Business
China Tesla Rival BYD Signs $1bn Turkey Plant Deal
Chinese electric-car maker BYD has agreed a $1bn deal to set up a manufacturing plant in Turkey. The plant will be able to produce up to 150,000 vehicles a year and is expected to create around 5,000 jobs. The facility is expected to start production by the end of 2026.
The deal was signed at an event in Istanbul attended by Turkish President Recep Tayyip Erdogan and BYD’s chief executive Wang Chuanfu. The deal comes as Chinese electric vehicle makers face increasing pressure in the European Union and the US. Last week, the EU took action to protect the bloc’s motor industry by raising tariffs on Chinese electric vehicles. The decision saw BYD hit with an extra tariff of 17.4% on the vehicles it ships from China to the EU, which was on top of a 10% import duty.
Turkey is part of the EU’s Customs Union, which means vehicles made in the country and exported to the bloc can avoid the additional tariff. The Turkish government has also taken action to support the country’s car makers by putting an extra 40% tariff on imports of Chinese vehicles. In May, US President Joe Biden ramped up tariffs on Chinese-made electric cars, solar panels, steel and other goods.
BYD, which is backed by veteran US investor Warren Buffett, is the world’s second-largest electric vehicle company after Elon Musk’s Tesla. The company has been rapidly expanding its production facilities outside China. At the end of last year, BYD announced that it would build a manufacturing plant in EU member state Hungary. It will be the firm’s first passenger car factory in Europe and is expected to create thousands of jobs.
On Thursday, BYD opened an electric vehicle plant in Thailand – its first factory in South East Asia. BYD said the plant will have an annual capacity of 150,000 vehicles and is projected to generate 10,000 jobs. The company has also said it is planning to build a manufacturing plant in Mexico.
In a remarkable crew-swap mission, a SpaceX capsule successfully docked at the International Space Station (ISS) on Sunday, delivering four astronauts and paving the way for the return of two stuck astronauts, Butch Wilmore and Sunita Williams, after nine months in orbit.
The Crew-10 astronauts’ SpaceX Crew Dragon capsule launched from NASA’s Kennedy Space Center in Florida on Friday at 7:03 p.m. ET and docked at the ISS approximately 29 hours later, at 12:04 a.m. ET (0404 GMT) on Sunday. The seven-member crew of the ISS, including Wilmore and Williams, welcomed the new arrivals.
Wilmore and Williams, veteran NASA astronauts and retired Navy test pilots, have been stranded on the ISS due to problems with Boeing’s Star-liner capsule. Their return to Earth is now imminent, with a scheduled departure on Wednesday at 4 a.m. ET (0800 GMT), alongside NASA astronaut Nick Hague and Russian cosmonaut Aleksandr Gorbunov.
The Crew-10 mission has been marked by controversy, with President Donald Trump and his adviser Elon Musk, also SpaceX’s CEO, urging a quicker launch and claiming that Trump’s predecessor, Joe Biden, had abandoned Wilmore and Williams on the station for political reasons.
Despite the politics, Wilmore and Williams have continued to conduct scientific research and routine maintenance on the ISS. Williams expressed her excitement about returning home to her family and two dogs, saying, “It’s been a roller coaster for them, probably a little bit more so than for us. “The Crew-10 crew, comprising NASA astronauts Anne McClain and Nichole Ayers, Japanese astronaut Takuya Onishi, and Russian cosmonaut Kirill Peskov, will spend approximately six months on the ISS.
Business
The Rising Tide of Cyber Threats: How to Protect Your Personal Devices and Prevent Financial Loss
In today’s interconnected world, cybercriminals are be-coming increasingly adept at exploiting vulnerabilities in personal devices to extract sensitive information from unsuspecting victims. As hacking attempts grow more sophisticated, experts are sounding the alarm on the importance of adopting robust security measures to safeguard personal devices and prevent devastating financial losses. The alarming rise in cybersecurity breaches has resulted in staggering financial losses, with the International Monetary Fund reporting that losses from cyber incidents have quadrupled since 2017. While the average loss hovers around $0.5 million, severe at-tacks can have catastrophic consequences, costing companies as much as $2.5 billion once every decade.
The sheer scale of these losses reiterates the urgent need for individuals and organizations to prioritize cybersecurity and protect their personal devices from the ever-evolving threats posed by cybercriminals. As the digital landscape continues to shift and vulnerabilities are exploited, it is crucial that we adopt a proactive approach to cybersecurity, rather than simply reacting to threats as they arise. Experts agree that a multi-layered approach to cybersecurity is essential, incorporating robust security measures, regular soft-ware updates, and a healthy dose of skepticism when interacting with online content.
One of the most critical steps in protecting personal devices is to ensure that all software and operating systems are up-to-date. In addition to regular updates, it is essential to adopt robust security measures, such as fire-walls, antivirus software, and encryption. These measures can help to prevent cybercriminals from gaining access to personal de-vices and extracting sensitive information. However, even with robust security measures in place, it is still possible for cybercriminals to exploit vulnerabilities in personal devices. This is why it is crucial to adopt a healthy dose of skepticism when interacting with online content. This includes being cautious when clicking on links or opening attachments from unknown sources, as well as being wary of phishing scams and other types of social engineering attacks.
As the digital landscape continues to evolve and cyber threats become increasingly sophisticated, it is clear that cybersecurity must be a top priority for individuals and organizations alike. By adopting a proactive approach to cybersecurity, incorporating robust security measures, regular software updates, and a healthy dose of skepticism, we can help to prevent devastating financial losses and protect our personal devices from the rising tide of cyber threats.”
Cybersecurity is no longer a luxury, it’s a necessity,” said Beckham Anderson, a leading cybersecurity expert. “As cyber threats continue to evolve, it’s essential that we stay one step ahead by adopting a multi-layered approach to cybersecurity. This includes regular software updates, robust security measures, and a healthy dose of skepticism when interacting with online content. “The rising tide of cyber threats poses a significant risk to individuals and organizations alike. However, by prioritizing cybersecurity and adopting a multi-layered approach to protecting personal devices, we can help to prevent devastating financial losses and safeguard our sensitive information. As the digital landscape continues to evolve, it is crucial that we remain vigilant and proactive in our approach to cybersecurity, ensuring that we are always one step ahead of the cybercriminals.
Nigerian banks’ rush to upgrade their core banking systems has caused confusion and frustration for many customers. With banks upgrading to more secure software, the lack of communication and customer support has left millions unable to access their funds, sparking questions about the bank’s commitment to customer welfare.
Dr. Uju Ogubunka, President of Bank Customers Association of Nigeria (BCAN), emphasized the severe impact of these disruptions, stressing the need for better communication and customer preparedness during such transitions. Banks must strike a balance between technological upgrades and customer service to retain trust, especially in an economy facing devaluation pressures.
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