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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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Nick Cassidy Triumphs in USA Formula E Race with Jake Dennis Leading Championship

Envision Racing’s Nick Cassidy on Saturday won the first-ever Southwire Portland E-Prix ahead of Avalanche Andretti Formula E Team driver Jake Dennis in second place, propelling the pair to the top of the world championship standings with Dennis leading Cassidy by a point. TAG Heuer Porsche’s Antonio Felix da Costa finished third while just seven seconds split the first 17 cars at the flag.
Business

Biggest Weekly Gold Drop Since Feb Expected Due to Hawkish Fed

RIYADH: Gold prices were en route to their worst week since early February on Friday as the dollar strengthened after US Federal Reserve Chief Jerome Powell reiterated that more interest rate hikes were in the offing, according to Reuters. Spot gold was up 0.4 percent to $1,921.29 per ounce by 1543 p.m. Saudi time, yet stayed close to a three-month low hit earlier in the session. Prices are down 1.8 percent for the week. US gold futures gained 0.4 percent to $1,931.40.
sport

2023 King Salman Club Cup Games to be Held in Three Saudi Cities

RIYADH: The Arabian Football Federation has released the schedule and confirmed the venues for the group stage matches of the 2023 King Salman Club Cup. The Saudi cities of Taif, Abha and Al-Baha will host the tournament, with the matches being played between July 27 and Aug. 12, the federation said on Thursday. Before then, Sudanese club Al-Hilal will face Aymen Sfaxi of Tunisia in a delayed second qualifying round tie on July 4 and 7, the winner of which will join Saudi side Al-Ittihad, Iraq’s Al-Shurta and Al-Taraji of Tunisia in Group A
sport

Tiafoe’s Grass Winning Streak Halted by Korda at Queen’s Club (Google-friendly)

LONDON: Frances Tiafoe’s winning run on grass was ended by Sebastian Korda in an all-American second-round match at the Queen’s Club Championships on Wednesday. Korda won 7-6 (2), 6-3 to end the fourth-seeded Tiafoe’s bid to follow up his title in Stuttgart last week with another grass-court trophy ahead of Wimbledon. Tiafoe arrived in west London in a career-high spot of No. 10 but was beaten by a compatriot 22 places lower in the rankings, with Korda’s big serve coming to the fore on Center Court.
Business

74% of Saudi CEOs Confident in Kingdom’s Growth for Next 3 Years: KPMG

RIYADH: A vast majority CEOs in Saudi Arabia are confident about the Kingdom’s economic growth over the next three years despite the prevalent inflationary pressures and geopolitical tensions, revealed a global survey by KPMG.  The global professional services network, in its latest CEO Outlook report, revealed that 74 percent of Saudi chief executives are optimistic about the economic growth of the Kingdom over the next three years, compared to just 60 percent who are confident about global progress. 
Business

King Abdullah Port and Tabadul Partner to Enhance Logistics Efficiency

RIYADH: Delivery times for goods passing through King Abdullah Port are set to be reduced after the facility signed a strategic partnership with the Saudi Company for Electronic Information Exchange, known as Tabadul, to develop a digital system to boost the Kingdom’s logistics sector. The two entities signed a contract on Tuesday which will see the port’s Smart Gate System merge with Tabadul’s Truck Management System in a move that will increase efficiency.
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Jofra Archer, Will Jacks in England’s T20 World Cup 2024 Squad

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Blinken heads to Jordan for Gaza aid push

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RIYADH: US Secretary of State Antony Blinken headed Tuesday to Jordan where he will discuss ways to boost aid deliveries into Gaza and quietly thank the kingdom for its help during recent Iran-Israel clashes. Blinken flew to Amman after talks with Gulf Arab leaders in Riyadh, part of his seventh tour of the region since the October 7 attack by Hamas on Israel. The US top diplomat will meet Jordan’s King Abdullah II and Foreign Minister Ayman Safadi as well as the UN humanitarian aid and reconstruction coordinator for Gaza, Sigrid Kaag.

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