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☆ Iran foreign minister to visit Saudi Arabia on Thursday -state TV
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Iranian Foreign Minister Hossein Amirabdollahian is seen before a meeting with Japanese Prime Minister Fumio Kishida (not in picture) at Kishida's official residence in Tokyo, Japan August 7, 2023. REUTERS/Issei Kato/Pool/file photo Acquire Licensing RightsDUBAI, Aug 17 (Reuters) - Iran Foreign Minister Hossein Amirabdollahian will visit Saudi Arabia on Thursday, Iran state TV reported on Thursday. In June, Saudi Arabian Foreign Minister Prince Faisal bin Farhan met with Iranian officials in Tehran on his first visit to the country after the resumption of diplomatic ties with the Islamic republic in March. In March, Iran and Saudi Arabia agreed in a China-brokered deal to end a diplomatic rift and reestablish relations following years of hostility that had endangered regional stability in the Gulf, as well as in Yemen, Syria and Lebanon. Saudi Arabia broke ties with Iran in 2016 after protesters attacked its embassy in Tehran in retaliation for Riyadh's execution of a prominent Shiite cleric.

Persons: Hossein Amirabdollahian, Fumio Kishida, Issei Kato, Prince Faisal bin Farhan, Tom Hogue Organizations: Iranian, Japanese, REUTERS, Rights, Saudi Arabian Foreign, Dubai Newsroom, Thomson Locations: Tokyo, Japan, Iran, Saudi Arabia, Saudi, Tehran, China, Yemen, Syria, Lebanon

☆ Media insiders say ESPN's new sports-betting push could help it court a younger crowd and set up a spinoff from Disney
▼ + stars: | 2023-08-14 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Industry insiders say ESPN's deal with Penn Entertainment could signal a potential ESPN spinoff from Disney. Disney announced a $2 billion deal with casino operator Penn Entertainment to create ESPN Bet. ESPN's $2 billion Penn Entertainment deal rocked the sports-betting world — and also renewed speculation among industry insiders that Disney could spin off its media crown jewel. For ESPN, it's not as material, but it's helpful — ESPN has locked in a 10-year partner with guaranteed pay so that improves the visibility of ESPN's revenue. To be sure, some industry watchers have questioned how the deal positions ESPN's ability to catch up in the sports-betting race.

Persons: Bob Iger, Jonathan Miller, Penn, Alex Iosilevich, it's, It's, Iger, — DraftKings, sportsbooks, LightShed, Peyton Manning's, Ashley Rodriguez Organizations: Industry, Penn Entertainment, ESPN, Disney, ESPN Bet, what's, Hearst, CNBC, NFL, NBA, MLB, Integrated Media Co, Caesars Entertainment, Penn, LightShed Partners, American Gaming Association, Amazon, Comcast, Peyton Manning's Omaha Productions, Front Office Sports Locations: Saudi

☆ Saudi Arabia's Ma'aden profit sinks 91% on lower prices, higher costs
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Aug 13 (Reuters) - Saudi Arabian Mining Company (1211.SE), known as Ma'aden, said on Sunday its second-quarter profit tumbled more than 90% on lower sales prices and higher expenses as it flagged a mixed outlook for its products. That missed analysts' average estimate of 577.6 million riyals in net profit for the second quarter, according to Refinitiv data. "We are beginning to see an improvement in raw material pricing and, despite the challenging market environment, remain well placed to meet the growing long-term demand for our products," Ma'aden Chief Executive Robert Wilt said in a statement. Ma'aden expected prices of ammonia to remain stable in the third quarter "as supply tightness continues to provide marginal upside." Ma'aden sees gold trading in its current range for the rest of the year and raw material prices continuing to ease, "supporting profitability."

Persons: Ma'aden, Robert Wilt, Yousef Saba, Bernadette Baum Organizations: Saudi Arabian Mining Company, Thomson Locations: DUBAI, Saudi, Americas

☆ Militants attack Pakistani military convoy escorting Chinese nationals
▼ + stars: | 2023-08-13 | by ( Gul Yousafzai | ) www.reuters.com time to read: +2 min

QUETTA, Pakistan, Aug 13 (Reuters) - Militants attacked a Pakistani military convoy near the strategic southwestern port of Gwadar on Sunday as it was escorting a delegation of Chinese nationals to a construction project, the military and China's consulate in Karachi said. China's consulate in the southern city of Karachi condemned the attack, adding in a statement that there were no casualties among its citizens on the convoy. The attack targeted Chinese passengers travelling from Gwadar airport towards a construction site in the port area, the source said. The BLA and other militant groups say Pakistan exploits the province's natural resources and have targeted Chinese interests in recent years for supporting that. Gwadar is located near the Strait of Hormuz, a crucial oil shipping route in the Arabian Sea, and is being developed under Chinese management.

Persons: Ethan Wang, Gibran Peshimam, Andrew Cawthorne Organizations: Initiative, Terrorists, Separatist, Balochistan Liberation, Thomson Locations: QUETTA, Pakistan, Gwadar, Karachi, China, Balochistan, China's, Hormuz, Beijing

☆ Kylian Mbappé reinstated into PSG’s first-team squad after ‘positive talks’ with the club
▼ + stars: | 2023-08-13 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Kylian Mbappé has been reinstated into the Paris Saint-Germain first-team after being frozen out of the squad during its preseason tour of Japan, amid his ongoing transfer saga. The 24-year-old has been training separately from the first team while his standoff with the club rumbles on. “Following very constructive, positive talks between PSG and Kylian Mbappé before the game vs Lorient, the player has been reinstated into the first team training squad this morning,” PSG said in a statement on Sunday. Mbappé watched PSG's league opener against Lorient from the stands on Saturday. It’s not yet clear whether Mbappé will sign a new deal at the club.

Persons: Kylian Mbappé, Germain, Frenchman, ”, Mbappé, Nasser Al, Khelaifi, Christophe Saidi, Al Hilal, It’s Organizations: CNN, Paris Saint, Lorient, PSG, ” PSG, Saudi, Real Madrid Locations: Paris, Japan, Saudi Arabian, Al

☆ Palestinians accept first Saudi ambassador
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

At a ceremony in Jordan, Palestinian President Mahmoud Abbas's diplomatic adviser Majdi al-Khalidi received a copy of the credentials of Ambassador Nayef Al-Sudairi as a non-resident envoy, official Palestinian news agency Wafa said. Palestinian analyst Talal Okal said the diplomatic appointment was a half-step toward an official Saudi representation office in the occupied West Bank. "It is also a message Saudi Arabia was committed to the rights of the Palestinians in a fully sovereign state," he added. PALESTINIAN CONCERNPalestinian Foreign Minister Riyad al-Maliki said last week that Abbas's Western-backed Palestinian Authority is hoping to engage with Saudi Arabia over their concerns about the potential normalisation with Israel. Saudi Arabia has quietly accepted the so-called Abraham Accords that have normalised ties between Israel and Gulf states United Arab Emirates and Bahrain.

Persons: Mahmoud Abbas's, Majdi al, Khalidi, Nayef Al, Wafa, al, Talal Okal, Riyad al, Maliki, Abraham, Benjamin Netanyahu, Nidal al, Ali Swafta, Maayan Lubell, Hatem Maher, Andrew Cawthorne Organizations: West Bank, Palestinian, Saudi, Abraham Accords, United, NBC, Thomson Locations: RAMALLAH, West, Saudi Arabian, Israel, Saudi Arabia, U.S, Saudi, Jordan, Palestinian, Gulf, United Arab Emirates, Bahrain, Gaza, Ramallah, Maayan, Jerusalem, Cairo

Frederick Wassef, lawyer representing Brazil's President Jair Bolsonaro and Senator Flavio Bolsonaro, attends an inauguration ceremony at the Planalto Palace, in Brasilia, Brazil June 17, 2020. The search warrant issued by Supreme Court Justice Alexandre de Moraes followed police allegations that Bolsonaro's aides used government resources for their personal advantage. The decision by Moraes, seen by Reuters, said proceeds of the sales were delivered in cash to Bolsonaro via intermediaries. The raids follow an investigation into jewelry worth some $3 million given by the Saudi Arabian government as a presidential gift to Bolsonaro, which he failed to declare. The police investigation has established that Bolsonaro aides tried to recover the Saudi jewelry given to then-first lady Michelle Bolsonaro after it was seized in October 2021 in Sao Paulo by customs officials, who found the gems in an aide's backpack when he entered Brazil from Riyadh.

Persons: Frederick Wassef, Jair Bolsonaro, Flavio Bolsonaro, Adriano Machado, Alexandre de Moraes, Moraes, Mauro Cesar Cid, Bolsonaro's, Col Mauro Cid, Wassef, Mauro Cid, Cid, Bolsonaro, Michelle Bolsonaro, Ricardo Brito, Maria Carolina Marcelo, Rodrigo Viga Gaier, Carolina Pulice, Anthony Boadle, Brad Haynes, Rosalba O'Brien Organizations: REUTERS, RIO DE, Supreme, Federal Police, Reuters, Thomson Locations: Brasilia, Brazil, BRASILIA, RIO, RIO DE JANEIRO, Bahrain, Bolsonaro's, Saudi, Sao Paulo, Riyadh, Brasiia, Rio de Janeiro

☆ UN security staff released in Yemen after 18 months in captivity
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

[1/3] United Nations security staff (1st-3rd L) and (8th L), who have been released from the hands of Al Qaeda militants, stand with David Gressly, the United Nations Resident and Humanitarian Coordinator for Yemen, (4th L), and head of the Southern Transitional Council, Aidarous al-Zabidi (5th L), in... Read moreUNITED NATIONS, Aug 11 (Reuters) - Five United Nations security staff who were kidnapped in Yemen by al Qaeda militants 18 months ago have been released, the United Nations said on Friday. The staff - four from Yemen and one from Bangladesh - were in "very good health and good spirits, despite everything that they went through," the top U.N. official in Yemen, David Gressly, told reporters. "But they went through a very difficult period of 18 months of isolation," he added. Yemen-based Al Qaeda in the Arabian Peninsula (AQAP) has used a conflict between a Saudi-led coalition and the Iran-aligned Houthis to enhance its influence. Yemen has been mired in conflict since the Houthi group ousted the government from the capital Sanaa in late 2014.

Persons: David Gressly, Aidarous, U.N, Antonio Guterres, Al, Gressly, AQAP, Michelle Nichols, Rami Ayyub, Jonathan Oatis Organizations: United Nations, Southern Transitional Council, UNITED NATIONS, Five United Nations, Thomson Locations: Al Qaeda, Yemen, al, Bangladesh, Yemen's, Abyan, Saudi, Iran, Saudi Arabia, Riyadh, Tehran

☆ Riyadh Air, Spain's Atlético de Madrid announce multi-year partnership
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Riyadh Air Boeing 787-9 Dreamliner is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier/File PhotoDUBAI, Aug 10 (Reuters) - New Saudi Arabian airline Riyadh Air and Spanish soccer club Atlético de Madrid announced a multi-year sponsorship agreement in a joint statement on Thursday. As part of the deal, Riyadh Air will become the main sponsor of the Spanish club. "This partnership means a great opportunity to offer better experiences to our fans around the world and I am confident that this alliance with Riyadh Air will take our club to new heights," Atlético de Madrid CEO Miguel Ángel Gil said in the statement. Riyadh Air, which will start flights in 2025, is owned by Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF).

Persons: Benoit Tessier, Miguel Ángel Gil, Tony Douglas, Ahmed Elimam, David Evans Organizations: Riyadh Air Boeing, International Paris Air, Le, REUTERS, Riyadh Air, Atlético de, Madrid, Public Investment Fund, Thomson Locations: Le Bourget, Paris, France, DUBAI, Saudi Arabian, Spanish, Atlético de Madrid, Riyadh, Saudi

☆ How ESPN's $2 billion sports-betting deal could set it up for a spinoff from Disney, according to industry insiders
▼ + stars: | 2023-08-10 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Industry insiders say ESPN's deal with Penn Entertainment could signal a potential ESPN spinoff from Disney. Disney announced a $2 billion deal with casino operator Penn Entertainment to create ESPN Bet. ESPN's $2 billion Penn Entertainment deal rocked the sports-betting world — and also renewed speculation among industry insiders that Disney could spin off its media crown jewel. To be sure, some industry watchers have questioned how the deal positions ESPN's ability to catch up in the sports-betting race. According to the American Gaming Association, sports betting grossed $7.5 billion in gaming revenue in 2022, up 75% from 2021.

Persons: Bob Iger, Jonathan Miller, Penn, Alex Ilosevich, it's, It's, Iger, — DraftKings, sportsbooks, LightShed, Peyton Manning's, Ashley Rodriguez Organizations: Industry, Penn Entertainment, ESPN, Disney, ESPN Bet, what's, Hearst, CNBC, NFL, NBA, MLB, Integrated Media Co, Caesars Entertainment, Penn, LightShed Partners, American Gaming Association, Amazon, Comcast, Peyton Manning's Omaha Productions, Front Office Sports Locations: Saudi

CNN —With some of the world’s leading soccer players being tempted by the money on offer from Saudi Arabian soccer clubs, the Saudi Pro League’s (SPL) new Director of Football, Michael Emenalo, says the Gulf state is “disrupting the industry, but we are disrupting to enhance. We’re adding value to the industry.”The Saudi Pro League consists of 18 clubs, four of which are 75% owned by the Saudi Public Investment Fund (PIF) – one of the world’s top 10 sovereign wealth funds. Cristiano Ronaldo, N’golo Kanté, Riyad Mahrez and current Ballon d’Or holder Karim Benzema are just a few of players who have joined a variety of SPL clubs over the last few months. That’s true, but there is also a sensible, logical, thoughtful process to making the league better,” said the SPL’s new Director of Football. The new 2023/24 Saudi Pro League season begins on Friday, August 11, with Al-Ahli hosting Al-Hazm.

Persons: Michael Emenalo, Cristiano Ronaldo, N’golo, Riyad Mahrez, Ballon d’Or, Karim Benzema, Emenalo, Germain, Mbappé, Al Hilal’s, coy, ” Emenalo, Darren Lewis, “, that’s, he’s, Jurgen Klopp, Jordan Henderson, Fabinho, Al Ettifaq, Al Ittihad, ”, ” Michael Emenalo, Henderson, – it’s Organizations: CNN, Saudi Pro League’s, Football, Saudi Pro League, Saudi Public Investment Fund, Saudi, Al Hilal, Paris Saint, PSG, SPL, Liverpool, Saudi FA, Al Locations: Saudi Arabian, Gulf, France, Paris, Al Hilal, Saudi, Al, Liverpool, Turkey, Russia, Saudi Arabia, Mahrez, Ahli

☆ Boeing aircraft deliveries fall in July as company plans to raise output
▼ + stars: | 2023-08-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing 787 Dreamliners are built at the aviation company's North Charleston, South Carolina, assembly plant on May 30, 2023. Boeing delivered 43 aircraft to customers last month as it tries to ramp up output with airline customers clamoring for new jets. Last month, Boeing said it was transitioning production of its bestselling 737 Max plane to a pace of 38 a month from 31. Boeing's chief rival, Airbus, last week said it has handed over 381 planes in the first seven months of the year. Boeing said it logged net orders for 52 aircraft in July, which included a firmed-up order from Saudi Arabian Airlines, or Saudia, for 39 Boeing 787 Dreamliners, a deal first announced in March.

Persons: Brian West Organizations: Boeing, Max, Airbus, Saudi Arabian Airlines Locations: North Charleston , South Carolina, Saudi Arabian

Aramco's net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion riyals a year earlier, beating a company-provided median estimate from 15 analysts of $29.8 billion. The group declared a base dividend of about $19.5 billion for the second quarter, roughly in line with its payout for the first quarter. Aramco will begin paying performance-linked dividends for six quarters, starting with a $9.87 billion payout in the third quarter, it said. A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. The firm still sees capital expenditure at between $45 billion and $55 billion this year, Nasser said on a media call.

Persons: Maxim, Graphics Brent, Brent, Amin Nasser, Nasser, Maha El Dahan, Yousef Saba, Jan Harvey, Bernadette Baum Organizations: Aramco, Investment Fund, Saudi, REUTERS, Graphics, of, Petroleum, Thomson Locations: China chem, DUBAI, Saudi Arabian, Aramco, Saudi, Saudi Arabia, Russia, Saudi Aramco, Abqaiq, Moscow, Riyadh

☆ Aramco Q2 profit down 38% to $30 bln
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: 1 min

A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File PhotoCompanies Saudi Arabian Oil Co FollowDUBAI, Aug 7 (Reuters) - Saudi Arabian state oil giant Aramco (2222.SE) on Monday reported a near 38% drop in second-quarter net profit reflecting lower oil prices and thinner margins in refining and chemicals. Aramco's net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion a year earlier, the company said in a bourse filing, but topped the $29.8 billion expected by 15 analysts in an Aramco-provided poll. ($1 = 3.7513 riyals)Reporting by Maha El Dahan and Yousef Saba; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Maxim, Maha El Dahan, Yousef Saba, Jason Neely Organizations: Saudi, REUTERS, Companies Saudi Arabian Oil, Thomson Locations: Saudi Aramco, Abqaiq, Saudi Arabia, DUBAI, Saudi Arabian, Aramco, bourse

☆ Saudi Arabia in pact with Turkey's Baykar Tech to localise drone manufacturing
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Aug 7 (Reuters) - Saudi Arabia signed a strategic agreement with Turkish defence firm Baykar Tech to localise the manufacturing of drones in the kingdom, state-owned Saudi Arabian Military Industries (SAMI)posted on messaging platform X, formerly known as Twitter, on Sunday. The agreement "will enhance SAMI’s role in supporting the national defence industry and strengthening our local capabilities," SAMI said. In July, Saudi Arabia agreed to buy Turkish drones from Baykar in the biggest defence contract in Turkey's history. Investments and funding from the Gulf have helped relieve pressure on Turkey's economy and its currency reserves since 2021, when Ankara launched a diplomatic effort to repair ties with Saudi Arabia and the United Arab Emirates. Reporting by Muhammad Al Gebaly and Hatem Maher; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: SAMI, Jamal Khashoggi, Muhammad Al Gebaly, Hatem Maher, Leslie Adler Organizations: Turkish, Tech, Saudi Arabian Military Industries, United, Thomson Locations: CAIRO, Saudi Arabia, Ankara, United Arab Emirates, Turkey, East, North Africa, Saudi, Istanbul

The kingdom's sovereign wealth fund reported an AUM of 1.98 trillion riyals for 2021. The PIF said it generated a total shareholders' return of 8% and established 25 companies in 2022, and locally deployed 120 billion riyals in that year in strategic sectors. The PIF said 23% of its AUM were international investments, while 68% were local investments and the remainder were treasury. PIF is the chosen vehicle of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, to drive an economic agenda aimed at cutting reliance on oil. The fund raised $5.5 billion in February from a green bond sale, following its inaugural green bond that raised $3 billion in October.

Persons: Yasir Othman Al, Mohammed Abdullah Al Jadaan, Ahmed Aqeel Al Khateeb, Ibrahim Abdulaziz Al, Prince Mohammed bin Salman, Majid Abdullah Al Qasabi, Khalid Abdulaziz Al Falih, PIF, Ahmed Elimam, Alex Richardson Organizations: Saudi Public Investment, Saudi Finance, Tourism, Investment, Read, Saudi, Public Investment Fund, Sunday, Aramco, Sanabil Investments, Thomson Locations: Saudi, DUBAI, London , New York, Hong Kong, Saudi Aramco

☆ Iran boosts navy with missiles, drones as US offers guards for Gulf ships
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +1 min

Naval... Read moreDUBAI, Aug 5 (Reuters) - Iran has equipped its Revolutionary Guards' navy with drones and 1,000-km (600-mile) range missiles, Iranian news agencies reported on Saturday, as the U.S. offers to put guards on commercial ships going through the Gulf's Strait of Hormuz. "Various types of drones ... and several hundred cruise and ballistic missiles with a range of 300 to 1,000 km are among the systems and equipment that were added to the capabilities of the Guards' navy today," state news agency IRNA said. About a fifth of the world's crude oil passes through the Strait of Hormuz between Iran and Oman. Revolutionary Guards' Navy Commander Alireza Tangsiri told state TV that the new missiles had better precision as well as longer range. "The cruise missiles can attack several targets simultaneously and the commands can be altered after take-off."

Persons: IRNA, Washington, Alireza Tangsiri, Andrew Cawthorne Organizations: Islamic Revolutionary Guard Corps Navy, United Arab, U.S . Navy, Naval, Read, Guards, Revolutionary Guards, Navy, Dubai Newsroom, Thomson Locations: Panama, Hormuz, Dubai, Fujairah, United Arab Emirates, Arabian Gulf, DUBAI, Iran, Gulf's, Oman, Tehran

☆ Ukraine seeks progress towards peace at Saudi Arabia talks
▼ + stars: | 2023-08-05 | by ( Maha El Dahan | ) www.reuters.com time to read: +5 min

Ukrainian, Russian and international officials say there is no prospect of direct peace talks between Ukraine and Russia at present, with the war raging. The world's top oil exporter Saudi Arabia, which has maintained contacts with both sides since Russia invaded Ukraine last February, has played a role in convening countries that did not join earlier meetings, Western diplomats have said. SAUDI DIPLOMACYWestern officials and analysts said Saudi diplomacy had been important in securing China's presence at the talks. Zelenskiy attended an Arab League summit in Saudi Arabia last year where MbS voiced readiness to help mediate in the war. In March, Beijing brokered a resumption of ties between Saudi Arabia and its arch regional foe Iran.

Persons: Andriy Yermak, Volodymyr Zelenskyi, Volodymyr Zelenskiy's, Zelenskiy, Russia's, Eurasian Affairs Li Hui, Ajit Doval, Crown Prince Mohammed bin Salman, Xi Jinping, Kristian Coates Ulrichsen, Rice, Yun Sun, Sun, Lidia Kelly, Maha El Dahan, Omar Abdel, Michael Martina, Aftab Ahmed, Angus McDowall, Andrew Cawthorne Organizations: International, REUTERS, Saudi, Global, Kremlin, Eurasian Affairs, Indian National Security, Crown, Arab, MbS, Shanghai Cooperation Organization, Iran, Baker Institute, Stimson, Razek, Thomson Locations: Ukraine, Kyiv, China, India, Jeddah Ukraine, Russia, DUBAI, United States, Saudi Arabia, Ukrainian, Copenhagen, Beijing, Moscow, Jeddah, Riyadh, SAUDI, Saudi, Turkey, Middle East, Washington, Warsaw, Maha, Dubai, New Delhi

REUTERS/Jennifer Hiller/File PhotoSINGAPORE, Aug 4 (Reuters) - Surging U.S. crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows. U.S. crude exports are also easing the loss of supply after Saudi Arabia deepened output cuts from July, above what major producers agreed to in June. The widening exports illustrate the increasing influence of crude from the U.S., the world's biggest oil producer, in the global market. U.S. crude exports have averaged 4.08 million barrels per day so far in 2023, up from an average of 3.53 million bpd in 2022, according to the Energy Information Administration. PRESSURE EXTENDSThe pressure exerted from the WTI Midland exports is even extending to Asian markets for Middle Eastern crude.

Persons: Jennifer Hiller, Brent, it's, Joel Hanley, Rohit Rathod, Adi Imsirovic, John Evans, Muyu Xu, Alex Lawler, Arathy, Florence Tan, Simon Webb Organizations: REUTERS, Midland, P, Energy Information Administration, WTI Midland, United, Dubai, Surrey Clean Energy, Gazprom Marketing, Organization of, Petroleum, Exchange, Futures, Thomson Locations: Texas, U.S, SINGAPORE, Europe, Asia, Saudi Arabia, United Arab Emirates, Midland, Dubai, Africa, Brazil, Singapore, WTI, Saudi, London, Houston

After six seasons in the Champions League, where Klopp's side reached the final three times and won the trophy in 2019, Liverpool now find themselves back in the Europa League. Premier League clubs sacked 14 managers last season but Klopp, currently the longest-serving coach at a single club in England's top flight, was never in danger of losing his job. Liverpool did not inject fresh blood into an ageing midfield while injuries in the forward line scuppered a title challenge. This year Saudi Arabian clubs have forced Liverpool's hand, with the cash-rich league tearing up the Anfield club's transition plans by luring away their two midfield stalwarts. Returning to the Champions League will be their first priority, which is why a top four finish -- or even winning the Europa League -- will be the bare minimum that is expected of Liverpool.

Persons: Klopp, Jordan Henderson, James Milner, Naby Keita, Alex Oxlade, Chamberlain, It's, Alexis Mac Allister, Dominik Szoboszlai, Szoboszlai, Fabio Carvalho, Romeo Lavia, Thiago, Curtis Jones, Harvey Elliott, Trent Alexander, Arnold, Diogo Jota, Luis Diaz, Darwin Nunez, Mohamed Salah, Cody Gakpo, Rohith Nair, Pritha Sarkar Organizations: Liverpool, Premier League's, Champions League, Europa League, Premier League, Anfield, Saudi Pro League, RB Leipzig, Thomson Locations: Liverpool, England's, Saudi, Saudi Arabia, Bengaluru

☆ Oil prices set for sixth weekly gain as producers pledge output cuts
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output through next month. Both benchmarks were on track for a sixth week of gains, their longest streak of weekly gains this year. The Joint Ministerial Monitoring Committee of OPEC+ is unlikely to tweak overall oil output policy at the meeting on Friday, sources have said. But the Saudi Arabian pledge plus comments from Russian Deputy Prime Minister Alexander Novak that it will also cut its oil exports by 300,000 bpd in September have raised concerns about supply and supported prices. Higher borrowing costs for businesses and consumers could slow economic growth and reduce oil demand.

Persons: Brent, WTI, Alexander Novak, John Kirby Organizations: Brent, U.S, West Texas, Organization of, Petroleum, Ministerial, OPEC, White House, Bank of England Locations: Saudi Arabia, Russia, Saudi, OPEC, Russian, United States, U.S

☆ Saudi Arabia and Turkey are emerging as the new peace brokers of the Russia-Ukraine war
▼ + stars: | 2023-08-02 | by ( Natasha Turak | ) www.cnbc.com time to read: +7 min

Turkish President Recep Tayyip Erdogan welcomes Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud in Ankara, Turkey, on June 22, 2022. "We thank the Crown Prince and Government of Saudi Arabia for facilitating [the prisoner exchange]," Sullivan wrote in a separate post. "Saudi Arabia and Turkey are good examples of such mid-level powers now helping shape international realities in a way they rarely did during the Cold War." And Turkey, like Saudi Arabia, refuses to partake in sanctions against Russia, irking its Western allies. Saudi Arabian Crown Prince Mohammed bin Salman (R) meets Ukrainian President Volodymyr Zelenskyy (L) in Jeddah, Saudi Arabia on May 19, 2023.

Persons: Recep Tayyip Erdogan, Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud, Mustafa Kaya, Russian –, Vladimir Putin, –, Recep Tayyip Erdogan of, Crown Prince Mohammed bin Salman, Volodymyr Zelenskyy, Jake Sullivan, Putin, Sullivan, Hussein Ibish, Russia's Putin, Vilius Semeska, Selcuk Bayraktar, Haluk Bayraktar, Ibish, Saudi Arabia's Crown Prince Mohammed bin Salman, Saudi Arabian Crown Prince Mohammed bin Salman, Erdogan, Mohammed bin Salman, Ryan Bohl, Rane, Ayham Kamel Organizations: Saudi Arabia's Crown, Getty, Crown, Russia, Handout, Anadolu Agency, Twitter, Ukraine –, Prince, Saudi, Gulf States Institute, CNBC, NATO, Defence, Baykar, Saudi Arabian Crown, Saudi Foreign Ministry, Getty Images, Ukrainian, Arab, Russo, East, Global, Eurasia Group Locations: Ankara, Turkey, Xinhua, Russian, Russia, Recep Tayyip Erdogan of Turkey, Saudi Arabia, Kyiv, Ukraine, Ukrainian, Saudi, Jeddah, U.S, China, India, Brazil, Washington, Turkey's, Lithuanian, Istanbul, Turkish, , Washington, North Africa, Riyadh, Middle East

☆ Joan Laporta: Barcelona president says there are ‘no sporting reasons’ for soccer stars to join Saudi Pro League
▼ + stars: | 2023-08-02 | by ( Don Riddell | ) edition.cnn.com time to read: +5 min

“Fortunately, most of the players like Football Club Barcelona,” Laporta told CNN Sport’s Don Riddell from Los Angeles during the Spanish team’s pre-season tour of the U.S., which wrapped up on Tuesday against AC Milan in Las Vegas. “And when a player, and with all respect, prefers to go to Saudi Arabia, basically there are no sporting reasons. Last week, Al-Hilal, which is one of four Saudi clubs owned by the PIF, made a world-record bid of over $332 million (300 million euros) for Paris Saint-Germain (PSG) striker Kylian Mbappé. “My view is that it’s more important to have the assistance of the clubs, the traditional clubs, specifically the European clubs,” added Laporta. “The priority of last season was the Spanish league and this new season, for us, the league is the priority as well,” said Laporta.

Persons: Joan Laporta, “, ” Laporta, CNN Sport’s Don Riddell, Germain, Kylian Mbappé, Ballon d’Or, Karim Benzema, N’Golo, Kalidou Koulibaly, Edouard Mendy, Roberto Firmino, Jordan Henderson, Cristiano Ronaldo, Ronaldo, Hussein Malla, ”, Laporta, Xavi, – Pep Guardiola, Johan Cruyff, Pep, Lionel Messi’s, Jorge Messi, Messi, Cruz Azul, Sam Navarro Organizations: CNN, CNN Sport, Saudi Pro League, Football Club Barcelona, AC Milan, Saudi Arabia’s Public Investment Fund, Saudi, Paris Saint, PSG, Saudi Arabian football, SPL, Al, Gulf state’s, ”, Barcelona, La Liga, Champions League, Spanish League, Liga, Barca, MLS, Inter Miami, Cruz, USA, Sports, Reuters, Camp, Good Locations: Saudi Arabia, Barcelona, Gulf, Los Angeles, Spanish, U.S, Las Vegas, Al, Hilal, Paris, Fabinho, Saudi, Xavi

☆ Oil holds near three-month high on signs of tightening supply
▼ + stars: | 2023-08-01 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

SINGAPORE, Aug 1 (Reuters) - Oil prices slipped on Tuesday but were still near a three-month high reached in the previous session on signs of tightening global supply, as producers implement output cuts, and strong demand in the United States, the world's biggest fuel consumer. A private sector survey also showed on Tuesday that China's factory activity swung to contraction in July, with supply, demand and export orders all deteriorating amid sluggish market conditions. In June, OPEC+ agreed on a broad deal to limit oil supply into 2024, and Saudi Arabia pledged an additional voluntary cut of 1 million barrels per day for July. National Australia Bank analysts said they expect Saudi Arabia to extend its voluntary 1 million barrels per day (bpd) supply cut into September. U.S. crude oil and gasoline stockpiles were expected to have declined last week, according to a Reuters poll which estimated on average that crude inventories fell by about 900,000 barrels in the week to July 28.

Persons: Brent, Tina Teng, Teng, Christian Schmollinger, Sonali Paul Organizations: Brent, . West Texas, CMC Markets, Organization of Petroleum Exporting, National Australia Bank, NAB, Energy, Administration, Thomson Locations: SINGAPORE, United States, ., OPEC, Saudi Arabia, Saudi

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