MUST-READS

• Middle East projected to surpass 100 GW of solar capacity by 2030

  Renewable energy sources, including hydro, are expected to account for 70% of the Middle East's power generation mix by 2050, up from only 5% recorded at the end of 2023, according to a research by the company. Solar will be the leading source with a share of over 50% by 2050.

• The Middle East Is the Fastest Growing Real-Time Payments Market Globally For The Second Consecutive Year, Finds ACI Worldwide Report

  For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime Time for Real-Time report, published by ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company.

• A stirring photography show captures the Middle East through a female lens

  The 10 Arab and Iranian photographers featured in “Louder Than Hearts” at the Middle East Institute’s gallery are not only all women, but their subjects are almost entirely female as well. This emphasis feels fitting for the first exhibition curated by Rania Matar, a photographer known for her nuanced, intimate portraits of women and girls in the Middle East and the United States.

• Saudi Arabia Taps Bond Market With $5 Billion Sukuk Deal

  The kingdom sold the bonds through notes maturing in three, six and 10 years, according to a person familiar with the matter, who asked not to be identified. The deal was priced at yields of 60 basis points more than comparable US Treasuries for the shortest tranche and at 85 basis points for the longest tranche, the person said. That’s down from initial discussions for around 85 to 110 basis points.

• Saudi King Salman heads cabinet meeting after medical treatment

  Saudi Arabia’s King Salman bin Abdulaziz headed a cabinet meeting on Tuesday after he underwent medical treatment for lung inflammation last week, the Saudi Press Agency reported.

• Saudi FM: Two-State Solution Basis for Peace, Security in the Region

  The FM, along with foreign ministers and representatives from European countries, was in Brussels to attend a meeting of the Ministerial Committee assigned by the Joint Arab-Islamic Extraordinary Summit on Developments in the Gaza Strip.

• Saudi Arabia is reportedly trying to plug a $21 billion deficit by selling bonds

  The kingdom will issue dollar-denominated three, six, and 10-year sukuk notes as part of an effort to plug a fiscal shortfall that's expected to hit $21 billion by the end of the year, the outlet reported citing an unnamed source.

• ‘Norah’ Review: A Striking Debut About Artistic Repression in ’90s Saudi Arabia

  The first Saudi Arabian film ever selected for Cannes, the tender rural drama “Norah” is writer-director Tawfik Alzaidi‘s first feature film. The story of a schoolteacher tasked with introducing literacy to an isolated village and his unlikely relationship with a precocious young girl, the movie suffers from a few early-career filmmaking tics, which prevent all its pieces from all neatly fitting together. However, it’s also underscored by the kind of optimism and poetry about art that one often finds in novice works from directors destined to make more polished and accomplished films (if perhaps more cynical ones).

• Red Sea Shipping Crisis

  Each year, almost 6,000 container ships travel the world’s oceans and deliver about $7 trillion worth of goods to ports – producing climate-warming carbon dioxide (CO2) emissions along the way. There are about 100,000 ships at sea at a given time, including oil tankers and bulk carriers.

• Israel denies strike on camp near Rafah that Gaza officials say killed 21 people
  Israel's military denied striking a tent camp west of Rafah on Tuesday after Gaza health authorities said Israeli tank shelling had killed at least 21 people there, in an area Israel has designated a civilian evacuation zone.

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