Weekly Digest
Saudi Arabia, Turkey and Pakistan Sign the Mecca Defence Pact; Gulf Investors Turn to Asia for AI Opportunities; Gulf Renewable Projects Forecasted to Grow.
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.”