Inflation hit 2% in November + 12 new events are coming to town in 2025

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Saudi Arabia Railways is expanding its North Train freight line at a cost of SAR 5 bn

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SIGN OF THE TIMES? Shares of OQ Base Industries fell 3.6% in Oman yesterday, becoming the third regional IPO in a row to disappoint in their trading debut. Talabat’s USD 2 bn IPO saw its shares on the Dubai Financial Market dip 7% on opening day, while shares of retailer Lulu closed flat in their first day on the ADX.

Background: State-owned OQ sold a 49% stake in methanol producer OQ Base Industries in a transaction worth USD 489 mn before the start of trading, pricing the offering at the top of the range.

Advisors: Morgan Stanley, Bank Dhofar and Bank Muscat quarterbacked the offering.

PLUS- It’s interest rate week in the United States, with the Federal Reserve set to hold its final meeting of the year on Tuesday and Wednesday. The Bank of England the Bank of Japan will follow suit on Thursday.

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

MACRO WATCH- The week will also bring inflation data from the EU, Britain, Canada, and Germany.

HAPPENING TODAY-

It’s day two of the three-day International MICE Summit (IMS24) in Riyadh. Some 1k industry players from 70 countries are in town for the gathering.

Brace for more traffic: 12 additional events are coming to Saudi next year, per announcements yesterday, including:

Money20/20 (by Informa / Tahaluf);
FIBO (RX Global);
World Refining Technology Congress;
Advanced Therapies Week;
Fire Department and Emergency Services Conference (Clarion);
FSB Sports Show and International Hardware Show (Koelnmesse/DMG);
HOST (Fiera Milano);
ArabLab (Terrapin);
Saudi Muscle Show (Italian Exhibition Group);
World Industrial Materials and World Advanced Packaging, Printing & Plastics (Kaoun)

And new office openings: Event and trade fair organizers RX Global, Messe Munich, and Clarion Events will open offices in the Kingdom.

Fast fact: The domestic conferences and exhibitions sector grew 15% withs ome 17k business events held in 2023, acting CEO of the General Authority for Exhibitions and Conferences Hatem Al-Kahili told Aleqtisadiah.

MEANWHILE- The three-day International Forum for Saudi Reef kicks off today in the Intercontinental Al Ahsa, covering sustainable agriculture, rural entrepreneurship, and technology in farming.

AND- It’s day two of five for the UN’s Internet Governance Forum and the second and final day of the Supply Chain and Logistics Conference. Both take place in Riyadh.

WEATHER- Riyadh remains cool today with a crisp high of 18°C and a low of 3°C. Thunderstorms are expected in Jeddah, where the mercury will peak at 31°C before dipping to a low of 21°C. Meanwhile, Madinah will see a high of 24°C and a low of 8°C.

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WATCH THIS SPACE-

#1- SAR expands North Train line to boost mining: Saudi Arabia Railways (SAR) is expanding its North Train freight line at a cost of SAR 5 bn, Transport Minister Saleh Al Jasser announced at the Supply Chain and Logistics Conference. The expansion aims to strengthen the connection between the Kingdom’s rail networks and east coast ports to support its growing mining sector.

#2- A delegation representing 27 US-based women-led or owned SMEs is here to explore business opportunities, with agreements and partnerships expected in the coming weeks across sectors such as transportation, education, healthcare, and technology, US Ambassador Michael Ratney told Asharq Business in an interview (watch, runtime: 2:44).

DATA POINTS-

#1- The Kingdom is currently developing 18 logistics hubs at a total investment cost of SAR 10 bn, Arab News reports, citing unnamed senior officials. The Kingdom plans to increase the number of logistics zones to 59, up from 22 by 2030, Transport and Logistics Minister Saleh Al Jasser announced during the Supply Chain Conference.

#2- The domestic re-exports sector grew 23% y-o-y to SAR 61 bn in 2024, Argaam reports citing statements made by Industry and Mineral Resources Minister Bandar Alkhorayef

#3- The government spends a minimum of SAR 60 bn on the sports sector annually, the Investment Ministry official Basim Ibrahim told Asharq Business. This is in addition to a SAR 100 bn in investments earmarked for the 2034 World Cup, Ibrahim stated.

#4- Riyadh residents led electricity consumption in 2023: Residential electricity consumption in Riyadh made up 28% of the Kingdom’s total consumption last year, followed by Makkah (25.5) and the Eastern Province (16.7), according to a General Authority for Statistics (Gastat) report (pdf).

FROM THE RUMOR MILL-

First Heathrow Airport, now Newcastle Airport? The Public Investment Fund (PIF) is reportedly vying for a piece of Newcastle Airport as the UK looks to sell a 49% stake worth as much as GBP 1 bn, the Sunday Times reports, citing what it says are City sources. The stake on offer is owned by Infrabridge. JP Morgan is quarterbacking the sale. The fund also owns Newcastle United FC.

Last week, the fund completed the acquisition of a 15% stake in FGP TopCo, HeathrowAirport’s parent company from Spanish infrastructure player Ferrovial and other shareholders.

NOMU WATCH-

IPO WATCH- Shares of Balsm Alofoq will begin trading on Nomu today at SAR 60 apiece. Trading in the first three days will be capped at ±30%, after which the daily limit will be capped at ±10.

The Buraidah-based hospital operator is taking a 25% stake to Tadawul's parallel market. The final pricing sees the medical firm raising SAR 15 mn in proceeds, giving it a market cap of SAR 75 mn at listing.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager.

SPORTS-

From the world of tennis: The round-robin field at the men’s ATP Next Gen Finals in Jeddah has taken shape. World #20 Arthur Fils of France tops the Blue Group, while #41 Alex Michelsen (USA) is atop the Red Group.

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

Want to go deeper? Check out the Next Gen website.

PSAs-

#1- Landowners whose land was expropriated for Riyadh’s USD 50 bn New Murabbadowntown project can now claim compensation by visiting Tanmiah’s Riyadh branch or contacting them on this line 800 121 0020, state news agency SPA reports.

#2- Qassim Municipality issued a call for investors to develop and operate a 1 mn sqm dry port east of Buraidah, according to a post on X. The port is planned to be a key logistics hub, featuring customs clearance services and facilitating integrated transport.

#3- Managing minors’ funds just got easier: The General Commission for the Guardianship of Trust Funds for Minors (Wilayah) launched an online platform for managing minors' funds, it said in a post on X. The service streamlines access to over 100 services.

THE BIG STORY ABROAD-

It’s a mixed bag in the global press this morning, with major geopolitical shifts in the Middle East, a downbeat warning on the USD, and a once-in-a-century storm all getting ink.

Israel announced plans to expand its population in the Golan Heights, citing the strategic importance of the area. Israeli Prime Minister Benjamin Netanyahu reaffirmed Israel’s commitment to increase its presence in the occupied Golan Heights despite international backlash — “strengthening the Golan is strengthening the State of Israel, and it is especially important at this time. We will continue to hold onto it,” he said in a statement. (Reuters | BBC | Financial Times | Washington Post)

MEANWHILE - Cyclone Chido hits Mayotte: The most powerful storm to hit the French Indian Ocean area of Mayotte in over a century, Cyclone Chido hit the French archipelago last night leaving hundreds dead before heading to Mozambique. In Mayotte local officials fear the death toll could reach thousands as emergency crews struggle with destroyed infrastructure and disrupted communications. (Reuters | BBC | CNN | The Guardian | New York Times)

AND- German Chancellor Olaf Scholz is hoping to lose a confidence vote today in the Bundestag in a bid to trigger snap elections on 23 February.

IN BUSINESS NEWS- Trump policies will likely change how investors feel about the USD, Bloomberg writes, explaining that the greenback will likely face pressures next year on the back of president-elect Donald Trump’s policies and upcoming rate cuts. Major banks like Morgan Stanley and JPMorgan Chase see the USD peaking mid-2025 before falling.

CIRCLE YOUR CALENDAR-

#1- The two-day Impact Makers Forum (ImpaQ) is set to open its doors on 18 December, bringing together media influencers, industry experts, and digital content creators in Riyadh’s Mayadeen Hall.

#2- The two-day Forbes Middle East’s Women’s Summit will take place on 18 December at the Riyadh International Convention and Exhibition Center.

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

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

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

Saudi inflation hit a fresh 2024 high of 2.0% y-o-y in November

Inflation accelerated to 2% y-o-y in November, a slight uptick on October’s 1.9%reading as the gauge hit its highest level so far this year, according to figures from the General Authority for Statistics (Gastat) (pdf). On a monthly basis, prices inched up 0.3%, driven by an 0.9% increase in the combined housing, water, electricity, gas, and other fuels category. The story got ink from Reuters.

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IN CONTEXT- Inflation has been on an upward trajectory since August, largely driven by rising rental prices, following a two-month period where it held steady at 1.5% in June and July. Meanwhile, Moody’s predicts that Saudi inflation will settle at 1.6% this year, before accelerating to 1.9% in 2025 and 2% in 2026

The usual suspects: The price of home rentals — the heaviest-weighted component in the domestic consumer basket — rose 10.8% y-o-y last month, on the back of a 12.5% surge in apartment rental costs. This led to a 9.1% increase in the prices of housing, water, electricity, gas, and other fuels. Similarly, restaurant and hotel rates were up 1.5% during the period, driven by a 5.9% bump in hotel and furnished apartment fees.

Also feeling the pinch: The price of personal goods and service rose 2.7% y-o-y on the back of a 23.7% increase in the prices of jewelry, watches, and antiques. Education costs gained 1.1% y-o-y, led by a 1.8% rise in intermediate and secondary school fees, while food and beverage prices edged up 0.3% due to a 1.9% rise in meat and poultry.

Softening the blow: Furnishing and home appliance prices slipped 2.9% y-o-y, thanks to a 4.4% decrease in the prices of furniture, carpets, and flooring. At the same time, apparel and footwear prices shed 2.3% on the back of a 4.6% decline in ready-to-wear clothes while transportation costs eased 2.5%, driven by a 3.9% drop in car prices.

MEANWHILE- Producer prices rose 1.4% y-o-y in November, on the back of a 12% increase in the prices of refined petroleum products, according to Gastat’s wholesale price index (pdf). Meanwhile, November’s wholesale prices were up 0.2% m-o-m.

Dive deeper into Gastat’s full report on November’s average prices of goods and services here (pdf).

Saudi’s Zatca rolls out new system for direct vehicle imports by individuals

Individuals can now import vehicles directly through land and sea customs posts via the Zakat, Tax, and Customs Authority (Zatca) website, according to Zatca statements (here, and here). Here’s what you need to know:

All residents can now directly import one private car every three years, but cannot sell imported vehicles for three years from the date of import. Individuals are also prohibited from importing transport vehicles and buses.

The fine print: Forget about importing an antique car. The new rules don’t apply to vehicles more than 30 years old or to vehicles used on racing circuits.

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

When importing a vehicle, make sure it complies with the required energy efficiency standards. You can verify them here.

What can be imported? Cars, buses, and light-duty vehicles (3.5 tons and less) can be imported as long as their manufacturing year goes back a maximum of five years (excluding the current year). Heavy-duty trucks — including trailers and semi-trailers — with the same manufacturing year requirement, but calculated from the beginning of January of the year of manufacture.

Exception for importing non-energy efficient vehicles: Saudi citizens and premium residency holders can import light-duty vehicles that don’t meet energy efficiency requirements, but they will need to pay a financial compensation between 20-50% of the vehicle's value, at a minimum of SAR 20k. The fee can be estimated using the online calculator here.

Saudi Tadawul Group’s Wamid is now the sole owner of regional trading platform DirectFN

Wamid snaps up remaining stakes in DirectFN: Saudi Tadawul Group subsidiary Tadawul Advanced Solutions (Wamid) is now the full owner of Middle East and Africa trading platform Direct Financial Network (DirectFN) after acquiring the remaining 49% stake from National Two Ventures for SAR 220.5 mn, the outfit said in a disclosure to Tadawul. The step follows Wamid’s initial purchase of a 51% stake in DirectFN in May 2023 for SAR 133.95 mn.

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More on the acquisition: Tadawul wants to strengthen Wamid’s capabilities in regional capital markets and diversify its revenue streams. Saudi Tadawul Group will fund the purchase from its existing Sharia-compliant banking facilities. The transaction is still pending regulatory approval.

About DirectFN: Based in Riyadh, DirectFN is a financial technology provider with upwards of 20 years of experience in supplying trading platforms, market data solutions, analytics, custom financial tools, and other Fintech, FinReg, and capital market services. It operates from five offices in Saudi Arabia, the UAE, Kuwait, Sri Lanka, and Pakistan.

IN OTHER M&A NEWS

Marafiq has fully acquired Jeddah II Operation and Maintenance Company: The Power and Water Utility Company for Jubail and Yanbu (Marafiq) has finalized its acquisition of Veolia Middle East's 51% stake in Jeddah II O&M, becoming the sole owner of the Jeddah utility operator, it said in a disclosure to Tadawul. The acquisition is expected to add some SAR 75 mn in net income to Marafiq over 25 years, according to a separate disclosure. Details on the transaction’s value were not disclosed.

Mövenpick opens a new hotel in Wa’ad Al Shamal + Intelligent Oud to launch a new production line

HOSPITALITY-

Mövenpick Hotels and Resorts opened a new flagship hotel in Wa’ad Al Shamal, the first five-star hotel in the Northern Province, its parent company Accor said in a press release. Mövenpick Wa’ad Al Shamal features 245 rooms, including two presidential suites, and 18 meeting rooms. Saudi citizens make up over 55% of the hotel’s staff. No further information was disclosed.

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

STARTUP WATCH-

Dutch recycling startup Excess Materials Exchange (EME) raised USD 5 mn in a Series A round led by Saudi Aramco-backed VC fund Wa’ed Ventures, according to a statement. Information on the use of the proceeds, whether the investment is equity or debt based, or the identity of other investors partaking in the round was not disclosed.

The pitch: Established in 2017 by CEO Christian van Maaren (LinkedIn), EME is a B2B platform that serves as a marketplace for the reuse of excess materials. The startup leverages AI and blockchain technology to match buyers and sellers across different sectors and industries.

MANUFACTURING-

Nomu-listed fragrance manufacturer Intelligent Oud’s (iOud) will launch a new production line for cleaning and household consumer products as the company seeks to expand its product portfolio, according to a disclosure to Tadawul. The new line will be up and running in 1Q 2025, with an annual production capacity of 2.1k tons. The company estimates that the new line will boost revenues by SAR 8 mn next year.

FINTECH-

#1- Flyadeal customers can now book their flights using American Express Saudi Arabia Cards under a fresh agreement between the budget airline and the payment service, according to a press release. Personal, business, and corporate cards will be accepted by Flyadeal.

#2- Non-banking financial institutions (NBFIs) will have easier access to digital financial solutions under a new partnership between Mastercard and Riyad Bank’s tech arm Jeel, according to a press release. The partnership aims to facilitate NBFIs’ ability to roll out their own cards and launch fintech services.

RETAIL-

Black & Decker appliances are coming to the Kingdom: Al Hassan Ghazi Ibrahim Shaker Company (Shaker Group) is now the official distributor of Black & Decker appliances in the Kingdom, following an agreement it signed with the US firm, according to a press release. Details on the investment ticket were not disclosed.

BTC hits another record on news of a first-of-its-kind Texas BTC strategic reserve

BTC hit a fresh record of USD 105k yesterday after legislation was introduced in Texas to that would, if passed, set up a strategic reserve for the digital currency. The rules would allow the state to accept taxes, fees and donations in BTC that would be held for a minimum of five years, Reuters and CNBC report. Also yesterday, president-elect Donald Trump said yesterday that he would look into setting up a strategic BTC reserve at the federal level.

In context: The news comes following a rally that saw BTC climb over 50%, spurred on by Donald Trump’s election in the US, and saw it hit the USD 100k milestone for the first time this month.

It’s not the first time we’ve heard of this: In July 2024, Trump initially touted the idea of a strategic national BTC reserve, predicting the digital currency could surpass gold's market capitalization of USD 16 tn.

The US is not alone: The possibility of a US BTC reserve has gained traction following similar moves by Russia, where lawmakers are advocating for a national BTC reserve as an alternative to foreign currency reserves. Analysts predict that BTC’s price could reach as high as USD 800k by the end of next year, resulting in a market capitalization of approximately USD 15 tn, Forbes reports.

MARKETS THIS MORNING-

Asian markets are mixed after South Korea’s president was impeached over the weekend, and as investors await key interest rate decisions from the Bank of Japan and the People’s Bank of China. South Korea’s Kospi is hovering near the flatline, while Kosdaq is up nearly 0.7%. Japan’s Nikkei is also up, while China’s CSI 300 and Hong Kong’s Hang Seng are both down.

Over on Wall Street, futures are calm following a losing week for the S&P 500 and the Nasdaq.

TASI	12,060	-0.3% (YTD: +0.8%)
MSCI Tadawul 30	1,514	-0.4% (YTD: -2.4%)
NomuC	31,173	+0.2% (YTD: +27.1%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.25% repo	4.75% reverse repo
EGX30	30,776	-0.1% (YTD: +23.6%)
ADX	9,265	-0.1% (YTD: -3.3%)
DFM	4,830	+0.4% (YTD: +19%)
S&P 500	6,051	0% (YTD: 26.9%)
FTSE 100	8,300	-0.1% (YTD: +7.3%)
Euro Stoxx 50	4,968	+0.1% (YTD: +9.9%)
Brent crude	USD 74.49	+1.5%
Natural gas (Nymex)	USD 3.28	-5.1%
Gold	USD 2,648.2	-1.2%
BTC	USD 104,732	+1.5% (YTD: +149.0%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.3% yesterday on turnover of SAR 3.3 bn. The index is up 0.8% YTD.

In the green: Saudi Cable (+8.5%), Sumou (+6.6%) and Walaa (+3.5%).

In the red: Albaha (-6.1%), Riyadh Cables (-3.1%) and Al Marai (-2.3%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.2% yesterday on turnover of SAR 69.3 mn. The index is up 27.1% YTD.

In the green: Dar Al Markabah (+14.3%), Knowledge Tower (+14.2%) and Mufeed (+10.8%).

In the red: Osool and Bakheet (-9.8%), Horizon Food (-7.1%) and Obeikan Glass (-6%)

CORPORATE ACTIONS-

#1- Tadawul suspended trading on Savola Group’s shares to process a capital reduction, according to a statement by the exchange. The food giant’s stock price was reset to SAR 27.80, with outstanding orders cancelled, while trading on the stock is set to resume tomorrow. The pause on trading comes after Savola secured shareholder approval for a 73.5% capital reduction to SAR 3 bn via shares cancellation, according to a separate filing to Tadawul.

IN CONTEXT- As per its BoD’s recommendation, the move sees the firm cancelling some 834 mn shares and distributing its stake in Almarai to eligible shareholders. The reduction is intended to optimize Savola’s capital structure, as the capital is deemed excessive for current needs. Riyad Capital has been appointed as the financial advisor on the transaction.

#2- Walaa Cooperative Ins.’s rights issue was 90.5% covered, with investors booking SAR 423.2 mn worth of shares, according to a filing to Tadawul. Remaining shares will be up for grabs in a two-day institutional rump offering due to kick off today. Shares will be allocated to investors submitting the highest bids, while unsubscribed shares will be acquired by the offering’s underwriter at the SAR 11 offering price. The capital increase — which represents nearly 50% of current capital — is intended to support the company’s expansion plans and to maintain its credit rating

#3- Jeddah-born fast food chain Ghida Al Sultan sees ownership shuffle: Mefic Fund for Private Equity Opportunities — which holds a 24% stake in local fast food chain Ghida Al Sultan — has notified Ghida that it is planning to transfer its entire ownership in the firm to the personal portfolios of its investors, in proportion to their ownership stakes, according to a filing to Tadawul. The move will result in changes to Ghida Al Sultan’s list of major shareholders.

#4- Riyadh-based event planner Mufeed is distributing SAR 33 mn in dividends at SAR 5 per share for 1H 2024, the firm said in a disclosure to Tadawul. Distribution is set for Monday, 23 December.

CALENDAR

DECEMBER

15-17 December (Sunday-Tuesday): The International MICE Summit (IMS24), Riyadh.

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

16-18 December (Monday-Wednesday): The International Forum for Saudi Reef, Intercontinental Al Ahsa.

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

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

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

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

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

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

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

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

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

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

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

JANUARY 2025

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

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

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): Federal Open Market Committee meeting.

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

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

FEBRUARY 2025

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

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

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.

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

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

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

19 February (Wednesday): Derayah REIT dividend distribution.

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

22 February (Saturday): Founding Day.

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.

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

MAY 2025

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

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.

16-17 June (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

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

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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