More locals to fill marketing and sales roles

Good morning, friends. It is another morning with the latest developments in the regional war dominating the global news cycle. Meanwhile, at home, we are looking at what this means for regional debt markets.

Watch this space

LABOR — Higher Saudization rates in marketing and sales professions are now in effect after the grace period ended, the Human Resources Ministry said in a statement. The localization rate is now 60% for private sector establishments with three or more employees in these roles. A minimum monthly salary of SAR 5.5k has also been set for Saudi employees to be counted within marketing Saudization quotas.

Ramping up the push: The Ministry also expanded its 100% Saudization mandate earlier this month to cover 69 administrative support professions, covering all private sector entities employing at least one worker in those roles.

Data point

USD 160.4 bn — that’s where Saudi Arabia’s holdings of US Treasuries stood in February 2026, rising by USD 25.6 bn m-o-m in the fastest monthly increase on record, according to data from the US Department of the Treasury. That’s the highest level in six years, putting the Kingdom in 17th place among the largest foreign holders of US debt that month.

The increase was driven by a surge in short-term Treasuries, which jumped 91% m-o-m to USD 54.6 bn, lifting their share of total holdings to 34% from 21% in January. Long-term bonds, meanwhile, edged slightly lower to USD 105.8 bn, accounting for 66% of the portfolio.

It’s official. MENA+ is live.

Our new regional flagship covers the flows of capital, people, and ideas across the Middle East — and beyond it. MENA+ covers AI and tech as well as geopolitics, the war for talent, which BSD is on top (and who's gunning for them), the changing energy economy, new corridors to India and China, and much, much more.

What’s with the “+” in MENA+? We think one of the most powerful stories in the region is the *export* of ideas and capital, not just to neighboring regions (Asia, the Stans) but to international financial centers. MENA countries are jockeying for position in the new global economy now taking shape, and we're going to shape that conversation.

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The big story abroad

The US seized an Iranian cargo ship for allegedly attempting to breach its naval blockade, which President Donald Trump previously said will remain in full force until a peace agreement is signed. Tehran pledged to strike back and said it will not take part in a second round of ceasefire talks, upending Washington’s plans to kick off a fresh round of negotiations before the ceasefire expires tomorrow.

Oil markets jittered at the development, with Brent crude futures jumping over 5% to USD 94.90 a barrel. And we expect the rally that pushed the S&P 500 to fresh highs last week to reverse course when markets open later today as hopes of easing tensions unravel. US futures were broadly in the red this morning.

Seemingly undaunted by the turmoil, Asian markets are up in early trading this morning, with Japan’s Nikkei rising by around 1% and South Korea’s Kospi gaining around 1.3%.

Economists are warning that the conflict’s aftermath will surely harm the US economy, triggering long-lasting inflation, the Financial Times reports. “What we see is that short-term inflation expectations have moved up here in the US,” IMF Managing Director Kristalina Georgieva told the FT.

And in the world of tech and sports, Chinese-made humanoid robots clinched a victory over their human competitors in a half-marathon race in Beijing yesterday. A synthetic marathoner made by Chinese smartphone brand Honor — a Huawei spinoff — managed to break the world record for the half-marathon, signalling vast improvements from last year’s trial which most of the robots failed to complete.