MUST-READS

• Saudi Arabia’s Emergence as a Diplomatic Broker

  Although Riyadh’s audition for the global spotlight began years ago, it has kicked into overdrive this year, with the kingdom hosting multiple bilateral and multilateral meetings since January alone. These include the first high-level, direct meeting between Russia and the United States in years; an emergency Arab League summit to discuss postwar reconstruction plans for Gaza; an international meeting on securing assistance for post-Assad Syria; and the first foreign trips by interim Syrian president Ahmed al-Sharaa and newly minted Lebanese president Joseph Aoun. Most recently, Riyadh hosted President Volodymyr Zelensky this week amid high-level U.S. discussions on resolving the Ukraine war, and a follow-up summit between President Trump and Vladimir Putin may take place there as well.

• Siemens Energy awarded $1.6 billion Supply Contract for Rumah 2 and Nairyah 2 Power Plants

  Siemens Energy announces that it has been awarded a USD 1.6 billion project, with Harbin Electric International as the EPC contractor, to provide key technologies for the Rumah 2 and Nairyah 2 gas-fired power plants in Saudi Arabia. Located in the western and central regions, the plants will add 3.6 gigawatts of power to the national grid – enough to supply around 1.5 million homes. The project includes long-term maintenance agreements to support the plants’ operational reliability over the next 25 years. Core components for the power plants will be manufactured at the Siemens Energy Dammam Hub, which is currently expanding to increase local production capacity and support Saudi Arabia’s energy sector.

• Pokémon Go developer Niantic to sell gaming business to Saudi group

  Niantic Labs has announced that it’s selling its video game division to Saudi Arabia-owned mobile developer Scopely for $3.5 billion after struggling to replicate the success of Pokémon Go across its other AR games. The newly inked agreement includes Niantic’s Pokémon Go, Monster Hunter Now, and Pikmin Bloom mobile gaming titles. The acquisition is subject to regulatory approval and other closing conditions. Should the deal go through, it will also bring Niantic’s social companion apps for Pokémon Go — Campfire and Wayfarer — under Scopely ownership. Scopely says it will gain “Niantic’s entire team of exceptional gamemakers and category-leading games.” However, the Peridot and Ingress AR gaming titles, the latter of which is also supported by the Wayfarer mapping app, will remain under the ownership and development of Niantic Spatial.

• The changing face of project finance around the Gulf

  Project finance is a funding model often used for infrastructure, in which repayment comes from revenue generated by the completed facility rather than being guaranteed by the owners. “Repayment depends on the project succeeding,” says Rahul Bajaj, director of Mena equity research at Citi in Dubai. As such, banks expect a premium for accepting the higher risk. “These are usually not low-margin products,” adds Bajaj. The project finance model is expected to play a bigger role in supporting the Gulf’s economic development. As governments push ahead with mega-projects, especially in Saudi Arabia and the UAE, the need for alternative financing mechanisms has grown, bankers say.

• Ukraine agrees to U.S. ceasefire plan. ‘Hopefully Russia agrees to it,’ Trump

  The United States will resume military and intelligence assistance to Ukraine after Ukrainian negotiators today agreed to a U.S. proposal for a 30-day interim ceasefire, which the US will now discuss with Moscow, Secretary of State Marco Rubio said. “We’ll take this offer now to the Russians, and we hope that they’ll say yes,” Rubio told journalists after the conclusion of talks with the Ukrainians in Jeddah, Saudi Arabia, tonight. “The ball is now in their court.” President Trump “wants the war to end,” Rubio said. “Today, Ukraine has taken a concrete step in that regard. We hope the Russians will reciprocate.” “The Ukrainian delegation today made something very clear: that they share President Trump’s vision for peace,” US National Security Advisor Michael Waltz said. “They share his determination to end the fighting.”

• Will regional geopolitical shifts shake up Sunni politics in Iraq?

  Regarded as one of Iraq’s most skilled—if controversial—modern political operators, Sunni politician Mohammed Al-Halbousi has faced challenging times since his removal as parliament speaker in late 2023. Despite setbacks, he has managed to remain a key political figure, leveraging deft strategic maneuvering and carefully cultivated alliances to maintain influence. When Sunni blocs were up in arms over a legal challenge last month to block the Sunni-sponsored General Amnesty Law, Halbousi again emerged as the dominant rallying figure. This centrality in Iraq’s Sunni political establishment has been lasting despite renewed attempts from opponents to sideline the Anbari politician, and potentially secure his permanent ouster from the political stage.

• Positive Energy and Pragmatic Actions Needed to Drive Global Growth and Rise of AI: Dr. Sultan Al Jaber

  Speaking at CERAWeek in Houston, Texas, Dr. Al Jaber called for durable, stable policies to meet the growing demand for energy. “The world is finally waking up to the fact that energy is the solution. Energy is the beating heart of economies, a key driver of prosperity and is fundamental to every aspect of human development. If we want a pro-growth world, we need pragmatic actions and policies that are pro-growth, pro-investment, pro-energy and pro-people.”

• How separatist militants hijacked a train in Pakistan
  The Jaffar Express was heading to the city of Peshawar in Khyber Pakhtunkhwa province from Quetta, the capital of Balochistan province, with 425 people on board when it was attacked. Militants blew up the railway tracks and opened fire on the train, killing the driver and trapping the locomotive inside a tunnel before taking control of it. Some of those rescued said they crouched low when the firing started, while others spoke of passengers who had been injured or killed.

• Saudi-owned Sela strikes deal with Olympics hero Mills

  Sky News has learnt that Sela, which has gained international prominence in recent years as the shirt sponsor of Saudi-owned Premier League side Newcastle United, will announce later on Tuesday the formation of a partnership with Origin Sports Group. The alliance will come soon after Sela agreed a collaboration with The Ring and TKO to form a new international boxing promotion company. Sela's joint venture with Origin will include the establishment of an international headquarters in London, with a board including Sela's head of international business, Ibrahim Mohtaseb.

• The Thirst for Power: Water and Politics in the Middle East

  This new CSIS report provides a new perspective on an old topic. The Middle East has battled water insecurity for centuries, but today, the region is on a razor’s edge. Climate change and overuse have threatened water supplies like never before. In a region beset with wars, fragility, and political tensions, it is harder than ever to develop agreements and reforms that would alleviate water scarcity. The trends are clear: By 2050, every single country in the Middle East and North Africa (MENA) will live under extremely high water stress.1

• 10 of 44010 results<< 1 … 6 7 8 … 4,401 >>