Manara Minerals submits offer for Reko Diq mining project stake

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Petrol Naas shares start trading on Nomu

Good morning, wonderful people. With the weekend within arm’s reach, we have what we like to call a Goldilocks issue — not quite a slow cycle, but nowhere near a torrential downpour.

HAPPENING TODAY-

Shares in petroleum derivatives manufacturer Petrol Naas will begin trading on Tadawul’s parallel market Nomu this morning, according to a Tadawul statement. The company’s shares will be allowed to trade within a ±30% range for the first three days before being capped at no more than 10% up or down when circuit breakers kick in. All shares on Tadawul are subject to the 10% up-or-down rule.

REFRESHER- Petrol Naas is taking a 20% stake (equivalent to 600k ordinary shares) public on Nomu in a secondary share sale, according to its prospectus (pdf). The company priced its shares at SAR 49 apiece, after lining up regulatory approval for the move back in March.

⚠️WEATHER WARNING- Storms continue through to next week: Makkah will continue to see heavy rain, flooding, and strong winds through to Saturday, the General Directorate of Civil Defense said, according to SPA. Madinah, Al Baha, Asir, Jazan, and Najran are also in for medium to heavy rain, the directorate said.

HAPPENING TOMORROW-

Trading on Savola Group’s SAR 6 bn rights offering kicks off tomorrow and wraps on Thursday, 5 September, it said in a filing to Tadawul. The trading period allows shareholders, and investors to buy and sell shares part of the offering. Meanwhile, the subscription period where shareholders can choose to exercise their rights to purchase additional shares, as offered in the rights issue concludes on Tuesday, 10 September.

REMEMBER- The offering aims to boost Savola’s capital by adding 600 mn shares valued at SAR 10 apiece. The Tadawul-listed player will then reduce its capital before offloading its entire 34.5% stake in Almarai to its existing shareholders, pending regulatory and shareholder approvals.

PSAs-

#1- A couple of new regs up for feedback on Istitlaa:

Telecom infrastructure + services in residential buildings: Proposed regulations that aim to govern the development of telecom infrastructure and services in residential buildings are up for public consultations on the government’s surveying platform Istitlaa until 26 September, state news agency SPA reports. The regulations cover the responsibilities of property developers and telecom service providers, in a bid to set high quality standards.
Prepayment for electricity services: Updated regulations for prepayment procedures for electricity services are open for feedback on the government’s survey platform Istitlaa. The regulations cover prepayment fees, balance recharging, and disconnection / reconnection procedures. Find the full draft here (pdf).

#2- Travelers and holders of ordinary passports will now be required to process their visa applications to China through a newly established center starting tomorrow, and not through the embassy, according to the center’s website. Meanwhile, the embassy will continue to directly process visa applications for those applying for diplomatic, or service visas. The embassy will also “extend the exemption of fingerprints collection for eligible applicants applying for single or double entry business, tourist, family visit, transit, or crew visas until 31 December 2024.”

#3- Tabuk’s landowners must fence vacant plots to avoid recurring financial penalties, the Tabuk Municipality said on X. This phase of the initiative targets the owners of 141 vacant plots in the municipality. You can apply for a fencing license here.

WATCH THIS SPACE-

#1- BNPL payments in Saudi Arabia are expected to reach USD 1.3 bn in 2024, up 16.2% on an annual basis, according to a Research and Markets report. The industry is projected to grow at a compound annual growth rate (CAGR) of 10.8% from 2024 to 2029, with the gross merchandise value reaching USD 2.2 bn by 2029, up from USD 1.1 bn in 2023.

#2- The Saudi Arabia accounting software market is expected to reach USD 75.7 mn by 2029, up from USD 44.5 mn in 2023, hitting a CAGR of 9.1% during the period, Research and Markets said in a separate report.

#3- Update for the gamers among us: The Esports Olympics are scheduled to take place in the Kingdom for the first time in 4Q 2025, Savvy CEO Brian Ward told Asharq Al Awsa t. The International Olympic Committee had said last month the event would happen next year, without specifying an exact time.

SPEAKING OF ESPORTS- Saudi Arabia's esports sector is expected to contribute USD 13.3 bn to the Kingdom’s GDP by 2030 and generate nearly 39k jobs, Arab News reports, citing a PwC Middle East report.

MARKET WATCH-

Tharwah shares fall on Nomu debut: Homegrown recruitment and HR agency Tharwah’s shares closed down 6.8% on its first day of trading on parallel market Nomu, according to Tadawul data. The shares — which had debuted at SAR 62.0 apiece — closed at SAR 57.8 apiece after recovering slightly from an intraday low of SAR 57.1 per share.

DATA POINTS-

#1- Some 18.5k people enrolled in the Real Estate Development Fund’s low-interest mortgage loan initiative between 4Q 2023 and 1Q 2024, state news agency SPA reported. The initiative allows Sakani beneficiaries to secure mortgage loan agreements at interest rates as low as 2.6%.

#2- The number of industrial establishments in Saudi Arabia reached 11.5k in 2023, up 60% from 2016, according to Alsharq Al Awsat.

OIL WATCH-

Oil prices fell 2% yesterday, ending a 7% rally over the three previous days, Reuters reported. The decline was driven by concerns that slower growth in the US and China could diminish energy demand.

SPORTS-

Neymar isn’t going anywhere: The Brazilian player’s representatives have brushed off reports of an exit from Al Hilal back to Barcelona as “lies,” the Daily Mail reports.

COMING TO SAUDI:

Joao Cancelo: Manchester City has signed off on defender Joao Cancelo’s GBP 21.2 mn transfer to Al Hilal, BBC reports under a three-year contract. The Portuguese player is expected to proceed with inking a three-year contract with the SPL club.
Yoann Barbet: Al Riyadh signed 31-year-old French defender Yoann Barbet on a one-year contract, according to King Fut.

NOT COMING TO SAUDI?

#1- Chelsea is looking to snag Brentford’s Ivan Toney, who also received a GBP 35 mnoffer from Al Ahli, according to Sky Sports. Chelsea “would not be able to match” Al Ahli’s offer, but would give the Brentford striker a place in the Premier League.

#2- Victor Osimhen is still a Napoli player, the football player’s agent said in a post on X. The player has reportedly received a GBP 60 mn offer from Al Ahli, the Independent reported.

AND- Saud Abdulhamid is joining Roma in a landmark move, becoming the first Saudi footballer to secure a permanent transfer to a top European league, according to the National. Abdulhamid joined the Yellow and Reds from Hilal for a fee of EUR 2.5 mn, potentially rising to EUR 3 mn with bonuses.

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THE BIG STORY ABROAD-

Trump gets indicted, again: Former President and current presidential nominee Donald Trump was hit with a fresh indictment yesterday in the 2020 election case, as special counsel Jack Smith submitted a revised indictment accusing Trump of election subversion.

The new indictment was revised to remove parts of the case that would conflict with arecent Supreme Court ruling granting presidents immunity for “official acts” while in office, including allegations “related to an effort … to make the Justice Department support his false claims of voter fraud.” The ruling, in effect, granted Trump immunity from being indicted over colluding with Justice Department officials because communicating with the Justice Department would count towards his “core official duties.”

The fresh indictment was filed at the eleventh hour before the start of a 60-day window before presidential elections, in which the Justice Department has a policy of avoiding prosecution-related work that could influence an election.

CIRCLE YOUR CALENDAR-

The EFG Hermes London Conference returns: EFG Hermes will hold its annual conference in London on 9-12 September, giving investors “unique and unparalleled access to leading equities in MENA and key frontier emerging markets.”

The Crown Prince Camel Festival runs until Tuesday, 10 September at the Taif Camel Racing Track, featuring 610 rounds of racing and a purse of SAR 56 mn.

The two-day Data Center Xpo summit will kick off in Riyadh on Tuesday, 3 September.

SRMG Academy’s technology journalism course will kick off in Riyadh on Sunday, 15 September. The five-day, TikTok-backed program will run until 19 September.

Fenaa Alawwal cultural center will kick off the contemporary art forum Muntada FAA on Sunday, 15 September at the Diplomatic Quarters in Riyadh. The forum runs until Thursday, 19 September.

The two-day Kingdom Business and Luxury Travel Congress will kick off on Wednesday, 25 September, at the Crowne Plaza Riyadh RDC Hotel and Convention.

The three-day Global Logistics Forum will kick off on Saturday, 12 October at Riyadh’s King Abdullah Financial District.

The Industrial Hackathon 2024 is scheduled for 10-11 October, the Saudi Industrial Development Fund spokesperson said on X. The hackathon will pit top Saudi talents against each other to showcase their design, production and sustainability solutions for the local manufacturing sector. Contestants will compete for a pool worth a combined SAR 1.4 mn.

Sipchem awards EPC contracts worth USD 169 mn to South Korea-based SGC

Tadawul-listed Sahara International Petrochemical (Sipchem) has awarded USD 169 mn EPC contracts to Seoul-based construction and engineering firm SGC E&C and its local offshoot SGC Arabia, according to a filing to Tadawul. The 28-month contracts will see both companies carry out expansionary works at the propylene and polypropylene plants of Sipchem’s subsidiary Al Waha.

Background: Sipchem wants to open new markets in Europe, India, South Asia and the broader Middle East. The Khobar-based petrochemical firm is looking to double its production capacity over the next seven years as it grows offshore sales. Sipchem also awarded EPC contracts worth USD 187 mn to SGC for the expansion of a chemicals manufacturing facility owned by an affiliate company earlier in July.

Additional production capacity: The expansion will boost annual propylene production capacity at Al Waha plant by 72k tonnes to 537k tones annually. Meanwhile, polypropylene (PP) output will increase by 150k tones to 600k per year.

What’s PP? a widely used thermoplastic, polypropylene is a key element used in nearly everything from fashion to automobiles. It is also commonly used in consumer goods packaging and the medical industry.

Manara Minerals could soon become a minority shareholder in Pakistan’s Reko Diq mining project

PIF-backed Manara Minerals has submitted an offer to acquire a 15% stake in Barrick Gold’s Reko Diq copper and gold mining project in Pakistan, Express Tribune reports, citing unnamed Pakistani officials. The offer includes both a cash purchase of shares and a grant for infrastructure development around the mining area. Information about the grant size wasn’t disclosed. The feasibility study would be completed by December of this year, while commercial production is slated for 2028, the news outlet reports, citing Barrick Gold.

Background: Manara — a JV between the Public Investment Fund and mining giant Ma’aden — was said to be close to a USD 1 bn investment in the mining project. The copper-gold mine is 50% owned by Barrick Gold and is expected to start production in 2028. The move comes as Pakistan looks to reel in some USD 5 bn for investments in mining and agriculture from Saudi Arabia by 2025, Express Tribune says.

About Reko Diq: The project is 50% owned by Barrick Gold, 25% by Pakistan's federal government, and 25% by Pakistan’s Balochistan province. Currently in the feasibility phase, production is expected by 2028. The estimated total project cost is between USD 6 bn and USD 6.5 bn, requiring USD 3 bn to USD 3.5 bn in debt financing.

WHAT’S NEXT- Pakistan has formed a negotiation committee to review the offer and recommend a final price to the federal cabinet. If accepted, Pakistan’s federal government will sell a 15% stake in the upcoming mining project. The federal government currently holds 25%. Infrastructure works tied to the acquisition will see Riyadh provide a grant to build the Mashkhel-Panjoor road, boosting connectivity to the mining area.

This is all happening as Riyadh and Islamabad are warming up: Foreign Minister Prince Faisal bin Farhan was in the Pakistani capital in April, a week after Pakistan’s prime minister discussed a USD 5 bn investment package during a meeting in Makkah with Crown Prince Mohammed bin Salman. Saudi Arabia has been among the key backers of crisis-hit Pakistan, extending the term of USD 3 bn in deposits at the State Bank of Pakistan for an additional year to December of this year. This is in addition to USD 2 bn in financial assistance last year to shore up Pakistan’s finances. Saudi Aramco also acquired a 40% stake in oil retail company Gas & Oil Pakistan in June.

The Kingdom’s e-commerce logs gains, well-positioned for growth ahead

Saudi-based e-commerce players locked in USD 428 mn in venture capital (VC) funding last year, making it the second-highest VC funded sector in the Kingdom, according to a report (pdf) by the General Authority for Small and Medium Enterprises (Monsha’at). The domestic e-commerce market also ranked 8th among all developing economies in 2023, despite remaining “relatively untapped,” according to the report.

E-commerce revenues are forecasted to hit SAR 211 bn (USD 56 bn) this year, and SAR 258.9 bn (USD 69 bn) in 2025, the report reads. E-commerce users are expected to hit 34.5 mn in 2025 — up 42% from their levels in 2019.

Imports aren’t leading the way: Only 35% of products bought online last year were imported, according to the report.

Market enablers in numbers: As of 2023, the Kingdom had 42.9k accessible online shops, with a total of 14k warehouses and storage spaces. The Saudi Business Center issued 26.3k verified e-commerce freelance certificates, while commercial registrations for businesses operating in the sector came in at 16.6k. Meanwhile, we had 191 shipping and delivery service providers as of 2022.

The outlook: The industry is expected to account for 12% of total GDP by next year, up from 4% in 2020. The sector has been growing at a compound annual growth rate (CGAR) of 15% since 2020 and is set to continue through to 2025.

PIF portfolio hotel gets ink for lower bottom line

PIF portfolio hotel group Rocco Forte Hotels saw its pre-tax net income fall by nearly half y-o-y at the end of April 2024 to GBP 158 mn, according to recent filings (pdf). City AM attributes the drop to costs worth GBP 16.7 mn associated with the transaction that saw the Public Investment Fund acquire a 49% stake in the group last year, valuing the group at GBP 1.2 bn.

Leno to offer invoice financing + reverse financing to the industrial manufacturing sector

FINANCE-

Peer-to-peer digital lending marketplace Lendo will offer financing solutions to the industrial manufacturing sector under a new agreement with the Mineral Resources Ministry, according to state news agency SPA. These solutions include invoice financing and reverse financing.

What’s reverse financing? The mechanism allows manufacturers to receive early payment from a financial institution for their invoices. The company then repays the institution on the original invoice due date. This benefits manufacturers with quicker cash-flow and provides the company with extended payment terms.

ENERGY-

Taqa + Jera secure funding for their Saudi JV: The Abu Dhabi National Energy Company (Taqa) and Japan’s Jera reached financial close on their Saudi joint venture, Najim Cogeneration Company, according to a joint press release (pdf). The JV aims to develop the Saudi Aramco Total Refining and Petrochemical (Satorp) Strategic Expansion Industrial Steam and Electricity Cogeneration Plant in Jubail. Information about the investment size wasn’t disclosed.

The details: The new cogeneration plant will supply up to 475 MW of power and 452 tons per hour of steam from an advanced combined cycle gas turbine (CCGT) which will be supplied by Mitsubishi Power.

BACKGROUND: Taqa and Jera entered into a power purchase agreement with Saudi Arabia’s Satorp, a joint venture between Aramco and TotalEnergies, to develop the plant back in March. The plant will be developed by a special purpose entity 51% owned by Taqa, with Jera holding a 49% stake, on a 25-year build, own, and operate basis, extendable by five years.

M&A WATCH-

Malaysia-based Dialog Group is selling its entire 60% stake in its Saudi JV Jubail SupplyBase (DJSB) to its JV partner Sedres Trading & Maritime Services for SAR 47.5 mn, according to The Edge Malaysia. The sale includes a payment of SAR 3 mn and a dividend of SAR 44.5 mn. Dialog will make a financial gain of SAR 900k from the sale, while its initial investment in the JV amounted to SAR 1.2 mn. The proceeds will be used to support Dialog’s working capital.

TELECOMS-

Saudi-based credit rating agency Simah Rating Agency (better known as Tassnief) has maintained its long term (A) and short term (T-2) ratings for Zain KSA, according to a press release. The rating action reflects the telecom company’s “robust credit profile,” strong subscriber base, reliable network coverage, and stable business and financial risk profile.

REAL ESTATE-

Tatweer Group’s development arm Al Gharbia is launching a new residential project, Roshan, in Northern Jeddah, the company said in a statement. The 1 mn sqm project will feature 614 residential plots, 20 commercial plots, seven schools, and seven public parks. There’s no publicly available information about the investment size or timeline.

AVIATION-

Flynas is adding five new routes connecting the Kingdom to the UAE, bringing the total number of operational routes to nine, up from four, according to a statement. The budget airline is set to launch three new destinations connecting Riyadh, Madinah, and Jeddah to Dubai, Abu Dhabi, and Sharjah starting 1-2 September.

Remember: Flynas is also looking to launch direct flights connecting Madinah to Bahrain and Doha starting next month. Meanwhile, the budget airline ran its inaugural direct flight to Egypt’s El Alamein International Airport last month.

DEBT WATCH-

Riyadh Steel has secured an SAR 10 mn bank facility with Saudi Awwal Bank, according to a disclosure to Tadawul. The one-year facility is earmarked for shoring up the steelmaker’s working capital.

CLIMATE-

Sail and King Abdulaziz University partner to protect marine environment: Marine Operations for Environmental Services (Sail), a subsidiary of PIF-owned Saudi Investment Recycling Company, signed an MoU with King Abdulaziz University to boost efforts for protecting the Kingdom’s marine environment, state news agency SPA reports. The agreement focuses on scientific research and surveys, laboratory development, and implementing training programs on dealing with oil spills.

Retailer Temu’s parent company sees stocks crash in latest warning over struggling Chinese economy

It’s not been a good week for Temu parent company PDD Holdings: Chinese fast fashion retailer Temu’s parent company PDD Holdings saw its shares fall by a whopping 29% during Monday trading on the Nasdaq — its biggest fall on record that saw its market value dip by some USD 55 bn. Things didn’t get much better for the company yesterday either, with its stock value falling another 4.1% by the end of trading.

The trigger: The company’s results for the second quarter of the year fell short of market expectations. The company recorded revenues of CNY 97.1 bn — up 86% y-o-y, but below Wall Street forecasts of CNY 100 bn. The crash came as a shock to global investors, as the company’s long-standing low-pricing strategy was expected to appeal to cost conscious consumers amid ongoing volatility and slowing Chinese consumption.

The results are “the latest in a series of red flags” in the Chinese economy, Bloomberg writes, pointing to disappointing earnings from a number of Chinese conglomerates over the last period that have also suffered from weak consumer demand in the world’s second largest economy. The “big issue” is the weakness of domestic consumer demand, Robeco Hong Kong’s Joshua Crabb told Bloomberg. “The read-across for competition and a weak consumer will be negative for sure.”

But the volume of the sell-offs may represent an overreaction: The size of the drop in shares was “too much of a correction,” CNBC quotes China Market Research Group Managing Director Shaun Rein as saying. Rein added that now would be a good time for investors to buy into the stock, emphasizing that the panic was “overblown.”

This comes at a crucial time for China, which is expected to see its first yearly outflow from its bourse since 2016 as overseas fund flows continue to exit the market. The country’s benchmark CSI 300 is down 3.7% for 2024 and is at risk of extending losses into a record fourth consecutive year.

MARKETS THIS MORNING-

Asian markers are in the red during early trading this morning, with traders eagerly awaiting Nvidia releasing its much anticipated earnings later today. Korea’s Kospi is down 0.5%, China’s Hang Seng is down 0.3%, and Japan’s Nikkei is down 0.2%.

TASI	12,182	-0.6% (YTD: +1.8%)
MSCI Tadawul 30	1,525	-0.8% (YTD: -1.7%)
NomuC	26,391	-0.2% (YTD: +7.6%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	6.5% repo	5.5% reverse repo
EGX30	30,363	+0.8% (YTD: +22.0%)
ADX	9,334	-0.2% (YTD: -2.6%)
DFM	4,343	+0.4% (YTD: +7.0%)
S&P 500	5,626	+0.2% (YTD: +18.0%)
FTSE 100	8,345	+0.2% (YTD: +7.9%)
Euro Stoxx 50	4,899	0.0% (YTD: +19.5%)
Brent crude	USD 79.8	-2.0%
Natural gas (Nymex)	USD 1.9	-2.7%
Gold	USD 2,560.10	+0.2%
BTC	USD 61,878.50	-2.5% (YTD: +46.5%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.6% yesterday on turnover of SAR 8.4 bn. The index is up 1.8% YTD.

In the green: Red Sea (+7.5%), Allianz SF (+5.5%) and Zamil Industrial (+4.5%).

In the red: Al Baha (-7.7%), Miahona (-4.7%) and Sisco Holding (-3.4%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.2% yesterday on turnover of SAR 39.2 mn. The index is up 7.6% YTD.

In the green: Qomel (+12.0%), Mobi Industry (+7.3%) and Marble Design (+4.0%).

In the red: Al Razi (-8.9%), Osool and Bakheet (-8.9%) and Molan (-7.4%)

CORPORATE ACTIONS-

Thimar Development Holding has filed an application with the CMA to increase its capital by SAR 195 mn via a shares offering, it said in a disclosure to Tadawul.

Palestinian President Mahmoud Abbas is in town

Crown Prince Mohammed bin Salman met with Palestinian President Mahmoud Abbas yesterday to discuss developments in Israel’s war in Gaza, according to state news agency SPA. Abbas arrived in Riyadh on Monday and met separately with Deputy Governor of Riyadh Region Prince Mohamed bin Abdulrahman bin Abdulaziz and Foreign Affairs Minister Prince Faisal bin Farhan Asharq Al Awsat reports.

Saudi and Portugal established a Saudi-Portuguese Business Council, st ate news agency SPA reported. The new council will look to ramp up bilateral trade and investments in infrastructure, agriculture, tourism, technology, and renewable energy.

CALENDAR

AUGUST

10 August-10 September (Saturday-Tuesday): Crown Prince Camel Festival, Taif Camel Racing Track.

25-29 August (Sunday-Thursday): Tourism Week, Enterprise Support Centers in Riyadh, Jeddah, Al-Khobar, and Madinah.

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.

3-4 September (Tuesday-Wednesday): Data Center Xpo, Voca, Riyadh.

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

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

9-12 September (Monday-Thursday): EFG Hermes London Conference, Emirates Stadium, London.

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.

15-19 September (Sunday-Thursday): SRMG Academy Technology Journalism Workshop, Riyadh.

15-19 September (Sunday-Thursday): Muntada FAA, 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).

25-26 September (Wednesday-Thursday): Kingdom Business and Luxury Travel Congress, Crowne Plaza Riyadh RDC Hotel and Convention.

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

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

29 September (Sunday): Start of Digital Chip Design Technologies training program.

OCTOBER

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

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

12 October (Saturday): Riyadh Season.

12 October (Saturday): Shakur Stevenson x Joe Cordina, Riyadh.

12-14 October (Saturday-Monday): Global Logistics Forum, Riyadh.

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

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

19 October (Saturday): Battle of the Giants, Mayadeen Hall, Riyadh.

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.

21-23 October (Monday-Wednesday): Global Health Exhibition 2024, Riyadh.

26 October (Saturday): Donor Conference to Support Refugees in Sahel and Lake Chad Regions, TBD.

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.

19-20 November (Tuesday-Wednesday): The Women's Economic Forum 2024, 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.

3-5 December (Tuesday-Thursday): The International Business Exchange – IBEX EVENTS, 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

14-16 January (Tuesday-Thursday): Future Minerals Forum, King Abdulaziz International Conference Center, Riyadh.

27-29 January (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

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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