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Trump nominates Scott Bisent as Treasury Secretary

US President-elect Donald Trump chose Key Square Group founder, hedge fund executive, and prominent collector

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President-elect Donald Trump has chosen Scott Bessent, founder of Key Square Group, a hedge fund executive, and a top fundraiser for his campaign, to be Treasury Secretary.

Trump said in a statement: “I am pleased to nominate Scott Bisent to serve as the 79th Secretary of the Treasury of the United States. Scott is widely respected as one of the world’s foremost international investors, geopolitical strategists, and economists. Scott’s story is the story of the American Dream.”.

Scott was born in Conway, South Carolina in 1962. Due to his family's economic anxieties, he got his first summer job at the age of nine. He attended Yale University and graduated in 1984. Scott was also an assistant professor of economic history at the same university.

Scott is an American investor and educator. He founded and heads the Key Square Group and manages a number of diversified operating companies in industries including agriculture, hospitality, publishing and real estate. He has worked in investment management for more than 35 years.

His philanthropic work includes financial and sports literacy programs, and he and his family donated the McLeod Rehabilitation Center at Shriners Children's Hospital in Greenville, South Carolina. Bisent is also a member of the Council on Foreign Relations and the Economic Club of New York.

Bisent has been involved in some of the biggest and most profitable deals in hedge fund history, including short selling of British pounds and Japanese yen, the restructuring of Argentine debt, and the liquidation of Italian MF Global bonds.

NBC News reported that if Bessent's nomination is approved by the Senate, he will take over the fiscal policies of the U.S. economy, which has withstood high inflation rates in recent years.

She noted that Bessent would be tasked with implementing any tax cuts that the Republican-controlled Congress might seek to enact, and with the president-elect proposing large tariffs on imports from various countries around the world, the new treasury secretary would also have to manage relations with finance ministers in other countries who might choose to respond by imposing similar tariffs.

The Saudi News Network first launched on Twitter via its official account, @SaudiNews50, and quickly became one of the Kingdom's leading independent news sources, thanks to its fast and reliable coverage of major local and international events. Due to the growing trust of its followers, the network expanded by launching its website, a comprehensive news platform offering regularly updated content in the fields of politics, economics, health, education, and national events, presented in a professional style that meets the public's expectations. The network strives to enhance public awareness and provide accurate information in a timely manner through on-the-ground reporting, in-depth analysis, and a specialized editorial team, making it a trusted source for anyone seeking up-to-the-minute Saudi news.

Politics

Trump gives Iran 10 days: nuclear deal or dire consequences

Trump gives Iran a 10-day deadline to reach a viable deal amid a US military buildup. Learn about the details of the Geneva negotiations and the mutual threats between Washington and Tehran.

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Trump gives Iran 10 days: nuclear deal or dire consequences

In a remarkable development and an indication of escalating tensions between Washington and Tehran, US President Donald Trump issued a strongly worded warning to the Iranian leadership, giving them a deadline of no more than ten days to reach what he described as a “viable deal,” otherwise Tehran would be exposed to “bad things” and dire consequences, coinciding with the continued US military buildup in the Middle East region.

Details of the deadline and US threats

President Trump's remarks came during the inaugural meeting of the "Peace Council" in Washington, D.C., where he expressed the difficulty of reaching a quick agreement with Iran, noting that history has proven negotiations with Tehran are not easy. Trump stated clearly, "We have to make a worthwhile deal, or bad things will happen... We may have to go a step further, or we may not. You'll probably find out in the next ten days." This statement has put the region on tenterhooks, awaiting developments in the coming days.

Behind the scenes of the Geneva negotiations and the Iranian position

These threats coincide with the second round of indirect talks between the United States and Iran in Geneva, which concluded with both sides declaring their intention to continue the dialogue despite the complexities. For its part, Tehran revealed that it had prepared a draft framework to advance these negotiations, while simultaneously maintaining its sovereign right to uranium enrichment, an issue that has long been a stumbling block to international understandings with the Islamic Republic.

General context: Maximum pressure policy

This warning cannot be separated from the general context of US policy towards Iran, which has been characterized by a “maximum pressure” strategy since Washington’s unilateral withdrawal from the 2015 nuclear agreement. Through this strategy, the US administration seeks to force Tehran to sit at the negotiating table under new conditions that address not only the nuclear program, but also the ballistic missile program and Iran’s regional influence, which Tehran rejects outright, considering it an infringement on its national security.

Military buildup and the language of force

To bolster its negotiating position, Washington went beyond diplomatic pronouncements, resorting to a show of military force. Reports confirmed the deployment of an aircraft carrier hundreds of kilometers from the Iranian coast, the dispatch of another carrier to the region, and the deployment of squadrons of advanced warplanes and tens of thousands of troops to surrounding regional bases. This military buildup sends a clear message: the military option remains on the table should diplomacy fail.

The repercussions of this situation on the stability of the region

This escalation is raising widespread concerns both regionally and internationally, as any potential military confrontation, or even the “bad things” Trump has threatened, could destabilize the vital Gulf region, a crucial hub for global energy supplies. Political and economic circles are watching the ten-day deadline with bated breath, as its outcome could shape the relationship between the two countries and the future of security in the Middle East for a long time to come.

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The Foreign Minister receives a message from Russia on the occasion of the centenary of relations

The Foreign Minister received a message from his Russian counterpart on the occasion of 100 years of Saudi-Russian relations. Learn more about the meeting and the history of the strategic partnership between the two countries.

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The Foreign Minister receives a message from Russia on the occasion of the centenary of relations

In a move to strengthen the historic diplomatic ties between the Kingdom of Saudi Arabia and the Russian Federation, His Royal Highness Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, received a written message from His Excellency Sergey Lavrov, Minister of Foreign Affairs of the Russian Federation. This message comes as the two friendly countries celebrate the 100th anniversary of the establishment of diplomatic relations, reflecting the depth of their partnership and ongoing cooperation over the decades.

Details of the diplomatic meeting in Riyadh

The message was received on behalf of His Royal Highness the Minister of Foreign Affairs by His Excellency the Deputy Minister of Foreign Affairs, Engineer Waleed bin Abdulkarim Al-Khuraiji, during his meeting today, Thursday, at the Ministry's headquarters in Riyadh, with the Ambassador of the Russian Federation to the Kingdom, Sergey Kozlov. The meeting took place in a cordial atmosphere, during which congratulations were exchanged on this important historical occasion, which represents a milestone in the development of relations between Riyadh and Moscow.

A historical depth spanning a century

This occasion is particularly significant given the historical background of relations between the two countries. Russia (formerly the Soviet Union) was the first non-Arab state to recognize the Kingdom of Saudi Arabia (then the Kingdom of Hejaz, the Sultanate of Najd, and its dependencies) in 1926, thus establishing a unique relationship built on mutual respect. Over the past century, these relations have witnessed numerous developments and phases, culminating in the current strategic partnership that encompasses a wide range of fields.

The importance of strategic partnership and its international impact

The celebration of the centenary of relations is not merely a matter of protocol; it reflects the significant weight of both countries on the international stage. The Kingdom and Russia play a pivotal role in stabilizing global energy markets through their leadership of the OPEC+ alliance, in addition to their ongoing coordination on regional and international political issues of mutual interest. The exchange of messages between the two foreign ministers at this time underscores the desire of both sides to leverage this historical legacy to strengthen economic and political cooperation in a way that serves the interests of both nations and supports international peace and security.

The meeting concluded with a review of several bilateral topics and ways to develop them, in addition to discussing issues of common interest, which confirms the continued momentum in Saudi-Russian relations towards broader horizons in the second century of relations.

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Dozens killed in attacks by the Lakurawa group in Nigeria

Details of the killing of more than 30 people and the destruction of 7 villages in bloody attacks launched by the Lakurawa jihadist group in Kebbi State, northwest Nigeria, and the theft of residents’ livestock.

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Dozens killed in attacks by the Lakurawa group in Nigeria

Kebbi State in northwestern Nigeria has witnessed a serious security escalation, as fighters belonging to the Lakurawa jihadist group carried out a series of coordinated armed attacks, killing dozens of civilians and completely destroying seven villages, in an incident that reflects the deteriorating security situation in the region.

In detailing the horrific incident, Kebbi State Police spokesperson Bashir Usman explained that armed elements launched a surprise attack on villages in the Bui area of ​​the Ariwa Administrative Region. The targeted villages included Mamono, Awasaka, Tungan Tsuho, Makangara, Kanzo, Goron Naidal, and Dan Mai Agu. Usman noted that local residents bravely attempted to resist the attackers and defend their property, but the intensity of the gunfire employed by the armed group resulted in the deaths of dozens of civilians.

Security reports from the scene confirmed that the attacks resulted in the deaths of more than 30 villagers, while local accounts from a survivor indicated that the death toll could exceed 35. The attackers not only killed and destroyed property but also looted and stole livestock, the primary source of income for the residents of these rural areas, before fleeing. Security forces responded to the incident, with joint units of the army and police, supported by local militias, deployed to secure the area and pursue the perpetrators.

These attacks come amid a complex security situation in northwestern Nigeria, where the activities of criminal gangs known as "bandits" intertwine with those of extremist jihadist groups. The emergence of the Lakurawa group and its increasing activity in Kebbi and Sokoto states indicate a qualitative shift in security threats. These groups exploit porous border areas and vast, uncontrolled spaces to launch attacks against civilians and security forces, exacerbating the humanitarian crisis and fueling internal displacement.

Tragically, this massacre occurred just days after Kebbi province hosted the Argungo International Hunting Festival, a major cultural event listed by UNESCO as an Intangible Cultural Heritage. The attack took place in the Ariwa area, only about 60 kilometers from the festival site, casting a dark shadow over government efforts to promote tourism and revive cultural heritage amidst ongoing security challenges that threaten the region's stability and the safety of its inhabitants.

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