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5921 - 5930 from 16547 . In "BUSINESS"
Börje Ekholm
Ericsson to work hard every day to recover from loss
DUBAI — As previously disclosed, Ericsson (NASDAQ: ERIC) has been cooperating voluntarily since 2013 with an investigation by the United States Securities and Exchange Commission (SEC) and, since 2015, with an investigation by the United States Department of Justice (DOJ) into Ericsson’s compliance with the US Foreign Corrupt Practices Act (FCPA) and the process is still ongoing. The investigation covers a period ending Q1 2017 and revealed breaches of the company’s Code of Business Ethics and the FCPA in six countries: China, Djibouti, Indonesia, Kuwait, Saudi Arabia and Vietnam.The company previously communicated that the resolution of the investigations will result in material financial and other measures. While Ericsson cannot comment in detail on the ongoing process with the US...
September 28, 2019

Ericsson to work hard every day to recover from loss

Infographic - Top MENA Solar Power Projects
Middle East’s solar projects worth $15bn operational in 5 years
DUBAI – A massive $15 billion worth of solar projects are expected to be operational in the next five years in the Middle East and North Africa (MENA).The Middle East Solar Industry Association (MESIA) made the projection ahead of the Solar Asset Management MENA conference, the biggest gathering of solar industry stakeholders which will take place on Nov. 17-18 at the Renaissance Downtown Hotel in Dubai, United Arab Emirates.Currently, the solar power market in MENA is estimated to be worth more than $20 billion, according to MESIA. But further growth is expected as the region sees shrinking cost of solar coupled with a surge in clean energy demand. The MENA region is expected to require 267 GW of additional power generation capacity by the year 2030, representing a jump of 66%, which...
September 28, 2019

Middle East’s solar projects worth $15bn operational in 5 years

Majid Saad Alarifi
Elm to showcase latest Innovative Digital Systems at GITEX 2019
DUBAI — Elm, the leading digital solution provider, will showcase its latest digital systems that reflect its adoption of the Data Revolution concept during its participation at GITEX Technology Week 2019, which will be held on Oct. 6-10 at Dubai World Trade Center.During its participation for the 10th consecutive year in GITEX Technology Week, Elm will present its new integrated systems, including Elm Analytics Platform; Elm Health Information System; IoT Telemedicine Platform; “Seraj” Smart Consulting Integrated System for Intelligent PMO and the Integrated Transport System.Elm's participation in the 39th edition of the region's premier ICT event is characterized by “Passion for Innovation” which comes in line with Elm’s vision in business.Elm has achieved a lot of...
September 28, 2019

Elm to showcase latest Innovative Digital Systems at GITEX 2019

From (L) Wolfgang Kutschera, Muhammad Wakil Shahzad, Kurt Altmann and Mansour Ismael.
Winner named in National Energy Globe Award Saudi Arabia
By Samar YahyaRIYADH — National Energy Globe Award Saudi Arabia for the project "Innovative Hybrid Desalination Cycle for Future Sustainability" was awarded to Dr. Muhammad Wakil Shahzad, who was working as research scientist at King Abdullah University of Science and Technology (KAUST).Recently, he joined Northumbria University, Newcastle UK. The awarded technology is considered as a game changer to achieve sustainable water supplies.Speaking to Saudi Gazette, Shahzad said: “This innovative research was done at KAUST. This original idea was started as my PhD project at national university of Singapore in 2011 and the first pilot was installed in 2013. The second and more advance pilot was installed at KAUST when I joined in 2014. The pilot experimentation showed excellent...
September 28, 2019

Winner named in National Energy Globe Award Saudi Arabia

A new Airbus A 350 of Air France is pictured during its first flight at the Airbus delivery center, in Colomiers, southwestern France, on Friday. — AFP
Airbus says taking 'appropriate measures' against hackers
TOULOUSE, France — Airbus played down the risk of cyberattacks on Friday and said it had "appropriate measures" to mitigate any danger after an AFP investigation revealed a series of hacking incidents targeting the European aerospace giant."We are protecting ourselves against cyberattacks," chief commercial officer Christian Scherer said at an event marking the first delivery of Airbus's latest plane, the A350, to Air France."You can imagine that a company like ours has the technology to identify, repel and protect ourselves against any such attacks," he added.More than half a dozen sources spoke to AFP about a series of attacks on Airbus suppliers — including British engine-maker Rolls-Royce, French technology consultancy Expleo, and two other French...
September 27, 2019

Airbus says taking 'appropriate measures' against hackers

In this file photo taken on Nov. 9, 2015, an activist of environmental organization Greenpeace holds a giant letter to display
Volkswagen faces first mass diesel lawsuit on home turf
FRANKFURT AM MAIN, — Car behemoth Volkswagen will face a German court Monday, as hundreds of thousands of owners of manipulated diesel cars demand compensation four years after the country's largest post-war industrial scandal erupted.The first hearing in what is likely to be a grinding, years-long trial opens at 10 am (0800 GMT) in Brunswick, around 30 kilometers (19 miles) from VW headquarters in the northern city of Wolfsburg.Around 450,000 people have joined a first-of-its-kind grouped proceeding, introduced by lawmakers after the "dieselgate" emissions cheating scandal broke in 2015.Consumer rights group VZBV, representing the plaintiffs, says the German carmaker deliberately harmed buyers by installing motor control software that allowed vehicles to pollute far more...
September 27, 2019

Volkswagen faces first mass diesel lawsuit on home turf

Uber Incubator — Head of Strategy Karishma Shah addresses the audience during an Uber products launch event in San Francisco, California, on Thursday. Uber unveiled a new version of its smartphone app that weaves together services from shared rides to public transit schedules while adding more security features. — AFP
Revamped Uber app adds transit options, passenger safety features
SAN FRANCISCO — Uber on Thursday unveiled a revamped version of its smartphone app that weaves together services from shared rides to public transit schedules while adding more security features.The new app is intended to let Uber users see, and ideally tap into the company's array of options for getting around or having meals delivered."We want Uber to be the operating system for your everyday life: however you want to move around your city, and whatever you need, we want Uber to be your go-to app," said Uber chief executive Dara Khosrowshahi."Uber started with on-demand rides, but we've grown to offer access to everything from food delivery to electric bikes and scooters."Rides, Eats food delivery and other options are displayed side-by-side in the new...
September 27, 2019

Revamped Uber app adds transit options, passenger safety features

In this file photo taken on Feb. 8, 2019 an Airbus A350-1000 conducts a test flight over Chateauroux airport, central France. European aerospace giant Airbus has been hit by a series of attacks by hackers who targeted its suppliers in their search for commercial secrets, security sources told AFP, adding they suspected a China link. — AFP
China rejects 'smear' after Airbus hacking report
BEIJING — Beijing on Friday rejected an AFP report that Chinese hackers were suspected of being behind a series of cyber attacks on European aerospace giant Airbus.The hackers targeted Airbus suppliers — British engine-maker Rolls-Royce, French technology consultancy and supplier Expleo, and two other French contractors — in search of commercial secrets, according to security and industry sources who spoke to AFP on condition of anonymity.None of the sources who spoke to AFP could formally identify the perpetrators of the attacks, pointing to the extreme difficulty in obtaining evidence and identification.Many state-backed and independent hackers are known to disguise their tracks, or they may leave clues intended to confuse investigators or lead them to blame someone else.But the...
September 27, 2019

China rejects 'smear' after Airbus hacking report

Samba
Samba announces pricing of debut $1b 5-year international bond
RIYADH — Samba Financial Group (Samba) priced a highly successful $1b bond due in 2024 (5-year) at a fixed coupon rate of 2.75% per annum.This issuance is Samba’s first transaction since 2006 and was received with immense investor demand as evidenced by an orderbook that reached over $3.7 billion, representing an oversubscription rate of 3.7 times.The $1 billion bond is the first drawdown under Samba’s recently established $5 billion Euro Medium Term Note Program that is listed on Euronext Dublin.Samba’s bond is an important step in the evolution of the regional capital markets as it is now the only Saudi bank to have a bond outstanding in the international markets — this is expected to pave the way for other Saudi bank issuers to access the market.Moreover, the coupon of 2.75%...
September 26, 2019

Samba announces pricing of debut $1b 5-year international bond

Fonterra
New Zealand's Fonterra slumps to record loss
WELLINGTON — New Zealand dairy giant Fonterra unveiled the largest loss in its history Thursday as writedowns hit the bottom line during an "incredibly tough year".Fonterra — the world's largest dairy exporter — announced a net loss of NZ$605 million ($380 million) for the 12 months to July 31, eclipsing the NZ$196 million reversal posted a year previously.The plunge into the red was due to a previously flagged NZ$826 million in writedowns on underperforming assets which chief executive Miles Hurrell said would provide long-term benefits."Many of these calls were painful, but they were needed to reset our business and achieve success in the future," he said.Hurrell said Fonterra, a collective that buys milk and dairy products from New Zealand farmers then...
September 26, 2019

New Zealand's Fonterra slumps to record loss

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