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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.
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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.
Business

“Bharat Petroleum of India to Raise $2.19bn for Green Energy Expansion”

RIYADH: State-owned oil marketing company Bharat Petroleum said on Wednesday it approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares on a rights basis, underscoring India’s push to achieve net-zero emissions goals. The details of the issue, including the price, right entitlement and timing, will be intimated separately after the board approval, it said in an exchange filing. Last week, the company said the funds would be used to achieve “energy transition, net zero and energy security objectives.”
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Top NBA Free Agency Players to Watch: Draymond Green, Kyrie Irving

NEW YORK: Some of the players to watch in NBA free agency, which starts Friday evening: Kyrie Irving, Dallas This one will be interesting. Irving is one of the best players in the NBA. He also tends to be a challenge, and evidently got unhappy over time at his previous stops — Cleveland, Boston and Brooklyn. It seems unlikely that Irving will want a short-term deal, but there aren’t many teams that can afford him, either Fred VanVleet, Toronto
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.
sport

Arsenal leads Man City in race for transfer target Declan Rice

MANCHESTER, England: In an offseason when Lionel Messi and Karim Benzema have already made moves, Declan Rice is turning into one of the biggest stories of the transfer window. Arsenal appears to be closing in on a deal worth up to a reported 105 million pounds ($133 million) for the England international, who has been linked with many of Europe’s biggest clubs. Manchester City, which has also targeted the West Ham midfielder, is not prepared to match that figure, according to a person with knowledge of the Premier League champion’s transfer plans.
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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UN reports 3 million displaced in Myanmar conflict

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United Nations says the number displaced has jumped by 50 percent in last six months as fighting has intensified.

US finishes Gaza aid pier construction

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WASHINGTON: The US military has completed construction of its Gaza aid pier, but weather conditions mean it is currently unsafe to move the two-part facility into place, the Pentagon said Tuesday. The pier — which the US military started building last month and which will cost at least $320 million — is aimed at boosting deliveries of desperately needed humanitarian assistance to Gaza, which has been ravaged by seven months of Israeli operations against Hamas.

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US finishes Gaza aid pier construction

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WASHINGTON: The US military has completed construction of its Gaza aid pier, but weather conditions mean it is currently unsafe to move the two-part facility into place, the Pentagon said Tuesday. The pier — which the US military started building last month and which will cost at least $320 million — is aimed at boosting deliveries of desperately needed humanitarian assistance to Gaza, which has been ravaged by seven months of Israeli operations against Hamas.

Russia-Ukraine War: Key Events, Day 804 | TOME

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As the war enters its 804th day, these are the main developments.

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Boeing delays Starliner capsule launch due to valve issue

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Cancellation of inaugural crewed space mission comes as Boeing is under fire over safety record at its aviation arm.

KFC Malaysia closes outlets amid Gaza boycott

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Franchise operator cites 'challenging economic conditions' amid local reports linking closures to boycotts of Israel.

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