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Saudi Arabia, Egypt to set up joint $10 b fund for mega-city

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Saudi Arabia, Egypt to set up joint $10 b fund for mega-city

In a major bonhomie development between two major US allies in the Middle East, Saudi Arabia and Egypt have decided to set up a joint fund worth more than $ 10 billion to develop a megacity and business zone planned to be built by Riyadh on more than 1,000 square kms of land in the southern Sinai Peninsula, committed by Cairo.

Reuters quoted unnamed Saudi official saying that Egypt has committed land to a planned mega-city and business zone unveiled by Saudi Arabia last October. The territory along the Red Sea is part of a joint fund worth more than $10 billion and announced by the two countries late on Sunday during a visit to Cairo by Saudi Crown Prince Mohammed bin Salman, also known as MBS.

Read More:- Vision 2030: Saudi Crown Prince Unveils Dream City Project

Saudi Crown Prince arrived in Cairo on Sunday evening for a three-day visit and held meeting with President Abdel Fettah el-Sisi. He will travel to London and Washington after Cairo. This is his maiden foreign trip taking him to one of its closest allies in the region

Egypt, UAE and Bahrain had followed Riyadh’s suggestion for severing ties with Qatar in June last year.

Read More:- Saudi Arabia, UAE, Bahrain and Egypt snap ties with Qatar

Prince Mohammed previously announced plans for the 26,500 square km zone, known as NEOM, with its own judicial system and legislation designed to attract international investors, at an international investment conference in Riyadh. The mega-city is supposed to focus on industries such as energy and water, biotechnology, food, advanced manufacturing and tourism.

The location of NEOM, close to Israeli territory and also Egyptian  city of Sharm al-Sheikh, known for its beaches popular among western tourists coupled with ongoing cultural transformation under Crown Prince Mohammed bin Salman indicates the future scenario. The NEOM was originally conceived to develop across Saudi Arabia, Egypt and Jordan.

Saudi Arabia plans to build seven cities and tourism projects, while Egypt will focus on developing the existing resort cities of Sharm El Sheikh and Hurghada, the Saudi official said. The public and private investment in the area was eventually expected to $500 billion mark.

Saudi Arabia, Egypt to set up joint $10 b fund for mega-city

Saudi Arabia is known for its conventional and extremist Wahabi ideology. In recent months thousands of Wahabi preachers were reportedly detained. Videos of religious preachers’ detention even during their speeches in mosques were in public domain.

The Saudi official has also disclosed that the kingdom will also work with Egypt and Jordan to attract European cruise companies to operate in the Red Sea during the winter season. Riyadh is negotiating with seven important cruise companies.

Saudi Arabia will also set up 50 resorts and four small cities as part of a separate tourism initiative announced last August and backed by the country’s Public Investment Fund (PIF).

The Red Sea Project, made up of some 50 islands, will offer a nature reserve, diving on coral reefs and heritage sites. Construction will commence in 2019 and is scheduled to complete its first phase by late 2022.

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ChatGPT outage affects thousands of users globally, OpenAI reacts

OpenAI swiftly acknowledged the outage, publishing updates on their dedicated status page. This transparency, while offering little in the way of immediate solutions, served to reassure users that the company was actively addressing the situation.

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On January 23, OpenAI’s popular AI chatbot, ChatGPT, suffered a significant global outage, leaving millions of users unable to access the service. The disruption affected multiple access points, including the web interface, the mobile application, and even integrations on social media platforms like X (formerly Twitter). This widespread failure quickly drew significant attention, with reports flooding in from users worldwide.

The outage tracking website, Downdetector, registered a surge in user reports, exceeding a thousand complaints within a short period. This volume underscored the scale of the disruption and the significant impact on ChatGPT’s user base.

The majority of these reports indicated a complete inability to use the chatbot, highlighting the severity of the problem. A smaller percentage of users reported encountering difficulties with the website or API, suggesting a less comprehensive but still noticeable impact.

OpenAI swiftly acknowledged the outage, publishing updates on their dedicated status page. This transparency, while offering little in the way of immediate solutions, served to reassure users that the company was actively addressing the situation.

The official statements consistently described the problem as “degraded performance” and “elevated error rates” within the API, hinting at underlying technical issues that required investigation. However, specific details regarding the root cause remained undisclosed, pending a more thorough examination.

According to reports, the outage commenced around 5 PM IST and persisted for several hours. The lack of a definitive timeline and the ongoing nature of the disruption underlined the complexity of the problem and the challenges faced by OpenAI’s engineering teams in resolving the issue.

As of the latest updates, the exact cause of the outage remains under investigation by OpenAI. The company is actively working to restore full functionality and provide a more comprehensive explanation once the underlying problem has been identified and rectified.

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Prince Harry, Rupert Murdoch’s UK group reach settlement in surveillance case

The relentless media attention, he has claimed, also contributed to the intense pressure that led him and his wife, Meghan Markle, to step back from royal duties and relocate to the United States in 2020.

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Prince Harry has reached a settlement with Rupert Murdoch’s News Group Newspapers (NGN), bringing an abrupt end to a high-profile lawsuit alleging widespread phone hacking and unlawful surveillance.

The settlement, announced just as the trial was about to commence, includes substantial financial compensation for the Duke of Sussex and a formal, unequivocal apology from NGN. This marks a significant victory for Harry, who had accused the media giant of years of intrusive and illegal activities targeting his private life.

The apology, issued directly to Harry’s legal team, explicitly acknowledged the serious breach of privacy inflicted by both The Sun and the defunct News of the World. It detailed unlawful actions perpetrated between 1996 and 2011, including phone hacking, surveillance, and the use of private investigators to obtain sensitive information.

The statement specifically addressed the intrusive activities carried out by private investigators employed by The Sun, emphasizing the severity of the intrusion into Harry’s private life during his formative years. The apology extended to the distress caused to his late mother, Princess Diana, highlighting the impact of the media’s actions on the young prince.

This settlement represents one of three lawsuits filed by Harry against British media outlets, all stemming from accusations of privacy violations. He has consistently blamed the media for the relentless pursuit of his mother, Princess Diana, ultimately leading to her tragic death in a car crash in Paris while being chased by paparazzi.

The relentless media attention, he has claimed, also contributed to the intense pressure that led him and his wife, Meghan Markle, to step back from royal duties and relocate to the United States in 2020.

The case underscores the wider issue of phone hacking and media intrusion, exemplified by the notorious scandal that forced the closure of News of the World in 2011. The hacking of murdered schoolgirl Milly Dowler’s phone, during the police investigation into her disappearance, remains a particularly egregious example of the unethical practices employed by some sections of the British press.

Harry’s legal battle has brought renewed focus to this issue and the need for greater accountability within the media industry. The settlement, while ending this particular legal chapter, leaves a lasting legacy concerning media responsibility and the rights of public figures to privacy.

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China reacts to Donald Trump’s 10% tariff remarks, says it would protect its national interest

While acknowledging a willingness to maintain open communication channels and collaborative efforts with the U.S., China firmly rejected the notion of a trade war, emphasizing that such conflicts ultimately yield no winners.

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China has issued a firm response to US President Donald Trump’s renewed threat to impose a 10% tariff on Chinese imports, beginning February 1. The statement, released by the Chinese foreign ministry, underscores Beijing’s unwavering commitment to safeguarding its national interests amidst escalating trade tensions with the United States.

While acknowledging a willingness to maintain open communication channels and collaborative efforts with the U.S., China firmly rejected the notion of a trade war, emphasizing that such conflicts ultimately yield no winners.

The statement directly addresses Trump’s justification for the proposed tariffs, citing the flow of fentanyl from China through Mexico and Canada into the United States. This latest escalation marks a significant development in the long-standing trade dispute between the two economic giants.

The proposed tariffs, scheduled for implementation on February 1st, echo a similar threat made by Trump earlier, targeting Canada and Mexico with 25% tariffs over concerns about illegal immigration and fentanyl trafficking.

This consistent pattern of utilizing tariffs as a tool to address broader geopolitical concerns highlights the complex and multifaceted nature of the relationship between the United States and its major trading partners.

China’s economy, heavily reliant on exports to sustain its economic growth, faces significant vulnerability to such protectionist measures. Despite ongoing efforts to diversify its economy and boost domestic consumption, exports remain a crucial pillar of China’s economic engine. The potential impact of a 10% tariff on Chinese goods entering the U.S. market could trigger substantial ripple effects throughout the global economy.

The current trade tensions represent a continuation of a protracted struggle dating back to the Trump administration’s first term, marked by the imposition of substantial tariffs on Chinese imports over alleged unfair trade practices.

These actions were further reinforced by the subsequent Biden administration, which implemented sweeping measures aimed at restricting Chinese access to critical high-tech components.

Trump’s recent pronouncements signal a potential further escalation of these long-standing trade disputes. China’s response clearly indicates its readiness to defend its economic interests and navigate the complex landscape of international trade relations.

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