Business community is bullish on Investment Law overhaul

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: The Gulf Mercantile Exchange is now live

Good morning, wonderful people. We have a relatively busy hump day issue for you, leading with some M&A as Ashmore Investment Saudi Arabia fully offloads its stake in Dubai-based school operator AlephYa. Let’s jump right in.

BUT FIRST- Shura Council members will begin a four-year term starting this Friday, 6 September after being appointed by King Salman, s tate news agency SPA reports. Current Shura Council Speaker Abdullah bin Mohammed bin Ibrahim Al Sheikh will remain in office for another term.

Shura Council mandate: The Shura Council and the Council of Ministers together form the regulatory authority of the Kingdom. The Shura Council submits its resolutions to the King, who then decides which matters should be referred to the Council of Ministers. If both councils agree, the resolutions are enacted with the King’s approval. However, if there is disagreement, the issue is sent back to the Shura Council for further investigation and revision. The revised matter is then presented to the King for a final decision. Laws, treaties, international agreements, and concessions are all issued by royal decree, following a review by the Shura Council.

HAPPENING TODAY-

#1- The 24 Fintech 2024 summit kicks off at the Riyadh Front Exhibition and Conference Center today, bringing together executives and policymakers to discuss fintech regulation, AI applications in finance, and green finance, among other topics. The event runs until Thursday, 5 September.

#2- The Saudi Arabia Snooker Masters continues until this Saturday, 7 September, at Green Halls in Riyadh. The round of 32 begins today, with names such as world no. 1 Mark Allen, Mark Selby, reigning world champion Kyren Wilson, and former world champion Judd Trump and several others on the schedule. You can check out the full schedule here.

WEATHER- Riyadh’s mercury will peak at 41°C before dropping to a low of 26°C. Meanwhile Jeddah wil see thunderstorms, with the day’s temperatures hitting a high of 39°C and a low of 32°C.

PSAs-

#1- Gulf Mercantile Exchange is now live: The Dubai Mercantile Exchange changed its name to Gulf Mercantile Exchange yesterday, following Tadawul Group’s acquisition of a 32.6% stake in the energy and commodities trader back in June.

How they’re positioning it: The name change reflects GME’s ambitions to grow both regionally and globally, it said yesterday.

#2- National Day is coming up: The Saudi Central Bank (Sama) — along with banks and all other institutions under Sama’s purview — will be off on Monday, 23 September in observance of the National Day, Sama said in a post on X.

#3- Understanding new off-plan sale + lease regs: The Abha Chamber of Commerce and Industry and the Real Estate General Authority are hosting a virtual orientation session at 10am today on the updated off-plan sale and lease regulations, the chamber said in a post on X. The session is designed to explain the new rules to investors, real estate players, and other stakeholders. Register here for the meeting and join via Zoom here.

#4- Private sector companies will have until 31 October to apply for the Labor Award organized by the Human Resources and Social Development Ministry, according to a statement. The award aims to honor and motivate outstanding establishments across four key areas: Localization, work environment, skills and training, and CEO contributions. Submissions can be made here.

WATCH THIS SPACE-

#1- The London Metal Exchange (LME) is considering listing Jeddah Islamic Port as a new aluminum delivery center, joining other centers in New York, Shanghai and London, Aleqtesadiah reports, citing sources it says have knowledge of the matter. The move would boost the Kingdom’s position as a global hub for metal storage, trade, and distribution and comes on the heels of the LME deciding in July to list Jeddah as a warehouse delivery point for copper and zinc.

#2- Virgin Atlantic is launching daily flights to Riyadh as of the end of March 2025, according to the carrier’s website. The new service will operate two-way flights connecting London’s Heathrow with Riyadh’s King Khalid International Airport.

#3- Coffee and sandwich chain Pret A Manger will open its first Jeddah store at King Abdulaziz International Airport, TimeOut Jeddah reported. The move will expand Pret’s network in the Middle East as it operates stores in Dubai, Kuwait, and Qatar.

SPORTS-

#1- Al Ittihad raised its bid to sign Brazilian winger Galeno to EUR 50 mn, according to sports journalist Fabrizio Romano and Portuguese outlet A Bola. This comes after FC Porto rejected on Sunday an earlier offer of EUR 40 mn. The PIF-owned club had offered Galeno EUR 6 mn per year as part of the package, but it seems that Porto didn’t budge on the winger’s EUR 60 mn release clause, A Bola says. The Saudi Pro League transfer window ended yesterday.

#2- Roma’s Smalling finalizes shift to Al Fayha: Former Manchester United defender Chris Smalling signed a two-year contract with Saudi’s Al Fayha, finalizing his departure from Italy’s Roma, Romano said in a separate post on X.

#3- Paris 2024 Paralympics: Abdulrahman Al Qurashi secured fifth place on Sunday in the 400m T53 race at the Paris Paralympics and will compete again tomorrow in the 100m wheelchair race, according to state news agency SPA. Meanwhile, Noor Al Sanaa finished sixth in the 100m T44 race, and Ghalia Al Anzi concluded her Paralympic debut after losing 3-0 in round 16 of table tennis to Britain’s Megan Shackleton.

***You’re reading EnterpriseAM Saudi, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We’re out Sunday through Thursday by 7am Riyadh time.

EnterpriseAM Saudi is available without charge thanks to the generous support of our friends at Cenomi.

Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on saudi@enterpriseAM.com.

DID YOU KNOW that we also cover Egypt, the UAE, the MENA logistics and climate industries?

Were you forwarded this email? Tap or click here to get your own copy of EnterpriseAM Saudi delivered every weekday.
***

THE BIG STORY ABROAD-

Developments related to the war in Gaza remain the main item across most international headlines, as Israeli prime minister Benjamin Netanyahu holds out on his added conditions for a ceasefire agreement with Hamas amid ongoing mass Israeli protests and news that the UK is halting some arms exports to the country.

Netanyahu continues to reject increasingly vehement calls from the Israeli street and international community to reach a ceasefire agreement with Hamas, saying yesterday that maintaining an Israeli troop presence in the Philadelphi corridor on the border between Gaza and Egypt remains a non-negotiable condition for an agreement. The comments come as a general strike, ongoing protests, and public spats in the Israeli cabinet continue to roil an increasingly divided country.

Meanwhile, the UK is banning the sale of some arms to Israel — including aircraft components — that risk being used in Israeli actions that seriously violate international law. The suspension constitutes the first such action by a major ally of Israel since the war’s inception.

IN BUSINESS NEWS- Volkswagen is considering closing factories in Germany for the first time in its 87-year history, setting it up to potentially renege on a promise to not cut jobs in Germany until 2029. The move comes as the car-maker has struggled to cope with a shrinking European and Chinese market for its EVs as new competitors and cheaper models increasingly take center stage.

Plus, Kamala Harris has expressed her opposition to Japanese Nippon Steel’s USD 15 bn bid for US Steel, saying at a campaign event late last night that the company “should remain owned and managed by Americans.”

AND- Georges Elhedery began his tenure as HSBC’s new CEO yesterday, saying in an internal memo that he plans to build on the bank’s current strategy as the bank seeks to shift from restructuring to growth in the coming period.

Elhedery is a familiar face to folks across our region, having served as CEO of HSBC for the Middle East, North Africa, and Turkey. He was earlier HSBC’s regional head of global markets for MENA and head of global banking and markets for the region.

CIRCLE YOUR CALENDAR-

The EFG Hermes London Conference kicks off in less than a week: 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.

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.

Smart Cities Saudi Expo 2024 runs 24-26 September at the Riyadh International Convention & Exhibition Center.

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.

Ashmore Saudi Arabia to pull out of UAE-based school operator AlephYa Education

Investment manager Ashmore Investment Saudi Arabia is set to fully divest from Dubai-based school operator AlephYaEducation, according to a press release. The divestment comes as US private equity firm TA Associates acquires a majority stake in AlephYa. Neither party put a value on the transaction.

The new shareholder structure: Existing investors Gulf Investment Corporation (GIC) and Oman International Development and Investment Company SAOG (Ominvest) will retain “significant” stakes, the press release says. Prior to the transaction, GIC held 35% and Ominvest 15%, according to their websites. It’s unclear whether either Ominvest or GIC sold down portions of their stake as part of the sale.

Use of proceeds: The school operator is set to use the fresh funds to “to enhance our [AlephYa] educational infrastructure, improve our facilities and increase our impact on new and existing students,” said Nadeem Masud and Chandra Tiwari, co-founders of AlephYa.

What’s AlephYa? Established in 2017, the company operates 13 schools across the Kingdom, the UAE, and Oman, offering American, British, and local curricula. AlephYa operates Al Majd National Schools in Riyadh, and Al Tarbiyah Al Islamiyah School. The company has more than 18.5k students enrolled in its schools.

ADVISORS- Our friends at Al Tamimi & Company were advisors to TA Associates on the transaction. Goodwin Procter also provided legal counsel, while PwC Middle East was financial advisor to TA.

Newly established businesses rise 78% y-o-y in 2Q 2024

Some 121.5k companies were established in the Kingdom in 2Q 2024, up 78% y-o-y, according to a Monsha’at report (pdf). Commercial registrations were up 4.3% on a quarterly basis.

Strong demand for Riyadh: Riyadh accounted for 32% of the new establishments, followed by Makkah at 23%, and the Eastern Region at 15.7%.

DATA POINT- Women-led businesses accounted for 47% of all actively running companies by the end of 2Q, while youth-led companies made up 38%.

Fintech in focus: Active fintech companies in Saudi numbered 216 at the end of 2023, with VC investments in the segment surpassing USD 1.8 bn at the end of 2023. The Kingdom is looking to achieve an 80% cashless society by 2030 by supporting the creation of 525 new fintech companies and channeling 20% of bank financing to SMEs (up from 5.7% in 2019). These prospective companies are expected to contribute USD 3.5 bn to GDP, and rake up USD 3.3 bn in venture capital (VC) investments.

REMEMBER- Saudi Arabia led VC funding in MENA in 1H 2024, with the Kingdom raking in some USD 412 mn in VC funding during the period, or more than half of the regional tally. Salla’s USD 130 mn pre-IPO investment round accounted for a third of those funds. International VC investors accounted for 28% of all new agreements over the same period, up 17% y-o-y.

Saudi consumers’ shopping behavior show preference for quality, convenience, big household names

Saudi consumers shop for quality + convenience: Some 71% of local shoppers claim they are willing to pay more for quality products, according to a report from consumer intelligence and data analytics company NielsenIQ on Saudi and UAE consumer behavior. Over in the UAE, some 72% of shoppers also reported the same approach. Meanwhile, some 64% of local consumers and 63% of UAE shoppers are willing to spend extra for time-saving solutions.

The domestic market leans towards mainstream FMCG brands, with a concentration in the mid-tier segment, leading to fewer brand entries. Conversely, the UAE market is more fragmented, featuring both affordable and premium brands with notable growth driven by new and innovative premium offerings.

What the pundits said: “KSA's larger population and competitive market dynamics have driven the success of mainstream brands, which offer a balanced mix of quality and affordability appealing to a broad consumer base,” said Andrey Dvoychenkov, NielsenIQ general manager for the Arabian Peninsula and Pakistan.

Beverages, frozen food, and dairy are dominating the FMCG sector here at home and in the UAE. Owing to their necessity, convenience, and growing consumer demand, these categories have seen consistent performance. On the other hand, the drop in categories such as home care, baby care, and paper products is linked to changing lifestyles and a growing preference for online shopping.

Tech + durable goods: The Kingdom saw a 4% annual increase in the sales of premium tech and durable products, compared to a 2% increase in the UAE.

Thakaa Med secures seed funding from Falak Angels

Homegrown AI-powered healthcare startup Thakaa Med has secured an undisclosed amount in a seed funding round led by Falak Angels, according to a press release. Thakaa Med uses artificial intelligence to provide predictive analytics, and personalized preventative healthcare solutions for patients.

Use of proceeds: Thakaa Med has earmarked the funds to advance its AI-powered models and diagnostic solutions and support the launch of its flagship products Dental IQ and Chest IQ.

IN OTHER STARTUP NEWS-

#1- Fresh program for startups in the water sector: The Environment, Water and Agriculture Ministry has officially launched the Sahabah program to support 40 growth-stage startups operating in the water sector within two years, state news agency SPA reported. Annual investments in the sector are worth SAR 300 bn. The ministry has previously launched similar programs for the agriculture sector (Sonbola), and the environment sector (Sedrah).

#2- Abu Dhabi’s Hulexo plans Saudi expansion following seed round: Hulexo, the Abu Dhabi-based enterprise resource planning (ERP) provider for small and medium-sized retail stores, has closed a seed investment that saw it raise capital from Arzan VC, Wamda reports. It did not say how much it raised. Arzan VC’s investment will fund Hulexo’s expansion plan into Saudi Arabia and Kuwait’s markets, among other expansion targets.

It’s just the start for the Saudi Pro League

It’s a broadly positive day for Saudi in the foreign press, with the conversation being led primarily by sports coverage and updates, in addition to some ink on the objectives of Saudi’s overhauled Foreign Investment Law.

Ivan Toney and Joao Cancelo signings for SPL clubs are just the start, Saudi Pro League CEO Omar Mugharbel told the Associated Press. “This is only the beginning with more transfers on the pitch and more development off the pitch.” The Saudi transfer window came to an end yesterday. SPL clubs are expected to spend only around a third of last summer’s USD 957 purchase slip, the AP writes.

Arsenal’s rejection of Al Ittihad’s informal loan offer for Leandro Trossard also got ink in the New York Times’ Athletic. The offer included a EUR 5 mn fee, along with a commitment to buy the forward next summer with a price tag between EUR 20 mn and EUR 25 mn.

IN NON-SPORTING NEWS- Saudi’s recently-revamped Investment Law — which promises to level the playing field between foreign and local investors — is set to give investors a “one-time registration” process in a bid to cut red tape, but the law’s success will depend on its implementation, different stakeholders and pundits tell Bloomberg. Investors are waiting on “clear, actionable guidelines” on the law’s implementation, but are broadly optimistic that the overhaul will help significantly streamline procedures.

Rotana launches a new 104-key hotel in Riyadh under its Edge by Rotana brand

TOURISM-

#1- Abu Dhabi-based hotel operator Rotana has launched Nova M Hotel Olaya Riyadh, the first project to be launched in the Kingdom under its Edge by Rotana brand, according to a statement. The 104-key hotel comes as Rotana targets to open nine properties in the Kingdom by 2028, four of which will be launched under the Edge by Rotana brand — three in Riyadh and one in Al Baha. The 2028 target would see Rotana double its key count in the Kingdom to 4.2k. Information about the size of investment wasn’t disclosed.

#2- Zannier Hotels partnered with Neom to launch the 100-key Zannier Zardun luxury eco-resort on the Gulf of Aqaba coast, according to a statement from Neom. No further information was provided.

ENERGY-

Saudi Arabia and Algeria boost LPG prices for September: Saudi Aramco and Algeria’s Sonatrach have increased official selling prices for liquefied petroleum gas for September by 3% to 13% compared to August on the back of increased global demand, traders told Reuters.

REAL ESTATE-

Egypt-based real estate developer Mountain View has acquired its first plot of land in a “strategic location” in Riyadh in partnership with Saudi developers Maya Real Estate Development and Investment and Al Saedan Real Estate, Asharq Business reports.

ENTERTAINMENT-

Dubai World Trade Centre event management and experiential agency DXB Live launched a new office in Riyadh, Emirati state news agency WAM reported. DXB Live is the organizer of the Saudi Food Show, Saudi Food Manufacturing, the International Petroleum Technology Conference, and LEAP, among others, Mubasher reports.

Netflix + Arab Fund for Arts and Culture launch initiative for women filmmakers in the Arab world: Netflix and the Arab Fund for Arts and Culture launched a new initiative aimed at providing training and support for up to 45 emerging Arab women filmmakers, according to a press release. The initiative is open to women candidates between the ages of 21-27.

The details: The initiative targets participants from Saudi Arabia, the UAE, Egypt, Jordan, and Kuwait. It’s slated for kick off in November with workshops in Jeddah, Cairo, and Dubai, and includes a visit to Netflix's production hub in Europe in early 2025. The deadline for submissions is next Sunday, 8 September, and successful candidates will be notified on 17 October.

AVIATION-

Flynas has kicked off flights to Sharjah Airport, adding seven weekly trips from Jeddah and two from Madinah to Sharjah, UAE state news agency WAM reported yesterday.

FINTECH-

Tamara is rolling out BNPL + consumer finance services: Fintech firm Tamara received preliminary approval from the central bank to offer consumer finance and BNPL services, according to a company statement.

EDUCATION-

#1- King Abdulaziz University launched its maiden AI training program, state news agency SPA. The semester-long program comprises 50 hours of training and 30 hours of assignments.

#2- King Faisal University launched the three-month Future Scientists program, aiming to train 145 high school students in scientific research and innovation, State news agency SPA reported.

Historic losses and US Fed uncertainty weigh on traders in September

September is often a turbulent month for asset classes including stocks, bonds, and gold — and there are few signs suggesting this year will be much different, Bloomberg writes.

What gives? Anxiety over whether the US Federal Reserve will cut rates (and by how much) later this month and generalized anxiety about the US presidential election.

The “traditional” September slump: Bonds, stocks, and gold regularly dip in September as traders rebalance portfolios after summer vacation, the business information service notes. Just about all of the S&P 500 and Dow’s biggest losses (in percentage terms) in each year since 1950 have come in September. Bonds have fallen in eight of the last ten Septembers, and gold has dropped every September since 2017.

Investors are eyeing this coming Friday’s US employment report for insights into the US economy and the Fed’s next moves. The Fed meets on 17-18 September and will then convene again in early November and mid-December. With Fed Chair Jerome Powell having largely settled the question of whether there will be a rate cut in September, the key issue now is the extent of the cut, Amy Wu Silverman, head of derivatives strategy at RBC Capital Markets wrote.

Politics is making things more fraught, with the prospect of a 10 September TV debate between Vice President Kamala Harris and former President Donald Trump is also adding to anxiety — to say nothing of the question of who is elected in November.

All eyes on Friday? “September has a mixed record, with risk-off sentiment being common, especially in election years,” Bob Savage, head of markets strategy and insights at BNY said. “The upcoming US jobs report will likely set the tone for the rest of the year,” he added.

MARKETS THIS MORNING-

Asian markets are mixed this morning, with the Hang Seng and Shanghai Composite both in the red and both the Nikkei and Kospi up slightly. Australia’s ASX 200 is essentially flat, as is India’s Nifty 50.

Futures suggest we’ll see US shares open under modest selling pressure at the opening bell later today, while most major European benchmarks we follow are set to today’s session in the green.

TASI	12,168	-0.2% (YTD: +1.7%)
MSCI Tadawul 30	1,516	-0.3% (YTD: -2.2%)
NomuC	26,198	-0.3% (YTD: +6.8%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	6.5% repo	5.5% reverse repo
EGX30	30,732	-0.6% (YTD: +23.5%)
ADX	9,363	+0.8% (YTD: -2.2%)
DFM	4,357	+0.7% (YTD: +7.3%)
S&P 500	5,648	+1.0% (YTD: +18.4%)
FTSE 100	8,364	-0.2% (YTD: +8.2%)
Euro Stoxx 50	4,973	+0.3% (YTD: +10.0%)
Brent crude	USD 77.52	+0.8%
Natural gas (Nymex)	USD 2.19	+2.9%
Gold	USD 2,531.70	+0.2%
BTC	USD 58,992.10	+1.1% (YTD: +40.1%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.2% yesterday on turnover of SAR 8.8 bn. The index is up 1.7% YTD.

In the green: Saudi Cable (+9.9%), Sasco (+7.2%) and Nama Chemicals (+6.4%).

In the red: Jabal Omar (-4.0%), Qacco (-3.1%) and Baazeem (-2.8%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.3% yesterday on turnover of SAR 41.5 mn. The index is up 6.8% YTD.

In the green: Al Rashid Industrial (+11.1%), NGDC (+8.4%) and Leaf (+7.9%).

In the red: Al Qemam (-9.1%), Marble Design (-8.2%) and Al Rasheed (-7.6%)

Saudi, Qatar discuss bilateral relations + FM talks Palestine with regional counterparts crisis with regional peers

The executive committee of the Saudi-Qatari Coordination Council convened in Riyadh on Sunday, in a meeting that was co-chaired by Foreign Minister Faisal bin Farhan Al-Saud and Qatar’s Prime Minister and Foreign Minister Mohammed bin Abdulrahman bin Jassim Al Thani, according to state news agency SPA.

ALSO- The foreign minister called his regional counterparts in Turkey, Egypt, and Jordan to discuss recent developments in Palestine, according to three separate SPA reports here, here, and here.

MEANWHILE- Transport and Logistic Services Minister Saleh bin Nasser Al Jasser talked transport and logistics cooperation with Cyprus’ Transport, Communication, and Works Minister Alexis Vafeades during a visit to Cyprus yesterday, state news agency SPA reports.

CALENDAR

AUGUST

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

30 August-7 September (Friday-Saturday): Saudi Arabia Snooker Masters, 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).

24-26 September (Tuesday-Thursday): Smart Cities Saudi Expo 2024, Riyadh Front Exhibition & Conference Center.

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

26 September-5 October (Thursday-Saturday): AlUla Skies Festival, AlUla.

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.

23-24 October (Wednesday-Thursday): UNIDO’s Multilateral Industrial Policy Forum (MIPF), 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.

11-12 November (Monday-Tuesday): Expenditure Efficiency Forum, The Hilton, 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

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

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.

Sections

About

Privacy & Support

Get EnterpriseAM daily