Switching lanes

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Oil major execs drop out of WPC Energy congress as Houthis continue striking airports

Good morning, ladies and gentlemen. Riyadh and Dammam continue to face the brunt of attacks from the Houthis, with both cities’ airports hit and damage assessments still under way.

Riyadh schools are holding classes online this week after Saturday’s airport attack, the second such directive in less than a month. The current schedule runs through this Thursday, 15 October, at some schools, while others have moved to virtual lessons indefinitely, Siasat reported, citing emailed notices it had seen. Parents have been advised to check school communications for class schedules, instructions and any changes to exam dates. Many companies have also shifted to working from home, several sources have told us.

Meanwhile: Saudi money has moved into the instruments that pay something to wait. Money market funds are now the largest category in the public fund industry, ahead of equity funds, debt funds are the fastest-growing, and equity funds took net outflows over the first half. Owners price a listing against what buyers can earn sitting in a money market fund, and the queue thins while that comparison holds.

War watch

The Houthis have claimed responsibility for attacks on airports and Aramco facilities in Saudi Arabia, according to a statement released yesterday by Houthi spokesperson Yahya Saree. The attacks took place over the previous 24 hours and involved ballistic and cruise missiles as well as drones, Saree said. The targets included King Khalid International Airport in Riyadh and King Fahd International Airport in Dammam, as well as Aramco’s Shedgum gas plant and Tanajib oil facility in the Eastern Province. Saudi-led coalition forces intercepted a ballistic missile launched by the Houthis targeting Khamis Mushait earlier today, coalition spokesperson Major General Turki Al Maliki said.

The group is still targeting the Riyadh airport and are warning carriers, airport staff, and travelers against using Saudi airports. An unknown projectile hit Passenger Hall 4 at King Khalid International Airport, igniting a fire, the Saudi-led coalition said. The attack resulted in the death of one Pakistani national and 11 injuries, while the material damage is still being assessed, SPA reported. Air defenses also intercepted and destroyed a separate cruise missile near the airport.

ICYMI- The weekend attack on Riyadh airport killed 12 people and injured 309, prompting the General Authority for Civil Aviation to suspend operations there. After that strike, US President Donald Trump said Washington is weighing whether to step in and support operations against the Houthis.

Damage assessments and safety checks are ongoing at King Fahd International Airport in Dammam, the Saudi General Authority of Civil Aviation (GACA) said yesterday in a statement.

Strikes cast a shadow on key events: Chief executives of oil companies, including ExxonMobil, TotalEnergies, Shell, and BP, have canceled their plans to attend the WPC Energy Congress in Riyadh, the Financial Times reports, citing two sources in the know. The conference began yesterday and is set to run until Thursday.

Saudi Arabia hit back across Yemen, with Saudi jets launching airstrikes on Sanaa, Taiz, Amran, and Ibb, Sky News Arabia reports, citing Yemeni field sources. In Taiz, the strikes hit Houthi vehicles and gatherings in the areas of Al Hawban, Al Hijriyah, Jabal Habashi, and the Al Sayahi front, killing and wounding Houthi fighters.

The ground war in Taiz is also heating up. Clashes broke out between government forces and the Houthis in the Al Masrakh and Sabr Al Mawadim districts after the group took Najd Qasim, southwest of the city. The sources said the Houthis also advanced on the Al Sayahi front, aiming to cut the Wadi Al Dhabab road and reach Taiz’s southern entrance.

Against all odds

Saudi Arabia is making the public case for spending big on backup pipelines. At the World Petroleum Congress in Riyadh, Energy Minister Prince Abdulaziz bin Salman said the Kingdom is building alternative pipelines to move oil away from congested, vulnerable sea lanes, Al Arabiya reports. New lines are costly, he said, but the cost of not having alternatives is far greater in a crisis.

It puts a doctrine behind the moves we’ve tracked. The remarks frame the logic for reported work on a pipeline to Oman’s Duqm and talk of export corridors to Europe through Syria, Turkey, and Iraq. After a year in which the war disrupted exports and knocked the East-West line offline, Riyadh is casting route redundancy as ins. worth paying for.

He also pushed back on the energy transition, warning that an overzealous drive to net zero risks the world’s energy security, and arguing the sector needs every source — oil, gas, renewables, nuclear, and geothermal.

Back for another Gulf mega-check?

SoftBank’s Masayoshi Son is sounding out Gulf investors to raise up to USD 100 bn for a new AI-focused acquisition fund, the Financial Times reports, citing people it says are familiar with the discussions. Son has reportedly approached potential backers in the UAE for the fund, which would acquire companies and rebuild their operations around AI, with SoftBank’s robotics arm Roze — which Son wants to take public — likely to be involved. No commitments have been announced, and the fundraising could still fall through.

REMEMBER- There’s history here: The Public Investment Fund was among the investors in SoftBank’s Vision Fund, alongside Abu Dhabi’s Mubadala, which committed USD 15 bn.

What to watch out for: Whether Son can persuade Gulf investors to write another round of big checks, particularly with SoftBank already exposed to OpenAI to the tune of USD 65 bn and the ChatGPT maker’s postponing IPO, adding uncertainty to its investment plans.

The gas crunch gave Egypt every reason to speed up its energy transition, and the question now is who builds it and who pays for it.

Power Trip, our four-part signature series, turns this week to the transition and the private developers now building much of Egypt’s new power.

Issue II looks at how the deals behind these projects work, who is lending to them, and why the country is building a nuclear plant at El Dabaa alongside its solar and wind farms. We also look at whether the regional crisis has finally pushed industry toward renewables, and at the factories Egypt is counting on to build its own panels, batteries, and turbines.

Tap here to subscribe to the Egypt edition and get Power Trip delivered straight to your inbox.

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The big story abroad

US President Donald Trump has announced an immediate Russia-Ukraine “energy ceasefire,” saying that both sides have agreed to it. Ukrainian President Volodymyr Zelenskiy said he was still awaiting the ceasefire’s specifics. The announcement follows days of pressure from Washington on Kyiv to halt its attacks on Russian oil refineries. Moscow has not confirmed the ceasefire.

US Central Command (Centcom) forces disabled a commercial cargo ship in the Gulf of Oman for allegedly trying to run the US naval blockade on Iran, the first such attack in more than a month. The Panama-flagged vessel attempted to cross regional waters after departing an Iranian port and was fired upon after receiving warnings, Centcom said.

E-commerce giant Amazon is negotiating an acquisition of startup Decart AI in a transaction that could be worth roughly USD 7 bn. Decart AI — whose software simplifies switching between different AI chips for developers — raised more than USD 400 mn in venture capital funds and was valued at USD 4 bn in May.

Debt + money market funds draw inflows as Saudi main-market listings stall

Saudi capital is moving toward fixed income and cash, and the main-market listing pipeline thinned alongside it. The Capital Market Authority approved no main-market offerings in 2Q, against three in 1Q, and cleared three Nomu listings, according to its latest quarterly bulletin (pdf). Another 31 requests are under review, 17 for the main market and 14 for Nomu, down from 51 a year earlier.

Where the money went instead: Net fund subscriptions totaled SAR 13 bn in 1H 2026, down 60% from SAR 32.7 bn a year earlier. Debt funds led the inflows at SAR 5.2 bn, with money market and multi-asset funds also taking in money, while equity funds saw SAR 0.8 bn of net outflows. Debt funds are the fastest-growing category at 58.6% y-o-y, and money market funds are now the largest at SAR 87.4 bn, ahead of equity funds at SAR 43.7 bn. Total public fund assets rose 19% y-o-y to SAR 245.5 bn across 371 instruments.

REMEMBER- The CMA is proposing rules to improve pricing and strengthen underwriting. Bookbuilding orders would have to be backed by existing liquidity, with advisers and participating institutions verifying investors’ financial capacity, and underwriting agreements would take effect before bookbuilding begins, leaving underwriters to buy any unsubscribed shares.

February’s opening hasn’t shifted the ownership mix: International investors held 4.72% of the main market, worth SAR 445.2 bn, in 2Q, against 4.69% in 1Q and 4.51% a year earlier. They bought SAR 124.8 bn and sold SAR 120 bn over the quarter. Government entities remain the largest holders at 65.1%, or SAR 6.15 tn, followed by companies at 16.7%.

The growth is happening off the main market: Private fund assets rose 31.4% y-o-y to SAR 755.7 bn, with real estate funds holding 56% of that, and the number of private funds climbed past 1.87k from 1.78k, though subscribers fell 5.6% q-o-q to 181k. Assets under custody jumped 47.1% y-o-y to SAR 4.17 tn across 68 institutions, and value traded through Saudi market institutions in foreign markets rose 18% q-o-q to SAR 312.1 bn.

Saudi equity funds stay home: 87% of their assets, SAR 38.1 bn, sit in Saudi stocks, with SAR 3.28 bn in GCC equities and SAR 21.2 mn in US markets.

On the debt side: The government issued SAR 29.9 bn in 2Q and redeemed SAR 10.5 bn, while corporate debt offerings fell 34.1% y-o-y to SAR 8.08 bn. Unlisted corporate debt outstanding rose 5.9% q-o-q to SAR 121.7 bn, with listed corporate debt at SAR 19.2 bn across 10 issuers.

The intermediaries are doing well out of it: Market institution revenues rose 9.1% y-o-y to SAR 5.15 bn in 2Q, led by investments at SAR 1.79 bn and asset management at SAR 1.76 bn, with dealing and brokerage at SAR 657.1 mn.

A layered AI market is taking shape in Saudi Arabia, and the opening for startups is above the infrastructure, Counterpoint says

Saudi Arabia has poured USD bns into AI infrastructure, but is the economy around it ready to use it? Counterpoint Research’s latest Global AI Cities Index ranks Riyadh 36th in the world, behind Dubai in fourth place and Abu Dhabi in eighth, a gap that can close only as adoption catches up with the hardware.

In numbers: AI adoption could boost Saudi Arabia’s real GDP growth by 0.1-0.4 percentage points annually over the next decade, the IMF estimates (pdf). Gains could reach 0.6 pp and lift GDP by up to 6% over the decade if investment scales up, AI preparedness gaps with advanced economies narrow, and AI services exports grow. However, gains depend on investments delivering expected productivity improvement.

We put five questions to Marc Einstein, research director at Counterpoint (LinkedIn), on how the market structures itself from here and where that leaves Saudi startups. Edited excerpts from our conversation:

Enterprise: How do you assess the current development of Saudi Arabia's AI market?

Marc Einstein (ME): I was at last month’s Leap conference in Riyadh, and the momentum is hard to miss. Over four days, the event saw announcements, investments and agreements worth nearly USD 15 bn across AI infrastructure, data centers, cloud computing and technology manufacturing.

Investment and infrastructure are clearly running ahead of adoption. Our 2025 Global AI Cities Index reflects this: Dubai ranked fourth in the world and Abu Dhabi eighth, while Riyadh sat at 36th, though Riyadh was among the fastest-growing AI cities in the world. When it comes to AI in government, Abu Dhabi is the gold standard in the region. It’s building an AI-native government with USD 3.5 bn committed through 2027, has already trained 95% of public sector employees in AI, and has a research base in MBZUAI and TII. Riyadh should climb sharply on infrastructure and vendor activity, but closing the gap with the UAE will depend on adoption across government and industry.

E: How does the market structure evolve from here?

ME: I expect a layered market. A few very large infrastructure players will sit at the base, with a much more fragmented application layer on top. The base is already taking shape: AWS will deploy and manage up to 150k Nvidia GPUs in a dedicated AI Zone in Riyadh, and at Leap AMD said its Instinct MI355X GPU systems are now live in Saudi Arabia alongside Cisco networking, serving Humain customers. On models, the approach is pragmatic rather than purist. Humain’s humain-m3 is an Arabic-language model based on Chinese lab MiniMax's M3, which shows the priority is sovereign control and Arabic capability, not owning every layer.

E: Does the scale of these large players squeeze local startups?

ME: Yes, particularly for startups building horizontal products such as general chatbots or foundation models, which compete directly with players that have sovereign backing and privileged access to compute. Talent is another pressure point. Funding is also more selective than the headlines suggest. According to Magnitt, Saudi Arabia led the region in 2025 with USD 1.72 bn across 257 disclosed deals, but funding fell 74% year on year in 1H 2026, while dealcount fell only 41%. Much of that drop reflects mega-rounds that didn't repeat, but the message for founders is clear: investors want traction, not just an AI story.

E: You’ve described the squeeze. What do these same investments open up?

ME: I think this is the bigger story. Large-scale infrastructure gives startups compute they don't have to finance themselves, and every enterprise buying AI capacity will need applications and integration to use it. Leap showed the support structures forming. The Digital Government Authority and STV announced a partnership under which the DGA will give participating startups access to government use cases, an experimental innovation environment, procurement opportunities, and regulatory and funding pathways. Humain is also becoming an investor, with a USD 10 bn venture fund, Humain Ventures.

E: If you were advising a founder in Riyadh today, where would you tell them to build?

ME: The strongest opportunities are in applications and enablement, not in competing on infrastructure. I'd highlight Arabic-language and culturally specific AI; vertical solutions for energy, government, healthcare, finance, logistics and the giga-projects; agentic AI that turns compute into measurable productivity; and governance, security and compliance tools as adoption scales. Fintech is a natural bridge.

Emaar EC names a new managing director

Emaar, the Economic City Vice Chairman Naif Saleh AlHamdan (LinkedIn) will become managing director on 1 November, following CEO Abdulaziz Ibrahim Alnowaiser’s (LinkedIn) resignation at the end of this month due to professional commitments, according to a Tadawul disclosure. AlHamdan also heads the West Coast Portfolio Management Department at the Public Investment Fund and has more than 20 years of experience in investment, investment banking and real estate development. His previous roles include positions at Sulaiman A. Al Rajhi Real Estate Investment Company, Global Investment House, Ernst & Young and SABB Bank.

Acwa Power grows into one of Saudi Arabia’s biggest private fortunes at USD 34.9 bn

Saudi Arabia’s water investments are turning into one of its biggest private-sector fortunes. Acwa Power has grown into one of the world’s largest private desalination companies with a market value of USD 34.9 bn, Bloomberg writes. The Public Investment Fund remains the biggest shareholder at 44.2%, and the Abunayyan and Al Muhaidib families together own at least 26.3%.

Why the war is raising the stakes: Kuwait and Bahrain reported strikes on desalination projects earlier this year, and Acwa said in a June investor report that some of its facilities in the region came under attack, though it maintained it had an operational framework to manage the risks. Jefferies analyst Prateek Bhatnagar told Bloomberg that Acwa’s long-term water contracts partially insulate it from short-term downturns. Desalination, clean energy, and renewable infrastructure also remain central to the Kingdom’s long-term development plans.

Diversification is Acwa’s main buffer: The company runs more than 100 assets across multiple markets and expanded beyond the Gulf into Morocco, Uzbekistan, Egypt, and Turkey, which Bhatnagar says partially mitigates the impact of any single attack. Acwa has also secured government approval for the exclusive right to export Saudi green hydrogen, began expanding into China in 2024, and is exploring entry into the US market.

MIS books third and fourth Humain work orders in under two weeks

Al Moammar Information Systems’ (MIS) Humain contract is converting fast. MIS has booked its third and fourth work orders under its SAR 8.76 bn agreement to build 250 MW of AI data centers for Humain, each worth more than 1.35 times its 2025 revenue, it said in two separate Tadawul disclosures.

That brings the count to four in under two weeks; together they now cover more than 550% of last year’s revenue, roughly four-fifths of the framework. Each runs 16 months, with the financial impact starting in 4Q 2026.

Sharakat to develop a sewage plant in Riyadh

Sharakat received five bids from local and international consortia to develop a sewage treatment plant in Riyadh, according to Zawya. The plant will treat 200k cubic meters of wastewater per day, with capacity expandable to 400k cubic meters, under a 25-year build-own-operate-transfer contract.

Who are the bidders? The five consortia include Miahona, Marafiq and Bin Omairah Holding; GS Inima Environment and Alkhorayef Water and Power Technologies; Metito Utilities, Etihad Water and Electricity Company and TamimCo; Suez, Civil Works Company and Al Awael Modern Contracting Company; and Lamar Holding and China Harbour Engineering Company.

The timeline: The company will evaluate the bids before selecting a preferred bidder, with development expected to begin in 2027 and operations to start in 2030.

Regional energy ambitions

Saudi Arabia has signed three MoUs to boost cooperation with Egypt, Qatar, and Kuwait across various energy sectors, SPA reports. Here’s a rundown of all the agreements signed.

A pipeline project with Doha? The Saudi-Qatari MoU seeks to establish cooperation across oil, gas, refining, petrochemicals, power, clean hydrogen, renewables, and energy storage. It also covers exploring joint opportunities to build pipelines to transport and export oil and gas.

Saudi Arabia and Egypt signed an MoU that aims to enable cooperation in oil, gas, and their products, including their trading, transport, storage, and distribution, as well as related infrastructure and logistics.

The MoU signed with Kuwait aims to establish “a framework for cooperation” in areas such as renewable energy, electrical interconnection, electricity exports, energy storage, smart grids, cybersecurity, and AI.

Ajdan to establish a SAR 5.6 bn coastal project

Ajdan Real Estate Development has launched its SAR 5.6 bn Khobar Pier coastal project in partnership with Ashraq Development, the Tourism Development Fund, and Aljazira Capital, TradeArabia reports. The project will span 671k sqm in Al Khobar, with an 850-m waterfront and 305k sqm of developed area. Plans include 689 residential units, 690 hotel rooms, and 33k sqm of commercial space, with interconnected waterways surrounding a central island and an elevated hill overlooking the Gulf.

Avalon Pharma makes a play for Mounjaro

Avalon Pharma is lining up a weight-loss drug play. The Saudi drugmaker has signed an exclusive license with India’s OneSource Specialty Pharma to register and sell a generic of Mounjaro — the tirzepatide pen used for diabetes and weight loss — across Saudi Arabia and the wider MENA region, as marketing-authorization holder and with the right to move manufacturing in-house later, according to a Tadawul filing. Avalon expects the license to bring in at least SAR 800 mn over its first five years after launch. Launch, though, waits on the relevant patents expiring, which puts that revenue years out.

Separately, Avalon signed a six-month MoU with China’s Aurisco Pharma to develop RNA-based drugs, starting with cholesterol treatment Inclisiran, and to make them in Riyadh.

Autobia raises USD 12 mn

Autobia has raised USD 12 mn in a Series A round led by Artal Capital, with participation from Aljazira Capital and Wa’ed Ventures, Co-founder Ahmed Alawfi posted on LinkedIn. The B2B platform connects auto-parts retailers and wholesalers with verified suppliers, offering sourcing, logistics and payment solutions, including flexible inventory terms and buy now, pay later services through licensed providers.

Wall Street sees Treasury yields at 6% as structural pressures outlast oil-driven selloff

Oil lit the fuse on the Treasury selloff, but it isn’t what Wall Street expects to keep yields high. The benchmark 10-year has climbed almost 120 bps this year to 5.29%, close to its highest level since 2002, and Pimco’s Dan Ivascyn tells the Financial Times that 6% — a level unseen since 2000 — isn’t a far-off scenario. A Wall Street Journal survey shows economists expect oil to drop below USD 80 / bbl by July and inflation to cool to 2.3% by the end of 2027, yet they see the 10-year still near 4.8% by then. That’s half a point above what they forecast in July.

The oil shock is expected to pass, but the higher cost of US borrowing isn’t. Forecasters now see the 10-year ending this year at 5.1%, up from 4.4% in July, which they attribute to a mix of drivers that has little to do with the oil price. The fiscal picture keeps worsening, with interest on the national debt now exceeding military spending. The AI infrastructure build-out is soaking up capital, and the growth outlook has firmed, with 2026 GDP now seen at 2.4%, up from 2.1% in July.

The Fed has also turned hawkish, raising rates last month for the first time in three years and projecting rates above 4% through 2027. Northern Trust’s Carl Tannenbaum concedes that an end to the Iran war would ease some pressure on yields. Debt worries and AI-driven capital demand would remain, however, and he sees the 10-year at 5.2% through 2028. Decision Economics’ Allen Sinai calls it “a sea change in the fundamentals.” He expects yields near 6% next year and above 5% for the rest of the decade.

The near-term danger is positioning. Oil-driven inflation fears started the selling. What could carry yields to 6% is forced selling, according to Ivascyn. Platform hedge funds and other leveraged players are being stopped out of losing bond bets. Their exits push yields to levels that trigger further selling from holders like REITs, the “vicious loop” investors have been warning about for weeks. 3Q was already the Treasury market’s worst quarter this century.

Where it starts to hurt: Ivascyn draws the line at 5.5%. Beyond it, he expects “decent weakness in risk markets,” in both credit and equities, even with US indices near record highs. The strain is already showing in the weakest borrowers, with junk bond yields hitting 17% this month, the highest since May 2020. US households are feeling it too, weeks before the midterms, as the 30-year mortgage rate reaches 7.4%, a high not seen since 2023. Ivascyn also expects slow-motion trouble in private markets, where commercial real estate and other fragile capital structures are most exposed. Washington’s planning hasn’t caught up. The Congressional Budget Office’s February baseline assumed the 10-year wouldn’t top 4.3% this decade, and the White House budget office sees yields falling into the mid-3% range.

What could cap it: Yields this high eventually draw buyers looking to lock in returns, and this week’s 10- and 30-year auctions saw robust demand. Ivascyn also argues there’s no need to be all-in on US paper. He points to Australia, the UK, Canada, and Germany as offering attractive yields with better fiscal starting positions.

MARKETS THIS MORNING-

Asian markets were mixed in early trading. South Korea’s Kospi was down around 2.2%, and MSCI's broadest index of Asia-Pacific shares outside Japan was largely flat. Japanese markets are closed today.

TASI	10,360	-0.2% (YTD: -1.2%)
MSCI Tadawul 30	1,394	-0.1% (YTD: +0.5%)
NomuC	21,701	+0.4% (YTD: -6.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	52,207	-2.0% (YTD: +24.8%)
ADX	9,796	-0.1% (YTD: -2.0%)
DFM	5,818	+0.3% (YTD: -3.8%)
S&P 500	7,812	+0.6% (YTD: +14.1%)
FTSE 100	10,552	+1.1% (YTD: +6.3%)
Euro Stoxx 50	6,173	+0.8% (YTD: +6.5%)
Brent crude	USD 104.13	-0.6%
Natural gas (Nymex)	USD 3.18	-1.2%
Gold	USD 4,221	+0.1%
BTC	USD 83,660	+0.4% (YTD: -4.8%)
Sukuk/bond market index	888.91	+0.3% (YTD: -3.3%)
S&P MENA Bond & Sukuk	146.90	+0.3% (YTD: -3.3%)
VIX (Fear gauge)	14.84	-3.7% (YTD: -0.7%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.2% yesterday on turnover of SAR 2.7 bn. The index is down 1.2% YTD.

In the green: Saudi Industrial Development (+10%), Watani Iron Steel (+9.9%), and Amlak International Finance (+6%).

In the red: Arab National Bank (-3.3%), Saudi Research and Media Group (-3%), and Theeb Rent a Car (-3%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.4% yesterday on turnover of SAR 14.7 mn. The index is down 6.9% YTD.

In the green: Alfakhera for Mens Tailoring (+30%), Munawla Cargo (+18.8%), and Dar Almarkabah for Renting Cars (+13.3%).

In the red: Naf Company for Feed for Industry (-9.7%), Arabian Plastic Industrial (-7%), and Dkhoun National Trading (-7%).

CALENDAR

11-15 October (Sunday-Thursday): WPC Energy Congress, Riyadh Front Exhibition & Conference Center, Riyadh.

11-15 October (Sunday-Thursday): Riyadh Energy Week, Riyadh Front Exhibition & Conference Center, Riyadh.

14-17 October 2027 (Thursday-Sunday): Red Sea Yacht Show, Jeddah Yacht Club, Jeddah.

21 October - 30 December (Wednesday-Wednesday): Riyadh Season, Riyadh.

25-26 October (Sunday-Monday): The Global Proptech Summit, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

26-28 October (Monday-Wednesday): ACHEMA Middle East, Riyadh International Convention & Exhibition Center.

26-29 October (Monday-Thursday): The Future Investment Initiative, King Abdulaziz International Conference Center, Riyadh.

28-29 October (Wednesday-Thursday): Procurement and Supply Chain Futures Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

28-29 October (Wednesday-Thursday): Real Estate Supply Chain Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

30 October-1 November (Friday-Sunday): The New Global Sport Conference, Sofitel Hotel & Convention Centre, Riyadh.

NOVEMBER

11-12 November (Wednesday-Thursday): Aluminum Arabia, The Arena, Riyadh.

16-19 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre (Malham), Riyadh.

29 November-1 December (Sunday-Tuesday): The UN Trade and Development Global Supply Chain Forum, Riyadh.

29 November-1 December (Sunday-Tuesday): The Global Logistics Forum, King Abdulaziz International Convention Centre, Riyadh.

Signposted to happen sometime in 2026:

2H: Sabic’s USD 6.4 bn Fujian project in China to start production;
November: The Esports Nations Cup, Riyadh;
The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah;

2027

JANUARY

12-14 January (Tuesday-Thursday): The Future Minerals Forum (FMF), Riyadh.

FEBRUARY

1-3 February (Monday-Wednesday): Energy Regulators Regional Association annual conference, Riyadh.

MARCH

21-25 March (Sunday-Thursday):The World Water Forum, Riyadh.

22–24 March (Monday-Wednesday): Capital Markets Forum, Four Seasons Hotel, Riyadh

APRIL

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

JUNE

1-3 June (Tuesday-Thursday): The Saudi Entertainment and Amusement Expo, Riyadh Front Exhibition and Conference Center.

Signposted to happen sometime in 2027:

The Ocean Race finishes in Amaala on the Red Sea;
Riyadh-Kudmi transmission line to be completed;
Aero Middle East and Sand & Fun takes place in Thumamah Airport, Riyadh.

Signposted to happen sometime in 2Q 2027:

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

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Today at a glance

THIS MORNING: Oil major execs drop out of WPC Energy congress as Houthis continue striking airports

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Debt + money market funds draw inflows as Saudi main-market listings stall

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A layered AI market is taking shape in Saudi Arabia, and the opening for startups is above the infrastructure, Counterpoint says

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Emaar EC names a new managing director

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Acwa Power grows into one of Saudi Arabia’s biggest private fortunes at USD 34.9 bn

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MIS books third and fourth Humain work orders in under two weeks

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Wall Street sees Treasury yields at 6% as structural pressures outlast oil-driven selloff

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Switching lanes

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Today at a glance

THIS MORNING: Oil major execs drop out of WPC Energy congress as Houthis continue striking airports

Get Enterprise daily

Related

This publication is proudly sponsored by

Debt + money market funds draw inflows as Saudi main-market listings stall

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Related

A layered AI market is taking shape in Saudi Arabia, and the opening for startups is above the infrastructure, Counterpoint says

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Related

Emaar EC names a new managing director

Related

Acwa Power grows into one of Saudi Arabia’s biggest private fortunes at USD 34.9 bn

Related

MIS books third and fourth Humain work orders in under two weeks

Related

Wall Street sees Treasury yields at 6% as structural pressures outlast oil-driven selloff

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