MUST-READS

• Hamas says it’s ready for more ceasefire talks after releasing hostage remains
  Militant group Hamas said on Thursday it was ready to begin talks on the second phase of a ceasefire in Gaza after several hundred Palestinians were released from Israeli jails overnight in return for the bodies of four Israeli hostages. It was the final exchange of the six-week first phase of a ceasefire in Gaza that came into effect on January 19. Israel said on Thursday morning that three of the hostages whose bodies it had received overnight had been murdered in captivity and the fourth had been killed on the day of the October 2023 Hamas raid into Israel that precipitated the war.

• These countries could lose the most, if U.S. stops aid

  The U.S. Agency for International Development, Washington's primary humanitarian aid agency, has been a top target of a government reduction program spearheaded by billionaire and Trump ally Elon Musk since President Donald Trump took office on January 20. Hours after he was sworn in, Trump ordered a 90-day pause to all U.S. foreign assistance pending assessments of efficiencies and consistency with his foreign policy. Four days later, on January 24, the U.S. State Department issued a "stop-work" order for all existing foreign assistance and paused new aid with the exception of waivers for military financing for Israel and Egypt. While the government gave an exemption for emergency food assistance and issued waivers for certain life-saving aid, uncertainty around most other programs has put thousands of jobs and millions of dollars’ worth of aid material in jeopardy. The effects of shutting foreign aid down permanently could have impacts globally, especially for countries in Africa and the Middle East. The U.S. has contributed the largest foreign assistance among countries, according to the Organisation for Economic Cooperation and Development. The majority of USAID programs across the world are non-military in nature. Nearly one-third of all disbursements were for programs in the health sector. Aiding communities living with HIV or AIDS, providing sustainable access to drinking water and sanitation services, improving maternal and child health were among the top programs.

• Saudi Airline Confirms It Is Studying Flying To Miami

  A newly launched Saudi airline is looking at adding service to Miami. Riyadh Air is planning to begin flying by the end of 2025. CEO Tony Douglas was in Miami last week for the Saudi-sponsored FII Priority Summit investment conference at the Faena District. Donald Trump was among those who attended. Douglas said the airline was looking at 100 international destinations by 2030, according to the Saudi Gazette. Miami is among the potential destinations, he said. A 12-hour test flight between Miami and Riyadh was already conducted in 2023.

• GCC real estate market transactions surge over $383 billion in 2024, Dubai leads growth

  The Gulf Cooperation Council’s (GCC) real estate market witnessed notable growth in 2024, with transactions surpassing $383 billion. Overall, the region’s transactions grew by an estimated 25 percent last year, highlighting the sector’s growing appeal among residents and investors alike. In its first-ever residential market report, Sakan revealed that Dubai’s share of the GCC region’s transactions reached 54 percent at $207 billion. Meanwhile, Saudi Arabia’s real estate market recorded $75.7 billion in transactions last year, taking a 14 percent share. Saudi Arabia, Sharjah, Kuwait and Oman witnessed significant growth rates in yearly transactions, ranging between 30 percent and 47 percent.

• Syrian leader hails ‘historic’ dialogue conference

  Syria's interim president has told a national dialogue conference that the country has a "historic" opportunity to rebuild after the overthrow of Bashar al-Assad. Ahmed al-Sharaa also stressed the need for armed groups to integrate into the military and for the state to have a monopoly on weapons, saying Syria's "strength lies in its unity". The 600 delegates have been asked to provide recommendations on transitional justice, the economy, the new constitution and other topics to guide a new transitional government. But there has been criticism that the process has been rushed, and the Kurdish-led militia alliance and autonomous administration which control north-eastern Syria were not invited.

• Saudi Arabia launches first aircraft industrial zone in Jeddah

  Saudi Arabia launched today, Feb. 24, the first industrial zone for aircraft manufacturing and maintenance in Jeddah during the Aerospace Connect Forum currently held in Jeddah. The first industrial licence for aircraft maintenance was awarded to Middle East Aircraft Engines Co., while the second licence was received by Saudia Aerospace Engineering Industries (SAEI). Several MoUs were also signed during the event, including one between the National Center for Industrial Development and Cluster 2 Co. to provide spaces within airports to establish specialized centers for aircraft maintenance, contributing to boosting national industrial capabilities and development.

• Saudi Arabia poised to lead in AI, aims for double returns: PIF Governor

  Al-Rumayyan said that the fund worked to develop the Saudi economy by establishing 103 diverse companies operating in 13 different sectors, both locally and internationally. Since its 2017 strategy launch, the fund has generated over 1.1 million direct and indirect jobs globally, prioritizing quality over quantity of jobs, to promote sustainable development.  He went on to say that the PIF invests heavily in new projects, injecting between $40 and $50 billion annually. This substantial investment demonstrates the fund's dedication to economic diversification.

• Saudi Arabia’s new family law: Key marriage, custody and privacy reforms explained

  The 41-article regulation, which took effect on Friday, marks a significant step in the kingdom’s ongoing legal reforms, reinforcing women’s rights, marital laws, and child custody provisions in line with broader judicial modernisation efforts. Under the new rules, unapproved marriage contracts will now be subject to a structured review, led by the Minister of Justice and other authorities. The ministry has also been granted authority to introduce additional regulations as needed based on evolving judicial applications. The Personal Status Law is one of four key legal frameworks announced by the Crown Prince in February 2021, alongside the Civil Transactions Law, Penal Code for Discretionary Sanctions, and Law of Evidence. Together, these reforms enhance judicial transparency, expand individual rights, and bring Saudi Arabia's legal system closer to international standards.

• Would an end to the Ukraine war be bad news for Saudi Arabia and oil prices?

  The US’s whirlwind bid to resume relations with Russia and end the war has left Europe reeling. The Arab Gulf will be closely watching what that could mean for energy prices and the oil trade. Oil-rich Gulf states were directly impacted by the US’s and European Union’s decision to sanction Russia, which, along with Saudi Arabia, leads an alliance of oil producers dubbed Opec+. A rapid end to the war in Ukraine could mean cheaper commodities, from oil to metals and everything in between, like fertiliser, which requires natural gas for production. “Russian normalisation is a huge boost to get any commodity cheaper than it was before. Vast chunks of the commodity market will be made easily available again,” Viktor Katona, the head of oil analysis at the intelligence firm Kpler, told Middle East Eye.

• Saudi Billionaire Olayan Bets on Female Founders in Deal Spree

  Dara Holdings, billionaire Lubna Olayan’s family office, has made a series of investments since mid-2024 in United Arab Emirates-based startups founded by women. Her firm participated in a $10 million seed funding round disclosed this month for qeen.ai, a Dubai-based artificial intelligence startup co-founded by former Google executive Dina Alsamhan. The family office plans to continue making investments that empower women in the Middle East and is supporting the establishment of a social-impact fund at Alfanar, a UK-registered charity Olayan, 69, helps to lead, according to Dara Chief Investment Officer Walid Haram. “If an investment ticks the boxes, and it supports women in the region, that for us is a big additional plus,” Haram, 44, said in a statement. “It’s a big focus.”  The former JPMorgan Chase & Co. analyst is a principal of Olayan Group, a multibillion-dollar international conglomerate founded by her father in 1947 that she owns alongside members of her family. She served for decades as chief executive officer of its Middle East holding company, Olayan Financing Co., until stepping down in 2019. She now serves as chair of its executive committee and also leads the board of directors for Riyadh-based lender Saudi Awwal Bank.

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