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Crude Oil Stabilizes Amid Fuel Demand Worries and Weak China Data

RIYADH: Oil prices steadied on Thursday, a day after rising sharply on a bigger-than-expected fall in US inventories, as attention shifted back to rising interest rates denting global economic growth.  Brent crude futures was up 37 cents, or 0.50 percent, to $74.40 a barrel by 02:41 p.m. Saudi time, while US West Texas Intermediate crude futures rose 39 cents, or 0.56 percent, to $69.95 a barrel.
Business

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.
sport

“Nikola Vucevic signs 3-year, $60M extension with Chicago Bulls”

CHICAGO: The Chicago Bulls and center Nikola Vucevic agreed Wednesday to a $60 million, three-year extension, keeping the two-time All-Star off the free agent market. The move was hardly a surprise considering executive vice president of basketball operations Arturas Karnisovas and Vucevic had expressed a desire to get a deal done. The consistently productive 6-foot-10 center averaged 17.6 points and 11 rebounds — both identical to his averages a season earlier — while playing in all 82 games for the first time in his career.
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. 
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.
sport

“Denver Nuggets’ Game 4 Win Against Miami Heat: Four Key Talking Points”

The Denver Nuggets achieved an impressive two-game sweep in South Beach on Friday night at the Kaseya Center against the Miami Heat, winning Game 4 with a score of 108-95. This victory gave them a commanding 3-1 lead in the NBA Finals. With only one more win needed, the Nuggets are on the verge of claiming their first-ever championship.
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