We’re really optimistic about the economy, but less so about job security

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Regional fintech giant MNT-Halan looks to enter Saudi after closing Turkey acquisition

Good morning, wonderful people. Two stories are particularly worthy of your attention this morning: Saudi consumers are confident in the economy and their personal financial circumstances — far more so than the global average — but are a bit less secure about their own jobs, according to a recent survey. Plus: Western capitals are casting increasingly watchful eyes at our warming ties with Beijing.

^^ We have these stories and more in this morning’s news well, below.

BUT FIRST- Egyptian fintech giant MNT-Halan wants to expand to Saudi Arabia and the UAE, among other markets, EnterpriseAM Egypt quotes founder and CEO Mounir Nakhla as saying. The company’s expansion will see it acquiring businesses in new markets, Nakhla said. MNT-Halan raised a blockbuster USD 157.7 mn funding round and has acquired 100% of Turkish consumer finance outfit Tam Finans.

AND- Saudi and South Korean businesses signed 10 agreements at a business forum that kicked off yesterday in Seoul, according to a post on X by the Federation of Saudi Chambers. The announcement was short on details, saying only that the agreements were in sectors including construction, healthcare technology, renewable energy, food, and cosmetics.

PLUS- Armenia has appointed its first-ever ambassador to Saudi Arabia, Armenpress reports, citing an announcement from the Armenian president’s office. Karen Grigorian, who is currently her country’s ambassador to the UAE, will represent Armenia in both the Kingdom and the UAE. Saudi and Armenia formally established diplomatic ties in November 2023.

DATA POINT-

Egyptian real estate giant Talaat Moustafa Group (TMG) has hit SAR 3.3 bn in sales at its Banan project in Riyadh since its launch in May, according to Al Eqtisadiah. The SAR 31.4 bn project, located in Al Fursan, spans 10 mn sq km and is expected to house 120k residents. Apartments in the project range from 53 to 176 sqm, with price points from SAR 260.4k to SAR 1.025 mn.

PSAs-

#1- Fashion designers have until Saturday, 10 August to register for the Saudi Heritage Revival Competition and a chance to train at Dar Al Hanouf fashion house in Jeddah, according to the state news agency (SPA). The competition, launched by the Fashion Commission in collaboration with the Saudi 100 Brands program, is themed around sustainable fashion and celebrating national cultural heritage.

#2- You now need certification from the Saudi Authority for Intellectual Property (SAIP) before receiving an IP agent license, after the authority ratified new regulations for licensing, it said in a post on X. Those seeking to manage IP portfolios or assist clients with matters related to IP law (such as patents, trademarks, copyrights, and trade secrets) must apply for this license, with a few exceptions. SAIP grants exceptions to individuals who have at least five years of experience reviewing IP-related claims, according to its website.

Registration is now open for testing to receive a license, with the deadline to register set for Monday, 5 August. The test will be held on 5 September, SAIP said in a separate post. Registration will open for a second test this year from 7-14 October, with the test scheduled on 14 November. You can register here.

#3- The Saudi Accreditation Center has granted halal accreditation certificates to two organizations in Brazil and Australia following an inspection of their facilities, according to SPA. The move is meant to facilitate products’ entry into the Saudi market.

#4- Some 3.2k Kia Tellurides are being recalled due to a defect in their powertrains that could cause vehicles to move set in “park,” state news agency SPA reported. The Ministry of Commerce is recalling all models from 2020 to 2024.

#5- Dependents of expats can now seek temporary work in the health and education sectors through the Ajeer platform, reports Okaz.

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THE BIG STORY ABROAD-

For the first time in weeks, there’s more business news occupying front pages in the foreign press than politics, as Microsoft and Samsung kicked off 2Q earning season for Big Tech yesterday, fueling another market sell-off amid continued concerns about the commercial viability of AI.

BUT FIRST- Israel attacked a southern suburb in Beirut yesterday, claiming it killed a senior Hezbollah advisor. Israeli officials said no other attacks are planned for the time being, Bloomberg reports. The attack came in retaliation to a strike on the Golan Heights that killed 12 children and teenagers and for which Israel blamed Hezbollah. Three Lebanese civilians died in the Israeli attack, including two children, according to Reuters.

IN TECH NEWS-

#1- Investors continued to sell Big Tech, with Nvidia down 7% yesterday ahead of the sector’s earnings this week. The tech-heavy Nasdaq ended the day 1.3% down, while S&P 500 fell 0.5%. (FT)

#2- Microsoft’s Azure cloud service saw a slowdown in growth in 4Q 2023-2024, while capital spending hit USD 19 bn, with the tech giant saying the figure will increase in the new fiscal year. Microsoft’s shares were down 4% in extended trading following the results, which fueled already persistent concerns among investors about the excessive capital expenditure in AI and the lack of a fast pay-off.

#3- Samsung saw its bottom line increase six-fold on the back of a rebound in semiconductor prices and as earnings recovered from a low base, according to its earnings release (pdf).

#4- Intel plans to slash thousands of jobs in a cost reduction drive possibly as early as this week, as it continues to face subdued demand for its computer chips amid the AI boom. (Bloomberg)

AND IN OTHER BUSINESS NEWS- Standard Chartered announced plans for a USD 1.5 bn share buyback program — its biggest ever — as it lifted its income outlook on strong growth in Asia. (Reuters)

LATER THIS WEEK- Opec+ is expected to reaffirm its commitment to cutting production when it meets tomorrow, Reuters reports.

AND- US Vice President Kamala Harris is set to announce her running mate as early as next Monday before a multi-state battleground tour later next week. (Reuters)

OLYMPICS-

Today should see the postponed men’s triathlon finally happen — weather permitting (thunderstorms are expected in the evening) — after being delayed from the previous day due to poor water quality levels in the Seine. Also watch out for: Nadal and Alcaraz’s tennis doubles quarterfinal against the US’ Austin Krajicek and Rajeev Ram; 100m swimming freestyle finals for men and women; and artistic gymnastics finals.

Highlights from yesterday: Simone Biles clinched her fifth gold medal in the women’s team event; and Andy Murray and his double’s partner Dan Evans made it to the quarterfinals.

The medal standings now at the Paris Olympics:

Japan (7 gold, 13 overall)
China (6 gold, 14 overall)
Australia (6 gold, 11 overall)
France (5 gold, 18 overall)
South Korea (5 gold, 11 overall)

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

CIRCLE YOUR CALENDAR-

The Crawford vs Madrimov boxing showdown will take place on Saturday, 3 August at the Los Angeles BMO Stadium. The event is the highlight of the Los Angeles Riyadh Season Card which features five other bouts. You can check them out here.

Aramco is set to release its 1H 2024 results on Tuesday, 6 August, according to its website. You can tune into the audio webcast of its earnings call here. The oil giant’s net income dipped a bit more than 14% in 1Q 2024 to SAR 102.3 bn.

Small and medium enterprises regulator Monsha’at will hold a franchise tour of five cities on 12-13 August (Monday and Tuesday). The tour, which starts in Khobar and includes stops in Abha, Qassim, Hail and Jeddah, will showcase success stories in the sector. The tour then picks up with seven stops scheduled for an installment next year.

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 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.

The two-day Middle East LPG Expo - Saudi Arabia 2024 will open on Tuesday, 10 September, bringing together upwards of 4k liquified petroleum gas (LPG) experts to discuss the future of the fuel gas in clean energy. Saudi accounts for 50% of demand for LPF in the Middle East and Africa.

The TotalEnergies CAF Super Cup Final 2024 between Egyptian rivals Al Ahly and Zamalek will be held in Riyadh on Friday, 27 September. The venue and kick-off time of the match will be announced at a later date.

This year’s edition of security-focused expo Intersec Saudi Arabia will run from Tuesday, 1 October to Thursday, 3 October at the Riyadh International Convention and Exhibition Center.

International food and beverage expo InFlavour is returning to Riyadh on Tuesday, 1 October. The three-day event — which will be organized in collaboration with the Environment, Water and Agriculture Minister, Tahaluf, Pepsico, Al Rabie, Arasco and Nadec — will take place in Riyadh’s Front Exhibition and Conference Center.

Saudi citizens are broadly optimistic about the Kingdom’s economy

Saudi citizens have high hopes for the Kingdom’s economic future: The Kingdom’s Primary Consumer Sentiment Index (PCSI) hit 72.7 in May 2024, signaling strong consumer optimism about the economy, according to global market research and consulting firm Ipsos in its latest report for May 2024 (pdf).

Uhm, Enterprise? What’s the PCSI? The index gauges consumer confidence based on survey responses to questions about the economy, each respondent’s financial situations, the investment climate, comfort with making major purchases, and employment.

The bottom line: We’re far more satisfied with our personal financial positions and are more optimistic about the economy than the global average — but ever-so-slightly less certain about job security than the the rest of the world.

Major worries: The top concerns for consumers include inflation (44%), unemployment (30%), taxes (28%), climate change (26%), and COVID-19 (21%). Concerns about inflation, climate change, taxes, and poverty have risen compared to April 2024, while worries about unemployment, healthcare, and crimes dropped.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

73% of respondents consider the economy to be strong, while 24% are neutral. Looking ahead, 87% are optimistic, expecting the economy to improve over the next six months. Some 47% of respondents described their personal financial situation as “strong,” 8% as neutral, and 45% as weak. But, 77% are hopeful for an improvement in their financial situation within the next six months. Additionally, 78% say they feel more secure in their jobs than they did six months ago, 77% are more comfortable making major purchases and 75% are optimistic about future investment.

The Kingdom’s average PCSI is 22.5 points higher than the global average (50.2) and we scored the highest on the right direction / wrong track global comparison, with 95% of respondents saying they think the economy is on the right track, a 300 bps uptick from April.

By the numbers:

The Saudi personal financial conditions score was 77.2 — vastly higher than the global average of 40.7;
Economic expectations came in at 76.4 — 17.7 points higher than the global average; Employment Confidence was at 57.4 — slightly below the global average of 59.5.

Methodology: The survey was based on self-administered online interviews with a sample of 500 respondents aged 15 and above from the general public.

Riyadh-based Intelmatix closes region’s largest AI series A

Saudi deep-tech AI company Intelmatix closed a USD 20 mn series A funding round, marking the region’s largest series A round for an AI startup, according to a press release. The round was led by Shorooq Partners, with participation from Saudi Venture Capital Company, Saudi Technology Ventures (STV), Olayan Financing Company, Sultan Holdings, Zain Ventures, and Rua Growth Fund. The story also got ink in Bloomberg.

What we don’t know: Information about the size of the stake offered to investors and the investment structure, as well as the specific amounts each institution invested, was not disclosed. It is also unclear where Intelmatix plans to earmark the funds.

Background: Intelmatix closed a seed round back in 2021 with STV and Sultan Holdings with an undisclosed amount. The AI startup also signed an agreement with Prince Sultan University to launch the first AI initiative in the university in March.

About Intelmatix: Founded by MIT scientists, Intelmatix seeks to bridge the region’s AI gap through its flagship product, the Enterprise Decision Intelligence Platform, which is designed to provide comprehensive AI solutions for organizations without requiring extensive AI expertise.

IN OTHER STARTUP NEWS-

Egypt-born education startup Educatly has raised USD 2.5 mn in a funding round, which was led by TLcom Capital and Plus VC, with additional participation from Egypt Ventures and the Irish HBAN syndicate, it said in a statement. Educatly acts as a database for school and university students to help inform their educational decisions. It launched in 2020 and started operations in Saudi last May.

Taking stock of the fast-growing Saudi-China relationship

Fast-warming ties between China and both Saudi and the UAE have been making global headlines as western leaders worry about rising Chinese influence around the globe. Chinese companies are taking pieces of big infrastructure and energy projects in the Kingdom. Chinese investors are flocking to Tadawul ETFs. Banks are mining the two-way trade corridor between China and the GCC, with a particular emphasis on Saudi and the UAE. And Chinese renewable energy players will set up component manufacturing operations here.

China remains our biggest trade partner — and it’s increasingly a destination for Saudi investors. A unit of Aramco has just invested in a Chinese rival to OpenAI. Aramco units are making petrochemical and refining investments there, and Sabic is building a world-scale USD 6.4 bn petchem complex. PIF’s advanced technology platform Alat has bought a USD 2 bn convertible note from PC-maker Lenovo. Investment in China by Mideast sovereign funds is soaring, with PIF in the lead, and we’re nibbling at the edges of more defense cooperation, too. Meanwhile, it’s never been easier to get a flight between Saudi and major Chinese cities.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

The western press is catching on: “The Middle East is one region which is agnostic between the East and West,” Bloomberg quotes Saurabh Dinakar, Morgan Stanley’s co-head of Asia Pacific global capital markets, as saying.

How to make sense of it all as policymakers in the west raise their eyebrows? Our friend Mohamed Abu Basha, head of macroeconomic analysis at EFG Hermes Research (bio), walked Bloomberg TV through it yesterday (watch, runtime: 5:57).

Fundamentally, it’s a win-win situation: Gulf countries are eager for access to advanced technology and “hungry for investment along the journey of their [economic] transformation plans. They need a lot of capital and technology to be attracted to help them with this transformation plan,” Abu Basha said. China, on the other hand, is looking to find new markets for surplus capital and capacity — and to reduce its reliance on traditional markets like the United States and the European Union.

The relationship with Beijing is among the keys to Saudi’s Vision 2030 objectives. The country’s ambitious transformation plan requires substantial investments in energy — both conventional and renewable — as well as advancements in manufacturing and infrastructure. “The biggest structural transformation in the Gulf is happening primarily in Saudi Arabia, due to the size of its economy, and its population. So it is the economy that needs the most investments, within the Gulf,” he said.

China plays a pivotal role, especially with its expertise in areas like EV battery production and large-scale infrastructure projects, he added. Abu Basha highlighted that while inward investment to the GCC from China is increasing, it still lags behind US foreign direct investment into the region, suggesting there’s plenty of room for the partnership to keep growing.

Oil prices buoyed by geopolitical tensions + production cuts: He addressed the possibility of the Kingdom pricing its oil in RMB, which he says is unlikely in the immediate future.

Marriott taps new boss for Neom’s Sindalah Island hotels

Marriott International has appointed Belal Al Kadry (Linkedin) as cluster general manager for its new properties on Neom’s Sindalah Island, where he will oversee hotels within the Marriott’s Luxury Collection, Autograph Collection, and Apartments by Marriott Bonvoy brands, according to a press release. Al Kadry has previously managed properties in Doha and has a long track record with brands including Marriott, Hilton, Ritz-Carlton, and others.

Earnings season is in full swing

United Electronics Company (Extra) reported a 73% y-o-y jump in net income to SAR 106.6 mn in 2Q 2024, it said in a disclosure to Tadawul. Revenues rose 9.8% during the period to SAR 1.9 bn due to higher retail sales and a 53% y-o-y uptick in online sales. These gains were partly offset by a ramp up in expenses and a one-off cost due to the cancellation of expansion programs in Egypt.

On a 1H basis: Extra saw its net income rise 37.2% y-o-y to SAR 200.5 mn in 1H 2024, with revenues up 9.9% y-o-y at SAR 3.5 bn.

ALSO- Extra’s board approved the distribution of SAR 160 mn in dividends at SAR 2 per share for 1H 2024, the company said in a separate disclosure to Tadawul. Distribution is set for Thursday, 15 August.

MODERN MILLS-

Modern Mills for Food Products reported SAR 44.5 mn in net income in 2Q 2024, up 8.2% y-o-y on revenues rising 11.6% y-o-y to SAR 223 mn during the quarter, the company said in a disclosure to Tadawul. The rising revenue was attributed to double-digit growth in flour and feed due to higher demand from the Hajj season, geographical expansions, and new product launches. The company’s 1H 2024 net income came in at SAR 109.5 mn, up 4.4% y-oy, while revenues rose 6.4% y-o-y to SAR 480.8 mn.

ALSO- Modern Mills’ board has voted to approve a SAR 81.8 mn in dividends for 1H 2024, at SAR 1 per share, according to a separate disclosure. The distribution is scheduled for Wednesday, 14 August.

AMERICANA RESTAURANTS-

Americana Restaurants International saw its net income drop 40.1% y-o-y to SAR 194.8 mn in 2Q 2024, on the back of reduced sales due to geopolitical events, according to a earnings release (pdf). The company’s restaurants have been facing consumer boycotts since the start of Israel’s war in Gaza. Revenues also decreased 14.2% to SAR 2.1 bn due to geopolitical effects.

On a 1H basis: Americana’s net income also contracted 44.8% y-o-y to USD 80 mn in 1H 2024, with revenues also down 15.2% to USD 1.1 bn, despite the opening of 81 new stores during the period. Aside from geopolitical effects, unfavorable effects due to the devaluation of the EGP in Egypt and higher depreciation charges also contributed to the decline in performance.

Looking ahead: The company is opting a “watchful approach” to expansions, with plans to add between 175 and 185 new stores this year, the company said. It will also focus on investing in “smart pricing, targeting, promotion and marketing” to boost revenues.

AYYAN INVESTMENT COMPANY-

Ayyan Investment’s net losses widened to SAR 48.4 mn in 2Q 2024, compared to a net loss of SAR 41.3 mn in 2Q 2023, despite recording 38.8% growth in revenues to SAR 106.2 mn, it said in a disclosure to Tadawul. Higher revenue and financing costs, as well as greater zakat expenses, contributed to the higher net loss, while the increase in revenues came on the back of greater revenues from Al Salam Medical Services Company from higher patient numbers.

On a 1H basis:Ayyan saw net losses widening to SAR 104.3 mn in 1H 2024 (up from SAR 87.8 mn in 1H 2023) while revenues were up 41.4% y-o-y to SAR 206 mn.

Ayyan’s accumulated losses by 1H 2024 hit 44.9% of the company’s capital, the disclosure reads. This places the company under the purview of Article 4 of the CMA’s guidelines (pdf) for listed companies with accumulated losses, flagging the company’s stock until a remedial plan is announced. Ayyan submitted a rights issue file to the CMA to raise its capital by SAR 200 mn, with shareholders subscribing to some 85% of the newly issued shares so far. The company is also looking at property and equity instrument divestments to stymie its losses. Ayyan has been running steady losses since 2Q 2022.

Taiba unit will operate a Hilton hotel in Riyadh’s upcoming stc Square

HOSPITALITY-

Smart Zone Hotel, a subsidiary of Taiba Investments, will operate a 159-room Marriott International hotel in Riyadh’s stc Square, a disclosure to Tadawul shows. Smart Zone will take a slice of the hotel’s revenue and operating profit under the 20-year agreement, which can be extended for up to 10 additional years. The hotel will open in 4Q 2027.

INFRASTRUCTURE-

#1- The National Water Company (NWC) has broken ground on 23 water and two sanitation projects in Asir Province at an investment cost of some SAR 960 mn, state news agency SPA reported.

NWC is on a building spree: PIF-owned NWC kicked off nine drinking water and sewage network projects in Madinah in mid-May at an estimated cost of SAR 500 mn, days after launching 12 water projects in Eastern Province worth SAR 1.5 bn.

#2- The Eastern Province Municipality plans to launch tenders for 16 projects in the city of Khafji this year, SPA reported. They include a five-star hotel, hospital, driving school, community school, boulevard, movie theater, wedding hall, and retail stores, among others.

AVIATION-

New Uzbekistan airline Air Samarkand will operate two weekly flights between Samarkand and Jeddah. It finished its flight between the two countries on Tuesday, the Saudi General Authority of Civil Aviation said in a post on X. The airline plans to add a route to Madinah starting next month, according to the Uzbek news outlet Kun.uz.

SPACE-

The Saudi Space Agency has launched a Concurrent Design Facility which will use concurrent engineering and advanced simulations to conduct space mission studies more efficiently, according to a statement from the agency. The facility aims to cut the time required for preparing feasibility studies for space missions by 75% and reduce the cost of designing space systems by 50%.

What is so special about concurrent engineering? Concurrent engineering is an approach to product development that allows different departments to work simultaneously and communicate back and forth on designing and developing products — in this case space missions studies — which leads to cutting production costs and time. This is entirely different from the linear approach of traditional sequential engineering, where production stages are carried out one after another, with no overlapping feedback.

It’s a big day for capital markets with two interest rate decisions and a ton of earnings reports looming

It’s a big day for capital markets as investors await interest rate decisions from both the US Federal Reserve and the Bank of Japan. The expectation is that Japan could raise rates — and that the Fed will signal it will start cutting this fall, likely in September. The Bank of England will follow suit yesterday

Also set to drive sentiment today: Earnings reports from HSBC, Arm Holdings, and Qualcomm, among others, as well as China’s latest purchasing managers’ index and a barrel of macro data from Hong Kong to Australia.

What everyone wants to know: Will Meta’s 2Q results today spook investors as much as Microsoft’s did yesterday? The Redmond-headquartered company’s disappointing Azure cloud sales spooked investors who had already given the thumbs-down to Tesla and Alphabet last week as skepticism builds about the commercial viability of AI.

A sliver of light? Samsung (a net beneficiary of spending by companies and Big Tech on AI) reported a sharp rise in net income just before we hit “send” on this morning’s issue. The Korean giant said surging semiconductor sales drove its results for the quarter.

And then… Apple and Amazon will announce their results tomorrow.

AND IN OUR REGION- A USD 820 mn tranche from Egypt’s IMF loan should arrive in the “coming days,” the country’s Finance Minister, Ahmed Kouchouk, said in a statement released yesterday after the IMF gave the green light to the third review of Egypt’s USD 8 bn loan program. Kouchouk described the decision as a “vote of confidence” in the government’s economic policies and a “message of reassurance.”

MARKETS THIS MORNING-

Asian markets mostly in the green this morning as investors wait for macro data and an interest rate decision in Japan — and prepare for a long day of earnings as the clock marches on. Australia’s ASX 200, Korea’s Kospi and both the Hang Seng and the Shanghai Composite are in the green. Only the Nikkei is (ever so slightly) in the red as we prepare to hit “send” on this morning’s issue.

Both Wall Street and European equity futures were mixed in overnight trading as investors largely took a wait-and-see approach.

TASI	12,065	-0.5% (YTD: +0.2%)
MSCI Tadawul 30	1,511	-0.6% (YTD: -3.2%)
NomuC	26,672	+0.6% (YTD:+8.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	6.5% repo	5.5% reverse repo
EGX30	29,039	+0.7% (YTD: +16.7%)
ADX	9,937	0.0% (YTD: -1.9%)
DFM	4,284	-0.6% (YTD: +5.5%)
S&P 500	5,483	+0.4% (YTD: +14.8%)
FTSE 100	8,281	-0.1% (YTD: +7.1%)
Euro Stoxx 50	4,859	+0.9% (YTD: +7%)
Brent crude	USD 78.77	-1.3%
Natural gas (Nymex)	USD 2.04	+0.3%
Gold	USD 2,441	+0.6%
BTC	USD 66,269.82	-4% (YTD: +50%)

CALENDAR

JULY

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

AUGUST

3 August (Saturday): Riyadh Season Card featuring Terence Crawford vs. Israil Madrimov, Los Angeles BMO Stadium.

4 August (Sunday): Last day to apply to the Digital Government Authority (DGA) awards.

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.

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.

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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