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Elon Musk announces new AI startup



Tesla boss Elon Musk has announced the formation of an artificial intelligence startup.

The new company is called xAI, and includes several engineers that have worked at companies like OpenAI and Google.

Mr Musk has previously stated he believes developments in AI should be paused and that the sector needs regulation.

He said the start-up was created to “understand reality”.

It is unclear how much funding the entity has, what its specific objectives are or what kind artificial intelligence the company wants to focus on.

The company’s website says the goal of xAI is to “understand the true nature of the universe.”

The new firm will host a Twitter Spaces chat on Friday, which may reveal further details about its aims.

Elon Musk was the one of the original backers of OpenAI, which went on to create the popular large language model ChatGPT, which has – often controversially – become popular for uses such as assisting students with writing homework.

However, the billionaire’s relationship with the company has soured. He has criticised ChatGPT for having a liberal bias.

“What we need is TruthGPT”, Mr Musk tweeted in February.

He also disagrees with how ChatGPT has been run – and its close relationship with Microsoft.

“It does seem weird that something can be a nonprofit, open source and somehow transform itself into a for-profit, closed source,” Musk said in a CNBC interview.

In March Mr Musk signed an open letter calling for a pause to “Giant AI Experiments”, which to date has around 33,000 signatures.

In an interview with the BBC in April Mr Musk said he had been worrying about AI safety for over a decade.

“I think there should be a regulatory body established for overseeing AI to make sure that it does not present a danger to the public”, he said.

Mr Musk has also pitted himself against AI companies due to the data they use to train chatbots – the software that learns how humans interacts by scraping masses of data from various sources to fuel its knowledge and interaction styles.

The billionaire believes vast amounts of Twitter’s data is scraped from the platform, and that the company should be adequately compensated.

Mr Musk purchased the microblogging platform in a deal worth billions, before making sweeping changes which led to many leaving the platform in protest, including the producer of shows such as Grey’s Anatomy and Bridgerton, Shonda Rhimes, as well as model Gigi Hadid and comedian and actor Stephen Fry.

(BBC News)


Indigo launches Mumbai-Colombo direct flights




Indigo has expanded its connectivity to Sri Lanka adding Mumbai-Colombo direct flights from today (12), Airport and Aviation Services (Sri Lanka) (Pvt) Limited said.

Accordingly, Indigo will operate flights three times a week on Tuesdays, Thursdays and Fridays.

At present, Indigo operates to three destinations in India from Colombo (Chennai twice daily, Bengaluru once daily and Hyderabad six days per week). With this new route expansion, this will increase to four destinations, and it will contribute immensely to the development of travel, trade and tourism between Sri Lanka and India. 

With the new addition, Indigo will operate 30 weekly flights to Colombo from four main cities in India.

“AASL recently had successful negotiations with Indigo to commence flight operations between Jaffna and Chennai, India. Accordingly, Indigo will commence direct flight operations between Jaffna and Chennai from June 1, 2024 onwards with daily flight operations. This connectivity will boost travel and trade in the Northern Province, strengthening the cultural and religious bonds between the two nations”, Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) (Pvt) Limited (AASL) said.

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Questions raised on investing in the Ceylon Dollar Bond




Personal Foreign Currency Accounts (PFCs) and Business Foreign Currency Accounts  (BFCAs) cannot be invested in the Ceylon Dollar Bond Fund, says a spokesman of the Foreign Exchange Department at the Central Bank of Sri Lanka.

He said that banks are well aware of this.

The spokesman was responding to ‘Sri Lanka Mirror’ on queries raised on social media promotions being done by Ceylon Asset Management Co. Ltd, with regard to such investments.

Ceylon Asset Management Co. Ltd. is also a company that is registered with the CSE.

The spokesman further notes that the CBSL has only permitted them to invest in ISBs.

However, promotions done by the company have indicated that dollar investments can also be done through PFCs, and that the investors can expect around a 24% dollar returns.


Experts state that expecting such high profits in ISB investments, is questionable.

Upon contacting the DG of Ceylon Asset Management Co. Ltd, – Dulindra Fernando, he briefly stated that the CBSL has permitted their company to do such foreign fund transfers while some banks have refused to do so.

However, he urged to submit a formal request via email for further details.

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SLT divestiture allowed




The Court of Appeal yesterday vacated the Interim Order issued on the divestiture of the Sri Lankan Government-owned shares in Sri Lanka Telecom PLC.

The Interim Order was earlier issued by Court on April 4 when two Writ applications challenged the proposed divestiture of the Sri Lankan Government-owned 50.23 percent shares in Sri Lanka Telecom PLC and 51.34 percent shares in Lanka Hospitals Corporation PLC.

The petitions were filed by Lyca Mobile SARL, Lyca Leasing Holding Ltd, Pettigo Comercio International LDA and HAIMS International Ltd.

When the petitions were considered before Court of Appeal Judge Mohammed Laffar, Additional Solicitor General Sumathi Dharmawardena appearing for the Deputy Director General and the members of the State Owned Enterprise Restructuring Unit Established under the Finance Ministry, Secretary to the Treasury and the Attorney General raised preliminary objections highlighting several technical errors in the power of attorney and the affidavit submitted is not valid.

Accordingly, the court vacated the said Interim Order on the divestiture of Sri Lanka Telecom PLC and informed the petitioner of this particular petition to submit fresh power of attorney by April 29 and request for an interim order if necessary. However, the Interim Order issued on the divestiture of the shares of Lanka Hospitals Corporation PLC was extended by the court until April 29.


(This story, originally published by has not been edited by SLM staff)

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