MUST-READS

• Bahrain signals willingness to join Arab multinational force in Gaza, US official says

  Bahrain has signalled its willingness to be a member of an Arab multinational force that would administer security in Gaza once Israel ends its war on the embattled enclave, a US official familiar with the Biden administration's plans for the region has told Middle East Eye. US officials have made several overtures in recent weeks to see if Bahrain would be a member of the force that will fill the security vacuum in Gaza until a Palestinian governing authority can be formed, the US official said on condition of anonymity as he was not authorised to speak to the media. Manama has said it wants to take a bigger role in post-war Gaza's governance, pointing to its position as the fourth country to normalise ties with Israel in 2020 as part of the Abraham Accords agreements, the official said.

• Nadhmi Al-Nasr: 140,000 workers involved in NEOM projects around the clock

  NEOM CEO Nadhmi Al-Nasr said that about 140,000 workers are involved in implementing various projects on the NEOM giga city site around the clock.

   Addressing the GREAT FUTURES initiative conference at King Abdullah Financial District in Riyadh on Tuesday, Al-Nasr expected that the number of project workers would rise to 200,000 by 2025. “We have about 5,000 full-time employees from more than 100 countries,” the NEOM chief said.

• Saudi Arabia approves new tax scheme at arrivals duty-free stores

  In big breaking news for the fast-growing Saudi travel retail industry, the Zakat, Tax and Customs Authority (ZATCA) has approved a tax scheme that allows travellers to be exempted from customs duties and taxes when purchasing at duty-free arrivals stores at all land, sea and air customs points in the Kingdom.

• Saudi Arabia issues royal decrees

  Saudi Arabia issued various royal decrees on Wednesday. They are as follows: Prince Abdulaziz bin Mohammed bin Abdulaziz bin Ayyaf Al-Muqrin was appointed special adviser to King Salman at the rank of minister. He is also responsible for carrying out the work of deputy minister of the National Guard. Abdul Mohsen bin Abdulaziz Al-Tuwaijri was relieved of his position as deputy minister of the National Guard and appointed as an adviser to the Royal Court at the rank of minister.

• Saudi’s new mining vehicle picks industry veteran as first CEO

  Saudi Arabia’s Manara Minerals Investment Co. hired veteran dealmaker Pierre Chenard to be its first permanent chief executive officer, as the mining investment firm searches for more assets.

  
  Manara, backed by the Saudi sovereign wealth fund, is spearheading the kingdom’s ambitious plan to become a major player in metals and mining. The vehicle has been tasked with snapping up stakes in mines overseas and funneling the raw materials back to Saudi Arabia for processing.

• How Do You Solve a Problem Like the Houthis?

  The last seven months have made two things clear. First, the Houthi threat to commercial shipping and freedom of navigation is not going to disappear. This will remain true whether there is a cease-fire in Gaza or not – the genie is out of the bottle, and it will be very hard to contain it. Second, the United States does not have a good toolbox to counter the Houthi threat. As Haines told Congress, U.S. actions have “been insufficient to really stop the Houthis from going down this road.” All of this raises the key question: How can the United States deal with a long-term and enduring challenge like Houthi attacks on commercial shipping?

• How new Saudi Pro League rules could have huge Liverpool transfer implications

  The quota for foreign players joining Saudi clubs has been extended from eight to 10 for next season, giving them more freedom to target big names. They could be helped further by plans to attract sponsorship from private businesses for teams not backed by the country’s Public Investment Fund (PIF).

• US Senator Graham says Saudi Crown Prince has clear vision that will change Mideast

  Saudi Arabia’s Crown Prince Mohammed bin Salman has a clear vision that will change the face of the Middle East and help achieve peace in the region, US Republican Senator Lindsey Graham told Al Arabiya in an exclusive interview.

  Noting that he traveled to the Kingdom and Israel four times since Oct 7, Graham said the purpose of his visits was not only “to find a way to end the war, but [also] create peace.”

• Saudi Wealth Fund Slashes Reported Holdings of US Equities

  Saudi Arabia’s sovereign wealth fund slashed the number of US stocks it reported owning at the end of the first quarter, roughly halving its direct holdings in those equities.

  The Riyadh-based Public Investment Fund held US-traded stocks with a market value of about $18 billion as of March 31, down from $35 billion at year-end, according to an analysis of a Form 13F filed Wednesday with the US Securities and Exchange Commission.

• Saudi Arabia launches digital identity service, new passport stamp for Hajj pilgrims

  Saudi Arabia’s Ministry of Interior on Wednesday launched the digital identity service for pilgrims arriving from outside the Kingdom on Hajj visas for this season, the Saudi Press Agency reported.

  The ministry also launched a special passport stamp for pilgrims benefiting from the Mecca Route Initiative.

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