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  • OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds

    OPEC oil output has fallen in July after Saudi Arabia made an additional voluntary cut as part of the OPEC+ producer group's latest agreement to support the market and an outage curbed Nigerian supply, a Reuters survey found on Monday. The Organization of the Petroleum Exporting Countries has pumped 27.34 million barrels per day (bpd) this month, the survey found, down 840,000 bpd from June. That's the lowest since September 2021 according to Reuters surveys.

  • U.S. Fellowship Program Empowers Thirty-Four Saudi Women Entrepreneurs to Achieve Greater Professional Heights

    The WIn Fellowship is a women’s entrepreneurship and empowerment partnership between U.S. Embassy Riyadh, the Atlantic Council, Georgetown University’s McDonough Business School, and PepsiCo. It delivers a year-long virtual program that includes mentoring and networking opportunities with leading U.S. and Middle East business executives, government officials, and policy professionals. At the end of the program, five WIn program participants will participate in a one-week exchange in the United States in Washington, DC.

  • France and Spain give euro zone economy a boost before outlook darkens

    The French and Spanish economies displayed unexpected resilience in the second quarter but stagnation in powerhouse Germany pointed to renewed weakness ahead for the euro zone, as manufacturing ails and services slow. France and Spain grew at a sustained pace on the back of stronger exports and tourism while Germany, the euro zone's biggest country, remained the worst-performing major economy in the bloc.

  • More women-led funds ‘will boost female entrepreneurship in the UAE’

    “We rarely see VCs are run by females and that is unfortunate … we receive a lot of pitches related to start-ups but not many women are looking for funding. They are not having the right networking opportunities of knowing the person who knows the right person to connect them for business or funding,” Ms El Zayat said.

  • Greek gas grid eyes 1-billion euro hydrogen pipeline

    Greek gas grid operator DESFA wants to build a 1 billion euro ($1.12 billion) hydrogen pipeline that will connect Greece to Bulgaria, as part of a future European southeastern corridor, it said on Thursday. The scheme, jointly proposed with Bulgaria, has passed an initial technical assessment by the European Commission, making it eligible for inclusion in a European list of projects of common interest, DESFA said in a presentation released on Thursday. This puts "Greece, Spain and Italy at the same level with respect to the potential for the future role that these Mediterranean countries will play in providing infrastructure for hydrogen," DESFA Chief Executive Maria Rita Galli told a news conference.

  • Saudi Arabia to become destination for pharmaceutical sector: Fitch Solutions

    Pharmaceutical companies have shown a growing inclination toward investing in the Kingdom in recent years, attracted by the country’s large and increasing population, strong healthcare infrastructure, and the government’s dedicated efforts to develop the sector as part of its Vision 2030 plan. Several multinational pharmaceutical giants such as Novartis, Pfizer, Sanofi, Merck, and GlaxoSmithKline have established a presence in Saudi Arabia through direct investment or partnerships with local companies.

  • Saudi Arabia Wealth Fund Weighs Buying Another Top Football Club in Europe

    The strategy rethink comes less than a week after European football’s governing body UEFA said it would allow a host of clubs with the same owner to compete across its elite competitions, the person said, asking not to be identified discussing confidential information.

  • Germany loosens arms exports to Saudi Arabia, but continues blocking Eurofighter jets

    Germany on Wednesday agreed to loosen some of its restrictions on weapons sales to Saudi Arabia but is continuing to block deliveries of Eurofighter jets. German Chancellor Olaf Scholz’s government coalition reached an agreement to allow weapon exports to Riyadh "in specific individual cases", Scholz's spokesperson, Steffen Hebestreit, said in a statement, which cited the kingdom's ceasefire efforts in Yemen. The conditions for those weapons sales are that the weapons must not be utilised in Yemen and must not be used in relation to potential human rights violations, Hebestreit added.

  • ‘Europe or death’ – the teenage migrants risking it all to cross the Med

    Migrants saved in one of the first rescue operations in the Mediterranean since hundreds of people died when a boat sank off the Greek coast, say nothing could deter them from trying to reach Europe. They spoke to the BBC's Alice Cuddy - on board a rescue vessel patrolling the sea for migrant boats in distress.

  • Erdogan links Sweden’s NATO membership to Turkey’s EU accession

    Turkish President Tayyip Erdogan, in an unexpected move, said on Monday the European Union should open the way for Ankara's accession to the bloc before Turkey's parliament approves Sweden's bid to join the NATO military alliance. Turkey's bid to join the EU has been frozen for years after membership talks were launched in 2005 under Erdogan's first term as prime minister. The ties between Ankara and members of the bloc soured several years ago, especially after a 2016 failed coup attempt in Turkey, but have since improved. The bloc depends on the help of NATO ally Ankara, particularly on migration.