World

NY Attorney General seeks pre-trial fraud declaration against Trump

New York’s attorney general on Wednesday asked a state judge to declare, even before the start of a trial, that Donald Trump committed fraud by submitting false statements to bankers and insurers and overstating his net worth by up to $2.23 billion.

In filings with a state court in Manhattan, Attorney General Letitia James said evidence in her civil case showed “repeated and persistent fraudulent use” by Trump and his family business of false and misleading financial statements from 2011 to 2021.

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James said inflating values of more than a dozen assets by hundreds of millions of dollars established the defendants’ liability for fraud under the state’s Executive Law.

“The cumulative effect of these numerous deceptive schemes to inflate Mr. Trump’s assets, and hence his net worth, is staggering,” and is “just the tip of a much larger iceberg of deception (the state) is prepared to expose at trial,” James said.

Less than an hour after James’ filing, lawyers for Trump and the other defendants filed their own papers seeking to end what they called James’ “crusade against President Trump” and dismiss the entire case.

Citing a recent appellate court decision, they said that many of the transactions James challenged took place too long ago to be reviewed in court, and said the attorney general offered no proof that anyone was harmed by the remainder.

“What she seeks to do here become the post hoc arbiter of the marketplace by interjecting her own judgment into strictly private, profitable transactions,” the defendants’ lawyers said. “The record evidence now undermines fully her purported claims.”

$250 MILLION SOUGHT

James filed her lawsuit last September, accusing Trump of lying about property values, including for his Mar-a-Lago estate in Florida and Trump Tower penthouse apartment in Manhattan, and his own net worth.

She said Trump did this to fraudulently obtain better terms on loans and insurance, and that his fraud hurt honest participants in banking, insurance and real estate markets.

The attorney general is seeking at least $250 million from Trump, his adult sons Donald Jr. and Eric, the Trump Organization and others, and to stop the Trumps from running businesses in New York.

A trial before state Supreme Court Justice Arthur Engoron is scheduled for Oct. 2.

The case is separate from four criminal indictments that Trump, 77, faces as he seeks a second White House term, including two for attempting to reverse his 2020 election loss.

Trump, the Republican front-runner for the 2024 Republican presidential nomination, has denied wrongdoing in all of the cases, calling them part of a Democratic witch hunt against him. James is a Democrat.

In her filing, James said correcting Trump’s suspect valuations would have reduced his net worth by 17 percent to 39 percent each year between 2011 and 2021.

The filing said Trump’s reported net worth peaked at $6.1 billion in both 2018 and 2019, when he was US president, but would have been no more than $4.2 billion had he arranged for “full blown professional appraisals” of his properties.

James said Trump should have valued his penthouse triplex in 2016 at $119.9 million instead of $327 million, and valued Mar-a-Lago in 2018 at $25.4 million, based on its restricted use as a social club, instead of $739.5 million.

The New York civil case is New York v Trump et al, New York State Supreme Court, New York County, No. 452564/2022.

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World

Almarai signs an MoU with the Authority of People with Disabilities to train and employ them.

Almarai Company signed a memorandum of understanding with the Authority of People with
Disabilities to train, qualify and employ persons with disabilities. This came on the sidelines of
the First International Labor Market Conference, organized by the Ministry of Human Resources
and Social Development on December 13 – 14, 2023, at the King Abdulaziz Convention Center
in Riyadh.

The memorandum was signed by the Chief Human Resources Officer of Almarai Company,
Fahad Mohammed Aldrees, and the CEO of the Authority of People with Disabilities, Dr.
Hisham bin Muhammad Al-Haidari.

“This agreement comes within the framework of the company’s social responsibility program, as
Almarai employs more than 500 people with disabilities, which is one of the most suitable work
environments for them.” Fahad Aldrees said. Pointing out that Almarai has the “Silent Line”,
which is one of its production lines that is designated for people with hearing disabilities.

It is worth mentioning that Almarai supports over 300 charity organizations annually across the
kingdom that operate in the field of community development.

World

Central Phuket Shopping Center Prepared Surprises This Christmas & New Year 2024

Central Phuket Shopping Center, the luxury lifestyle landmark o Phuket, invites everyone to celebrate Christmas and New Year 2024 in The Great Celebration 2024 Campaign. Joining hands with global partner ‘The Pokémon Company’, Central Phuket bring over Pokémon, the super cute character popular around the world, for all locals and international fans. The special campaign launch presents a procession of cute ‘Pikachu’ alongside with the giant Christmas tree for the first time in Thailand.
This December, Central Phuket prepared many activities for shoppers when visiting Phuket! Experience the “Surprise of the Day” with free Cotton Candy for our little ones, a sweet and fluffy treat, a special gift from Central Phuket. Bring your kids to enjoy this sweet treat every Saturday and Sunday throughout the month of December. Don’t miss the Christmas Carol that
everyone loves, little Santas spread freshness by singing together in the Christmas Carol activity. Plus, Christmas Live Music, the festival of joy is back! Celebrate Christmas in a luxurious and classy atmosphere, enjoying the music that will bring us joy. Also, there will be Christmas Troop, Santa Claus is coming to town! The Santa troop will spread happiness throughout Central Phuket. Lastly, Cake Workshop, workshop activity with Chef Sebastien’s IRON CHEF Thailand teaching how to make Christmas Vanilla Cake. A special activity for the Christmas season. Moreover, Central Phuket provides special promotion exclusively for international tourists throughout December 23 – January 24 including:

1) Get Free! Tourist welcome discount package valued up to THB 10,000.
2) Receive THB 100 Gift voucher when spending up to THB 2,500 per receipt.
3) Get to buy ‘Happy Holiday Collections’ special price: Pokémon 2-in-1 pillow blanket, tumbler, travel bag set, and keychain. Visit redemption counter for the price.
4) Exclusive for Grab Users get discount code up to 25% off* when traveling to participating Central Shopping Centers.
5) Receive famous Elephant Pants when spending over THB 5,000 in shopping center.
6) Get Free! H&M THB 100 gift voucher when booking any accommodations in Phuket with Agoda. Terms and conditions apply.

Central Phuket is a home of global luxury brands such as Alexander McQueen, Balenciaga, Ermenegildo Zegna, Gucci, Hermès, Louis Vuitton, and Saint Laurent. Exclusive for this season, Louis Vuitton launches a pop-up store located at Central Phuket. The design is inspired by the story of Damier or Checkerboard, the brand’s signature pattern. This classic pattern was created by Louis
Vuitton and his son Georges Vuitton in 1888 and has always been part of the design of Maison’s iconic items and concepts. Find clothes, shoes, bags, and accessories for men at the Pop-up Store from Louis Vuitton at Central Phuket, 1st floor, from today until 31 March 2024. And with over 500 renowned fashion brands and lifestyle shops ranging from local to international
well-known brands covering all categories, international shoppers will be able to find what they are looking for in Central Phuket.
Central Phuket is located in the heart of one of the world’s most famous beach cities, Phuket and await to welcome both locals and international visitors this holiday. Also, don’t miss one of the most joyful New Year Count Down events in Phuket city at Central Phuket Shopping Center on December 31, 2023.

World

Saudi Fund for Development Provides $100 Million Development Loan for the Rogun Hydropower Project

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, H.E. Kahhorzoda Fayziddin Sattor, through which SFD is contributing $100 million USD to fund the Rogun Hydropower Project, a landmark initiative that will enhance energy,
food, and water security, and foster sustainable development in the country. The signing was attended by the Ambassador of the Kingdom of Saudi Arabia to the Republic of Tajikistan, H.E. Waleed Al-Reshiadan, and the Ambassador of Tajikistan to Saudi Arabia, H.E. Akram Karimi, alongside other officials from both sides. SFD’s development loan will help contribute towards a more sustainable and equitable food and water future for Tajikistan, while driving the country’s energy transition and climate resilience. The project aims to contribute to the national energy security and will help advance sustainable
development in the Republic of Tajikistan, by providing the renewable electricity supply to meet local demand and expand electricity production domestically and regionally, producing 3600 MW of energy. The loan agreement will also finance the construction of a 335-meter-tall dam, which will enhance irrigation capabilities and bolster agricultural activities across the country. Additionally, the project will improve flood protection through the construction of four hydraulic
tunnels for diversion and drainage. It will also provide clean and drinkable water to people through desalination, and help advance socio-economic development, by creating both direct and indirect jobs.
Importantly, this project also supports the realization of the UN Sustainable Development Goals (SDGs); specifically, SDG 2, Zero Hunger, SDG 6, Clean Water and Sanitation, and SDG 7, Affordable and Clean Energy.
On this occasion, the CEO of SFD, H.E. Sultan Al-Marshad, said: “Today’s signing marks a major milestone in our shared journey towards a more sustainable future. With this landmark development loan, SFD is not just supporting Tajikistan’s energy future, but also its sustainable development and the well-being of its people. The Rogun Hydropower Project is a beacon of
hope for a bright future that is powered by clean, renewable energy. It will propel Tajikistan towards environmental stewardship and prosperity.”