MUST-READS

• Ahmed al-Sharaa’s Visit to Saudi Arabia and Turkey

  These visits are very important for al-Sharaa and Syria because they have the potential to shape the country’s future. First, al-Sharaa wants to increase his legitimacy as a leader and secure the support of regional countries for the new regime in Syria. His visits outside Syria as the country’s leader and his reception by prominent leaders in the region contribute to establishing his status and strengthening him. In this context, it is important to note that in recent weeks, many diplomatic delegations from around the world have visited Syria, including the Emir of Qatar, Tamim bin Hamad Al-Thani, who visited the country on January 30.

• Saudi Pro League shifts away from megastar signings to focus on youth

  It was striking that in a month when Neymar left Saudi Arabia after costing Al-Hilal hundreds of millions of pounds and playing only seven games in return, the Saudi Pro League’s clubs turned more and more to youth. The transfer window closed on Friday with a couple of big deals but there was activity before; it just happened to be quieter and less headline-grabbing. “Many players dream of playing alongside Cristiano Ronaldo and I have now fulfilled that dream,” Jhon Durán said on Monday after making his Al-Nassr debut, perhaps inadvertently emphasising the age gap between them. At 21, the Colombian is very much a football generation or two removed from the five-time Ballon d’Or winner. The reported £71m the Riyadh club paid to Aston Villa for Durán is the second biggest in the league’s history, second only to Neymar’s deal. And as that Brazilian left Al-Hilal in came another, Kaio César joining from Portugal’s Vitória de Guimarães. The winger, who scored on his debut, is only 20.

• Jordan’s king welcomes Saudi support for Palestinian rights

  He expressed his appreciation during a telephone conversation with the Kingdom’s Crown Prince Mohammed bin Salman, a day after US President Donald Trump suggested the removal of all Palestinians from Gaza so the US can take over the territory and rebuild it for others to use. “The US will take over the Gaza Strip and we will do a job with it, too; we’ll own it,” he said during a joint press conference with Israeli Prime Minister Benjamin Netanyahu at the White House. During their call, King Abdullah and the crown prince discussed the latest developments in the region and efforts to achieve security and stability, the Saudi Press Agency reported.

• Trump’s Gaza shock wave stuns Middle East and some in White House

  Leaders in Egypt, Jordan and the Palestinian Authority were already horrified by Trump's repeated comments over the last two weeks about expelling Palestinians from Gaza. They will be even more nervous now. Trump's comments also shocked Saudi Arabia — a country which the president described Tuesday as a key partner in implementing his plans in the region, a U.S. source close to the Saudis told Axios. The Saudis were also upset about Trump's claim at the top of his meeting with Netanyahu that the kingdom won't condition normalization of relations with Israel on Palestinian statehood. Although it was around 4 a.m. in Riyadh, the Saudi Foreign Ministry issued a strongly worded statement rejecting that claim and opposing Trump's plan for displacing Palestinians. "The Saudi crown prince doesn't want to be seen as being part of what Trump is talking about," the U.S. source said.

• Middle East: Trump’s Gaza takeover remarks met with backlash

  Germany's Foreign Minister Annalena Baerbock said on Wednesday that the Gaza Strip belongs to the Palestinians.  The expulsion of Palestinians from Gaza would be unacceptable and contrary to international law, she said in a statement. The statement didn't mention US President Donald Trump, who a day earlier, suggested that the US could take over the war-ravaged Gaza Strip and develop it economically after Palestinians are resettled elsewhere. "There must be no solution over the heads of the Palestinians," said Baerbock. She added that Europe was ready to play its part with the US and regional partners to rebuild Gaza.

• Commentary: Trump’s Gaza ‘Riviera’ plan is the most outlandish idea in the history of US Middle East peacemaking

  In a few words, Trump conjured up a mind-boggling geopolitical transformation of the Middle East and a political lifeline for Netanyahu – showing why the prime minister, despite their past tensions, was rooting for his host’s return to power in the 2024 election. Netanyahu can now bill himself to right-wing factions in his coalition, which incessantly threaten his grip on power, as the unique and vital conduit to Trump. The American president’s views now parallel Israeli hardliners’ desire to see Palestinians ousted from part of what they view as the sacred land of Israel. Trump’s comments – delivered throughout the day, first at an executive action signing ceremony, and later alongside Netanyahu in the Oval Office and at a joint news conference – were a landmark moment in the history of US peacemaking in the Middle East. To see an American president endorse what would be the forcible expulsion of Palestinians from their home, in an exodus that would subvert decades of US policy, international law and basic humanity, was breathtaking.

• Distinguishing Myth From Reality: Saudi Arabia’s Trade and Investment With the United States

  Verifying the numbers quoted by Trump, Al-Jadaan, and Crown Prince Mohammed Bin Salman is not easy. Definitions are not always clear, data on Saudi investment in the United States is not comprehensive, and there are errors and omissions in the Saudi balance of payments data that could mean its imports are underrecorded. With these constraints in mind, the following is a best effort at pulling together the relevant information on U.S.-Saudi trade and investment relations to see which numbers stand up to scrutiny and which do not.

• Saudi Arabia Defers $1.2B Oil Payment By Pakistan

  Pakistan has signed an agreement with the Saudi Fund for Development to defer a $1.2 billion payment on the country's oil imports by one year, the office of Pakistan's prime minister said on Monday. "This project will strengthen Pakistan's economic resilience by securing a stable supply of petroleum products while reducing immediate fiscal burdens," Prime Minister Shehbaz Sharif’s office said when welcoming the signing of the oil import financing facility. Pakistan has been experiencing an economic crisis since 2022, characterized by high inflation, high debt, job cuts, and a struggling fiscal position. At some point the country was facing a severe shortage of foreign exchange reserves and risked defaulting on its debt obligations.

• Saudi Arabia champions youth as it drives talent development to fuel Vision 2030

  Figures from the General Authority for Statistics released in 2023 show that 63 percent of the Kingdom’s population is under 30 years old, and the government and private sector are working hand-in-hand to shape the coming era. “Digital literacy is essential, as technological advancements require the younger generation to not only be proficient in the latest advancements but also drive innovation in areas like AI and data analytics,” Riyadh Al-Najjar, PwC Middle East chairman and Saudi Arabia country senior partner, told Arab News.  He added: “An entrepreneurial mindset is equally important, as the success of Vision 2030 relies on growing the private sector. Young people need to be able to spot opportunities, think critically, and solve problems that add value to the economy.”

• Gulf sovereign wealth funds drive $36bn+ mega-deal boom as UAE, Saudi buck global M&A slowdown

  Strategic inbound and domestic M&A activity in the region surged 88 per cent year-on-year to reach $36 billion during the first 10 months of 2024, according to new research from Bain & Company, contrasting sharply with more modest global deal growth of 7 per cent. “The Middle East’s exceptional M&A growth underscores the region’s transformation into a global investment powerhouse,” Grégory Garnier, Middle East Head of Bain’s Private Equity and Sovereign Wealth Fund practices, told Arabian Business. The surge was particularly pronounced in key sectors throughout 2024, with energy and natural resources seeing a 140 per cent increase, technology investments rising 90 per cent, and advanced manufacturing services recording a remarkable 300 per cent growth compared to 2023.

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