“When we start seeing authorisations to use Gulf airspace to launch strikes on Iranian targets, then we can start talking about a Middle East Nato. Right now, it’s the exact opposite. I think what we saw from Saturday’s attack pumps the breaks on any idea of an Arab and Israeli Nato.” Bilal Saab, a former US Department of Defence official, now at Chatham House, US push for a ‘Middle East Nato’ failed to emerge during Iran strikes [Middle East Eye]
“According to the latest report by Source Global Research, the GCC consulting market witnessed 13.2 per cent growth in 2023, surpassing the $5bn mark for the first time. Saudi Arabia, boasting the largest consulting market in the GCC, outpaced the overall market with an 18.2 per cent surge in growth, propelling revenues past $3bn.” GCC consulting market set to cross $6bn this year, shows report [Gulf Business]
Princess Reema Bandar al-Saud, Saudi Ambassador to the United States is, “one of the most thoughtful and dynamic leaders on Middle East issues.” Ro Khanna, U.S. Representative (D- CA), Princess Reema, Bandar’s Daughter, Navigates Rough Waters in Washington [New York Times]
“The region is business-friendly. The economy is strong. Power prices are stable. We’re seeing a lot of momentum.” Kamel Al-Tawil, Equinix managing director for Middle East and North Africa, Race for AI Supremacy in Middle East Is Measured in Data Centers [Bloomberg]
“Forbes Middle East’s “30 Most Valuable Banks” index which covers seven markets, revealed that the 30 banks had a combined value of $581.1 billion, up 14 percent over the last 12-month period. Additionally, Gulf entities dominated this year’s ranking, with 26 of the 30 based in the Gulf Cooperation Council.” Saudi Arabia make up a third of Forbes Middle East’s 30 Most Valuable Banks [Arab News]
“The Middle East is increasingly emerging as one of the most desirable locations for foreign investors looking to deploy capital, according to a survey that ranks countries most likely to attract money over the next three years. Efforts toward economic diversification and reforms to business policies have helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.” Christine Burke, Middle East Emerges as Key Region for FDI in Kearney Survey [Bloomberg]
“This month marks eight years since the launch of Saudi Arabia’s Vision 2030. While most Americans (and members of Congress) couldn’t tell you what Vision 2030 entails, they probably have an opinion on LIV Golf, NEOM or Cristiano Ronaldo.” Richard Wilson, President, Saudi-US Trade Group, Co-Host The 966 podcast, Editor of the SUSTG Review, Doing the work: MBS’ true legacy [Al-Arabiya]
“In the relationship that the kingdom and the U.S. have had, there have been multiple highs and multiple lows. And part of my responsibility was to remind everybody in America what the highs looked like, and really work collaboratively to get ourselves back there.”
-HRH Princess Reema Bint Bandar Al-Saud. [NYTimes]
“The fact that the regional architecture or the regional minilaterals did not disintegrate even after the catastrophe in Gaza gives you an indication about this idea and the thesis that there’s a regional order taking place. You have the EastMed Gas Forum in Cairo ( East Mediterranean Gas Forum ), the NEGEV Forum with five or six Arab countries, and Israel. You have the I2U2 and the IMEC… The very fact that these organisations did not disintegrate gives you an idea that they still perceive this (normalisation) as the way forward.” Mohammed Soliman, Arab nations are rediscovering India [Firstpost]
“2024 presents a rare opportunity for profitable capital deployment and property acquisitions in a recovering market with attractive price entry points that will emerge to create appreciation potential for investors in the long term,” Ziad Chehab, director of real estate at Kamco Invest, Why are more Middle East investors seeking US property deals? [The National]
