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Crypto Insight
an hour ago
- Crypto Insight
Coinbase Wallet is now Base app, a crypto ‘everything app'
US cryptocurrency exchange Coinbase is coming out with its own 'super app' after rebranding its Coinbase Wallet as 'Base app.' Coinbase unveiled its new 'everything app' on Wednesday with a video showing how it will combine a crypto wallet and trading and payment functions with social media and messaging. The new Base app was announced at the company's 'A New Day One' conference in Los Angeles. It will also support 'mini apps' running on the company's Ethereum layer-2 blockchain, Base. 'Coinbase Wallet is now the Base app, evolving from a wallet into an everything app that brings together social, apps, chat, payments, and trading,' the firm said in a blog post. Head of product for the Base app, John Granata, said that the firm has built the app to 'expand economic freedom, creativity, and innovation,' adding that Coinbase Wallet could be a starting point for a new kind of social network. He added that the app was still in beta with a waitlist and has been designed around four core experiences: a social network, a place to discover and use apps, an encrypted chat, and a trading and payments wallet. Hello from @baseapp Coinbase Wallet is now much more than a wallet. Your new home to create, earn, trade, discover apps, and chat with friends all in one place. — Base app (@baseapp) July 16, 2025 Features of Base app The new product features an open social network powered by Farcaster, where creators own their content and can earn directly from posts without follower minimums or brand deals. It also provides integrated trading where users can buy, sell, and swap supported cryptocurrencies directly within the social feed. NFC (Near Field Communication) payments enable users to tap-to-pay for instant transfers with Circle's USDC (USDC) via 'Base Pay.' Mini apps included Hundreds of embedded mini-applications for gaming, yield farming, and prediction markets are also included, and an enhanced chat provides end-to-end encrypted messaging with AI agents for trading and transactions. A 'Sign in with Base' feature will also let users carry their credentials with them for quick sign-ins into various online apps. Coinbase competing with super apps Coinbase is joining the ranks of companies such as Meta, X, Grab, WeChat and Alipay that have or are developing so-called super apps, which bundle several different web services, functionalities, and finance into a single mobile application. Base creator Jesse Pollack said it was a 'new day one for Base and our brand.' He took a selfie and posted it as the first tokenized post on the Base app. Meanwhile, the Binance Wallet X feed posted a cryptic message on Wednesday suggesting that it may also be working on something: 'Something big is coming up. Stay tuned!' Source:

Economy ME
an hour ago
- Economy ME
Oil prices rise with Brent crude up 0.1 percent above $68.50 on strong demand data
Oil prices rose on Thursday, reversing declines seen over the previous three sessions, supported by stronger-than-expected economic data from the world's leading oil consumers and indications of easing trade tensions. Brent crude futures rose by 8 cents, or 0.1 percent, reaching $68.60 a barrel at 06:30 GMT (currently trading above $68.50). Meanwhile, U.S. West Texas Intermediate crude futures increased by 16 cents, or 0.2 percent, to $66.54 (currently trading above $66.45). Both benchmarks had declined by more than 0.2 percent in the previous session. U.S. President Donald Trump stated that letters notifying smaller countries of their U.S. tariff rates would be sent out soon, and he mentioned on Wednesday that he would likely implement a blanket 10 percent or 15 percent tariff on these nations. New agreements with Indonesia and Vietnam were announced this week. Trump also expressed renewed optimism regarding the prospects of a deal with Beijing concerning illicit drugs and hinted that a trade deal with India was very close, while an agreement could potentially be reached with Europe as well. U.S. crude inventories decreased by 3.9 million barrels to 422.2 million barrels last week, according to the Energy Information Administration's report on Wednesday. This decline was steeper than the forecasted 552,000-barrel draw, indicating stronger refinery activity, tighter supply, and increased demand. The latest snapshot of the U.S. economy by the central bank, released on Wednesday, revealed that activity had picked up in recent weeks. However, the outlook was described as 'neutral to slightly pessimistic,' as businesses reported that higher import tariffs were exerting upward pressure on prices. Read more: Crude oil prices climb 0.2 percent to $68.98 amid summer demand expectations, OPEC optimism China's growth and fuel demand In the meantime, data from China indicated that growth slowed in the second quarter, but not as significantly as previously feared, partly due to front-loading to circumvent U.S. tariffs, alleviating concerns about the state of the world's largest crude importer's economy. Additional data showed that China's June crude oil throughput rose by 8.5 percent compared to a year ago, suggesting stronger fuel demand. Oil prices experienced an upswing on Wednesday, driven by expectations of robust summer demand from the world's two largest consumers, the United States and China. However, these gains were tempered by analysts' caution regarding the broader economic landscape. Prices have fluctuated within a narrow range as signs of steady demand, driven by increased travel during the Northern Hemisphere summer, contend with worries that U.S. tariffs on trading partners could hinder economic growth and fuel consumption. Brent crude futures climbed by 13 cents, or 0.2 percent, to $68.84 a barrel by 04:11 GMT. Meanwhile, U.S. West Texas Intermediate crude futures increased by 25 cents, or 0.4 percent, reaching $66.77. This rebound followed two consecutive days of declines, as the market downplayed potential supply disruptions after U.S. President Donald Trump threatened tariffs on Russian oil purchases. OPEC's optimistic outlook OPEC 's outlook remains more optimistic, according to Sachdeva, who referenced the cartel's monthly report released on Tuesday. The report projected that the global economy would perform better in the second half of the year, improving the oil demand outlook. Brazil, China, and India are exceeding expectations, while the U.S. and EU are recovering from last year, the report noted. 'The technicals may offer short-term relief, but fundamentally, the market lacks momentum,' Sachdeva remarked. 'Until clarity emerges on global growth, policy direction, and real demand recovery, especially from Asia, the crude complex looks set to drift sideways.' Oil prices declined on Tuesday following U.S. President Donald Trump's extensive 50-day deadline for Russia to conclude the Ukraine war and avoid sanctions, alleviating immediate supply concerns. Brent crude futures fell by 29 cents, or 0.4 percent, to $68.92 a barrel by 03:42 GMT, while U.S. West Texas Intermediate crude futures decreased by 35 cents, or 0.5 percent, to $66.63. Both contracts had settled more than $1 lower in the preceding session. Initially, oil prices surged due to news of potential sanctions but later relinquished these gains as the 50-day deadline sparked optimism that sanctions might be sidestepped. Traders are now assessing whether the U.S. will indeed impose steep tariffs on nations that continue to trade with Russia. On Monday, Trump announced new weapon supplies for Ukraine and indicated on Saturday that he would impose a 30 percent tariff on most imports from the European Union and Mexico starting August 1, adding to similar warnings directed at other nations. Such tariffs could impede economic growth, potentially dampening global fuel demand and exerting downward pressure on oil prices.


Zawya
an hour ago
- Zawya
GFS Developments in strategic partnership with AX Capital to lead global sales
Dubai's real estate market reached an all-time high of AED400 billion in transactions in 2024, with European markets, particularly France and Germany, showing consistent year-over-year growth. GFS Developments, a leading real estate developer headquartered in Dubai, has entered into a strategic partnership with AX Capital, a tech-first real estate brokerage based in Dubai, to lead the international sales of its select projects. The alliance will focus on optimizing global distribution channels for premium Dubai properties, including flagship projects like Coventry Gardens and Coventry 66. AX Capital will serve as the preferred global sales and marketing partner for select GFS developments, enhancing the overall investor experience. In an innovative shift away from multi-broker distribution models, this collaboration marks the beginning of a curated, brand-aligned property ecosystem that combines cutting-edge technology, regionally localized investment channels, and performance-focused sales. The partnership will see AX Capital handle the international sales and marketing of a select range of GFS developments across key global markets. These include Europe, the USA, Canada, Turkey, and South Asia. The alliance will leverage a tech-enabled, data-driven investor onboarding model, offering multilingual investment channels and legal pathways tailored to the needs of international investors. AX Capital's new, dedicated investment desks will launch in cities including London, Frankfurt, Paris, Istanbul, and Mumbai, enhancing the global reach of GFS Developments. Additionally, co-branded international roadshows, integrated CRM systems, and advanced digital funnels will help streamline investor interactions and conversion tracking. The strategic use of VR walkthroughs, AI-driven onboarding, and ROI calculators by region will further revolutionize the investor experience. 'At GFS, our mission has always been simple but bold: to create real estate that reflects global standards, local insights, and investor-first values," said Michael Collings, General Manager of GFS Developments. 'With AX's exceptional broker network and digital-first approach, and our deep development expertise and investor trust, we're not just creating a sales channel — we're creating a blueprint for how global real estate should be done in 2025 and beyond.' With a focus on enhancing investor satisfaction, the partnership introduces advanced tools such as virtual reality walkthroughs and AI chat-based onboarding, as well as legal and ROI calculators tailored to regional investment preferences. The launch of digital investment dashboards will provide German and French investors with seamless access to property information and investment performance metrics. 'At AX Capital, we've always believed that trust is earned at the intersection of performance, transparency, and service," said David James Pugh, Head of Exclusive Developments at AX Capital. "This partnership is built on a shared vision: to take the Dubai real estate experience global, and to make it smarter, simpler, and more performance-driven for investors and brokers alike." The partnership also featured a special guest appearance by actor Nawazuddin Siddiqui, who added further prestige to the occasion. His presence emphasized the growing appeal of Dubai real estate among global investors and celebrities alike. AED400 bn worth transactions Dubai's real estate market reached an all-time high of AED 400 billion in transactions in 2024, with European markets, particularly France and Germany, showing consistent year-over-year growth. The collaboration between AX Capital and GFS Developments is designed to scale in response to this demand, positioning both companies to capture an increasing share of the lucrative European, Middle Eastern, and South Asian investor market. Investors from Europe, especially the UK, France, and Germany, continue to be among the most active participants in Dubai's property market, driven by strong returns and a growing interest in mid-market luxury communities. The partnership will offer tailored solutions for these investors through geo-localized services and multilingual support. In the coming months, AX CAPITAL and GFS Developments will embark on an international roadshow series beginning in July 2025, with events scheduled across the UAE, UK, and France. The roadshows will showcase the developments under the GFS-AX partnership, allowing investors from these regions to explore key projects in Dubai. Additionally, both companies will open the first-ever GFS x AX Investor Lounge in Dubai, an innovative space designed to enhance the investor experience with live project presentations, legal advisory services, and more. About GFS Developments GFS Developments, a leading real estate developer headquartered in Dubai, with over 25 years of experience in delivering mid-market luxury communities. Known for its structured payment plans and innovative property developments, GFS serves investors across the UAE, the UK, Saudi Arabia, and South Asia. The company specializes in creating world-class properties designed for the modern investor. About AX Capital AX Capital is a tech-first real estate brokerage based in Dubai. The company employs a performance-led global sales model that combines high-conversion strategies with cutting-edge technology. Known for its multilingual teams and dedicated investor advisory desks, AX CAPITAL is committed to providing innovative solutions to investors across Europe, MENA, and Asia. For media inquiries, please contact Mobile : Dubai , United Arab Emirates