The calendar supports recurring events very similar to the options offered by other programs that include diaries. To create a recurring schedule for an event, select the Recurring Event option within the event configuration.

If you want to create multi-day recurring events then select Weekly, then select the days on which you want the event to occur.
NOTE: Please note one aspect of the recurring events feature that has been included to ensure performance of the calendar is not impacted. If a recurring event is created it's possible to add a recurrence finish date well into the future and so add a huge number of events to the calendar. To restrict the impact this could have on the performance recurring events are only shown over a restricted rolling period of time starting one month before the current date and finishing six months after the current date. So if the current date is 6th of July 2013, the calendar will display long term recurring events from the 6th of June until the 6th of January 2014.
This does not affect non-recurring events. Any non-recurring events added to the calendar are displayed regardless of whether they fall outside the seven month display window for recurring events.