QUOTED

“For years, Saudi Arabia has been the region’s largest economy, boasting consumers of the highest purchasing power and a young tech-savvy population; but recent developments make this an especially opportune time to move into the Saudi tech scene. If you’re looking for the emerging hub of digital innovation and entrepreneurship in the MENA region today, you’ll find it in Saudi Arabia.”

Omar Christidis, ArabNet Founder and CEO, at the launch of the 8th edition of the Arabnet Riyadh tech-focused event.

TOP STORY

SAUDI ARAMCO IPO

Saudi Aramco Soars 10% in Debut in ‘Vindication’ for Company

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Saudi Aramco’s shares rose SAR 3.20, or 10% (the daily limit) to 35.2 riyals in Riyadh, raising the company’s valuation to $1.88T.

The debut, by any measure, is a success, and officially makes Saudi Aramco the world’s most valuable company. [more]

 

MORE TOP STORYLINES

Aramco IPO to help Saudi economy shift from oil: finance minister

Via Davide Barbuscia and Marwa Rashad in reuters.com : “The proceeds will be used largely, maybe not totally, in the local economy, in projects where the PIF will be the first mover which then basically pulls more private sector participation … so the money will remain in the system mostly,” Finance Minister Mohammed al-Jadaan told Reuters.

Why do Saudi pilots train at US military sites such as Pensacola?

in politifact.com :  The U.S. military hosts more than 5,100 foreign students from 152 countries at military sites around the country, a Pentagon spokesman told PolitiFact. That includes 852 Saudis.

Gulf leaders meet in Saudi Arabia

Via Aya Batrawy in stripes.com: King Salman, who greeted Gulf leaders as they arrived for the summit, was shown sharing a traditional coffee with Qatari Prime Minister Sheikh Abdullah bin Nasser Al Thani minutes before the meeting began.

 

MORE ON THE KINGDOM AND BEYOND

Saudi Aramco IPO

Interview at Davos: Aramco International Listing ‘Still on the Cards,’ Saudi Arabia Finance Minister Says

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]

 

Iran in the Region

US suspects Iran is behind increasingly sophisticated rocket attacks on US bases in Iraq

The US government believes that Iran is behind a series of increasingly sophisticated rocket attacks on joint US-Iraq military facilities in Iraq, several US officials...[By Barbara Starr and Ryan Browne via cnn.com]

 

U.S.-Turkey

The Pentagon Isn’t Sure What to Do with Turkey’s Undelivered F-35s

Congress is offering the Defense Department the option to purchase Turkey's F-35 Joint Strike Fighters and giving the defense secretary discretion to spend up to...[By Oriana Pawlyk via military.com]

 

Afghanistan

Afghanistan’s Karzai says American cash fed corruption

In an interview with The Associated Press, Hamid Karzai responded to findings from a trove of newly published documents that successive U.S. administrations misled the...[By Kathy Gannon via militarytimes.com via AP]

 

Iran

Iran says it foiled ‘very big’ foreign cyber attack

Iran has foiled a major cyber attack on its infrastructure that was launched by a foreign government, the Iranian telecoms minister said on Wednesday, two...[By Reuters Editorial via reuters.com]

 

Saudi Aramco Attack

UN Investigators Unable to Trace Saudi Aramco Attack to Iran

United Nations investigators dispatched to Saudi Arabia after drone and missile attacks on state oil company Aramco in September determined they couldn’t yet verify U.S....[By David Wainer via bloomberg.com]

 

Libya

As Rivals Fight for Control of Libya, Erdogan Says Turkey May Jump In

President Recep Tayyip Erdogan said Turkey might send troops to Libya to counter Russian-backed militia forces....[By David D. Kirkpatrick via nytimes.com]

 

Chevron

Chevron Eyes $11B Writedown Amid Weak Gas Prices

Wirth has made U.S. shale, particularly in the Permian Basin, the centerpiece of his global strategy, as opposed to riskier ventures elsewhere. The writedown also...[By Kevin Crowley via rigzone.com]

 
 

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