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World Bank Whistleblower Reveals Child Sex Abuse Cover-Up at For-Profit School Chain

Top World Bank officials schemed with the founders of Bridge International Academies, which was backed by the bank’s finance arm.

The post World Bank Whistleblower Exposes Cover Up of Child Sex Abuse at For-Profit School Chain appeared first on The Intercept.

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. 
Business

New Electrical Transmission Line Connects Afar, Saudi Arabia to Yusufiya, Iraq

DUBAI: Aiming to step up energy security and usher in a new era in regional cooperation, Prince Saud bin Nayef bin Abdulaziz, the governor of the Eastern Province, inaugurated an electrical interconnection project between the Gulf Cooperation Council Interconnection Authority and Iraq. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the connection was a dream turned reality, in an interview with Al-Arabiya. He said this landmark deal could achieve tangible economic benefits and enhance energy security.
Business

Crude Oil Slides as UK Rate Hike Sparks Demand Concerns

RIYADH: Oil prices fell for a second straight session and were headed for a weekly decline of more than 3 percent on Friday, as a higher-than-expected interest rate hike in Britain and warnings about looming rate rises in the US ignited concerns over demand, according to Reuters. Brent futures slipped 51 cents, or 0.4 percent, to $73.76 a barrel, while US West Texas Intermediate crude futures were down 42 cents, or 0.6 percent, at $69.09 at 3:40 a.m. Saudi time. 
Business

Egyptian Health Tech to Save Saudi Lives After Acquisition

CAIRO: Saudi Arabia’s health care sector has gained a new entrant from Egypt aimed at addressing the challenges posed by delayed medical reports and improving patient outcomes.  Founded in 2017, Rology has secured its position in the Saudi market after sealing the acquisition of its counterpart Arkan United.  In an interview with Arab News, Amr Abodriaa, CEO and co-founder of Rology, expressed the significance of this move in establishing a leading position in the Saudi market. 
National Security

“Pentagon’s Secret Service Monitors Social Media for Negative Tweets About Generals”

An unredacted document shows the Protective Services Battalion uses sophisticated surveillance tools that can pinpoint anyone’s location.

The post Pentagon’s Secret Service Trawls Social Media for Mean Tweets About Generals appeared first on The Intercept.

Business

“Oman’s Inflation Rate Drops to 1.1% in April, Lowest Since March 2021”

RIYADH: Decelerating food prices drove Oman’s inflation levels to a 10-month low of 1.1 percent in April, according to the country’s National Center of Statistics and Information.  The 19-month low of food inflation — which stood at 2.7 percent in April as opposed to 4.1 percent in March — was mainly attributed to lower vegetable prices.  The statistics authority stated change in food costs came following a 1.6 percent annual hike recorded in March. 
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Spain prosecutor seeks dismissal of corruption case against Sanchez’s wife

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Group behind alleged influence peddling and business corruption complaint says case solely based on media reports.

Lebanon Postpones Local Elections Due to Violence in South | TOME

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BEIRUT: Lebanon’s parliament on Thursday delayed municipal elections for a third time in two years, state media reported, as militants in the country’s south exchanged near-daily fire with Israel for over six months. The powerful Iran-backed Hezbollah group has been trading fire with Israeli forces across the border since the day after its Palestinian ally Hamas carried out a deadly attack on Israel on October 7, triggering the ongoing war in the Gaza Strip.

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Morocco aims to become aircraft manufacturing hub amid high demand

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CASABLANCA, Morocco:  Moroccan officials want to turn the country into an aviation hub, luring investors aiming to spread out their supply chains to more nations with available and affordable workers.

Israeli protesters express outrage over captive video release

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Protests outside the prime minister’s residence broken up by police after a new video was released of a captive in Gaza.

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China concerned over EU raids on security equipment company

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Diplomatic mission condemns raids on Dutch and Polish offices of Chinese company Nuctech.

Solomon Islands Support for US Agency’s Return Revealed

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Peace Corps found 'overwhelming support and enthusiasm' for return to Pacific island nation, report shows.

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