QUOTED

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 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]

 

TOP STORY

Pensacola Shooting Puts U.S.-Saudi Relations in Spotlight; Trump Speaks with King Salman and Crown Prince

trump-saudi

A Saudi soldier in training in the United States opened fire on a naval base in Pensacola, Florida on Friday, killing three and wounding 12.

Second Lt. Mohammed Saeed Alshamrani was then killed by a sheriff’s deputy who responded to the attack. The attack shocked Saudis and Americans alike.  [more]

 

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

Commentary: Israel-Iran Confrontation Forces Gulf Powers to Choose Sides

Saudi Arabia and other oil-rich Persian Gulf states have tried to avoid taking a position on America’s geopolitical rivalries in recent years,...[By Summer Said and Stephen Kalin via wsj.com]

 

Saudi Arabia Moves Closer to $1 Billion Barrick Pakistan Deal

Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with...[By Dinesh Nair, Matthew Martin, and Thomas Biesheuvel via bloomberg.com]

 

Mobile esports reaches new heights in 2024 with a boost from Saudi Arabian investment

It’s shaping up to be a banner year for the mobile esports industry, with an unprecedented amount of activity in the space in 2024. The...[via digiday.com]

 

Saudi Energy Giant ACWA Power Secures $80 Million Loan From Bank Of China For Uzbekistan Solar Drive

Saudi-based ACWA Power recognized as the world’s largest private water desalination company and a frontrunner in energy transition with a focus on green hydrogen, secured...[By Pooja Chandak via solarquarter.com]

 

An uneasy alliance of Arab states helped defend Israel from Iran. Their resolve may soon be tested.

“Those Arab countries are in a very critical situation,” said Oraib Al Rantawi, director of the Al Quds Center for Political Studies, a think...[via nbcnews.com]

 

This Lava Tube in Saudi Arabia Has Been a Human Refuge for 7,000 Years

When ancient humans pushed into the Arabian Peninsula, they found a world marked by magma. Swaths of it once erupted from volcanoes, leaving a landscape...[By Robin George Andrews via nytimes.com]

 

Saudi Arabia’s Barn’s reaches 700 stores ahead of planned global expansion

Alongside further expansion in Saudi Arabia – the largest branded coffee shop market in the Middle East – Barn’s is also expected to...[via worldcoffeeportal.com]

 

Saudi Arabia’s private sector workers grow to 11.2M in March

The total number of workers in the Saudi private sector reached 11.24 million in March 2024, the National Labor Observatory said.   The total number of nationals working in private-sector entities stood...[via argaam.com]

 

Saudi Arabia plans to tap Islamic bond market to raise funding for Neom

Saudi Arabia is looking to raise over a billion dollars for the Neom megacity project from the sale of Islamic bonds, following reports that ambitions for...[via middleeasteye.net]

 

$410 billion in investments propel Saudi Arabia’s mining sector growth

Saudi Arabia’s mining sector is undergoing a significant transformation and is gearing up to become one of the key pillars of economic diversification efforts outlined...[By Yara Abi Farraj via economymiddleeast.com]

 

Sand to Sky Episode 1: Inside the exciting future of Saudi Arabia’s Diriyah

The first episode of Sand to Sky puts the spotlight on the City of Earth’s experiential development journey ...[via arabianbusiness.com]

 

Saudi Arabia’s air transport sector sees 26 percent passenger growth, exceeding 112 million in 2023

The air transport sector in Saudi Arabia achieved in 2023 remarkable growth, as announced by the General Authority of Civil Aviation (GACA). Passenger traffic...[By Elias Al Helou via economymiddleeast.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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