Author: Emirates Insight

Global logistics software company WiseTech Global will slash about 2000 jobs as it leans into artificial intelligence, as fears around AI disruption loom over local technology stocks. The cuts, which amount to more than a quarter of the group’s 7000 headcount spread across 40 countries, will be focused on engineers writing code, chief executive Zubin Appoo said. “I am prepared to say this clearly, the era of manually writing code as the core act of engineering is over,” Mr Appoo told an earnings briefing on Wednesday. The announcement came as WiseTech grew its first-half revenue by 76% to $US672 million…

e& Carrier & Wholesale (CWS) has announced the successful launch of its 5G Standalone (5G SA) network, setting a new standard for global connectivity with advanced roaming capabilities and exclusive Security Edge Protection Proxy (SEPP) integration via its IPX platform. This achievement positions e& Carrier & Wholesale as the advance provider in the region offering SEPP facilities to Mobile Network Operators (MNOs) from its Point of Presence (PoP). The new 5G SA architecture, operating independently of legacy networks, delivers ultra-fast speeds up to 100 times faster than 4G, with unparalleled reliability and ultra-low latency. By enabling seamless 5G SA roaming…

Dubai is known for luxury tourism, but its desert landscapes offer unique opportunities for eco-adventure. The city’s leadership recognizes that sustainability tourism must highlight natural heritage as well as modern innovation. Desert tourism is being reimagined to combine adventure, culture, and environmental responsibility. Eco-adventure includes dune safaris, camel treks and stargazing experiences that connect visitors to the desert’s beauty. Camps are adopting renewable energy, water recycling, and eco-friendly materials, ensuring minimal impacts on environment. Local traditions, such as Bedouin hospitality and storytelling are integrated into experiences preserving cultural heritage. Innovation enhances desert tourism. Drons and sensors monitor wildlife, ensuring conservation.…

Amazon.com, Inc. (NASDAQ:AMZN) is one of Goldman Sachs’s top growth stock picks. On February 20, Moody’s Ratings revised its outlook on Amazon.com, Inc. (NASDAQ:AMZN) to stable from positive, while affirming the company’s A1 senior unsecured rating. Amazon (AMZN) Navigates Investment Cycle and Strategic Developments The agency cited Amazon’s dominant market position and brand strength but noted that its decision to boost capital spending by over 50%, to nearly $200 billion, will weigh on cash generation. The investment cycle is aimed at expanding AWS and meeting rising AI demand, but Moody’s expects Amazon will need external funding to support the scale…

The suit filed by Terraform Labs’ bankruptcy administrator seeks damages tied to alleged pre-collapse positioning. Terraform Labs’ bankruptcy administrator has filed a lawsuit against Jane Street, alleging the company used insider information to profit from and accelerate the collapse of Terra-Luna. The lawsuit claims that these trades came at the expense of investors and creditors who lost billions in the crash. Jane Street Denies Accusations A Wall Street Journal (WSJ) report reveals that Todd Snyder, the court-appointed plan administrator overseeing Terraform’s wind-down, is seeking damages from Jane Street, its co-founder Robert Granieri, and employees Bryce Pratt and Michael Huang.…

Online design giant Canva is bolting two more startups onto the mothership, Mango.AI and Cavalry, from the US and UK respectively, as well as adding a “chief algorithms officer” to its C-suite. The acquisitions take the number of companies Canva’s acquired in the last two years to five, following on from Affinity and Leonardo in 2024, and MagicBrief last year. Mango.ai is 10-month-old San Francisco marketing algorithm startup that was still in stealth mode. It was cofounded in May last year by Fable CTO and former Netfix data science VP Nirmal Govind, and Vinith Misra, former Roblox and Netflix machine…

Pressure on Blue Owl Capital (OWL) isn’t letting up after an asset sale meant to calm investor worries last week sparked new concern from top government officials about the $1.8 trillion private credit industry. “We are concerned,” Treasury Secretary Scott Bessent said Friday when asked about the growth of Blue Owl and other private lenders over recent years. “If there is something rotten, it is not going to be handed to the individual investors,” Bessent said. Last Wednesday, Blue Owl said it sold $1.4 billion in loans and lending commitments from three of its funds, with some proceeds used to…

The AI scare trade is taking no prisoners. And I mean no prisoners. IBM (IBM) shares sold off to the tune of 13.5% on Monday after Anthropic renewed fears that AI code assistants could disrupt legacy COBOL (Common Business-Oriented Language) workloads. Anthropic said in its new blog post that hundreds of billions of lines of COBOL remain in daily production across finance, airlines, and government. It argued that AI can now automate analysis tasks that historically made modernization slow and costly. COBOL has a starring role in mission critical infrastructure such as payments and financial systems, areas where IBM has…

The primary cryptocurrency experienced another substantial decline over the past 24 hours, potentially due to geopolitical tensions among other factors. However, one important indicator signals that bulls might soon regain control. First Time in History As of this writing, Bitcoin trades around $63,000, down 5% on a daily basis, while its market capitalization has fallen below $1.3 trillion. Despite the grim reality, X user il Capo Of Crypto spotted an interesting development. The analyst, who has almost 1 million followers, said the asset’s Relative Strength Index (RSI) has reached an oversold zone on a 10-day scale. Moreover, they argued that…

When top federal government staff were getting ready to meet with OpenAI’s leading lobbyists in June last year, they steeled themselves for some big asks. They expected the makers of ChatGPT to pitch for Australian government investment in American infrastructure and the rolling back of our stricter approach to copyright and AI regulation — or risk missing out on all the spoils of the AI boom. Internal government documents obtained via freedom of information requests show how the government prepared and responded to OpenAI’s early lobbying efforts in Australia. Revealed for the first time by Crikey, these engagements go beyond what was…