Saudi Arabia, Singapore Discuss Ways to Enhance Technological Cooperation

The president of SDAIA met with the Singaporean Minister for Communications and Information in London. SPA
The president of SDAIA met with the Singaporean Minister for Communications and Information in London. SPA
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Saudi Arabia, Singapore Discuss Ways to Enhance Technological Cooperation

The president of SDAIA met with the Singaporean Minister for Communications and Information in London. SPA
The president of SDAIA met with the Singaporean Minister for Communications and Information in London. SPA

President of the Saudi Data and Artificial Intelligence Authority (SDAIA) Dr. Abdullah bin Sharaf Al-Ghamdi has met with the Singaporean Minister for Communications and Information, Josephine Teo, on the sidelines of the Artificial Intelligence (AI) Safety Summit in London.

During the meeting Thursday, topics related to AI technologies and ways to enhance joint cooperation between the Kingdom and Singapore in the fields of these advanced technologies within the framework of Saudi Vision 2030 were discussed.



Samsung Expects a 56% Drop in Q2 Operating Profit, Far Short of Estimates

The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, on July 4, 2016. (Reuters)
The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, on July 4, 2016. (Reuters)
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Samsung Expects a 56% Drop in Q2 Operating Profit, Far Short of Estimates

The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, on July 4, 2016. (Reuters)
The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, on July 4, 2016. (Reuters)

Samsung Electronics on Tuesday projected a 56% drop in second-quarter operating profit from a year earlier, missing analysts' estimates by far.

Its chip business struggled with weak sales of artificial intelligence chips, dogged by delays in the supply of its latest chips to Nvidia and continued losses in its contract chip manufacturing business, analysts said.

The world's largest memory chipmaker estimated an operating profit of 4.6 trillion won for the April-June period, versus a 6.2 trillion won LSEG SmartEstimate.

That would compare with 10.4 trillion won in the same period a year earlier and 6.7 trillion won in the preceding quarter.

Revenue would likely fall 0.1% to 74 trillion won from a year earlier, the filing showed.

Samsung is expected to release detailed results, including a breakdown of earnings for each of its businesses, in late July.