Albania Shuts Down TikTok for a Year amid Concerns over Violence among Children

The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
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Albania Shuts Down TikTok for a Year amid Concerns over Violence among Children

The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)

The Albanian Cabinet decided on Thursday to shut down TikTok for 12 months, blaming the video-sharing platform for inciting violence and bullying, especially among children.

Education Minister Ogerta Manastirliu said they are in contact with TikTok on installing filters like parental control and the inclusion of the Albanian language in the application.

Authorities had conducted 1,300 meetings with some 65,000 parents who “recommended and were in favor of the shut down or limiting the TikTok platform," the minister said, The AP reported.

The Cabinet initiated the move last year after a teen stabbed another teenager to death in November after a quarrel that started on TikTok.

TikTok did not immediately respond to a request to comment on the government's decision.

When Prime Minister Edi Rama said in December they were aiming at closing the social media platform, TikTok asked for “urgent clarity from the Albanian government” on the case of the stabbed teenager.

On Thursday Rama said they were in a “positive dialogue with the company” which soon would go to the country to offer “a series of measures on increasing the security for children.”

The company said it had “found no evidence that the perpetrator or victim had TikTok accounts, and multiple reports have in fact confirmed videos leading up to this incident were being posted on another platform, not TikTok.”

Albanian children comprise the largest group of TikTok users in the country, according to researchers.

There has been increasing concern from Albanian parents after reports of children being inspired by content on social media to take knives to school, or cases of bullying promoted by stories they see on TikTok.

Authorities have increased police presence at some schools and set up other measures including training programs for teachers, students and their parents.

The opposition has not agreed with TikTok’s closure and has set March 15 for a protest against the move. It said the ban was “an act of intolerance, fear and terror from free thinking and expression.”



Intel Shares Fall as Dour Forecasts Overshadow CEO’s Turnaround Promises

The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
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Intel Shares Fall as Dour Forecasts Overshadow CEO’s Turnaround Promises

The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)

Intel's shares fell more than 8% on Friday as the company's weak revenue and profit forecasts overshadowed new CEO Lip-Bu Tan's strategy to revitalize the embattled chipmaker.

Years of bad decisions have left the struggling American chipmaking icon trailing in the lucrative artificial intelligence industry, while a raging Sino-US trade war casts doubt on near-term demand for its PC processors.

Tan on Thursday gave glimpses of his plans to reanimate Intel's culture of innovation by focusing on core engineering, stripping away unnecessary administrative work and cutting workforce.

"Intel is so huge that shifting its course is like turning a battleship – it cannot be done on a dime," Evercore ISI analysts said.

Tan did not provide much detail on how he will restore Intel's leadership position in manufacturing, nor on his plans to attract more external customers to the company's foundry, J.P.Morgan analysts said.

Tan remains focused on the contract manufacturing business and has recently met rival TSMC'S CEO to discuss how the two companies could collaborate.

Executives said first-quarter sales were boosted by customers stockpiling chips as growing tariff tensions between the US and China have made buyers wary of future purchases.

Intel could also stand to benefit if China introduces certain exemptions on US imports given the company's large presence in the Asian country, Ben Barringer, global technology analyst at Quilter Cheviot, said.

AI STRATEGY IN QUESTION

Tan's comments about sharpening Intel's existing products to best suit emerging AI trends have sparked questions on how the company plans to get ahead in the booming artificial intelligence sector and challenge market leader Nvidia.

"Intel needs to streamline fast – they have a lot of investments to make to catch up in AI," Stifel analyst Ruben Roy said.

Historically, Intel has relied on buying startups to further its AI ambitions. Other than Mobileye which Intel spun out a few years ago, the other deals didn't help the company gain much traction.

"Intel should have always had its own internal solution, but it missed the boat and tried to acquire its way into AI," Anshel Sag, principal analyst at Moor Insights & Strategy, said.

One of Intel's biggest missteps was failing to capitalize on the booming demand for AI chips, allowing Nvidia to dominate the market.

Intel now faces an uphill battle in challenging AI heavyweights as it lacks the same level of GPU intellectual property, which is essential for AI workloads, Barringer added.

The company's stock has gained 7.2% so far this year, outperforming Nvidia and Advanced Micro Devices, which have fallen nearly 20% each.

Intel, however, trades at a higher 12-month forward price-to-earnings ratio of 31.37 versus 22.70 for Nvidia and 19.24 for AMD.