The issue leads with Syria, where the dramatic end to Bashir Al-Assad’s rule has created another crisis for Iran’s regional strategy and is an unnerving moment for Gulf monarchies which, in the name of ‘stability’, had been rebuilding ties with a Damascus regime that seemed to have survived a decade-plus of civil war.
Diplomatic strategies will now have to be hastily redrawn, with an initial focus on ensuring Syria does not slide further into turmoil.
GSN also takes a look at indications that Qatar is looking to distance itself from Hamas, following an early November announcement that it has halted its mediation efforts between Israel and Hamas, citing the two sides’ unwillingness to engage positively.
Finance and business coverage leads with Qatar, which confirmed a £1bn ($1.3bn) investment in a clean energy programme with the United Kingdom, during a state visit by Emir Sheikh Tamim Bin Hamad Al-Thani in early December.
Sovereign wealth watch examines news that The Iraq Fund for Development (IFD) is in “serious negotiations” with Saudi Arabia’s Public Investment Fund over a promised $3bn investment deal.
Energy and industry coverage includes a look at news that Adnoc has broken ground on its Ruwais LNG megaproject, plus the award of $8bn of contracts to develop more gas-fired power plants in Saudi Arabia Arabia.
The Risk Management Report is on Iran. Tehran has ramped up activity in its nuclear programme, against the backdrop of regional turmoil and amid the risk of further clashes with a more belligerent Israel. While still insisting it has no plans to develop a nuclear bomb, Iran has been adding to its stockpile of enriched uranium – albeit still at a level below weapons-grade – and clashing with western powers and the UN’s nuclear watchdog, the International Atomic Energy Agency.
The GSN View examines Saudi Arabia's diversification drive. The start of Riyadh Metro services in December was a positive sign of progress in the region’s biggest economy. But for all the hype about the kingdom’s shift away from its historic reliance on oil revenues, hydrocarbons are as vital to the economy today as they were when Crown Prince Mohammed Bin Salman launched his Vision 2030 diversification strategy in 2016. The turnover of key executives suggests the Saudi top team is unhappy with progress to date.
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