Charge tourists to access Notre-Dame in Paris, French minister proposes

Dati suggested “that visitors from outside the EU pay more for their entry tickets” to the Louvre — home to some of the world’s most famous paintings, including the Mona Lisa — to secure funds to renovate other French attractions.

Likewise, she has “made the Archbishop of Paris a straightforward proposal: introduce a symbolic fee for all tourist visits to Notre-Dame, and devote the funds entirely to a major plan to safeguard our religious heritage.”

“With just €5 per visitor, we’d raise €75 million a year. Thus, Notre-Dame de Paris would save all the churches in Paris and France,” she added.

The reopening of Notre-Dame, which was closed to the public after a catastrophic fire in 2019, is scheduled for Dec. 8.

Budget 2024 latest: Reeves to unveil plan to rip up debt rules and unlock £50bn at IMF in Washington

Keir Starmer refuses to rule out raising national insurance contributionsYour support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseRachel Reeves will announce Labour’s first Budget since coming into power on 30 October, leading one of the most anticipated fiscal events in over two decades.Ahead of her announcement, the chancellor has ventured to the US to attend the International Monetary Fund’s (IMF) annual meeting in Washington. It is expected that she will announce a plan to change Britain’s debt rules at the event, unlocking up to £50bn extra to spend on infrastructure projects.There has been weeks of speculation about the changes, which some experts have said run the risk of flouting a key Labour manifesto commitment.Speaking ahead of the IMF event on Wednesday, Ms Reeves said: “A Britain built on the rock of economic stability is a Britain that is a strong and credible international partner.“I’ll be in Washington to tell the world that our upcoming budget will be a reset for our economy as we invest in the foundations of future growth.”We’ll be bringing you all the latest updates ahead of the big event on 30 October here, on The Independent’s liveblog.Show latest update 1729761217How could a change to debt rules ‘unlock’ £50bn for Labour?Rachel Reeves will reportedly unveil a major change to Labour’s fiscal rules at the budget on 30 October by borrowing billions for infrastructure investment.Following weeks of speculation, the chancellor will reveal her plans to change Britain’s debt rules at the International Monetary Fund’s (IMF) annual meeting in Washington on 24 October.There’s a few ways she could do this – here’s everything you need to know:Albert Toth24 October 2024 10:131729759942Reeves confirms disposable vape ban as new taxes still on the cardsThe sale of disposable vapes will be banned in England and Wales from next year.Under legislation laid out by the Labour government in Parliament, it will be illegal for retailers to sell the devices from 1 June 2025.It has been reported that Rachel Reeves is also considering raising the tax further as part of her Budget to be unveiled at the end of the month.Labour has already outlined its ambition to reduce the amount of young people smoking or vaping, bringing in new rules as part of the Tobacco and Vapes Bill.Albert Toth24 October 2024 09:521729749600ICYMI: Reeves considers ‘Amazon tax’ in business rates reform driveThe chancellor is reportedly considering a new ‘Amazon tax’ that would see business rates paid my online tech giants increased.Industry sources understand that a consultation will be launched after Ms Reeves announces the Budget on 30 October. This means the plans may get a mention.It comes after Labour wrote in its manifesto that it would reform the business rates system to “level the playing field between the high street and online giants.”The manifesto added that the current system “disincentivises investment, creates uncertainty and places an undue burden on our high streets.”Albert Toth24 October 2024 07:001729738800Budget rumours: Inheritance Tax reformInheritance tax is a levy on the estate of someone who has died. This is their property, money and possessions. Crucially, it is not paid if the value of these things is below £325,000.The tax rate is 40 per cent, but it’s only charged on the part of the estate that’s above the threshold. In 2023/24, only 5 per cent of deaths generated an inheritance tax bill, raising around £7 billion.However, the IFS writes that the tax measure “is littered with special exemptions”. These include a business relief, the ability to pass on agricultural land tax-free, and the tax-free passing on of pension pots.The economic think tank says that ending these measures alone would raise £4.8bn a year by 2029.Albert Toth24 October 2024 04:001729728000ICYMI: Rachel Reeves boosted by big drop in inflation as she seeks £40bn in Budget tax risesRachel Reeves has been boosted by a sharp drop in inflation as she seeks to find £40bn of tax hikes and spending cuts in this month’s Budget.The chancellor will welcome the dip, which saw inflation fall under the Bank of England’s 2 per cent target for the first time in more than three years, as she prepares for what promises to be a brutal Budget.Albert Toth24 October 2024 01:001729717200Budget rumours: Taxing pension savingsPension tax relief is a reduction of the amount of tax paid on private pensions. It helps workers save for retirement by boosting their pension pots.The amount of tax relief a person is granted is based on their income tax. It will effectively cancel out tax on pension contributions up to a maximum of £60,000.After this, contributions will be taxed at either 20, 40, or 45 per cent, depending on which income tax rate the worker falls into.However, the chancellor is thought to be considering a flat 30 per cent pension tax relief rate. This would mean that higher earners would effectively pay 10 per cent in tax, while those on the additional rate would pay 15.The measure would raise around £3 billion a year, with 7 million earners paying more tax. But it would be better news for basic rate earners, who would actually begin to receive a 10 per cent boost to their pension contributions.Evaluating the idea last year, the IFS said it would “redistribute the burden of taxation from the bottom 80 per cent to the top 20 per cent of earners.”Albert Toth23 October 2024 22:001729706400ICYMI: Millionaires urge Reeves to raise £14bn from capital gains tax changes at BudgetIn a report by the IPPR think-tank, analysts have consulted with wealthy entrepreneurs who say higher CGT would not have stopped them from making investments in the UK.Albert Toth23 October 2024 19:001729695600Budget rumours: Capital Gains reformCapital Gains Tax (CGT) is paid on the profit made when an asset which has increased in value is sold. It is applied to things like the sale of personal possessions worth more than £6,000 (apart from a car), property that’s not the seller’s main home, shares and business assets.It is charged at 10 or 18 percent for basic rate taxpayers, and 20 or 24 for higher or additional rate earners. There is a tax-free allowance of £3,000.There are several ways CGT could be changed. In the run-up to the election, the Lib Dems and Greens both said they would rethink the tax bands to be more similar to income tax, raising an estimated £5.2bn a year.Albert Toth23 October 2024 16:001729691065ICYMI: Wes Streeting warned inflation-busting NHS Budget deal will not be enoughFears have been raised that Wes Streeting’s inflation-busting funding deal for the NHS will not be enough for him to pay for the reforms he wants to drive through.Sources have told The Independent that the Department for Health and Social Care is set to get about 4 per cent – between £7bn and £8bn – as Mr Streeting confirmed that he has mostly agreed his settlement with chancellor Rachel Reeves. Inflation is currently running at 1.7 per cent.David Maddox23 October 2024 14:441729687555Could the chancellor introduce an ‘Amazon tax’?The chancellor is reportedly considering a new ‘Amazon tax’ that would see business rates paid my online tech giants increased.Industry sources understand that a consultation will be launched after Ms Reeves announces the Budget on 30 October. This means the plans may get a mention.It comes after Labour wrote in its manifesto that it would reform the business rates system to “level the playing field between the high street and online giants.”The manifesto added that the current system “disincentivises investment, creates uncertainty and places an undue burden on our high streets.”Albert Toth23 October 2024 13:45

26 Travel Products For People Who Are Dead-Set On Only Bringing A Carry-On

The card includes an eyeglass screwdriver, letter opener, nail puller, ruler, bottle opener, can opener, box opener, cellphone stand, hex-head nut and bolts, screwdrivers, and a fruit peeler. Reviewers say t is TSA-approved, but some had to remove it from their bag and put it on the belt by itself just to be safe. Promising review: “This is definitely helpful to have on hand! The Ninja is small and slim but punches above its weight class in terms of usefulness. The tools are all things you might find yourself searching through a drawer for and are useful in a pinch. It fits comfortably in your wallet and will help you open a beer or tighten a screw. The coolest feature that I couldn’t find on most other similar products was the credit card phone stand. It is great for planes and other travel applications (I haven’t had trouble bringing this on a plane anywhere I have traveled, FYI).”—Mary”I bought this as a gift for my husband. I can’t tell you how many times this little card has come in handy. We take it with us when we travel and we always end up using it.” —Andy Aguirre Get it from Amazon for $14.98+ (also available in packs of two, three, and five).

Commemorating Lenin: Electricity, Logic and Science

This year is Comrade V I Lenin’s death centenary year. For those who are socialists and communists, the Soviet Union was the hope of founding a new society in which the working people, and not the capitalist or the feudal classes, would own the means of production. For many, the Soviet Union gave hope for a different social order and the possibility of national liberation from the clutches of the colonial rulers. The Bolshevik Revolution changed the capitalist and the colonial world, giving birth to the possibility of a world without greed and oppression, where those laboured would get the fruits of their labour. Not a set of parasitic classes who had very little contribution to production.But this is not what I want to write today. I will address two very different aspects of Lenin’s contribution which may not be so well-known: i) the electricity sector and its larger role in society, ii) science and philosophy. I will address only a few of the issues he grappled with and how these issues continue today, though in different forms.
In both these fields, Lenin not only had views but was also an active participant in shaping the views of his generation. In the electricity sector, he saw the future of industrialisation and agriculture in the Soviet Union. So much so that he declared that the Soviets and electrification equalled socialism; this was not simply a slogan but a deeply thought-out structure of the relationship he was proposing between the economy, the productive forces and knowledge. That, for him, included both science and technology—and the peoples’ organisations: at that time, the Soviets.
The second addresses the new physics—relativity and quantum mechanics—both of which created problems not only for classical physics but also all the existing philosophical systems. Not surprisingly, not only were the old-school philosophers divided, but also the Marxists, many of whom dismissed both relativity and quantum mechanics as bourgeois deviations.
For Lenin, it was not simply a question of interpretation of reality within the framework of dialectical materialism but also one of how to enlarge the framework itself to meet these new challenges. Though he had published his initial work, Materialism and Empirio-criticism, and is widely known, his Philosophical Notebook, which advanced his formulations over his earlier work, remains as notes.
Though published later in the Soviet Union and available to all interested people, we miss the final form his notes would surely have taken due to his early death in 1924 at the age of 53.
Let us start with the story of the Soviet Union’s electrification. At the time the Bolshevik Revolution took place—in 1918—the Soviet Union had an installed capacity of only 4.8 MW, catering at best to a few cities. What Lenin and the Communist Party recognised was that without large-scale electrification, neither industries nor agriculture would develop. Agriculture needed both irrigation and manufacturing to produce agricultural implements. This was why he said that the Soviets plus electrification was equal to socialism. For him and the Bolshevik party, that meant not just importing machines but also manufacturing them. The first target of industrialisation, therefore, was the electricity sector itself.
In November 1920, Lenin identified electricity as Russia’s path to communism: “Communism is equal to Soviet power plus the electrification of the entire country”. The declaration signified the Communist Party’s approval of a plan forwarded by GOELRO, The State Commission for the Electrification of Russia, composed of engineers and scientists.
Lenin repeated his understanding of electricity and its importance to the Bolshevik Revolution in his address to the Third Congress of the Comintern (1921):
“A large-scale machine industry capable of reorganising agriculture is the only material basis that is possible for socialism… We had to undertake the scientific work of drawing up such a plan for the electrification of the USSR…with the cooperation of over two hundred of the best scientists, engineers and agronomists in Russia. Arrangements have now been made to convene an all-Russia congress of electrical engineers in August 1921 to examine this plan in detail, before it is given final government endorsement.”
A number of later bourgeois scholars, including post-modernists, have tried to present Lenin as a mechanistic materialist who sought to strait jacket science within a utilitarian framework of technology. What they fail to understand is that Lenin was proposing an alliance of the technical workers with the peasantry for the two-fold purpose of rapid industrialisation of Russia and expanding its agriculture.
The technical intelligentsia—engineers and scientists—also allied with the revolutionary forces through this programme of expanding the fledgeling electricity sector. It was not simply expanding electrification but also developing the ability to build the machines that would produce electricity: the hydro-turbines.  This is what Marx called the Department 1 of the industry, the ability to build the machines themselves that produce other artefacts/goods. Hydroelectric power would supply electricity to the people and the industries, and the dams would provide water to irrigate the peasants’ fields. The alliance of the workers and peasants would be built around the hydroelectric projects themselves.
Lenin’s slogan of Soviets plus electricity was a political slogan as much as it was a techno-economic one. It became the backbone of the industrial development of the Soviet Union, as without electricity, no large-scale industrialisation would have been possible. It also built up a cadre of workers and technologists who would power the industrialisation of the Soviet Union.
Interestingly, the electricity sector in India was also the arena in which Nehruvian, the socialist-communist and the Ambedkarite vision also came together in post-Independence India. Just as Lenin had identified the electricity sector and hydroelectric projects as the core of the socialist project, so did Nehru and Ambedkar.
As we know, Nehru declared hydroelectric projects as the “temples” of modern India, though he also later thought of many small dams and small industrial projects as an alternative to a few large projects (When the big dams came up: The Hindu, March 20, 2015).
What is less known is Ambedkar and his pioneering efforts as the Chairman of the Policy Committee on Public Works and Electric Power in 1943, and drafting of India’s Electricity Act in 1948. He, as the architect of the Act, envisaged that electricity was an essential necessity, needed to be in the public sector and kept free of profit-making (Ambedkar’s Role in Economic Planning Water and Power Policy, Sukhdeo Thorat, Shipra Publications, 2006). He also defined himself as a socialist, though not a Marxist (India and Communism, B.R. Ambedkar, Introduction by Anand Teltumbde, Leftword Books).
Remembering Lenin, we not only have to remember his many-sided contributions to political action and building a revolutionary party but also his contribution to philosophy, including the philosophy of science.
His first major philosophy of science work was Materialism and Empirio-criticism, in which he criticises those who uncritically accepted the Copenhagen interpretation of quantum mechanics. Undoubtedly, quantum mechanics and the theory of relativity posed serious challenges to all philosophical schools. This is the nature of any major scientific advance. It not only challenges the knowledge of nature that we have, but also the philosophies of nature that we build on such an understanding of nature.
Just like the heliocentric world, the discovery of the quantum world and the relativistic nature of the world, shook up the philosophical world. Philosophers refused to accept Einstein’s theory of relativity, arguing that Einstein did not understand the philosophical nature of time, to which Einstein’s reply was he only understood the time that could be measured and not philosophical time.
This was reflected in a major debate between Einstein and Henri Bergson in Paris (The Physicist and the Philosopher, Jimena Canales, 2015). Though history would show that Einstein’s vision of time was objective, unlike subjective time for Bergson, Bergson’s view prevailed on the Nobel Committee, which gave Einstein the Nobel Prize for the photoelectric effect and not for relativity, for which he became world-famous, keeping in mind, “…that the famous philosopher Bergson in Paris has challenged this theory”.
Lenin’s Philosophical Notebooks, though not written as a book but as notes to himself, makes clear that he had moved beyond his earlier formulation of sense perception of the external world as a “reflection”. However, the critics of his Material and Empiro Criticism condemn it wrongly as being crude materialist based on this formulation alone. This is on par with condemning Engels as a crude materialist as opposed to Marx as the “correct” materialist.
Though Lenin always recognised that scientific laws are only partial and “fallible”, his understanding of motion itself as—being in two places simultaneously—as dialectical and cannot be captured by binary (yes/no) Aristotelian logic. This is enunciated clearly in the Notebook. Though many multi-valued logic formulations exist, an exposition of dialectical logic that can replace Aristotelian binary logic and yet retain the mathematics built on this structure of Aristotelian logic remains a challenge. In other words, Zeno’s paradox of why Achilles cannot catch a tortoise still remains a problem in the current paradigm of mathematical logic, even though we are fully aware that Achilles will overtake the tortoise!
We should be happy that Lenin has left us many more problems than what he has solved, both in revolutionary practice, history, economics and philosophy. This is our challenge, and a challenge all living science and philosophy should have. Others are dogmas that need to be discarded to understand the dynamics of nature and society.

Former Baidu AI Scientist’s Autonomous-Driving Tech Startup Horizon Robotics Rises In Hong Kong Debut

Share to FacebookShare to TwitterShare to LinkedinHorizon Robotics, a Beijing-based company that develops both the software and hardware needed for self-driving cars, saw its shares rise in its highly anticipated Hong Kong stock market debut Thursday, boosting its market capitalization to $6.9 billion.

Horizon Robotics ended its first trading day at HK$4.1, up 2.8% from its HK$3.99-a-share IPO price. Its stock surged as much as 38% in intraday trading. The company raised HK$5.4 billion ($696 million) from the sale of 1.4 million shares at the top end of a marketed range of HK$3.73 to HK$3.99.

Its IPO, which is the largest in Hong Kong so far this year, attracted a slew of cornerstone investors, including Baidu, Alibaba, a government fund of the Chinese city of Ningbo and French shipping billionaire Rodolphe Saadé’s family office. Horizon Robotics said in its prospectus that it will use the proceeds to mainly fund its research and development efforts over the next five years.

“The completion of our Hong Kong listing marks a crucial step towards entering the international market,” Yu Kai, the company’s cofounder, chairman and CEO, said at the listing ceremony in Hong Kong on Thursday. “In the future, Horizon Robotics will remain committed to a people-centric approach, continue to increase investment in research and development, and continue to create value for users through technological innovation, making everyone’s travel safer and better.”

Before it went public, Horizon Robotics had no dearth of big-name investors. They include, among many others, Chinese state-backed automaker SAIC Motor; Baillie Gifford, a Scottish investment firm that’s backed by Amazon and Tesla; Intel Capital and three Forbes Midas Listers: Richard Liu’s 5Y Capital, Zhang Lei’s Hillhouse Investment Management and Neil Shen’s HongShan (formerly Sequoia China). German auto giant Volkswagen in 2023 spent more than $2 billion and took a 60% in a joint venture with Horizon Robotics, which focuses on developing self-driving technologies for Volkswagen’s vehicles sold in China.

The roster of billionaire investors goes on: Jean Salata’s EQT Private Capital Asia; Chey Tae-won’s Korean memory chip behemoth SK Hynix; YF Capital, a private equity firm cofounded by Jack Ma; Robin Zeng’s electric vehicle battery maker CATL; and Wang Chuanfu’s Chinese EV carmaker BYD.From left to right: Horizon Robotics’ cofounders Tao Feiwen, Yu Kai and Huang Chang.Shanshan Kao/Forbes Asia
Horizon Robotics was cofounded in 2015 by Yu, an artificial intelligence scientist who started an autonomous driving project at Baidu, as well as ex-Baidu chief R&D architect Huang Chang and associate director Tao Feiwen. Its most advanced system is called Horizon SuperDrive, which as per the company is designed to achieve human-like autonomous driving in urban, highway and parking scenarios. Launched in April, the system “theoretically supports” Level 4 automation, one level below full automation and is capable of making decisions in specific conditions without human input, according to its prospectus.
Horizon Robotics’ other systems offer features such as automatic emergency braking and parking assist. The company also licenses its proprietary algorithm and software to its clients so that they can develop their own customized products. The customer roster consists of 27 carmakers, including Volkswagen, South Korea’s Hyundai Motor, and China’s BYD, Geely, Li Auto and NIO.
Horizon Robotics claims in its prospectus to be the largest Chinese provider of assisted and autonomous driving systems by installation volume as of June, citing China Insights Industry Consultancy. The company said it has installed 900,000 systems in passenger cars in the first half of the year, earning it a 15.4% market share in China, after three other overseas providers.
That said, Horizon Robotics has yet to become profitable. In the first half of this year, the company’s net loss nearly doubled year-on-year to 5.4 billion yuan ($758 million), partly due to rising R&D costs. During the same period, it more than doubled its revenue to 934.6 million yuan, with 74% generated from licensing deals, followed by sales of self-driving systems and non-automotive systems such as those for home appliances. The company said it plans to break even “in the coming years” by growing sales, expanding to Japan, South Korea and Europe, and introducing more advanced autonomous driving systems.
The auto industry has long aspired to have self-driving cars as the new norm, but accidents and even fatal crashes have put the nascent technology under intensifying safety scrutiny. In October, Tesla unveiled the prototype of the driverless “Cybercab,” but disappointed investors with a lack of details on the technology behind the robotaxi. Meanwhile, Apple in February reportedly scrapped its self-driving electric car project after a decade-long effort.
Despite these setbacks, some companies are pushing ahead. Chinese autonomous driving startup Pony AI, founded by former Baidu employee James Peng, filed for an IPO in the U.S. last week. It is among a select group of companies to have received permits to test their driverless ride-hailing services on roads. Others include Baidu, whose robotaxis are available in several Chinese cities; China’s WeRide, which has obtained driverless permits in California, Singapore and the United Arab Emirates; and Alphabet’s Waymo, which is undergoing tests in a few U.S. cities.
MORE FROM FORBES

Former Baidu AI Scientist’s Autonomous-Driving Tech Startup Horizon Robotics Rises In Hong Kong Debut

Share to FacebookShare to TwitterShare to LinkedinHorizon Robotics, a Beijing-based company that develops both the software and hardware needed for self-driving cars, saw its shares rise in its highly anticipated Hong Kong stock market debut Thursday, boosting its market capitalization to $6.9 billion.

Horizon Robotics ended its first trading day at HK$4.1, up 2.8% from its HK$3.99-a-share IPO price. Its stock surged as much as 38% in intraday trading. The company raised HK$5.4 billion ($696 million) from the sale of 1.4 million shares at the top end of a marketed range of HK$3.73 to HK$3.99.

Its IPO, which is the largest in Hong Kong so far this year, attracted a slew of cornerstone investors, including Baidu, Alibaba, a government fund of the Chinese city of Ningbo and French shipping billionaire Rodolphe Saadé’s family office. Horizon Robotics said in its prospectus that it will use the proceeds to mainly fund its research and development efforts over the next five years.

“The completion of our Hong Kong listing marks a crucial step towards entering the international market,” Yu Kai, the company’s cofounder, chairman and CEO, said at the listing ceremony in Hong Kong on Thursday. “In the future, Horizon Robotics will remain committed to a people-centric approach, continue to increase investment in research and development, and continue to create value for users through technological innovation, making everyone’s travel safer and better.”

Before it went public, Horizon Robotics had no dearth of big-name investors. They include, among many others, Chinese state-backed automaker SAIC Motor; Baillie Gifford, a Scottish investment firm that’s backed by Amazon and Tesla; Intel Capital and three Forbes Midas Listers: Richard Liu’s 5Y Capital, Zhang Lei’s Hillhouse Investment Management and Neil Shen’s HongShan (formerly Sequoia China). German auto giant Volkswagen in 2023 spent more than $2 billion and took a 60% in a joint venture with Horizon Robotics, which focuses on developing self-driving technologies for Volkswagen’s vehicles sold in China.

The roster of billionaire investors goes on: Jean Salata’s EQT Private Capital Asia; Chey Tae-won’s Korean memory chip behemoth SK Hynix; YF Capital, a private equity firm cofounded by Jack Ma; Robin Zeng’s electric vehicle battery maker CATL; and Wang Chuanfu’s Chinese EV carmaker BYD.From left to right: Horizon Robotics’ cofounders Tao Feiwen, Yu Kai and Huang Chang.Shanshan Kao/Forbes Asia
Horizon Robotics was cofounded in 2015 by Yu, an artificial intelligence scientist who started an autonomous driving project at Baidu, as well as ex-Baidu chief R&D architect Huang Chang and associate director Tao Feiwen. Its most advanced system is called Horizon SuperDrive, which as per the company is designed to achieve human-like autonomous driving in urban, highway and parking scenarios. Launched in April, the system “theoretically supports” Level 4 automation, one level below full automation and is capable of making decisions in specific conditions without human input, according to its prospectus.
Horizon Robotics’ other systems offer features such as automatic emergency braking and parking assist. The company also licenses its proprietary algorithm and software to its clients so that they can develop their own customized products. The customer roster consists of 27 carmakers, including Volkswagen, South Korea’s Hyundai Motor, and China’s BYD, Geely, Li Auto and NIO.
Horizon Robotics claims in its prospectus to be the largest Chinese provider of assisted and autonomous driving systems by installation volume as of June, citing China Insights Industry Consultancy. The company said it has installed 900,000 systems in passenger cars in the first half of the year, earning it a 15.4% market share in China, after three other overseas providers.
That said, Horizon Robotics has yet to become profitable. In the first half of this year, the company’s net loss nearly doubled year-on-year to 5.4 billion yuan ($758 million), partly due to rising R&D costs. During the same period, it more than doubled its revenue to 934.6 million yuan, with 74% generated from licensing deals, followed by sales of self-driving systems and non-automotive systems such as those for home appliances. The company said it plans to break even “in the coming years” by growing sales, expanding to Japan, South Korea and Europe, and introducing more advanced autonomous driving systems.
The auto industry has long aspired to have self-driving cars as the new norm, but accidents and even fatal crashes have put the nascent technology under intensifying safety scrutiny. In October, Tesla unveiled the prototype of the driverless “Cybercab,” but disappointed investors with a lack of details on the technology behind the robotaxi. Meanwhile, Apple in February reportedly scrapped its self-driving electric car project after a decade-long effort.
Despite these setbacks, some companies are pushing ahead. Chinese autonomous driving startup Pony AI, founded by former Baidu employee James Peng, filed for an IPO in the U.S. last week. It is among a select group of companies to have received permits to test their driverless ride-hailing services on roads. Others include Baidu, whose robotaxis are available in several Chinese cities; China’s WeRide, which has obtained driverless permits in California, Singapore and the United Arab Emirates; and Alphabet’s Waymo, which is undergoing tests in a few U.S. cities.
MORE FROM FORBES

Thailand’s travel tax set for 2025 launch

BANGKOK (ANN/THE NATION) – Thailand’s controversial landing fee has been rebranded as a “travelling tax” and is set to take effect around mid-2025, initially targeting air travellers, the Tourism and Sports Ministry announced.On October 23, Minister Sorawong Thienthong confirmed that the tax proposal would be submitted to the Cabinet for approval by the first quarter of 2025.
Once cleared, the tax is expected to be enforced within six months. The fee, known locally as Kha Yeap Pan Din (fee for stepping on Thai soil), was provisionally approved in February 2023 and will charge 300 baht (USD 8.88) for air arrivals and 150 baht (USD 4.44) for land or sea entries.
Sorawong said the money would be used to buy insurance for foreigners and the remainder added to the tourism development fund.
The fund will support the improvement of tourist attractions, including building facilities for the disabled and toilets for tourists.
He said the ministry is working on an application to be used to collect the tax, which will be linked to the system of the Krungthai Bank.
The current insurance coverage amount will remain the same, which is no more than 60 baht from the 300 baht per person travelling tax.
Insurance payout in case of death is set at one million baht, and a maximum of 500,000 baht for injuries.
This amount is on top of the insurance that foreign tourists buy themselves. The insurance under the new travel tax will cover a stay in Thailand for no more than 30 days, which is applicable to around 87 per cent of foreign arrivals, the minister said.
He added that after the first phase, the Cabinet may consider adjusting the tax for arrivals via land and sea channels to the same rate as for air travellers to avoid accusations of unequal treatment.
Sorawong added that the travelling tax will not be levied on cross-border merchants, who will need to show a border pass when crossing to and from neighbouring countries.
PHOTO: ENVATO

Increased travel recorded ahead of holiday long weekend

Cyprus is seeing increased travel activity for the upcoming October 28 holiday weekend, with Greece and the UK remaining the most popular destinations, according to travel industry representatives.
“We are observing heightened travel movement from Cypriots during the October 28 weekend,” said Haris Papacharalambous, president of the Association of Travel Agents.
He noted that many will use this opportunity for short breaks or to visit children studying abroad.
Popular European destinations include Italy, France – particularly Paris – and Vienna, whilst some travellers are opting for domestic tourism at coastal and mountain resorts, despite unseasonably warm temperatures.
Winter tourism bookings are expected to match 2023 levels, despite regional conflicts and inflationary pressures affecting consumer purchasing power, Papacharalambous said.
Meanwhile, Greece is experiencing an 8% decline in holiday bookings compared to last year, according to the Federation of Hellenic Travel and Tourism Agencies.
Despite the overall decline, Macedonia region destinations including Kastoria, Zagorochoria, and Pindos are seeing strong domestic demand, alongside islands such as Corfu, Rhodes, and Crete.
For outbound Greek travellers, the Dalmatian Coast, Italy, Poland, Malta, Alsace, and Switzerland lead air travel bookings, whilst road trip destinations include Sofia, Ohrid, Dubrovnik, Belgrade, and Bucharest.
Turkey has emerged as a popular choice this year, with visitors heading to Istanbul, coastal areas, Izmir, and Cappadocia.
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