Saudi Arabia’s ‘crown jewel’ now for sale

Saudi Arabia’s ‘crown jewel’ now for sale [Forward to a friend]( | [Subscribe]( | [View in your browser]( [Top of The World]( Once again, Brits are back at the polls in an election that will determine the UK’s fate in the European Union. France is moving ahead with pension reforms, in spite of strong opposition from labor unions. And Saudi Arabia has put its “crown jewel” up for sale. --------------------------------------------------------------- In the news today United Kingdom votes to decide the fate of Brexit, again [A woman walks past a polling station during the general election The Hove Museum and Art Gallery in Hove, Brighton and Hove, Britain, on Dec. 12, 2019.]( Credit: Paul Childs/Reuters In the UK, the song of the day could be "[Should I Stay or Should I Go](?" Voters there are heading to the polls in an [election]( that will either [pave the way for Brexit]( under Prime Minister Boris Johnson or propel Britain towards [another referendum]( that could ultimately reverse the decision to leave the European Union. After failing to deliver Brexit by an Oct. 31 deadline, Johnson called the election to break what he cast as political paralysis that had thwarted Britain's departure and sapped confidence in the economy. The face of the "Leave" campaign in the 2016 referendum, 55-year-old Johnson fought the election under the slogan of "Get Brexit Done," promising to end the deadlock and spend more on health, education and the police. His main opponent, Labour leader Jeremy Corbyn, [promised higher public spending](, nationalization of key services, taxes on the wealthy and another referendum on Brexit. Also: [Latest as voters head to the polls]( And: [What is Brexit? The non-Brits’ guide]( --------------------------------------------------------------- NewsMatch Do you value the global journalism you read here every morning? [Make a gift]( to support our work now, and your donation will be matched. [Donate here](. Pension reforms take hold in France, despite protests France's Prime Minister Edouard Philippe said on Wednesday that people should work two years longer to get a full pension, drawing a [hostile response from trade unions]( who said they would step up strike action to force an about-turn. In a speech that followed days of protests and industrial action, Philippe outlined an [overhaul of France's pension system]( that he said would be fairer and plug a gaping deficit in the pension budget. Under the plan, France would replace a system of more than 42 separate state-funded plans with a universal, points-based system that will apply to those entering the job market for the first time in 2022. The legal retirement age would remain at 62, Philippe said, but workers would be encouraged to work until 64 through a system of bonuses and discounts. That would allow a balanced pension budget by 2027, he said. Trade unions have vowed to [continue striking]( in response to the pension plan. Also: [French strike aims to save an envied, but convoluted, approach to pensions]( --------------------------------------------------------------- Do you have a smart speaker? Listen to The World's new show called [The Number in the News](! We produce The Number in the News daily from our studio in Boston. Host Bianca Hillier will tell you one number you won’t forget and why it’s the news today. Add The Number in the News to your Amazon or Google news briefing. Saudi Arabia’s ‘crown jewel’ is now for sale. But why? [An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia, on Oct. 12, 2019.]( Credit: Maxim Shemetov/Reuters Saudi Aramco, the state oil company that’s been called the “[crown jewel](” of Saudi Arabia, has gone public. And it’s a hit. The company [reached the $2 trillion target]( sought by Saudi leader Crown Prince Mohammed bin Salman on Thursday as its shares clocked up a second day of gains. But why is the crown jewel of Saudi Arabia selling off some of its shares now? “[Oil production is going to become less and less of an interesting business](,” said Phillip Cornell, who worked for Aramco from 2014 to 2016. “The issue for Saudi Arabia is how quickly can they front-end their value and try to leverage their national assets including Saudi Aramco and pump that money into programs that might diversify the economy. Bin Salman knows this. In his [Vision 2030](, he has laid out plans to reduce the kingdom’s reliance on oil and expand other, non-oil sectors. He has been pouring money into industries such as [tourism, entertainment and technology](. Also: [Saudi Arabia isn’t known for fun. It has a $64 billion plan to turn it around.]( Train stations burned, troops deployed in response to India’s Citizenship Amendment Bill Protesters attacked train stations in India's northeast, authorities said on Thursday, angry over a new federal law that would make it easier for non-Muslim minorities from some neighboring countries to seek Indian citizenship. India has responded by [deploying thousands of troops]( to the region. Prime Minister Narendra Modi's Hindu nationalist government has said the Citizenship Amendment Bill, [approved by parliament on Wednesday](, was meant to protect minorities from Bangladesh, Pakistan and Afghanistan. The government has said the new law will be followed by a citizenship register, which means Muslims must prove they were original residents of India and not refugees from these three countries, potentially [rendering some of them stateless](. Protesters in the northeastern state of Assam, which shares a border with Bangladesh, fear that arriving settlers [could increase competition for land and resources](. Others said the bigger problem with the new law was that it undermined India's secular constitution by not offering protection to Muslims. Modi urged calm and said the people of Assam had nothing to fear. "I want to assure them — no one can take away your rights, unique identity and beautiful culture. It will continue to flourish and grow," [he tweeted](. Also: [Citizenship Amendment Bill: Are India's claims about minorities in other countries true?]( And: [Women are becoming 'electable' in India — even when they don't win]( --------------------------------------------------------------- Morning meme After Greta Thunberg was named Time’s [Person of the Year](, one world leader’s response was [less than presidential](. Extra: [Photos of the UK in the shadow of Brexit]( Reuters contributed to this newsletter. --------------------------------------------------------------- In case you missed it on The World - [A visa program designed to help solve crimes is being undermined by police]( - [Facebook content moderators sue in Europe]( - [Protesters storm museum in Mexico City over painting]( - [Was corruption as lethal to the US effort in Afghanistan as the Taliban?]( - [New Zealand volcano eruption]( - [Subsidizing young couples in Seoul]( - [Will anyone step up to lead on climate?]( - [Migrant workers in North America]( - [A Canadian view of the new trade deal]( - [NAFTA 2.0 is here]( Don't forget to subscribe to The World's Latest Edition podcast using your favorite podcast player: [RadioPublic](, [Apple Podcasts](, [Stitcher](, [Soundcloud](, [RSS]( [The World logo]( [The World on Facebook]( [The World's Twitter account]( [Donate]( | [Forward to a friend]( | [Subscribe]( | [Edit your subscription]( | [Unsubscribe]( | [View in your browser]( Top of the World is written weekday mornings by the team at [The World](. 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