Home Blog Page 22

Global Cybersecurity Disaster Strikes: China’s Tech Independence Shines

0

A glitch in a software update developed by a cybersecurity company in the United States caused widespread disruptions last month, affecting computers globally, grounding flights, and interrupting banking services. Incidents like this underscore the vulnerability of key digital infrastructure in a connected world, experts said. They added that China remained largely immune to such disruptions, highlighting the need for developing technology independence to ensure information security.

On July 19, as CrowdStrike released a faulty software update, millions of Microsoft Windows users were hit by the blue screen of death. The impact was felt across the world, leading to media services being suspended and medical systems collapsing at healthcare facilities. Almost 30,000 flights were delayed on that day and nearly 7,000 were canceled worldwide, according to Euronews. Microsoft put the number of affected Windows devices at about 8.5 million.

Australian web security consultant Troy Hunt called the malfunction the largest IT outage in history. The episode highlighted the fragility of the current technology landscape where key digital infrastructure such as operating systems fall prey to tech glitches, Liu Jiqiang, dean of the School of Software Engineering at Beijing Jiaotong University, told China Daily. Considering the significant consequences of such failure, relevant companies should provide compensation to the security victims and make commitments to providing proper future updates and contingency plans in case of emergency, said Liu, who specializes in computer and information security.

Almost a week after the disaster, CrowdStrike CEO George Kurtz said 97 percent of the company’s Windows sensors were back online, but experts warned that full recovery might take longer. Despite the widespread disruptions, key pillar industries across the Chinese mainland, such as government services and airports, remained untouched as the occurrence had a relatively limited impact on China. Self-reliance in technology helped China avoid being hit by the glitch as domestically developed endpoint security protection software is widely used in China, especially in industries crucial to the economy and the livelihood of the people.

Such an incident, to some extent, can be called a good thing as it serves as an alert about security risks in a digitized world dependent on just a handful of providers. The outage is the result of a software monopoly that has become a single point of failure for too much of the global economy, George Rakis, executive director of the advocacy group NextGen Competition, said in a statement. Microsoft’s Windows is the most widely used computer operating system in the world, accounting for about 70 percent share of the desktop, according to Statista.

It serves as a wake-up call for more resilient supply chains in the information infrastructure sector, Liu said. The repercussions of this tech fault in China were felt mainly among multinational companies and industries with significant overseas operations, Kong Xiangyan, head of the Endpoint Security Department of 360 Digital Security Group, told China Daily. Technology and information security constitute a broader concept of national security, whose importance can never be overstated, Liu said.

Duality Quantum Accelerator Welcomes Fourth Startup Cohort in Chicago as Quantum Revolution Takes Hold, US

0

The Chicago-based Duality quantum accelerator has accepted its fourth cohort of startups into its program as the quantum revolution arrives in Illinois.

The five startups in this cohort are developing products and solutions across the quantum technology landscape that includes quantum computing, sensing, and communication, and will look to evolve their technologies and business practices to succeed in various industries like biomedicine and aerospace.

Duality is led by the Polsky Center for Entrepreneurship and Innovation at the University of Chicago and the Chicago Quantum Exchange (CQE), along with founding partners, the University of Illinois Urbana-Champaign, Argonne National Laboratory, and P33. To date, Duality startups that have completed the program have raised more than $20 million.

Launched in April 2021, Duality is a first-of-its-kind accelerator aimed at supporting next-generation startups focused on quantum science and technology. The 12-month program provides world-class business and entrepreneurship training from its partner institutions and the University of Chicago Booth School of Business.

Together, these startups embody the dynamic and transformative potential of quantum technology across computing, sensing, and communication. Participating in Duality marks a significant step forward in unlocking their groundbreaking solutions, said Duality Director Ezunial (Eze) Burts III. It’s incredible to see such a broad spectrum of startups joining the Duality program at a time of such great momentum for the Chicago region’s quantum ecosystem.

Earlier this year, Illinois Governor J.B. Pritzker allocated an additional $500 million in the state’s budget for quantum computing, and last week, the state of Illinois announced that it will build a first-of-its-kind quantum campus on Chicago’s South Side. The Illinois Quantum and Microelectronics Park will feature research labs, testbeds, a unique cryogenic facility, and more premier resources as well as the multimillion-dollar Illinois-DARPA Quantum Proving Ground that was announced last week.

The development of Chicago’s robust quantum ecosystem, including the newly-announced quantum technology campus, will positively impact businesses across the region, said Samir Mayekar, managing director of the Polsky Center. The very same ingredients that allowed Silicon Valley to thrive are coming together here in Chicago. Anchor institutions, including universities, government agencies, corporate partners and investors will enable startups to grow locally with the necessary talent and connections to funding. As this ecosystem continues to grow, Duality startups will be able to capitalize on this infrastructure.

Duality Cohort 4 Startups:

Through Duality, each startup will receive $50,000 in unrestricted funding and mentorship from top quantum experts. Selected startups will have the opportunity to explore partnerships and access some of the region’s state-of-the-art equipment and facilities for advanced computing, nanofabrication, atomic-scale measurement, quantum testbeds, and other premier resources.

The selected ventures were chosen from a competitive pool of applicants from across the globe, vetted by an internal review process, and approved by Duality’s Governing Board.

About the Polsky Center for Entrepreneurship and Innovation The Polsky Center for Entrepreneurship and Innovation advances innovative ideas and technologies from the University of Chicago ecosystem to the world. We are dedicated to supporting students, faculty, staff, and alumni, as well as other entrepreneurs and community-based small business owners in navigating the complex process of bringing new products, services, and research to market. For more information, visit polsky.uchicago.edu.

Apple Reports Record June Quarter Revenue of $85.8 Billion, Unveils Apple Intelligence, India

0

Apple has reported a new June quarter revenue record of $85.8 billion, marking a 5% increase from the previous year. The company’s CEO, Tim Cook, credited this growth to the performance in various countries and regions, including the notable rise in India. Cook announced during the earnings call that Apple had set quarterly revenue records in more than two dozen countries and regions, with services revenue experiencing a 14% increase. The company also celebrated strong performance in its Mac division, particularly in emerging markets such as Latin America, India, and South Asia.

These impressive results followed the announcement of significant software platform updates at Apple’s Worldwide Developers Conference, including the unveiling of Apple Intelligence—a revolutionary personal intelligence system leveraging powerful AI models on iPhone, iPad, and Mac devices. Cook expressed enthusiasm about the forthcoming enhancements that will enrich user experiences and reiterated Apple’s commitment to investing in innovations that align with the company’s core values.

Luca Maestri, Apple’s Senior Vice President and Chief Financial Officer, shared that Mac generated $7 billion in revenue, driven by the success of the MacBook Air featuring the M3 chip. The company demonstrated strong performance in various regions, with June quarter records achieved in markets like Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand. The positive response to Apple Intelligence and the company’s ongoing efforts to explore the potential of AI indicate a promising future for Apple as it continues to unlock new possibilities for users worldwide.

Coinbase’s Q2 Revenue Soars as Crypto Market Optimism Grows, US

0

Coinbase’s second-quarter revenue surpassed Wall Street expectations on Thursday as trading volumes roared back to life thanks to market euphoria over easing regulatory roadblocks, sending shares of the crypto exchange 3% higher after the bell.

Crypto markets have gotten a boost this year after the US Securities and Exchange Commission approved an exchange-traded fund to track the spot price of bitcoin and ether, ending an almost decade-long tussle.

We are increasingly optimistic that the next administration, whether Democrat or Republican, will be constructive on crypto. The rhetoric has shifted, CEO Brian Armstrong said on post-earnings conference call.

Since we went public, we have reiterated the need for regulatory clarity.

The SEC and Coinbase have locked horns over their divergent views on whether crypto tokens classify as securities and should be regulated similarly. The company has accused the top US markets regulator of overreach, while the SEC has alleged the largest U.S. crypto exchange is flouting its rules.

Approvals of spot bitcoin ETFs marked the entry of traditional financial heavyweights such as BlackRock BLK.N and Fidelity into digital assets, giving the sector greater credibility.

In the aftermath, the total market capitalization of the sector has swelled to roughly $2.36 trillion, according to CoinGecko, powered by gains in both bitcoin and ether, the second-biggest crypto token.

Coinbase’s total transaction revenue surged 139% to $780.9 million in the second quarter.

Revenue from Coinbase’s subscription and services unit, which houses businesses outside of trading, jumped 79% to $599 million in the quarter.

Quarterly custodial fee revenue climbed to $34.5 million, benefiting from inflows tied to spot bitcoin ETFs.

The company’s total revenue doubled to $1.45 billion, beating analysts’ estimates of $1.4 billion, according to LSEG data.

Police hunt for suspects after violent protests at Aldershot hotel, UK

0

Police have released images of eight people they want to identify after protesters threw objects and shouted racist abuse at a demonstration outside a hotel housing migrants in Aldershot.

Hampshire Police said a minority of the 200 people who gathered outside the Potters International Hotel became involved in the disruption on Wednesday evening.

It comes as violent protests have erupted across the country in locations such as Hartlepool and London in relation to the Southport stabbing rampage that saw three little girls killed on Monday.

Appealing for witnesses, a spokesman said: ‘Investigations are under way today to take action against those who sparked disruption in Aldershot last night.

‘A protest took place outside the Potters International Hotel and as with previous protests at this site, the majority of attendees gathered in a peaceful manner.

‘Unfortunately, at around 6.45pm, a minority of the 200 people present got involved in criminal activity, throwing objects and subjecting people to racial abuse.

‘Our officers were swiftly on scene and were able to disperse the group quickly.

‘Sadly, one of our officers suffered a minor injury as a result of the disruption.

‘We have immediately instigated a thorough investigation to identify those responsible, which includes reviewing evidence from our officers’ body-worn cameras, footage captured by our colleagues at National Police Air Service and CCTV cameras in the local area.

Assistant Chief Constable Paul Bartolomeo said: ‘The swift and decisive actions of our officers last night saw this incident brought under control, preventing further harm to the community in Aldershot.

‘Everyone has the right to free speech and peaceful protest. However, officers will take a robust stance against those whose behaviour falls below the standard we expect and who choose to act outside of the law.’

Alex Baker, Labour MP for Aldershot, said the situation had been ‘exacerbated’ by people from outside the community.

In a statement posted on X, she wrote: ‘I have been liaising with Hampshire Police this evening regarding a significant incident at Potter’s International Hotel in Aldershot, where a peaceful protest descended into intimidating behaviour.

‘I have visited the scene myself this evening and have been in close touch with the Chief Inspector.

‘I would like to pay tribute to the brave police officers who worked hard to restore order.

‘There is no justification for disorderly behaviour and these scenes do not represent Aldershot and Farnborough.

‘It comes as families in Hartlepool revealed how they were too terrified to leave their homes as rioters wreaked terror on the streets following the Southport knife attack.

Anyone with information is urged to contact police on 101, quoting 44240326041.

French Buyers Flock to Affordable Moroccan Real Estate Opportunities, Morocco

0

French buyers found affordable Moroccan properties in 2024, with prices starting at €42,000 for apartments and €600 per square meter outside major cities.

Morocco has become an increasingly popular destination for French buyers, particularly those with dual nationality, seeking real estate opportunities abroad. According to a report, thousands of French citizens are turning to Morocco for property purchases each year.

This trend is attributed to attractive prices, geographical proximity, and the rich Moroccan culture. Marrakech, Casablanca, and Rabat are among the most sought-after destinations for real estate purchases in Morocco, offering a diverse range of properties to cater to various preferences and budgets.

The average price per square meter in different regions ranges from €630 to €1,800, with affordable properties available for around €600 per square meter outside major cities. Houses, villas, apartments, and traditional riads are popular options among buyers, providing unique opportunities for investment or living in an exceptional setting.

Overall, the Moroccan real estate market presents a variety of choices for buyers looking to make a solid investment or find their dream home in a culturally rich and vibrant environment.

Morocco’s New 50 Dirham Banknote Showcases Sustainable Development Advances

0

Featuring stunning illustrations of Morocco’s sustainable development initiatives, the new 50 dirham banknote showcases the country’s commitment to clean energy and natural resource conservation.

Marrakech – As part of the celebration of the 25th anniversary of King Mohammed VI’s ascension to the throne, Bank Al-Maghrib has put into circulation a new 50 dirham banknote.

The new banknote, which entered circulation on Tuesday, highlights Morocco’s sustainable development through the national strategy for clean energy and the protection of natural resources.

The front of the banknote features a portrait of King Mohammed VI, the Coat of Arms of the Kingdom, an architectural motif inspired by Moroccan doors, and a stylized view of the Ouzoud Waterfalls.

The back of the banknote includes stylized views of the NOOR Solar Station in Ouarzazate, wind turbines, the Ouirgane dam, and the Agadir seawater desalination plant.

The new banknote incorporates the most advanced security features, such as a security thread with a dynamic color-shifting effect, an iridescent band on the back, a front-to-back registration device, raised patterns for the visually impaired, and progressive numbering.

All stages of the design and production of this new banknote were carried out exclusively by Moroccan expertise at Dar As-Sikkah.

In addition to the 50 dirham banknote, Bank Al-Maghrib also issued a commemorative silver coin with a face value of 250 dirhams to mark the 25th anniversary of King Mohammed VI’s enthronement.

The coin features artistic representations of the Allegiance Ceremony and the Royal Coat of Arms, along with inscriptions in Arabic, French, and Tifinagh.

Prior to the introduction of the 50 dirham banknote, Bank Al-Maghrib had announced the issuance of new 100 and 200 dirham banknotes.

The 100 dirham banknote, released on November 24, 2023, highlights the cultural heritage of the Moroccan Sahara, its socio-economic development, and its openness to Africa.

Introduced this year on January 12, the 200 dirham banknote emphasizes the economic and industrial development achieved under the enlightened leadership of King Mohammed VI, focusing on infrastructure, industry, and development.

Algeria Threatens Sanctions Against France Over Western Sahara Position

0

Algeria’s threats echo its reaction to Spain’s endorsement of Morocco’s Autonomy Plan as the most serious and credible path to a political solution in Western Sahara.

Rabat – The Algerian government has threatened to impose sanctions against France over Paris’s new position on the Western Sahara dispute.

After recalling the Algerian ambassador from Paris, Algeria’s Minister of Foreign Affairs Ahmed Attaf announced on Wednesday that his country would take further measures against France.

This is not a recall of the ambassador for consultation. It is a reduction in diplomatic representation. It is a significant step to express our condemnation and disapproval, Attaf said at a press conference.

The withdrawal of the Algerian ambassador was the first step that would be followed by other actions, Attaf said, claiming that President Macron informed Tebboune of his country’s Sahara decision back in June.

The French decision does not serve the peaceful resolution of the Western Sahara issue and contradicts the diplomatic efforts of the UN and some international actors, he fumed.

On Tuesday, the Moroccan royal cabinet issued a statement announcing President Macron’s confirmation of his country’s recognition of Morocco’s sovereignty over its southern provinces.

The present and future of Western Sahara lie within the framework of Morocco’s sovereignty, the royal cabinet quoted President Macron as saying in his letter to King Mohammed VI.

The King responded to Macron’s decision by welcoming the French government for its clear and strong position in support of the exclusive centrality of the Moroccan plan to resolve the Saara dispute, the statement.

France’s decision followed a hasty statement last week by the Algerian Foreign Ministry, which hinted at and denounced a possible move by Paris to recognize Moroccan sovereignty.

Algeria deleted the hasty press release the same day but issued a new statement on Monday against France’s decision after Macron officially announced his country’s new position on the Sahara.

Algeria’s threats against France echo its equally indignant reaction when Spain endorsed Morocco’s Autonomy Plan as the most serious and credible basis for resolving the Sahara dispute in March 2022.

As with France this week, Algeria also recalled its ambassador to Madrid and also terminated a 20-year-old Friendship Treaty with the European country in protest of its embrace of the Moroccan plan for the Sahara.

New Latin America Accelerator for Ecosystem Startups Launches in 2023, Mexico

0

Village Capital, with the support of Moody’s, launches a new accelerator program in Latin America that will support between eight and 10 startups that defend the restoration of ecosystems in Latin America.

The call is open to startups in Latin America that are building locally viable ecosystem restoration solutions in focus areas such as:

The call closes on March 31, 2023. All details and selection criteria can be found here.

From May to July 2023, the selected companies will participate in three online workshops. Workshop topics will focus on providing support to develop the networks and tools needed to scale your impact.

Those selected will work closely with industry experts, investors, and ecosystem partners, as well as an investment analyst who will train them 1:1 in building a financial model, identifying economic units, and using financial metrics to boost the business and support its capital raising process.

All startups that apply to the program will be invited to join Abaca, Village Capital’s global online network that helps entrepreneurs become self-aware of their businesses and recognize if they are ready to receive investment for their next expansion. The network provides them with diagnostic tools and connects them with the right investors and resources.

For more information, contact Sofía Cándano from Village Capital at: [email protected].

Reddit Acquires Memorable AI for Enhanced Ad Creativity, US

0

Over the last two years, we’ve incorporated machine learning and generative AI technologies into our advertising capabilities to drive more compelling experiences for our users, and augment results for our clients. We’re pleased to announce we’ve acquired ad creative optimization platform, Memorable AI, to further advance campaign performance and impact.

Through this acquisition, Reddit advertisers will have access to Memorable AI’s best-in-class tools to enhance their campaign planning and drive higher performance. As we integrate Memorable into our ad stack, our partners will be able to see performance benefits from creative insights from previous ads, better creative effectiveness, and automation that guides their creative towards maximum performance and return on ad spend.

Recently named as one of Gartner’s Cool Vendors in Generative AI for Marketing 2024, Memorable AI is powered by an industry-leading, large AI foundation model that allows advertisers to strategize ad creative according to their branding and conversion goals via an AI-based co-pilot. Trained with state-of-the-art machine learning techniques and a broad dataset spanning media metrics and cognitive impact, this foundation model has reached the deepest understanding of the interplay between ad creative and media impact. In addition to improving creative guidance and ad generation, the technology provides actionable estimates of the impact of ad creatives across click-through, engagement, and view-through rates, as well as brand lift and conversion rates.