West Asia News Live: Saudi diplomacy gains momentum amid rising instability in Syria, Gaza

Israel reports cancer research development with biotech and diplomatic implications

A new method to reprogramme immune cells to combat cancerous cells has been developed in Israel, Haaretz says in a report. The report notes this development in immunotherapy could reinforce Israel’s position as a hub for biotechnology and attract foreign investment. It also highlights the discovery as an opportunity for scientific and medical collaboration with signatories of the Abraham Accords, such as the UAE and Bahrain, through joint research and business ventures. The advance is framed in the report as an example of health diplomacy being used for economic and strategic benefit.

Zarif’s nuclear pact proposal signals potential diplomatic shift under new Iranian leadership

Former Iranian Foreign Minister Javad Zarif has proposed a UN-endorsed regional forum for civil nuclear cooperation, a move seen as a significant diplomatic signal from the new administration of President Masoud Pezeshkian, according to a report in The Guardian. The proposal, aimed at resolving the impasse over Iran’s nuclear programme, comes amid stalled JCPOA negotiations and heightened regional tensions. From a market perspective, any credible step towards de-escalation could reduce the geopolitical risk premium affecting oil prices and regional investments. However, the initiative faces deep scepticism from regional powers like Saudi Arabia and Israel, who will demand that any agreement also address Iran’s ballistic missile programme and support for proxy forces. For international businesses, the proposal represents a potential, albeit long-term, pathway towards the easing of US sanctions, which have severely hampered economic activity and foreign investment in Iran.

Demobilized Israeli soldiers work to rebuild a damaged kibbutz on the Lebanon border

A group of 10 recently demobilized Israeli soldiers is working to rebuild Kibbutz Manara on the Lebanon border to honor fallen friends, according to a report in The Times of Israel. The community suffered extensive damage during the conflict with Hezbollah, with 75% of its buildings affected. Following evacuations, only 40% of the kibbutz’s population has returned, and the initiative by the former soldiers aims to revitalize the community.

Portugal mulls recognition of Palestinian state following moves by other EU nations

The Portuguese government is considering the formal recognition of a Palestinian state, with the prime minister initiating consultations with the nation’s president and other political leaders on the matter, Israel National News says in a report. This move follows the recent decision by fellow European nations Spain, Ireland, and Norway to formally recognise Palestinian statehood. The deliberation in Lisbon occurs amid a backdrop of increased diplomatic activity at the United Nations, where the General Assembly recently supported Palestine’s bid for enhanced rights. Such a step by Portugal could realign its foreign policy, potentially straining diplomatic and economic relations with Israel and the United States, whilst also highlighting growing divisions on the issue within the European Union.

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Israeli minister Bezalel Smotrich rejects partial hostage deals, calls for ‘total victory’ over Hamas

Israeli Finance Minister Bezalel Smotrich has declared he will not support any partial hostage deal with Hamas, advocating instead for continued military action until “total victory”, Israel National News said in a report. Speaking at the Vision Conference, Smotrich, who is also a minister in the Defense Ministry, stated that Israel must choose between continuing its military campaign or succumbing to external pressures. This hardline stance signals a rejection of current international diplomatic efforts aimed at securing a phased hostage release and a temporary ceasefire.

Saudi Arabia’s welcome of Palestinian statehood recognition signals shifting regional dynamics for investors

Saudi Arabia has officially welcomed the stated intention of Canada and Malta to recognise the State of Palestine, a development with significant implications for regional economic stability and investor sentiment, as per a report in Asharq Al-Awsat. This move, following similar recognitions by Spain, Ireland, and Norway, increases diplomatic pressure on Israel, potentially creating market uncertainty and affecting foreign investment. For Saudi Arabia, the announcement reinforces its diplomatic standing in the Arab world, a key factor in its strategic economic initiatives and its position as a stabilising force in global energy markets. The growing divergence between the US and key allies like Canada, now under Prime Minister Mark Carney, on this issue could also influence coordinated international economic policies related to West Asia.

Saudi Arabia dispatches additional humanitarian aid convoy to Gaza

Saudi Arabia has dispatched an additional relief convoy with humanitarian supplies for the Gaza Strip to address the severe humanitarian crisis in the territory, according to a report in Asharq Al-Awsat. The aid delivery is intended to help alleviate widespread shortages of food, water, and medicine for the population in the territory, which have been exacerbated by the ongoing conflict.

Abu Dhabi secures 10-year exclusive rights for Sphere venues in MENA region

Abu Dhabi has secured exclusive rights to develop and operate Sphere entertainment venues across the Middle East and North Africa for at least 10 years, according to a report in Skift. The agreement, disclosed in a US Securities and Exchange Commission filing by Sphere Entertainment, grants the exclusive licence to Abu Dhabi’s Department of Culture and Tourism. This right will commence after the opening of the planned Sphere Abu Dhabi and covers the entire MENA region, positioning the emirate as the sole partner for the immersive entertainment concept in that geographic area for the next decade.

Saudi team participates in international nuclear science olympiad in Malaysia

A team representing Saudi Arabia is taking part in the International Nuclear Science Olympiad hosted in Malaysia, Asharq Al-Awsat said in a report. The event is an academic competition for students centered on the fundamental principles of nuclear science.

US envoy says Syria is cooperating with FBI investigation into American’s death

US special envoy for Syria Tom Barrack has stated that the Syrian government is fully cooperating with an FBI investigation into the death of an American citizen during recent unrest, Al-Monitor says in a report. This direct engagement comes despite the US having officially severed diplomatic relations with Damascus in 2012 and maintaining extensive sanctions against the Syrian regime. The involvement of a special envoy, a role used in the absence of formal diplomatic ties, is consistent with the current state of US-Syria relations.

US to impose 15% tariff on Israeli goods starting Friday

The United States administration under President Donald Trump has signed an executive order imposing a 15% tariff on Israeli goods, which is set to take effect on Friday. The new rate represents a decrease from a 17% level that was announced in April. The 15% tariff is higher than the 10% rate that Israel had reportedly hoped for.

Saudi and Palestinian foreign ministers sign memoranda of understanding to bolster cooperation

The foreign ministers for Saudi Arabia and the Palestinian Authority have signed several memoranda of