Apple offers glimpse at upcoming changes to iPhone software

Apple CEO Tim Cook poses for photos as he holds one of the new Apple MacBook Air computers with an M2 processor on June 6, 2022, during the Apple's World Wide Developer Conference in California. (AP)
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Updated 07 June 2022

Apple offers glimpse at upcoming changes to iPhone software

  • iOS 16, the iPhone’s next operating system, will revamp the look of the device’s lock screen
  • iPhone’s messaging system will allow texts to be edited after they are sent or even rescinded in their entirety if the sender has a change of heart

Apple on Monday provided a peek at upcoming tweaks to the software that powers more than 1 billion iPhones and rolled out two laptops that will be the first available with the next generation of a company-designed microprocessor.
As usual, Apple spent most of the opening day of its annual developers conference touting the next versions of software for the iPhone, iPad, Apple Watch and Mac computers instead of the sleek devices that established it as a technology trendsetter and the world’s most valuable company.
The iPhone’s next operating system, called iOS 16, will revamp the look of the device’s lock screen and make make mostly minor improvements to the current software. The software updates have become increasingly important in recent years as iPhone owners have started to hold to their existing devices for longer periods of time than they once did.
One of iOS 16’se most noticeable differences will occur on the iPhone lock screen. The new software, which will be released this fall as a free download, will allow users to anchor their favorite apps as small widgets on the lock screen.
The new software also will enable the lock screen to display live notifications, such the status of a Uber ride on its way to pick up a passenger. Other authorized notifications will come in from the bottom of the screen instead of the current distribution from the top in an effort to avoid clutter on the display.
The iPhone’s messaging system will be revamped so texts can be edited after they are sent or even rescinded in their entirety if the sender has a change of heart. Those options will only be available when both users are using Apple’s messaging app for texting.
The Apple Pay service that’s part of the iPhone’s digital wallet is adding a new financing feature likely to be popular as soaring inflation rates squeeze more household budgets. The option will allow consumers to stagger the cost of any purchase made through Apple Pay over four installments completed within a six-week period with no additional fees. Similar financing is already offered through digital services such as Affirm, whose stock price sank by more than 5 percent Monday after the news about Apple Pay came out.
Several of the new features for Apple’s Macs and iPads are designed to make it easier to sync with the iPhone for things like making video calls. Other tools will enable more apps to run side by side to perform multiple tasks on the same screen.
Helping people toggle from one Apple device to another is one of the main reasons that the company began making Macs that run on the same kind of chips that power the iPhone and iPad in late 2020.
Now Apple in putting the next generation of its Mac chip in it two most popular laptops, the MacBook Air and MacBook Pro, which the company said will be available in stores at some point next month. The MacBook Air will sell for $1,200 and the MacBook Pro will sell for $1,300.
The event was held at Apple headquarters in Cupertino, California.


Saudia to bring voice recognition technology, augmented reality on board: VP

Updated 15 sec ago

Saudia to bring voice recognition technology, augmented reality on board: VP

RIYADH: Saudia, Saudi Arabia’s national carrier, is aiming to integrate voice recognition technology and augmented reality to its services, the company announced during the second edition of the Global AI Summit held in Riyadh.

Saudia has signed an agreement, aimed at boosting artificial intelligence in the flight sector, with the Saudi Data and Artificial Intelligence Authority and the Saudi Company for Artificial Intelligence. Speaking to Arab News on the sidelines of the summit, Dr. Khaled Alhazmi, vice president of IT support and operations at Saudia, said that the agreement is the first step in introducing AI products to the airline’s services.

Alhazmi explained that the company is currently exploring voice recognition technology through one of SDAIA’s products, an app called SauTech.

“It is an amazing app; it currently gives accurate results for the recognition of the dialects of the Arabic language. And right now, we are trying to explore opportunities and use cases, to start implementing it in our services,” he said.

The company is also planning to adopt Internet of Things technology as well as augmented reality to ensure that they are first movers to implement AI into
their services.

“Our strategic direction is to build an ecosystem of partners who would enable us to digitize our services to our customers. We are aiming to deliver a first-class experience to our customers,”
he added.

Alhazmi believes that the digitalization factor currently in use at the airline such as downloading tickets to personal devices can be greatly expanded on, and
that there are huge opportunities to integrate technology into
the sector.

“We are digitizing everything under a program, which is adapting the digital first. Right now we believe that we need to put in use all the data science, all the technologies nowadays, and put them into the hands of the customer,” he said. The company wants to improve its self-service options by providing a personalized platform that will enable users to customize their journey according to their needs.

“That’s actually the main goal because we understand right now that we have a new generation of people who are more interested in technology, they are using technology every day,” he added.

Saudia has also recently partnered with agritech company Red Sea Farms to provide sustainable and high-quality meals for its customers.

“We can see that the adoption of technology in Saudi Arabia in general is getting more mature than other countries,” Alhazmi concluded.


China launches $28bn loan facility to support manufacturers

Updated 28 September 2022

China launches $28bn loan facility to support manufacturers

  • Yuan ends at weakest since global financial crisis, hits record low

BEIJING, SHANGHAI: China’s central bank said on Wednesday it has set up a relending facility worth more than 200 billion yuan ($27.59 billion) to help manufacturers and other companies upgrade their equipment, as part of a push to revive flagging demand.

The People’s Bank of China said in a statement that it will provide low-cost funds to financial institutions and guide them to lend to firms to support such upgrades. The loans will be issued on a monthly basis, and the interest rate for qualified firms will be no higher than 3.2 percent from Sept. 1, 2022 to Dec. 31, 2022, the central bank added. China’s one-year loan prime rate is currently 3.65 percent.

The lending facility will support sectors including education, health, culture, tourism and sports, electric vehicle chargers, urban underground facilities, new infrastructure and industrial digital transformation, the central bank said.

The PBoC has increasingly relied on structural, or targeted policy tools, including low-cost loans, to support the slowing economy, as it faces limited room to cut interest rates for fear of fueling capital flight and inflation.

The PBoC has rolled out relending facilities to support the transport, logistics and storage sectors that have been hit hard by COVID-19, as well as carbon emission reduction, tech innovation and elderly care.

On Sept. 14, China’s Cabinet announced steps to support equipment upgrades by companies, extending a raft of measures to bolster the COVID-ravaged economy.

Onshore yuan

China’s onshore yuan extended losses on Wednesday to end the domestic session at its lowest level against the dollar since the global financial crisis of 2008, while the offshore yuan hit a record low, pressured by expectations of more US rate hikes.

Currency traders said the yuan was reacting to broad greenback strength in global markets as the dollar hit a fresh two-decade peak against a basket of currencies, buoyed by safe-haven demand and a hawkish Federal Reserve.

In onshore markets, the yuan finished the domestic trading session at 7.2458 per dollar, its weakest such close since January 2008 and down 658 pips or 0.91 percent from previous late night close of 7.18.

The offshore yuan followed suit and weakened 1.15 percent on the day to trade at 7.2635 around 0830 GMT.

Fuel export

China may tweak a proposed sharp increase in refined fuel export quotas for this year by extending the plan into next year, as it weighs the benefits to the economy of higher exports against low domestic stocks and operational challenges, four sources told Reuters.

However, the four sources with direct knowledge of the matter — and three others — said the government was still reviewing the matter.

The market has been widely expecting China to release a fifth batch of fuel export quota of up to 15 million tons for the rest of the year, which would be its largest so far in 2022 and lift China’s sagging exports.

The proposal from refiners’ planning departments, following a government call to boost trade, has led some refiners to ready an increase in output to take advantage of the quota.


Third Jordan-Gulf Economic Forum begins in Amman

Updated 28 September 2022

Third Jordan-Gulf Economic Forum begins in Amman

  • Jordanian minister said value of trade between his country and Gulf Cooperation Council member states reached $6.6 billion in 2021

AMMAN: The third session of the Jordan-Gulf Cooperation Council Economic Forum began in Amman on Tuesday. It brings together officials and business representatives from Jordan and GCC member states to discuss opportunities for the expansion and development of economic relations, the Jordan News Agency reported.

The forum, which is taking place under the title New Horizons for Economic and Investment Cooperation, aims to advance the strategic objectives and interests of all participating nations, according to the Jordanian Ministry of Industry, Trade and Supply.

The delegates at the two-day event include businessmen, investors, the heads of trade federations and chambers of commerce, and representatives of Gulf and Jordanian government stakeholders, according to the ministry.

In his opening remarks, Youssef Shamali, the Jordanian minister of industry, trade and supply, said that the value of trade between his country and GCC member nations reached $6.6 billion in 2021. Jordanian exports to the GCC were worth $1.7 billion of that total, while Jordan’s imports accounted for $4.9 billion.

The minister added that Gulf nations are responsible for the most significant foreign investments in Jordan, and capital from the region has benefited the nation’s economy and created jobs for the Jordanian people.

He added that if Arab nations were to unite to form a powerful economic bloc, it would allow them to boost exports, increase production, create new job opportunities for young people, and achieve greater integration into the global economy.
 


ECB eyes blockchain for settling bank transactions, says official

Updated 26 September 2022

ECB eyes blockchain for settling bank transactions, says official

  • The ECB is among a number of central banks around the world working on digital versions of their currency in response to the popularity of digital tokens

FRANKFURT: The European Central Bank is studying ways of settling transactions between banks on a blockchain in a bid to keep control of money even if lenders switch to distributed ledgers, ECB board member Fabio Panetta said on Monday.

The ECB is among a number of central banks around the world working on digital versions of their currency in response to the popularity of digital tokens such as Bitcoin and the blockchain technology that powers them.

This distributed ledger technology is predicated on market participants verifying transactions and keeping a copy of them rather than relying on a trusted party, such as a central bank.

On top of a digital euro for consumers, the ECB is looking at how it could let banks settle wholesale transactions between them on a distributed ledger, rather than the central bank’s own.

“Despite the uncertainties surrounding DLT’s potential, we want to be prepared for a scenario where market players adopt DLT for wholesale payments and securities settlement,” Panetta said. 

We want to be prepared for a scenario where market players adopt DLT for wholesale payments and securities settlement.

Fabio Panetta, ECB official

He added letting banks settle among themselves or use stablecoins, which are crypto tokens pegged to a conventional currency, would result in “trading and liquidity becoming fragmented.”

Meanwhile, giving stablecoins the ECB’s backing would “outsource the provision of central bank money to private entities, endangering monetary sovereignty,” Panetta said.

As a possible solution, Panetta said the ECB might build a bridge between the private sector’s blockchain platforms and its own Target 2 settlement system.

Alternatively, it could make central bank money — the claim against the ECB in which wholesale transactions are settled — available on those platforms or create its own, he added.

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Indian currency seen at record low as dollar, US yields surge; RBI eyed

Updated 26 September 2022

Indian currency seen at record low as dollar, US yields surge; RBI eyed

  • The rupee is tipped to open at around 81.30 per US dollar, down from 80.9900 in the previous session

MUMBAI: The Indian rupee is poised to hit a new lifetime low against the US currency on Monday, as worsening risk sentiment and a tumbling pound lifted the dollar index to its highest since 2002.
The rupee is tipped to open at around 81.30 per US dollar, down from 80.9900 in the previous session.
The local unit had reached a record low of 81.2250 on Friday, prompting the Reserve Bank of India (RBI) to sell dollars, according to traders. The RBI’s intervention had aided the rupee to turn briefly higher on Friday.
“It will be another choppy and volatile session. All eyes will be on state-run banks at open,” a trader at a Mumbai-based bank said, alluding to intervention from the RBI through these banks.
“The intervention by RBI at 81.20 was quite forceful and markets will want to know if that level will be protected again,” the trader said, adding, the RBI may not be too inclined to intervene given the “carnage” across Asian currencies.
The dollar index in Asia trading climbed above 114.50, the highest since May 2002, thanks to demand for safe-haven assets and a collapsing British pound.
The pound tumbled to a record low on Monday on fears the new government’s economic plan will stretch its finances to the limit. The rout prompted speculation of an emergency response from the Bank of England.
Asian equity gauges fell by as much as 2.4 percent and futures pointed to more losses for the S&P 500 Index. The offshore Chinese yuan declined below 7.16 to the dollar and the Korean won dropped more than a percent.
Treasury yields continued to march higher, not benefiting from the risk-off sentiment. The 2-year Treasury yield reached a fresh multi-year high of 4.27 percent on bets that the Federal Reserve will continue to hike rates aggressively despite the mounting growth risks.