MUST-READS

• Egypt’s headline inflation slowed to 32.5% in April

  Egypt’s annual urban consumer price inflation rate decreased to 32.5 percent in April from 33.3 percent in March, slowing slightly more than analysts had expected, data from the country’s statistics agency CAPMAS showed on Thursday. Month-on-month, prices rose by 1.1 percent in April, up from 1.0 percent in March. Food prices declined in April by 0.9 percent, though they were 40.5 percent higher than a year ago. A poll of 17 analysts had expected annual inflation to dip to a median 32.8 percent, continuing a slowing trend that started in September when inflation reached a peak of 38.0 percent.

• Israeli strike on Lebanon kills four Hezbollah fighters, security sources say

  An Israeli air strike on a car in southern Lebanon killed four people on Thursday, according to Lebanon’s civil defense, with security sources saying those killed were members of armed group Hezbollah. The conflict between Hezbollah and Israel has rumbled on since October in parallel to the Gaza war, with an escalation this week as both sides intensified their bombardment, fueling concern of a bigger war between the heavily-armed adversaries.

• Biden says he will stop sending bombs and artillery shells to Israel if it launches major invasion of Rafah

  “Civilians have been killed in Gaza as a consequence of those bombs and other ways in which they go after population centers,” Biden told CNN’s Erin Burnett in an exclusive interview on “Erin Burnett OutFront,” referring to 2,000-pound bombs that Biden paused shipments of last week. “I made it clear that if they go into Rafah – they haven’t gone in Rafah yet – if they go into Rafah, I’m not supplying the weapons that have been used historically to deal with Rafah, to deal with the cities – that deal with that problem,” Biden said.

• World Health Organization Warns Of MERS-CoV Resurfacing In Saudi Arabia

  The World Health Organization just released a report about the resurfaced MERS-CoV cases in Saudi Arabia. The WHO was alerted by the Ministry of Health of Saudi Arabia about three MERS-CoV cases, including one fatality, from April 10 to 17, 2024. The patients, aged 56 to 60, were males from Riyadh with preexisting health, and were presumably exposed to the virus in a Riyadh healthcare facility.

• Saudi Smash 2024 set for big final weekend in Jeddah

  The top contenders in the Saudi Smash 2024 tournament are starting to emerge after day five saw Germany’s Patrick Franziska steal the show at King Abdullah Sports City with a sensational comeback against the more favored Fan Zhendong of China in the men’s singles.

• Robust IPO pipeline and market initiatives propel Saudi Exchange’s global appeal: CEO

  An array of robust and diverse initial public offerings are poised for the Saudi Exchange thanks to new initiatives aimed at attracting international investors, the bourse’s CEO has revealed. Addressing a panel discussion themed “Expanding Frontiers: Uncovering Investment Potential in Saudi Arabia and China” at the Capital Market Forum — CONNECT Hong Kong, Mohammed Al-Rumaih expressed confidence in the future trajectory of the Saudi Exchange. Advertisement

• Saudi Crown Prince, Zelenskiy Discuss Ukrainian-Russian Crisis

  Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Saudi Crown Prince and Prime Minister, received a telephone call on Wednesday from Ukrainian President Volodymyr Zelenskiy.

• Skyworth Auto signs $1.38 billion deal with Saudi Arabia’s KAG

  Skyworth Auto, the car-making arm of Chinese home appliance giant Skyworth, has signed a cooperation agreement with a Saudi company, as more Saudi money enters the Chinese car-making sector. Skyworth Auto has signed a 10-year strategic cooperation agreement with the Saudi royal-controlled KAG Group, with the first five years in the first phase of the partnership having a business plan of RMB 10 billion yuan ($1.38 billion), the company announced today.

• Saudi Arabia to boost private sector investments in manufacturing: deputy minister

  Saudi Arabia aims to bolster private sector investment in the manufacturing industry, capitalizing on the Kingdom’s swift growth, according to a top official. During his opening speech on the second day of the Riyadh International Industry Week 2024, Deputy Minister of Industry and Mineral Resources for Industrial Affairs Khalil bin Salamah pointed out that partnership with non-government bodies is of great importance in achieving industrial development in the Kingdom.

• Saudi Arabia condemns attack on UNRWA headquarters in Jerusalem

  The Ministry of Foreign Affairs of Saudi Arabia has condemned the recent attack by Israeli settlers on the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) headquarters in occupied Jerusalem. The attack occurred under the watch of Israeli occupation police. In a statement released on Thursday, the ministry held the Israeli occupation accountable for the recurrent crimes against daefenseless civilians and workers in humanitarian and relief organizations. The statement emphasized the Kingdom's call for the international community to intensify efforts to stop all legal and humanitarian violations and to ensure that the Israeli occupation faces consequences for its continued offenses, which flout international laws and norms.

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