MUST-READS

• Saudi’s NWC installs 2 million smart meters, consumption down 39%

  Saudi Arabia’s National Water Company (NWC) has successfully completed the installation of more than 2 million smart meters in various regions of the kingdom, which has alerted customers to their high consumption patterns, resulting in a 39% decrease in monthly water consumption rates for each customer. More than 950,000 customers have benefited from the smart meters, with an average of 36,000 weekly ‘high consumption’ alert messages sent to urge customers to identify the causes of high consumption of water, whether from internal leaks or daily use.

• Saudi plan to allow more foreign banks to benefit projects

  "SAMA is quite open regarding the operation of new banks in Saudi Arabia...there is a plan to increase the number of banks in the Kingdom to serve its massive economy through project finance and other activities in line with Vision 2030," Shatri told the Saudi Arabic language daily Aliqtisadia.

• Saudi’s First Ever Film Festival Launches A Huge Opportunity to Local Creatives

  Saudi Arabia’s first ever event dedicated to film and filmmakers, the Red Sea International Film Festival, is coming up and is launching a filmmaking challenge to encourage and inspire young Saudi creatives. What's more is that the famous Tunisian actress, Hend Sabri, is part of the award-winning jury.

• Asian refiners receive full Saudi crude term allocations for November

  "We received full allocation volume [from Saudi Aramco], we got what we asked for," a trader with a North Asian refiner said. This is the third consecutive month that Aramco has committed to fulfilling Asian term volumes. Asian refiners form a major demand center for Saudi Arabia's crude exports, with about 73% of its total crude exports in 2019 flowing to Asia, according to OPEC's 2020 Annual Statistical Bulletin.

• Younger Saudi Healthcare Professionals Are Enthusiastic Adopters of New Technology, According to the Future Health Index 2020 Report

  The report is the first large-scale survey of the younger healthcare professionals capturing feedback from nearly 3,000 respondents under the age of 40, across 15 countries including around 200 from Saudi Arabia.

• Saudi Arabia’s recalibration of economic stimuli and fiscal sustainability

  The government sector weathered the recession better than others, shrinking by only 3.5 percent, reflecting the effects of the stimulus packages adopted by the government. The private sector bore the brunt of the recession, declining by 10.1 percent, as non-government economic activities took a greater hit because of the lockdowns during Q2.

• Saudi Retailer Sees Boost From Apple iPhones

  United Electronics, also known as Extra, reported revenue of 1.23 billion riyals ($328 million) for the third quarter, up 18% from the same period last year. Profit rose 96%.

  • Bloomberg - Saudi's United Electronics Investing in E-Commerce: CEO
• India moving ‘cautiously’ on oil refiner BPCL’s privatisation- minister

  India is “treading very cautiously” in its plan to privatise state-run oil refiner Bharat Petroleum Corp Ltd, Oil Minister Dharmendra Pradhan said on Tuesday, in a sign that the process could be delayed. New Delhi’s plan to sell its 53.29% stake in BPCL was first announced in November 2019, and is part of a broader programme to spin off or sell stakes in dozens of state-owned companies. India had planned to sell the stake by the end of the fiscal year to March 2021.

• G20 to discuss measures to support rapid, sustainable global economic recovery: SPA

  G20 finance ministers‮ ‬and central bank governors will hold a virtual meeting on Wednesday under the Saudi presidency to discuss how to support rapid, sustainable global economic recovery, Saudi state news agency SPA reported early on Tuesday. The meeting will also discuss updates to the G20 action plan for supporting the global economy during the coronavirus pandemic, and the progress made in the G20 initiative to suspend debt service payments and the proposal to extend it to 2021.

• Inside the world’s biggest water desalination plants

  Ahmed al-Amoudi, head of a government-run desalination research institute, sees a future where industrially useful minerals such as sodium chloride salt, magnesium and calcium are extracted from the seawater alongside clean water, and no highly-salty wastewater - known as brine - flows back into the sea. “We can benefit from the sea and its treasures by the extraction of minerals,” Amoudi said. Amoudi works for the government’s Saline Water Conversion Corporation (SWCC), which says it makes 69% of Saudi’s desalinated water. Its researchers have filed several patents on technologies to extract minerals and other products, he said.

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