UK’s richest family get jail terms for exploiting staff at Swiss villa
Geneva, Switzerland -A Swiss court handed jail sentences to four members of Britain's richest family on Friday, branding them "selfish" for...Business
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...Business
AI revolution in video games has industry players treading warily
The ultra-connected industry is eyeing the innovation warily, with fears growing that jobs could be made redundant and artistic creations...Attracting thousands of video game lovers every year, Gamescom, one of the video game industry's biggest fairs, is an opportunity for studios to showcase their latest creations.
Many gamers turn up in cosplay costumes, as they throng the stands to try out the potential new hits -- this year including some that prominently feature AI.
Joint Jordanian-Yemeni Business Council to resume activities, says JCC
AMMAN, JORDAN - President of the Jordan Chamber of Commerce (JCC) Khalil Al-Haj Tawfiq on Saturday discussed with Director General...The Jordan Chamber of Commerce stressed on the importance of attracting new Yemeni investments to the Hashemite Kingdom.
The JCC said the Kingdom offers several opportunities in multiple commercial, service and industrial sectors for investors.
Jordan oil bill falls in H1 2023 compared to H1 2022, says government
AMMAN, JORDAN - The value of the Kingdom's oil bill decreased during the first half of 2023 by 15.6 percent,...The value of Jordan’s imports of crude oil, its derivatives and mineral oils went down in the first half of 2023, to reach about JD1.531 billion.
In the first half of 2022, the value of imports of crude oil, its derivatives and mineral oils was about JD1.813 billion.
BRICS secures 47% global oil with Saudi Arabia, UAE, Iran inclusion
Tehran, Iran - The inclusion of Saudi Arabia, the UAE, and Iran, will significantly increase BRICS’ weight in the oil...Together with the existing participants, Russia and Brazil, these countries jointly command 39% of the global oil exports
BRICS will also possess nearly half of the world's total oil reserves, amounting to 719.5 billion barrels out of 1.6 trillion
DP World to invest $510m to develop mega-container terminal in India
New Delhi. India - DP World on Friday signed a concession agreement with the Deendayal Port Authority to develop, operate...DP World currently operates five container terminals in India – two in Mumbai, one each in Mundra, Cochin and Chennai
With the addition of the Tuna Tekra terminal, the company will have a combined capacity of 8.19 million TEUs
Rising data breach hits Middle East’s financial sector
In 2023, data breach costs in the Middle East soared to $8 million, marking a 155.9% rise over a decade,...In 2023, data breach costs in the Middle East soared to $8 million, marking a 155.9% rise over a decade, with the financial sector bearing the brunt, a report points out
AI and automation notably shorten data breach lifecycles and costs, while phishing emerges as the predominant cause of breaches in the region, the IBM study adds
AI risks repeating social media mistakes, says Microsoft president
NEW DELHI, INDIA - Breakneck development of artificial intelligence risked repeating mistakes made by the tech industry at the start of...AI tools have shown in recent months the ability to generate essays, create realistic images, mimic voices of famous singers and even pass medical exams
But there are also worries that chatbots could flood the internet with disinformation, that biased algorithms will churn out racist material
Bing, LinkedIn vow more ads transparency
It comes as EU rules on tech platforms enter into force.Internet giants must now enforce the milestone EU's Digital Services Act (DSA), which demands they protect users online from harmful content.
Microsoft-owned LinkedIn said in a blog post they had implemented this change for the desktop and mobile version of the network.
US Federal Reserve prepared to raise interest rates further
The US Federal Reserve is prepared to raise interest rates higher - and hold them there - to bring down...After 11 rate hikes in less than 18 months, the US benchmark lending rate now sits at a range between 5.25 and 5.5 percent - its highest level for 22 years.
The rapid cycle of interest rate increases has failed to definitively quash inflation, which remains stuck above the Fed's long-term target of two percent.
All eyes on tech firms as strict EU digital rules come into effect
The landmark Digital Services Act (DSA) compels tech companies to better police content to protect European users against disinformation and...The first phase of the regulation affects 19 "very large" digital platforms including social media networks, websites and online retailers with at least 45m monthly active users.
They are: Alibaba AliExpress, Amazon Store, Apple AppStore, Booking.com, Meta-owned Facebook and Instagram, Google's Maps, Play, and Shopping, LinkedIn, Pinterest.
