MUST-READS

• Esper signs 10-year US military cooperation deal with Morocco

  The military agreement “serves as a road map for defense cooperation and aims to strengthen the strategic partnership between the two countries and support shared security goals,” according to a statement issued by the Moroccan Foreign Ministry. The agreement centers on “consolidating common security objectives, especially improving the degree of military readiness,” a statement from the General Command of the Moroccan Royal Armed Forces said.

• World’s largest fountain to launch in Dubai

  The Pointe, Dubai’s premier lifestyle and dining destination by Nakheel Malls, is gearing up to launch the world’s largest fountain. ‘The Palm Fountain’, Palm Jumeirah’s latest waterfront attraction, will attempt to break a Guinness World Records (GWR) title on Thursday, Oct. 22 during its inaugural launch event, and the public is invited to witness the celebration. Spread over 14,000 sq ft of sea water, the fountain’s super shooter will stand tall at 105 meters and come alive with over 3,000 LED lights. The attraction is the only multicolored fountain in Dubai and is a celebration of Dubai’s resurgence and ambition to aim for the sky.

• How much damage can Arab states do to Turkish economy?

  Egypt has been at the forefront of efforts to create a united Arab stance against Turkey, most recently at the Sept. 9 meeting of the Arab League. Whether Arab nations can mount an efficient joint action against Turkey is a question on its own, but the Turkish economy today is too vulnerable to dismiss or absorb large-scale reprisals.

• Coronavirus: Saudi Arabia detects 390 new infections, 511 recoveries in 24 hours

  Saudi Arabia detected 390 new cases of the novel coronavirus in the past 24 hours, raising the total number of infections in the Kingdom to 336,387, the Ministry of Health announced on Sunday.

• US push for Arab-Israel ties divides Sudanese leaders

  Sudan’s fragile interim government is sharply divided over normalizing relations with Israel, as it finds itself under intense pressure from the Trump administration to become the third Arab country to do so in short order — after the United Arab Emirates and Bahrain.

• Top Arab Economies, Saudi Arabia, UAE, Egypt, Back to Growth

  Business activity in the Arab world’s three largest economies returned to growth, with Egypt seeing its first expansion in 14 months. After a deterioration in August, the non-oil private sectors improved last month despite continuing job losses as companies adjusted to the economic challenges of the global pandemic while governments eased restrictions put in place to stop the coronavirus. A measure of non-oil private sector activity in Saudi Arabia, Egypt and the United Arab Emirates rose last month above the threshold of 50 that separates growth from contraction, according to Purchasing Managers’ Index surveys compiled by IHS Markit. Qatar’s Financial Center PMI fell sharply but stayed above the critical 50 mark.

• Saudi Arabia begins 45-day falcon auction

  The auction, organised by the Saudi Falcons Club, runs from October 3 to November 15, the beginning of the Gulf falconry season. Falconry is a multimillion-dollar business in the region, with top raptors sweeping up prizes worth hundreds of thousands of dollars in regional tournaments during winter.

• B20 Saudi Arabia: The Energy Industry is Key to a Low-Carbon Economy

  A sustainable and inclusive approach to energy does not need to come at the expense of economic interests. We see from the data that this is simply not true. A green transition is one that lifts people up, creating new jobs, new industries, new skills and new investments, overall representing an opportunity for a more equal and inclusive economy built on sustainable development.

  • B20-IEA - Joint Statement on Energy Transtitions
• Saudi Arabia’s BinDawood extends IPO timetable

  The book building period for institutional investors resumed last Thursday and will continue until October 5, the company said in a statement on its website. The subscription period for retail investors is scheduled to run from October 8 to 12, with the final offer price to be announced for both institutions and retail investors on October 6.

• Kuwait’s new emir meets senior U.S. and Iranian officials

  Kuwait’s new Emir Sheikh Nawaf al-Ahmad al-Sabah on Sunday met senior U.S., Iranian and Gulf officials who separately paid their respects over the death of the Gulf Arab state’s former ruler.

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