MUST-READS

• Inside the White House’s Scramble to Avert a Bigger Middle East War

  Over the course of 19 days, U.S. officials raced to contain escalating tensions between Israel and Iran amid a series of attacks. WSJ’s Michael R. Gordon on what was going on behind the scenes as the White House worked to prevent a bigger conflict.

• Saudi Arabia’s King Salman in hospital for routine check up – TV

• Israel’s Iran attack carefully calibrated after internal splits, US pressure
  Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.
  Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.

• Perspective: Newcomers Bring New Rules

  The world’s challenges are increasingly complex. Borders could not stop the spread of the Covid-19 pandemic, but Russia’s 2022 invasion of Ukraine demonstrated that the kinds of national wars that characterized the 20th century were still relevant. Ideology has faded, and the states of the Global South have grown larger and wealthier. They now expect a larger share of the global pie. While cooperation has become more necessary, the world has entered an era of increased national contestation.

• Saudi Aramco in talks to buy 10% of China’s Hengli Petrochemical
  Saudi oil giant Aramco said on Monday it is in talks to acquire a 10% stake in China's Hengli Petrochemical (600346.SS), opens new tab, a deal which would further bolster Aramco's growing downstream presence in China.
  Aramco (2222.SE), opens new tab is in talks with parent Hengli Group Co and signed a memorandum of understanding over the proposed transaction, which is subject to due diligence and regulatory approvals, Aramco said in a statement.

• The Importance of Venture Capital for Startups in Saudi Arabia

  Startups are a critical component of the 21st-century economy, driving innovation, creating jobs, and fostering national economic growth. In Saudi Arabia, venture capital (VC) is gaining increasing importance in supporting startups and enabling them to grow and thrive. In this article, we'll explore the importance of venture capital for startups in Saudi Arabia and its impact on the national economy.

• Amid Iran-Israel confrontation, large blast at Iraqi base raises questions

  A massive explosion at a base used by Iraqi security forces, including the Popular Mobilization Units (PMU), has raised questions over culpability. The blast has particularly grabbed attention as it follows the unprecedented direct exchange of fire between Iran and Israel. While PMU representatives initially blamed the US for the incident, a subsequent retraction has led to speculations about the true nature of the blast. 

• Why British and US strikes on Yemen are not working

  On Jan. 11, 2024, Britain and the US initiated airstrikes in Yemen with the stated goal to degrade the capabilities of the Ansarullah movement—better known as the Houthis. The decision was prompted by the Iran-backed movement’s claim of targeting ships headed to and from Israel since Nov. 2023, in an effort to allegedly force a ceasefire in Gaza. However, the western strikes have not been effective. Paradoxically, they have instead emboldened the Houthis to escalate their attacks.

• Saudi Arabia clashes with West over Chinese green tech

  The head of Saudi Arabia’s state oil company praised China’s exports of green technology, echoing Beijing’s talking points in what appeared to be a deliberate rebuke of Western policymakers. “China really helped by reducing the cost of solar energy,” Aramco CEO Amin Nasser told the World Energy Congress in Rotterdam on Monday. “We can see the same now in electric vehicles…a lot of policymakers do not understand what is required and how [the energy transition] is going to happen.”

• 9% spike in Mideast military spending driven by Saudi Arabia, Israel, Turkey

  The institute noted that three largest spenders in the region — Saudi Arabia, Israel and Turkey — all increased military spending last year. Saudi Arabia was the fifth largest spender in the world, with spending increasing 4.3% from the year prior to $75.8 billion in 2023. However, Saudi military spending from the 2014 through 2023 decreased by 18% compared to the previous decade.  

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