MUST-READS

• US stops UN from recognizing a Palestinian state through membership
  The United States on Thursday effectively stopped the United Nations from recognizing a Palestinian state by casting a veto in the Security Council to deny Palestinians full membership of the world body.
  It vetoed a draft resolution that recommended to the 193-member U.N. General Assembly that "the State of Palestine be admitted to membership" of the U.N. Britain and Switzerland abstained, while the remaining 12 council members voted yes.

• IMF chief says productivity, Chinese consumer spending key to boosting global growth
  International Monetary Fund Managing Director Kristalina Georgieva bemoaned the slow pace of global growth on Thursday, saying that Europe needed to do more to boost productivity and China should work to unleash greater consumer spending.
  Georgieva told a news conference during the IMF and World Bank spring meetings in Washington that a number of factors are converging to hold back growth in Europe and China, from aging populations to sub-optimal allocations of capital, while the U.S. has far outperformed expectations.

• Saudi pavilion at Venice Biennale charts the evolving role of women in the kingdom

  Saudi visual artist Manal Al Dowayan is known for her research-based, participatory practice, placing community voices at the forefront of her artwork. Her exhibition for the National Pavilion of Saudi Arabia at this year’s Venice Biennale is no different.

  Titled Shifting Sands: A Battle Song, curated by Jessica Cerasi and Maya El Khalil, Al Dowayan’s multimedia installation is inspired by the evolving role of women in Saudi Arabia. It is rooted in three workshops that took place across the country, where she engaged with more than 1000 women from all walks of life.

• Saudi Arabia Needs Oil Price Near $100, IMF Says

  Riyadh will require an average oil price of $96.20 a barrel to balance its budget, assuming it holds crude output steady near 9.3 million barrels a day this year, the Washington-based Fund said in its regional economic outlook on Thursday. That’s up 21% from a previous forecast in October, when the IMF predicted that the kingdom would pump 10 million barrels a day in 2024. It’s also higher than the current price for international benchmark Brent futures, which are trading near $89 a barrel.

• Dubai faces massive clean up after deluge swamps glitzy desert city

  Dubai, a city in the desert proud of its modern gloss, faced the towering task on Thursday of clearing its waterclogged roads and drying out flooded homes two days after a record storm saw a year's rain fall in a day. Dubai International Airport, a major travel hub, struggled to clear a backlog of flights and many roads were still flooded in the aftermath of Tuesday's deluge. The rains were the heaviest experienced by the United Arab Emirates in the 75 years that records have been kept. They brought much of the country to a standstill and caused significant damage.

• IMF Boosts Saudi Arabia’s 2025 Growth Forecast Again, Making it Second-Fastest Growing Economy

  The International Monetary Fund (IMF) has further strengthened its positive outlook for the Saudi Arabian economy by revising its 2025 growth forecast upwards for the second time this year. In its April "World Economic Outlook" report, the IMF raised the expected growth rate for the Kingdom to 6%, up from the 5.5% projection issued in January 2024. This upward revision comes despite the IMF maintaining a stable global growth forecast of 3.2%. Consequently, Saudi Arabia is now projected to be the second-fastest growing economy in 2025, trailing only India's anticipated growth rate of 6.5%.

• Manal AlDowayan on her work for the Venice Biennale 

  “I’ve been going to Venice for about 12 years,” AlDowayan tells Arab News. “The first time I showed there, I knew in my heart that I would be coming back to represent Saudi Arabia; I would do everything in my power to come to this moment and prepare myself. It’s something very important for an artist: to participate in the Venice Biennale.” It was only last August that she was visited in her UK studio by Dina Amin, the CEO of the Visual Arts Commission, and cultural advisor Abdullah Al-Turki, and told she had been selected to represent the Kingdom in 2024.

• US confirms $240m in military sales to Iraq, Saudi Arabia

  The Defense Security Cooperation Agency has approved the sale of C-172 and AC/RC-208 aircraft contractor logistics support and training to Iraq, and multifunctional information distribution systems to the Kingdom of Saudi Arabia.

  The United States Defense Security Cooperation Agency (DSCA) notified Congress of their approval of the possible foreign military sale of aircraft contractor logistics to the government of Iraq and multifunctional information distribution systems to the Kingdom of Saudi Arabia.

  Valued at US$140 million, the DSCA gave the greenlight for the provision of contractor logistics support of its C-172 and AC/RC-208 aircraft fleet, which is expected to help the country overcome its current and future threats by sustaining the aircraft. The principal contractor will be Northrop Grumman, with the DSCA identifying that the sale will support the foreign policy and national security interests of its strategic partner.

• ‘Saudi hospitality sector to generate SR42 billion investments and 120,000 jobs by 2030’

  Eng. Mahmoud Abdulhadi, deputy minister of tourism for destination enablement, emphasized that Saudi Arabia is providing promising opportunities for both Saudi and international investors to draw investments into the Kingdom’s vital tourism sector. “The recently launched Hospitality Investment Enablers (HIE) initiative seeks to attract private investments in the hospitality sector, amounting to about SR42 billion ($11 billion) with creation of 120,000 new jobs by 2030,” he said while attending a dialogue session within the Saudi Ministry of Tourism’s participation at the International Hospitality Investment Forum (IHIF) in Berlin.

• Pakistan says will continue ‘constructive engagement’ with Riyadh to enhance economic, strategic partnership

  Pakistan’s foreign office said on Friday the South Asian country would continue its “constructive engagement” with the Kingdom of Saudi Arabia to enhance economic and strategic partnerships between the longtime allies. Saudi Foreign Minister Faisal bin Farhan Al Saud came to Islamabad on a two-day visit this week aimed at strengthening bilateral economic cooperation and pushing forward previously agreed investment deals. Pakistan has said it pitched investment projects worth$30 billion to Riyadh during Prince Faisal’s visit.

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