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CNN —Cristiano Ronaldo has come under scrutiny for a gesture he made towards fans following Al-Nassr’s 3-2 win against Al-Shabab in the Saudi Pro League on Sunday. In footage from the match, fans can be heard taunting Ronaldo by chanting about Lionel Messi, a long-time rival of the 39-year-old forward. The gesture is now being investigated by the Saudi Arabian Football Federation (SAFF), according to Saudi-owned media outlet Asharq Al Awsat, which cited unnamed sources. CNN has contacted Ronaldo’s representatives, the SAFF, Al-Nassr and Al-Shabab for further comment. It was Al-Nassr, however, which would have the final say as Talisca’s second goal deep into the match completed a 3-2 victory in an exciting encounter.

Persons: CNN — Cristiano Ronaldo, Ronaldo, Lionel Messi, Al Awsat, Nassr, –, Yannick Carrasco’s, Shabab, Carlos Júnior’s, “, Waleed Al, Farraj, Asharq Al Awsat, John Duerden, ” Organizations: CNN, Al, Saudi Pro League, Saudi Arabian Football Federation, Guardian Locations: Shabab, Saudi, Al, Riyadh, Hilal, Portuguese, Saudi Arabia

☆ Turkey's Drone Maker Baykar Begins to Build Plant in Ukraine
▼ + stars: | 2024-02-06 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

Baykar has said it has signed export deals for its TB2 drone with 30 countries. These include Ukraine, Ethiopia, Libya and Azerbaijan since 2018, according to think tank SIPRI. Bayraktar also said the Istanbul-based firm's plans to start production in Saudi Arabia in the next two years were on track. The announcement follows an agreement in July to sell the Bayraktar Akinci, another kind of drone, to Saudi Arabia in what Baykar described as the biggest defence contract in Turkey's history. It also aims to produce the new models of the Kızılelma and the TB3 drones "in the tens," he added.

Persons: Pesha Magid, Baykar, Haluk Bayraktar, Bayraktar, Lockheed Martin, Federico Maccioni, Alexandra Hudson Organizations: Reuters, World Defense, U.S, Lockheed, Saudi Locations: Pesha, Pesha Magid RIYADH, Turkish, Kyiv, Ukraine, Ethiopia, Libya, Azerbaijan, Riyadh, Israel, Gaza, Ukrainian, Istanbul, Saudi Arabia

DUBAI, United Arab Emirates (AP) — Saudi Arabia's oil giant Saudi Aramco said Tuesday it will not try to increase its maximum daily oil production to 13 million barrels a day after receiving an order from the country's Energy Ministry. The firm, known formally as the Saudi Arabian Oil Co., said it would maintain its maximum output at 12 million barrels a day. However, crude oil prices globally have fallen over recent months as demand has been soft. Aramco reported earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists worried about climate change. Political Cartoons View All 253 Images

Organizations: United Arab Emirates, Saudi Aramco, country's Energy Ministry, Saudi Arabian Oil Co, Brent, Aramco Locations: DUBAI, United Arab, Saudi

☆ A lower-cost way to get long this 'Magnificent 7' member trading at an all-time high
▼ + stars: | 2024-01-29 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

The five reporting this week — Microsoft, Apple, Alphabet, Amazon, and Meta — represent more than 23% of the index by market capitalization. But let's focus on Microsoft (MSFT) . Breaking down MSFT fundamentals Microsoft is one of the most important technology companies in the world. Over the past five years, Microsoft's price-to-earnings ratio has been as low as 25.8 and as high as 41. Some are anticipating organic sales growth of 15%, double the 7.5% average the company experienced over the past 4 quarters.

Persons: OpenAI, Sam Altman, Satya Nadella Organizations: Microsoft, Apple, Meta, Saudi Arabian Oil Company, Windows, Activision Blizzard

RIYADH, Saudi Arabia (AP) — Lionel Messi and Inter Miami kicked off their tour of Saudi Arabia by losing to Al-Hilal 4-3 on Monday. The Major League Soccer team is playing two games in the oil-rich kingdom as part of its preseason preparations, but even Messi could not inspire it to victory in Riyadh. While Messi got on the score sheet with a second-half penalty, Malcom came up with the decisive goal to win the match in the 88th. He ultimately opted for a move to the United States to join David Beckham's Miami and quickly led the team to its first trophy, the Leagues Cup. Just when Miami looked to have a draw, Malcom came up with the winner.

Persons: — Lionel Messi, Messi, Malcom, Hilal, Germain, David Beckham's Miami, Cristiano Ronaldo's Al, Nasser, Aleksandar Mitrovic, Abdullah Al, Hamdan, Luis Suarez, Michael, Messi's, David Ruiz, ___ Organizations: Inter Miami, Al, Major League Soccer, Messi, Paris Saint, Leagues, Newcastle, Fulham Locations: RIYADH, Saudi Arabia, Hilal, Riyadh, Paris, United States, Miami, Hong Kong, Japan, Al

☆ Tech giants lead surge in global mega-caps as inflation eases
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Apple Inc's (AAPL.O) market value jumped 11.2% to $2.95 trillion over the past month, while Microsoft Corp (MSFT.O) saw a 12.1% increase in its market cap, reaching $2.8 trillion. Reuters Graphics Reuters GraphicsNvidia Corp's (NVDA.O) market cap soared 14.7% to $1.15 trillion, following its announcement of a 206% year-over-year revenue increase to $18.1 billion in the third quarter. JPMorgan Chase & Co (JPM.N) saw its market cap increase by 12.2% to $451 billion by the end of November. In other sectors, Tesla Inc's (TSLA.O) market value rose nearly 20% to $763.2 billion last month, following a price hike for its Model 3 and Y vehicles in China. Saudi Arabian Oil Co (2222.SE) and Exxon Mobil Corp (XOM.N) saw market caps fall by 0.3% and 2.9%, respectively.

Persons: Mike Segar, Tesla, Patturaja Murugaboopathy, Gaurav Dogra, Kim Coghill Organizations: Apple Inc, Apple, REUTERS, Microsoft Corp, Reuters Graphics Reuters, Nvidia, JPMorgan Chase &, Rho, Saudi Arabian Oil Co, Exxon Mobil Corp, Thomson Locations: Manhattan , New York, U.S, China, Saudi, Bengaluru

RIYADH, Saudi Arabia (AP) — Cristiano Ronaldo walked off the field with the gleeful chants of “Messi, Messi, Messi!” ringing in his ears from delighted Al-Hilal fans who had just watched their Saudi Pro League team beat the Portugal superstar's Al-Nassr 3-0 in the Riyadh Derby on Friday. Saudi soccer has not been the same since the former Real Madrid and Manchester United forward completed a move last December. Lots of people want to be like Cristiano Ronaldo but few want to work like Cristiano Ronaldo. Ronaldo may have his work cut out to help his team win title No. 10 but, given his form so far this season, he may still have the last laugh with the Messi chants fading away.

Persons: — Cristiano Ronaldo, “ Messi, Messi, Al, Portugal superstar's, Ballon, — Aleksandar Mitrovic, Milinkovic, Savic, Hilal, Ronaldo, Cristiano, ”, Fahad, “ Al, Sadio Mane, Marcelo Brozovic, Alex Telles, “ Cristiano, ” Al, Luis Castro, Cristiano Ronaldo, ” Ronaldo, Mitrovic, Hilal’s, Germain, Neymar, Ruben Neves, Kalidou Koulibaly, Salem, Saleh Al, Shehri, Lionel Messi's, ___ Organizations: Saudi Pro League, Riyadh Derby, Serbian, Al, King Fahd International, Real Madrid, Manchester United, Fahad Al, Associated Press, Liverpool, Inter Milan, Paris Saint, English Premier League, Saudi Arabian Locations: RIYADH, Saudi Arabia, Portugal, Riyadh, Saudi Arabian, Saudi, Al, Hilal, Asia, Paris, Brazil, Lionel Messi's Argentina, cryptocurrency

NEW YORK (AP) — Portuguese soccer star Cristiano Ronaldo has been hit with class-action lawsuit seeking at least $1 billion in damages for his role in promoting cryptocurrency-related “non-fungible tokens,” or NFTs, issued by the beleaguered cryptocurrency exchange Binance. Representatives for Ronaldo and Binance, the world's largest cryptocurrency exchange, did not immediately return The Associated Press' requests for comment. Ronaldo launched his inaugural NFT “CR7” collection with Binance back in November of last year, ahead of the 2022 World Cup. Most recently, on X (the platform formerly known as Twitter) Ronaldo reposted a Binance video and wrote that he was “Cooking something up" with the crypto exchange on Tuesday. Over the summer, Binance was accused of operating as an unregistered securities exchange and violating a slew of U.S. securities laws in a lawsuit from regulators.

Persons: Cristiano Ronaldo, Ronaldo, ”, Binance, “, Ronaldo's, NFTs, Changpeng Zhao, Larry David, Tom Brady —, FTX’s, Al Nassr Organizations: Southern District of, Associated Press, Twitter, FTX, Spanish, Real Madrid, Juventus, Manchester United, Saudi Arabian Locations: Portuguese, cryptocurrency, Southern District, Southern District of Florida, Portugal, Hollywood, England

☆ Cristiano Ronaldo asks referee to overturn penalty decision given to him during Asian Champions League game
▼ + stars: | 2023-11-28 | by ( George Ramsay | ) edition.cnn.com time to read: +1 min

CNN —Cristiano Ronaldo told a referee to overturn a penalty awarded in his favor during Al-Nassr’s Asian Champions League game against Persepolis. The act of sportsmanship occurred in the second minute of Monday’s match as Ronaldo was brought down in the box, prompting referee Ma Ning to award a penalty to the home side. But the Portuguese star approached the referee and argued that the decision should be reversed. The game ultimately finished 0-0 after Al-Nassr’s Ali Lajami was red carded early in the first half for a late challenge on Milad Sarlak. Ronaldo did have a chance to add to his three Asian Champions League goals this season early in the second half, but he fired a shot just wide of the post.

Persons: CNN — Cristiano Ronaldo, Ronaldo, Ma Ning, Ma, Nassr’s Ali Lajami, Sarlak, Fayez Nureldine Organizations: CNN, Al, League, Persepolis, Asian Champions League, Saudi Arabian Locations: Portuguese, AFP, Riyadh, Saudi

ISSY-LES-MOULINEAUX, France (AP) — In a high-profile showdown, Rome, Busan and Riyadh are the top contenders to become the host city of the 2030 World Expo, with the organizing body choosing the winner on Tuesday. The meeting started with the candidates' final presentation to be followed by the vote, which will be held behind closed doors. Political Cartoons View All 1267 ImagesThe Rome campaign also hosted BIE delegates at Paris’ luxurious Plaza Athenee hotel. The World Expo has a storied history of bringing together nations to showcase technological innovations and cultural achievements. With the world’s attention turned to Paris, the upcoming vote will set the stage for the next chapter in the rich legacy of the World Expos.

Persons: Russell Crowe, Giampiero Massolo, ” Rome’s, Psy, Emmanuel Macron, Ferris, ___ Thomas Adamson, John Leicester, Frances D’Emilio, Colleen Barry Organizations: Expo, BIE, Paris, Michelin, Eiffel, Saudi, Expos, World Expos Locations: ISSY, France, Rome, Busan, Riyadh, Paris, BIE, Issy, Italy, ”, Roman, Saudi Arabian, Elysee, Osaka, Japan, Milan

“The district court clearly recognized the gravity of dismissing the case and accordingly provided a thorough analysis, amply supported by factual findings,” Judge Johnnie Rawlinson wrote in Tuesday's 6-page opinion. In dismissing the case in Nevada, Dorsey sanctioned Stovall for “bad faith,” saying he had improperly attempted to use documents that were leaked or stolen in a cyberattack to pursue Mayorga’s case. Mayorga's lawsuit claimed conspiracy, defamation, breach of contract, coercion and fraud. By the time Dorsey threw out the case, Stovall claimed Mayorga should receive for more than $25 million in damages. “The district court did not abuse its discretion when it found that a case-terminating sanction was appropriate,” the ruling said.

Persons: Cristiano Ronaldo, Kathryn Mayorga's, Jennifer Dorsey, Ronaldo, Mayorga, Leslie Mark Stovall, ”, Johnnie Rawlinson, Stovall, Al Nassr, Dorsey, Mayorga wasn’t, Der Spiegel, Cristiano, Steve Wolfson, Judge Dorsey “, Mayorga's counsel's Organizations: —, Associated Press, Spanish, Real Madrid, Juventus, Manchester United, Saudi Arabian, Circuit, Ronaldo, Football Locations: RENO, Nev, Las Vegas, San Francisco, refiling, England, Nevada, Clark

CNN —After more than three years of going missing from world soccer, North Korean striker Han Kwang Song has reappeared, playing for his country in two recent World Cup qualifiers and scoring in the 6-1 win over Myanmar on Tuesday. Attempting to qualify for the World Cup for a third time, North Korea lost 1-0. The North Korea football federation, the Asian Football Confederation and world soccer governing body FIFA didn’t respond to CNN’s request for comment on Han’s return to international football. The return of the North Korean wunderkind has surprised soccer pundits and fans, who worried about his safety and promising career being cut short. The Covid-19 pandemic led to North Korea fully sealing its borders, making it impossible for Han and fellow repatriated North Korean nationals to return home.

Persons: Han Kwang, Han, Duhail, –, Korean wunderkind, Max Canzi, ” Canzi, Han’s, Nicholas Pennington, Kwang, Choe, Pölten, Alberto Mier, Qatar’s, ”, Kim Jong, Kim, Tullio M Organizations: CNN, North, Myanmar, North Korean, Qatar, Al, Asian Football Confederation, FIFA, Korean, Serie, CNN Sport, Syria, Cagliari, Austria’s SKN, Italy’s, UN, Juventus, United Nations Security Council, Qatar Stars, Qatar Stars League, UNSC, Qatar Airways, Perugia, Getty, Tokyo, Beijing Winter Games, International Olympic Committee Locations: North Korean, Syria, Saudi Arabian, Jeddah, North Korea, Yangon, Rome, Qatar, Korean, Pyongyang, Myanmar, Austria’s SKN St, Arezzo, Qatari, Korea, Ahli, Doha, Puglia, Beijing, Asia

☆ Mass visa cancellations at Saudi airport puts relations with Nigeria in spotlight
▼ + stars: | 2023-11-16 | by ( Nimi Princewill | ) edition.cnn.com time to read: +5 min

Abuja, Nigeria CNN —Diplomatic relations between Saudi Arabia and Nigeria have come under scrutiny after 177 Nigerians were refused entry to the country on Monday. The mass cancellation of visas occurred as Nigera’s President Bola Tinubu was still in Saudi Arabia after holding bilateral talks with the Saudi government. “There was a total lack of sensitivity (by Saudi officials) because the president (of Nigeria) was visiting that country,” Okhai said. Saudi Arabia is a popular pilgrimage destination for thousands of Nigerian Muslims. However, Monday’s deportation of Nigerian nationals is not the first time travelers have been refused entry to Saudi Arabia.

Persons: Bola Tinubu, It’s, ”, ” Victor Okhai, ” Okhai, Reno Omokiri, ” Omokri, Mohamed bin Zayed Al Nahyan Organizations: Nigeria CNN —, Air, country’s Ministry, Hajj, Saudi, Jeddah …, Africa Summit, Guinea Bissau, African Diaspora Foundation, CNN, United Arab Emirates, UAE, reoccurrence Locations: Abuja, Nigeria, Saudi Arabia, Jeddah, Mecca, Saudi, Guinea, Independence, Kingdom of Saudi Arabia

Rory McIlroy resigned from the PGA Tour board on Tuesday, an abrupt move that comes as the tour is trying to finalize an agreement to create a new commercial enterprise involving Saudi Arabia's national wealth fund. Asked if he liked having a seat the table, McIlroy said, “Not particularly, no. No player has been more outspoken than McIlroy about the PIF's financial backing of rival league LIV Golf, which attracted a number of major champions with enormous signing fees. LIV Golf recently completed its second year, and it remains unclear how the PIF's deal with the tour affects it. The remaining five player-directors on the 12-member board will elect a successor to serve McIlroy's term, which ends after next year.

Persons: Rory McIlroy, McIlroy, “, Jay Monahan, Ed Herlihy, ”, Rory —, —, Monahan, LIV, LIV Golf, Greg Norman, I’ve, ” McIlroy, Tiger Woods, ___ Organizations: PGA, Saudi, New York Times, Public Investment Fund, Tour Enterprises, PAC, Tiger Locations: Dubai, Saudi Arabia, Saudi

☆ Top Boeing exec says 2023 will be the 'year of widebody orders' with more deals to come
▼ + stars: | 2023-11-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A Boeing 777x is displayed during the International Paris Air Show at the ParisLe Bourget Airport, on June 20, 2023. Boeing Commercial Airplanes CEO Stan Deal says 2023 has been a year of orders for widebody aircraft with the U.S. manufacturer expecting to announce more deals at this week's Dubai Airshow. His comments come after reports that Boeing and Emirates are close to agreeing a major order of 777 jets, adding to the Emirati flag carrier's existing order backlog of 155 777X aircraft from Boeing. "We've seen strong recovery in the narrow-body ordering in 2022 and now in 2023 it seems to be the year of widebody orders, and I suspect as you see this show unfold, you're going to see many more widebody orders for the industry," Deal, who is also the executive vice president of Boeing, told CNBC's Dan Murphy. Earlier this year, Saudi Arabian flag carrier Saudia and the newly-established Riyadh Air each logged orders for 39 of Boeing's 787 Dreamliner jets, and Deal believes demand from the Gulf will continue to grow rapidly.

Persons: Stan Deal, We've, CNBC's Dan Murphy Organizations: Boeing, International Paris Air, Boeing Commercial, Emirates, Riyadh Air, Deal Locations: ParisLe, U.S, Dubai, Saudi Arabian, Riyadh

☆ Iran President Raisi Says Action, Not Words, Needed on Gaza
▼ + stars: | 2023-11-11 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Iranian President Ebrahim Raisi said on Saturday that the time had come for action over the conflict in Gaza rather than talk as he headed to Saudi Arabia to attend a summit on the war between Israel and Hamas militants. It should be for action," Raisi said at Tehran airport before departing for the summit of Arab and Islamic nations in the Saudi Arabian capital Riyadh. "Today, the unity of the Islamic countries is very important," he added. But these statements are not consistent with America's actions," Raisi said in the televised comments at Tehran airport. "The war machine in Gaza is in the hands of America, which is preventing a ceasefire in Gaza and expanding the war.

Persons: Ebrahim Raisi, Raisi, Hossein Amirabdollahian, Simon Cameron, Moore, Christian Schmollinger Organizations: Reuters, Dubai Newsroom Locations: Gaza, Saudi Arabia, Israel, Tehran, Saudi, Riyadh, Iranian, China, Palestine, Iran, America

☆ Iran President Raisi says action, not words, needed on Gaza
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +1 min

Iranian President Ebrahim Raisi attends a meeting with his Tajik counterpart Emomali Rakhmon in Dushanbe, Tajikistan November 8, 2023. It should be for action," Raisi said at Tehran airport before departing for the summit of Arab and Islamic nations in the Saudi Arabian capital Riyadh. "America says it doesn't want an expansion of the war and has sent messages to Iran and several countries [to this effect]. But these statements are not consistent with America's actions," Raisi said in the televised comments at Tehran airport. "The war machine in Gaza is in the hands of America, which is preventing a ceasefire in Gaza and expanding the war.

Persons: Ebrahim Raisi, Emomali, Raisi, Hossein Amirabdollahian, Simon Cameron, Moore, Christian Organizations: Press Service, REUTERS, Dubai Newsroom, Thomson Locations: Dushanbe, Tajikistan, Gaza, Saudi Arabia, Israel, Tehran, Saudi, Riyadh, Iranian, China, Palestine, Iran, America

☆ Nigeria gets refineries investment, forex pledge from Saudi Arabia
▼ + stars: | 2023-11-10 | by ( Felix Onuah | ) www.reuters.com time to read: +3 min

REUTERS/Temilade Adelaja/File Photo Acquire Licensing RightsABUJA, Nov 10 (Reuters) - Nigeria and Saudi Arabia on Friday agreed to a series of investment and cooperation deals, including a pledge by the Saudi government to invest in the revamp of Nigeria's oil refineries and provide financial support to sustain the government's foreign-exchange reforms. Under Tinubu, Nigeria has embarked on the boldest reforms in decades, scrapping a popular petrol subsidy and unifying the country's multiple exchange rates as part of measures "aimed at improving the ease of doing business." Information Minister Mohammed Idris said the Saudi government pledged to make "a substantial deposit of foreign exchange to boost Nigeria's forex liquidity". "Nigeria and Saudi Arabia have always enjoyed a special relationship at both the bilateral and multilateral levels. The two leaders agreed to work together over the next six months to "develop a comprehensive road map and blueprint" to deliver on the investments, Idris said.

Persons: Bola Tinubu, Temilade, Saudi Crown Prince Mohammed bin Salman, Mohammed Idris, Idris, Tinubu, Ajuri Ngelale, Boko, Felix Onuah, Elisha Bala, Emelia Sithole, Matthew Lewis, David Evans Organizations: REUTERS, Rights, Saudi Crown, Saudi Aramco, Thomson Locations: Abuja, Nigeria, Rights ABUJA, Saudi Arabia, Saudi, Africa, Riyadh, Tinubu, Africa's

☆ Saudi Arabia eyes stake in $30 bln Indian Premier League - Bloomberg News
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), the world's richest cricket league, Bloomberg News reported on Friday, citing people familiar with the matter. Saudi Arabian Crown Prince Mohammed bin Salman's advisers have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, the report said. The Board of Control for Cricket in India (BCCI), the custodian of the IPL, did not immediately respond to Reuters' request for a comment. IPL is one of the richest leagues in the world and has been attracting top players and coaches to India since its inaugural edition in 2008. Reporting by Nilutpal Timsina in Bengaluru; Editing by Shinjini Ganguli and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Saudi Arabian Crown Prince Mohammed bin, Nilutpal, Shinjini Ganguli, Shilpi Majumdar Organizations: Indian Premier League, Bloomberg, Saudi Arabian Crown, IPL, Control, Cricket, BCCI, Reuters, Thomson Locations: Saudi Arabia, Saudi, India, Bengaluru

☆ Hamas wants to wreck years of US efforts to mend Israel-Arab ties — and it looks like it's working
▼ + stars: | 2023-11-03 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On Thursday Bahrain, one of the original signatories of the Trump-era Abraham Accords, said it would recall its ambassador to Israel. AdvertisementAdvertisement"Presumably there's a limit to how much carnage Israel can get away with before Arab countries pull out of the Abraham Accords. The UAE has reaffirmed its commitment to the Abraham Accords, reported the Jewish News Syndicate. But the longer Israel's campaign continues, and images and civilian deaths and devastation are broadcast around the world, the more public anger will build, putting huge pressure on Arab leaders to act.

Persons: —, Joe Biden, Donald Trump, Israel, Abraham, Giorgio Cafiero, Cafiero, Abraham Accords —, Biden Organizations: Saudi, Service, United Arab Emirates, Protesters, Thursday Bahrain, Trump, Abraham Accords, West Bank, Analytics, Abraham, Jewish News Syndicate, Orly Goldschmidt, CNN Locations: Israel, Gaza, UAE, Saudi Arabia, Bahrain, Egypt, Morocco, West, Gulf, Iran, Saudi

☆ Shell posts $6.2 billion third-quarter profit, announces $3.5 billion share buyback
▼ + stars: | 2023-11-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

British oil giant Shell on Thursday reported $6.2 billion profit for the third quarter, roughly in line with estimates, as the company benefited from higher oil prices and refining margins. Profit was higher than the $5.1 billion of the second quarter, but marked a sharp decline from the $9.45 billion reported a year ago, when the Russia-Ukraine conflict bolstered oil and gas prices. The company also announced a $3.5 billion share buyback to be carried out over the next three months. Free cash flow fell from $12.1 billion in the second quarter to $7.5 billion. BP on Tuesday posted a year-on-year fall in third-quarter profit from $8.15 billion to $3.293 billion, below analyst estimates, though France's TotalEnergies slightly outperformed last week.

Persons: Wael Sawan, Shell, Sawan, France's Organizations: Shell, Energy, BP, International Energy Agency Locations: Alhambra , California, British, Russia, Ukraine, Saudi

GENEVA (AP) — The near certainty that Saudi Arabia will host the 2034 men's World Cup unites two of the most influential men in world sports: the leader of soccer's governing body and the kingdom's crown prince. In the case of Saudi Arabia, U.S.-based journalist Jamal Khashoggi was slain inside the Saudi Consulate in Istanbul in 2018. The men’s World Cup should earn Switzerland-based FIFA more than $10 billion in almost entirely tax-free revenue. “Mohammed bin Salman wants Saudi Arabia to be a hub of anything and everything,” Middle East expert James Dorsey said. Then came the COVID-19 pandemic and FIFA canceled the planned June 2021 relaunch in China of its Club World Cup event.

Persons: Gianni Infantino, Prince Mohammed bin Salman, sportswashing, Jamal Khashoggi, Prince Mohammed, Infantino, King Salman, Prince Mohammed's, “ Abraham, ”, Donald Trump, ” Infantino, Mohammed's, Cristiano Ronaldo, “ Mohammed bin Salman, James Dorsey, Greece —, —, Australia –, they’ve, James Johnson, “, Yasser Al Misehal –, – Organizations: GENEVA, FIFA, Australia, Qatar, White House, “ Abraham Accords, United Arab, Soccer, Newcastle, Russia, Saudi, ” Football Australia, ” FIFA, FIFA Council, Fox News Locations: Saudi Arabia, Persian, Saudi, U.S, Istanbul, Riyadh, Switzerland, Gulf, Israel, United Arab Emirates, Bahrain, Europe, Swiss, China, Qatar, United States, Canada, Mexico, Egypt, Greece, Africa, South America, Asia, Oceania, Saudi Arabian, Australia

☆ Mega-cap firm valuations fall amid rising rates, tech earnings concerns
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Paresh Dave/File Photo Acquire Licensing RightsNov 1 (Reuters) - Most global mega-cap stocks continued their slide in October, hit by the rise in U.S. interest rates and lacklustre third-quarter earnings growth among some top U.S. tech firms. Reuters Graphics Reuters GraphicsTesla's (TSLA.O) market value tumbled almost 20% to $638 billion last month, largely due to the impact of rising U.S. interest rates on electric vehicle (EV) demand. On the other hand, Microsoft's (MSFT.O) market value jumped 7.1% to $2.5 trillion, buoyed by its strong fiscal first-quarter results in all segments. This growth was attributed to strong performances in cloud computing and PC businesses, bolstered by increased customer interest in its artificial intelligence offerings.

Persons: Paresh Dave, Patturaja Murugaboopathy, Gaurav Dogra, Mark Potter Organizations: REUTERS, Google, Reuters Graphics Reuters, Panasonic Holdings, Nvidia, Oil, Thomson Locations: Mountain View , California, U.S, Japan, China, Saudi, Bengaluru

☆ Saudi Arabia Is Set to Be Sole Bidder for 2034 World Cup
▼ + stars: | 2023-10-31 | by ( Tariq Panja | More About Tariq Panja | ) www.nytimes.com time to read: +1 min

FIFA’s move to speed up the bidding for 2034 surprised many, coming 11 years before the scheduled start of the tournament and a full three years before the 2034 host was supposed to be decided. FIFA also said only bidders from Asia and Oceania, two of soccer’s six regional confederations, could be considered for selection. Saudi Arabia, which had for years been public about its desire to host the World Cup, moved fast to secure the tournament after FIFA set the rules this month. In the face of that support, Australian officials concluded they would have been overmatched if they challenged Saudi Arabia to secure the votes of the majority of FIFA’s 211 federations. Saudi Arabia has signed agreements in the past year with scores of FIFA’s member nations, committing millions of dollars to projects across Asia and lavishing attention on Africa, where it signed an agreement with the regional governing body and sponsored a new tournament.

Persons: Prince Mohammed bin Salman, Sheikh Salman bin Ibrahim al Khalifa Organizations: FIFA, Saudi Locations: Asia, Oceania, Saudi Arabia, Bahrain, Australia, Africa, Tashkent, Uzbekistan, Saudi Arabian

☆ Saudi Arabia set to host 2034 World Cup as Australia withdraws interest
▼ + stars: | 2023-10-31 | by ( Sammy Mncwabe | ) edition.cnn.com time to read: +4 min

CNN —Saudi Arabia is set to host the 2034 men’s FIFA World Cup after Australia withdrew its interest in hosting the global showpiece just hours before the bid deadline on Tuesday. Instead the Australia football federation has opted to proceed with their bids for the Women’s Asian Cup in 2026 and the FIFA Club World Cup in 2029. In a press release sent out on Tuesday, FIFA confirmed that Saudi Arabia was the only bidder for the 2034 tournament. In 2022, Oleksandr Usyk beat Anthony Joshua at the King Abdullah Sports City Arena in Jeddah, Saudi Arabia in a heavyweight title clash. To host the World Cup would be viewed as a major coup for Saudi Arabia, which has been frequently been criticized of sportswashing.

Persons: “, Oleksandr Usyk, Anthony Joshua, Andrew Couldridge, Prince Mohammed bin Salman, Luca Bruno, ”, Steve Cockburn Organizations: CNN, FIFA, Australia, ” Football Australia, FIFA Club, FIFA Council, ” FIFA, King Abdullah Sports City Arena, Formula One, Saudi Pro League, sportswashing, MBS, Fox News, Sports & Rights Alliance, Getty, Economic, Social, “ FIFA, Rights, Saudi Arabia Football Federation Locations: Saudi Arabia, Asia, Oceania, Spain, Portugal, Morocco, Uruguay, Paraguay, Argentina, Jeddah, Saudi Arabian, Saudi

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