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One-litre bottles of extra-virgin olive oil are selling for as much as 14.5 euros ($15.77) in some supermarkets, propelling olive oil into the category of products retailers fit with security tags, alongside spirits, cosmetics and appliances. "Olive oil has become an ideal product for them to steal." STC, a Spanish company providing anti-theft solutions to retailers, saw a 12-fold increase in orders this summer from supermarkets for devices to protect olive oil bottles, managing partner Salvador Canones told Reuters. Spanish police have also uncovered thefts of olive oil from mills and in October arrested two people as part of an investigation into the theft of 56 tonnes of extra virgin olive oil. Among the world's biggest consumers of olive oil, they have already significantly cut back: sales volumes of extra-virgin olive oil fell by 17% in the 12 months to September, according to NielsenIQ.

Persons: Jon Nazca, Ruben Navarro, Navarro, Tu, " Navarro, Salvador Canones, Corina Rodriguez, Helen Reid, Elaine Hardcastle Organizations: REUTERS, Rights, Tu, STC, Reuters, Spanish, Thomson Locations: Olive, Malaga, Spain, Rights MADRID, Spain's Andalucia, Carrefour, Madrid, Spanish

☆ Spain's state fund considers taking Telefonica stake after STC move
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. Acting Economy Minister Nadia Calvino has said Madrid will carry out a thorough evaluation before approving STC's stake, while acting labour minister Yolanda Diaz has called for the transaction to be blocked. Spain's SEPI said in a stock market filing on Tuesday that it was carrying out an "exploratory internal analysis over a potential acquisition" of a stake in Telefonica. STC declined to comment on any potential plans by SEPI. Caixabank, which owns 3.5% stake of Telefonica, said last week it would not raise its stake in response to STC's move, and would analyse with Telefonica any potential cooperation with the Saudi Arabian telecoms company.

Persons: Violeta Santos Moura, Spanish telco Caixabank, SEPI, Nadia Calvino, Yolanda Diaz, Spain's SEPI, Belen Gualda Gonzalez, Onur Genc, It's, Genc, Inti Landauro, Pietro Lombardi, Louise Heavens, Alexander Smith Organizations: Spanish Telecom, REUTERS, BBVA, Telefonica Bank, Telefonica MADRID, Telefonica, Saudi, STC, Saudi Arabia's, SEPI, Thomson Locations: Madrid, Spain, Spanish, Saudi Arabian

☆ STC reportedly drops plan to up stake in Spain's Telefonica to 9.9%
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. Telefonica and STC declined to comment on the report. In September, Saudi Arabia's largest telecoms operator amassed a 9.9% stake worth 2.1 billion euros ($2.23 billion) in a move to become Telefonica's top shareholder, though it added it did not intend to acquire control or a majority stake. STC's holding consists of 4.9% of Telefonica's shares and financial instruments that give it another 5% in so-called economic exposure to the company. As Telefonica is considered a defence service provider, the Spanish defence ministry has a say in acquisitions and holdings between 5% and 10% unless the buyer commits not to request a seat on the board.

Persons: Violeta Santos Moura, David Latona, Belen Carreno, Jesus Aguado, Hadeel Al, Andrei Khalip Organizations: Spanish Telecom, REUTERS, Rights, STC, Telefonica, El Economista, Saudi, Inti Landauro, Thomson Locations: Madrid, Spain, Rights MADRID, Saudi, Spanish, Hadeel Al Sayegh, Riyadh

☆ Caixabank to look at how Telefonica and STC can cooperate
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Violeta Santos Moura/File Photo Acquire Licensing RightsMADRID, Oct 27 (Reuters) - Spain's Caixabank (CABK.MC), a major shareholder in Telefonica (TEF.MC), will analyse with the telecoms group any potential cooperation with STC after the Saudi telecoms firm's recent investment in Telefonica, the bank's CEO said on Friday. Caixabank has a 3.5% stake in Telefonica and a seat on its board. "Very particularly, we have to see what possibilities (Telefonica) has to cooperate with this great company, due to its size and relevance, which is STC," Gortazar said, adding Caixabank would seek to express its views on the matter at board-level discussions. As Telefonica is considered a defence service provider, Spain's Defence Ministry has a say in acquisitions and holdings between 5% and 10%, unless the buyer commits not to request a seat on the board. STC, which has yet to request authorisation from the Spanish government to exercise voting rights corresponding to the financial instruments, has said it does not intend to acquire control or a majority stake in Telefonica.

Persons: Violeta Santos Moura, Gonzalo Gortazar, Caixabank, Gortazar, Jesús, Andrei Khalip, Mark Potter Organizations: Spanish Telecom, REUTERS, Rights, Telefonica, Saudi, STC Group, Spain's Defence Ministry, STC, Thomson Locations: Madrid, Spain, Rights MADRID, Saudi

☆ Saudi is wild card in Middle East’s new turmoil
▼ + stars: | 2023-10-18 | by ( George Hay | ) www.reuters.com time to read: +8 min

Saudi Crown Prince Mohammed bin Salman attends the 18th consultative meeting of the leaders of the GCC & the Gulf summit with the central Asian countries C5, in Jeddah, Saudi Arabia, July 19, 2023. Saudi Press Agency/Handout via REUTERS Acquire Licensing RightsLONDON, Oct 18 (Reuters Breakingviews) - Mohammed bin Salman is the wild card in the Middle East’s new conflict. Saudi Arabia also needs prices above $85 a barrel in order to balance its budget. Saudi Arabia also needs to consider the views of international investors, though. For now, Saudi Arabia can count on the support of global bankers and fund managers.

Persons: Prince Mohammed bin Salman, Mohammed bin Salman, Joe Biden, Benjamin Netanyahu, Israel’s, Biden, Netanyahu, International Energy Agency reckons, Jamal Khashoggi, nix, Larry Fink, JPMorgan’s, Jamie Dimon, Israel, Antony Blinken, Jordan, ” Blinken, ”, “, Hossein Amirabdollahian, Al Jazeera, Peter Thal Larsen, Oliver Taslic Organizations: GCC, Saudi Press Agency, Handout, REUTERS Acquire, Reuters, Hamas, Israel . U.S, MbS, United, Gaza, International Energy Agency, Reuters Graphics Reuters, Saudi, kingdom’s Public Investment Fund, U.S, PGA, Foreign Investment, Telefonica, STC, BlackRock’s, Future Investment, United States, Diplomats, don’t, Palestinian, Israeli, United Arab, Iran’s, Thomson Locations: Saudi, Jeddah, Saudi Arabia, Israel, Iran, Palestinian, Israel ., United States, Gaza, OPEC, Russia, Saudi Aramco, Riyadh, Palestine, United, Amman, Jordan, Bahrain, Qatar, United Arab Emirates, Egypt, Lebanon, America

As Telefonica's rivals slashed prices to attract internet users, the Spanish company also borrowed to invest in new mobile and internet networks. But the secrecy with which STC (7010.SE) built its stake did catch some observers off guard, the person said. Telefonica said it was informed Tuesday about STC'S investment, after the companies had become more acquainted in recent months. STC sought to keep the stake under wraps until it could buy at least 9.9% of Telefonica, the person said. Middle Eastern investors have been taking stakes in Spanish companies for some time.

Persons: Violeta Santos Moura, Jose Maria Alvarez, Pallete, Alvarez, Prince Mohammed bin Salman's, UGT, Morgan Stanley, Linklaters, Motaz Al Angari, Al Angari, pare, EFG Hermes, Nadia Calvino, Inti Landauro, Tomas Cobos, Amy, Jo Crowley, Pablo Mayo, John O'Donnell, Anousha, Elisa Martinuzzi, David Gregorio, Ros Russell Organizations: Spanish Telecom, REUTERS, Rights, Telefonica, STC Group, STC, Saudi Arabia's Public Investment Fund, Foresight, Saudi, United Arab, Vodafone, Thomson Locations: Madrid, Spain, Rights DUBAI, MADRID, Silicon Valley, Saudi, Riyadh, Telefonica, Saudi Arabia, Spanish, Latin America, theocracies, United Arab Emirates, Iberdrola, Davos, Gulf, London

He learned Saudi Arabia's largest telecoms operator, STC Group, aimed to be Telefonica's biggest shareholder, with an interest of 9.9%. The move is a vote of confidence in Telefonica, burdened by billions of dollars in debt while STC gains expertise to modernize Saudi telecoms infrastructure. As Telefonica's rivals slashed prices to attract internet users, the Spanish company also borrowed to invest in new mobile and internet networks. STC sought to keep the stake under wraps until it could buy at least 9.9% of Telefonica, the person said. Middle Eastern investors have been taking stakes in Spanish companies for some time.

Persons: Violeta Santos Moura, Jose Maria Alvarez, Pallete, Alvarez, Prince Mohammed bin Salman's, UGT, Morgan Stanley, Linklaters, Motaz Al Angari, Al Angari, pare, EFG Hermes, Inti Landauro, Tomas Cobos, Amy, Jo Crowley, Pablo Mayo, John O'Donnell, Anousha, Elisa Martinuzzi, David Gregorio Our Organizations: Spanish Telecom, REUTERS, Rights, Telefonica, STC Group, STC, Saudi Arabia's Public Investment Fund, Foresight, Saudi, United Arab, Vodafone, Thomson Locations: Madrid, Spain, Rights DUBAI, MADRID, Silicon Valley, Saudi, Riyadh, Telefonica, Saudi Arabia, Spanish, Latin America, theocracies, United Arab Emirates, Iberdrola, Davos, Gulf, London

☆ European stocks extend losses as economic slowdown jitters weigh
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 4, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsSept 6 (Reuters) - European stocks extended losses for a sixth consecutive session on Wednesday as worries about global economic slowdown and higher crude prices spurring inflationary pressures weighed on risk sentiment. The pan-European STOXX 600 index (.STOXX) slipped 0.5% by 0713 GMT, hovering near a one-week low. While oil prices pulled back slightly, government bond yields continued to rise, with the German 10-year yield jumping to two-week highs. Further denting the mood, German industrial orders fell more than expected in July, the federal statistics office said.

Persons: Sruthi Shankar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, Telefonica, Saudi Arabia's STC, Spanish, Thomson Locations: Frankfurt, Germany, Saudi Arabia, Russia, Bengaluru

☆ Saudi Arabia's STC Group acquires 9.9% stake in Telefonica
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

The logo of Spanish Telecom company Telefonica is seen next to a traffic ligth at its headquarters in Madrid, Spain, May 12, 2021. REUTERS/Sergio Perez/File Photo Acquire Licensing RightsLONDON, Sept 5 (Reuters) - Saudi Arabia's STC Group has amassed a 9.9% stake in Spanish telecoms giant Telefonica (TEF.MC) for 2.1 billion euros ($2.25 billion) in shares and financial instruments, STC said on Tuesday. STC does not intend to acquire majority control of Telefonica, it added in a statement. STC is Saudi Arabia's largest telecoms operator and also owns subsidies and has stakes in companies operating in Kuwait and Bahrain. It is 64% owned by Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), the main engine of Crown Prince Mohammed bin Salman's Vision 2030 to wean the economy off its dependence on oil.

Persons: Sergio Perez, Prince Mohammed bin Salman's, Pablo Mayo Cerqueiro, Jonathan Oatis, Richard Chang Organizations: Spanish Telecom, Telefonica, REUTERS, Saudi Arabia's, Saudi, Public Investment Fund, Thomson Locations: Madrid, Spain, Kuwait, Bahrain, Saudi, Europe

☆ How Jeffrey Epstein turned the US Virgin Islands into a pedophile's playground and helped elect a sitting member of Congress
▼ + stars: | 2023-06-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +21 min

Court filings show how Jeffrey Epstein exerted power in the US Virgin Islands, two of which he owned. A financier worth hundreds of millions of dollars, Epstein owned two islands in the US Virgin Islands (there are roughly 50 islands overall). He had donated generously to Democratic politicians from the US Virgin Islands for years. With the assistance of the US Virgin Islands' first lady, Epstein navigated the territory's political waters unscathed. The court records show that, at least in the US Virgin Islands, he exerted influence with little friction.

Persons: Jeffrey Epstein, Stacey Plaskett, —, Plaskett, Epstein, James, Lesley Groff, Scott Applewhite, Stacey, Thomas, didn't, Groff, maxed, Shawn, Michael Malone, Gabriel Lopez Albarran, Cecile de Jongh, John de Jongh Jr, de Jongh, Malone, De Jongh, Darren Indyke, Richard Kahn, Kahn, Groff didn't, Stuart McPhail, McPhail, Jeffrey Epstein's, Erika Kellerhals, Hi Jeffrey, Rick Friedman, Corbis, de, JPMorgan Chase, Ghislaine Maxwell, Epstein's, Maxwell, She's, Mary Erdoes, Jamie Dimon's, Jes Staley, Epstein's thrall, Jongh, Denise George, Albert Bryan Jr, Bryan, Jed Rakoff, Emily Michot, Bill Clinton, Donald Trump, Prince Andrew, Trump's, De, Epstein doled, John de Jongh's, Kenneth Mapp, John de Jongh, John, wasn't Organizations: Virgin Islands, Service, Democratic, US, Islands, Democratic Congressional, AP, Federal, Commission, Democratic Party, Virgin Islands Economic Development Authority, Southern Trust Co, de, Indyke, Democrat, Getty Images JPMorgan, US Virgin Islands, JPMorgan, Virgin, Hyperion, Barclays, Authorities, United States Virgin Islands, Virgin Islands Senate, Gov, New York Times, US Virgin, Deutsche Bank, U.S ., Miami Herald, Tribune, Getty, Federal Government, Mapp's PAC Locations: Virgin, Washington, Puerto Rico, Little St, Palm Beach , Florida, St, Croix, Manhattan, Islands, US Virgin, New York, U.S, U.S . Virgin Islands, Jongh, Tortola

☆ Saudi Arabia's TAWAL to buy European towers from United Group
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

DUBAI, April 20 (Reuters) - TAWAL, a unit of Saudi Telecom Company (stc) (7010.SE), agreed to buy tower infrastructure worth 1.22 billion-euros ($1.34 billion) from United Group in its first foray into Europe's telecoms market, the southeast European firm said on Thursday. TAWAL, a tower infrastructure unit that STC carved out in 2018, will buy the mobile infrastructure unit of United Group in Bulgaria, Croatia and Slovenia, which has more than 4,800 towers, United Group said in a statement. United Group, backed by private equity firm BC Partners, said it was TAWAL's first investment in Europe's telecoms sector. "Upon completion, TAWAL's operations in the European market will be rebranded as "TAWAL Europe" and will serve as TAWAL's platform for any future expansion in Europe," stc said. ($1 = 0.9119 euros)Reporting by Yousef Saba; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ Houthis try to reassure skeptics they won’t seek full control of Yemen, as Saudis eye exit
▼ + stars: | 2023-04-14 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +8 min

“If we were not looking for full control during the war, then we will not look for full control at any other time,” al-Houthi told CNN. It spiraled into a wider war in 2015 when a Saudi-led coalition intervened in an attempt to beat back the Houthis. A Saudi delegation arrived in Sanaa on Sunday for talks with the Houthis aimed at securing a permanent ceasefire. The Houthi leader told CNN he expected Saudi Arabia to ensure the departure of all foreign forces, including the UAE, from the country. “We are in agreement (with the Saudis) that we need all foreign forces to leave Yemen,” he said.

[1/4] Head of the Houthi Supreme Political Council, Mahdi al-Mashat, meets with Saudi and Omani delegations at the Republican Palace in Sanaa, Yemen April 9, 2023. Another Houthi official, Abdulmalik Alejri, said on Twitter that "with determination and honest intentions remaining difficulties can be resolved". STICKING POINTSTwo Yemeni sources, also speaking on condition of anonymity, said the parties could agree on an extended truce deal as they work out remaining differences. The United Nations and the PLC are not directly part of the Saudi-Houthi talks. The PLC was created to solidify the anti-Houthi bloc but has been beset by differences among Yemeni factions.

NEW YORK, March 29 (Reuters) - Fidelity National Financial Inc (FNF.N) will pay $3.5 million to settle New York Attorney General Letitia James' claims that the largest U.S. title insurer illegally conspired with rivals not to solicit each other's employees. Under an agreement made public on Wednesday, Fidelity also agreed to end all "no-poach" agreements within 30 days, and cooperate with James' probe into the title insurance industry. James said no-poach agreements, whether written or oral, reduce competition for workers, resulting in lower wages and benefits and impeding career growth. It promised to notify James' office if it learned of illegal no-poach agreements over the next 10 years. Reporting by Jonathan Stempel in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Hundreds of foreign soldiers to help train Ukrainian troops in Germany, general says
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +3 min

Marlow's Special Training Command (STC) is part of a European Union military mission set up in November to train up to 30,000 Ukrainian troops in various skills to help Kyiv fight off Russia's year-old invasion. Courses in various European countries range from basic training to the operation of modern battle tanks such as the Leopard 2, air defence systems, rocket launchers and howitzers. Poland is another major training hub while Spain, France, the Czech Republic, Slovakia, Romania and Italy are also running courses. Beyond the EU mission, U.S. and British troops are training Ukrainian troops in Europe as well. Marlow said he was impressed by the quick wits, skills and commitment of the Ukrainian troops.

☆ JPMorgan and the US Virgin Islands are blaming each other in court for failing to stop Jeffrey Epstein's sex-trafficking scheme
▼ + stars: | 2023-02-02 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

The US Virgin Islands is suing JPMorgan for facilitating Jeffrey Epstein's sex-trafficking scheme. The finger-pointing comes in response to a lawsuit the US Virgin Islands attorney general filed against JPMorgan in December, in a Manhattan federal court. In court filings Wednesday asking a judge to dismiss the US Virgin Islands lawsuit, JPMorgan said the US territory got greedy after already reaching a settlement with Epstein's estate last year. If anything, JPMorgan claims, the Virgin Islands attorney general's office was in an even better position to stop Epstein's trafficking scheme given its powers as a law enforcement agency. In fact, JPMorgan says, the Virgin Islands government "granted Epstein and his businesses lucrative privileges and massive tax incentives."

☆ Gulf states, looking East, to reinforce economic ties with China as Xi visits Saudi
▼ + stars: | 2022-12-06 | by ( Rachna Uppal | ) www.reuters.com time to read: +5 min

Saudi Arabia is China's top oil supplier, making up 18% of China's total crude oil purchases, and state-run Saudi Aramco has annual supply deals with half a dozen Chinese refiners. Outside energy, Gulf Cooperation Council (GCC) states provide markets for Chinese goods, construction contracts and investment opportunities in infrastructure, manufacturing and digital economies that fit Beijing's Belt and Road Initiative. Saudi Arabia and the UAE are also investing in future technologies as a pillar of economic diversification, which has gained impetus in a global transition away from fossil fuels. Online giant Alibaba has partnered with STC Group for cloud services in Saudi Arabia. BALANCING ACTHow Saudi Arabia and other Gulf states handle both Chinese and Western supply chains in sensitive areas like critical national infrastructure is likely to remain a point of friction with key security partner the United States, analysts say.

☆ Saudi Arabia's PIF reduces majority stake in Saudi Tadawul Group
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Nov 13 (Reuters) - Saudi Arabia's Public Investment Fund has sold a 10% stake in stock exchange operator and owner Saudi Tadawul Group through a secondary share offering, raising 2.3 billion riyals ($612 million), it said in a statement on Sunday. The sovereign wealth fund with over $600 billion in assets said it sold 12 million shares through an accelerated bookbuild offering. The fund's remaining stake amounts to 72 million shares or 60% of the company, it said. PIF is the main engine of Crown Prince Mohammed bin Salman's Vision 2030 plan to wean the economy off its dependence on oil. It sold a 6% stake in Saudi Telecom (STC) for 12 billion riyals ($3.2 billion) in December last year.

Cel puțin cinci persoane au fost ucise și alte zeci au fost rănite, a declarat o sursă din aparatul de securitate pentru Reuters, citată de BBC News. Se pare că premierul Maeen Abdulmalik Saeed și membrii cabinetului au scăpat nevătămați și au fost transportați în siguranță într-o clădire prezidențială. Ministrul informației a declarat că exploziile au fost rezultatul unui „atac terorist” al rebelilor Houthi. Se presupune că STC sunt aliați în războiul civil împotriva mișcării Houthi, care controlează capitala Sanaa și o mare parte din nord-vestul Yemenului. Yemenul a fost devastat de un conflict care a escaladat în 2015, când o coaliție de state arabe conduse de Arabia Saudită a lansat o operațiune militară pentru a-i învinge pe houthi și a restabili controlul președintelui Hadi.

Persons: Reuters, Saeed Organizations: BBC News Locations: Sanaa, Yemenului, Yemenul, Arabia Saudită

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