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Arab News
24-07-2025
- Sport
- Arab News
Sands Sports Park playing key role in improving quality of life in Riyadh
RIYADH: The capital's Sands Sports Park is one of the flagship components of the Sports Boulevard project, combining the natural beauty of the desert with a range of sporting facilities. Located southeast of King Khalid International Airport, the park is designed to enhance residents' quality of life, inspiring them to exercise and enjoy nature, the Saudi Press Agency reported recently. The facility opened earlier this year and is a significant addition to the Kingdom's growing network of sporting and entertainment offerings. The park stretches across a vast expanse of sand dunes and features more than 45 km of multi-use trails, making it the longest open-air project dedicated to outdoor activities in the Kingdom. Sands Sports Park was designed with local heritage in mind, and features sculptures of the Najdi rose at the convergence of several trails. Several specialized trails offer different activities including cycling, mountain biking, running, walking, hiking and horseback riding. In its construction, more than 350,000 sq. meters of sand dunes were rehabilitated with facilities integrated into the terrain to preserve the natural ecosystem, demonstrating dedication to sustainability and mindful urban development. The park is also equipped to host major cycling competitions and endurance races, reinforcing Saudi Arabia's presence on the global map of sports and eco-tourism, aligning with the rising international interest in outdoor and sustainable experiences. As a symbol of Riyadh's dynamic transformation, the park merges modern vision with cultural authenticity, aligning with the goals of Saudi Vision 2030, the SPA reported. By expanding access to safe, inclusive, and sustainable recreation, the park plays a key role in shaping a more vibrant, livable capital and encouraging a deeper connection between people and nature.
Yahoo
03-03-2025
- Business
- Yahoo
Indonesia Defers Short-Selling Amid High Stock Volatility
(Bloomberg) -- Indonesia's financial regulator will defer short-selling of stocks by investors amid heightened volatility in the nation's equity markets. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty Remembering the Landscape Architect Who Embraced the City NYC Office Buildings See Resurgence as Investors Pile Into Bonds Hong Kong Joins Global Stadium Race With New $4 Billion Sports Park NJ Transit to Deploy Customer-Service Teams After Record Delays The nation may delay implementing short-selling to later this year, depending on market volatility, said Inarno Djajadi, head of capital markets supervision at the Indonesia Financial Services Authority. Regulators will also review allowing share buybacks without a shareholder meeting, he said. Indonesia initially planned to introduce short-selling in the second quarter this year. The decision to defer it came after the regulators held a meeting with brokers and fund managers on Monday to discuss recent market conditions as local equities sank into bear market last week before bouncing back on Monday. The local stock exchange, known as IDX, was planning to allow domestic retail investors to short-sell 10 stocks to increase options for investors during bearish markets, its development director Jeffrey Hendrik said last month. The recent selloff in Indonesia sent the benchmark Jakarta Composite Index into a technical bear market Friday as negative sentiment from global trade tensions, flat economic growth and the government's spending plans weighed on the market. The gauge surged 4% Monday, its biggest gain in almost five years, as banking stocks rallied after JPMorgan upgraded some of the nation's lenders. --With assistance from Tassia Sipahutar. (Updates with regulator's comments in second paragraph.) Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience The US Is Withdrawing From Global Health at a Dangerous Time ©2025 Bloomberg L.P.
Yahoo
03-03-2025
- Business
- Yahoo
Philippines Has to Be Ready in Case US Aid Dries Up, Envoy Says
(Bloomberg) -- The Philippines is optimistic of Washington's continued military support under President Donald Trump, but the Southeast Asian nation should be prepared if aid is discontinued, Manila's envoy to the US said, in the wake of renewed pressure between America and its western allies. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty Remembering the Landscape Architect Who Embraced the City NYC Office Buildings See Resurgence as Investors Pile Into Bonds Hong Kong Joins Global Stadium Race With New $4 Billion Sports Park NJ Transit to Deploy Customer-Service Teams After Record Delays 'I think all of that will remain. I am confident that it will,' Jose Manuel Romualdez, told foreign reporters during a forum on Monday, referring to American aid and defense support for the Philippines. Trump's state and defense secretaries have reaffirmed Washington's ironclad support for the Philippines' security as the Southeast Asian nation faces down an ongoing maritime dispute with Beijing. But the Philippines should also be self-reliant, Romualdez said following the breakdown of Trump and Ukraine President Volodymyr Zelenskiy's meeting last week. The incident, he said, shows that the Trump administration wants to end its financial support for Ukraine. 'We have to all be ready for that type of situation,' he said. 'It may be some other president in the future, but at the end of the day, each country now has to be ready to be able to beef up its own defense, beef up its own economic security.' The Trump administration has exempted $336 million in military financing from the freeze on US aid, and Romualdez said 'we are hopeful that the succeeding monies will be made available to us in the next couple of years.' The Philippines and the US bolstered security ties under the previous Biden administration, with Manila granting US military access to more Philippine sites and Washington pledging to spend more to boost its ally's defense capacity amid rising tensions with Beijing. 'The Philippines faces an existential threat in the South China Sea and our desire to develop our defense capabilities to address this threat aligns with US interest to maintain peace and stability in this part of the world,' Romualdez said. US-Philippine relations have withstood the test of time and 'will continue to do so under the Trump administration,' Romualdez reiterated Monday. A meeting between Trump and Philippine President Ferdinand Marcos Jr. is also being arranged, the diplomat said. (Updates with more comments from envoy and background.) Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience OXO Fought Back Against the Black Spatula Panic. People Defected Anyway ©2025 Bloomberg L.P.
Yahoo
03-03-2025
- Business
- Yahoo
Bond Yields Rise as Defense Promises Ripple Around the World
(Bloomberg) -- Bond yields rose on Monday after European leaders gathered to support Ukraine and discuss improved security measures for the continent, prompting investors to prepare for a surge in defense spending. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty Remembering the Landscape Architect Who Embraced the City NYC Office Buildings See Resurgence as Investors Pile Into Bonds Hong Kong Joins Global Stadium Race With New $4 Billion Sports Park NJ Transit to Deploy Customer-Service Teams After Record Delays The rate on German 10-year bonds rose two basis points to 2.43%, while defense stocks buoyed European indexes and the euro strengthened. The move helped boost global risk appetite, which has been on the rise since late Friday amid US equity gains and an advance for crypto over the weekend. US yields also rose. The latest moves follow reports that Germany's probable next government is considering setting up two special funds for defense and infrastructure spending which could amount to hundreds of billions of euros, according to Reuters. 'It would be a fiscal regime shift of historic proportions,' said Robin Winkler, chief German economist at Deutsche Bank AG, in a client note. 'If reports over the weekend proved correct, the two funds would add up to a significant fiscal impulse.' One pressure valve that is sensitive to changes in the supply of German debt — the bund swap spread — fell to a record low, reflecting the concern among investors who will be tasked with absorbing more sales. 'Defense spending looks like it will be both on a national level and on an EU level - but there is no doubt that defence spending will increase significantly,' said Jens Peter Sorenson, chief analyst at Danske Bank. 'There will be more issuance in the long end of the curve so investors want to have risk premium.' The euro rose 0.3% against the dollar to $1.0403 as a gauge of the greenback pulled back from a two-week high. Germany's benchmark stock index rose as much as 0.9%, led by a surge in defense stocks and outperforming euro area peers. 'If Russia wins this war, there is no euro,' said Timothy Ash, senior EM sovereign strategist at RBC Bluebay Asset Management, on Bloomberg TV. 'This is an existential threat to the euro, it's like Covid, it's about our security and national defense. We need to find the money.' The yield on US 10-year debt rose three basis points to 4.24% ahead of the publication of US ISM data for February. --With assistance from Alice Atkins and Naomi Tajitsu. Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience OXO Fought Back Against the Black Spatula Panic. People Defected Anyway ©2025 Bloomberg L.P.
Yahoo
03-03-2025
- Business
- Yahoo
Ukraine Bonds Drop as Trump Feud Shakes Up East European Trades
(Bloomberg) -- Ukraine's dollar bonds slid the most since last year's restructuring as divisions between the US and Europe on the peace process shook investors expecting an orderly move toward a ceasefire. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty Remembering the Landscape Architect Who Embraced the City NYC Office Buildings See Resurgence as Investors Pile Into Bonds Hong Kong Joins Global Stadium Race With New $4 Billion Sports Park NJ Transit to Deploy Customer-Service Teams After Record Delays East Europe's assets — which rallied this year on expectations for a quick resolution to the war in Ukraine, were mixed, with currencies showing renewed strength on Monday. Ukraine's zero-coupon dollar-notes maturing in 2035 fell more than 3 cents on the dollar to around 63 cents. The sovereign's foreign bonds were the day's worst emerging-market performers. Investors are trying to gauge what's left of peace prospects in the wake of President Volodymyr Zelenskiy's clash at the White House with Donald Trump and a summit by European leaders which tried to keep the US engaged. Pavel Mamai, managing partner at Promeritum Investment Management, said Ukraine bonds may have rallied too quickly on hopes for a deal. 'Expectations were for a very easy and quick deal before market participants understood last week that it's going to take time,' London-based Mamai said. 'But regardless of how the war ends, whether it's a very strong peace agreement or whether a truce with risks, it's going to be positive for the bonds.' The Polish zloty, which hit a 10-year high against the euro last week, was up as much as 0.6% in early European trade, with the Hungarian forint also gaining. The WIG20 stock index in Warsaw, which has been a key beneficiary of trades betting on an eventual peace deal in Ukraine, was down 0.6%. Astarta Holding, a Ukrainian agricultural company listed in Warsaw, fell 11%. 'Expectation of a cease fire have been a major factor, together with a rally in US rates, contributing to appreciation of CEE currencies this year and headlines on this topic are likely to continue to cause volatility,' Wojciech Stepien, an analyst at BNP Paribas SA in Warsaw. --With assistance from Konrad Krasuski. Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience OXO Fought Back Against the Black Spatula Panic. People Defected Anyway ©2025 Bloomberg L.P. Sign in to access your portfolio
