Name: Abdur Rehman

Roll No: 032

Section: B

Last weak news before exam 12-6-2023

Elon Musk says Twitter has ‘no actual choice’ about

government censorship requests.

The comment comes after Musk has previously called himself a “free speech
absolutist” and said he wanted to buy Twitter to bolster users’ ability to speak
freely on the platform. Shortly after agreeing to acquire Twitter, Musk explained
his approach to free speech by saying: “Is someone you don’t like allowed to say
something you don’t like? And if that is the case, then we have free speech.” He
added at the time that Twitter would “be very reluctant to delete things” and “be
very cautious with permanent bans,” and that the platform would aim to allow all
legal speech.

But Musk has faced blowback in recent weeks for appearing to cave to
government censorship demands, including by removing  some accounts and
tweets at the behest of the government of Turkey ahead of the country’s elections
(which the company later said it would attempt to fight in court). 

The world’s biggest ad agency is going all in on AI

with Nvidia’s help.
WPP,the world’s largest advertising agency, has teamed up with
chipmaker Nvidia  to create ads using generative artificial intelligence.

“Generative AI is changing the world of marketing at incredible speed. This new

technology will transform the way that brands create content for commercial
use,” WPP CEO Mark Read said in a statement.

he platform will enable WPP (WPP) ’s creative teams to integrate content from

organizations such as Adobe and Getty Images with generative AI to produce
advertising campaigns “more efficiently and at scale,” according to WPP (WPP) .
This would enable companies to make large volumes of advertising content, such
as images or videos, “more tailored and immersive,” the company added.

Apple announces multibillion-dollar agreement for 5G

components made in US.
Apple on Tuesday announced a multibillion-dollar agreement to develop 5G radio
frequency and wireless connectivity components in the United States.

The company said it is partnering with US-based manufacturer Broadcom for the
components, which will be designed and built in several American manufacturing
and technology hubs, including Fort Collins, Colorado, where Broadcom operates
a facility.

“All of Apple’s products depend on technology engineered and built here in the
United States, and we’ll continue to deepen our investments in the US. economy
because we have an unshakable belief in America’s future,” Apple CEO Tim
Cook said in a press release.

15-5-2023

What happens if the debt ceiling and

banking crisis collide?

This would have a serious impact on small and medium-sized enterprises. Access to credit
could become more difficult, compounding the challenges individuals and businesses are
already facing as a result of the banking crisis.

Before Bell spoke to Dean Zerbe, the national executive director of Alliant group and former
senior counsel and tax advisor to the US Senate Treasury Committee, to discuss what that
might look like.
Can Morocco solve Europe’s energy
crisis?

Morocco has big ambitions to export electricity produced by solar and wind farms to Europe,
but should it be prioritising such renewable energy for its home market?

The resources we have here could be one of the big, big answers to European
demand," says Moroccan energy entrepreneur Moundir Zniber. "I think
Morocco represents the best opportunity to get the European continent away
from the dependency it has today on Russian gas.  Currently the north African
nation of 39 million people depends on imports for 90% of its energy needs, and
most of that is from fossil fuels. In 2021, some 80.5% of Morocco's electricity
production came from burning coal, gas and oil. By contrast, only 12.4% came
from wind power, and 4.4% came from solar.

Pakistan’s reeling economy takes new hit

from protests.

Telecom operators have incurred an estimated revenue loss of 1.64 billion

rupees ($5.4m), while the government has lost approximately 574 million
rupees ($1.9m) in tax revenue, as a result of the service disruption, an industry
source told Al Jazeera. Fearing repercussions from government authorities, the
source requested anonymity.
Ibrahim Amin, chairman of the Pakistan Freelancers Association, said that the
IT freelance industry is making a loss of almost $2m a day due to the
suspension of internet services.

He added that it is also creating a very bad image for Pakistan’s IT sector,
which will affect the country’s IT business in the future.

10-5-2023

Elon Musk: Tesla to build new battery

factory in Shanghai.

Elon Musk's electric car company Tesla says it is expanding in China as it builds
a new factory to make its large-scale batteries.
The plant in Shanghai will be able to produce 10,000 of its "Megapack" energy
storage units a year, the firm says.
A Megapack is a very large battery that can be used to help stabilise energy grids and
prevent power outages.
Tesla already has Megapack plant in California, which also produces 10,000 of the
units each year.
Mr Musk said on Twitter that the new Chinese plant will be in addition to Tesla's US
factory.
China is the biggest producer of batteries, which Tesla will be able tap into to increase
production and lower costs.The announcement came as the US government has been
pressing American companies to become less reliant on China amid rising tensions
between Beijing and Washington.

Samsung to cut chip production after

profits plunge 96%.
Samsung Electronics will cut memory chip production after estimating a 96%
drop in its quarterly operating profit.
The chip-making giant said sales had dropped sharply due to a slow global economy
and less demand after Covid.

Apple is set to open its first retail store in

Mumbai as it bets big on India.

 
Apple is finally getting ready to open its first physical store in the country as it
bets on India as a market and manufacturing base.

The company teased the opening of its retail outlet in a brief

statement  Wednesday, saying it was preparing to greet customers in the financial
and commercial hub of Mumbai. Its previous plan to open a store  in the country
in 2021 was derailed by the coronavirus pandemic.
4-4-2023

McDonald's closes US offices ahead of

corporate job cuts

Fast food chain McDonald's is temporarily closing its US offices this week
ahead of an expected announcement on corporate job cuts.
The Wall Street Journal, which first reported the move, said McDonald's had
told US and some international staff to work from home so it can deliver
decisions on jobs virtually.
The burger chain has declined to comment on how many posts are affected.
The cuts are part of a wider company reorganisation it announced in January.

Oil prices surge after surprise move to cut

output.
Oil prices have surged after several of the world's largest exporters announced
surprise cuts in production.
The price of Brent crude oil is trading close to $85 a barrel after jumping by
almost 6%.
Economists warned that higher oil prices could make it harder to bring down
the cost of living.
US-China chip war: Japan plans to restrict
some equipment exports.

Japan's government says it plans to put restrictions on some computer chip-

making exports, following similar moves by the US and the Netherlands.
The measures will apply to 23 types of semiconductor manufacturing
equipment.
Semiconductors, which power everything from mobile phones to military
hardware, are at the centre of a bitter dispute between the US and China.
China has frequently called the US a "tech hegemony" in response to export
controls imposed by Washington.
However, Friday's statement from Japan's trade and industry ministry did not
make any reference to China or the US.

27-3-2023

Why almost everyone failed to predict Silicon Valley

Bank’s collapse?
A bank run took down Silicon Valley Bank on March 10, as depositors withdrew
$42 billion in a single day.
In the autopsy of SVB, there are clear signs of basic corporate
mismanagement, and when mixed with old-fashioned customer panic it
proved to be an existential flaw.
But what’s clear is that SVB’s failings are not the fault of any one person or
system or asset, but rather a cacophony of missed warning bells.

1: Breakneck growth
When banks grow quickly, there are red flags everywhere, says Dennis M.
Kelleher, CEO of Better Markets. That’s because the management’s
capacity and the bank’s compliance systems seldom grow at pace with the
rest of the business.

2 The clientele

Silicon Valley Bank was known for working with young tech start-ups that
other banks may have shunned. When those start-ups flourished, SVB grew
alongside them. The bank also managed the personal wealth of those start-
ups’ founders, who were often light on cash as their fortunes were tied to
equity in their companies.

3 Risk management 101

A casual observer of Silicon Valley Bank’s financial position even a month
ago would have had little reason to be alarmed.
4 missing CRO
For the past year, the Fed has jacked up interest rates at an unprecedented
pace in the modern era. And for most of that year, Silicon Valley Bank was
operating with a massive vacancy in its corporate leadership team: a chief
risk officer.

Pay $84 a year for Twitter Blue or lose your checkmark

beginning April 1, Twitter says.

Twitter’s free blue “verified” checkmarks for notable users may finally be
coming to an end.
Ever since Elon Musk took control of the company in October , he’s been
threatening to remove the “legacy” checkmarks that confirmed the
identities of users like government officials, corporations, journalists,
celebrities and other high-profile tweeters.

Sri Lanka: $3bn IMF bailout for struggling economy.

Sri Lanka has secured a $3bn (£2.4bn) bailout from the International Monetary
Fund (IMF) as it faces its worst economic crisis since independence.
The deal has been nearly a year in the making and a lifeline for the country that
has billions of dollars in loans.
Foreign minister Ali Sabry told the BBC the government will raise funds by
restructuring state-owned enterprises and privatising the national airline.
However, analysts warned Sri Lanka still faces a tough road ahead.
The country's economy has been hit hard by the pandemic, rising energy
prices, populist tax cuts and inflation of more than 50%.
14-3-2023

UK, France Among Top Destinations Preferred by Private Real Estate

Investors

Private investors were the most active buyers in global commercial real estate
investment in 2022, says a new report by Knight Frank. The year saw a
significant $455 billion invested, making for 41% of the total investment.

The Wealth Report of Knight Frank said that the number represents private
investors’ highest share of global commercial real estate on record and is the
first-time private investment has surpassed institutional investment. The year
2022 was the second strongest year on record for commercial real estate
investment volumes among private investors, with investors capitalising on
repriced assets and encouraging currency positions.
Relationship With India Top Priority, Says Saudi Arabia Foreign Minister

The Foreign Minister of Saudi Arabia, Farhan Al-Saud has said that the
relationship between India and Saudi Arabia has grown exponentially, and there
is a need for measurable progress in all sectors, especially the economic and
trade relationship.

Highlighting the strong relationship between Prime Minister Narendra Modi

and Crown Prince Mohammed bin Salman, the Saudi FM said that both leaders
want to see actual results and progress in relationship between the two nations.
Al-Saud said this relationship has grown exponentially in the last five years.
“India is a fantastically dynamic country with huge potential, and we have seen
that especially in the last five years, the trajectory for India is fantastic. The
potential that India holds is almost unmeasurable.”
India To Be Cheapest 5G Market Globally, Says Microsoft Founder Bill
Gates

Microsoft Co-founder Bill Gates has said that no country in the world has built
a more comprehensive digital infrastructure than India. He underlined that prior
to digital infrastructure, accomplishing the number of bank accounts that the
country has today would have taken 50 years.

During his visit to India early March, Gates acknowledged India’s competitive
private market, reliable and low-cost connectivity. He said that India will be one
of the “cheapest 5G markets” globally. The country already sees a great digital
network and high levels of smartphone use with really good connectivity.
1-3-23

Delhi To Spend Over ₹1,000 Crore on G20

Summit
 By Asia One
  February 28 2023

It is estimated that more than Rs 1,000 crore will be spent by various Delhi
government agencies on the preparations for the G20 (Group of 20) summit and
related events to be held in the city this year, officials said.

The Indian capital will host the main summit meeting of the G20 countries and
seven other related events, starting in March, during the country’s G20
presidency. The preparations that will include upgrading the civic infrastructure
and beautification work among other measures by various departments of the
city government and the New Delhi Municipal Council (NDMC) will cost Rs 1,084
crore.

The Deputy Chief Minister of Delhi, Manish Sisodia has written a letter to the
Centre, seeking a grant of Rs 927 crore to take up special development projects
for the G20 summit. According to the officials, 26 Delhi government
departments and central agencies are working on the preparations for the
summit.

The Public Works Department (PWD), Municipal Corporation of Delhi (MCD) and
the NDMC will mainly be associated with civic infrastructure improvement and
beautification work. It is estimated that the PWD, the MCD and the NDMC will
spend Rs 448 crore, Rs 249 crore and Rs 78 crore, respectively, on their work.
The Tourism Department of the city government has planned various events and
programmes and estimated a budget of Rs 72 crore.

India Needs 30 million Digitally Skilled

Professionals By 2026
India will need 30 million digitally skilled professionals by 2026, and about half of
the current workforce would require to re-skill themselves in areas of emerging
technologies, according to a report by employment services provider Team
Lease.

At present, India has about 500 million people of working age, and industry data
suggests that only 49% of total youth (age group of 22-25 years) in the country is
employable. The Team Lease Services’ survey indicates that 75% of companies
face a skill gap in the industry. Even among people who can stay in their current
jobs, 40% of fundamental abilities are likely to change and, thus, re-aligning the
skill strategy will be crucial for companies, it adds.

Over 2 million jobs in Artificial Intelligence, Cyber Security, and Blockchain are
expected to remain unfilled in 2023. In addition, the workplace is evolving so
rapidly that 76% of the global workforce is not equipped with the requisite skills
to function in the new digitally focused workplaces, the report said.

The report suggests that by developing a skills matrix, carrying out skill audits
directed at specific learning journeys and intermingling upskilling within the
company culture, a comprehensive skill development strategy can be created to
lead to a more sustainable work future.

Bottled water booming despite worries

over waste.
Environmental campaigner Hemantha Withanage is adamant that the purchase of
plastic-bottled water should be discouraged.
"Damage from plastics is irreversible," the chair of Friends of the Earth International
tells the BBC.
"Once fragmented into microplastics, it pollutes all of the ecosystems including the
oceans and the air we breathe, with no way to recover them."
The bottled water industry raises strong emotions from its opponents, who like Mr
Withanage point to the environmental impact of all the waste plastic.
And, with only 2.3% of bottled water coming in glass bottles, there is a lot of plastic.
In the US alone, 50 billion plastic water bottles are purchased every year, according
to one report. The study adds that only 9% of plastic bottles sold globally are
currently recycled.
The industry counters that today's bottles, made from polyethylene terephthalate
(PET), are 100% recyclable. And in the UK, 75% of PET bottles are recycled. Plus,
they are increasingly they are made from already recycled PET in the first place.
Others point to bottled water being healthier than sugary soft drinks. And then there
were the recent scandals about contaminated tap water in the US.
What is certain is that the global bottled water sector continues to boom. The
industry is expected to enjoy revenues of $324.4bn (£266bn) this year. And that
number is tipped to jump to $419.9bn by 2029.
This growth is being led by sparkling water, sales of which are more than doubling.