MUST-READS

• Saudi to Dubai in an hour? Hyperloop chief sees GCC transport link as ‘possible’

  Andres de Leon, chief executive of Hyperloop Transportation Technologies (Hyper-loopTT), revealed that “conversations have been had” with countries in the GCC – including the UAE and Saudi Arabia – to bring the mass transport system to the region. Plans to bring a hyperloop prototype to Northern Italy - between Venice and Padua – through a joint venture between the Italian government and private investors reignited interest in the project. That system – which aims to be the world’s first working passenger system and will propel people between cities in pods more than twice as fast as high-speed rail net-works and far more sustainably – aims to be up and running between 2028 and 2030, de Leon said

• Gaza aid convoy strike: What we know

  Seven people working for the food aid charity World Central Kitchen (WCK) have been killed in an Israeli strike in Gaza. Three of them were British and Foreign Secretary David Cameron has called on Israel to "urgently explain how this happened". BBC Verify has been studying images of the aftermath of the attack, shared on social media, to try to piece together what we know about the incident.

• Beyond Chaos and Conflict, the Middle East is Also a Place of Beauty.

  In all the analysis and portrayals of conflict and strife in the Middle East, we shouldn’t forget that the region hosts a rich history and a vibrant cultural and intellectual life. Media organisations must take responsibility and present the region in its totality.

• Many Iranian options to retaliate against Israel, but all carry risk

  Iran faces a dilemma following an Israeli attack on its embassy in Syria: how to retaliate without sparking a wider conflict that Middle East analysts said Tehran doesn't appear to want. Monday's strike, which killed two Iranian generals and five military advisers at Iran's embassy compound in Damascus, comes as Israel accelerates a long-running campaign against Iran and the armed groups it backs. Iranian Supreme Leader Ayatollah Ali Khamenei has vowed revenge.

• Why are more Middle East investors seeking US property deals?

  “Distressed opportunities that are starting to arise not only because some people need to sell to reimburse their investors but also for refinancing,” Fadi Moussalli, executive director and head of capital markets and international capital coverage of Mena at JLL told The National. “Today, if someone who has a loan that is maturing and is unable to secure decent debt terms … [he/she] has no choice but to sell, banks are no longer lending with the same appetite.”

• Middle East Emerges as Key Region for FDI in Kearney Survey

  Efforts toward economic diversification and reforms to business policies have helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia. Among emerging markets, the two largest Gulf economies ranked second and third, respectively, behind China. Oman also made the emerging market list for the first time, helped by the launch of the Future Fund that will mostly focus on drawing in foreign direct investment.

• Nato considers expansion of missions in Middle East and North Africa

  Nato allies will this week discuss the possible appointment its first special representative to the southern community as it seeks to strengthen ties with the Middle East, North Africa and Sahel regions, senior Nato diplomats said on Tuesday. Nato's 32 foreign ministers are scheduled to discuss more than 100 recommendations made by a panel of independent experts to bolster relations with the alliance's southern neighbourhood during a two-day meeting in Brussels starting on Wednesday. The report was requested by Secretary General Jens Stoltenberg last year.

• Top Israeli official Ron Dermer began yelling during a meeting with U.S. officials about Gaza, officials say

  A spokesperson for the National Security Council declined to comment. After the meeting Monday, John Kirby, a spokesperson for the National Security Council, said that “the whole reason to have that meeting was to talk about our concerns over a major ground operation in Rafah and to present viable alternatives for [the Israelis] to be more precise and more targeted.”

• Saudi Arabia: Flynas airline receives the 50th Airbus A320neo

  Saudi low-cost airline Flynas has received its 50th A320neo airliner from Airbus, out of an order of more than 100 aircraft, as it continues its growth and expansion plan.

• China invested 10x more into Saudi Arabia from the previous year

  China pumped in $16.8 billion in the kingdom as opposed to the $1.5 billion it had pumped in during 2022, stated data from Emirates NBD. The kingdom is targeting over $100 billion in foreign direct investment by 2030, all to diversify the economy.   Overall, the FDI investments in Saudi doubled to $28.9 billion. EmiratesNBD report added that this surpassed the previous peak of $17.6 billion in 2018 but didn’t touch the exuberance of 2008 of $34.3 billion.  

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