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Aramco and TotalEnergies Award $11 Billion Amiral Project Contracts

DHAHRAN, Saudi Arabia: Aramco and TotalEnergies have awarded engineering, procurement and construction contracts for the $11 billion Amiral complex, a future world-scale petrochemicals facility expansion at the Kingdom’s SATORP refinery. A signing ceremony took place in Dhahran attended by Amin H. Nasser, Aramco president and CEO, and Patrick Pouyanne, TotalEnergies chairman and CEO.
sport

Prince Fahd bin Jalawi elected president of Asian Triathlon Federation

The 31st General Assembly of the Asian Triathlon Confederation unanimously elected Prince Fahd bin Jalawi bin Abdulaziz bin Musaed as president for the next four years, the second Saudi sports figure to head the continental Olympic sports federation. The announcement came during the meeting of the General Assembly, which was held on June 23 in Tokyo in the presence of Eng. Ali Maqbool, president of the Saudi Triathlon Federation, and Joud Jamjoom, his deputy, along with 34 heads from Asia Triathlon’s national federations.
Business

Egypt’s Central Bank Maintains Stable Interest Rates

CAIRO: The Central Bank of Egypt (CBE) kept its key overnight interest rates unchanged on Thursday, saying commodity prices appear to be falling and economic growth is likely to recover in the fiscal year that begins next week. As expected, the bank’s Monetary Policy Committee (MPC) left the lending rate steady at 19.25 percent and the deposit rate at 18.25 percent. Not one of 17 analysts polled by Reuters on Monday had forecast a change.
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

UAE Central Bank Predicts 4.3% Growth for Emirates in 2024

RIYADH: A rebound in oil and non-oil activities is expected to help the UAE maintain its projected growth rate of 4.3 percent in 2024, the latest quarterly report from the apex bank showed.     In its economic review report for the first quarter, the Central Bank of the UAE forecast the country’s oil and non-oil gross domestic product in 2024 will grow at 3.5 percent and 4.6 percent, respectively.
sport

Saudi Athlete Donates Rio 2016 Outfit to Olympic Museum

JEDDAH: Saudi Olympic athlete Kariman Abuljadayel has donated her Rio 2016 Olympic running attire to the International Olympic Committee to be a part of the Olympic Museum in Switzerland. In 2016, Abuljadayel was the first Saudi woman athlete in history to take part in the Olympic 100 meters sprint competition in Rio de Janeiro. She has now turned her attention to rowing.
Business

TASI Market Cap Reaches $2.9tn with Strong Fundamentals: S&P

RIYADH: The market capitalization of the Tadawul All Share Index surged to over $2.9 trillion in June, up from $420 million in 2015, according to a report by S&P Global Ratings.   The firm suggested that the increase indicates solid economic fundamentals and positive investor sentiment in Saudi Arabia. Tadawul and the Capital Market Authority have launched several initiatives to expand the capital market in recent years as the Kingdom seeks to diversify its economy in line with the Vision 2030 initiative. 
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Sudan paramilitaries to open ‘safe passages’ out of Darfur city

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PORT SUDAN: Sudan’s paramilitary Rapid Support Forces have announced their willingness to open “safe passages” out of the former haven city of El-Fasher in Darfur, which has been gripped by fighting for weeks. The RSF, battling the regular army for more than a year, affirmed in a post on X late Friday “the readiness of its forces to help citizens by opening safe passages to voluntarily leave to other areas of their choosing and to provide protection for them.”

State Department: Israel Not Blocking Aid, Contrary Videos | TOME

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From targeting humanitarian vehicles to standing by as mobs attack trucks, Israel is blocking aid from reaching Gaza.

The post The State Department Says Israel Isn’t Blocking Aid. Videos Show the Opposite. appeared first on The Intercept.

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Hezbollah’s New Weapons in Israel Attacks

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BEIRUT: Lebanon’s powerful armed group Hezbollah announced on Thursday it had used a drone capable of firing rockets at a military position in one of its latest attacks in northern Israel. Israel and Hezbollah have been involved in near-daily exchanges of fire since the war between Israel and Hamas broke out on October 7. Hezbollah announced it had used an “armed attack drone” equipped with two S-5 rockets on a military position in Metula in northern Israel.

Medical Workers Evacuated from Gaza, 3 Americans Refuse to Leave

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Remaining health care workers won’t go until Israel stops blocking entry of new medical personnel.

The post Medical Workers Evacuated From Gaza, but 3 Americans Refuse to Leave appeared first on The Intercept.

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Cambodia launches $36.6bn building drive, China and Japan vie for spoils

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Cambodian Prime Minister Hun Manet has unveiled a 174-project master plan that has attracted bids by rival powers.

Olympic Athletes’ Financial Hurdles | TOME

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Full-time training, travel to compete, medical and most other costs for these athletes are out of pocket.

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