RIYADH: Saudi Arabia’s World Defense Show has allocated 70 percent of its exhibition space, ahead of its launch in March next year, event organizers said on Wednesday. The show has attracted interest from global manufacturers and multinationals such as Lockheed Martin, Embraer, General Dynamics and Rolls-Royce, as well as local entities such as the Saudi Arabian Military Industries and Military Industries Corp. Shaun Ormrod, CEO of World Defense Show, said: “The overwhelming interest from local and global defense (firms) reflects World Defense Show’s unique proposition creating an unmatched meeting environment for industry leaders in the heart of Saudi Arabia, one of the world’s leading defense industry markets, to discuss the future of interoperable defense.
Iran and Central African Republic lose voting rights in UN General Assembly
The minimum payments needed to restore voting rights are $16,251,298 for Iran and $29,395 for the CAR
Updated 19 min 16 sec ago
AP
June 02, 2021 19:25
UNITED NATIONS: Iran and the Central African Republic are in arrears on paying their dues to the United Nations’ operating budget and will lose their voting rights in the 193-member General Assembly, the UN chief said in a letter circulated Wednesday.
In the letter to General Assembly President Volkan Bozkir, Secretary-General Antonio Guterres said three other African countries - Comoros, Sao Tome and Principe, and Somalia are also in arrears. But he said the assembly passed a resolution saying they can still vote in the current session which ends in September.
6/2/2021 3:52:36 PM GMT
Oil near 2.5-year high, markets optimistic about reflation
USOIL trading near $68.4
Bullish narrative supported by technical and fundamental indicators
Oil price, measured by USOIL, has reached a 2.5-year high of $68.4. After a disastrous 2020, oil investors have turned optimistic about reflation as major economies re-opened for the summer. Strong economic data and expectations for a rebound in demand seem to outweigh the risks posed by an increase in supply from Iran and the spread of new COVID-19 variants, particularly that in India. Technical indicators support a bullish trend with major resistance levels near $70 and $75.
Technicals signal weak bullish momentum