MUST-READS

• Al Ahsa: Inside Saudi Arabia’s Guinness World Record-holding oasis

  Stretching across 85.4 square kilometres, the oasis keeps its trees irrigated by the flow of more than 280 springs of hot, warm and cold water. The wells and canals formed are not only good for the date palms, they're also a prime place for visitors looking to cool off.

  • Gulf News - Pictures: Saudi Arabia’s Al-Ahsa Oasis enters Guinness World Records
• Saudi Arabia will plant 10 million trees by the end of 2021

  The Minister of Environment, Water, Agriculture, Abdulrahman Bin Abdulmohsen Al Fadley, announced the campaign on Twitter with the caption ‘Let’s Make it Green’. The campaign will run from this month to next August 2021.

• Aviation concerns stressed to G20 public private leaders at high-level Saudi event

  This was one of the key messages delivered by ICAO Secretary General Dr. Fang Liu earlier today as she addressed the G20  high-level public-private event on Accelerating the Global Recovery of travel and tourism hosted today by the G20 Presidency, the Kingdom of Saudi Arabia.

• China, Russia and Saudi Arabia set to join UN human rights council

  Donald Trump withdrew the US from the council two years ago, which campaigners say has strengthened the authoritarian view that human rights should be measured through the prism of economics as opposed to individual freedom. Although human rights groups are often critical of the council, they say it provides a rare platform for NGOs to directly confront repressive regimes.

• Retailo raises $2.3 million pre-seed for its B2B ecommerce marketplace in Saudi & Pakistan

  According to our data, it is the second-largest pre-seed round raised by a startup in the Middle East, North Africa & Pakistan, and the largest for a startup that’s headquartered in Saudi.

• Saudi-led coalition intercepts explosive-laden drone launched by Houthis, says state news agency

  The Saudi-led coalition said on Sunday that it intercepted and destroyed an explosive-laden drone launched by Yemen’s Houthis towards the kingdom’s Najran city, the state news agency reported. The coalition has reported repeated Houthi drone or missile attack attempts recently.

• Saudi Regulator Convicts Former Mobily Executives for Violations

  Revenue figures were inflated from the second quarter of 2013 through the third of 2014, it said. The Appeal Committee for Resolution of Securities Disputes convicted the former executives for violations. It didn’t identify the executives or their roles in the company.

• Saudi’s SWCC completes construction of seven desalination plants

  SWCC Gov. Abdullah Al-Abdul Kareem said the corporation has successfully completed work on small and medium-sized plants that consume less energy and are more reliable. The Shuqaiq Desalination Plant has begun operations with a production capacity of 42,500 cubic meters, he said.

• Saudi’s National Commercial Bank buys Samba in $14.8B deal

  The bank will control some $223 billion in assets and a market capitalization of $46 billion after the merger wins regulatory approvals and is completed, National Commercial Bank said in a filing on Riyadh’s Tadawul stock market announcing the deal. The new bank will control a quarter of all banking in the kingdom, it said.

  • Arab News - NCB and Samba to merge forming Saudi Arabia's largest bank
  • Reuters - Saudi Arabia's biggest lender NCB signs binding merger agreement with Samba
• Contemporary Saudi Arabian OTC derivatives legislation

  The part relating to 'trade reporting requirements' of the Rules came into effect on 1 January 2020 (see part II of this article), while the 'risk mitigation requirements' portion came into effect on 1 April 2020 (see part III of this article).

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