As Windows Live Events is going to be retire, we can create Events in Windows Live Calendar with simple step by step instructions as given:

1. Go to Windows Live Calendar



Click on New. From the pull-down menu so came select Event.



2. Now click on Add more details. Here type the details of events like What, Where, Time of event.
3. Click on Invite People and select your friends. Simply add emails of friends from the contacts list.
4. Click Send invitation. All the details of your get-together wil be sent to the invited people.

Source: UnlockWindows