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(Reuters) – OpenAI said on Friday it was testing new reasoning AI models, o3 and o3 mini, in a sign of growing competition with rivals such as Google to create smarter models capable of tackling complex problems. CEO Sam Altman said the AI startup plans to launch o3 mini by the end of January, and full o3 after that, as more robust large language models could outperform existing models and attract new investments and users. Microsoft-backed OpenAI released o1 AI models in September designed to spend more time processing queries to solve hard problems. The o1 models are capable of reasoning through complex tasks and can solve more challenging problems than previous models in science, coding and math, the AI firm had said in a blog post. OpenAI’s new o3 and o3 mini models, which are in internal safety testing currently, will be more powerful than its previously launched o1 models, the company said. The GenAI pioneer said it was opening up an application process for external researchers to test o3 models ahead of the public release, which will close on Jan. 10. OpenAI had triggered an AI arms race after it launched ChatGPT in November 2022. The growing popularity of the company and new product launches helped OpenAI in closing a $6.6 billion funding round in October. Rival Alphabet’s Google released the second generation of its AI model Gemini earlier in December, as the search giant aims to reclaim the lead in the AI technology race. (Reporting by Jaspreet Singh in Bengaluru; Editing by Vijay Kishore) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );The Bangladesh stock (equity) market has experienced significant fluctuations since the 2010 market crash, reflecting a challenging macroeconomic and political environment. Analysing the post-crash period from 2011 onwards provides insights into the volatility and recovery patterns of the market. In 2011, the market experienced a dramatic loss of 32.2 percent (total return), driven by a sharp capital loss of 36.6 percent following the speculative bubble that burst in late 2010. This was compounded by high inflation (10.7 percent), leading to a substantial negative real return of 42.9 percent. Investor confidence remained low in 2012, with a further decline in market returns (by 16.1 percent) and inflation staying elevated (8.7 percent), resulting in another negative real return of 24.9 percent. However, the market began to stabilise from 2013 onwards. Although capital gains were modest at 4 percent, dividend yields provided some cushion, and total market return rose to 7.8 percent. With inflation beginning to taper (7.5 percent), the real return turned positive at 0.3 percent, signalling a tentative recovery. From 2014 to 2017, the market gradually improved, with total returns averaging around 15 percent per year. The highest total return during this period was 26.7 percent in 2017, despite inflation averaging around 5-7 percent, leading to consistent positive real returns. A major setback occurred in 2018 when the market saw a loss of 10.8 percent (total return), coupled with inflation at 5.7 percent, resulting in a negative real return of 16.4 percent. This trend continued into 2019 as the market struggled to recover, with a further 13.1 percent decline in total return. The market showed a sharp recovery in 2020 and 2021, with total returns of 24.4 percent and 29.1 percent, respectively, as post-pandemic optimism boosted performance. However, high inflation and corporate-led corruption have led to a decline in 2022 and 2023, and in 2024 YTD, the market is down by 16.2 percent (capital loss), facing significant headwinds like macro instability, high inflation, and weak investor sentiment. The overall post-crash analysis shows a pattern of recovery but is marked by periods of volatility, inflationary pressure, and ongoing political and economic risks. The Bangladesh stock market typically rebounds after 2-3 consecutive years of correction, as historical patterns suggest. Based on past trends, one might expect a recovery in or by 2025. However, the current situation presents unique challenges, as the market's trajectory is increasingly intertwined with the country's macroeconomic conditions and political landscape. Given these dynamics, the projection for the next two years remains cautious. The Bangladesh stock market is poised to encounter substantial headwinds due to a confluence of macroeconomic and political uncertainties, which could significantly impact its performance. Below is a detailed analysis of the key challenges expected to shape market outcomes in the coming years. To provide a more comprehensive understanding, the article includes historical context that sheds light on the underlying causes of anxiety among minority investors in Bangladesh's stock market, ensuring these issues are neither overlooked nor ignored. Bangladesh's stock market is under strain as high interest rates on government bonds (11-13 percent) pull institutional investors toward safer, risk-free returns, weakening liquidity and investor confidence. Rising inflation, projected to hover around 10 percent for at least the next two years, exacerbates economic instability by eroding consumer purchasing power and corporate profitability while also increasing borrowing costs. Additionally, declining foreign exchange (FX) reserves, driven by reduced export competitiveness, supply chain disruptions, and rising business costs, further undermine economic stability. The weakening taka adds to the strain, raising import prices, feeding inflation, and deterring foreign investment due to the risk of currency losses. Compounding these challenges is Bangladesh's rising foreign debt burden, which is becoming increasingly expensive to service due to the taka's depreciation, diverting resources away from critical development projects and infrastructure investments. Without effective fiscal management, investor confidence and stock market growth are likely to remain subdued. High global interest rates, particularly in the US, are drawing investment flows away from emerging markets like Bangladesh. With US bonds offering safer, more attractive returns, foreign investors are less likely to invest in Bangladesh's stock market, exacerbating capital outflows. Additionally, capital flight driven by export-import manipulation and corruption in large project financing, involving major corporations like S Alam Group, Summit Group, and BEXIMCO Group, continues to deplete foreign exchange reserves. Hopes of recovering these siphoned funds are unrealistic, as they are often held in tax havens with little incentive to cooperate. This capital flight and lack of international legal recourse further weaken the country's economic stability and stock market performance. Bangladesh's stock market faces significant challenges due to weak regulatory leadership, institutional failures, and unresolved margin loan issues. The Bangladesh Securities and Exchange Commission (BSEC) remains under scrutiny. Compounding these concerns, the Investment Corporation of Bangladesh (ICB), once a major stabilising force in the market, is now struggling under a portfolio of junk stocks and questionable investments. Years of mismanagement and corruption, including dubious investments have left ICB in a weakened financial state, severely limiting its ability to intervene in market downturns. Moreover, the persistent issue of margin loans continues to burden financial institutions. Merchant banks and brokerage firms, plagued by bad debts from margin loans extended during previous market bubbles, are unable to provide fresh loans, stifling market liquidity. The total outstanding margin loans, including interest, have reached Tk 250 billion ($2 billion), with a significant portion in negative equity. Despite efforts to address these issues, powerful individuals with political and social connections have manipulated the system, obtaining unauthorised loans and evading accountability. Without decisive action from the BSEC and a comprehensive cleanup of financial institutions' balance sheets, Bangladesh's stock market will remain vulnerable, limiting its growth potential and undermining investor confidence. Bangladesh's stock market is grappling with a significant lack of "smart capital," as wealthy investors and corporations either move funds abroad or hold back investments due to uncertainty. This absence of new, well-capitalised investors leaves the market dependent on a small group of players, increasing the risk of manipulation and volatility. Foreign investors, too, are deterred by poor transparency, particularly under the previous leadership of the BSEC, further stalling capital inflows. Additionally, tax policies provide little incentive for companies to list on the stock exchanges, with the tax differential between listed and non-listed firms being too narrow to justify the costs of going public. As a result, many well-established companies avoid the stock market, depriving it of the quality listings needed for growth and stability. Combined with the regulatory failures that allow debt-ridden companies to remain listed, these factors prevent the market from attracting both local and international long-term investors, ultimately stifling its development. Without reforms, the Bangladesh stock market will struggle to achieve sustainable growth and liquidity. Given these challenges, a conservative investment strategy focusing on government bonds is advisable. Allocating 60-70 percent of funds to government bonds ensures capital preservation in uncertain times. Until a stable government is established and market conditions improve, focusing on low-risk investments is a prudent approach. It's important to remember that in a stormy sea, keeping your ship steady is far more vital than rushing toward the horizon. In such dangerous waters, ensuring your vessel stays afloat matters more than chasing quick profits.
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NoneHOUSTON, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Data Journey LLC, a leading woman and minority-owned data center provider, is proud to announce the acquisition of its third property, the Spartanburg site, from Greenidge Generation Holdings Inc. GREE for $12.1 million. The purchase is a significant milestone for Data Journey as it marks their entry into the South Carolina market and supports the company's aggressive growth trajectory. Under the leadership of CEO and Founder Dr. Ishnella Kaur Azad, Data Journey is focused on building a more inclusive, sustainable, and scalable future for the data center industry. As the first woman and minority-owned company in this sector, Data Journey is uniquely positioned to look at the entire ecosystem, ensuring that their operations not only meet the growing demands of their customers but also promote environmentally and socially responsible practices that benefit both the company and the community. "I'm excited about the acquisition of the Spartanburg property, which marks an important step in Data Journey's expansion and our mission to provide cutting-edge IT infrastructure solutions," said Dr. Ishnella Kaur Azad, CEO of Data Journey. "This acquisition not only accelerates our growth in the South Carolina market but also strengthens our commitment to sustainable practices across all stages of our operations. The foundation laid by Greenidge at this site allows us to move quickly toward developing a state-of-the-art data center that will deliver unmatched scalability, security, and efficiency for our customers." The Spartanburg property, which spans 152 acres, offers a strategic location with significant power access, initially providing 60 MW of capacity, scalable up to 100 MW. Greenidge previously purchased the site in 2021 for $15 million, recognizing its potential as a power-rich industrial location. Following a series of transactions, including the 2023 sale of 23 subdivided acres to NYDIG ABL LLC, the property's remaining land is now poised for its next chapter as a key data center hub for Data Journey. "Data Journey's purchase of the Spartanburg site marks an exciting milestone in our growth journey," Dr. Azad continued. "We're not just building data centers; we're creating sustainable, forward-thinking infrastructure that supports our customers while minimizing our environmental footprint. As we continue to expand, we'll ensure that our practices remain centered around the long-term well-being of both our stakeholders and the communities we serve." The Spartanburg facility will serve as a cornerstone in Data Journey's broader strategy to establish six new sites by 2025, strengthening their portfolio and their ability to provide customers with scalable and secure data solutions. The site's strategic power infrastructure and development-ready capabilities will allow Data Journey to quickly bring innovative, high-performance solutions to market. Data Journey's acquisition of the Spartanburg property is expected to close in Q1 2025. Both Greenidge and Data Journey are optimistic about the potential for future collaboration and additional data center developments across the U.S. For more information on Data Journey's growth plans and commitment to sustainability, visit DataJourney.com . About Data Journey LLC Data Journey LLC is a leading woman and minority-owned data center provider, offering innovative IT infrastructure solutions designed to meet the evolving needs of modern enterprises. The company is dedicated to sustainability, scalability, and creating long-term value for its customers and the communities it serves. With a focus on cutting-edge security, power-efficient technologies, and environmental stewardship, Data Journey is committed to advancing the data center industry and providing world-class solutions for the digital age. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7f8d5880-a91c-4060-bf65-7026bac1e4e3 © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.UN nuclear watchdog board passes resolution chiding Iran
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The military's tradition of tracking Santa Claus on his gravity-defying sweep across the globe will carry on this Christmas Eve, even if the U.S. government shuts down, officials said Friday. Each year, at least 100,000 kids call into the North American Aerospace Defense Command to inquire about Santa’s location. Millions more follow online. “We fully expect for Santa to take flight on Dec. 24 and NORAD will track him," the U.S.-Canadian agency said in a statement. On any other night, NORAD is scanning the heavens for potential threats, such as last year's Chinese spy balloon. But on Christmas Eve, volunteers in Colorado Springs, Colorado, are fielding questions like, “When is Santa coming to my house?” and, “Am I on the naughty or nice list?” The endeavor is supported by local and corporate sponsors, who also help shield the tradition from Washington dysfunction. Bob Sommers, 63, a civilian contractor and NORAD volunteer, told The Associated Press that there are "screams and giggles and laughter” when families call in, usually on speakerphone. Sommers often says on the call that everyone must be asleep before Santa arrives, prompting parents to say, "Do you hear what he said? We got to go to bed early." NORAD's annual tracking of Santa has endured since the Cold War, predating ugly sweater parties and Mariah Carey classics. Here's how it began and why the phones keep ringing. The origin story is Hollywood-esque It started with a child's accidental phone call in 1955. The Colorado Springs newspaper printed a Sears advertisement that encouraged children to call Santa, listing a phone number. A boy called. But he reached the Continental Air Defense Command, now NORAD, a joint U.S. and Canadian effort to spot potential enemy attacks. Tensions were growing with the Soviet Union, along with anxieties about nuclear war. Air Force Col. Harry W. Shoup picked up an emergency-only “red phone” and was greeted by a tiny voice that began to recite a Christmas wish list. “He went on a little bit, and he takes a breath, then says, ‘Hey, you’re not Santa,’” Shoup told The Associated Press in 1999. Realizing an explanation would be lost on the youngster, Shoup summoned a deep, jolly voice and replied, “Ho, ho, ho! Yes, I am Santa Claus. Have you been a good boy?” Shoup said he learned from the boy's mother that Sears mistakenly printed the top-secret number. He hung up, but the phone soon rang again with a young girl reciting her Christmas list. Fifty calls a day followed, he said. In the pre-digital age, the agency used a 60-by-80-foot (18-by-24-meter) plexiglass map of North America to track unidentified objects. A staff member jokingly drew Santa and his sleigh over the North Pole. The tradition was born. “Note to the kiddies,” began an AP story from Colorado Springs on Dec. 23, 1955. “Santa Claus Friday was assured safe passage into the United States by the Continental Air Defense Command.” In a likely reference to the Soviets, the article noted that Santa was guarded against possible attack from "those who do not believe in Christmas.” Is the origin story humbug? Some grinchy journalists have nitpicked Shoup's story, questioning whether a misprint or a misdial prompted the boy's call. In 2014, tech news site Gizmodo cited an International News Service story from Dec. 1, 1955, about a child's call to Shoup. Published in the Pasadena Independent, the article said the child reversed two digits in the Sears number. "When a childish voice asked COC commander Col. Harry Shoup, if there was a Santa Claus at the North Pole, he answered much more roughly than he should — considering the season: ‘There may be a guy called Santa Claus at the North Pole, but he’s not the one I worry about coming from that direction,'" Shoup said in the brief piece. In 2015, The Atlantic magazine doubted the flood of calls to the secret line, while noting that Shoup had a flair for public relations. Phone calls aside, Shoup was indeed media savvy. In 1986, he told the Scripps Howard News Service that he recognized an opportunity when a staff member drew Santa on the glass map in 1955. A lieutenant colonel promised to have it erased. But Shoup said, “You leave it right there,” and summoned public affairs. Shoup wanted to boost morale for the troops and public alike. “Why, it made the military look good — like we’re not all a bunch of snobs who don’t care about Santa Claus,” he said. Shoup died in 2009. His children told the StoryCorps podcast in 2014 that it was a misprinted Sears ad that prompted the phone calls. “And later in life he got letters from all over the world,” said Terri Van Keuren, a daughter. "People saying ‘Thank you, Colonel, for having, you know, this sense of humor.’” A rare addition to Santa's story NORAD's tradition is one of the few modern additions to the centuries-old Santa story that have endured, according to Gerry Bowler, a Canadian historian who spoke to the AP in 2010. Ad campaigns or movies try to “kidnap” Santa for commercial purposes, said Bowler, who wrote “Santa Claus: A Biography.” NORAD, by contrast, takes an essential element of Santa's story and views it through a technological lens. In a recent interview with the AP, Air Force Lt. Gen. Case Cunningham explained that NORAD radars in Alaska and Canada — known as the northern warning system — are the first to detect Santa. He leaves the North Pole and typically heads for the international dateline in the Pacific Ocean. From there he moves west, following the night. “That's when the satellite systems we use to track and identify targets of interest every single day start to kick in,” Cunningham said. “A probably little-known fact is that Rudolph’s nose that glows red emanates a lot of heat. And so those satellites track (Santa) through that heat source.” NORAD has an app and website, www.noradsanta.org, that will track Santa on Christmas Eve from 4 a.m. to midnight, mountain standard time. People can call 1-877-HI-NORAD to ask live operators about Santa’s location from 6 a.m. to midnight, mountain time.This holiday season is one that Jay Wheeler and Zhamira Zambrano will cherish forever. The couple welcomed their first child together , daughter Aiuni, in September, and celebrated their first year of marriage on Dec. 2. Now, as a gift ahead of the most wonderful time of year, they are exclusively premiering the music video for their new Christmas song “Santa” on TODAY.com. The song is a melancholic tune about missing someone on Christmas and hoping to get them back. The accompanying visual is a timeless concept, with Wheeler and Zambrano elegantly dressed as they belt out the emotional lyrics on stage, apart and then together. They're also accompanied by dancers dressed in festive attire. “When people create a great Christmas song, it lasts forever,” Wheeler tells TODAY.com in Spanish about the song's inspiration. “So I told my wife, let’s make a Christmas song together so that every Christmas, people will play it when they are sad. And because we make sad songs, it had to be a sad Christmas song.” “Santa” marks the pair’s third collaboration following their hits “Dicelo” and “Extrañandote.” Zambrano adds that they opted for a different take on a holiday tune, deciding to look at the “ desamor ,” or heartbreak that many people experience during this time of year. “It’s a bittersweet song,” she says, adding she hopes their fans embrace it as much as they have their past collaborations. The couple, who have yet to show their daughter's face on social media, didn't include Aiuni in the music video — but they already have an idea of when they might. “We thought about including our daughter, but I want to include her in another song I have,” Wheeler says. The pair is excited to celebrate their baby girl's first Christmas together and host their first holidays at their new home. Wheeler shares that he made sure to put up Christmas lights specifically for his daughter. They're also looking forward to new and old traditions as a family of three. “My parents would always make us believe in El Niño Jesús and Santa, that they would come at 12 and deliver the gifts,” Zambrano says. “I always thought that was so much fun. When I found out that it wasn’t real, I was really sad because I feel like I kind of lost a little bit of that magic of Christmas. But now I get to live it all over again with my baby, and have a couple of years of making magic for her every year.” For Wheeler, he wants to make sure his daughter's first Christmas is special and memorable. “So when she’s older and sees photos, she says, ‘You did this for me?’ And I can say, ‘Yes, because it was your first Christmas.'” Calling each other “ mejores amigos ,” Wheeler says parenthood has strengthened their relationship because “nos amamos bonitos ,” adding in Spanish: “I make sure she’s OK, she makes sure I’m OK... We are always adapting to every change that comes our way.” Zambrano adds, “We are more of a team now that we have the baby, because we have to work together in order to get everything running. Right now, we’re doing a bunch of things, but since we’re doing it together, it’s a bit easier. I feel like it has helped us grow as a couple, as a team, and I just think she makes us stronger.” Fans can expect more music from the twosome, as they teased something in the works. “We love making music together,” Zambrano says. “We have a couple of songs already recorded, but we have something else in the works for that, maybe another project later on. But for now, I hope everyone enjoys this one that we did with so much love.”
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Singapore, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Staynex , the revolutionary Web3 travel and stay platform, is proud to announce the appointment of global football legend Patrice Evra as its official Travel Ambassador. This exciting partnership marks a new chapter in Staynex's mission to redefine travel experiences through cutting-edge technology and exclusive access to premium stays worldwide. A Football Icon with a Passion for Travel Patrice Evra , a celebrated figure in the world of football, boasts an illustrious career with multiple English Premier League (EPL) titles and UEFA Champions League victories. Known for his leadership, charisma, and unwavering dedication on and off the pitch, Evra served as captain for Manchester United and the French national team, becoming a global inspiration. Evra's influence extends beyond football to inspire millions globally. His passion for exploration and connecting with diverse cultures aligns perfectly with Staynex's vision of creating unforgettable travel experiences. Upcoming Staynex Event in Hong Kong As part of his role, Patrice Evra will be attending an exclusive Staynex event in January 2025 in Hong Kong. This event promises to be a unique opportunity for fans and travelers alike to engage with Evra face-to-face. Attendees can look forward to exciting announcements, exclusive content, and more details about Staynex's innovative travel solutions. A Vision for the Future "Travel has always been a way to connect with people and cultures,” said Patrice Evra. "I'm proud to be the official travel ambassador for Staynex, a brand that's transforming how we experience the world through technology. Together, we're bringing a new era of travel to life.” Staynex is also preparing to design a limited number of exclusive JetSET Passes for auction, offering unparalleled travel benefits and experiences. Further details about these passes will be revealed closer to the event date. Join the Movement Staynex continues to push the boundaries of what's possible in travel, blending blockchain technology with real-world accommodations to deliver unparalleled value and convenience. This partnership with Patrice Evra is a testament to Staynex's commitment to excellence and innovation. For more information about Staynex and its upcoming initiatives, https://www.staynex.vip About Staynex Staynex is a Web3-powered travel and stay platform that connects travelers with premium accommodations worldwide. By leveraging blockchain technology, Staynex provides seamless, secure, and rewarding travel experiences for its users. Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. CONTACT: Myrtle Anne Ramos hello at staynex.vipSave Up To 50% On GoSun’s Portable Solar-Powered Appliances (Black Friday Sale)West Ham surprise Newcastle with 2-0 away win
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