MUST-READS

• Gas Stations
  Ministry appoints two new firms to run gas stations on Saudi regional roads

  By increasing the number of qualified companies, which now totals 20, Al-Jammaz said the ministry aimed to create positive competition among site operators through the provision of excellent and high-quality services to traveling customers. The deputy minister added that the stations and service centers complemented each other and as well as providing fuel offered mosques, restrooms, restaurants, and other facilities.

• Saudi Aramco
  Reliance’s Mukesh Ambani and Saudi Aramco Accelerate Stake Talks

  Reliance Industries Ltd.’s talks to sell a minority stake in its oil-to-chemical division to Saudi Aramco have been gathering pace in recent weeks, according to people familiar with the matter. Aramco officials and bankers on the deal have been working at Reliance’s offices in Mumbai for due diligence this month, according to the people, who asked not to be identified as the information isn’t public. Both parties are trying to overcome differences over the deal’s structure, which had stalled the process last year, Bloomberg News previously reported.

• Technology
  Saudi space program to establish national training base

  The Space Generations Program (Ajyal) launched by the Saudi Space Commission will contribute towards establishing a national base for human capital in the space sector, said Abdul Aziz Al Al-Sheikh, CEO of the Saudi Space Commission. The program, he said, encourages interest in scientific research and learning various sciences in the areas of innovation: Science, Technology, Engineering, Mathematics (STEM).

• China Virus
  Saudi Arabia to supply vital equipment to fight COVID-19 in China

  The King Salman Humanitarian Aid and Relief Centre (KSrelief) has been tasked with providing assistance in an initiative coordinated with the Embassy of People's Republic of China in the kingdom.  Saudi Arabia will supply 1,159 medical devices including ultrasound machines, non-invasive ventilators, defibrillators, patient monitors, infusion pumps, injection pumps and continuous renal replacement therapy. Medical protective masks and isolation suits will also be provided.

• Riyad Bank
  Saudi Arabia’s Riyad Bank starts marketing 10-yr dollar sukuk

  The bank hired JPMorgan, Riyad Capital and Standard Chartered to lead the deal. First Abu Dhabi Bank and HSBC are also involved in arranging the potential debt sale, which is expected to close later on Tuesday. The Tier 2 subordinated sukuk sale is part of a $3 billion issuance programme.

• Saudi Stockpile
  Saudi Arabia’s crude oil stockpiles fall in Dec – JODI data

  Saudi Arabia has been drawing from its huge oil inventories after attacks on its oil facilities in September temporarily knocked out more than half of its output. Following the attacks the kingdom managed to maintain supplies to customers, partly by drawing from its oil stockpiles, and was able to swiftly restore its oil production capacity.

• Red Sea Film Festival
  Saudi Arabia’s Red Sea Film Festival reveals lineup

  The Red Sea Film Festival will run from March 12 to 21 and will screen 107 features and short films, including a lineup of 16 films in-competition, seven non-competition films, 11 Saudi features, and 13 short films for the shorts competition, 23 films for best of year category, and 17 experimental films for the Tajreeb category, which is based on local narratives of Saudis and non-Saudis living in the Kingdom.

• Gas Prices
  Saudi Arabia is increasing local petrol prices, here’s what you need to know

  Starting this month, local fuel prices are going to be updated on a monthly basis rather than the usual quarterly announcement. The kingdom will now be announcing changes to local fuel prices on the 10th day of every month. This comes as oil prices continue to heavily fluctuate on a global level which in turn drastically affects the Gulf nation's pricing.

• Agriculture
  Two BRF poultry plants in Brazil suspended from exporting to Saudi Arabia

  Two plants in Brazil’s Paraná state operated by food processor BRF SA have been suspended from exporting poultry to Saudi Arabia, dealing a blow to the company’s business activities in an important export market.

• Franchising
  Saudi Arabia to introduce new franchising laws

  The franchisor will be required under the new law to disclose all relevant information, including employee numbers, profits and losses, and the number of its outlets that have closed. The regulations will increase entrepreneurs’ awareness of their rights and may encourage them to acquire a franchise, committee chairman Muhammad Ibrahim Al-Mojel said.

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