Russia, Turkey Hold Joint Patrol in Northern Syria

Turkish officers talk with Russian officers near Turkish-Syrian border. (AP)
Turkish officers talk with Russian officers near Turkish-Syrian border. (AP)
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Russia, Turkey Hold Joint Patrol in Northern Syria

Turkish officers talk with Russian officers near Turkish-Syrian border. (AP)
Turkish officers talk with Russian officers near Turkish-Syrian border. (AP)

Russian Military Police held on Tuesday a joint patrol with Turkish forces in the eastern countryside of northern Syria’s city of Ain al-Arab (Kobani).

The patrol was the 92nd between the two forces in the region since both countries signed a ceasefire agreement in 2019.

It comprised eight Russian and Turkish military vehicles and set off from Ashma village, nearly 20 km west of Kobani.

The Turkish military vehicles then returned to Turkey through the gate near Gharib village, while the Russian military vehicles returned to their position near the town of Sirrin, south of Kobani.

Separately, the Turkish Defense Ministry announced the killing of 12 members of the Kurdish People’s Protection Units (YPG) that were allegedly plotting a terror attack in areas held by Turkish forces and allied Syrian factions in northern Syria.

The killed members of the YPG, the largest component of the US-backed Syrian Democratic Forces (SDF), were neutralized after they opened fire into Turkey’s Operation Euphrates Shield zone in northern Syria, said the ministry in a statement on Tuesday.



Saudi Minister of Finance Approves 2025 Annual Borrowing Plan

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)
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Saudi Minister of Finance Approves 2025 Annual Borrowing Plan

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)

Saudi Minister of Finance Mohammed Abdullah Al-Jadaan approved on Sunday the Annual Borrowing Plan for the fiscal year 2025, following its endorsement by the Board of Directors of the National Debt Management Center.

The plan highlights key developments in public debt for 2024, initiatives related to local debt markets, and the funding plan and its guiding principles for 2025, in addition to the 2025 issuances’ calendar for the Local Saudi Sukuk Issuance Program in Saudi Riyal.

According to the plan, the projected funding needs for 2025 are estimated at approximately SAR139 billion. The amount is intended to cover the anticipated budget deficit of SAR101 billion for the fiscal year 2025, as outlined in the Ministry of Finance’s Official Budget Statement, and the principals’ repayment of the debts maturing in the current year, 2025, amounting to approximately SAR38 billion.

To boost the sustainability of the Kingdom's access to various debt markets and broaden the investor base, Saudi Arabia aims in 2025 to continue diversifying local and international financing channels to efficiently meet funding needs.

This will be achieved through the issuance of sovereign debt instruments at fair pricing, guided by well-defined and robust risk management frameworks.

Additionally, the Kingdom plans to benefit from market opportunities by executing private transactions that can promote economic growth, such as export credit agency financing, infrastructure development project financing, capital expenditure (CAPEX) financing, and exploring tapping into new markets and currencies based on market conditions.