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Egypt’s Petroleum Ministry launches digital platform for sector investments

RIYADH: Egypt’s petroleum sector is on track to prosper thanks to a new service that will make it easier for investors to spot opportunities in the country. Launched by the Ministry of Petroleum and Mineral Resources, the Upstream Gateway digital platform aims to market petroleum areas globally, according to a statement. It will also provide the geological data required by current and potential investors and promote bids in the North African country’s oil and gas exploration field.
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.
sport

“US Aims for 3rd Consecutive Women’s World Cup Win: Is the Team at Risk?”

NEW YORK: Even without a few key players, the US head into the Women’s World Cup with a formidable group of wily veterans and eager newcomers. The question is, will it be enough for the team to lift international soccer’s most prestigious trophy again? The US have won the last two World Cups and the goal is to three-peat. But American dominance in women’s soccer isn’t assured anymore. Teams like England and France have caught up, Germany and Sweden remain strong, and then there’s that rival to the north, Canada, who won gold at the Tokyo Olympics.
Business

VMS, Saudi Venture Studio, Acquires Stakes in Egypt’s Cash Cows

RIYADH: The startup ecosystem in the Middle East and North Africa region is poised to get a boost as Saudi Arabia-based venture studio VMS has acquired minority stakes in Egyptian startup accelerator Cash Cows.   The purchase of stakes is part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries and in the wider MENA region, according to a press release.  
Business

Egypt boosts energy transition with updated climate commitments

RIYADH: Egypt aims to advance its target of generating 42 percent of its energy through renewable sources to 2030 from 2035 as the North African nation submitted updated climate commitments as per the Paris Agreement on Monday.   In its updated Nationally Determined Contribution document, Egypt noted that the country needs to obtain grants and soft financing worth €500 million ($548 million) as a contribution to achieving the revised targets. 
Business

New Electrical Transmission Line Connects Afar, Saudi Arabia to Yusufiya, Iraq

DUBAI: Aiming to step up energy security and usher in a new era in regional cooperation, Prince Saud bin Nayef bin Abdulaziz, the governor of the Eastern Province, inaugurated an electrical interconnection project between the Gulf Cooperation Council Interconnection Authority and Iraq. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the connection was a dream turned reality, in an interview with Al-Arabiya. He said this landmark deal could achieve tangible economic benefits and enhance energy security.
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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US report: Israel’s Gaza war impacts human rights

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WASHINGTON: The war between Israel and Hamas that has killed tens of thousands of Palestinians in Gaza and resulted in a severe humanitarian crisis has had “a significant negative impact” on the human rights situation in the country, the US State Department said in its annual report on Monday. Significant human rights issues include credible reports of arbitrary or unlawful killings, enforced disappearance, torture and unjustified arrests of journalists among others, said the State Department’s 2023 Country Reports on Human Rights Practices.

Inter Milan wins 20th Italian league title in heated derby

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Inter win the 'away' game 2-1 and seal their 20th coveted title to set off wild celebrations in the Italian capital.

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10 Malaysian Navy crew killed in midair helicopter collision

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The two helicopters were practising for an aerial display at the naval base of Lumut at the time of the incident.

Israeli protesters burn Passover table outside PM’s house

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CAESAREA, Israel: Israeli protesters burnt a symbolic Passover table outside Prime Minister Benjamin Netanyahu’s house at the start of the Jewish holiday on Monday, accusing him of failing hostages in Gaza. Hundreds of protesters gathered outside the gates leading to the house in the coastal town of Caesarea, calling for the release of hostages abducted by Palestinian militants on October 7 and criticizing Netanyahu’s leadership. Israeli officials say 129 captives remain in the Gaza Strip after the Hamas attack, including 34 whom the military says are dead.

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Australia and Musk Clash Over Censorship

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Elon Musk and Australian Prime Minister Anthony Albanese clash over order to remove X posts on church stabbing.

Australia PM criticizes Musk’s X over stabbing video

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Anthony Albanese says decision to challenge takedown order for content related to church stabbing 'extraordinary'.

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