MUST-READS

• Trump’s message is clear: US free speech principles don’t apply to Palestine supporters

  Recent years have seen increasing efforts to go beyond the informal methods of suppressing pro-Palestinian perspectives such as often false accusations of anti-Semitism, ostracism, or negative professional consequences. States and state-run institutions have been increasingly attempting to legislate financial, professional, contractual and other penalties for criticism of Israel and its occupation that began in 1967. During last year’s election campaign, US President Donald Trump vowed to crush such views. He described student opposition to the Gaza war as part of a “radical revolution” that “has to be stopped now”, so “we’re going to set that movement back 25 or 30 years”. This did not appear to phase the numerous Arab and Muslim Americans who voted for Mr Trump or, at least, helped him by staying home or supporting irrelevant candidates.

• Multinational Exercise Spears of Victory 2025 in Saudi Arabia Concludes

  The Saudi Arabian annual multinational exercise, Spears of Victory, was held this year from Jan. 26 to Feb. 6 by the Royal Saudi Air Force’s (RSAF) Air Warfare Center, located at King Abdulaziz air base near Dhahran. The exercise is considered one of the largest multinational exercises in the Middle East and aims to strengthen military partnerships, with 15 nations involved. RSAF Maj. Gen. Mohammed bin Ali Al-Omari, the commander of the exercise, said that the aim was to enhance allied combat readiness (especially in the electronic warfare field), provide a ground for the exchange of expertise in planning and implementation, and to promote joint operational strategies. This year, more than 70 air assets from nine countries took part in the large-scale exercise: Saudi Arabia, Bahrain, Greece, France, Qatar, the UK, the US, the UAE, and Pakistan. Furthermore, seven additional countries participated as observers: Australia, Egypt, Italy, Jordan, Morocco, South Korea, and Spain.

• Saudi Aramco to acquire 25% stake in Unioil Petroleum Philippines
  Saudi Arabia's Aramco (2222.SE), opens new tab has signed an agreement to acquire a 25% equity stake in Unioil Petroleum Philippines, the company said in a statement late on Wednesday. The company, however, did not disclose financial details of the transaction. Established in 1966, Unioil is a downstream fuels operator with a network of 165 retail stations and four storage terminals in the Philippines, the statement said. The deal follows Aramco's previous retail acquisitions in Chile and Pakistan. Aramco said the Unioil stake acquisition represents further progress in its strategic downstream expansion and growth of its global retail network. It added that the deal aims to capitalise on anticipated growth of the high-value fuels market in the Philippines, and it planned to extend its brand and retail offerings such as Valvoline-branded lubricants to select retail stations in the country.

• Full Donald Trump speech at Miami FII investment summit hosted by Saudi Public Investment Fund

  President Donald Trump spoke at an investment summit in Miami on Wednesday, Feb. 19, 2025. Saudi Arabia's sovereign wealth fund hosted the conference, which brought together global financiers and tech executives, including Elon Musk.

• Saudi Arabia’s SMC Plans IPO in Latest Health-Care Offering

  Saudi Arabia’s SMC Hospitals is planning an initial public offering iSaudi Arabia’s SMC Hospitals is planning an initial public offering in Riyadh, joining the host of health-care firms going public in the kingdom.n Riyadh, joining the host of health-care firms going public in the kingdom. The hospital operator is working with SNB Capital and EFG Hermes on the potential share sale, people familiar with the matter said. The deal could come as early as the second quarter of this year, the people said, declining to be named while discussing confidential information. SMC operates two hospitals in Riyadh and has a third one under construction, in addition to 250 outpatient clinics, according to its website.

• From oil to futures: Why the Gulf is well placed to play a key role in global decision-making
  The GCC is transitioning from an energy hub to a future-focused leader in global technology, investing in emerging tech, economic diversification and cultural outreach. By leveraging sovereign wealth funds, advancing AI governance and launching projects like Saudi’s new city NEOM and Abu Dhabi’s Masdar City hub, the region is shaping tomorrow’s economy and strengthening its role in future tech revolutions. As global power structures shift, the GCC also has an unprecedented opportunity to redefine its role in global decision-making. Through inclusive dialogues and multi-stakeholder engagement, the Gulf region can set a new standard for resilient governance in a complex, multipolar world.

• Navigating Trump’s unpredictability: What next for Gulf-US ties?

  The Gulf Arab monarchies see the Trump administration’s vision for Palestine aligning with right-wing Israeli fantasies at the expense of regime security in Arab countries, which have long been close US allies. There is no doubt that there will be an impact on how GCC states look at Washington. As much as Gulf Arab leaders have tended to value Trump’s business-oriented approach to the Gulf, which avoids emphasis on human rights or talk of “values” steeped in liberal idealism, the chaotic nature of his leadership unsettles them. Rather than pursuing aggressive and maximalist foreign policy agendas, Saudi Arabia and other GCC states are instead focused on promoting greater stability in the region. Such stability in the neighbourhood is necessary for the success of their economic diversification and development initiatives such as Saudi Vision 2030.

• GCC aims for $188bln tourism income in 2030

  Gulf oil producers seeking to diversify their sources of income away from unpredictable crude exports have set a target to achieve nearly $188 billion in tourism revenues in 2030, a Gulf official has said.  Tourists who visited the six-nation Gulf Cooperation Council (GCC) spent a record high of nearly $110 billion in 2023, said Abdullah Al Rubai, Head of the GCC’s Human and Environmental Affairs Sector. Nearly 68.1 million tourists visited the six members in 2023 and almost 27 percent of them were GCC citizens, he told Qatar’s Alsharq newspaper this week. “The number of tourists who visited the GCC in 2023 accounted for nearly 52.9 percent of the 128.7 million targeted in 2030,” Al-Rubai said.“They spent a total $110 billion during that year…the figure accounts for nearly 58.7 percent of the $188 billion targeted in 2030.”

• Stadium naming rights for sale ahead of World Cup

  It is early days yet but the commercial case for local and international private sector companies sponsoring sports arenas in Saudi Arabia may yet emerge, after the 2034 host of the Fifa World Cup opened its stadiums to naming rights. For the moment, however, it looks as if state-backed companies with a mandate to promote the kingdom as well as themselves will dominate the space, even as sports in Saudi Arabia becomes increasingly commercialised.  “In the early stages, sponsors may primarily be state-backed entities, but the aspiration will be to attract private-sector interest in naming rights as matchday and TV audiences grow,” said Ben Gordon, associate partner at Albright Stonebridge Group, a consultancy based in Washington DC. “As Saudi Arabia becomes increasingly prominent in the boxing and mixed martial arts world, both Saudi and foreign companies may see a commercial case for sponsoring arenas.”

• Middle East oil producers claw back India market share from Russia

  The Gulf producers – led by Iraq, Saudi Arabia and the UAE – have made gains as US-led sanctions on Moscow bite and Chinese buyers take more Russian oil. Middle East oil exports to India, which is poised to become the world’s fourth-largest economy next year, rose to a two-year high in the first half of this month, according to energy intelligence consultancy Vortexa. The Middle East’s market share now stands at 55 percent, up from 50 percent in December and January. However, the figure is still below the the 60 percent share before Russia’s full-scale invasion of Ukraine in 2022. When international sanctions were imposed on Moscow, it started selling oil at a discount and India became a big buyer. That took market share away from the Middle East.

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