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Saudi benchmark index closes at 11,420 with 95-point drop

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Monday, as it shed 95.19 points, or 0.83 percent, to close at 11,421.70.   The upward movement of the Kingdom’s parallel equity market, Nomu, also came to an end after four days as it dipped 2.81 percent or 813.22 points, to close at 28,174.84.   The MSCI Tadawul Index also dropped 0.71 percent to close at 1,508.36.  The total trading turnover of the benchmark index was SR6.07 billion ($1.62 billion), as 32 stocks advanced, while 188 retracted.  
sport

Khawaja scores maiden Test century in England, leads Australia’s comeback on Day 2 of Ashes opener

BIRMINGHAM, England: Opener Usman Khawaja raced away in delight and threw his bat high in the air after scoring his first Test century in England as Australia made 311-5 on day two of the Ashes at Edgbaston on Saturday. Australia’s deficit was down to 82 runs after Khawaja revived Australia’s fortunes with an unbeaten 126. He had excellent support in consecutive half-century partnerships with Travis Head (50), Cameron Green (38) and Alex Carey (52 not out).
Business

Saudi Property Market Performs Well in Q1 Due to Limited Supply: CBRE

RIYADH: Demand for offices remained strong in Saudi Arabia in the first quarter of 2023 as global and local businesses continued to scout for quality spaces in the key cities despite limited supply in the market, the latest report from global consultancy firm CBRE showed.   Most of the offices in Riyadh witnessed nearly 100 percent occupancy, resulting in Grade A and Grade B properties recording a year-on-year rise in average rental rates of 9.3 percent and 14 percent, respectively, in the first quarter.  
Deconstructed Podcast

“Former Aide to Joe Manchin, Scott Sears, Shares Insights in Conversation”

How seriously is Manchin considering a presidential run?

The post A Conversation With Joe Manchin’s Former Right Hand, Scott Sears appeared first on The Intercept.

Business

Oil Prices Set to Rise on Optimistic China Demand

NEW YORK/SINGAPORE: Oil prices were set to snap a two-week losing streak despite trading marginally lower early on Friday, amid optimism about higher energy demand from top crude importer China and a weaker dollar, according to Reuters. Brent futures dipped 17 cents, or 0.2 percent, to $75.50 a barrel by 6:41 a.m. Saudi time, while US West Texas Intermediate crude dropped 16 cents, also 0.2 percent, to $70.46 a barrel. Both benchmarks surged about 3 percent during the prior session.
Business

Saudi Main Index Dips, Parallel Market Soars at Closing Bell

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped slightly on Thursday as it shed 16.89 points, or 0.15 percent, to close at 11,516.14. The total trading turnover of the benchmark index was SR9.25 billion ($2.47 billion), as 89 stocks advanced, while 116 retracted. The Kingdom’s parallel equity market, Nomu, continued its spectacular performance for the third consecutive day as it soared 2,048.72 points, or 8.21 percent, to reach 26,977.60. The MSCI Tadawul Index, however, dropped 0.05 percent to close at 1,518.74.
Business

Crude Oil Prices Drop 1% Prior to US Fed Rate Decision

RIYADH: Oil prices declined on Monday ahead of a US Federal Reserve meeting as investors tried to gauge the central bank’s appetite for further rate hikes, while concerns about China’s fuel demand growth and rising Russian crude supply weighed on the market.  Brent crude futures fell 89 cents, or 1.19 percent, to $73.90 a barrel by 9:23 a.m. Saudi time. US West Texas Intermediate crude was at $69.33 a barrel, also down 1.20 percent. 
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€1bn EU ‘bribe’ for Syrian refugees angers Lebanon

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BEIRUT: Lebanon’s Prime Minister Najib Mikati on Friday vowed to step up deportations as part of a crackdown on illegal residents in the country. “This matter is not up for debate, and orders have been given to the relevant authorities to implement what is necessary,” he said. Mikati’s comments came after the EU on Thursday announced a €1 billion ($1.07 billion) aid package for Lebanon, mostly to boost border control in a bid to curb refugee flows across the Mediterranean Sea to Cyprus and Italy. Lebanon hosts more than 1.5 million Syrian refugees.

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Texas Pro-Palestine University Protesters Clash with State Leaders

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Texas, one of the most conservative US states, has implemented laws limiting the ability to protest against Israel.

€1bn EU ‘bribe’ for Syrian refugees angers Lebanon

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BEIRUT: Lebanon’s Prime Minister Najib Mikati on Friday vowed to step up deportations as part of a crackdown on illegal residents in the country. “This matter is not up for debate, and orders have been given to the relevant authorities to implement what is necessary,” he said. Mikati’s comments came after the EU on Thursday announced a €1 billion ($1.07 billion) aid package for Lebanon, mostly to boost border control in a bid to curb refugee flows across the Mediterranean Sea to Cyprus and Italy. Lebanon hosts more than 1.5 million Syrian refugees.

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KFC Malaysia closes outlets amid Gaza boycott

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