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The Star
12-05-2025
- Business
- The Star
ECB needs steady hand and must not overdo rate cuts, Schnabel says
People walk in to the headquarters of the European Central Bank (ECB) in Frankfurt am Main, western Germany, past a giant Euro logo on April 17, 2025 ahead of the Eurozone's monetary policy meeting. (Photo by Kirill KUDRYAVTSEV / AFP) Stanford (California): The European Central Bank (ECB) needs a 'steady hand' and mustn't lower borrowing costs too much as inflation could turn out to be higher in the future, executive board member Isabel Schnabel says. 'By keeping interest rates near their current levels, we can be confident that monetary policy is neither excessively holding back growth and employment, nor stimulating it,' she said. 'We are thus in a good place to evaluate the likely future evolution of the economy and to take action if risks materialise that threaten price stability,' she added Over the medium-term, risks to inflation 'are likely tilted to the upside, reflecting both the increase in fiscal spending and the risks of renewed cost-push shocks from tariffs propagating through global value chains,' she said in a speech at Stanford University last Friday. The ECB has reduced rates seven times since June and officials have signalled they're ready to do more as US President Donald Trump's trade tariffs threaten to lower growth, with another move looking likely next month. Investors are currently pricing in two to three more cuts this year and some economists like Gilles Moec from Axa Group expect even more aggressive easing, unless the trade negotiations resolve quickly and positively. However, Schnabel urged caution in her first public remarks since the April reduction and her first in-depth monetary-policy comments in public since February, pouring some cold water on rate-cut expectations. Schnabel said that in the current situation, the high level of economic uncertainty, together with the sharp fall in energy prices and a stronger euro 'will likely dampen headline inflation in the short-run, potentially pushing it below our 2% target.' In April, consumer-price growth stood at 2.2%. But monetary policy should focus on the medium-term, she said. 'Given long and variable transmission lags, reacting to short-term developments could result in the peak impact of our policy only unfolding when the current disinflationary forces have passed,' the ECB board member added. She highlighted two factors that could have the size and persistence to pull underlying inflation sustainably away from the ECB's goal: a rise in public spending and global fragmentation. Fiscal policy 'is set to expand on a scale unseen outside periods of deep economic contraction', she said, also highlighting plans by the new German government. 'On balance, the fiscal impulse is likely to put upward pressure on underlying inflation over the medium term.' On fragmentation and in particular US tariffs she admitted that it's difficult to assess the implications as negotiations are ongoing. 'Overall, however, there are risks that a lasting and meaningful increase in tariffs will reinforce the upward pressure on underlying inflation arising from higher fiscal spending over the medium term,' she said. She also said that eurozone foreign demand may prove resilient and trade diversion may benefit the bloc's exports. 'Should prohibitive tariffs on Chinese imports remain in place, they will measurably raise the eurozone's price competitiveness in the US market,' she said. — Bloomberg
Sinar Daily
08-05-2025
- Business
- Sinar Daily
Meta blocks access to Muslim news page in India
There was no immediate reaction from the Indian government on the ban, which comes after access was blocked to the social media accounts of Pakistani actors and cricketers. 08 May 2025 09:08am Meta has banned a prominent Muslim news page on Instagram in India at the government's request, the account's founder said on May 7, denouncing the move as "censorship" as hostilities escalate between India and Pakistan. (Photo by Kirill KUDRYAVTSEV / AFP) WASHINGTON - Meta has banned a prominent Muslim news page on Instagram in India at the government's request, the account's founder said Wednesday, denouncing the move as "censorship" as hostilities escalate between India and Pakistan. Instagram users in India trying to access posts from the handle @Muslim -- a page with 6.7 million followers -- were met with a message stating: "Account not available in India. This is because we complied with a legal request to restrict this content." Meta has banned a prominent Muslim news page on Instagram in India at the government's request, the account's founder said on May 7, denouncing the move as "censorship" as hostilities escalate between India and Pakistan. (Photo by Kirill KUDRYAVTSEV / AFP) There was no immediate reaction from the Indian government on the ban, which comes after access was blocked to the social media accounts of Pakistani actors and cricketers. "I received hundreds of messages, emails and comments from our followers in India, that they cannot access our account," Ameer Al-Khatahtbeh, the news account's founder and editor-in-chief, said in a statement. "Meta has blocked the @Muslim account by legal request of the Indian government. This is censorship." Meta declined to comment. A spokesman for the tech giant directed AFP to a company webpage outlining its policy for restricting content when governments believe material on its platforms goes "against local law." The development, first reported by the US tech journalist Taylor Lorenz' outlet User Magazine, comes in the wake of the worst violence between nuclear-armed India and Pakistan in two decades. Both countries have exchanged heavy artillery fire along their contested frontier, after New Delhi launched deadly missile strikes on its arch-rival. At least 43 deaths were reported in the fighting, which came two weeks after New Delhi blamed Islamabad for backing a deadly attack on tourists in the Indian-run side of the disputed Muslim-majority region of Kashmir. Pakistan rejects the charge and has warned it will "avenge" those killed by Indian air strikes. The @Muslim account is among the most followed Muslim news sources on Instagram. Khatahtbeh apologised to followers in India, adding: "When platforms and countries try to silence media, it tells us that we are doing our job in holding those in power accountable." "We will continue to document the truth and stand out firmly for justice," he added, while calling on Meta to reinstate the account in India. India has also banned more than a dozen Pakistani YouTube channels for allegedly spreading "provocative" content, including Pakistani news outlets. In recent days, access to the Instagram account of Pakistan's former prime minister and cricket captain Imran Khan has also been blocked in India. Pakistani Bollywood movie regulars Fawad Khan and Atif Aslam were also off limits in India, as well as a wide range of cricketers -- including star batters Babar Azam and Mohammad Rizwan and retired players Shahid Afridi and Wasim Akram. Rising hostilities between the South Asian neighbors have also unleashed an avalanche of online misinformation, with social media users circulating everything from deepfake videos to outdated images from unrelated conflicts, falsely linking them to the Indian strikes. On Wednesday, US President Donald Trump called for India and Pakistan to immediately halt their fighting, and offered to help end the violence. - AFP More Like This
Int'l Business Times
01-05-2025
- Business
- Int'l Business Times
Google Play Slashes 1.6 Million Apps In Brutal Crackdown On Low-Quality Content
AFP / Kirill KUDRYAVTSEV The digital guillotine has fallen at Google Play, and the numbers are staggering. In an unprecedented purge that has left developers reeling and users confused, Google has wiped out nearly half of all applications from its Play Store since January. The tech giant has removed a jaw-dropping 1.6 million apps from its digital marketplace with barely a word of explanation. App intelligence firm Appfigures broke the news last week, revealing that Google Play's global offerings have plummeted from approximately 3.4 million apps to just 1.8 million – a 47% reduction that represents the most aggressive cleanup in the platform's history. Massive App Purge Hits Google Play As an illustration, Apple's iOS App Store experienced a slight rise over the same timeframe, moving from 1.6 million apps to approximately 1.64 million currently. For Google, this drop in app numbers could be a welcome change for Android device owners. LT Android App is currently removed from Google Play (again!). This time, a random "you don't exist" email from Google out of the blue. Hopefully will be back up soon, please bear with me :/ — Language Transfer & The Thinking Method (@LangTransfer) April 29, 2025 Notably, Android device owners often had to wade through misleading, spammy, and just plain bad apps to find the beneficial ones. This cleanup could also boost developers who've had to compete for attention in a crowded market. A less cluttered app store could mean their quality apps get noticed more easily. A Contributing Factor? Google's Lenient Review Process Over the years, Google Play's less demanding guidelines for app examination have flooded the store with lower-standard apps. While Apple consistently upholds rigorous app assessment procedures before making apps available, Google frequently depends on automatic evaluations and malware checks to accelerate the app-vetting procedure. This difference in approach has contributed to the contrasting app store sizes and quality control. As noted in a TechCrunch report, Google typically has a quicker app-vetting duration, which stems from its less intensive human oversight. In July 2024, Google declared its intention to elevate the basic quality standards for applications. This decision likely contributed to the change in the number of available Play Store app listings. Some apps may have been removed for not meeting these new, higher benchmarks. Stricter Quality Standards Trigger App Removals Rather than solely removing faulty apps that crashed, wouldn't install, or didn't function correctly, the company stated it would start eliminating apps that showed 'limited functionality and content.' The removal encompassed inactive applications lacking specific features, such as apps consisting only of text or those functioning solely as PDF viewers. The search engine giant also removed apps that offered minimal content, such as those providing just a single wallpaper. Furthermore, Google prohibited applications created to be non-functional or serve no purpose, which could have included experimental projects or discontinued efforts by developers. Furthermore, Google prohibited applications created to be non-functional or serve no purpose, potentially encompassing experimental projects or discontinued efforts by developers. Google verified with TechCrunch that its updated guidelines contributed to this. These guidelines also featured a wider range of verification demands, mandatory app testing for new individual developer accounts, and increased human assessments to identify apps attempting to mislead or defraud users. AI And Human Eyes Moreover, the company highlighted other 2024 investments in artificial intelligence for identifying threats, stronger data protection rules, enhanced developer resources, and more. Consequently, Google stated that it stopped 2.36 million apps violating policies from being released on its Play Store and terminated over 158,000 developer accounts that had tried to distribute damaging applications. One element Google didn't mention was the new trader status regulation enforced by the EU starting this February. This rule mandated that developers include their names and addresses in the app's listing. Failure to comply would result in their apps being removed from EU app stores. It's important to note that Apple also started requiring trader status information in February and didn't experience a decrease in available apps. Interestingly, Appfigures observed a reduction in the number of apps on the Google Play Store even before the formal commencement of the cleanup last summer; the reason for this shift is unclear to them. Nevertheless, the firm indicates that 10,400 new apps have been released on Google Play this year, a 7.1% increase compared to last year as of April. Major developers and established apps appear largely unaffected, suggesting Google's algorithm prioritized removing applications with low engagement metrics or outdated code. But for Android's reputation as the more open and developer-friendly mobile platform? The optics aren't great. Originally published on IBTimes UK This article is copyrighted by the business news leader
Forbes
17-04-2025
- Business
- Forbes
We Aren't Ready For AI Agent Computing Demands
Photo by Kirill KUDRYAVTSEV / AFP) (Photo by KIRILL KUDRYAVTSEV/AFP via Getty Images AI agents are transforming Web3's landscape in ways most people haven't noticed. These autonomous programs scan markets, optimize yields, and secure protocols across chains — but they're hitting the wall of computing power. While Twitter threads buzz about AI agents revolutionizing DeFi and governance, engineers face a harder truth: running these agents at scale across decentralized networks demands unprecedented computational resources. Yet a handful of projects have cracked this infrastructure puzzle, building systems that make AI agents truly viable in Web3. Understanding this infrastructure evolution matters for anyone building or investing in decentralized systems because the next wave of Web3 innovation depends on getting these foundations right. Drop an AI agent into a blockchain environment and you'll quickly discover why traditional approaches fail. That's because these aren't your typical automation tools. AI agents are specialized programs dealing with unique Web3 constraints that involve different levels of complexity. Every decision requires calculating gas costs across multiple chains. Each trade needs verification through zero-knowledge proofs. And unlike centralized systems, these agents can't just spin up more cloud servers when demand spikes. Take a DeFi trading bot. On the surface, it looks similar to traditional algorithmic trading. But dig deeper and you'll find it juggling cross-chain liquidity pools, predicting gas wars, and maintaining decentralization while making split-second decisions. The computational demands balloon when you factor in real-time market data from multiple chains, smart contract interactions, and cryptographic proofs for every transaction. This complexity explains why early Web3 AI agents failed. They either compromised on decentralization or choked on processing demands. The real breakthrough came when teams stopped trying to force traditional AI architectures into blockchain environments. Instead, they built new systems from the ground up, designed specifically for Web3's unique challenges. Web3 projects have finally moved past theoretical discussions of AI agents. Several teams have deployed working solutions that showcase the practical potential of this technology. In the DeFi space, EXE is taking an unexpected approach. Their platform leverages AI agents to monitor market conditions across multiple chains simultaneously. When volatility increases, these agents calculate optimal lending strategies and adjust collateral requirements faster than any human trader could react. The system processes massive amounts of cross-chain data to predict market movements, often spotting opportunities hours before they become obvious to manual traders. Inference Labs demonstrates another crucial application in the verification space. The team developed a system that combines zero-knowledge proofs with AI inference engines. Each decision made by their AI agents generates a cryptographic proof, creating an auditable trail without sacrificing computational efficiency. For DeFi protocols, this breakthrough enables the confident deployment of AI-driven decisions while maintaining security standards. The computational demands of running AI agents at scale exposed a critical weakness in Web3's infrastructure. recognized this early, understanding that traditional cloud services would buckle under the unique requirements of decentralized networks. Their solution emerged from a simple observation: massive amounts of computing power sit idle in personal devices around the world. By building DePIN networks to harness this untapped resource, created an infrastructure layer that reduces operational costs significantly compared to centralized providers. The system grows organically as demand increases, with new nodes joining the network to provide additional computing power. Why did this distributed setup work? It tackled core problems head-on. For example, when an AI agent needs to process complex calculations across multiple chains, the workload spreads across the network rather than overwhelming a single node. The architecture ensures consistent performance globally while maintaining the censorship resistance that makes Web3 valuable. Across Web3, teams feel the impact of these infrastructure upgrades. AI agents can now handle more sophisticated tasks, from real-time market analysis to complex risk assessments, without compromising on decentralization principles. Teams building new applications no longer need to choose between performance and staying true to Web3's core values. The recent success of projects like Inference Labs and EXE stems directly from these infrastructure advances. Their AI agents operate effectively because the underlying computational framework finally matches their requirements. This shift from theoretical possibility to practical implementation represents years of work solving fundamental technical challenges. Web3's infrastructure evolution creates unique possibilities for AI agent deployment. Early experiments focus on obvious use cases such as trading, security monitoring, and yield optimization. But the real transformation lies in unexplored territory. For instance, with decentralized identity systems, AI agents could analyze cross-chain reputation data while preserving privacy through zero-knowledge proofs. Projects are developing frameworks where these agents help assess creditworthiness without accessing sensitive personal information. The computational demands for this kind of analysis would have made it impossible even a year ago. Community governance represents another frontier. AI agents are beginning to assist DAOs with treasury management and proposal analysis. For example, when a DAO considers a complex DeFi strategy, AI agents simulate potential outcomes across multiple market scenarios. The results help token holders make more informed decisions while maintaining decentralized control. The success of AI agents in Web3 hinges on more than raw computing power. Infrastructure providers face ongoing challenges around data availability, cross-chain communication, and scalability. Solutions require a careful balance between automation efficiency and decentralization principles. Theoretical models shatter when they hit mainnet. Ask any dev team about how these models break down under real-world conditions. Market volatility, network congestion, and evolving security threats create edge cases that even sophisticated AI agents struggle to handle. Each failure provides valuable lessons, pushing development toward more robust solutions. The next phase of development focuses on standardization and interoperability. As more projects deploy AI agents, the need for common frameworks becomes clear. Infrastructure providers recognize that long-term success depends on creating systems that work together seamlessly, rather than competing isolated solutions. These foundations might not generate exciting headlines, but they determine which projects succeed in bringing AI agents from concept to production. The teams solving these fundamental challenges today shape how Web3 will function tomorrow.
Local Germany
16-04-2025
- Climate
- Local Germany
What the weather forecast predicts over Easter weekend in Germany
A bout of warm, sunny weather in recent days had many in Germany unpacking their summer wear. But in western parts of the country, the weather has already turned, with Düsseldorf and surrounding cities having seen a dramatic drop in temperatures and scattered showers on Wednesday. The German weather service (DWD) says that western parts of the country will see cold temperatures and more rain in the coming days whilst eastern regions continue to see sunshine and relative warmth. Why is the weather so divided right now? Dramatic differences between Germany's former eastern and western states are a well understood phenomenon, but it's rare to see weather patterns between the two sides so divided. The DWD predicts single-digit temperatures with rain in the west on Wednesday and Thursday whilst in eastern regions it will be just under 30 degrees with plenty of sun in the east. In middle regions a risk of thunderstorms is reported. According to DWD meteorologist Marco Manitta, the high-contrast weather is due to a pronounced low-pressure zone that currently stretches from North Africa through Italy to the British Isles. The cold air on the western flank of this zone reaches extends far south, and on the other side a warm air mass extends as far north as Scandinavia. A woman walks withn an umbrella during a rain shower in Frankfurt am Main. Frankfurt may see showers and colder temperatures, especially on Friday. Photo by Kirill KUDRYAVTSEV / AFP The result is that in Western Europe it feels as if a last bout of winter weather has moved in, whereas Eastern and Southeastern Europe feel as if summer has already begun. This strong temperature contrast also brings severe weather - this is expected to affect Italy the most, but may also bring scattered storms to middle sections of Germany. Advertisement Warmest day of the year "Germany is right on the border between cold and warm air," explains meteorologist Manitta, according to a DPA report. In the eastern half, the DWD expects the warmest day of the year so far on Wednesday with highs of up to 27C. Meanwhile in most western regions, temperatures will stay below 20C - even below 15C closer to the western border. There the sky will be cloudy or overcast with scattered rain on Wednesday afternoon. In the transition area of this air mass boundary - roughly between Swabia and Schleswig-Holstein - isolated strong thunderstorms may develop. On Thursday, the temperature contrast will be even greater: in the western half under the dense clouds and the intermittent rain, temperatures between 9C to 14C are expected. In the east, summer temperatures will continue, up to 28C in some places with plenty of sun. Individual strong thunderstorms will continue in the transition zone, which is expected to move between Bavaria and West Mecklenburg. READ ALSO: How to navigate roads and trains in Germany over the Easter holidays An inflatable easter bunny stands in a field advertising an Easter event in Werder, Brandenburg. Weather over Easter weekend will be mixed across Germany. Photo by RALF HIRSCHBERGER / AFP How's the weather over Easter? According to the DWD, Easter conditions will perhaps not be as nice as many would would like for holidays. On Good Friday, heavy rains may continue in parts of the west, and scattered thunderstorms may finally reach the east, too, as the transition zone moves slightly eastward. This will also cause temperatures to dip slightly in the east, with highs around 19C to 23C. Advertisement Throughout the rest of the holidays the weather will be mixed. Temperatures are expected to rise modestly over the weekend in parts of the west to highs between 17C and 23C. But scattered showers or thunderstorms may continue. On a positive note, the showers will bring some much needed rain to parts of Germany that are suffering drought conditions. A bit of water on the ground should reduce wildfire risk as well, just in time to ease some tension ahead of Easter bonfires in many western cities. With reporting by DPA.
