Davos Day 4: Israel’s Herzog says 'coalition of nations' should take charge in post-war Gaza

Welcome to the Al-Monitor newsroom, where, while we track grand statements at the World Economic Forum in Davos, our breaking team watches the latest developments between Iran and Pakistan (psst, we’re talking live about the situation on?X? tomorrow at 12 p.m. ET).?

It’s Thursday here, which means Joyce Karam is on the hook for her?Middle East-China newsletter and Associate Editor Ezgi Akin chronicles Ankara’s attempt to safeguard its bilateral ties with Tehran amid regional escalations. Meanwhile, Pentagon Correspondent Jared Szuba is feverishly typing up the?Security Briefing across from me amid security unrest in the region, as strikes by US-UK in Yemen against Houthi rebels continue.?

We're willing to bet that no Davos attendees drifted off during the sessions today, as political leaders were bold in their remarks while the World Economic Forum sped through its penultimate days — Greek Prime Minister Kyriakos Mitsotakis warned that it is not in Israel’s best interest to leave a “new generation of orphans” in its wake following the offensive in Gaza. Saudi ambassador to the US, Reema bint Bandar Al Saud, said that the kingdom’s peace with Israel is conditional upon a Palestinian state and cease-fire.

Israeli President Herzog took the stage next to a photo of Kfir Bibas, a baby taken on Oct. 7, who is still believed to be held hostage by Hamas in Gaza. Herzog said Thursday that “a coalition of nations” made up of forces from both Middle Eastern and Western countries should take charge of the enclave after the conflict against Hamas ends, Jack Dutton reported from Davos. The Israeli leader said that the coalition would focus first on enabling "safety and wellbeing for Israel," then on enabling the "safety and wellbeing of the Palestinians" and bringing "a different future to Gaza."

On the sidelines, Al-Monitor’s President Andrew Parasiliti?moderated a panel with Iraqi Foreign Affairs Minister Fuad Hussein at the Kurdish House.?

Money, money, honey

As business discussion got underway, Khaldoon Khalifa Al Mubarak, chief executive officer and managing director of Mubadala Investment Company, the UAE's sovereign wealth fund, speaking at?No Recovery without Trade and Investment?said that it is maintaining a "globalization" push despite macroeconomic headwinds and increasing "friendshoring." Al Mubarak’s comments reflect those of UAE Economy Minister Abdullah bin Touq al-Mari, who called the Gulf country the "new Swiss" on Wednesday.?

Perhaps it's time to stop generalizing "the region," Hussain Sajwani, chairman, DAMAC International Limited, argued when asked about the regional economic outlook, saying that while some countries are growing very fast, such as the UAE and Saudi Arabia, others, such as Yemen, are at war. “You cannot say the region is the same,” Sajwani, speaking for the private sector, argued. “Every country is different.”?

Speculating on the future, Ahmed Galal Ismail, chief executive officer at Majid Al Futtaim Holding, said that the real estate future of the Middle East looks promising, stating that “the UAE, Saudi and Egypt on a GDP and PPP basis are larger than the UK.” He told listeners to factor that into their regional projections.?

From Alpine villages to desert kingdoms, business leaders are directed to flock south for spring, as Saudi Economy Minister?Alibrahim revealed at?Saudi Arabia: The Course Ahead?that the desert kingdom would host the next World Economic Forum event in Riyadh on April 28 and 29.?

As private sector executives and economy ministers debated financial dealings on the world stage, data released showed that their efforts to avoid political topics might be futile — the World Trade Organization?found that wheat shipments via the Suez Canal plunged almost 40% lower year-on-year. The culprit is none other than the reported attacks by Houthi rebels on cargo vessels in the Red Sea and the Gulf of Aden, as commercial vessels traveling through the area from companies such as Maersk, Hapag-Lloyd, CGM and others?avoid the route.?

As US-UK strikes target the Houthis, deputy leader of Yemen’s presidential council, Aidarus al-Zubaidi,?said in Davos that its military forces need foreign assistance to launch a ground operation that would assist the existing strikes.?

?Stay tuned

Davos enters its last day tomorrow, meaning we will bid farewell to the ultra-rich, all-in-one place at once. Al-Monitor's Jack Dutton has whipped up an interview with Rafael Mariano Grossi, International Atomic Energy Agency Director General, which will be published tomorrow. Keep an eye out!

— Kristen Talman