QUOTED

“We don’t rule out that there might be squeeze of liquidity later on, that’s why I am ready and stand ready to intervene.”

Ahmed al-KholifeySaudi Central Bank governor, on how the body is ready for any potential liquidity squeeze from Saudi Aramco’s IPO. Al-Kholifey is closely monitoring local banks after heavy demand for loans to buy the stock. [Reuters]

TOP STORY

ARAB YOUTH

Arab Youth are Concerned about Unemployment, Poll Finds

Saudi-youth

A recent Arab News — Arab Strategy Forum research study conducted by YouGov found that 55 percent of Arab youth believe corruption is the main problem in their country, but unemployment was close behind at 46 percent, according to Arab News.

In the Arab world, 65 percent of the population are under the age of 30.

The study interviewed 3,079 Arabic speakers aged 18 years and above across 18 countries in the Middle East to better understand their concerns, and to gauge their opinions on the intersections of Islam and politics in Arab life, Arab News said in a report.

[More from Arab News]

 

MORE TOP STORYLINES

Saudi Arabia 2020 budget forecasts spending at $272 billion

Via Aziz El Yaakoubi and Maher Chmaytelli in reuters.com : Saudi Arabia on Monday announced a 1.02 trillion riyals ($272.00 billion) budget for 2020, reducing state spending marginally.

How Florida base shooting could threaten US-Saudi training programs

Via Andrew Duehren in al-monitor.com : Congress already cut off funding for Saudi Arabia to participate in the International Military Training and Education Program (IMET). Graham, who chairs the Senate foreign aid panel, allowed Sen. Patrick Leahy, D-Vt., to include that provision in the 2019 annual spending bill.

Saudi Arabia Is Reviewing Its Plan for Energy Subsidy Cuts

Via Vivian Nereim and Yousef Gamal El-Din in bloomberg.com : Saudi Arabia is “reviewing its plan to cut domestic energy subsidies as it tries to balance its budget without hurting businesses that have relied on cheap power for a competitive edge.

“We have been asked by the government to re-study what would be the best pricing policy that we would adopt going forward,” Industry Minister Bandar Alkhorayef said in an interview with Bloomberg TV on Tuesday in Riyadh. The Energy Ministry, which is leading the project, aims to “strike the balance between how we can enable the industry and at the same time also be competitive.”

 

MORE ON THE KINGDOM AND BEYOND

Saudi Aramco IPO

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Saudi Arabian Finance Minister Mohammed Al-Jadaan discusses the recent $5 billion debt issuance, the state of the Saudi economy, and the prospect of an international...[via bloomberg.com]

 

T20

More efforts needed to bridge gender, generation gaps in labor market: Saudi conference

The two-day T20 Inception Conference brought together experts from all over the world to discuss a range of essential issues covering climate, energy, migration, youth,...[By Rashid Hassan via arabnews.com]

 

Saudi Bonds

Saudi Arabia Issues $5 Billion of Bonds as Gulf Tensions Ease

The kingdom issued $5 billion of debt, taking advantage of low borrowing costs globally. It’s seeking to plug part of its growing budget deficit by...[By Archana Narayanan and Matthew Martin via bloomberg.com]

 

Saudi Youth Development Survey of 2019

Youth make up over two-thirds of Saudi Arabia: Survey

Youth, categorized as individuals aged 0-34 years, make up 67.02 percent of the total population of Saudi Arabia, according to a report released by the...[By Matthew Amlôt via alarabiya.net]

 

Pensacola Shooting

At Florida base, a mix of relief, anxiety in Saudi shooting aftermath

With an FBI investigation underway, Navy security officer David Link still is not allowed to talk about what he saw when a Saudi gunman killed...[By Phil Stewart via reuters.com]

 

Security

Saudi Arabia to Screen Travelers From China After Virus Outbreak

Saudi Arabia will start screening passengers arriving from China and take other preventive measures following the outbreak of the new coronavirus in China, the kingdom's...[via nytimes.com]

 

Women in the Workforce

First military section for women introduced in Saudi Arabia

Under the initiative to incorporate more women into the field, previously announced in October 2019, women can now join the military as lance corporals, corporals,...[via thenews.com]

 

Study Abroad

From the field: The new student recruitment landscape in Saudi Arabia

The Saudi government began to wind down the KASP scholarship programme in 2016, and Saudi numbers in all major receiving countries began to drop off...[via icef.com]

 

Saudi Projects

Fifteen of the top projects currently shaping Saudi Arabia

The kingdom is pouring billions into a suite of gigaprojects, transport and mobility schemes, such as Riyadh Metro, designed to wean the country off its...[By Gavin Gibbon via arabianbusiness.com]

 

NEOM

Teneo Signs Up to Manage PR Unit of Saudi Mega-City

The New York-based firm’s duties include leading and staffing Neom’s PR unit to ensure that the development’s corporate messages and positioning are effectively communicated. It also...[By Kevin McCauley via odwyerpr.com]

 

Taxis

Saudi Arabia’s taxis go green

The green vehicles will be monitored and tracked to document quality of service and driver efficiency, equipped with screens that support both Arabic and English...[By Aseel Bashraheel via arabnews.com]

 

Earthquake

Small Earthquake hits Saudi Arabia, Iran

In Saudi Arabia, the earthquake was recorded at 10:27 pm local time. The magnitude of the quake was 3.9 on Richter scale....[via siasat.com]

 

GCC Summit

Iran, Yemen war likely to top GCC summit agenda

Subversive activities by Iran and the war in Yemen are likely to dominate the 40th GCC summit here on Tuesday. Custodian of the Two Holy Mosques...[via saudigazette.com.sa]

 

Iran

U.S. Sanctions Are Forcing Iran to Tighten Its Grip on Iraq

By the end of November, the pressure on Abdul-Mahdi was so intense that Iran could not protect him any longer. Iraq’s parliament quickly accepted his...[via theintercept.com]

 

India

Viewpoint: Are Indian unicorns too powerful?

India is home to one of the world's highest proportion of "unicorns"- unlisted companies with a valuation of more than $1bn (£778m). Technology policy researcher...[via bbc.com]

 

Lebanon

France presses Lebanon to form a government quickly

French Foreign Minister Jean-Yves Le Drian on Tuesday urged the Lebanese to form a new government swiftly or risk a financial crisis worsening and threatening...[By John Irish via reuters.com]

 

Turkey

Erdogan says Turkey aims to settle 1 million refugees in Syria offensive area

Turkey aims to settle one million Syrian war refugees in the area of northern Syria where it carried out a military incursion in October, President...[By Tuvan Gumrukcu via reuters.com]

 

Turkey

Erdogan says Turkey could send troops to Libya if requested

Turkish President Recep Tayyip Erdogan said Tuesday that Turkey could deploy troops in Libya, if the U.N.-supported government in Tripoli were to request such support. Erdogan’s...[via washingtonpost.com]

 

Energy

As climate change worsens, America blows past the world in oil and natural gas

America is poised to produce far more oil and natural gas over the next five years than any other country in the world, according to...[via axios.com]

 

Morocco

Sand hammams: Getting a sand bath in the Sahara Desert

Travelers are buried alive in sweltering hot sand in Morocco in the name of health and wellness....[By Monica Buchanan Pitrelli via cnbc.com]

 
 

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