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Saudi Arabia unemployment rate Q1 2022 drops to 5.1%

RIYADH: Saudi Arabia’s jobs targets outlined in Vision 2023 have borne results, with its overall unemployment rate falling 0.9 percentage points to 5.1 percent in the first quarter of 2023 compared to the same period a year ago, official data showed.  According to the latest report by the General Authority for Statistics, the labor force participation of Saudis increased annually by 2.3 percentage points in the first quarter. The employment-to-population ratio also increased by 2.9 percentage points. 
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“76ers’ Future Uncertain: Harden and Harris Deals Hang in Balance”

PHILADELPHIA: James Harden might have side-eyed questions this week — much like he did in a playful reaction in his Houston days — about his future with the Philadelphia 76ers. But the issue is real in Philly: Will Harden return to the 76ers for a third season? All signs point to Harden declining his $35.6 million option on Thursday and entering this summer as an unrestricted free agent. That leaves the 2018 NBA MVP and 10-time All-Star free to sign with any team.
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Real Estate Fund Deposits $244.1m in Sakani Accounts in June

RIYADH: Saudi Arabia is getting closer to its Vision 2030 home ownership goal, with the Kingdom’s Real Estate Development Fund on Monday depositing SR916 million ($244.1 million) in the accounts of affordable housing beneficiaries.  According to the Saudi Press Agency, Mansour bin Madi, CEO of the fund, said the total amount deposited from June 2017 to June 2023 has now surpassed SR49.3 billion. 
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ACWA Power gets $100m credit from Chinese bank to expand operations

RIYADH: In an effort to boost its operations, Saudi energy firm ACWA Power secured $100 million in a revolving credit facility from China Construction Bank. Engaged in collaboration with the Chinese bank since 2016, ACWA Power signed the three-year revolver agreement to scale up its power generation and water desalination portfolio in the Middle East, Uzbekistan and Kazakhstan.
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“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.
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Real Estate Fund Plans to Construct 100+ Housing Units in Riyadh

RIYADH: In a bid to contribute to the housing supply and boost the real estate development efforts in Saudi Arabia, Arjan Architects and Bloominvest have joined forces to build more than 100 housing units in northern Riyadh.   The two parties established a joint real estate investment fund called Arjan Al-Maghamis which aims to develop a land area exceeding 30,000 sq. meters in the Kingdom’s capital, Al-Ekhbariya reported.  
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Riyadh Air CEO announces direct flights from Saudi capital to major European cities

PARIS: In line with its goal to serve over 100 destinations by 2030, Riyadh Air will connect the Kingdom’s capital to major cities of Europe, its CEO said.   Speaking to Arab News on the sidelines of the Paris Air Show, Tony Douglas said the company intends to reveal something new every two months as the airline gears up for its 2025 launch. While Saudi Arabia is one of the world’s fastest-growing economies and the highest populated country within the Arabian Peninsula, it is not globally well-connected as it needs to be.  
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UAE aid convoy enters Gaza Strip | TOME

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Al-ARISH: A UAE aid convoy entered the Gaza Strip on Wednesday via Egypt’s Rafah Crossing Point as a part of the country’s “Operation Chivalrous Knight 3” project to support the Palestinian people, UAE state news agency WAM reported on Thursday. The 12-truck convoy is transporting over 264 tonnes of humanitarian aid including food, water and dates. The latest convoy now brings to 440 the number of trucks that have been used for support efforts.

The Hidden Costs of EU-Rwanda Supply Deal: Blood Minerals

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EU plans to secure supplies for green revolution from Rwanda likely to support smuggling of conflict minerals from DRC.

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Iranian Teen Protester Nika Shakarami Killed by Police

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JEDDAH: Iranian authorities ordered the arrest of activists and journalists on Wednesday after a leaked Revolutionary Guard report revealed that secret police had sexually assaulted and killed a teenage girl during Iran’s “hijab protests” in 2022. Nika Shakarami, 16, died during demonstrations over the death in police custody of Mahsa Amini, who had been detained for wearing her headscarf incorrectly. Shakarami’s death also sparked widespread outrage. Authorities said she died after falling from a tall building, but her mother said the girl had been beaten.

UAE aid convoy enters Gaza Strip | TOME

News 0
Al-ARISH: A UAE aid convoy entered the Gaza Strip on Wednesday via Egypt’s Rafah Crossing Point as a part of the country’s “Operation Chivalrous Knight 3” project to support the Palestinian people, UAE state news agency WAM reported on Thursday. The 12-truck convoy is transporting over 264 tonnes of humanitarian aid including food, water and dates. The latest convoy now brings to 440 the number of trucks that have been used for support efforts.

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Microsoft to invest $1.7 billion in AI and cloud infrastructure in Indonesia

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Microsoft CEO Satya Nadella says investment will help Southeast Asia's biggest economy thrive in 'new era'.

IMF to release $1.1bn loan to Pakistan after key meeting

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Pakistan seeks another long-term IMF programme to support its ailing economy but experts say focus must be on reforms.

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