A history-making Olympian

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Alayed makes history as Saudi’s first woman swimmer at the Olympics

Good morning, wonderful people. Before we get underway, consider joining us in appreciation of Mashael Alayed, the first woman swimmer to represent the Kingdom at the Olympics at age 17. Alayed made a good showing in the 200-meter freestyle competition, finishing sixth out of seven in her event.

SIGN OF THE TIMES- Chinese investors are piling into two new exchange-traded funds tracking Tadawul “as the dismal performance of [Chinese] equities supercharges demand for overseas assets,” Bloomberg writes. The ETFs surged the maximum 10% in each of the first two days it started trading earlier this month — and trading was suspended after managers said the premium of the share price to the net asset value had “become excessive.”

MEANWHILE- Are you planning to be in Egypt on 24 September? You may be interested in attending our 2024 Enterprise Finance Forum. Seating is strictly limited at our flagship, invitation-only forum for C-suite executives and other senior leaders.

Why attend? We’re in the early days of a generational realignment of power in our industry — in our region and beyond — and on the cusp of the biggest intergenerational transfer of wealth the world has ever seen. With that as the backdrop, we’re going to take stock of where we stand six months after the float of the EGP and ask what’s next for finance in Egypt and the wider region. Among the questions we’ll be asking:

What roles will Egypt, Saudi and the UAE play in the regional industry going forward?
What are foreign investors looking for right now?
Is real estate the only asset class in Egypt?
What does the next generation of leaders think as they take over established family businesses?

Do you want to request an invitation? Tap or click the image below.

WATCH THIS SPACE-

#1- M&A WATCH- Buruj Ins. + Medgulf eye potential merger: Buruj Cooperative Ins. inked a non-binding MoU with Mediterranean and Gulf Ins. and Reins. (Medgulf) to consider a possible merger between the two, according to two separate disclosures to Tadawul (here and here). The two companies will conduct due diligence to assess the feasibility of the merger, the value of which has yet to be determined.

The details: The potential merger would take place through a share swap, where Medgulf’s capital would be upped to allow for the issuance of new shares to the shareholders of Buruj.

ADVISORS- Medgulf tapped our friends at HSBC Saudi Arabia as its financial advisors, while Khoshaim & Associates will provide counsel. No information was provided on Buruj’s advisors.

#2- Tadawul-listed glass manufacturer Raoom Trading is looking to launch a laminated glass production line with Germany's Benteler with production expected to kick off at the end of October, CEO Hamid Al Hamid told Argaam. The company is also eying the launch of two separate production lines with a production capacity of up to 800 kg per hour for each which are expected to come online next year. Al Hamid did not provide further information on the investment size of the new lines.

IN CONTEXT- The current production capacity of the existing glass lines is around 20k sqm per day. The expansion plan aims at covering local demand, boosting market share, and export volumes, Al-Hamid added.

HAPPENING TODAY-

Rump shares from Ayyan Investment’s rights issue will be offered to institutional investors from 10am today through to 5pm tomorrow, according to its disclosure to Tadawul. The shares will be allocated in order of priority from the highest to lowest bids, barring bids below the offer price of SAR 10 apiece. If all shares are not sold, the underwriter, Alinma Investment, will buy what remains at the offer price, it added. Investors had already subscribed to nearly 85% (or 17 mn shares).

The International Chemistry Olympiad — a competition for the world’s brightest chemistry students — wraps up today. The annual event is held in King Saud University in Riyadh with teams of four students and two mentors from institutions around the world undergoing practical and theoretical assessments in chemistry.

PSAs-

#1- Advertisements for medical devices, pesticides, livestock feed, food products, and over-the-counter drugs require sign-off from the Saudi Food and Drug Authority (SFDA), the watchdog said in a statement. Ads for these products must get SFDA clearance on any claims made about the product, avoid negative comparisons with other products, and must be registered with the authority. To report violations, call 19999.

#2- Private sector players can now submit expressions of interest to become the monitoring body for the Kingdom’s driving schools under a 10-year management and operation contract, state news agency SPA reports. The project is designed to improve vehicle training and testing by monitoring the performance of driving schools and managing driver tests at nearly 70 locations throughout the Kingdom. Investors can submit their expressions of interest here until 3pm Sunday, 25 August.

Want to go deeper? You can check out the project’s webpage here.

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THE BIG STORY ABROAD-

It’s a quiet day in the foreign business press. It’s a Monday, to start with — always slow for business in the West — and front pages everywhere are dominated by geopolitical tensions, elections, and the Olympics.

Fears of a full-blown war between Israel and Lebanon dominate the front pages this morning, as foreign diplomats and global leaders race to dissuade Israel from a forceful retaliation against Lebanon after Hezbollah allegedly struck a playground in the Israel-occupied Golan Heights, killing 12 Israeli civilians, most of whom were children. Israel and the White House are adamant that Hezbollah is behind the attack, despite the latter denying responsibility.

Israel attacked Hezbollah targets yesterday and vowed to further retaliate, with its security cabinet giving the all-clear for the government to decide the “manner and timing” of its response, Reuters reports. The US has reportedly warned Israel against retaliation in fear that the situation will “spiral out of control,” Axios reports.

Talks continue on a potential ceasefire in Gaza: Officials including CIA director William Burns, Egyptian intelligence chief Abbas Kamel, and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani met with Israel’s chief negotiator to hear new demands from the Israeli side. Talks are expected to continue, the Guardian reports.

In elections: US Vice President Kamala Harris’ presidential campaign raised USD 200 mn in its first week (the feat leads the Financial Times and Reuters at dispatch time this morning) and Venezuelan voters took to the polls yesterday in what is being billed as the country’s most consequential elections in decades. President Nicolas Maduro faces a stiff challenge from the opposition after a quarter of a century at the helm.

OLYMPICS-

The medal table now at the Paris Olympics:

Japan (4 golds, 7 total)
Australia (4 golds, 6 total)
United States (3 golds, 12 total)

Egypt and Tunisia are the only Arab countries (so far) to have taken home a medal. Egypt’s Mohamed El Sayed picked up a bronze yesterday, beating Hungary’s Tibor Andrásfi in the men's épée individual. El Sayed lost in the semi-finals to France’s Yannick Borel. Tunisia’s Fares Ferjani took silver in the men’s individual saber, beating Egypt’s Ziad Elsissy.

Yesterday’s highlight: US gymnast Simone Biles marked her return to the Olympics stage with a spectacular performance, qualifying for the final in first place despite tweaking her left calf. (The Guardian)

Today’s highlight: It’s a huge day for tennis nerds. Rafael Nadal (Spain) is set to clash with Novak Djokovic (Serbia) at 1pm for their 60th showdown, while world number-one Iga Swiatek (Poland) takes on France’s Diane Parry at the same time. There are more than a dozen matches taking place today in total.

Want to see when your favorite sport is on? Check out the official schedule here.

CIRCLE YOUR CALENDAR-

The Crawford vs Madrimov boxing showdown will take place on Saturday, 3 August at the Los Angeles BMO Stadium. The event is the highlight of the Los Angeles Riyadh Season Card which features five other bouts. You can check them out here.

Aramco is set to release its 1H 2024 results on Tuesday, 6 August, according to its website. You can tune into the audio webcast of its earnings call here. The oil giant’s net income dipped a bit more than 14% in 1Q 2024 to SAR 102.3 bn.

Small and medium enterprises regulator Monsha’at will hold a franchise tour of five cities on 12-13 August (Monday and Tuesday). The tour, which starts in Khobar and includes stops in Abha, Qassim, Hail and Jeddah, will showcase success stories in the sector. The tour then picks up with seven stops scheduled for an installment next year.

Cybersecurity training event SANS Riyadh Cyber Leaders August 2024 will run from Sunday, 18 August to Thursday, 22 August at the Hyatt Regency Riyadh Olaya.

The eight-week Esports World Cup runs until Sunday, 25 August Riyadh’s Boulevard City. The world’s top esports clubs are competing for a pool of USD 60 mn — the largest purse in esports.

The two-day Middle East LPG Expo - Saudi Arabia 2024 will open on Tuesday, 10 September, bringing together upwards of 4k liquified petroleum gas (LPG) experts to discuss the future of the fuel gas in clean energy. Saudi accounts for 50% of demand for LPF in the Middle East and Africa.

The TotalEnergies CAF Super Cup Final 2024 between Egyptian rivals Al Ahly and Zamalek will be held in Riyadh on Friday, 27 September. The venue and kick-off time of the match will be announced at a later date.

This year’s edition of security-focused expo Intersec Saudi Arabia will run from Tuesday, 1 October to Thursday, 3 October at the Riyadh International Convention and Exhibition Center.

International food and beverage expo InFlavour is returning to Riyadh on Tuesday, 1 October. The three-day event — which will be organized in collaboration with the Environment, Water and Agriculture Minister, Tahaluf, Pepsico, Al Rabie, Arasco and Nadec — will take place in Riyadh’s Front Exhibition and Conference Center.

Saudi’s National Center for Palms and Dates launched a centralized trading platform for dates

Date farmers, sellers, marketers, and buyers are now required to use a centralized platform for trading after the National Center for Palms and Dates launched a seasonal markets system. The new system, launched alongside the Environment, Water, and Agriculture Ministry, is designed to regulate and organize date trading by introducing more efficiency in the trading market and improving the availability and quality of data on the market, it said in a post on X. You can register here.

What’s the seasonal market system? The platform aims to provide all the stakeholders in the date value chain with enough data about the sector, along with offering marketing and agriculture services. It links sellers, buyers and marketers together and allows them to conduct their business, sign contracts, and monitor payments and business progress online on a centralized portal. It also provides detailed guidelines on how sellers and buyers can conduct their transactions.

By the numbers: The kingdom produces around 1.7 mn tonnes of dates annually, and exports SAR 1.5 tn-worth of dates every year.

Saudi delivers on 2025 healthcare targets ahead of schedule

The Kingdom has already delivered on many of the 2025 targets it had set for the local healthcare sector, including receiving patient evaluations, raising users satisfaction rates, providing basic medical services to the majority of the population, and lowering traffic fatalities, according to the health sector transformation program annual report (pdf).

Key KPIs:

Around 96.4% of the population is currently covered by basic health care services, including in remote areas. This exceeds the 88% target set for the year 2025;
The Kingdom currently has 733 nursing staff for every 100k people, a little behind the 738 target for 2023;
The average human life expectancy in the Kingdom stood at 77.6 years by the end of 2023;
Users of the national population health platform (Sehhaty) rose 15% y-o-y to 30 mn in 2023, with 1.6 mn virtual consultation, and 9.2 mn virtual appointments;
Adherence to newborn testing procedures in public hospitals rose to 94.3% in 2023, up from 63% in 2022. In private sector hospitals, that figure rose to 84% in 2023, up from just 7% in 2022.

Evaluation + satisfaction metrics: Some 82% of healthcare service beneficiaries evaluated the services they received by primary health care centers. The Kingdom had set a target of 81.2% in 2023 and 81.7% for 2025. Meanwhile, 87.5% of all healthcare patients reported their satisfaction with the services they had received during hospitalization, coming in just above the 2025 target of 85.8%.

ALSO- The number of pharmacies affiliated with the Online Drug Track and Trace System (RSD) grew 13% y-o-y to 11.1k in 2023. RSD is a platform sponsored by the Saudi Food and Drug Authority to track the availability of local and imported pharma products which aims to enhance oversight and ensure drug safety, by identifying and documenting the source and movements of each drug before it reaches patients.

REMEMBER- US investors are eyeing the sector: Healthcare is a major focus for US investors in Saudi, with a specific focus on R&D, biopharma, and medtech, Vice President and Deputy Head for the Middle East, Central Asia, and Türkiye at the US Chamber of Commerce Steve Lutes told us earlier this month. Meanwhile, there’s room for a closer look into how we can make the sector more attractive for investments, especially considering things like the Personal Data Protection Law and how it could impact investors’ ability to leverage data in operations and research, he added. Lutes also highlighted the need to look at how offset requirements prompted concerns about their application, and feasibility in the sector.

Sabic Agri-Nutrients, Yansab, Sulaiman Al Habib, Electrical Industries, Bahri, and Zain KSA report 2Q results

We’re officially waist-deep in The Silly Season as companies race to file 2Q / 1H earnings before their deadline.

SABIC AGRI-NUTRIENTS-

Sabic Agri-Nutrients’ net income rose 8% y-o-y to SAR 705 mn in 2Q 2024 on revenue of SAR 2.7 bn (+6% y-o-y), according to an earnings release (pdf). For the first half, the company’s net income fell 5% to SAR 1.5 bn as revenues dipped 4% to SAR 5.2 bn.

IN CONTEXT- The company had said earlier this year that it expected 2Q 2024 to be “challenging,” forecasting weaker demand with the shift “away from the spring agricultural season.” Sabic Agri-Nutrients reported its average sales price drop 15%, with sales volume falling 25% q-o-q in 2Q 2024, it said in the earnings release.

The global fertilizer market faced substantial supply challenges in the last quarter due to gas disruptions in Africa, unexpected shutdowns in Southeast Asia, and China's export ban. Despite these constraints, demand remained strong in the US, EU, and APAC regions due to seasonal agricultural needs.

The silver lining: Sabic Agri-Nutrients expects to see strong demand in 3Q 2024, driven by seasonal transitions. However, the potential resumption of Chinese exports towards the end of 3Q could create pressure on the average selling price.

YANBU NATIONAL PETROCHEMICAL-

Yanbu National Petrochemical’s net income grew 720% y-o-y to SAR 225 mn in 2Q 2024, it said in a disclosure to Tadawul. Revenues were up 25% y-o-y to SAR 1.7 bn during the quarter. On a 1H basis, the company reversed net losses to record SAR 324 mn in net income, compared to a net loss of SAR 342 mn during the same period last year, while revenues grew 53% y-o-y to SAR 3 bn.

SULAIMAN AL HABIB-

Sulaiman Al Habib Medical Services Group’s net income increased 14% y-o-y to SAR 555 mn in 2Q 2024, with revenues rising 13.3% y-o-y to SAR 2.6 bn, it said in a disclosure to Tadawul. The healthcare provider’s bottom line rose 13.3% y-o-y to SAR 1.1 bn in the first half of the year, while revenues surged 11.3% to SAR 5.1 bn.

DIVIDENDS- Shareholders will receive SAR 409.5 mn in dividends (or SAR 1.17 per per share) for the second quarter, according to a separate disclosure to Tadawul. Dividends will be paid on Monday, 19 August.

BAHRI-

Saudi national shipping company Bahri’s 2Q 2024 bottom line rose 48% y-o-y to SAR 733 mn, up some 61% q-o-q, according to a statement (pdf). The firm's top line rose 15% y-o-y to reach SAR 2.71 bn.

A wider look at 1H performance: Bahri’s bottom line grew by 20% y-o-y to SAR 1.19 bn in 1H 2024, attributed to cost efficiency solutions, the statement said. The firm’s top line rose 6% y-o-y to SAR 5.03 bn during the first half of the year.

Behind the numbers: The boost to net income was driven by growing operational activities and the improvement of global shipping rates, which caused a spike in revenues across sectors including logistics, chemical transportation, and dry bulk, says the statement. Rising global shipping rates outweighed a drop in oil transportation revenues.

ZAIN KSA-

Telecom operator Zain KSA’s net income dropped 8% y-o-y to SAR 105 mn in 2Q 2024, while revenues rose 6.7% to SAR 2.6 bn, it said in a disclosure to Tadawul. The company’s revenues were buoyed by growth in the B2B, 5G services, wholesale and Tamam segments, according to the disclosure. Compared to 1Q 2024, revenues were up 0.7% and net income rose 53%.

On a year-to-date basis: Net income was down 86.3% y-o-y to SAR 172 mn in 1H 2024 despite a 5.6% y-o-y increase in revenues to SAR 5.1 bn, it said in a disclosure to Tadawul.

What gives? It’s what pundits call a “negative base effect”: Zain KSA booked in 1Q 2023 the full proceeds from its sale of 3.6k towers to Golden Lattice Investment (Glic). There’s no comparable gain on the sale of an investment in 1H 2024.

ELECTRICAL INDUSTRIES-

Electrical Industries’ (EIC) net income doubled y-o-y to SAR 101 mn in 2Q 2024, and revenues rose 32% to SAR 495 mn, it said in a disclosure to Tadawul. EIC saw its bottom line rise 107% y-o-y to SAR 176 mn in 1H 2024, while revenues grew 37.4% y-o-y to SAR 1 bn.

Monsha’at kicks off a real estate accelerator

STARTUP WATCH-

A real estate accelerator: The Small and Medium Enterprises General Authority (Monsha'at) launched yesterday a new real estate accelerator, state news agency SPA reports. The accelerator will work with a group of 12 startups for a period of 12 weeks ending on Thursday, 31 October. The accelerator is a collaboration between the Housing and Municipalities Ministry, the Real Estate General Authority, the National Housing Company, and Fintech Saudi.

TOURISM-

The Kingdom’s Al Faw archaeological area in Wadi Al Dawasir is now on the UNESCO World Heritage List, bringing up the country’s number of listed sites with the UN education and culture body to eight, according to a post on X.

Dual-class share structures come to the LSE today + central bankers meet this week in Washington, London, and Tokyo

It’s shaping up to be a big week on Planet Finance:

#1- It’s a huge morning for some investors in London-listed companies as the LSE rolls out new listing rules in what’s being portrayed as a victory for venture capital firms and sovereign wealth funds.

The changes: The new rules will allow companies to retain dual-class share structures that give founders and other early investors more voting rights than others. The UK Financial Conduct Authority is positioning the changes as the “biggest changes to the listing regime in over three decades.”

Why now: The LSE has lost listings (and seen outflows of investment) to other markets, the Financial Times notes.

Read for yourself: The full text of the changes are included in this policy statement (pdf).

#2- It’s shaping up to be a big week for central bank watchers as the monetary policy bosses of three of the world’s most advanced economies meet.

The US Federal Reserve will meet on Tuesday and Wednesday. Nobody expects the Fed to cut interest rates, but analysts think this is the pivotal meeting that will set them up to go for it in September, the Wall Street Journal writes.

Japan’s central bank meets on Wednesday, and the UK follows suit on Thursday. Traders are trying to figure out if the Bank of Japan will hike interest rates — and by how much the Bank of England will cut them, Bloomberg says.

ALSO WORTH READING on this fine Monday morning:

Apple Intelligence won’t be in the first version of iOS 18 when new iPhones launch this fall. Look for it to start rolling out in updates starting in October, Bloomberg writes.
The Financial Times has what the North Americans call a “twofer,” looking at why Donald Trump’s plan to devalue the USD to boost manufacturing and lower the trade deficit likely wouldn’t work — and writing that a close reading of the sheep’s entrails suggests that SPACs may be regaining a tiny bit of favor.

MARKETS THIS MORNING-

It’s green (almost) as far as the eye can see in Asia this morning. The Nikkei leads the gainers (+2.5% at dispatch time) and only the Shanghai Composite is in the red (-0.2%). Futures are uniformly in the green for major Wall Street and European equities benchmarks.

Tadawul	12,175	+1.2% (YTD: +1.7%)
MSCI Tadawul 30	1,525	+1.5% (YTD: -2.4%)
NomuC	26,5503	+0.3% (YTD: +8.2%)
USD : SAR (SAMA)	USD 3.75	USD 3.75
Interest rates	6.0% repo	5.5% reverse repo
EGX30	29,036	-0.2% (YTD: +16.6%)
ADX	9,318	+0.2% (YTD: -2.7%)
DFM	4,280	+1.0% (YTD: +5.4%)
S&P 500	5,459	+1.1% (YTD: +14.5%)
FTSE 100	8,286	+1.2% (YTD: +7.1%)
Euro Stoxx 50	4,863	+1.1% (YTD: +7.5%)
Brent crude	USD 81.13	-1.5%
Natural gas (Nymex)	USD 2.01	-1.7%
Gold	USD 2,428	+1.2%
BTC	USD 68,056	-1.2% (YTD: +60.7%)

THE CLOSING BELL: TADAWUL-

The TASI rose 1.2% yesterday on turnover of SAR 6.0 bn. The index is up 1.7% YTD.

In the green: Kingdom Holding Company (+10.0%), Miahona (+9.9%) and Saudi Manpower Solutions (+9.8%).

In the red: Almunajem Foods (-4.7%), National Company for Learning and Education (-3.9%) and Al Hassan Ghazi Ibrahim Shaker (-3.5%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.3% yesterday on turnover of SAR 5.1 bn. The index is up 8% YTD.

In the green: Neft Alsharq (+14.8%), Balady (+6.5%) and Edarat (+5.9%).

In the red: Almuneef (-5.7%), Lana (-56%) and Mulkia (-5.5%)

CORPORATE ACTIONS-

Dallah Healthcare shareholders approved the distribution of SAR 49 mn in dividends for 1Q 2024 at SAR 0.5 per share, with the payout set for Wednesday, 14 August, it said in a disclosure to Tadawul.

CALENDAR

JULY

4 July-25 August: (Thursday-Sunday): Esports World Cup, Boulevard Riyadh City, Riyadh.

21-30 July (Sunday-Tuesday): International Chemistry Olympiad, King Saud University, Riyadh.

AUGUST

3 August (Saturday): Riyadh Season Card featuring Terence Crawford vs. Israil Madrimov, Los Angeles BMO Stadium.

4 August (Sunday): Last day to apply to the Digital Government Authority (DGA) awards.

12-13 August (Monday-Tuesday): Monshaat Franchise Tour, Al-Khobar.

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

18 August (Sunday): New academic year begins.

18-22 August (Sunday-Thursday): SANS Riyadh Cyber Leaders August 2024, Hyatt Regency Riyadh Olaya.

27-29 August (Tuesday-Thursday): Saudi Fashiontex Expo, Riyadh.

SEPTEMBER

2-4 September (Monday-Wednesday): Saudi Warehousing & Logistics Expo, Riyadh.

2-4 September (Monday-Wednesday): Saudi Wood Expo, Riyadh.

3-5 September (Tuesday-Thursday): 24 Fintech, Front Exhibition & Conference Center, Riyadh.

9-11 September (Monday-Wednesday): International Manufacturing Congress, Riyadh.

10 September (Tuesday): Saudi Arabia Investors Forum, Riyadh.

10-11 September (Tuesday-Wednesday): SkyMove MENA, Riyadh.

10-11 September (Tuesday-Wednesday): Middle East LPG Expo – Saudi Arabia 2024, Intercontinental Hotel, Riyadh.

10-12 September (Tuesday-Thursday): Saudi Sports Show, Riyadh.

10-12 September (Tuesday-Thursday): Global AI Summit, Riyadh.

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

16-19 September (Monday-Thursday): Foodex Saudi, Riyadh.

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

17-19 September (Tuesday-Thursday): Hotel & Hospitality Expo, Front Exhibition & Conference Center, Riyadh.

18-19 September (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam.

18-19 September (Wednesday-Thursday): IDC Saudi Arabia CIO Summit 2024, Riyadh.

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

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

27 September (Friday): CAF Super Cup Final 2024, Riyadh.

29 September (Sunday) - 1 October (Tuesday): Jeddah Construct Expo, Jeddah.

OCTOBER

1-3 October (Tuesday-Thursday): Intersec Saudi Arabia 2024, Riyadh.

5-7 October (Saturday-Monday): Middle East Education & Training Exhibition 2024, Jeddah.

15-16 October (Tuesday-Wednesday): Solar & Storage Live KSA, Riyadh.

16-17 October (Monday-Tuesday): Global Airport & Aviation Forum, Jeddah.

21-22 October (Monday-Tuesday): Smart Ports & Logistics Transformation Summit, Riyadh.

21-22 October (Monday-Tuesday): Aussie Expo, King Abdullah Financial District Conference Center, Riyadh.

29-31 October (Tuesday-Thursday): Future Investment Initiative Conference, Riyadh.

31 October (Thursday): No-visa travel for Saudis to Montenegro on charter flights expires.

NOVEMBER

2-9 November (Saturday- Saturday): WTA Finals, Riyadh.

4-7 November (Monday-Thursday): Saudi Build, Riyadh.

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

11-12 November (Monday-Tuesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh.

11-12 November (Monday-Tuesday): Saudi Airport Exhibition, Riyadh.

11-14 November (Monday-Thursday): Cityscape Global, Riyadh.

18-20 November (Monday-Wednesday): The Heavy Equipment and Truck Show, Dammam.

19-21 November (Tuesday-Thursday): Saudi International Maritime Forum, Dammam.

25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.

26-28 November (Tuesday-Thursday): Future Power Expo, Riyadh.

DECEMBER

1 December (Sunday): Opec+ to meet.

2-3 December (Monday-Tuesday) Wings of Change Middle East, Riyadh.

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

11 December (Wednesday): FIFA Congress, which will decide the hosting countries for the FIFA World Cup 2030 and 2034

23-26 December (Monday-Thursday): Aqarat Expo, Riyadh.

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

JANUARY 2025

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh.

FEBRUARY 2025

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

14-15 February (Friday-Saturday): Formula E, Diriyah.

JUNE 2025

26 June (Thursday): 2024-2025 academic year ends.

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

2027

The World Water Forum takes place in Riyadh.

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