MUST-READS

• EV maker Lucid beats first-quarter delivery estimates as price cuts boost demand
   Lucid reported first-quarter deliveries above market expectations on Tuesday as price cuts helped boost demand for its luxury electric sedans, sending its shares up about 3%.
  The electric-vehicle startup handed over 1,967 vehicles in the first quarter, compared with estimates of 1,745, according to eight analysts polled by Visible Alpha.
  Lucid in February had cut prices of its flagship Air sedans by 1% to 10% to support demand at a time when consumers are rethinking EV purchases and turning to more affordable hybrid alternatives due to high interest rates.

• Morocco Among ‘Big 5’ Wealthiest Countries in Africa

  Morocco has yet again locked a place in the “Big 5” wealth markets in Africa in 2023, according to an annual report from the consultancy firm Henley and Partners (H&P).

  Released this week, the report ranks Morocco in fifth place, behind South Africa, Egypt, Nigeria, and Kenya. Together, these five countries are home to 56% of Africa’s high-net-worth individuals and over 90% of the continent’s billionaires.

• Iran’s strikes did little damage to Israel — but analysts say Tehran benefits anyway

  “For other countries in the region, the Iranian attack on Israel is a preview of the nightmare scenario involved in a direct confrontation with Iran,” Alhasan told Breaking Defense. “Whereas Israel has the capabilities and Western support it needs to intercept most of Iran’s missiles and UAVs, other states in the region (which are less capable and geographically closer to Iran) do not.”

• Flooding spotlights Dubai construction quality

  Each flooding incident will have its own specific issues, but the reasons will come from three key areas: design, construction and maintenance. Many projects will not have been designed to cope with such a deluge. Others will have been poorly constructed, allowing water to ingress into properties, and others will have drainage that was poorly maintained and failed when it was most needed. Dubai is heavily incentivised to address these concerns. In the past, Dubai has been a transient city with many expatriates living and working in the emirate for only a few years. There has been little collective memory of major weather incidents.

• One Gulf City Preserves Streets After Others Bulldozed Old Buildings

  Although Sharjah has its share of generic office towers, its leaders are preserving swaths of the city. Its original center is undergoing a rebirth as a heritage and arts district, known as the Heart of Sharjah. Scheduled for completion in 2025, it offers visitors narrow, old-style alleys; an old souk, or market; and museums in historic buildings.

• Commentary: The Next U.S. Administration to Confront a Middle East of New Partnerships, New Tensions, as the End of History Repeats Itself

  The Gaza war, with its potential for regional escalation, is just one (albeit major) concern in a region prone to instability, insecurity, and unpredictability. This paper puts the evolving crisis and nuclear proliferation concerns in the Middle East into global context, alongside other U.S. foreign and domestic policy priorities, such as Russia’s war in Ukraine, competition with China, and the U.S. economy.

• Israel conducted strike on Iran, senior U.S. official says

  Fars news agency, which is affiliated with Iran's Islamic Revolutionary Guard Corps (IRGC), reported explosions were heard in the city of Isfahan in central Iran near an Iranian air force base.

• Tehran plays down reported Israeli attacks, signals no retaliation
  Explosions echoed over an Iranian city on Friday in what sources described as an Israeli attack, but Tehran played down the incident and indicated it had no plans for retaliation - a response that appeared gauged towards averting region-wide war.
  The limited scale of the attack and Iran's muted response both appeared to signal a successful effort by diplomats who have been working round the clock to avert all-out war since an Iranian drone and missile attack on Israel last Saturday.

• Iran vs Israel: A look at their air forces amid fears of extended conflict

  The Iranian air force has 37,000 personnel, but decades of international sanctions have largely cut the country off from the latest high-tech military equipment, according to the International Institute for Strategic Studies in London (IISS).

• US aid to Ukraine moves closer to possible passage

  The U.S. Congress moved closer on Thursday to ending a months-long stalemate and voting on legislation to provide billions of dollars in security assistance to Ukraine, Israel and Taiwan, despite bitter debate over the measure ahead of a weekend vote. Members of the Republican-led House of Representatives Rules Committee spent hours debating the package of four bills: three providing the security aid and a fourth with measures including sanctions, a threat to ban the social media app TikTok and the potential transfer of seized Russian assets to Ukraine.

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