MUST-READS

• Report: Atlanta United sells Pity Martinez to Saudi club

  The move has yet to be made official by United. It remains unknown what the sale price was but an Argentine journalist reports that Al-Nassr submitted an $18 million bid for Martinez.

• Saudi Arabia to hire consultancy to improve overseas recruitments

  The Saudi Human Resources ministry is working on classification of professions, to be in a better position to enforce recruitment violations and better protect workers against fraudulent recruiting schemes. Saudi Arabia is ranked fourth in the world in terms of overseas recruitment, after the US, Russia, and Germany.

• Twitter adds context to trends in Saudi Arabia, UAE, Egypt

  Descriptions, developed by Twitter’s curation team and following their guidelines, will provide straightforward, clearly sourced context around why something is trending.

• Saudi Arabia: Response and recovery – an interview with HE Mr. Mohammed Al-Jadaan

  Saudi Arabia: Response and recovery – an interview with HE Mr. Mohammed Al-Jadaan, Minister of Finance, Acting Minister of Economy and Planning, Kingdom of Saudi Arabia

• Al Jadaan inaugurates Euromoney Saudi 2020 Virtual Series

  Euromoney Saudi 2020 launches with "Saudi Arabia: Response and Recovery". The series, “Saudi Arabia: Coming Back Stronger” is a collection of virtual events, welcoming as special guests senior Saudi policymakers, international investors, Saudi and regional financiers and corporate leaders.

  • Euromoney - Saudi Arabia: Response and recovery – an interview with HE Mr. Mohammed Al-Jadaan
• Yemen president Hadi returns to Riyadh after medical treatment in US

  Yemen’s President Abd-Rabbu Mansour Hadi has returned to the Saudi capital Riyadh after routine medical treatment in the United States, according to his Twitter account on Wednesday. He had left for the United States last month for medical treatment, Reuters had reported on August 11, citing two sources close to the matter.

• Saudi Aramco slows diversification plans amid industry downturn: WSJ

  Oil company Saudi Aramco is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Aramco will review a $6.6 billion plan to add petrochemical output at its Motiva refinery in Texas, as well as a big natural-gas project with Sempra Energy in the same state, according to the report. (on.wsj.com/2QPWVDD)

  • WSJ (Paywall) - Saudi Aramco Slows Diversification Plans Amid Industry Downturn
  • Gulf News - Saudi Aramco to cut back on new $20b investment in Yanbu, preserve cash
• Saudi to allow foreigners to invest directly in debt instruments

  Saudi Arabia’s Capital Market Authority (CMA) said on Wednesday it will allow foreigners to invest directly in debt instruments, furthering open the Saudi market to outside investors. The market regulator said resident and non-resident foreigners would be able to invest in listed and non-listed debt instruments.

• Kushner discusses Palestinian negotiations with Saudi crown prince

  During the visit to Bahrain,  Manama refused to follow in the footsteps of the UAE and insisted that it would only normalise ties with Israel when regional power-house, Saudi Arabia, strikes a deal with Tel Aviv.

  • Arab News - Saudi Arabia's stance on Palestine 'remains unchanged'
• Saudi Arabia’s SABIC issues $1 billion in two-part bonds

  Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals firm, sold $1 billion in dual-tranche bonds on Thursday, as Gulf debt markets pick up after the summer break. SABIC sold $500 million of 10-year bonds and $500 million of 30-year Formosa bonds, a document issued by one of the banks leading the deal and seen by Reuters showed.

  • Bloomberg - Saudi Giant Sells Middle East’s Biggest Company Bond of 2020
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