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MUST-READS

  • Privatizing the Gulf Utility Sector

    The utility sector in the Gulf is especially energy intensive, largely due to heavy reliance on desalination for water supplies. The sector has faced criticism for its high carbon emissions and contribution to environmental degradation. Given the significant environmental impact, privatization could offer opportunities to enhance the sustainability of the utility sector and help it become more climate resilient, as extreme temperatures and sea-level rise can affect both groundwater resources and desalination plants.

  • Oil Recovers From Selloff Amid Escalating Middle East Tensions

    West Texas Intermediate rose 2.7% to settle above $79 a barrel. The gains followed a drop to three-month lows last week brought futures to oversold territory. The attack on a Greek-managed bulk carrier in the Red Sea and Israel’s advance into the southern Gaza city revived the geopolitical risk premium that had gone missing last week, when signs of ample supplies also weighed on crude.

  • Solar PV to help meet soaring Middle East power demand, reduce reliance on fossil fuels / Rystad Energy

    The Middle East's energy sector is at a turning point. Although traditionally an oil and gas powerhouse, the region is shifting its focus to renewables as a response to rapid industrial growth, increasing population, and a global drive to reduce carbon emissions. The region is home to over 280 million people and has one of the world’s fastest-growing populations, increasing by over 60% since 2000. This has led to a rapid increase in power demand, more than doubling in the past 20 years.

  • Middle East projected to surpass 100 GW of solar capacity by 2030

    Renewable energy sources, including hydro, are expected to account for 70% of the Middle East's power generation mix by 2050, up from only 5% recorded at the end of 2023, according to a research by the company. Solar will be the leading source with a share of over 50% by 2050.

  • The Middle East Is the Fastest Growing Real-Time Payments Market Globally For The Second Consecutive Year, Finds ACI Worldwide Report

    For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime Time for Real-Time report, published by ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company.

  • A stirring photography show captures the Middle East through a female lens

    The 10 Arab and Iranian photographers featured in “Louder Than Hearts” at the Middle East Institute’s gallery are not only all women, but their subjects are almost entirely female as well. This emphasis feels fitting for the first exhibition curated by Rania Matar, a photographer known for her nuanced, intimate portraits of women and girls in the Middle East and the United States.

  • Saudi Arabia Taps Bond Market With $5 Billion Sukuk Deal

    The kingdom sold the bonds through notes maturing in three, six and 10 years, according to a person familiar with the matter, who asked not to be identified. The deal was priced at yields of 60 basis points more than comparable US Treasuries for the shortest tranche and at 85 basis points for the longest tranche, the person said. That’s down from initial discussions for around 85 to 110 basis points.

  • Saudi King Salman heads cabinet meeting after medical treatment

    Saudi Arabia’s King Salman bin Abdulaziz headed a cabinet meeting on Tuesday after he underwent medical treatment for lung inflammation last week, the Saudi Press Agency reported.

  • Saudi FM: Two-State Solution Basis for Peace, Security in the Region

    The FM, along with foreign ministers and representatives from European countries, was in Brussels to attend a meeting of the Ministerial Committee assigned by the Joint Arab-Islamic Extraordinary Summit on Developments in the Gaza Strip.

  • Saudi Arabia is reportedly trying to plug a $21 billion deficit by selling bonds

    The kingdom will issue dollar-denominated three, six, and 10-year sukuk notes as part of an effort to plug a fiscal shortfall that's expected to hit $21 billion by the end of the year, the outlet reported citing an unnamed source.

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