KSA, Italy are cozying up as joint investments planned: Riyadh and Rome are in talks on joint investments in the automotive, mining, oil and gas, defense, hydrogen and space sectors, Reuters reported on Monday, citing statements by Italian Industry Minister Adolfo Urso. His visit to the kingdom is part of a Gulf tour that also includes Qatar and the UAE.

SOUND SMART- The visit comes as Italian PM Giorgia Meloni pushes with efforts to reset ties with Gulf countries since she assumed office last year.

Lured by the Kingdom’s mining potential: Urso said following a meeting with officials in Riyadh that the two countries are set to develop a regulatory and industrial framework that “accelerates strategic autonomy” in the critical raw materials sector.

REMEMBER- We’re going big with energy transition metals: Saudi Arabia aims to become a global hub for green metals critical for the energy transition under efforts to diversify its economy away from oil. This includes tapping significant amounts of uranium and titanium discovered in the country, according to officials. KSA says it has untapped metals and minerals — including copper, zinc, phosphate, and gold — collectively worth USD 1.3 tn.

ALSO- WE JUST ESTABLISHED DIPLOMATIC TIES WITH ARMENIA: Saudi Arabia and Armenia inked this week a protocol to establish diplomatic ties, a statement by the Armenian Foreign Ministry read earlier this week.

AND- FM bin Farhan in Spain for meeting on Gaza war: A two-state solution and the recognition of an independent Palestinian state is the only way to resolve the Israeli-Palestinian crisis, Foreign Minister Prince Faisal bin Farhan told his counterparts during the Union for the Mediterranean’s Regional Forum in Barcelona. He also held Israel responsible for the destruction caused in Gaza, warning that continued escalation would only lead to further chaos and destruction in the region.

Tags: