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Russia’s Climate Commitments Fully Met, Says Putin

ST. PETERSBURG: Russia, unlike other countries, fully complies with its climate commitments and is even ahead of schedule, Russian President Vladimir Putin has told the UAE President Sheikh Mohammed bin Zayed Al-Nahyan. “Unlike many other countries, we fully fulfill all our obligations in this area. Even with a certain advance,” Putin said during an inspection of a stand at the St. Petersburg International Economic Forum dedicated to the upcoming UN climate summit in the UAE.
sport

Michael Jordan selling majority stake in Charlotte Hornets NBA team.

NEW YORK: Basketball legend Michael Jordan has agreed to sell his majority stake in the NBA’s Charlotte Hornets to an investment consortium, the team announced Friday. The buyer group is led by Gabe Plotkin, chief investment officer at Tallwoods Capital LLC and Rick Schnall, co-president of private equity firm Clayton, Dubilier & Rice. The group also includes musicians J. Cole and Eric Church, said a press release from Hornets Sports & Entertainment that did not disclose financial terms.
sport

Manchester United in talks to grant exclusivity to Qatari Sheikh for $6B+ sale – sources

LONDON: English football club Manchester United is negotiating granting exclusivity to the consortium led by Qatar’s Sheikh Jassim bin Hamad Al-Thani in talks to sell itself for more than $6 billion, people familiar with the matter said on Thursday. While a deal remains uncertain, the development represents a major milestone in the efforts of Sheikh Jassim — the son of Qatar’s former prime minister who is one of the richest men in the Gulf state — to take over the iconic sports brand.
sport

“FIFA Forms Anti-Racism Taskforce with Vinicius as Member”

BARCELONA: FIFA will create an anti-racism taskforce in which Real Madrid forward Vinicius Junior will have a “prominent role,” the world football governing body said Thursday. Real Madrid winger Vinicius was racially abused by Valencia fans in May in an incident which provoked worldwide outrage, and has been the victim of multiple instances of racism during his time in Spain.
Business

Saudi Main Index Dips, Parallel Market Soars at Closing Bell

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped slightly on Thursday as it shed 16.89 points, or 0.15 percent, to close at 11,516.14. The total trading turnover of the benchmark index was SR9.25 billion ($2.47 billion), as 89 stocks advanced, while 116 retracted. The Kingdom’s parallel equity market, Nomu, continued its spectacular performance for the third consecutive day as it soared 2,048.72 points, or 8.21 percent, to reach 26,977.60. The MSCI Tadawul Index, however, dropped 0.05 percent to close at 1,518.74.
sport

“DP World ILT20 Season 1: A Popular Choice for Cricket Fans”

Dubai: The inaugural edition of the UAE’s DP World ILT20 cricket league made great waves around the world as the Gulf Giants lifted the glittering trophy in the Feb. 12 final at the Dubai International Stadium. The tournament decider was played in front of a packed stadium as the James Vince-led Giants made history by becoming the first-ever champions of the UAE’s T20 league.
Business

Saudi Arabia’s NDMC Concludes $667m Sukuk Issuance in June

RIYADH: Saudi Arabia’s National Debt Management Center announced the closure of the riyal-denominated sukuk program issuance for June with the total bid amount received at SR2.5 billion ($667 million).    The total amount allocated was SR7.43 billion with the sukuk issuance divided into tranches — the first has a size of SR622 million maturing in 2030. The second tranche was valued at SR1.84 billion million maturing in 2035, the NDMC said in a statement   Also called an Islamic bond, sukuk is a debt product issued according to Shariah or Islamic laws.    
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