Saudi Crown Prince MBS arrives in Jordan on regional visit | Mohammed bin Salman News

Enterprise leaders and officers hope the go to will unblock no less than $3bn in funding tasks by Saudi Arabia.

Saudi Crown Prince Mohammed bin Salman (MBS) has arrived in Jordan amid a thaw in relations following years of frayed relations with Amman.

The arrival of MBS on Tuesday marks the primary such go to in additional than 5 years by the de facto ruler of Saudi Arabia and comes at a time when Jordan’s economic system is scuffling with the financial knock-on results of the Ukraine battle and the COVID-19 pandemic.

“This is a chance for a brand new part in Jordanian-Saudi ties and to proceed a programme of financial tasks and new investments,” a senior Jordanian official advised the Reuters information company.

Enterprise leaders and officers hope the go to will unblock no less than $3bn of funding tasks that Saudi Arabia dedicated to lately, however that by no means materialised.

MBS arrived in Cairo on the primary leg of his regional tour on Monday, a go to that comes forward of United States President Joe Biden’s journey to the area subsequent month.

Egyptian President Abdel Fattah el-Sisi obtained MBS on the airport, a courtesy to the de facto Saudi chief, who’s a gradual monetary backer of the Egyptian authorities.

The go to to Jordan is the second cease on MBS’s regional tour, with Turkey additionally a part of his tour.

Over the previous few a long time, Jordan and Saudi Arabia had shut ties with the 2 monarchies cooperating on safety points and the Israeli occupation of Palestinian territory. Nonetheless, their relationship has grown strained.

For Saudi Arabia, Jordan was by no means absolutely dedicated to its political causes, particularly the battle on Yemen. Saudi-Jordanian ties then reached a low throughout former US President Donald Trump’s time period in workplace when Amman, a staunch US ally, felt that Riyadh’s shut relations with Trump’s administration undermined Jordan’s pivotal function in Arab-Israel peacemaking.

MBS’s assist for Trump’s “Deal of the Century” additionally sidelined Amman, which had historically performed a mediator function between Israel, the Palestinians, and the remainder of the Arab world.

Tensions have additionally simmered between the 2 sides over the Hashemite custodianship of holy websites in Jerusalem.

Jordanians are hoping the go to by MBS will put an finish to the strained relations and assist to enhance the troublesome financial state of affairs within the aid-reliant nation.

Saudi Arabia and Jordan additionally share deep considerations about Iran’s nuclear ambitions and what they see as Tehran’s destabilising function within the area, a Jordanian official mentioned.

French court blocks Grenoble’s bid to allow full-body swimsuit | Islamophobia News

Prime administrative court docket upholds a authorities problem in opposition to a transfer that revived France’s intense debate on Islam.

A high French court docket has blocked a bid to permit full-body swimsuits for girls at municipal swimming pools within the metropolis of Grenoble, upholding a authorities problem in opposition to a transfer that revived France’s intense debate on Islam.

The Council of State, France’s high administrative court docket, mentioned on Tuesday that “very selective exception to the foundations to fulfill non secular calls for… dangers affecting the correct functioning of public providers and equal remedy of their customers”.

The all-in-one swimsuit, utilized by some Muslim girls to cowl their our bodies and hair whereas bathing, is a controversial difficulty in France.

Led by Mayor Eric Piolle, a member of the Inexperienced Social gathering, town of Grenoble in Might modified its swimming pool guidelines to permit all kinds of bathing fits, not simply conventional swimming costumes for girls and trunks for males, which have been mandated earlier than.

“All we would like is for ladies and men to have the ability to gown how they need,” Piolle mentioned on the time.

Tuesday’s court docket resolution was “a victory for the regulation in opposition to separatism, for secularism and past that, for the entire republic”, Inside Minister Gerald Darmanin wrote on Twitter, referring to a regulation launched final 12 months to counter “Islamist radicalism”.

Makes an attempt by a number of native mayors within the south of France to ban the kind of swimsuit often known as burkini on Mediterranean seashores in the summertime of 2016 kicked off the primary firestorm across the bathing swimsuit.

The restrictions have been finally overturned for being discriminatory.

Burkinis are banned in French state-run swimming pools for hygiene causes – not on non secular grounds – whereas swimmers aren’t below any authorized obligation to cover their faith whereas bathing.

Grenoble isn’t the primary French metropolis to alter its guidelines.

The northwestern metropolis of Rennes quietly up to date its pool code in 2019 to permit “burkinis” and different kinds of swimwear.

Bitcoin holds above $20,000 after week of forced crypto selling | Crypto

Bitcoin rises as a lot as 1.6 % in Asia in a tentative signal of restoration from final week’s rout.

Cryptocurrencies confirmed tentative indicators of recovering from final week’s rout as Bitcoin held above $20,000.

Bitcoin rose as a lot as 1.6% on Tuesday in Asia and was buying and selling at $20,665 as of 8:42 a.m. in Tokyo. The MVIS Cryptocompare Digital Belongings 100 index climbed 1.5%. So-called altcoins like Solana and Polkadot had been amongst gainers.

After a turbulent week that noticed Bitcoin plunge under the $20,000 degree for the primary time since 2020, some market watchers are pointing to potential indicators that costs have bottomed — not less than for now. Realized losses on Bitcoin holdings reached a document $7.3 billion final week, Glassnode stated in a report Monday.

“With compelled sellers showing to drive a lot of the latest sell-side, the market would possibly start to eye whether or not indicators of vendor exhaustion are rising over the approaching weeks and months,” the report stated.

Marcus Sotiriou, an analyst at GlobalBlock, pointed to the Glassnode knowledge to say that “a macro backside, or short-term backside, might be shut,” in accordance with a word on Monday. Altcoins haven’t suffered the identical “cascade in liquidations” as Bitcoin and Ether, that are the tokens primarily used as collateral for leveraged positions, he stated.

Any market restoration might show fleeting, with central banks around the globe bent on draining liquidity to fight runaway inflation.

The T3 Bitcoin Volatility Index, a measure of the token’s anticipated 30-day volatility, has jumped again towards the highs of mid-Could, when the collapse of the TerraUSD stablecoin rocked markets.

“A poisonous mixture of unhealthy information cycles and better rates of interest has damage the crypto market and we are able to anticipate extra volatility within the upcoming weeks,” stated Feroze Medora, director of APAC buying and selling at Cameron and Tyler Winklevoss’s Gemini crypto platform, in a word on Monday.

Bitcoin has now seen two “distinct capitulation phases” because it peaked at near $69,000 in November, Glassnode stated. The primary was triggered by the collapse of the TerraUSD stablecoin in early Could, and the previous week’s one was pushed by “a large industry-wide deleveraging, each on and off-chain.”

Present buying and selling patterns in Bitcoin and Ether point out some giant crypto holders are “chasing liquidations to revenue from forcing different gamers out,” stated Chiente Hsu, chief govt officer of decentralized finance platform ALEX.

Including to the uncertainty is the extreme stress on DeFi functions. Their recognition as a supply of excessive yields soared when pandemic-era stimulus drove a record-breaking crypto growth.

Now they’re being compelled to take unprecedented measures to guard themselves in opposition to a sequence response of liquidations. Embattled crypto lending platform Celsius Community Ltd. stated Monday it wants extra time to stabilize its liquidity and operations after freezing deposits earlier in June.