Saudi Aramco Highlights Innovation in Pavilion at Esports World Cup Events

The pavilion includes an event titled "Virtual Reality Races on Jeddah Corniche Circuit," one of the main attractions offering visitors a unique experience through competitive races in a virtual environment simulating the famous Jeddah Corniche Circuit. (SPA)
The pavilion includes an event titled "Virtual Reality Races on Jeddah Corniche Circuit," one of the main attractions offering visitors a unique experience through competitive races in a virtual environment simulating the famous Jeddah Corniche Circuit. (SPA)
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Saudi Aramco Highlights Innovation in Pavilion at Esports World Cup Events

The pavilion includes an event titled "Virtual Reality Races on Jeddah Corniche Circuit," one of the main attractions offering visitors a unique experience through competitive races in a virtual environment simulating the famous Jeddah Corniche Circuit. (SPA)
The pavilion includes an event titled "Virtual Reality Races on Jeddah Corniche Circuit," one of the main attractions offering visitors a unique experience through competitive races in a virtual environment simulating the famous Jeddah Corniche Circuit. (SPA)

Saudi Aramco's pavilion at the Esports World Cup, the largest event in gaming history being held at Boulevard Riyadh City until August 25, stands out with three main activities that have caught visitors' attention and enriched their experience.

These activities are part of Aramco's ongoing efforts to boost interaction and engagement with the community through creative and innovative approaches.

The pavilion includes an event titled "Virtual Reality Races on Jeddah Corniche Circuit," one of the main attractions offering visitors a unique experience through competitive races in a virtual environment simulating the famous Jeddah Corniche Circuit.

Races are held twice daily, offering participants the chance to win daily prizes. Additionally, weekend races qualify winners for the grand prize provided by Aramco.

The experience not only provides entertainment but also fosters a competitive spirit and encourages technical skills among youth.

Aramco also presents visitors to its pavilion with a virtual experience titled "Aramco Vision," a two-minute virtual journey that takes visitors on a tour through the company's facilities.

It highlights major future projects like NEOM, providing visitors with a comprehensive view of Aramco's ambitious achievements and future ventures.

The third activity is the virtual racing experience at Boulevard Riyadh, which allows visitors to immerse themselves in the atmosphere of racing. The activity offers an immersive experience that enables visitors to test their abilities and skills in racing within a meticulously simulated real-world environment.

Through these activities, Aramco is emphasizing its ongoing commitment to boosting innovation and creativity across various fields, attracting youth to an enjoyable and challenging experience. This helps in strengthening the company's leading position in innovation and technology.



US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
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US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)

The US Supreme Court sidestepped on Friday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing Meta's Facebook of misleading investors about the misuse of the social media platform's user data.
The justices, who heard arguments in the case on Nov. 6, dismissed Facebook's appeal of a lower court's ruling that had allowed a 2018 class action led by Amalgamated Bank to proceed. The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been taken up. Its action leaves the lower court's decision in place, Reuters reported. 
The court's dismissal came in a one-line order that provided no explanation. The Facebook dispute was one of two cases to come before the Supreme Court this month involving the right of private litigants to hold companies to account for alleged securities fraud. The other one, involving the artificial intelligence chipmaker Nvidia, was argued on Nov. 13. The Supreme Court has not ruled yet in the Nvidia case.
The plaintiffs in the Facebook case claimed the company unlawfully withheld information from investors about a 2015 data breach involving British political consulting firm Cambridge Analytica that affected more than 30 million Facebook users. They accused Facebook of misleading investors in violation of the Securities Exchange Act, a 1934 federal law that requires publicly traded companies to disclose their business risks. Facebook's stock fell following 2018 media reports that Cambridge Analytica had used improperly harvested Facebook user data in connection with Donald Trump's successful US presidential campaign in 2016. The investors have sought unspecified monetary damages in part to recoup the lost value of the Facebook stock they held.
At issue was whether Facebook broke the law when it failed to detail the prior data breach in subsequent business-risk disclosures, and instead portrayed the risk of such incidents as purely hypothetical.
Facebook argued that it was not required to reveal that its warned-of risk had already materialized because "a reasonable investor" would understand risk disclosures to be forward-looking statements. President Joe Biden's administration supported the shareholders in the case.
US District Judge Edward Davila dismissed the lawsuit but the San Francisco-based 9th US Circuit Court of Appeals revived it.
The Cambridge Analytica data breach prompted US government investigations into Facebook's privacy practices, various lawsuits and a US congressional hearing. The US Securities and Exchange Commission in 2019 brought an enforcement action against Facebook over the matter, which the company settled for $100 million. Facebook paid a separate $5 billion penalty to the US Federal Trade Commission over the issue.
The Supreme Court in prior rulings has limited the authority of the Securities and Exchange Commission, the federal agency that polices securities fraud.