MUST-READS

• Banking and Finance
  Saudi Arabia’s Riyad Bank sells $1.5 billion 10-yr Islamic bonds

  Saudi Arabia’s Riyad Bank has sold $1.5 billion in 10-year dollar sukuk, callable after five years, at 180 basis points (bps) over five-year mid-swaps, a document showed on Tuesday. The bank garnered more than $7.8 billion in orders for the sukuk, or Islamic bonds, the document said. It tightened the spreads after it had initially started marketing the bonds at around 225 bps over mid-swaps earlier on Tuesday.

• Digital Payments
  Saudi Arabia eyes digital boost with STC Pay tie-up

  The state’s underlying financial infrastructure is provided by Saudi Payments Company, underpinning interoperability across digital and traditional providers. It is owned by the country’s monetary authority and, among its goals, is to advance the use of electronic payment systems. Saudi Telecom Company subsidiary STC Pay noted the deal would allow it to partner with various financial and technology entities, and contribute to wider initiatives to reduce reliance on physical cash in the country.

• Gulf Security
  US civilian flights to resume over Persian Gulf

  The U.S. Federal Aviation Administration said Saturday that American civilian flights can resume operations over much of the Persian Gulf and the Gulf of Oman region, loosening restrictions announced five weeks ago amid heightened tensions between the U.S. and Iran. The FAA said it made the decision because Iran has de-escalated its military posture, reducing the danger to U.S. civil aviation operations.

• Iraq
  Aging Shiite cleric a powerhouse in Iraq. What comes after?

  The Iranians “don’t want another al-Sistani ... They don’t want somebody who is strong, who overshadows their own supreme leader,” said Abbas Kadhim, director of the Iraq Initiative at the Atlantic Council. While none of al-Sistani’s potential successors are “in Iran’s pockets,” Tehran can benefit from a weak figure.

• Qatar Subs
  Qatar To Acquire Submarines In New Twist In Gulf States’ Big Naval Expansion

  Currently Iran is the only submarine operator in the Arabian Gulf, also known as the Persian Gulf, save for the occasional U.S. Navy or European submarine. Two of Qatar’s neighbors, Saudi Arabia and the United Arab Emirates, both have stated needs to acquire submarines.

• Energy
  Opinion: Arabs Should Welcome a Future With Less Oil Wealth

  Countries like Egypt, Morocco, Tunisia and Jordan already possess diversified export structures, with non-oil goods constituting the bulk of what they export. They have also developed strong trade, investment and tourism connections with powerful partners in the European Union and the U.S. For Morocco and Tunisia, lower oil prices would boost their position as energy importers and as exporters of manufactured goods.

• Taliban Talks
  Taliban says US peace deal to be signed at February end

  Abdul Salam Hanafi, a senior Taliban leader and member of the political commission in Doha, Qatar, said in a video message shared with journalists that after negotiations, “both sides have initiated the final draft of the peace agreement. Now talks are concluded.” This is the first formal statement released by the Taliban since the United States announced a peace deal with the movement on Friday.

  • BBC - US-Taliban talks: A prelude to all-encompassing Afghan deal?
• Oil Markets
  Oil drops below $57 on coronavirus impact and OPEC+ delay

  Oil fell below $57 a barrel on Tuesday, pressured by concerns over the impact on oil demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market.

• Egypt
  Billionaire Sawiris Hopes to Join Egypt Gold Rush as Rules Eased

  One of Egypt’s richest men has long coveted a role in his nation’s gold-mining industry. Now, a shakeup in regulations and a potential auction of new licenses could give Naguib Sawiris a shining opportunity. The Egyptian government “already started talks with us as well as other companies to promote the new tender,” Sawiris, the chairman of La Mancha Holding S.a.r.l., said in a phone interview. “We are willing to participate in any area that could be promising.” He didn’t specify which of the firms he’s involved with would submit bids.

• Libya
  With Libya Still at War, E.U. Agrees to Try Blocking Weapons Flow

  The European Union agreed on Monday to launch a new naval and air mission to stop more arms reaching the warring factions in Libya, overcoming initial objections from Austria and Hungary, which feared the ships might attract migrants and enable more of them to reach Europe.

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