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eToro and Arabesque AI launch Sharia-compliant portfolio powered by AI

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  • 84% of retail investors in the UAE consider ESG factors before investing.
  • Over the past ten years, Sharia-compliant stocks in the S&P 500 have performed better than the index overall.

eToro, the trading and investing platform, has partnered with Arabesque AI, an investment advisory and technology company, to launch a new Sharia-compliant portfolio for users in the Middle East. Named ShariaAI-Growth, the portfolio leverages Arabesque’s AI technology and bank of environmental, social, and governance (ESG) data to identify high-growth US stocks that comply with Sharia principles.

“Since our launch in the UAE six months ago, our goal has been to tailor our services to meet the evolving needs of our users in the region,” explainedGeorge Naddaf, GCC & MENA Regional Manager at eToro.“Our recent survey of retail investors in the UAE found that 84% consider ESG factors before investing, with 35% emphasising the importance of their investments being Sharia-compliant. We are thrilled to announce our collaboration with Arabesque AI to offer a portfolio that leverages advanced AI technology and ESG data.”

Sharia-compliant investment products have provided competitive returns over the long term. The S&P 500 Shariah Index returned 14.25% per year for the 10-year period to the end of March 2024, compared to 12.96% per year for the regular S&P 500 Index.

Omar Selim, Group CEO of Arabesque said: “We are delighted to partner with eToro to deliver faith-based investment products at scale, powered by Portfolio Dragon and ESGBOOK.”

The ShariaAI-Growth portfolio comprises up to 40 US equities. The selection process is as follows:

  • Step 1: From the pool of US stocks available on the eToro platform, only those with a market cap of over US$1 billion and an average daily trading volume of over US$10 million are eligible.
  • Step 2: The eligible stocks then have to pass a business activities screen and financial ratio screens to guarantee their compliance with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Sharia principles.
  • Step 3: The compliant stocks are evaluated with Arabesque’s AI technology to select those with the highest expected returns, strong earnings growth over the previous 12 months and high ESG scores to be included in the final portfolio.

The portfolio is rebalanced quarterly taking into account expected returns, as well as risk and transaction costs. The Sharia screening process is based on the AAOIFI Shari’ah Standard No. (21).

Initial investment starts from US$500 and investors can access tools and charts to track the portfolio’s performance, while eToro’s social feed will keep them up-to-date on developments in the sector.

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Toshiba Announces MG10-D Series of Enterprise HDDs with Capacities up to 10TB

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Toshiba Electronics Europe GmbH (Toshiba) announces the release of its MG10-D Series, a family of air-filled conventional magnetic recording (CMR) HDDs supporting SAS and SATA interfaces and capacities of up to 10TB. Crafted with precision engineering and over 50 years of Toshiba experience, the MG10-D Series delivers improved performance and power efficiency over prior generations. With sanitize instant erase (SIE) and self-encrypting drive (SED) options, valuable data is safeguarded by a storage solution known for its robust performance and unwavering dependability.

Built for the increasing application demands of enterprise server and storage solutions, the MG10-D Series delivers a new level of performance. For example, compared with the previous model, the new 10TB MG10ADA10TE provides an approximately 13% better maximum sustained transfer speed of 268MiB/s and doubles the cache buffer size to 512MiB. It also reduces power consumption in active idle mode by approximately 21%, to 5.74W. Architected to deliver improved total cost of ownership (TCO), the new MG10-D Series fits seamlessly into a wide variety of business-critical applications, such as email, data analytics, data retention, and surveillance.

“Toshiba’s MG10-D Series delivers exceptional performance to meet the demands of growing business critical applications. The new cutting-edge design of the MG10-D Series is engineered for sustainable enterprise environments and fits seamlessly into existing infrastructure reducing TCO,” said Larry Martinez-Palomo, Vice President, Head of Storage Products Division at Toshiba.

The MG10-D Series is a 5-disk CMR standard 3.5-inch, 7200 RPM air-filled platform. Available capacities are 2TB, 4TB, 6TB, 8TB, and 10TB for both SAS and SATA. SATA is also available in a 1TB drive. The series supports 6Gb/s SATA or 12Gb/s SAS interface options in Advanced format 512e and 4Kn. A 512n option is available on the 1TB, 2TB, and 4TB offerings to support legacy systems with native 512 byte block sizes. Designed for 24×7 enterprise reliability, the MG10-D Series has a workload rating of 550TB, an AFR of 0.44% and an MTTF/MTBF of 2M hours.

The MG10-D Series will be available in CQ3.

MG10-D Series

CapacityInterfaceFormatModel NumberOptional Security
10 TBSATA-3.3512e/4Kn [7]MG10ADA10TESIE/SED[2]
8 TBMG10ADA800E
6 TBMG10ADA600E
4 TBMG10ADA400E
2 TBMG10ADA200E
4 TB512nMG10ADA400N
2 TBMG10ADA200N
1 TBMG10ADA100N
10 TBSAS-3.0512e/4Kn [7]MG10SDA10TE
8 TBMG10SDA800E
6 TBMG10SDA600E
4 TBMG10SDA400E
2 TBMG10SDA200E
4 TB512nMG10SDA400N
2 TBMG10SDA200N
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ASBIS celebrated its 32nd partnership anniversary with Seagate partners

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ASBIS Middle East, a subsidiary of ASBISC Enterprises PLC recently celebrated the 32-year anniversary of its distribution partnership with Seagate. Notably, Seagate was the first global IT vendor with whom ASBIS signed a distribution agreement in 1992, marking the start of a longstanding and successful collaboration between the two companies.

The anniversary event was held on the 25th of June at the Doubletree by Hilton hotel in Dubai. The event comprised several elements, including presentations by Arnab Majumdar, Country Manager – Kingdom of Saudi Arabia for Seagate, who showcased the latest solutions offered by Seagate. Additionally, Mr. Hesham Tantawi shared a summary of the principal milestones achieved by the two companies in their partnership. The event also included contributions from Mohit Pandey, Head of Sales META at Seagate Technology, and concluded with a celebratory cake-cutting ceremony with 200 valuable partners.

Over the past three decades, ASBIS has delivered impressive outcomes for its partners and upheld its status as the primary Seagate distributor in the EMEA region. The collaboration has progressed from distributing standard HDD, SDD, and external drives to incorporating more intricate and advanced solutions.

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Vertiv Adds New Direct Expansion Cooling Unit to Enable Carbon Footprint Reduction

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Vertiv introduced the new, highly efficient Vertiv Liebert PDX-PAM direct expansion perimeter units with low global warming potential (GWP) and non-flammable R513A refrigerant. Available now in Europe, Middle East and Africa (EMEA), the system is designed to operate with an eco-friendly refrigerant (as compared to legacy refrigerants) to enable increased efficiency, reliability and maximum flexibility of installation.

Liebert PDX-PAM allows data centre owners to comply with the EU F-Gas Regulation 2024/573 and enables their pressing sustainability goals. The non-flammable R513A refrigerant provides up to a 70% GWP reduction when compared to the traditional R410A, without compromising safety or reliability. No additional safety devices are required, as is the case for units using flammable refrigerants, enabling reduced installation costs and CAPEX.

“In an era where efficiency and reliability are paramount, we recognize the urgent need for eco-friendly alternatives to stay ahead of regulatory requirements and provide our customers with state-of-the-art innovations,” stated Karsten Winther, president for Vertiv in Europe, Middle East and Africa. “With this new solution, we’re not just addressing our customers’ current sustainability objectives; we’re actively innovating and advancing the future of cooling technology and setting new heights for efficiency and reliability.”

Liebert PDX-PAM is available from 10 kW to 80 kW with a wide range of airflow configurations, options and accessories, making the unit easily adaptable to various installation needs, from small to medium data centres including edge computing applications, UPS and battery rooms. In conjunction with the Liebert PDX-PAM units, a wide choice of cooling solutions is available for managing heat rejection externally, depending on the specific system configuration.

Vertiv is leading in innovation and raising the technology threshold with Liebert PDX-PAM , a low-GWP, non-flammable R513A refrigerant solution with inverter-driven brushless motor compressors, staged coil design with an innovative patent-pending filter, electronic expansion valves and state-of-the-art electronically commutated (EC) fans, all included as standard features. The integrated Vertiv Liebert iCOM controller enables seamless synchronization of these components, allowing complete modulation of performance. This way, the Liebert PDX-PAM unit can adapt to changing operating conditions and heat load efficiently and reliably. The full continuous modulation capability significantly reduces the annual power consumption, resulting in a more cost-effective solution, thanks to the enhanced part load efficiency and precise monitoring of the machine’s operation, facilitating performance tracking and more timely and effective maintenance, thereby creating opportunities for predictive maintenance actions.

“The introduction of low GWP refrigerants for direct expansion systems marks a significant advancement in sustainable air-cooling technology,” said Lucas Beran, research director at Dell’Oro Group. By utilizing low-GWP and non-flammable refrigerants, Vertiv complies with EU F-Gas Regulation requirements and aims to reduce carbon footprints without compromising on safety or efficiency. This innovation is significant for data center operators aiming to achieve their sustainability goals while maintaining high operational standards.”

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