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Japan’s Sumitomo set to invest $100m in Egypt. 1 other story and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today

1. Japan’s Sumitomo set to invest $100m in Egypt

A Japanese company, Sumitomo Electric Wiring Systems, has obtained the Golden license with plans to invest $100m in Egypt to expand its electric wire factory.

Egypt’s CEO of the General Authority for Investment and Free Zones, Hassan Hamed confirmed the investment plans in a statement on Wednesday.

Ripples Nigeria gathered that Sumitomo obtained the license to build the world’s largest factory for the manufacturing of electrical wiring harnesses for vehicles with investments at US$100 million.

Sumitomo Corporation Group bills itself as one of the largest manufacturers of electric car wiring harnesses in the world.

The license, according to Hamed, is a combined license for all permits necessary to establish and operate projects.

He noted that 13 golden licences have been granted to companies and that 40 applications for obtaining a golden license are currently being studied.

Tech Trivia: Which of the following is another name for a Web address?
Answer: see end of post

Read also:Scalo Technologies to invest $100M in Mena startups. 2 other stories and a trivia

2. OpenAI announces $20,000 bounty for reporting bugs

OpenAI has announced a $20,000 bounty to users for reporting vulnerabilities in its systems.

The firm behind chatbot sensation ChatGPT disclosed this in a media release seen by Ripples Nigeria on Wednesday.

According to the release, the OpenAI Bug Bounty program will offer rewards to people based on the severity of the bugs they report, with rewards starting from $200 per vulnerability.

The tech company announced a “$200 – $6,500 per vulnerability” and “Up to $20,000 maximum reward.”

The action was taken shortly after Italy suspended ChatGPT for allegedly violating privacy laws, which prompted regulators in other European nations to look examine generative AI firms.

In order to incentivize programmers and ethical hackers to report bugs in their software systems, technology corporations frequently deploy bug bounty schemes.

Trivia Answer: URL

Stands for “Uniform Resource Locator.” A URL is the address of a specific webpage or file on the Internet.

By Kayode Hamsat

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