Tons of sports news on an otherwise quiet morning

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WHAT WE’RE TRACKING TODAY

USD 3 bn injection by sports bn’aires could give PGA Tour a hedge against collapse of Liv deal

Good morning, wonderful people. It’s another reasonably quiet news day in the Kingdom, though we expect the two-day lull to come to an end after the weekly cabinet meeting and as at least a couple of significant transactions brewing on Planet Finance wrap up in the coming week or so.

It’s not just a Saudi thing: Newsflow is quiet globally, too, as market watchers keep an eye on Chinese shares and everybody waits for the results tomorrow of the two-day meeting of the US Federal Reserve’s open market committee. Economists forecast that the Fed will leave rates at their current 22-year high of 5.25-5.5%.

Business leaders and economists alike are looking to the release at 4pm KSA of the IMF’s World Economic Outlook.

Against that backdrop, we kick off this morning’s issue with a pile of sports news — though we’re not sure anybody here cares anywhere near as much about the PGA-Liv lashup as do the Americans…

WATCH THIS SPACE #1- There are signs that the PGA Tour is hedging against the potential collapse of its tie-up with PIF-backed Liv Golf and the European Tour.The twist in the plot, which has captured the imagination of golf fans on both sides of the Atlantic, comes after a group of US sports bn’aires operating as Strategic Sports Group appear on the verge of buying a minority stake in PGA in a USD 3 bn transaction, Bloomberg and the Wall Street Journal report.

“News of a major US infusion of cash seem to further dim the prospects” of PGA agreeing to merger terms with Liv, suggesting the “rift” that has “divided” the sport will continue, the Journal writes.

WATCH THIS SPACE #2- Fellow tennis fans, rejoice: We’re still in the running to host the women’s finals. The WTA finals could still move to Saudi Arabia. Word of the possible relocation here percolated to the surface last month before petering out. A handful of activists in the industry are pushing back against a move to Saudi, but others including world #2 Aryna Sabalenka are pushing for the move. Sabalenka had an “amazing experience” playing in Riyadh late last year, she told Reuters.

Saudi is already emerging as a tennis powerhouse with a five-year agreement to host the men’s NextGen finals (think of it as the development league for the men’s ATP tour) and with the recent naming of Radel Nadal as an ambassador for the Saudi Tennis Federation.

SPORTS-

#1- Al Hilal beat Inter Miami 4-3 in a seven-goal thriller yesterday in the Riyadh Season Cup at the Kingdom Arena Stadium after Malcom’s header in minute 88 stopped a comeback by Lionel Messi’s men, who had brought the game back from a two-goal deficit after being 3-1 down.

All eyes on Thursday: Football GOATs and rivals Messi and Cristiano Ronaldo will share the same pitch on Thursday when Inter Miami meets Al Nassr.

#2- The Green Falcons will face South Korea today in an Asian Cup Round of 16 knockout match at 6pm KSA. Host country and defending champ Qatar advanced to the quarterfinals yesterday after beating Palestine 2-1, joining Jordan, which stunned Iraq after it scored twice in stoppage time to win 3-2.

No fear, only respect to the Green Falcons, says South Korea’s coach:Juergen Klinsmann said he does not fear the Saudi national team, but has a lot of respect for Roberto Mancini’s side. “I don't fear anybody. No fear, but a lot of respect for every opponent,” he told reporters in the pre-match press conference yesterday (watch, runtime: 27:08). Korea has failed to beat the Falcons in their three previous encounters.

HAPPENING TODAY-

Kuwait’s new emir, Sheikh Meshal Al Ahmad Al Sabah, will land in town today for a state visit, Kuwait News Agency KUNA reported yesterday. It’s Sheikh Meshal’s first trip abroad since he was named emir last month.The new emir is looking to preserve key foreign relationships, including good ties with Riyadh.

WEATHER- Expect a mostly cloudy day in Riyadh, Jeddah, and Dammam.

Riyadh: 26°C daytime / 13°C overnight
Jeddah: 27°C daytime / 18°C overnight
Dammam: 24°C daytime / 14°C overnight

DATA POINTS-

#1- Saudia was the MENA region’s top carrier in reserved seats for January, data by UK-based global travel data provider OAG showed yesterday. The national flag carrier had 14.1k reserved seats this month, followed by Qatar Airways with 10.7k seats. The Cairo-Jeddah route was the busiest international airline route in the region and the second busiest globally in January.

#2- A trans-fat free Kingdom: The Saudi Food and Drug Authority (SFDA) was recognized by WHO for its efforts in eliminating trans fat in a ceremony in Vienna yesterday, it said in a statement yesterday. The recognition comes a month after the SFDA obtained a WHO “validation Certificate” for trans fat elimination. The Kingdom is among the first five countries to obtain the certificate after Denmark, Lithuania, Poland and Thailand.

WATCH THIS SPACE-

#1- Jeddah’s historic Al Balad district is getting new hotels as part of a makeover:Heritage-focused master developer Al Balad Development Company launched Al Balad Hospitality Collection in Jeddah’s historical district of Al Balad, it said on X yesterday. The launch is part of a bid to turn the area into a global culture and tourism attraction. The plan sees Al Balad operating hotels in the district under its brand Al Balad Hospitality. The company is a wholly-owned unit of the Public Investment Fund.

The master plan for the area envisions the delivery of 9.3k residential units, 1.8k hotel rooms, and some 1.3 mn square meters of commercial and office space.

#2- An automatic surveillance system monitoring trucks and buses on the roads is coming in April: The Transport General Authority (TGA) will roll out an automated system to monitor the safety of trucks and buses on the nation’s roads, the authority said on X yesterday. The system will watch for road violations as well as expired operating cards and other breaches of regulations. Cargo transport, international bus services, as well as truck and bus rentals fall under the scope of the system, which comes into effect on 21 April.

BACKGROUND- Taxis have been monitored since 2022 using a similar system, and passenger and school buses fell under the monitoring regime last year.

#3- Bahrain-based Ebdaa Microfinance plans to expand its operations to the Eastern Province after securing the necessary regulatory approvals here and in Manama, it said in a press release yesterday. “Ebdaa envisions further expansion across the entire Kingdom following the initiation of operations in the Eastern Province,” said the company’s CEO, Khaled Al Gazawi. Ebdaa has yet to provide more detail about the expansion.

HAPPENING TOMORROW-

Albilad Capital’s MSCI Saudi Growth ETF will start trading tomorrow on the main market Tadawul. It attracted subscriptions worth SAR 19 mn during its initial offering. Albilad got the CMA nod for the exchange-traded fund last October.

OIL WATCH-

OPEC+ oil cuts aren’t impacting crude markets — yet: Steady oil exports by OPEC+ members in January suggest that voluntary output cuts are taking time to kick in, Bloomberg reported, citing data from Vienna-based market intelligence firm Kpler. Opec is expected to hold a ministerial-level monitoring meeting early in February.

THE BIG STORY ABROAD-

It’s a quiet morning abroad, with no single story capturing the collective imagination of the global business press.

Every major outlet is watching how Washington will respond to a drone attack on a US base in Jordan that killed three. The consensus is that the White House is looking for something that’s tough enough to send a message, but not so tough as to ratchet tensions even higher. Officials in Washington have been careful to stress they don’t want war with Iran.

Tehran is trying to put distance between itself and the attack, which reports say was carried out by one of the many armed groups it backs.

Want to go deeper? Politico | Financial Times | New York Times | Reuters

Three business stories worth knowing about this morning:

Energy: A London hedge fund is trying to force BP to back away from its clean energy pledges. (Financial Times)
IPO watch: Renault has canceled the IPO of Ampere, its EV business, thanks to what it said were poor market conditions. (Reuters)
In the bulge bracket: Jim Esposito, a top Goldman Sachs banker who has led its IB and markets group and aspired to be CEO, is leaving the bank after a more than 30-year run. You can read his note to staff on his departure here. (Wall Street Journal)

AND IN TECH NEWS- Big AI developers are now required to share safety test results with the US government, as the Biden administration seeks to try to regulate and monitor the rapidly evolving technology. (Associated Press)

SIGN OF THE TIMES- Consulting and assurance outfit EY really, really wants its people back in the office and is now using data from staff IDs used to swipe into work to track attendance.

Need a two-minute break? Go watch this cringe-inducing get-back-to-the-office NOW video from WebMD. Doesn’t matter whether you’re Team Office or Team WFH, there’s enough here to make you wince.

CIRCLE YOUR CALENDAR-

The Saudi International Marine Exhibition (SIMEC Expo) will kick off in Riyadh on Sunday, 4 February and wrap up Tuesday, 6 February. The event will bring together key stakeholders and decision makers to discuss activities related to marine fisheries and the aquaculture sector.

The PIF Private Sector Forum takes place in Riyadh on Tuesday, 6 February to Wednesday, 7 February, the PIF said on Linkedin. The event will bring together the fund, portfolio companies, private sector and others to help advance economic growth.

The Hail Toyota International Rally which will kick off on 8 February and wrap up on 10 February.

Filipino exporters are coming to town next month: A business-matching tour will kick off on Saturday, 10 February, where a group of Filipino exporters of food, beverage and personal care products will tour Riyadh, Jeddah, and Dammam to market their businesses, Arab News reports.

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

Riyadh will host the International Conference on Sand and Dust Storms in the ArabianPeninsulafrom Monday, 4 March to Wednesday, 6 March. The conference will address regional challenges caused by sand and dust storms and discuss monitoring systems, mitigation strategies, economic and infrastructural impacts, and more.

Tickets are on sale for the 2024 Saudi Arabian Grand Prix, scheduled for Jeddah from 7-9 March.

Riyadh will host a World Economic Forum special meeting on 28-29 April.

The Kingdom has submitted a bid to host the World Water Forum in Riyadh in 2027, SPA reported. The event is the largest international gathering in the industry.

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

Saudi Arabia will become the region’s fintech powerhouse in the coming years, says Outward Co-Head

Saudi Arabia will emerge as a regional fintech powerhouse over the next five to ten years, said Outward VC Co-Head and General Partner Devon Kohli in an interview with Al Arabiya (watch: runtime: 3:55), citing regulatory reforms, smart government incentives, and solid tech infrastructure. “The whole sector has moved at a very fast pace in the last few years. Saudi Arabia is now at the cutting edge of that. You’re seeing investments, regulatory change … and an incentivization system from the government,” he said.

Building a new system > legacy system: “You’re not adding into legacy platforms, you’re building brand new platforms. So it is much easier to disrupt and change when you’re building from scratch than when you’re having to integrate and uphill existing systems,” he said.

IN CONTEXT- London-based Outward is one of 30 high-profile UK venture capital firms and fintech outfits that are here to to drum up investment and business opportunities.Executives from Wise and Anthemis are also in Riyadh on a three-day visit to meet up with representatives Saudi Arabian Monetary Authority and Public Investment Fund int he hope of luring capital to British startups. The visit, organized by the Saudi-British Joint Business Council, wraps up tomorrow.

A two-way street: “What we’re aiming to achieve out of the trip are combined synergies in our profile companies moving into there or some of their companies looking to move to the UK and an exchange of capital as well…,” Kohli said.

Saudi investment could be a lifeline for some British fintech startups. Investment in the UK sector plunged 65% y-o-y in 2023 to USD 5.1 bn, according to a report by Innovate Finance. The drop, which is also seen on a global scale, comes on the back of spiking interest rates, higher inflation, and lower valuations in the markets.

It’s a totally different story in Saudi, where investment is still flowing. BNPL startup Tamara clenched in December a USD 1 bn valuation in its latest equity funding round, becoming the Kingdom’s first homegrown fintech unicorn. Riyadh-based fintech unicorn Tabby also landed unicorn status recently after its series D round valued it at over USD 1.5 bn. Foodics, which plays up its fintech credentials, is hoping to hit a USD 1 bn valuation this year.

The local fintech sector had a good run last year, growing by 40% y-o-y to 207 companies by the end of November, SAMA chief Ayman Al-Sayari said last month.

More to come? SAMA and the Capital Market Authority (CMA) launched in December a new fintech program dubbed Makken they hope will accelerate the growth in the industry across the Kingdom. The program aims to speed the growth of some 150 emerging fintech companies over the next three years. Few details of the program have been made public.

Edtech startup iStoria raises USD 1.3 mn seed round for app upgrade, expansion

iStoria raises big funds for upgrades, expansion: Homegrown English teaching edtech platform iStoria secured USD 1.3 mn (SAR 5 mn) in a seed fundinground, it said in a statement yesterday. The round was led by local and regional investors, including our friends at Flat6Labs as well as Nama Ventures, Classera, and BIM ventures. Angel investors also participated in the round.

Where the funds are going: iStoria will use the capital injection to enhance its mobile application (App Store, Google Play), drive product innovation, and expand its reach to users globally, according to the statement.

iStoria is smart: Their pitch was one of the highlights of Flat6’s second Riyadh demo day last Monday.

About the app: Founded in 2020, iStoria has a partnership with Oxford to teach English through graded-reader stories modified for all levels rather than traditional ways. This approach allows learners to master vocabulary easier, according to iStoria. It has reached 1 mn users, it said last month.

iStoria is no stranger to Nama Ventures, which led a pre-seed funding round in 2022 that saw the edtech platform raising an undisclosed amount.

What they said: “Through this funding, we will continue our mission to empower individuals to communicate effectively and boost their confidence in using the English language. We are optimistic and eagerly anticipate the next phase of our journey. Our growth and impact will primarily come from serving organizations and expanding our global presence,” iStoria’s Founder and CEO Abdullah Al Jabri said.

AlUla 2024 Tour kicks off today. Here’s the route — and how to watch.

Stage one of the AlUla 2024 cycling tour kicks off today at 12:45pm KSA, featuring competitors cycling along a 149 km route starting and ending at Al Manshiyah Train Station. This is the reinvented fourth edition of the Saudi Tour, featuring 119 cyclists from 18 men’s teams. The five-stage tour is part of the International Cycling Union’s Asia Tour and AlUla Moments sporting season.

Serves AlUla’s tourism + sports aspirations: See the race in context of AlUla’s push to establish itself as a top global tourism and cycling destination. AlUla holds the official naming rights partnership with Australia’s premier UCI WorldTour Team, Jayco AlUla.

Where to watch the event: You can either cheer your favorite riders from the roadside or watch the live stream here.

PSA- The road past Elephant Rock and through Sharaan Nature will be closed today from 11:10am to 12:45pm, while the road from to and from UNIESCO World Heritage site Hegra will be closed from 2:45pm to 4:40pm.

Stage 2 will kick off tomorrow at 11:25am, with cyclists starting the 199 km ride from Winter Park and ending at Sharaan Nature Reserve.

Stage 3 will kick off on Thursday, 1 February, at 12:10pm, with cyclists starting the 170.6 km ride from AlUla International Airport and ending at Camel Cup Track.

Stage 4 will kick off on Friday, 2 February, at 13:25pm, with cyclists starting the 142 km ride from Hegra and ending at Maraya.

The last stage will kick off on Saturday, 3 February, at 12:35pm, with cyclists starting the 150 km ride from AlUla Old Town and ending at Skyviews of Harrat Uwayrid.

Canadian Medical Center has a new CEO

Canadian Medical Center has appointed Mohamed Yanouri (LinkedIn) as its new CEO, following the resignation of Hasan Joudah (LinkedIn), it said in a Tadawul regulatory filing yesterday. Yanouri boasts more than two decades of experience in the industry. He has recently held roles at Medical Rescue, AMI Healthcare, Al Hokail Medical Group, and Saad Specialist.

Arrest of Royal Commission for AlUla chief continues to drive the conversation

The arrest of Royal Commission for AlUla head Amr Al Madani on corruptioncharges continued to drive the conversation on Saudi in the foreign press yesterday, with coverage from Reuters | Bloomberg | The Associated Press. Meanwhile, relaxed alcohol rules for non-Muslim diplomats is sparking speculation among expats on whether the rules could be loosened up further, Bloomberg reports.

Kaust joins forces with amplifAI health for early diabetes detection. PLUS: manufacturing, AI, cement and real estate

HEALTHTECH-

#1- Kaust + amplifAI health partner up for early diabetes detection: The King Abdullah University of Science and Technology (Kaust) signed a MoU with local healthtech startup amplifAI health to develop a new early diabetes detection system, a statement by Kaust read yesterday.

Saving costs: “This effort could save Saudi Arabia more than SAR 2 bn annually in medical costs and reduce 1.5 mn foot amputations worldwide every year, profoundly improving the quality of life of millions of people,” Kaust professor and HyplexTM developer Andrea Fratalocchi said.

By the numbers: Nearly 20% of the Kingdom’s population is diabetic, according to the statement, which cites data from the IDF Diabetes Atlas. The kingdom ranks second-highest in the region and is the seventh globally in diabetes rate, according to the World Health Organization.

#2- Horizon Health Medical will offer medical consultation and prescription services to patients over the phone after landing a license from the Ministry of Health, parent company Bupa Arabia said in a Tadawul filing yesterday. The license is valid for five years.

CEMENT-

Umm Al Qura Cement expects its feedstock cost to increase 11% on the recent fuel price hikes introduced by Aramco, it said in a statement to Tadawul. This is significantly higher than the cost increase penciled in by petrochemicals giant Sabic at 1.7%, Yanbu National Petrochemical (2.8%), and Sabic Agri-Nutrients (3.8%).

Background:Aramco notified industrial and petrochemical companies earlier this month that it is raising the price of diesel 53% to SAR 1.15 per liter this year from SAR 0.75 last year. The impact will be felt much more by energy-intensive industries such as cement than by consumer brands, which tend to have much lower energy needs.

MANUFACTURING-

Saudi Ceramics has pushed back the opening of its porcelain plant to 2Q 2024 from 1Q 2024, it said in a disclosure to Tadawul. The rescheduling was attributed to delays in regulatory procedures, construction, and in the deliveries of machinery.

ARTIFICIAL INTELLIGENCE-

US-based customer experience platform Genesys opened its first office in Riyadh, it said in a press release last week. The company’s revenues from its business in the Kingdom have almost doubled with a 90% y-o-y increase the third quarter of its fiscal year.

REAL ESTATE-

Facility management firm Musanadah will be using a computer-aided facility management platform (CaFM) provided by US-based real estate operator Facilioto better manage its operations, according to a joint press release yesterday. The cloud-powered platform fromf the US-based company “will help our [Musanadah] technicians and service staff to deliver world-class IFM [integrated facility management] services across multi-site portfolios,” said Vijayshankar Kavasseri, operations director at Musanadah.

INS-

Al Etihad X SNB: Al Etihad Cooperative will be providing ins. coverage services for leased cars to individual clients of the Saudi National Bank (SNB) under a one-year agreement with the lender, according to a disclosure to Tadawul yesterday. The financial impact of the agreement is expected to exceed 5% of the ins. company’s gross written premiums of 2022.

ENERGY-

Energy Minister, Kenyan counterpart mull energy cooperation: Energy Minister Prince Abdelaziz bin Salman discussed with his Kenyan counterpart Davis Chirchir chances of cooperation in petroleum and its supplies, renewable energy, energy efficiency, and an exchange of expertise in the sector, state news agency SPA reported yesterday.

Hong Kong court calls for the liquidation of Evergrande

China’s Evergrande ordered to liquidate: A Hong Kong court ordered the liquidation of China’s second largest property developer China Evergrande Group, with more than USD 300 bn in liabilities, after the group failed to restructure following offshore debt defaults and more than two years in court. (Reuters | Bloomberg | FT)

It remains unclear what will happen next: The legal reach of Hong Kong’s ruling will be tested as most of Evergrande’s assets lie in mainland China, making them harder for liquidators to seize. “The liquidators will have very limited powers of enforcement over onshore assets in mainland China if they cannot get such recognition,” global law firm Ashurst’s Lance Jiang told Bloomberg.

China’s property market is in pretty rough shape after the country’s largest real estate developer Country Garden defaulted on a USD 15.4 mn bond payment in October.

Market reax: The Hong Kong Exchange halted trading in shares of Evergrande and its subsidiaries China Evergrande New Energy Vehicle Group and Evergrande Property Services.

Dive deeper: Bloomberg is out with a piece looking into the company’s history and China’s struggling property sector.

TASI	12,252.81	-0.1% (YTD: +2.4%)
MSCI Tadawul 30	1,596.25	-0.1% (YTD: +2.9%)
USD : SAR (SAMA)	3.75 Sell	3.75 Buy
Interest rates	6% repo	5.5% reverse repo
EGX30	29,227.79	+2.1% (YTD: +17.4%)
ADX	9,550.74	-0.2% (YTD: -0.3%)
DFM	4,170.59	+0.2% (YTD: +2.73%)
S&P 500	4,927.93	+0.8% (YTD: +3.3%)
FTSE 100	7,632.74	-0.03% (YTD: -1.3%)
Euro Stoxx 50	4,639.36	+0.1% (YTD: +2.6%)
Brent crude	82.41	-1.4%
Natural gas (Nymex)	2.49	-8.2%
Gold	2,044.60	+0.4%
BTC	43,155.05	+3.3% (YTD: +87%)

CLOSING BELL-

The TASI fell 0.1% yesterday on turnover of SAR 8.3 bn. The index is up 2.4% YTD.

In the green: AlJazira Reit (+9.9%), AlBaha (+7.1%) and Saudi Electricity (+6.5%).

In the red: Spimaco (-3.8%), Liva (-3.6%) and Ataa (-3.5%).

OPENING BELL-

Asian markets are largely in the green this morning in early trading, but shares in Hong Kong slid 2.5% at the opening bell as investors digested the liquidation of Evergrande, changes to make it more difficult to short some stocks, and the failure of Beijing to deliver a bailout package some had expected last week.

Looking to Europe: You can expect major indexes to open in the green, but the picture is mixed in New York. Futures suggest the S&P will come under pressure at the opening bell after hitting another record high, while the Nasdaq will be in the green.

CORPORATE ACTIONS-

Ataa Educational’s shares went ex-dividend yesterday for the fiscal year that ended in July 2023, Argaam reported yesterday. Education services provider approved earlier this month a dividend of SAR 1.1 per share for the year.

Foreign Ministry urges donors to continue supporting UNRWA after Israeli allegations

Keep UNRWA support, Foreign Ministry urges: The Foreign Ministry called on donor countries to the UN Palestinian refugee agency (UNRWA) to continue supporting the agency after allegations by Israel that some of the agency’s employees took part in October 7 attacks, it said in a statement yesterday. "The Kingdom urges all supporters of UNRWA to carry out their role in supporting the humanitarian tasks toward Palestinian refugees in the besieged Gaza Strip…,” it said. It added that review and investigation procedures into the allegations should result in “facts coupled with evidence.”

BACKGROUND- Major donors to UNRWA, including the United States, UK, France, Germany and others, suspended funding on allegations that 12 of the agency’s 13k Palestinian employees were involved in October 7 attacks.

The Kingdom was one of UNRWA’s top donors in 2022: Saudi Arabia provided USD 27 mn to UNRWA in 2022 and made a contribution of USD 2 mn to the relief agency a week after the war broke out in Gaza.

ALSO FROM MOFA- The Foreign Ministry condemned “in the strongest possible terms” an attack by Iran-backed fighters that killed three members of the US military and wounded others in a drone attack on an American outpost in Jordan, it said in a statement yesterday.

NATIONAL SECURITY-

Saudi and Indian troops are running their first-ever joint military exercises through 10 February in Rajasthan, the Times of India reports. Video coverage: Hindustan Times (watch, runtime: 3:28).

CALENDAR

JANUARY

28-31 January (Sunday-Wednesday): Saudi Franchise Expo 2024, Jeddah.

28-31 January (Sunday-Wednesday): BiznEX, the Riyadh International Convention and Exhibition Center, Riyadh.

30 January-3 February (Tuesday-Saturday): Alula 2024 Tour.

FEBRUARY

4-6 February (Sunday-Tuesday): SIMEC International Expo, Riyadh.

5-7 February (Monday-Wednesday): Saudi HORECA 2024, Jeddah.

8 February (Thursday): end of Tuwaiq International Sculpture Symposium, Riyadh.

8-10 February (Thursday-Sunday): Hail Toyota International Rally.

10-14 February (Saturday-Wednesday): Filipino exporters will be in town for a business-matching tour.

9 February- 23 March (Friday-Saturday): Desert X ALUla.

10 February (Saturday): Last day to apply for permits to lease properties to pilgrims during Hajj season.

11- 12 February (Sunday-Monday): The Space Debris Conference, Securing the Future Growth of the Global Space Economy, Riyadh.

12-14 February (Monday-Wednesday): The International Petroleum Technology Conference (IPTC), Riyadh.

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

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

22 February (Thursday): Founding Day (national holiday)

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

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

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

MARCH

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

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

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

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

Signposted to happen sometime in March:

Ramadan

APRIL

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

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

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

Signposted to happen sometime in April:

Eid Al-Fitr (national holiday)

MAY

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

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

Signposted to happen sometime in May:

Global Trade Review (GTR): KSA
Saudi Energy Convention

JUNE

5 June (Wednesday): World Environment Day.

Signposted to happen sometime in June:

Eid Al-Adha (national holiday)

AUGUST

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

SEPTEMBER

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

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

DECEMBER

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

Signposted to happen sometime in 2024:

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