MUST-READS

• Hospitality companies remain keen on Saudi Arabia’s $20bn Diriyah Gate project, chief executive says

  Saudi Arabia is in the final stages of confirming operators for 21 of the 30 proposed hotels at its 75-billion-riyal ($20bn/Dh73.4bn) Diriyah Gate project. Despite the impact of Covid-19 on the hospitality industry, global hotel chains remain keen on their involvement in the project, Jerry Inzerillo, a hospitality industry veteran who is the chief executive of the Diriyah Gate Development Authority, told The National in an interview.

• Sudan signs peace deal with rebel groups from Darfur

  Agreement provides for the dismantling of rebel forces and integration of their fighters into the national army.

• Expatriate remittances from Saudi Arabia jumped 33% in July to $4bn

  Personal remittances by expatriates residing in Saudi Arabia totaled SR15.213 billion during July 2020, up 32.7 percent as compared to SR11.461 billion in July 2019. On a monthly basis, the total personal money transfers by expatriates residing in the Kingdom registered an 8.9 percent increase, as last June the remittances reached SR13.9 billion.

• Power demand pushes UAE August oil output above OPEC+ quota: sources

  The United Arab Emirates pumped 2.693 million barrels per day in August, in breach of its OPEC+ quota, after hot weather and people holidaying at home drove associated gas demand for power generation, two sources familiar with the matter told Reuters.

• Tight security, and an Arabic greeting, on first Israel-UAE flight

  High above a vast expanse of desert the Israeli pilot’s voice broke through the passengers’ chatter on Monday to announce that the plane had just crossed into Saudi airspace. Members of the Israeli and U.S. delegations paused for a light ripple of applause, as food carts moved through the aisle with barely enough room to squeeze past the throng of White House aides, officials and journalists.

• Saudi-Led coalition destroys an explosive-laden drone launched by Houthis

• Saudi Film Festival gets underway with celebration of regional talent

  The sixth Saudi Film Festival will on Tuesday go live with a 6-day virtual celebration of regionally produced movies. Bringing together Saudi talents and creatives, the event aims to support emerging filmmakers and promote movie culture in the Kingdom. Due to the coronavirus disease (COVID-19) pandemic, the annual flick fest will this year see films screened via YouTube, reaching a larger audience.

• Students in Saudi Arabia begin the new school year with some uncertainty

  Around 6 million school students and half-a-million teachers in Saudi Arabia began the first week of the new academic year virtually on Sunday, but with shared frustration and a difficult start. Saudi Arabia’s Ministry of Education (MoE) announced a test launch of its new Madrasati (My school) platform for distance learning last week before the start of the academic year, but many students and teachers have been struggling with their registration since the initial announcement.

• Saudi Exchange Plans to Start Single-Stock Futures Next Year

  Saudi Arabia’s stock exchange plans to introduce futures contract in single stocks in the first half of next year, according to its chief executive officer. The start of derivatives market will also help accelerate plans for an offering of shares in the bourse Khalid Abdullah Al Hussan said in an interview to Bloomberg TV. Index futures started to trade in the exchange on Aug. 30.

• Saudi King Fires 2 Royals in Defense Corruption Inquiry

  King Salman of Saudi Arabia fired two members of the royal family and referred them, along with four military officers, for investigation into corruption at the defense ministry, according to a royal decree issued early on Tuesday and carried by state news media.

  • Bloomberg - Saudi King Dismisses Yemen War General on Corruption Suspicions
  • Arab News - King Salman issues decree sacking commander of Yemen forces, Jouf deputy governor over corruption
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