MGX participation confirmed in OpenAI’s US$6.6bn in new funding, valuing it at US$157bn
OpenAI has finalized a deal to receive US$6.6 billion in new funding from investors who valued the company at US$157...Business
OpenAI chief technology officer Mira Murati leaving company
San Francisco, United States - OpenAI chief technology officer Mira Murati on Wednesday said she is leaving the company behind ChatGPT,...Business
Meta chief discusses AI risks with Japan PM during Asia tour
The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a...Meta chief Mark Zuckerberg is on a mini-tour of Asia that includes stops in Japan, India and South Korea, where he travelled on Tuesday night
He and Kishida met and discussed a broad range of topics including the status of AI's technological advancement and the risk surrounding generative AI
Apple drops electric car plans
It had dedicated nearly 2,000 workers for the program.According to media reports, the target of "Project Titan" began around 2014 to develop a fully autonomous car
The company has never publicly disclosed its EV plans, despite a steady drip of media leaks over the years
AI the new obsession for venture capital investing
Stung by the struggles of cryptocurrency and other faded Silicon Valley fads of recent years, venture capitalists have quickly doubled...While layoffs and budget tightening became routine at tech firms last year, startups in the AI sector raised nearly $50 billion from investor, according to market trackers
Scared off by the cost of entry, many venture capitalists have turned their attention to more narrowly focused AI startups that could shake up banking, healthcare and energy
Nissan plans self-driving taxi service in Japan
It has been testing self-driving mobility services since 2017.Nissan said it will begin trials of the commercial service in the upcoming financial year from April, using minivans in south of Tokyo
The company says it has been "testing business models for self-driving mobility services in Japan and abroad since 2017"
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021
The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs
Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...In the first month of 2024, Iranian steel mills produced a total of 2.6 million tons of steel.
The world's 71 steel-producing countries produced 148.1 million tons of steel in January 2024.
Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.The issue concerns Hess's 30 percent stake in the Stabroek Block offshore Guyana, a mammoth oilfield that was a driver of the takeover.
Stabroek is operated by US giant ExxonMobil, which has a 45 percent stake. Chinese company Cnooc holds the remaining 25 percent of the project.
UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...A penalty of US$2,722 (AED10,000) will be imposed on businesses that do not submit their Corporate Tax registration applications on time.
The penalty was implemented to prompt taxpayer compliance with laws through timely corporate tax registration.
WTO approves services trade rules, overcoming objections
The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release....Its integration into the WTO implies all 164 members have approved as per the body's rules which require full consensus.
Ministers' negotiations also focused on fisheries and agriculture, but progress could be made on a new global agreement on fisheries subsidies.
AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.