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Business

“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

Turkey seeks to host football Euros following Champions League final

GENEVA: Turkiye’s quest to host the men’s European Championship is among the great unfulfilled goals in world soccer. Having newly re-elected state President Recep Tayyip Erdoğan sit next to UEFA leader Aleksander Čeferin at the Champions League final in Istanbul on Saturday should only help before Turkiye’s next two tournament bids are put to votes on Oct. 10.
Business

Riyadh Air, owned by PIF, reveals livery before Paris Air Show debut

RIYADH: The latest player in the global aviation industry, Riyadh Air, made an appearance with its remarkable livery at the King Khaled International Airport in the Saudi capital on Monday. A Boeing 787-9 Dreamliner painted aircraft flew at low altitude over several notable landmarks in the Riyadh skyline, including King Abdullah Financial District, Boulevard City, and some of the iconic main towers, thrilling residents with a glimpse of the Public Investment Fund-owned airline ahead of its public debut at the 54th Paris Air Show on June 19.
sport

“Nick Taylor: First Canadian Champion Since 1954 Wins Canadian Open in Playoff”

TORONTO: Nick Taylor became the first Canadian in 69 years to win his national open, holing a 72-foot eagle putt on the fourth playoff hole to beat Tommy Fleetwood in the RBC Canadian Open on Sunday. Taylor tossed his putter into the air and jumped into the arms of his caddie after the longest made putt of his PGA Tour career, and fellow Canadian players Mike Weir, Corey Conners and Adam Hadwin were among those who ran out to the green to congratulate him.
sport

“Iga Swiatek Wins 3rd French Open Title and 4th Slam by Defeating Karolina Muchova”

PARIS: Iga Swiatek suddenly seemed lost in the French Open final. Her strokes were awry. Her confidence was gone. Her big early lead vanished, too. She kept looking up into the stands, seeking guidance from her coach and her sports psychologist. So much was amiss right up until she was two games from defeat against unseeded Karolina Muchova on Saturday. And then, when she needed to most, Swiatek transformed back into, well, Swiatek. The No. 1 player in women’s tennis for more than a year. The defending champion at Roland Garros. Aggressive. Decisive. Full of clarity.
Business

Saudi main index closes higher

RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward trend for the second consecutive day, as reigning oil prices raised investor confidence.  On Monday, the benchmark index gained 71.63 points or 0.64 percent to close at 11,293.59.  The total trading turnover of the benchmark index was SR6.38 billion ($1.70 billion) as 125 listed stocks advanced, while 75 retreated. 
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.  
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