Emergency Meeting Held in Riyadh to Discuss Impact of Global Tech Outage

Hundreds of flights were affected at several airports around the world as a result of the global IT outage. (EPA)
Hundreds of flights were affected at several airports around the world as a result of the global IT outage. (EPA)
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Emergency Meeting Held in Riyadh to Discuss Impact of Global Tech Outage

Hundreds of flights were affected at several airports around the world as a result of the global IT outage. (EPA)
Hundreds of flights were affected at several airports around the world as a result of the global IT outage. (EPA)

The Riyadh-based Digital Cooperation Organization (DCO) said in a statement that it will hold urgent discussions with Member States and digital economy experts to address the implications of the global IT outage that disrupted vital operations around the world, affecting businesses including airlines, banks, broadcasters, software providers, and more.
In a statement reported by the Saudi Press Agency (SPA), the nine-country organization said: “The high level of impact the world witnessed as a result of the unfortunate outage is alarming and indicates the dire need for a more effective and agile international digital cooperation.
“The incident raised questions on continuity and sustainability in a world rapidly moving towards being highly dependent on digital channels and platforms. It is very crucial that the international community develops proper policies and protocols to mitigate the risks of such incidents and ensure the continuity of at least essential operations”, it added.
The DCO Secretariat General called for an urgent deliberation to “capture the lessons learned from this incident, assess its impact on national digital transformation plans, and plan practical steps to ensure that relevant stakeholders across sectors are aligned and ready to deal with such mishaps.”
The DCO is an international organization concerned with enhancing cooperation in all fields driven by innovation and accelerating the growth of the digital economy. It was established in November 2020 as part of Saudi Arabia’s efforts during its presidency of the G20 to promote the growth of the digital economy and digital transformation around the world.

 



Intuitive Surgical Results Beat on Growing Demand for Surgical Robots

Representation photo: Employees work at the office of humanoid robots developer Ex-Robots in Dalian, Liaoning province, China June 6, 2024. REUTERS/Florence Lo
Representation photo: Employees work at the office of humanoid robots developer Ex-Robots in Dalian, Liaoning province, China June 6, 2024. REUTERS/Florence Lo
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Intuitive Surgical Results Beat on Growing Demand for Surgical Robots

Representation photo: Employees work at the office of humanoid robots developer Ex-Robots in Dalian, Liaoning province, China June 6, 2024. REUTERS/Florence Lo
Representation photo: Employees work at the office of humanoid robots developer Ex-Robots in Dalian, Liaoning province, China June 6, 2024. REUTERS/Florence Lo

Intuitive Surgical on Thursday beat estimates for second-quarter profit and revenue on growing demand for its surgical robots used in minimally invasive procedures, sending its shares up 6.7% after the bell.
Investor expectations around medical device makers have grown lately on hopes of elevated demand for surgical procedures as people, especially older adults, opt for medical procedures deferred during the pandemic, Reuters said.
On an adjusted basis, Intuitive earned $1.78 per share for the quarter ended June 30, beating analysts' estimates of $1.54 per share, according to LSEG data.
The company reported quarterly revenue of $2.01 billion, compared with analysts' estimates of $1.97 billion.
The rise in revenue was driven in part by growth in the procedure volume from the company's surgical robots called da Vinci. Worldwide da Vinci procedure volumes rose about 17%, from a year ago, the company said.
Industry bellwether Johnson & Johnson on Wednesday posted a 2.2% rise in second quarter sales at its medical technology business, but fell short of analysts' estimates.
Larger peer Abbott Laboratories also raised its annual profit forecast, helped by double-digit growth in sales of its glucose monitors and strong demand for heart devices.