FORTUDE EXPANDS PARTNERSHIP WITH INFOR TO BOOST GROWTH IN ANZ AS CHANNEL PARTNER

KUALA LUMPUR, Nov 29 (Bernama) -- Fortude, a global digital solutions company has been appointed an Infor Channel Partner for Australia and New Zealand (ANZ), marking a significant expansion of its long-standing partnership with Infor.

According to Fortude in a statement, the company has the potential to exponentially grow its business by entering the channel network space.

For over a decade, Fortude has been an Infor Alliance Partner, helping businesses in the region implement, optimise and successfully manage their Infor solutions.

“This expanded partnership allows us to deliver comprehensive end-to-end software and services from solution design to delivery, ensuring you get the full benefit of Infor’s powerful tools across ERP, supply chain, financials, and more.”

“Our new role as a Channel Partner enables us to provide a complete experience for a customer’s specific business needs, helping optimise operations, improve performance, and accelerate growth,” said Fortude Chief Revenue Officer for APAC, Cameron Greening.

Meanwhile, welcoming Fortude as a channel partner for ANZ, Infor Senior Vice President and General Manager, Asia Pacific and Japan, Terry Smagh expressed enthusiasm about Fortude's expanded role, highlighting the importance of strategic collaborations for Infor’s growth in the region.

Smagh explained Fortude’s expertise in vertical industries, such as food & beverage, manufacturing, and distribution, complements Infor’s multi-tenant CloudSuites with GenAI and industry-specific automation.

Fortude has worked with many long-standing customers such as Australian dairy giant Bega, ForestOne and Patties Foods, and now plans to scale its offering and broaden its experience through this channel space.

The expansion into the channel partner space further underscores the company’s continued commitment to delivering customer value, complementing its ongoing investments in services, solutions and artificial intelligence (AI) technology.

-- BERNAMA

WELSPUN ONE INVESTS US$325 MLN TO DEVELOP INDIA'S LARGEST LOGISTICS FACILITY

 

KUALA LUMPUR, Nov 28 (Bernama) -- Welspun One, India’s fastest-growing new-age logistics and industrial real estate manager, is investing US$325 million in the country’s largest single-location ‘Grade A’ warehousing and industrial park at the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ) in Navi Mumbai. (US$1=RM4.43)

According to a statement, this facility, which spread across 55 acres and is India’s first-of-its-kind integrated port-based logistics ecosystem, will transform the Asia Pacific supply chain.

Originally envisaged as a 1.2 million square feet (sq ft) park, which entailed an investment of US$84 million, the company has now upscaled the development to approximately 4.45 million sq ft of built-up area to cater to the growing export-import demand arising at the JNPA Port.

Welspun One Managing Director, Anshul Singhal said this investment represents not just a milestone for the company but a bold step forward in transforming India’s logistics landscape.

“By identifying the strategic location and partnering with a global team of world-class designers and engineers from Japan, Singapore, and the Middle East, we are building an international facility that delivers on the dual imperatives of efficiency and cost-effectiveness,” he said.

JNPA, handling approximately 35 per cent of India’s maritime traffic, is the largest container port by throughput. This prime location presents an unprecedented opportunity for the SEZ/Free Trade Warehousing Zones (FTWZ) segment to scale, particularly as the region has historically faced constraints in integrated facility solutions.

Welspun One’s facility addresses this gap by offering businesses across sectors like chemicals, automotive, fast-moving consumer goods (FMCG), pharmaceutical, and electronics with an integrated, cost efficient logistics solution in a high potential area.

The state-of-the-art facility is strategically located near critical transport hubs, offering significant logistical advantages. It will feature 3.95 million sq ft of warehousing space, alongside industrial and office spaces, with a high capacity for cargo handling and truck parking.

The project is expected to generate direct and indirect employment for over 5,000 people, strengthening the local economy, as well as providing occupiers additional benefits such as exemption of Goods and Services Tax (GST), customs duty deferment, faster customs clearance, and minimal detention or demurrage risks.

All of this enables seamless movement of goods and optimised inventory management, resulting in improved operational efficiency and significant cost savings of up to 15 per cent, in addition to improving the logistical efficiency of the port making the project an ideal hub for international businesses looking to optimise their supply chains.

-- BERNAMA

TELEDYNE LAUNCHES Z-TRAK 3D APPS STUDIO SOFTWARE TOOLS FOR IN-LINE 3D MEASUREMENT AND INSPECTION

WATERLOO, Canada, Nov 27 (Bernama-GLOBE NEWSWIRE) -- Teledyne DALSA is pleased to introduce Z-Trak™ 3D Apps Studio, a suite of software tools developed for in-line 3D machine vision applications. Designed to work with Teledyne DALSA’s Z-Trak family of laser profilers, it simplifies 3D dimensional measurement and inspection tasks on production lines. Capable of handling 3D scans of objects with varied surface types, sizes and geometric features, Z-Trak 3D Apps Studio is ideal for factory automation applications across a wide range of industries including electric vehicles (EV batteries, motor stators etc.), automotive, electronics, semiconductors, packaging, logistics, metal fabrication, lumber, and many more.

Z-Trak 3D Apps Studio features streamlined tools for measuring object thickness, inspecting glue-beads, weld seams, and identifying defects on flat, inclined, and curved surfaces on machined, assembled, or extruded parts. It also includes anchoring and data enhancement features like reflection elimination to ensure reliable and repeatable results under diverse operating conditions.

Teledyne’s Z-Trak family of laser profilers features various multi-sensor topologies to enhance the field of view while preserving height resolution, to overcome occlusion, or to provide a 360° view of objects for inspection and measurements. Z-Trak 3D Apps Studio simultaneously acquires, processes, and analyzes 3D scans and 2D gray scale images (reflectance data) all with 3D visualization capabilities.

For easy integration and quick deployment, the Z-Trak 3D Apps Studio is accessible via Sherlock 8.30 (or higher), a field proven, no-code, graphical development environment for factory floor applications. Z-Trak 3D laser profilers include a Sherlock 8 license for in-line measurement applications.

For more details, please visit the product page, and for sales enquiries, visit our contact page.

Teledyne Vision Solutions offers the world’s most comprehensive, vertically integrated portfolio of industrial and scientific imaging technology. Aligned under one umbrella, Teledyne DALSA, e2v CMOS image sensors, FLIR IIS, Lumenera, Photometrics, Princeton Instruments, Judson Technologies, Acton Optics, and Adimec form an unrivalled collective of expertise across the spectrum with decades of experience and best-in-class solutions. Together, they combine and leverage each other’s strengths to provide the deepest, widest sensing and related technology portfolio in the world. Teledyne offers worldwide customer support and the technical expertise to handle the toughest tasks. Their tools, technologies, and vision solutions are built to deliver to their customers a unique and competitive advantage.

Media Contact

Jessica Broom
Jessica.broom@teledyne.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5799ec0e-e23c-43ca-ac8f-7980811c661a 

SOURCE : Teledyne DALSA

EMGA SECURES US$210M FROM EIB FOR BRAZIL'S BTG PACTUAL

LONDON, 26 Nov (Bernama-GLOBE NEWSWIRE) -- Emerging Markets Global Advisory Limited (EMGA) announces today they have secured US210M debt finance for their long-standing Brazil based client; BTG Pactual.

The US$210 million debt facility was provided by EIB and the follows on from previous facilities arranged by EMGA.

Sajeev Chakkalakal, Managing Director and Head of Investment Banking at EMGA, said: "Yet again we are delighted to have arranged this landmark transaction aimed at funding BTG’s Green Lending portfolio and the resultant strong net positive benefits for climate sustainability. EIB remains a key investor relationship for EMGA, and we are proud to have helped them increase their presence in Brazil as part of their broader EIB Global strategy.

Jeremy Dobson, Managing Director, and Head of Operations at EMGA, added: “It was a pleasure to work with BTG again on an additional financing with a new Development Financial Institution (DFI). We look forward to continuing our strong track record of arranging financing in Brazil and the rest of Latin America.”

BTG Pactual: BTG is the largest investment bank in Latin America, the 6th largest bank in Brazil by shareholders equity and a key player in providing loans and guarantees to a broad set of clients, from SMEs to large corporations. BTG is a pioneer in promoting climate finance in Brazil and plays a pivotal role in channeling resources towards projects with a positive impact in the community. 

EIB: EIB is The European Investment Bank (EIB) is the European Union's investment bank and is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt solutions and focuses on the areas of climate, environment, small and medium-sized enterprises (SMEs), development, cohesion and infrastructure. 

Emerging Markets Global Advisory LLP (EMGA), with offices in London and New York, helps financial institutions and corporates seeking new debt or equity capital. EMGA’s multi-national team combine the decades of experience necessary to complete transactions on behalf of their clients within the world’s emerging markets and frontier economies, including Brazil which remains a key market. With a proven track record in capital formation and strategic advisory throughout diverse economic cycles, EMGA continues to deliver geographic reach and service offering, solidifying its place in the market as one of the industries pre-eminent emerging markets focused niche investment banks.

Contact info@emergingmarketsglobaladvisory.com 


SOURCE : Emerging Markets Global Advisory

TIGO ENERGY, SOLAR HIVE TO SHOWCASE SOLAR SAFETY TECH SOLUTIONS AT MALAYSIA EVENT

KUALA LUMPUR, Nov 21 (Bernama) -- Tigo Energy Inc (Tigo), an intelligent solar and energy software solutions provider, has announced plans to present on advanced solar safety technology with regional equipment distribution leader, Solar Hive, at an event in Kuala Lumpur on Nov 25.

At the Tigo Solar Hive Technical Event, the presentation will focus on the growing importance of solar safety and how installers can comply with new regulations in the Malaysian market, while highlighting their innovative solar rapid shutdown and monitoring solutions.

Tigo Energy chief marketing and customer experience officer, James (JD) Dillon stressed the urgency in preparing installers for rapid shutdown standards, highlighting the importance of the seminar in providing both educational materials and practical lessons from global markets.

“The Malaysian market has tremendous potential for solar, and we look forward to supporting this growth,” he said in a statement.

With rapid shutdown gaining significant attention in Malaysia and backing from fire safety organisations, the event aims to address the growing need for such systems. Tigo's collaboration with Solar Hive will showcase the Tigo TS4-X product line, which enables installers to use high-power modules up to 800 watts, suitable for commercial, industrial, and utility-scale applications.

This product incorporates Tigo’s patented technology and is compatible with 980 inverter models from 48 third-party brands. With its safety, monitoring, and optimisation features, the TS4-X series ensures efficiency and versatility for energy-critical sectors.

Guidelines on fire safety for rooftop solar installations in Malaysia, issued by the Fire and Rescue Department of Malaysia (JBPM), are paving the way for rapid shutdown requirements similar to those in the United States and increasingly adopted worldwide.

Tigo sees this as an opportunity to educate stakeholders on the value of these systems, helping to mitigate critical risks and enhance safety in rooftop solar installations. As a leader in module-level power electronics (MLPE), Tigo demonstrates how its solutions ensure compliance while improving safety and operational efficiency.

Also at the event, both companies will provide educational materials, including case studies from successful installations across Asia, along with hands-on training on rapid shutdown and monitoring technologies enabled by the Tigo Energy Intelligence platform to further advance Malaysia’s solar community.

-- BERNAMA

AM Best Joins 14th ASEAN Insurance Congress On Nov 25

KUALA LUMPUR, Nov 20 (Bernama) -- Global credit rating agency, AM Best will participate in the 14th annual Association of Southeast Asian Nations (ASEAN) Insurance Congress, scheduled for Nov 25, in Jerudong, Brunei Darussalam.

AM Best’s Singapore operations managing director and chief executive officer (CEO), Rob Curtis will moderate a CEO panel discussion titled, “Forward-Looking Strategies for Future Growth: Expanding Markets, Innovating Products, and Strengthening Customer Connections in the ASEAN Insurance Sector”.

According to AM Best in a statement, joining the panel will be Asian Institute of Insurance CEO, Paul Low Hong Ceong; Syarikat Takaful Brunei Darussalam managing director and CEO, Shahrildin Jaya; eBaoTech and InsureMO CEO and founder, Dr Woody Mo; and Malaysian Takaful Association CEO, Mohd Radzuan Mohamed.

ASEAN was established in August 1967 and currently consists of 10 member states. The ASEAN Insurance Council is the main regional platform for insurance industry participants to share their expertise in various areas of the insurance industry.

Themed “Navigating Disruptions Towards a Sustainable ASEAN Insurance Industry”, the 14th annual ASEAN Insurance Congress will be held at the Empire Brunei, in which AM Best is a bronze sponsor of the event.

-- BERNAMA

AV AIRFINANCE TO STRENGTHEN GLOBAL AIRLINE RELATIONS WITH EXECUTIVE APPOINTMENT

KUALA LUMPUR, Nov 18 (Bernama) -- AV AirFinance Limited (AV AirFinance), a global commercial aviation loan servicer, has appointed Jonathan O’Dowd as Senior Vice President, Investments.

Based in Singapore, O’Dowd will be responsible for credit underwriting and strategic airline relations globally, according to a statement.

AV AirFinance Chief Executive Officer, Stephen Murphy, said the company is delighted to welcome O’Dowd to the AV AirFinance team.

“Jonathan has a strong track record in building and managing airline relationships, and his extensive network will be a great benefit to our expanding direct-to-airline business,” he said.

O’Dowd brings over 14 years of experience in aviation and asset finance. Prior to joining AV AirFinance, he served as Director of Aviation Risk at Castlelake, where he worked on risk and strategic initiatives.

His extensive network and experience in building long-term relationships with airlines have enabled him to source and structure opportunities such as pre-delivery payment (PDP) financings, rated structures, and finance leases.

Headquartered in Dublin, Ireland with offices in the United States and Singapore, AV AirFinance focuses on arranging financing for commercial aircraft to airlines, lessors, manufacturers, cargo operators and investors, secured by new and used commercial aircraft and engines.

-- BERNAMA

BERMUDA’S EVERGREEN INSURANCE CREDIT RATINGS DOWNGRADED - AM BEST

KUALA LUMPUR, Nov 18 (Bernama) -- AM Best has downgraded the financial strength rating to A- (excellent) from A (excellent) and the long-term issuer credit rating to “a-” (excellent) from “a” (excellent) of Bermuda’s Evergreen Insurance Company Limited (EICL).

These credit ratings (ratings) which have a stable outlook, reflect EICL’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

In a statement, the global credit rating agency said the ratings also reflected the parental support EICL received from Evergreen International S.A. and Evergreen International Corporation in terms of capital, business development, operations and risk management.

The rating downgrades reflect changes to EICL’s operating performance and business profile assessment, based on the company’s latest business plan to cease underwriting new business starting from mid-May 2024.

AM Best revised the company’s operating performance assessment to adequate from strong given that its top-line and bottom-line results are projected to drop materially in the next two years, while its business profile assessment revised to limited from neutral due to the planned reduction in business scale.

As measured by Best’s Capital Adequacy Ratio, EICL’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at year-end 2023.

As a pure captive of Evergreen Group, EICL’s in-force underwriting portfolio primarily consists of marine, aviation and property risks related to the group’s operations.

The company has historically been a beneficiary of support from its shareholders and the wider parent group. AM Best expects EICL’s shareholders will remain committed and continue to render support to the company during the run-off period in terms of capital, risk management and operations, if needed.

-- BERNAMA

BYD EXPANDS ENERGY STORAGE PARTNER PROGRAMME, UNVEILS NEW PRODUCTS

KUALA LUMPUR, Nov 18 (Bernama) -- BYD Co Ltd has expanded its partner programme for BYD Energy Storage solutions recently during a partner conference at its headquarters.

In November this year, the company hosted the conference, providing an opportunity for partners to share their experiences, engage with the technical team, and receive an exclusive preview of upcoming products and features.

BYD Energy Storage general manager, Yin Xiaoqiang said the company is committed to continuous investment in research and development (R&D), as well as in production facilities, to ensure its energy storage solutions are not only leading the innovation curve but also produced with the highest safety standards and in a cost-efficient way.

“Another important factor in our product development is active dialogue with our partners and customers. Therefore, regular meetings with partners from the distribution and installation sector, are part of our partner programme.

“We take their feedback and insights seriously and advance our solutions to help them address current and future demands in the efficient use and storage of renewable energy,” he said in a statement.

A key goal of the conference was to gain insights into current market challenges the partners are facing and how the energy storage solutions can assist in overcoming them. Many wholesalers and installers reported that customer hesitations to invest into photovoltaic (PV) and related technology has been a barrier due to a current market slowdown.

However, they confirmed that solutions such as the BatteryBox series have been instrumental in attracting customers, as the demand for integrated PV and energy storage solutions continues to grow.

The high charging power of the BYD BatteryBox systems was also highlighted as a significant advantage, especially in light of trends like bidirectional charging and dynamic electricity pricing.

In addition to the user conference and a tour of BYD’s headquarters, partners were given a look behind the scenes at one of its most advanced production facilities in Nanning, specialising in the R&D and manufacturing of energy storage cells and systems from May 2023.

-- BERNAMA

AM BEST REVISES CREDIT RATING OUTLOOKS TO POSITIVE FOR MS FIRST CAPITAL INSURANCE LIMITED

SINGAPORE, Nov 15 (Bernama-BUSINESS WIRE) -- AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of MS First Capital Insurance Limited (MSFC) (Singapore).

The Credit Ratings (ratings) reflect MSFC’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in rating enhancement from Mitsui Sumitomo Insurance Company Limited, for whom the ultimate parent is MS&AD Insurance Group Holdings, Inc.

The positive outlooks reflect an improvement in MSFC’s balance sheet strength fundamentals, supported by the company’s prudent capital management strategy and robust stress testing framework. The company’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), remained at the strongest level as at year-end 2023 and is expected to be maintained at this level over the medium term. Strong and consistent internal capital generation has enabled the company to grow its capital size considerably over the past ten years, with shareholders’ equity reaching SGD 1.2 billion as at year-end 2023 from SGD 411.8 million as at year-end 2013. AM Best views MSFC’s investment portfolio as conservative, consisting mainly of cash, term deposits and high-quality bonds. Notwithstanding, the company maintain a high reliance on reinsurance to support the underwriting of large risks and to manage its accumulation of catastrophe exposures, although credit risk is mitigated partially by the good credit quality of its reinsurance panel.

AM Best views MSFC’s operating performance as strong, as evidenced by its consistently favourable return-on-equity (ROE) ratio. In 2023, the company achieved an ROE ratio of 12.1%, supported by good performance in underwriting and investment operations. The company’s underwriting discipline and technical expertise in core lines of business and markets have enabled its achievement of stable and robust underwriting returns. In addition, investment results, arising mainly from interest income, also continue to contribute positively to the company’s overall profitability.

AM Best assesses MSFC’s business profile as neutral. The company is a dominant non-life insurer in Singapore, with strong branding and technical expertise. MSFC’s underwriting portfolio is well-diversified by geography, whereby a large volume of overseas business is sourced from various markets within Asia. MSFC maintains long-standing relationships with brokers and reinsurers, which continue to support the company’s access to quality business in markets. Additionally, the company continues to receive business referrals from affiliates of its parent group.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241114617531/en/ 

Contact

Xin Ya Ong
Associate Financial Analyst
+65 6303 5024
xinya.ong@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Chris Lim
Associate Director, Analytics
+65 6303 5018
chris.lim@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

--BERNAMA

AM Best Affirms Excellent Ratings For Malaysia’s Labuan Re

KUALA LUMPUR, Nov 15 (Bernama) -- Global credit rating agency, AM Best has affirmed Malaysia’s Labuan Reinsurance (L) Ltd (Labuan Re) financial strength rating of A- (excellent) and the long-term issuer credit rating of “a-” (excellent). 

In a statement, AM Best said these credit ratings (ratings) which have a stable outlook, reflected Labuan Re’s balance sheet strength, which was assessed as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Labuan Re’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which is at the strongest level at year-end 2023.

The company adopts a prudent capital management approach to support risk-adjusted capitalisation at the strongest level over the medium term, along with an appropriate regulatory solvency position, with its investment portfolio focused on cash, deposits and fixed-income securities, albeit with modest exposure to higher-risk asset classes such as equities.

Partially offsetting balance sheet strength factors include Labuan Re’s exposure to natural catastrophe risks relative to the size of its capital base, which emanates from its regional reinsurance and international operations through its participation in Lloyd’s syndicates (Lloyd’s).

AM Best views Labuan Re’s operating performance as adequate, in which the company’s earnings were historically driven by investment returns, arising from interest income and gains from its bond and equity investments.

In 2023 and the first half of this year, Labuan Re reported robust operating performance, driven by favourable underwriting results and investment return.

The company’s business profile was assessed as neutral given its position as a well-established regional non-life reinsurer in addition to the company’s business profile continuing to benefit from portfolio diversification through its participation as a corporate member in Lloyd’s.

Despite reduced participation in Lloyd’s business, Labuan Re’s gross premium has exhibited moderate growth, driven by product initiatives and its positioning in the reinsurance market.

-- BERNAMA

ROOM TO READ APPOINTS ALAN MIYASAKI AND PETER WARWICK TO GLOBAL BOARD OF DIRECTORS

SAN FRANCISCO, Nov 15 (Bernama-BUSINESS WIRE) -- Room to Read, a global education organization focused on nurturing children’s foundational learning skills, today announced the appointment of Alan Miyasaki and Peter Warwick to its global board of directors.
“I am thrilled to welcome both Alan and Peter to our global board," said Dr. Geetha Murali, Room to Read CEO. “As Room to Read enters our 25th anniversary year and embarks on a new strategy and directional outlook for the years ahead, both Alan and Peter offer unique strategic leadership experience and insight that will be instrumental in helping Room to Read accelerate global learning outcomes to benefit more children, more quickly.”

Alan Miyasaki is a Senior Managing Director and the Head of Real Estate Asia Acquisitions at Blackstone. Since 2007, Miyasaki has played a key role in building Blackstone’s Real Estate business in Asia including executing investments in Greater China, India, Singapore, Japan, South Korea, Australia and New Zealand. Before joining Blackstone, he was with Starwood Capital Group, where he worked in acquisitions. Miyasaki has been a member of Room to Read’s regional board network for more than a decade. He also serves on the boards of Crown Resorts Ltd. and the Wharton Alumni Executive Board.

Peter Warwick is President and CEO of Scholastic Inc., the children’s and educational publisher. Previously, he held leadership roles at Thomson Reuters and began his career at Pearson. He is a past Chair of the Board of Trustees of the Queens Museum; President of Thomson Reuters Foundation Inc.; Chair of The Olana Partnership; a past member of the African Acquisitions Committee of Tate Modern; and member of the Learning and Engagement Committee of the Museum of Modern Art, New York. Since 2001, Scholastic has been an integral partner of Room to Read, providing more than 1.8 million books to our libraries across South Africa, Tanzania, Cambodia, India and Sri Lanka – helping children develop a love and habit of reading. Room to Read also recently welcomed Frank Wong, President of Scholastic Asia, to Room to Read’s Asia Pacific regional board.

A full listing of Room to Read’s global board of directors can be found here.

About Room to Read:

Founded in 2000 on the belief that World Change Starts with Educated Children®, Room to Read develops children’s foundational literacy skills, as well as life skills that promote gender equality. We nurture these essential skills in children by training and coaching educators, creating quality learning materials and spaces, strengthening education systems, and delivering programs directly and with partners – all while honoring the dignity of every child. Committed to accelerating learning outcomes for more children, more quickly, we have benefited 45 million children across 24 countries. Room to Read envisions a world free from illiteracy and gender inequality, where all children have room to read, learn and grow. Visit us at www.roomtoread.org.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20241114646182/en/

Contact

Anna Seeley
Room to Read
anna.seeley@roomtoread.org
+1 (925) 304-3393

Source : Room to Read

--BERNAMA

Northern Trust Expands APAC Presence With First Institutional Client In Fiji

KUALA LUMPUR, Nov 14 (Bernama) -- Northern Trust has been selected to provide custody services for Fiji’s sole compulsory superannuation fund, the Fiji National Provident Fund (FNPF).

As the only compulsory superannuation fund in Fiji, FNPF manages the retirement savings of Fijians in the workforce, according to Northern Trust in a statement.

To achieve its investment objectives, FNPF adopts a multi-asset class approach, investing in a range of assets, from listed equities and fixed-income securities to private markets and real estate.

“This win marks a major milestone in our commitment to the APAC region. What sets Northern Trust apart is our ability to tailor our comprehensive range of services and extended capabilities to meet FNPF's unique needs, which helped earn the fund’s trust and confidence.

Moving forward, we are committed to providing more holistic and collaborative solutions to support FNPF's growth, ensuring we remain a trusted partner for long-term success,” said Northern Trust Head of Asia Pacific, Angelo Calvitto.

Meanwhile, FNPF Chief Investment Officer, Naibuka Saune said: "Our goal is to provide our members with the best experience, and that meant finding a partner who could offer more comprehensive custodial services.

“Northern Trust has proven to be that partner, allowing us to shift our focus to core investment activities while they handle our custody needs.”

Northern Trust has an established network of offices across Asia Pacific (APAC) in Beijing, Bengaluru, Hong Kong, Kuala Lumpur, Manila, Melbourne, Pune, Singapore, Sydney and Tokyo.

The company has strong relationships with some of the region’s largest central banks, sovereign wealth funds, government agencies, corporations and asset managers, offering a comprehensive range of customised asset servicing, asset management and capital markets solutions.

-- BERNAMA

CLOUDERA UNVEILS NEW AI ASSISTANT TO HELP SUPERCHARGE EFFICIENCY FOR DATA PRACTITIONERS

Cloudera Copilot for Cloudera AI accelerates productivity, enhances collaboration, and supports continuous learning to improve project outcomes for data scientists, engineers, and developers

SANTA CLARA, Calif. and PARIS, Nov 14 (Bernama-GLOBE NEWSWIRE) -- Cloudera, the only true hybrid platform for data, analytics, and AI, today announced at EVOLVE24 Paris, Cloudera Copilot for Cloudera AI, introducing secure and intelligent assistant capabilities that help to supercharge productivity and streamline data workflows. Built to meet the needs of data scientists, engineers, and developers, Cloudera Copilot improves reproducibility across projects, ultimately helping to enable enterprises to get trusted data, analytics, and AI applications into production faster than ever.

At the forefront of digital transformation and AI journeys, data practitioners face an increasingly complex web of productivity, collaboration, and duplication challenges. AI assistants overcome these challenges by enhancing the user experience for data practitioners, while providing IT leaders seeking secure AI-enhanced tools for peace of mind. By embedding an AI-powered assistant directly into Cloudera, Cloudera Copilot helps users write high-quality, consistent code and focus on innovation more effectively and securely.

Cloudera is one of the first data and analytics platform vendors to deliver an AI assistant specifically tailored for data practitioners, offering deep integration within data workflows in a secure, enterprise-grade platform that prioritizes compliance and governance. Cloudera Copilot operates within an AI ecosystem, delivering robust, AI-driven coding assistance while also providing on-demand support, reinforcing Cloudera’s position as a trusted data partner and the leader in secure, hybrid AI solutions.

Specifically, Cloudera Copilot:

· Automates code generation, data transformation, and troubleshooting, enabling data practitioners to focus on high-impact tasks and innovation.
· Provides consistent coding assistance, empowering teams to work more effectively across diverse languages, libraries, and workflows.
· Includes on-demand guidance, optimal solutions, and insights for users to maintain high coding standards, ultimately reducing errors and improving project outcomes.

“Data practitioners are the lifeblood of an enterprise and giving them AI-powered tools specifically designed to enhance their job performance offers benefits to a business as a whole,” said industry analyst, Sanjeev Mohan. “AI assistants like Cloudera Copilot expand the scope of employees who can access AI tools so an entire organization can capitalize fully on the benefits of AI. This unlocks greater visibility, efficiency, and productivity.”

“Cloudera is continuously modernizing our AI solutions to give our customers deeper access to data-driven insights at scale,” said Dipto Chakravarty, Chief Product Officer at Cloudera. “Today, Cloudera provides one of the fastest routes to achieving trusted AI initiatives, and Cloudera Copilot further accelerates enterprise’s ability to derive business value from their data via actionable insight.”

Visit our Cloudera blog to learn more about Cloudera Copilot for Cloudera AI.

About Cloudera
Cloudera is the only true hybrid platform for data, analytics, and AI. With 100x more data under management than other cloud-only vendors, Cloudera empowers global enterprises to transform data of all types, on any public or private cloud, into valuable, trusted insights. Our open data lakehouse delivers scalable and secure data management with portable cloud-native analytics, enabling customers to bring GenAI models to their data while maintaining privacy and ensuring responsible, reliable AI deployments. The world’s largest brands in financial services, insurance, media, manufacturing, and government rely on Cloudera to use their data to solve what was impossible—today and in the future.

To learn more, visit Cloudera.com and follow us on LinkedIn and X. Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.

Contact
Jess Hohn-Cabana
cloudera@v2comms.com

SOURCE: Cloudera, Inc.

--BERNAMA

MEDIDATA SECURES HIGHEST LEADERSHIP POSITION IN EVEREST GROUP'S FIRST LIFE SCIENCES CLINICAL TRIAL MANAGEMENT SYSTEM PRODUCTS PEAK MATRIX® ASSESSMENT

NEW YORK, Nov 14 (Bernama-BUSINESS WIRE) -- Medidata, a Dassault Systèmes brand and the leading provider of clinical trial solutions to the life sciences industry, has been recognized as a leader in Everest Group's first-ever Life Sciences Clinical Trial Management System Products PEAK Matrix® Assessment 2024. The report assessed 13 providers based on the market impact of their products and their ability to deliver successful, high-quality offerings.

Medidata Rave CTMS leads the industry by providing seamless, real-time patient data outputs that transform enrollment tracking and enable faster, data-driven decisions. Offering instant visibility for study teams, Rave CTMS streamlines collaboration, eliminates manual data entry, and accelerates trial timelines with exceptional accuracy.

“We are honored to be recognized as the highest leader in CTMS by Everest Group,” said Tom Doyle, chief technology officer, Medidata. “This accolade underscores our unwavering commitment to transforming research and reaffirms our strategy to deliver new, AI-powered experiences that reshape how organizations design, plan, and manage trials end-to-end with the greatest impact.”

Added Doyle, “In 2025, Medidata will embed AI-driven insights within study planning and execution solutions, enabling simulation of trial design, process simplification, and enhanced efficiency.”

Medidata is the only provider to be named a leader in Everest Group’s CTMS, electronic data capture (EDC) and decentralized clinical trial (DCT) assessments for its Medidata Rave EDC, Medidata Platform, and its work in DCT.

For more information, visit our website.

About Medidata

Medidata is powering smarter treatments and healthier people through digital solutions to support clinical trials. Celebrating 25 years of ground-breaking technological innovation across more than 34,000 trials and 10 million patients, Medidata offers industry-leading expertise, analytics-powered insights, and the largest patient-level historical clinical trial data set in the world. More than 1 million registered users across approximately 2,200 customers trust Medidata’s seamless, end-to-end platform to improve patient experiences, accelerate clinical breakthroughs, and bring therapies to market faster. A Dassault Systèmes brand (Euronext Paris: FR0014003TT8, DSY.PA), Medidata is headquartered in New York City and has been recognized as a Leader by Everest Group and IDC. Discover more at www.medidata.com and follow us @Medidata.

About Dassault Systèmes

Dassault Systèmes is a catalyst for human progress. We provide business and people with collaborative virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers can redefine the creation, production and life-cycle-management processes of their offer and thus have a meaningful impact to make the world more sustainable. The beauty of the Experience Economy is that it is a human-centered economy for the benefit of all – consumers, patients and citizens. Dassault Systèmes brings value to more than 350,000 customers of all sizes, in all industries, in more than 150 countries. For more information, visit www.3ds.com.

© Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

About Everest Group

Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at www.everestgrp.com.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20241112190210/en/

Contact

Medidata PR
Medidata.PR@3ds.com

Analyst Relations
Medidata.AR@3ds.com

Source : Medidata

--BERNAMA

JUMIO ANNOUNCES MIKE NAWROCKI AS CHIEF REVENUE OFFICER

                                

Seasoned sales and revenue leader brings over two decades of experience driving growth, leading high-performance teams and scaling organizations through rapid expansion

SUNNYVALE, Calif., Nov 13 (Bernama-BUSINESS WIRE) -- Jumio, the leading provider of automated, AI-driven identity verification, risk signals and compliance solutions, today announced the appointment of Mike Nawrocki as chief revenue officer.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20241112578447/en/

Nawrocki has more than 25 years of experience in sales and revenue leadership, with a proven track record of assembling and managing high-performance sales organizations through rapid growth scenarios, including one IPO and five acquisitions. He was most recently the CRO at Trustwave, and has held global senior leadership roles at Capgemini, Leidos and Lockheed Martin.

Nawrocki’s appointment comes at a pivotal time for Jumio, as the company continues to innovate and push the boundaries of online security to address increasingly sophisticated fraud tactics.

“This is a defining moment for Jumio, as we harness cutting-edge technology and an exceptional team to tackle the escalating challenges of identity fraud,” said Jumio CEO Robert Prigge. “Mike joins us at a critical time to meet the demand for innovative identity verification solutions, further strengthening our seasoned leadership team as we strive to lead the future of digital security.”

“I’m thrilled to help accelerate Jumio’s global impact, expanding our reach and empowering more customers to enhance security and trust in their digital interactions,” Nawrocki said. “2025 will be a pivotal year for Jumio, and I’m eager to drive our growth as we continue redefining what’s possible in online security.”

To learn more about Jumio and its award-winning, AI-powered solutions, visit jumio.com.

About Jumio

Jumio helps organizations to know and trust their customers online. From account opening to ongoing monitoring, the Jumio Platform provides advanced identity verification, risk signals and compliance solutions that help you accurately establish, maintain and reassert trust.

Leveraging powerful technology including automation, biometrics, AI/machine learning, liveness detection and no-code orchestration with hundreds of data sources, Jumio helps you fight fraud and financial crime, onboard good customers faster and meet regulatory compliance including KYC and AML. Jumio has processed more than 1 billion transactions spanning over 200 countries and territories from real-time web and mobile transactions.

Based in Sunnyvale, California, Jumio operates globally with offices and representation in North America, Latin America, Europe, Asia Pacific and the Middle East and has been the recipient of numerous awards for innovation. Jumio is backed by Centana Growth Partners, Great Hill Partners and Millennium Technology Value Partners.

For more information, please visit www.jumio.com.

View source version on businesswire.com:
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Contact

U.S. Media Contact
Allison Knight
10Fold Communications
jumio@10fold.com
806-570-9819

Europe Media Contact
Harriet King
FleishmanHillard UK
harriet.king@fleishman.com
+44 7765673794

APAC Media Contact
Luke Nazir
FINN Partners
Luke.Nazir@finnpartners.com
+65 8139 2504

Source : Jumio

--BERNAMA

VRAD UNVEILS TWO VIRTUAL REALITY-BASED MEDICAL SIMULATORS FOR GLOBAL MARKETS

KUALA LUMPUR, Nov 13 (Bernama) -- VRAD Co Ltd has announced its entry into international markets by launching two widely recognised Korean-developed virtual reality (VR)-based simulators, NS_Core, a nursing skills education simulator, and IP_Trauma, a trauma patient care simulator.

According to VRAD in a statement, these products support a broad range of languages, including Korean, English, Vietnamese, Thai, Indonesian, Chinese, Japanese, Kazakh, and German, with Spanish and French language support anticipated by the end of the year.

NS_Core is an immersive clinical simulation solution designed for nursing skill training using Meta's virtual reality headset, allowing users to perform a variety of clinical exercises in a VR environment with simulated patients.

This solution offers an innovative approach to addressing the challenges of hands-on medical training within nursing school curricula by providing a metaverse-based virtual training space.

Developed through a collaboration between general hospitals and university nursing departments, NS_Core enables intensive, repetitive practice on 20 essential nursing skills, significantly enhancing clinical performance among nursing students.

Meanwhile, IP_Trauma offers a comprehensive VR training environment for medical personnel to acquire and refine essential trauma care skills, areas traditionally challenging to practice effectively.

Developed in partnership with several prominent Korean universities and hospitals, it is an immersive clinical simulation platform featuring reactive scenario simulations, where outcomes vary based on the user’s choices and actions. It also adheres to the globally recognised Advanced Trauma Life Support (ATLS) protocol standards.

Within the IP_Trauma simulator, multiple users can communicate in real time, practicing critical decision-making and trauma care techniques in a virtual environment. The simulation covers over 40 procedural steps, from pre-hospital preparation to patient transfer to the operating room.

Currently recognised as a leading VR medical technology provider in Korea, VRAD’s products are actively used in over 90 medical and educational institutions, both domestically and internationally.

-- BERNAMA

ATRC'S VENTUREONE LAUNCHES QUANTUMGATE TO SECURE DATA FOR THE QUANTUM ERA AT CYBERQ

 

ATRC’s VentureOne Launches QuantumGate to Secure Data for the Quantum Era at CyberQ (Photo: AETOSWire)

· New venture unveils an advanced suite of data security products to protect data assets against increasing cyber threats
· Its proprietary technology was developed by experts at Abu Dhabi’s Technology Innovation Institute

ABU DHABI, United Arab Emirates, Nov 13 (Bernama-BUSINESS WIRE) -- The Advanced Technology Research Council’s commercialization arm, VentureOne, has launched QuantumGate, a new venture that offers a suite of advanced data security products to protect organizations’ data assets in the quantum era, at CyberQ in Abu Dhabi today.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20241112430830/en/

H.E. Faisal Al Bannai, the Secretary General of ATRC, said, “The quantum era isn’t a distant threat—it is here. The launch of QuantumGate is a pivotal step in safeguarding invaluable data assets against ever-increasing cybersecurity threats. QuantumGate’s sovereign solutions will ensure our country’s and our organizations’ sensitive information stays safe.”

“Cryptographic algorithms are used by virtually all organizations to encrypt and protect data,” said Dr. Najwa Aaraj, the CEO of the Technology Innovation Institute. “But advancements in quantum computing will render many of them obsolete in as little as five to 10 years. Even with current security measures, bad actors can collect and store organizational data to decrypt it later, when quantum computers are more widely available. This means the risk is imminent—organizational data is already at risk.”

QuantumGate’s data security products are based on proprietary technology from the Technology Innovation Institute that will allow organizations to protect their data assets against current and emerging threats while also ensuring compliance with upcoming cryptographic regulations. The product suite includes the following:

· QSphere, which consists of a post-quantum VPN and a post-quantum email, file folder, and text encryption and decryption application.
· Salina, an identity and access management tool designed to simplify the authentication processes by eliminating the need to use passwords.

"With recent advancements in quantum computing, it is obvious to all security professionals that today's crypto solutions will be soon seriously challenged,” said Reda Nidhakou, the Acting CEO of VentureOne, QuantumGate’s parent company. “To prevent catastrophic losses, it’s critical for sensitive businesses to transition now to post-quantum security systems. Our mission is to make this process as seamless as possible through resilient, agile, state-of-the-art solutions.”

In addition to offering data security products, QuantumGate will offer advisory services to support organizations in their transition from classic to post-quantum cryptography, while ensuring minimal disruption to operations.

QuantumGate is the third venture launched by VentureOne. SteerAI, which develops autonomous mobility technology, launched in October 2024. AI71, which creates business solutions using the Falcon generative AI models, launched in 2023.

LinkedIn

Source: AETOSWire

View source version on businesswire.com:
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Contact

Menna Massoud
Menna.massoud@edelman.com

Source : QuantumGate

--BERNAMA

FORMER SKYSCANNER EXECUTIVE FILIP FILIPOV JOINS OAG AS CHIEF OPERATING OFFICER

LONDON, Nov 13 (Bernama-BUSINESS WIRE) -- OAG, the world’s leading data platform for the global travel industry, is delighted to announce Filip Filipov as the company’s new Chief Operating Officer.

Filipov, formerly VP of Product and Strategy at Skyscanner, played a key role in accelerating growth at the digital travel company and led a range of teams during his tenure. He brings a wealth of insight from the travel and technology sector alongside valuable scale up experience.

As COO of OAG, Filipov will focus on optimizing business operations, enhancing performance whilst developing the company’s long term strategic vision. This appointment aligns with OAG's accelerated growth strategy, bolstered by its acquisition of Infare in July 2023. The acquisition added airfare data to OAG's intelligence platform, enabling the company to offer comprehensive data solutions across the supply, demand, and pricing value chain.

Filip has held senior management positions across venture capital and strategy consulting including Opera Solutions in New York and London.

CEO of OAG, Phil Callow, said: “Filip brings a deep understanding of the travel and technology sector. As OAG continues to expand, his expertise will be invaluable in guiding us through an ambitious phase of growth. His passion for data and the aviation industry makes him an excellent fit for our customer-centric and quality-driven culture.”

Commenting on his new appointment, Filip said:

“I am delighted to join OAG. I’ve been struck by the depth of talent and ambition throughout the organisation. Now with its unique ability to combine supply, demand, and pricing data I am excited to build on what’s already been achieved and to apply my scale-up experience across all operations to the benefit of our customers.”

This appointment follows the addition of Shane Corstorphine, former Skyscanner CFO, as NED in July.

About OAG

OAG is the leading data platform for the global travel industry, powering the growth and innovation of the air travel ecosystem. It has the world’s largest network of flight information.

For more information on how OAG visit www.oag.com.

View source version on businesswire.com:
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Contact

pressoffice@oag.com

Source : OAG

--BERNAMA

LREIT REPORTS 11.4 PCT RETAIL RENTAL REVERSION IN 1Q FY2025

KUALA LUMPUR, Nov 12 (Bernama) -- Managed by Lendlease Global Commercial Trust Management Pte Ltd (Manager), Lendlease Global Commercial REIT (LREIT), has posted a positive rental reversion of 11.4 per cent in its first quarter (1Q) business update for fiscal year 2025 (FY2025).

LREIT, in a statement, said its portfolio committed occupancy continued to improve in 1Q FY2025 to 89.5 per cent from 89.1 per cent in the fourth quarter for fiscal 2024 (FY2024).

In the first three months of FY2025, the lease expiry profile remained well-staggered, with 6.4 per cent by net lettable area (NLA) and 12.1 per cent by gross rental income (GRI) due for renewal in FY2025.

LREIT has maintained a long portfolio weighted average lease expiry (WALE) of approximately 7.4 years by NLA and 4.7 years by GRI, respectively.

The committed occupancy for its retail portfolio remained high at 99.9 per cent, with a positive rental reversion of 11.4 per cent and a healthy tenant retention rate of 90.0 per cent as at Sept 30. Tenant sales in 1Q FY2025 continued to trend above pre-COVID-19 average levels.

Notwithstanding the high occupancy rate, the Manager stays focused on strengthening the tenancy mix and bringing in new offerings to rejuvenate the malls. New tenants brought onboard include Tims Signature, Eclaire & Savoir Cafe and Slow Green.

As at Sept 30, office tenants accounted for approximately 21 per cent of portfolio GRI with a long WALE of 12.2 years by NLA and 14.5 years by GRI.

The Manager continues to see good leasing interests for Building 3 of Sky Complex. For the quarter, committed occupancy rate for Sky Complex improved to 75.0 per cent and the Manager is in advanced negotiations with potential tenants as it continues to drive leasing of Building 3 at market rental.

Meanwhile, interest coverage ratio (ICR) as at the period end was 2.9 times, providing a sufficient buffer from its debt covenants of 2.0 times. Approximately 70 per cent of borrowings are hedged to fixed rates as at Sept 30 with a weighted average cost of debt of 3.74 per cent per annum, mainly due to the replacement of EURIBOR interest rate hedge at a higher rate in October 2023.

Moreover, LREIT achieved first position in GRESB Asia Retail (Listed) category for five consecutive years since listing for its environmental, social and governance (ESG) performance and strong leadership in sustainability.

-- BERNAMA

HCLTECH INTEGRATES AI FORCE WITH GITHUB COPILOT TO ENHANCE SOFTWARE DEVELOPMENT LIFECYCLE

KUALA LUMPUR, Nov 11 (Bernama) -- HCLTech, a global technology company, has launched its AI Force extension for GitHub Copilot on the Visual Studio Marketplace, the world’s most widely adopted artificial intelligence (AI) developer tool.

“With the AI Force extension, our clients will achieve benefits beyond enhanced coding experiences such as improved efficiencies, greater productivity and time-to-market acceleration.

“This integration helps them reduce technical debt and develop better quality software that is easier to maintain,” said HCLTech Senior Vice President and Global Lead, GenAI Practice, Apoorv Iyer in a statement.

This integration aims to streamline software development workflows, enhance developer flexibility and optimise code performance, positioning HCLTech among the first India-headquartered technology service providers to collaborate with Microsoft for creating a GitHub Copilot Extension.

Through its AI Force, the company aims to help clients automate tasks and incorporate intelligence throughout every phase of the engineering lifecycle.

Integrated with GitHub Copilot Chat, the HCLTech AI Force extension enhances extensibility and covers a broad range of use cases, including legacy modernisation, migration, development, development operations (DevOps), automation, support, operations, continuous feedback, and end-to-end benefits measurement.

-- BERNAMA

MONSHA'AT: BIBAN24 FUELS REGIONAL SME GROWTH AND DEVELOPMENT WITH LANDMARK AGREEMENTS WORTH OVER SAR 35 BILLION LAUNCHED DURING EXHIBITION

RIYADH, Saudi Arabia, Nov 11 (Bernama-GLOBE NEWSWIRE) -- Biban24 — Saudi Arabia’s flagship startup and SME forum — set the stage for the advancement of Saudi entrepreneurship, bringing leading and budding entrepreneurs, businesses and investors from around the world together to launch a series of remarkable agreements worth more than $9 billion.

Organized by Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, Biban24 — which took place from 5 to 9 November at the Riyadh Front Exhibition & Conference Center — The forum attracted an impressive 182,000 visitors, and raised the bar for SME partnership-working, creating a constructive environment for investors and entrepreneurs to launch impactful partnerships and businesses.

The fifth and final day of the gathering brought leading entities together to sign a diverse selection of innovative agreements, Memorandums of Understanding (MoU) and exclusive partnerships aimed at advancing regional and global entrepreneurship.

Notably, on Day 5 of the event, Tameed launched a financing portfolio worth SAR 2.6 billion. Interactive Smart Communications also introduced a financing portfolio valued at SAR 1 billion, while Mudarabah announced a portfolio of SAR 1 billion. Additionally, Saudi Aramco announced investment rounds from WAED Ventures worth SAR 18 million.

Biban24 also hosted the final rounds of the Entrepreneurship World Cup (EWC). 100 finalists — representing 52 countries — participated in the finals of the annual startup pitch competition, providing competitors the chance to win $1 million in cash prizes and benefit from  providing competitors the chance to win $1 million in cash prizes and benefit from networking and access to investment opportunities.

In previous years, the EWC featured several award tracks, including “Growth Stage”, “Early Stage”, “Idea Stage”, and “Innovation Priorities”, all aimed at supporting and empowering entrepreneurs worldwide to develop their projects, hone their skills, and engage with a global network of mentors and advisors.

The 2025 edition of the competition placed an emphasis on a new strategic track dedicated to space technologies, encompassing several subfields such as mining, health and sports, agriculture, and resource management. This track complements the general track, with cash prizes specifically for space technologies totaling $200,000, in addition to the overall prize pool of $800,000.

On the final day of Biban24, Nomiq was announced as the winner of the “Idea Stage”, Yumari was ranked first place in the “Early Stage” track, while MisMar was named as the winner of the “Growth Stage”.

VitruvianMD was revealed as the overall winner of the healthcare category. EnergyX took first place in the energy category, and Salutes Space was recognized with top honors in the “Economies of the Future” category. Marine Innovation was announced as the winner of the competition’s sustainability category.

https://bibanglobal.sa/

Contact:
Tarek Chahine
tchahine@webershandwick.com


SOURCE : Monsha’at

Media, Car Owners Get An Overview Of JETOUR Fuzhou Factory

KUALA LUMPUR, NOV 8 (Bernama) -- JETOUR AUTO, recently invited 300 international journalists and car owners to Fuzhou "Dark Factory", offering them a visit know how world-class manufacturing enables the production of intelligent, advanced, and digitised vehicles for global customers.

As an emerging force in the global auto industry, JETOUR operates the intelligent manufacturing platform and quality control system. Serving as the core pillars of JETOUR AUTO manufacturing, the Fuzhou Factory has a complete vehicle manufacturing process, including stamping, welding, painting and assembly.

According to JETOUR in a statement, with an annual capacity of 200,000 units, the factory plans to double its output to 400,000 units per year after expansion in Phase II.

Fuzhou Factory is equipped with an advanced manufacturing system, which not only assures a manufacturing pace of 100 seconds per car on average but meets the demand for flexible manufacturing of multi-model production, namely, four models on two platforms, enabling JETOUR Fuzhou to shift focus based on changes in customer demand.

JETOUR Fuzhou is currently in full production of the JETOUR T2, which was officially launched in Dubai, United Arab Emirates (UAE) in January this year. Since then, the light off-road sports utility vehicle (SUV) has quickly become a hot seller and topped the sales charts in the UAE, Qatar and Saudi Arabia.

The car, known as “Traveler” in China, has been a hot seller since its launch. In December 2023, a total of 13,224 units were sold, surpassing 10,000 units for two consecutive months, and in its first year on the market, the cumulative unit sales have exceeded 200,000 units, making it the best-seller in the light off-road SUV segment in China.

In the next two years, JETOUR will introduce eight new products, covering the urban SUV series, the off-road SUV series, and the pickup series. Starting in 2024, JETOUR will progressively introduce hybrid products into international markets and strive to become the leading brand in the hybrid electric off-road SUV segment.

By 2030, JETOUR plans to build 19 knock-down factories overseas so as to meet the demand for more than 80 markets around the world.

-- BERNAMA

URGENT CALL FOR TRANSPARENCY AS INDUSTRY, POLICY MAKERS CONFRONT WITH FOOD POLYCRISIS - ATNI

KUALA LUMPUR, Nov 8 (Bernama) -- One in five deaths globally is associated with a poor diet, while one out of eight adults are affected by obesity as revealed by Access to Nutrition Initiative (ATNi) in its latest findings.

The fifth edition of the Global Access to Nutrition Index, the largest yet, found that 150 million children are too short for their age because of poor nutrition, and close to a third of women of reproductive age, and half of children, consume inadequate micronutrients.

In a statement, ATNi said the index assessed the world’s 30 largest food and beverage manufacturers and over 52,000 products, representing 23 per cent global market share.

ATNi Executive Director, Greg S. Garrett said: “'Health is wealth'. We know this is true, but most food companies have not yet placed nutrition as core to their business. There is progress, but our findings show overall subpar performance and weaknesses in the market.”

More companies are setting targets to improve their portfolio healthiness, now using internationally recognised Nutrient Profiling Models (NPMs) to classify products as ‘healthier’ but, overall, there have been only marginal improvements in key metrics such as healthiness of product portfolios.

Concurrently, the estimated sales values of company’s healthier products have increased, showing consumers are increasingly purchasing healthier products. Worryingly, product portfolio healthiness was found to be lowest in low-income countries, highlighting disparities in product offerings across different markets and income groups.

Hence, ATNi calls on companies to voluntarily stop marketing to children under 18, improve product portfolio healthiness and fully disclose sales from healthy and unhealthy products using an internationally recognised NPM.

Meanwhile, governments are urged to regulate and build an enabling environment that helps companies protect public health. Well-designed fiscal policies are also needed to make healthier foods more affordable and less healthy foods more expensive.

Responsible investors play a key role in holding companies accountable by investing in those that act ethically, taking into account the long-term financial costs of ill health caused by the current food environment and products.

-- BERNAMA

CSOP MAG Seven ETF Lists On Hong Kong Stock Exchange

KUALA LUMPUR, Nov 6 (Bernama) -- CSOP Asset Management Limited (CSOP) has announced the listing of the first MAG Seven exchange-traded fund (ETF) in Hong Kong, CSOP MAG Seven ETF (3454.HK), on the Hong Kong Stock Exchange.

“Since our establishment in 2008, CSOP has been committed to providing high-quality and innovative investment tools to Asian investors.

“Today, we are proud to introduce the first Magnificent Seven ETF to Hong Kong. This allows investors to easily access the United States leading tech companies in a flexible and transparent manner,” said CSOP Chief Executive Officer, Ding Chen.

In order to track the performance of the Solactive Magnificent Seven Index, 3454.HK deploys a full replication strategy, according to CSOP in a statement.

With a listing price of about HK$7.8 per unit, trading unit of 100 and management fee of 0.6 per cent, 3454.HK has received an initial investment of US$5 million. (US$1=RM4.33)

The term “MAG Seven”, or “Magnificent Seven”, was coined by Bank of America Chief Investment Strategist Michael Hartnett in 2023. MAG Seven companies are known for their market leadership, technological influence, and impact on consumer behaviour.

The 3454.HK provides an opportunity to buy MAG Seven stocks at once with low investment thresholds during Hong Kong trading hours.

As a leading ETF manager in Asia, CSOP is committed to facilitating cross-border investment through the provision of efficient and transparent ETF products.

-- BERNAMA

LRN Corporation Bags Best Compliance Training Initiative In Fraud And Financial Crime

KUALA LUMPUR, Nov 5 (Bernama) -- LRN Corporation, a global leader in ethics and compliance solutions, has won the Best Compliance Training Initiative/Provider in the Fraud and Financial Crime category at the prestigious seventh annual Regulation Asia Awards for Excellence.

Presented in Singapore, the award recognising LRN’s commitment to transforming compliance training through its innovative, comprehensive software as a service (SaaS) platform, LRN Catalyst.

“Receiving this accolade from Regulation Asia underscores LRN’s commitment to excellence in compliance training, especially in the Asia Pacific region, which is an incredibly dynamic and evolving market for ethics and compliance.

“This recognition highlights our dedication to creating impactful solutions that address today’s most pressing regulatory challenges,” said LRN senior vice president, APAC, Dean Rogers in a statement.

This year’s Regulation Asia Awards saw a record 190 submissions, evaluated by a distinguished panel of senior industry experts and Regulation Asia’s editorial teams.

Amid this intense competition, LRN stood out for its ethics & compliance training and management platform, LRN Catalyst, which equips organisations worldwide with powerful tools for building strong compliance cultures.

The Regulation Asia Awards for Excellence celebrates the efforts of leading financial institutions, market infrastructures, technology firms, service providers, advisory firms, and industry bodies across Asia Pacific (APAC).

This awards programme is recognised as the most rigorous and comprehensive awards focused on the APAC risk, regulatory, and compliance community.

This accolade follows LRN’s recent success at the Brandon Hall Group HCM Excellence Awards, where the company won five awards. These achievements collectively reinforce the company’s leadership in advancing ethics and compliance education and its unwavering commitment to helping organisations foster principled performance.

-- BERNAMA

Wise Direct Connection To Philippines' InstaPay Enhances Real-time Transfers

KUALA LUMPUR, Nov 5 (Bernama) -- Global technology company, Wise, has been granted direct access to InstaPay, the Philippines’ real-time payment system, and can also directly settle with the Bangko Sentral ng Pilipinas’ (BSP) real-time gross payment system, PhilPaSS Plus.

Wise’s direct connection to InstaPay will enhance the cross-border payment experience for nearly 13 million customers worldwide, and millions more users of some of the world’s largest banks and financial institutions, such as Bank Mandiri, who offer their customers international payments through Wise Platform.

Wise Country Manager for Philippines, Areson Cuevas in a statement said: “Six months after launching the Wise account and prepaid card in the Philippines, we are excited to be directly connected to InstaPay and to directly settle with PhilPaSSPlus.

“This milestone, following our successful direct integrations into five other payment systems worldwide, marks a significant step forward in our mission to make international payments faster, cheaper, and more convenient for our Filipino customers and our Wise Platform partners.”

The benefits of InstaPay include instant transactions in which Wise customers worldwide, including customers of Wise Platform partners, can now send up to 50,000 Philippine peso (PHP) from 28 currencies to the Philippines instantly. (100PHP = RM7.47)

Filipino customers can now fund their Wise account and card transactions quickly, affordably, and conveniently via bank transfers or e-wallets. This feature broadens access to the Wise Account, making it even easier for people to send and spend globally with Wise’s competitive exchange rate and low fees.

In addition, InstaPay provides Wise Platform partners quicker, cheaper, and more reliable payouts to the Philippines with high straight-through processing rates.

Wise has continued to invest in building direct connections to payment systems, starting with the United Kingdom in 2018 where Wise was the first non-bank to connect to the Faster Payment System.

That set the precedent for Wise to be granted direct access to payment systems in the European Union in 2020, as well as Singapore and Australia in 2021. Last month, Wise also received approval to join Japan’s domestic payment network, Zengin, and secured a Payment Institution licence to connect directly to Brazil’s instant payment system, PIX.

-- BERNAMA

PANGEA LAUNCHES TWO NEW ADVANCED MATERIALS

Pulvera & Verita Offer Industry-Leading Luxury with Reduced Environmental Impact 


ROCHESTER, Mich., Nov 6 (Bernama-GLOBE NEWSWIRE) -- Pangea, a leading innovator in sustainable materials for the automotive industry, proudly announces the launch of two groundbreaking products: Pulvera and Verita. These advanced automotive leathers represent a bold step in Pangea's ongoing commitment to sustainability and responsible manufacturing practices, aligning with the company's vision of creating eco-friendly materials that meet the needs of a changing world.

In 2024, Pangea's global teams set out to design a new class of leather materials specifically for the automotive industry. These products are not only nearly 90% bio-based in their finished state but also actively divert materials from landfills, dramatically reducing waste in an innovative way.

“Nothing Replaces Real: Charting the Path to a Zero-Waste Future”
As part of the Pangea Corporate Trend Show series, Pangea introduced "Chart the Path," a key chapter in the company's sustainability journey. Engaging with customers, Pangea outlined how durable, natural materials are transforming the automotive industry while aligning with global sustainability goals. The highlight of the series was the launch of Pulvera and Verita, two new product offerings that set new benchmarks for lower environmental impact, innovative recycled chemistry, and reduced Global Warming Potential (GWP).

Introducing Pangea Pulvera: Ecological Leather with a Circular Process
Pulvera is a full-bodied leather that embraces a circular manufacturing process. By incorporating a recycled compound made from buffing waste, Pulvera significantly reduces its environmental footprint. This unique process, which utilizes water and renewable energy, transforms leather waste into a valuable resource that replaces nearly half of the chemicals used in dyeing and softening the leather.

• Renewable Chemistry: 29% of all chemicals used
• Recycled Chemistry: 37% in the retanning process; 16% of all chemicals overall
• Environmental Impact: Global Warming Potential (GWP) impact up to 40% lower than traditional retanning processes

Pulvera stands out as a luxurious, sustainable material that exemplifies Pangea's commitment to eco-friendly innovations in automotive interiors.

Introducing Pangea Verita: Lavish, Compostable Leather with Low Environmental Impact

Pangea Verita elevates the art of leather craftsmanship by creating a compostable substrate through an alternative metal-free tanning process. This semi-aniline material highlights the natural beauty of the animal hide with minimal coating, emphasizing its unique characteristics while maintaining a lower environmental footprint.

• Renewable Chemistry: 45% of all chemicals used
• Global Warming Potential (GWP): Up to 12% lower than standard chrome-tan substrates
• Biogenic Carbon: 92% bio-based as a finished product

Verita's innovative design and sustainable chemistry enable a higher biogenic carbon content, enhancing its alignment with a circular economy and reducing its overall impact on the environment.

Building a Sustainable Future with Bio-Based Materials
Pangea's new products, Pulvera and Verita, showcase how high bio-based content materials can revolutionize the automotive industry without compromising performance. With traditional Pangea leathers already achieving 80-85% bio-based content, Pulvera and Verita push these boundaries further, reaching up to 92% bio-based in their end products.

These advancements reinforce Pangea's belief that leather, as a natural and highly renewable material, plays a vital role in creating a more sustainable future for the automotive industry. By increasing the use of bio-based resources, Pangea is dedicated to reducing the carbon footprint of its products and contributing to a healthier planet.

About Pangea

Pangea is a global leather supplier to the world’s leading automotive brands, providing sustainable solutions that drive the future of interiors. Headquartered in Rochester Hills, Michigan, Pangea serves its customers on four continents with 3,000 team members. For more information, visit www.pangeamade.com, and follow us on LinkedIn.

Media Contact

Jacquelyn Smith, Pangea
248-436-2200
jsmith@pangeamade.com


Media Attachments 

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/f2c32e02-b825-4e44-b87b-5fcfbc759fb9

https://www.globenewswire.com/NewsRoom/AttachmentNg/cfcc917f-8319-4571-abc1-dcaf4ace7bd1

https://www.globenewswire.com/NewsRoom/AttachmentNg/15726cd1-c6fc-4161-ba24-17c08a2649d8

A video accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/0f84f732-42fd-47eb-8f17-dd74c3bfdb4a    


SOURCE : Pangea

AM Best Withdraws Generali Life Hong Kong’s Ratings

KUALA LUMPUR, Nov 4 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a+” (Excellent) of Generali Life (Hong Kong) Limited (Generali Hong Kong).

A subsidiary of Italy’s Assicurazioni Generali S.p.A. (Generali), the outlook of Generali Hong Kong’s credit ratings (ratings) is stable, said AM Best in a statement.

Concurrently, the credit rating agency has withdrawn these ratings as the entity has requested to no longer participate in its interactive rating process.

The ratings reflect Generali’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management.

In addition, the ratings also factor in the strategic importance of Generali Hong Kong to Generali.

Headquartered in the United States, AM Best does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

-- BERNAMA

18TH GLOBAL CITIZENSHIP CONFERENCE TO BE HELD IN SINGAPORE

LONDON, Nov 5 (Bernama-GLOBE NEWSWIRE) -- More than 400 delegates from over 50 countries are expected to attend the 18^th annual Global Citizenship Conference, which takes place 27–29 November in Singapore.

Hosted by world-leading international citizenship and residence advisory firm Henley & Partners, this annual event has become the world’s largest and most significant conference on investment migration, bringing together presidents and prime ministers, other senior government ministers and officials, and leading academics, as well as top-tier private client advisors and wealth management professionals, and financial and business media.

The 2024 conference program features sophisticated content on the dynamics shaping the mobility options of wealthy families today. The conference will explore legal and economic developments and their implications, societal impacts relevant to global citizens, and trends in investment and wealth migration, along with regulatory and tax changes and the evolving concept of citizenship. Delegates will have the opportunity to engage with some of the world’s finest minds and latest ideas around global citizenship and interconnectivity and discover how to harness the power of global mobility.

Dr. Christian H. Kalin, Group Chairman of Henley & Partners, emphasizes the timely relevance of connecting across borders as global citizens. “The Great Wealth Migration, as we call it, reflects a global trend fueled by geopolitical instability, economic uncertainty, the climate crisis, and technological disruption. Wealthy individuals are increasingly recognizing that, in an interconnected world, relying solely on any one nation as a place of residence or citizenship — even a prosperous, democratic one — can be a risk they are no longer willing to take. As they consider their options, however, there is a crucial opportunity to reflect on the broader implications of their decisions. How can wealth be used not only for personal advantage but also to create positive social impact? Global citizenship, at its core, is the belief that we have responsibilities that extend beyond our own borders — to our communities and to the world as a whole. This conference seeks to broaden our perspectives through shared global learning, empowering us to drive meaningful change on both a local and a global scale.”

Notable key speakers at the conference include the Hon. Dickon Mitchell, Prime Minister of Grenada, and the Hon. Dr. Terrance Drew, Prime Minister of St. Kitts and Nevis. The Hon. Mohamed Nasheed, former President of the Maldives and current Secretary-General of the Climate Vulnerable Forum, will also share his insights along with senior government officials from Indonesia, Montenegro, and the South Pacific.

Legendary global investor and best-selling author, Jim Rogers, will offer his perspective on global financial trends. Other distinguished speakers include Dr. Parag Khanna, Founder and CEO of Climate Alpha, Prof. Mehari Taddele Maru of the European University Institute and John Hopkins University, Irene Mia, Senior Fellow at the International Institute for Strategic Studies, and Balaji Srinivasan, American tech entrepreneur, investor, and author of The Network State.

A conference highlight will be the 2024 Global Citizen Award Dinner on 28 November, where a remarkable individual working to advance one of the global challenges affecting humanity today, will be honored. This year’s laureate will be announced at the gala event hosted in collaboration with the Swiss non-profit humanitarian organization Andan Foundation, which focuses on promoting the self-reliance of refugees through education, entrepreneurship, and employment, and to which the net proceeds of the evening will be donated.

For further information and media accreditation to attend the 18^th annual Global Residence and Citizenship Conference, please contact:

Sarah Nicklin
Group Head of Public Relations
sarah.nicklin@henleyglobal.com 


SOURCE : HENLEY & PARTNERS GROUP HOLDINGS LTD