MUST-READS

• Opec+ defers tricky decision on production increases

  The series of cuts, which began in November 2022 in the face of vehement US opposition, has crimped production of crude by some 5.3mn barrels a day, or about 5 per cent of global supply. These curbs on supply have helped prop up the price of crude for the past 18 months but left Saudi Arabia, which has cut its production by 2mn barrels a day, shouldering most of the cost.

• LIV Golf League ends bid for World Golf Ranking accreditation

  The LIV Golf League has withdrawn its application for recognition from the Official World Golf Ranking, LIV Golf CEO and commissioner Greg Norman told players in a letter on Tuesday. The LIV Golf League, now in its third season, had been fighting for OWGR accreditation since July 2022. World-ranking points are used to determine exemptions and other invitations into the four major championships by Augusta National Golf Club, PGA of America, United States Golf Association and The R&A.

• The lost humanity of the crisis in Gaza

  Israel originally estimated there to be about 30,000 Hamas fighters. On the low end, that would leave 20,000. For months, Israel has made promises of progress on the ground and timelines that have not come to fruition. The fight has been harder than expected, with military losses (more than 240 Israeli soldiers) the most in a war in decades. Israel cannot defeat the ideology of Hamas, so all that’s left is for Israel to destroy Rafah as it destroyed the rest of Gaza, killing tens of thousands of more innocents in its wake.

• Gaza ceasefire talks extended in Cairo for another day, Hamas says

  Hamas negotiators will remain in Cairo for another day at the request of mediators, keeping ceasefire talks going after two days with no breakthrough, an official from the militant group said on Tuesday. The Cairo talks have been billed as a final hurdle to reach the first extended ceasefire in the war between Hamas and Israel- a 40-day truce during which Israeli hostages would be freed and aid pumped into Gaza - ahead of Ramadan, which is due to begin at the start of next week.

• Saudi Arabia Seeks $80 Billion Investments in Push for More Tourists

  Saudi is counting on the middle-class population in India and China to boost international tourism numbers and sees the UK as an appealing market, according to Khateeb, the minister. France and Germany are also interesting prospects, though destinations requiring longer-haul flights of more than eight hours remain challenging, he said.

• Iran’s elite Quds Force is following former leader’s vision of chaos in the Middle East

  Under Ghaani, the Quds Force has doubled down on the strategy of supporting, arming and funding terrorist and insurgent groups in Iraq, Lebanon, Yemen, Syria, Afghanistan and the Palestinian territories. Building from Soleimani’s legacy, Ghaani is responsible for developing the network into what Iranian officials call the “Axis of Resistance.”

• Leap 2024: Amazon Web Services and LLMs make a splash in Saudi Arabia

  Amazon Web Services, the world’s biggest cloud services provider, is to launch an AWS infrastructure Region (AWS Region) in Saudi Arabia, it was announced at the Leap 2024 technology conference, which began in Riyadh on Monday. “We’re proud to bring AWS to the kingdom,” said Abdullah Alswaha, Saudi Arabia’s Minister of Communications and Information Technology, who addressed a packed auditorium at Leap. According to Amazon, AWS will invest $5.3 billion in Saudi Arabia and establish two innovation centres in the kingdom. The new AWS Region will allow businesses, organisations and start-ups to serve their customers by using Amazon's data centres within the kingdom to host various applications or services, the company said.

• Saudi Arabia unlocks multi-billion dollar investments as part of its wider drive to become a global tourism powerhouse

  A notable aspect of the initiative is its focus on benefiting local communities across tourism destinations. By localizing services such as contracting, design, and consulting, the program aims to create a direct positive impact on various sectors. This approach, coupled with over $800 billion invested to transform the tourism landscape, underscores Saudi Arabia's commitment to enhancing industry standards and providing lucrative opportunities for investors.

• Saudi Arabia’s Salla raises $130 million pre-IPO investment

  Investcorp, a leading global alternative investment firm, today announced it has led a $130 million pre-IPO investment round in Salla, a leading SaaS e-commerce enablement platform in Saudi Arabia. The investment was made alongside Sanabil Investment, a wholly owned company by Saudi Arabia’s Public Investment Fund. STV, a regional venture capital investor and an existing shareholder of Salla, also participated in the transaction.

• Saudi Arabia Rejects Attempts to Undermine UNRWA in Gaza

  Saudi Arabia’s permanent representative to the United Nations Abdulaziz Al-Wasel said on Monday that the Kingdom rejects attempts to undermine the role of the United Nations Relief and Works Agency (UNRWA) in Gaza where Israel has been waging a war that has killed over 30,000 people and displaced over 80 percent of its population. Speaking at a briefing at the UN General Assembly on UNRWA, he added that Saudi Arabia was keen on continuing its support to the agency, warning of attempts to "eliminate" its role. Saudi Arabia is looking at all means to save UNRWA from its financial difficulties, he stated, revealing that "additional funding" to the agency will be announced soon.

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