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  • Lebanese passenger plane intercepted by Greek fighter jets mid-flight

    Greek fighter jets intercepted a civilian plane operated by Lebanon’s mostly state-owned airline in mid-flight. One hundred and forty-five passengers were aboard Middle East Airlines flight ME242 when it was intercepted by two F16 fighter jets on August 10, according to Twitter account @Intel_Sky, which specialises in tracking and monitoring aircraft. The plane was travelling from Madrid to Beirut, and was flying over Greece at the time of the interception.

  • Many Saudi banks shut down branches due to increased digitalization

    A report by SAMA released a few days ago hints that the country is adopting digital-first payment as the primary mode of transactions. It further suggests that the Saudi government leads the push toward a digital economy, and the payments made by the government agencies are made electronically.

  • Saudi-Backed LIV Golf Would Be Banned From N.J. Under State Senate Bill

    The legislation, sponsored by Senators Andrew Zwicker and Richard Codey, would prohibit contests by all sports organizations “operated primarily through use of monies received from sovereign wealth funds,” according to a news release. A LIV tournament at Donald Trump’s Bedminster golf club on July 29-31 drew protests from survivors and families of 9/11 victims who condemned the event. The winner, Henrik Stenson, was paid $4 million.

  • Russia’s Oil Resilience Faces Bigger Test as EU Ban Looms

    After plunging in the immediate aftermath of its offensive in February, Russian production has rebounded over the past three months as domestic refining boomed and Asian customers stepped in to take shipments shunned by Western buyers. Yet a looming European Union ban on most Russian crude, as well as a gathering economic slowdown, will strike a blow to the country’s producers.

  • Saudi Arabia’s The Line bids to join ranks of most futuristic urban models in the world

    Similar to Saudi Arabia’s The Line, here’s a list of 9 futuristic city models from around the world, set to redefine urban living with innovative design and solutions

  • IEA Sees Russia Oil Output Down 20% When EU Ban Takes Effect

    Gradual monthly declines will start as soon as this month as Russia cuts back refining, and will quicken as the embargo takes effect, the IEA said in a market report. The agency expects to see close to 2 million barrels a day shut in by the start of 2023, despite a healthy recovery in production in recent months.

  • Lebanese buyer rejects first batch of Ukrainian grain

    The buyer has raised concerns over the quality of the grain, due to the five-month delay in its shipment. The charterer is now looking for a new buyer inside Lebanon or the Middle East, an Istanbul-based ship agent with knowledge of the matter told Middle East Eye.

  • Afghanistan adrift one year after the Taliban takeover

    Even prior to Zawahiri’s death, the last few months mostly underscored the Taliban’s global isolation. Relations with the United States and the other Western democracies will remain poor for the foreseeable future. Though China and Russia have accredited diplomats to Kabul, they also have kept their distance and, notably, declined to recognize the Taliban regime as the official government of Afghanistan. I

  • Visa and Al Rajhi Bank push to empower female entrepreneurs in Saudi Arabia

    “The ‘She’s Next’ initiative offers female business owners in the Kingdom a unique opportunity to apply for one of five $10,000 grants and receive a year of coaching from IFundWomen, as well as networking and mentoring opportunities to build, fund and grow their ventures,” Bailoun said.

  • SoftBank Reports $23 Billion Loss as Tech Investments Plummet

    The Japanese conglomerate SoftBank reported on Monday its largest-ever quarterly loss, $23.4 billion, driven by poor performance of its flagship tech investments and a weak yen. It was the second straight quarter of enormous losses for the company, which has been staggered by broad weakness in global stocks, causing paper losses in the company’s portfolio of publicly traded tech giants as well as markdowns on its holdings in hundreds of unlisted companies.