Lots of tourism talk

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: Canada is looking to rebuild ties, develop a “great relationship” with Saudi

Good morning, wonderful people. Tourism and all things maritime are the accidental stars of an otherwise quiet news morning — here’s hoping we close the week on a busier note tomorrow.

UP FIRST- Canada is looking to rebuild a “great relationship” with the Kingdom, ambassador Jean-Philippe Linteau said in an interview with Arab News ahead of an event tomorrow for Canada’s Flag Day. “We’re very excited to host our Flag Day celebration and it will be the first time in many, many years that Canada is inviting people to celebrate. … This is about Canada showing that it is back, it is present and it is putting an emphasis on rebuilding a great relationship with Saudi Arabia,” Linteau said.

Saudi restored diplomatic relations with Canada last spring. Economic, commercial, and security ties are warming, Linteau said, and a bilateral business council is back to work as Canadian firms look to do business here. Read the interview in full here.

WATCH THIS SPACE-

#1- The Riyadh Metro system will open this year, Maher Shira, director general of the Smart City Department for the Royal Commission of Riyadh, told Al Eqtisadiah on the sidelines of the Global Smart City Forum yesterday. The USD 22.5 bn metro system is part of a new smart transportation system which integrates “metro, buses, first and last-mile services,” he said.

Will it alleviate the capital city’s notorious gridlock? The Kingdom’s first urban metro will include six automated lines (60km of them underground) and become the largest public transport network in the region when it opers. Arriyadh Development Authority (ADA) is the owner and operator of the metro system. Developers include a consortium led by Bechtel, Almabani General Contractors, Consolidated Contractors Company, Siemens, and Aecom.

#2- Making it easier for global firms to open regional HQs here: The Commerce Ministry said it will provide online services for global firms seeking a regional HQ in the Kingdom, state news agency SPA reported yesterday. The services include issuing, amending and renewing commercial registers and the reserving of commercial name, among others. Companies will need to first pick up their license from the Investment Ministry before talking with the folks at commerce.

BACKGROUND- International companies need to declare Saudi their regional headquarters if they want to be eligible for government contracts. Crown Prince and Prime Minister Mohamed bin Salman wants to see the Kingdom attract USD 100 bn in FDI annually by 2030.

#3- We’ll know how Aramco did in 2023 when it releases its full-year results on Monday, 11 March, its website shows. Aramco’s net income declined 23.1% y-o-y in the third quarter of the year to USD 32.6 bn on the back of lower oil prices and sales volumes. Revenues were down 22% y-o-y during the quarter to USD 113.1 bn.

HAPPENING TODAY-

The Hotelier Saudi Awards take place today at Voco Riyadh. The awards will put the spotlight on back-of-the-house staff from chefs and engineers to laundry managers in 20 categories.

WEATHER- Expect mostly clear skies in Riyadh and Dammam with some sun in Jeddah.

Riyadh: 23°C daytime / 11°C overnight
Jeddah: 30°C daytime / 23°C overnight
Dammam: 22°C daytime / 15°C overnight

PSAs-

#1- There’s still time to have your say on the government’s proposed regulations on residential housing construction. The regulations will set requirements for building materials and other technical specs depending on where the structure is being built. You can go into further detail here. Submissions are due via Istitlaa by Wednesday, 21 February.

#2- Business owners can obtain municipal commercial licenses and their Salama safety license through the Saudi Business Center’s one-stop shop platform, according to state news agency SPA reports. The Salama license will set you back SAR 150; use the built-in fee calculator to sort out how much the commercial license will cost.

ALSO WORTH KNOWING-

#1- DATA POINT- International reserve assets dropped 4% y-o-y in January to SAR 1.65 tn, data by the Saudi Central Bank (Sama) showed yesterday. Foreign reserve assets inched up 0.5% m-o-m from December.

#2- Dutch Prime Minister Mark Rutte left Riyadh after a brief visit to the Kingdom. He met with Crown Prince and Prime Minister Mohammed bin Salman for talks on bolstering bilateral ties in various fields, SPA reported last night.

#3-The UAE has joined the planned multi-modal trade corridor linking us and others in the region with South Asia, Reuters reports. The announcement of the framework agreement was announced during a visit by Indian Prime Minister Narendra Modi to the Gulf country yesterday.

BACKGROUND- The corridor, which would connect India to Europe through the UAE, KSA, Jordan, and Israel, was initially announced on the sidelines of the G20 summit in September, according to the newswire. However, the crisis in Gaza has since stalled talks on the corridor.

THE BIG STORY ABROAD-

It’s crickets out there this morning, friends. Two US-centric stories dominate the business and mainstream press alike on both sides of the Atlantic:

Nato: Joe Biden is blasting Donald Trump for “un-American” suggestions that it would be just fine if Putin were to invade Nato allies that don’t pay their dues. A Trump national security advisor is doubling down on the idea: Don’t hit your defense spending target and Nato won’t ride to the rescue if you’re invaded, he said. The exclusive is leading the front page of Reuters.
US politics: The House of Representatives has impeached a cabinet member for the first time since 1876 in what pundits are calling a partisan vote. Don’t expect the Senate to follow suit.

AND- Saudi, Emirati and Qatari sovereign funds may be in talks to join the African Development Bank after Turkey became the first non-continental equity holder in the institution in December, Semafor reports.

FINALLY- It’s election day in Indonesia, where some 100 mn people are expected to cast ballots. Former defense minister Prabowo Subianto looks set to become the next president of Southeast Asia’s largest economy.

CIRCLE YOUR CALENDAR-

The Saudi Capital Market Forum will open on Monday, 19 February and wrap up on Tuesday. Held under the theme “Powering Growth,” the event will bring together members of the global financial landscape for discussions on the capital markets and investment strategies.

The Diriyah Contemporary Art Biennale will kick off in Diriyah on Tuesday, 20 February and wrap up on Friday, 24 May. Headlined After Rain, it will be led by German curator Ute Meta Bauer and features 92 artists from 43 countries. It will see several new commissions, including a joint project documenting “Saudi futurism” since the 1940s by local artist Ahmed Mater and Berlin-based photographer Armin Linke.

The Future Investment Initiative (FII) will host a two-day priority summit in Miami starting Thursday, 22 February.

The annual tech event LEAP will open in Riyadh on Monday, 4 March and continue through Thursday, 7 March. Dubbed the “Digital Davos”, the event will bring together the global tech industry for discussions on the future of technology.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

Algihaz eyes more exposure to region’s biggest shipyard

Energy, construction, and industry-focused player AlgihazHolding is restructuring its holding of Lamprell, the UAE-based offshore and onshore engineering, procurement, construction, and installation (EPCI) company, bringing its direct ownership to 90%, Aleqtisadiah reported yesterday.

Why it matters: Lamprell is part of the JV that is building the region’s biggest shipyard. The Aramco-sponsored joint venture is building International Maritime Industries (IMI) as the region’s largest full-service shipyard at Ras Al Khair on the coast of the Arabian Gulf. Lamprell holds a 20% stake alongside Aramco (40%), Bahri (20%), and Hyundai Heavy Industries (20%).

By the numbers: IMI will have the capacity to turn out four offshore rigs and up to 40 vessels per year.

Lamprell is also active in the renewables business, providing wind turbine foundations, HVAC/HVDC offshore jackets, and multi-purpose vessels, according to the company’s website.

Regional footprint: Lamprell owns fabrication facilities in Hamriyah and Khalid Port in Sharjah, and Jebel Ali in Dubai, according to its website. The company is also operating in Iraq through its subsidiary Maritime Industrial Services.

The transaction: Algihaz has acquired the entire stake of its subsidiary Thunderball Investments, which held a 73% stake in Lamprell. Algihaz became the sole owner of Thunderball after acquiring the entire 60% stake of Blofeld Investment Management in October 2023. (You have to love the James Bond references there, folks.)

The latest from the eternal game to shape the global oil market

It was an interesting day in oil markets yesterday as state oil giant Aramco continued its push into US oil trading, OPEC looked to looked to put its spin on recent remarks by Aramco and Energy Minister Prince Abdulaziz bin Salman on Aramco’s decision to scale back investment in hydrocarbons, and the IAE once more tries to shape oil market expectations for the year.

#1- Aramco capping its plans for oil capacity expansion ≠ drop in oil demand: Aramco’s decision to put on hold plans for oil capacity expansion shouldn’t be seen as a sign that demand for oil is falling off the face of the earth, OPEC Secretary General Haitham Al Ghais told Reuters yesterday. “First of all I want to be clear that I cannot comment on a Saudi decision … but this is in no way to be misconstrued as a view that demand is falling,” he said on the sidelines of the World Governments Summit in Dubai.

#2- A “comfortable” year for oil markets? Global oil markets are bound for a “comfortable” year as output meets demand and keeps prices moderate, International Energy Agency (IEA)’s Executive Fatih Birol told Bloomberg in an interview yesterday. Birol expects global oil consumption to rise by 1.2 to 1.3 mn barrels a day this year, a pace that he described as “significantly weaker” than last year amid a slower economic growth in China and others.

What the IEA chief is saying: “This growth is more than enough to meet the global oil demand,” he said. “So in the absence of major geopolitical turmoil or major extreme weather events, we would expect a rather comfortable oil market and moderate oil price evolution throughout 2024.”

#3- State oil giant Aramco has started trading a grade of US crude that helps set the global Brent benchmark, Reuters reported yesterday, citing S&P Global Commodity Insights — the oil-index publisher overseeing the process. The world’s largest oil company has been expanding its trading business in recent years, marking its first WTI trades in the Platts window after it sold a shipment of USD WTI Midland to Total yesterday and another US crude cargo last week.

Which Saudi companies are in — and which are out — as MSCI rebalances its GCC indexes

Global index builder Morgan Stanley Capital International (better known as MSCI) has published its latest rebalancing of key GCC indexes, adding a handful of Saudi issuers and removing others. The changes will take place after the market close on Thursday, 29 February.

Uh, Enterprise, what are MSCI indexes? MSCI indexes are widely used benchmarks for global equity markets and stakeholders including institutional investors, portfolio managers, and financial advisors. Investors use the indexes as gauges of market performance, as benchmarks against which to compare other stocks or markets, and to build index tracking funds, among other purposes.

MSCI GCC Countries Standard indexes (pdf): Ades Holding was added, while Petro Rabigh and Tasnee were removed.

MSCI GCC Countries Small Cap index(pdf): Lumi Rental, Saudi Re-ins., Saudi Steel Pipes and Tasnee were added. Saudi Fisheries and Riyadh Cables were removed.

MSCI GCC countries Domestic Small Cap Indexes(pdf): Saudi Steel Pipes, Tasnee, Lumi Rental, and Saudi Re-ins. were added, while Amlak Finance and Riyadh Cables were removed.

Why it matters: While getting added to the MSCI indexes attracts investor attention to the company’s stocks, being excluded isn’t necessarily a sign for concern given that it could be based on not meeting specific index criteria, including a change to the company’s structure, amongst other things.

Aiming to promote coastal tourism, the Saudi Red Sea Authority and Zatca have issued new regs on foreign tourist vessels

SaudiRed Sea Authority, Zatca out with guidelines for temporary entry of foreign tourist vessels: The Saudi Red Sea Authority and the Zakat, Tax, and Customs Authority (Zatca) have released a procedural guide (pdf) for the temporary entry of tourist marine vessels to marinas in the Kingdom.

Why it matters: The guide aims to provide clear guidelines for all customs procedures necessary for the temporary entry of vessels into the Kingdom’s waters, Zatca said. The goal is to make it easier for foreign-flagged vessels to tie up at berths regulated by the Saudi Red Sea Authority, it added.

It’s all about promoting coastal tourism: Last year, the Saudi Red Sea Authority issued seven new regulations to promote coastal tourism in the Kingdom. The regulations cover visiting private yachts, cruise ships, marina design and operations, martine tourism operators, and other segments of the industry.

Vessels allowed temporary entry include cruise ships, yachts, excursion boats, and diving vessels, all of which can stay in our waters for up to six months. The period can be extended on the condition that licensing and visa requirements for the extension are met. Non-motorized watercraft including kayaks, canoes, windsurfers, paddleboards and others will also be allowed temporary entry depending on the visa duration of the tourist or the license or permit granted to operators.

The rules don’t apply to cargo ships, warships, commercial vessels not operating in coastal tourism, water ferries, high-speed racing boats, research vessels, water taxis, and fishing boats, the procedural guide showed.

Documents needed to get the temporary entry permit: The documents include a customs declaration statement, an invoice indicating the country of origin, a shipping bill, and proof of payment of customs duties and taxes.

New Tourism Authority regs, putting CMA staff on boards get nods at weekly Saudi cabinet meeting

TheCabinet approved yesterday a regulatory framework for the Saudi Tourism Authority(STA, which itself isn’t a new agency), state news agency SPA reported yesterday. The statement gave no indication of what’s included in the regs. Tourism Minister and STA Chairman Ahmed Al Khateeb said the decision will help boost the authority’s capabilities to promote the Kingdom as a leading tourist destination regionally and abroad.

CMA can now be board members at gov’t entities: The Cabinet also gave the nod for an exemption that allows Capital Market Authority (CMA) members to assume board positions at governmental entities given that they do not exceed two members per board. The exemption also includes the market regulator’s head.

The Cabinet also approved a law providing protection for whistleblowers, witnesses and victims. It gives judicial authorities power to ensure the protection of whistleblowers and witnesses from threats including assault and revenge.

Also approved at the ministers meeting:

Mandating the Foreign Minister to discuss and sign a MoU with Singapore to form a strategic partnership council between the two countries;
Mandating the Environment, Water and Agriculture Minister to discuss and sign a MoU with the Arab Center for the Studies of Arid Zones and Dry Lands (Acsad) on environment, water and agriculture cooperation;
A cooperation memorandum in the fields of digitization and electronic manufacturing between the Communications and Information Technology Ministry and its Indian counterpart;
Mandating the Investment Minister to discuss and sign a MoU with Norway to promote direct investment;
Mandating the Transport and Logistics Minister to discuss and sign a MoU with the Latin American Civil Aviation Commission on technical cooperation in civil aviation.

Northern Region Cement offloads stake in Cement Experts to UAE-based AMP Global Trading

Northern Region Cement sells entire stake in Jordan’s Cement Experts: Tadawul-listed Northern Region Cement Company signed an agreement to offload its entire 50% stake in Jordan’s Cement Experts Co. for Development and Investment to UAE-based AMP Global Trading in a transaction valued at USD 55 mn, it said in a disclosure to Tadawul yesterday. The transaction also sees the UAE-based company grabbing a 51% stake owned by Cement Experts in a joint investment in Iraq’s cement plant Al Kubaisa.

Where the funds are going: Northern Region Cement said the sale comes as it seeks the entry into other “strategic partnerships” as part of its plan to expand investments in “promising markets''. It also aims to repay a part of its debt amid the current high financing cost rates.

ICYMI- The Northern Region Cement agreed in December to sell 49% of its investments in Iraq to Iraqi company Al Diyar Al Iraqia in a USD 44 mn transaction.

eXtra’s net profits took an 11.3% dip in 2023, revenues up 2.8%

United Electronics Company (eXtra)’s net income fell 11.3% y-o-y to SAR 390.5 mn in FY 2023, it said in a disclosure to Tadawul yesterday. Its revenues were up 2.8% y-o-y in the same period to SAR 6.2 bn. The company said the drop in net income came as it put on pause its expansion in Egypt and spent more on sales, marketing, and administrative expenses.

Revenues were up last year on the back of a slight uptick in retail sales and higher revenues from eXtra services and consumer finance.

Saudi Tourism Authority wants the attention of global industry insiders

No single story is driving the conversation on the Kingdom on this fine Wednesday. The Saudi Tourism Authority is kicking off a campaign designed to attract the attention of industry insiders around the world — and with it, lots of inbound interest — as it partners with industry staple Skift for a limited-run podcast.

Episode one is an interview with the STA’s Hazim Al-Hazmi, who leads the authority’s efforts on Europe and the Americas (listen, runtime: 18:09).

Saudi also figures heavily in two pieces that try to make sense of the Biden administration’s foreign policy toward the Arab world: Foreign Policy | Wall Street Journal.

MEANWHILE- BBC and Eurosport are picking up on the Kingdom’s first snooker masters, UPIis writing about the Dream of the Desert luxury train, and Voice of America has coverage of South African farmer’s hopes that they can soon export beef and lamb to the Kingdom.

Saudi Arabia is hosting two big billiards events. PLUS: News about suspensions, fines in the Green Falcons

#1- The big billiards are coming: The inaugural Saudi Arabia Snooker Masters confirmed for this summer will offer a prize pot of over GBP 2 mn, becoming the sport’s “fourth major,” the World Snooker Tour (WST) said yesterday in a statement. This makes the event the second richest on the tour schedule this year, it added.

What we know: The snooker masters in Riyadh will be open to 128 tour players, along with six local wild cards from the Saudi Arabian Billiard and Snooker Federation, it said. The event will run from 31 August to 7 September.

Not one, but two: The agreement between the local federation and the Sports Ministry with the WST and World Nineball Tour also sees the World Pool Championship hosted by Jeddah in June. The event, which runs from 3-8 June, will have a prize pool of USD 1 mn.

#2- Saudi Arabian Football Federation has sanctioned and fined 6 players of the national football team for reasons including non-compliance with the manager’s decisions, refusing to join or / and requesting delays of camps and friendly games, and sending offensive messages to the coaching staff ahead of the 2023 Asian Cup in Qatar, state news agency SPA reports.

Fines + suspensions: Al Nassr’s goalkeeper Nawaf Al Aqidi was fined SAR 300k with a 5-months suspension. Al Nassr’s Mohammed Maran, and Al Ettifaq’s Khalid Al Ghannam and Ali Hazazi were fined SAR 200k with a one month suspension. Al Nassr’s Sultan Al Ghannem was fined SAR 200k, While Al Hilal’s Salman Al Faraj was fined SAR 100k.

2P tapped to operate the Health Ministry’s call centers. PLUS: food, AI, green mobility

SERVICES-

IT service provider and consultantPerfect Presentation (2P) will be operating the Health Ministry’s call centers under a SAR 201 mn contract, the company said in a Tadawul filing yesterday. The multi-channel services would allow users to submit requests, inquiries, feedback and complaints to the Ministry. The contract — which is set to be signed on 1 April 2024 — will be valid for 24 months.

HOSPITALITY

Safari Holding will invest some EGP 1 bn (SAR 120 mn) in Egypt through 2030, Egyptian daily Al Borsa reports. The company has opened the first branch of its Chuck E. Cheese brand in Royal Park Mall in West Cairo and wants to open restaurants in Cairo, Alexandria, and Sharm El-Sheikh, CEO Ali Al Saqqari is quoted as saying.

DEBT-

#1-Keir International signed an agreement to raise its shariah-compliant facility with Saudi Awwal Bank to SAR 121 mn, up from SAR 99 mn, it said in a disclosure to Tadawul. The facility runs for 12 months, with proceeds earmarked for financing its projects and letters of credit as well as bank guarantees.

#2- View United Real Estate has secured a SAR 33.17 mn shariah-compliant facility from Bank Albilad, it said in a disclosure to Tadawul. The facility, which runs for 36 months, will cover 80% of a land purchase in Al Nargis district by the real estate developer.

FOOD-

First Mills kicked off operations at Mill C in its Jeddah plant, it said in a Tadawul disclosure yesterday. The move brings the new plant’s total production capacity to 550 tons per day (tpd), up from 300 tpd, bringing the maximum production capacity of the Jeddah plant to 2.5k tpd.

ARTIFICIAL INTELLIGENCE-

The Saudi Data and Artificial Intelligence Authority (SDAIA) inked a MoU with PIF-owned giga-project Diriyah Company to provide technical consultation on artificial intelligence, smart cities and data, state news agency SPA reported yesterday. The

SDAIA has also launched a new platform that will use AI to analyze visual pollution, state news agency SPA reported earlier this week. The platform is launching in partnership with the Municipal, Rural Affairs and Housing Ministry.

TRANSPORTATION-

#1-AlUla is getting eco-friendly buses: The Transport General Authority (TGA) signed an MoU with the Royal Commission for AlUla to supply environmentally-friendly buses to AlUla, according to a TGA statement yesterday. TGA didn’t say how many buses, at what cost, or on what timeline.

#2- The Transport and Logistics Ministry rolled out a system that will allow it to electronically log trucks on the road, capturing data on location and speed, Saudi Gazette reported yesterday, citing statements from Minister Saleh Al Jasser on the sidelines of the Global Smart City Forum.

Moving fast: The Transport General Authority (TGA) said last month that it would roll out a system to monitor road violations, expired operating cards and other regulatory breaches for trucks and cargo transport among others. The system comes into effect on 21 April.

Markets aren’t happy after hotter-than-expected US inflation report

US markets fell yesterday and Asian shares have followed suit this morning as traders digest a hot US inflation report that some fear made it even less likely that the Federal Reserve will cut interest rates in March.

Why rates interest matters to the stock market: Lower rates traditionally = more money seeking (hopefully) better returns in public equities. Traders also generally figure that lower rates = better fortunes ahead for many types of companies on the back of more consumer spending and cheaper borrowing for corporates.

What happened yesterday: The Dow, S&P and Nasdaq all dropped 1.4-1.9% yesterday after data showed consumer prices in the US had risen in January by the most in eight months. Observers had expected inflation to continue cooling, but it ticked up to 3.1% on an annual basis.

Where we stand right now: The Nikkei, Kospi, and Hong Kong’s Hang Seng are down in early trading; it’s Hong Kong’s first day of trading this week after the Luna New Year holiday, while Shanghai is still closed. US futures have firmed up but still point to a soft (but not outrageous) opening on Wall Street, and European equities look set to dip at the opening bell.

MEANWHILE- BTC hit the USD 50k mark for the first time in two years, rallying on the same rate-cut hopes that equities traders are eyeing — and on optimism that the US government’s approval of spot BTC exchange-traded funds last month could herald larger mainstream acceptance, Reuters reports. BTC was trading at around USD 49.7k as of midnight.

TASI	12,404.59	+0.9% (YTD: +3.7%)
MSCI Tadawul 30	1,604.88	+0.9% (YTD: +3.5%)
USD : SAR (SAMA)	3.75 Sell	3.75 Buy
Interest rates	6% repo	5.5% reverse repo
EGX30	28,604.54	+0.4% (YTD: +14.9%)
ADX	9,351.22	+0.3% (YTD: -2.4%)
DFM	4,219.31	+0.2% (YTD: +3.9%)
S&P 500	4,953.17	-1.4% (YTD: +3.8%)
FTSE 100	7,512.28	-0.8% (YTD: -2.9%)
Euro Stoxx 50	4,689.28	-1.2% (YTD: +3.7%)
Brent crude	82.50	+0.6%
Natural gas (Nymex)	1.69	-4.5%
Gold	2,007.20	-1.3%
BTC	49,552.03	-1% (YTD: +103.6%)

THE CLOSING BELL-

The TASI rose 0.8% yesterday on turnover of SAR 11.5 bn. The index is up 3.7% YTD.

In the green: Tanmiah (+9.9%), Salama (+8.7%) and Albaha (+7.1%).

In the red: LUMI (-5.1%), Atheeb Telecom (-4%) and Riyadh Cables (-3.9%).

CORPORATE ACTIONS-

#1- Riyad Bank’s BoD has proposed a dividend of SAR 0.75 per share to eligible shareholders for the second half of FY 2023, according to a disclosure to Tadawul yesterday. A distribution date will be determined following the approval of the general assembly, it added.

#2- Shareholders of Anaam Group will vote Monday, 4 March on a proposed 75% capital hike to SAR 551.3 mn, according to a disclosure to Tadawul yesterday. It earlier issued the prospectus (pdf) for the capital increase through a SAR 236.3 mn rights offering.

CALENDAR

FEBRUARY

18-21 February (Sunday-Wednesday): Restatex Riyadh Real Estate, Riyadh International Convention and Exhibition Center, Riyadh.

19 February (Monday): The Future of Business 2024 Forum, Eastern Chamber’s HQ, Dammam.

19-20 February (Monday-Tuesday): Saudi Capital Market Forum, King Abdullah Financial District, Riyadh.

19-21 February (Monday-Wednesday): Makkah Expo for Hotels and Restaurants, Makkah.

19-21 February (Monday-Wednesday): Future of Media Exhibition (FOMEX), Riyadh.

20 February-24 May (Tuesday-Friday): Diriyah Contemporary Art Biennale, Diriyah.

22 February (Thursday): Founding Day (Public Holiday)

26 February (Monday): OTSEC Summit, Dammam.

26-29 February (Monday-Thursday): Big 5 Construct Saudi, Riyadh.

26-29 February (Monday-Thursday): FM EXPO SAUD

26-29 February (Monday-Thursday): Stone and Service Saudi Arabia, Riyadh.

MARCH

2 March (Friday): end of Noor Riyadh show, segment “Refracted Identities, Shared Futures”, Riyadh.

4-6 March (Monday-Wednesday): International Conference on Sand and Dust Storms in the Arabian Peninsula, Riyadh.

4-7 March (Monday-Thursday): LEAP 2024, Riyadh.

8 March (Friday): Egyptian Cup final between Al Ahly and Al Zamalek, Riyadh

11 March (Monday): Flag Day (national holiday)

Wrapping up 23 March (Saturday): Desert X ALUla.

Signposted to happen sometime in March:

Ramadan

APRIL

14-21 April (Sunday-Monday): IMF and World Bank spring meetings, Washington, DC

28-29 April (Sunday-Monday): World Economic Forum’s Special Meeting, Riyadh.

29 April-1 May: Future Hospitality Summit at Al Faisaliah Hotel, Riyadh.

Signposted to happen sometime in April:

Eid Al-Fitr (national holiday)

MAY

19-21 May (Sunday-Tuesday): Saudi Energy Convention, Riyadh.

21-23 May (Tuesday-Thursday): The Saudi Food Show, Riyadh.

Signposted to happen sometime in May:

Global Trade Review (GTR): KSA
Saudi Energy Convention

JUNE

5 June (Wednesday): World Environment Day.

30 June (Sunday): ZATCA tax exemption scheme expires

Signposted to happen sometime in June:

Eid Al-Adha (national holiday)

AUGUST

12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh

SEPTEMBER

11-12 September (Wednesday-Thursday): The Saudi Event Show, Riyadh.

23 September (Monday): National Day (national holiday)

DECEMBER

2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.

Signposted to happen sometime in 2024:

The AFC Champions League Elite

Sections

About

Privacy & Support

Get EnterpriseAM daily