Technology News across the World This Week

  • The Ethiopian Space Science and Technology Institute and the Addis Ababa Science and Technology University have signed an agreement to build a satellite manufacturing and testing center in Ethiopia. Dr Abrham Belay, the Minister of Innovation and Technology, said the centre is a flagship project that will help to manufacture, assemble and test satellites.
  • East Technology applications have registered an increase in number of businesses going digital. The emergence of Covid-19, which has restricted movement of people since March, has increased appetite and emphasized the need for businesses to move online.
  • CVentures, the venture capital arm of Egypt’s largest private bank CIB (Commercial International Bank) has invested in London-based fintech Countingup, it announced in a statement to MENAbytes earlier this week. The investment was made as part of a USD 5 million bridge round raised by the British startup. CVentrues did not disclose the size of their participation.
  • Facebook is buying Giphy, and that means how you send and receive GIFs on the internet could change forever. The service claims that more than 700 million people see Giphy content every day, and many of those views come from some of the internet’s most popular apps— from Apple’s iMessage to TikTok and Twitter — most of which rely on Giphy’s API and archives to let users share and post GIFs.
  • The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies, spurring fears of Chinese retaliation and hammering shares of US producers of chipmaking equipment.
  • With the covid-19 pandemic disrupting businesses globally, technology will play a “stronger role than ever before” enabling economic recovery. COVID-19 is helping accelerate investments in cloud, AI and cybersecurity.