MUST-READS

• Saudi Arabia’s Modern Mills IPO Is Covered Within Hours

  Investors snapped up all of the shares in Saudi Arabia’s Modern Mills for Food Products Co. initial public offering shortly after books opened, showing that demand for regional listings is still strong.

• Tiger Woods says PGA Tour does not need funding from Saudi Arabia’s PIF despite continued talks

  Tiger Woods was added as a sixth PGA Tour player director -- joining Webb Simpson, Patrick Cantlay, Peter Malnati, Adam Scott and now Jordan Spieth -- last fall. His responsibilities include helping the PGA Tour produce an overall vision and plan for the future, which is especially difficult at a time when LIV Golf continues to raid the Tour of its best players. In some ways, Woods was brought in to stem the tide.

• U.S. collaborates with allies, partners at Saudi-led Spears of Victory exercise

  Ninth Air Force (Air Forces Central)’s KC-135 Stratotanker aircraft and experts across the fields of command and control, security forces, and other critical operations deployed to the Royal Saudi Air Force’s Spears of Victory exercise Feb. 4-15, at King Abdulaziz Air Base. Spears of Victory includes eight countries and is one of the largest multinational exercises hosted by a U.S. partner in the region. The exercise provides opportunities to develop tactical proficiency, improve interoperability, strengthen military relationships and increase flexibility to address existing and emerging threats. The multilateral exercise builds confidence by familiarizing operators with a wide array of aircraft in various contingency scenarios.

• Employees in Saudi Arabia to enjoy a long weekend marking Kingdom’s Founding Day

  Employees in Saudi Arabia will get to enjoy an extended weekend next week as the Kingdom marks its third Founding Day holiday on Thursday, February 22. Saudi citizens and residents will therefore enjoy a three-day weekend, as the Kingdom’s weekend spans from Friday to Saturday.

• Employees in Saudi Arabia to enjoy a long weekend marking Kingdom’s Founding Day

  Employees in Saudi Arabia will get to enjoy an extended weekend next week as the Kingdom marks its third Founding Day holiday on Thursday, February 22. Saudi citizens and residents will therefore enjoy a three-day weekend, as the Kingdom’s weekend spans from Friday to Saturday.

• Opinion: What Iran wants — and fears

  Yet Iran must be careful about what its proxies do. When one of Iran’s collection of Iraqi Shiite militias, Kataib Hezbollah, earlier this year launched a drone attack on a US logistics center in Jordan, killing three US soldiers, it had gone too far. Iranian leaders rushed to insist they don’t want a broader war, especially with the United States. Kataib Hezbollah announced that it was suspending all military operations while complaining Iran ”does not know the nature our jihad,” meaning it was standing down on Iranian orders.

• No breakthrough in Gaza talks dents hopes of Palestinians in Rafah

  Palestinians jammed into their last refuge in Gaza voiced growing fear on Wednesday that Israel will soon launch a planned assault on the southern city of Rafah after truce talks in Cairo ended inconclusively. The talks in the Egyptian capital, involving the United States, Israel, Egypt and Qatar, ended without any sign of a breakthrough on Tuesday and no date was announced for the next meeting. The lack of agreement dealt a new blow to the more than one million Palestinians crammed into Rafah, next to the border with Egypt, where many are living in tent camps and makeshift shelters after fleeing Israeli bombardments elsewhere in Gaza.

• The energy transition would cost 20% more without China, analysis says

  Just how much would it cost to completely decouple from made-in-China clean tech products? According to a new analysis by energy consultancy Wood Mackenzie, the global energy transition would cost an extra $6 trillion—on top of the $29 trillion worth of capital expenditures it estimates would be required through 2050 to reach net-zero carbon emissions. That equates to an additional 20% of the original energy transition bill.

• Inside Johnny Depp’s Epic Bromance With Saudi Crown Prince MBS

  Over the past year, Depp has spent more than seven weeks in Saudi Arabia, staying in royal palaces and camps, traversing the country by yacht and helicopter, and even flying to London and back on MBS’s personal 747 for a quick trip to attend the Jeff Beck Memorial Concert at the Royal Albert Hall. In that time, Depp and MBS have become real friends. “They made a genuine connection,” says a friend of Depp’s. “It’s a shock to many of the people who know [Depp], but it’s what happened.” Insiders say Depp is now weighing a seven-figure annual contract to promote Saudi Arabia’s cultural renaissance.

• Saudi Arabia Snooker Masters: New tournament to offer £2m prize fund and become ‘fourth major’

  A newly-created Saudi Arabia Snooker Masters will offer a £2m prize fund and become the sport's 'fourth major', the World Snooker Tour has announced. The world's best players will travel to Riyadh at the end of August for the inaugural tournament. The prize pot makes it the second-richest event on the schedule, behind only the World Championship. It will be a ranking event open to all tour players, plus six local wildcards.

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