Day: July 19, 2022

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Dollar exchange rate stable at major banks in Egypt

The exchange rate of the US dollar against the Egyptian pound was stable on Tuesday at Egypt’s major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate remained stable, recording EGP 18.85 for buying and EGP 18.91 for selling.

At the Commercial International Bank (CIB), the dollar exchange rate registered EGP 18.87 for buying and EGP 18.93 for selling.

As for main currencies’ exchange rates, world capital markets and banks are being affected on the back of repercussions of the Russian-Ukrainian crisis.

The euro price registered EGP 19.07 for buying and EGP 19.22 for selling at Banque Misr and the NBE.

At the CIB, the euro price registered EGP 19.09 for buying and EGP 19.22 for selling.

The pound sterling at the NBE and Banque Misr reached EGP 22.48 for buying and EGP 22.65 for selling.

At the CIB, the pound sterling exchange rate amounted to EGP 22.50 for buying and EGP 22.66 for selling.

The Saudi riyal price stood at EGP 5.02 for buying and EGP 5.03 for selling at Banque Misr and the NBE.

 

 

 

 

Source: State Information Service Egypt

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El-Sisi congratulates national handball team on winning African championship

President Abdel Fattah El Sisi has congratulated the Egyptian national team on claiming their eighth title of the African Men’s Handball Championship, hosted by Egypt.

In a cable of greetings to the team, Sisi hailed as “heroic” the performance shown by the Pharaohs throughout the tournament.

The president also praised the successive achievements made by the national team in different international competitions.

 

 

 

Source: State Information Service Egypt

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PM congratulates national handball team on winning African Men’s Handball Championship

Prime Minister Mostafa Madbouli has congratulated the Egyptian national team on clinching their eighth title of the African Men’s Handball Championship, hosted by Egypt.

The premier and Minister of Youth and Sports Ashraf Sobhi attended the final match between Egypt and Cape Verde, and honored the three winning teams at the tournament.

Morocco got bronze medals after finishing third in the championship.

 

Egypt secured a blowout victory against Cape Verde in front of a home crowd on Monday evening.

The hosts bulldozed their way through the match as they won 37-25 at the Hassan Mostafa Sports Hall in 6th of October city.

 

Source: State Information Service Egypt

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Cabinet denies news about gov’t hospitals turning away Covid cases

The Cabinet’s media center has denied news that government hospitals reject Covid-19 cases due to low capacity.

In a statement on Tuesday19/7/2022, the media center said it had contacted the Health Ministry, which dismissed as baseless such news.

Government hospitals are ready to receive all coronavirus infections as normal and to conduct all check ups and tests, before prescribing medicine for patients in line with the Health Ministry protocol, the statement added.

The Health Ministry urged all citizens to verify any information from official sources.

The Cabinet’s media center called on all media outlets to only circulate accurate news after verifying it from bodies concerned.

 

 

Source: State Information Service Egypt

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Cairo governorate gears up for COP27 via launching ‘Cairo Bike’ project

Cairo governorate started to set up five stops for “Cairo Bike” project at Tahrir, Mohamed Farid and Abdel Moneim Riyad squares and El-Falaki and Abdel-Khaleq Tharwat streets in Downtown Cairo.

 

In statements on Tuesday19/7/2022, Cairo Governor Khalid Abdel Aal said that the project, which aimed at reducing harmful gas emissions, was launched in preparation for the 27th session of the Conference of the Parties (COP 27) to the UNFCCC, set for the Red Sea resort of Sharm El Sheikh in November.

 

The governorate seeks to support the integration of transportation and facilitate health and environmental practices to limit harmful greenhouse gas emissions in the capital Cairo, the governor said.

 

It also seeks to reduce the increasing dependence on cars within the framework of the diversity of healthy and eco friendly transportation, which will contribute to reducing traffic congestion in the Downtown area, the governor added.

 

The Cairo Bike project is implemented by Cairo Governorate in co-partnership with the United Nations Human Settlements Program (UN-HABITAT), Swiss non-profit Drosos Foundation, which has been active in Egypt since 2005, the US Institute for Transport and Development Policy (ITDP).

 

The bikes are fitted with a GPS tracker. The applied system enables anyone to ride a bike from one stop to another through a smart application available on cell phones with a prepaid card system to calculate the time and distance traveled by the bike.

 

 

Source: State Information Service Egypt

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Egypt FM hails cooperation with US in climate change-related issues

Foreign Minister and President-Designate of COP27 Sameh Shoukry held a meeting Tuesday with US Special Presidential Envoy for Climate John Kerry.

During the meeting, held on the sidelines of Berlin-hosted Petersburg Climate Dialogue, Shoukry hailed the level of cooperation with the US in climate change-related issues.

The two sides exchanged viewpoints toward the current status of the climate negotiations, especially in top priority issues, including adapting and mitigating the adverse effects of climate change and ways of providing climate finance, said Foreign Ministry Spokesman Ahmed Hafez.

Shoukry, meanwhile, highlighted the need that the positive political will expressed by various countries be reflected at the level of technical negotiations, a matter which will contribute to enhancing confidence between the various parties to the climate negotiations, added the spokesman.

Shoukry also shed light on Egypt’s efforts to get viewpoints closer among the various parties, added the spokesman.

The Egyptian foreign minister further said that he is looking forward to see a US high-level participation during the COP27 conference, which will be held in Sharm El Sheikh next November, added the spokesman.

 

 

 

Source: State Information Service Egypt

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OPTASIA AND TNM OFFER NEW ADVANCE CREDIT SERVICE IN MALAWI

DUBAI, UAE, July 19, 2022 /PRNewswire/ — Optasia, an advanced AI-led decisioning and distribution platform, that enables instant access to financing solutions, announces launch of a new Advance Credit Service (ACS) in Malawi through Telecom Networks Malawi (TNM), the oldest telecommunications company in the country.  This service will allow TNM to provide airtime and data advancements to its customer base.

Optasia Logo

The service that is provided by TNM in Malawi is powered by Optasia through its AI-led originating and credit decisioning platform under the product name “Pasavute Service”. This service offering will reach an addressable subscriber base of about 5.000.000 people in Malawi.

“As a successful ACS provider globally, providing easy solutions to people and improving their daily lives has always been among our key commitments,” stated Mark Muller, Group CEO for Optasia. “We are happy to be involved with a well-trusted Telecom Operator like TNM in Malawi, enabling them in reaching out to the local population with meaningful telecommunications solutions”.

TNM’s Head of Brand and Marketing Madalitso Jonazi said, “We have a role to ensure that there are no more barriers to staying connected. At TNM Plc, we have decided to break the barriers by giving Malawians wider options to remain connected, removing the limits and bringing both voice and data bundles in the Pasavute credit net”. Jonazi added that Pasavute allows TNM customers to make calls to other networks without barriers, providing universal access to telephony and mobile internet.

The deployment of Advance Credit Services in Malawi further showcases Optasia’s continuous global expansion, as the company is active in over 30 countries, with unique access to more than 560 million end customers.

About Optasia

Optasia, previously Channel VAS Investments Limited, is an advanced AI-led platform which enables instant access to financial solutions for millions of under-banked individuals and SMEs across over 30 countries mainly in Emerging Markets. Optaisa’s B2B2X model creates value for its partners, in the form of revenue and customer retention without the need for additional operating or capital expense. The company’s AI-led data engine and proprietary algorithms analyze alternative data from mobile and other environments to provide relevant instant credit decisions to its partners. These capabilities enable micro-lending, air-time and data advances via mobile wallets, SIM cards, and other digital environments.

Logo – https://mma.prnewswire.com/media/1752683/Optasia_Logo.jpg

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StarX MusicX Lab Enters the era of Digital Content Creation with the Release of Its First AI-composed Songs

BEIJING, July 19, 2022 /PRNewswire/ — Kunlun Tech’s social entertainment platform StarX MusicX Lab, specializing in AI composition, recently released five songs, all of which were composed by AI software. The five AI-generated content (AIGC) compositions are now available on more than 180 music platforms worldwide including Spotify, SoundClould, QQ Music and NetEase Cloud Music.

Kunlun Tech’s social entertainment platform StarX MusicX Lab releases its first AI-composed songs on 180+ music apps, including Spotify and SoundCloud

Music labels, singers and music producing organizations have started to use the AIGC songs StarX MusicX Lab produced. The songs, many of which have been recorded by mainstream artists in Indonesia and Malaysia, are already proving popular on StarX’s entertainment social platform StarMaker.

In the Web3.0 era, a new generation of platforms is on the rise. “AIGC is emerging as a key player in this new form of content creation,” says Kunlun Tech CEO Han Fang. “To this end, StarX MusicX Lab has started rolling out AIGC songs, providing a new kind of AI application scenario and giving us the freedom to let our imagination fly in terms of what is possible when it comes to content creation.”

The efforts by StarX MusicX Lab marked a material change in how AI-composed audio is produced. With the latest technological advances now having been converted into applications, AI can do what is truly imaginative, making a contribution to the harmony between the virtual and real worlds. Over time, more AI-originated creations are bound to go mainstream.

Based on AI application scenarios, the Lab is a part of Kunlun Tech dedicated to developing AI-composed musical tracks. With sophisticated and professional full-chain music production and worldwide distribution capabilities, the platform is able to deliver high-quality singles, soundtracks and ambient music to the four corners of the globe.

The Lab is equipped with a highly-efficient and low-cost AI composer, which provides creators with the capability of producing multiple forms of content, no matter whether what is created is destined for an application in social media, gaming and entertainment, film and television production, or a marketing campaign.

With the development and improvement of AI technology, AIGC will be more helpful than ever in terms of content creation by improving the efficiency and diversity of content production, while offering more dynamic and interactive content. The massive virtual world that is the Metaverse spans a wide range of sectors including AI, gaming and social media, among many others. In the medium and long term, AIGC can be expected to bring innovation to the virtual world and enhance the co-prosperity of all links in the industry chain by identifying and leveraging new growth points.

The next stages of development in the Metaverse require not only technological progress, but also content-side support. In 2021, Kunlun Tech completed its Metaverse portfolio and the build out if its AI-driven applications for social entertainment and information distribution. As AIGC evolves, the Metaverse business will serve as a new contributor to Kunlun Tech’s exponential growth.

China’s top Internet firms, including Byte and Baidu, have already entered and are quickly making progress in the realm of AIGC, while StarX MusicX Lab has already taken the lead in related technologies.

The digital human ecology built around the virtual world and the Metaverse infrastructure has begun to take shape, and so did the music ecology built around the new media of the Internet. The wide application of AI technologies will dramatically change how content is created. As AIGC evolves, StarX MusicX Lab will continue to expand its business footprint, as the firm further improves its creation capabilities, while producing exclusive songs for the world’s influencers.

Supported by increasingly stronger computing power, AI that features self-computing and greater adaptability will be a perfect match for content production needs by unleashing the vitality of content creation and by making the creative space more diverse and dynamic. With the popularity of AI products and the growing demands of fans, StarX’s creative content destined for application in the entertainment, audio, and social media sectors is bound to have even greater potential and room for development.

Photo – https://mma.prnewswire.com/media/1860591/Kunlun_Tech_StarX_MusicX_Lab.jpg