INSEAD Day 4 - 728x90

court

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.
  • OpenAI files counterclaims against Musk as feud deepens

    San Francisco, United States -- Artificial intelligence giant OpenAI has filed counterclaims against multi-billionaire Elon Musk, accusing its former co-founder of waging a "relentless campaign" to damage the organization after it achieved success without him. In legal documents filed Wednesday in northern California's federal court, OpenAI alleges Musk became hostile...
  • Turkey protesters defiant despite nearly 1,500 arrests

    The protests erupted on March 19 after the arrest of Istanbul opposition mayor Ekrem Imamoglu as part of a graft and "terror" probe, which his supporters denounced as a "coup". Vast crowds have hit the street daily, defying protest bans in Istanbul and other big cities and the arrests.
  • Elon Musk asks US court to block OpenAi’s for-profit conversion

    Washington, United States -- Elon Musk has again asked a US court to stop ChatGPT-maker OpenAI from converting into a for-profit enterprise, CNBC reported Saturday. Attorneys representing the billionaire and his AI startup, xAI, filed the injunction Friday, the financial news site reported. The injunction also requests that OpenAI be stopped...
  • Sweden Quran burner arrested in Norway, faces deportation

    OSLO, NORWAY – An Iraqi refugee in Sweden who stoked international outrage by repeatedly desecrating the Quran last year has been arrested in Norway and now faces deportation back to Sweden, according to court documents viewed by AFP on Thursday. Salwan Momika, a Christian Iraqi who burned Qurans at a slew...
  • Israel’s Netanyahu approves new Gaza ceasefire talks

    The go-ahead for a new round of talks on a Gaza ceasefire came a day after the world's top court ordered Israel to ensure aid reaches desperate civilians. But despite a binding UN Security Council resolution earlier this week demanding an "immediate ceasefire", fighting raged on unabated in Gaza.
  • ICJ orders Israel to ensure humanitarian aid in Gaza

    The International Court of Justice said in its order that Israel should "take all necessary and effective measures to ensure, without delay... the unhindered provision... of urgently needed basic services and humanitarian assistance" in Gaza. This included food, water, electricity, fuel, shelter, clothing, hygiene and sanitation requirements.
  • Dutch court upholds $50bn payment award in Yukos case

    THE HAGUE, NETHERLANDS -  A Dutch court quashed an appeal by Russia in a record $50-billion case on Tuesday, paving the way for a payment to former shareholders of dismantled oil giant Yukos. The decision is the latest in a legal tug-of-war over Yukos which broke up in the early 2000s...
  • India’s top court strikes down anonymous election funding scheme

    Prime Minister Narendra Modi's party has defended electoral bonds, arguing that because the electoral bond donations are channelled through the banking system, the process is more transparent than direct cash donations. Cash donations are still allowed, but carry no tax exemption.
  • Three killed in attack outside court in Turkey, says minister

    ISTANBUL, TURKEY - Turkish police on Tuesday shot dead two assailants from a leftist organization, branded "terrorists" by authorities, who attacked a security checkpoint outside Istanbul's main court, killing one person and injuring five, officials said. Interior Minister Ali Yerlikaya said the assailants were members of the Revolutionary People's Liberation Party-Front...
  • Thousands march in Spain against Gaza ‘genocide’

    Waving Palestinian flags and shouting slogans denouncing Israel, protestors expressed gratitude to South Africa for having brought the case against Israel to the International Court of Justice (ICJ). Spain has been one of the most critical voices in Europe of Israel's offensive against Hamas and was one of those to...
  • UN court says Israel must prevent genocidal acts in Gaza

    The top UN court said Israel should do everything it could to prevent any acts of genocide in the Gaza Strip, in a highly anticipated ruling. Israel must do everything to "prevent the commission of all acts within the scope" of the Genocide Convention, said the International Court of Justice.
  • Do Kwon’s Terraform Labs files for US bankruptcy

    Kwon, who co-founded Terraform in 2018, was arrested last year in Montenegro and is awaiting extradition to the United States or South Korea. The collapse of the Singapore-based firm's TerraUSD and Luna wiped out around $40bn in investments and caused wider losses in the global crypto market estimated at more...
  • Israel faces Gaza ‘genocide’ case at UN top court

    South Africa wants the ICJ to impose "provisional measures", or emergency actions, while the broader case is being considered -- which would probably take years. "The circumstances could not be more urgent," argues Pretoria, describing an "exceptionally brutal military campaign by Israel in Gaza, which is extensive and ongoing".
  • Revealed: Epstein’s 150 high-profile connections

    The unsealing of around 1,000 pages of documents stems from a defamation lawsuit between Ghislaine Maxwell and Virginia Giuffre, offering insights into Epstein's network.
  • Israeli apex court strikes down law that limited court oversight

    Opposition leader Yair Lapid welcomed the verdict and warned of the resurgence of internal divisions in Israeli society. "The Supreme Court faithfully fulfilled its role in protecting the citizens of Israel, and we give it our full backing," Lapid said on X, formerly Twitter.
  • Lebanon court orders ex-car boss Ghosn out of Beirut home

    Ghosn and his wife must "vacate the property... within a month", according to a copy of the decision seen by AFP and dated October 16. The home with pink walls in the Lebanese capital's upscale Ashrafieh neighbourhood is worth some $19 million and is registered to Lebanese company Phoinos Investment,...
  • Egypt court upholds jail sentence for prominent dissident

    Cairo, Egypt--An Egyptian court on Saturday denied an appeal by prominent dissident Hisham Kassem against his jail sentence, his lawyer said, after lawmakers rejected a European Parliament resolution urging his release. "The court has decided to uphold the judgement that was under appeal," Kassem's lawyer Nasser Amin said on Facebook. Kassem...
  • Trump business empire under threat as fraud trial opens

    Donald Trump intends to be present for the start of the trial on Monday morning as a civil fraud trial against the former president and two of his sons begins in New York, threatening the Republican frontrunner's business empire as he campaigns to retake the White House with four criminal...
  • 10 killed as minibus plunges into ravine in Iran

    TEHRAN, IRAN - A minibus carrying mountaineers in Iran plunged into a ravine, killing 10 people, state media reported on Saturday. The accident occurred on Friday near the city of Varzaghan, in East Azerbaijan province, said the provincial emergency services spokesman, Vahid Shadinia, according to state news agency IRNA. The minibus...
  • Iran appoints West-sanctioned official as supreme court chief

    TEHRAN, IRAN - Iran on Sunday appointed Mohammed Jafar Montazeri, who is under US and British sanctions, to head the Islamic republic's top court. Montazeri was named the supreme court chief after the "opinions of all the court judges" were taken into consideration, the judiciary's Mizan Online website said. The 75-year-old,...
  • In this file photo, Donald Trump speaks at Republican National Convention on July 21, 2016, in Cleveland, Ohio. (AFP)

    Sad day for America, says Trump after court appearance

    Former US president Donald Trump pleaded not guilty on Thursday to criminal charges that he conspired to overturn the results of the 2020 election and defraud the American people. Trump also said it was a 'sad day for America'.
  • Libya court sentences 37 traffickers to prison over migrant deaths

    A statement from the prosecution said that the appeals court pronounced the verdict against a "criminal gang" whose members organized for migrants to travel on a "dilapidated boat, resulting in the death of 11 of them. Libya is a key departure point for migrants, with many risking the perilous sea...
  • Libya court imposes prison terms on three for human trafficking

    One of the three, whose identities and nationalities were not given, was sentenced to life in prison and the other two to 20 years each. Considered to be the first convictions in Libya in human trafficking cases, the court found the three guilty of "trafficking in human beings" and having...
  • Algeria court increases prison term for media leader

    An Algerian court of appeal increased to seven years the prison term issued to a prominent media boss, but suspended two years, a watchdog and his lawyer said. Ihsane El Kadi, 63, whose release had been sought by the European Union and international media, is one of the last independent...
  • Kuwait elects new parliament dominated by opposition

    Lawmakers from opposition won 29 of the 50 seats up for grabs in the election, according to results announced by the official Kuwait News Agency. The vote on Tuesday came after Kuwait's constitutional court in March annulled the results of last year's election -- in which the opposition made significant...
  • UAE court orders Briton to pay Denmark $1.2 bn for tax fraud

    Sanjay Shah was arrested in the United Arab Emirates' financial hub in June upon request by Danish authorities who accuse him of helping companies fraudulently claim tax refunds. Shah was accused of running the scheme for three years starting in 2012, in which foreign firms pretended to own shares in...
  • SCCA’s revised arbitration rules come into effect in Saudi Arabia

    Riyadh, Saudi Arabia-- The Saudi Center for Commercial Arbitration (SCCA) has published the 2023 revised SCCA arbitration rules with effect from May 1. The final text was endorsed after extensive review by the SCCA’s board of directors. The SCCA, in a statement, said the new rules will apply to all...
  • Air France, Airbus acquitted over 2009 Rio-Paris crash

    PARIS, FRANCE -  Air France and plane manufacturer Airbus were acquitted Monday over the 2009 crash of a Rio-Paris flight after a French court ruled their errors could not be proven as the disaster's cause. While the ruling was expected after prosecutors recommended to the Paris court not to seek a...
  • KPMG ordered to pay $231 million for Abraaj fund audit failure

    Dubai, UAE -- KPMG Lower Gulf has been ordered by a Dubai court to pay more than $231 million to a group of investors who claim they lost money because of poor-quality audit work by the firm on a fund they were invested in. The judgment, issued late last month,...
  • UAE rejects extradition of Gupta brothers, says South Africa

    South Africa's Justice Minister Ronald Lamola said the government was notified on Thursday evening of a Dubai court decision not to allow for the extradition of business tycoons Atul and Rajesh Gupta. The Guptas are alleged to have colluded with former president Jacob Zuma to siphon off state assets from...
  • Kuwait nullifies 2022 elections, reinstates previous parliament

    The ruling was made due to discrepancies in the decree dissolving the previous parliament, the official KUNA news agency said. The September polls were the most inclusive in a decade and saw opposition members take a parliamentary majority with 28 out of 50 seats.
  • Crypto markets under pressure as factors that led to FTX Corp’s collapse feared to create new failures

    Market players may mitigate risks by adopting the best industry practices, securing their reserves and abiding by regulations, an expert tells TRENDS in an interview.
  • Iran court sentences German-Iranian man to death

    TEHRAN, IRAN - A Tehran court Tuesday sentenced to death an Iranian-German dual national accused of being the leader of a "terrorist" group behind a deadly 2008 mosque bombing, the judiciary said. "The Tehran Revolutionary Court sentenced Jamshid Sharmahd, the leader of the Tondar terrorist group, to death on the...
  • Saudi Binladin Group fined $5.33m in Makkah crane crash

    Dubai, UAE---A court in Makkah has fined Saudi Binladin Group SR20 million ($5.33 million) after the Group was convicted of negligence and violation of safety rules in the crane crash in the Grand Mosque of Makkah, media reports said. A total of 111 people were killed and 394 others injured...
  • Meta completes virtual reality deal after US court win

    A spokesperson for the Federal Trade Commission told AFP on Thursday that it would not appeal the February 1 decision. The social media giant said when the suit was filed that the FTC's move defied reality, and expressed confidence that its buy of Within would be good for VR users...
  • Bahrain loses state immunity bid in spyware lawsuit in UK filed by dissidents

    According to Saeed Shehabi and Moosa Mohammed, Bahrain infected their computers with FinSpy spying software, allowing agents access their data.
  • Israeli ‘reforms’ may hit economy, fear businesses

    Israeli premier Benjamin Netanyahu says the 'reform', which will give Israel's parliament the power to override court decisions with a bare majority, won't impact the economy.
  • Qatar Airways and Airbus settle long A350 dispute

    After a months-long dispute between Qatar Airways and Airbus, the two announced on Wednesday the end of a $2.5 billion dollar battle over peeling paint on passengers jets before it became an embarrassing court case. Both sides said they were "please to have reached an amicable and mutually agreeable settlement"...
  • Twitter sued over ‘unpaid rent’ on London office

    Twitter's British landlord said it is taking the social media to court for not paying rent on its London offices. The Crown Estate, a firm that manages land and property belonging to the British monarchy, said it has launched legal action at the High Court for rental arrears on an...
  • Tesla CEO Elon Musk takes stand in California fraud trial

    San Francisco, United States--Tesla CEO Elon Musk took the stand in a California fraud trial on Friday, accused of lying in tweets about taking the auto company private, punishing investors. Musk was called to testify by lawyers for angry investors who accuse him of costing them millions of dollars in 2018...
  • Morocco raises migrants’ jail time over Melilla tragedy: lawyer

    More than six months after 23 people died in an attempt to cross into the Spanish enclave of Melilla from Morocco, an appeals court in the country has increased the sentence of 13 migrants to three years over the deadly crossing. Nearly 2,000 people stormed the frontier in June in...
  • Iran protester on death row granted retrial, says judiciary

    TEHRAN, IRAN  - Iran's top court has ordered the retrial of a third man reportedly sentenced to death over nationwide protests, the judiciary said Saturday. The Islamic republic has been rocked by protests since the September 16 death in custody of Mahsa Amini, a 22-year-old Iranian Kurd, after her arrest in...
  • Facebook agrees to pay $725m to settle privacy suit

    Facebook parent Meta has agreed to pay $725 million to settle a long-running lawsuit that accused the social network of allowing third parties, including Cambridge Analytica, to access users' private data. The amount was disclosed in a court filing late on Thursday. Facebook has not admitted any wrongdoing as part...
  • BHP to face trial in UK

    The firm must stand trial to face US$12 billion damages claim
  • Libya court sentences 17 ‘IS members’ to death

    Tripoli, Libya-- A Libyan court on Monday sentenced 17 people to death after finding them guilty of joining the Islamic State group and carrying out atrocities in its name, the prosecution said. The Tripoli court also sentenced two people to life in prison and 14 others to lesser jail sentences,...
  • Dubai brings in new rules to govern its Digital Economy Court

    Dubai, UAE--The Dubai International Financial Centre (DIFC) Court has launched a new set of industry-first specialised rules for its recently formed Digital Economy Court (DEC) Division. A leading international judicial expertise Justice Michael Black of England & Wales has been recruited to oversee and operate the new court’s cutting-edge digital...
  • After FTX collapse, BlockFi files for bankruptcy in US

    A few weeks after the unravelling of FTX, BlockFi, a lender in the cryptocurrency world, has filed for bankruptcy protection in a US Bankruptcy Court in New Jersey. Founded in 2017, the company had been in trouble early in 2022 amid a steep pullback in cryptocurrency values.
  • Credit Suisse to pay $234m fine

    Bank to pay fine on money laundering, tax fraud charges.
  • Elon Musk says “excited” about taking over Twitter

    Having spent months trying to break free of the $44 billion buyout contract, Elon Musk now says he is "excited" about taking over Twitter. The social media giant had filed a lawsuit to hold Musk to the terms of the deal he inked in April after the Tesla chief said...
  • Morocco triples migrants’ jail terms over border storming

    The 18 migrants -- among more than 60 arrested following the Melilla tragedy -- had initially been sentenced to 11 months in prison.