Author: Akin Naphtal

Microsoft is set to layoff 1,900 employees at Activision Blizzard and Xbox, representing approximately 8% of the overall Microsoft Gaming division, as part of efforts to streamline operations and optimise resources after its $69 billion Activision acquisition. The majority of the cuts will occur at Activision Blizzard. Notably, Blizzard President Mike Ybarra and Chief Design Officer Allen Adham will be departing from the company. Additionally, Microsoft has disclosed the cancellation of a previously announced survival game by Blizzard. This move follows a broader trend in the technology sector, where significant layoffs have been witnessed in recent weeks. Several major companies,…

OfferZen, a developer marketing hiring place, has concluded a €4m (R82m) funding round from investors Invenfin and AI Capital. The company has also announced that its CEO will be stepping down. Philip Joubert, co-founder of OfferZen, remarks: “Securing this funding from investors who share our long-term vision is a testament to our team’s hard work. “We couldn’t be more excited to partner with investors that bring so much experience. Their support and capital investment will help us make a lot of product improvements over the coming months.” Change in leadership After three years as CEO, Joubert is handing over the…

Ericsson is announcing that it has signed two agreements for funding with the European Investment Bank (EIB) for a total of EUR 420 million where EUR 250 million was disbursed in December 2023. In addition to strengthening Ericsson’s balance sheet and financial flexibility, the loans have been granted for the purpose of financing Ericsson’s investments in research and development (R&D) in relation to enhanced wireless technology between 2023 and 2025. The R&D investments are an important contributor into Ericsson’s overall plan to reach the Net Zero target by 2040 through reduced energy consumption in the mobile networks globally. Carl Mellander,…

PayPal has announced the launch of new artificial intelligence-driven products and a one-click checkout feature, as part of its leadership’s efforts to breathe more life into the US-based fintech giant. This development marks the financial firm’s first major announcement under CEO Alex Chriss, who joined PayPal in September 2023. PayPal’s announcement falls in line with the current trend of technology companies tapping into AI usage to reach more heights The new products and features aim to leverage AI capabilities to enhance customer experiences and provide more targeted services to both consumers and merchants. PayPal’s ability to analyse data from approximately…

Apple is adjusting its policies due to the European Union’s (EU) Digital Markets Act (DMA), which requires companies with over 45 million monthly active users and a 75-billion-euro market capitalisation to facilitate compatibility with rival apps and allow users to choose pre-installed applications. Starting in March, developers will have the option to distribute their apps through alternative stores on iPhones, providing an alternative to Apple’s App Store. Additionally, developers can opt out of using Apple’s in-app payment system, which traditionally charges commissions of up to 30%. However, apps will still undergo Apple’s review for cybersecurity risks and fraud, and the…

Kurdistan International Islamic Bank for Investment and Development (KIB), a prominent Islamic financial institution in Iraq, has initiated a digital transformation initiative through the adoption of the iMAL™ Islamic core banking platform from Azentio Software. Azentio Software, headquartered in Singapore and owned by funds advised by Apax Partners, specialises in providing technology solutions. iMAL™ aims to establish a robust digital foundation for KIB, aligning with its growth strategy in Iraq and the region. The platform is designed to offer customers user-friendly, high-quality services and an omnichannel experience. iMAL™ complys with the Sharia and financial accounting standards of the Accounting and…

US-based technology giant, Microsoft’s stock market value has surpassed the $3 trillion mark for the first time, making it the world’s second most valuable company, just behind rival Apple. The software maker’s shares reached a record high of $405.63, experiencing a 1.7% increase that propelled the company’s market capitalization above $3 trillion. However, it closed slightly below the threshold at $402.56, resulting in a valuation of $2.99 trillion. Apple, with a market value of $3 trillion, maintained its lead as the most capitalised stock. Microsoft’s investments, including its backing of OpenAI, the creator of ChatGPT, have positioned it as a…

Cribl, the data engine for IT and Security, has announced the launch of Cribl for Startups, a new program to support early-stage startups that are building the next generation of data solutions for IT and Security. Participating startups receive access to Cribl’s full suite of products via Cribl.Cloud, mentorship from product, revenue, and marketing leaders, and co-marketing opportunities to bring innovative data products to market. The program is designed to build an ecosystem of next generation data companies focused on creating innovative solutions for IT and Security. Application for the Cribl for Startups program is open this week and available…

CGI announces to the public that the National Bank of Canada has renewed its partnership with CGI for 10 years. CGI will deliver a wide range of technology services and market-leading solutions to help the Bank further enhance its client experience and drive operational excellence. “CGI is a trusted partner in the financial services sector,” says Julie Levesque, Executive Vice-President – Technology and Operations, National Bank of Canada. “We value CGI’s expertise and commitment to excellence that will play an important role in our ongoing efforts to meet the evolving needs of our clients and stay at the forefront of…

For much of 2023, the growth of the BRICS alliance dominated the geopolitical sector. Indeed, the alliance garnered headlines following last year’s Annual Summit when it announced a six-country expansion plan. Subsequently, it was the bloc’s first such growth plan since it added South Africa two decades ago. Heading into 2024, all eyes are on the development of a BRICS currency. Although the details of the project are sparse, work on such a concept has been rumored to be well underway. Now, amid the BRICS initiative, both Russia and India have partnered to create a digital economy. The Minister of…