Geopolitics

• “Saudi Arabia Shuts Down Pipeline That Was a Crucial Hormuz Bypass.” WSJ, September 11, 2026.

“The crucial East-West pipeline can carry up to 7 million barrels of crude a day 750 miles from Saudi Arabia’s oil-producing heartland on the Persian Gulf to the port of Yanbu on the Red Sea. From there, the Saudis had been able to ship millions of barrels of oil to customers around the world.”

Go Deeper: “Saudis shut down oil pipeline as Houthis tighten grip on Red Sea shipping.” Reuters, September 11, 2026.

• “Saudi crown prince sought US military help from Trump with Houthis, sources say.” Reuters, September 11, 2026.

“Trump held at least two phone conversations with the Saudi leader on Thursday and did not agree to the U.S. striking Houthis, the sources said. Washington told Riyadh that it would help with intelligence sharing and targeting, they added.”

Go Deeper: “Scoop: MBS urged Trump to strike Houthis amid Red Sea threat.” AXIOS, September 11, 2026.

• “Iraq Under Pressure After Drone Strikes Close Key Saudi Pipeline.” Bloomberg, September 12, 2026

“Iraq has been under pressure to try and rein in local Iran-backed militias from helping other proxy groups across the region, but has had little success and its territory has become a key base for Tehran’s retaliation across the Gulf.”

Go Deeper: “Iraq orders closure of Shalamcheh border crossing with Iran, two sources say.” Reuters, September 11, 2026.

• “Xi urges BRICS peace role in Middle East, courts Modi on India visit.” Reuters, September 12, 2026.

“Chinese President Xi Jinping urged the BRICS bloc to be a peacemaker in the Middle East conflict, in ​an address to a summit of member countries in New Delhi on ‌Saturday..”

“China will work with other BRICS members in that role, as the war ‘does not serve the common interests of the international community’, state-run CCTV quoted Xi as saying.”

• “Iran says will discuss Strait of Hormuz with Gulf states on Monday.” Al Jazeera, September 11, 2026.

“Iran is expected to meet with Gulf states in Oman on Monday to discuss the Strait of Hormuz, the country’s Foreign Ministry announced..”

“In a statement on Friday, the ministry said the meeting is intended to ‘promote better understanding among the countries of the region and help strengthen shared regional security’.”

Go Deeper: “No signed Hormuz deal expected yet from Oman meeting on Monday, Iranian official says.” Reuters, September 12, 2026.

• “As Saudi tensions with Iran-backed Houthis escalate, mediator Pakistan faces pressure to choose a side.” Reuters, September 11, 2026.

“Pakistani officials worry the Houthi threat is more likely to draw Islamabad into a war than Iranian missile strikes on Saudi energy infrastructure were earlier this year. Pakistani soldiers are deployed near the Saudi border with Yemen, two Pakistani officials told Reuters in July, increasing their direct exposure.”

Go Deeper: “Houthi advance along Yemeni coast threatens Saudi oil exports.” Reuters, September 10, 2026.

• “Algeria to sever diplomatic ties with UAE.” BBC, September 11, 2026.

“Algeria is severing diplomatic ties with the United Arab Emirates after ‘provocative or hostile’ acts by the Gulf state, its foreign ministry said.”

• “Saudi Arabia could give UN nuclear watchdog greater inspection powers.” SEMAFOR, September 9, 2026.

“Saudi officials are negotiating a bilateral deal with the International Atomic Energy Agency that would include additional obligations for monitoring and verification. The Saudi-US deal would favor American firms over Chinese and Russian competitors, but is less restrictive in other areas. Saudi Arabia has not signed up to the “Additional Protocol” that grants IAEA inspectors sweeping access. Iran had implemented that protocol under its 2015 nuclear deal.”

Market & Economy

• “Iran war blows hole in Qatar budget.” SEMAFOR, September 9, 2026.

“Qatar posted its widest quarterly budget deficit since 2016 as the Iran war choked off most of its liquefied natural gas exports through the Strait of Hormuz. The 21.2 billion-riyal ($5.8 billion) second-quarter shortfall was almost double the previous quarter’s, and there are few signs that passage through the strait is easing. Still, several Qatari LNG tankers are heading toward the Gulf, which suggests there are expectations that shipments could resume soon, Bloomberg reported.”

Go Deeper: “Qatar State Budget 2026” Ministry of Finance, 2026.

• “UAE revises AI data center plan after Iranian attacks, sources say.” Reuters, September 11, 2026.

“The United Arab Emirates is quietly revising plans for a 5-gigawatt AI data center project – one of the biggest outside the U.S. – after the Iran ​war prompted a rethink of how and where critical infrastructure should be built, six people familiar with the matter told Reuters.”

Go Deeper: “Data Is Now the Front Line of Warfare.” CSIS, March 19, 2026.

• “Kuwait Oil Exports Recover as Tankers Find Ways Through Hormuz.” Bloomberg, September 8, 2026.

“Kuwait’s crude shipments have recovered to almost two-thirds of the 1.6 million barrels a day it exported on average last year as more tankers find ways to navigate Hormuz. Exports had slumped to multiyear lows after the Iran war began in late February.”

• “QatarEnergy seeks US LNG deals through to 2031, sources say.” Reuters, September 11, 2026.

“The contract talks are part of the company’s efforts to replace lost volumes from its Ras Laffan facility after two of its 14 LNG trains and a gas-to-liquids (GTL) facility were damaged by Iranian strikes ​in March, the sources said. The discussions also mark a shift from QatarEnergy’s purchases of dozens of U.S. spot ​LNG cargoes to help meet commitments to some of its Asian clients, suggesting it is now ⁠seeking longer-term solutions to cover the shortfall.”

• “Kuwait endorses improved public tenders law.” Zawya, September 10, 2026.

“They also include raising the financial limit for contracts under the jurisdiction of the Central Agency for Public Tenders (CAPT) to KWD 1 million ($3.3 million), with the possibility of increasing or decreasing this limit by the cabinet.”

Go Deeper: “Decree Law No. 67 of 2026: The Corporatization of Kuwait’s Oil Sector.” Mondaq, September 10, 2026.

• “UAE Pledges $46 Billion to Germany to Diversify From US.” Bloomberg, September 10, 2026.

“The UAE’s latest plans come on top of the €34 billion it has already invested in Germany. Elsewhere in Europe, the Gulf nation has pledged a similar amount to Italy and as much as €50 billion to France. The country, among Trump’s staunchest allies, has also committed $1.4 trillion to the US.”

• “Qatar’s Estithmar Holding unit bags $228mln deal for Saudi stadium hosting FIFA World Cup 2034” Zawya, September 11, 2026.

“Elegancia Arabia Trading, the contracting services unit of the Doha-listed Estithmar Holding, has secured an 829 million Qatari riyal ($228 million) contract for Saudi Arabia’s Prince Mohammed Bin Salman Stadium, one of the sites that will host the FIFA World Cup 2034 matches.”

• “Dubai Aerospace Enterprise secures $2.1bln syndicated loan.” Zawya, September 11, 2026.

“In March, the aircraft lessor secured a $2.8 billion revolving credit facility for fleet expansion, replacing a previous $1.4 billion arrangement and increasing its revolver capacity to $4 billion.”

• “Saudis Weigh Merging EA With Savvy to Create Global Gaming Giant.” Bloomberg, September 10, 2026.

“Such a combination would represent a major shift in the structure of the Saudi sovereign wealth fund’s gaming strategy, potentially giving it a single vehicle through which to make acquisitions, develop games and exploit intellectual property across different parts of the $214 billion industry.”

• “Musk’s Boring Company raises $3bln in UAE-led round, valuing startup at $23bln.” Zawya, September 10, 2026.

“The Boring Company (TBC), founded by Elon Musk, has secured $3 billion in its Series D funding round, led by the United Arab Emirates and affiliated investment entities, valuing the tunnelling and infrastructure startup at $23 billion.”

• “Kuwait housing projects to deliver 4,750 homes under developer partnership model” Zawya, September 10, 2026.

“Last month, the authority had prequalified 22 consortiums comprising 41 Kuwaiti and international companies for the projects in East Saad Al-Abdullah City (ESA-1); Al-Mutlaa (M-3), and West Saad Al Abdullah City and Jaber Al Ahmad (WSA-1 and J-1)”

• “UAE-Based Consortium Leads $1 Billion Satellite Project.” Bloomberg, September 9, 2026.

“A consortium of companies, led by the UAE’s Marlan Space and US-French space startup Loft Orbital, plans to invest $1 billion as they add 40 satellites to an AI-infused constellation.”

• “Saudi PIF launches firm to develop tourism, residential area on Gulf coast.” Reuters, September 7, 2026.

“The project, spanning around 20 square kilometres (7.7 sq. miles) with a ​10-km waterfront, is expected to accommodate more than ​16,000 housing units alongside hotels and other commercial facilities.”

• “Anthropic flags UAE-linked misuse of AI targeting the Muslim Brotherhood.” Semafor, September 11, 2026.

“Anthropic said in a report that a UAE-linked influence operation used Claude AI to target the Muslim Brotherhood. The operation used around 300 fake social-media accounts, created a front NGO, ghost-wrote testimony to be used at the UN, and compiled files on European lawmakers, journalists, and UN officials. The company traced the campaign “with high confidence to UAE government officials.” The UAE Foreign Ministry didn’t respond to a request for comment.”

Go Deeper: “Detecting and countering misuse of AI: September 2026.” Anthropic, September 10, 2026. [PDF].

• “Saudi Red Sea destination begins operations with giant off-grid renewable energy system.” Arab News, September 6, 2026.

“The system was designed to meet the destination’s initial energy needs and can be expanded as future phases come online. It is capable of generating up to 760,000 megawatt-hours of clean electricity annually, helping avoid an estimated 600,000 tonnes of carbon dioxide emissions each year.”

• “Saudi soccer cuts spending.” SEMAFOR, September 8, 2026.

“Average fees have fallen by a third since 2023, while player sales hit a record $105 million. Saudi Arabia still ranked seventh globally for spending..”

Go Deeper: “Saudi soccer enters an era of prudent spending.” SEMAFOR, July 30, 2026.

• Book: Teitelbaum, Joshua, “King Abdullah and the Saudi Arabian National Guard Tribes and Networks in Modern Saudi Arabia.” Stanford Press, October, 2026.

• Research: “Visions of Gulf Security in an Era of Uncertainty: Between External Alignment and Regional Autonomy.” Rory Miller and Şaban Kardaş, Middle East Policy, September 4, 2026.

• Analysis: “The Iran War and the Gulf’s Clean Energy Ambitions.” Christopher Gooding, AGSI, August 31, 2026.

• Analysis: “Trump’s ‘American Opec’ is a challenge to the Gulf.” Frank Kane, AGBI, September 1, 2026.

• Analysis: “Gulf’s biggest port Jebel Ali waits for the war to end.” Manal Albarakati, Semafor, September 2, 2026.

• Analysis: “The Mecca Joint Defense Agreement: The Makings of a New Security Architecture.” Middle East Council on Global Affairs, September 2, 2026.

• Analysis: “Gulf States Divide the Work of Rebuilding Syria.” Dania Arayssi, AGSI, September 1, 2026.

• Analysis: “The Gulf Economic Infrastructure Buildout.” Robert Mogielnicki, AGSI, September 3, 2026.

• Analysis: “When It Comes to US Security Arrangements, Gulf States Suffer an Agency Deficit.” Khalid Al-Jufairi, Middle East Council on Global Affairs, September 3, 2026.

• Webinar: “Operation Economic Outcast: Will Economic Pressure on Iran Work, and Are the Gulf Countries On Board?“ Speakers: Tareq Alotaiba, Sara Bazoobandi, Ryan Bohl and Kristin Smith Diwan, AGSI, September 2, 2026.

Geopolitics

• “Qatar rejects Iran’s justification for attacks, says civilian impact is ‘well-documented’.” Khaleej Times, September 5, 2025.

“Al Ansari said the document cited by Iran was a safety and security risk assessment prepared for the ITU Plenipotentiary Conference. He stressed that it was neither a comprehensive factual record nor a legal assessment of the events.”

• “U.S. approves potential sale of Joint Direct Attack Munitions-Extend Range to Saudi Arabia for $5 billion.” Reuters, September 4, 2026.

“The ​State Department ​also said it had approved ‌a ⁠possible sale of AGT-1500 engines to Saudi Arabia ​for an ​estimated $750 ⁠million. The principal contractor ​for sale of ​the ⁠engines is Honeywell, the department ⁠said.”

• “Saudi Nuclear Agreement Could Open a Path to 20% Enrichment.” WSJ, September 2, 2026.

“The text of the accord was shared with lawmakers last week along with a raft of related documents. It outlines a road map for how uranium might be enriched in the kingdom’s territory after further consultations, including at a level of nearly 20%.”

• “Saudi Grain Giant Shifts Away From Black Sea as War Roils Supply.” Bloomberg, September 4, 2026.

“The Russia-Ukraine conflict has intensified this summer, damaging grain terminals and sharply reducing exports from both countries. The disruption has pushed up a raft of commodity prices, with barley delivered to Saudi Arabia now as much as 25% more expensive than two months ago, according to Aldharrab.”

Market & Economy

• “Saudis Explore About $8 Billion in Loans as War Strains Finances.” Bloomberg, August 31, 2026.

“Saudi Arabia has emerged as one of the most active emerging-market borrowers, raising about $6 billion in domestic and international bonds this year, while Aramco has raised another $4 billion. Its sovereign wealth fund raised $7 billion in May, one of the first public-market deals since the Iran war began.”

• “Kuwait issues decree allowing government to borrow from wealth fund.” Zawya, September 3, 2026.

“Kuwait’s government issued a decree on Tuesday allowing it to borrow from its more than $1 trillion sovereign wealth fund, ending a decades-old ban and helping support the state treasury as lower oil revenues and disruptions to shipping on the Strait of Hormuz weigh on public finances.”

• “Major UAE Oil Refinery Returns to Full Capacity After War Hit.” Bloomberg, August 31, 2026.

“Adnoc has been raising exports of oil products such as diesel and jet fuel from the Ruwais refinery, the people said, asking not to be identified because the information is private. The company was able to run the facility, which has the capacity to process 922,000 barrels a day of crude, at its full potential about a month ago, one person said.”

• “Chinese tech firms deepen ties in Saudi Arabia.” Semafor, Sep 4, 2026.

“AWS, for one, is building $5.3 billion worth of data centers in the kingdom. And as part of a deal to secure export licenses for advanced chips from the US government, HUMAIN will not allow Chinese frontier AI models to be trained on its compute capacity. Instead, its CEO said the firm will offer access to Chinese open-source models on its Saudi data centers.”

Go Deeper: “Saudi AI firm HUMAIN to launch giant global VC fund this year.” Semafor, September 3, 2026.

• “UAE bank credit growth surges ahead of Gulf peers.” AGBI, September 4, 2026.

“Gross credit reached AED2.76 trillion ($752 billion) at the end of June, up 18 percent from a year earlier and 7 percent since December, the latest central bank data shows.”

• “Dubai launches AI property platform, cuts registration time by up to 80%.” Zawya, September 3, 2026.

“Dubai Land Department (DLD) has launched the ‘Initial Registration’ platform to streamline the developer journey and integrate project registration, real estate transaction registration and escrow account management. By deploying artificial intelligence, automating processes and delivering more efficient and transparent digital services, the platform supports the sector’s readiness for growth and reinforces Dubai’s position as a global destination for real estate investment.”

• “Kuwait boosts oil sector spending.” Zawya, September 1, 2026.

“KPC said in its annual report that capital spending swelled to nearly 2.3 billion Kuwaiti dinars ($7.5 billion) from around KWD 1.9 billion ($6.19 billion) in the 2024/2025 fiscal year, an increase of KWD 400 million year-on-year.”

• “Oil windfall cuts Oman budget gap but subsidy worries remain.” AGBI, September 4, 2026.

“The sultanate recorded a fiscal deficit of just OMR17 million ($44 million) in the first half of 2026, down from OMR259 million in the same period last year, according to the Ministry of Finance.”

“Total public revenues rose 13 percent to OMR6.6 billion, as oil revenues rose 10 percent year on year and gas revenues increased 32 percent over the period.”

• “OPEC+ Sticks With Plan to Keep Oil Output Quotas Unchanged.” Bloomberg, September 6, 2026.

“Despite the reduced flows, the Organization of the Petroleum Exporting Countries and its allies continued to raise quotas during the war to nominally complete the reversal of output curbs made in 2023, and potentially give some members extra leeway to bolster output once the fighting subsides.”

Local Updates

• “Kuwait documents Iranian attacks in Grade 10 textbook, stresses national unity.” Khaleej Times, September 4, 2026.

“The textbook details attacks it attributes to Iran and Iranian-backed groups, carried out using missiles and drones against vital and government facilities as well as residential areas.”

• “Qatar still planning to host MotoGP and F1 races despite regional conflict.” Khaleej Times, September 1, 2026.

“‘Qatar has been safe for months now. Our airport is 100 per cent operational, including transit flights between Asia and Europe. If you visit Qatar, you will see we are back to normal life, so we’re really looking forward to hosting races again soon,’ Al Mannai said in a QA issued by the QMMF.”

Saudi Crown Prince Mohammed bin Salman visited France on August 23–24, 2026, meeting President Emmanuel Macron in a trip that marked another step in the expanding relationship between Riyadh and Paris. The visit coincided with the centenary of formal Saudi-French political relations and included the first meeting of the French-Saudi Strategic Partnership Council. The two governments presented a broad agenda spanning defense, investment, energy, artificial intelligence, culture, and entertainment, while also discussing regional security and the future of the Middle East.

Yet commentary on the visit suggests that its significance lies less in any single agreement than in the different transformations it appears to represent. For some, France offers Riyadh another pillar in an increasingly diversified foreign policy. For others, the relationship is becoming a mechanism for building the industries envisioned under Vision 2030. Still others focused on culture, gaming, and Saudi Arabia’s growing effort to project itself internationally through new forms of soft power. Taken together, these readings present the visit not simply as another episode in Saudi-French diplomacy, but as a reflection of how Saudi Arabia increasingly defines its place abroad.

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In this issue, we share our conversation with Dr. Justin Dargin. Dr. Justin Dargin is an internationally recognized expert in energy markets, climate governance, industrial policy, and economic development in emerging economies. He has advised or worked with organizations including OPEC, the World Bank, Shell, and the United Nations, and currently serves as Chairman of Tangelic, where he focuses on energy infrastructure, carbon markets, and sustainable investment across Africa and the Global South.

A former Fulbright Scholar and researcher at Harvard and Oxford, Dr. Dargin has published five books and more than 100 works on energy, climate policy, and political economy. He holds a D.Phil. from Oxford and an LL.M. from Georgetown, and speaks Arabic and Spanish. As a Senior Fellow at Harvard Kennedy School, his research examines how climate investment and infrastructure can strengthen public institutions, state capacity, and long-term economic resilience in emerging economies.

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Geopolitics

• “Trump Sends Nuclear Agreement With Saudi Arabia to Congress.” WSJ, August 25, 2026.

“Trump’s political requirement that Saudi Arabia normalize relations with Israel by joining the Abraham Accords has introduced a fresh obstacle for implementing the nuclear agreement. Trump announced that condition last month after the deal was negotiated and signed and is sticking by it.”

Go Deeper: “To Enrich or Not to Enrich? The Saudi-U.S. Nuclear Deal.” Australian Institute of International Affairs, Aug 27, 2026.

• “Qatar steps in to mediate as Trump says US not talking to Iran.” Reuters, August 26, 2026.

“Major combat operations have been paused for weeks but there has been little progress toward a wider peace agreement or reopening the Strait of Hormuz, a vital shipping route. Six months after U.S. and Israeli forces attacked Iran, killing its ​supreme leader and maiming his son and successor, the Iranian government is under economic siege, but it still holds power and has shown little urgency to negotiate.”

Go Deeper: Nayef Al-Naama “Qatar between Israel and Iran -and Beyond: Mediation, Diplomacy and the Double Standards of Applying International Law in the Attempt of War.” SSRN, July 29, 2026.

• “US Moves Against Egyptian Bank’s UAE Branches Over Iran Ties.” Bloomberg, August 28, 2026.

“The Treasury Department is moving to sever an Egyptian bank’s United Arab Emirates branches from the US financial system as part of efforts to pressure Iran into ending the war in the Middle East.”

Go Deeper: “Treasury moves to sanction UAE branch of Egyptian bank over Iran ties.” August 28, 2026.

• “Kuwaiti tanker hit in latest Hormuz shipping attack - UK maritime monitor.” Arab News, August 27, 2026.

“Al-Salam II was heading east through the waterway on Tuesday evening when it was hit by a projectile above the waterline, the United Kingdom Maritime Trade Operations reported.”

Go Deeper: “The Gulf’s critical infrastructure presents a lasting vulnerability for Iran to exploit.” ACLED, August 4, 2026.

• “France, Saudi Arabia agree on €6 billion Dragon Ball Z theme park project near Paris.” Reuters, August 24, 2026.

“The project, inspired by the world of the hit Japanese manga ​and anime franchise Dragon Ball Z, will be built ​near Cergy-Pontoise, northwest of Paris, and is expected ⁠to create around 22,000 jobs, the Elysee said.”

• “Abu Dhabi provides $300m to support Jordan’s budget.” AGBI, August 28, 2026.

“The state-backed Abu Dhabi Fund for Development (ADFD) has signed an agreement with Jordan’s planning ministry to provide AED1.1 billion ($300 million) in support for the general budget, the fund said in a statement.”

• “UAE company begins wheat supplies to Egypt in $500m deal.” AGBI, August 26, 2026.

“The pact between Abu Dhabi’s Al Dahra Holding and Egypt’s General Authority for Supply Commodities is valued at up to $500 million and will be supported by the Abu Dhabi Exports Office, the export-financing arm of the Abu Dhabi Fund for Development, the Emirati company said in a statement.”

Market & Economy

• “Saudi Arabia’s trade surplus surges 53% to SR155 billion in 1H 2026.” Saudi Gazette, August 26, 2026.

“The Saudi trade surplus surged by 53.17 percent year-on-year during the first half of 2026, with the value of foreign trade exceeding SR1 trillion. The increase coincided with a 7.3 percent rise in exports and a 2.7 percent decline in imports compared to the same period last year.”

• “UAE real estate sector records strong H1 2026 growth.” Zawya, August 27, 2026.

In Abu Dhabi, the total value of real estate transactions reached around AED117 billion during the first half, up 112 percent compared with the same period in 2025, while the number of transactions increased by 61.7 percent.

Sales transactions led activity, reaching AED86.1 billion through 16,838 transactions, up 163.7 percent, while mortgage transactions amounted to AED26.7 billion.

• “Bahrain’s non-oil economy grows 2.2% in Q1 despite regional headwinds.” Arab News, August 27, 2026.

“According to a quarterly report by the Ministry of Finance and National Economy, real GDP fell 3.8 percent year on year, driven largely by a 37.2 percent contraction in oil activities, linked to restrictions on maritime traffic through the Strait of Hormuz and scheduled maintenance, the Bahrain News Agency reported.”

Go Deeper: “Bahrain Economic Quarterly Report.” Ministry of Finance and National Economy, August, 2026. [PDF].

• “Saudi intensifies $13.3 billion buildout of indoor entertainment centers.” Semafor, August 20, 2026,

“Even as some economic diversification projects are put on the back burner, Saudi Arabia is intensifying its $13.3 billion push to build indoor entertainment centers across the country.”

• “LNG WRAP: Asian LNG Above $23 as Qatar Extends Force Majeure.” Bloomberg, August 28, 2026.

“Spot prices rose to $23.388 per million British thermal units, according to traders. State-owned QatarEnergy this week notified Pakistani buyers that LNG cargo cancellations will continue into October, traders familiar with the matter said. The company didn’t immediately respond to a request for comment.”

• “Kuwait’s Al-Zour oil refinery partially restarted, IIR says.” Zawya, August 28, 2026.

“State-owned Kuwait Integrated Petroleum Industries Company had restarted all three crude units at its 615,000 barrel-per-day Al-Zour oil refinery at 60% capacity as of August 19, consultancy IIR said.”

“KIPIC shut down parts of the refinery on July 18 due to a power cut, having reduced processing ​rates earlier in the year during a round of attacks by Iran.”

• “Saudis Sell Oil from Gulf of Oman in Sign of More Hormuz Exits.” Bloomberg, August 28, 2026.

“Saudi Arabia has sold its heavier crude grades to Chinese refiners for a second time this month, a sign that flows through the Strait of Hormuz are likely to remain elevated.”

Go Deeper: “China Buys Saudi Crude in Rare Tender as Imports Stay Muted.” Bloomberg, August 20, 2026.

• “Kuwait and Qatar Add to Growing Oil Flows Getting Through Hormuz.” Bloomberg, August 27, 2026.

“The two countries, which exported a combined 2 million barrels a day of oil before the outbreak of the Iran war, have managed to get shipments back to 70% of pre-conflict levels, according to traders, who asked not to be named as they’re not allowed to speak to media.”

• “Axel Springer enters crowded Gulf media market.” Semafor, August 27, 2026.

“Axel Springer is the latest media company to plant a flag in the Gulf, with a new entity headquartered in Abu Dhabi that is on the hunt for “opportunities.” The move comes shortly after the publisher of Politico and Business Insider completed a deal to acquire The Telegraph newspaper from Abu Dhabi-backed RedBird IMI; an investment in The Circuit, a regional digital publication, is also part of the expansion.”

• “Saudi Brothers Mint Billion-Dollar Fortune From AI Boom.” Bloomberg, August 26, 2026.

“Two Saudi brothers have amassed a fortune of about $1.4 billion as the technology company they control rides the kingdom’s multibillion-dollar push to build artificial intelligence infrastructure.”

• “RSGT, CMA CGM to invest $434mln in Jeddah port container terminal.” Zawya, August 25, 2026.

“Saudi Arabia’s Red Sea Gateway Terminal (RSGT) and France’s CMA CGM Group have signed definitive agreements to jointly develop and operate Terminal 4 at Jeddah Islamic Port, with an investment of approximately $434 million (SAR1.6 billion), RSGT said in a statement.”

• “Saudi Capital Markets Shakeup Raises Liberalization Optimism.” Bloomberg, August 24, 2026.

“Morgan Stanley estimates that a partial relaxation of the limit to 75% could attract about $4.3 billion of passive inflows into Saudi equities, while a full removal could generate about $7.4 billion. Still, Nguyen said the window for implementing changes this year is narrowing, as any moves would need to take effect by late October to be reflected in MSCI’s November review of its global equity indexes.”

Climate, Renewable and Green Energy

• “Saudi’s Alfanar Group backs Indian wind turbine maker’s global expansion.” Zawya, August 26, 2026.

“Saudi Arabia-based Alfanar Group will inject $100 million in capital into Senvion, an Indian wind turbine manufacturer, to drive global and local expansion.”

“The first tranche of $34 million was received this month, while the remaining amount will be invested in a couple of weeks, Senvion said in a statement.”

• “Kuwait’s Action Energy to acquire Warah Environmental Consultants.” Zawya, August 26, 2026.

“Kuwait-listed Action Energy Company is set to acquire consultancy firm Warah Environmental Consultants.”

“Warah offers environmental and technical consultations, including environmental and social impact assessments, technical advisory and professional and specialised training services.”

Other

• “Kuwait continues to tighten citizenship rules.” Semafor, August 25, 2026.

“.. in May 2024 before embarking on a regulatory overhaul that has stripped at least 50,000 people of citizenship. Authorities say some of them held dual nationality, which is illegal for Kuwaitis, while others had obtained citizenship through fraud; rights groups say the government’s political opponents have also been targeted.”

• “Saudi Arabia real estate gigaproject developer replaces chief executive.” Zawya, August 28, 2026.

“New Murabba, owned by the country’s wealth fund PIF, has appointed Sabah Barakat as acting chief executive, according to the company’s website and was mentioned in that role in a company statement this week about an investment partnership. He replaces British manager Michael Dyke, chief executive since 2024.”

• “Saudi Arabia backs Infantino amid fallout from failed FIFA investment plan.” Arab News, August 27, 2026.

“In a statement, the Saudi Arabian Football Federation (SAFF) welcomed FIFA’s acknowledgement of mistakes, its apology and the decision to scrap the proposal, while calling for direct dialogue among football’s stakeholders to restore unity.”

• “Abu Dhabi to host first Euroleague Basketball SuperCup.” Arab News, August 25, 2026.

“The SuperCup is an exciting addition to Euroleague Basketball’s competition portfolio, creating an annual event featuring elite European club basketball while further expanding the league’s global footprint. Hosting the first competition in Abu Dhabi highlights the emirate’s growing involvement in international basketball.”

• “Formula One confirms Abu Dhabi Grand Prix to take place in December.” Arab News, August 23, 2026.

“President and CEO of Formula One Stefano Domenicali has confirmed the 2026 season will conclude as planned with the Formula 1 Etihad Airways Abu Dhabi Grand Prix at Yas Marina Circuit.”

“Domenicali expects remaining tickets to be sold and said that preparations for the Dec. 3-6 event were nearing completion.”

Go Deeper: “From Shakira to F1: How Iran war is disrupting Gulf economy.” First Post, August 21, 2026.

• “2026 Saudi Toyota Championship Time Attack gets underway at Jeddah Corniche Circuit.” Arab News, August 27, 2026.

“The championship is being held under the supervision of the Saudi Automobile and Motorcycle Federation, the owner of the competition, managed by Bakhashab Motorsport, and in partnership with Jameel Motorsport, the official partner.”

Go Deeper: “‘It’s come at the wrong time’: how Iran war has floored the Gulf as a sports hub.” The Guardian, March 21, 2026.

• Book: Dargin, Justin, “The Gulf’s Climate Reckoning: Decarbonization, Development, and the Future of the Petro-States.” Cambridge University Press, October 2025.

Research

• Research: “Qatar and Iran: Market Access Under Geopolitical Conflict.” Ahmet Hakan Özkan, Middle East Policy, August 20, 2026.

• Research: “‘We Would Gather These Grieved’: Recentring South Asian Migrants and Their Political Mobilization in British Arabia.” Hessa Alnuaimi, Middle East Critique, August 17, 2026.

• Research: “Tourism Development and Women’s Empowerment in Saudi Arabia Under Vision 2030: Evidence-Based Insights from ARDL Testing.” Talal F. Abuhulaibah, Muhammad Tahir and Umar Burki, Economies, August 18, 2026.

Analysis

• Analysis: “Quantifying Almahr: the entry price into the ‘Marriage Market’.” Meshal Alkhowaiter, Saudi Labor Pulse, Aug 27, 2026.

• Analysis: “Is It Time for Saudi Arabia To Find New Yemeni Allies?” Newlines, July 27, 2026.

• Analysis: “Gulf oil and gas industries embrace the unconventional.” Robin Mills, AGBI, August 17, 2026.

• Analysis: “Diplomacy Cannot Work with Mediators Under Fire.” Abdulla Banndar Al-Etaibi, Middle East Council on Global Affairs, August 18, 2026.

• Analysis: “Diversification Without Substitution: What the Mecca Joint Defense Agreement Offers Saudi Arabia.” Unit for Political Studies, Arab Center Washington DC, August 19, 2026.

• Analysis: “How a Journey to Kuwait During the Iran War Revealed a Divided Gulf.” Newlines, August 19, 2026.

• Analysis: “The Gulf’s solar revolution is running late.” Christopher Gooding, AGBI, August 21, 2026.

• Analysis: “Oman’s Quiet Return to the Region’s Center.” Clemens Chay, AGSI, August 21, 2026.

• Analysis: “Why Has the Price of Oil Remained Below War-Time Expectations?“ Frédéric Schneider, Middle East Council on Global Affairs, August 23, 2026.

• Analysis: “Saudi Arabia’s Nuclear Turn: Power Beyond Electricity.” Jim Krane, Arab Center Washington DC, August 27, 2026.

• Analysis: “Six months on: war means the Gulf must work harder for prosperity.” Andrew Cunningham, AGBI, August 27, 2026.

Podcasts & Webinars

• Podcast: “Saudi Arabia’s Regional Challenges and the Future of the Gulf.” Jasser Al-Jasser, Al-Kalam Khaleeji, August 22, 2026. [Eng Subtitle].

• Podcast: “What Happens Behind the Doors of the Dubai International Financial Centre Courts.” Ali Al Madhani, Arab Cast, August 18, 2026.

• Webinar: “The Challenge of Gulf-China Ties: Reassessing Beijing’s Role After the Iran War.” Speakers: Robert Mogielnicki, Mohammed Al-Sudairi, Aaron Glasserman and Chuchu Zhang, AGSI, August 25, 2026.

A week after the Makkah Joint Defense Agreement between Saudi Arabia, Turkey, and Pakistan triggered debate over whether new security arrangements outside the Gulf Cooperation Council might strengthen or weaken Gulf cohesion, Gulf commentary has moved toward a broader question: what does the agreement say about the changing model of regional security? For some, the pact exposes limitations in existing Gulf and Arab collective-security institutions. For others, it represents a transition from dependence on external protection toward regional deterrence and strategic autonomy. A third discussion concerns whether the pact could eventually expand and connect more directly with the GCC.

Emirati academic Abdulkhaleq Abdulla offers one of the more explicitly political interpretations, describing the agreement as an “Islamic alliance.” He points particularly to its collective-defense provision, under which an attack against one member is considered an attack against all three. Abdulla has also noted what he considers the disproportionately enthusiastic response of the Muslim Brotherhood, including statements by its leaders and commentary across its media platforms. His intervention raises the question of whether an agreement among three major Muslim states could acquire an Islamic political identity beyond its immediate defense provisions.

Emirati writer Mohammed Alhammadi approaches the agreement primarily through the shortcomings of existing Gulf and Arab collective security. His central question is why Gulf states, despite possessing advanced militaries and substantial defense resources, continue to seek additional security arrangements outside their immediate regional institutions. In his view, the recent U.S.-Israeli war with Iran demonstrated that possessing sophisticated weapons is not the same as possessing collective deterrence. Regional governments condemned attacks against states in the region, he argues, but did not translate that position into a unified security response.

Alhammadi does not oppose partnerships with outside powers, which can provide technology, intelligence, training, and military capabilities. But he distinguishes between partnerships that reinforce an existing regional system and those that compensate for its weaknesses. External partnerships are useful when they “add to an existing system, not when they compensate for its absence.” When a Gulf state seeks additional defense guarantees, he argues, the question is not only what it found among new partners, but “what it lacked in the Gulf home.” The danger is that reliance on external arrangements could expose continuing weaknesses in Gulf and Arab collective-security institutions.

Qatari academic Khalid Al-Jaber sees the Makkah Agreement as part of a possible transition from “imported security,” based heavily on external guarantees, toward greater regional responsibility for deterrence. He argues that changing U.S. priorities have exposed the limits of relying on Washington as the region’s principal security guarantor, while the Arab world has struggled to transform its own resources into collective power. The pact could therefore shift the relationship with outside powers from “strategic dependence” toward “strategic partnership.”

For Al-Jaber, however, its significance depends on implementation. If the agreement develops credible mechanisms for collective defense and protection of critical infrastructure, it could become the “nucleus of an Arab security system”; otherwise, it risks becoming another symbolic regional agreement.

Saudi diplomat and GCC Assistant Secretary-General for Political Affairs and Negotiation Abdel Aziz Aluwaisheg offers a complementary interpretation. He describes the agreement as evidence of movement toward “regional strategic autonomy,” while emphasizing that it should augment rather than replace existing arrangements. The pact combines diplomacy, defense, and deterrence, with its collective-defense provision intended primarily to discourage aggression.

Aluwaisheg explicitly rejects interpreting the agreement as a replacement for either the U.S.-led security order or the GCC’s military framework. Instead, it can operate alongside them through exercises, intelligence sharing, logistical cooperation, training, defense industries, and maritime security. The alliance is also expected to establish a secretariat in Saudi Arabia. In this reading, the pact represents defense burden-sharing and diversification rather than a choice between regional autonomy and existing international partnerships.

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Geopolitics

• “MBS meets top US general for Middle East to discuss defense cooperation, reducing tensions.” Al Arabiya, August 14, 2026.

“United States Central Command (CENTCOM) chief Adm. Brad Cooper and MBS discussed defense cooperation and efforts to reduce regional tensions, according to the SPA.”

• “UAE accuses Iran of attacks on two ADNOC vessels in Strait of Hormuz.” Al Jazeera, August 14, 2026.

“The Abu Dhabi National Oil Company (ADNOC) confirmed that ‘two of its vessels were attacked while transiting’ the waterway on Thursday evening, adding that the situation was “brought under control”, Emirati media reported.”

• “Prince Khalid meets Iraq’s top general to discuss Saudi-Iraqi defense ties.” Al Arabiya, August 13, 2026.

“Saudi Arabia’s intelligence chief, Khalid al-Hmeidan, visited Baghdad last week to discuss regional security developments with Iraq’s prime minister and conveyed a renewed invitation for him to visit Riyadh after an earlier trip was scrapped over attacks on the Kingdom emanating from Iraq.”

Go Deeper: “Iraq seeks Saudi, Syrian ties as it faces pressure to rein in Iran-backed militias - analysis.” The Jerusalem Post, August 14, 2026.

• “UAE Reportedly Released Iran’s Frozen Assets Worth Billions of Dollars, Bitcoin Rebounds.” Yahoo, August 13, 2026.

“Oil prices fell on Thursday after reports that the United Arab Emirates (UAE) released Iran’s frozen assets held in Emirati banks, including gold valued at roughly $200-283 million. As a result, Bitcoin and the broader crypto market witnessed a much-needed rebound.”

Go Deeper: “UAE to unlock billions of dollars for Iran, sources say.” Reuters, June 12, 2026.

• “Tanker Seen Loading at Key Saudi Hub for First Time in Weeks.” Bloomberg, August 12, 2026.

“A satellite image from the European Union’s Sentinel 2 orbiter, captured on Tuesday, shows a very large crude carrier, capable of loading about 2 million barrels of crude, moored at one of Ju’aymah’s single-point moorings, which form part of the giant Ras Tanura oil export complex. The last time a ship was seen there was in the middle of July, though satellite images aren’t available every day, so it’s possible vessels have called there since.”

• “UAE Shuttles Iraqi Oil Exports Through the Strait of Hormuz.” Bloomberg, August 12, 2026.

“The United Arab Emirates’ state oil company has been the most successful producer at getting its crude out of the Persian Gulf through the Hormuz. It has used so-called shuttling tactics, where vessels make short trips — often with their transponders turned off to avoid detection — before typically transferring their cargoes to other ships just outside the gulf.”

Market & Economy

• “Qatar National Bank Tests Investor Appetite for $2 Billion Loan.” Bloomberg, August 12, 2026.

“Qatar National Bank is seeking a $2 billion syndicated loan, according to people familiar with the matter, in a test of whether banks, particularly from Asia, are willing to lend in the region as the US war with Iran drags on.”

Go Deeper: “Abu Dhabi, Qatar Turn to Private Markets to Raise Billions.” Bloomberg, April 9, 2026.

• “UAE banks face margin pressure despite strong H1 earnings.” Zawya, August 13, 2026.

“The notable exception among the UAE banks was First Abu Dhabi Bank (FAB), the UAE’s largest lender by market capitalisation. Its NIM rose to 1.99% in Q2 and by 14 bps YoY, thanks to a more favourable funding mix and better liability repricing. “As a result, we see less downside to FAB’s margin compared with banks that are seeing a faster migration from CASA into term deposits,” Singh said. “

• “Saudi PIF-backed Emaar Economic City posts $5.87mln net loss in Q2 2026.” Zawya, August 12, 2026.

“Revenue for the second quarter of 2026 reached SAR 127 million, up from SAR 118 million a year ago.”

“For the first six months of the year, total shareholders’ equity surged by nearly 80% to SAR 9.08 billion. Loss per share stood at -SAR 0.23, down from -SAR 0.41 in the first half of last year.”

• “Saudi data center capacity projected to boom, but financing a challenge.” Semafor, August 11, 2026.

“Saudi Arabia’s data center capacity is forecast to reach 1 gigawatt by 2030, making it the fastest-growing Gulf market in a sector awash in cash and FOMO. The pipeline of announced projects is larger still — PIF’s HUMAIN alone is targeting more than 6 GW in the coming decade. Financing even half of that will require up to $32 billion in debt, more than the kingdom’s banks are likely to be willing to assemble themselves, according to a report from consulting firm Alvarez & Marsal.”

Go Deeper: “Financing Saudi Arabia’s Data Center Build-Out.” Alvarez & Marsal, August 6, 2026. [PDF].

• “UAE, Qatari Firms Debut in Venezuela Through BP-Led Gas Deal.” Bloomberg, August 13, 2026.

“Arab Gulf companies are making their debut in Venezuela through an offshore natural gas project to be operated by BP Plc.”

Go Deeper: “Abu Dhabi’s Adnoc Is Said to Mull Investing in Venezuela Gas.” Bloomberg, January 15, 2026.

• “UAE extends corporate tax relief for small businesses until 2029.” Khaleej Times, August 7, 2026.

“Under the decision, the threshold prescribed under Ministerial Decision No. (73) of 2023 will continue to apply to tax periods commencing on or after June 1, 2023, and shall apply to subsequent tax periods ending on or before December 31, 2029.”

Go Deeper: “Dubai enlists businesses to help secure hub status after Iran war shock.” Reuters, June 25, 2026.

• “Qatar: Significant increase in compliance as tax return filing rate reaches 90% for 2025.” Zawya, August 7, 2026.

“Continued enhancements to the Dhareeba Portal have made tax services faster, easier, and more accessible. Improvements to electronic services have also helped simplify tax return filing procedures and support taxpayers in meeting their obligations.”

Go Deeper: “What Are the Changes in Qatar’s Corporate Tax Rate for 2026?” SwissMENA, April 30, 2026.

• “Qatar LNG Loading Jumps Ahead of Potential Hormuz Reopening.” Bloomberg, August 11, 2026.

“The 10-day moving average for loadings from the giant Ras Laffan complex was about 80,000 tons, according to ship-tracking data compiled by Bloomberg. While 60% lower than this time last year, it is still the highest level since March, right after the war began and Iranian attacks on the facility forced Qatar to shut production.”

• “Riyadh Presses ahead with Housing Market Stabilization Through Real Estate Balance Measures.” Asharq Al-Awsat, August 12, 2026

“The RCRC aims to provide between 10,000 and 40,000 plots annually at prices not exceeding SAR1,500 per square meter, helping narrow the gap between supply and demand and support stability in Riyadh’s real estate market.”

Go Deeper: “Saudi Arabia Residential Real Estate Market Report 2026-2030” Yahoo, January 20, 2026.

• “Saudi inflation reaches 1.8% in July, driven by 4.2% rise in housing costs.” Saudi Gazette, August 13, 2026.

“Personal care, social protection and other goods and services prices rose 2.9 percent year-on-year, driven by an 11.1 percent increase in other personal effects, which was affected by a 12 percent rise in jewelry and watch prices.”

Go Deeper: “Inflation in Saudi Arabia reaches 1.8% in July 2026 compared to July 2025.” Maaal, August 13, 2026.

Climate, Renewable and Green Energy

• “Construction is ‘finished’ on world’s largest green hydrogen and ammonia complex in Saudi Arabia.” Hydrogeninsight, August 11, 2026.

“The 2.2GW Neom green hydrogen and ammonia project in Saudi Arabia has completed construction and is currently being commissioned for a start of operations in 2027, according to one of its developers, Acwa.”

Go Deeper: Ali Q. Al-Shetwi “Energy transition for sustainable development in Saudi Arabia: Renewable energy growth and emission reduction” Next Energy, Volume 12, 2026.

• “Oman says the oil spill from a grounded tanker has reached its coastline.” AP, August 12, 2026

“Crude oil has been leaking from the tanker Caroline Bezengi — a sanctioned tanker believed to be part of Russia’s “shadow fleet” — that was carrying nearly 1 million barrels of oil when it reported an explosion in June.”

Go Deeper: “Oman says massive oil spill reaches coastline: What damage could it do?” Al Jazeera, August 13, 2026.

• “Saudi Arabia raises ozone-depleting substance disposal rate to 69% in 2026.” FC, August 14, 2026.

“More than 8,000 metric tons of ozone-depleting substances and hydrofluorocarbons (HFCs) have been cleared since the start of the year under a national project regulating their import and circulation in line with environmental requirements and international commitments.”

• “EDF consortium achieves financial close for 120MW Oman wind project.” Zawya, August 11, 2026.

“The project supports Oman Vision 2040 and the sultanate’s objective of increasing the share of renewable energy in the national electricity mix to at least 30% by 2030, while advancing the country’s Net Zero 2050 ambitions.”

Go Deeper: Mohamed Amur Al-Shidhani, Maan Hayyan “Oman’s energy transition roadmap to net zero 2050” Energy Nexus, Volume 19, 2025.

Other

• “King orders Cabinet reshuffle under Crown Prince, retains current ministers.” Saudi Gazette, August 13, 2026.

“As per a third decree, the King appointed Mazen Al-Sudairi as chairman of the Capital Market Authority with the rank of a minister after relieving Mohammed Al-Quwaiz of his position as its chairman.”

Go Deeper: “Biography of new CMA Chairman Mazen Al-Sudairi.” Maaal, August 13, 2026.

• “Kuwait foils ISIS plot targeting ‘vital facility,’ arrests suspect.” Anadolu Agansi, August 12, 2026.

“Kuwaiti authorities said Wednesday that security forces foiled “a terrorist plot” targeting a vital facility and arrested a Kuwaiti national affiliated with the ISIS (Daesh) terror group before the plan could be carried out.”

• “Qatar, Morocco among six Arab federations backing FIFA’s Infantino.” Reuters, August 13, 2026.

“The full backing by the six national federations, many of them AFC members, shows that block voting is extremely unlikely, even if the confederations themselves have taken a clear position, ⁠with each ​national federation having one vote. The Confederation of African Football has also supported Infantino.”

Today, our conversation is with Dr. Ali Bakir. He is a Non-resident Senior Fellow at the Middle East Council on Global Affairs and Research Professor of International Affairs, Security, and Defense at Qatar University. He previously served as a Non-resident Senior Fellow at the Atlantic Council, a task force member at the Center for Strategic and International Studies (CSIS), and Senior Political Adviser at Qatar’s Embassy in Ankara. His earlier positions include Head of the Gulf Studies Program at ORSAM and Senior Researcher at ISRO’s Center for MENA Studies. With two decades of experience advising governments, think tanks, and private-sector institutions, his research focuses on Gulf security, Middle East geopolitics, Türkiye, and great-power competition. Bakir is also editor or co-editor of several forthcoming volumes on GCC security, defense-industry localization, the Iran-Israel rivalry, and contemporary Saudi Arabia.

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• Book: Janardhan, N., “Global Gulf: Geo-Economic, Geo-Political, and Geo-Technological Transformation in Saudi Arabia, the United Arab Emirates, and Qatar.” Gerlach Press, August 2026.

• Research: “Not Little Sparta: Militarisation and the politics of constraint in Kuwait.” Pete Moore and Sean Yom, European Journal of International Security, August 5, 2026.

• Research: “Transitioning Power: Exploring Candidate Selection and Leadership Succession in the Persian Gulf Monarchies” Wojciech Grabowski, Maciej Hartliński and Robert Czulda, Politeja, August 4, 2026.

• Analysis: “Fearing Iran, Saudi Arabia Looks To Draw Turkey and Nuclear-Armed Pakistan Closer.” Sultan Alamer, New Lines Magazine, August 10, 2026.

• Analysis: “The Trump Administration Throws Gulf AI a Lifeline.” Andrew Leber, Alasdair Phillips-Robins and Sam Winter-Levy, Just Security, August 7, 2026.

• Analysis: “Striking the Grid: Iran’s Campaign Against Kuwaiti Water.” Raphaël Le Magoariec, AGSI, August 4, 2026.

• Analysis: “Great Gulf pipeline race: which routes will actually be built?“ Sally Vanderpump, AGBI, August 1, 2026.

• Analysis: “Saudi Arabia still views the US as its main strategic partner – despite Trump’s nuclear agreement conditions.” Neil Quilliam, Chatham House, August 5, 2026.

• Analysis: “Why Trump’s Israel Normalization Demand May Kill the Saudi Nuclear Deal.” H. A. Hellyer, War on the Rocks, August 5, 2026.

• Analysis: “The Trump Presidency, Iran War, and U.S.-Gulf Economic Relationship.” Tim Callen, AGSI, August 3, 2026.

• Analysis: “Saudi Arabia’s Yemen Dilemma.” Unit for Political Studies, Arab Center Washington DC, August 5, 2026.

• Analysis: “Saudi economy faces trifecta of problems from Houthi blockade.” Matein Khalid, AGBI, August 4, 2026.

• Podcast: “Christian Henderson, ‘Monarchies of Extraction: The Gulf States in the Global Food System’.” Host Alec Fiorini, New Books Network, 2026.

• Podcast: “From Saddam Hussein to the Iran Era: Why Has Iraq Failed to Win Over Saudi Arabia?” Majed Ibrahim hosts Hassan Al-Mustafa, Gulf Talk Podcast, August 5, 2026.

• Podcast: “Expat Motherhood in Saudi Arabia: Pregnancy, Birth & Beyond.” with Lina and Christie, Saudi Life: Unpacked, August 4, 2026.

• Webinar: “Beyond the Strait: The Future of Global Energy Security.” Speakers: Kate Dourian, Carole Nakhle, Robin Mills and Adnan Shihab-Eldin, AGSI, August 11, 2026.

“If, God forbid, those rabid beasts launch an attack on Saudi Arabia, will we see the Turkish and Pakistani air forces bombing Yemen, Iraq, and Tehran?”

With this question, Kuwaiti former politician and diplomat Fuad Al-Hashim captured the skepticism surrounding the Makkah Joint Defence Agreement signed by Saudi Arabia, Turkey, and Pakistan. The agreement, which establishes the principle that an attack on one of the three countries constitutes an attack on all, has triggered a wider Gulf debate over what it means for the future of regional security.

Some Gulf commentators fear that building a new regional defense arrangement outside the Gulf Cooperation Council could further weaken Gulf security cooperation. Others see precisely the opposite: the pact could give the GCC additional strategic depth, diversify Gulf security partnerships, and perhaps become the nucleus of a broader regional defense system.

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Geopolitics

• “Saudi ⁠Arabia, Pakistan and Turkiye sign defence deal amid regional turmoil.” Al Jazeera, August 7, 2026.

“Saudi ⁠Arabia, Pakistan and Turkiye have signed a ⁠joint defence agreement, deepening ‌security cooperation amid heightened military tensions and conflicts in the Middle East.”

“Reporting from the Turkish capital, Ankara, Al Jazeera’s Resul Serdar Atas said that while the deal was purely defensive, such agreements bring about cooperation in other sectors, too. ‘It’s all about the trust now,’ Serdar said. ‘There are expectations in Ankara that this will also boost economic ties with Riyadh and Islamabad.’”

Go Deeper: “Saudi Arabia names commander for maritime defence coalition.” Al Jazeera, August 6, 2026.

• “Saudi expects imminent two-pronged attack from Iran’s allies, official says.” Reuters, August 6, 2026.

“The official, speaking on condition of anonymity, said late on Thursday that intelligence reports from Saudi Arabia, the United States and other regional countries indicated civilian and economic sites could be targeted, including energy infrastructure, ports and airports.”

• “Iran, Oman, US ‘close’ to Hormuz deal: What do they all want?” Al Jazeera, August 5, 2026.

“On Thursday, Tehran said it had agreed coordinates for new shipping routes through the strait with Oman.”

“Only eight vessels transited the strait on Monday, compared with roughly 130 ships per day before the US-Israel war on Iran erupted on February 28.”

Go Deeper: “Iran and Oman exchange proposals to manage Strait of Hormuz.” Al Jazeera, July 28, 2026.

• “Qatar Keeps Washington-Tehran Dialogue Channel Open as Mediators Push for Lasting Deal.” Qatar Ministry of Foreign Affairs, August 4, 2026.

“Advisor to the Prime Minister and Official Spokesperson for the Ministry of Foreign Affairs Dr. Majed bin Mohammed Al Ansari affirmed Tuesday that the State of Qatar, the Sultanate of Oman and Pakistan have been bending constant efforts to facilitate engagement between Iran and the United States to bridge their viewpoints.”

“Dr. Al Ansari said the current priority is to contain the escalation and reopen the way for diplomatic efforts. He stressed the importance of returning to the negotiating table as the optimal off-ramp to address the ongoing disputes.”

Market & Economy

• “Saudi Crude Shipments to US Plunge to Zero as Oil Refiners Pivot.” Bloomberg, August 6, 2026.

“Venezuela has been a big winner in the pivot away from Saudi crude. American refiners imported around 600,000 barrels of the Latin American country’s crude in July, up from roughly 100,000 at the start of the year.”

• Aramco announces second quarter and half year 2026 results. Aramco, August 4, 2026.

“Commenting on the results, Aramco President & CEO Amin H. Nasser said: ‘Aramco’s first-half performance in 2026 has been defined by the remarkable resilience of our people and the agility of our business and operations to withstand and respond to rapidly changing market conditions. Despite the unprecedented supply disruption through the Strait of Hormuz, we continued to demonstrate our ability to maintain business continuity by capitalizing on our diverse asset base and multi-decade planning, including strategic infrastructure such as the East-West Pipeline, storage capacity, and export terminals. That enabled us to sustain production and exports while advancing key projects, despite the challenging regional environment.’.”

Go Deeper: “2026 Aramco Second Quarter and Half-Year Interim Report.” Aramco, August 4, 2026. [PDF].

• “Gulf investors turn to Asia for AI opportunities.” Semafor, August 7, 2026.

“Qatari telecom Ooredoo is the lead investor in Zankore, a new AI compute platform in Indonesia, committing $800 million to support its launch. The company plans to deliver 200 megawatts of capacity next year, with Nvidia and Nokia as suppliers. Ooredoo, which has had a foothold in Indonesia for nearly two decades, sees data center demand more than tripling in Southeast Asia by 2030.”

• “UAE Fund Weighs $6.3 Billion for Japan AI Data Center.” Bloomberg, August 6, 2026.

“Total investment surrounding the project, including by suppliers and other companies looking to establish operations nearby, could reach as much as ¥2 trillion, the person said. A consortium of Japanese companies would likely handle construction and related infrastructure, they added.”

• “Kuwait Investment Authority Secures $4.25 Billion Loan.” Bloomberg, August 5, 2026.

“Kuwait has been targeted repeatedly by Tehran, with US bases, as well as Kuwaiti power and water plants, being damaged. Even so, the country managed to raise $6 billion from a bond sale last month, highlighting resilient demand for the OPEC member’s debt.”

Go Deeper: “Kuwait Sells $6 Billion of Bonds Despite Iran Strikes.” Bloomberg, July 22, 2026.

• “Saudi investments expand 5.1% in Q1 2026.” Zawya, August 6, 2026.

“Private and public-sector investments continued to pour into new fixed assets and infrastructure in Saudi Arabia amid ongoing economic expansion efforts.”

• “Saudi Arabia’s POS transactions surge 33% as education and freight spending lead the rally.” Arab News, August 07, 2026.

“Saudi Arabia’s total point-of-sale transactions reached SR16.3 billion ($4.35 billion) in the week ending Aug. 1, a 33 percent jump from the previous week, according to the latest data from the Saudi Central Bank, also known as SAMA.”

• “UAE’s Adnoc Buys $1.3 Billion of Tankers as Oil Exports Boom.” Bloomberg, August 7, 2026.

“The UAE has also been able to route oil through a cross-country pipeline skirting Hormuz. Since the pipeline can carry less than half of the roughly 3.6 million barrels a day of crude the UAE has exported over the past two months, tanker availability has proved key.”

Go Deeper: “Saudi Arabia sustains non-oil growth and Kuwait rebounds.” AGBI, August 2026.

• “Qatar’s transport infrastructure market to reach QR47.8bn in 2026.” The Peninsula, August 2, 2026.

“Qatar’s transportation infrastructure construction industry is entering a new phase of long-term, strategy-led growth, with the sector projected to expand to $13.12bn (QR47.82bn) this year from $12.48bn (QR45.48bn) in 2025, according to a recent market analysis by Mordor Intelligence.”

• Oman issues $949m in tenders as project awards reach $1.9bn. Arab News, August 2, 2026.

“Oman awarded projects worth 734 million Omani rials ($1.9 billion) and issued new tenders valued at 365 million rials in the first seven months of 2026, as the sultanate stepped up infrastructure and public service investment.”

Go Deeper: “Backers brush off conflict to pour FDI into Oman.” AGBI, August 3, 2026.

• “Dubai’s Emaar Properties Q2 profit rises 9% on strong demand.” Zwaya, August 7, 2026.

“Dubai-listed Emaar Properties reported a Q2 2026 net profit attributable to shareholders of AED 3.67 billion ($999 million), up 9% year-on-year, despite regional geopolitical tensions during the period.”

Green and Climate

• “Gulf renewable projects forecasted to grow despite wartime pressure.” Semafor, August 07, 2026.

“The Iran war has made financing Gulf solar and wind projects more difficult, but the economics still stack up firmly in their favor. The region is expected to add 12 gigawatts of renewable energy capacity this year and twice as much next year, according to a BloombergNEF report. While some delays can be expected, the recent delivery of turbines to Saudi Arabia and the commissioning of a 1.1 GW wind farm in the kingdom indicate the region has been able to access the equipment and material required to complete projects.”

• “UN’s Agricultural Development Fund aims to attract Saudi investors in sustainable bonds, says special envoy.” Arab News, August 07, 2026.

“Dina Saleh, IFAD’s special envoy for the Middle East, confirmed in an interview with Al-Eqtisadiah the fund’s focus on investing in Saudi Arabia’s rural sectors and supporting supply chains to boost coffee and mango production in Jazan.”

• “EAD, DMT strengthen collaboration on Abu Dhabi Waste Management Strategy initiatives.” Zawya, August 7, 2026.

“The initiative goes beyond removing waste from targeted sites. It adopts a systematic methodology that includes waste classification, weighing, and documentation within a structured field database under the Sahim – Citizen Science programme. This data is then analysed to identify the most prevalent waste types across terrestrial and marine environments, providing a clear picture of waste patterns and spatial distribution.”

• “More than 800 arrested in UAE-led operation to tackle environmental crime in Amazon basin.” The National, August 4, 2026.

“The UAE has led a major international operation against environmental crime in the Amazon basin, with 839 suspects arrested and assets valued at more than $280 million seized in 17 days.”

“The arrests were carried out under the UAE’s Law Enforcement for Climate programme, which was launched at the Cop28 summit in Dubai in partnership with the UN Office on Drugs and Crime.”

• “King Fahad Industrial Port receives largest wind energy shipment for Saudi projects.” Zawya, August 5, 2026.

“The components are designated for the Starah and Shaqra wind energy projects, which are part of the Kingdom’s National Renewable Energy Programme aimed at diversifying energy sources and increasing the contribution of renewable energy to electricity generation.”

• “Acwa granted exclusive mandate to export Saudi green hydrogen.” Arab News, July 7, 2026.

“At the heart of this mission lies Neom Green Hydrogen Co., through which the Kingdom aims to become a leading producer and exporter of green hydrogen. The company, a joint venture between Acwa, Neom and Air Products, is expected to produce up to 600 tonnes of carbon-free hydrogen per day by the end of 2026.”

• “Qatar, Saudi Arabia sign deal for cooperation in fields of nuclear safety and radiation protection.” Zawya, August 7, 2026.

“HE Undersecretary of the Ministry of Environment and Climate Change Engineer Abdulaziz bin Ahmed bin Abdullah Al Mahmoud affirmed that the MoU represents a significant addition to the cooperation between the State of Qatar and the Kingdom of Saudi Arabia, and it embodies the deep-rooted fraternal relations and historical ties that bind the two brotherly nations.”

Local (sports, culture, education)

• “Heritage villages transform Baha into cultural tourism hub.” Arab News, August 4, 2026.

“More than 72 heritage villages and historical sites are being restored and developed through partnerships between government authorities and local communities, preserving Saudi Arabia’s cultural identity while creating new economic opportunities for residents through tourism, hospitality and small businesses.”

• “Hopes high for spikers: Bahrain set to chase Arab youth volleyball gold on home court.” Gulf Daily News, August 3, 2026.

“Bahrain named yesterday their final 15-player line-up that will be going for gold at home in the second Arab Youth Volleyball Championship.”

“The under-17 tournament, organised by the Bahrain Volleyball Association (BVA) in coordination with the Arab Volleyball Association (AVA), gets underway on Sunday next week at Isa bin Rashid Volleyball Arena at Isa Sports City in Riffa.”

In this issue, we are sharing Dr. Cinzia Bianco’s conversation. She is a Visiting Fellow at the European Council on Foreign Relations (ECFR), where she is working on political, security and economic developments in the Arabian Peninsula and Gulf region and relations with Europe. Additionally, she is a senior analyst at Gulf State Analytics. Previously, Bianco was a research fellow for the European Commission’s project on EU-GCC relations ‘Sharaka’ between 2013 and 2014.

She holds an MA degree in Middle East and Mediterranean Studies from King’s College London and a PhD in Middle East Politics from the University of Exeter in the United Kingdom, where she worked on threat perceptions in the countries of the Gulf Cooperation Council (GCC) after the 2011 Arab uprisings. She is the author of “The Gulf monarchies after the Arab Spring: threats and security” (Manchester University Press, 2024).

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• Book: Salloukh, Bassel, Darwich, May and Shamaileh, Ammar, “The Arab State After the Uprisings: Theoretical and Empirical Reverberations.” Manchester University Press, October 2026, English.

• Research: “Post-Oil Transition and Capital Intensity: Firm-Level Evidence on Renewable Energy and Environmental Performance in Saudi Arabia.” Chokri Zehri, OPEC Energy Review, July 31, 2026, English.

• Research: “Foreign Aid as Statecraft: Muslim Donors in the Horn of Africa.” Yunus Turhan, Middle East Policy, July 26, 2026, English.

• Analysis: “Gulf energy can bypass the Strait of Hormuz, but only with political unity.” Naser Alsayed, Chatham House, July 30, 2026, English.

• Analysis: “The Gulf on the Threshold of a New Nuclear Map.” Khalid Al-Jaber, Middle East Council on Global Affairs, July 28, 2026, English.

• Analysis: “What the US–Saudi Nuclear Agreement May Change and What it May Defer.” Ludovica Castelli and Nour Eid, Stimson Center, July 27, 2026, English.

• Analysis: “Why the Gulf’s Oil Export Future Lies in Southeast Asia.” Hannan Hussain, Middle East Council on Global Affairs, July 27, 2026, English.

• Analysis: “Parsing Trump’s Decision to (Maybe) Give Uranium Enrichment to Saudi Arabia.” Richard Nephew, War on the Rocks, July 29, 2026, English.

• Analysis: “The Channels of China’s Currency Promotion in Gulf Markets.” Andrew Bonney, Carnegie Endowment (Sada), July 30, 2026, English.

• Analysis: “Business as usual? No, but Gulf banks will still be profitable.” Andrew Cunningham, AGBI, July 30, 2026, English.

• Analysis: “Oman weighs its fragile peace dividend.” Frank Kane, AGBI, July 28, 2026, English.

• Analysis: “Can Kuwait secure a Saudi-style defense pact with Pakistan?“ Sabena Siddiqui, Al-Monitor, July 26, 2026, English.

• Analysis: “How Gulf banks are absorbing Iran war shocks.” Jack Dutton, Al-Monitor, July 26, 2026, English.

• Podcast: “How Did Mohammed bin Rashid Change the Concept of Government?” Ali bin Sebaa Al Marri, Arab Cast, July 30, 2026. [Eng Translation].

• Podcast: “When Will Saudi Arabia Build Nuclear Reactors?” host Khalid Al-Issa, Socrat Podcast, July 28, 2026. [Eng Translation].

• Podcast: “Yemen and the New Battle for the Red Sea.” speakers Yasmeen Al-Eryani, Frédéric Schneider, Cinzia Bianco, and Rafat Al-Akhali, ME Council, Jul 30, 2026.

• Webinar: “Sensitive Diplomacy: The US-Saudi Nuclear Agreement.” Speakers: Michael Ratney and F. Gregory Gause III MEI, July 29, 2026.

• Webinar: “The Battle for Global Trade Routes: Hormuz, the Red Sea, and Alternative Corridors.” Speakers: Ambassador Patrick Theros, Professor David Des Roches, Dr. Dania Arayssi, Robin Mills, and Mohammed Baharoon, Gulf International Forum, July 28, 2026.

• Podcast: “Freediving, Mental Strength & the Beauty of the Red Sea.” The Mo Show, Salma Shaker, July 13, 2026.

Kuwait’s approval of a defense cooperation agreement with Pakistan prompted debate among Gulf commentators over its strategic significance. While support for closer military cooperation was widespread, disagreement centered on whether the agreement should remain a limited defense arrangement or signal a broader shift in the Gulf’s regional security strategy.

Read more

Geopolitics

• “Trump pegs Saudi nuclear deal to Israel talks.” Semafor, July 23, 2026.

“Riyadh has long pegged normalization with Israel to the establishment of a Palestinian state, which Israel’s government opposes. But Iran’s attacks across the Middle East have placed the Gulf and Israel on the same side of the conflict, which could at least “make normalization easier,” Semafor’s Gulf editor wrote.”

Go Deeper: “Trump Adds New Israel Hurdle to Saudi Nuclear Deal.” WSJ, July 23, 2026.

• “Yemen’s Houthis to Impose Maritime Blockade on Saudi Arabia.” Bloomberg, July 20, 2026.

“The kingdom diverted its oil supplies to key Red Sea port of Yanbu following the outbreak of the war and Iran’s effective closure of Hormuz. Those exports, which rose to a record 4.19 million barrels a day last month, have helped limit the disruption to global supplies, but the route remains fragile as it exposes tankers to the Houthi militants who have previously attacked ships in the Red Sea.”

Go Deeper: “The Houthis just announced a blockade on Saudi Arabia. What does it mean for the global economy?” Atlantic Council, July 20, 2026.

• “Saudi, UAE officials use social media to signal unity after months of tension.” Reuters, July 22, 2026.

“The two Gulf heavyweights have seen their ​interests diverge for years on everything from oil quotas to geopolitics, with the disagreements coming into the open late last year over ​their support for opposing sides in the war in Yemen.”

Go Deeper: “Saudi Arabia, UAE Officials Signal Unity After Months of Tensions.” Bloomberg, July 22, 2026.

• “Brent Hits $100 Again as Houthi Attacks Threaten Further Supply Squeeze.” WSJ, July 23, 2026.

“The global oil benchmark soared 7.2% to $100.82 a barrel on Thursday, its highest level since the end of May, while West Texas Intermediate futures climbed 5.8% to $91.83 a barrel. The contracts have gained more than 19% and 16%, respectively, this week.”

Go Deeper: “Oil Prices Waver as Gulf Ship Traffic Falls to Lowest Level in Months.” New York Times, July 24, 2026.

• “US approves $41bn of arms sales to GCC in six months.” AGBI, July 24, 2026.

“Agreements announced by the State Department from January until the end of June reached $41 billion, compared with $9 billion for all of last year. The total is higher still when expansions to previously announced deals are included.”

Go Deeper: “The Gulf States Need Better Defense Integration, Not More Weapons.” Gulf International Forum, Jun 2, 2026.

Market, Economy, and Local News

• “Kuwait Sells $6 Billion of Bonds Despite Iran Strikes.” Bloomberg, July 22, 2026.

“Investor orders for the Gulf Arab country’s three-part dollar deal reached about $14.8 billion at final terms, allowing it to tighten spreads by 25 basis points across all tranches from the initial price talk, according to a person familiar with the matter.”

Go Deeper: “Kuwait: 2025 Article IV Consultation-Press Release; and Staff Report.” IMF, Feb 24, 2026.

• “UAE Doubles Down on $1.4 Trillion US Pledge, Faults EU on Trade.” Bloomberg, July 23, 2026.

“The United Arab Emirates says it’s ahead of schedule with a plan to invest $1.4 trillion in the US over the next decade, and criticized the European Union for stalling trade talks.”

Go Deeper: “Staff warned of major security risks from giving UAE new tech access. The White House went ahead anyway.” Politico, July 22, 2026.

• “Buyers to press Qatar, UAE for cheaper, more flexible LNG deals after Hormuz shock.” Reuters, July 23, 2026.

“Qatar’s vast reserves helped the country become the dominant force in the global gas market. It and the neighbouring UAE, where production volumes are ​increasing, account for around one-fifth of global LNG export capacity - all of which relies on the strait to reach global ⁠markets.”

Go Deeper: “Price volatility: A double-edged sword for the LNG industry.” IEEFA, July 21, 2026.

• “Abu Dhabi National Oil Company invests in $6.2B domestic gas project,” Semafor, July 21, 2026.

“The project is expected to produce more than 600 million cubic feet of gas a day from 2030, equivalent to almost 10% of the UAE’s current daily consumption.”

Go Deeper: “Abu Dhabi’s national oil company is committing $6.2 billion to a massive offshore gas field.” Quartz, July 21, 2026.

• “DP World plans two ports in booming Fujairah.” July 23, 2026.

“The war has been a windfall for Fujairah, which has favorable access to the Indian Ocean outside Gulf waters — the UAE’s six other emirates largely sit within the Strait of Hormuz. An overground logistics network will link DP World’s flagship terminal in Dubai with the new ports in Fujairah, the company said, emphasizing the emirate’s growing importance as a maritime gateway.”

Go Deeper: “Dubai’s DP World to Build Two New Terminals on U.A.E. East Coast, Bypassing Hormuz.” WSJ, July 23, 2026.

• “Blackstone plans Dubai office as it eyes further Gulf expansion, sources say.” Reuters, July 24, 2026.

“Since the beginning of the conflict, Blackstone has announced a deal with ​Dubai’s DAE for a joint ​aircraft leasing investment programme ⁠and has invested $250 million in a UAE-based payments and data intelligence technology platform.”

Go Deeper: “Lessons from business leaders in Dubai: How to continue operating during a conflict.” World Economic Forum, May 1, 2026.

• “Iran war costs squeeze Gulf’s protein boom.” Semafor, July 24, 2026.

“Gulf consumers have long embraced the global protein craze, but the Iran conflict is squeezing the margins of food companies seeking to profit from the trend. Riyadh-based National Agricultural Development Co., better known for its dairy brand Nadec, doubled sales in its protein segment, helping lift second-quarter revenue by 5.5%. But profit for the period fell 44% as higher feed and shipping costs erased those gains.”

• “King Salman appoints new ministers, reshuffles cabinet.” Al Arabiya, July 11, 2026.

“King Salman appointed Ihsan bin Abbas bin Hamza Bafaqih Secretary of Jeddah Governorate, Abdullah al-Dahim as Deputy Governor of the Saudi Central Bank for Executive Affairs, and Talal al-Hamoud as Deputy Governor of the Saudi Central Bank for Technical Affairs.”

Go Deeper: “Saudi Arabia adds industry, mineral resources portfolio to Energy Minister Prince Abdulaziz’s role.” Reuters, July 11, 2026.

• “Middle East Green Initiative targets 35.4 billion trees, 99.4 million hectares of land restoration.” Saudi Gazette, July 23, 2026.

“Member states of the Middle East Green Initiative aim to plant 35.4 billion trees and rehabilitate 99.4 million hectares of degraded land, the initiative’s Executive Committee said during its 20th meeting.”

Go Deeper: Adel M. Ghanem, Yosef A. Alamri “The impact of the green Middle East initiative on sustainable development in the Kingdom of Saudi Arabia” Journal of the Saudi Society of Agricultural Sciences, Volume 22, Issue 1, 2023.

• “DEWA expands power grid with $2.7bln transmission investment.” Zawya, July 23, 2026.

“Announcing this, Managing Director and CEO Saeed Mohammed Al Tayer said Dewa commissioned eight 132-kilovolt (kV) transmission substations in the first half of 2026 with a combined conversion capacity of 1,200 megavolt-amperes (MVA). The projects included 20 km of transmission cables, worth AED970 million.”

Go Deeper: “Gulf Energy Transition Through Renewable Energy Development.” Baker Institute, February 26, 2026.

• “Malaysia May Again Host Formula One Racing With Bahrain in Doubt.” Bloomberg, July 24, 2026.

“The Bahrain Grand Prix was supposed to be held in April this year, but the contest was one of two Middle East races indefinitely postponed due to the the ongoing war between the US and Iran. Bahrain has sought to reschedule the race for early October, ESPN reported on Thursday, citing unidentified sources, but uncertainty persists due to fresh escalation of the conflict this month.”

• “Kuwaitis cut down AC use in peak summer to save electricity as Iran hits power grid.” Khaleej Times, July 21, 2026.

“Kuwaiti authorities have called on the public to consume less energy so that they can maintain round-the-clock electricity as the grid comes under Iranian attack. Nasser Al Dhafiri, a civil servant in his forties, described “immense psychological pressure” on ordinary people as the attacks sparked fears of electricity outages.”

• Book: Simons, Gregory John, Khaled Al-Kassimi, and Kleanthis Kyriakidis, eds. “Guardians of the Gulf: Navigating Security Challenges.” June 2026, Springer Nature Switzerland.

• Research: “Gender, race and migrant labour: experiences of African women in Saudi Arabia.” Munuhe Maina, Third World Quarterly, July 2, 2026.

• Research: “The energy transition of the United Arab Emirates 2008–2023: From Masdar City to COP28.” Małgorzata Kamola-Cieślik, Fuad Jomma and Dana Mohammed Danish Aladdin Sajadi, Baltic Journal of Economic Studies, July 3, 2026.

• Research: “Governing artificial intelligence in the financial sector: regulatory challenges and policy implications in Saudi Arabia.” Muez Osman, AI and Ethics, July 6, 2026.

• Research: “Legal grounds for imposing liability on insider trading activities occurring in the Saudi Stock market.” Abdullah Faraj Al Dossari, Cogent Social Sciences, July 7, 2026.

• Research: “Decentralised nutritional authority: how food-delivery platforms reshape household provisioning in Qatar.” Asma H. Malkawi and Maryam Melhim, British Food Journal, July 7, 2026.

• Analysis: “The Geopolitics of Reviving the Hejaz Railway.” Giorgio Cafiero, AGSI, July 1, 2026.

• Analysis: “The Omani Route Toward a New Maritime Security Order.” Khalid Al-Jaber, Middle East Council on Global Affairs, July 1, 2026.

• Analysis: “In the Middle East and North Africa, America and China Converge More Than They Diverge.” Amr Hamzawy and Kathryn Selfe, Carnegie Endowment for International Peace, July 1, 2026.

• Analysis: “Syria Is the Answer.” William Roebuck, AGSI, July 2, 2026.

• Analysis: “Trump’s Family Business Deals Risk Further Undermining the Credibility of US Middle East Policy.” Brian Katulis, Middle East Institute, July 2, 2026.

• Analysis: “All About Those Ports.” Robert Mogielnicki, AGSI, July 6, 2026.

• Analysis: “After the Hormuz Crisis, No Return to the Status Quo.” Kate Dourian, AGSI, July 7, 2026.

• Analysis: “Pakistan and Qatar’s Emergence as Key Mediators in Iran-U.S. Diplomacy.” Giorgio Cafiero, Middle East Council on Global Affairs, July 7, 2026.

• Analysis: “Saudi Arabia Weathers the Iran War Thanks to Investments in ‘Economic Resiliency.’” Tim Callen, AGSI, July 8, 2026.

• Analysis: “How the Future of Hormuz Is Testing Oman’s Balancing Act.” Paul Wallace, Bloomberg, July 9, 2026.

• Analysis: “The Hormuz Blockade Experience Is Forcing Food Security Adaptation.” Logan Cochrane, Middle East Council on Global Affairs, July 9, 2026.

• Analysis: “Iran Uses Diplomacy and Coercion to Perpetuate Control of the Strait of Hormuz.” Leonardo Jacopo Maria Mazzucco, Stimson Center, July 9, 2026.

• Analysis: “Why Oil Was Never in Danger of Reaching $200 a Barrel.” Francesca Washtell, AGBI, July 10, 2026.

• Interview: “Jassim Al-Mutawa and the Souk Al-Manakh Era.” The Black Box, July 10, 2026.

• Webinar: “How Gulf Economies Withstood the Hormuz Crisis.” ORF, July 3, 2026.

• Podcast: “What Our Airlines Are Missing—and What Riyadh Air Brings.” Socrates Podcast, July 8, 2026.

• Podcast: “Do the Gulf States Need a New Playbook?” Middle East Focus, Jul 2, 2026.

The Houthis’ renewed threats against Saudi Arabia and their declared willingness to close the Bab al-Mandab Strait have revived an old Gulf question: who can realistically restore stability in Yemen? While Gulf commentators broadly agree that the Houthis represent a serious security challenge and that Iranian influence has expanded through the movement, they differ sharply on the most effective response. Some argue that backing Yemen’s internationally recognized government has failed and that Gulf states—particularly Saudi Arabia—should instead deepen their support for the Southern Transitional Council (STC). Others insist that abandoning the legitimate state would only deepen Yemen’s fragmentation and strengthen Iran’s long-term position. A third group places Yemen within a much broader geopolitical struggle, arguing that Bab al-Mandab can no longer be understood separately from Hormuz or the wider competition over global maritime routes.

Read more

Geopolitics

• “Iran attacks Qatar, Bahrain and Kuwait after deadly U.S. strikes.” CNBC, July 9, 2026.

“Iran says it has attacked U.S. forces in Bahrain, Qatar and Kuwait after the U.S. bombed Iranian cities for a second consecutive night. CNBC’s Emma Graham reports from Abu Dhabi.”

Go Deeper: “Iran Update Special Report, July 9, 2026.” ISW, July 9, 2026.

• “Canada’s Carney defends his visit to Saudi Arabia and slams criticism from afar.” AP, July 9, 2026.

“Carney has been seeking to expand his country’s economic ties beyond its heavy reliance on the United States, and diversify trade and attract investments against the backdrop of U.S. President Donald Trump’s tariffs and threats to the U.S.-Mexico-Canada trade agreement.”

Go Deeper: “Canada wants broader Saudi ties, won’t lecture from ‘afar’: Carney.” Al-Monitor, July 9, 2026.

• “Saudi Arabia considers expansion of oil pipeline to Red Sea, sources say.” Reuters, July 7, 2026.

“The kingdom is in preliminary talks with ⁠some of its neighbours about the potential expansion of the pipeline’s capacity by up to 2 million bpd, the sources said..”

“It was unclear if Aramco’s ​planned capacity increase would involve upgrades to existing infrastructure or construction of a new pipeline. One of the sources said the increase would include a ​smaller second pipe for oil products.”

Go Deeper: “New Middle East corridors are about more than just bypassing the Strait of Hormuz.” Allison Minor, Atlantic Council, July 6, 2026.

• “Saudi Arabia explores IMEC route through Syria, sidestepping Israel, sources tell ‘Post’.” The Jerusalem Post, July 9, 2026.

“The initiative envisioned a network of railways, ports, and shipping lanes, connecting India to the United Arab Emirates, Saudi Arabia, Jordan, Israel, and Greece. It would provide a faster alternative to traditional maritime routes while strengthening economic integration across the region.”

Go Deeper: “Saudi Arabia,Turkey: Battle Over IMEC,What It Means for Haifa, Piraeus and Eilat.” The Times of Israel, June 13, 2026.

• “Saudis Slash Main Oil Price to Rare Discount as Market Dives.” Bloomberg, July 6, 2026.

“State producer Saudi Aramco will lower Arab Light oil for next month by $11 a barrel to $1.50 below the regional benchmark, according to a price list published Monday. The last two times it sold the grade at a discount were during price wars in 2020 and 2015, while it marks the largest monthly reduction in official selling prices since at least 2000.”

Go Deeper: “Saudi oil price cut unlikely to convince sated Asia buyers, traders say.” Reuters, July 7, 2026.

• “UAE president arrives in Kuwait for talks with emir.” Arab News, July 09, 2026.

“It affirmed the UAE’s full support for the two Gulf Cooperation Council member countries and all measures aimed at safeguarding their security and stability, the Emirates News Agency reported.”

Go Deeper: “The UAE Woos Kuwait… In Confrontation with Saudi Arabia?” Al Hurra, Feb 3, 2026.

Economy, Markets and Domestics

• “Saudi Arabia, Canada launch investment pact talks, deepen mining partnership.” Saudi Gazette, July 10, 2026.

“The two countries also pledged to deepen cooperation in defense, cybersecurity, counterterrorism and combating transnational organized crime, while expanding collaboration in healthcare, biotechnology, digital health, pharmaceuticals, medical technologies, research and workforce development.”

Go Deeper: “Carney’s Saudi Arabia trip a ‘high-water mark’ for relations: Business leader.” Kyle Duggan, Canada National Observer, July 9, 2026

• “Canada tells UAE it is not ready for its C$70bn investment.” Financial Times, July 7, 2026.

“The reason was a lack of projects at a stage where they could deploy the money. Former Quebec premier Jean Charest..”

Go Deeper: “Canada tells UAE it has no projects ready for billions in pledged investment - report.” I24 News, July 7, 2026.

• “Qatar Pauses Push to Ramp Up LNG After Hormuz Tanker Attack.” Bloomberg, July 9, 2026.

“The pause is one of the most high-profile fallouts of the heightened tensions this week with attacks on a number of ships near Hormuz and the US striking Iran for two consecutive days. President Donald Trump on Wednesday even raised the prospect of a return to all-out war, a worst-case scenario for energy producers in the region who were gradually recovering from the impact of the conflict.”

Go Deeper: “Qatar LNG under constraint: capacity loss and export dislocation.” Irina Mironova, Cedigaz, April 23, 2026.

• “UAE tops Arab region in FDI inflows in 2025 with $48.2 billion.” Arab News, July 08, 2026.

“According to UNCTAD estimates cited in Dhaman’s annual report, FDI inflows to Arab countries fell 10 percent to US$119.3 billion in 2025. More than 80 percent of total inflows were concentrated in three Arab countries, while the region’s share of global FDI declined to 7.3 percent and its share of FDI to developing economies fell to 13.3 percent.”

Go Deeper: “UAE Foreign Direct Investment, report 2025.” [UAE] Ministry of Investment, 2025. [PDF].

• “Businesses report blocked payments from Saudi Arabia to the UAE, raising fears of worsening ties.” Middle East Eye, July 08, 2026.

“Several sources told the Financial Times that payments from Saudi banks to UAE-based accounts belonging to companies and individuals in Dubai had been returned or held up since May, often without explanation.”

Go Deeper: “Saudi-UAE tensions hit money flows.” Yahoo, July 8, 2026.

• “Al-Hogail launches SR1.67 billion municipal, housing projects in Al-Baha.” Saudi Gazette, July 10, 2026.

“Municipal projects included completed developments worth SR464 million and new projects valued at SR873.5 million, covering roads, sidewalks, street lighting, flood mitigation, parks, public facilities and other infrastructure aimed at improving services for residents and visitors.”

Go Deeper: “Saudi Arabia’s Residential Property Market Analysis 2026.” Global Property Guide, Mar 1, 2026.

• “Abu Dhabi’s e& exits Vodafone investment in $5.95bln deal.” Zawya, July 10, 2026.

“The sale covers 3.94 billion Vodafone shares at 112.5 GB pence ($1.51) per share, comprising about 110.5 pence in cash and a 2.02 pence FY26 dividend, payable on July 30, 2026..”

“The shares will initially be transferred through off-market block trades to three financial institutions who will hold them until Vega completes the regulatory requirements.”

• “United Solar completes $1.6bln funding for Oman polysilicon plant with IFC investment.” Zawya, July 6, 2026.

“In a separate statement that month, United Solar had announced that it secured $480 million in term debt financing from IFC and partner banks and more than $400 million in term debt and working capital facilities from local commercial banks led by Sohar International for the project.”

Go Deeper: “The Gulf could turn extreme heat to its advantage.” AGBI, July 8, 2026.

• “Abu Dhabi’s ADNEC reports record $2.5 bln economic contribution in 2025.” Zawya, July 6, 2026.

“In 2025, ADNEC Group generated AED9.2 billion in economic impact, an 8% increase from AED8.5 billion in 2024. Through its business and leisure tourism activities, the group generated 2.17 million hotel room nights, reflecting its growing role in driving economic growth and supporting the UAE’s strategic objective of building a diversified, knowledge‑based economy.”

• “Kuwait renewable energy firm plans equity raise to expand across MENA.” Zawya, July 8, 2026.

“AEP had recently secured several competitive solar projects in Kuwait and Oman, further validating the strength of its pipeline, commercial competitiveness, and ability to convert opportunities into awarded projects.”

• “Exclusive / Microsoft deepens AI ties with UAE to automate government work.” Semafor, July 8, 2026.

“Microsoft’s ties to the emirates are already significant: It has committed $15.2 billion to the country by 2030 and taken a stake in G42. Microsoft President Brad Smith previously told Semafor the company has broad ambitions for the UAE, seeing it as a gateway for computing power and data storage across the wider region.”

Go Deeper: “Abu Dhabi Ruler’s Family Office Is a Global Dealmaking Force.” Bloomberg, July 6, 2026.

• “ADNOC spends $1B on gas stations in South Africa.” Semafor, July 7, 2026.

“The Abu Dhabi state oil company’s retail arm, ADNOC Distribution, has bought Shell’s downstream business in South Africa for $1 billion, adding to a string of foreign acquisitions in recent months. The deal hands ADNOC 580 gas stations and a 10% market share in Africa’s largest economy.”

• “Qatar: Mortgage transactions reach $3.56bln in Q1.” Zawya, July 10, 2026.

“The volume of mortgage transactions achieved during Q1 2025 reached 434 transactions, with a total amount of QR10.037bn where Doha Municipality registered the highest number of mortgage transactions with 164 equivalent to 37.8 percent, followed by Al Rayyan Municipality with 117 transactions equivalent to 27 percent, then Al Daayen Municipality with 50 transactions equivalent to 11.5 percent of the total number of mortgaged properties.”

• “Acwa Power sets new dividend policy until 2030.” AGBI, July 8, 2026.

“The board also recommended a dividend payment of SAR353 million ($96 million), or SAR0.46 per share, for 2025 subject to shareholders’ approval.”

“Acwa Power reported a 19 percent year-on-year drop in net profit to SAR345 million in the first quarter of 2026 despite a 3 percent annual increase in revenue to SAR2 billion.”

• “Kuwait Investment Company’s German subsidiary secures €23mln loan.” Zawya, July 8, 2026.

“Wisaly is a real estate entity operated by the publicly listed KIC, one of Kuwait’s oldest investment firms that is 62.04% owned by the country’s wealth fund, the Kuwait Investment Authority, according to LSEG data.”