😴 Tesla workers will sleep in the factory //
Tesla reopened its factory in Shanghai amid new lockdown. The city authorities encourage companies to get workers back into workplaces while maintaining the China's zero-covid strategies. The workers will now have to live in the factory.
According to Bloomberg reports, each worker will be provided with a sleeping bag and mattresses, with designated areas for sleeping, showering, eating, and relaxation.
@kod_ae
Tesla reopened its factory in Shanghai amid new lockdown. The city authorities encourage companies to get workers back into workplaces while maintaining the China's zero-covid strategies. The workers will now have to live in the factory.
According to Bloomberg reports, each worker will be provided with a sleeping bag and mattresses, with designated areas for sleeping, showering, eating, and relaxation.
@kod_ae
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🍽 Investments in Foodtech //
Sequoia Capital India and Prosus NV have made a $170 million investment in Saudi food and beverage technology startup Foodics.
Foodics will use the proceeds to expand its services and enter new countries. According to Chief Executive Officer Ahmad Al Zaini, the company is considering acquiring of its rivals and will expand into fintech once it receives a license from the Saudi Central Bank.
Foodics, which offers restaurant management software, digital payments and microloans, last raised $20 million from investors in early 2021. Al-Zaini said the company has enough funding to continue operating for the next two to three years, after which it will consider an initial public offering.
@kod_ae
Sequoia Capital India and Prosus NV have made a $170 million investment in Saudi food and beverage technology startup Foodics.
Foodics will use the proceeds to expand its services and enter new countries. According to Chief Executive Officer Ahmad Al Zaini, the company is considering acquiring of its rivals and will expand into fintech once it receives a license from the Saudi Central Bank.
Foodics, which offers restaurant management software, digital payments and microloans, last raised $20 million from investors in early 2021. Al-Zaini said the company has enough funding to continue operating for the next two to three years, after which it will consider an initial public offering.
@kod_ae
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🏪 The First AR-mall in the Middle East //
Snap Inc. has launched the Middle East and North Africa region's first augmented reality-powered virtual mall for the month of Ramadan.
The virtual mall can be accessed through Snapchat World Lens on the social media platform's outward-facing camera, where shoppers will be able to browse the participating brands' virtual stores. Then customers can go to the brand's website where they can purchase items.
The virtual mall will include brands such as Al Futtaim, IKEA, Namshi, L'Oreal and Samsung.
@kod_ae
Snap Inc. has launched the Middle East and North Africa region's first augmented reality-powered virtual mall for the month of Ramadan.
The virtual mall can be accessed through Snapchat World Lens on the social media platform's outward-facing camera, where shoppers will be able to browse the participating brands' virtual stores. Then customers can go to the brand's website where they can purchase items.
The virtual mall will include brands such as Al Futtaim, IKEA, Namshi, L'Oreal and Samsung.
@kod_ae
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🚙 Tesla Exceeds All Expectations //
According to Tesla Q1 2022 Report, earnings per share were $3.22 against expectations of $2.26, revenue reached $18.76 billion versus forecasts of $17.80 billion. Automotive revenues reached $16.86 billion, up 87% in comparison with the same period last year, partly due to the increasing number of deliveries and average selling price.
Tesla said it still expects to achieve 50% average annual growth in vehicle deliveries. However, the company warned that it had lost about a month at its Shanghai factory because of COVID-related temporal shutdowns. In addition, Tesla warned about supply chain difficulties throughout the entire year.
@kod_ae
According to Tesla Q1 2022 Report, earnings per share were $3.22 against expectations of $2.26, revenue reached $18.76 billion versus forecasts of $17.80 billion. Automotive revenues reached $16.86 billion, up 87% in comparison with the same period last year, partly due to the increasing number of deliveries and average selling price.
Tesla said it still expects to achieve 50% average annual growth in vehicle deliveries. However, the company warned that it had lost about a month at its Shanghai factory because of COVID-related temporal shutdowns. In addition, Tesla warned about supply chain difficulties throughout the entire year.
@kod_ae
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🌅 The cradle of civilization //
According to one of Egyptian research centres the country is becoming a new tech heaven. In 2021 560 start-ups were founded in Egypt, most of them specializing in e-commerce, fintech and medtech. In 2020 Egyptian start-ups received 190 $mln in investment, with 77% of the money coming from abroad.
Recently Egyptian IT sector has been growing increasingly fast, achieving 16% growth last year. At the same time investments are limited mostly to the country's capital, as Cairo based companies receive more than 90% of all the money.
@kod_ae
According to one of Egyptian research centres the country is becoming a new tech heaven. In 2021 560 start-ups were founded in Egypt, most of them specializing in e-commerce, fintech and medtech. In 2020 Egyptian start-ups received 190 $mln in investment, with 77% of the money coming from abroad.
Recently Egyptian IT sector has been growing increasingly fast, achieving 16% growth last year. At the same time investments are limited mostly to the country's capital, as Cairo based companies receive more than 90% of all the money.
@kod_ae
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✈️ Pavel Durov became UAE citizen in February 2021 //
According to Russian Forbes the founder of Telegram Pavel Durov received UAE citizenship in February 2021. A source close to Pavel Durov confirmed this information to our channel.
Already being a citizen of three countries - France, Russian and Saint Kitts and Nevis - he thus obtained his fourth citizenship.
The UAE has always been famous for having a very strict nationality law which effectively banned foreigners from becoming an Emirati citizen. It was only in February 2021 that the country announced its new policy allowing prominent individuals to obtain the Emirati nationality under "certain conditions". Famous investors, doctors, specialists, inventors, scientists, artists and their families could thus become UAE citizens. It is important to note that one cannot apply for the citizenship - a foreigner must be nominated for it by UAE royals or officials.
The UAE citizens enjoy a wide set of benefits ranging from visa-free entrance to 167 countries to registering assets and establishing new companies without any restrictions and red tape.
@kod_ae
According to Russian Forbes the founder of Telegram Pavel Durov received UAE citizenship in February 2021. A source close to Pavel Durov confirmed this information to our channel.
Already being a citizen of three countries - France, Russian and Saint Kitts and Nevis - he thus obtained his fourth citizenship.
The UAE has always been famous for having a very strict nationality law which effectively banned foreigners from becoming an Emirati citizen. It was only in February 2021 that the country announced its new policy allowing prominent individuals to obtain the Emirati nationality under "certain conditions". Famous investors, doctors, specialists, inventors, scientists, artists and their families could thus become UAE citizens. It is important to note that one cannot apply for the citizenship - a foreigner must be nominated for it by UAE royals or officials.
The UAE citizens enjoy a wide set of benefits ranging from visa-free entrance to 167 countries to registering assets and establishing new companies without any restrictions and red tape.
@kod_ae
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📱 Gaming in the MENA gets a new impulse //
Shorooq Partners, an Abu Dhabi-based venture capital firm, launched SHFT Build, a founder programme for the MENA, aimed at supporting entrepreneurs.
The first edition of the programme is said to focus on gaming technology, making it the first such platform in the region. The platform has already attracted many partners all over the globe with Amazon Web Services and Unity Technologies being among them.
Gaming market revenue in the MENA grew 15% this year, surpassing $6.5bn. The UAE, in particular, has become a gaming hotbed with mobile gamers on the rise. The Emirates was also ranked fifth globally for gaming influencers.
@kod_ae
Shorooq Partners, an Abu Dhabi-based venture capital firm, launched SHFT Build, a founder programme for the MENA, aimed at supporting entrepreneurs.
The first edition of the programme is said to focus on gaming technology, making it the first such platform in the region. The platform has already attracted many partners all over the globe with Amazon Web Services and Unity Technologies being among them.
Gaming market revenue in the MENA grew 15% this year, surpassing $6.5bn. The UAE, in particular, has become a gaming hotbed with mobile gamers on the rise. The Emirates was also ranked fifth globally for gaming influencers.
@kod_ae
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📝 Lobbying Amid Pressure //
Apple Inc. spent a record $2.5 million on lobbying in the first 3 months of 2022.
Apple's expenses rose by 34% from the $1.86 million the company spent in the fourth quarter of 2021. The last record was set in the second quarter of 2017, when Apple spent $2.2 million on lobbying services.
Google spent $2.96 million in the first three months of 2022. That's a 34% increase over the previous quarter, but it's the same amount the company spent in the first quarter of 2021.
Microsoft Corp. said that it spent $2.5 million on lobbying in the first quarter, an increase of 2.8% over the previous quarter.
Amazon spent just under $5 million, up 1% from the previous quarter.
Meta spent $5.39 million on lobbying in the first quarter, down slightly from the previous quarter.
The increase in lobbying costs are related to U.S. antitrust bills.
@kod_ae
Apple Inc. spent a record $2.5 million on lobbying in the first 3 months of 2022.
Apple's expenses rose by 34% from the $1.86 million the company spent in the fourth quarter of 2021. The last record was set in the second quarter of 2017, when Apple spent $2.2 million on lobbying services.
Google spent $2.96 million in the first three months of 2022. That's a 34% increase over the previous quarter, but it's the same amount the company spent in the first quarter of 2021.
Microsoft Corp. said that it spent $2.5 million on lobbying in the first quarter, an increase of 2.8% over the previous quarter.
Amazon spent just under $5 million, up 1% from the previous quarter.
Meta spent $5.39 million on lobbying in the first quarter, down slightly from the previous quarter.
The increase in lobbying costs are related to U.S. antitrust bills.
@kod_ae
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📉 The Loss is Not a Hindrance //
Snap investors were not frightened by the $360 million loss. They continue to invest amid the growth in the number of daily active users.
@kod_ae
Snap investors were not frightened by the $360 million loss. They continue to invest amid the growth in the number of daily active users.
@kod_ae
Durov's Code
Snap Inc. Publishes First Quarter 2022 Financial Results
Snap's first-quarter loss was bigger than a year ago and more than Wall Street expected.
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👀 An Unnoticed Revolution //
Telegram's latest update has received support for web bots, which open up an incredible amount of opportunities for developers and businesses.
Lobushkin shares his thoughts on revolutionary new bots that could change users' lives.
@kod_ae x @lobushkin
Telegram's latest update has received support for web bots, which open up an incredible amount of opportunities for developers and businesses.
Lobushkin shares his thoughts on revolutionary new bots that could change users' lives.
@kod_ae x @lobushkin
Durov's Code
Why Telegram Bot Update is a Real Game Changer?
Attentive Telegram users know that the latest update has made a quiet revolution, not only within the messenger, but in the network as a whole
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💳 Using Money To Become More Convenient //
The functionality of Emirati super app Careem expanded. Users can now use a digital wallet to pay for services and goods
@kod_ae
The functionality of Emirati super app Careem expanded. Users can now use a digital wallet to pay for services and goods
@kod_ae
Durov's Code
Super App Careem Introduced a Digital Wallet
Careem, a super app created in the UAE, has launched a digital wallet for storing money, allowing users in the UAE to request and transfer funds from peer to peer
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Saudi Arabia tries to revive NEOM project //
Saudi Arabia’s Public Investment Fund organised a series of showcase events to attract new investments for its major project NEOM. More than 700 US business, sustainability, and investment leaders attended the events to highlight that aimed to highlight the development of the project. Last year a similar set of events took place in London.
The NEOM megaproject aims to transform the northwest Red Sea coast of Saudi Arabia into a high-tech hub. It implies the construction of a futuristic smart city that will be carbon free.
The project faced grave financing difficulties during the pandemic and now, with all prices high, the Kingdom tries to revive the idea. The project has an estimated cost of $500 bln.
@kod_ae
Saudi Arabia’s Public Investment Fund organised a series of showcase events to attract new investments for its major project NEOM. More than 700 US business, sustainability, and investment leaders attended the events to highlight that aimed to highlight the development of the project. Last year a similar set of events took place in London.
The NEOM megaproject aims to transform the northwest Red Sea coast of Saudi Arabia into a high-tech hub. It implies the construction of a futuristic smart city that will be carbon free.
The project faced grave financing difficulties during the pandemic and now, with all prices high, the Kingdom tries to revive the idea. The project has an estimated cost of $500 bln.
@kod_ae
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🧘♂️ Obsessed with Metaverse //
Facebook employees are perplexed by Mark Zuckerberg's excessive preoccupation with metaverse.
@kod_ae
Facebook employees are perplexed by Mark Zuckerberg's excessive preoccupation with metaverse.
@kod_ae
Durov's Code
Facebook Employees Complain That the Thought of Creating a Metaverse Has too Consumed Mark Zuckerberg
Mark Zuckerberg has become obsessed with the idea of creating a metaverse, which perplexes his colleagues, according to several Facebook employees.
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📱 5G Gains Momentum //
du offers a 5G network service for UAE residents. ‘Home Wireless’ subscribers will be the first to get instant access to 5G in their homes. 5G Home Wireless is a plug-and-play service that also includes unlimited data and OTT streaming capabilities. In addition, users will be offered a 12-month subscription to Amazon Prime, OSN Streaming and beIN Connect.
The package starts at Dh299 per month plus 5 percent VAT.
The 5G subscriber base in the UAE is growing day by day as the number of 5G-enabled devices users increases.
@kod_ae
du offers a 5G network service for UAE residents. ‘Home Wireless’ subscribers will be the first to get instant access to 5G in their homes. 5G Home Wireless is a plug-and-play service that also includes unlimited data and OTT streaming capabilities. In addition, users will be offered a 12-month subscription to Amazon Prime, OSN Streaming and beIN Connect.
The package starts at Dh299 per month plus 5 percent VAT.
The 5G subscriber base in the UAE is growing day by day as the number of 5G-enabled devices users increases.
@kod_ae
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🏎 Buy NFT – Get a Real Supercar //
For the first time, NFT buyers can temporarily own a supercar.
@kod_ae
For the first time, NFT buyers can temporarily own a supercar.
@kod_ae
Durov's Code
NFT Allows to Rent Supercars
Distributed supercar ownership NFT provoked a furore in Dubai
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❌ New Restrictions on the Activities of Companies in the EU //
After prolonged negotiations, a new law aimed at tackling the problem of illegal content was passed.
@kod_ae
After prolonged negotiations, a new law aimed at tackling the problem of illegal content was passed.
@kod_ae
Durov's Code
New Rules for Companies in the European Union
New European Union Internet rules compel Alphabet (GOOGL.O), unit Google, Meta (FB.O) and other major online platforms to curb illegal content.
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👟 Nike’s First Sneaker NFT //
The first collection of NFT sneakers that can be customised came out.
@kod_ae
The first collection of NFT sneakers that can be customised came out.
@kod_ae
Durov's Code
Nike Introduced Its First Sneaker NFT Collection
Nike and RTFKT have officially unveiled the Nike CryptoKicks project, which they say is "the future of sneakers".
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😎 Create Your Own Avatar //
The beta version of Telegram for macOS has an interesting function – the ability to create avatars from animated emoji, stickers, and text. We show you how it works.
@d_code × @kod_ae
The beta version of Telegram for macOS has an interesting function – the ability to create avatars from animated emoji, stickers, and text. We show you how it works.
@d_code × @kod_ae
Durov's Code
Telegram Beta for macOS Gets Avatar Builder
Currently, the function is not very stable.
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🪡 AI helps Tailor a Kandura //
Emirati start-up CanCan has developed an innovative way for consumers to purchase kanduras.
@kod_ae
Emirati start-up CanCan has developed an innovative way for consumers to purchase kanduras.
@kod_ae
Durov's Code
World's First Artificial Intelligence Kandura Tailor Service
You need a mobile phone and four days to get a kandura
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📈 Emerging Tech Sandbox //
In Saudi Arabia, the Communications and Information Technology Commission (CITC) has launched the sandbox that allows emerging technology service providers to test their products safely. It will enable providers to create innovative solutions and services that foster digital transformation across all sectors. In addition, the sandbox is designed to attract local and international investment.
Saudi Arabia is seeking to diversify its economy away from oil as part of its Vision 2030.
@kod_ae
In Saudi Arabia, the Communications and Information Technology Commission (CITC) has launched the sandbox that allows emerging technology service providers to test their products safely. It will enable providers to create innovative solutions and services that foster digital transformation across all sectors. In addition, the sandbox is designed to attract local and international investment.
Saudi Arabia is seeking to diversify its economy away from oil as part of its Vision 2030.
@kod_ae
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😱 Saudi princes run out of money //
According to WSJ, Saudi princes that used to enjoy lavish lifestyles are now running out of cash. They have already sold $600 mln worth of real estate, yachts and artwork in order to pay their property bills, taxes and staff salaries.
This is due to the policy of crown prince Mohammed bin Salman, de-facto ruler of the kingdom, that is cutting benefits members of the royal family used to get from the state. For many years they have been accumulating billions of dollars through oil and real estate sales as well as business deals involving the government.
Today not only does the crown prince try to sideline his political adversaries inside the royal family, but he also aims to undermine their financial well-being.
@kod_ae
According to WSJ, Saudi princes that used to enjoy lavish lifestyles are now running out of cash. They have already sold $600 mln worth of real estate, yachts and artwork in order to pay their property bills, taxes and staff salaries.
This is due to the policy of crown prince Mohammed bin Salman, de-facto ruler of the kingdom, that is cutting benefits members of the royal family used to get from the state. For many years they have been accumulating billions of dollars through oil and real estate sales as well as business deals involving the government.
Today not only does the crown prince try to sideline his political adversaries inside the royal family, but he also aims to undermine their financial well-being.
@kod_ae
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