The January transfer window is now open, with Arsenal continuing to be linked with a host of big names.

The Gunners have endured a torrid first half of the season and have been tipped to bolster their ranks this month - in addition to offloading out-of-favour players - in a bid to turn their campaign around.

Here, Sports Mole rounds up the latest news on possible comings and goings at the Emirates Stadium.

Friday morning's Arsenal transfer talk news roundup:

Report: Arsenal have £20m budget for January transfer window

Arsenal manager Mikel Arteta has reportedly been told that he has £20m to spend in the January transfer window.

The Gunners are prioritising outgoings over new signings this month as they look to cut their bloated squad down to size.

Sead Kolasinac, William Saliba and Matt Macey have so far been loaned out, while Mesut Ozil is expected to follow in the coming days.

Regardless of any more outgoing activity, though, the Transfer Window Podcast claims that Arteta is already aware of the funds available to him this month.

Arsenal are said to be interested in Norwich City attacker Emiliano Buendia, but he is thought to be valued in the region of £40m, putting him well out of their price range.

Shakhtar Donetsk winger Manor Solomon has also been mentioned as a possible target for the Gunners before the window shuts on February 1.

Shakhtar Donetsk winger Manor Solomon 'interested in Arsenal move'

Shakhtar Donetsk winger Manor Solomon is reportedly keen to secure a move to Arsenal in the January transfer window.

The 21-year-old, whom the Gunners are supposedly interested in, has caught the eye with a number of impressive performances both domestically and in Europe this term.

Solomon scored in both of Shakhtar's memorable Champions League victories over Real Madrid earlier in the season, and he is reportedly pining for a move to the Premier League.

According to football.london, the prospect of a potential transfer to Arsenal excites Solomon, and superagent Pini Zahavi is now working with the player to help him achieve his Premier League dream.

Zahavi reportedly touched base with former Arsenal head of football Raul Sanllehi regarding a move for Solomon before he left the Emirates, and the report claims that there is optimism over a potential deal this month, but it is very early days.

Solomon has also scored three goals and set up one more in the Ukrainian top flight this term, but reports of Arsenal having just £20m to spend this month could potentially scupper a move.

More transfer news from Arsenal:

Arsenal interested in signing Aston Villa goalkeeper Tom Heaton?
Aston Villa goalkeeper Tom Heaton is reportedly wanted by Arsenal to provide competition for Bernd Leno. Read more.

Arsenal 'considering move for Barcelona goalkeeper Neto'
Arsenal are interested in signing Barcelona goalkeeper Neto, according to a report. Read more.

Mikel Arteta hints at new David Luiz contract
Arsenal boss Mikel Arteta suggests that David Luiz could sign a new contract at the Emirates Stadium. Read more.

Liverpool 'offered the chance to sign Arsenal's Sokratis Papastathopoulos'
Liverpool are reportedly offered the chance to sign Arsenal centre-back Sokratis Papastathopoulos during the January window. Read more.

Valencia, Lazio 'want to sign Lucas Torreira'
Valencia and Lazio are both interested in signing Arsenal midfielder Lucas Torreira on loan, according to a report. Read more.

Emre Belozoglu: 'Mesut Ozil is closer than ever to joining Fenerbahce'
Fenerbahce sporting director Emre Belozoglu says that Arsenal attacker Mesut Ozil is currently "closer than ever" to joining the club. Read more.

Mesut Ozil 'willing to forgo some wages to leave Arsenal this month'
Arsenal outcast Mesut Ozil is happy to forgo some of his wages in order to secure a January exit from the Emirates, according to a report. Read more.