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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. 
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Juventus signs US winger Weah on five-year contract

TURIN, Italy: US winger Tim Weah completed a transfer to Juventus on Saturday, fulfilling a dream his father once had of playing for the storied Italian club. The 23-year-old Weah, who is the son of former FIFA Player of the Year and current Liberian President George Weah, signed a five-year contract with Juventus on the day the transfer market opened in Italy.
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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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“PSG Coach Galtier Faces Racism Trial: Paris Saint-Germain News”

PARIS: Paris Saint-Germain coach Christophe Galtier has been summoned to stand trial in December as part of an investigation into racism allegations at his former club Nice, a prosecutor said Friday. Galtier and his son, John Valovic-Galtier, were placed in custody for questioning on Friday morning. After his son was released without charge, Galtier was referred to the public prosecutor’s office and will stand trial in Nice on Dec. 15 on charges of psychological harassment and discrimination, prosecutor Xavier Bonhomme posted on Twitter.
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EU proposes changes to payments sector to support fintech growth

LONDON: The EU has proposed making the payments sector more competitive, giving legal backing to a digital euro, and preserving the role of cash as fewer people use coins and notes, according to Reuters. The package of European Commission reforms seeks to further prise open a payments market long dominated by banks and US duo Visa and Mastercard, which are now being challenged by fintechs that offer rival services using data from customers’ bank accounts.
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“Bharat Petroleum of India to Raise $2.19bn for Green Energy Expansion”

RIYADH: State-owned oil marketing company Bharat Petroleum said on Wednesday it approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares on a rights basis, underscoring India’s push to achieve net-zero emissions goals. The details of the issue, including the price, right entitlement and timing, will be intimated separately after the board approval, it said in an exchange filing. Last week, the company said the funds would be used to achieve “energy transition, net zero and energy security objectives.”
Business

Crude Oil Updates: Monthly Gain Expected as Supply Tightens

HOUSTON: Oil prices edged higher on Friday with Brent poised for its first monthly gain this year, as a big drawdown in US oil stocks outweighed concerns that fuel demand will be dented further by more interest rate hikes, according to Reuters. Brent crude futures for September delivery rose 16 cents or 0.2 percent to stand at $74.67 as of 7:05 a.m. Saudi time. The less-traded front month contract, which expires on Friday, was up 30 cents at $74.64. US West Texas Intermediate crude gained 8 cents or 0.1 percent to $69.95.
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UN and aid agencies urge Israel to stop Rafah assault after crossing seized

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UN and aid agencies urge Israel to halt Rafah incursion, warning Gaza is on brink of famine and needs humanitarian aid.

Israeli team heading to Cairo to assess Hamas position, official says

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JERUSALEM: The Israeli military took control of the vital Rafah border crossing between Gaza and Egypt on Tuesday, pushing into the southern Gazan town after a night of air strikes and as prospects for a ceasefire deal hung in the balance. The Palestinian militant group Hamas said late on Monday it had agreed to a ceasefire proposal from mediators seven months into the war that has pushed more than a million Gazans into the south of the enclave. Israel said the terms did not meet its demands and launched a military operation in Rafah.

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Russia-Ukraine War: Key Events Day 803 | TOME

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As the war enters its 803rd day, these are the main developments.

Palestinians seek UN General Assembly backing for full membership

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UNITED NATIONS: The United Nations General Assembly could vote on Friday on a draft resolution that would recognize the Palestinians as qualified to become a full UN member and recommend that the UN Security Council “reconsider the matter favorably.” It would effectively act as a global survey of how much support the Palestinians have for their bid, which was vetoed in the UN Security Council last month by the United States. An application to become a full UN member needs to be approved by the 15-member Security Council and then the General Assembly.

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Boeing delays Starliner capsule launch due to valve issue

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Cancellation of inaugural crewed space mission comes as Boeing is under fire over safety record at its aviation arm.

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.

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