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Facebook changes its company name to Meta

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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.

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Afghan and Iranian officials discuss expanding economic cooperation

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Ahmad Jan Bilal, General Director of State-Owned Corporations, met on Tuesday with Iran’s Ambassador to Kabul, Ali Reza Bikdeli, to discuss expanding bilateral economic cooperation and following up on issues raised during his recent visit to Iran.

According to a statement from the General Directorate of State-Owned Companies, the meeting focused on reviewing ways to implement discussions held with Iranian officials during Bilal’s visit.

Bikdeli described the visit as positive and productive, stressing the importance of following up on the issues discussed and taking practical steps to advance bilateral cooperation.

He said Iran is ready to cooperate with Afghanistan in oil and gas exploration, extraction and exports, refinery construction, agriculture, water and electricity.

Bilal, for his part, said the Islamic Emirate is interested in expanding joint cooperation with Iran in energy, agriculture, industrial development and other economic sectors. He added that his office would work with the Iranian side to turn the proposed areas of cooperation into practical initiatives.

Bilal also reaffirmed his office’s commitment to following up on the issues discussed during his recent visit to Iran and working towards their implementation in coordination with Iranian officials.

Bilal recently visited Iran at the head of a delegation, holding talks with several Iranian officials on expanding economic, trade and investment ties, particularly in the state-owned companies sector.

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Ariana Airlines reduces Kabul–Islamabad–Kabul airfares by $20

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Ariana Afghan Airlines announced on Tuesday a reduction in ticket prices for flights on the Kabul–Islamabad–Kabul route from $190 to $170.

According to the airline, passengers can now purchase tickets for this route at $20 less than the previous fare.

The airline has also set a special fare of $150 for students travelling on this route.

Ariana Afghan Airlines said the move aims to reduce travel costs and make air travel more affordable and accessible for passengers and students.

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Afghanistan and Russia discuss expanding economic ties and boosting bilateral trade

During the meeting, Muttaqi stressed that Afghanistan and Russia should expand economic cooperation based on shared interests and mutual benefits.

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Afghanistan’s Foreign Minister Amir Khan Muttaqi has met with Zamir Kabulov, Russian President’s Special Representative for Afghanistan, to discuss strengthening bilateral relations, expanding economic cooperation and increasing trade between the two countries.

During the meeting, Muttaqi stressed that Afghanistan and Russia should expand economic cooperation based on shared interests and mutual benefits.

Kabulov, meanwhile, praised the Islamic Emirate’s efforts to combat drug trafficking and cultivation, saying reports by some international organisations on the issue do not reflect the realities on the ground.

Muttaqi reiterated that the Islamic Emirate remains committed to combating drug cultivation, production and trafficking, describing these efforts as important for the security and stability of both Afghanistan and the wider region.

The meeting comes amid continued efforts by Kabul and Moscow to strengthen diplomatic and economic engagement and explore opportunities for broader bilateral cooperation.

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