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FBI Hires Social Media Surveillance Firm Labeling Black Lives Matter Organizers as “Threat Actors”

A new Senate report calls out the FBI for lying to Congress about its social media monitoring, pointing out the FBI’s hiring of ZeroFox.

The post FBI Hired Social Media Surveillance Firm That Labeled Black Lives Matter Organizers “Threat Actors” appeared first on The Intercept.

Business

Saudi Airlines Catering Co. inks $720m agreement with Red Sea Global

RIYADH: A SR2.7 billion ($720 million) deal has been signed which will see Saudi Airlines Catering Co. provide laundry services for hotels at Red Sea Global’s tourist developments. The agreement was announced on the Saudi stock exchange, Tadawul, and SACC expects the deal to start showing up in its profit margin by the third quarter of 2025. The 20-year contract will see SACC operate laundry services for hotels, resorts and other facilities located within the destination.
Business

Saudi Arabia and UAE pledge $6bn for Iraq investment support

RIYADH: Saudi Arabia and the UAE have committed to allocate $6 billion for expanding international trade and investment in Iraq, reported Iraqi News Agency.  On Sunday, the Federation of Iraqi Chambers of Commerce announced that it also agreed to set up business councils of the Kingdom and the UAE in the country.   “The UAE and Saudi Arabia deposited $3 billion each to support their operations in Iraq, which include trade and investment activities,” said FICC President Abdel Razzak Al-Zouhairy.  
Business

PIF Ranks 7th Worldwide and Top in Mideast for High GSR Scores

RIYADH: Saudi Arabia’s Public Investment Fund ranked first in the Middle East region and seventh worldwide among 100 global state-owned funds for scoring high in governance, sustainability and resilience practices, according to the evaluation of the Global Sovereign Wealth Funds. Launched in 2020, the GSR scorecard is driven by an annual review of the best practices of the world’s top 100 funds, focusing on 25 elements — 10 of which are associated to governance and transparency, 10 to sustainability and responsible investing, and five to resilience and legitimacy. 
Business

Saudi Communications Minister strengthens tech partnerships with China

RIYADH: In an effort to boost Saudi-Chinese relations, the Kingdom’s minister of communications and information technology, Abdullah Al-Swaha, began an official visit to China to meet government officials and leaders, the Saudi Press Agency reported.   The minister held meetings with his Chinese counterpart as well as several other officials to enhance partnerships and attract more technological investments into the Kingdom.  
Business

Saudi stock market closes with modest gains as TASI increases by 35 points

RIYADH: On its first trading day after the Eid holidays, Saudi Arabia’s stock market saw a muted performance, with its Tadawul All Share Index rising 34.93 points — or 0.3 percent — to close at 11,493.91 points.   While MSCI Tadawul Index inched up 0.4 percent to 1,516.30 points, the parallel market Nomu fell 4.22 percent to close at 25,043.16.   The total trading turnover of the benchmark index was SR4.56 billion ($1.22 billion) as 143 of the 228 listed stocks advanced, while 60 retreated.  
Business

Iraq’s June oil revenues exceed $7 billion

RIYADH: The Iraqi Ministry of Oil announced on Saturday that oil export revenues during June exceeded $7 billion.    According to the State Organization for Marketing of Oil, the total exports of crude during June were nearly 100.06 million barrels, with revenues amounting to $7.11 billion.    SOMO data revealed that the total quantities of crude exported during June from oil fields in central and southern Iraq were 98.72 million barrels.     Oil exports from the Al-Qayyarah oil field in Nineveh governorate in northern Iraq were 1.03 million barrels.   
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