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“Soft Dollar Boosts Appeal: Gold Prices Rise”

RIYADH: Gold climbed on Monday after a weaker dollar made bullion more attractive for overseas investors, although prices hovered close to three-month lows as traders assessed prospects of more interest rate hikes by the US Federal Reserve. Spot gold rose 0.3 percent to $1,926.19 per ounce by 8:38 a.m. Saudi time. US gold futures also gained 0.3 percent to $1,936.00. Bullion slumped nearly 2 percent in the previous week as hawkish comments from Fed officials signaled more rate hikes to tame sticky inflation.
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.
Business

Saudi start-up wins Visa award for digital finance

RIYADH: A Riyadh start-up has won top prize in a Visa-sponsored competition that seeks to improve digital shopping. Amwal Tech, which was set up last year, came top in the Saudi heat of the Visa Everywhere Initiative, taking a SR150,000 ($40,000) prize for its all-in-one encrypted transaction and identity app that processes payments quickly and safely. Lamaa, a Saudi financial tech firm, was runner-up with prize money of SR100,000, and also won a separate “social impact award” with a SR50,000 prize. Monak, a “digital lifestyle” company, came third and won SR50,000.
Business

Newcastle United extends noon.com partnership for 2023-24 season

RIYADH: Saudi Arabia’s Public Investment Fund-owned football club Newcastle United has extended its sleeve sponsorship agreement with the e-commerce platform Noon. According to a press release, the logo of Saudi-based Noon will continue to be displayed on the sleeve of Newcastle’s first-team kit across all competitions.  Newcastle United has been owned by a consortium led by Saudi Arabia’s sovereign wealth fund since 2021, with PIF holding 80 percent of the club’s shares, while RB Sports & Media and PCP Capital Partners hold a 10 percent stake each. 
Business

Petrochemical JVs for Energy Security: Saudi Arabia and China

RIYADH: Saudi Arabia and China are collaborating to ensure safe energy supplies in their markets by planning to establish petrochemical joint ventures. Saudi Minister of Energy Abdulaziz Al-Saud held a meeting with the chairman of the National Energy Authority of the Republic of China, Zhang Jianhua, in Riyadh to discuss JVs that will transform crude oil into petrochemicals and develop innovative uses of hydrocarbons, nuclear energy and fuel.  Both nations are working to increase collaboration in the energy sector’s supply chains. 
Business

Saudi Arabia to Extend OPEC+ Voluntary Cut and Reduce Oil Output in July

RIYADH: Saudi Arabia will extend its voluntary cut of 500,000 bpd until the end of December 2024, in coordination with some countries participating in the OPEC+ agreement, the Kingdom’s energy ministry said on Sunday. This voluntary reduction from the required production level was agreed upon at the OPEC+ meeting held on Sunday, the ministry added. The ministry also announced an additional voluntary oil output cut of 1 million bpd for July, which could be extended further.
sport

Iniesta to Depart Vissel Kobe, Continues Playing Career

KOBE: Andres Iniesta, who won the World Cup with Spain in 2010, and four Champions League titles and nine La Liga championships with Barcelona, is leaving Japanese club Vissel Kobe. Iniesta brushed back tears Thursday as he announced he was leaving and indicated he planned to keep playing, but did not say where. Asked where he might play, he replied: “I don't know.”
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Columbia University leaders under scrutiny for anti-Semitism | TOME

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Columbia President Nemat Shafik sought to avoid the outrage that erupted after a previous congressional hearing.

White House Opposes Palestinian Statehood Revealed

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Despite Biden’s pledge to support a two-state solution, cables argue that Palestine should not be granted U.N. member status.

The post Leaked Cables Show White House Opposes Palestinian Statehood appeared first on The Intercept.

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Columbia University leaders under scrutiny for anti-Semitism | TOME

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Columbia President Nemat Shafik sought to avoid the outrage that erupted after a previous congressional hearing.

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Apple invests in Vietnam as Tim Cook visits Hanoi

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Apple CEO is expected to meet programmers, students and content creators during two-day visit.

Singapore Economy Grows 2.7% Below Forecasts | TOME

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City-state's performance is closely watched as a barometer of global economic conditions.

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