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“China’s May Industrial Output Up by 3.5%”

BEIJING: China’s economy stumbled in May with industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery. The economic rebound seen earlier this year has lost momentum in the second quarter, prompting China’s central bank to cut some key interest rates this week for the first time in nearly a year, with expectations of more to come.
sport

Indian Wrestlers End Protest After Assurances of Swift Probe Against Federation Chief

NEW DELHI: India’s top wrestlers said they had decided to suspend protests on Wednesday after the country’s sports minister promised a swift probe of their federation chief who they accused six months ago of sexually harassing female athletes. The wrestlers have been camping in New Delhi for months since April seeking the arrest of Wrestling Federation of India (WFI) President Brij Bhushan Sharan Singh, who has denied the allegations.
sport

Juventus to Exit Super League Project Amid Legal Turmoil

TURIN, Italy: Juventus plan to leave the Super League project still being pursued by Real Madrid and Barcelona, though the club denied Tuesday they had been threatened with a European ban by UEFA. The three storied clubs are awaiting a ruling expected within weeks from the European Court of Justice in Luxembourg into their legal challenge against what they claimed is UEFA’s monopoly control of European club competitions.
Business

Positive Non-Oil Outlook in UAE Despite Slight PMI Dip in May

RIYADH: The UAE’s non-oil private sector growth outlook remained positive in May, even as the seasonally adjusted S&P Global Purchasing Managers’ Index fell to 55.5 compared to 56.6 in April.   The S&P Global report noted that improved operating conditions drove business confidence to its strongest levels since October 2021.   According to the index, PMI readings above 50 show non-oil private sector growth, while those below 50 signal contraction.  
Business

Saudi Banks’ April Profits Jump 3.4% to $1.55B

RIYADH: The aggregate profit of banks operating in Saudi Arabia increased by 3.4 percent year on year in April to reach SR5.78 billion ($1.55 billion), according to the latest figures released by the Saudi Central Bank, also known as SAMA.  The report, however, noted that the aggregate profits of Saudi banks fell by SR1.65 billion month on month in April. In March, banks in Saudi Arabia reported an aggregate profit of SR7.43 billion. 
Business

Qatar’s April Trade Surplus Reaches $6 Billion

RIYADH: Qatar recorded a trade surplus of 22 billion Qatari riyals ($6 billion) in April 2023, according to a report released by the country’s Planning and Statistics Authority.   The data reflects a 3.5 percent increase over March while a 35.6 percent decline on an annual basis.   The value of merchandise imports during April 2023 also fell 6.3 percent from the previous year and 9.3 percent from the last month to reach an estimated 8.7 billion riyals.  
Business

Jeddah Port’s Islamic Container Volume Soars by 25% in April: Mawani

RIYADH: Improved operational capabilities at Jeddah Islamic Port led to a 25.07 percent surge in container throughput during April, according to a statement released by the General Authority for Ports, also known as Mawani.  The total number of containers handled reached 465,438, up from the 372,064 recorded in April 2022.  This rise came as Mawani further ramped up its infrastructure at Saudi ports while ensuring supply chain reliability.  It also cements the authority’s efforts to facilitate import, export and maritime trade operations. 
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Al-ARISH: A UAE aid convoy entered the Gaza Strip on Wednesday via Egypt’s Rafah Crossing Point as a part of the country’s “Operation Chivalrous Knight 3” project to support the Palestinian people, UAE state news agency WAM reported on Thursday. The 12-truck convoy is transporting over 264 tonnes of humanitarian aid including food, water and dates. The latest convoy now brings to 440 the number of trucks that have been used for support efforts.

Iranian Teen Protester Nika Shakarami Killed by Police

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JEDDAH: Iranian authorities ordered the arrest of activists and journalists on Wednesday after a leaked Revolutionary Guard report revealed that secret police had sexually assaulted and killed a teenage girl during Iran’s “hijab protests” in 2022. Nika Shakarami, 16, died during demonstrations over the death in police custody of Mahsa Amini, who had been detained for wearing her headscarf incorrectly. Shakarami’s death also sparked widespread outrage. Authorities said she died after falling from a tall building, but her mother said the girl had been beaten.

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