Happy Monday!☀️

Saudi Arabia has announced a $3.4 billion program 💼📉 to streamline its public sector workforce, aligning with Vision 2030 🌟 goals to diversify the economy and enhance private-sector roles. Meanwhile, the U.S. State Department has frozen foreign aid 🌍❄️ worldwide following an executive order signed by former President Trump, sparking concerns over global partnerships and humanitarian impacts. On the energy front, Saudi Arabia 🇸🇦 is looking to expand its exports 🚢, including nuclear energy ⚛️, as highlighted by Al-Jubeir 🗣️, reinforcing its position in global markets. These developments reflect the Kingdom's drive for economic transformation 💡 and geopolitical influence 🌐.

Stay updated as we track these major shifts shaping the region and beyond!🌍✨

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Saudi Arabia Unveils $3.4 Billion Program to Trim Public Sector Workforce 💼📉

📰 What is it about?

• Saudi Arabia has announced a major initiative to reduce the number of unproductive government employees, offering cash incentives totaling 12.7 billion riyals ($3.4 billion) to encourage voluntary resignations.

💡 Why it matters?

• The three-year “Golden Handshake” program aims to pave the way for a more efficient public sector aligned with the kingdom’s digital transformation goals.

• The initiative aligns with the government’s target of reducing unemployment from 7.5% to 5%.

• The move is expected to alleviate the financial strain of civil servant wages, which currently account for 44% of the 2025 budget.

🔜 What’s next?

• As part of its broader economic reforms under Vision 2030, Riyadh also plans to boost private sector employment for Saudi citizens, who make up 2.8 million of the workforce.

• This bold restructuring effort underscores Saudi Arabia’s commitment to reshaping its economy and creating a more dynamic labor market.

Markets

US State Department Freezes Foreign Aid Worldwide Following Trump Executive Order

📰 What is it about?

• The U.S. State Department has frozen nearly all foreign assistance worldwide, effective immediately, following President Donald Trump’s sweeping executive order issued earlier this week to suspend aid for 90 days. The move halts billions of dollars in funding from the State Department and the U.S. Agency for International Development (USAID), leaving global humanitarian and development efforts in turmoil.

💡 Why it matters?

• The directive halts all ongoing foreign assistance programs and suspends the approval of new aid, except for emergency food assistance and foreign military financing for Israel and Egypt.

• Other key recipients, such as Ukraine and Taiwan, were not mentioned as exemptions, raising concerns about the broad reach of the freeze.

• Foreign aid, which has long been a target of criticism from Republicans and Trump administration officials, accounts for a small fraction of the U.S. budget.

🔜 What’s next?

• The freeze disrupts “critical life-saving work,” including clean water distribution, basic education, anti-human trafficking efforts, and access to medication for children and disease-stricken populations.

• The world waits to see how the Trump administration's aid policy review will reshape the future of U.S. foreign assistance.

💭Quote of the day:

"Success is walking from failure to failure with no loss of enthusiasm." – Winston Churchill

Saudi Arabia 🇸🇦 Eyes 👀 Expanded Energy Exports 🚢, Including Nuclear Energy ⚛️, Says Al-Jubeir 🗣️

📰 What is it about?

• Saudi Arabia aims to diversify and expand its energy exports, including oil, gas, electricity, solar, water, and nuclear energy, according to Minister of State for Foreign Affairs and Climate Envoy Adel Al-Jubeir. Speaking at a dialogue session hosted by the Saudi House at the World Economic Forum in Davos, Al-Jubeir highlighted the Kingdom's ambition to harness its uranium reserves, estimated at 1-4% of global reserves, for energy production.

💡 Why it matters?

• To benefit fully from the industries, jobs, and profits associated with these resources.

• Saudi Arabia, one of the world’s largest energy producers, is striving to lead in the global energy market by exporting various energy products while ensuring value addition through local industries.

• Al-Jubeir’s remarks underscore Saudi Arabia's commitment to leveraging its energy sector to drive economic growth and establish itself as a major player in the global transition to sustainable and diverse energy sources.

🔜 What’s next?

• Increased Government and Private Sector Collaboration 🤝

• Expansion in Energy field

• Developing the nuclear program to generate energy and transform uranium into high-value fuel.

🔍In other news…

1. The Federal Tax Authority (FTA) has announced that failure to pay corporate tax on time will result in a penalty of 14 percent per annum, calculated monthly on the unpaid amount. The penalty will start accruing from the day after the payment deadline, the UAE's state-run WAM news agency reported.

2. 💸 War comes at a price—Israel faces $67B in economic losses, with tourism, construction, and credit ratings all hit hard. Is the cost too high?

The Latest from the Smashi Business Studio

Smashi Business Show: 🌍💰 Trump Seeks $1T from Saudi Arabia 🇺🇸🇸🇦; Prince Alwaleed’s KHC Eyes TikTok 📱👑

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Here’s to a productive week ahead! 💪

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