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DeChambeau Takes Lead at PGA Championship for LIV Golf

ROCHESTER, New York: Bryson DeChambeau delivered a credibility boost to LIV Golf, firing a 4-under par 66 to seize a one-stroke lead in Thursday’s opening round of the PGA Championship. The slimmed-down 2020 US Open champion, coming off 2022 left wrist surgery, struck a competitor with an errant shot but managed six birdies against two bogeys to stand atop the field at formidable Oak Hill. “I hit my putts really well and drove it nicely,” DeChambeau said. “I faced some tough challenges and was able to execute the way I wanted to and, man, it feels really good.”
Business

Saudi Arabia’s M3 Money Supply Increases by 4.74% Since December End

RIYADH: Saudi Arabia’s M3 money supply has surged 4.74 percent since December 2022, according to data released by the Saudi Central Bank, also known as SAMA. The M3 money supply, which is usually monitored as a broad measure of liquidity in the monetary system, reached SR2.61 billion ($696 billion) in the week ending May 11, rising from SR2.50 billion on Dec. 31. The former M3 money figure also reflects a 0.17 percent drop in the week ending May 11 to the week ending on May 4 when it stood at SR2.62 billion.
Business

Saudi Tourism Fund partners with Minor Hotels for top brand development

RIYADH: Travelers will have access to more hospitality options in Saudi Arabia after the Kingdom’s Tourism Development Fund struck a deal with Minor Hotels Group to jointly develop mountain destinations, health resorts, and urban hotels in the country. The memorandum of understanding, which was signed during the International Hotel Investment Forum in Berlin, aims to establish an exclusive prolonged strategic relationship between the two organizations. 
Business

TASI rises 71.58 points with Food & Beverage sector leading

RIYADH: Saudi Arabia’s Tadawul All Share Index gained 71.58 points, or 0.64 percent, to close at 11,277.60 on Wednesday as 136 of the 224 stocks finished in the green, while 75 ended in the red. The top performing sector of the Saudi Stock Exchange was Food & Beverages, which soared 2.35 percent, while the Insurance and Banks sectors followed by 1.70 and 1.50 percent, respectively. While the parallel market Nomu rose 0.88 percent to close at 20,864.69, the MSCI Tadawul Index edged up 0.85 percent to close at 1,517.45.
Business

TASI drops despite healthcare sector rally at closing bell

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped 24.18 points, or 0.22 percent, to close at 11,206.02 on Tuesday as 111 of the 224 stocks rose, while 95 declined.  Stocks listed on the Pharma, Biotech, & Life Science index soared the most, with a 9.28 percent climb, while the stocks of the Energy and the Telecommunication sectors fell 1.96 and 1 percent, respectively.  While the parallel market Nomu rose 0.57 percent to close at 20,682.62, the MSCI Tadawul Index dropped by 0.18 percent to close at 1,504.59. 
sport

“Jon Rahm’s PGA Championship Challenge: Adding to a Big Year”

PITTSFORD, N.Y.: Jon Rahm watched video of the last PGA Championship at Oak Hill, which would not seem to be of much value considering the restoration work on the East Course, the rain-soaked week in 2013 and the fact that it was in August. Rahm picked up a few details that could serve him or anyone well, particularly the discipline Jason Dufner showed when he got in trouble off the tee and how he relied on his wedge game. More than a student of the game, the 28-year-old Spaniard is simply a golf nerd who recently described himself as “beyond addicted to the game.”
Business

Saudi-Bahraini Investment Co. receives $5bn approval from Public Investment Fund: Al-Falih

RIYADH: Saudi Arabia’s Public Investment Fund has approved the establishment of the Saudi-Bahraini Investments Co. with a capital of around SR18 billion ($5 billion), according to the Saudi investment minister.  On the sidelines of the Saudi-Bahraini Coordination Committee meeting held in Manama, Khalid Al-Falih said that the location of the company’s headquarters would be announced soon.  Al-Falih also stated that the group addressed around 13 ideas, some of which have been finalized while others are still in progress. 
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