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Artificial intelligence: Google is testing technologies to prevent the spread of misinformation

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Artificial intelligence: Google is testing technologies to prevent the spread of misinformation

Image copyright GOOGLE DEEPMIND

  • author, Tom Gergen and Philippa Wen
  • stock, BBC News

In an effort to prevent the spread of fake and misleading information, Google is experimenting with “water tagging” technology to detect images generated by artificial intelligence.

SynthID technology, developed by DeepMind, Google’s AI arm, will recognize hardware and AI-generated images.

The technology works by adding changes to individual pixels in images so that watermarks are invisible to the human eye but detectable by computers.

But (DeepMind) noted that the new technology is not “guaranteed to detect serious image manipulation”.

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Economy

Abu Dhabi Securities Exchange enters into a partnership with BNY Mellon to expand custodial services globally

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Abu Dhabi Securities Exchange enters into a partnership with BNY Mellon to expand custodial services globally

ABU DHABI: The Abu Dhabi Securities Exchange, one of the world’s fastest growing financial markets, has appointed BNY Mellon, the world’s largest hedge bank, to support the dual listing of global companies on the Abu Dhabi Securities Exchange.

Through this collaboration, the bank will act as a link between the Abu Dhabi Securities Exchange and the International Securities Depository Institutions (ICSD), enabling the market to benefit from BNY Mellon’s global presence.

This initiative is part of ADX’s strategy to work with internationally recognized global capital markets institutions to develop innovative solutions that help improve the market’s infrastructure and capabilities. This collaboration with BNY Mellon will enable international issuers to dual-list their securities, starting in the US and expanding to other countries. Also, the market will provide investors with new investment opportunities in global markets.

On this occasion, Abu Dhabi Securities Exchange CEO Abdullah Salem Al Nuaimi said: “We are pleased to collaborate with BNY Mellon to strengthen our relationships with international securities depositories and facilitate dual listing in our fast-growing financial market. Our partnership with BNY Mellon, the world’s largest custodian, supports our strategy to drive innovation in our infrastructure, which will provide investors with a wide range of unique growth opportunities. Financial market in the region.

For his part, Hani Kiblawi, President of BNY Mellon International, said: “With our decades of presence in the region, we are pleased to work with a leading financial market such as the Abu Dhabi Securities Exchange to help investors have broad access to financial instruments.” Globalism. We focus on simplifying market complexity and connecting the financial system through innovative products and services that meet the needs of customers worldwide, and our appointment by the Abu Dhabi Securities Exchange is a prime example of this.

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In recent years, the Abu Dhabi Securities Market has introduced several new initiatives to attract more investors and improve market liquidity. The most important of these initiatives are the launch of the Financial Derivatives Market in 2021 and the launch of FTSE Abu Dhabi Securities. Market 15 “Fadax 15” Index and “Fadax 15” Index. For futures contracts in 2022, it will be the first benchmark for futures contracts on the market’s financial derivatives platform.

#Corporate Data
– I finish –

About Bank of New York Mellon (BNY Mellon).

BNY Mellon is a global investment firm offering sophisticated and thoughtful investment and wealth management services in 35 countries as part of its financial services offering to institutions, companies and individual investors. As of December 31, 2022, BNY Mellon’s total assets under custody/management reached $44.3 trillion in the securities and/or administrative services sectors, while total assets under management reached $1.8 trillion. A bank can act as a single point of contact for customers who want to initiate, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate banking brand of Bank of New York Mellon Corporation (NYSE: BK).

About Abu Dhabi Securities Market:

The Abu Dhabi Securities Market was established on November 15, 2000, pursuant to Local Law No. (3) of 2000. Under this Act, the market enjoys legal personality, financial and administrative independence and necessary supervisory and administrative powers. Duties. On March 17, 2020, the Abu Dhabi Securities Market was converted from a public company to a public joint stock company in terms of Law (8) of 2020. Abu Dhabi Securities Market is affiliated with the Holding Company (ADQ). of the largest holding companies in the region. , Abu Dhabi has a broad portfolio of major companies operating in key sectors within the Emirate’s diversified economy.

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The Abu Dhabi Securities Market is a market for trading securities. Including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange-traded funds and other financial instruments approved by the UAE Securities and Commodities Authority. The Abu Dhabi Securities Exchange is the second largest market in the Arab region, and its strategy of providing sustainable financial performance with diversified income sources is in line with the guiding principles of the UAE’s “Preparing for 50” agenda. The National Plan outlines the UAE’s strategic development roadmap, which aims to create a vibrant, sustainable and diversified economy that positively contributes to the transition to a new global model of sustainable development.

For more information on Abu Dhabi Securities Exchange, please contact:

Abdul Rahman Saleh Al Khatib

Director of Corporate Communications and Digital Marketing

Email: [email protected]

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Economy

Emirates News Agency – Standard & Poor’s to WAM: UAE economy expected to grow 3% in 2023 and 4% in 2024

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Emirates News Agency – Standard & Poor’s to WAM: UAE economy expected to grow 3% in 2023 and 4% in 2024

From/ Rami Sami..

ABU DHABI, September 26 / WAM / Standard & Poor’s Credit Ratings Agency (S&P) expects the UAE economy to grow by 3% in 2023, with the pace of growth rising to around 4% in 2024, with the main support of the non-profit sector being oil.

Analysts at Standard & Poor’s reported to the Emirates news agency WAM that the UAE government has implemented a broad set of economic and social initiatives over the past few years that will lead to long-term growth.

S&P analysts expect the emirate’s tourism sector to continue to grow by supporting the country’s hosting of major events, which will help it achieve its target of increasing visitor numbers to 40 million by 2030, and the number of hotel rooms to reach 250,000. Same period.

Analysts expect the UAE banking sector to continue to show strong fundamentals, see continued improvement in profitability and surpass pre-pandemic “Covid-19” levels supported by rising interest rates, while the real estate sector in Dubai will show greater resilience. Stable house prices in light of demand is a strong one amid expectations.

S&P’s sovereign ratings analyst Trevor Cullinan said the UAE economy is expected to grow by around 3% this year, and we expect expansion in the non-oil sector to be strong, with broad-based growth in the services and industrial sectors.

The economy of the UAE is expected to grow by around 4% next year, he said, due to the continued growth of the oil sector and non-oil sector, with many sectors contributing significantly to the growth of the country’s economy. , particularly in oil and gas, wholesale, industrial and real estate. , construction, financial services and real estate.

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In line with the “We Emirates 2031” vision, he expected the economic momentum of the non-oil economy to be supported by the influx of expatriates and tourists, positive sentiments of investors and consumers, in addition to the private sector. Aimed at increasing the volume of trade and increasing the share of tourism in the GDP, through collaboration… among all government agencies and institutions and the private sector to advance the development process.

Trevor Cullinan, The UAE government has taken a broad set of business and social initiatives over the past few years, which will lead to long-term growth as initiatives for residential and business are expected to attract skilled workers. Social initiatives can help improve the country’s position in the Middle East.

He said the UAE’s initiatives included allowing 100% direct foreign ownership of more than 1,000 commercial and industrial activities, along with a “bankruptcy” law that eased and provided individuals with financial problems by restructuring their debts. State in the field of ease of doing business, opportunity to re-borrow on easy terms to improve competitiveness.

He explained that the UAE’s initiatives include new visas, expanding the criteria for obtaining a golden residence visa for a period of 10 years, launching a green residence visa for five years, and allowing investors and businessmen to apply for work visas. A sponsor or host is required, and the initiation of a multiple-entry tourist visa for a limited period of five years, in addition to tourist visas for family groups.

Cullinan said the UAE’s recent efforts to improve the UAE dirham-denominated yield curve through the introduction of treasury bonds and instruments denominated in the local currency will lead to the development of local capital markets and expand funding sources for UAE companies and banks. , noted that the implementation of the UAE corporate tax system will contribute to the diversification of government revenue. Apart from the oil sector, the implementation of this tax is another step towards modernizing the business environment in the UAE and aligning it with international standards.

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For her part, S&P’s corporate rating analyst Tatiana Leskova expected the expansion of the tourism sector to support greater economic growth in the UAE, with Dubai Emirate succeeding in attracting 14.7 million international visitors by 2022, a doubling. What was achieved in 2022? In 2021, the number of visitors indicated this year could reach a peak of 16.7 million visitors in 2019 in 2023, while the Emirate of Abu Dhabi attracted 4.1 million hotel guests in 2022, an increase of 24%. From 2021 onwards.

The tourism industry in the UAE is expected to continue to grow, supported by key events such as the United Arab Emirates Conference of the Parties to Climate Change (COP28). The goal is to increase the number of visitors to 40 million by 2030, with the number of hotel rooms expected to reach 250,000 in the same period.

He pointed out that the emirates of Abu Dhabi and Dubai will lead the way in attracting business and tourism to the country, while other emirates such as Ras Al Khaimah and Sharjah are working to develop tourism sectors, which will increase diversity. Tourism offers in the country, especially the Emirate of Sharjah is Arab and Islamic culture and a family destination, it is safe, the Emirate of Ras Al Khaimah for its beautiful nature, recreational activities and authentic programs.

Tatiana Leskova expects the real estate sector in Dubai to show more flexibility with the expectation that house prices will stabilize in light of strong demand, noting that Dubai’s attraction for companies is evident in the increasing number of new business licenses.

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For his part, Dr. Said: Financial Institutions Ratings Analyst and Global Head of Islamic Finance at S&P, Muhammad Damak, said the banking sector in the UAE continues to show strong fundamentals, and profitability is expected to continue to improve and exceed pre-Covid-19 pandemic levels. Banks’ interests also benefit from technological advances.

He expects the capitalization of the UAE banking system to maintain its strength and benefit from improved internal capital formation, with UAE banks continuing to enjoy good financial and liquidity conditions and a good net external asset position, which protects them from downside pressures. An increase in the cost of global liquidity.

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Economy

455 billion dirhams in capital and reserves of UAE banks at the end of July

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455 billion dirhams in capital and reserves of UAE banks at the end of July

Total capital and reserves of banks operating in the country increased by about 48 billion dirhams or 11.8% year-on-year to reach 454.9 billion dirhams at the end of last July, compared to about 406.9 billion dirhams at the end of July 2022. .

The central bank said in its monthly report that banks’ total capital and reserves increased by about 6.14%, or the equivalent of 26.3 billion dirhams, in the first seven months of the year, compared to 428.6 billion dirhams at the end of December. Last year, it grew by 1.6% on a monthly basis, compared to 447.8 billion dirhams. One billion dirhams last June.

The central bank explained that banks’ capital and reserves do not include loans and secondary deposits, but they also include profits for the current year.

According to the central bank, national banks account for about 86.4% of the total capital and reserves of banks operating in the country, and their value reached 392.9 billion dirhams at the end of last July, an increase of 12% on a year-on-year basis. About 350.8 billion dirhams in July 2022.

The share of foreign banks reached 13.6% of the total capital and reserves of banks operating in the country, and their value reached 62 billion dirhams at the end of last June, an increase of about 10.5% compared to 56.1 billion on a year-on-year basis. Dirhams in July 2022.

The central bank pointed out that the capital and reserves of banks in the Emirate of Dubai reached 219.8 billion dirhams at the end of last July, a year-on-year growth of 12.9%. 200.2 billion dirhams, an annual increase of 10.8%, and capital and reserves of banks in other emirates reached about 34.9 billion dirhams, an increase of 10.4% year-on-year. The capital and reserves of conventional banks in the country stood at about 380.8 billion dirhams at the end of last July, an increase of 12% year-on-year, while the capital and reserves of Islamic banks stood at about 74.1 billion dirhams. About 10.8% on annual basis.

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Arab countries account for 60% of global Islamic finance

Dr. Abdul Rahman bin Abdullah Al-Humaidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, said, “Arab countries make up 60% of the global Islamic finance sector, which is three. trillion dollars by the end of 2021.

Al-Humaidi added that he launched a distance learning course on “Accounting Standards for Islamic Financial Institutions” in collaboration with the Islamic Development Bank. Element in keeping pace with this industry and its growth and development.

Setting accounting standards for Islamic financial institutions helps to support the development of the industry, achieve calibration and harmonization between Islamic financial practices among Arab countries or practices in Arab countries and international practices, and leads to transparency of accounting disclosure. , reliability and validity of financial statements, and simplify the work of companies. In view of the challenges faced by Islamic finance in the application of international accounting standards due to the uniqueness of its work.

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