Italy has imposed a ban on the use of the artificial intelligence (AI) bot ChatGPT, citing OpenAI’s “unlawful collection of personal data.” OpenAI, which is supported by Microsoft, has been directed by the national privacy regulator to halt the collection of data from Italian users until it rectifies its data collection practices. However, the UK…
Tesla recalls its Semi electric trucks after brake defect found
Tesla has issued a voluntary recall on its Semi trucks as the electronic parking brake valve module found to contain a defect, according to recall filings posted on the website of the National Highway Traffic Safety Administration. As many as, 35 Semi trucks were affected. The trucks were built with an electronic parking brake valve…
Unlocking the Value of Your Precious Metals: A Guide to Selling
Are you wondering what to do with all the gold, silver, and other metals hidden in your home for years? Selling these precious metals can make a significant impact on your financial security. But knowing where or how to start when dealing with such valuable commodities can be challenging. To help point you in the…
Pakistan stock exchange decline 21% in the first quarter of 2023
KARACHI: Economic and political issues affected Pakistan bourse in 1Q2023. As a result Pakistan Stock Exchange (PSX) benchmark KSE Index fell 1% in 1Q2023. With PKR falling 20% against USD, the Index was down 21% in USD terms which is highest decline after 1Q2020 where the index was down 33%. Delay in the 9th review…
Sartorius Stedim Biotech agrees to acquire Polyplus for 2.4 billion euros
PARIS, FRANCE: Sartorius Stedim Biotech, a leading international partner of the biopharmaceutical industry, has signed an agreement to acquire Polyplus for approximately 2.4 billion euros from private investors, including ARCHIMED and WP GG Holdings IV B.V., an affiliate of Warburg Pincus. Polyplus, with around 270 employees, develops and produces transfection as well as other DNA/RNA…
Pakistan’s locally produced urea fertilizer sales decline 13% in February 2023
Pakistan’s locally produced urea fertilizer sales declined 13% to 503,000 tonnes in February 2023 compared with sales recorded in the same month last year. The dip in urea offtakes is mainly attributable to lower urea production by RLNG-based plants due to unavailability of feed gas. Similarly, on MoM basis, urea offtakes declined by 24%, owing…
ArcelorMittal signs $5 bn loan agreement with Japan Bank for International Cooperation
AMSTERDAM: ArcelorMittal signed a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to strengthen their partnership in steelmaking and decarbonisation. The signing of the MOU between ArcelorMittal and JBIC builds on their existing business relationship, which includes JBIC’s financing in support of ArcelorMittal’s joint ventures with Nippon Steel Corporation in India…
Elkem ASA curtails production capacity in Norway
OSLO, NORWAY: Elkem ASA has decided to partially curtail its production in Norway by temporarily shutting down two furnaces – one in Thamshavn and one in Rana. The decision will have no impact on customers or employees. “We have decided to utilise a period with somewhat lower sales to bring forward planned maintenance and improvement…
Inchape, with local partner Indomobil, acquires Mercedes-Benz’s Indonesian business
LONDON, UK: Inchcape plc, the leading global automotive distributor, announced an agreement to acquire Mercedes-Benz’s Indonesian business with Inchcape’s local partner, Indomobil. The business has been operated by Mercedes-Benz since 1970, and includes both distribution and assembly operations. The deal will expand Inchcape’s existing distribution footprint in Indonesia, continuing to build on its well-established and…
Origin Enterprises has acquired Neo Environmental Limited
DUBLIN/LONDON: Origin Enterprises plc, the international Agronomy-Services group, announced the acquisition of Neo Environmental Limited (Neo). Neo is a multi-disciplinary consultancy business that provides market-leading planning, environmental and technical advice to a range of clients, primarily in the energy and infrastructure sectors across the UK & Ireland. Origin Enterprises Chief Executive Officer, Sean Coyle, said:…
Virgin Orbit shuts operations, to lay off all workforce
Virgin Orbit is ceasing operations after failing to secure a funding lifeline, CEO Dan Hart told employees during an all-hands meeting Thursday afternoon. The company will lay off nearly all of its workforce. The company will eliminate all but 100 positions, amounting to about 90% of the workforce, Hart said, noting the layoffs will affect…
Revasum Inc. announced the sale of a second 7AF-HMG grinder to Halo Industries
SAN LUIS OBISPO, CALIFORNIA: Global semiconductor technology and equipment firm, Revasum Inc. (ASX: RVS) announced the sale of a second 7AF-HMG grinder to Halo Industries, a leading silicon carbide substrate manufacturing technology customer in Santa Clara, CA. This latest sale reinforces the 7AF-HMG grinder’s position as the most flexible grinding platform available to support silicon…