Facebook has spent much of 2018 shutting down more than one billion fake and fraudulent accounts. AP Images
Facebook has spent much of 2018 shutting down more than one billion fake and fraudulent accounts. AP Images

Facebook identifies political influence campaign ahead of US midterms



Facebook has identified a new co-ordinated political influence campaign to mislead users and organise rallies before November's United States congressional elections, taking down dozens of fake accounts from its site, the company said on Tuesday.

A Russian propaganda arm tried to tamper in the 2016 United States election by posting and buying ads on Facebook, according to the company and US intelligence agencies. Moscow has denied involvement.

Facebook on Tuesday said it had removed pages and accounts from Facebook and Instagram in part of an effort to combat foreign meddling in US elections — attempts politicians have called dangerous for democracy.

Ad Age reported that the company had removed 32 pages and accounts from both sites “because they were involved in co-ordinated inauthentic behaviour”. The most-followed Facebook pages to be shut down were Aztlan Warriors, Black Elevation, Mindful Being and Resisters.

The social network disabled an event promoted on the Resisters page which was scheduled to protest a "Unite the Right" event in Washington in August.

The company said it was still in the early stages of its investigation and did not yet know who may be behind the influence campaign for 2018 elections that will determine whether or not the Republican Party keeps control of Congress.

Chief operating officer Sheryl Sandberg said attempts to manipulate public opinion would likely become more sophisticated to evade Facebook’s scrutiny, calling it an “arms race”.

“This kind of behaviour is not allowed on Facebook because we don’t want people or organisations creating networks of accounts to mislead others about who they are, or what they’re doing,” the company said in a blogpost.

More than 290,000 accounts followed at least one of the pages and about $11,000 (Dh40,400) was spent on about 150 ads, Facebook said. The pages had created about 30 events since May 2017.

Facebook has been on the defensive for months about influence activity on its site and concerns over user privacy tied to longstanding agreements with developers that has allowed them access to private user data.

The company identified influence activity around at least two issues, including a counter-protest to a "Unite the Right II" rally set next week in Washington. The other was the #AbolishICE social media campaign aimed at the US Immigration and Customs Enforcement agency.

In the blogpost, Facebook said it was revealing the influence effort now in part because of the rally. A previous event last year in Charlottesville, South Carolina, led to violence by white supremacists.

Facebook said it would tell users who had expressed interest in the counter-protest what action it had taken and why.

Company officials told the media that a known account from Russia’s Internet Research Agency was a co-administrator of one of the fake pages for seven minutes, but the company did not believe that was enough evidence to attribute the campaign to the Russian government.

Facebook previously said 126 million Americans may have seen Russian-backed political content on Facebook over a two-year period, and that 16 million may have been exposed to Russian information on Instagram.

Adam Schiff, the top Democrat on the US House of Representatives Intelligence Committee, in a statement urged Facebook to move against foreign groups trying to sway US voters and to warn legitimate users that such activity, as seen in 2016, is recurring this year.

“Today’s announcement from Facebook demonstrates what we’ve long feared: that malicious foreign actors bearing the hallmarks of previously-identified Russian influence campaigns continue to abuse and weaponise social media platforms to influence the US electorate,” Mr Schiff said.

Senate Intelligence Committee Chairman Richard Burr, a Republican, said there would be a hearing on Wednesday about the online threat to US election security.

Mr Burr said the goal of influence operations “is to sow discord, distrust and division in an attempt to undermine public faith in our institutions and our political system. The Russians want a weak America”.

Washington imposed punitive sanctions on Russia following US intelligence agency conclusions that Moscow interfered to undermine the 2016 US elections, one of the reasons US-Russian relations are at a post-Cold War low. Both US President Donald Trump and Russian President Vladimir Putin have said, however, that they want to improve ties between the two nuclear powers.

Facebook disclosed in September that Russians had used the social network under fake names to try to influence US voters in the months before and after the 2016 election, writing about divisive issues, setting up events and buying ads.

US intelligence agencies said Russian state operators ran the campaign combining fake social media posts and hacking into Democratic Party networks, eventually becoming an effort to help Republican candidate Mr Trump, who scored a surprise victory over Democrat Hillary Clinton.

Over the past several months, the company has taken steps meant to reassure US and European politicians that further regulation is unnecessary. Chief executive officer Mark Zuckerberg says the company has 20,000 people working to police and protect the site.

Costs associated with that effort are part of the reason Facebook said last week that it expects its profit margins to decline, a warning that sent shares tumbling about 25 per cent, the biggest one-day loss of market cap in US stock market history. Shares of Facebook were up about 1.5 percent in Tuesday’s mid-afternoon trading, part of a broader tech rebound.

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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Poacher
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Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Hoopla%3Cbr%3E%3Cstrong%3EDate%20started%3A%20%3C%2Fstrong%3EMarch%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Jacqueline%20Perrottet%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2010%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%3Cbr%3E%3Cstrong%3EInvestment%20required%3A%3C%2Fstrong%3E%20%24500%2C000%3C%2Fp%3E%0A
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

The biog

Favourite hobby: taking his rescue dog, Sally, for long walks.

Favourite book: anything by Stephen King, although he said the films rarely match the quality of the books

Favourite film: The Shawshank Redemption stands out as his favourite movie, a classic King novella

Favourite music: “I have a wide and varied music taste, so it would be unfair to pick a single song from blues to rock as a favourite"

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The biog

Favourite food: Tabbouleh, greek salad and sushi

Favourite TV show: That 70s Show

Favourite animal: Ferrets, they are smart, sensitive, playful and loving

Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can

Name of first pet: Eddy, a Persian cat that showed up at our home

Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Pakistanis%20at%20the%20ILT20%20
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Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

MATCH INFO

Uefa Champions League last 16, second leg
Liverpool (0) v Atletico Madrid (1)
Venue: Anfield
Kick-off: Thursday, March 12, midnight
Live: On beIN Sports HD

The specs

Engine: 2.0-litre four-cylinder turbo

Power: 268hp at 5,600rpm

Torque: 380Nm at 4,800rpm

Transmission: CVT auto

Fuel consumption: 9.5L/100km

On sale: now

Price: from Dh195,000 

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.