MUST-READS

• Sadeem
  Saudi environmental sensor firm Sadeem secures $2.6m in funding

  Sadeem, a wireless environmental sensing systems spinout company from Saud Arabia’s King Abdullah University of Science and Technology (Kaust), has secured $2.6 million of co-investment from the Kaust Innovation Fund and Saudi Aramco’s Wa’ed Ventures fund, it was announced on Monday.

• Qatar Dispute
  UAE holds back from Qatari-Saudi detente and plans for gas independence

  But Abu Dhabi's rhetoric has begun to change of late, with officials from state-owned ADNOC talking of reaching gas "self-sufficiency" and even becoming a net exporter of the fuel in the long-term.

• Red Sea Project
  What’s Inside Saudi Arabia’s Red Sea Project

  The Red Sea Project was formally started in 2017 when it was announced by Crown Prince Mohammed Bin Salman. Construction commenced in 2019 and the first phase of the project is expected to be completed by 2022 when the first luxury destinations will be opened for tourists visiting the country.

• Construction
  Three development projects to boost Saudi Arabia’s holy city Makkah

  The civic infrastructure of Makkah is developing at a rapid pace and with the completion of three development projects the city will get a fresh look as slum areas will be eliminated. The first project focuses on developing the Al-Nakkasa and Al-Kadwa slum neighborhoods. The removal of expropriated properties, which started at the beginning of last year, has reached the fifth of 14 stages set up by development companies.

• Sugar Tax
  Vimto maker Nichols warns of lower 2020 profit on Saudi, UAE sugar tax

  Shares of the company, which sells its drinks in more than 85 countries, fell 17%, as it said price hikes to offset the 50% excise tax could hurt sales next year.

• Sports
  Juventus Unveils Jerseys with Arabic Calligraphy for Saudi-Hosted Italian Super Cup

  Titleholders Juventus will play Sunday’s Italian Super Cup, hosted by Saudi Arabia, wearing a jersey with traditional Arabic calligraphy. The shirt was designed in collaboration with famous Saudi-Moroccan calligraphy artist, Shaker Kashgari, said Juventus on its official website.

• Investment
  Abu Dhabi’s Tabreed inks $34.4m deal to increase stake in Saudi venture

  Abu Dhabi’s Tabreed has acquired an additional eight percent stake in Saudi Tabreed, worth $34.4 million, bringing its ownership in the company up to 28 percent. Saudi Tabreed is Tabreed’s district cooling investment vehicle in the kingdom, which is held jointly by Vision Invest (formerly ACWA Holding), IDB Infrastructure Fund II of the Public Investment Fund of Saudi Arabia, and others.

• Security
  Saudi Arabia to Host Unified GCC Military Headquarters

  Saudi Arabia will host the Unified Military Command Headquarters of the Gulf Cooperation Council. An agreement to set up the base was signed on Sunday between Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah and GCC Secretary General Dr. Abdullatif bin Rashid Al-Zayani.

• Banking and Finance
  IPO Bankers Face Headwinds From Silicon Valley to Saudi Arabia

  From Silicon Valley to Saudi Arabia, it’s been a tough year for IPO bankers. Wall Street kicked off the year excited about money it would make bringing to market some of the world’s most iconic companies. A crop of startup unicorns from Uber Technologies Inc. to WeWork were preparing to sell shares. Then the world’s most profitable company, Saudi Aramco, started gearing up for its own initial public offering.

• U.S.-Afghanistan
  Top US General Defends Afghanistan War

  Too many officials across too many agencies worked on Afghanistan, he argued, to suggest that there was any kind of deliberate lie to the American public about the state of the war.

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