Author: News Desk
UAE aims to increase the number of SMEs to 1 million by 2030 According to Bin Touq Al Marri, Minister of Economy, the number of small and medium-sized firms (SMEs) operating in the UAE by the end of 2022 was 557,000, in accordance with the country’s ambition to increase this number to one million by the end of 2030. He noted that SMEs account for 63.5 percent of non-oil GDP and that the Ministry’s involvement in building an investment climate that supports citizens who own SMEs is in accordance with the Ministry’s aim of establishing a globally competitive knowledge-based economy…
Google has introduced a new Play Store regulation for applications in an effort to provide customers with better clarity and control over their in-app data. The change instructs app developers to include a “simply discoverable option” for cancelling the account. Google revealed in a blog post that the new web requirement “should be linked to the app’s Data safety form so that users can request data and account deletion without having to reinstall the app. “While Play’s Data safety section currently allows developers to advertise their data deletion choices, we know that customers prefer a more straightforward and uniform method…
India prohibits betting and wagering in online gaming, and introduces self-regulatory organizations. The Government issued new regulations for Internet gambling on Thursday that forbids any game that involves betting or wagering and establishes a structure of several self-regulatory organisations (SROs). According to Rajeev Chandrasekhar, Minister of State for IT, online games that incorporate wagering or betting will be in violation of the new regulations governing online gaming. There will be a number of self-regulatory organisations (SROs) that include but are not restricted to the sector in their membership. We are dealing with a structure that enables an SRO—and there will be several SROs—to decide whether or not all forms of online gambling are…
According to persons with first-hand knowledge of the subject, EdTech company BYJU’s lenders have asked up to $200 million (approximately Rs.1,600 crore) in prepayment combined with a higher rate of interest in order to restructure its $1.2 billion (Rs.9,600 crore) term loan B (TLB). According to the article, the Bengaluru-based business has offered to boost the interest rate by roughly 200 basis points (bps), but they are yet to agree on the prepayment condition proposed by the lenders, which includes a number of US-based hedge funds. One basis point equals a hundredth of a percentage point. On March 20, ET…
Meta releases an advanced object identification model (SAM) and dataset for download An artificial intelligence model that can recognize specific objects in a picture has been released, according to Meta. In addition to the model, Meta has also released the largest dataset of its kind to date which includes comments on images. In a recent blog post, Meta’s research division claimed that the business has created the Segment Anything Model, a sophisticated object identification model (SAM). SAM is built to recognize items in pictures and videos even if it hasn’t seen them before during training. The paradigm enables users to choose…
On Thursday, April 6, the Reserve Bank of India (RBI) suggested that banks should enable consumers to be provided with pre-approved credit limits via UPI, “expanding the scope” of the Unified Payment Interface (UPI). The RBI’s “Statement on Developmental and Regulatory Policies,” released following the Monetary Policy Committee (MPC) meeting, suggests broadening the use of UPI by facilitating transfers to/from pre-approved credit lines at banks in addition to deposit accounts. This change will make it easier to make payments supported by bank credit through the UPI network. In other words, customers will be able to obtain credit in the same…
Reliance Retail launches ‘TIRA’, an omnichannel beauty platform With the debut of Tira, Reliance Retail Ltd. has stepped its rivalry in India’s rapidly growing $27 billion beauty and personal care sector. Customers can now access the Tira app and website, which features goods for men’s grooming, bathing, skincare, haircare, scent, and cosmetics, the firm announced in a statement on Wednesday. In addition, Tira’s flagship shop in Mumbai has been revealed by the nation’s biggest retailer. Isha Ambani, Executive Director of Reliance Retail Ventures Ltd., the parent company of Reliance Retail Ltd., stated, “With Tira, we aim to break down barriers in the beauty space and democratize beauty…
Astra Tech adds Arabic Chat GPT functionality to BOTIM app The BOTIM app now features the first Arabic Chat GPT, thanks to Astra Tech. The GPT has the potential to revolutionize service access by leveraging knowledge from the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) through conversational commerce. The AI-powered BOTIM Arabic Chat GPT platform will support all of the app’s services and guarantee that the information presented is always up-to-date and correct by continually sourcing the most recent data from local marketplaces. BOTIM Arabic Chat GPTMany services, including foreign money transfers, bill payments, government services, and weather checks, will be provided by BOTIM GPT. The platform is…
As the most valuable tech firm in the world accelerates its expansion and focuses on premium items to maintain its exclusive image in the nation, Apple will soon build its first retail location in India. Although the official launch date has not yet been declared, the Cupertino, California-based business shared a photo on Wednesday of the barricade surrounding its retail location in Mumbai, the financial center of India. The Jio World Drive mall, owned by billionaire Mukesh Ambani, will soon house the first Apple Store. In addition, Apple is constructing its second retail location, which will open soon in Delhi. At a time when sales of Apple goods,…
Goldman Sachs’ 10,000 Women project generates 28 Billion rupees in revenue and 12,000 jobs. Goldman Sachs released the findings of its 10,000 Women study today, showing that within 18 months of programme completion, the Business and Management Education initiative for Women Entrepreneurs, developed and entirely funded by the International Financial Institution, had contributed to the creation of about 12,000 new jobs and added Rs 28 billion in revenue to the Indian economy. The 10,000 Women programme was originally introduced in India in 2008 and offers women company owners access to funding, mentorship, and business and management education. In a year…