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  • Saudi Exchange Plans to Start Single-Stock Futures Next Year

    Saudi Arabia’s stock exchange plans to introduce futures contract in single stocks in the first half of next year, according to its chief executive officer. The start of derivatives market will also help accelerate plans for an offering of shares in the bourse Khalid Abdullah Al Hussan said in an interview to Bloomberg TV. Index futures started to trade in the exchange on Aug. 30.

  • Saudi retailer BinDawood to make IPO on kingdom’s Tadawul exchange

    The share sale of BinDawood’s supermarket business will tap mainly local investors but the initial public offering will be filed as a so-called “Regulation S” offering, allowing foreign investors outside the U.S. to take part, as well as overseas subsidiaries of U.S. funds. “We have seen strong appetite from local investors, and investors from Europe,” CEO Ahmad AR. BinDawood told reporters on Monday.

  • Saudi Aramco May Need Big Changes to Keep Dividend Pledge

    Something has to give, but Aramco is signaling it won’t be the dividend, says Jim Krane, an energy studies fellow at Rice University’s Baker Institute.  The company paid $18 billion to shareholders for the second quarter even though it only earned $6 billion, borrowing the difference. CEO Amin Nasser slashed capital expenditure targets by a third to $25 to $30 billion over the coming year. Recent leaks from the company revealed it would save these billions by freezing downstream megaprojects in China, India and elsewhere.

  • Oman’s regional role in a time of challenge and change

    Oman has distinguished itself as a player that is able to maintain strong working relationships with countries across the Middle East, despite fierce rivalries and deep-set conflicts. The sultanate’s focus on balanced foreign policy, conflict resolution, and skillful mediation makes it unique among Arab governments.

  • Grand Ethiopian Renaissance Dam: A fight over the Nile is a preview of climate change diplomacy

    Ethiopia is the source of the Blue Nile, the river’s largest tributary, and the source of 86 percent of the water reaching Egypt after traveling through Sudan. Ethiopia’s government has dreamed of building a dam on the river for decades, but was consistently opposed by Egypt, the most powerful country in the region. In 2011, with Egypt still reeling and distracted from the recent overthrow of President Hosni Mubarak, Ethiopia began work on the GERD, near the border with Sudan, with a budget of $4.8 billion. When fully filled, likely after another four to six years, it will contain up to 74 billion cubic meters of water—the largest hydroelectric plant in Africa.

  • Baghdad heat is world’s climate change future

    “It’s getting hotter every year,” said Jos Lelieveld, an expert on the climate of the Middle East and Mediterranean at the Max Planck Institute in Germany. “And when you are starting to get above 50 degrees Celsius [122 degrees Fahrenheit] it becomes life threatening.”

  • Saudi stock exchange to launch environmental index with MSCI: CEO

    Saudi Arabia’s stock exchange (TADAWUL) plans to launch an environmental, social or governance (ESG) index in cooperation with global index provider MSCI by the fourth quarter of this year or first quarter of 2021, the bourse’s chief executive said on Wednesday. The index will include at least 70 Saudi listed companies and will be based on MSCI standards, Khalid Al-Hussan said at a virtual event.

  • Efforts on to change attitude toward blood donation in Saudi Arabia

    “Overall, the donor education program is limited in Saudi Arabia, which means donor centers rely on replacement donors,” Al-Saweed said. Replacement donors make up 40 to 60 percent of volunteers, he said — a figure the Health Ministry working to increase to 100 percent.

  • Saudi Aramco, other oil giants join efforts to mitigate climate change

    In a report on the organisation, it was made clear that the coalition intends to reduce average carbon intensity of upstream oil and gas operations from 23kg of CO2 equivalent per barrel in 2017 to to 20-21kg in 2025.

  • US Democratic Party Rules Out Regime Change In Iran And Supports Nuclear Deal

    The Iran policy part of a new draft of Democratic Party's 2020 platform which calls for "a responsible end to forever wars" has received mixed reactions in the United States and worried some in Israel, while politicians in Iran have remained silent about It. Even compared to the party's own platform in 2016, the new draft marks a shift in attitudes toward Iran. The 80-page 2020 Democratic Party platform opposes regime change in Tehran. According to the Politico, Bernie "Sanders staffers pointed to some anti-interventionist language in the draft as a victory, particularly compared to the 2016 platform’s foreign policy proposals, which they viewed as overly hawkish."