The hiring tell

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Yemen launches Saudi-backed offensive to retake Houthi territory

Good morning, friends. It’s Forum Day in Cairo. The EnterpriseAM Egypt Forum: The AI Edition is kicking off in two hours, bringing together 500+ of the people who run the Egyptian economy. We have a couple of dozen business leaders joining us on stage to discuss the pertinent questions of our era — what does AI really mean for your business and your people, and what do you do about it? Follow us and stay tuned for coverage on Instagram and LinkedIn.

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In today’s issue: Yemen’s government has launched a campaign to take back Houthi-held territory and is getting Saudi financial backing to shore up its economy and fiscal position as it does so.

A large portion of our issue today dovetails rather neatly with another bout of fighting breaking out in our neighborhood: In different corners of the economy, companies have stopped treating disruption as an event. In construction, projects are planning ahead and ordering materials far earlier, while hiring points in the same direction, as industrial players that built contingency plans in the past several years are trudging along through this year’s shipping-cost shock.

We’re honored to welcome Dr. Ahmed Heikal as a guest speaker at the 2026 EnterpriseAM Egypt Forum.

Dr. Heikal founded Qalaa Holdings in 2004, building it into Africa’s largest private equity firm with investments spanning 15 countries and 15 industries, before leading its transformation into a holding company spanning energy, cement, transportation & logistics, agrifoods, and mining. Along the way, he built more than 80 businesses across Egypt and Africa, including the Egyptian Refining Company, Egypt's largest private-sector-led infrastructure project, and has since exited more than 20 of them. He also founded the Qalaa Holdings Scholarship Foundation in 2007, which has supported more than 70k beneficiaries.

Earlier in his career, Heikal joined EFG Hermes in 1992 and played a key role in transforming the small financial consultancy into the leading investment bank in the Arab world and emerging markets, holding senior roles across asset management, investment banking, brokerage, and private equity before becoming an executive board member and Managing Director.

Registration is now closed. Thank you to everyone who registered. We look forward to welcoming you today.

WEATHER- Heavy thunderstorms could bring flash floods and hail to Jazan, Asir, Al Baha, Makkah, and Madinah today, according to the NCM. Lighter showers are forecast across parts of the north and Eastern Province, while dust-raising winds will affect several regions. The coastal areas of Makkah and the Eastern Province could also see fog.

Funding the front lines

Yemen’s government has initiated military operations against the Houthis with the support of Saudi Arabia. Yemeni President Rashad Al Alimi said the decision was made after exhausting all other de-escalation avenues, and that the campaign will continue until the government takes back control of Houthi-held territory.

Calling in (financial) backup: Riyadh is making a new budget support disbursement of more than SAR 224 mn to the Yemeni government, the Saudi Development and Reconstruction Program for Yemen said yesterday. The statement did not make an explicit connection between the financial support and Yemen’s military campaign against the Houthis, saying the funding is meant to “cover operational expenditures and salaries … [and] contribute to reducing the budget deficit, ensuring stable governmental financial flows, strengthening purchasing power, and boosting economic activity.”

Coordinating with regional allies: A committee under the Makkah Agreement for Joint Defence between Saudi Arabia, Turkey, and Pakistan will convene in ‌Riyadh today, according to a statement by the Turkish Foreign Affairs Ministry. The talks will address “regional developments and the stage reached in the Alliance’s institutionalization efforts,” the statement said.

A new sheriff in town

Foreign ownership limits on Saudi listed companies are being set sector by sector, with the Capital Market Authority (CMA) negotiating the caps with the regulators that oversee each industry, Chairman Mazen Al Sudairi tells Al Arabiya Business (watch, runtime: 24:41). The aim is to agree on limits that won’t later be walked back.

REMEMBER- Days after Al Sudairi’s appointment last August, Morgan Stanley projected the foreign ownership cap could rise to 75%, drawing around USD 4.3 bn in additional inflows, or USD 7.4 bn if restrictions are lifted entirely.

The CMA has drawn up a 90-day action plan covering IPO quality, the number of declining stocks, and retail participation, Al Sudairi says. Most demand submitted in IPOs does not necessarily reflect “genuine investor demand,” he says, adding that the oversubscription rate of an offering’s book is not by itself a measure of its success.

More of the book for retail: The regulator wants retail allocation in IPOs raised to 30%, as part of making the stock market a genuine savings destination for Saudi citizens.

Enforcement without the chill factor: The CMA has investigated previous IPOs but doesn’t want that role to deter participation. Al Sudairi describes the authority as a “regulator rather than a police officer” and says it should be a source of confidence — not fear — for investors.

Also coming down the pipeline: The CMA is working on new rules for short selling, which Al Sudairi ties to the practice’s current effect on the market. Listed companies will also be required to hold two earnings discussion meetings a year, aimed at improving transparency and helping institutional investors engage with small and mid-cap names.

Benching Neom stadium

Saudi Arabia has indefinitely paused the 2034 World Cup stadium it planned to build inside Neom’s The Line, Reuters reports, citing two people familiar with the matter. The 46k seat venue has no restart date.

The signs were there: PIF governor Yasir Al Rumayyan said in April that The Line had slipped down the priority list, though he maintained nothing had been canceled. Months on, Neom’s website had swapped The Line’s futuristic renders and sweeping promises for more sober language on delivery and commercial viability. Construction tracker Meed now carries the USD 2.5 bn stadium as “on hold.”

Caught up in a wider trim: Riyadh has been paring back its costliest giga-projects — work on the Mukaab, the giant cube at New Murabba, is already suspended. The backdrop is tighter money. The Finance Ministry projected last week a fiscal deficit of 3.6% of GDP and an equal contraction in real GDP for the year.

The tournament itself isn’t at risk. Saudi Arabia is still building or renovating 14 other venues for 2034, with completions scheduled between 2026 and 2033. The Aramco Stadium in Al Khobar opens in January, with tickets already on sale.

The glitz is getting cut first

Saudi Arabia looks set to skip next year’s Joy Awards. The government is preparing to drop the next edition of the annual show, due in January, as it reprioritizes entertainment spending and the Iran war weighs on the sector, Reuters reports, citing two people with knowledge of the matter.

Two other events have already gone… The Red Sea Film Festival has moved to 2027, and the Soundstorm (MDLBEAST) festival is off for December. Booking international acts has grown harder during the war, industry sources told the newswire, and culture and entertainment budgets were tightening before it.

… but investment events are staying on. The Future Investment Initiative goes ahead late this month, and organizers say other investor-focused gatherings are unaffected. For now, the savings are coming from entertainment while the economic calendar holds.

On track

Opec+ left the taps where they are: Opec+ held November output targets steady, pausing the run of monthly increases they had been making through 2026, according to a statement. The decision matched market expectations.

The quota matters less than usual. Gulf members are already pumping well under target as the war on Iran disrupts exports, which have run at 60-80% of normal in recent months. The seven countries produced 25 mn bbl / d in August, Opec data shows, still about 5 mn bbl / d below February, with Brent holding above USD 100.

Nothing big moves before 2027. The capacity review that sets members’ 2027 quotas is on hold until the war clears the uncertainty around future output, sources told Reuters. The next meeting is scheduled for 1 November.

Aramco cuts Arab Light crude price

Aramco cut its Arab Light crude price for Asian buyers for November by USD 3 from October, dropping USD 5 below the regional benchmark and its lowest level since June 2020, Reuters reports, citing a pricing document. This defied a Reuters survey that predicted a USD 3 / bbl hike in line with rising Middle East benchmarks.

ICYMI- Aramco cut October Arab Light prices for Asia by USD 0.5 for September, dropping USD 2 below the regional benchmark, marking the fifth-lowest price set by the Kingdom since 2000.

That’s not all: The company also lowered its prices for Northwest Europe by roughly USD 0.80 / bbl across grades and shaved USD 0.10 / bbl off prices for North America.

***

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The Gulf’s sovereign funds and largest companies are committing billions to AI infrastructure at home and to AI companies in the US and beyond. EnterpriseAM AI + Innovation reports on where that capital goes, who controls it and what it is actually buying. Every Tuesday and Thursday, we also cover the startups and established firms across MENA putting AI to work, and how it is changing jobs, education and the way business runs. It’s sharp, analytical and skeptical journalism that ignores hype and is laser-focused on informing our readers, not pleasing our sources. The newsletter launches Monday, 5 October, at the EnterpriseAM Egypt Forum's AI edition. Sign up here to be among the first to get it straight to your inbox.

The big story abroad

The US Air Force recalled its bombers from RAF Fairford in England following an investigation of a suspected terrorist plot targeting the air base, the Associated Press reports, citing an unnamed Pentagon official. The facility, which served as a launching pad for US strikes against Iran, saw all of its bombers redeployed to their home bases in the United States. British authorities have tied the incident to Iran, which has rejected any role in it.

Right-wing candidate Flávio Bolsonaro won the first round of Brazil’s presidential election, setting up a decisive runoff against incumbent President Luiz Inácio Lula da Silva on 25 October. Defying polls that showed him trailing, Bolsonaro’s first-round surge coincided with key Senate and gubernatorial victories for the country’s right wing.

French energy conglomerate Schneider Electric is close to finalizing its acquisition of US engineering software outfit PTC Inc for more than USD 20 bn. The transaction — which could be announced as soon as today — would be the company’s largest to date, following last month’s acquisition of Bulgaria’s Shelly Group.

Hiring becomes a resilience signal as firms split over supply-chain preparedness

Whether a GCC industrial firm is still hiring is one of the clearest tells of whether it planned for this year’s shipping-cost shock. Companies that built contingency plans after covid and the war in Ukraine kept recruiting through the latest disruption. Those that didn’t build plans froze headcount, and, instead of securing new supply, ran down the stock they already had, says Zeina Karrit, founder of Unicorn Talent GCC, a boutique executive-search firm specializing in the Gulf’s digital and industrial transformation. “Prepared companies saw the risk coming and kept hiring. Unprepared ones froze, then started reacting after the damage was done,” she tells EnterpriseAM.

Why it matters: Hiring has become a resilience signal in a sector where the disruption is still playing out. This isn’t the Gulf’s first supply-chain shock, and Karrit’s read is that the firms treating it as a recurring risk rather than a one-off are the ones still growing through it. She expects the gap between prepared and unprepared firms to widen through 4Q and into 1Q 2027, with the firms that fell back on existing inventory taking the heavier hit.

The perception that GCC hiring has stalled and firms are shedding staff doesn’t match what Karrit sees. Hospitality and real estate have felt the impact most directly, but across industrial, manufacturing, and supply-chain roles, hiring has largely continued.

In Saudi Arabia, a second squeeze is coming from compliance. “A green Nitaqat rating is no longer enough on its own,” Karrit says. “What increasingly counts is whether Saudi nationals hold real roles in the right functions, and whether those roles are registered accurately. A year ago the overall rating carried most of the weight; now regulators and clients are looking more closely at where Saudis actually sit in the organization.”

REMEMBER- The April Nitaqat Mutawar cycle made function-level quotas the binding constraint. That means a company can be green on its overall Saudization rate and still trigger a violation in a single department.

Competition for those nationals is fierce, and keeping them now takes more than pay. “A 5% raise or office perks won’t hold top talent with options across the Gulf. What increasingly does is long-term incentives, such as deferred bonuses, retention plans or equity where the company’s structure allows it,” she says.

Saudi cities now compete for that talent head-on. Candidates who once looked only at Dubai and Abu Dhabi now weigh Saudi Arabia, Qatar, and Oman too. She puts this down to Saudi Arabia’s social reforms since 2019, Riyadh’s build-out as a financial hub, and carriers like Riyadh Air drawing in global talent. She sees the Kingdom as a large market where demand for experienced talent still outstrips supply, and points to European firms in particular expanding there despite the current disruption.

What’s next: Karrit expects the divide to harden as AI adoption compounds the pressure. The firms that make it into the next phase are the ones with the vision, infrastructure, and talent to absorb the shifts at once, while the rest get cleared out.

Saudi builders adjust to longer lead times as shortages persist

Saudi construction projects are ordering materials earlier and increasingly turning to local suppliers as regional disruption continues to reshape supply chains, Mace Middle East and Africa CEO Christopher Seymour tells EnterpriseAM. While some of the initial pressure on costs and delivery times has eased, shortages remain for critical materials, including electrical cables.

Mace, a London-based project management consultancy, has a significant footprint across Saudi Arabia’s construction pipeline. It’s the delivery partner on Qiddiya, program manager for the Sports Ministry’s stadium development program, and is working on King Salman International Airport. Its Saudi portfolio also includes Rua Al Madinah, according to Seymour. The company’s international track record includes major event infrastructure, having worked as delivery partner for the London 2012 Olympics and, alongside Jacobs, as program manager for Expo 2020 Dubai.

The regional conflict disrupted established import routes earlier this year, pushing up logistics costs and extending delivery times. Materials that previously entered through Dammam were, in some cases, forced onto longer routes through the Red Sea and Jeddah, contributing to scarcity and higher costs. “There was definitely a supply chain shock. No doubt about it,” Seymour says.

Projects are adjusting: Contractors have responded by ordering critical materials earlier and allowing more time for them to arrive. That has helped projects absorb longer procurement periods without necessarily translating them into delays to overall delivery schedules.

At the same time, more materials are being sourced inside the Kingdom. Seymour says the shift toward local alternatives has become particularly noticeable over the past six months, reducing reliance on imports for some products and cutting associated transportation costs.

But bottlenecks remain: Seymour singles out electrical cables as an area where there is still “big scarcity,” a pressure already visible in material prices. Saudi Contractors Authority data show electrical cable prices rose as much as 26% y-o-y in July, with several commonly used sizes increasing by around 25%.

The financial impact varies significantly by project and its exposure to particular materials. “On one project you might see the cost impact north of 10%, on others, around 5%,” Seymour says, adding that it was difficult to generalize across the market.

The pressure is starting to ease: The combination of earlier procurement, longer planning horizons, and greater local sourcing has begun to reduce some of the pressure that followed the initial disruption. The apparent scarcity of some materials was easing, and the cost impact had also started to moderate. “I’m not saying it’s gone away, because it hasn’t. All I’m saying is it’s being moderated,” Seymour says.

Mace has expanded its team this year, although Seymour declined to disclose by how much. He described it as a positive year for growth despite the challenges, including a heightened focus on the safety and security of employees during the regional conflict.

What’s next: Mace expects event-led developments and projects capable of generating revenue to remain among the Kingdom’s priority investment areas, with Seymour also pointing to rail and energy as important sectors for the company.

Almarai revenue climbs 11% in 3Q as higher costs keep bottom line flat

Almarai’s net income edged up 1% y-o-y to SAR 617.8 mn in 3Q 2026, while revenue climbed 11% to SAR 6.19 bn, according to its earnings release (pdf). Sales growth was driven by higher poultry volumes from expansion projects, stronger dairy sales in Egypt, and “inorganic growth” from a water business acquisition it completed last year. A better revenue mix lifted the bottom line, though gains were offset by higher dairy feed shipping costs and increased distribution expenses due to rising energy costs. Over 9M 2026, net income slipped 0.3% y-o-y to SAR 1.99 bn, despite a 10% increase in revenue to SAR 18.2 bn.

Alramz’s Makkah project draws SAR 670 mn in off-plan reservations from 51 countries on launch day

Alramz Real Estate’s Masar Corner project in Makkah drew some SAR 670 mn in preliminary off-plan reservations on its launch day, according to a Tadawul notice and company announcement. Customers came from 51 countries, with Nigeria leading by number of reservations, followed by Indonesia, Pakistan, the US, and Turkey. The development comprises two towers with 541 residential, commercial, and service units, with handover expected in 2029.

Masar is among the first Makkah projects to test foreign appetite under the Kingdom’s new foreign ownership framework, and the countries at the top of the list track what Knight Frank told us was expected of the holy cities — demand from individual Muslim buyers abroad, driven by faith rather than yield.

REMEMBER- The Kingdom’s foreign ownership framework has been in force since January, and the government published the zones where non-Saudis can buy in June, with Masar on the Makkah list. In the holy cities, foreign individuals can only own property if they’re Muslim.

BACKGROUND- Alramz signed an SAR 418 mn development agreement with Ramz Al Hijaz Fund in February to develop the two towers on a combined 6k sqm plot in Makkah’s King Abdulaziz Road district. The fund is managed by Al Rajhi Capital, with Alramz set to receive an additional SAR 62.7 mn in development fees.

Sah rolls out its October round

The government’s retail sukuk program, Sah, opened its October round yesterday at a fixed annual rate of 5%, the National Debt Management Center said. Subscriptions run until tomorrow at 3 pm, with a minimum of SAR 1k per investor and a cap of SAR 200k.

MIS’ Humain pact starts paying out

Al Moammar Information Systems (MIS) has received the first work order under its SAR 8.8 bn agreement to design and build 250 MW worth of AI data centers for Humain, according to a Tadawul filing. The order covers the opening 50 MW tranche, which is worth more than 1.5 times MIS’ 2025 revenue on its own, with the financial impact booked from 2Q 2026. Humain will issue the rest of the EPC scope through sequential work orders, and MIS expects more as the project expands.

A SAR 9 bn+ power play

Rabigh 2 reaches financial close: Saudi Energy affiliate Al Morjan Two Electricity Co. secured SAR 9.69 bn in long-term financing from a consortium of local, regional, and international lenders to fund the Rabigh 2 power plant expansion project in Makkah province, according to a Tadawul filing. The financing carries a 34-year tenor, with Saudi Energy holding a 40% effective stake. The project expands the existing Rabigh 2 plant with a c. 2.3-GW combined-cycle gas unit designed to accommodate a carbon-capture unit in the future. Saudi Energy expects the project to start contributing to its financials in 2Q 2029.

Meet the lenders: The financing comes from 14 banks, four of them Saudi: Alinma, Riyad Bank, Saudi Awwal, and SNB. The other 10 comprise three Chinese banks (ICBC, China Minsheng, and Industrial Bank), Sumitomo Mitsui Trust, HSBC, Standard Chartered, ADCB, Commercial Bank of Dubai, Boubyan, and National Bank of Greece.

REMEMBER- Acwa, which also holds a 40% stake in the project, signed a SAR 11.5 bn, 31-year power purchase agreement for the expansion in April, with the Saudi Power Procurement Company as the offtaker. The contract covers the new plant and a 380 kV substation extension.

Dedicated to real estate

Abdullah Al Othaim Investment has set up a real estate development arm, Othaim Developments, Asharq Business reports, citing a company statement. The new firm plans to invest more than SAR 16 bn in about 10 projects across Saudi Arabia over the next two years, comprising 8k units. The projects will feature residential, hospitality, commercial, entertainment, and office components. The first will be The O Residence in Dammam, with expansion to other Saudi cities to follow.

Turkey pays out fund investors in the dark as asset sales await buyers

Turkey has started repaying investors in its collapsed funds without knowing what the assets behind them will sell for. Securities regulator SPK approved interim payments of up to TRY 1 mn (USD 20.4k) per investor in funds run by Tera, Pusula, Atlas, and Hedef, starting with money market funds. Anyone with less than TRY 1 mn of net investment gets it back in full. Everyone above that line gets TRY 1 mn now and waits for Isbank and state-owned Ziraat Bank, which are supervising the asset sales, to find buyers for portfolios full of thinly traded small-caps.

Ankara also wants investors who sold before the freeze to return their gains. The Savings Deposit Ins. Fund has opened accounts for investors who sold out before the freeze to voluntarily return their profits, according to Bloomberg. A coordination board chaired by Vice President Cevdet Yilmaz met for the second time on Friday to work through a payment timetable and changes to the capital markets law.

The liquidation covers 131 funds run by seven managers, with 455.8k investors and some USD 18 bn in assets by SPK’s count. Reuters puts the figure above USD 20 bn. The regulator has already doubled the wind-down period to six months to avoid forced selling. Many of the holdings are small-caps whose marked prices were set in a market the funds themselves dominated.

Tera Portfoy and Pusula Portfoy account for most of it. Tera’s assets rose more than tenfold to USD 14.3 bn over the year to August, and Pusula’s rose 13-fold to USD 13.2 bn, making them the sixth and eighth largest asset managers in Turkey and the biggest outside the banks, Reuters says. Tera’s TRY hedge fund, the largest being liquidated at USD 5 bn and 102.6k investors, had reported a cumulative TRY return above 15k%.

The regulator’s own rules set off the run. The SPK capped how much a fund could hold in a single company in late August; funds began selling to comply, and investors rushed to redeem, Turkish Minute reports. Pusula missed redemptions on 15 September, and the liquidation order came two days later. Finance Minister Mehmet Simsek had said publicly in November 2025 that manipulation was running through certain funds.

The damage has reached the wider economy: The main Istanbul index had its worst month since 2008 in September, and central bank reserves fell USD 4.3 bn to USD 174.4 bn in the week of the run, marking a fourth straight weekly drop. JPMorgan sees “meaningful downside risks” to its 3% growth forecast for Turkey this year, Reuters reports. The index closed 2.5% higher on Thursday after the stocks at the center of the probe were removed from it.

The criminal probe keeps widening. Courts jailed another 20 people over the weekend, bringing the total to 85 across the fund and related stock manipulation cases, among them Tera Chairman Emre Tezmen, Pusula Holding Chairman Serdar Turhan, and former central bank deputy governor Erkan Kilimci. Fatma Betul Sayan Kaya, a deputy chair of the ruling AKP, resigned from her positions in the party over allegations around stock trading that also involved her husband.

MARKETS THIS MORNING-

Asian markets opened in the green earlier today, with Japan’s Nikkei rising around 2.3% amid a rally in tech shares, while MSCI’s Asia Pacific equities index gained 0.5%. South Korean markets are closed for a holiday.

TASI	10,506	+1.1% (YTD: +0.1%)
MSCI Tadawul 30	1,417	+1.2% (YTD: +2.1%)
NomuC	21,249	+0.8% (YTD: -8.8%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	53,911	+1.6% (YTD: +28.9%)
ADX	9,973	-0.3% (YTD: -0.2%)
DFM	5,901	-0.5% (YTD: -2.4%)
S&P 500	7,723	+0.7% (YTD: +12.8%)
FTSE 100	10,462	+0.3% (YTD: +5.3%)
Euro Stoxx 50	6,239	+1.0% (YTD: +7.6%)
Brent crude	USD 102.25	-0.1%
Natural gas (Nymex)	USD 3.04	+2.3%
Gold	USD 4,162	-1.0%
BTC	USD 85,911	1.4% (YTD: -1.9%)
Sukuk/bond market index	889.08	+0.2% (YTD: -3.3%)
S&P MENA Bond & Sukuk	146.49	+0.3% (YTD: -3.6%)
VIX (Fear gauge)	15.31	-6.6% (YTD: +2.4%)

THE CLOSING BELL: TADAWUL-

The TASI rose 1.1% yesterday on turnover of SAR 2.3 bn. The index is up 0.1% YTD.

In the green: Raydan Food Company (+10%), Abdullah Saad Mohammed Abo Moati for Bookstores Company (+7.7%), and Armah Sports (+6.7%).

In the red: Saudi Enaya Cooperative Ins. (-3.9%), Saudi Aramco Base Oil (Luberef) (-2.6%), and Al Moammar Information Systems (-1.8%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.8% yesterday on turnover of SAR 16.7 mn. The index is down 8.8% YTD.

In the green: Advance International Company for Communication and Information Technology (+13.5%), Naf Company for Feed for Industry (+9.6%), and Marble Design (+9.3%).

In the red: Saudi Lime Industries (-9.1%), Alfakhera for Men’s Tailoring (-7.7%), and Riyal Investment and Development (-6.8%).

CORPORATE ACTIONS-

Saudi Investment Bank shareholders approved a 20% capital increase to SAR 15 bn from SAR 12.5 bn through a bonus share issuance, according to a Tadawul filing (pdf). The bank will issue 250 mn bonus shares (one for every five held), capitalizing SAR 1.5 bn from its statutory reserve and SAR 1 bn from retained earnings to fund the SAR 2.5 bn increase.

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

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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THIS MORNING: Yemen launches Saudi-backed offensive to retake Houthi territory

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Hiring becomes a resilience signal as firms split over supply-chain preparedness

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Saudi builders adjust to longer lead times as shortages persist

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Almarai revenue climbs 11% in 3Q as higher costs keep bottom line flat

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Alramz’s Makkah project draws SAR 670 mn in off-plan reservations from 51 countries on launch day

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Turkey pays out fund investors in the dark as asset sales await buyers

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The hiring tell

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Today at a glance

THIS MORNING: Yemen launches Saudi-backed offensive to retake Houthi territory

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This publication is proudly sponsored by

Hiring becomes a resilience signal as firms split over supply-chain preparedness

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Saudi builders adjust to longer lead times as shortages persist

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Almarai revenue climbs 11% in 3Q as higher costs keep bottom line flat

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Alramz’s Makkah project draws SAR 670 mn in off-plan reservations from 51 countries on launch day

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Turkey pays out fund investors in the dark as asset sales await buyers

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