Higher diesel prices for manufacturers + Unemployment dips in 3Q

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Riyadh Metro Line 3 is coming online today

Good morning, wonderful people, and welcome to 2025. Our first issue in the new year is jam-packed, leading with a fresh price hike on diesel from Aramco, following a similar move last January. We also have the latest unemployment data from Gastat, as well as updates on two big M&A transactions. Let’s jump right in.

HAPPENING TODAY-

Riyadh Metro’s Line 3 (Al Madinah Al Munawwarah) — the final link in the network — is set to welcome its first passengers in just a few hours, bringing the total number of operating metro lines to six. This milestone follows a successful pilot earlier in December, which introduced three of the network’s six lines, followed by the launch of Lines 2 and 5 mid-month.

ICMYI- Riyadh Metro will offer rides at no charge in neighborhoods that are within a 5 km radius from metro stations starting next month. The “First and Last Mile” service will be without charge for the first six months and half-priced for the following six months. A tender will be issued to select transport companies to operate the service.

WEATHER- Riyadh is bracing for a wet week as the National Center of Meteorology forecasts moderate to heavy rain across much of the Kingdom through to Wednesday. The showers will bring in strong winds, stirring up dust and dirt with chances of hail, high coastal waves, and even flash floods in some areas.

Tabuk and Madinah are in for a soaking today and tomorrow, while Al Jouf and the Northern Borders will see rain starting tonight until Tuesday.

HAPPENING TOMORROW-

The EA Sports FC Italian Supercup final brings a Milan derby to Al Awwal Park in Riyadh tomorrow, as AC Milan faces Inter Milan. AC Milan secured the spot with a 2-1 victory over Juventus, according to a press release (pdf). This marks the fifth time the tournament is hosted in Saudi Arabia, with Inter Milan vying for a third consecutive title in the Derby della Madonnina.

PSAs-

The first phase of implementing unified charging ports for mobile phones (USB Type-C ports) and electronic devices commenced with the start of the new year, after new regulations were rolled out in October.

What to expect: Starting this month, phase 1 of the initiative mandates the use of USB Type-C for devices such as phones, tablets, digital cameras, e-readers, portable game consoles, headphones, earphones, portable speakers, keyboards, computer mice, navigation systems, and wireless routers. Phase 2 will extend this requirement to laptops beginning 1 April, 2026.

CAPITAL MARKETS-

Tadawul nixes Azm Saudi + Obeikan Glass main market requests: The Saudi Exchange rejected the separate bids of Azm Saudi Telecom and Obeikan Glass to move to the main market from Tadawul’s parallel market Nomu, after they both failed to meet the required transition conditions, according to two separate statements here and here.

WATCH THIS SPACE-

#1- US State Department clears USD 78.5 mn torpedo sale to Saudi: The US State Department approved a potential foreign military sale to Saudi Arabia, valued at USD 78.5 mn, for 20 lightweight torpedoes and related support, according to a statement. The sale includes spare parts, training, support equipment, and logistics services, with RTX Integrated Defense Systems as the principal contractor.

#2- Vision Bank kicks off experimental phase: Vision Bank, formerly known as Saudi Digital Bank, lined up the Saudi Central Bank’s (Sama) no-objection to roll out its pilot phase, it said in a post on X. The digital bank is now offering a limited range of services including murabaha deposits, bank cards, transfers, and bill payments to a select customer base.

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THE BIG STORY ABROAD-

As is often the case, Donald Trump is once again topping much of the international press this morning, with news out that the president-elect will be sentenced on 10 January on charges that he allegedly paid hush money to a [redacted] star. However, the incoming decision — pencilled in for just ten days before he is set to take his place at the Oval Office — will not lead to Trump facing jail time, the judge overseeing the case signalled. (Financial Times | Reuters)

Our corner of the world is also continuing to rank highly on the world’s digital front pages amid Israel’s unrelenting assault on Gaza, with at least 70 killed since Friday by strikes on the besieged enclave. The escalation comes as another round of ceasefire talks mediated by Qatari and Egyptian officials take place in Qatar. (Reuters)

Despite talk of restraint, the Biden administration provisionally approved a USD 8 bn weapons sale to Israel, which includes precision-guided missiles, artillery shells, and air-to-air missiles. (Wall Street Journal | Financial Times)

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 Real Estate Future Forum kicks off on 27 January at the Four Seasons, Riyadh.

#3- LEAP 2025 will take place between 9-12 February at the Riyadh Exhibition & Convention Center in Malham. The tech event will bring together over 1.8k global tech brands, 1k experts and some 680 startups. LEAP 2025 will feature over 300 hours of content across 17 tracks, covering AI, fintech, edtech, smart cities, and more. Co-located with LEAP is DeepFest, a major AI-focused event bringing thought leaders and innovators under one roof.

#4- The eight-day Big 5 Construct Saudi will take place from 15-18 February and 24-27 February at the Riyadh Front Exhibition & Conference Center. The Kingdom’s largest construction event will feature over 2k exhibitors from more than 60 countries, showcasing innovations across the sector. The event is expected to attract over 75k participants.

Aramco hikes diesel prices for manufacturers by 44%

Saudi Aramco raised domestic diesel prices by 44% to SAR 1.66 per liter for 2025, following a similar 53% hike to SAR 1.15 per liter last year, according to Mees. This price adjustment is part of Aramco's annual review under its pricing mechanism, established in 2022. The company notified Tadawul-listed industrial firms of the price changes, which took effect on 1 January.

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Companies are going to feel the impact: The higher diesel prices will translate into higher production and operating costs for several petrochemicals, cement, and ceramics players. This includes Saudi Cement, which expects to see its production costs rising 8%, Al Jouf Cement (+10% in its total costs), and Saudi Kayan Petrochemicals (1.3% rise in its cost of sales). Consumer goods players are also expected to see higher production costs, with Al Marai expecting its production costs to rise by SAR 200 mn, in addition to other indirect cost increases from its supply chain. Meanwhile, the Natural Gas Distribution Company says it expects its annual revenues to increase on the back of the diesel price changes.

The price change is one of a small handful of increases that Aramco has enacted for domestic consumers since 2016, EFG Hermes Research noted previously. Price increases were typically limited to SAR 0.11-0.12 per liter — a trend the oil giant snapped in its last price hike last January.

Market reax: Nearly all Tadawul-listed cement and petrochemical companies saw their shares fall at the end of the trading day on Thursday, including Saudi Cement (-2.8%), Arabian Cement (-5.8%), Yamama Cement (-5.3%), Sabic (-0.6%), Chemanol (-3.0%), and Sipchem (-2.4%).

Overall unemployment declined to 3.7% y-o-y in 3Q + Local unemployment fell to 7.8%

The overall unemployment rate for locals and expats declined 0.5 percentage points y-o-y to 3.7% in 3Q 2024, according to a Gastat’s latest labor market report (pdf). Local unemployment fell 1 percentage point y-o-y to 7.8%, while expat unemployment was down 0.1 percentage points, settling at 1.4%.

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MEANWHILE- The employment-to-poulation ratio of Saudi citizens rose to 47.4% in 3Q 2024, up from 46.3% in the same quarter of the previous year.

Fewer women are unemployed: The unemployment rate for women citizens fell 3 percentage points y-o-y to 13.6% during the quarter, while unemployment for men remained unchanged from last year at 4.7%.

How are people looking for jobs? The most common job search strategy, used by 87.7% of job seekers, is reaching out to friends or family for leads. This is followed by submitting direct applications to employers (75.0%) and utilizing the national employment platform, Jadarat (71.2%).

More insights: Some 60.9% of unemployed Saudi women and 44% of unemployed Saudi men are willing to commute for at least one hour to work. The majority of unemployed Saudi women (77.5%) and unemployed Saudi men (91.1%) are willing to work eight hours or more per day. Also, some 95.6% of unemployed Saudis are open to accepting job offers in the private sector.

Stc transfers its entire stake in Tawal to PIF

Stc has finalized the sale of its 51% stake in TelecomsTowers Company(better known asTawal) to its majority owner the Public Investment Fund (PIF), according to a disclosure to Tadawul. PIF-owned Golden Lattice Investment (Glic) is also being transferred to a newly-established entity, as part of a merger that has been in the works since 2022.

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REFRESHER- The PIF and stc have been working to consolidate Tawal and Glic under a new entity that is going to own and manage a portfolio of around 30k towers across five countries. The new entity will have annual revenues in the order of USD 1.3 bn.

Who will own what? The PIF will hold a majority stake of 54%, while stc will hold 43%, along with minority shareholders holding a combined 3%. Stc will also have to inject SAR 533 mn into the new entity for its shareholding amount to settle at 43%, bringing the capital of the new entity at SAR 1.2 bn, according to our calculations.

Talking valuation: Tawal is valued at SAR 22 bn, and Glic is valued at SAR 3 bn — both valuations are excluding the companies’ cashflow and debt obligations.

Savola Foods exits Iran in SAR 705 mn play

Savola Foods — a wholly-owned subsidiary of Savola Group — is set to sell its entire business in Iran, valued at SAR 705 mn, to an unnamed foreign investor under a binding sale and purchase agreement, according to a filing to Tadawul. The sale includes Savola’s Iranian businesses in edible oils, seafood, baked goods and confectionery products.

Savola Foods operates household brand names including Afia, Elmalkea, Italiano, and Rawabi, among eight others.

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IN CONTEXT- The divestment reflects Savola’s ongoing exit from non-core markets, following similar sales in Morocco and Iraq in 2023. The group says it’s prioritizing growth-oriented investments in high-potential food markets as part of its broader strategy.

Net gains + use of proceeds: “The difference between the transaction value and the book value of the operations in Iran, net of transaction costs, will result in an estimated gain amounting to SAR 2.8 mn.” Savola Group will use the proceeds to strengthen its financial footing.

Accounting adjustments for the parent company: The transaction will result in SAR 1.3 bn from foreign currency translation reserve and SAR 251 mn from minority interest transactions being moved from equity to the income statement. This will lead to a loss of SAR 1.6 bn on the transaction as of 30 November 2024.

IN OTHER M&A NEWS-

#1- Tadawul-listed BinDawood Holding secured a non-objection decision for its SAR 444mntakeover of Zahrat Al Rawdah Pharma from the General Authority for Competition, it said in a filing to Tadawul. The acquisition will allow BinDawood to include pharma products at its retail outlets, expanding its footprint in the health and wellness sector. Zahrat Al Rawdah will retain its brand identity post-acquisition.

#2- Tadawul-listed Aslak eyes stake in Al Raeda: United Wire Factories (Aslak) inked a non-binding MoU to acquire a 40% stake in Al Raeda Industrial Investment through a share swap, it said in a disclosure to Tadawul. The move will see Al Raeda’s shareholders receive newly-issued shares in Aslak, according to an exchange ratio that will be decided on following the completion of valuation and due diligence processes. Aslak has six months to finalize the terms and lock in the transaction. No financial advisor has been appointed yet.

FinMin arranges USD 2.5 bn revolving credit facility to support fiscal needs

FinMin secures USD 2.5 bn revolving credit facility: The National Debt Management Center (NDMC) arranged a USD 2.5 bn (SAR 9.4 bn) shariah-compliant revolving credit facility to support the state budget, it said in a statement. The three-year facility was secured with the participation of three unnamed regional and international financial institutions. The story got ink in Reuters.

IN CONTEXT- Finance Minister Mohammed Al Jadaan said in November that the Kingdom will tap local and global debt markets in 2025 to finance the budget gap. This will involve new bond and sukuk issuances for domestic and external markets in both local and foreign denominations, as well as alternative financing, he explained.

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The budget deficit is expected to come in at 2.3% of GDP (SAR 101 bn) this fiscal year and to “continue at similar levels over the medium term” as the government continues to invest heavily in the diversification agenda, according to the budget statement for FY 2025.

The art of deficits: Deficits of SAR 100-140 bn can be beneficial, the minister explained, as long as the returns on public spending exceed the cost of borrowing. This rationale anchors the government’s attitude towards fiscal expansion in 2025, 2026, and 2027, the minister explained. At the same time the government is mindful that fiscal expansion is only sustainable if debt is accessible at reasonable cost. Moreover, deficits should not overload the domestic economy and cause inflation. “This balance is very important,” Al Jadaan said.

ICYMI- The Finance Ministry raised SAR 11.6 bn from fixed-income investors in its December sukuk issuance, up from SAR 3.4 bn in November.

Alshehili sets price range for Nomu IPO at SAR 76-80 apiece

Heavy equipment manufacturer Alshehili is guiding on a price range of SAR 76-80 per share for its Nomu IPO, according to a filing to the exchange. The company is taking a 20% stake to market in an offering that could see it raise up to SAR 40 mn in proceeds, according to EnterpriseAM Saudi calculations. At the top of the range, the transaction would give Alshehili a market cap of SAR 200 mn at listing.

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Qualified investors will be able to place orders starting today until Monday, 13 January, with a minimum subscription limit of 10 shares and a maximum of 125k shares each. Final allocations are set for Thursday, 16 January.

REFRESHER- Net proceeds from the sale will go towards funding Alshehili’s expansion and marketing efforts, as well as supporting the company’s working capital, including automating cooler box production and equipment procurement. The company’s sole substantial shareholder — Hala Fahd Nasser Alshehili — will see her ownership diluted to 58.7% from 73.4%.

ADVISORS- Arbah Capital is quarterbacking the transaction as lead manager, while Forsa Capital is acting as financial advisor. Receiving agents include Alinma Investment, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, ANB Capital, Alistithmar Capital, Albilad Capital, AlJazira Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, Derayah Financial.

TGA rolls out new regs in a bid to protect the rights of railway users

Railway operators aren’t required to compensate passengers for canceling a trip due to force majeure events, according to new regulations for railway passengers’ rights and operators’ obligations (pdf). The new regulations aim to protect the rights of railway transport users. The regulations will be up for public consultation on Istitlaa until Thursday, 16 January.

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Key highlights include:

Passengers are entitled to a full refund and extra compensation equivalent to 50% of the ticket price if the operator cancels a trip within 24-48 hours before departure due to late notification. The same rule applies if the operator decides not to complete a trip due to any reasons (excluding force majeure events);
Cancellations less than 24 hours before departure trigger a 100% refund and extra compensation equivalent to 100% of the ticket price. The same rule applies on delays of over four hours;
No compensation is provided if the delay was disclosed before ticket purchase;
Lost checked bags will be compensated at SAR 4k per item.

Riyadh-based foodtech Calo closes USD 25 mn series B funding + eyes Tadawul IPO

Saudi Arabia-headquartered meal subscription company Calo raised USD 25 mn in an oversubscribed series B funding round led by Emirati VC Nuwa Capital, according to a press release. The round saw participation from STV, Khwarizmi Ventures and some unnamed regional family offices. Calo has previously raised USD 26 mn from local and regional investors including Nama Ventures, 500 startups, and Vision Ventures.

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Use proceeds: Calo will use the funding to grow its footprint in the GCC’s meal-subscription market, with a focus on AI-driven tech and expanding its product range. A portion of the funds will also be used to support its expansion into retail.

Coming up next: IPO, M&A, funding milestones: Calo is gearing up for an “accelerated expansion phase,” with a focus on its planned IPO in the Kingdom by 2027. The company is also laying the groundwork for global expansion through mergers and acquisitions, with its first acquisition set for 1Q. Calo also plans to raise an additional USD 25 mn in 1Q 2025, driven by strong investor demand.

About Calo: The foodtech company also operates in the UAE, Bahrain, Qatar and Kuwait. It claims to have delivered over 10 mn meals in 2024, and currently operates five revenue-generating retail brick and mortar stores.

ALSO FROM STARTUP LAND-

SVC backs USD 150 mn Global Ventures III Fund: SME Bank subsidiary Saudi Venture Capital (SVC) invested an undisclosed amount in the USD 150 mn Global Ventures III Fund, it said in a statement. The Global Ventures-owned fund targets early-stage tech startups in sectors including supply chain, agriculture, enterprise cloud solutions, artificial intelligence, and deep tech. The fund operates in Saudi Arabia, and the wider MENA, and sub-Saharan Africa regions.

Riyadh Bank gears up to issue AT1 capital sukuk

DEBT WATCH-

#1- Riyad Bank is set to issue SAR-denominated additional tier 1 capital sukuk via private placement as part of its SAR 10 bn sukuk program, it said in a filing to Tadawul. The lender tapped Riyadh Capital as sole lead manager for the move, with the final terms and amount set to be determined based on market conditions. The move aims to support the lender’s capital base and support general banking purposes.

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#2- Al Jouf Agricultural Development lined up a SAR 160 mn one-year credit facility from Banque Saudi Fransi, it said in a disclosure to Tadawul. The shariah-compliant funding will be used to support the company’s working capital, refinance letters of credit and fuel the expansion of its french fries factory.

REAL ESTATE-

#1- Dallah Healthcare Company will acquire a 16.8K sqm land in Riyadh under a SAR 195.7 agreement with Wahet Al-Nakheel Real Estate Fund, according to a disclosure to Tadawul. This is part of the SAR 1.2 bn real estate fund that Dallah Healthcare, Dallah Real Estate, Tatweer, and asset management firm are launching. The current capital of the fund stands at SAR 613 mn split equally between all three partners. Aljazira Capital is acting as fund manager.

#2- First Avenue + AWJ plan new real estate fund to develop Le Perle assets: First Avenue for Real Estate Development signed a non-binding letter of intent with AWJ Real Estate Development and Investment Company to establish a real estate fund aimed at acquiring and developing commercial, office, and hospitality projects, according to a disclosure to Tadawul.The fund will target four assets — West La Perle, East La Perle, La Perle Residential Land, and La Perle Hotel Land. First Avenue would own between 40%-50% of the fund. There’s no publicly available information about the size of the fund.

#3- Retal Urban Development is expected to generate SAR 45 mn in investment income from the liquidation of the SAR 470 mn Business Park Fund — which it owns 18.8% of — to an unnamed buyer, it said in a filing to Tadawul. Proceeds from the sale will be used to fuel the company’s expansion.

FINANCIAL SERVICES -

#1- The Saudi Central Bank (Sama) licensed Hiberpay Ink Al-Soudia for IT Systems to offer e-wallet services, it said in a statement. This approval brings the total number of licensed payment service companies in the Kingdom to 27. The Kingdom aims to have 525 fintech companies by 2030, according to the national fintech strategy.

#2- Jarir Marketing inked a non-binding MoU with Cairo-based financial services company Aman Egypt to launch a new consumer finance JV, with an initial capital of SAR 100 mn it said in a disclosure to Tadawul. Jarir is set to own a 49% stake in the proposed entity, with Aman Egypt grabbing 41% and Hamad bin Abdullah bin Suleiman Al Manaya holding the remaining 10%.

MEDIA-

MBC FZ — a unit of MBC Group — landed a SAR 345 mn full-suite service order from ARA International Productions (AIP), under an existing master services agreement between the two, according to a filing to Tadawul. The one-year agreement will see MBC FZ provide AIP with operational and broadcasting support for radio stations, content production, technical services, marketing, brand development, and management for TV channels and digital platforms. MBC Group’s chairman holds a 50% stake in AIP’s parent company.

ALSO- MBC Media KSA — another MBC subsidiary — was contracted by event production company Sela to organize and operate the 2025 Joy Awards scheduled for Saturday, 18 January, in Riyadh, according to a separate filing to the exchange. Sela will cover the costs of the General Entertainment Authority’s flagship event. The value of the Agreement exceeds 10% of MBC Media’s total revenue for the year 2023.

LOGISTICS-

Saudi Ports Authority Mawani added a new shipping service, Milaha (MIX 2) to Dammam’s King Abdulaziz Port, it said in a news release. The new service has a handling capacity of 1.7k standard containers, and connects the port to Iraq and India.

ADVERTISING-

Arabian Contracting was awarded a 10-year SAR 694.3 road advertising contract from the Roads General Authority, according to a disclosure to Tadawul.

US equities end first week of trading in 2025 with a rally

After rocky start to the year, Wall Street closes out first week of 2025 on a high: US equities rallied on Friday to end the first week of the year on a positive note, with all three major indexes closing up. The Friday rally saw Wall Street changing directions after stocks fell the previous day — the first day of trading in 2025 — on the back of a soaring USD and Tesla shares falling 6.1% after reporting its first drop in annual deliveries, according to Reuters.

Snapping the streak: Friday’s market performance saw the S&P 500 closing up 1.3%, marking “its biggest rise since November 6 — the day after Donald Trump’s US election victory. The benchmark index’s gains on Friday also brought an end to five consecutive days of losses — the longest such streak since April,” the Financial Times notes. The Nasdaq also had a similar reversal of a losing streak, closing up 1.8% on Friday, buoyed by Nvidia and a rebound in Tesla shares.

This week will be a truer test of the durability of the rally, as the holiday season comes to a close and trading volumes — which have been thin over the past several days of trading — begin recovering to their usual levels, analysts say. Friday’s rebound came as the market “finally saw some buyers step in” following weakness at the end of the year “and a very oversold market,” but tomorrow’s trading session will mark “when a lot of the big money managers come back to the desk,” Carson Group’s chief market strategist tells Reuters. Analysts also expect more volatility in the coming weeks as Trump’s inauguration draws closer, with questions remaining “around what’s likely to come from the new administration,” the FT says.

TASI	12,103	+0.2% (YTD: +0.6%)
MSCI Tadawul 30	1,517	+0.2% (YTD: +0.5%)
NomuC	31,005	+0.04% (YTD: -1.5%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	30,060	+1.1% (YTD: +1.1%)
ADX	9323	+0.01% (YTD: -1.0%)
DFM	5127	-0.5% (YTD: -0.6%)
S&P 500	5942	+1.3% (YTD: +1.0%)
FTSE 100	8224	-0.4% (YTD: +0.6%)
Euro Stoxx 50	4871	-0.9% (YTD: -0.5%)
Brent crude	USD 76.51	+0.8%
Natural gas (Nymex)	USD 3.35	-8.4%
Gold	USD 2654.70	-0.5%
BTC	USD 98,350.40	+0.8% (YTD: +5.1%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.2% on Thursday on turnover of SAR 5.6 bn. The index is up 0.6% YTD.

In the green: TAPRCO (+9.9%), Zamil Industries (+8.0%) and Al Yamamah Steel (+5.4%).

In the red: ACC (-5.8%), Riyadh Cement (-5.5%) and YC (-5.3%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.04% on Thursday on turnover of SAR 43.5 mn. The index is down 1.5% YTD.

In the green: View (+22.6%), Mulkia (+8.3%) and Enma Alrawabi (+6.7%).

In the red: Almodawat (-8.1%), Naseej Tech (-7.1%) and AZM (-6.2%)

CALENDAR

JANUARY 2025

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

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

9 January (Thursday): Deadline to submit applications for the Saudi Capital Market Awards.

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.

18 January (Saturday): Deadline for companies to amend status under the New Companies Law.

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 and E-Commerce, Riyadh International Convention and Exhibition Center.

25 January (Saturday): The opening of the 2025 Islamic Arts Biennale, Western Hajj Terminal of King Abdulaziz International Airport, Jeddah

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.

31 January (Friday): Deadline for businesses to update their registered customs items.

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

FEBRUARY 2025

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

2 February (Sunday): Flyadeal launches direct flights to Karachi, Pakistan, departing from Riyadh and Jeddah twice a week.

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.

18 February (Tuesday): The Capital Markets Forum, KAFD Conference Centre, Riyadh.

19-20 February (Wednesday-Thursday): The Capital Markets Forum, The Four Seasons, Riyadh.

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.

24-25 February (Monday-Tuesday): The Riyadh International Humanitarian Forum, Riyadh.

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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