MUST-READS

• Man City’s De Bruyne not ruling out Saudi move
  Manchester City midfielder Kevin De Bruyne is keeping an open mind over a potential move to the Saudi Pro League, the 32-year-old Belgian said, as he prepares to enter the final year of his contract with the Premier League champions.
  The Belgium captain has six Premier League crowns and one Champions League title, as well as two FA Cups and five League Cups to his name since his 2015 switch from German side VfL Wolfsburg.

• Saudi Exchange Publishes Guidelines for Offering and Listing of Foreign Companies

  The Saudi Exchange published its guideline manual for foreign companies offering and/or listing on its Main Market. While current capital markets regulations and rules in Saudi Arabia permit such offerings, the lack of a clear criteria and process led to uncertainty among potential non-Saudi issuers, and may have deterred them from pursing listings or required them to restructure their operations in order to incorporate in Saudi Arabia before listing. In fact, to date there have been no cross-listings on the Saudi Exchange and only one dual-listing, which was the concurrent and dual-listing of Americana Restaurants in Saudi Arabia and the United Arab Emirates in December 2022.

• Lebanon’s Dangerous Campaign against Refugees

  Lebanon hosts 1.5 million Syrian refugees. It wants to get rid of most of them. Lebanese sovereignty is important, but so are the country’s humanitarian obligations and Lebanon’s role in regional security. A recent government scheme to deport Syrians in Lebanon who were not registered as refugees with the United Nations—nearly half of the 1.5 million refugees in Lebanon—may be a first step, and it is a potentially dangerous one. Lebanon’s Syrian refugee problem soon could become a regional problem, and neither the Middle East nor its Mediterranean neighbors need another one of those.

• Saudi Aramco holding LNG talks with US firms Tellurian, NextDecade, sources say
  Oil giant Aramco (2222.SE), opens new tab is in talks with U.S. firms Tellurian (TELL.A), opens new tab and NextDecade (NEXT.O), opens new tab on two separate liquefied natural gas (LNG) projects as the Saudi firm seeks to boost its gas trading and production, three sources close to the talks told Reuters.
  U.S. gas production has boomed over the past decade with oil majors and Aramco's rivals such as Qatar Energy competing to build several projects to export gas to Europe and Asia.

• Rock Art Found in This Saudi Arabian Cave Offers ‘Rare Glimpse’ Into Ancient Human Life

  Based on rock art and animal bones found at Umm Jirsan, the research team believe that the lava tube would have been a key location for livestock herders. The extensive cave art includes six animal herding scenes, 23 identifiable depictions of sheep, 15 of ibex, seven of goats, and two of cattle.

  The evidence found at Umm Jirsan dates from the Neolithic (10,000 B.C.E.) to the Chalcolithic/Bronze Age (around 2,000 B.C.E.). The artifacts and rock art found at the site demonstrates that the site was occupied repeatedly and periodically by human groups for at least 7,000 years.

• U.S. expected to join E3 in Iran censure resolution

  The United States and three European powers who were part of the 2016 Iran nuclear deal are expected to jointly circulate a resolution censuring Iran for insufficient cooperation with nuclear safeguards at the International Atomic Energy Agency (IAEA) Board of Governors meeting this week, despite U.S. concerns that the action could provoke an Iranian overreaction and will not result in a clear policy outcome.

• Saudi Flyadeal looks at adding Airbus or Boeing wide-body jets

  Saudi budget airline flyadeal is studying a possible order for between 10 and 20 wide-body jets to carry more passengers, and could make a decision by the end of the year. The low-cost subsidiary of state carrier Saudia is in the early stages of comparing the Boeing 787 and Airbus A330neo, CEO Steven Greenway told Reuters. It has not yet started a formal competition between planemakers, he added.

• Saudi Arabia, US discuss Biden’s Gaza ceasefire proposal

  Saudi Foreign Minister, Prince Faisal Bin Farhan, received a phone call from US Secretary of State, Antony Blinken, during which they explored the latest developments in Gaza, and Biden’s proposal for a ceasefire and hostage swap between Hamas and Israel, the Saudi Foreign Ministry said in a statement.

  • U.S. Department of State - Secretary Blinken’s Call with Saudi Foreign Minister Faisal bin Farhan Al Saud
• Saudi Communications and Information Technology Exports Surpass SAR6 Billion in 2023, Backed by a Package of Programs and Capabilities

  The services export sector is one of the promising sectors contributing to the increase of Saudi non-oil exports. In light of this, the Saudi Export Development Authority (Saudi Exports) employs its efforts and capabilities to support and empower this sector by providing facilitated means to enhance the reach of Saudi services to new markets and expand them, thereby achieving national targets and increasing the percentage of non-oil exports. Services exports refer to the value of services exchanged between residents and non-residents in an economy, including services provided to customers from outside the economy offering the service.

• Riyadh Air set to expand partnerships with more airlines

  Riyadh Air is expanding its network of partnerships with established carriers around the world as Saudi Arabia’s newest airline seeks to build global ties ahead of its market debut next year.

  The airline, which is owned by Saudi Arabia’s Public Investment Fund, is close to announcing an accord with a major southeast Asian carrier in coming days, according to people familiar with the plan. Riyadh Air is also working on agreements with an Indian carrier for long-haul flights as well as a US airline, said the people, who asked not to be identified discussing private deliberations.

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