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Nokia to stop doing business in Russia

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Telecoms equipment maker Nokia (NOKIA.HE) is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson (ERICb.ST), which said on Monday it was indefinitely suspending its business in the country, Reuters reported.

According to Reuters hundreds of foreign companies are cutting ties with Russia following its Feb. 24 invasion of Ukraine and after Western sanctions against Moscow.

While several sectors, including telecoms, have been exempted from some sanctions on humanitarian or related grounds, Nokia said it had decided that quitting Russia was the only option.

"We just simply do not see any possibilities to continue in the country under the current circumstances," CEO Pekka Lundmark said in an interview.

He added Nokia would continue to support customers during its exit, and it was not possible to say at this stage how long the withdrawal would take.

Nokia is applying for the relevant licences to support customers in compliance with current sanctions, it said in a statement.

Both Nokia and Ericsson made a low single-digit percentage of sales in Russia, where Chinese companies such as Huawei (HWT.UL) and ZTE (000063.SZ) have a bigger share, read the report.

Nokia does not expect this decision to impact its 2022 outlook but said it would lead to a provision in the first quarter of about 100 million euros ($109 million).

Russia is also at loggerheads with Finland and Sweden, the home countries of Nokia and Ericsson respectively, over their interest in joining the NATO military alliance, Reuters reported.

Russia had also been pushing for companies to start building networks using only Russian equipment, seeking to persuade Nokia and Ericsson to set up factories in the country.

Lundmark said Nokia would not implement a plan announced in November to set up a joint venture with Russia's YADRO to build 4G and 5G telecom base stations.

Nokia's decision to leave Russia will affect about 2,000 workers, and some of them might be offered work in other parts of the world, Lundmark said.

Nokia has about 90,000 employees globally, Reuters reported.

"A lot would have to change before it will be possible to consider again doing business in the country," Lundmark said.

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Russia fines Google more than the world’s total GDP over YouTube bans

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Russia has fined Google $2.5 decillion after the US tech giant took action against pro-Kremlin TV channels on YouTube following Moscow’s invasion of Ukraine.

Russia imposed a daily fine four years ago - a fine that has since swelled to an unprecedented level - ($20,000,000,000,000,000,000,000,000,000,000,000 - a 33-digit figure).

To put this into perspective, global GDP reaches an estimated $110 thousand billion (12-digit figure), according to the IMF.

Speaking to Russia’s TASS news agency, one expert, Roman Yankovsky from the HSE Institute of Education, said Google “clearly will not pay this penalty, and the Russian Federation will not be able to recover this money from the company."

Euronews reported that a short calculation shows that he is right.

Google's holding company, Alphabet, has a market capitalisation of slightly more than $2 trillion. Even with earnings of $80.54 billion from the last quarter, the tech giant doesn’t seem to be able to afford to pay the fine.

Google first barred pro-Moscow channel Tsargrad TV, which is owned by oligarch Konstantin Malofeev, four years ago.

At the time, Google was fined a daily penalty of 100,000 roubles and warned that amount would double every 24 hours if it went unpaid.

The original fine has been compounded by further penalties after Google eventually blocked a total of 17 Russian TV channels as a result of international sanctions, The Telegraph reported.

The tech giant now owes a staggering $2.5 decillion.

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Apple launches new iPad mini with AI features

Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.

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Apple on Tuesday launched its new generation of the iPad mini packed with AI features including writing tools and an improved Siri assistant, as the iPhone maker races to boost its devices with artificial-intelligence capabilities, Reuters reported.

The new iPad mini is powered by Apple's A17 Pro chip, which is used in the iPhone 15 Pro and Pro Max models. With a six-core central processing unit, the A17 Pro would boost CPU performance by 30% compared to the current generation iPad minis and is central to running Apple Intelligence, Apple's AI software.

Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.

The features will be available for iPads with A17 Pro or M1 chips and later generations, Apple said, adding it will roll out additional features including image-generation tools, Genmoji and ChatGPT-powered capabilities over the next several months, read the report.

Apple in September unveiled its long-awaited, AI-boosted iPhone 16 lineup, but with the AI features still in test mode, the company failed to excite some investors while early sales data raised some questions around demand.

Still, research firm Canalys on Monday said the iPhone 16 would help Apple's sales in the fourth quarter and drive momentum into the first half of 2025, after Apple reached a record high third-quarter shipments.

The iPad mini, starting at $499, is available for pre-orders starting on Tuesday and will begin arriving to customers and Apple store locations next week, Apple said.

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Science & Technology

Iran sends satellites to Russia for rocket launch

In September, Iran carried out its second satellite launch this year using a rocket built by its Revolutionary Guards

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Iran has sent two locally made satellites to Russia to be put into orbit by a Russian space vehicle, the semi-official news agency Tasnim reported on Saturday, in the latest space cooperation between the two U.S.-sanctioned countries.

The development of Kowsar, a high-resolution imaging satellite, and Hodhod, a small communications satellite, is the first substantial effort by Iran's private space sector, the report said.

Russia sent Iranian satellites into orbit in February and in 2022, when U.S. officials voiced concern over space cooperation between Russia and Iran, fearing the satellite will not only help Russia in Ukraine but also help Iran monitor potential military targets in Israel and the wider Middle East, Reuters reported.

Kowsar could be used in agriculture, natural resource management, environmental monitoring, and disaster management, Tasnim said.

Hodhod is designed for satellite-based communications and could be used in remote areas with little access to terrestrial networks.

In September, Iran carried out its second satellite launch, this year using a rocket built by its Revolutionary Guards. 

The launch came as the United States and European countries accuse Tehran of transferring ballistic missiles to Russia that could be used in its war with Ukraine. Iran has denied this.

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