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Saudi Arabia’s Food Industry Attracts $61.8 Million in Investments

RIYADH: Chocolate, yogurt and fish production in Saudi Arabia will increase after investment deals worth SR232 million ($61.8 million) were signed by the Saudi Authority for Industrial Cities and Technology Zones. The organization, also known as MODON, has awarded seven contracts covering 99,400 sq. meters which will primarily benefit the Kingdom’s food and beverage sector.
Business

Saudi Arabia’s Financial Market Ranks 3rd in G20 Competitiveness Indicators

RIYADH: Saudi Arabia’s financial market has advanced seven places to the third position in the competitiveness indicators among G20 nations this year, revealed Switzerland-based International Institute for Management Development in its latest report. According to the IMD World Competitiveness Yearbook for 2023, the Kingdom’s performance epitomizes the ongoing efforts of the Capital Market Authority to implement global best practices. 
sport

“IOC Warns Afghanistan of Paris Olympics Status Due to Denial of Women’s Sports”

GENEVA: The Afghanistan team’s status for the 2024 Paris Olympics was put in question Wednesday by the IOC over growing frustration with the Taliban blocking access to sport for women and girls. The International Olympic Committee said it “continues to be extremely concerned” about the sports situation in Afghanistan despite its repeated calls for action.
sport

Euro Qualifying: England and France Win Easily, Wales Lose to Armenia at Home

PARIS: England and France cruised to victories over international minnows in Euro 2024 qualifying on Friday, but Wales saw their hopes of reaching next year’s finals in Germany suffer a setback in a 4-2 home defeat by Armenia. Gareth Southgate’s England scored twice from the penalty spot as they eased to a 4-0 win away to a Malta side ranked 172nd in the world and kept up their perfect record in Group C.
Business

PIF’s Jada to Boost Saudi Arabia’s Startup Scene

CAIRO: Saudi Arabia’s startup landscape has received a significant push after a subsidiary of the Kingdom’s Public Investment Fund committed to investing in several venture capital vehicles. PIF’s Jada Fund of Funds Co. plans to invest an undisclosed amount in Bahrain-based Investcorp’s $500 million Saudi pre-initial public offering growth fund. The investment vehicle is exclusively focused on supporting a diverse range of companies based in Saudi Arabia during their pre-IPO stage.
sport

Michael Jordan selling majority stake in Charlotte Hornets NBA team.

NEW YORK: Basketball legend Michael Jordan has agreed to sell his majority stake in the NBA’s Charlotte Hornets to an investment consortium, the team announced Friday. The buyer group is led by Gabe Plotkin, chief investment officer at Tallwoods Capital LLC and Rick Schnall, co-president of private equity firm Clayton, Dubilier & Rice. The group also includes musicians J. Cole and Eric Church, said a press release from Hornets Sports & Entertainment that did not disclose financial terms.
sport

Denver Nuggets Parade: Celebrating 1st NBA Championship Win

DENVER: Nikola Jokic rode atop a firetruck with people who mean the world to him — his teammate Jamal Murray, his family — and the NBA trophy. Jokic and the Denver Nuggets soaked in the moment and were soaked, too, by champagne spray Thursday during a downtown parade to celebrate their first NBA title. His young daughter, Ognjena, stole the show as she sat in front of him on the firetruck, at times wearing Jokic’s championship hat. Jokic turned in some big assists, too, shielding her from champagne showers.
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