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☆ Belgium charges four people in European Parliament corruption probe
▼ + stars: | 2022-12-11 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

Prosecutors searched 16 houses and seized 600,000 euros ($631,800) in Brussels on Friday as part of an investigation into money laundering and corruption. The European Parliament said at the weekend it had suspended the powers and duties of one of its vice presidents, Greek socialist Eva Kaili, in light of the Belgian investigation. Belgian Socialist party member Marc Tarabella confirmed it was his home and that a computer and mobile phone had been taken. "If it were confirmed that someone took money to try to influence the opinion of the European Parliament, it will really be one of the most dramatic stories of corruption in recent years," he added. The European Parliament is due to vote this week on a proposal to extend visa-free travel to the EU for Kuwait, Qatar, Oman and Ecuador.

☆ Cristiano Ronaldo leaves World Cup in tears as chances to win title are shattered by Morocco
▼ + stars: | 2022-12-10 | by ( Ben Morse | ) edition.cnn.com time to read: +1 min

CNN —Cristiano Ronaldo left the 2022 World Cup in tears as his chances to win the tournament for the first time in his career were shattered after his Portugal team was shocked 1-0 by Morocco in the quarterfinals on Saturday. It’s likely Ronaldo’s final appearance at a World Cup as he began Portugal’s round of 16 and quarterfinal games as a substitute after being benched by the team’s coach Fernando Santos. Ronaldo’s appearance was the 196th of his Portugal career equaling Bader Al-Mutawa of Kuwait for the most caps in men’s international football history. If it is to be Ronaldo’s final appearance at a World Cup, he has certainly made his mark on the tournament over the years. In his 22 games at the finals, Ronaldo scored eight goals and earlier in this year’s tournament, the 37-year-old became the first men’s player to score in five World Cups.

Leaders of Arab League states spanning the Gulf, Levant and Africa began arriving in Riyadh on Thursday when Xi received a lavish reception by Prince Mohammed and signed a China-Saudi partnership pact with King Salman, demonstrating deepening ties. Oil giant Saudi Arabia is a top supplier to China and the joint statement reaffirmed the importance of global market stability and energy collaboration, while striving to boost non-oil trade and enhance cooperation in peaceful nuclear power. Xi invited King Salman to visit China, Saudi state television reported. Diplomats said the Chinese delegation would sign agreements and memoranda of understanding with several states in addition to Saudi Arabia, which inked an MOU with Huawei on cloud computing and building high-tech complexes in Saudi cities. The Chinese tech giant has participated in building 5G networks in most Gulf states despite U.S. concerns over a possible security risk in using its technology.

CNN —Eva Kaili, one of the European Parliament’s vice presidents, has been expelled by her political party in Greece amid a corruption probe. In a statement, the prosecutor said that for two years, Belgian federal police inspectors “suspected a country from the Persian Gulf of influencing economic and political decisions of the European parliament,” according to RTBF. The Belgian police suspect that the country transferred “consequential sums of money” or “important gifts” to significant actors within the European Parliament, according to RTBF. The federal prosecutor did not identify the vice president but said they were one of four individuals taken in for questioning. Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates all surround the Persian Gulf.

"It is unlikely there will be any change to the policy," an OPEC+ source said. Talks begin on Saturday when OPEC ministers hold a virtual meeting at 1100 GMT. Some OPEC+ delegates and analysts are not ruling out a surprise at Sunday's meeting. JPMorgan, in a report this week, said OPEC+ was likely to hold the line at the meeting while leaving the door open to a cut of more than 500,000 bpd if demand deteriorates further. Reporting by Alex Lawler, Maha El Dahan, Ahmad Ghaddar and Rowena Edwards; Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ India's 2022 remittances on track for record $100 billion, says World Bank
▼ + stars: | 2022-12-01 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

Asia’s third largest economy is on track to receive more than $100 billion in yearly remittances in 2022, according to a World Bank report published Wednesday. India had received $89.4 billion in remittances in 2021, according to the World Bank, making it the top recipient globally last year. “Remittance flows to India were enhanced by the wage hikes and a strong labor market in the United States,” and other rich countries, the bank said. Apart from India, the other top recipient countries for remittances in 2022 are expected to be Mexico, China, and the Philippines. Globally, remittances to low and middle income nations are expected to grow an estimated 5% to $626 billion this year, it added.

☆ Oil prices climb on big drop in U.S. crude stocks, Russia supply uncertainty
▼ + stars: | 2022-11-23 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose in early trade on Wednesday after industry data showed U.S. crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil. Uncertainty over how Russia will respond to plans by the Group of Seven (G7) nations to cap Russian oil prices further supported the market, analysts said. Buoying prices on Wednesday, U.S. crude inventories fell by about 4.8 million barrels for the week ended Nov. 18, data from the American Petroleum Institute showed, according to market sources. Analysts polled by Reuters on average had expected a 1.1 million barrel drawdown in crude inventories. However, on a bearish note, API data showed distillate stocks, which include heating oil and jet fuel, rose by about 1.1 million barrels compared with analysts' expectations for a drop of 600,000 barrels.

☆ Oil rises as Saudi comments outweigh recession concerns
▼ + stars: | 2022-11-22 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

"Crude oil prices are trying to recover their losses," said Avatrade analyst Naeem Aslam. "That Saudi Arabia has denied there was any discussion about an increase in oil supply with OPEC and its allies has supported the market today." On Dec. 5. a European Union ban on Russian crude imports is set to start, as is a G7 plan that will allow shipping services providers to help to export Russian oil, but only at enforced low prices. Concerns over oil demand in the face of the U.S. Federal Reserve's interest rate hikes and China's strict COVID lockdown policies limited the upside. Additional reporting by Laura Sanicola and Isabel Kua Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ 5 men and 2 women were put to death in a rare mass execution in Kuwait
▼ + stars: | 2022-11-19 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

The Kuwait government hanged seven prisoners in the first mass execution in five years. Those killed included three Kuwaiti men, a Kuwaiti woman, a Syrian man, a Pakistani man, and an Ethiopian woman. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyThe Kuwait government put to death seven prisoners in the first mass execution in five years. The state-run news agency KUNA news has said that those killed include three Kuwaiti men, a Kuwaiti woman, a Syrian man, a Pakistani man, and an Ethiopian woman. The last mass execution happened in 2017 when seven prisoners — including a member of the Kuwaiti royal family — were hanged in the oil-rich state, AP reported at the time.

☆ Qatar 2022: World Cup fans acclimatise to desert accommodation -- in tents and portacabins
▼ + stars: | 2022-11-18 | by ( Ben Church | ) edition.cnn.com time to read: +6 min

Doha, Qatar CNN —As fans trickle into Qatar, they’re understandably in holiday mode as they look forward to the prospect of a desert World Cup. But where best to stay in a country that is geographically on a peninsula smaller than Connecticut and is the smallest World Cup host in history? Container living in the desert ... World Cup style. Some World Cup visitors, however, were less impressed with what was on offer. With just two days to go until the first match, the nation is putting the final touches to its preparations as it braces itself for a World Cup like no other.

Last decade 2100 scenarios LOW EMISSIONS By 2100, Basra would see almost six months of dangerous heat under the most likely scenario. MEDIUM EMISSIONS HIGH EMISSIONS Jan. July Jan. July Dec. Dec. Heat Index 80°F Caution 90°F Extreme Caution 103°F Danger 125°F Extreme Danger Basra Kuwait City Last decade 2100 scenarios Lower emissions Medium emissions Higher emissions Jan. July Jan. July Dec. Dec. Heat Index 80°F Caution 90°F Extreme Caution 103°F Danger 125°F Extreme Danger Basra Last decade 2100 emissions scenario LOW Medium HIGH Jan. July Dec. Kuwait City Last decade 2100 emissions scenario LOW Medium HIGH Jan. July Dec. Heat Index 80°F Caution 90°F Extreme Caution 103°F Danger 125°F Extreme Danger Basra Last decade 2100 emission scenarios Low Medium High Jan. July Dec. Kuwait City Last decade 2100 emission scenarios Low Medium High Jan. July Dec. Heat Index 80°F Caution 90°F Extreme Caution 103°F Danger 125°F Extreme Danger Kuwait City Basra Today, Basra experiences about 60 dangerously hot days per year. MEDIUM EMISSIONS HIGH EMISSIONS Jan. July Jan. July Dec. Dec. Heat Index 27°C Caution 32°C Extreme Caution 39°C Danger 52°C Extreme Danger Basra Kuwait City Last decade 2100 scenarios Lower emissions Medium emissions Higher emissions Jan. July Jan. July Dec. Dec. Heat Index 27°C Caution 32°C Extreme Caution 39°C Danger 52°C Extreme Danger Basra Last decade 2100 emissions scenario LOW Medium HIGH Jan. July Dec. Kuwait City Last decade 2100 emissions scenario LOW Medium HIGH Jan. July Dec. Heat Index 27°C Caution 32°C Extreme Caution 39°C Danger 52°C Extreme Danger Basra Last decade 2100 emissions scenario Low Medium High Jan. July Dec. Kuwait City Last decade 2100 emissions scenario Low Medium High Jan. July Dec. Heat Index 27°C Caution 32°C Extreme Caution 39°C Danger 52°C Extreme Danger Kuwait City Basra Today, Basra experiences about 60 dangerously hot days per year. Last decade 2100 scenarios LOW EMISSIONS By 2100, Basra would see almost six months of dangerous heat under the most likely scenario. MEDIUM EMISSIONS HIGH EMISSIONS Jan. July Jan. July Dec. Dec.

☆ Belgium captain Hazard keen to prove doubters wrong in Qatar
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Nov 14 (Reuters) - Eden Hazard believes he has a lot to offer Belgium at the World Cup and is confident he can prove his detractors wrong as the midfielder ruled out an imminent departure from Real Madrid. Hazard, going to the global showpiece tournament for the third time, is Belgium captain but has barely played for Real this season after falling out of favour under coach Carlo Ancelotti. This will be my third World Cup and I want to show that Belgium can still count on its captain and that I want to give everything (for the team). "I don't want to leave Real. Maybe things will look different (for me there) after the World Cup," Hazard said.

☆ ITA Airways to expand fleet with 39 new aircraft in 2023
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

ROME, Nov 11 (Reuters) - ITA Airways will next year refresh its fleet with 39 new aircraft, allowing it to serve more long-distance destinations, the state-owned successor to Alitalia said on Friday. ITA "has underwritten all the commitments for increasing the fleet in 2023, next year 39 new generation aircraft will enter into service" including nine wide-bodied Airbus A330-900, the company said in a statement. Older aircraft will discontinue service, ITA said, stating that the upgrade will mean a 73% increase in the ASK (available seat kilometre) metric, measuring passenger carrying capacity. By the end of 2023, ITA said it will have 96 planes, half of which will be new, including the single-aisle A321Neo. ITA was established in late 2020 from the ashes of bankrupt Alitalia, and has yet to turn a profit.

☆ Gulf Arab states can’t give up oil. But they can slash their emissions
▼ + stars: | 2022-11-11 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +15 min

Abu Dhabi CNN —As Western states try to wean themselves off their addiction to hydrocarbons, Gulf oil nations have been pushing back hard, warning that a hasty transition away from fossil fuels will be counterproductive. According to the World Bank, Qatar had the highest carbon emissions per capita as of 2019, followed by Kuwait, Bahrain, the United Arab Emirates and Saudi Arabia. So, investment in clean energy projects and renewables “makes very good business sense and PR sense for the Gulf,” he said. Gulf petro-states are warning against a quick transition away from hydrocarbons, with the UAE calling for a “mixed energy” approach that minimizes emissions without cutting hydrocarbons. Much of the hydrocarbons exported by Gulf states go to some of the world’s biggest consumers and polluters, including China and India.

Rep. Dina Titus defeated Republican Mark Robertson in Nevada's 1st Congressional District. RenoNorth Las Vegas MayorLongtime Democratic Rep. Dina Titus won another bid for reelection against Republican Mark Robertson in Nevada's 1st Congressional District. 2022 General EmbedsNevada's 1st Congressional District candidatesTitus is serving her 6th term in the US House of Representatives. In 2013, Titus returned to Congress after winning in the 1st Congressional District. Voting history for Nevada's 1st Congressional DistrictOnce in the heart of Las Vegas, Nevada's 1st Congressional District now encompasses more of Clark County.

Mandatory credit Kyodo/via REUTERSSummarySummary Companies Oil prices rise to highest levels since late AugustWSJ: China weighs gradual Zero-COVID exit without timelineChina's crude oil imports rebound amid refinery rolloutsNEW YORK, Nov 7 (Reuters) - Oil prices fell on Monday, paring gains after rising to more than two-month highs, on mixed signals over China, the world's top crude importer, potentially relaxing its strict COVID-19 restrictions. Brent crude futures fell 65 cents to settle at $97.92 a barrel. Earlier in the session, they rose to a session high of $99.56 a barrel, the highest since Aug. 31. However, weighing on futures, Chinese health officials at the weekend reiterated their commitment to strict COVID containment measures. Meanwhile, China's imports and exports contracted unexpectedly in October, but its crude oil imports rebounded to the highest level since May.

☆ Oil prices slide as hopes for China demand rebound fade
▼ + stars: | 2022-11-07 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

Mandatory credit Kyodo/via REUTERSCompanies Sumitomo Chemical Co Ltd FollowSINGAPORE, Nov 7 (Reuters) - Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world's top crude importer. Brent crude futures dropped $1.20, or 1.2%, to $97.37 a barrel by 0227 GMT, after hitting as low as $96.50 earlier. "Oil prices dropped sharply as the Chinese officials vowed to stick to the COVID-zero policy while infected cases climbed in China, which may cause more restrictions measures, darkening the demand outlook," CMC Markets analyst Tina Teng said. A jump in the U.S. dollar is also weighing on oil prices, she added. Oil prices are underpinned by expectations of tighter supplies as the European Union's embargo on Russia's seaborne crude exports will start on Dec. 5 while refineries worldwide are ramping up output to meet strong diesel demand.

☆ From Russia with cash: Georgia booms as Russians flee Putin's war
▼ + stars: | 2022-11-05 | by ( Jake Cordell | ) www.reuters.com time to read: +8 min

The European Bank for Reconstruction and Development (EBRD), for example, predicted in March the Ukraine conflict would deal a major blow to the Georgian economy. "On the contrary, we see the Georgian economy growing quite well this year, double digits." Business leaders also worry that the country could face a hard landing should the war end and Russians return home. TO GEORGIA WITH $1 BILLIONGeorgia itself fought a short war with Russia in 2008 over South Ossetia and Abkhazia, territories controlled by Russian-backed separatists. 'THE CRISIS COULD HIT'TBC's Butskhrikidze said he saw potential in the new arrivals to fill skills gaps in the Georgian economy.

☆ Christian monastery possibly pre-dating Islam found in UAE
▼ + stars: | 2022-11-03 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

An ancient Christian monastery possibly dating as far back as the years before Islam spread across the Arabian Peninsula has been discovered on an island off the coast of the United Arab Emirates, officials announced Thursday. The monastery on Siniyah Island, part of the sand-dune sheikhdom of Umm al-Quwain, sheds new light on the history of early Christianity along the shores of the Persian Gulf. On one, to the island’s northeast, archaeologists discovered the monastery. Viewed from above, the monastery on Siniyah Island’s floor plan suggests early Christian worshippers prayed within a single-aisle church at the monastery. Power said that development spurred the archaeological work that discovered the monastery.

☆ 5 weapons that have allowed Ukrainian troops to turn the tables on Russia's military
▼ + stars: | 2022-11-02 | by ( Peter Suciu | ) www.businessinsider.com time to read: +6 min

Since Moscow attacked in February, Ukrainian troops have halted and pushed back Russian forces. FGM-148 JavelinA soldier with a Javelin anti-tank missile in a Ukrainian Independence Day parade in Kyiv in 2018. T-72 main battle tankUkrainians load a Russian T-72 onto a truck outside the town of Izyum on September 24. However, it has been Moscow that has inadvertently provided scores of the T-72 to Ukraine — as Russian tank crews have abandoned their tanks. REUTERS/Gleb GaranichAnother weapon that has been seen as critical in the Ukrainian war effort is the lightweight M777 155mm howitzer.

☆ Most Gulf central banks raise interest rates after Fed's move
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Hamad I MohammedDUBAI, Nov 2 (Reuters) - Most Gulf states said on Wednesday they would increase their key interest rates after the Federal Reserve raised its key policy rate by three-quarters of a percentage point for the fourth straight time. Saudi Arabia and the United Arab Emirates, the region's two largest economies, both increased rates by 75 basis points. The Saudi central bank, also known as SAMA, lifted its repo and reverse repo rates to 4.5% and 4%, respectively. Bahrain also raised its main rate by 75 basis points while Qatar increased rates by between 50 and 75 basis points. The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited.

☆ Jazeera Airways plans to get around $2 bln from banks for Airbus deal
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: 1 min

KUWAIT, Oct 31 (Reuters) - Jazeera Airways is planning to get around $2 billion from commercial banks to fund 70% of a deal it has with Airbus (AIR.PA) for 28 A320neo airliners, the Kuwaiti carrier's chairman told Reuters on Monday. Reporting by Ahmed Hagagy; writing by Lina Najem; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ OPEC expected to stick to view of long-term oil demand rise
▼ + stars: | 2022-10-28 | by ( Alex Lawler | ) www.reuters.com time to read: +4 min

The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts in its 2022 World Oil Outlook on Oct. 31. The 2021 version sees oil demand plateauing after 2035. The latest update is likely to keep OPEC among the more optimistic forecasters of oil demand. OPEC World Oil Outlook 2021"It is similar to last year in terms of the demand outlook," one of the OPEC sources said. LOWER PROJECTIONSLast year, OPEC saw oil demand reaching 108.2 million barrels per day in 2045, up from 90.6 million bpd in 2020.

NBC News, in collaboration with the International Consortium of Investigative Journalists, The Washington Post, and Arab Reporters for Investigative Journalism, interviewed more than 40 current and former employees of contractors at military bases. According to an NBC News analysis, at least 10 companies with substantiated trafficking violations since 2007 have received billions in new government contracts. ‘Mad scramble’Foreign workers are crucial for the more than 700 military bases with U.S. service members around the world. One company that continues to get work at Middle East bases despite past violations documented in an Army compliance agreement is Tamimi, Abdulla’s employer. Lusambu Karim, a 50-year-old Ugandan, told NBC News about trafficking violations he said he encountered working for Aegis in Afghanistan from 2018 to 2020.

Barrack, 75, is charged with acting as an unregistered foreign agent and lying to the FBI. Prosecutors said UAE officials also pressed Barrack for details on who Trump would pick for various high-level jobs, including CIA director and at the State and Defense departments. Barrack's lawyers have said their client is his own man and was doing what he thought was right — not acting as an Emirati agent. Even viewed in the light most favorable to the government, the evidence shows only that the 'UAE' sometimes asked Mr. Barrack to do something, or to consider doing something, and Mr. Barrack then decided for himself whether he would do it or not." He said that Barrack had pushed him to convince then-President Trump to support Qatar in a blockade over the UAE.

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