Hey Guys, join us again today for the Big 5 Daily. Let’s dive in quick.
Financial comparison platform in Dubai, Yallacompare secures a new $8 million investment to expand to Egypt by the end of the quarter. This round was led by active investors, Wamda Capital as well as STC Ventures and joined by New York-based Argo Ventures.
Yallacompare helps users compare financial products including different types of loans and credit cards, and also buy insurance online through its web-based platform.
Still in Egypt. RiseUp is organizing a digital financial inclusion hackathon in Cairo in partnership with the United Nations’ information and communication technologies agency, International Telecommunications Union (ITU). The competition – Financial Inclusion Global Initiative (FIGI) Hackathon – will be part of the FIGI Symposium taking place in Cairo on the 21st and 22nd of January.
Microsoft has failed to meet up with a self-induce time limit to launch two Azure cloud data centres – one in Johannesburg and the other in Cape Town South Africa in 2018. However, the company said it will be unveiled this year.
According to TechCentral, there are reports stating that Microsoft cancelled its plans to launch the facilities as a result of the inability of a third-party supplier to deliver to specification.
Intel Corp is working with Facebook Inc. to complete a new artificial intelligence chip in the second half of this year, says Intel at the Consumer Electronics Show in Las Vegas.
As reported by Reuters, the chips are Intel’s strategy to retain a hold on a fast-increasing segment of the artificial intelligence computing market. This doesn’t mean it will not face competition from other chips makers like Nvidia Corp and Amazon.com Inc.
Samsung Electronics indicated that its first quarterly profit drops in two years and blamed the mounting competition from Chinese smartphone makers and falling chip prices. This is added to the news on the declined Apple’s revenue forecast last week, which was attributed to weak sales in China in relation to the trade war.
The downtime was experienced during the October and December period. They had predicted an operating profit of approximately 10.8 trillion Korean won ($9.67 billion) which is a 28.71 percent decrease from a year ago. But the figure missed market expectations, coming in 18.18 percent less than the 13.2 trillion won that analysts had predicted.
That’s all for today. Do join us tomorrow for more.