Washington is lifting its weapons sale ban

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Washington rolling back weapons sale ban + Agthia plans Saudi expansion

Good morning, ladies and gentlemen. We’re kicking off this week without a large volume of news, but the news we do have is rather significant. Leading this morning’s news well is reports that Washington is lifting its three-year ban on weapons sales to the Kingdom, meaning sales could resume as early as next week.

WEATHER- Riyadh will see a high of 45°C and a low of 30°C today, while Jeddah could see more rain with a high of 38°C, and a low of 32°C.

PSAs-

#1- Applications are now open for the second phase of the CIT Ministry’s Source Tech initiative, which is designed to support outsourcing companies, and freelancers, the ministry said on X. Eligible companies will have access to training programs, while their employees will have financial support of up to SAR 100k each across a period of 24 months as long as their contract is still valid. Companies can submit their applications here.

The initiative’s first phase saw more than 15 centers launched across six regions in the Kingdom, providing outsourcing and tech services. These centers can also be used as headquarters for companies that get accepted, according to the ministry’s website.

#2- Proposed exec regs for off-plan sale + lease law: The Real Estate General Authority’s proposed executive regulations for the Off-Plan Sale and Lease Law are up for public consultation on Istitlaa until Friday, 23 August. The regulations include, among other things, penalties for violating the law, including fines up to SAR 500k, removal from the developers' registry, revoked approvals, and activity bans.

#3- Clamping down on corruption in gov’t contracts: The General Authority for Competition handed down fines worth a total of SAR 77 mn to six contracting companies a total of SAR 77 mn on charges of collusion in government bids and tenders, it said in a statement.

#4- Some 12 investment projects are up for grabs in the Northern Borders Municipality, including a medical center, gas stations, and commercial spaces, Mubasher reports. Investors have until Wednesday, 11 September, to submit their bids for the tenders on the Furas platform.

WATCH THIS SPACE-

#1- Agthia has earmarked AED 30-40 mn to expand its footprint in the Kingdom, the company’s Snacking and Government Relations President Mubarak Al Mansouri told Mubasher. The ADX-listed company is set to use the funds to expand its distribution network in Saudi next year. Agthia launched a SAR 92 mn protein manufacturing facility in Jeddah last month, with a production capacity of up to 9k tons of manufactured protein over 9k sqm and export to more than 25 countries.

!_InserLine_!

#2- Aramco expects to reach financial close on its planned stake purchase in EIG’s LNG unit MidOcean Energy this quarter, Argaam quotes Aramco CEO Amin Nasser as saying in an investors’ call. The oil giant agreed in September 2023 to acquire a USD 500 mn minority stake in MidOcean Energy.

International expansion in the cards: The company will announce more investments in China this year or next, Nasser said without elaboration. South Korea and India are on the company’s radar for potential investments, with expectations for potential tenders from Tokyo and Seoul, Nasser said, without providing further details.

What’s next? Aramco plans to increase its drilling rigs to 300 by the end of this year, and ramp up its gas operations by over 60% by 2030.

!_InserLine_!

#3- The local electric car market is expected to grow 6% annually until 2030, Aleqtisadiah quotes Lucid Group COO Mark Winterhoff as saying. EV sales in the Kingdom are projected to reach between 210k-250k by that year, and is in line with the government’s target to produce 500k vehicles per year with USD 50 bn in investments. The broader Middle East electric car market is forecasted to expand to USD 8 bn by 2028, up from its current USD 2.7 bn.

DATA POINTS-

#1- Remittances from expats living in the Kingdom rose 11.3% y-o-y to USD 3.2 bn in June, Arab News reports, citing Saudi Central Bank figures. Meanwhile, remittances by Saudi nationals to other countries were down 1% y-o-y to SAR 5.1bn.

#2- Cargo handled at Mawani’s ports increased 9.1% y-o-y in July to 27.4 mn tons, the Saudi Ports Authority (Mawani) said in a statement. The number of import containers grew 15.7% y-o-y to 271.5k containers, while export containers declined 2.5% to 243.8k. Meanwhile, maritime traffic dropped 11.2% y-o-y last month, and the number of passengers dropped 32%, to 52.2k.

#3- The entertainment industry is booming: The General Entertainment Authority (GEA) issued 7.3% more licenses y-o-y to 1.5k in 2Q 2024, it said in a statement. Entertainment events saw a 130% y-o-y increase in the number of visitors to 16 mn.

#4- We have enough dates to cover local demand and then some: Saudi’s date production is sufficient to cover 124% of local demand, with production exceeding 1.6 mn tons, according to state news agency SPA.

REMEMBER- Date farmers, sellers, marketers, and buyers are now required to use a centralized platform for trading after the National Center for Palms and Dates launched a seasonal markets system.

SPORTS-

Tottenham’s Richarlison de Andrade will not be joining the Saudi Pro League this summer, despite receiving a lucrative offer, the Athletic reports.

WHISPERS- FC Barcelona winger Raphinha has reportedly received an offer from Al Nassr worth EUR 100 mn which is triple his current salary, Barca universal reported. However, FCBN reports that the actual offer is about EUR 65 mn. Despite the offer, Raphinha has reaffirmed that he is not interested in leaving Barcelona.

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THE BIG STORY ABROAD-

It’s another day of no single story leading the conversation in the international business press, leaving us with a patchwork of headlines to sift through this morning:

Donald Trump’s campaign said it was hacked yesterday, after Politico began receiving authentic internal communication documents late last month. The breach came from “foreign sources hostile to the United States, intended to interfere with the 2024 election and sow chaos throughout our Democratic process,” a Trump campaign spokesperson said, pointing a finger of blame at Iran. (Reuters | CNBC | Wall Street Journal)

US junk loan funds faced their largest withdrawals since early 2020 amid recent market declines, with USD 2.5 bn pulled out in a week due to concerns over a potential economic slowdown. Most of these withdrawals came from ETFs, the Financial Times writes.

Israel killed nearly 100 Palestinians when it launched an airstrike on a school compound that was used as a shelter for displaced children and women early on Saturday morning. The attack — which came as the victims were gathering for Fajr prayers — has so far claimed the lives of more than 93 Palestinians, including 11 children and six women, according to Palestine’s civil defense spokesperson. (Reuters | Washington Post | CNN | Washington Post | Guardian)

Calls for resumed ceasefire talks: The leaders of Egypt, the US, and Qatar called for an urgent meeting this Thursday, 15 August, in Doha or Cairo to resume ceasefire negotiations. “There is no further time to waste nor excuses from any party for further delay. It is time to release the hostages, begin the ceasefire, and implement this agreement,” they said in a joint statement. The European Union also released a statement supporting the call. (The Guardian | ABC | CBS | FT | Reuters).

The Saudi Foreign Affairs Ministry condemned the attack “in the strongest terms” and reiterated the necessity of putting an end to the “unprecedented humanitarian crisis” the Palestinian people are facing due to Israel’s ongoing aggression.

ELSEWHERE- Susan Wojcicki, former CEO of YoTube, died on Friday at the age of 56 due to lung cancer. (Financial Times | Wall Street Journal)

OLYMPICS-

It was another eventful weekend at the 2024 Paris Olympics, especially for our part of the world with Egypt and Algeria securing two golds.

Ahmed El Gendy secured Egypt’s first gold in Paris in the Modern Pentathlon, setting a new Olympic world record with 1.5k points.
Algerian boxer Imane Khelif got herself a gold medal after beating China’s Yang Liu in the women’s welterweight finals.

Spain beat the hosts to take gold for men’s football: The Spanish men’s Olympic football team emerged on top of an 8-goal thriller against France to take the spoils, finishing the match 5-3. Morocco took home the bronze medal after thrashing Egypt 6-0.

Germany and Denmark are set to meet in the men’s handball final, after dispatching Spain and Slovenia.

The medal table:

China (39 gold, 90 overall)
USA (38 gold, 122 overall)
Australia (18 gold, 50 overall)
Japan (18 gold, 43 overall)
France (16 gold, 62 overall)

Want to see when your favorite sport is on? Check out the official schedule here.

CIRCLE YOUR CALENDAR-

Cybersecurity training event SANS Riyadh Cyber Leaders August 2024 will run from Sunday, 18 August to Thursday, 22 August at the Hyatt Regency Riyadh Olaya.

The New Global Sport Conference 2024 is happening on Saturday and Sunday, 24-25 August, bringing together top figures from sports, esports, gaming, entertainment, and technology. This year’s theme is the Future of Fandom, highlighting fans’ role in building brand equity and revenue.

The eight-week Esports World Cup runs until Sunday, 25 August Riyadh’s Boulevard City. The world’s top esports clubs are competing for a pool of USD 60 mn — the largest purse in esports.

Washington could soon lift its ban on the sale of offensive weapons to Riyadh

US President Joe Biden has given the greenlight to lift a ban on the sale of precision-guided munitions and other weapons to Saudi, reversing a three-year policy engineered to end Saudi’s conflict with the Houthis in Yemen, Reuters reports, quoting unnamed senior US officials. Bloomberg also later had the story.

What gives? "The Saudis have met their end of the [bargain], and we are prepared to meet ours," a senior Biden administration official said. "We also note the positive steps that the Saudi Ministry of Defense has taken over the past three years to substantially improve their civilian harm mitigation processes, in part thanks to the work of US trainers and advisors," the official source added.

The decision means that previously off-limits air-to-ground munitions will once again be sold to the Kingdom, an anonymous State Department official told the newswire. “We will consider new transfers on a typical case-by-case basis consistent with the Conventional Arms Transfer Policy,” the source added.

The caveat: While sales might start up again as soon as next week, implementation of the decision will still have to be reviewed by Congress before it can go into effect.

REMEMBER- A US defense pact — part of a wider series of agreements on advanced technology and nuclear energy — is in limbo now the further we push into the US presidential election campaign.

ASG Plastic Factory gears up to ring the bell on Nomu

ASG Plastic Factory has priced its IPO on Nomu at the top of its indicative price range, with shares set to start trading at SAR 44 per share, according to a disclosure to Tadawul. The pricing means ASG is set to raise some SAR 33 mn from its sale of a 10.6% stake on Tadawul’s parallel market. The plastic manufacturer wrapped up its offering on Thursday with a 3.2x oversubscription rate.

Use of proceeds: ASG plans to use the proceeds — after deducting SAR 3 mn in offering fees — to support growth. The plan sees the company raising its current production capacity by 50% with further increases planned in the coming years.

ADVISORS- Yaqeen Capital is serving as the financial advisor and lead manager, while Al Rajhi Capital, Riyad Capital, Alinma Investment, AlJazira Capital, SAB Invest, Derayah Financial, BSF Capital, SNB Capital, Alistithmar Capital, Albilad Capital, ANB Capital are all receiving agents.

Earnings reports keep rolling in

We have another handful of earnings this morning, including MBC Group, Yaqeen Capital, Jarir, and Fakeeh Group.

MBC GROUP-

MBC Group reported 66.5% y-o-y growth in net income to SAR 116.5 mn in 2Q 2024, despite an 11.6% downtick in revenues to SAR 964 mn, according to an earnings release (pdf). On a 1H basis, the company’s net income grew 360% y-o-y to SAR 237.8 mn, while revenues were up 10% to SAR 2.2 bn.

Shahid took the spotlight: The streaming platform saw 16% y-o-y growth in revenues in 2Q 2024 to SAR 259 mn, and 40.8% growth in 1H 2024 to SAR 557.3 mn, on the back of a boost in performance during Ramadan and continued momentum. The improved performance increased Shahid’s share in the group’s total revenue to 25% during the first half, up from 20% a year earlier, Aleqtisiah reported. Shahid also cut costs 85% y-o-y to SAR 24 mn in 1H 2024.

JARIR MARKETING-

Jarir Marketing’s (Jarir Bookstore) net income grew 9.8% y-o-y to SAR 171.1 mn in 2Q 2024, on the back of a 8.8% uptick in sales to SAR 2.7 bn that was partially offset by a ramp up in costs, the bookstore chain said in a disclosure to Tadawul.

On a 1H basis: The company logged a 3.3% y-o-y dip in its bottom line to SAR 390.4 mn in 1H 2024 on the back of higher costs, the disclosure said. Meanwhile, revenues saw a 2.8% uptick at SAR 5.3 bn due to a boost in smartphone, video game, and computer section sales.

Dividends: Jarir will distribute a SAR 180 mn dividend at SAR 0.15 per share, according to separate disclosure to Tadawul. The distribution date is set for Wednesday, 21 August.

FAKEEH CARE GROUP-

Fakeeh Care Group saw its adjusted net income rise 67% y-o-y to SAR 42.9 mn in 2Q 2024, and revenues were up 20% during the period at SAR 654 mn, it said in an earnings release (pdf ). Fakeeh Care’s net income was up 39.4% y-o-y at SAR 103.6 mn in 1H 2024, while revenues were up 24.1% y-o-y to SAR 1.3 bn. Healthcare accounted for 91% of the group’s total revenue.

REMEMBER- Fakeeh’s IPO was the largest on Tadawul in 1H 2024: The healthcare provider’s 21.5% stake offering saw strong demand from institutional investors with a 119x oversubscription rate. The institutional portion of the offering drew orders worth a combined SAR 341 bn (USD 91 bn).

YAQEEN CAPITAL-

Yaqeen Capital’s net income fell 76.3% y-o-y to SAR 8.9 mn in 1H 2024, on the back of a non-recurring transaction relating to the sale of a company-owned building in 2023, the company said in a disclosure to Tadawul. Meanwhile, revenues grew 2.7% during the period to SAR 40 mn.

Of football and Saudi Hollywood

As the summer transfer window closes, the Saudi Pro League is drawing attention for its lack of high-profile signings, according to Goal. Meanwhile, Bloomberg takes note of the Kingdom’s efforts to boost its film industry by offering incentives to attract Hollywood talent.

Food delivery app Twlm closed a SAR 1 mn funding round

STARTUP WATCH-

Homegrown food pick-up app Twlm has raised SAR 1 mn (USD 270k) in a funding round, according to a press release. The round was led by B Group, with participation from unnamed angel investors. The startup will use the fresh funds to expand its network to 1k local restaurants before year end, up from the current 250.

DEBT WATCH-

Nomu-listed telecom and power infrastructure firm Keir International has more than doubled its line of credit with Banque Saudi Fransi to SAR 74 mn, up from SAR 32.2 mn, a filing to Tadawul showed. The funding will be allocated to finance projects, bank guarantees, and letters of credit, Keir explained.

SPACE-

US space research organization Seti Institute has partnered with the Saudi RoyalCommission for AlUla to deploy space surveillance systems at AlUla Manara Observatory in the historic archeological site, launch educational programs, and conduct joint research projects, according to a statement (pdf) from Seti. The partnership seeks to position AlUla Manara Observatory as a hub for astro-tourism and space research, the statement read.

REGULATION WATCH-

#1- A new royal decree mandates that the eldest present royal member of the cabinet to chair meetings in the absence of King Salman and Crown Prince Mohammed bin Salman, state news agency SPA reported. The story got ink from Reuters.

#2- The new law of the Oversight and Anti-Corruption Authority defines the Authority's structure, responsibilities, and operational procedures for combating corruption, including oversight of public entities, handling investigations, and promoting transparency, as published on the Official Gazette Umm Al Qura The law outlines the Authority's powers to monitor administrative practices, receive and verify complaints, and recover illicit assets. It also sets rules for budget management, reporting, and the treatment of officials involved in corruption, and mandates specialized units within the Authority to handle various aspects of its mission.

AVIATION-

MD Helicopters (MDH) secured a USD 19 mn support contract with the Saudi National Guard, under which it will provide comprehensive support for the Saudi National Guard’s MD530F helicopter training fleet, according to a press release. The contract covers spare parts, repair, overhaul, and in-country technical and logistical support, with one base year and four optional years. MDH will station a field service representative and logistics technician in Saudi Arabia for fleet maintenance and parts management.

The great unwinding: Global investors reverse three-quarters of the year’s carry trade

Three-quarters of global carry trades have been reversed, wiping out most of their gains for the year. Recent market shifts have eroded its gains by about 10% since May — a change that suggests that investors are pulling away from this strategy, which had been profitable since the end of 2022, according to JPMorgan strategists wrote in a note cited by Bloomberg.

Enterprise, what is a carry trade? Carry trade is a strategy where investors borrow money at low interest rates in one currency and invest it in another country in local currency with higher interest rates. This can potentially yield high returns when market conditions are favorable.

So what’s the problem? The global carry trade strategy is currently “not offering an attractive risk-reward,” the investment bank said. When market conditions change unexpectedly, the potential rewards may not be enough to justify the risks, especially with global events such as the US elections potentially influencing markets further.

With the instability of global markets, differences in interest rates have also become less reliable. For example, changes in monetary policy on the central bank level — such as unexpected interest rate changes made by the Federal Reserve and the Bank of Japan — influence global borrowing and lending conditions. Case in point: The historically popular JPY-USD carry trade lost its appeal to investors this week when BoJ’s interest rate hike fueled an increase in the value of the JPY.

Is recovery on the cards? While there might be a small chance for recovery in the carry trade this month, the overall strategy is currently not as appealing as it has been until recently due to heightened risks, JP Morgan analysts concur.

Last week’s global unwinding can also be credited in a large part to investors and macro funds unwinding their positions in carry trades, with tech stocks likely suffering the brunt due to carry trade-funded positions in the asset class, analysts told Reuters.

TASI	11,667	-0.5% (YTD: -2.51%)
MSCI Tadawul 30	1,462	-0.31% (YTD: -5.7%)
NomuC	25,815	-0.34% (YTD: +5.24%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	6.5% repo	5.5% reverse repo
EGX30	28,751	+0.4% (YTD: +15.5%)
ADX	9,306	+0.6% (YTD: -2.8%)
DFM	4,195	0.0% (YTD: +3.3%)
S&P 500	5,344	+0.5% (YTD: +12.0%)
FTSE 100	8,168	+0.3% (YTD: +5.6%)
Euro Stoxx 50	4,675	+0.1% (YTD: +3.4%)
Brent crude	USD 79.66	+0.6%
Natural gas (Nymex)	USD 2.14	+0.8%
Gold	USD 2,473.40	+0.4%
BTC	USD 61,062	+0.4% (YTD: +44.6%)

THE CLOSING BELL: TADAWUL-

The TASI dropped 0.5% Thursday on turnover of SAR 6.7 bn. The index is down 2.5 % YTD.

In the green: Baazeem (+10%), HB (+6.4%) and Theeb (+5.8%).

In the red: Saudi German Healht (-9.4%), Albaha (-7.7%) and Equipment House (-7.1%).

THE CLOSING BELL: NOMU-

The NomuC declined 0.34 % Thursday on turnover of SAR 27.9 mn. The index is down 5.7% YTD.

In the green: Al Rasheed (+7.3%), Meyar (+7.1%) and Naba Alsaha (+6.6%).

In the red: Fesh Fash (-9%), Azm (-24.4%) and Neft Alsharq (-5.9%)

CORPORATE ACTIONS-

#1- Mobi Industry will distribute SAR 7.5 mn in dividends at SAR 0.15 per share for 1Q 2024, it said in a disclosure to Tadawul. The distribution date is set for Thursday, 29 August.

#2- Southern Province Cement will distribute SAR 70 mn in dividends at SAR 0.5 per share for 1H 2024, the company said in a disclosure to Tadawul. Distribution is set for Sunday, 25 August.

#3- Al Wasatah Al Maliah (Wasatah Capital) will distribute SAR 5.3 mn in dividends at SAR 0.35 a piece for unitholders of Alwaha REIT Fund for 1H 2024, it said in a disclosure to Tadawul. Distribution is set for within 15 working days of the Thursday, 8 August announcement date.

#4- Al Mawarid Manpower will distribute SAR 18.8 mn in dividends at SAR 1.25 per share for 1H 2024, the company said in a disclosure to Tadawul. Distribution is set for Thursday, 22 August.

CALENDAR

AUGUST

4 July-25 August: (Thursday-Sunday): Esports World Cup, Boulevard Riyadh City, Riyadh.

12-13 August (Monday-Tuesday): Monshaat Franchise Tour, Al-Khobar.

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

18 August (Sunday): New academic year begins.

18-22 August (Sunday-Thursday): SANS Riyadh Cyber Leaders August 2024, Hyatt Regency Riyadh Olaya.

24-25 August (Saturday-Sunday): New Global Sport Conference 2024 (NGSC24), Four Seasons Hotel Riyadh.

27-29 August (Tuesday-Thursday): Saudi Fashiontex Expo, Riyadh.

SEPTEMBER

2-4 September (Monday-Wednesday): Saudi Warehousing & Logistics Expo, Riyadh.

2-4 September (Monday-Wednesday): Saudi Wood Expo, Riyadh.

3-5 September (Tuesday-Thursday): 24 Fintech, Front Exhibition & Conference Center, Riyadh.

9-11 September (Monday-Wednesday): International Manufacturing Congress, Riyadh.

10 September (Tuesday): Saudi Arabia Investors Forum, Riyadh.

10-11 September (Tuesday-Wednesday): SkyMove MENA, Riyadh.

10-11 September (Tuesday-Wednesday): Middle East LPG Expo – Saudi Arabia 2024, Intercontinental Hotel, Riyadh.

10-12 September (Tuesday-Thursday): Saudi Sports Show, Riyadh.

10-12 September (Tuesday-Thursday): Global AI Summit, Riyadh.

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

16-19 September (Monday-Thursday): Foodex Saudi, Riyadh.

17-19 September (Tuesday-Thursday): EV Auto Show, Riyadh.

17-19 September (Tuesday-Thursday): Hotel & Hospitality Expo, Front Exhibition & Conference Center, Riyadh.

18-19 September (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam.

18-19 September (Wednesday-Thursday): IDC Saudi Arabia CIO Summit 2024, Riyadh.

24-26 September (Tuesday-Thursday) Saudi Infrastructure Expo, Riyadh International Convention and Exhibition Center, Riyadh.

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

27 September (Friday): CAF Super Cup Final 2024, Riyadh.

29 September-1 October (Sunday-Tuesday): Jeddah Construct Expo, Jeddah.

OCTOBER

1-3 October (Tuesday-Thursday): Intersec Saudi Arabia 2024, Riyadh.

5-7 October (Saturday-Monday): Middle East Education & Training Exhibition 2024, Jeddah.

15-16 October (Tuesday-Wednesday): Solar & Storage Live KSA, Riyadh.

16-17 October (Monday-Tuesday): Global Airport & Aviation Forum, Jeddah.

21-22 October (Monday-Tuesday): Smart Ports & Logistics Transformation Summit, Riyadh.

21-22 October (Monday-Tuesday): Aussie Expo, King Abdullah Financial District Conference Center, Riyadh.

21-23 October (Monday-Wednesday): Global Health Exhibition 2024, Riyadh.

29-31 October (Tuesday-Thursday): Future Investment Initiative Conference, Riyadh.

31 October (Thursday): No-visa travel for Saudis to Montenegro on charter flights expires.

NOVEMBER

2-9 November (Saturday- Saturday): WTA Finals, Riyadh.

4-7 November (Monday-Thursday): Saudi Build, Riyadh.

26-28 November (Tuesday-Thursday): Saudi Electricity Expo, Riyadh.

11-12 November (Monday-Tuesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh.

11-12 November (Monday-Tuesday): Saudi Airport Exhibition, Riyadh.

11-14 November (Monday-Thursday): Cityscape Global, Riyadh.

18-20 November (Monday-Wednesday): The Heavy Equipment and Truck Show, Dammam.

19-21 November (Tuesday-Thursday): Saudi International Maritime Forum, Dammam.

25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.

26-28 November (Tuesday-Thursday): Future Power Expo, Riyadh.

DECEMBER

1 December (Sunday): Opec+ to meet.

2-3 December (Monday-Tuesday) Wings of Change Middle East, Riyadh.

3-5 December (Tuesday-Thursday): The International Business Exchange – IBEX EVENTS, Riyadh.

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

11 December (Wednesday): FIFA Congress, which will decide the hosting countries for the FIFA World Cup 2030 and 2034

23-26 December (Monday-Thursday): Aqarat Expo, Riyadh.

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

JANUARY 2025

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh.

FEBRUARY 2025

10-13 February (Monday-Thursday): Leap 2025, the Kingdom’s premier tech investment conference.

14-15 February (Friday-Saturday): Formula E, Diriyah.

JUNE 2025

26 June (Thursday): 2024-2025 academic year ends.

2026

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

2027

The World Water Forum takes place in Riyadh.

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