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Exclusive: Saudi Aramco considers asset sales to free up funds, sources say
Saudi state oil giant Aramco is exploring potential asset sales to free up funds, two people with knowledge of the matter said, as it pursues an international expansion and weathers lower crude prices. Aramco (2223.SE), opens new tab is the world’s largest oil-producing company and the main source of Saudi state revenue. The firm will slash dividend payouts by nearly a third this year as lower oil prices hit its income. The company has asked investment bankers to pitch ideas for how to raise funds from its assets, the people said. They declined to say which assets could be sold or name the banks involved. Aramco declined to comment. Aramco is looking to improve efficiency and cut costs, according to two other people with knowledge of the matter, and an option under consideration would be asset sales, one of them said. The four sources declined to be named because they are not authorised to speak to media. Aramco is the engine of the Saudi economy and its sprawling business includes units for aviation, construction and sports. It has retained majority stakes during previous asset sales such as its deals around its pipeline infrastructure. The Saudi government is putting pressure on its industries to improve […]
14 minutes ago
Saudi Authorities Arrest Violators For Transporting Pilgrims Without Hajj Permits
The Ministry of Interior announced the arrest of 12 individuals — seven residents and five Saudi citizens — at Makkah’s entry points for violating Hajj regulations by transporting 33 people without valid permits to perform the pilgrimage. The ministry stated that seasonal administrative committees issued penalties against the transporters, their accomplices, and those they transported. The punishments included prison sentences, fines of up to SR100,000, public naming of the violators, deportation of resident offenders, and a 10-year re-entry ban following their sentence completion. Authorities also requested the judicial confiscation of vehicles used in the unauthorized transport of pilgrims and warned of fines up to SR20,000 for anyone attempting to perform Hajj without a permit. The ministry reiterated its call for all citizens and residents to comply with Hajj regulations to safeguard the safety and security of pilgrims during the holy season. In a related case, security patrols in the Makkah Region arrested four Indonesian nationals for promoting fraudulent Hajj campaigns on social media. The suspects offered fake accommodation and transportation services and were found in possession of forged Nusuk Hajj cards. They also harbored 14 individuals without Hajj permits in a building in violation of pilgrimage regulations. The suspects were […]
4 hours ago
“Criminal Act”: Kim Jong Un Seethes After Disastrously-Failed Warship Launch
North Korean leader Kim Jong Un was left humiliated outraged after personally witnessing the botched launch of a new, 5,000-ton destroyer on Thursday — going so far as to call it a “criminal act” and a “political issue directly related to the prestige of the state.” He’s promised accountability and, given his history of executing officials who fail to carry out their responsibilities, heads may be literally rolling in short order. Perhaps bowing to the reality that the satellite-observed accident couldn’t be kept secret, North Korea’s state-run Korean Central News Agency (KCNA) was quick to report on the debacle and Kim’s furious reaction. The incident unfolded at the northeastern port city of Chongjin. At what was set up to be a moment of national pride, the launch went terribly wrong when the stern slid down the slipway but the bow stood fast, wrenching the vessel and flipping it on its side. “The stern is seen swung out into the harbour as a result of the wheeled units placed under the frame sliding into the water while the bow remained on the side slipway,” the Center for Strategic and International Studies reported after reviewing satellite imagery. According to KCNA, the ship was left with holes torn into its […]
6 hours ago
Iran Tells US “Time To Decide” During 5th Round Of Nuclear Talks In Rome
Iranian Foreign Minister Abbas Araghchi and Trump’s Middle East envoy Steve Witkoff are leading a fifth round of nuclear talks which kicked off Friday in Rome, through Omani mediators. FM Araghchi said on X just ahead of the talks starting that it is “time to decide” – in post late Thursday. “Zero nuclear weapons = we DO have a deal. Zero enrichment = we do NOT have a deal,” the Iranian top diplomat stated. The US administration has of late been pushing a demand of no enrichment, but Tehran has rebuked this as a non-starter, saying it sees the issue as a right of national sovereignty. Araghchi had also written, “Figuring out the path to a deal is not rocket science.” Iranian Foreign Ministry spokesman Esmaeil Baghaei has said from Rome, “This round of talks is especially sensitive… we need to see what issues will be raised by the other party … and based on that, we will proceed with our positions.” This strongly suggests the Iranian side could be ready to quit the talks if Washington keeps insisting on its red line. Secretary of State Marco Rubio earlier this week admitted that getting Tehran to where the US wants it to be on the issue “will not be […]
16 hours ago
Saudi Customs Foils Five Attempts To Smuggle Over 242,000 Captagon Pills
The Zakat, Tax and Customs Authority (ZATCA) announced it has foiled five separate attempts to smuggle a total of 242,296 amphetamine pills into Saudi Arabia through the Al-Rub’ Al-Khali, Al-Haditha, and Al-Durra border crossings. According to ZATCA spokesperson Hammoud Al-Harbi, the largest seizure occurred at the Al-Rub’ Al-Khali port, where 202,570 pills were discovered hidden in parts of a truck entering the Kingdom. At Al-Haditha port, three separate attempts were intercepted. In the first, customs officers uncovered 9,859 pills concealed in compartments specially designed inside a truck. In the second, 6,040 pills were hidden within a shipment of electrical wires. The third attempt involved 11,424 pills found inside a vehicle’s drive shaft. The fifth attempt was thwarted at Al-Durra port, where officers found 12,403 amphetamine pills also concealed in a vehicle’s drive shaft. Following the seizures, ZATCA coordinated with the General Directorate of Narcotics Control to track and apprehend the intended recipients within Saudi Arabia. Authorities confirmed the arrest of two individuals in connection with the cases. Al-Harbi affirmed the Authority’s ongoing efforts to tighten customs control on imports and exports to protect society from narcotics and related threats, in close cooperation with the anti-narcotics directorate. He urged citizens and […]
16 hours ago
UAE Records Hottest May In Over A Decade As Temperatures Soar To 50.4°C
The UAE recorded a sweltering 50.4ºC, its highest temperature for May since it began documenting them in 2003, according to the National Centre of Meteorology (NCM). “The highest temperature recorded over the country today is 50.4°C (122.7 Fahrenheit) in Al Shawamekh (Abu Dhabi) at 14.30 UAE Local time,” it said in a post on X. “This is the highest temperature we’ve ever recorded (for May) since we started keeping records in 2003,” the NCM told AFP. That topped the highest temperature of 50.2ºC recorded in May 2009, said the centre. The country, prone to oven-like temperatures in the summer months, has been recording higher temperatures than usual even before the season begins. Last month, the UAE marked its hottest April on record with an average daily high of 42.6ºC. That topped the average daily high of 42.2ºC recorded in April 2017, said the centre, which has been keeping comprehensive figures since 2003. The NMC on Friday issued instructions to stay safe in the heat, advising residents to stay out of the sun, drink plenty of fluids, wear appropriate attire and use sunscreen.
17 hours ago
Kuwait Sentences Police Officers To 10 Years For Drug Smuggling
A Kuwaiti court has sentenced two policemen and a customs inspector to 10 years in prison each for attempting to smuggle drugs. The country’s Court of Appeals has upheld the conviction of the three, including a firefighting officer, on attempting to smuggle 1 million banned Lyrica pills at Kuwait Airport. The defendants had been arrested by the Kuwaiti anti-drug police after receiving information that they were smuggling the substance in seven suitcases, Al Qabas newspaper reported without specifying the date of the arrests. Several countries ban dealing in Lyrica pills because of potential abuse and addiction. In recent months, Kuwaiti authorities have announced foiling several bids to smuggle drugs into the country. Earlier this month, a shipment arriving at Kuwait’s Shuwaikh Port was found out to have contained 110kg of hashish that had been secretly hidden inside marble slabs. Two suspects — a Syrian national and an illegal resident with Eritrean citizenship— were arrested in connection with the bid, the Kuwaiti Interior Ministry said. They attempted to smuggle the shipment in collaboration with a person outside Kuwait identified as a Gulf national. In addition to the drugs, 6,000 Captagon pills, 5 grams of the intoxicating shabu substance, and a digital scale used in preparing and […]
17 hours ago
10 Injured In Mall Blast In Kuwait
Ten people were injured after an explosion (blast), caused by a gas leak, occurred at a shopping centre in southern Kuwait. The Kuwait Fire Service said in a statement that its personnel had responded to an explosion resulting from a gas leak at the mall in the Fahaheel area, in the southern governorate of Al Ahmadi, leaving 10 people injured. The incident also damaged the place, according to the Kuwaiti newspaper Al Anba. In a separate incident, one person was injured in a fire that erupted inside an apartment in a residential building in the Hawalli district, south of Kuwaiti City. Firefighters managed to extinguish the blaze, the cause of which is not clear yet.
17 hours ago
Eid Al Adha 2025: Oman To Observe Five-Day Holiday
The Sultanate of Oman will observe the first day of Eid Al Adha on Friday, June 6, 2025, said Dr. Subaih bin Rahman Al Saadi, an Omani expert in celestial sciences, according to Muscat Daily. Al Saadi’s prediction follows precise astronomical calculations indicating the sighting of the Dhul Hijjah crescent moon on the evening of Tuesday, May 27. “The conjunction of the crescent moon of Dhul Hijjah 1446 AH with the sun will occur at exactly 7:03:29 am local time on May 27,” Dr. Saadi added. He noted that the moon will set approximately 36 minutes after sunset in Muscat, positioned 8 degrees from the sun and elevated 7 degrees above the western horizon—conditions favorable for sighting the crescent. “These astronomical indicators confirm that Wednesday, May 28, will be the first day of Dhul Hijjah. Consequently, the Day of Arafah will fall on Thursday, June 5, and Eid Al Adha will begin on Friday, June 6,” Dr. Saadi stated. In accordance with Royal Decree No. 88/2022, Oman will observe the Eid Al Adha holiday from Dhul Hijjah 9 to 12. As the first day of Eid falls on a Friday this year, an additional compensatory day off will be granted to ensure a full holiday […]
17 hours ago
‘She Refused To Pay For Drugs’: Kuwaiti Man On Trial For Killing Mother, Stabbing Brother
A 28-year-old Kuwaiti man is currently on trial in Kuwait’s Criminal Court, facing charges of fatally stabbing his mother and seriously injuring his 10-year-old brother in the Sabah Al Salem district. The accused has confessed, stating that he was under the influence of crystal meth at the time of the attack. He claimed he assaulted his mother after she refused to give him money to buy more drugs. According to his statement, the refusal “drove him crazy,” prompting the fatal stabbing. When his younger brother witnessed the attack, the accused allegedly turned the knife on him, inflicting serious injuries. During a court session, Deputy Director of the Jahra Prosecution, Mohammed Talal Al Hajri, called for the death penalty. He described the crime as “heinous and deeply disturbing,” emphasising that the mother had “devoted her life, her health, and her youth to raising her son, only for her life to be ended at his hands.” “There can be no leniency in applying the law to anyone who dares to take a sacred life,” Al Hajri said. He stressed that the evidence against the accused was overwhelming and “forms a fabric of certainty and conviction, without doubt or ambiguity.” Al Hajri framed the crime as a […]
17 hours ago
Oman Unveils Nation’s Tallest Flagpole
The Sultanate of Oman officially unveiled its tallest flagpole yesterday at Al Khuwair Square. Soaring 126 meters, equivalent to a 40-storey building, the monumental structure now claims the title of the highest man-made feature in the country. The inauguration was held under the patronage of Sayyid Saud bin Hilal Al Busaidi, Governor of Muscat, and attended by Ahmed bin Mohammed Al Humaidi, Chairman of Muscat Municipality, alongside other senior officials. Raising the national flag atop this towering edifice, measuring approximately 18 metres in length and 31.5 metres in width, the event showcased Oman’s aspirations aligned with Vision 2040 for development and success. Constructed from 135 tonnes of steel, the flagpole features an outer diameter of 2,800 millimetres at its base tapering to 900 millimetres at the top. It is equipped with a warning light system for aircraft navigating the airspace. The Al Khuwair Square project aims to transform the area into an 18,000-square-metre multipurpose community hub. Planned facilities include a plaza, expansive lawns, walkways, a skate park, cycle paths, a cafeteria, and various entertainment and sports amenities, fostering vibrant social and business activity.
18 hours ago
UAE: Court Asks Man To Pay Dh70,000 For Social Media Comments
Posting defamatory comments on social media has come at a heavy price for a man in the UAE. The Al Ain Court for Civil, Commercial, and Administrative Claims has ordered a young man to pay Dh70,000 in compensation to the owner of a commercial establishment for damaging the shop’s reputation and causing financial losses through defamatory comments posted on a social media platform. Hefty compensation sought The case was brought by a businessman who demanded Dh200,000 in compensation for both material and moral damages, in addition to court fees and legal expenses. In his complaint, the claimant stated that the defendant had tarnished the reputation of his business by publishing statements that harmed its standing and resulted in financial loss. These statements were posted as comments on a social media platform. Proven guilty The defendant had already been convicted for this act under a criminal court judgment. In response, the defendant submitted a written defence requesting the court to dismiss the case. Alternatively, he asked the court to contact the Federal Tax Authority to provide the company’s tax returns for the period during which the claimant alleged a decline in sales due to the defendant’s actions. The defendant also sought […]
18 hours ago
We all want to live as long and as healthily as possible. Many healthy living hacks, such as lounging in a hot sauna or taking a cold plunge, claim to increase lifespan, but how effective are they? Growing research points to a different answer, suggesting that a few simple, consistent lifestyle habits can be far more effective at boosting longevity and well-being. Avoid Smoking, Drugs, and Drinking Excessive Alcohol Referring to a 2024 study examining nearly 720,000 U.S. veterans ages 40 to 99, Dr. Damon Noto, a rehabilitation medicine specialist, stated on the Epoch TV show Vital Signs that among eight lifestyle factors found to influence a person’s lifespan by more than 10 years, the most significant are whether a person has smoked, had an opioid use disorder, and their level of physical activity. Eat Healthy and Stay Active We know exercise is a healthy habit, but do we consider it life-saving? Noto said the veteran’s study shows exercise may add as much as a decade or more to our lives. He also examined the type of physical activity in the study. People in the study often stayed active by engaging in natural movement, such as gardening or participating in sports with their friends. […]
18 hours ago
Jihadists Launch Deadly Attack On Russian Airbase On Syria’s Coast
In another clear indicator of just how drastically everything has changed in Syria in the wake of Bashar al-Assad’s ouster in December last year, a militant group attempted to storm Russia’s Hmeimim air base on Syria’s coast on Wednesday. Already the future of the base is uncertain, but Russia has still been maintaining it – given also Hmeimim is Moscow’s only airbase on the Mediterranean. “Militants attacked a Russian air base in Syria, killing two soldiers, a Syrian government official and a local activist said Wednesday,” according to The Associated Press. Russian statements, which offered little detail, did not indicate if the slain were Russian soldiers or possibly foreign nationals who were contractors. At least two militants were killed during their assault on the airbase. They are being widely reported as foreign Islamist fighters affiliated with the new Syrian government’s military under President Sharaa (Jolani). The Jolani/HTS government has tried to distance itself from the attack, as it is still seeking diplomatic normalization with Russia and a reset in relations: The government official said the two militants who were killed were foreign nationals who had worked as military trainers at a naval college that was training members of the new government’s military. He said they had acted on […]
18 hours ago
Iraq Seals Major Oil Deal With Chinese Company
Iraq’s government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants. Per an AFP report, the deal will also involve the construction of a petrochemicals facility and a fertilizer plant. The refinery that Geo-Jade Petroleum will build will have a capacity of 200,000 barrels daily. One of the power plants will have a capacity of 650 MW and the other, a solar power facility, will have a capacity of 400 MW. “These projects with Geo-Jade represent a big leap in the development of Iraq’s oil wealth and supporting of the national economy,” Iraq’s oil minister, Hayan Abdel Ghani, said, adding that the deal would create thousands of jobs. Geo-Jade Petroleum already operates in Iraq – it is in charge of the Khana field, which is slated to begin expanded production in 2026. Chinese companies as a whole have built a solid presence in OPC’s number-two, driven by Beijing’s strategy to expand supply availability through both domestic and international investments. To date, more than a third of Iraq’s proven oil and gas reserves and as much as 66% of production are under the management of Chinese firms, Simon Watkins reported earlier this […]
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