MUST-READS

• UN Warns of Four-Month Lean Period in Yemen

  The Food and Agriculture Organization (FAO) warned that Yemen would be facing a lean period from June to September due to a decrease in humanitarian food assistance in Houthi-controlled areas and a projected increase in food prices in areas held by the legitimate government. In its quarterly food security update, the FAO said that despite a brief relief experienced from mid-March through April this year due to augmented social support (zakat) during the holy fasting month of Ramadan, food security is anticipated to deteriorate from June to September, marking “the peak of the lean period in the country.” FAO noted that during the first quarter of 2024, the food security situation deteriorated compared to the same period last year.

• PGA Championship invites 7 LIV players to get top 100 in the world

  The PGA Championship officially has Tiger Woods in a field released Tuesday that includes invitations to seven players from Saudi-funded LIV Golf, giving the major 99 of the 100 in the world ranking at Valhalla next week. The PGA of America strives to have the top 100 in the world to maintain its reputation for having the strongest field of the four majors, although it is not part of the criteria. Those hopes ended late Tuesday when Rikuya Hoshino (No. 94) withdrew. The PGA leans on a catch-all category of “special invitations.” The group of LIV players includes Patrick Reed, whose tie for 12th in the Masters moved him inside the top 100. He is at No. 92, and the invitation keeps alive his streak of playing every major since the 2014 Masters.

• Italy and Libya sign co-operation agreements

  Italian Prime Minister Giorgia Meloni signed three agreements with Libya during an official state visit on Tuesday, in which she met officials from the Tripoli and Benghazi-based governments in the conflict-torn country. The agreements are part of the Mattei plan, a project in which Italy promised a €5.5 billion ($5.92 billion) investment package for projects in Africa at a summit in Rome in January. Ms Meloni initially met Prime Minister Abdul Hamid Dbeibeh, who leads the National Unity Government in Tripoli.

• Podcast: A Plan to Remake the Middle East

  If and when Israel and Hamas reach a deal for a cease-fire, the United States will immediately turn to a different set of negotiations over a grand diplomatic bargain that it believes could rebuild Gaza and remake the Middle East. Michael Crowley, who covers the State Department and U.S. foreign policy for The Times, explains why those involved in this plan believe they have so little time left to get it done.

• US believes Hamas, Israel can break Gaza ceasefire impasse; Israeli forces cut Rafah aid route

  The U.S. said negotiations on a Gaza ceasefire should be able to close the gaps between Israel and Hamas while Israeli forces seized the main border crossing in Rafah on Tuesday, closing a vital route for aid. Hamas official Osama Hamdan, speaking to reporters in Beirut, warned that if Israel's military aggression continued in Rafah, there would be no truce agreement. The Palestinian militant group accused Israel of undermining ceasefire efforts in the seven-month-long war that has laid waste to Gaza and left hundreds of thousands of its people homeless and hungry.

• Saudi Telecom (STC AB) Posts Best First-Quarter Profit Since 2006

  Saudi Arabia’s top telecom company reported its strongest first-quarter profit since 2006 as it made more revenue from business at home. Saudi Telecom Co.’s net income rose almost 6% year on year to 3.29 billion riyals ($877 million) in the first three months of the year, according to a statement on Wednesday. That beat the average analyst estimate for 3.15 billion. Revenue also exceeded expectations on the back of stronger activity in the commercial unit.

• Saudi Arabia’s $100 Billion AI Fund Says US Is No. 1 ‘Partner’

  “The US is the number one partner for us and the number one market for AI, chips and semiconductor industry.” Amit Midha, the head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology Alat, discusses his strategy. He speaks with Bloomberg on the sidelines of the Milken Institute Global Conference in California.  (Source: Bloomberg)

• Minister of Industry and Mineral Resources Opens Riyadh International Industry Week 2024

  Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef today opened Riyadh International Industry Week 2024, which will run through May 9, at the Riyadh International Convention and Exhibition Center. The event, in which more than 500 companies, 385 international and 115 local, from 24 countries participate, was designed to embrace four exhibitions: the Saudi Exhibition for Plastics and Petrochemical Industries; Printing and Packaging; Smart Logistics Services; and Smart Manufacturing. Various capabilities will be reviewed, such as fair competition, a competitive environment, sustainability and exporting. The accompanying exhibition also includes many activities and events to support and strengthen industry in Saudi Arabia, review industry developments, and discuss ways to improve and develop them.

• Hyatt expands its footprint in Saudi Arabia with two new signings

  Hyatt has signed management agreements with Knowledge Economic City (KEC) for two new Hyatt-branded hotels in Saudi Arabia, Hyatt House Madinah KEC and Hyatt Centric Madinah KEC. Scheduled to debut in the eagerly awaited Knowledge Economic City in Madinah, these properties will contribute 576 keys to Hyatt’s portfolio in Saudi Arabia.

• Riyadh Air Strengthens Partnership with Saudi Tourism Authority to Promote Sector

  Riyadh Air, which is owned by the Public Investment Fund, concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation as part of the national carrier’s efforts to shape the future of tourism in the Kingdom and advance air travel. The new partnership, which was signed at Arabian Travel Market (ATM) in Dubai, focuses on several key areas, including new routes and destinations, joint marketing activities, sponsorship opportunities, presence at key roadshows and international events and accessibility to tourism-related platforms. It also aims to explore collaboration in loyalty programs, leverage world-leading technology and new digital methods and engage in the Tourism Accelerator Program.

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