vehicles

Stellantis buys stake in optical radar start-up SteerLight

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Stellantis buys stake in optical radar start-up SteerLight

European carmaker Stellantis is acquiring a stake in optical radar startup SteerLight to strengthen its market position and secure access to crucial sensors for autonomous driving. This move aims to diversify the supply of lidar and speed up the development of components for its future electric fleet. Stellantis, the producer of Fiat, Peugeot, and Citroen cars, made the investment through Stellantis Ventures, though the amount was not disclosed. SteerLight, originating from France’s CEA-Leti in Grenoble, claims its lidar solutions are more compact and less expensive than competitors’. The company emphasizes that its system has no moving parts, making it robust and compact, which provides flexibility for vehicle engineers and addresses the challenges of component size and high cost in current lidar technology. Additionally, SteerLight has welcomed two other investors, Quantonation fund and Italian venture fund Liftt.

Gunmen kill more than 60 in concert attack near Moscow, Islamic State claims responsibility (updated)

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Gunmen kill more than 60 in concert attack near Moscow, Islamic State claims responsibility (updated)

Camouflage-clad gunmen attacked concertgoers near Moscow, killing at least 60 people and injuring 145. The attack, claimed by Islamic State militants, is the deadliest in Russia since the 2004 Beslan school siege. The incident occurred just before the Soviet-era rock group “Picnic” was to perform at the Crocus City Hall. Videos showed people fleeing amidst gunfire. Russian investigators confirmed the death toll, and health officials reported about 145 wounded, with 60 in critical condition. Islamic State claimed responsibility for the attack, stating its fighters caused destruction and casualties before withdrawing. The United States confirmed Islamic State’s claim and mentioned having warned Russia of a potential attack. The attack on Crocus City Hall happened two weeks after the U.S. embassy in Russia warned of an imminent extremist attack in Moscow. Russia tightened security nationwide following the incident.

Cyprus sees 30 per cent annual surge in vehicle trade and repair

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Cyprus sees 30 per cent annual surge in vehicle trade and repair

In 2023, Cyprus experienced a significant increase in its Index of Trade and Repair Activities of Motor Vehicles, with a surge of 30 per cent on an annual basis, primarily due to increased prices, especially in the used car market. The Cyprus Statistical Service reported that the index for Motor Vehicle Sales reached 193.3 units in the last quarter of 2023, marking a 42 per cent annual increase. Additionally, maintenance and repair of motor vehicles saw a 12.3 per cent increase, while activities related to the sale of parts and accessories for motor vehicles increased by 11.8 per cent. Sales, maintenance, and repair of motorcycles, along with their parts and accessories, also reported a 24.5 per cent annual increase, with the index reaching 178.2 units in the last quarter of 2023.

Gunmen kill 40 in attack at concert near Moscow, Islamic State claims responsibility

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Gunmen kill 40 in attack at concert near Moscow, Islamic State claims responsibility

At least 40 people were killed and 145 wounded when gunmen attacked concertgoers near Moscow. The Islamic State claimed responsibility for the attack. The incident occurred at the Crocus City Hall before a performance by the Soviet-era rock group “Picnic.” Verified videos showed the chaos and the attempts of people to escape the gunfire. Russia’s Federal Security Service reported the casualties, and the attack has been described as one of the deadliest on Russian soil in decades. Children were among the dead and injured. The venue experienced significant damage, including a collapsing roof and a fire. The United States, European and Arab powers, and many former Soviet republics condemned the attack. Two weeks prior to the attack, the U.S. embassy in Russia had warned of an imminent extremist attack in Moscow. Following the incident, Russia increased security measures across the country.

Government to intensify penalties, enhance firefighting measures

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Government to intensify penalties, enhance firefighting measures

On the International Day of Forests, Agriculture Minister Maria Panayiotou announced the government’s plans to submit amendments by the end of March to increase penalties for individuals causing fires. She spoke at Athalassa Park, stating that district administrations would conduct wild brush clearance by the end of May to prevent wildfires. Panayiotou emphasized the government’s focus on enhancing the forestry department’s operational readiness, infrastructure, technology, and human resources. She highlighted the introduction of technology, including drones and electromagnetic methods, for fire detection and forest surveillance, as part of the Recovery and Resilience Plan. The plan has also facilitated the acquisition of firefighting vehicles and equipment through national funds. Additionally, a coordination meeting at the Presidential Palace led to decisions on further measures for fire prevention and response, including a proposal for integrating the airborne firefighting unit into the National Guard and the reopening of the forestry college in 2025. Additional sensors for early wildfire detection are also to be installed.

2 Nissan X-Trail e-power can be yours with MyPetrolina App!

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2 Nissan X-Trail e-power can be yours with MyPetrolina App!

The MyPetrolina app offers users the chance to win one of two Nissan X-Trail e-power vehicles, each valued at €46,100, as part of a promotion running from 14th March to 6th June 2024. To participate, users must make transactions of €10 on P-EnergyMax automotive fuels at Petrolina, Agip, and Eni service stations. Each transaction qualifies as an entry into the competition. Additionally, the app allows users to collect points, redeem them for branded products, access exclusive offers, and locate nearby service stations. This promotion is exclusive to MyPetrolina app users and is part of the celebration of Nissan’s 90th anniversary.

Fire Service on alert for yellow weather warning

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Fire Service on alert for yellow weather warning

The Fire Service has increased its readiness due to a yellow weather warning for isolated thunderstorms issued by the Department of Meteorology. The warning is in effect from 11 a.m. to 5 p.m. and predicts potential localized rainfall exceeding 35 millimetres per hour, with a possibility of hail. The Fire Service, with spokesperson Andreas Kettis stating their preparedness, has equipped vehicles and an on-call team ready for emergencies. Although no weather-related calls have been received yet, the public is advised to be cautious and follow guidelines from authorities. This response follows a recent severe storm that resulted in significant property damage.

MyPetrolina app offers you chance to win Nissan X-Trail

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MyPetrolina app offers you chance to win Nissan X-Trail

The MyPetrolina app is offering its users the opportunity to win one of two Nissan X-Trail e-power vehicles, each valued at €46,100, as part of a promotion running from March 14 to June 6, 2024. Users can participate by making transactions of €10 on P-EnergyMax automotive fuels, including Unleaded 95/98, Eurodiesel, and Autogas, at Petrolina, Agip, and Eni service stations. Additionally, the app allows users to collect points, redeem them for branded products, access exclusive offers, and locate the nearest Petrolina, Agip, and Eni service stations. Participation is exclusive to MyPetrolina app users.

Disagreements stall capital statement talks

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Disagreements stall capital statement talks

MPs in Cyprus have been unable to progress on the issue of mandatory capital statements for politically exposed persons, despite months of discussions. The House ethics committee acknowledged serious gaps in reaching an agreement on who should disclose their assets upon taking office. The accountants’ association suggested that the disclosure should include a capital statement, a clear declaration of assets including those of the spouse and children, and subsequent disclosures of income and expenses to illustrate an individual’s net worth. There is some consensus on the need for reform as the current form of capital statements, which includes details like vehicle ownership, has been criticized. However, disagreements persist on the format of the statements, what information should be public, the timing of disclosures, and specifically who should be required to submit these statements. Currently, the president, ministers, MPs, and MEPs are mandated to submit capital statements under article 49 of the law, with discussions ongoing about expanding this requirement to include other positions like government spokespersons, mayors, the attorney general, and commissioners. These discussions are being led by a three-member parliamentary committee.

Nvidia, ’s dizzying rally spurs rush into AI-themed ETFs

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Nvidia, ’s dizzying rally spurs rush into AI-themed ETFs

The excitement around artificial intelligence (AI) has led to a significant increase in investments in AI-themed Exchange-Traded Funds (ETFs) in the United States, with their total value rising from .55 billion to .88 billion from the previous year to the end of February, according to Morningstar data. This surge in interest is partly due to the impressive performance of companies like Nvidia, whose shares have seen substantial growth. Nvidia, recognized for its AI chips, recently introduced the Blackwell B200 chip, which is up to 30 times faster than its predecessor. The GraniteShares 2x Long NVDA Daily ETF, which aims to deliver twice the daily return of Nvidia’s shares, saw its assets double to billion. Other smaller AI-themed ETFs, such as the Themes Generative Artificial Intelligence ETF, have also seen significant growth in assets. Morningstar tracks 18 diversified AI-related ETFs, seven of which were launched in the last three years, and one was redesigned to focus more on AI. These funds collectively attracted .68 billion in inflows over the last 12 months. The interest in AI has contributed to a nearly 8% increase in the S&P 500 year-to-date, with significant gains in AI-related companies like Nvidia and Microsoft. Some ETFs, like the Global X Artificial Intelligence and Technology ETF, limit exposure to Nvidia to manage risk, while others, like the Robo Global Robotics & Automation ETF, include companies expected to benefit from AI technology. However, not all AI-themed ETFs have been successful, with the WisdomTree US AI Enhanced Value ETF experiencing outflows of .26 million in the last 12 months and underperforming compared to the S&P 500, possibly due to a lack of positions in Nvidia and other AI-related stocks.