Here’s the latest AI news from today’s Algorithm Bulletin. You can sign up for the newsletter here. Google announced that it will add several new features to the Arabic “part” form, including the ability to use images in requests. Tesla’s CEO, Elon Musk, denied the validity of a report published by the American newspaper “The Wall Street Journal” that the company is in talks to build a factory in Saudi Arabia. Should you invest in ARM or NVIDIA? An expert reveals what’s best. Artificial intelligence startup Bird Buddy has launched a new feature on its mobile app called Bird Buddy Explore, which allows anyone to access photo and video feeds…
Economy
Why is British BP backing away from plans to cut oil and gas production? (a statement)
British oil giant BP is backing away from a policy of reducing oil and gas production, instead adopting an investment approach that relies on a balance of fossil fuel investments and energy transition projects.
A significant rise in global energy prices has necessitated investment in oil and gas production to avoid these sharp price hikes, a senior official of a British company said. . ReutersOn Saturday 26th August (2023).
The company official pointed to the need to do both things at the same time, marking a reversal in the direction of British oil major BP, which three years ago announced its intention to reduce its production of hydrocarbons by 40% as part of its plan. In the current decade, the special energy seen through the site published by the site CNN BusinessAugust (2020).
Balanced investment
Bernard Looney, CEO of British oil major “BP” in New Delhi, said global gas prices have increased 7 times compared to last year’s (2022) prices.
“For this, the world needs to invest in oil and gas production,” he said, according to reports monitored by the Special Energy Platform.
A British company official explained that the Russian invasion of Ukraine has led to a 3% shortfall in global gas supplies. This forced countries to increase spending on securing energy supplies and switch to coal.
“By investing in oil and gas projects – today – responsibly, we must, at the same time, invest in accelerating the energy transition,” said Bernard Looney at the G20 Business20 conference.
In a related context, the International Energy Agency expects production to reach a record level of 2.2 million barrels per day in the current year (2023). Dependent on oil and gas.
“A smooth transition to clean energy requires investment in today’s energy system,” which still relies primarily on oil and gas, he continued.
and achieved Business results British oil major BP posted a net profit of $4.96 billion in the first quarter of 2023, and $4.8 billion in the fourth quarter of last year (2022).
Eliminate the reduction in oil production
The reports come in confirmation of earlier statements by the company’s CEO Bernard Looney – during a press interview – that he intends to abandon its plans to cut oil and gas production in the coming years. leading to higher carbon emissions than expected.
The change appears to be a reflection of changes in the geopolitical environment, caused at least in part by the war in Ukraine, which has led to higher oil prices, particularly natural gas, according to an article published by the newspaper. The New York Times American.
The comments came as British oil major BP reported annual profit of $27.7 billion for 2022, double the adjusted profit for 2021, according to figures tracked by the specialist energy platform.
With the huge profits achieved by oil and gas companies, the British company says it wants to increase investments in fossil fuel production by about $1 billion annually for the rest of the current decade, in addition to its previously announced plans.
“The conversation 3 or 4 years ago was more or less about clean energy, low-carbon energy, but today there’s a lot of conversation about energy security and energy affordability,” he added.
Analysts say the change in Looney’s statements could signal a major shift in direction for BP and other European oil majors.
British Petroleum and Energy Transition
British oil giant BP wants to invest 40% of its capital in the middle of the current decade and 50% by the end of the decade at a rate between $55 billion and $65 billion, Bernard Looney said.
It is worth noting that the British company is investing in clean energy projects along with its Indian partner Reliance Industries Ltd. In these projects, up from 750 charging points in January (2023), 3,000 charging points for electric cars have been installed so far. And both the companies have installed 300. battery transfer station.
Regarding investment in the energy transition sector, Looney said the energy transition must be organized; This is despite global efforts to contain the rising emission levels since the 2015 Paris Climate Change Conference.
It is worth noting that the investment arm of British oil giant BP has bought a stake in electric car service “BluSmart”, a growing company for passenger transportation.
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Neuralink, the biotechnology start-up trying to implant chips in the human brain under the watchful eye of entrepreneur Elon Musk, announced Tuesday that it will begin recruiting for its first human clinical trial. .CNNThis coincided with a publication by the “Wired” website, which claimed that the American billionaire had “misled” his followers about killing monkeys during clinical trials of the same chip.
After receiving approval from an independent review board, the company said Neuralink has decided to begin offering operations to implant its chips into the brains of stroke victims as part of the “PRIME” study, which stands for “PRIME.” Brain-Computer Interface, which means: “A precise, robotically implanted brain-computer interface.
The tests seek to evaluate the safety and functionality of the implanted chip.
Participating patients are expected to have a chip surgically implanted in the part of the brain that controls movement commands. The chip, installed by the robot, will then record and transmit brain signals to an app on a smart device, which seeks to “give people the ability to control a computer cursor or keyboard using only their thoughts.” Written by the company.
People with quadriplegia due to cervical spinal cord injury or amyotrophic lateral sclerosis (ALS) may be eligible for the study, which will last six years, including 18 months of home and clinic visits and five years of follow-up visits. Interested candidates can register. In the patient registry on the Neuralink website. .
Musk has spent the past five years working toward Neuralink’s goal of using chips to connect human brains to computers, but the company has so far only tested them on animals. The company faced scrutiny in 2022 after a monkey died while testing the program as part of an effort to get animals to play video games with their thoughts, according to the network.
Allegations of ‘dead monkeys’
An investigation conducted by the website revealedWiredA technology expert said on Wednesday that Musk had said none of the primate species used in the chip tests had died, and the investigation has called for US officials to investigate Musk’s claims.
The website indicated that there were “new allegations of possible security fraud” related to Musk’s statements following the deaths of monkeys participating in experiments for the company “Neuralink”.
That said the site Several letters sent by the Medical Ethics Committee The US Securities and Exchange Commission’s (SEC) “Physicians’ Panel for Responsible Medicine” called on the agency to investigate Musk’s allegations that macaques died during experiments because they suffered fatal diseases, not brain damage. pieces.
However, veterinarian records show that the monkeys died from complications following the implantation of the brain chips, the website said, citing letters sent to the committee’s authority.
Kasthuri confirmed that the monkeys had died… Tweet through his VX accountOn September 10th, he owned, in a reply to a user, where he denied that the dead animals were caused by a “Neuralink chip” and said researchers were “interested in using animals on the brink.” Death.”
At the same time, in a presentation to his company last year, Musk confirmed that Neuralink’s experiments on animals were never for “research” reasons, but rather to ensure that unified scientific principles were proven. “We are very careful.”
But public records it reviewed, as well as interviews with a former NeuraLink employee and a researcher who now works at the Primate Species Center at the University of California, Davis, “paint a completely different picture” of what’s going on in NeuraLink’s animal experiments, Wired noted. .
It noted that the public documents include veterinary records, made public for the first time last year, that “contain gruesome images of the suffering of up to 12 animals of Neuraling’s flagship species, all of whom had to be euthanized.”
Wired noted that the records “could form the basis of a possible SEC investigation into Musk’s comments about NeuraLink,” which has faced multiple federal investigations as the company moves toward its goal of introducing the first commercially available brain-computer interface for humans.
The U.S. authority declined Wired’s request for comment regarding the group’s ethics messages, and Neuralink did not respond to Wired’s questions about Musk’s comments or the group’s allegations.
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By the end of yesterday’s trade, local bourses attracted liquidity of about 1.75 billion dirhams, while the market capitalization of the Dubai Financial Market gained more than 12.14 billion dirhams, surpassing its highest level in eight years, supported by gains. Leading stocks and “Banks” in “Real Estate” sectors.
After 410.29 million shares were traded by executing more than 24.38 thousand transactions, liquidity was distributed in the Abu Dhabi Securities Market of 986.8 million dirhams and 768.32 million dirhams in the Dubai Financial Market.
The Dubai Financial Market General Index rose 1.56%, or 63.68 points, to end at 4138.4 points, its highest level since August 2015, and the Abu Dhabi General Market Index (FADGI) edged up 0.003%. 9822.56 points level.
The Dubai financial market’s performance strengthened, with shares of “Emaar Properties” rising 5.2% to close at a 9-year high, and shares of “Emirates NBD” rising 3.9% and shares of “Emaar Development” up around 5.5%. , and “Dubai Islamic” shares. 0.7%.
Emaar Properties shares topped the performance, attracting more than Dh337.3 million in liquidity.
Responding to this, General Manager of Al Ansari Financial Services Company, Abdul Qader Shad told “Emirates Today”: “It can be said that the financial markets were remarkable yesterday due to the rise of the Dubai Financial Market. Over the past 8 years, Emaar Properties has been heavily supported by the company’s share price rise.” A rally in shares of ADNOC Logistics supported the Abu Dhabi securities market yesterday and pushed it to close in the green zone. 4%, and ADNOC Drilling 1.84%.
Aaron Leslie John, Chief Market Analyst, Century Financial, said, “The Dubai Financial Market Index hit an 8-year high in early trade and crossed 4100 points, supported by gains in leading stocks. Light of the real estate boom the emirate is witnessing.” “Confidence in the country’s economic growth in general has increased according to recently announced indicators.”
In the same context, equity investment expert Mahmoud Atta pointed out that one of the most important reasons for improving the gains of the Dubai financial market is that listed companies have recorded consistent and good profits compared to stock markets in the region. The banking and real estate sectors, which are characterized by strong financial and operational fundamentals, are attractive stocks for portfolio investors in addition to foreign investment funds.
Organizing World Investors Conference in Singapore
The Dubai Financial Market yesterday announced the third session of the 2023 Global Investors Conference in Singapore, giving investors an opportunity to meet senior representatives of the Dubai market in Singapore.
The conference will be held on September 27 and 28 in collaboration with Goldman Sachs within the framework of the Singapore Corporate Days 2023 initiative, the market said in a statement, confirming Dubai Financial Market’s commitment to expanding the scope of global communication and interaction. Investors, to demonstrate the strength of the capital markets in the Emirate of Dubai.
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September 20, 2023
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