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Facebook changes its company name to Meta
Facebook Inc is now called Meta, the company said on Thursday, in a rebrand that focuses on building the “metaverse,” a shared virtual environment that it bets will be the successor to the mobile internet.
The name change comes as the world’s largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions and the policing of abuses on its services.
CEO Mark Zuckerberg, speaking at the company’s live-streamed virtual and augmented reality conference, said the new name reflected its work investing in the metaverse, rather than its namesake social media service, which will continue to be called Facebook.
The metaverse is a term coined in the dystopian novel “Snow Crash” three decades ago and now attracting buzz in Silicon Valley. It refers broadly to the idea of a shared virtual realm which can be accessed by people using different devices.
“Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future,” said Zuckerberg.
The company, which has invested heavily in augmented and virtual reality, said the change would bring together its different apps and technologies under one new brand. It said it would not change its corporate structure.
The tech giant, which reports about 2.9 billion monthly users, has faced increasing scrutiny in recent years from global lawmakers and regulators.
In the latest controversy, whistleblower and former Facebook employee Frances Haugen leaked documents which she said showed the company chose profit over user safety. Haugen has in recent weeks testified before a U.S. Senate subcommittee and lawmakers in the UK’s Parliament. Zuckerberg earlier this week said the documents were being used to paint a “false picture.”
The company said in a blog post that it intends to start trading under the new stock ticker it has reserved, MVRS, on Dec. 1. On Thursday, it unveiled a new sign at its headquarters in Menlo Park, California, replacing its thumbs-up “Like” logo with a blue infinity shape.
Facebook shares closed 1.5% higher at $316.92 on Thursday.
Latest News
Qatar’s Prime Minister meets with Afghanistan’s foreign minister
According to Gulf Times, the two officials reviewed the latest developments in Afghanistan and discussed ways to support the Afghan people.
Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani met with Afghanistan’s Acting Minister of Foreign Affairs Amir Khan Muttaqi who is currently visiting the country.
According to Gulf Times, the two officials reviewed the latest developments in Afghanistan and discussed ways to support the Afghan people.
Al-Thani emphasized the State of Qatar’s unwavering support for all segments of the Afghan people and its continued efforts to achieve security, stability, prosperity, and a dignified life in Afghanistan.
A source told Ariana News that Muttaqi arrived in Qatar on Sunday. No further details on his trip were given.
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WFP air services in Afghanistan may be suspended due to funding crisis
According to WFP, the organization urgently needs $10.5 million in funding to continue its relief flights in 2025.
The UN’s World Food Program (WFP) in Afghanistan has announced the possible suspension of its air services in the country due to a severe shortage of funding.
WFP is one of the largest humanitarian organizations in Afghanistan and the air services have played a vital role in transporting humanitarian aid, especially to areas difficult to reach by land.
In a message posted on X, the WFP explained that in the past, when roads were blocked, air services were the only way to deliver aid to remote areas of Afghanistan. This aid included food, medicine, and other essential items that are essential for the survival of millions of people in need in Afghanistan.
According to WFP, the organization urgently needs $10.5 million in funding to continue its relief flights in 2025.
In addition, the WFP stated that humanitarian needs in Afghanistan continue to increase and millions of people across the country are dependent on humanitarian assistance.
WFP stated that if air services are stopped, it will become very difficult, if not impossible, to deliver vital aid to areas that are not accessible by road.
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Afghanistan and Iran swap prisoners at Milak border crossing
At the same time, two Iranians serving sentences in Afghan prisons were repatriated to Iran.
Afghanistan and Iran exchanged prisoners at the Milak border crossing in south-eastern Iran on Sunday, officials confirmed.
According to IRNA, almost 200 Afghan prisoners held in Iranian prisons in Tehran, Sistan and Baluchestan and Isfahan were handed over to Afghan authorities at the Milak border in Sistan and Baluchestan.
At the same time, two Iranians serving sentences in Afghan prisons were repatriated to Iran.
Iran’s Deputy Justice Minister for Human Rights and International Affairs, Askar Jalalian, said recently that more than 4,500 foreign nationals detained in Iran had been sent to their home countries.
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