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China’s industrial profits decline, worsening economic gloom

BEIJING: Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery.  The 18.8 percent year-on-year slump in profits came on top of the 20.6 percent contraction in January-April, and added to evidence of an economy that was losing steam on many fronts in May including retail sales, exports and property investment as the youth jobless rate scaled a fresh high of 20.8 percent. 
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CIA Arms Dealer Targeted by DEA

He thought he was a CIA arms dealer, but the DEA ran an entrapment sting operation.

The post CIA Arms Dealer Was Actually DEA Target appeared first on The Intercept.

sport

Italy vows to eradicate racism and anti-Semitism in football arenas

ROME: Italy signed on Tuesday a letter of intent aimed at eradicating anti-Semitism from soccer stadiums across the country. Instances of racism and anti-Semitism are commonplace in Italian stadiums, with fans regularly booing or shouting abuse at Black players, using the word “Jew” as an insult and displaying Nazi or fascist symbols.
Business

“World Bank Offers Repayment Pause to Nations in Crisis”

PARIS: The head of the World Bank said Thursday that the lender planned to introduce a “pause” mechanism for debtor countries in the event of them being hit by a crisis. Ajay Banga told a summit on financing the fight against climate change that the multilateral lender would adopt a new approach that “significantly expands the World Bank’s toolkit.” The most important measure would be offering “a pause on debt repayments so countries can focus on what matters when a crisis hits and stop worrying about the bill that is going come,” he added.
News

“India’s Political Prisoners Forgotten as D.C. Honors Narendra Modi”

The Biden administration has ignored India’s rights violations in favor of weapons sales and geopolitical expediency.

The post As D.C. Fêtes Narendra Modi, His Political Prisoners in India Are Forgotten appeared first on The Intercept.

Business

Saudi main index ends week in red before Eid holidays

RIYADH: Saudi Arabia’s Tadawul All Share Index ended its trading on Thursday in the red, as it shed 7.19 points, or 0.06 percent, to close at 11,458.98.   The exchange will remain closed from June 23 as a part of the Eid Al-Adha holidays and trading will resume on July 2.   The total trading turnover of the benchmark index was SR6.33 billion ($1.69 billion) as 95 stocks advanced, while 124 retracted.   While the parallel market Nomu dropped by 1,118.48 points to close at 26,147.86, the MSCI Tadawul Index dipped slightly to end the day at 1,510.25.  
sport

“Rose Zhang aims for major win at Women’s PGA Championship after successful pro debut”

SPRINGFIELD, N.J.: After stunning women’s golf by winning in her first event as professional, Rose Zhang will try to take the next big step when she goes for her first major victory in the Women’s PGA Championship at Baltusrol. And it’s been just a month in the making for the 20-year-old Californian, who many believed was going to be the next big celebrity in her sport, similar to when Annika Sorenstam and Lorena Ochoa returned in a two-year span ending in 2010.
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Intense fighting in northern Gaza as aid arrives at US pier | TOME

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Intense fighting in northern Gaza as aid arrives at US pier | TOME

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Can Gandhi family survive Modi in India’s biggest election prize?

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The pocket boroughs of Amethi and Rae Bareli have stood by the first family of Indian politics through ups and downs.

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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.

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