Almoosa Health prices IPO top of the guidance range at SAR 127 apiece

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Export-oriented manufacturers can have customs duties waived on input materials

Good morning, friends, and welcome to a brisk almost-THURSDAY issue. Leading the newswell this morning is Almoosa Health pricing its IPO at the top of its guidance range, implying a market cap of SAR 5.6 bn once it lists on the Tadawul.

^^ We have the details on this story and others below.

HAPPENING TODAY-

The two-day Impact Makers Forum (ImpaQ) is set to open its doors today, bringing together media influencers, industry experts, and digital content creators in Riyadh’s Mayadeen Hall.

ALSO- The two-day Forbes Middle East’s Women’s Summit gets underway in a few hours at the Riyadh International Convention and Exhibition Center.

An all-star speakers lineup: Confirmed speakers include Princess Lamia Bint Majed Saud Al Saud, Princess Prof. Mashael Bint Mohammed Al Saud, Princess Doaa Bint Mohammed, and our friend Dalia Khorshid.

It’s the final day of the International Forum for Saudi Reef taking place at the Intercontinental Al Ahsa, covering sustainable agriculture, rural entrepreneurship, and technology in farming.

AND- It’s the penultimate day of the UN’s Internet Governance Forum in Riyadh.

Across the pond: It’s the second and final day of the last US Fed meeting this year. The Bank of England and the Bank of Japan will follow suit tomorrow.

Expect the Fed to sound a note of caution. The expectation since Donald Trump cruised to victory last month is now for fewer rate cuts over a longer period of time. A quarter-point today seems fairly likely (though less so than before US voters returned The Donald to office), but the swaps market is pricing in just 0.75 bps worth of cuts by next September, suggesting we could see as few as two 0.25 bps cuts next year. The FT has more on what to expect from the three meetings.

WEATHER- Bundle up in Riyadh today, where temperatures will peak at 19°C before plummeting to a crisp 6°C after sunset. Meanwhile, Jeddah will be basking in warmer temperatures at 32°C, tapering off to 23°C. Over in Madinah, expect cloudy skies with a high of 24°C by day and a low of 9°C.

PSAs-

#1- Manufacturers can now benefit from a waiver on customs duties for inputs they use in export-targeted products, according to a post on X from the Saudi Export Development Authority spokesperson.

The caveat: Companies looking to waive the duties must have a valid industrial license, and the inputs covered must be listed by the Industry and Mineral Resources Ministry. The company’s export performance for the last 12 months must also be reviewed before the waiver is granted.

#2- Companies are not permitted to send marketing material without the recipient's consent, which is a violation of Personal Data Protection Laws, the Saudi Authority for Data and Artificial Intelligence warned in a post on X. Recipients of unsolicited marketing material have the right to ask promoting companies to delete their personal data.

WATCH THIS SPACE-

#1- Some 91 agreements worth SAR 8.3 bn were signed at the Supply Chain and Logistics Conference in Riyadh, which concluded on Monday, according to state news agency SPA. The agreements aim to enhance the operations and efficiency of supply chains in the Kingdom. Details on the companies involved and the specific agreements were not disclosed.

#2- Yamama Cement board green lights new company for mineral sector investment: Yamama Cement ’s board of directors approved the company signing an MoU with Obeikan Investment Group and Sultan Holding Company (SHC) to form a holding company to start investing in the minerals industry, according to a disclosure to Tadawul. The company will focus on lithium, graphite, and silica production, among others. The MoU will be valid from the signing date until the end of June 2025.

#3- Some 30 Polish companies are setting up shop in the Kingdom in 1Q 2025, state news agency SPA quotes Polish Deputy Prime Minister Krzysztof Gavkowski as saying at a meeting with the Federation of Saudi Chambers. The meeting probed areas of potential cooperation in food security, and agriculture, as well as mutual access to both the Polish and Saudi markets.

#4- The Capital Market Authority signed off on two IT solutions firms debuting on the Nomu, allowing Axelerated Solutions to list a 10.7% stake, and Anmat Company to list an 11.6% stake, according to statements from the authority (here and here).

About Axelerated Solutions: Founded in 2015, the Riyadh-based company offers a wide range of IT services, including mobile app development, cloud computing, data protection, and technical support.

About Anmat: Also based in the capital, Anmat was set up in 2007 as an ICT systems integrator. The company specializes in IT infrastructure, cybersecurity, unified communications, and digital solutions. It operates across several sectors, including education, healthcare, and finance.

DATA POINTS-

Power distribution networks are now 32% automated, with plans to raise the automation level to 40% by the end of 2025, state news agency SPA quotes the Energy Minister Abdulaziz Bin Salman as saying at an industry event. The ministry also has plans to add nine advanced control centers by 2026.

SPORTS-

The Next Gen ATP Finals kicks off at King Abdullah Sports City and will see four matches played each day — two in the afternoon, and two in the evening — with the final scheduled for Sunday, 22 December. Each player will have three round-robin matches, before the top two in each group meet in the semifinals. Matches are best of five sets, with the first player to take four games taking the set. Check out the Next Gen website for more details.

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THE BIG STORY ABROAD-

No single story is capturing the attention of the foreign pages this morning. Among those worth noting:

Japan’s Nissan and Honda are in talks over a potential merger, which could help the auto giants stay resilient in the face of increased competition from EV players. The two sides are expected to ink an MoU soon to officially kick off discussions of “partnership-broadening steps, including the details of a potential merger.” The news sent Nissan's shares soaring, rising as much as 24%, while Honda’s shares fell as much as 3.4%. (FT | Reuters | Bloomberg | NYT | BBC | The Guardian)

IN NEW YORK — The killing of UnitedHealth’s Brian Thompson stirs public opinion: Luigi Mangione has been indicted for the murder of UnitedHealthcare executive Brian Thompson, facing charges of first-degree murder and terrorism after gunning down Thompson outside a Manhattan hotel earlier this month. The killing, described as a “well planned attack meant to sow terror,” has sparked public debate about healthcare costs in the US and donations to Mangione’s legal defense fund. Mangione’s extradition hearing is set for Thursday in Pennsylvania, where he is being held on unrelated gun charges. (Reuters | CNN | NYT | AP)

CIRCLE YOUR CALENDAR-

#1- The three-day Future Minerals Forum kicks off on 14 January at Riyadh’s King Abdulaziz International Conference Center.

#2- The three-day Future Hospitality Forum opens its doors 11 May at the Mandarin Oriental Al Faisaliah, Riyadh.

#3- The three-day Real Estate Future Forum kicks off on 27 January at the Four Seasons, Riyadh.

#4- The Money 20/20 fintech conference will run from 15-17 September 2025. As a global hub for payments, banking, and financial services innovation, Money 20/20 promises to bring together industry leaders to shape the future of fintech.

Almoosa Health prices IPO top of the guidance range

Almoosa Health priced its Tadawul IPO at SAR 127 apiece — the top of the range it was guiding on — after its institutional offering was 103x oversubscribed, drawing SAR 173 bn in orders, according to a press release (pdf). The final pricing will see the firm lock in nearly SAR 1.7 bn in proceeds, giving it a market cap of SAR 5.6 bn at listing. The story also got ink from Bloomberg.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

What’s next? Some 20% of the shares on offer will be open to retail investors for a two-day period starting Monday 23, December. They will be able to book between 10k-250k shares each. The final allocation of shares will be announced no later than Sunday, 29 December.

REFRESHER- The Al Ahsa based hospital operator is taking a 30% stake to market in a combined offering that’s shaping up to be Saudi’s second-largest IPO of the year, following Fakeeh Care’s USD 764 mn debut. Almoosa secured anchor investments for 22% of the offering, while 33% of it is earmarked for public funds.

Use of proceeds: Part of the proceeds — after deducting an estimated SAR 52.4 mn in offering expenses — will be distributed to the selling shareholders (Abdulaziz bin Abdullah Almoosa Investment and Abdulaziz Abdullah Almoosa Charity) while the remaining will fuel the company’s growth plans and repay outstanding debt.

Latest earnings: Almoosa logged SAR 13.7 mn in net income in 1Q 2024, dipping 47.4% y-o-y, despite a 19.1% uptick in revenues to SAR 277.2 mn on the back of a new tower opening in Al Ahsa, according to its prospectus (pdf).

ADVISORS- Our friends at EFG Hermes are underwriters and bookrunners on the transaction, alongside Banque Saudi Fransi Capital, which is also acting as the lead manager and financial advisor. PwC is financial due diligence advisor as well as market consultant, while Latham and Watkins is providing counsel. Moelis is advising the selling shareholders.

Sports Boulevard to launch a new real estate fund with a JV of Ardco + FTG

A new SAR 3.5 bn real estate fund: Sports Boulevard Company for Real Estate Development and Investment signed a seven-year agreement with a new ly-established JV between Riyadh Development Company (Ardco) and Turkey’s FTG Development Company to launch a SAR 3.5 bn real estate fund, according to a disclosure to Tadawul.

The fund will develop a 39.8k sqm mixed-use towers project with a built-up area exceeding 207k sqm in the Urban Wadi in Riyadh’s Sports Boulevard.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Who is doing what? Jadwa Investment will manage the fund, while the Sports Boulevard Company is the main investor providing the land (in-kind investor). Ardco (local investor) and FTG Development Company (foreign investor) will lead the development work, and ownership percentages will be determined later.

Seven taps Alfanar Projects for a SAR 1.3 bn entertainment destination

PIF’s Saudi Entertainment Ventures (Seven) awarded a SAR 1.3 contract to AlfanarProjects to develop a 60k sqm entertainment destination in Jazan, according to a press release. The project will have a total built-up area of 73k sqm, and will be designed by US-based architecture firm Gensler. The timeline wasn’t disclosed.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Seven is investing SAR 50 bn to build 21 entertainment destinations in 14 cities nationwide. It unveiled its first entertainment destination in Abha’s Aseer province in November last year.

REMEMBER- Seven was added to the portfolio of Qiddiya Investment Company, a wholly-owned subsidiary of the Public Investment Fund (PIF), earlier in May to “achieve integration between the two company’s activities in the [entertainment] sector.” Qiddiya, a USD multi-bn development, aims to become the world’s largest entertainment hub.

Cabinet greenlights industrial incentives + a handful of agreements

The cabinet yesterday approved industrial incentives aimed at increasing investments, while ramping up local manufacturing as part of a broader localization push, according to a post on Linkedin. The details will be announced on Sunday, 12 January.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

The cabinet also approved a handful of other agreements including:

A potential MoU with Brunei on youth and sports cooperation;
A potential agreement with Kyrgyzstan on mutual recognition of driving licenses;
Environmental cooperation agreements with Cuba and a potential agriculture agreement with Brazil;
A potential geological cooperation with Iraq;
A legal cooperation agreement with Singapore.

World’s first graphene-enriched carbon fiber venture launched in Saudi

MANUFACTURING-

The Kingdom gets the world’s first graphene-enriched carbon fiber venture: Homegrown Organized Chaos Holding (OCH) and the UK-based Graphene Innovations Manchester (GIM) launched the world’s first graphene-enriched carbon fiber venture in Saudi Arabia, according to a press release. The new entity, GIM GrapheneFibre, is expected to add SAR 6 bn to the Saudi economy.

We knew this was coming: GIM said earlier this month it was gearing up to roll out the world’s first commercial graphene-enhanced carbon fiber line in partnership with Neom, with the collaboration promising GBP 250 mn in investments into a Manchester-based R&D hub.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

MINING-

The Kingdom gears up to launch a commercial pilot program for direct lithium extraction from brine at Aramco’s oil fields, after it was detected in gathered brine samples, Deputy Industry and Mineral Resources Minister Khalid Al Mudaifer told Reuters. The project will be led by startup Lithium Infinity (Lihytech), along with PIF’s Ma’aden and Aramco. Al Mudaifer believes the project could become commercially viable if lithium prices continue to rise.

EXPANSION-

Saudi-based influencer marketing platform Halo AI officially launched its operations in the Kingdom, according to a press release. The platform uses AI tools to help brands reach out to small influencers to promote their products. Halo AI plans to launch in the UAE and Kuwait next.

REGIONAL HEADQUARTERS-

Global event organizers RX Global, Messe München, and Clarion Events agreed to open regional offices in the Kingdom, the Saudi Conventions and Exhibitions General Authority said. No further details were disclosed.

TRADE-

Saudi Arabia imposed definitive anti-dumping measures on PVC-coated textiles and fabrics from China and South Korea, with rates ranging from 25.6% to 51%, effective for five years from now, according to a statement from the General Authority of Foreign Trade. The decision came following an investigation triggered by complaints from several domestic industry players.

REMEMBER- The Kingdom also imposed anti-dumping tariffs on Russian and Chinese imports of Sulphonated Naphthalene Formaldehyde — a water-reducing agent used in concrete mixing — earlier this month.

INFRASTRUCTURE-

PIF-backed developer Diriyah awarded a SAR 758.5 mn (USD 202.2 mn) contract to China Harbour Engineering Company for bulk excavation for the second phase of the Diriyah project, according to a press release. The work will prepare the site for cultural assets, including the Royal Diriyah Opera House and a 20k-seat Diriyah Arena.

REAL ESTATE-

RetalUrban Development signed a SAR 349 mn contract with its subsidiary Building Construction Company to develop 502 residential units in Riyadh’s Al Fursan district, according to a disclosure to Tadawul. The 2.5-year contract will be financed through existing loans and off-plan sales.

LOGISTICS-

Saudi conglomerate Falak partnered with Egypt’s Al Tawakol for Steel Fabrication andGalvanization to manufacture and supply telecommunications towers for the Saudi market under a supply chain agreement they signed, according to the Egyptian State Information Service.

ALSO- The agreement covers expanding specialized steel and galvanization operations, supporting participation in public sector tenders, and supporting future cooperation between the pair on broader industrial projects.

DEBT WATCH-

Modular building solutions firm Red Sea International lined up a SAR 392.2 mn shariah-complaint loan with Riyadh Bank, according to a disclosure to Tadawul. The three-year facility will be used to secure bank guarantees for a project signed with Italian construction firm Webuild to build a staff camp.

M&A activity rebounds with USD 3.5 tn in transactions in 2024, ending two-year decline -Bain

Muted growth for M&A activity this year: M&As are expected to end the year with a 15% y-o-y growth to USD 3.5 tn, marking a 7% y-o-y increase in volume, and reversing a two-year decline, Bain & Company says in its latest report. Still, activity fell short of earlier hopes for a robust recovery, especially with regards to a detente on valuations and regulatory concerns — prompting dealmakers to become more selective and look for cost synergies amid a higher interest rate environment. Strategic M&A valuations also remained at a historical low, well below public market valuations, which spiked this year.

The Middle East played a big role in M&A transactions throughout the year, with inbound and domestic M&A activity growing 88% y-o-y, totaling USD 36 bn in the first ten months of 2024, according to a press release (pdf) from Bain. This growth has been primarily driven by sovereign wealth funds and government-related entities in Saudi Arabia and the UAE. Middle Eastern acquisitions of European targets also doubled in 2024, with a bigger focus on cost synergies.

The breakdown: Globally, private equity transaction value grew by 29% y-o-y, while venture capital showed a similar 30% increase, and corporate M&A is on track to grow 12% y-o-y.

Energy, natural resources and technology were the biggest M&A sectors for the region: The energy and natural resources sector saw transactions grow 140% y-o-y, while activity in the technology sector grew 90% y-o-y, and advanced manufacturing services saw an increase of around 300% y-o-y.

M&As took longer to close due to increased regulatory scrutiny, which extended acquisition timelines in 2024, with nearly 47% of dealmakers saying that regulatory concerns influenced their acquisition considerations. The Middle East became a good region for M&A activity due to its comparably favorable regulatory environment, Bain said.

Smaller M&A transactions accounted for the lion’s share of activity: Transactions valued at less than USD 1 bn accounted for 95% of all activity, with volume growing for the first time in four years.

Scale deals — where companies target a bigger market share through an acquisition — accounted for 59% of total global transaction value, marking the highest proportion since 2015. This trend was also prominent in the Middle East as firms sought to consolidate their leading positions in key sectors.

MARKETS THIS MORNING-

Asian markets are mixed yet again as traders await interest rate decisions from Japan and China. Japan’s Nikkei is down 0.4%, while the broad-based Topix is up marginally. Meanwhile, South Korea's Kospi is up 0.6%. Over on Wall Street, futures are up marginally after another losing session for the Dow Jones, Nasdaq, and S&P 500.

TASI	11,949	-1.2% (YTD: 0.2%)
MSCI Tadawul 30	1,498	-1.3% (YTD: -3.4%)
NomuC	31,100	-0.1% (YTD: +26.8%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.25% repo	4.75% reverse repo
EGX30	30,601	-0.6% (YTD: +22.9%)
ADX	9,261	-0.2% (YTD: -3.3%)
DFM	5,080	+0.6% (YTD: +25.1%)
S&P 500	6,051	-0.4% (YTD: +26.9%)
FTSE 100	8,195	-0.8% (YTD: +6.0%)
Euro Stoxx 50	4,943	-0.1% (YTD: +9.3%)
Brent crude	USD 73.33	-0.8%
Natural gas (Nymex)	USD 3.31	+2.9%
Gold	USD 2,662	-0.3%
BTC	USD 106,038	0.0% (YTD: +152%)

THE CLOSING BELL: TADAWUL-

The TASI fell 1.2% yesterday on turnover of SAR 4.8 bn. The index is down 0.2% YTD.

In the green: Savola Group (+9.9%), Ardco (+3.9%) and Bawan (+3.8%).

In the red: Al Marai (-4.3%), Jahez (-4.2%) and Budget Saudi (-3.7%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.1% yesterday on turnover of SAR 77.2 mn. The index is up 26.8% YTD.

In the green: Al Muneef (+14.2%), Aqaseem (+6.5%) and Enma Alrawabi (+6.3%).

In the red: Dar Almarkabah (-7.6%), Academy Of Learning (-6.5%) and Purity (-6.5%)

CALENDAR

DECEMBER

15-19 December (Sunday-Thursday): Internet Governance Forum, King Abdulaziz International Conference Center, Riyadh.

18-19 December (Wednesday-Thursday): Impact Makers Forum (ImpaQ), Mayadeen Hall, Riyadh.

18-19 December (Wednesday-Thursday): Forbes Middle East’s Women’s Summit, Riyadh International Convention and Exhibition Center.

18-22 December (Wednesday-Sunday): Next Gen ATP Finals, King Abdullah Sports City, Jeddah.

18-20 December (Wednesday-Friday): Riyadh Season Snooker Championship, Boulevard City, Riyadh.

23-25 December (Monday-Wednesday): Retail offering for Almoosa Health’s Tadawul IPO.

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

24-25 December (Tuesday-Wednesday): Retail subscription period for Nice One’s Tadawul IPO.

29 December (Sunday): Final allocation for Almoosa Health’s Tadawul IPO.

31 December (Tuesday): Last day for taxpayers to benefit from Zatca’s fines and penalties waiving initiative.

1Q: BinDawood Holding expected to close 100% acquisition of Zahrat Al Rawdah Pharma

1Q: Roshn expected to raise SAR 2.6 bn from international bank

JANUARY 2025

1-17 January (Wednesday-Friday): 2025 Dakar, Bisha and Shubaytah.

5 January (Sunday): Launch day for Riyadh Metro line 3.

7-9 January (Tuesday-Thursday) Saudi Tourism Forum, Riyadh Front, Riyadh.

12 January (Sunday): Launch ceremony of the standard incentives for the industrial sector.

13-16 January (Monday-Thursday): Hajj Conference and Exhibition, Superdome, Jeddah.

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

15-16 January (Wednesday-Thursday): The International Learning and Technology Conference, Effat University, Jeddah.

21 January (Tuesday): Data Center Nation, Mandarin Oriental Al Fasisaliah, Riyadh.

21-23 January (Tuesday-Thursday): The International Exhibition for Material Handling,Equipment, Warehouse Supplies, Forklifts & Heavy Equipment, Riyadh International Exhibition Center.

21-23 January (Tuesday-Thursday): Saudi International Exhibition for E-Marketing andE-Commerce, Riyadh International Convention and Exhibition Center.

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

27-29 January (Monday-Wednesday): Saudi Franchise Expo, Riyadh International Convention and Exhibition Center.

28-29 January (Tuesday-Wednesday): Federal Open Market Committee meeting.

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

29-30 January (Wednesday-Thursday): Global Labor Market Conference, Riyadh.

FEBRUARY 2025

1 February (Saturday): UFC event, The Venue, Riyadh.

3-5 February (Monday-Wednesday): Saudi International Marine Exhibition (SIMEC), Riyadh.

4-5 February (Tuesday-Wednesday): The RLC Global Forum, Riyadh.

4-5 February (Tuesday-Wednesday): Capital Markets & ESG Finance, Hilton Riyadh Hotel & Residences.

6 February (Thursday): Property registration deadline for owners in several districts of seven Qassim cities.

6-8 February (Thursday-Saturday): LIV Golf season opener, Riyadh Golf Club, Riyadh.

8 February (Saturday): Sotheby’s first auction in the Kingdom, Diriyah.

9-12 February (Sunday-Wednesday): LEAP Tech Conference, Malham, Riyadh.

9-12 February (Sunday-Wednesday): DeepFest by Leap, Riyadh.

10-12 February (Monday-Wednesday): Saudi Travel Market, Riyadh International Exhibition Center.

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

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

15-18 February (Saturday-Tuesday): Week one of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

16-17 February (Sunday-Monday): AlUla Conference for Emerging Market Economies, AlUla.

19 February (Wednesday): Derayah REIT dividend distribution.

19-21 February (Wednesday-Friday): Saudi Media Forum, Riyadh.

22 February (Saturday): Founding Day.

23-27 February (Sunday-Thursday): Riyadh International Disputes Week, Hilton Riyadh Hotel Granada.

24-27 February (Monday-Thursday): Week two of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

MARCH 2025

1-30 March: Ramadan.

18-19 March (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

31 March- 3 April (Monday-Thursday): Eid Al Fitr.

APRIL 2025

14-16 April (Monday-Wednesday): Future Hospitality Summit, Mandarin Oriental Al Faisaliah, Riyadh.

21-24 April (Monday-Thursday): Saudi Food Exhibition and Conference, Riyadh.

22-23 April (Tuesday-Wednesday): AAM Middle East, Riyadh.

7-9 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh.

MAY 2025

6-7 May (Tuesday-Wednesday): Federal Open Market Committee meeting.

12-15 May (Monday-Thursday): Saudi Smart Manufacturing, Riyadh International Convention & Exhibition Center.

13-14 May (Tuesday-Wednesday): Global EV & Mobility Technology Forum, The Arena, Riyadh.

23 May (Friday): Guns N’ Roses Show, Riyadh.

31 May-5 June (Saturday-Thursday): Hajj.

JUNE 2025

6-9 June ( Friday-Monday): Eid al-Adha.

17-18 June (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

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

JULY 2025

31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022/2023 revenues to integrate e-invoicing solutions with Fatoora.

29-30 July (Tuesday-Wednesday): Federal Open Market Committee meeting.

SEPTEMBER 2025

15-17 September (Sunday-Tuesday): Money 20/20 Middle East, Riyadh.

17-18 September (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

23 September (Tuesday): Saudi National Day.

OCTOBER 2025

28-29 October (Tuesday-Wednesday): Federal Open Market Committee meeting.

NOVEMBER 2025

24-26 November (Monday-Wednesday) The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh Front Convention & Exhibition Centre, Riyadh.

DECEMBER 2025

December: The Fortune Global Forum 2025, Riyadh.

9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

2026

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

26-29 October (Monday-Thursday): World Energy Congress, Riyadh.

2027

The World Water Forum takes place in Riyadh.

The Ocean Race finishes in Amaala on the Red Sea.

Riyadh-Kudmi transmission line to be completed.

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Almoosa Health prices IPO top of the guidance range at SAR 127 apiece

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THIS MORNING: Export-oriented manufacturers can have customs duties waived on input materials

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This publication is proudly sponsored by

Almoosa Health prices IPO top of the guidance range

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Related

Sports Boulevard to launch a new real estate fund with a JV of Ardco + FTG

Related

Seven taps Alfanar Projects for a SAR 1.3 bn entertainment destination

Related

Cabinet greenlights industrial incentives + a handful of agreements

Related

World’s first graphene-enriched carbon fiber venture launched in Saudi

Related

M&A activity rebounds with USD 3.5 tn in transactions in 2024, ending two-year decline -Bain

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Almoosa Health prices IPO top of the guidance range at SAR 127 apiece

An independent publication supported by

Today at a glance

THIS MORNING: Export-oriented manufacturers can have customs duties waived on input materials

Get Enterprise daily

Related

This publication is proudly sponsored by

Almoosa Health prices IPO top of the guidance range

Related

Related

Sports Boulevard to launch a new real estate fund with a JV of Ardco + FTG

Related

Seven taps Alfanar Projects for a SAR 1.3 bn entertainment destination

Related

Cabinet greenlights industrial incentives + a handful of agreements

Related

World’s first graphene-enriched carbon fiber venture launched in Saudi

Related

M&A activity rebounds with USD 3.5 tn in transactions in 2024, ending two-year decline -Bain

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