Crown Prince lands in Washington, DC to lavish reception, dinner, and defense and AI agreements

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: Big AI agreements fail to calm tech sell-off

Good morning. Saudi is dominating global headlines this morning after Crown Prince Mohammed bin Salman landed in the US yesterday on a work visit, greeted by President Trump in a lavish reception that underscored the warm ties between the two leaders. The visit saw a flurry of agreements signed to elevate US-Saudi partnership on key issues, including defense (and the much-coveted F-35 jets), minerals, AI, and a pathway to nuclear cooperation. We have the full coverage in today’s lead story.

HAPPENING TODAY-

Shares of Abdulaziz Ahmad Altwijri Trading will begin trading on Tadawul’s parallel market Nomu tomorrow, according to a Tadawul statement. The company’s shares will be allowed to fluctuate within a 30% range for the first three days, after which volatility will be capped at ±10% as circuit breakers take effect.

REFRESHER- The company priced its 20% stake IPO at the top of its indicative price range at SAR 25 per share, after the offering was 122% oversubscribed. The pricing would give Altwijri Trading a market cap of SAR 125 mn at listing and should see it raise some SAR 25 mn in IPO proceeds.

WEATHER- Misty and dusty skies are expected over the Eastern Region and Al Jouf, with patches of dense fog reducing visibility at times. Moderate to light rain showers are forecast for parts of Hail, Makkah, Al Baha, Al Qassim, Aseer, Al Jouf, Tabuk, Jazan, and the Northern Borders Province.

Riyadh: 28°C high / 18°C low.
Jeddah: 31°C high / 24°C low.
Makkah: 30°C high / 23°C low.
Dammam: 32°C high / 18°C low.

PSAs-

Students at public schools will start their autumn break on Thursday, 20 November, kicking off the longest holiday of the first semester, Okaz reports. The ten-day break applies to students, teachers, and administrative staff, ending Saturday, 29 November.

More siestas on the way: The next holiday will be an extended weekend on Thursday, 11 December. The mid year break is scheduled to begin on 10 January 2026 and will continue until 18 January.

THE BIG STORY ABROAD-

A US tech market slump and the Epstein files are dominating headlines in the international press this morning. Claude-maker Anthropic received a push from Microsoft and Nvidia, but US tech stocks still took quite a hit.

Anthropic will receive up to USD 15 bn in new funding from Microsoft and Nvidia, the latest wager on the fast-growing Claude developer. Microsoft will invest up to USD 5 bn while Nvidia will invest up to USD 10 bn, part of a broader funding round expected to value Anthropic at more than USD 300–350 bn. The AI startup has agreed in return to purchase USD 30 bn in Azure computing capacity, which will run on Nvidia’s newest AI chips. (Reuters | The Financial Times | Semafor | CNBC)

Markets are not buying it: US tech stocks fell sharply on Tuesday as mounting concerns over “frothy” AI valuations triggered a broad sell-off across global markets. The tech-heavy Nasdaq Composite closed 1.2% lower, with major AI-linked names leading the declines as Nvidia slid 2.8%, while Microsoft shed 2.7% and Amazon declined 4.4%. The pullback comes ahead of Nvidia’s earnings on Wednesday, a report investors see as a critical gauge of whether the AI boom can justify the sector’s soaring valuations. (The Financial Times | Semafor | CNBC | Reuters)

ALSO- The US Congress voted overwhelmingly on Tuesday to release the Justice Department’s files on the disgraced financier Jeffrey Epstein, a move enabled by Trump’s abrupt reversal after months of resisting the measure. The legislation is now awaiting Trump’s signature. (Reuters | CNN | The Financial Times | New York Times | Bloomberg)

ALSO WORTH READING-

Meta does not hold an illegal social media monopoly, a US federal judge ruled. (The Financial Times | The New York Times | CNBC | Reuters)

Cloudflare restored internet services on Tuesday after an oversized security configuration file crashed parts of its network and clocked access to platforms like X and ChatGPT. (Reuters | Semafor | CNBC)

DATA POINTS-

Startups in the King Abdullah University of Science and Technology (Kaust) portfolio have collectively raised over USD 1 bn in investments to date, Kaust said in a press release on Sunday. The 428 startups, whose total valuation currently stands at USD 2 bn, have generated USD 925 mn in revenue and provided 6.7k jobs. Last year alone, Kaust’s companies secured a combined USD 150 mn in investments, reflecting a strong investor sentiment in the Kingdom’s innovation ecosystem.

Have you checked out EnterpriseAM MENA <> India? It’s our newest briefing tracking one of the world’s most dynamic trade, investment, and cultural corridors. Every Monday, Wednesday, and Friday, we’ll track the transactions, trends, and market moves connecting these two dynamic regions. The flow of capital, talent, and trade between MENA and the Indian subcontinent is one of the most important economic stories in the world — and we’re telling it as only we can.

If you’re investing, trading, or scouting for your next big move in MENA or India, subscribe to EnterpriseAM MENA <> India by tapping here to get the strategic intelligence you need.

***You’re reading EnterpriseAM Saudi, your essential daily roundup of business, economics, and must-read news about Saudi, 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 Tas’heel and Hassan Allam Properties.

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 industry, and the MENA <> India corridor?

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

THIS IS A TEMPLATE. DO NOT EDIT. COPY AND PASTE BELOW TO USE.

Crown Prince, Trump expand US-Saudi defense, minerals, AI partnership in Washington

Crown Prince Mohammed Bin Salman landed yesterday in Washington, DC, to a lavish reception by President Donald Trump that saw red carpets, a flyover of F-35 jets, and a Fall-themed dinner at the White House’s East Room attended by the world’s richest man Elon Musk, and the world’s richest footballer Cristiano Ronaldo.

A flurry of agreements were signed during the visit, including a strategic defense agreement approving the long-awaited sale of F-35 jets, and a formal pathway to a nuclear agreement. The Crown Prince also upped the Kingdom’s investment pledge in the US to a whopping USD 1 tn investment commitment, and expressed interest in joining the Abraham Accords conditional on a two-state solution for Palestine.

DEFENSE-

The Crown Prince and Trump signed the US-Saudi Strategic Defense Agreement, facilitating access for US defense firms into Saudi Arabia and securing “burden-sharing” funds from the Kingdom. Trump also approved a defense sale package that included future deliveries of the long-anticipated F-35 jets, alongside an agreement to sell nearly 300 US tanks. Financial details were not disclosed, but F-35s are not cheap: the package will surely amount to multi USD bns.

Top of the line: Trump said the US will not be downgrading F-35s heading to Saudi, a departure from the so-called “ qualitative military edge ” policy to ensure Israel’s military superiority in the region. “They’d like you to get planes of reduced caliber. I don’t think that makes you too happy,” he told Bin Salman, adding that both Saudi and Israel are both great allies and “at a level where they should get top of the line.”

Not quite cleared for takeoff: The sale could still face resistance despite Trump’s green light. Pentagon officials are reportedly raising concerns that Riyadh’s military ties with China could compromise sensitive US stealth technology, which could create conditions similar to those that blocked th advanced aircraft’s sales to Turkey in 2019 and to the UAE under the Biden administration, Bloomberg reports.

Elevating the partnership: The President later said at the East Room dinner that Saudi Arabia has been designated as a major non-Nato ally (MNNA) of the US. Countries designated as a MNNA — including Qatar, Egypt and Israel — get financing and priority access for military equipment and can participate in joint research efforts.

.

UPPING INVESTMENTS-

The Crown Prince and Trump finalized agreements building on the USD 600 bn commitment secured back during Trump’s Riyadh visit in May, according to a White House fact sheet. Bin Salman also vowed during the press conference to increase Saudi’s commitments to USD 1 tn, citing the Kingdom’s “huge demand” for computing power and desire to acquire US-made chips.

More details on Saudi’s investments are to be unveiled at the US-Saudi investment forum, scheduled for later today at the John F. Kennedy Center for the Performing Arts and expected to include senior executives from major oil, tech, pharma, defense, VC, and investment management firms. The guest list will reportedly include execs from Chevron, Qualcomm, Cisco, General Dynamics, Pfizer, IBM, Google, Salesforce, Andreessen Horowitz, Halliburton, Adobe, State Street, and Parsons, along with our own Aramco, unnamed sources told Reuters.

ENERGY, MINERALS & AI-

A step closer to a nuclear agreement: The two sides signed a joint declaration formalizing negotiations on civil nuclear energy cooperation, ensuring Saudi gives priority to US companies in nuclear partnerships, as well as maintaining compliance with the nonproliferation treaty.

A critical minerals framework was also signed, where the US and Saudi will cooperate on securing supply chains for uranium, metals, permanent magnets, and other critical minerals through “two-way investment” in the sector, according to the US Treasury department.

ALSO- An MoU on AI will give the Kingdom “access to world-leading American systems while protecting US technology from foreign influence.” No details are available as of yet, but unnamed sources told Bloomberg that the PIF’s AI champion Humain already got the greenlight for deliveries of advanced AI chips.

INTERNATIONAL AFFAIRS-

Bin Salman talked about normalization prospects with Israel, saying that Saudi is interested in joining the Abraham Accords but wants first to secure a clear path towards the two-state solution. Both the Crown Prince and Trump signaled some progress was made on the talks without providing further details or a timeline.

Saudi could sit on Gaza’s transitional board: Trump later said he wants the Crown Prince to join the Board of Peace that was approved by the UN Security Council on Monday to oversee reconstruction and economic recovery of Gaza. “You’ll accept, I hope,” Trump said to Bin Salman at the East Room dinner.

The US press also zeroed in on remarks on the Khashoggi affair by Bin Salman and Trump, as well as the former’s remarks about Bin Laden “using the Saudi people” to sabotage US-Saudi relations by orchestrating the 11 September attacks.

Day 2 of Cityscape keeps momentum

The second day of Cityscape Global unfolded with a series of agreements and MoUs, maintaining the event’s momentum. The total value of agreements revealed across the first two days has now reached USD 43 bn (SAR 161 bn), according to a press release.

#1- Al Bilad Capital announced USD 4.4 bn (SAR 16.5 bn) in new funds: The firm launched the Makkah Vision Fund for a 686k sqm site near Masjid al-Haram, and the Al Bilad Opportunities Fund II for a 229k sqm mixed-use site in the Qurtubah district.

#2- The Eastern Province Municipality signed 14 investment and development agreements valued at over SAR 5 bn, SPA reported. The agreements include:

A partnership with Princess Najoud bint Hathloul and the Economic Families Association for the development of incubators for street vendors;
An investment contract with stc’s center3 to establish digital data centers and support smart city infrastructure;
Investment agreements for entertainment and tourism projects at Half Moon Beach, including amusement parks with a Kuwaiti investor, a 100-brand outlet mall, children’s parks, food and beverage platforms, art and fashion academies, multi-use activities, and a mini golf course;
Development agreements with Gulf investors for Tourist resorts in Al Khafji Governorate;
An MoU with the Gulf Laboratory for Technical Services to study its inspection and accreditation mechanisms;
An MoU with the Saudi Company for Comprehensive Technical and Security Control to implement digital management of construction waste;
An agreement between Fikra Recycling for Environmental Services and GIB Capital to finance renewable energy projects;
An investment agreement for the management and operation of the Coral Island Resort on Dammam Corniche, supporting tourism, entertainment, and luxury accommodation.

#3- SAB Invest launches USD 764 mn (SAR 2.9 bn) real estate funds: The firm announced two major mixed-use development funds: an office-led high-rise landmark on King Fahd Road in the Sahafa district, and a multi-purpose mid-rise community along the Eastern Ring Road in the Hamra district.

#4- PIF-owned Saudi Real Estate Refinance Company (SRC) sealed a SAR 10 bn agreement to purchase two mortgage portfolios from AlRajhi Bank, SRC said on LinkedIn. The agreement aims to provide continuous market liquidity, support securitization activities, and boost the developments of the secondary market for real estate financing in the Kingdom.

#5- Retal awarded SAR 5.2 bn housing development contract: The National Housing Company awarded Retal Urban Development a SAR 5.2 bn contract to develop 4.8k housing units on a 1 mn sqm area in Al Fursan’s third district in Riyadh, according to a disclosure to Tadawul. The contract includes designing, financing, constructing, and delivering villas and apartments, as well as developing internal infrastructure and operating the site’s commercial components.

#6- Alupco and AAG ink USD 500 industrial agreement: Aluminium Products Company (ALUPCO) and Asia Aluminium Group (AAG) announced a Saudi-Chinese agreement to establish aluminum plants in the Kingdom to supply major real estate projects.

#7- Osus Al Aqar unveiled up to SAR 3 bn investments across two new residential projects in Riyadh — Osus Makan in Al Malqa district and Osus Prime in Al Qirawan district, Argaam reported. The two projects will include luxury residential units and spaces for commercial and hotel units. The company also kicked off interest letters registration for Osus Residences, a fully furnished residential tower under the Curio Collection by Hilton brand.

#8- ROSHN Group is launching a USD 293 mn new large-scale development within Sedra community, as well as land sales in Alarous with sub-developers.

#9- Jazan Municipality inked a SAR 200 mn contract with Alawaly Real Estate to build Jazan Aqua City on a 113k-sqm plot in Jizan Waterfront, featuring water rides, a maritime museum, and related amenities, state news agency SPA reported.

#10- Property developer Arabian Dyar launched the second phase of Dyar Al Haram within Makkah’s Masar Destination, according to a press release. Located just 550 meters from the Grand Mosque, the project comprises about 4k ready-to-own luxurious residential units.

ALSO- New real estate financing platform in the works, courtesy of gov’t collaboration with LCM Partners, Aleqtisadiah reports, citing a statement from the fund. As part of the agreement, LCM Partners will also join the National Housing Services Company as a shareholder through newly issued shares.

PIF + HKMA to launch a USD 1 bn fund for helping Hong Kong, Greater Bay firms expand into Saudi

PIF + HKMA to help companies enter the Saudi market: The Public Investment Fund (PIF) and the Hong Kong Monetary Authority (HKMA) are setting up a USD 1 bn fund to support the expansion of Hong Kong and Greater Bay Area companies into the Kingdom, Hong Kong Financial Secretary Paul Chan said in a conference yesterday. The initiative is designed to support the development of non-oil economic sectors in the Kingdom.

The new fund builds on earlier cooperation agreements: Chan’s visit to Saudi Arabia last month saw him explore deeper collaboration in investment, innovation, and technology development with PIF Governor Yasir Al Rumayyan, according to a press release. The trip saw the signing of five agreements between the Hong Kong delegation and Saudi partners. Three tech firms from Hong Kong and mainland China also sealed partnerships with local enterprises in AI, robotics, and smart sensing.

Hong Kong-based players are already stepping up activity in Saudi: Private equity firms HongShan Capital Group and Boyu Capital took part in Tabby’s USD 4.5 bn secondary share sale. Meanwhile, Hong Kong-listed oil and gas pipes manufacturer Dalipal Holdings will establish a pipeline manufacturing hub in Dammam amid plans to raise USD 600 mn through a private offering to finance the first phase of its Saudi expansion.

What’s next? A major Saudi development company will hold a roadshow in Hong Kong next month to attract strategic partners and professional service providers to support upcoming infrastructure projects, Chan revealed.

Saudi Arabia’s labor market skill gap costs as much as 4.2% of annual GDP

Ineffective career and education transitions are costing Saudi Arabia as much as SAR 196 bn — or 4.2% of GDP — each year, according to a Pearson’s report on the cost of slow labor market transitions in the Kingdom. When calculating just for Saudi nationals and excluding expats, that figure narrows to 1.34% of GDP (SAR 62 bn) annually.

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

Automation-related disruption is responsible for half of the Saudi national-specific losses (SAR 31.64 bn), as 23% of Saudi national-held jobs are at high risk of automation. This figure is of particular concern as sectors including construction, production, transport, and maintenance are the most vulnerable to automation disruption. It is those same sectors that are critical to the 2030 diversification strategy, Pearson notes.

The economy also loses some SAR 16.94 bn because of the long lead time for new market entrants to land a job. It takes an average of 40 weeks for high school and university graduates to secure a job, according to the report. The difficulty stems from a mismatch between education and skill levels, with only 30% of engineering and technology graduates considered qualified for the job market, the report highlights. This problem is compounded by the high demand in the job market for these skills due to their importance in Vision 2030.

The education-to-work transition friction is also highest among women graduates. Despite accounting for 61% of total graduates, only 29% of women — compared to 58% of men — are employed within the first year of graduation.

When looking at job-to-job transitions, displaced Saudi workers face an average of 11.3 months to jump back into the workforce, with almost 40% taking more than a year to rejoin the workforce. Losses from transitioning from one job to another cost SAR 13.59 bn, but most importantly, “these long spells of joblessness represent not only lost earnings but also erosion of skills,” the report states.

Slower transitions pose a challenge for the youth-driven economy, Pearson says. Unemployment among the 15-24 age group stood at a high rate of 14.8% in 1Q in 2025, marking a pressing concern for this demographic, which is projected to grow from 2.69 mn individuals in 2025 to 3.22 mn by 2030.

How can we beat the friction? Pearson suggests five strategies to address these challenges. These include:

Effectively targeting skills development through cooperation between employers and educators to better align education with the job market’s needs;
Entry to the job market can be expedited by making it easier to gain early work experience through internships, apprenticeships, and mentorships;
The gap between theory and practice can be better bridged through early exposure to workplace experience;
Formal and vocational training programs can be developed to reflect skills and competencies in demand in high-growth sectors;
The government is encouraged to invest in labor market data platforms that support the visibility of job openings and skills requirements, which should reduce labor market supply and demand mismatches.

Egypt’s Brassbell Hospitality Group sets foot in Saudi with SAR 120 mn Fanaya Hotel in Jeddah

Egypt-based Brassbell Hospitality Group launched Fanaya Hotel in Jeddah with a SAR 120 mn investment, the group’s Vice President of Expansion and Growth Adham Elbedewy told EnterpriseAM. The move marks the group’s first venture outside of Egypt and its first in the Kingdom, according to an emailed statement (pdf). The launch coincides with the tourism investments hype the Kingdom is seeing this quarter, Elbedewy told us.

About the project: The project features 51 suites, including 39 executive suites, three signature suites, eight superior suites, and an exclusive royal suite. It also features The Collectors’ Lounge, The Atelier, The Supper Club, The Courtyard Café, and The Rooftop. Fanaya targets culturally-engaged visitors and young and mid-career professionals, Elbedewy said.

In the pipeline: Brassbell is positioning the Kingdom as its primary expansion focus over the next five years, Elbedewy told us. Following its debut in Jeddah, the group is in advanced discussions to open two new Fanaya properties in Riyadh. It is also developing 145 units across two serviced apartment complexes in the capital, slated to open next year, Elbedewy said. In addition, Brassbell is in early negotiations for a wellness resort in Taif, and it is mulling developing a hybrid lifestyle hotel in the Eastern Province.

Brassbell is “extremely optimistic” about the Kingdom’s hospitality sector, as tourism is on track for “sustained double-digit annual growth,” Elbedewy told us, citing major events and increased air connectivity driven by Vision 2030. Brassbell expects that demand will outpace supply, especially in Jeddah and Riyadh. As the market evolves into a global powerhouse, growth will likely be dominated by lifestyle and boutique hotels catering to experiential travel, he added.

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

Takadao raises USD 3.1 mn in seed round, follow-on funding

Riyadh-based Web3 platform Takadao secured USD 3.1 mn from a seed round and follow-on funding, Wamda reported yesterday. The funds were raised across a USD 1.5 mn seed round, and additional funding from Draper Associates of Silicon Valley. Several global investors took part in the round, including Hasan VC (Malaysia), Syla Invest (France), Wahed Ventures (UK), Ice Blue Fund (Japan), Istari Ventures (US), and Adverse (Saudi Arabia).

Where will the money go? The fresh funds will help Takado expand its Web3 financial ecosystem and scale adoption in global markets. It will also support the growth of The LifeDAO, a community-owned platform that uses a decentralized wallet to access funds and returns, along with its newly launched LifeCard, a prepaid Visa card that lets users spend stablecoins like liquid money.

About Takadao: Founded in 2022 by Sharene Lee (LinkedIn) and Morrad Irsane (LinkedIn), Takadao offers bankless financial alternatives and provides members with a DeFi wallet, life protection fund, investment pools, and financial education. Its newest product, The LifeCard, adds features such as profit-sharing from card fees, automatic round-up savings for micro-investing, and 0% interest microloans.

Dinar Investment faces CMA complaint over alleged mishandling of sukuk subscription funds

DISPUTE WATCH-

Leen Alkhair Trading filed a complaint against Dinar Investment to the Capital Market Authority citing the “unilateral and sudden cancellation” of Leen’s sukuk issuance, it said in a disclosure to Tadawul yesterday. Leen alleges Dinar failed to transfer funds raised during the subscription period ending on 7 December.

IN CONTEXT- Last October, Leen tapped Dinar to be the sole arranger for its SAR 10 mn murabaha sukuk offering, with a par value of SAR 1k, which is also the minimum subscription amount. The program offered various maturity terms, ranging from 3 to 30 months.

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

CAPITAL MARKETS-

Merrill Lynch KSA secured the Saudi Exchange’s approval to carry out market-making activities on Gulf Union Alahlia Cooperative Ins., Americana Restaurants, and Rabigh Refining and Petrochemical, effective today, according to a Tadawul disclosure yesterday.

Markets see widespread sell-offs amid growing AI bubble fears

Markets continued to see sell-offs for the fourth consecutive session due to investors’ anxiety over soaring AI companies’ valuations and the instability of the artificial intelligence boom. Sundar Pichai, CEO of Google parent company Alphabet, also warned in an interview with the BBC that “no company is going to be immune” to the impacts of the AI bubble bursting. He described the current AI investment wave as “extraordinary” while acknowledging that it has an “element of irrationality.”

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

US markets saw steep declines: The S&P 500 closed down 0.8%, while the Dow Jones fell 1.1%, and the tech-heavy Nasdaq shed 1.2% during yesterday’s trade. Also driving the fall is speculation over US interest rates not getting cut as “quickly as hoped,” The Guardian reports, citing commentary from policymakers. Nervousness over tech giant Nvidia’s earnings and worry around massive debt over AI infrastructure are also adding to market volatility.

Could Nvidia’s earnings offer some comfort? US chipmaker Nvidia will release its quarterly results later today. Investors will also be on the lookout for September’s US jobs report, which will see the light tomorrow after government-shutdown related delays.

Behind the numbers: “A selloff in the world’s largest technology companies drove stocks to their longest slide since August, underscoring the US market’s narrow reliance on a handful of growth giants. Wall Street has grown increasingly concerned that AI isn’t yet generating enough revenue or profits to justify the massive spending on infrastructure,” Bloomberg wrote.

MARKETS THIS MORNING-

Asian markets are mixed in early trading this morning as investors assess the fallout from the sell-off. Japan’s Nikkei, the Shanghai Composite, and the Hang Seng are all in the green, looking at moderate gains, while the Kospi is down 0.2%.

TASI	11,099	+0.4% (YTD: -7.8%)
MSCI Tadawul 30	1,447	+0.5% (YTD: -4.1%)
NomuC	23,935	+0.1% (YTD: -24.0%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.5% repo	4.0% reverse repo
EGX30	40,501	-1.4% (YTD: +36.2%)
ADX	9,882	-0.3% (YTD: +4.9%)
DFM	5,899	-1.0% (YTD: +14.3%)
S&P 500	6,617	-0.8% (YTD: +12.5%)
FTSE 100	9,552	-1.3% (YTD: +16.9%)
Euro Stoxx 50	5,535	-1.9% (YTD: +13.1%)
Brent crude	USD 64.56	-0.5%
Natural gas (Nymex)	USD 4.38	+0.2%
Gold	USD 4,061	-0.2%
BTC	USD 92,590	+0.4% (YTD: -1.1%)
Sukuk/bond market index	915.85	-0.3% (YTD: +1.5%)
S&P MENA Bond & Sukuk	152.03	+0.1% (YTD: +8.6%)
VIX (Fear gauge)	24.69	+10.3% (YTD: +42.3%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.4% yesterday on turnover of SAR 4.3 bn. The index is down 7.8% YTD.

In the green: Retal (+10.0%), 2P (+5.0%) and Alhammadi (+4.9%).

In the red: Taprco (-10.0%), Acig (-5.3%) and Saico (-4.9%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.1% yesterday on turnover of SAR 19.5 mn. The index is down 24.0% YTD.

In the green: Horizon Food (+8.5%), Wajd Life (+5.9%) and Axelerated Solutions (+5.7%).

In the red: DRC (-6.0%), Molan (-5.5%) and Ratio (-5.2%).

CORPORATE ACTIONS-

Almunajem Foods’ board approved the distribution of SAR 60 mn in dividends for 2H 2025 at SAR 1 apiece, starting 16 December, it said in a Tadawul disclosure yesterday.

WSM for Information Technology received the Capital Market Authority’s approval to boost its capital by SAR 7.2 mn to SAR 28.6 mn by issuing one bonus share for every three existing ones, the authority said in a statement yesterday. WSM will finance the increase by tapping its retained earnings, raising the company’s shares to 2.9 mn.

CALENDAR

NOVEMBER

17-20 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre, Riyadh.

18 November (Tuesday): Crown Prince Mohammed bin Salman’s visit to Washington.

19-22 November (Wednesday-Saturday): PIF Saudi International Golf Championship, Riyadh Gold Club.

20 November (Thursday): Deadline for title deed registration for 14.6k properties across 21 neighborhoods in Qassim.

20-29 November (Thursday-Saturday): Public school holiday.

22 November (Saturday): The Ring IV, ANB arena, Riyadh.

23-26 November (Sunday-Wednesday): Saudi Food Exhibition and Conference, Riyadh.

23 November-26 February 2026:Title deed registration for 142.8k properties across 104 neighborhoods in Hail.

23-27 November (Sunday-Thursday): Global Industry Summit by United Nations Industrial Development Organization, Riyadh.

23-27 November (Sunday-Thursday): The UNIDO General Conference, King Abdulaziz International Conference Center, Riyadh.

23 November – 10 December (Sunday- Wednesday): The Absher Tuwaiq Hakathon (remote).

24-26 November (Monday-Wednesday): The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh.

24-26 November (Monday-Wednesday): Metropolis Madinah Conference for civilizational capitals, King Salman International Convention Centre (KSICC), Al Madinah.

25-26 November (Tuesday-Wednesday): The Global Sustainability Expo, The Arena Riyadh Venue, Ghirnatah.

25-29 November (Tuesday-Saturday): General Aviation Airshow 2025 – Sand & Fun, Riyadh.

27 November (Thursday): Deadline for title deed registration for 8.7k properties in Jeddah’s Al Sheraa and Al Amwaj neighborhoods.

27-30 November (Thursday-Sunday): World Rally Championship Saudi Arabia 2025, Jeddah.

27-29 November (Thursday-Saturday): UIM F1H2O World Championship, Jeddah.

30 November (Sunday): Zatca 21st E-invoicing integration wave deadline.

30 November-1 December (Sunday-Monday): FII Priority Asia Summit, Tokyo.

DECEMBER

1-3 December (Monday-Wednesday): Industrial Transformation Saudi Arabia, Riyadh International Convention & Exhibition Center.

1-4 December (Monday-Thursday): International Conference on Nuclear and Radiological Emergencies, Riyadh.

1-4 December (Monday-Thursday): 61st ISOCARP World Planning Congress, Riyadh.

2-4 December (Tuesday-Thursday): Black Hat MEA, Riyadh Exhibition and Convention Center, Malham.

3-5 December (Wednesday-Friday): Beyond Profit Forum, Ritz-Carlton Hotel, Riyadh.

7-9 December (Sunday-Tuesday): CoMotion Global 2025, Riyadh.

8-9 December (Monday-Tuesday): Digital Acceleration and Transformation Expo (DATE), JW Marriott hotel, Riyadh.

8-9 December (Monday-Tuesday): Climate Action and Renewable Energy (CARE), JW Marriott hotel, Riyadh.

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

11 December (Thursday): Deadline for title deed registration for 214.2k properties across Riyadh and the Eastern Province.

11 December (Thursday): Public school holiday.

11-13 December (Thursday – Saturday): The Absher Tuwaiq Hakathon (in-person).

15-17 December (Monday-Wednesday): Host Arabia, Riyadh Front Exhibition and Conference Center.

15-17 December (Monday-Wednesday): Saudi HORECA, Riyadh Front Exhibition and Conference Center.

16-17 December (Tuesday-Wednesday): Global Airports Forum (GAF) 2025, Riyadh International Convention and Exhibition Center, Riyadh.

19 December (Friday): The 2025 Saudi Toyota Championship wraps up.

25 December (Thursday): Title title deed registration deadline for 64.4k properties across neighborhoods in Madinah, Makkah, Riyadh, and the Eastern Province.

31 December (Wednesday): Zatca 22nd E-invoicing integration wave deadline.

31 December (Wednesday): Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca) deadline.

December: Made in Saudi exhibition, Riyadh International Convention and Exhibition Center, Riyadh

2026

JANUARY

1 January (Thursday): Title deed registration deadline for 54k properties in 77 neighborhoods across Riyadh, Makkah, and the Eastern Province.

1 January (Thursday): Electronic salary transfer via the Musaned platform becomes mandatory for all domestic workers in the Kingdom.

10-18 January (Saturday-Sunday): Public school mid-year break.

13-15 January (Tuesday-Thursday): Future Minerals Forum, King Abdul Aziz International Conference Center, Riyadh.

15 January (Thursday): Title deed registration deadline for 31.7k properties in 14 neighborhoods in the Eastern Province.

15 January (Thursday): Title deed registration deadline for about 157.3k properties in 78 neighborhoods across the Eastern Province.

15 January (Thursday): Title deed registration deadline for about 41.7k properties across 115 neighborhoods in Riyadh, Qassim, and the Eastern Province.

18-21 January (Sunday-Wednesday): Saudi Hospital Design and Build Expo, Riyadh.

26-27 January (Monday-Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, Riyadh.

26-27 (Monday-Tuesday): GPRC Summit, Riyadh.

26-28 (Monday-Wednesday): Saudi Franchise Expo (SFE), Riyadh Exhibition and Convention Centre, Riyadh.

26-28 (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

26-28 (Monday-Wednesday): IFAT Saudi Arabia, Riyadh Front Exhibition & Conference Center, Riyadh,

27-28 (Tuesday-Wednesday): SkyMove Air Cargo MENA, Riyadh.

28 (Wednesday): Data Center Nation Riyadh, Riyadh.

28-30 (Wednesday-Friday): Jeddah International Travel and Tourism Exhibition (JTTX), Jeddah.

FEBRUARY

2-4 (Monday-Wednesday): Saudi Media Forum, Riyadh.

2-4 (Monday-Wednesday): Women Leaders Summit and Awards KSA, Riyadh.

2-13 (Monday-Friday): 2026 Asian Road Cycling Championship and Paralympic Cycling, Qassim.

3-4 (Tuesday-Wednesday): RLC Global Forum Annual Meeting, Riyadh.

5-7 February (Thursday-Saturday): LIV Golf 2026 season opener, Riyadh Golf Club, Riyadh.

8-12 February (Sunday-Thursday): World Defense Show, Riyadh International Convention and Exhibition Center, Riyadh.

9-10 February (Monday-Tuesday): Global Games Show Riyadh 2026, Malf Hall, Riyadh.

9-14 February (Monday-Saturday): Asian Racing Conference, Crowne Plaza Riyadh RDC Hotel & Convention Centre, Riyadh.

11 (Wednesday) Digital Transformation Summit Saudi Arabia (DTS), Riyadh.

11-14 (Wednesday-Saturday): JeddaDerm, Jeddah.

13-14 February (Friday-Saturday): Jeddah E-Prix 2026, Jeddah.

MARCH

21 March (Saturday): Fanatics Flag Football Classic, Kingdom Arena, Riyadh.

31 March (Tuesday): Zatca’s 23rd E-invoicing integration wave deadline.

APRIL

6 April (Monday): Procurement and Supply Chain Futures Forum, Al Faisaliah Hotel, Riyadh.

6-7 April (Monday-Tuesday): Real Estate Supply Chain Forum, Al Faisaliah Hotel, Riyadh.

12-15 April (Sunday-Wednesday): Saudi Print & Pack, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Riyadh International Industry Week, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Saudi Plastics & Petrochem, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Saudi Smart Logistics, Riyadh International Convention & Exhibition Center.

13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center – Malham.

20-22 April (Monday-Wednesday): The Future Hospitality Summit, Mandarin Oriental Al Faisaliah Al Faisaliah Hotel, Riyadh.

20-22 April (Monday-Wednesday): Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center.

21 April (Tuesday): GC Summit Saudi Arabia 2026, Saudi Arabia.

27-29 April (Monday-Wednesday): Aluminum Arabia, The Arena, Riyadh.

MAY

3-5 May (Sunday-Tuesday): Sports Investment Forum (SIF), Riyadh.

SEPTEMBER

15-17 September (Tuesday-Thursday) The Global AI Summit, King Abdulaziz International Convention Center, Riyadh.

OCTOBER

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

Signposted to happen sometime in 2026:

November: UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.
November: The Esports Nations Cup, Riyadh.
The Intervision international music competition will take place in Saudi Arabia.
6 July-23 August (Monday-Sunday): Esports World Cup, Riyadh.

Signposted to happen sometime in 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.

Signposted to happen sometime in 2Q 2027:

The Hail Region Water Networks Project is expected to be completed.

Sections

About

Privacy & Support

Get EnterpriseAM daily