China’s SenseTime unfurls latest challenger to ChatGPT

BLOOMBERG SenseTime Group Inc showed off a suite of new artificial-intelligence (AI) services developed with the company’s access to vast troves of data and deep computing power, including the latest Chinese challenger to AI phenom ChatGPT. Chief Executive Officer Xu Li took the stage to demonstrate the large AI model SenseNova and a user-facing chatbot called SenseChat. Xu, with help ...

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‘Europe must develop its own autonomy’

BLOOMBERG Emmanuel Macron urged Europe to develop more strategic autonomy as a way to avoid the risk of turning the European Union (EU) countries into “vassals” in the event of a global crisis such as a US-China confrontation. “Strategic autonomy must be the battle of Europe,” the French president told the business daily Les Echos during his visit to China. ...

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North Korea cuts phone link with South, slamming ‘traitors’

BLOOMBERG North Korea appears to be purposefully cutting a communication link with South Korea as it ratchets up tensions by testing new weapons and denouncing its neighbour as a “puppet traitor” for holding military drills with the US. South Korea’s Unification Ministry said that North Korea failed to respond for a fourth straight day to regularly held calls on an ...

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US equity futures steady in light trading, Tesla declines

BLOOMBERG US equity futures were little changed while Asian stocks rose in holiday-thinned trading as investors assessed the Federal Reserve’s policy path following US jobs data. S&P 500 contracts rose less than 0.1% and MSCI Inc’s Asia-Pacific equity index added 0.2%. Trading volumes were light with markets across Europe, Hong Kong and Australia closed for Easter holidays. In the US ...

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Tech stocks is facing a reckoning ahead of tough earnings season

BLOOMBERG This year’s 20% rally in US technology stocks is decoupling from reality ahead of what’s predicted to be a gloomy reporting season, the latest MLIV Pulse survey shows. While investors have flocked to tech in the market shakeup amid recent banking turmoil, the rotation is at odds with analyst calls for the steepest drop in quarterly profits for the ...

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Tunisia tourism receipts rise 64%, rake in 1bn dinar in Q1

TUNIS / WAM Tunisia’s cumulative tourist revenues exceeded the 1 billion-dinar milestone in Q1 of 2023, climbing 64% compared to the same period last year, according to data published by the Central Bank of Tunisia (BCT). Cumulative labour income also saw an 8.5% increase, reaching 1.9 billion dinars, against 1.7 billion dinars at the end of March 2022, Tunis Afrique ...

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Rakez attracts 1,839 new firms to RAK in Q1

RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) welcomed 1,839 new companies in the first quarter of 2023, representing 122% growth compared to the same period in 2022, indicating a strong start to the year for the economic zone. Rakez Group CEO Ramy Jallad commented on this achievement: “We are thrilled to welcome 1,839 new companies to ...

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Sharjah chamber receives Bahrain, Cuba delegations

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has separately received two high-level diplomatic delegations from Bahrain and Cuba to discuss best practices and regulations for serving the interests of its members and the private sector in Sharjah and the UAE. The meetings also focussed on enhancing economic relations between business communities and exploring investment opportunities in ...

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UAE takes part in World Bank Group-IMF spring meetings

ABU DHABI / WAM The United Arab Emirates, represented by the Ministry of Finance (MoF), is participating in the 2023 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), which will be held in Washington from April 10-16. The UAE delegation is headed by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs. ...

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Abdullah bin Zayed, Blinken review latest regional developments

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and the US Secretary of State Antony J Blinken, have reviewed the latest developments in the Middle East. This came in a phone call between the two ministers, during which the UAE’s top diplomat emphasised on the importance of stopping escalation between ...

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