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Saudi Airlines Catering Co. inks $720m agreement with Red Sea Global

RIYADH: A SR2.7 billion ($720 million) deal has been signed which will see Saudi Airlines Catering Co. provide laundry services for hotels at Red Sea Global’s tourist developments. The agreement was announced on the Saudi stock exchange, Tadawul, and SACC expects the deal to start showing up in its profit margin by the third quarter of 2025. The 20-year contract will see SACC operate laundry services for hotels, resorts and other facilities located within the destination.
Business

ACWA Power announces 2 million share buyback and 8.3% dividend for 2022

RIYADH: Shareholders of Saudi energy firm ACWA Power have approved the buyback of 2 million shares. The decision was taken during the extraordinary general meeting held on June 22. According to the company’s disclosure to the Saudi Stock Exchange, the shares will be utilized in the employee stock incentive program. In addition, the buyback is to be financed from the firm’s resources, ACWA Power revealed. The board of directors will complete the buyback within 12 months from the EGM date.
Business

PIF Ranks 7th Worldwide and Top in Mideast for High GSR Scores

RIYADH: Saudi Arabia’s Public Investment Fund ranked first in the Middle East region and seventh worldwide among 100 global state-owned funds for scoring high in governance, sustainability and resilience practices, according to the evaluation of the Global Sovereign Wealth Funds. Launched in 2020, the GSR scorecard is driven by an annual review of the best practices of the world’s top 100 funds, focusing on 25 elements — 10 of which are associated to governance and transparency, 10 to sustainability and responsible investing, and five to resilience and legitimacy. 
sport

Liverpool signs Szoboszlai from Leipzig in midfield overhaul by Klopp

MANCHESTER: Liverpool continued its midfield overhaul with the signing of Dominik Szoboszlai from Leipzig on Sunday. The Hungary international cost £60 million ($76 million) after Liverpool triggered his release clause. He has agreed a five-year contract subject to him being granted a work permit to play in the UK “For me it was perfect to make the next step in a club like this. The fans, the stadium, everything is really good,” Szoboszlai said.
sport

“Gooch’s Birdie on Final Hole Secures 3rd LIV Golf Title, Defeating DeChambeau”

SOTOGRANDE, Spain: Talor Gooch won his third LIV Golf League title of the year on Sunday when he made a curling 15-foot birdie putt on the 18th hole at Valderrama for a 4-under 67 and a one-shot victory over Bryson DeChambeau.
Business

Saudi stock market closes with modest gains as TASI increases by 35 points

RIYADH: On its first trading day after the Eid holidays, Saudi Arabia’s stock market saw a muted performance, with its Tadawul All Share Index rising 34.93 points — or 0.3 percent — to close at 11,493.91 points.   While MSCI Tadawul Index inched up 0.4 percent to 1,516.30 points, the parallel market Nomu fell 4.22 percent to close at 25,043.16.   The total trading turnover of the benchmark index was SR4.56 billion ($1.22 billion) as 143 of the 228 listed stocks advanced, while 60 retreated.  
Business

Iraq’s June oil revenues exceed $7 billion

RIYADH: The Iraqi Ministry of Oil announced on Saturday that oil export revenues during June exceeded $7 billion.    According to the State Organization for Marketing of Oil, the total exports of crude during June were nearly 100.06 million barrels, with revenues amounting to $7.11 billion.    SOMO data revealed that the total quantities of crude exported during June from oil fields in central and southern Iraq were 98.72 million barrels.     Oil exports from the Al-Qayyarah oil field in Nineveh governorate in northern Iraq were 1.03 million barrels.   
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Israeli Army Targets 40 Hezbollah Sites in South Lebanon

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Beirut: Lebanon’s Iran-backed Hezbollah movement said it fired a fresh barrage of rockets across the border on Wednesday after a strike blamed on Israel killed two civilians. The group had already fired rockets at northern Israel late on Tuesday “in response” to the civilian deaths. Hezbollah has exchanged near-daily fire with the Israeli army since its ally Hamas carried out an unprecedented attack on Israel on October 7, triggering war in Gaza. It has stepped up its rocket fire on Israeli military bases in recent days.

Israel’s Bulldozer Strategy in the West Bank

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Kuwait Emir’s State Visit to Jordan | TOME

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