MUST-READS

• Saudi Arabian healthcare group Fakeeh Care Group announces IPO
  Saudi Arabia's Fakeeh Care Group, one of the largest private hospital groups in the kingdom, said on Wednesday it planned to proceed with an initial public offering (IPO) through the sale of a 21.47% stake in existing and new shares.
  The family-owned business, with hospitals in Jeddah and Riyadh, plans to offer 30 million new shares and 19.8 million existing shares to investors, it said in a statement.

• Saudi Arabia’s non-oil exports surge by 4.4%: GASTAT

  Saudi Arabia’s non-oil exports, including re-exports, saw a surge of 4.4 percent in February compared to the same period of 2023, official data showed. According to the General Authority for Statistics, the total value of this sector reached SR21.86 billion ($5.83 billion), marking a rise from SR20.93 billion in the same period of the previous year.

• IMF To Open New Regional Office In Saudi Arabia

  The first director of the regional office will be Mr. Abdoul Aziz Wane who is a seasoned IMF leader with deep knowledge of the institution and a vast network of policymakers and academics across the world. He is a national of Senegal.

• In Iran, talk of capacity to build nukes sparks bipartisan backlash

  Supreme Leader Ayatollah Ali Khamenei has accused the US of attempting a Libya-style shutdown of Iran’s nuclear facilities. This comes as some Iranian officials have indicated that the Islamic Republic may turn to nuclear weapons if pushed into a corner. But rather than being welcomed amid tension with Israel, such remarks have sparked a cross-partisan backlash—with both media and pundits portraying such discourse as a pretext for the west to further sanction Iran.

• Israel’s Next Front? Iran, Hezbollah, and the Coming War in Lebanon

  Over the past six months, tensions along Israel’s border with Lebanon have escalated dramatically. Israel has now deployed 100,000 troops to its north to confront the Shiite militant group Hezbollah, and the fighting there has steadily intensified. Nearly 400 Lebanese—including around 70 civilians and three journalists—have been killed, 90,000 Lebanese civilians have been displaced from around 100 towns and villages along the Israeli-Lebanese border, and Lebanese villages and olive groves have incurred widespread damage from phosphorus bombs.

• IAEA may hold ‘high-level’ talks in Iran as nuclear concerns grow

  The International Atomic Energy Agency (IAEA), the UN’s nuclear watchdog, is considering holding a high-level political discussion in Tehran within the next “couple of weeks” as concerns grow about Iran’s nuclear programme, its director general has said.

  Iran, which is currently in the middle of a stand-off with Israel – another nuclear nation – is “very close” to possessing enough enriched uranium to produce several nuclear warheads, Rafael Grossi told The National on the sidelines of the World Energy Congress on Wednesday.

  “But that does not mean they have them now. One needs to be careful,” Mr Grossi said.

• Despite backlash, Bahrain goes all in on supercar brand

  Mumtalakat, Bahrain’s sovereign wealth fund, last month expanded its shares to become sole owner of the British McLaren Group. The sports car brand has been facing significant financial uncertainty and recently incurred substantial losses. To Bahrainis, the move is a surprise given their country's own struggling economic climate—including an expected budget deficit of 8.2% of GDP through 2024. The International Monetary Fund (IMF) projects that the size of the island nation’s economy will stand at 17.7B BHD (47.1B USD) this year.

• Will Biden enable Pakistani energy imports from Iran?

  Ebrahim Raisi has traveled to Pakistan, marking the first trip by an Iranian president to the country’s eastern neighbor in over eight years. Iranian state media have focused on the potential economic benefits of the visit, which could involve a deal on the completion of a stalled gas pipeline opposed by the US. If Islamabad fails to complete its section of the pipeline, it could face Iranian legal action potentially resulting in 18B USD in fines.

• No Soft Power Shake-Ups for Now

  President Joe Biden may not have fully restored the image of the U.S. abroad, but it is in better condition now than it was under his predecessor and likely rival in the November election.

  A new Gallup report based on surveys in over 130 countries and territories shows that the median global approval rating of U.S. leadership stood at 41% in 2023, down from 45% during Biden’s first year in office but unchanged from his second.

  Historically, the 41% approval rating is lower than all but one of the ratings under President Barack Obama but is higher than any of those under Presidents Donald Trump and George W. Bush.

• Israel gears up for Rafah civilian evacuation ahead of promised assault
  Israel has procured tens of thousands of tents for Palestinian civilians it intends to evacuate from Rafah in the coming weeks ahead a promised assault on the city it sees as the last bastion of Hamas in the Gaza Strip, Israeli sources said on Wednesday.
  Abutting the Egyptian border, Rafah's population has been swollen by more than a million Palestinians who fled the half-year-old Israeli offensive through the rest of Gaza.

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