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Saudi Arabia sets sights on boosting its aviation industry

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Al-Araby

Saudi Arabia on Monday pitched aviation industry leaders on its plans to become a global travel hub, drawing scepticism from analysts who questioned how it could compete against regional heavyweights. The conservative kingdom’s aviation goals, part of Crown Prince Mohammed bin Salman’s wide-ranging “Vision 2030” reforms, include more than tripling annual traffic to 330 million passengers by the end of the decade. It also wants to draw $100 billion in investments to the sector by 2030, establish a new national flag carrier, construct a new “mega airport” in Riyadh and move up to five million to… Continue reading “Saudi Arabia sets sights on boosting its aviation industry”

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King Salman to remain in hospital for ‘rest’: Saudi press

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Al-Araby

Saudi Arabia’s ageing King Salman will remain in hospital after undergoing tests including a colonoscopy, state media reported on Sunday. The kingdom has for years sought to quell speculation over the health of the 86-year-old monarch, who has ruled the world’s top oil exporter since 2015. He entered King Faisal Specialist Hospital in the coastal city of Jeddah on Saturday “to conduct some medical examinations,” according to an official report, citing a royal court statement. On Sunday afternoon doctors performed a colonoscopy “and the result was sound”, the Saudi Press Agency later said. “The… Continue reading “King Salman to remain in hospital for ‘rest’: Saudi press”

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A rival sits out Lebanon’s election. Now Hezbollah could fill the void

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Reuters UK

By Maya Gebeily TRIPOLI, Lebanon (Reuters) – The stakes are high in Lebanon’s election. The heavily armed Hezbollah movement has seen one of its main rivals descend into disarray, handing it an opportunity to cement power over a divided country that’s sinking into poverty. Abdallah al-Rahman will not be casting a ballot, though. “I won’t vote for anyone,” said the wiry-haired sculptor and activist, dismissing the candidates whose pictures are plastered on buildings and giant billboards in Lebanon’s second city of Tripoli ahead of the national parliamentary election on May 15. Rahman is from th… Continue reading “A rival sits out Lebanon’s election. Now Hezbollah could fill the void”

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Oil slips on global economic concerns, ahead of EU vote on Russia oil ban

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Reuters UK

By Florence Tan SINGAPORE (Reuters) -Oil prices slipped on Monday, along with stock markets in Asia, sparked by fears a global recession could dampen oil demand, with investors eying European Union talks on a Russian oil embargo that is expected to tighten global supplies. Brent crude dropped 28 cents, or 0.3%, to $112.11 a barrel by 0153 GMT. U.S. West Texas Intermediate crude was at $109.36 a barrel, down 41 cents, or 0.4%. “The broader risk-off sentiment sparked by the recession fears, and China’s lockdowns are the major factors that pressure the oil price,” CMC Markets analyst Tina Teng sa… Continue reading “Oil slips on global economic concerns, ahead of EU vote on Russia oil ban”

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Azerbaijan, Saudi Arabia sign MoU in financial auditing and control

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Azer News

By Trend Chairman of the Chamber of Accounts of Azerbaijan Vugar Gulmammadov signed a memorandum of understanding with President of the Saudi General Bureau for Auditing Dr. Hossam Bin Abdul Mohsen Al-Angari in the field of financial auditing and performance control, Trend reports referring to the media of Saudi Arabia. The memorandum aims to enhance cooperation between the two agencies in the areas of accounting and control, in accordance with the laws and regulations in force in both countries, as well as within the framework of the main provisions and principles of the International Organiz… Continue reading “Azerbaijan, Saudi Arabia sign MoU in financial auditing and control”

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Fuel for Thought: Charles Leclerc on F1 Miami GP, Playing Piano, More

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Sports Illustrated

By Madeline Coleman Ferrari’s star discusses the fan environment at the Emilia Romagna Grand Prix, gives insight on what fans should look for this weekend and talks about his passion beyond the grid. Miami — Behind many people there’s often a village, filled with others who have made sacrifices to support one’s quest to chase their dreams. For Ferrari’s Charles Leclerc, one of those individuals is his late father, Hervé Leclerc, who was a dominant racer himself in Formula 3 throughout the 1980s and ’90s. And although his father died in ’17, the rising Ferrari sensation still credits him to thi… Continue reading “Fuel for Thought: Charles Leclerc on F1 Miami GP, Playing Piano, More”

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Phil Mickelson lost $40 million gambling in 5 years: report

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New York Daily News

He didn’t have a handle on things. Phil Mickelson lost $40 million gambling between 2010 and 2014, according to a report. Mickelson, 51, famously owed millions in gambling debts to a man convicted of insider trading in 2017. A source told golf writer Alan Shipnuck that federal investigators determined Mickelson lost $40 million while betting from 2010-2014. Shipnuck estimated Mickelson’s income at $40 million per year in those years, but given his notoriously vast expenses, it’s possible he was losing money. Many people speculated that gambling debt was part of Mickelson’s motivation for cozyi… Continue reading “Phil Mickelson lost $40 million gambling in 5 years: report”

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Why Gulf states are rekindling ties with Lebanon

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Al-Araby

Saudi Arabia, Kuwait, and Yemen in April announced the return of their ambassadors to Lebanon, while the United Arab Emirates (UAE) and Bahrain have yet to return their envoys to the country. The re-engagement came after diplomatic tensions had escalated in October 2021 following Lebanese information minister George Kordahi’s criticism of the Saudi-led coalition’s war in Yemen. Although Kordahi made those comments before being appointed minister, Saudi Arabia and other Gulf states withdrew their envoys from Beirut after recordings of the criticism resurfaced. But besides Kordahi’s criticism, w… Continue reading “Why Gulf states are rekindling ties with Lebanon”

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Twitter Stock Leaps As Elon Musk Gets $7.1 Billion In New Takeover Financing

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The Street

By Martin Baccardax Elon Musk looks to have won over Saudi Prince Alwaleed Bin Talal, while bringing on board a series of new equity investors, in his $44 billion pursuit of Twitter. Updated at 6:48 am EST Twitter (TWTR) – Get Twitter, Inc. Report shares moved higher Thursday after Tesla (TSLA) – Get Tesla Inc Report CEO Elon Musk said he’s received around $7.1 billion in new equity funding, including a $1 billion contribution from Oracle (ORCL) – Get Oracle Corporation Report founder Larry Ellison, to help finance his $44 billion takeover of the social media group. In Securities and Exchange … Continue reading “Twitter Stock Leaps As Elon Musk Gets $7.1 Billion In New Takeover Financing”

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Bob Baffert Won’t Be At the Kentucky Derby, But Racing Still Can’t Shake Him

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Sports Illustrated

By Pat Forde One of the most successful—and now controversial—trainers received a stark message: No one is bigger than Churchill Downs. But his presence still looms. Barn 33 was ghostly quiet nine days before the 148th Kentucky Derby, nothing but naked lightbulbs and empty stalls. There were two pairs of shoes leaning against the wall in the shedrow, but no humans or horses were present. The blank beige wall by the entrance to what has been the mecca of the Churchill Downs stable area for a quarter century screamed a silent message: Bob Baffert is not here. Not welcome here. All but scrubbed f… Continue reading “Bob Baffert Won’t Be At the Kentucky Derby, But Racing Still Can’t Shake Him”