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Saudi Arabia’s Loss-Making U.S. Investments: Buying Influence

Following Saudi Arabia’s purchase of the PGA Tour, a new Senate report revealed the dictatorship’s ballooning share of the American economy.

The post Saudi Arabia’s Huge U.S. Investments Lose Money — but Buy Influence appeared first on The Intercept.

Business

UAE approves driverless cars

RIYADH: Self-driving cars will soon be on the UAE’s roads after the government approved a license for the company WeRide. The China-based firm will be able to test its vehicles in the country following an announcement by Sheikh Mohammed bin Rashid Al-Maktoum, vice president and prime minister of the UAE and ruler of Dubai. WeRide already has a presence in the country, as in 2022 it provided key software and hardware for the phase 1 trial of a self-driving taxi service in Yas Island, Abu Dhabi.
Business

“Bahrain invests $1.3bn in UK economy: Key deals signed”

LONDON: Bahrain has signed a memorandum of understanding for strategic investments and collaborations with Britain that will see the Gulf state’s private sector invest 1 billion pounds ($1.3 billion) in Britain, the Bahraini crown prince’s social media account said on Monday. The investments will be through Bahraini sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management.
sport

Matteo Berrettini, Former Finalist, Unseeded and Nervous for Wimbledon Opener

For a player who not so long ago was consistently making the second week at the Grand Slams, including a stretch of five consecutive major quarterfinal appearances, limiting expectations and venturing into the unknown can feel like alien concepts. Just two years ago, Matteo Berrettini was playing in a Wimbledon final against Novak Djokovic. The Italian power hitter was a constant fixture in the top 10 from October 2019 until June 2022.
sport

“UAE’s Al-Qemzi Secures F1H2O Podium as Andersson Dominates in France”

MACON: Team Abu Dhabi’s Thani Al-Qemzi produced a battling performance to claim a 44th career podium finish today as Jonas Andersson won the Grand Prix of France to extend his lead in the F1H2O World Championship. Andersson, the 2021 world champion, recorded a comfortable victory from Sharjah Team’s Ferdinand Zandbergen and Al-Qemzi in a race littered with dramatic moments on the Saone River in Macon.
Business

UAE startups secure funding for Saudi Arabia expansion

CAIRO: Digital logistics platform Transportr has successfully concluded its eight-figure seed funding round with the participation of Ittihad Ventures Holding and Industrial Capital Group.   Established in 2020, the UAE-based company acts as a multimodal digital freight marketplace, connecting shippers and carriers across various industries to facilitate efficient, transparent, and cost-effective movement of goods.  The platform addresses concerns such as freight rates, manual processes, enhanced visibility, traceability and customer service. 
Business

Thales strengthens Saudi Arabia presence with focus on defense and civil aviation

PARIS: Multinational defense company Thales is committed to strengthening its presence in Saudi Arabia and expanding its operations to align with the country’s Vision 2030 initiative, one of the firm’s leading figures has told Arab News. Speaking on the sidelines of the Paris Air Show, Pascale Sourisse, president of Thales International, said the organization not only wants to bolster the Kingdom’s defense sector, it is also branching out into other areas such as security, civil aviation and higher education.
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Russia-Ukraine Conflict: Key Events, Day 802 | TOME

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Netanyahu uses Holocaust ceremony to deflect Gaza offensive criticism

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JERUSALEM: Israeli Prime Minister Benjamin Netanyahu on Sunday rejected international pressure to halt the war in Gaza in a fiery speech marking the country’s annual Holocaust memorial day, declaring: “If Israel is forced to stand alone, Israel will stand alone.” The message, delivered in a setting that typically avoids politics, was aimed at the growing chorus of world leaders who have criticized the heavy toll caused by Israel’s military offensive against Hamas militants and have urged the sides to agree to a ceasefire.

Russia-Ukraine Conflict: Key Events, Day 802 | TOME

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As the war enters its 802nd day, these are the main developments.

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KFC Malaysia closes outlets amid Gaza boycott

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Franchise operator cites 'challenging economic conditions' amid local reports linking closures to boycotts of Israel.

New Generation of Organized Labor Rises in US

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