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Naspers reveals $1.4 billion operating loss
Naspers Limited has released its financial results for the year that ended on the 31st of March 2023, and they have revealed a company struggling to create shareholder value. The revenue from continuing operations increased from $6.3 billion to $6.8 billion, but unfortunately the good news ended there. Naspers’ operating loss grew bigger from $985
Meta adds subscription services for VR headsets
Meta Platforms has launched a subscription-based service called Meta Quest+, for its virtual reality headsets to shape a nascent but high-investment market. Taking to the broadcast channel on social media app Instagram, the CEO, Mark Zuckerberg revealed that the Meta Quest+ subscription will be available from Monday at US$7.99/month, or $59.99 annually, for its Quest
Fidelity comes into defence for R250 million Andre de Ruyter security contract
The security firm, has come into come into defence for a contract that Eskom awarded during Andre de Ruyter’s time as CEO, revealing that the contract was only worth R250 million and it did not include any intelligence services. Initially, the allegations were raised by The Association of Private Security Owners of South Africa (Tapsosa)
Intel on restructuring its manufacturing business
The technology centre, Intel recently revealed that it has restructuring processes underway for its manufacturing business. It is set to work like a separate unit and will begin to generate a margin, however, the company gave no clear timeline on when it will start scaling up, sending the chip maker’s shares down about 5%. Intel
Smart money moves to make as a young professional
To be young and carefree, they say. But nothing comes close to understanding financial literacy at an earlier age because it helps develop healthy lifelong financial habits. Making smart money moves when you are a young professional will benefit you significantly as you navigate through financial freedom and wealth creation. Ester Ochse, Product Head at
YouTube tests an online gaming offering
The video streaming platform, YouTube is currently running tests internally on a product for playing online games. This according to the reports by the Wall Street Journal, came through and email that was sent to the employees at parent company Google. The company has an open visitation for its employees to start testing the new
Edward Kieswetter, SARS Commissioner Elected Chairperson Of The World Customs Organisation
The Commissioner of the South African Revenue Service (SARS), Edward Kieswetter has been elected as Chairperson of the World Customs Organisation (WCO). The election happened on the 24th June 2023 at the organisation’s Council session at the WCO headquarters in Brussels, Belgium. With 185 members, the WCO has three-quarters of which are developing countries and
The captivating world of XMAGE: Uncovering remarkable contributions to HUAWEI’s trailblazing mobile imaging technologies
Experience the thrill of HUAWEI’s latest breakthrough in smartphone camera technology with the highly impressive HUAWEI P60 Pro. Unveiling a world of possibilities, HUAWEI has once again redefined the boundaries of mobile photography. Behind this remarkable achievement lies a well-kept secret, as the brand's unwavering commitment to excellence stems from a transformative shift in their
EU 'ENFORCER' VISITS TWITTER AND META AS NEW RULES LOOM
The EU commissioner in charge of enforcing Europe's new landmark rules on online content, Thierry Breton, is scheduled to visit San Francisco on Thursday to ensure that major platforms are prepared. This visit comes shortly before the European Union's Digital Service Act (DSA) takes full effect for prominent platforms like Facebook, Instagram (both owned by
South African taxi industry needs technological innovation to enhance the economy
The taxi industry has been the biggest creator of black entrepreneurs for decades and currently experiencing existential challenges. Contrary to popular opinion, the taxi industry is still the most reliable and preferred mode of transport for 60% of commuters. The reason for this preference stems from the simple fact that a taxi goes to more
AUSTRALIA GIVES TWITTER 28 DAYS TO CLEAN UP 'TOXICITY AND HATE'
Australia's internet safety watchdog has issued a threat to fine Twitter for its failure to address online abuse, attributing a surge in "toxicity and hate" to Elon Musk's takeover of the platform. Julie Inman Grant, the e-safety commissioner and a former Twitter employee revealed that one in three complaints about online hate speech in Australia
MR PRICE'S SLOWER APPROACH TO LOAD SHEDDING PREPAREDNESS PROVES COSTLY IN 2023
The retailer suffers a significant revenue loss due to inadequate backup power coverage during increased load shedding. Mr Price, a renowned value retailer, faced the repercussions of its somewhat slower approach to insulating itself from the threat of load shedding in 2023. On Thursday, the company disclosed that having backup power available in just over
NEW FEATURE ON WHATSAPP: YOU CAN NOW SILENCE UNKNOWN CALLERS
WhatsApp has introduced a new privacy feature called "Silence unknown callers," which enables users to mute calls from unfamiliar numbers. This feature grants users greater control over incoming calls by automatically filtering out spam, scams, and calls from unknown individuals, enhancing overall protection. With this feature, incoming calls from unknown numbers will not ring on
GROWTH POINT REPORTS MIXED PERFORMANCE AS LOAD SHEDDING WEIGHS, V&A WATERFRONT IS BOOMING
Growthpoint, South Africa's largest listed property group and co-owner of the V&A Waterfront, announced on Thursday that load shedding, a scheduled electricity cut, had contributed to a mixed performance in its diverse portfolio during the nine months ending in March. The company continued to experience double-digit rental reversions, but it was encouraged by positive leasing
IHS SEEKS JPMORGAN'S ADVICE AS MANAGEMENT FEARS HOSTILE TAKEOVER BY MTN, WENDEL
According to sources familiar with the matter, New York-listed IHS Towers is currently seeking advice from JPMorgan Chase & Co. regarding an ongoing dispute with its largest shareholders regarding the company's management. The concern stems from the fear that proposed governance changes by MTN and French investment company Wendel, who collectively hold approximately 45% of
GOOGLE’S NEW TRY-ON FEATURE LETS YOU TRY ON CLOTHES VIRTUALLY, BUT IT’S NOT IN SA YET
It's often challenging to envision how clothes will look on you before making a purchase. However, Google has introduced a solution to alleviate this concern by bringing the fitting room experience directly to your device. Through Virtual try-on, Google enables online shoppers to see how clothes would appear on a variety of real models, allowing
South Africa could be removed from US trade agreement
Ebrahim Patel who is the Minister of Trade, Industry, and Competition recently warned Parliament that there is a possibility that South Africa could be “graduated” out of a preferential trade agreement with the United States as the country has gained enough from the agreement. Patel revealed that in terms of creating the Africa Growth and
Kenya set to Become the ‘Singapore of Africa’
Kenya is the most promising rising country in sub-Saharan Africa currently, with the economic and political forces converging to put the continent’s seventh-largest nation in a relatively favourable position. At this moment, Africa is the fastest-growing continent and it is expected to account for one-quarter of the world’s population by year 2050. What that means
South Africa launches green hydrogen in partnership with Netherlands and Denmark
The government of South Africa Netherlands and Denmark, have come together to launch a US$1-billion green hydrogen fund to help kick-start an industry seen as critical to the country’s decarbonisation efforts. The energy transition plan for South Africa involves setting up an ecosystem and export hub for green hydrogen, which comes by using renewable energy
VEI SA Winner Vuleka: A Platform That Connects Large Wholesalers with Informal Businesses
Visa Everywhere Initiative, a global open innovation competition that sees startups pitch their innovative solutions to solve tomorrow’s payment and commerce challenges announced their South African winner. The event will took place in Cape Town, on the 22nd of June where VEI in South Africa saw an in-person competition, where 5 fintech finalists pitched their startup