Translation:

29. That the People of the Book may know that they have no power whatever over the Grace of Allah that (His) Grace is (entirely) in his hand to bestow it on whomsoever He wills. For Allah is the Lord of Grace abounding.

Notes (Tafseer)

5329. Let not any race, or people, or community, or group, believe that they have exclusive possession of Allah's Grace, or that they can influence its grant or its withholding. Allah's Grace is free, and entirely controlled by Him, independently of any priests and priviledged people. He dispenses it according to His own wise and holy Will and Plan; and to His Grace there is no limit. It is up to Him to bestow His Grace upon whom He likes. The Qur-an is the final revelation in which He said: "ye are the best Ummah brought forward to mankind." So in order to receive His Grace, one should submit to Islam.