MUST-READS

• Non-Saudis invest over $106.6B in Saudi market

  The Saudi Exchange Co. (Tadawul) is working on introducing a package of developments in the derivatives and options contracts market, which was launched in December 2023 to boost liquidity and diversify contracts, CEO Mohammed Al-Rumaih said.

• Hong Kong in talks with UAE and Saudi sovereign wealth funds for Asia investments

  Hong Kong is in talks with sovereign wealth funds in Dubai, Abu Dhabi and Riyadh to channel their investments into broader Asian markets including China and enable deals for Asian investors in the Gulf, a senior government official has said. The city, one of the biggest financial and trading hubs in Asia, has already developed a strong deal pipeline in Asia, the GCC and the broader Middle East region, in sectors such as energy, sustainability, infrastructure and utilities, commissioner for Belt and Road Nicholas Ho told The National.

• Sudan accuses UAE of arming rivals and prolonging war, UAE accuses Sudan of refusing to talk peace

  The Sudanese government accused the United Arab Emirates on Wednesday of providing weapons to its rival paramilitary force and prolonging the 17-month war. The UAE called the allegations “utterly false” and “baseless” and accused the government of refusing to negotiate peace with its enemy.

• Iran turns to Hells Angels and other criminal gangs to target critics

  Instead, officials said, Iran hired criminals in Eastern Europe who encountered few obstacles as they cleared security checks at Heathrow Airport, spent days tracking Zeraati and then caught departing flights just hours after carrying out an ambush that their victim survived — perhaps intentionally, investigators said, to serve as a warning but not trigger the fallout that would come with the murder of a British citizen.

• Chinese Premier vows stronger trade, investment ties with Saudi Arabia

  “China and Saudi Arabia should further expand the scale of bilateral trade, deepen cooperation in traditional areas such as oil and gas, petrochemicals and infrastructure construction … [while expanding] to new energy, information and communications, digital economy, green economy … and work together to maintain the stability of the global industrial supply chain,” the premier said, according to the official People’s Daily newspaper.

• Saudi Games 2024 Torch Arrives in NEOM

  The torch for the third edition of the Saudi Games 2024 arrived in NEOM on Tuesday, as part of its promotional tour for the largest national sports event in the Kingdom. The event will be held in Riyadh from October 3 to October 17.

• Saudi’s new Investment Law promises FDI level playing field

  On August 11, the country announced the new regime which will replace the existing Foreign Investment Law from next year, unifying local and foreign firms under a single investment rulebook for the first time. It is the latest in a string of legislative changes designed to lift transparency and closer align business law in the Middle East’s biggest economy to international standards.

• Saudi Aramco says will launch first branded gas station in Pakistan by year end

  Saudi oil giant Aramco said on Wednesday it would launch its first branded retail gas station in Pakistan by the end of the year, having already completed the acquisition of a 40 percent stake in Gas & Oil Pakistan Ltd. (GO) in May. Aramco is a global integrated energy and chemicals company that produces approximately one in every eight barrels of the world’s oil supply. GO, one of Pakistan’s largest retail and storage companies, is involved in the procurement, storage, sale and marketing of petroleum products and lubricants.

• Travelex looks at expansion into Saudi Arabia amid kingdom’s $800bn tourism push

  Travelex, the UK-based foreign exchange company, is exploring opportunities for its entry into Saudi Arabia as the kingdom aims to invest $800 billion to develop its tourism sector, attract international visitors and diversify its economy away from oil revenue. The global travel money services business is currently in discussions to enter the lucrative market and is considering airports across the country as part of wider plans to expand into high-growth markets in the Middle East and Asia, Richard Wazacz, chief executive of Travelex, told The National.

• Netanyahu’s Other War

  “Judicial reform is not on the agenda,” Prime Minister Benjamin Netanyahu declared at a press conference on October 28, referring to his government’s program to eviscerate the supreme court and give the executive unconstrained power. Major  protest organizations that had risen to fight Netanyahu’s power grab switched their  mission overnight to philanthropy—helping bereaved families and displaced residents of border towns. Amid sirens warning of incoming rockets from Gaza, arguments over judicial review could obviously wait.

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