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French court lowers Bloomberg fine over hoax Vinci statement

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A French appeal court on Thursday upheld a ruling by France’s markets watchdog AMF against US news agency Bloomberg for publishing a hoax press release, French media reported, but lowered its fine to three million euros.

Bloomberg News was originally fined five million euros ($5.9 million) in December 2019 for publishing a hoax press release in November 2016 relating to construction group Vinci, which had filed a legal complaint to the AMF.

The AMF said at the time that Bloomberg should have known the information in the hoax press release was false.

“Our journalists, among others, simply reported on what appeared to be newsworthy information and were the victims of a sophisticated hoax, the perpetrator of which has not yet been found,” a Bloomberg spokesperson said after Thursday’s ruling.

“We hoped that the court would recognize the issues of press freedom at stake. We are disappointed the court has not overturned the original decision and will consider our options on appeal,” they added.

Vinci shares fell as much as 18 percent on Nov. 22, 2016 after the hoax statement, which said that the French group would revise its 2015 and 2016 accounts and fire its chief financial officer.

The AMF had said it had taken action against Bloomberg because it had published the statement without verifying it.

Vinci’s share price recovered after the company denied the Bloomberg report and said that the statement was a hoax.

The appeal court’s ruling was not immediately available on its website or on the AMF’s own site.

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Falcons auction in the Gulf continues to set records

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The prices of falcons in Saudi Arabia continue to set records, as three falcons were sold for 261,000 Saudi riyals (69,585) on Sunday evening, as part of the activities of the thirteenth night of the Saudi Falcons Club auction.

The Saudi Press Agency “SPA” reported the details, where the first falcon, a Shaheen chick, was sold for 60,000 riyals, while the second falcon was sold for 87 thousand riyals, and the third falcon was sold for 114,000 Saudi riyals.

It is noteworthy that the most expensive falcon in the Kingdom was bought by Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs in the UAE, for a sum of one million and 750 thousand Saudi riyals (about 466,000 US dollars).

He explained that its price amounted to one million and 750,000 Saudi riyals (about 466,000 US dollars), noting that “this falcon distinguished itself in its kind farm where it grew up.

The Kingdom in particular and the Gulf states in general attach great importance to raising falcons. Saudi Arabia organizes several exhibitions for it, and the falcon market generates millions of dollars annually.

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The global “economic paralysis” catastrophe is monitored from space by NASA

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The US space agency “NASA” has captured unique images, which, according to experts, are considered a dangerous indicator of the current global economic paralysis in international supply chains.

The ASTER instrument, which is dedicated to measuring radiation of reflection and thermal emissions installed on a NASA satellite in space, captured a unique picture indicating the disruption of global supply chains, a frightening international economic indicator, according to experts.
The image taken shows more than 70 ships waiting to dock and unloading cargo in the ports of Los Angeles and Long Beach, which caused the supply chain crisis to not be able to unload the cargo.

According to the scientific magazine “scitechdaily”, the increasing demand for goods in general and consumer goods in particular, in conjunction with the lack of employment, bad weather and the disruption of the supply chain group due to the Corona virus crisis, is contributing to the accumulation of cargo ships in ports around the world.

In its report, the magazine noted that the problem of the accumulation of ships around the ports is not limited to the ports of Los Angeles, but rather spreads in many American ports, such as the ports of New York, New Jersey, Georgia and Texas.

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About 900,000 dollars, the price of the end of a romantic relationship in the Emirates between a young man and a girl older than him

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The UAE courts witnessed mutual accusations between a young man and a girl whose romantic relationship ended, demanding that he return a sum of money amounting to 3,319,000 dirhams (896,130 dollars).
In the details of the case, the girl claimed that the young man received from her a sum of 3 million and 319 thousand dirhams, which he had promised her to marry.

A young man took the legal oath before the Abu Dhabi Court of First Instance, denying the fact that he had received the amount, and told the court: “The girl was the one who was chasing him for marriage, because she was older than him and did not get married,” according to the local newspaper, Al Bayan.

The girl demanded the court to compel the defendant to take an oath, to prove her right, since she did not take any official documents from him, proving her right to the money she gave him, as a debt, thinking that the relationship between them will end in marriage.

The girl added that she got to know the young man through the conversation program, and he illusioned her that he has an important position, and works in several projects and auctions of used vehicles, and he asked her to lend him an amount, with the aim of investing him in the field of real estate, and she gave him her bank card, and transferred sums of money through Exchange companies, the total amounted to 3 million and 310 thousand dirhams.

Looking into the case, the defendant admitted that he knew the complainant, and was communicating with her with the intention of marriage, and that he told her that he did not want to continue with her, because he was married to another, and that she was older than him, pointing out that the complainant was the one who owed him a sum of money, then returned it to him through the exchange And he denies receiving any money.

He pointed out that the complainant was the one who handed him her bank card, on the grounds that she was traveling, so that he could return the amount from her, denying the validity of receiving the amount of one million and one hundred and eighty thousand dirhams from the complainant’s account.

For its part, the court clarified in the merits of its ruling that the complainant based her claim on the fact that she withdrew cash from her personal account and handed it over to the defendant as a loan, and that she transferred amounts through exchange companies, and the defendant took the money using her credit card.

The court indicated that it is not sufficient merely to transfer funds from the complainant in favor of the defendant, to say that there is a loan or debt between the two parties to the dispute, because the transfer fact in itself is nothing more than a mere transfer of funds, but it does not benefit from the fact that it is the transaction under which the funds were transferred. Accordingly, the court ruled to dismiss the case, while obligating the complainant to pay fees and expenses.

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