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Going To sell stock in IPO having Worth About $10 billion – Uber

Uber to sell stock in IPO having Worth About $10 billion

The officials of Uber Technologies decided they are looking forward to selling about 10 billion dollars worthy stock in its initial public offering. Furthermore, they said that they would make registrations of the offerings public very soon. This size of IPO would make Uber one of the giant technology IPOs of prolonging time and most significant since that of Chinese Alibaba Group Holding (e-commerce) in 2014. Sources said that due to the poor performance of minor competitor Lyft’s shares, Uber is planning a valuation of between 90 billion dollars and 100 billion dollars. However, the investment bankers formerly expressed Uber it could worth as greater as 120 billion dollars.

A new 46-Story Tower at Times Square to Build

In the recent past, Uber valued at 76 billion dollars in the private fundraising market. One of the sources said that maximum sold of shares issued by the company, whereas a lesser part owned the investors of Uber cashing out. Uber is also seeking to make its registration of IPO with Exchange Commission and the United States Securities available publically on Thursday. In addition, it will kick of roadshow of its investors during the week of 29 April, placing it on the way to price its IPO and start trading on Stock Exchange of New York in the start of the May. The strategies still focus on modifying and marketing conditions and request not to identify due to the issue is confidential – sources continued. An Uber representative refused to comment on this matter.

Operations of Uber in how Many Countries?

Uber is operating in over seventy countries. Along with ride-hailing, their services include scooter & bike rentals, food delivery, freight hauling, and self-driving car division which is too much expensive. Dara Khosrowshahi, the Chief Executive of Uber, received the task with undoubted investors during the IPO roadshow that he changed the business practices and the culture of the company successfully after no. of embarrassing scandals during the last two years. Scandals like allegations related to sexual harassment, use of illegal software to dodge authorities, a massive data breach that regulators concealed and also the allegations of overseas bribery.

Read Also: World’s Largest Gaming Chinese Company Tencent Start Testing Gaming Cloud

Last year the revenue of the Uber was 11.3 billion dollars whereas ride’s gross bookings were 50 billion dollars. However, the firm lost about 3.3 billion dollars exclusive of profit from the overseas business unit’s sales in Southeast Asia and Russia.

CEO of Microsoft do weekly Meetings with Seniors to Analyze AI Projects

CEO of Microsoft do weekly Meetings with top execs to Analyze AI Projects

Microsoft’s CEO Satya Nadella meets with his top execs every week to discuss the growing number of AI projects of the company. Kevin Scott, the chief technology Officer of Microsoft, told CNBC that meetings called AI 365 started more than one year ago and it shows Microsoft’s increasing trend towards Artificial Intelligence across the portfolio of product.

Every Week, usually on Thursday Nadella along his upper lieutenants gathers to converse the growing numbers of the company’s AI projects. In addition to the meetings, it is also a longstanding get-together of the senior staff on every Friday. Scot said that whenever there are obstacles and hurdles in the system, the employees can express that they cannot do that thing. And during this discussions, the presence of higher rank staff reflects that Microsoft can able to resolve the issues so rapidly.

Artificial Intelligence is among one of the hottest trends in tech and the tech giant companies like Facebook, Google and Amazon are focusing on it. These all technology companies emphasize to use Artificial Intelligence in their internal along with those products they sell to their clients. The system of AI run at the backend of many products of Microsoft as well as in the Bing Search Engine. The search engine (Bing) uses AI to catch images comprising of similar objects. Likewise, the Android Excel app also depend on Intelligence to convert the data into the photograph page into a spreadsheet that one can edit and populate. Cortana voice assistant also uses AI to figure out which computers should have to receive the Windows 10 latest updates first.

Potential Misuse of Artificial Intelligence

Together with the popularity and benefits of Artificial Intelligence there is also growing controversy that the potential misuse of the technology also increased. However, to overcome a particular problem, engineers are developing those algorithms with the help of which machines can perform their own training and take decisions independently without the involvement of human. In the latest yearly report, Microsoft takes the problem serious enough to warn their investors about it.

The company said that might the Artificial Intelligence algorithms flawed. Datasets may contain biased info, or they may be insufficient. Controversial or inappropriate data practices by Microsoft or others could spoil the acceptance of Artificial Intelligence solutions. Military also use AI as in October 2018, several employees of Microsoft wrote an open letter to their firm and expressed their concerns about a ten billion dollars project to develop cloud services for the Defense Department. It’s a question how the workers or developers who create and maintain the services come to know whether their work used for surveillance, aid profiling or innocent killing.

Pakistan’s Foreign Minister Shah Mehmood accused India of Planning New Attacks

Foreign Ministry of Pakistan accused India of Planning New Attacks

Foreign Minister of Pakistan Shah Mehmood Qureshi said that Pakistan reliable intelligence gives them report that India was again planning to attack their territory in the coming week. The ministry accused their neighbor country as preposterous and irresponsible. In his remarks while on PTV news, Qureshi said that India planning a new attack on Pakistan from 16 April to 20 April. Foreign Minister said that Prime Minister of India Modi gives green signal to his armed forces to attack targets in Pakistan and Kashmir.

According to Shah Mehmood, Modi gives a full hand to his forces to carry out action against Pakistan. Whereas, Indian armed forces head said that they finalized the targets and that are of military nature. In addition, not necessary that those targets just limited to the Kashmir land. Thus, there is going a new talk of aggression between Indian armed forces and their Prime minister and the latest order to attack Pakistani targets.

Our Airstrike Hit Key Militant Camp in Pakistan – India

Indian Statement about Qureshi Claim

However, Indian External Affairs Minister stated that Pakistan’s claims are totally baseless and he accused Pakistani Foreign Minister that he is backing the Pakistan based militants to attack in India. Raveesh Kumar, the Indian spokesperson, said that India openly discards Pakistan’s Foreign Minister’s statement of war hysteria in the region. This statement seems that Pakistan is calling the Pakistani militants groups to attack India. He also referred the Indian occupied Kashmir’s February attack in which 40 Indian soldiers killed in a bomb attack. In recent past years, the Pulwama attack one of the deadly attacks on Indian soldiers that India referred to Pakistan’s involvement. Whereas, Pakistani officials denied any type of relationship in that bombing attack.

Read Also: Pakistan’s Air force Hit Down two Indian Aircraft in Kashmir

Shah Mehmood Qureshi said that in Indian occupied Kashmir another incident like Pulwama attacks could take place aiming to produce diplomatic pressure on Pakistan. Another reason for those attacks before general elections of India could be to justify the Indian military action in Pakistan.

Through Imposing Sharia Law, Brunei’s Sultan may Clean up his Family Image

Imposing Sharia Law, Brunei’s Sultan may Clean up his Family Image

Sultan of Brunei was famous as a godfather of excess for decades and stayed the wealthiest person of the world for several years. However now, at the age of seventy-two, the ex-British protectorate and Brunei’s Sultan is on the hit list of many activist and governments all over the world due to his introduction of Sharia Laws in his country. And these laws include the severe punishments like stoning death for homosexuality or adultery and amputation of limbs for the act of theft.

On the other side, the critics said that Sultan’s this move of implementing Sharia Penal Code is a symbol of the growing impact of conservative laws around Southeast Asia. The Brunei Project’s founder Matthew Woolfe said that now the sultan is getting in years and he has not a clean reputation referred to his family. Also, few people assuming the implementation of these laws as a way to wash out the lousy family impact and creating his legacy.

Sultan of Brunei while Addressing to his Nation

Hassanal Bolkiah, the Sultan of Brunei, addressed his people that he wants to grow stronger, practical and visible Islamic teachings in the country. He added that this Islamic system guarantees and preserves the rights of all the human beings irrespective of faith and respect.

LGBT Community of Brunei flees Latest Stoning Laws in Country

 History and Lifestyle of Hassanal Bolkiah

Whereas, this message seems at odds with the formal living styles of the sultan and his brother Prince Jefri Bolkiah. During the time of the 1980s and 1990s, both these brothers have a reputation that they used to throw the lavish parties, running harem at their fort and going on multimillion-dollar spending sprees. They are owners of luxury hotels in Paris, New York, and London. Jefri is also the owner of a luxury giant yacht called Tits with two small vessels named Nipple 1 & Nipple 2.

Read Also: Brunei’s Anti-gay Law will go to Effect in Current Week

An associate political science professor at John Cabot University and Southeast Asia expert, Bridget Welsh said that Brunei’s Sultan and his brother Jefri recognized for their harems, their sexual exploits and their excesses in terms of cars purchasing. The staff of the palace told litigators that they attend nightly functions and parties at nightclubs where Bolkiah, his brother, and their male friends would have authority to select their favorite women for sexual intercourse.

But both brothers denied all the allegations against them. Eventually, the United States court granted the immunity to the brothers from legal action due to their joint status as the state’s foreign head. The Sultan stated that as a small country they always prioritize their prayers to Allah. It is driven by their national Philosophy of Islamic, Malay, and MIB (Monarchy) that is running for hundreds of years.

To Fight Harmful Content Britain to Regulate Social Media

To Battle Harmful Content England to Regulate Social Media

New online safety laws also proposed by Great Britain and according to these laws, if the social media networks violate them, they will have to face heavy penalties. It’s the responsibility of technology firms and social media companies to shield their users from harmful online content. Due to the straightforward approach of destructive material to the young generation, there are growing a lot of worries for the whole world. A fourteen years old schoolgirl commit suicide in Britain after she watches suicide and depression material on the internet – her parents.

All around the world governments are trying to regulate the online laws to control the social media content accurately, usually, these platforms blamed for spreading the online pornography, abusive materials and manipulating or influencing the voters. The central incident after which the whole world shocked was the terror attack at two Mosques of New Zealand. And the worst side of this violence was the online streaming of the entire shooting live from the Facebook account of the shooter. Afterward, Australia and worldwide other governments blame the social media platforms for such brutality and violence spreading. Especially Facebook was on the hit list of the criticism that they didn’t stop and remove the live stream and video immediately.

Singapore to fight online Falsehoods with Sweeping Law

British New Policies on Online Content

The Britain government stated that they are going to block the access of harmful websites, impose hefty fines, prison and restricting the giant tech companies to limit harsh contents on their platforms. TechUK said that it is essential that the new framework is proportionate, predictable and effective. However, it also meant that all the issues related to the harmful content could not be controlled only with the help of regulations.

Read Also: ‘Fake News’ Bill of Singapore Let Down Mark Zuckerberg

Facebook’s owner, Mark Zuckerberg stated in the recent past that he would please to work with the governments to make sure the implementations and effectiveness of the new regulations. He expressed that regulations for websites must have a standard approach across the world to have a strong grip to control the current uncertainty about online content.

Complex Issues in the way of Regulations

UK public policy head of Facebook, Rebecca Stimson said that implementation of any new rules should have to maintain the balance among free speech, protecting society and supporting innovation. Stimson also gives the statement that these issues are complicated to see them on time and they are looking forward to work with the parliament and government to confirm the real effectivity of the regulations. The British Prime Minister Theresa May conveyed that there is no doubt the internet is useful to connect the people; however, it is not effective enough to protect the users, especially the young generation and children.

Acceleration of Saudi Nuclear Program Raised Tensions for the Region

Acceleration of Saudi Nuclear Program Raised Tensions for the Region

After the Trump administration’s permission to Saudis to start their nuclear program, it starts debates in a fury in Tehran and the United States Congress. Robert Kelley, the former director inspections of nuclear at (IAEA) the International Atomic Energy Agency said that the images from the satellite showed that the construction of the experimental reactor is in progress just after the announcement from the Kingdom to build it. And according to his estimation, the development of the reactor could finish in nine to twelve months. The Kingdom of Saudi Arabia started its nuclear program with the coordination of IAEA. A team of International Atomic Energy Agency visited KSA last July to verify their building plans. Their officials repeatedly assured that the nuclear program of Kingdom is peaceful.

However, last year the Crown Prince of Saudi Arabia Mohammad bin Salman stated that without any doubt if Iran makes a nuclear bomb than they will follow them as immediately as possible. It is also raising worries in the industry experts and few in Congress is the insistence of Saudi that they should permit to produce their own nuclear fuel instead of importing it under strict terms. Energy Minister of Saudi Arabia Khalid al Falih gave an interview last year and said that it is not natural for them to take enriched uranium from a foreign country to fuel their reactors while quoting the uranium reserves of the country.

Saudi Arabia 2030 Vision about Energy and Nuclear Ambitions

Saudi Arabia disclosed their nuclear ambitions public nine years ago, whereas, the plans went into overdrive as part of the Vision 2030 of Crown Prince. It is a strategy to prevent KSA from its dependence on oil and expand both the energy mix and the economy. Already country consumes around one-quarter of its own production of oil, and the output is expecting to remain stable roughly even as energy demand expected to three times by 2030. Therefore, the blueprint for Vision 2030 contains wind and solar power along with the nuclear program in a try to fulfill one-third of the energy-needs from non-oil resources. By the year 2040 Saudi Arabia have visions of seventeen gigawatts of nuclear capacity, and that is sufficient to fulfill fifteen percent of its power needs.

Trump Administration Agrees to transfer Nuclear Energy to KSA

On the other side, former director for nuclear inspections, Robert Kelley stated that the nuclear reactor of Saudi Arabia actually designed to train the scientists. Kelley said that the experimental reactor is in the process of construction at city King Abdulaziz for Science & Technology that aimed to train scientists. Furthermore, he also said that the reactor is equal to the size of a wastebasket and it has not any strategic significance. It would take about a hundred years to process enough plutonium to make a nuclear weapon.

After this phase, the officials of KSA planned to build two commercial reactors, and they are finding the contractors to construct. Kingdom of Saudi Arabia also signed the contracts with National Nuclear Corporation of China for discovering the reserves of the uranium in the Kingdom.

Imran Khan Accused India as War Hysteria against their Downed Aircraft Claim

Imran Khan Accused India as War Hysteria of their downed Aircraft Claim

The Pakistan’s Prime Minister Imran Khan Niazi accused the Indian Prime Minister that he and his party is whipping up war hysteria as they are claiming that they down an F-16 Pakistani aircraft in February as a standoff. Furthermore, he said that truth is always the best policy and there is not any truth in the Indian claim. United States-based Foreign Policy magazine stated that Pakistan’s all F-16 fighting aircrafts had accounted for, opposing the assessment of Air Force of India that they target down one of the jets.

However, the Pakistani PM Khan tweeted that “The truth always conquers and it is always the best policy.” Moreover, he expressed that the Bharatiya Janata Party is trying to win the elections with the help of war hysteria and doing wrong claims of hitting down a Pakistani F-16. On the other side Defense officials of the United States supports the Khan’s argument and confirms that not a single F-16 missing from Pakistani fleet. Earlier, two neighboring nuclear powers trapped in an aerial fight on the Kashmir dispute after the border crossing of Indian jets in the Pakistani territory.

During this battle, Pakistani jets hit down an Indian aircraft and captured its pilot under their custody. But after the announcement of Pakistani Prime Minister Imran Khan to create a peaceful atmosphere between India and Pakistan, they handover that pilot to Indian officials without any conditions. After the release of the pilot from the Pakistani side, the environment of nuclear war between the two countries little bit vanishes.

BJP Campaigning Elections on Tough National Security

The ruling party of India, the Bharatiya Janata Party, is campaigning the upcoming general elections on the platform of national security. It is blame from New Delhi that Pakistan is fueling a thirty-year revolt in Indian occupied Kashmir, whereas Pakistan always uses to deny their claim. Bizay Sonkar Shastri, the spokesperson of BJP, shared his views to the journalists that Pakistan’s tradition of lying not a secret for the entire world. On the other side, it is a definite truth that the roots of terrorism lie in the Pakistani territory and their officials use to grow it.

Our Airstrike Hit Key Militant Camp in Pakistan – India

Opened and Unopened Pakistan’s Air Routes

Due to the past recent situation among the two neighbors, Pakistan closed its airspace whereas, until now it resumes most of the commercial air traffic and opened many airports. An official of an Air India said that one of the 11 air routes opened on Friday from Pakistan’s side. Though, an official of the Indian government did not specify the details said that it is a piece of confidential information. Also, the news of opening one air route confirmed also from Pakistan’s side as Civil Aviation of Pakistan spokesperson, Mujtaba Baig.

Google Decided to Shut Down its Ethics Board

Google Finally Decided to Shut Down Their Ethics Board

Overseas Google’s artificial intelligence set up its independent group, but it shut down after a fortnight of its launch. ATEAC (The Advanced Technology External Advisory Council) has a responsibility to look at the ethics around Artificial Intelligence, facial recognition, and machine learning. Moreover, one member of the council resigned until now, and there was another chance for another member to removed. The tragedy raised the questions that either the organizations should create such bodies. It is now clear for Google that ATEAC cannot perform in the present environment as they required.

Furthermore, Google stated that they are terminating the council and moving back towards the drawing board. They will continue to be responsible in their work on the crucial issues that Artificial Intelligence raises. Hence they will find various ways of getting outside ideas on these topics. Kay Coles James is the president of conservative think-tank the Heritage Foundation and on his appointment there had an outcry. Many employees of Google signed the petition for the removal of James as those employees defined it as anti-LGBTQ, anti-immigrant and anti-trans in their comments.

Man stole more than 100 Million Dollars from Google & Facebook

Prof Alessandro Acquisti, a board member, resigned at the weekend and said on his Twitter account that as he keen to research grappling with fundamental issues of rights, fairness, and inclusion in Artificial Intelligence. In addition, he tweeted that he doesn’t think that that is the right environment for him to engage in this essential work. At the Massachusetts Institute of tech, during a conference, the panel announced and decided to meet about four times in this present year.

Joanna J Bryson Views in a Tweet

Among eight members of the panel, one of them Joanna Bryson who is a professor at Bath University tweeted that she is angry at the decision of Google to pull the plug. Also, she said in a tweet that she thought there were enough active people at Google that there must be few processes for either improving or communicating the decisions. However, she was wrong, and those people right who called her naïve.

Read Also: American President Shows Personal Interest towards Artificial Intelligence by Signing Executive Order

Crash Findings of Ethiopian Airlines 737 Max Released

Released Crash Findings of Ethiopian Airlines 737 Max

Allied Pilots Associations spokesperson, Capt. Jason Goldberg said that the findings demonstrate that the failure involved in the automatic anti-stall software – MCAS or the Maneuvering Characteristics Augmentation System is a severe emergency. He said in a statement that the Ethiopian investigation’s initial findings approve that an MCAS failure is a critical emergency and not a benign event.

Goldberg expressed that American Airline’s pilot union remain hopeful and cautious that the potential fix will be thoroughly examined and not fast-tracked or hurried. Moreover, he also said that the APA would remain keenly engaged to confirms that the 737 Max will only fly again when it ensures the satisfaction of all the stakeholders.

Boeing 737-8 Aircrafts Commercial Operations Suspended in China

Similarities of Ethiopian Airlines Accident with Lion Air Accident

It seems in the initial report that there are many similarities in the crash of Ethiopian Airlines Max 8 and the Lion Air crash that also involved another Boeing 737 Max 8. Earlier in a statement, Boeing said that the core value safe for everybody and sustained the safety of their planes, passengers, their customers whereas, the crew is always their top precedence. However, the report not released publically and the report is preliminary whereas, the final report can take more than year to produce.

CEO of Ethiopian Airlines’ Statement

CEO of the Ethiopian Airlines, Tewolde Gebremariam said that it seems that before the crash the stabilization system activated. Furthermore, he expressed that even though three un-commanded and huge automatic nosedives from the control system of flight and in today’s terminology, it may be a chance that the MCAS activated. Whereas, in the report, the name of the MCAS stabilization system was not specified; however, it looks that the MCAS system forced the plane into a dive fueled with attack sensor readings wrong angle.

Read Also: Ethiopian Airlines Boeing 737 MAX 8 Crashed with no Survivors

He added that the initial report clearly states that all the speculators with untrue allegations proved wrong, referring to doubts and criticism over the qualification of the pilot. Gebremariam openly declares that their airline is always confident about their pilots. On the other side, the Boeing 737 MAX seems to have a technical problem, he added.

‘Fake News’ Bill of Singapore Let Down Mark Zuckerberg

Mark Zuckerberg Disappointed with the ‘Fake News’ Singapore’s Bill

The CEO of Facebook, Mark Zuckerberg stated that he always welcome new regulations of giant tech; however, he doesn’t mean like this. A new bill passed in Singapore targeting the social media groups with hefty fines if they don’t meet the terms of the censorship orders. Under the prevention from Online Manipulation Bill and Falsehoods, it will be unlawful in Singapore to spread false statements of facts. Because that false information is prejudicial to the Singapore security, public tranquility, and public safety or it may also damage Singapore’s friendly relations with other countries.

If any individual found guilty of doing the contravening act, he can face fines about 50,000 Singapore dollars (above $36,000) or, and, around five years in prison. Moreover, if the fake news posted through an inauthentic online account or operated by a bot, it will face fine that increases to 1000,000 Singapore dollars (about $73,000) or, and, about ten years in prison. On the other hand, if the big tech giants like Twitter, Facebook, and others found guilty of spreading or posting ‘fake news,’ they can face fines around 1 million Singapore Dollars (about $735,000).

Facebook to Block White Nationalism and Separatism and Extremism

Press Freedom History of Singapore

If we put an eye on the history of the freedom of Press in Singapore, it is clear that the country has a poor record in this area. Watchdog Reporters released a recent ranking of the world countries without borders on press freedom, Singapore stands on 151 positions from 180 overall countries amongst the country’s worst positions that consider a democrat state. Deputy Director of Human Rights Watch Asia, Phil Robertson spoke that he was expecting that the new bill that comes before the elections will use for the political purposes. Furthermore, he said that the government of Singapore has an extensive history of calling everything they disagree with as misleading and false.

Read Also: Facebook will Share Algorithm Secrets of News Feed

Lee Hsien Loong, the Prime Minister of Singapore, supported the bill and is about to pass the dominated ruling-party in Parliament. Also, it will raise serious questions for international media and tech companies which considered Singapore their home like Google, BBC, and Facebook, as they have their Asia headquarters there. On the other side, CNN has not any journalistic place in Singapore, whereas, WarnerMedia, the parent company of CNN has its offices in the city. Simon Milner, the director of Facebook of public policy for Asia-Pacific, stated that though the company supported in principle regulation on the dispersion of online fake news. So, it had worried at the granting of the law of broad controls to the executive branch of Singapore to force them for content removal they consider to be false and forward the notification of the government to the users.