FinTech

The DMCC said it onboarded the Solana Foundation as one of its ecosystem partners for technical support and to build a robust ecosystem. The Solana Foundation has joined the Dubai Multi Commodities Centre (DMCC) as an ecosystem partner. The DMCC, a free economic zone in the United Arab Emirates (UAE), will receive technical support and business development aid from the Solana Foundation. An official announcement states that Solana Foundation’s support would be provided to the DMCC Crypto...

Google’s announcement comes amid rising concerns over the copyright issues that have been linked with using generative AI. Google is making it its business to legally protect users of generative artificial intelligence (AI) systems within its Google Cloud and Workspace platforms. That is if they are ever faced with copyright infringement allegations. The announcement reads in part: “If you are challenged on copyright grounds, we will assume responsibility for the potential legal risks...

Out of the 1,258 job cuts, more than 750 positions are from different levels of Qualcomm’s engineering ranks. The rest of the reductions cover a broad range of roles such as internal technical staff and accounting.  American largest chipmaker Qualcomm Inc (NASDAQ: QCOM) will lay off about 1258 employees in its California unit. According to a filing with the California Employment Development Department, as many as 1,064 of its San Diego employees and 194 of its Santa Clara employees will be...

If the appeal process, which could take years, does not result in a unanimous agreement, the corporation would have to settle any unresolved issues in court. The United States Internal Revenue Service (IRS) has informed Microsoft Corp (NASDAQ: MSFT) that it owes back taxes of  $28.9 billion “plus penalties and interest” for the tax years 2004 through 2013. In an 8-K filing on Wednesday, the corporation revealed that it had received Notices of Proposed Adjustment (NOPAs) from the IRS....

To enhance profitability and mitigate the impact of cyclical downturns, Samsung is focusing on advanced memory chips, particularly high bandwidth memory chips that are crucial for AI servers and processors.  Samsung Electronics, the South Korean tech giant, released its preliminary earnings guidance for the third quarter (Q3 2023), indicating a notable 77.9% drop in operating profit compared to last year. According to the company, the decrease in profitability is primarily attributed to...

CCS Insight predicts that the EU will indeed be the first to introduce specific regulations for AI. CCS Insight, a leading technology research firm has made a bold prediction that generative Artificial Intelligence (AI) is in for a reality check in 2024, as the hype surrounding this transformative technology gives way to the practical challenges it poses. The Cold Shower for Generative AI in 2024 According to recent reports, CSS Insight shared this prediction in its annual roundup of top...

The Hong Kong Monetary Authority (HKMA) recently completed a public consultation on stablecoins regulations. As the city of Hong Kong prepares for mainstream adoption of digital assets through a regulated manner, the officials are grappling with cases of crypto-related scams. In a bid to ensure maximum protection of investors’ funds, Hong Kong’s Secretary for Financial Services and Treasury Christian Hui has noted that trading of retail stablecoins is not yet allowed. With the regulations...

The approval came after the FTC in the United States initially filed a lawsuit to block the Activision Blizzard acquisition last year. According to a Friday report from The Verge, Microsoft Corp (NASDAQ: MSFT) is edging closer to finalizing its proposed $68.7 billion acquisition of Activision Blizzard, with an expected announcement set for next week. The US-based tech giant has earmarked October 13 as the potential closing date for the deal. The long-awaited acquisition, which has been in...

MyTonWallet’s v16 version upgrade comes on the heels of the introduction of messaging functionality implemented on the TON blockchain earlier in July. MyTonWallet, an independent crypto and browser extension wallet for the TON network has unveiled its highly anticipated v16 version. This latest update brings a host of exciting features to the table while bolstering security measures, reinforcing MyTonWallet’s commitment to responsible wallet use. Exciting Features on MyTonWallet’s v16...

The company initially planned to test its internet satellites aboard ULA’s new Vulcan rocket earlier this year. However, the e-commerce giant faced an unforeseen setback when the rocket experienced an explosion. Amazon is set to take its internet satellite “Project Kuiper” on its first mission to space on Friday, October 6. In a recent announcement on Tuesday, the company said that Project Kuiper will be taking a “protoflight” mission into space with the launch of two test satellites,...