MUST-READS

• Iranian top diplomat due in US amid fears of Iran-Israel war

  Amid expectations of retaliation for Israel’s suspected killing of senior Iranian military figures in Syria, Tehran’s top diplomat is set to travel to New York next week, Amwaj.media has learned. Informed sources say Foreign Minister Hossein Amir-Abdollahian plans to attend a UN Security Council meeting on Palestine, likely to be held on Apr. 18. While the US State Department has declined to comment on the visit, Iranian sources have alleged that entry visas have been issued for Amir-Abdollahian and his entourage.

• Ramadhan TV dramas test cultural limits in Iraq, Kuwait

  The arrival of Ramadhan has been accompanied by controversy in Iraq and Kuwait. The Islamic lunar month is famous for bringing with it new TV shows. This time, contention in the two countries is revolving around dramas accused of misrepresenting society, stoking sectarian tensions, and insulting religious figures. The recurrence of such debates in recent years has prompted questions over just how open TV shows in the region can be given deeply entrenched cultural and religious norms.

• Operation Aspides: The European Union’s Response to the Red Sea Crisis

  On February 19, the European Union launched a new maritime security operation, EU Naval Force Operation Aspides, in response to escalating Houthi attacks on Western warships and merchant vessels in the Red Sea basin and northwestern Indian Ocean. The name Aspides, which means “shields” in Greek, denotes the operation’s underlying defensive nature. The EU naval mission, carried out under its Common Security and Defense Policy, underscores how ensuring maritime security and maintaining the stability of global supply chains are front and center in the EU’s defense and trade strategic calculus.

• EV Ownership Ticks Up, but Fewer Nonowners Want to Buy One

  Seven percent of Americans, up from 4% a year ago, report that they own an electric vehicle. That increase is matched by an equal decline in the percentage saying they are seriously considering buying one, from 12% to 9%. Meanwhile, fewer Americans -- 35%, down from 43% in 2023 -- say they might consider buying an EV in the future. Thus, even as some people have moved ahead with their intent to buy an EV in the past year, public demand for the cars has contracted.

• Turkey restricts exports of 54 products to Israel until Gaza cease-fire

  As Israel pledged to retaliate, analysts believe the move is aiming to allay growing dismay among Turkey's Islamists for the government’s refusal to sever trade ties with the Middle Eastern country over the Gaza conflict. Read more: https://www.al-monitor.com/originals/2024/04/turkey-restricts-exports-54-products-israel-until-gaza-cease-fire#ixzz8WuE3JpMi

• Doing the work: MBS’ true legacy

  Given our clickbait, short-attention-span media reality, we can’t really be surprised that Saudi Arabia’s splashy external investments and massive ‘giga’ projects are the glitter that catches the eye of the inattentive. In fact, while the Kingdom’s high-profile investments and massive construction projects actually do serve a purpose, the truly meaningful change that should matter to Americans and its elected officials is happening elsewhere.

• Opinion: A New Era of Saudi Diplomacy Has Arrived

  Engagement allows Saudi Arabia to devote its energies to the economic transformation agenda of Vision 2030 while also enhancing its global influence. However, the renewal of conflicts, both within and outside the Middle East, has revealed Saudi diplomacy’s limitations and highlighted the kingdom’s persistently high level of geopolitical risk.

• Canoo Teams Up with Red Sea Global for EV Pilot Program in Saudi Arabia

  The U.S. electric vehicle startup Canoo signed on Monday a partnership with Red Sea Global (RSG) to pilot its electric vehicles at the renowned regenerative tourism destinations, The Red Sea and AMAALA. AMAALA is an ultra-luxury tourism destination being developed along the Red Sea coast in northwestern Saudi Arabia with more than 4,000 sq. km — yes, km. The first phase of the luxurious complex is expected to be finished by 2025.

• Saudi insurers lead GCC region in net profit and revenues, study shows

  The net profit of insurance companies in Saudi Arabia surged by 1,221.3 percent year-on-year in 2023 to $861 million, driven by favorable economic conditions. According to the report released by research firm Insurance Monitor, in association with Lux Actuaries and Consultants, four firms from the Kingdom grabbed their spots on the list of the 10 largest coverage companies in the Gulf Cooperation Council region in terms of revenue. The rankings come as 2023 saw the start of operations of the Insurance Authority in Saudi Arabia, described in the study as “a significant structural reform well-timed with the robust growth in insurance revenue to pave the way for regulatory independence and sectoral advancement.”

• Electronic payments rise by 70 pc in Saudi Arabia

  As reported by the Saudi Press Agency, 10.8 billion transactions were processed in 2023 compared to 8.7 billion transactions in 2022. The e-commerce sector is expected to exceed $13.2 billion by 2025, after a 60 per cent surge in online shopping in 2019-20. Reports suggest close to 91 per cent of Saudi consumers now shop through e-commerce, and close to 14 per cent of money is spent online at least once a day. In 2023, Amazon Saudi also doubled its storage capacity in the year 2023. It had launched a 2.7 million cubic foot fulfilment centre in Riyadh that can house more than 9 million products.

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