MUST-READS

• What Iranian-Saudi normalization means for Qatar

  Mindful of these dynamics, it is critical to examine the direction of the foreign policy tendencies of the Gulf Arab states in the nexus of eastern and western power. Here, the future of the conflict in Syria is at the forefront of understanding how the triple consortium of Iran, Saudi Arabia, and China can influence the foreign policy of Qatar—an important regional actor and US ally that has promoted diplomacy with Iran but opposed normalization with Syrian President Bashar Al-Assad.

• Saudi Public Investment Fund ranks 5th with worth $620bn

  The ranking of Saudi Arabia’s Public Investment Fund (PIF) has improved from sixth to fifth place among the largest sovereign funds in the world for the first time, with assets valued at SR2.3 trillion ($620 billion). The fund’s share of the world’s sovereign wealth has increased to 6.2%, up from 5.9%, according to Arab News. Since the launch of Saudi Vision 2030 in 2016, PIF’s assets have increased in value by 308% They amounted to $152 billion at the end of 2015, it added.

• Yacht With 3 Russians Aboard Missing Near Saudi, Yemen: Embassy

  A yacht carrying three Russian nationals is missing in the Red Sea off the coast of Saudi Arabia and war-hit Yemen, the Russian embassy in Riyadh said on Monday. The Djibouti-bound vessel named "30 Minutes" refuelled on April 17 in the southern Saudi port of Jazan, but "radio contact was lost" two days later, the embassy said in a statement. The Red Sea is a major shipping lane that has witnessed a series of attacks on vessels by Yemen's Huthi rebels, who have been fighting a war against a Saudi-led coalition backing Yemen's internationally recognised government since 2015.

• Long-Running Turkey-Iraq Oil Dispute Continues to Simmer, Despite Court Decision

  As Turkey approaches pivotal elections, the International Chamber of Commerce’s Court of Arbitration in Paris has ruled against it in a long-running dispute with Iraq regarding crude oil exports from Iraq’s semiautonomous Kurdistan region. After losing the case, Turkey was ordered to pay Iraq around $1.5 billion for limited aspects of breach of contract from 2014-18. The ruling, which was made public March 25, three days after Iraqi Prime Minister Mohammed al-Sudani visited Ankara, will likely lead to some shifting in the Ankara-Erbil-Baghdad relationship as the parties seek to turn the page on energy issues.

• Netanyahu Blasts Obama on Iran in New Memoir

  The U.N. speech was carried by television channels worldwide. The front page of most of the leading newspapers in the world featured a photo of me holding the diagram on the U.N. podium. A zillion memes blossomed mocking the bomb presentation. This was fine with me. As long as they got my red line right.

• 11 Climate Tech Investments Where VC Funding Is Ramping Up

  For early-stage investors, solar panels and electric vehicles are so 2011. By now these are relatively mature products built on the work of previous decades. They’re doing the job they were built for: gradually replacing fossil fuels. In fact, solar and wind are cheaper than coal in most of the world today. That means market forces will turn power grids a deeper shade of green with each passing year, and VCs can focus on electrifying everything else.

• 11 Climate Tech Investments Where VC Funding Is Ramping Up

  The overwhelming majority of finance that finds its way into climate tech still goes into transport and energy startups. But looking at the deal count, it’s easy to pick out the pattern of rising interest in climate-tech startups that focus on green buildings, climate analytics, carbon capture and more.

• Saudi real estate: Is now a good time to buy? Here’s what you need to know

  Saudi Arabia’s booming economy has piqued the interest of many expats looking for a lucrative investment opportunity, with some considering investments in real estate. With new laws coming into force soon that will alter the requirements of foreign homeownership, a real estate expert believes now may not be the best time to invest despite the impending influx of rental-seeking expats into the country as companies rush to set up headquarters in the Kingdom before the year’s end.

• Statement from President Joe Biden on the Situation in Sudan

  Today, on my orders, the United States military conducted an operation to extract U.S. Government personnel from Khartoum.  I am proud of the extraordinary commitment of our Embassy staff, who performed their duties with courage and professionalism and embodied America’s friendship and connection with the people of Sudan.  I am grateful for the unmatched skill of our service members who successfully brought them to safety.  And I thank Djibouti, Ethiopia, and Saudi Arabia, which were critical to the success of our operation.

• Oil boost complements Saudi Arabia’s economic reform agenda

  While higher employment of Saudi nationals — especially women — in the private sector is noteworthy, the private sector itself has experienced muted growth in the first half of Vision 2030. Accounting for 40% of GDP at the start of the programme, this has subsequently grown to just 43% halfway through, falling well short of the programme’s target of 60% by 2030. This target was later revised up to 65% under the country’s National Investment Scheme (NIS) in October 2021.

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