MUST-READS

• S&P raises Saudi Arabia’s rating 0ver ongoing reforms

  S&P Global Ratings has upgraded Saudi Arabia’s rating to “A+” from “A” with a stable outlook, citing socioeconomic and capital market reforms. Strong non-oil growth and rising oil volumes from 2025 will support medium-term growth prospects, it said. Saudi Arabia’s National Debt Management Centre welcomed the upgrade, saying it would allow the kingdom to issue international bonds and sukuks at more favourable rates. The Saudi finance ministry had previously indicated that Saudi Arabia needed to borrow SAR139 billion ($37 billion) in 2025 to cover its budget deficit.

• ‘Iran on notice,’ says Pentagon spox of ongoing strikes against Houthis

  U.S. forces are continuing strikes on Houthi sites in Yemen that began over the weekend, Pentagon officials told reporters on Monday, and the strikes will continue until the terrorist group agrees to stop shooting at ships in the Red Sea. The Houthis had apparently not attacked a ship since January, when Israel and Hamas agreed a ceasefire, but said last week that they would respond to Israel's airstrikes and food blockade in Gaza by resuming attacks on "Israeli ships"—whose loose definition has in the past included a broad swath of vessels. Saturday’s initial wave of U.S. airstrikes struck 30 targets, including weapons plants and depots, training sites, and drone-launching sites, said Air Force Lt. Gen. Alexus Grynkewich, the Joint Staff’s operations director.

• Can Saudi Arabia’s Oil Sustain Its Dominance Amid Global Push for Renewables?

  Saudi Arabia aims to solidify its position as the world’s top oil supplier, with Aramco planning to boost production. The state-owned giant will increase output to 13 million barrels daily by 2030 to meet rising global demand. On March 18, 2025, Aramco outlined its production target as part of Saudi Arabia’s Vision 2030, a strategy to diversify the economy and reduce dependence on oil revenues. Analysts highlight how Aramco’s move aligns with growing global tensions and demand, which push oil prices higher. Alongside Aramco, other major Saudi companies like Sabic, Rabigh Refining, and Petrochemicals advance projects that align with the country’s energy goals. These companies focus on developing technologies to boost efficiency and sustainability.

• Will Gulf States Invest in Lebanon Again Amid Hezbollah’s Decline?

  Lebanon and the Gulf Cooperation Council (GCC) states have a rich history of mutually beneficial ties. Since the 1950s, highly skilled and educated Lebanese professionals migrated to the Persian Gulf, working in sectors such as business, health, hospitality, media, construction, and tourism. By sending back remittances to Lebanon, these Lebanese expatriates significantly contributed to the Gulf’s development. Before the Lebanese civil war erupted in 1975, Lebanon was also a regional banking center where Gulf Arabs kept their money. Many bought vacation homes in Lebanon and spent summers there. Once a beacon of free speech in the Arab world, Lebanon was home to popular newspapers that gave platforms to influential Arab journalists and intellectuals who did not have the same opportunities in their own countries. The Gulf states, along with Libya and Iraq, invested in Beirut-based publishing houses and print media.

• Trade wars and oil woes fuel market uncertainty

  Between 10am and 4:30pm on March 11 the tariff rate on Canadian aluminium and steel imports to the US was hiked to 50 percent, then dropped back to the original 25 percent. Pity the unlucky trucker who crossed the border a few minutes late. With such turbulent policy it’s no wonder that stock markets and oil prices are nosediving. Brent crude has slid almost continuously since a peak at $82.03 per barrel on  January 15, just before Donald Trump’s inauguration. It slid below $70 on March 10. With the exception of a blip in September, it has not been so low since late 2021. Two years of unusual stability, post-Covid and post-first phase of Russia’s war on Ukraine have come to an end.

• Experts react: Trump just ordered major strikes against the Houthis. What does this mean for Yemen, Iran, and beyond?

  “We will use overwhelming lethal force.” That’s how US President Donald Trump described a campaign of airstrikes he launched Saturday in Yemen against the Houthis. The Iran-backed militia has been disrupting international shipping in the Red Sea since October 2023, and has continued to operate despite previous rounds of US and allied airstrikes. How exactly is the second Trump administration executing its largest military campaign yet? What will the impact be on the region? And what does this signal about Trump’s approach to Iran? Our experts responded in force with the answers.

• US ends Iraq’s Iran electricity waiver, stoking crisis and opportunity

  The Donald Trump administration has declined to renew a sanctions waiver for Iraq's electricity imports from Iran, raising the spectre of a power crisis in Baghdad. Part of Trump’s "maximum pressure" policy towards the Islamic Republic—and with the Iraqi banking sector also seemingly in Washington’s crosshairs—the move has stoked fears that the fallout could reverse Iraq’s delicate economic and security gains, particularly in an election year.

• Grand Mufti rules against posting prayers and preaching in mosques on social media

  Saudi Grand Mufti and Chairman of the Council of Senior Scholars Sheikh Abdul Aziz Al-Sheikh called on imams and preachers to be sincere and avoid hypocrisy and showing off. He cited filming and posting prayers and preaching in mosques during the holy month of Ramadan on social media and channels as an example of incompatibility with sincerity. The Grand Mufti said this in a religious edict (fatwa) in response to a question about the decision taken by the Ministry of Islamic Affairs, Call and Guidance to ban filming and posting prayers and lectures on social media. “This issue was a serious one before the decision of the ministry to ban filming and posting prayers and lectures on social media as part of the measures to ensure avoiding errors that may occur,” he said while noting that there is the issue of sincerity, which is a condition for the acceptance of any act of worship. “There are two conditions to accept any work. They are sincerity to God, and that the work is in accordance with the spirit of the Holy Qur’an and the Prophet’s Sunnah,” he said.

• Despite tough talk, economic woes may force Iran to bargain with Trump
  For Iran's clerical leaders, engaging with the "Great Satan" to hammer out a nuclear deal and ease crippling sanctions may for once be the lesser of two evils. Though it harbours deep mistrust of the United States, and President Donald Trump in particular, Tehran is increasingly concerned that mounting public anger over economic hardships could erupt into mass protests, four Iranian officials said. That's why, despite the unyielding stance and defiant rhetoric of Iran's clerical leaders in public, there is a pragmatic willingness within Tehran's corridors of power to strike a deal with Washington, the people said.

• Saudi Crown Prince, Putin discuss bilateral cooperation and Ukraine conflict

  The Crown Prince emphasized the Kingdom’s commitment to doing everything possible to support dialogue and find a political solution to the conflict in Ukraine. The Russian President expressed his continued support for these efforts, according to the SPA. The conversation followed a Tuesday meeting in Jeddah, where Ukrainian and American officials convened under the auspices of Saudi Arabia to discuss Ukraine-Russia ceasefire proposal. At the meeting, Ukraine expressed readiness to accept the US proposal for a 30-day interim ceasefire, with Washington committing to discuss proposals for a lasting peace that ensures Ukraine’s long-term security.

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