Smasco to go public on Tadawul’s main market + lots of VC and startup news

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Smasco, Neft Alsharq, ASG Plastic are going public

Good morning, fellow fans of weekend relaxation. We have a light (but engaging) issue for you this morning before we all slide into the first weekend of Ramadan.

PSA- Civil defense officials are still warning that rain and thunderstorms are in the forecast through Sunday for Asir, Jazan, Qassim, the Eastern Province, Madinah, Hail, and the Northern Borders. Expect moderate to heavy rain with a risk of flash floods and blowing sand. Taif, Tabuk, and Madinah could also see periods of heavy rain through the weekend.

Winds will continue to be stiff across those areas through Tuesday, according to our favorite weather app.

☁️WEEKEND WEATHER-Expect a mix of sun and clouds today over Riyadh with a daytime high of 31°C falling to 19°C overnight. It’s shaping up to be a cloudy weekend, with the overcast weather continuing through Tuesday. Expect plenty of wind Sunday through Tuesday in the capital city.

So, when do we eat? Maghrib prayers are at 6:02 pm today and you’ll have until 4:44 am tomorrow to finish your sohour.

WATCH THIS SPACE-

Local mining company Khatawat is reportedly one of four bidders for gold exploration rights in two areas near Egypt’s Sukari gold mine, Asharq Business reports, citing an unnamed Egyptian official. Canada’s Lotus Gold, Russia’s Infinity, and Nubian Mining are also reportedly vying for the projects. Shalateen Mineral Resource Company launched the international tender in May 2022 for gold exploration rights at five different sites.

PSAs-

#1- Private sector companies interested in bidding for outdoor advertising on highways between cities can submit their offers to the Roads General Authority (RTA) by no later than Monday, 6 May, the RTA said in a post on X.

#2- Government employees looking to switch into other departments or other roles can apply through a newly launched job mobility service by the Human Resources and Social Development Ministry (HRSD), according to a post on X. The new service aims to facilitate direct and external transfers among government entities.

SPORTS-

⚽ In the Saudi Pro League tonight we have three matches kicking off at 10pm: Abha will be facing Al-Wehda | Al-Hazm vs. Al-Shabab | and Al-Khaleej vs. Al-Akhdoud.

Tomorrow: Al Ahli vs. Al Nassr | Al Tai vs. Al Ettifaq | Al Feiha vs Al Riyadh — all at 10pm.

Saturday, 16 March: Al Hilal vs. Damac | Al Fateh vs Al Ittihad | Al Raed vs. Al Taawoun — again, all at 10pm.

THE BIG STORY ABROAD-

It’s a toss-up between the US presidential election and Tiktok for which story is getting the most attention this morning in the global business press. Media outlets around the world are taking stock of Trump v. Biden, Round II — it’s the first rematch between US presidential contenders since 1956. They’re also asking what’s next for Tiktok after the House of Representatives voted yesterday to give owner ByteDance six months to sell it or face a ban in the US of A.

Must-read on the US election:Biden and Trump clinch nominations, setting the stage for a grueling general election rematch (Associated Press).

Must-read on TikTok:What’s next for TikTok and its US users after House approves ban (Financial Times).

Cue the protectionists: Overseas takeovers of high-profile western companies are raising hackles in London and Washington. Rishi Sunak is pushing for legislation that would prevent UAE-backed RedBird IMI from bidding for The Telegraph. And across the pond, Joe Biden is expected to speak out today against Nippon Steel’s USD 14.9 bn bid for US Steel.

Closer to home:

Abu Dhabi’s Eagle Hills has struck a USD 5.5 bn agreement to build a “Dubai-style hub” in Budapest.
Adnoc and BP have pulled back from their USD 2 bn bid to buy a major stake in Israeli natural gas giant NewMed Energy, citing “uncertainty created in the external environment.”

SIGN OF THE TIMES-

A Cayman Islands court has frozen lawyer Ronald William Gibbs’ access to USD 45 mn worth of assets — including a superyacht, Cayman Compass reports. This development follows in a recent UK court ruling where Gibss was ordered to pay USD 45 mn in damages to Princess Deema bint Sultan bin Abdulaziz Al Saud for misappropriation of funds. The latest ruling freezes all of Gibbs assets and prevents him from selling his multi-mn USD yacht. Gibbs is a former partner at global law firm Linklaters.

In context: Princess Deema had entrusted Gibbs with USD 25 mn to buy a property in Paris back in 2011, before she changed her mind. She has been asking for her funds back — which had been gifted to her by her father before his death — since 2013.

Saudi labor agency Smasco to go public on Tadawul’s main market

Smasco is going public: The Saudi Manpower Solutions Company (Smasco) has received Capital Market Authority approval to take sell a 30% stake on Tadawul’s main market, the regulator said yesterday. No further details were provided, but the statement said Smasco’s prospectus would be published “within sufficient time prior to the start of the subscription period.”

About the company: Established in 2012, Smasco provides recruitment and human resources solutions to companies.

We have a solid IPO pipeline taking shape through June: Modern Mills is close to wrapping up its IPO, and the Fourth Milling Company looks set to go public before the end of June, as we noted earlier this week.

And there’s lots more to come:

eXtra is looking to sell 30% of its highly profitable consumer finance arm ;
Singapore’s Olam Group is mulling the IPO of its Olam Agri subsidiary on Tadawul;
Hypermarket operator Lulu is said to be eyeing a dual listing on Tadawul and ADX;
Aster DM Healthcare looks set to spin-off its GCC assets and seek a dual listing on Tadawul and in the UAE.

Already this year: Regional broadcaster MBC debuting on Tadawul in January in a USD 222 IPO. Its IPO was recently the world’s top performing this year. Avalon Pharma has gone public on the main market, and there’s plenty of activity on Nomu, the Tadawul’s parallel market.

Speaking of Nomu:The CMA approved Neft Alsharq for Chemical Industry’s offering of 20% of its shares on the parallel market Nomu, it said in a statement yesterday. It also cleared ASG Plastic Factory Company’s planned offering of a 10.6% of shares on Nomu, it said in a separate statement.

AND- IT services firm Sure Global Tech has appointed Riyad Capital as its financial advisor for its planned transition from parallel market Nomu to the main market, it said in a disclosure to Tadawul yesterday. The move is still subject to approvals by Tadawul.

Gulf Capital to invest USD 100 mn in Saudi tech companies

Abu-Dhabi based asset management firm Gulf Capital is set to invest USD 100 mn in the Saudi technology and innovation sector over the next five years under a letter of intent agreement signed with the Research Development and Innovation Authority (RDIA), it said in a press release (pdf).

Gulf Capital has invested SAR 2.2 bn in Saudi Arabia, with leading payment services provider Geidea among the stars of its portfolio.

Target sectors: Gulf Capital will invest in local tech startups in the healthcare, healthtech, fintech, energy, renewables, and future economies sectors, along with enabling their expansion locally, regionally, and globally.

What they said: “We have an 18-year track record of investing in Saudi technology and innovation companies and helping them expand across Saudi Arabia and the broader region. In partnership with the RDIA, we look forward to increasing and accelerating our investments into high-growth companies in the Kingdom,” Gulf Capital Co-Founder and CEO Karim El Solh said.

What’s Gulf Capital? The asset management firm — which currently holds some USD 2.4 bn in assets under management — focuses primarily on late-stage control buy-outs, growth capital, private debt and real estate projects in the Middle East.

SVC invests USD 30 mn in Olive Rock Partners’ maiden private equity fund

SVC makes investment in Olive Rock Partners’ private equity fund:Saudi Venture Capital (SVC) has made a USD 30 mn investment in Olive Rock Partners ’ maiden private equity fund, Olive Rock Partners Fund I, state news agency SPA reported yesterday, citing a SVC statement. Olive Rock Partners is an independent GCC-focused private equity fund based in the Abu Dhabi Global Market (ADGM).

Olive Rock I will focus on “mid-market buyouts that are geographically advantaged and technologically enabled,” according to the statements. No further details were provided on the fund or its planned investments.

What they said: "The investment in Olive Rock Partners Fund I is part of SVC's Investment in Funds Program, which is a continuation of the company's series of investments and an implementation of its strategy related to developing and sustaining financing for startups and SMEs, especially in strategic sectors,” SVC CEO Nabeel Koshak said.

Olive Rock has raised funds in KSA before: PIF-owned Jada Fund of Funds Company became a limited partner in Olive Rock Partners’ Fund I in 2022. The Abu Dhabi-based fund has invested in three regional healthcare platforms since its launch in November 2021 as part of a focus on Saudi and the UAE.

About SVC: Established in 2018, SVC is an investment management firm focusing on investments in private capital funds, including venture capital, private equity and others through a USD 2 bn in assets under management. It is a subsidiary of the National Development Bank’s SME Bank.

Indian fintech Infibeam’s local unit gets payment processor license, alliance with SAB

Mumbai-based fintech company Infibeam’s subsidiary in the Kingdom has secured a license to operate here as a payment processor under a newly-acquired payment technical service provider certification (or “PTSP” in industry jargon) from the Saudi Central Bank, it said in a statement yesterday. This makes it the first Indian fintech to clinch the SAMA-issued license.

Ironing out the details: The move will see Infibeam’s online payment arm CCAvenue widen its digital product, which targets both entrepreneurs and merchants.

Counting on success in the UAE: Infibeam’s payment gateway said it is the UAE’s second largest payment aggregator at an annual run-rate of AED 12 bn last year, according to the statement. It forecasts its run rate to reach AED 18 bn by the end of this year.

What they said: “Infibeam Avenues is investing in global assets, infrastructure, and digital capabilities to support businesses in digital transformation and Saudi Arabia’s Vision 2030 of building a thriving digital economy and a 70% cashless society is a huge opportunity for digital payments,” Joint Managing Director Vishwas Patel said.

And that’s not all from Infibeam: The fintech company is also partnering up with banking heavyweight Saudi Awwal Bank (SAB) to boost the local financial ecosystem and exchange expertise. The partnership will pave the way for CCAvenue to tap on SAB’s banking services to serve merchants and consumers through its payment solutions.

Construction begins at Sami Land’s SAR 575 mn defense systems complex

Zamil Steel, Sami break ground on defense systems complex: Construction of a SAR 575 mn defense systems complex by Zamil Steel Construction and the Saudi Arabian Military Industries (Sami) began earlier this week, according to a disclosure by Zamil’s parent company. The contract for the complex, which runs for 16 months, was awarded to ZSC in December by the PIF’s national defense and security champion Sami.

The scope of work: Zamil will be build out the manufacturing facilities, utility buildings, exterior areas and others for the Sami Land industrial complex. It will also supply the complex with its HVAC products, insulated panels, steel structures and insulation materials.

The significance:The industrial complex is will be home to companies and activities that develop, design, and manufacture land defense systems at Al Kharj, according to the disclosure.

About the companies: ZSC is a subsidiary of Tadawul-listed Zamil Industrial Construction Company, while Sami Land is a unit of the PIF’s national defense subsidiary, Sami. In military terms, “land forces” = army, so think tanks, wheeled vehicles, artillery, and other weapons systems.

It’s been a busy year for the defense industry: Some 61 contracts worth SAR 26 bn were signed at the World Defense Show in Riyadh in February. This is up from SAR 21 bn worth of purchase agreements signed in 2022.

REMEMBER- The Kingdom has a target of localizing over 50% of its military equipment spending by 2030.

Esab and Petromasafi eye leasing facilities at Spark’s dry port

Spark Logistics has inked two MoUsthat would allow multinational welding equipment supplier Esab and local oil and gas chemical products outfit Petromasafi to lease existing pre-built facilities at Spark’s dry port bonded area, according to a joint press release. Spark Logistics is a JV between King Salman Energy Park (Spark) and Hutchison Ports.

The details: The Esab and Petromasafi will rent 15k sqm of facilities to be used as light manufacturing and distribution points from which they’ll serve oil and gas sector. The partnership looks to create over 100 new jobs.

Background: The JV’s logistics zone is expected to kick off operations this year, offering services that include customs clearance and bonded warehouse storage. The hub looks to host 10 mn tonnes of cargo.

What they said: “These agreements are in line with our commitment to localize the energy value chain and establish a leading industrial hub that offers global connectivity to the Saudi energy sector,” Spark Logistics Chairman Saif Al Qahtani said.

Saudi earnings season is (finally) coming to a close

WALAA-

Walaa Cooperative Ins. turned into the black with a net income of SAR 148 mn in 2023, and revenues rose 12 % y-o-y to SAR 2.9 bn, it said in a disclosure to Tadawul. On a quarterly basis, Walaa reversed its losses with a bottom line of SAR 45.3 mn in 4Q 2023, from a net loss of SAR 11.4 mn in the corresponding quarter a year earlier. Its top line was up 36.6% y-o-y to SAR 880.2 mn in 4Q, according to data seen by Argaam.

NAYIFAT-

Nayifat Finance’s net income fell 48.6% y-o-y to SAR 88 mn in 2023, while revenues inched up 1.2% y-o-y to SAR 397 mn, it said in a disclosure to Tadawul.

Saudi law firms landed 4 awards at the Chambers Middle East Awards

Four Saudi law firms were recognized at the 2024Chambers Middle East Awardsin Dubai last week:

Kosheim & Associates snagged the Saudi Arabia banking and finance law firm of the year title;
AS&H Clifford Chance took home the Saudi Arabia corporate and commercial law firm of the year;
Clyde & Co was named the Saudi Arabia dispute resolution law firm of the year;
Salman Al-Sudairi clinched an outstanding contribution award for his work as chair of the Saudi Arabia practice at Latham & Watkins.

From sports to tourism and the PIF, Bloomberg is driving the conversation on Saudi in the global press this morning

Bloomberg owns the conversation on Saudi in the global business press on this fine Ramadan morning with a trio of stories.

Up first: The Public Investment Fund is closing in on the USD 1 tn milestone for assets under management, it writes. (We had the story on Tuesday, citing data from the SWF Institute.) The UAE’s ADIA and the Kuwait Investment Authority are also closing in on USD 1 tn in AUM, it notes.

Football: The PIF has no plans to boost its three-year budget for the Saudi Pro League, with Carlo Nohra, the chief operating officer of the Saudi Pro League, telling the business information service that the Kingdom’s football clubs will be shifting gears in the next transfer window — halting last summer’s spending spree.

Fast fact #1: “Teams in the Kingdom spent USD 875.4 mn bringing in foreign players last summer, according to FIFA. Only English clubs, with a tab of USD 1.98 bn, outspent them during the period,” Bloomberg writes.

Fast fact #2: “The global appeal of foreign stars has helped Saudi Arabia to secure broadcasting deals for its games in more than 130 territories.”

AND- Vice Minister of Tourism Haifa Al Saud sat down with Bloomberg for a one-on-one. Her key messages:

The tourism industry has attracted private-sactor investment worth north of USD 13 bn;
We’ll add c. 150k-200k new hotel rooms over the next two years;
The industry should generate revenues of USD 85 bn this year, or nearly 29% more than in 2023

Amiantit’s subsidiaries have lined up SAR 174 mn in contracts. PLUS: Mining, IPO, desalination, utilities, gaming

MANUFACTURING-

Dammam-based pipes manufacturer Amiantit’s subsidiaries have lined up the following SAR 174 mn in supply and installation contracts, it said in a filing to Tadawul.

Setting up SAR 52.4 mn water networks for the Green Riyadh program under a one-year contract with Abdullah Al Sayegh & Sons. Al Sayegh also sealed a SAR 26.3 mn contract for phase two of the strategic water plan in Riyadh;
The SAR 16.6 mn King Abdullah Gardens project in Qiddiya under a one-year contract with Zaid Al-Hussein & Brothers;
Construction Network Contracting was awarded a SAR 59 mn, two-year contract to develop water networks in Dhahran Al-Janoub, Bisha, and Sarat Obeida;
Building Assets inked a SAR 10 mn, 24-month contract to build the Muhayil Asir water networks project;
Bakri Ahmed Al Saab General Contracting snapped up a SAR 9.7 million, 24-month contract to implement drinking water networks in Khamis Mushait city center.

MINING-

Almasane Alkobra Mining has renewed its offtake agreement with Glencore International for an additional 24 months, it said in a filing to Tadawul. The move will see the mining player sell all of its zinc and copper concentrates from its local operations to Glencore until the end of December 2026. Meanwhile, Glencore will continue to provide mining technical services to optimize the value of the products. The 2-year agreement — which was originally signed in Janurary 2023 — remains subject to renewal.

M&A WATCH-

Accumulating Balady Poultry shares: The Saudi Advanced Industries Company (SAIC) and its subsidiary have acquired 567.2k shares of Nomu-listed Balady Poultry from “multiple shareholders” for SAR 71.9 mn at SAR 126.7 apiece, SAIC said in a disclosure to Tadawul yesterday. The company said the share purchases were made over separate batches from 21 September until yesterday. The acquisition comes under SAIC’s expansion strategy, it said.

ICYMI- Tadawul-listed Almunajem Foods signed earlier this month a share purchase agreement to acquire 17% of Balady Poultry in a transaction valued at SAR 134 mn.

DESALINATION-

Acwa Power has received the commercial operation certificate for its Al Taweelah desalination plant in Abu Dhabi, according to a statement. The certificate — issued by Emirates Water and Electricity (Ewec) — will allow the renewables giant to launch the final phase of the project which kicked off operations in 2022. Acwa power owns a 40% stake in the project’s SPV, while state-owned Abu Dhabi Power Corporation and Mubadala Development Company own the rest.

GAMING-

The King Abdulaziz City for Science and Technology (KACST) gears up to boost the local gaming ecosystem under a new MoU with Animoca Brands, according to a joint statement.The partnership will see KACST and the Hong-Kong based tech player set up a physical Web3 hub in Riyadh to incubate and provide consultancy services to local and regional Web3 and blockchain startups, along with co-developing immersive experience labs featuring the latest gaming technology. The two will also embark on joint research initiatives in blockchain technology, gaming, AI and the metaverse. No further information was provided.

CONSTRUCTION + TOURISM-

Eversendai Engineering Saudi — Subsidiary of Malaysia’s Eversendai — and construction company Albawani have landed a project in Neom’sTrojenaSki Village, according to a filing to Bursa Malaysia. The companies will be tasked with the design, engineering, and installation of a structural steel signature building at the mountain resort. No further information was provided.

CAPITAL MARKETS-

The major shareholder of Al Etihad Cooperative Ins. — Trade Union — is transferring a good chunk of its ownership in the company to its own shareholders, according to a disclosure to Tadawul yesterday. The off-market transaction will lead to a change in Al Etihad’s ownership structure, with Trade Union’s stake falling to 5% from an earlier 22.4% and major shareholder Al Ahlia ins’s holding increasing to 28.7% from 10%.

UTILITIES-

The National Housing Company (NHC) broke ground on a main electrical relay station in Jeddah’s Al Sadan Community, according to a statement by the NHC yesterday. The Saudi Electricity Company (SEC) is overseeing the construction of the station which will have a capacity of 134 megavolt-ampere (MVA) and cable connections spanning 3km. It is set to provide electricity to 5.5k residential units.

TECHNOLOGY-

#1- Khobar-based supply chain firm Starlinks has inked a MoU with IoT Squared to modernize supply chains operations with smart technology, according to a statement. The firms aim to enhance operational efficiency by implementing AI in warehouse automation, optimizing data across the supply chain, and leveraging analytics in decision making to ensure a competitive advantage in the market.

#2- Edarat Communication and IT inked a SAR 12.4 mn contract to offer licensing, implementation and support for the National Center for Meteorology (NCM)’s meteomatics weather analysis system, the IT firm said in a disclosure to Tadawul yesterday. This includes Weather API and MetX licenses, integration, monitoring, and technical assistance

REAL ESTATE-

Alinma Investment acquires two real estate properties: Alinma Investment signed an agreement with Osus Real Estate to acquire two new real estate properties in Riyadh in exchange for its Al Makan Mall and using funds from loans through its Alinma Retail REIT fund, it said in a disclosure to Tadawul yesterday. The value of the assets under the transaction is expected to be of over SAR 1 bn. The agreement could be annulled by either party within 90 days under “specific conditions”.

PROCUREMENT-

Mayar Holding’s subsidiary Egypt Gulf Elevators & Escalators is set to supply Total AirProjects with 1.2k elevators, under SAR 64.6 mn 2-year contracts, according to a filing to Tadawul.

Beware: The Halving cometh…

Is “the halving” driving BTC’s surge? There are as many theories about what has driven BTC north of USD 72k as there are pundits talking up the asset class, but one theory gaining a lot of currency in recent days attributes it to “the halving.”

Uh, Enterprise? What that [redacted] are you talking about? “The halving” (BTC bulls insist it is “The Halving, a proper noun) is a mechanism built into the cryptocurrency designed to control the supply of new coins — effectively ensuring it remains valuable.

How it works: BTC has a built-in limit of 21 mn coins. The halving is a programmed event (architected by BTC’s pseudonymous creator, Satoshi Nakamoto) that cuts the reward for miners in half, roughly every four years, thus controlling supply and making it hard to hit 21 mn coins in circulation (cf: Zeno’s Paradox).

It’s happened before: When BTC was first introduced, the reward for mining a block (IYKYK) was 50 BTC. The reward dropped to 25 BTC in 2012 (the first halving), then to 12.5 BTC in 2016, and to 6.25 BTC in 2020.

Why is it important? The idea is that the halving makes it less attractive for “miners” to make BTC, thus slowing its production and putting a floor under the price — kind of like OPEC+ output cuts designed to make sure oil remains expensive.

When will the “halving” happen? Nobody knows for sure, but most likely in April, it seems.

How is it impacting price? Some pundits think the prospect of tighter supply going forward is behind BTC breaking the USD 72k barrier for the first time a few weeks back.

THE MARKET THIS MORNING-

Asian markets are trading sideways this morning after Wall Street's tech rally appeared to lose momentum, CNBC reports. Futures suggest major European benchmarks are also heading for a mixed open, while things are looking up on Wall Street: Futures inched higher overnight as traders shrugged off a 46% slump in EV maker Fisker's shares after the Wall Street Journal suggested it had hired bankruptcy advisors.

TASI	12,723.15	+0.9% (YTD: +6.3%)
MSCI Tadawul 30	1,605.34	+0.4% (YTD: +3.5%)
USD : SAR (SAMA)	3.75 Sell	3.75 Buy
Interest rates	6% repo	5.5% reverse repo
EGX30	31,013.88	-5% (YTD: +24.6%)
ADX	9,243.81	+0.2% (YTD: -3.5%)
DFM	4,259.24	+0.2% (YTD: +4.9%)
S&P 500	5,165	-0.2% (YTD: +8.9%)
FTSE 100	7,772.17	+0.3% (YTD: +0.5%)
Euro Stoxx 50	5,000.55	+0.4% (YTD: +10.6%)
Brent crude	USD 84.13	+0.1%
Natural gas (Nymex)	USD 1.67	-2.5%
Gold	USD 2,173	+0.3%
BTC	USD 73,193	+1.4% (YTD: +73.9%)

THE CLOSING BELL-

The TASI rose 0.9% yesterday on turnover of SAR 11.4 bn. The index is up 6.3% YTD.

In the green: Saudi Chemical (+10%), Amana Ins. (+9.9%) and Arabian Contracting Services (+9.9%).

In the red: Takween Advanced Industries (-3.1%), Ayyan Investment (-2.2%) and Alujain Corp (-1.9%).

Enterprise mosalsalat picks for the the 2024 Ramadan season

Low on conversation starters for your Ramadan iftar gatherings? We’ve got the lowdown on this year’s top shows and where to catch them so you can breeze through any lulls in conversation without missing a beat.

#1- Our very own “Al-Sharar” is up first, starring Saudi star Layla al Salman, a show set in the heart of the Saudi desert, where a woman stumbles upon a scandal that sets off a chain of events, unearthing long-buried secrets (watch trailer, runtime 1:49). The show also stars Reem Abdullah, Ali Al Sebaa, and Khaled Saqer, and is directed by Al-Fawz Tanjor.

Genre: Drama | Airing on MBC Drama and Shahid.

#2- Masar Egbari is a show worth keeping up with: When two young men discover they’re brothers due to their father’s will, they’re plunged into a murder mystery that forces them to put aside their differences. The Egyptian show stars Ahmed Dash and Essam Omar, and is directed by Nadine Khan (watch trailer, runtime 0:37).

Genre: Suspense / drama | Airing on CBC and Shahid.

#3- Khoyoot Al Ma’azeeb gives us a glimpse of Al-Ahsa city in the 1960s: The story revolves around Farhan, a spirited 15 year old who finds himself working under harsh conditions for a tough man. Determined to stand up for himself, he seeks a way out. (watch trailer, runtime 2:12)

Genre: Drama | Airing on MBC one and Shahid.

#4- The three brothers are in for more comedic adventures in “Sekkat Safar 3”: Follow brothers Khaled, Nasser and Walid, as they journey through southern Saudi Arabia seeking a safe haven after being falsely accused of a crime— unaware that the true culprit has already been caught (watch trailer, runtime 1:57).

Genre: Comedy | Airing on MBC one and Shahid.

#5- And of course the Ramadan Veteran Nelly Karim stars in her new lighthearted series Farawla (watch trailer, runtime 1:07). The Egyptian series tells the story of a porter’s daughter who skyrockets to fame, The 15 episode series will be available in the second half of Ramadan.

Genre: Comedy | Airing on CBC and Watch it.

#6- 2024 comes back with its second season, starring Nadine Nassib Njeim, Mohamad Al Ahmad, and Rafic Ali Ahmad. The show follows main character Sama living in hiding with her daughter, both fearing for their lives. But when the case takes a new turn, she is forced to return to her former life (watch trailer, runtime 1:55).

Genre: Action / suspense | Airing onShahid.

CALENDAR

APRIL

8-11 April (Monday-Thursday): Saudi Super Cup, Abu Dhabi.

10 April (Wednesday): Eid al-Fitr

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

16 April (Tuesday): FEI World Cup Equestrian, Riyadh.

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

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

MAY

2-5 May (Thursday-Sunday): TownhallExpo, Riyadh.

6-9 May (Monday-Thursday): Saudi Smart Manufacturing, Riyadh.

6-9 May (Monday-Thursday): Saudi Smart Logistics, Riyadh.

13-15 May (Monday-Wednesday): Smart Future Expo, Riyadh.

13 May (Monday):Saudi Giga Projects, Riyadh.

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

20-21 May (Monday-Tuesday): Future Projects Forum, Four Seasons Hotel, 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

4-7 June (Tuesday-Friday): Saudi Sports Show, Riyadh.

4-7 June (Tuesday-Friday): Aqarat Expo, Riyadh.

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.

17-19 September (Tuesday-Thursday): EV Auto Show, Riyadh.

24-26 September (Tuesday-Thursday) Saudi Infrastructure Expo, Riyadh International Convention and Exhibition Center, Riyadh.

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

NOVEMBER

26-28Novemeber ( Tuesday-Thursday): Saudi Electricity Expo, Riyadh.

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:

The AFC Champions League Elite

2025

FEBRUARY

10-13 February (Monday-Thursday): Leap 2025, the Kingdom’s premier tech investment conference

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