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Saudi Arabia’s Hajj Boost for Travel and Hospitality Sectors

DUBAI: Three years after the COVID-19 pandemic forced Saudi Arabia to impose strict travel restrictions, this year’s Hajj has given a palpable boost to the regional economy, with an estimated 1.6 million Muslims from around the world converging on Islam’s holiest sites. The annual pilgrimage began on Sunday with the ritual of Tawaf Al-Qudum, when pilgrims dressed in white robes walk in a circle around the Kaaba, the stone structure at the center of Masjid Al-Haram, or the Grand Mosque, the most important mosque and holiest site in Islam.
Business

Crude Oil Stabilizes Amid Fuel Demand Worries and Weak China Data

RIYADH: Oil prices steadied on Thursday, a day after rising sharply on a bigger-than-expected fall in US inventories, as attention shifted back to rising interest rates denting global economic growth.  Brent crude futures was up 37 cents, or 0.50 percent, to $74.40 a barrel by 02:41 p.m. Saudi time, while US West Texas Intermediate crude futures rose 39 cents, or 0.56 percent, to $69.95 a barrel.
Deconstructed Podcast

Newly Released NIH Emails: Uncovering Covid’s Origin Secrets

A conversation on the ongoing battle to expose the origins of the Covid-19 pandemic.

The post New NIH Emails Released: What Are Officials Trying to Hide About Covid’s Origins? appeared first on The Intercept.

Business

Crude Oil Updates: Monthly Gain Expected as Supply Tightens

HOUSTON: Oil prices edged higher on Friday with Brent poised for its first monthly gain this year, as a big drawdown in US oil stocks outweighed concerns that fuel demand will be dented further by more interest rate hikes, according to Reuters. Brent crude futures for September delivery rose 16 cents or 0.2 percent to stand at $74.67 as of 7:05 a.m. Saudi time. The less-traded front month contract, which expires on Friday, was up 30 cents at $74.64. US West Texas Intermediate crude gained 8 cents or 0.1 percent to $69.95.
Business

Egypt’s Petroleum Ministry launches digital platform for sector investments

RIYADH: Egypt’s petroleum sector is on track to prosper thanks to a new service that will make it easier for investors to spot opportunities in the country. Launched by the Ministry of Petroleum and Mineral Resources, the Upstream Gateway digital platform aims to market petroleum areas globally, according to a statement. It will also provide the geological data required by current and potential investors and promote bids in the North African country’s oil and gas exploration field.
sport

Women Cricketers Demand Better Pay and Equal Rights

It would be a surprise if any of the spectators at Trent Bridge, Nottingham, were not highly impressed by the quality of cricket played by the women chosen to represent England and Australia over five days between June 22 and 26. Women’s cricket has taken a long time to emerge from the shadows of the men’s game. After this match, any lingering doubts about its quality and appeal have surely been dispelled.
Business

Sound Energy secures $237m financing for Moroccan gas project in the UK

RIYADH: A natural gas project in east Morocco will soon be completed thanks to a new finance push from the largest bank in the North African country. UK-based Sound Energy has received a conditional offer from Attijariwafa Bank to obtain funding amounting to 2.3 billion Moroccan dirhams ($237 million) for the Tendrara-based project’s second phase, according to a statement. The funding will be allocated for completing drilling, operating wells, and building a pipeline to transport natural gas to the state’s National Office of Electricity and Drinking Water.
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The post AIPAC’s Next Top Target? Rep. Jamaal Bowman appeared first on The Intercept.

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