MUST-READS

• Saudi Arabia’s BinDawood Delays its $600 Million Initial Stock Listing

  Saudi Arabia’s BinDawood Holding Co. will delay its $600 million initial public offering and give investors a chance to revoke their bids after discovering transactions with related parties that it hadn’t previously disclosed, according to people familiar with the matter. The deal is now expected to be pushed back by about a week from its initial timeline, which would have seen final allotment of shares on Oct. 1, the people said. BinDawood said in a statement on Thursday that its IPO would be delayed pending additional disclosures and a spokesman for the company declined to comment further.

• Fatah, Hamas say deal reached on Palestinian elections

  Two biggest Palestinian factions, Fatah and Hamas, have agreed to hold the first elections in Palestine in nearly 15 years.

• Jewish High Holidays clash with COVID-19 lockdown in Israel

  Naftali Herstik still remembers the first time he “stood beside the pillar,” meaning that he led Rosh Hashanah services from the central synagogue lectern at which a cantor chants the liturgy. It was 69 years ago, and he was 4½ years old. The heir of a long dynasty of cantors and rabbis, Herstik was already a famed child prodigy and had accompanied his father at previous celebrations.

  • Washington Post - Israel’s Netanyahu brings his dirty laundry to Washington. Literally.
• Watch a Photographer Direct Fighter Planes During a Mid-Air Shoot

  The Royal Saudi Air Force organized a photo shoot during air show rehearsals in preparation for the 90th National Day of Saudi Arabia yesterday. Saudi journalist Enad al-Otaibi Tweeted a couple of amazing behind-the-scenes videos showing well-known Saudi aviation photographer Ahmed Hader directing and photographing fighter jets

• Coronavirus: Saudi Arabia reports drop in COVID-19 cases with 498 infections

  1,007 new recoveries were reported, making the total number of recoveries 314,793. The total number of cases stood at 314,793, while the death toll was 4,599 after 30 deaths were reported.

  • Reuters - Saudi Arabia suspends India flights due to coronavirus, sources say
• Saudi flag emoji tweeted 27 million times since last September

  With current circumstances changing the way people celebrate, and in light of the Kingdom’s 90th celebration, Twitter launched a 90 minute trivia quiz via its account in the region; @TwitterMENA.

  • The National - Dance festival MDL Beast releases anthem celebrating Saudi Arabia's 90th anniversary
• Egypt Surprises With 1st Rate Cut Since March as Focus Moves

  Egypt’s central bank unexpectedly lowered interest rates for the first time since an emergency cut in March as the focus moves from luring more debt investment to supporting economic growth. The Monetary Policy Committee reduced the deposit rate to 8.75% from 9.25%, according to a statement Thursday. All but two of 11 economists surveyed by Bloomberg predicted no change. The lending rate was decreased by the same amount to 9.75%.

• Saudi dissidents form pro-democracy political group

  Saudi experts say while Prince Mohammed has fuelled resentment among some royals, he has the support of others and of the security apparatus and is popular among Saudi youth.

• Oil Slides With Renewed Virus Surge Weighing on Markets

  Oil slumped near $40 in New York as the coronavirus weighs on markets and raises concerns about the outlook for consumption. November futures fell on Friday as the dollar gained and equity markets declined. Recent days have underscored the patchy prospects for demand, with the International Energy Agency signaling caution, while traffic-congestion data suggest road-fuel consumption in parts of Europe is holding up relatively well.

• Saudi fintech surges even as coronavirus bites private sector

  Similarly, the target for cashless transactions was 28 percent e-transactions by end of this year, but today they make up almost 37 percent of the total.

  • Crowdfund Insider - Saudi Arabia Monetary Authority to Award More Fintech related Licenses, as Number of Digital Transactions Continue to Rise
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