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“DeSantis Appointee Organizes Fundraiser in The Villages”

The $13,200-per-couple fundraiser yet again blends official state business and corporate influence with Ron DeSantis’s presidential campaign.

The post DeSantis State Government Appointee Holds DeSantis Fundraiser in The Villages appeared first on The Intercept.

Business

UAE’s ADNOC Distribution Signs Deal with India’s HPCL

RIYADH: In a bid to expand its lubricant and allied products business in India, UAE’s ADNOC Distribution has inked a deal with Hindustan Petroleum Corp. Ltd.   HPCL is one of the largest lubricant marketers and fuel retailing companies in India, and with this deal ADNOC Distribution aims to tap into Asia’s second-largest economy, which has an annual demand of 3 billion liters of lubricants.   The deal will also give ADNOC access to a vast network of over 28,000 retail stations in the country, news agency WAM reported.  
Business

China’s industrial profits decline, worsening economic gloom

BEIJING: Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery.  The 18.8 percent year-on-year slump in profits came on top of the 20.6 percent contraction in January-April, and added to evidence of an economy that was losing steam on many fronts in May including retail sales, exports and property investment as the youth jobless rate scaled a fresh high of 20.8 percent. 
Business

VMS, Saudi Venture Studio, Acquires Stakes in Egypt’s Cash Cows

RIYADH: The startup ecosystem in the Middle East and North Africa region is poised to get a boost as Saudi Arabia-based venture studio VMS has acquired minority stakes in Egyptian startup accelerator Cash Cows.   The purchase of stakes is part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries and in the wider MENA region, according to a press release.  
Business

Survey shows US oil and gas production slowing amidst high demand

RIYADH: Driven by a fall in crude and commodities pricing, oil and gas production in the US is decelerating at a time when demand is showing signs of recovery, research by the Federal Reserve Bank of Dallas has shown. The survey posted a score of zero for business activity growth in the second quarter of 2023 among 150 oil and gas groups in its region, the lowest since 2020 when oil prices crashed due to the pandemic, ultimately forcing operators to close rigs and cut headcounts. 
News

“U.S. Chamber of Commerce Hosts Michael Morell as Keynote Speaker at Major Event”

Morell, Donald Trump’s “deep state” enemy No. 1, spoke at a Chamber of Commerce event Monday, highlighting the strange gulf between the K Street titan and the GOP.

The post U.S. Chamber of Commerce Invites Trump Bête Noire Michael Morell to Speak at Major Gathering appeared first on The Intercept.

Business

SPARK and Hutchison Ports team up for dry port and logistics zone operation.

RIYADH: King Salman Energy Park, also known as SPARK, will soon have access to improved logistical services and solutions thanks to a new agreement.   SPARK and Hong Kong-based firm Hutchison Ports have signed a concession agreement to manage and operate the dry ports and logistics area of the largest global center for power plants in Saudi Arabia.   This move falls in line with the objectives of the Saudi Vision 2030 in transforming the Kingdom into a global logistics hub. 
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Jofra Archer, Will Jacks in England’s T20 World Cup 2024 Squad

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Holders England have also named slow left-hander Tom Hartley and big-hitting batter Will Jacks in their 15-man squad.

Blinken heads to Jordan for Gaza aid push

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RIYADH: US Secretary of State Antony Blinken headed Tuesday to Jordan where he will discuss ways to boost aid deliveries into Gaza and quietly thank the kingdom for its help during recent Iran-Israel clashes. Blinken flew to Amman after talks with Gulf Arab leaders in Riyadh, part of his seventh tour of the region since the October 7 attack by Hamas on Israel. The US top diplomat will meet Jordan’s King Abdullah II and Foreign Minister Ayman Safadi as well as the UN humanitarian aid and reconstruction coordinator for Gaza, Sigrid Kaag.

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Al-Qaeda explosion kills 6 troops in Yemen

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SANAA, Yemen: An explosive device detonated and killed six troops loyal to a United Arab Emirates-backed secessionist group Monday in southern Yemen, a military spokesman said, the latest attack blamed on Al-Qaeda militants in the impoverished Arab country. The explosion hit a military vehicle as it passed in a mountainous area in the Modiyah district of southern Abyan province, said Mohamed Al-Naqib, a spokesman for the Southern Armed Forces, the military arm of the secessionist Southern Transitional Council. Eleven other troops were wounded, he added.

Women on China’s Instagram discuss routine and taboo topics | TOME

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IMF to release $1.1bn loan to Pakistan after key meeting

Economy 0
Pakistan seeks another long-term IMF programme to support its ailing economy but experts say focus must be on reforms.

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Economy 0
Xiaohongshu has become the go-to platform for young women to discuss everything from fashion to domestic violence.

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