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  • Lebanon Ill-Equipped for Further Instability

    Gallup finished its surveys in Lebanon on Sept. 9 last year, less than a month before the Israel-Hamas conflict erupted. Since then, tensions and death tolls have risen along Lebanon’s border with Israel, where the militant group Hezbollah has a strong presence. On Monday, Israel killed a top Hezbollah commander in south Lebanon. If the war between Israel and Hamas spills into Lebanon, it could further destabilize a country that Gallup surveys showed was still struggling -- on multiple fronts -- to emerge from years of crippling economic and political crises.

  • Blinken says path to Palestinian state can isolate Iran

    Offering a pathway to a Palestinian state is the best way to stabilize the wider region and isolate Iran and its proxies, U.S. Secretary of State Antony Blinken said on Thursday, as he ended a frenetic regional tour over the Gaza war in Cairo.

    Shuttling between Israel and Arab states, Blinken has been pushing for a way forward from the bloodshed in Gaza, even as the conflict threatens to spread further to Lebanon, Iraq and Red Sea shipping lanes.

  • Iran seizes oil tanker in Gulf of Oman, raising Middle East tensions

    The Iranian navy seized an oil tanker in the Gulf of Oman on Thursday, according to state-run media, raising tensions in the already-fraught Middle East. The seizure was executed under a court order as the tanker had confiscated Iranian oil that was then handed over to the United States, the Public Relations Department of the Iranian Navy said, according to the state-run Islamic Republic News Agency.

  • Blinken heads to Egypt on last leg of Middle East tour

    US Secretary of State Antony Blinken has been touring the Middle East to try to prevent the war in Gaza from spreading to the wider region. Meanwhile, the Palestinian Red Crescent has said four paramedics were killed in an Israeli airstrike.

  • Futuristic ‘upside-down skyscraper’ proposed in Saudi Arabia

    Developers in Saudi Arabia announced plans Wednesday for an “ultra-luxury upside-down skyscraper” wedged into the mountainside on the Gulf of Aqaba coastline that looks straight out of a science fiction movie. The project, Aquellum, is billed as an underground city and tourist destination that “will offer guests a taste of futuristic living through its array of pioneering experiences,” according to NEOM, the same developers who proposed building a city within a 75-mile building.

  • Barcelona beats Osasuna and will play Real Madrid for 2nd straight year in Spanish Super Cup final

    The “clasico” will decide the Spanish Super Cup winner for the second straight season. Barcelona defeated Osasuna 2-0 on Thursday to set up a rematch of last year’s final against Real Madrid in Saudi Arabia. Robert Lewandowski and Lamine Yamal scored a goal each for the Catalan club, which last season won the title for its first trophy with coach Xavi Hernández and without Lionel Messi.

  • Saudi Arabia wants to be the Saudi Arabia of minerals

    In wa’ad al-shamal, 1,200km north of Riyadh, the Saudi capital, phosphate is extracted and bathed in chemicals to turn it into an acid. From there it is shipped 1,500km east by rail to the port of Ras Al-Khair. The stuff is then made into fertiliser or its precursor, ammonia, and sails west to Brazil, south to Africa and east to India and Bangladesh, where it ends up with farmers who, according to Ma’aden, the state mining firm which runs the project, grow 10% of the world’s food. The venture is vast. Its sales and domestic investment are equivalent to about 2% of the kingdom’s non-oil gdp. Another similar one will soon start shipping the equivalent of another 1%.

  • BRICS UAE, Saudi expansion marks biggest challenge to the US dollar in the 21st century

    Dubai-based geopolitical risk analyst and Partner at Confluence Consultants, Nicolas Michelon, told Arabian Business the inclusion of Saudi Arabia “represents a significant change in regional and global geopolitics.” Saudi Arabia is arguably the most influential and oldest US ally in the Arab world, and its entry into BRICS comes a few months after the Gulf nation reinstated diplomatic ties with Iran under China’s patronage.

  • Nintendo shares hit record high amid expectations of Switch 2 and further Saudi investment

    Nikkei Asia says there's strong speculation "oil money" is set to buy more Japanese video game stocks, given Saudi Arabia's controversial sovereign wealth fund, the Public Investment Fund, bought additional shares in Koei Tecmo Holdings earlier this week. Notably, the Public Investment Fund already upped its stake in Nintendo several times last year, with February 2023 bringing news it now held an 8.26 percent share of the company, making it Nintendo's largest outside investor.

  • A $290 Billion Investment Cements Natural Gas’s Relevance for Decades

    At a time when some see oil demand nearing its peak and coal is likely to face a slow but steady decline, the energy sector is betting hundreds of billions of dollars that the third leading fossil fuel — natural gas — has a place in the world’s energy mix through at least 2050. That lifespan hinges on one last torrent of investment into the massive terminals that liquefy and export super-chilled liquefied natural gas, or LNG, for countries not yet ready or able to make the transition to renewables.