MUST-READS

• Israel-Hamas war live updates: U.S. pushes for temporary Gaza cease-fire at U.N. Security Council

  The U.S. vetoed a U.N. Security Council vote on a resolution calling for an immediate end to the war in Gaza. Algeria introduced the resolution in the hopes of showing how broad the support for a cease-fire is. The U.S. has circulated an alternative draft resolution, which instead calls for a temporary pause in the fighting as part of hostage negotiations and opposes any ground operation in Rafah.

• Opinion: Here’s what an uncoordinated US withdrawal from Syria would look like. It’s bad for many partners, but especially Turkey.

  Reports have surfaced regarding the possibility of the United States withdrawing from Syria completely. Despite officials rejecting these reports and a recent vote in the US Senate exhibiting reluctance among lawmakers to leave Syria, news of a potential US exit has been closely monitored by regional actors. Turkey is among them. While Ankara may favor a future US withdrawal from Syria, it desires US coordination. An uncoordinated withdrawal by the United States could pose significant risks for Turkey, leaving the country alone against Iran and Russia.

• Red Sea Cargo Ship Crew Abandons Vessel Off Yemen After Houthi Attack

  The crew of a commercial ship in the Red Sea abandoned the vessel following a Houthi attack — the first such evacuation since the militant group began menacing trade in the vital waterway late last year. Two-anti ship ballistic missiles damaged the Belize-flagged Rubymar on Sunday evening local time, US Central Command said Monday on social media platform X. A coalition warship and another merchant ship responded to the distress call, and the Rubymar’s crew were transported to a nearby port, it added.

• Amazon Saudi Arabia expands Ramadan meal support drive with Eta’am, enabling millions of customers to contribute through Amazon.sa

  This Holy Month of Ramadan, Amazon Saudi Arabia expands its longstanding partnership with the Saudi Food Bank (Eta’am), further strengthening its support to serve families in need. Building on four years of collaboration to deliver iftar meals, pack and deliver food essentials, organize community iftars, and more, the company will now offer customers across Saudi Arabia a seamless way to contribute essential day-to-day food items to underprivileged families through Amazon.sa.

• Saudi Arabia’s AI economy goals key focus for Oracle at LEAP 2024

  Riyadh, Kingdom of Saudi Arabia: Latest cloud innovation that is geared to help Saudi Arabia accelerate its Artificial Intelligence (AI) powered economy will be on display at Oracle’s state of the art exhibit at LEAP 2024. Oracle will this year present a comprehensive portfolio of AI solutions including state of the art cloud applications on a best-in-class AI cloud infrastructure and state-of-the-art generative AI innovations. “Over the last three decades, Oracle has significantly expanded presence in Saudi Arabia to help the Kingdom emerge as a digital economy leader. Our US $1.5 billion investment in Saudi Arabia will play a vital role in expanding local cloud capacity, which will act as the foundation for local organisations to unlock the full potential of latest digital technologies like Artificial Intelligence”, said Reham AlMusa, vice president – Business Applications, and Saudi Arabia Country Leader, Oracle. “AI is seeing incredible adoption in the Kingdom, as businesses look to innovate and grow. PwC estimates that Artificial intelligence is set to contribute $135 billion to the Saudi economy in 2030, making the Kingdom the biggest beneficiary of the technology in the Middle East. Oracle is well positioned to help Saudi organisations leverage this AI opportunity, and LEAP 2024 will be an opportunity for us to demonstrate how our latest AI innovation can help address the most complex business challenges across diverse industries and help drive growth.”

• Saudi Arabia’s Film AlUla Targets Music Industry With Recording Studio

  Saudi Arabia‘s Film AlUla has announced the construction of a state-of-the-art recording studio, within its recently launched studio complex. Set to open in June 2024, the facility will comprise a 190 sq m (2045 sq ft) studio space, 47sq m (505 sq ft) control room and two Iso booths, as well as catering facilities and a rack room. Film AlUla said it had worked with industry experts to design the facilities, which will provide the latest audio and recording equipment.

• Saudi Arabian conglomerate Ajlan eyes ‘mega deals’ with Chinese companies in tech, new energy, petrochemical sectors

  Ajlan & Bros Holding Group, a private conglomerate headquartered in Riyadh, Saudi Arabia, is targeting “mega deals” reaching over US$1 billion in value with companies in China’s petrochemicals, new energy, and technology sectors in 2024. The company aims to make strategic investments by acquiring equity stakes, providing financial expertise, and offering legal advice to leading players in these industries, said Vincent Yan, its senior vice-president.

• Two deaths from Mers reported in Saudi Arabia in past six months

  Four new cases of Mers, including two deaths in the Middle East, have been reported to the World Health Organisation. In a twice-a-year update on the Middle East Respiratory Syndrome Coronavirus (MERS-CoV) – a disease typically transmitted by camels – four confirmed cases were reported by the Saudi Arabia Ministry of Health in Riyadh and the Eastern and Qassim regions of the kingdom. The deaths occurred between October 19 and December 24, 2023, while all four of those involved, two men and two women aged 59 to 93, had other health conditions.

• Retail sector aiming for $122bn contribution to Saudi GDP by the end of 2024: minister 

  Saudi Arabia’s retail sector contributes 23 percent to the non-oil economy, and is aiming to exceed SR460 billion ($122.6 billion) by the end of 2024, according to a top official.  Majed Al-Hogail, the minister of municipal and rural affairs and housing, highlighted the pivotal role of the industry in the Kingdom’s economic landscape at the 10th Retail Leaders Circle MENA Summit in Riyadh.  He said that this area holds utmost importance as it serves as a key driver in the economy and local gross domestic product, according to a post by the ministry on X. 

• Saudi index at 18-month high leads Gulf market gains

  Most stock markets in the Gulf rose on Monday, led by the Saudi index closing at its highest since August 2022, despite fading chances of early rate cuts globally. U.S. producer prices increased more than expected in January after strong gains in the cost of services that could stoke inflation. Most Gulf Cooperation Council countries, including the United Arab Emirates (UAE), peg their currencies to the U.S. dollar and follow the Fed's policy moves closely.

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