DUBAI: Saudi Arabian state oil group Aramco on Tuesday reported a 44.6 percent drop in third-quarter net profit, in line with analysts’ estimates, dented by lower crude oil prices and volumes sold as the coronavirus crisis choked demand.
Weaker refining and chemicals margins have also hit the company’s net profit, which fell to $11.79 billion for the quarter ended Sept. 30 from $21.29 billion riyals last year.
Analysts had expected a net profit of $11.89 billion in the third quarter, according to the mean estimate from three analysts, provided by Refinitiv.
“We saw early signs of a recovery in the third quarter due to improved economic activity, despite the headwinds facing global energy markets,” Saudi Aramco Chief Executive Officer Amin Nasser said in a statement.
The company said it would distribute a dividend of $18.75 billion for the third quarter of this year, in line with its plan to pay a base dividend of $75 billion for 2020.
Saudi Aramco Q3 profit slumps 44.6% as coronavirus pandemic chokes demand
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Saudi Aramco Q3 profit slumps 44.6% as coronavirus pandemic chokes demand
- Weaker refining and chemicals margins have also hit the company’s net profit
- Company said it would distribute a dividend of $18.75 billion for the third quarter of this year
In Bollywood-obsessed India, art-house film wins accolades, audiences
- Audiences in India are raised on a staple diet of Bollywood and other mainstream films, complete with song-and-dance routines, violence and melodrama
- With more than $2 million in box office sales globally, ‘All We Imagine as Light’ also has entries to the Academy Awards for best picture and best director
MUMBAI: Indian cinema is best known for Bollywood extravaganzas, but an art-house film about three women navigating loneliness and love in a metropolis is gaining viewers and earning international recognition, including nominations to the Golden Globe awards.
“All We Imagine as Light,” a multi-language film set in Mumbai, the country’s financial capital, has won several international awards this year, including the Grand Prix at Cannes, and is the first Indian film to be nominated in the Best Director category at the Golden Globes, which will be presented on Jan. 5.
It has also been nominated in the Best Picture category for non-English movies.
For director Payal Kapadia, the response to her debut film in her home country is an added bonus to the accolades it has earned abroad.
“It’s very difficult for independent films to get screens in India. I am very happy with the response. Now, I want to show the film in places in the country where it has not been shown so far, the smaller cities,” Kapadia told Reuters in an interview.
Independent, art-house films don’t find too many takers in India, where audiences are raised on a staple diet of Bollywood and other mainstream films, complete with song-and-dance routines, violence and melodrama, although more serious content on streaming platforms is slowly changing tastes.
With more than $2 million in box office sales globally, “All We Imagine as Light” also has entries to the Academy Awards for best picture, best director and best original screenplay, said a representative from Sideshow and Janus Films, which own the distribution rights in the US
But it was not India’s official submission to the Best Foreign Film category at the Oscars.
Kapadia, 38, said she thought of the idea of the film in a hospital waiting room. Initially conceived as a short film, it took eight years to make.
Former US President Barack Obama picked it as one of his favorite films of the year, in a list he shared on social media.
The story revolves around the friendship and love lives of three immigrant women who live and work in Mumbai, the congested metropolis of more than 12 million people, an important leitmotif in her film.
“Mumbai is a city of many contradictions. While life can be tough here, it gives people a sense of freedom as well. We tried capturing that in the film too,” Kapadia said.
Pakistan vows to extend ‘practical support’ to rehabilitate Palestinian educational institutions
- At least 625,000 children have been denied entire year of school due to Israel’s war on Gaza, says UNICEF
- Pakistan and COMSTECH have partnered to provide fully funded scholarships for hundreds of Palestinians
ISLAMABAD: Pakistan’s Education Minister Dr. Khalid Maqbool Siddiqui on Thursday vowed to extend “practical support” to rehabilitate educational institutions in Palestine, the OIC’s Standing Committee on Scientific and Technological Cooperation (COMSTECH) said.
Israel’s military campaigns in Gaza since Oct. 7, 2023, have killed over 44,000 Palestinians. Israel’s bombardment has dealt a heavy setback for education in the area, and according to a report by UNICEF, 625,000 children have been denied an entire school year in Gaza. With the conflict still ongoing, they face the high risk of a second year without education.
COMSTECH, in collaboration with the Association of Private Sector Universities of Pakistan (APSUP), initiated a program in 2021 offering 500 fully funded scholarships and fellowships to Palestinian students. This number was increased to 5,000 scholarships in 2023. Many Palestinian students have already arrived in Pakistan under this program and are pursuing full-degree programs.
Siddiqui, along with COMSTECH Coordinator General Dr. Muhammad Iqbal Choudhary, visited the Palestinian embassy in Islamabad to discuss matters related to education with Palestinian Ambassador Dr. Zuhair Zaid.
“He [Siddiqui] assured that Pakistan is committed to extending practical support for the rehabilitation of educational institutions in Palestine,” a press release by COMSTECH said.
The Pakistani minister reiterated his government and people’s steadfast support for Palestine, COMSTECH said.
“Sharing insights from his recent visit to Oman, he revealed discussions with educational ministers from other countries about joint actions to assist Palestine in the education sector,” it added.
Siddiqui said he has proposed convening an extraordinary meeting of the education ministers from OIC member countries in Islamabad to devise a “comprehensive long-term plan for supporting Palestine.”
Zaid expressed thanked the government, COMSTECH and people of Pakistan, the OIC body said.
“He acknowledged their steadfast support, emphasizing that these efforts will never be forgotten by the Palestinian people,” the statement said.
Haaland penalty failure and Fernandes red card pile on woes for City and United in Premier League
- Liverpool rallied to a 3-1 win over Leicester in foggy conditions at Anfield and moved seven points clear atop the standings approaching the halfway point of the campaign
- Nottingham Forest won 1-0 against Tottenham and are a big surprise in third place
LONDON: Erling Haaland’s failure from the penalty spot and Bruno Fernandes’ latest red card compounded the woes of Manchester City and Manchester United on another tough day for the two Premier League giants.
There were no such problems Thursday for Liverpool, who rallied to a 3-1 win over Leicester in foggy conditions at Anfield and moved seven points clear atop the standings approaching the halfway point of the campaign.
City dropped more points in their improbably poor run of form by drawing 1-1 at home to Everton, with Haaland having a spot kick saved by England goalkeeper Jordan Pickford in the 53rd minute.
The four-time defending champions have only won one of their last 13 games in all competitions and manager Pep Guardiola acknowledged he needs to spend in the January transfer window to reverse City’s slide.
“The transfer window in the winter is not easy, but even the players know that we have to add some new players,” said Guardiola, who has had to cope without a host of key players, including Ballon d’Or winner Rodri, through injury this season.
While City are languishing in seventh place, United are even further adrift in 14th place after a 2-0 loss at lowly Wolverhampton.
United played almost the entire second half with 10 men after Fernandes collected his second yellow card in the 47th minute. It was the United captain’s third sending-off of the season, though one was rescinded.
After seeing second-place Chelsea also drop points after conceding in the fifth minute of stoppage time to lose 2-1 at home to Fulham, Liverpool recovered from conceding in the sixth minute against Leicester to extend their lead. Cody Gakpo, Curtis Jones and Mohamed Salah scored Liverpool’s goals.
Nottingham Forest won 1-0 against Tottenham and are a big surprise in third place.
City pain
City secured only their fifth point in the league since the end of October but that will be scant consolation to Guardiola, whose beleaguered team squandered a winning position after going ahead through Bernardo Silva’s deflected shot in the 14th. Iliman Ndiaye equalized in the 36th.
Haaland’s penalty failure means the Norway international has only scored once in his last seven games. He headed in from the rebound after his spot kick, but the goal was ruled out for offside.
Haaland, who last week admitted his form had not been good enough during a run that has seen City’s season unravel, held his head in his hands after his failure to score from the spot. He still has 18 goals in 25 appearances this season, but has not scored in a win for his club since the 1-0 victory against Southampton on Oct. 26.
“We shoot a lot in the 18-yard box, but unfortunately we could not get the results that we wanted,” Guardiola said.
City’s damaging run has seen them slip down the standings in the league and crash out of the English League Cup. Guardiola’s team is also in danger of missing out on qualifying in the Champions League — sitting just one point above the cut-off point with two games left.
Goal from a corner
Wolves’ first goal against United came direct from a corner, with Brazil striker Matheus Cunha seeing his kick curl over the head of goalkeeper Andre Onana and into the far corner in the 58th minute.
“I was shooting — we train to shoot,” Cunha said.
Such goals are rare, though United also conceded from a corner in its 4-3 loss to Tottenham in the English League Cup this month. Son Heung-min scored on that occasion.
Wolves added a second through Hwang Hee-chan in the ninth minute of stoppage time and have won two straight games since Vitor Pereira replaced Gary O’Neil as manager. Cunha has 10 goals this season.
Salah scores again
Salah moved three goals clear of second-place Haaland in the race for the Golden Boot, his 16th of the campaign completing Liverpool’s recovery after Gakpo curled in the equalizer in first-half stoppage time and Jones made it 2-1 in the 49th.
Salah has scored at least one goal in nine of his last 10 league matches, and has 19 goals in all competitions this season.
Liverpool are unbeaten in their last 20 matches in all competitions, the only defeat all season under new manager Arne Slot coming at home to Forest in the league in September.
“This year feels different,” Salah said of Liverpool’s title chances, “but the most important thing is we need to stay humble.”
Chelsea slump
Chelsea have dropped points in successive games, after drawing 0-0 at Everton last week.
The Blues gave up a lead earned by Cole Palmer in the 16th as Harry Wilson equalized in the 82nd and Rodrigo Muniz grabbed a late winner for Fulham, which won at Stamford Bridge for the first time in 45 years.
Arsenal can now jump from fourth to second with a win against Ipswich on Friday.
Forest win again
Forest’s remarkable season shows little sign of slowing after Anthony Elanga’s winner against Tottenham at the City Ground. Forest are a point behind Chelsea.
Aston Villa was already a goal down to Newcastle after Anthony Gordon’s strike in the second minute when Jhon Duran was sent off in the 32nd. Alexander Isak and Joelinton added goals for the hosts in a 3-0 win.
West Ham had to cope with first-half injuries to defender Max Kilman and goalkeeper Lukasz Fabianski, but still won 1-0 at Southampton.
North Korean soldier captured in Russia-Ukraine war: Seoul
- The soldier was captured by the Ukrainian army
- Location where he was seized was unknown
SEOUL: South Korea’s spy agency said Friday it had confirmed that a North Korean soldier sent to back Russia’s war against Ukraine had been captured by Ukrainian forces.
Pyongyang has deployed thousands of troops to reinforce Russian troops, including in the Kursk border region where Ukraine mounted a shock border incursion in August.
“Through real-time information sharing with an allied country’s intelligence agency, it has been confirmed that one injured North Korean soldier has been captured,” South Korea’s National Intelligence Service said in a statement.
The soldier was captured by the Ukrainian army, an intelligence source told AFP, adding that the location where he was seized was unknown.
The first confirmation of the capture of a North Korean soldier came days after Ukrainian President Volodymyr Zelensky said Monday that nearly 3,000 North Korean soldiers had been “killed or wounded” so far.
Seoul’s Joint Chiefs of Staff (JCS) also said Monday that more than 1,000 North Korean soldiers have been killed or wounded.
The JCS had also said that Pyongyang is reportedly “preparing for the rotation or additional deployment of soldiers” and supplying “240mm rocket launchers and 170mm self-propelled artillery” to the Russian army.
Seoul’s military believes that North Korea was seeking to modernize its conventional warfare capabilities through combat experience gained in the Russia-Ukraine war.
North Korean state media said Friday that Russian President Vladimir Putin sent a New Year’s message to North Korean leader Kim Jong Un, saying “the bilateral ties between our two countries have been elevated after our talks in June in Pyongyang.”
A landmark defense pact went into effect in December after the two sides exchanged ratification documents.
Putin hailed the deal in June as a “breakthrough document.”
UN chief condemns ‘escalation’ between Yemen’s Houthis and Israel
NEW YORK: The UN chief on Thursday denounced the “escalation” in hostilities between Yemen’s Houthi rebels and Israel, terming strikes on the Sanaa airport “especially alarming.”
“The Secretary-General condemns the escalation between Yemen and Israel. Israeli airstrikes today on Sana’a International Airport, the Red Sea ports and power stations in Yemen are especially alarming,” said a spokesperson for UN Secretary-General Antonio Guterres in a statement.
Israeli air strikes pummelled Sanaa’s international airport and other targets in Yemen on Thursday, with Houthi rebel media reporting six deaths.
The attack came a day after the Houthis fired a missile and two drones at Israel.
World Health Organization chief Tedros Adhanom Ghebreyesus said on social media he was at the airport during the strike, with the UN saying that a member of its air crew was injured.
The United Nations put the death toll from the airport strikes at three, with “dozens more injured.”
UN chief Guterres expressed particular alarm at the threat that bombing transportation infrastructure posed to humanitarian aid operations in Yemen, where 80 percent of the population is dependent on aid.
“The Secretary-General remains deeply concerned about the risk of further escalation in the region and reiterates his call for all parties concerned to cease all military actions and exercise utmost restraint,” he said.
“He also warns that airstrikes on Red Sea ports and Sana’a airport pose grave risks to humanitarian operations at a time when millions of people are in need of life-saving assistance.”
The UN chief condemned the Houthi rebels for “a year of escalatory actions... in the Red Sea and the region that threaten civilians, regional stability and freedom of maritime navigation.”
The Houthis are part of Iran’s “axis of resistance” alliance against Israel.
