Saudia orders 10 Airbus aircrafts for Flyadeal + Airbus buys SAR 2.5 bn worth of raw materials

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Saudi mostly spared from tariff turmoil, S&P says

Good morning, and happy THURSDAY. The big story in the last issue of the week comes from the aviation sector: Saudia is buying 10 additional aircrafts from Airbus for its budget arm Flyadeal. It’s not a one-way street, though, as Airbus is also sourcing titanium and other raw materials from the Kingdom.

ALSO- Saudi Arabia and India agreed to strengthen and expand cooperation across key sectors, following PM Modi’s short visit. Cooperation ranged from oil refineries in India to a bilateral investment agreement to be finalized “at the earlier.”

King Abdullah also landed in town: Crown Prince Mohammed bin Salman met with Jordan’s King Abdullah II in Jeddah yesterday to discuss bilateral ties and key regional issues. The two leaders focused on the worsening situation in Gaza and the West Bank, and stressed the need to support efforts to end the conflict.

BUT FIRST- Would you like to have lunch with us on Monday, 5 May? If so, hit reply to this email to let us know you’re like to be considered and tell us a little bit about yourself and what you do as a professional.

Wait, lunch? Yes, lunch. We’re inviting a small group of readers to join us to talk over where the economy and business climate stand now and where they’re heading through 2030. Expect good food, good company, and frank talk about what we are convinced is the most exciting business opportunity in the world.

Seating is strictly limited and the gathering is invitation-only. The gathering will take place under Chatham House rules. We’ll be in touch over the course of the next week with the folks we’re inviting to drop them the details.

HAPPENING TODAY-

It’s day four of the IMF and World Bank’sspring meetup, and the fallout from the IMF’s downbeat World Economic Outlook is rippling through global markets.

Saudi Arabia remains focused on long-term transformation: Finance Minister Mohammed bin Abdullah Al Jadaan, speaking at a US Chamber of Commerce roundtable, kept the spotlight on Vision 2030. “We are committed to delivering an effective regulatory framework that enhances transparency, an investor-friendly ecosystem, and alignment across ministries to foster partnerships.”

On the agenda today: IMF’s Middle East and Central Asia Department Director Jihad Azour will give a closed press briefing.

WEATHER- Sun will shine over Riyadh, winds will stir through Makkah, and storms may rumble across Madinah.

Riyadh: 38°C daytime / 25°C overnight sunny
Makkah: 43°C daytime / 27°C overnight windy
Madinah: 42°C daytime / 26°C overnight storm

PSAs-

#1- We can now weigh in on the draft guide for controls, procedures, and requirements related to personal data protection. The draft, open for consultation until Tuesday, 20 May, aims to support the sector’s growth, encouraging participation from both entities and individuals.

The scope: The draft outlines conditions related to personal data protection for the provision of consultancy services, technical and vocational training, technical services to support legal compliance, and conference organization within the field.

ALSO- You can provide feedback on appointing procedures for food facility officers working within the Kingdom, as part of an initiative to enhance compliance with quality and safety standards in the food sector. The draft consultation concludes on Thursday, 22 May.

#2- Businesses subject to zakat and income tax must file their returns for FY 2024 by Tuesday, 30 April, the authority said in a statement. Businesses subject to value-added-tax (VAT) whose annual supplies of goods and services exceeds SAR 40 mn must file March returns by 30 April, while businesses below the threshold must submit tax returns for the whole first quarter by the same deadline. Submissions can be made via Zatca’s website.

WATCH THIS SPACE-

Saudi mostly spared from tariff turmoil: Economic conditions in a number of GCC countries, including Saudi Arabia, the UAE, and Qatar, “remain in solid shape” despite the US administration’s trade policies, with S&P Global Market Research only slightly slowing down its growth outlook for the three countries across 2025 and 2026, S&P Global Market Research said in a press release.

The research unit cites falling oil prices as the main drawback spurred by the tariffs for the region’s oil producers, but mentions the UAE and Qatar as countries that it sees managing to withstand an extended period of lower oil prices.

Global growth could reach its lowest level since the 2008 financial crisis — excluding the pandemic: S&P lowered its annual global real GDP growth forecast for 2025 to 2.2%, from 2.5%. The forecast for next year’s real GDP growth was also lowered to 2.4%, down from 2.7%. “In both years, projected global growth would be the weakest since the global ﬁnancial crisis of 2008-2009, excluding the Covid-19 pandemic,” S&P wrote.

DATA POINT-

King Khalid tops airports’ performance in March: King Khalid International Airport recorded an 82% compliance rate in March 2025, leading international airports handling more than 15 mn passengers per year, according to a monthly report by the General Authority of Civil Aviation (Gaca). King Abdulaziz International Airport came in second place with a 73% compliance rate, down nearly 10% from 82% in February.

OIL WATCH-

Chinese importers are ramping up purchases of liquefied petroleum gas (LPG) from the Middle East — turning to Gulf suppliers including Saudi to replace tariff-hit US shipments, traders told Bloomberg.

Reshuffling the pack: At least seven US-loaded supertankers originally bound for China in May and June are now being diverted to India and Southeast Asia, while Middle Eastern volumes that were earmarked for those markets are now being redirected to Chinese end-users, said the traders.

The pivot may offer short-term relief, but it’s no silver bullet: Even with the added Middle East inflows, China still faces a monthly LPG shortfall of 470k tons, writes the business information service, citing a Citic Futures report. Chinese propane dehydrogenation (PDH) plants — already running at 65-70% utilization — could be forced to cut back as they burn through their feedstock inventories, according to the report. Unlike US shipments, which are predominantly propane, Middle Eastern supplies include butane — which is less ideal for Chinese plants.

ALSO- Kazakhstan will put down its own needs first when setting oil production levels, even if that means going against the Opec+ group, the country’s new Energy Minister Erlan Akkenzhenov told Reuters. He also noted that Kazakhstan can’t cut production at its major oil projects because they are run by foreign companies. The move could deepen tensions with oil cartel members who have previously expressed frustration over Kazakhstan’s rising output.

REFRESHER- Saudi Arabia, Russia, Algeria, Iraq, Kazakhstan, Kuwait, Oman, and the UAE have submitted to Opec updated plans last week to compensate for exceeding oil production quotas within the Opec+ agreement. Energy Minister Prince Abdulaziz bin Salman reportedly cautioned earlier this month that non-compliance with production targets will lead to further increments during a video conference, calling the unexpected May rise an “aperitif.”

SPORTS-

Neom Sports Club sealed promotion to the Saudi Pro League (SPL) with four games in hand, after a 3-0 result away from home mathematically confirmed a top flight berth for next season, the club said in a post on X. This also got ink from Reuters.

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THE BIG STORY ABROAD-

A further de-escalation in US President Donald Trump’s tariff war is taking up a lot of ink in the global business press, as are increased tensions between the US and Ukraine and India and Pakistan.

Trump is considering slashing China’s tariffs by more than half, the Wall Street Journal reported in an exclusive, and has decided to spare car parts from tariffs applied on China and on steel and aluminum, in a “de-stacking” of tariffs, the Financial Times reports.

Wall Street stocks continued to cheer the news, ending the day higher despite losing some of its earlier gains after US Treasury Secretary Scott Bessent said a de-escalation from the current “embargo” between US and China would need to be mutual. The USD also gained 0.9% against a basket of its major trading partners, but is still hovering near multi-year lows. (Financial Times | Reuters)

Trump is not in a de-escalatory mood with Ukraine, however — he took to his social media platform Truth to say that Ukrainian President Volodymyr Zelenskiy is harming peace negotiations by saying he will not recognize Crimea as a Russian territory, saying it’s “not even a point of discussion.” (FT | Reuters)

Over in India, an attack on Kashmir that killed 26 tourists — which has been blamed on a Pakistan-linked terror group — has resulted in India downgrading its ties with Pakistan in a fresh flare-up of tensions between the countries. (Reuters | Semafor | NYT | WaPo)

Saudia orders 10 Airbus aircrafts for Flyadeal + Airbus buys SAR 2.5 bn worth of raw materials

Saudia Group has placed a firm order for 10 Airbus A330 Neos for its budget arm flyadeal, putting the airline in the path to acquire its first wide-body jet purchase as it prepares to expand into long-haul routes and tap into the growing pilgrim traffic, according to a press release from Airbus.

The details: The estimated value of the order, including engines, exceeds USD 2 bn and includes options for 10 more aircraft, flyadeal CEO Steven Greenway told The National. Deliveries will begin in July 2027 and conclude by 2029.

Airbus over Boeing: Flyadeal selected the A330 Neo over Boeing’s 787-9 due to earlier delivery slots, lower pilot training requirements, and better seat economics, Greenway added. Talks with Rolls-Royce — the A330 Neo’s sole engine supplier — are ongoing, with local maintenance, repair, and overhaul agreements under negotiation.

ICYMI- Flynas had placed a USD 30 bn “landmark” order with Airbus for 30 wide-body A330neo and 130 narrow-body A320 aircraft back in July. The delivery schedule will run from 2027 to 2034.

Airbus got something from us as well: The agreement also includes SAR 2.5 bn (USD 666 mn) of raw material (USD 666 mn of metal) — primarily titanium — from Saudi Arabia, Bloomberg reported.

The rationale: Sanctions related to the Russia-Ukraine war have limited access to key raw materials like titanium, driving up costs for aircraft manufacturers such as Airbus and Boeing. The industry also faces potential additional pressure from tariffs introduced under former US President Donald Trump, Bloomberg added.

This has been in the works: Saudi Arabia partnered with Boeing and Airbus to gain approval for locally sourced aluminum and titanium for use in their aircraft, back in May 2024, aiming to expand local production of aircraft components and support global manufacturers in overcoming supply constraints. The Kingdom also introduced last November plans to expand its titanium manufacturing capacity to meet estimated global demand levels of from 15k to 250k tons.

Saudi Arabia and India to strengthen cooperation on oil, promote bilateral trade

Saudi Arabia and India agreed to strengthen and expand cooperation across key sectors, during the India–Saudi Arabia Strategic Partnership Council meeting co-chaired by Prime Minister Mohammed Bin Salman and his Indian counterpart Narendra Modi held on Wednesday at the Royal Palace, Jeddah, according to a joint statement.

Energy and trade took center stage: The two sides agreed to jointly establish two oil refineries in India, as well as deepen energy ties and coordination. The agreement comes in a bid to promote stability of global oil and energy markets, to secure supplies of crude oil and derivatives as well as liquefied petroleum gas (LPG).

Both sides also agreed to begin negotiations on the bilateral investment treaty “at the earliest.” The talks also covered the expansion of the Saudi-Indian Strategic Partnership Council to include committees for defense and tourism.

ALSO- they agreed to deepening cooperation in the Indian Strategic Petroleum Reserve Program, as well as manufacturing and specialized industries, and promoting innovation in hydrocarbon, electricity and renewable energies, including plans for a joint study on electrical interconnection.

DATA POINT- India is Saudi Arabia’s second-largest trading partner, with trade flows reaching USD 39.9 bn in 2024. Indian investments in Saudi Arabia also saw significant growth, rising 39% y-o-y to USD 4 bn in 2023, up from USD 2.4 bn in 2022, state news agency SPA added.

Also signed at the meeting:

An MoU on space cooperation
An MoU on anti-doping and prevention
An MoU on regulatory and digital sectors
An MoU on current and future health risks
An MoU on medical products regulation (extension)
A bilateral agreement on inward foreign surface parcel

Modi’s visit was originally planned to span two days, but a deadly attack in the Jammu and Kashmir territories demanded the Indian Premier to return immediately, Reuters reported yesterday.

Saudi Telecom’s STC Bank to roll out its full services later in 2025

Saudi Telecom (STC) is looking to expand into corporate lending through STC Bank — its new Western Union-backed digital banking unit — with the bank now aiming to roll out its full suite of services later in 2025, STC Bank CEO Nizar Altwaijri told Bloomberg. The services will come after the bank received a USD 800 mn cash injection from STC, Altawariji said.

What we know so far: The bank will begin offering loans and investment products to large companies as well as SMEs and retail customers, Altawariji told the newswire. “Our existing customer base is large enough that we need to focus on all of the segments,” he said.

About STC Bank: STC Bank officially rolled out its digital banking services back in January after receiving the green light from the Saudi Central Bank (Sama). The bank, which previously operated as STC Pay, now functions as a full digital bank, after it had been running under a beta phase since April 2024.

Western Union is considered a key stakeholder for the bank, after it completed the acquisition of a minority stake for USD 200 mn back in 2021. STC declined to disclose whether Western Union is considering additional investments in the bank, according to Bloomberg.

How the bank fared last year: STC Bank recorded SAR 345 mn in gross income in 2024, according to data compiled by Bloomberg.

Arab Energy Fund puts USD 100 mn behind China’s United Energy Group

Arab Energy Fund backs China’s United Energy Group: Hong Kong-listed oil and gas player United Energy Group secured a USD 100 mn private loan from Riyadh-based investment firm Arab Energy Fund, formerly known as Apicorp, to shore up its cash reserves, Bloomberg reports citing a source it says is familiar with the matter.

To settle an old bill: The five-year facility will be used to refinance the company’s outstanding debt, with part of the proceeds earmarked for UEG’s upstream operations in Iraq. The firm is also looking to raise an additional USD 200 mn for similar uses.

Why it matters: The funding gives UEG more breathing room as oil prices come under pressure, with OPEC+ recently announcing a surprise supply hike for May. The loan also underscores deepening capital links between GCC investors and China’s energy sector, especially in Iraq and Egypt — two geographies where UEG has been actively growing its footprint.

ICYMI- The Arab Energy Fund recently issued a USD 650 mn 5-year senior unsecured bond under its Global Medium-Term Note Program, booking USD 935 mn in orders. The offering was 1.4x oversubscribed.

Saudi Arabia's 1Q 2025 contract awards value declines 50%, slipping to second place in regional rankings

Saudi Arabia’s contract awards fell by a steep 49.9% y-o-y in 1Q 2025 to USD 17 bn, reducing its share of total GCC project awards to 32.4%, down from 47.4% in the same period last year, according to Kamco Invest’s GCC Projects Market Update (pdf). The decline, coupled with weaker performance in two other GCC countries, contributed to a 26.8% y-o-y drop in the total value of regional contract awards to USD 52.4 bn, the lowest level in eight quarters.

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Oil dragged us down: The decline was primarily driven by continued challenges in the oil sector, including lower production and pricing pressures, the report said. Saudi Aramco still plans to maintain capital spending, especially in high-value petrochemical projects. Meanwhile, analysts maintain a positive outlook for the non-oil sector in Saudi Arabia for 2025, which should offset oil’s slowdown.

Construction and gas struggle, power picks up the slack: Construction contract awards fell 41.7% y-o-y to USD 5.5 bn in 1Q 2025. Gas didn’t fare much better, logging a 72.6% y-o-y decline to USD 1.9 bn. However, the power sector showed resilience with a 26.7% y-o-y increase in awarded projects to USD 3.1 bn, supported by a USD 90 bn pipeline — setting the stage for a record year — Kamco said.

A busy pipeline: The Kingdom has USD 801.2 bn worth of contracts in pre-execution stages, accounting for 52.1% of the GCC’s total at USD 1.54 tn. The UAE came in second place with USD 312.3 bn, followed by Oman (USD 169.9 bn) and Kuwait (USD 130.8 bn).

The quarter’s major awards: Siemens Energy secured a USD 1.6 bn contract to supply gas turbines for the Rumah 2 and Nairyah 2 power projects, which aim to replace aging oil-fired plants and reduce emissions by up to 60%. Meanwhile, a USD 301 mn contract was awarded to the Saudi arm of Kuwaiti real estate developer Mabanee for Phase Two of the 1.87 mn sqm Avenues Riyadh, a large-scale mixed-use development.

THE REGIONAL PICTURE-

A regional slump in 1Q 2025: Contraction also hit Qatar (down 37.9% y-o-y at USD 5.2 bn), Oman (down 51.1% y-o-y at USD 2.4 bn) and Bahrain (down 42.2% y-o-y at USD 334 mn). The only two countries that posted award increases in 1Q were Kuwait, up 197.6% y-o-y at USD 1.4 bn, and the UAE, up 11.7% y-o-y at USD 26.1 bn.

The first quarter saw declines in six of the eight key GCC industries. The construction sector posted a 50.4% y-o-y drop to USD 12.1 bn, while the oil sector declined 54.6% to USD 5.6 bn.

BUT- The projects market is expected to remain strong through 2025, led by expansions in hospitality and healthcare. Saudi Arabia holds the region’s largest healthcare project pipeline (51%), including the USD 450 mn second phase of King Faisal Medical City in Asir currently up for bidding.

Tariffs and global headwinds: US tariffs are expected to have a limited direct impact due to the region’s low trade exposure. However, indirect effects — such as lower oil prices — could pressure government revenues and, in turn, affect project financing and execution.

Mobily reports net income of SAR 767 mn in 1Q 2025, up 20.2% y-o-y

MOBILY-

Etihad Etisalat (Mobily) saw its net income increase 20.2% y-o-y to SAR 767 mn in 1Q 2025, while revenues increased 5.1% to SAR 4.8 bn over the same period, it said in a disclosure to Tadawul. Mobily’s strong performance was attributed to growth in all its revenue streams, as well as an expanded overall subscriber base, read the disclosure.

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YAMAMA CEMENT-

Yamama Cement’s net income grew 23.5% y-o-y to SAR 142.1 mn in 1Q 2025, on the back of a rise in both average selling prices and sales volumes, it said in a disclosure to Tadawul. Revenues rose 27.5% y-o-y to SAR 349 mn.

ALSO- Yamama expects Saudi Aramco’s 2025 fuel price hike to increase production costs by c. 6%, it said in a separate disclosure.

Al Khobar introduces air-conditioned rest areas for delivery drivers

TRANSPORT-

Delivery drivers get a rest: The Transport General Authority (TGA) launched its first model rest area for delivery drivers in Al Khobar, as part of a broader push towards improving working conditions in the sector, it said in a post on X. The facility includes air-conditioned rest zones and designated waiting areas.

ICYMI- Orders handled by delivery apps in the Kingdom reached 290 mn in 2024, with Riyadh Province accounting for 45.3% of the orders at 130.5 mn orders, followed by Makkah Province at 65.4 mn (22.7%) and the Eastern Province at 43.2 mn (15%).

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REAL ESTATE-

#1- The Real Estate General Authority (Rega) launched a fresh sub-brokerage contract service, enabling primary brokers to establish formal agreements with sub-brokers for property marketing, it said in a statement. The service defines the financial rights, responsibilities, deposit distribution methods, and commission structures governing the broker-sub-broker relationship.

Creating a subcontract: The primary broker can now log in to Rega’s Fal platform and create a sub-brokerage contract under an active brokerage contract with the property owner. Both brokers must have an active Fal license, with the sub-contract’s validity tied to these existing agreements, and must not exceed that of the main contract or the expiration dates of either broker’s license.

ICYMI- Last week, the Authority announced that it granted 71 FAL licenses to electronic real estate platforms since the program started. The licensed platforms allow Samah, Property Finder, and Dar, among others, to offer online real estate brokerage and marketing services.

#2- Riyadh’s iconic Saladin Hotel was sold for over SAR 170 mn (SAR 15k per sqm) in a public auction to Khawalid Real Estate Company, Khawalid’s General Manager Malik Almajid told Aleqtisadiah. The luxury hotel was built on a plot of more than 11k sqm around 46 years ago, and sits on the King Abdulaziz Road, King Salman District. The new owners plan to demolish it within six months to make way for a new residential and hotel project.

Foreign investors buck the trend in GCC market despite headwinds

Foreign investors still bullish on GCC stocks: Foreign investors continued buying into GCC stock markets in 1Q, with net inflows totaling USD 2.8 bn — just a bit lower than the USD 3 bn they put in during 1Q 2024, according to Kamco Invest’s quarterly report (pdf).

Foreigners stepped in where locals stepped back: With local investors offloading shares, foreigners were quick to step in and pick up the slack — taking advantage of cheaper valuations and turning what could’ve been a weak quarter into a solid one for cross-border inflows.

The bigger picture had its fair share of headwinds: Most regional stock markets didn’t perform well — six out of seven closed the quarter in the red. Investor sentiment took a hit due to global worries, especially over US trade tensions and signs of a potential economic slowdown, Kamco said, adding that the usual selling pressure around Eid also added to the drag.

March saw sentiment shifting: Things were looking good at the start of the year, with steady foreign buying in both January and February. But that momentum didn’t carry through the quarter — March saw a noticeable slowdown, with some investors switching to net selling.

Abu Dhabi led the pack, pulling in USD 2.3 bn in foreign capital, followed by Dubai which logged USD 343 mn in net inflows. Meanwhile, Saudi Arabia saw smaller amounts of net buying at USD 252.3 mn, with foreigners now allowed to invest in listed firms that hold property in Makkah and Madinah.

On the flip side, foreign investors were net sellers in both Qatar (USD 421 mn in outflows) and Oman (USD 459.2 mn out).

Saudi led the stock performance scoreboard: Saudi companies accounted for 5 of the top 10 Gulf stocks in terms of trading value. Al Rajhi Bank topped the list with USD 6.3 bn, dethroning Aramco which stock fell to third place at USD 4.4 bn.

MARKETS THIS MORNING-

Asian markets are mixed this morning, with Japan’s Nikkei inching up 1.1% and Shanghai Composite up 0.3%, while Hong Kong’s Hang Seng is down 0.7%. Meanwhile, Wall Street futures are collectively in the red, indicating minor losses on market open.

TASI	11,681	+0.8% (YTD: -3.0%)
MSCI Tadawul 30	1,489	+1.0% (YTD: -1.4%)
NomuC	28,463	+0.6% (YTD: -9.6%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	31,640	+2.6% (YTD: +6.4%)
ADX	9,324	+0.7% (YTD: -1.0%)
DFM	5,205	+1.4% (YTD: +0.9%)
S&P 500	5,376	+1.7% (YTD: -8.6%)
FTSE 100	8,403	+0.9% (YTD: +2.8%)
Euro Stoxx 50	5,099	+2.8% (YTD: +4.1%)
Brent crude	USD 66.12	-2%
Natural gas (Nymex)	USD 3.00	-0.7%
Gold	USD 3,310.43	+0.7%
BTC	USD 93,617.56	+0.1% (YTD: -0.9%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.8% yesterday on turnover of SAR 6.1 bn. The index is down 3.0% YTD.

In the green: Musharaka Reit (+10.0%), Albaha (+10.0%) and Mulkia Reit (+10.0%).

In the red: ACIG (-3.4%), Etihad Etisalat (-3.2%) and SPPC (-3.0%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.6% yesterday on turnover of SAR 30.5 mn. The index is down 9.6% YTD.

In the green: NBM (+10.0%), APICO (+8.5%) and Ghida Alsultan (+5.7%).

In the red: Almohafaza For Education (-9.6%), Munawla (-5.7%) and Multi Business (-5.5%).

CORPORATE ACTIONS-

Nomu-listed Sama Water’s BoD recommended a SAR 4 mn dividend distribution for FY 2024, at SAR 0.08 a piece, it said in a disclosure to Tadawul. The dividends are pending general assembly approval, where a distribution date will be announced.

Derayah Financial Company’s board approved a SAR 79.1 mn dividend distribution at SAR 0.325 per share for 1Q 2025, the company said in a disclosure to Tadawul. The distribution date is set for 14 May.

Saudi and UAE are high-potential markets for AI PCs

Over 60% of surveyed residents in Saudi Arabia and the UAE said they would upgrade to an AI-powered PC, with another 29% saying they’d probably consider it, indicating favorable market prospects, according to a press release citing an Intel-commissioned survey. Saudi Arabia was crowned the highest in the middle east for AI adoption at 58.5%, followed by the UAE at 41.5%.

Interest is especially strong among younger consumers, with 35% of the age group between 25-34 years old and 26.4% of the age group between 18-24 years old expressing high enthusiasm for adopting AI-powered PCs.

Overall sentiment toward AI learning and adaptation in the region is positive, with 36% expressing strong positivity, 34% showing some concern, and only 4% holding somewhat negative views (no fully negative views were recorded).

BUT- About 85% of the respondents expressed some level of concern — extreme concern was limited to 6-7% of respondents, while moderate concern was the most prevalent (29% of male and 28.4% of female respondents). Additionally, current AI PC usage remains low, with 44% of respondents reporting no prior usage despite awareness of AI PCs and only 6% currently owning such devices.

IN CONTEXT- Backed by some 14 regulations from the Saudi Authority for Data and Artificial Intelligence (SDAIA), the domestic AI market is expected to hit USD 9.2 bn by 2030 (12% of GDP), with USD 15 bn of expected investments to boost data center capacity to 1.3 GW.

CALENDAR

APRIL

21-26 April (Monday-Saturday): World Bank Spring Meetings, Washington.

23-25 April (Wednesday-Friday): Construction and Real Estate Development Exhibition, Jazan.

25 April-3 May (Friday-Saturday): AFC Champions League Elite Finals, Jeddah.

27-28 April (Sunday-Monday): First Saudi Statistics Forum, Movenpick Hotel and Residences, Riyadh

28 April- 30 April (Monday-Wednesday): Automechanika Riyadh, Riyadh International Convention and Exhibition Center, Riyadh.

29 April (Tuesday): Rules for special purpose entities (SPEs) feedback deadline.

MAY

May: World Intellectual Property Organization (WIPO) Global Awards 2025 announces finalists.

3 May (Saturday): Canelo Alvarez vs William Scull, Anb Arena, Riyadh.

4-8 May (Sunday-Thursday): Adeer Real Estate Nomu IPO offering period.

5 May (Monday): Opec+ meeting.

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

9 May (Friday): PFL Mena Season 2 Kick-off.

11-13 May (Sunday-Tuesday): Future Hospitality Summit, Mandarin Oriental Al Faisaliah, Riyadh.

12-14 May (Monday-Wednesday): 2025 Saudi Giga projects Summit, Riyadh.

12-15 May (Monday-Thursday): Saudi Smart Manufacturing, Riyadh International Convention & Exhibition Center.

23 May (Friday): Guns N’ Roses Show, Riyadh.

29 May (Thursday): 2024-2025 academic year ends.

JUNE

4-9 June (Wednesday-Monday): Hajj.

6-10 June (Friday-Tuesday): Eid Al Adha.

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

24-25 June (Tuesday-Wednesday): Tech-ecO-System Summit (ToSS), Riyadh.

30 June (Monday): Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca) deadline.

JULY

July (Second week): World Intellectual Property Organization (WIPO) Global Awards 2025 awards ceremony, Geneva.

7 July-24 August (Monday-Sunday): Esports World Cup, Riyadh.

29-30 July (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022/2023 revenues to integrate e-invoicing solutions with Fatoora.

AUGUST

7 July-24 August (Monday-Sunday): Esports World Cup, Riyadh.

5-17 August (Tuesday-Sunday): 2025 Fiba Asia Cup, Jeddah.

SEPTEMBER

15-17 September (Monday-Wednesday): Money 20/20 Middle East, Riyadh.

17-18 September (Wednesday-Thursday): US Federal Reserve Open Market Committee meeting and Summary of Economic Projections.

23 September (Tuesday): Saudi National Day.

OCTOBER

1-3 October (Wednesday-Friday): Saudi Green Building Forum, Riyadh.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

17 October (Friday): Saudization for private healthcare roles enters its second phase.

22-23 October (Wednesday-Thursday): Private Capital Forum, Riyadh.

25-27 December (Saturday-Monday): The Fortune Global Forum 2025, Riyadh.

28-29 October (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

NOVEMBER

3-9 November (Monday- Sunday): WTA Tour Finals, Riyadh.

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

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

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

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

DECEMBER

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

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

31 December (Wednesday): Zatca 22st E-invocing integration wave deadline.

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

8-12 February (Sunday-Thursday): World Defense Show, Riyadh.

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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Saudia orders 10 Airbus aircrafts for Flyadeal + Airbus buys SAR 2.5 bn worth of raw materials

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Saudia orders 10 Airbus aircrafts for Flyadeal + Airbus buys SAR 2.5 bn worth of raw materials

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