
Saudi Arabian PIF plans to open three new courses, with one LIV golfer involved in design
There are a handful of golf courses in Saudi Arabia now, and the PIF said in a press release to announce the three new courses that the country plans to triple its total courses in the next few years.
The first of the three new courses will be Shura Links on Shura Island alongside the Red Sea. The release said that American-based Curley-Wagner Design signed on to lay out the course, which will play to a par of 72 at 7,601 yards. That course is slated to open in September of 2025.
Trojena Northern Golf Course will be the second of the new three courses. Located in the Sarwat Mountains, this mountain-top course will be laid out by McDowell & Dusenberry Design, which includes Northern Irishman Graeme McDowell, currently a LIV golfer and winner of the 2010 U.S. Open. An opening date has not been announced.
The third of the new three layouts will be Laheq Golf Course near the Red Sea. Curley-Wagner design also will lay out this course, with an estimated opening in 2028.
Plans for all three courses will be shown as part of a PIF Future Fairways display at the PIF Championship on the LET Tour at Centurion Club in London on Aug. 8-10, at the Aramco Houston Championship as part of the PIF Global Series on Sept. 5-7, and at the Aramco Shenzhen Championship at Mission Hills in China on Nov. 6-8. The display will include 3D mapping and simulators.
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NBC News
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- NBC News
What U.S. consumers can expect from new tariffs on imported goods
American businesses and consumers soon will have a better idea of how President Donald Trump's foreign trade agenda might affect them now that the United States has imposed higher tariffs on products from dozens of countries. It's been nearly 100 years since the nation had an overall import tax rate as high as the one set Thursday. But the individual impact on business costs and consumer prices could vary as much as the tariffs applied to goods of nearly 70 U.S. trading partners, from complicated economies like the European Union to the small African nation of Lesotho. Exports from a majority of them are getting taxed at 15%. For a handful of countries in Asia, the rate is 19%. Products from the rest are subject to taxes of 20% to 50%. Meanwhile, a 55% tariff on Chinese-made goods is scheduled to take effect next week if a U.S.-China trade deal is not agreed on before then. Businesses in the U.S. and abroad have been dealing in various ways since February with Trump's fluctuating tariffs on specific products and countries. Many automakers appeared to have absorbed the costs for now. But recent government data indicated that retail prices for groceries, furniture and appliances started creeping up in June. Because tariffs are a tax on imports, economists have expected U.S. consumers to foot at least part of the bill eventually. The country-specific round enforced Thursday, together with the president's earlier tariffs on specific sectors such as automobiles and steel, will increase prices 1.8% in the short term, the Budget Lab at Yale estimated. That's the equivalent of a $2,400 loss of income per U.S. household, according to the non-partisan policy research center The projections were based on an analysis of duties implemented this year through Wednesday, as well as a doubling of the levy on items made in India that Trump said would be implemented near the end of August. 'Retailers have been able to hold the line on pricing so far, but the new increased tariffs will significantly raise costs for U.S. retailers, manufacturers and consumers,' Jon Gold, vice president of supply chain and customs policy at the National Retail Federation trade group, said in an emailed statement to The Associated Press. Here's what to know about the tariffs and where U.S. consumers are most likely to notice effects: How we got here Trump unveiled sweeping import taxes on goods coming into the U.S. from 66 countries, the European Union, Taiwan and the Falkland Islands in April. He said the 'reciprocal' tariffs were meant to boost domestic manufacturing and restore fairness to global trade. The president paused the country-specific tariffs a week later but applied a 10% tax to most imports. In early July, he began notifying countries that their exports would be subject to higher tariffs on Aug. 1 unless they reached trade deals. A week ago, he pushed the start date to Thursday. In the meantime, Trump announced a 35% tariff on imports from Canada, but delayed action on Mexico while negotiations continued. However, a free trade agreement reached with Mexico and Canada during Trump's first term shields most of those countries' products from punishing duties. The president also ordered a 50% tariff on goods from Brazil. This week, he signed an executive order to take India's tariff rate from 25% to 50% for its purchases of Russian oil. The timing gives India and Russia a chance to negotiate with the Trump administration. Other duties not specific to countries remain in place, such as a 50% tariff on imported aluminum and steel announced in June. Trump also threatened 100% tariffs on computer chips that aren't made in the U.S. The administration has said tariffs are still coming on imported pharmaceutical drugs. Tariffs are already impacting prices The U.S. Commerce Department reported on July 31 that prices rose 2.6% in June, up from an annual pace of 2.4% in May. Earlier in July, the government reported that its primary inflation measure, the Consumer Price Index, also ticked higher in June as the cost of furniture, toys and other frequently imported items increased. Shoppers should be prepared to pay more for clothes and shoes because the combined tariffs 'disproportionately affect clothing and textiles,' according to the Budget Lab at Yale. It estimates that shoe prices will go up 39% temporarily and stay 19% above where they are now. For apparel, the Budget Lab put the comparable figures at 37% and 18%. Overall, Americans face an average tax of 18.6% for imported products, the highest rate since 1933, the research center said. Food and drink prices will climb The tariffs will almost certainly result in higher food prices, according to an analysis by the nonpartisan Tax Foundation. The U.S. simply doesn't make enough of some products, like bananas or coffee, to satisfy demand. Fish, beer and liquor are also likely to get more expensive, the foundation said. The U.S. Wine Trade Alliance and other alcohol industry trade groups sent a letter to Trump that warned a 15% tariff on European wines and spirits could result in more than 25,000 American job losses and cost the industry nearly $2 billion in lost sales. 'Mr. President, we need toasts, not tariffs, as we head into the most important season for our industry,' read the letter dated Wednesday. Wine distributors and retailers avoided price increases before now by accelerating shipments from France and other EU countries earlier in the year. But with the EU's tariff rate raised to 15% on Thursday, customers may see European wines costing 30% more in September, U.S. Wine Trade Alliance President Ben Aneff said. Car prices hold steady — so far Some automakers already raised prices to counteract tariffs. Luxury sports car maker Ferrari said last week it was waiting for more details of Trump's trade deal with the EU before scaling back a 10% surcharge it put on most vehicles in the U.S. For the most part, automakers waited for details instead of passing on tariff costs to consumers. But that could change. General Motors said on July 22 that the impact of the tariffs could get more pronounced in the third quarter of the year. GM has estimated the tariffs will cost it $4 billion to $5 billion this year. Toyota reported Thursday a 37% drop in profits in the April-June quarter, cutting its full-year earnings forecasts largely because of Trump's tariffs. Still a clouded picture Even with so many new tariffs kicking in, the tariff situation remains fluid. Trump's use of an emergency powers law to implement tariffs is being challenged in the courts. The case is expected to wind up before the U.S. Supreme Court. Moreover, the tariffs on goods from China haven't been finalized. Consumers may start seeing more effects when the administration ends a tax exemption for small parcels sent from other countries. Trump last week signed an order to suspend the 'de minimis' exemption that has allowed shipments valued at $800 or less to enter the U.S. duty-free. International e-commerce companies have widely used the rule to avoid paying customs charges. Trump withdrew the exemption in early April for goods shipped from China and Hong Kong tariff-free. It is now set to be eliminated for low-value packages from every country on Aug. 29.


Business Insider
2 hours ago
- Business Insider
Firefly Aerospace Stock (FLY) Craters Nearly 30% after Strong IPO
Texas-based space company Firefly Aerospace (FLY) saw its stock plunge on Friday, just one day after its trading debut. This drop wiped out most of the gains from Thursday, when excitement around the company's IPO pushed shares up sharply. The dip suggests that investor excitement may be cooling off after a strong initial surge, but the company is still in the spotlight following its high-profile market entry. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Indeed, the company raised nearly $870 million through an upsized IPO and saw its shares close 34% above the offering price of $45. This comes after Firefly overcame some major challenges in recent years, including bankruptcy and rocket development delays. In fact, the firm is gaining traction with big clients, such as the U.S. Space Force, and claims to be the first private company to achieve a soft landing on the Moon. Firefly is also part of the current trend of successful IPOs in 2025. Other new listings, like stablecoin issuer Circle (CRCL) and design software company Figma (FIG), have also performed well. According to Renaissance Capital, this year's $100 million-plus IPOs have seen a median first-day gain of over 18%, the best since 2021. In addition, the Renaissance IPO ETF (IPO), which tracks these companies, is up 12% so far this year, thereby outperforming the S&P 500's (SPY) 8% gain. Is FLY Stock a Buy? It's too early for analysts to rate Firefly Aerospace's stock. So instead, we'll look at the performance of its rival, Voyager Technologies (VOYG), which went public recently. As one can see below, the stock currently has a Moderate Buy consensus rating based on five Buys and two Holds issued in the last three months. Furthermore, the average VOYG price target of $49 implies 59.7% upside from current levels.


Business Upturn
2 hours ago
- Business Upturn
Earth Science Tech, Inc. Reports 61% Asset Growth to $7.69 Million and $8.7 Million in First Quarter Revenue Following Foundational Quarter of Strategic Acquisitions
MIAMI, FL, Aug. 08, 2025 (GLOBE NEWSWIRE) — MIAMI, FL – August 8, 2025 – Earth Science Tech, Inc. (OTC: ETST) ('ETST' or the 'Company'), a strategic holding company focused on acquiring and scaling high-potential operating businesses, today announced its financial and operational results for the first fiscal quarter ended June 30, 2025. Giorgio R. Saumat, ETST's CEO, commented: 'The first quarter of fiscal 2025 was a pivotal period for Earth Science Tech. We strategically deployed capital to acquire high-potential operating businesses that are now poised to enhance our diversified product and service offerings. This was a foundational quarter, setting the stage for the future. Our focus has now firmly shifted from acquisitions to maximizing the value and profitability of our current divisions, ensuring we capitalize on these strategic investments for our shareholders throughout the remainder of the fiscal year.' First Quarter Fiscal 2025 Financial Highlights Total Assets: Increased by 61% to $7.69 million as of June 30, 2025, up from $4.77 million in the prior-year period. Increased by 61% to $7.69 million as of June 30, 2025, up from $4.77 million in the prior-year period. Revenue: Generated $8.7 million as of June 30, 2025, an increase from $8.5 million in the prior-year period. Generated $8.7 million as of June 30, 2025, an increase from $8.5 million in the prior-year period. Shareholder Value: Reduced total common shares outstanding by 4.78% to 294,297,607 as of June 30, 2025, down from 309,067,711 shares in the prior-year period. Reduced total common shares outstanding by 4.78% to 294,297,607 as of June 30, 2025, down from 309,067,711 shares in the prior-year period. Cash Position: Reported cash and cash equivalents of $0.88 million. The decrease from $1.38 million in the prior-year period is a direct result of the strategic deployment of capital to fund key acquisitions. Strategic and Operational Update During the first quarter, ETST executed its growth strategy by investing in and acquiring a portfolio of operating businesses: Healthcare Expansion: Acquired 100% of Las Villas Health Care, Inc., a Coral Gables-based wellness center, and DOConsultation, LLC, a telehealth company. Acquired 100% of Las Villas Health Care, Inc., a Coral Gables-based wellness center, and DOConsultation, LLC, a telehealth company. Direct-to-Consumer Brands: Secured 80% ownership of Magnefuse, LLC, and Alicat, LLC (the 'MagneChef Portfolio'), DTC brands with a portfolio of unique patents and intellectual property. Secured 80% ownership of Magnefuse, LLC, and Alicat, LLC (the 'MagneChef Portfolio'), DTC brands with a portfolio of unique patents and intellectual property. Operational Infrastructure: Established a new customer service center in Doral, FL, to centralize support operations across all ETST divisions. Subsequent to the quarter's end, the Company has continued to execute on its operational goals: Enhanced Compliance: Joined the OTCID Tier on the OTC Markets, providing enhanced disclosure and transparency for investors. Joined the OTCID Tier on the OTC Markets, providing enhanced disclosure and transparency for investors. Compounding Pharmacy Expansion: The Company's MisterMeds, LLC division is now fully staffed and operational, actively dispensing in Texas and securing new accounts. The Company's MisterMeds, LLC division is now fully staffed and operational, actively dispensing in Texas and securing new accounts. Real Estate Development: Avenvi, LLC, an ETST division, has broken ground on its first residential development, with the project progressing on schedule. About Earth Science Tech, Inc. Earth Science Tech, Inc. operates as a strategic holding company, focused on value creation through the acquisition, operational optimization, and management of its operating businesses. The Company's current operations include compounding pharmaceuticals, telemedicine and real estate development through its wholly owned subsidiaries: LLC, Peaks Curative, LLC, Avenvi, LLC, Mister Meds, LLC ('Mister Meds'), and Earth Science Foundation, Inc., Las Villas Health Care, Inc., DOConsultations, LLC., and an 80% interest in MagneChef. To learn more, please visit: LLC. based in Miami, Florida, is a fully licensed compounding pharmacy authorized to fulfill prescriptions in the following states and territories: Arizona, Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Maine, Maryland, Minnesota, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, Utah, Wisconsin and Puerto Rico. RxCompound is actively pursuing licensure in the remaining U.S. states. To learn more please visit: MisterMeds, LLC. Mister Meds, acquired on October 1, 2024, is in Abilene, Texas. The pharmacy received full compounding licensure in March 2025. It operates out of a 5,000 sq. ft. facility owned by Avenvi and includes advanced sterile compounding capabilities with both positive and negative pressure environments, as well as hazardous drug handling. Mister Meds is currently applying for licensure in states not yet serviced by RxCompound. To learn more please visit: Peaks Curative, LLC. Peaks is a telemedicine referral platform offering asynchronous consultations for Peaks-branded compounded medications prepared at RxCompound and Mister Meds. The platform operates in states where either pharmacy is licensed. Through the development of its own healthcare provider network, and ongoing licensure expansion for both pharmacies, Peaks aims to offer services nationwide. In addition, the company has recently expanded into the veterinary market through the acquisition of To learn more please visit: Las Villas Health Care, Inc. Las Villas is a brick-and-mortar healthcare facility dedicated to the Spanish speaking community. Our expert-led services include advanced sexual health treatments, and customized solutions to enhance physical performance. We combine compassionate, personalized care with clear, trustworthy education—empowering you to take control of your health with confidence. To learn more please visit: LLC. Doconsultation was born with a passion to modernize the availability and delivery of home therapies. DOConsultations providers tailor a medication plan around your health and wellness goals and follow up with our patients to ensure results, while our partner pharmacies conveniently ship directly to your door. To learn more please visit: Avenvi, LLC. Avenvi is a diversified real estate company engaged in development, asset management, and financing. With a growing portfolio of real estate holdings, Avenvi provides turnkey solutions from development to end-user financing. It also manages investment activities for ETST and oversees the Company's ongoing $5 million share repurchase program. To learn more please visit: MagneChef MagneChef is a direct-to-consumer retail brand. Utilizing its patents and intellectual properties, the company aims to develop new products that can be marketed and sold online. Currently, the company has developed products for cooking. MagneChef is in the process of expanding its product line for new offerings that incorporate its intellectual property. To learn more please visit: About Earth Science Foundation, Inc. Earth Science Foundation Inc. a 501(c)(3) nonprofit organization incorporated on February 11, 2019, is the charitable arm of ETST. ESF accepts grants and donations to assist individuals who need financial support for prescription costs at both RxCompound and Mister Meds. SAFE HARBOR ACT: Forward-Looking Statements. Except for historical information, the matters discussed herein may be considered 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management, including, without limitation, future-oriented statements related to cash flow, gross margins, revenues, and expenses. These statements are based on and reflect our current expectations, estimates, assumptions and/or projections, our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts. They may include forward-looking words such as 'expect,' 'expectation,' 'believe,' 'anticipate,' 'may,' 'could,' 'intend,' 'belief,' 'plan,' 'estimate,' 'target,' 'predict,' 'likely,' 'seek,' 'project,' 'model,' 'ongoing,' 'will,' 'should,' 'forecast,' 'outlook' or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties that may cause the Company's actual results to differ materially from our intent, belief or current expectations, including, inter alia, the markets for the Company's products and services, costs of goods and services, other expenses, government regulations, litigations, and general business conditions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. The Company assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law. Company Contact:Giorgio R. SaumatCEO and Chairman of the Board(305) 724-5684 [email protected]