Latest news with #SwissGovernment
TECHx
11-07-2025
- Business
- TECHx
UAE Ministry of Finance Wins AI Impact Award in Geneva
Home » Emerging technologies » Artificial Intelligence » UAE Ministry of Finance Wins AI Impact Award in Geneva The UAE Ministry of Finance has won the Innovating for Impact Award at the AI for Good Summit 2025. The award was given in the category of AI applications in the financial sector. The event took place at the Geneva International Conference Centre (CICG). It was organised by the International Telecommunication Union (ITU) in collaboration with several United Nations agencies. The Ministry was recognised for its efforts in applying artificial intelligence across various financial functions. These include fraud detection, risk assessment, algorithmic trading, and customer service. Officials stated that these initiatives have improved system efficiency and supported sustainable development goals. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, announced that the award reflects the UAE's progress in integrating AI into government operations. He added that these efforts have helped boost efficiency and global competitiveness in the financial sector. Al Hussaini revealed that the Ministry follows an institutional innovation approach. It focuses on digital transformation and operates on a flexible technical infrastructure. This supports risk management, operational efficiency, and transparency in public financial resources. He emphasized that the recognition will encourage teams to continue building a data-driven, balanced financial system aligned with the UAE's 50-year vision. Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, said the award affirms the UAE's leadership in artificial intelligence. He highlighted innovation as a key to driving efficiency and transparency in government financial management. He added that the Ministry has launched initiatives powered by predictive analytics. These include a smart budget management system that monitors economic indicators in real time. Key highlights: UAE honoured for AI use in finance at UN's AI for Good Summit Recognised for AI-based fraud detection, trading, and budgeting Ministry aims to promote innovation and international partnerships The AI for Good Summit is the official UN platform for AI. It is organised by the ITU with support from 47 UN agencies and the Swiss Government. The summit explores AI's global impact and supports knowledge exchange to address development challenges.
Bloomberg
03-07-2025
- Business
- Bloomberg
Switzerland, Germany Sign Pact for Joint Sky Shield Initiative
Switzerland and Germany have agreed to jointly purchase multiple ground-based air defense systems as part of the European Sky Shield Initiative, in a push by the two countries to ramp up collaboration in defense procurement. The agreement foresees the purchase of medium-range ground-based air defense from German manufacturer Diehl Defence GmbH & Co. KG, the Swiss government said in a statement Thursday. Negotiations with the manufacturer are largely completed and the contract is expected to be signed in coming weeks, the government said.
Bloomberg
25-06-2025
- Business
- Bloomberg
Swiss Admit Spat With US on Fighter Jet Price, Still Want F-35A
Switzerland and the US are at odds on the agreed price for three dozen F-35A fighter jets the country wants to buy from Lockheed Martin Corp., adding to existing tensions over US tariffs. The Swiss government said in a statement on Wednesday that a price was set in the purchase contract, but that US officials have now said that this is a 'misunderstanding' and the planes will cost more.
Reuters
25-06-2025
- Business
- Reuters
Switzerland to explore defence procurement pact with EU
BERLIN, June 25 - Switzerland will enter into exploratory talks with the European Union on a non-binding partnership to take part in arms procurement projects, the government said on Wednesday, as the neutral alpine nation seeks closer EU security ties. Such partnerships are a prerequisite for non-EU countries to become involved with the bloc's cooperation projects, said the government, adding that the move was compatible with neutrality and would help strengthen its defence capabilities. "Switzerland has an interest in greater cooperation with the EU, particularly in relation to armaments," it said, adding that the talks should be launched as soon as possible. A partnership would allow Switzerland to negotiate better conditions for its industry's participation in EU defence procurement projects, it said. "To date, the EU has concluded such partnerships with a number of countries, and further partnerships are in the pipeline," added the government. Companies from countries that have signed such a pact with the EU are eligible to apply for the bloc's 150-billion-euro ($173.99 billion) arms fund, if they meet further conditions. The Swiss government on Wednesday also approved a draft cooperation agreement, opens new tab with Ukraine on the reconstruction of the besieged country that would establish a legal basis for the Swiss private sector to become more closely involved. ($1 = 0.8621 euros)
Bloomberg
25-06-2025
- Business
- Bloomberg
Swiss See 10% US Tariffs to Stay After July 9 If Still in Talks
The Swiss government expects US tariffs to remain at the current rate of 10% after the 90-day grace period ends on July 9, as long as negotiations between the two countries continue. Still, officials in Bern said they can't rule out that the US will reintroduce so-called reciprocal tariffs on that day, according to a statement on Wednesday.
