Anthropic hit with class-action lawsuit over copyright infringement
Anthropic, the Amazon-backed artificial intelligence startup, on Monday, was hit with a class-action lawsuit in California federal court over alleged...Business
Apple makes changes to App Store after EU warning
From the autumn, Apple said developers in the EU "can communicate and promote offers for purchases" wherever they want, for...Business
$17.32bn projects launched on first day of Cityscape Riyadh
Riyadh, Saudi Arabia -- The Cityscape Global Exhibition, which kicked off Sunday in Riyadh, witnessed the launch of real estate...ROSHN Group will have four strategic partnerships of over SAR 9 billion in the fields of construction and infrastructure, Argaam reported.
National Housing Co. (NHC) also unveiled three luxury projects in Al Forsan and Khuzam suburbs, which provide 86,000 housing units with a value exceeding SAR 42 billion.
Saudi Arabia’s first social network Jaco attracts 1m users in 2 months
RIYADH, SAUDI ARABIA: The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the...The Saudi Arabian entrepreneur and supervisor of the project expressed confidence that Jaco will reach 5 million users by the end of the year.
At the official launch ceremony of the Jaco application in Riyadh, the supervisor expressed happiness at the success of the social network.
Care secures $93.3m Murabaha facility
The long-term facility was obtained from Gulf International Bank.Care said the facility comprises SAR 100m revolving loan to be renewed periodically, and a SAR 250m long-term loan for a period of 10 years with a grace period of one year.
The facility will be used to finance the company’s working capital requirements and support its strategy via expansion and acquisitions.
ADES prices IPO $3.33-$3.60 per share
The book-building process starts Sunday and run through Sept. 14.ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF, expects to raise more than $1 billion.
The offer will comprise 338.7 million ordinary shares-- 101.62 million shares by ADES, the PIF and Zamil Investment Company, and 237.10 million new shares through capital hike.
IMF head urges G20 leaders to deliver promised US$100bn for climate finance
New Delhi, India-- Appealing to G20 members to lead by example in delivering on the promise of US$100 billion per...Ahead of COP28, the IMF managing director said that target must be raised to reduce emissions to prevent grave risks to economic well-being
She urged countries to mobilize domestic resources to finance and manage the green transition through tax reforms, efficient public spending
QFCA, QSE sign agreement with Malaysian firm to advance bonds and sukuk
Doha, Qatar--The Qatar Financial Centre Authority (QFCA), Qatar Stock Exchange and Malaysian Rating Corporation Berhad (MARC) have entered into a...The agreement entails organizing events to foster knowledge, develop market infrastructure to support Qatar's bonds and Sukuk market
The partnership extends to exploring opportunities to establish best standards and practices in the domains of sustainability and debt capital markets
Global food prices drop in August: FAO
Led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations revealed that its...Its Cereal Price Index dropped by 0.7% from July and International wheat prices dipped by 3.8% in August
But in contrast, the FAO All Rice Price Index climbed up by 9.8% from July to reach a 15-year nominal high
UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties
NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to...The meeting was held on the sidelines of the 18th Group of 20 (G20) Heads of State and Government Summit in New Delhi.
The two sides also exchanged views on various regional and international developments of mutual interest.
Jordan-ASEAN Economic Forum to be held in March 2024, says ACC
AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with...ACC will host the forum, in cooperation with Malaysia, Indonesia, the Philippines, Thailand and Sultanate of Brunei.
Trade exchanges between Jordan and ASEAN grew by 42 percent during 2022, compared to 2021, ACC's statistical data said.
ADNOC looks to buy Covestro
The German firm will hold "open-ended" talks with ADNOC.ADNOC said in mid-August that it was willing to make a new improved proposal to Covestro of $12.4 billion if it would get talks moving
The talks between the two come as the vital German chemicals industry, which accounts for about five percent of the country's GDP, is gripped by crisis
