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Jiahao Group invited to attend the Jiangsu-Korea Economic Cooperation Forum
Raise the standard for the cooperation between China and South KoreaSEOUL, South Korea, June 13, 2019 /PRNewswire/ -- The Jiangsu-Korea Economic Cooperation Forum was recently held in Jung District, Seoul, South Korea. Allen Shi, chairman of Jiahao Group, a global conglomerate, was invited to the event. Jiahao Group, Suning Holdings and Jiangsu Hengrui Medicine Co., Ltd., as the representatives of three leading Chinese companies, accompanied the Secretary of Jiangsu Provincial Party Committee and other officials to South Korea to guide and promote the high-level cooperation, and were warmly received by the Korean political and business communities. The Jiangsu-Korea Economic Cooperation Forum, hosted by Jiangsu Provincial People's Government, aims to further improve the standards for economic and trade cooperation between China's Jiangsu province and South Korea, increase the number of opportunities for cooperation with South Korea, especially in the fields of intelligent manufacturing, semiconductors, renewable energy, energy conservation and environmental protection, culture and entertainment as well as financial and business services, while advocating for a more comprehensive level of collaboration between the province and South Korea in terms of commerce and trade. Jiangsu-Korea Economic Cooperation Forum In recent years, Jiahao Group, as a global leader whose businesses cover a wide range of sectors, has established a number of collaborative relationships with companies in South Korea's entertainment and fashion industries as well as multi-dimensional partnerships with players in many other sectors across the country. Allen Shi claimed:" Jiahao Group aims to build an independent culture and entertainment industry ecosystem, while continuing its efforts in attracting more high-quality Korean companies to invest in Jiangsu Province by making use of local high-quality resources, as part of an overall move to promote the economic and cultural development of the province." Jiahao Group’s brand store, Artiz Studio, in Seoul During the event, Jiahao Group chairman Allen Shi accompanied Jiangsu government officials as they attended major activities and invited some of the leaders to visit the group's brand store, Artiz Studio, in Seoul. The strength of the brand was recognized by the visitors. Jiahao Group's high-end wedding club Galleria Many of Jiahao Group's brands, including Galleria, Artiz Studio and Grace Kelly, have penetrated deeply into markets and become household names in South Korea, while becoming influencers setting the direction and driving the development and evolution of the industry. Their leadership position has created a lineup of companies and organizations willing to engage and establish close cooperation with these brands. Jiahao Group chairman Allen Shi The independent and open spirit gives Jiahao Group unique advantages in terms of its growth in international markets and enables the company to make outstanding contributions to the cultural and creative cooperation between China and South Korea through the diversity of its brands. At the forum, Jiahao Group acted as a bridge for the friendship as well as the economic and trade cooperation between Chinese and South Koreans, setting the stage to drive more companies and industries to recognize and acknowledge their common goals, and to grow together. Photo - https://photos.prnasia.com/prnh/20190612/2494292-1-a Photo - https://photos.prnasia.com/prnh/20190612/2494292-1-b Photo - https://photos.prnasia.com/prnh/20190612/2494292-1-c Photo - https://photos.prnasia.com/prnh/20190612/2494292-1-d
Avon Foundation announces 2019 scholarship grant winners, taking total donated to nearly $1.5 million
Global Scholarship Programme awards over $400,000 in educational grants to Avon Representatives in over 20 countriesLONDON, June 13, 2019 /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP), a globally recognised leader in direct selling of beauty products and the Avon Foundation for Women have announced nearly 200 scholarships to open up personal development opportunities for Avon Representatives and their families. This year's programme sees the Avon Foundation double its funding from $200,000 to over $400,000 to fuel learning opportunities for Avon's Representatives and their families. The Global Scholarship Programme is part of Avon's global stand4her plan, which aims to improve the lives of 100 million women worldwide by breaking down the barriers holding women back. Each recipient receives a scholarship grant of $2,100 that they can use on tuition, school fees, accommodation and board, books, or transportation. The Scholarship initiative opens up learning opportunities with academic institutions, complementing Avon's broader Academy training programmes for its millions of Representatives across the world. Through the Avon Academy, the company delivers training in modules as diverse as skincare science and make-up trends to online marketing and sales techniques. Launched in 2012, the programme has provided nearly $1.5 million in financial support for over 600 Avon Representatives, their children and grandchildren, to support education and training. This year's winners include Benedetta Giampietri, an Avon Representative from Italy who will be studying for a Master's Degree, and Fernanda Silveira from Brazil. On receiving the award, Fernanda enthused: "My mother has been an Avon Representative for many years, she raised my brother and I and used her Avon income to help invest in our education. I'm so pleased to receive a scholarship to support my post-graduate degree. Thank you so much. This is a wonderful initiative for women - particularly in countries like Brazil where we have little investment in education - to grow and build a better world." Amy Greene, Chair of the Avon Foundation, said: "Warm congratulations to this year's scholarship programme recipients. Avon is built on a long legacy of investing in opportunities for women to earn and learn. We support millions of beauty entrepreneurs to run their own businesses, in their own way and on their own terms and we understand the pivotal role of education, skills development and training in fueling a ripple effect. Opening up opportunities for women create benefits not just for her but also for her family, her community and ultimately the world we all live in. The Avon Foundation is proud that we can support Avon Representatives and their families with access to education, new skills and networks that power their ability to succeed." About Avon Products Inc.For 130 years Avon has stood for women: providing innovative, quality beauty products which are primarily sold to women, through women. Millions of independent sales Representatives across the world sell iconic Avon brands such as Avon Color and ANEW through their social networks, building their own beauty businesses on a full- or part-time basis. Avon supports women's empowerment, entrepreneurship and well-being and has donated over $1billion to women's causes through Avon and the Avon Foundation. Learn more about Avon and its products at www.avonworldwide.com. #stand4her About Avon Foundation for WomenThe Avon Foundation for Women is committed to supporting issues that matter most to women. Since its inception in 1955, the Avon Foundation has promoted or aided charitable, scientific, educational, and humanitarian activities, with a special emphasis on programs that improve the lives of women and their families. Through 2018, Avon and the Avon Foundation for Women have contributed over $1 billion in over 50 countries to support its efforts to eradicate breast cancer and to help end violence against women and girls worldwide. Today, Avon global cause programs focus on breast health awareness and prevention through the Avon Breast Cancer Promise, and to help end violence through the Avon Promise to Help End Violence Against Women and Girls. Related Links :http://www.avon.com
Commercial Aircraft Production to Hit Record High in 2019 with Renewed Competition between Airbus and Boeing
Digitalisation of platforms helps OEMs find a wide range of application opportunities, finds Frost & Sullivan LONDON, June 13, 2019 /PRNewswire/ -- The revival of competition between Boeing and Airbus is expected to result in record delivery of the highly popular narrow-body platforms and a 9.4% year-on-year growth in production. Boeing and Airbus will produce more than 1,750 aircraft in 2019, up from 1,606 units in 2018, and propel the market towards $258.95 billion. Boeing will receive a boost once it finalises its deal for Embraer's airliner business in 2019 to counter Airbus's acquisition of Bombardier's C Series program; it will continue to develop its new mid-market aircraft (NMA) platform and position itself for growth in next-generation markets. "Aircraft OEMs and suppliers will continue to focus on digitalisation of platforms for streamlining flight operations, planning and scheduling, sales and distribution, marketing, disruption management, and technical operations," said Timothy Kuder, Research Analyst, Aerospace & Defense. "Top aerospace companies as well as entrants are investing in R&D centered on electrical propulsion, generation, distribution, storage, and conversion." Frost & Sullivan's recent analysis, 2019 Global Commercial Aerospace Outlook, analyses the current market landscape of the commercial aerospace industry at a global level. It covers the regions of Asia-Pacific, Europe, North America, Middle East and Africa, and Latin America. For further information on this analysis, please visit: http://frost.ly/3j2 "Asia-Pacific will experience the highest growth in terms of aircraft deliveries and will sustain this position in the future. However, North America and Europe will continue to be the largest suppliers of aircraft," noted Kuder. "In terms of technologies, advanced composite materials, additive manufacturing, and electrification will disrupt the design and construction of platforms, while digitalisation of aviation has already evolved into a $1.5 billion business." For additional growth opportunities, aircraft suppliers and MRO facilities will look to: Adopt digital technologies like Blockchain, which can contribute to the mandated traceability requirements of many aerospace digital services. Develop technologies such as fibre metal laminate (FML). Seek opportunities to be vertically integrated with suppliers and OEMs. Foster global partnerships covering new regions, especially in the narrow body markets. Focus on collaboration, partnerships, and cross-industry relationships to achieve wider implementation. Prepare for the servicing of next-generation airframes and engines. 2019 Global Commercial Aerospace Outlook is part of Frost & Sullivan's global Aerospace research and analysis available through the Frost & Sullivan Leadership Council, which helps organisations identify a continuous flow of growth opportunities to succeed in an unpredictable future. About Frost & Sullivan For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. 2019 Global Commercial Aerospace Outlook K35B-22 Contact: Jacqui Holmes T: +64 (0) 3 548 4842 E: firstname.lastname@example.org http://ww2.frost.comRelated Links :http://www.frost.comhttp://ww2.frost.com
UnionPay International Adds New Mobile Payment Solution Packages to Open Source Platform
UPI wallet solution will be open to partner institutions, merchants and developers through the UPI Developer platformSHANGHAI, June 13, 2019 /PRNewswire/ -- UnionPay International ("UPI"), the global leading payment provider, announced today the introduction of the UPI wallet solution through its open platform, UPI Developer. Through logging on to the platform, both institutions and independent developers can access UPI's mobile payment solution to build their own digital wallets, or enrich mobile payment functions and use cases for existing digital wallet services. The mobile payment services will integrate seamlessly with UnionPay cards, providing more opportunities for organizations to develop and streamline mobile payment services for UnionPay's hundreds of millions of cardholders worldwide. UnionPay International continues to deliver innovation and updates to digital service capabilities In response to rapid changes in global consumer payment habits, UPI unveiled UPI Developer in January 2019 and has launched 17 application programming interface (API) packages accessible via the platform to date. The platform is designed to provide increased access to UnionPay's payment and data solutions to accelerate the penetration of its mobile payment technology. Since its launch, UPI Developer has been accessed tens of thousands of times and currently connects over 100 overseas partner institutions and independent developers with UPI's innovative range of cross-border mobile payment products and services. "UnionPay International is constantly updating our technical support programs based on global consumer habits and mobile payment trends to provide a comprehensive suite of digital payment service capabilities," said Mr. Cai Jianbo, CEO of UnionPay International. UPI has built a robust integrated ecosystem that complements traditional offline payment and technical support methods with the latest mobile payment technology to support partner institutions and merchants across the world. "With the launch of UPI Developer, we have fulfilled a growing international demand for access to UnionPay's payment services across a variety of use cases," said Mr. Cai. "By providing partner institutions and developers on-demand access to our products and services, we will be able to rapidly accelerate our digital wallet technology and provide more mobile payment solutions for international cardholders." The integration of the wallet solution with UPI Developer will help institutions and UnionPay achieve shared growth through cooperation. Together with the program guide on the developer platform, developers can access multiple APIs to create a digital wallet solution cost-effectively and reduce time to market. Financial institutions and merchants favor digital wallet solutions The recent Global Mobile Payment Industry Report released by the Global System for Mobile Communications revealed there are over 900 million mobile payment users worldwide. Organizations need to rapidly develop mobile payment services to meet changing consumer payment behavior, and UPI wallet solution will serve as an essential tool to help them maintain a competitive advantage. The aim of launching UPI wallet solution is to offer a comprehensive range of resources to cater to the changing technological landscape and to provide better support for merchants and institutions. UPI's digital wallet solution offers a one-stop service which includes access to the UnionPay global acceptance network, as well as a variety of UnionPay mobile payment functions, card binding and account management technologies. Over 17 institutions across 11 regions, including Hong Kong, Macau, South-East Asia and the Middle East, have adopted UnionPay's global wallet solution to complete or upgrade their mobile wallet products and localize UnionPay's mobile payment services to meet the needs of cardholders. Serving as an example of successful integration, the Bank of China Hong Kong (BOC Hong Kong) combined mobile payment services and QR code payment APIs from UnionPay's Developer platform into their e-wallet, BOC Pay. In doing so, BOC HK enables its users of BOC Pay to enjoy the same QR code payment service as users of the UnionPay app: to make QR code payments at over 10 million merchants across 30 countries and regions.
Hong Kong banks resilient with strong growth in profitability in 2018, finds KPMG report, but global economic uncertainties may affect 2019 performanc
Nascent virtual banking landscape set to transform customer service and usher in the future of banking HONG KONG, June 13, 2019 /PRNewswire/ -- Hong Kong's banking sector showed resilience in 2018, with stable capital and liquidity performance, as well as strengthening profitability, according to KPMG's latest Hong Kong Banking Report. The total assets of all licensed banks grew by 3.6 percent compared to the 8.1 percent seen in 2017. The operating profit before impairment charges of all licensed banks improved slightly on the year before, rising by 15 percent in 2018 in comparison with 13 percent in 2017 and amounting to HKD 268 billion in 2018 from HKD 234 billion in 2017. Given the rise in the HKMA's Base Rate, the average net interest margin (NIM) across the surveyed licensed banks increased by 11 basis points to 1.75 percent. The average NIM for the top 10 licensed banks rose to 1.69 percent in 2018 compared to 1.54 percent for 2017. Nine out of the top 10 banks posted an increase in NIM. Paul McSheaffrey, Hong Kong Head of Banking & Capital Markets, KPMG China, says: "After many years of reducing or stagnant interest margins, 2018 was the year when US and Hong Kong interest rates started to rise, which flowed through to stronger income for Hong Kong banks. However, recent global uncertainty has changed sentiment and further rises in rates are unlikely, with the possibility that some of the improved net interest margin could reverse in 2019." The average cost-to-income ratio of the surveyed banks meanwhile stood at 44 percent for the year ended 2018, an increase from 42.5 percent in 2017 but not as high as the 47.9 percent seen in 2016. For the top 10 surveyed banks, the ratio improved to 39.06 percent as at the end of 2018 from 40.86 percent in 2017. In terms of costs, KPMG predicts technology spend among banks will increase in 2019, to boost innovation-driven growth and a sustainable reduction in operating costs, an imperative for driving further profitability. McSheaffrey continues: "Digital innovation is increasingly a strategic focus for Hong Kong's banking sector. The HKMA has so far granted 8 new virtual banking licenses. Initially focusing on retail customers and small and medium enterprises, we expect that the services provided will quickly become more sophisticated and that traditional banks will respond. This will bring about a much more competitive and innovative environment." Meanwhile, due to global economic uncertainty, total growth in loans and advances decelerated after a strong improvement in 2017. As at the end of 2018, the total loans and advances of the surveyed banks increased by 3.5 percent to HKD 9,028 billion, compared to 14.9 percent growth and a total of HKD 8,725 billion in 2017. Amongst the top 10 surveyed banks, gross loans and advances increased from HKD 7,644 billion in 2017 to HKD 8,068 billion in 2018, a rise of 5.55 percent. Terence Fong, Partner, Financial Services, KPMG China adds: "The impaired loan ratio among Hong Kong banks remained stable on the whole in 2018, with the average impaired loan ratio improving slightly from 0.51 percent in 2017 to 0.50 percent as at the end of 2018. For the top 10 surveyed banks, the average impaired loan ratio stood at 0.63 percent for 2018, which showed continued stability but represented a slight decrease from 0.68 percent in 2017." The exposure to non-bank Mainland China-related business of the surveyed banks increased by 4 percent as at the end of 2018, which reflected decelerated growth in 2018 compared to 15 percent growth in 2017. In aggregate, non-bank Mainland China exposure for the top 10 surveyed banks grew by 2 percent in 2018, with most recording growth in non-bank Mainland China exposure. Looking forwards, the advent of the virtual banks is set to provide new opportunities for the sector. McSheaffrey concludes: "These new players are expected to broaden the selection of banking options, foster innovation and enhance customer experience in the city. New entrants will be vying to increase their market share and customer base, while the incumbent traditional banks will seek to maintain their standing in the market." The Top 10 licensed banks are: Hongkong And Shanghai Banking Corporation Limited (The) Bank of China (Hong Kong) Limited Hang Seng Bank, Limited Standard Chartered Bank (Hong Kong) Limited Industrial And Commercial Bank of China (Asia) Limited Bank of East Asia, Limited (The) China Construction Bank (Asia) Corporation Limited Nanyang Commercial Bank, Limited DBS Bank (Hong Kong) Limited China CITIC Bank International Limited About KPMG China KPMG member firms and its affiliates operating in mainland China, Hong Kong and Macau are collectively referred to as "KPMG China". KPMG China is based in 22 offices across 20 cities with around 12,000 partners and staff in Beijing, Changsha, Chengdu, Chongqing, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Tianjin, Wuhan, Xiamen, Xi'an, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located. KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 153 countries and territories and have 207,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in mainland China. KPMG was also the first among the Big Four in mainland China to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG's appointment for multi-disciplinary services (including audit, tax and advisory) by some of China's most prestigious companies.
Ping An Ranks 40th in BrandZ(TM) Global Brands; Tops Global Insurance Brand List for 4th Consecutive Year
SHANGHAI and HONG KONG, June 13, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group"; HKEx: 2318; SSE: 601318) has ranked 40th in the latest BrandZ(TM) Top 100 Most Valuable Brands 2018 published by WPP, the world's largest communications services group, and Kantar Millward Brown, a research firm. Ping An has moved up three places since last year. The Company tops the global insurance brands for the fourth consecutive year and is among the top three global financial brands, with a brand value of US$29.47 billion, representing a growth of 13%. Ping An ranks sixth among all Chinese brands in BrandZ(TM) Top 100 list. This year, 15 Chinese enterprises have been included as BrandZ(TM) Top 100 Most Valuable Brands. These include Alibaba (ranked 7th), Tencent (ranked 8th), China Mobile (ranked 27th), ICBC (ranked 29th), Moutai (ranked 35th), Ping An (ranked 40th), Huawei (ranked 47th), China Construction Bank (ranked 59th), Baidu (ranked 63rd), JD.com (ranked 66th), Didi (ranked 71st), Xiaomi (ranked 74th), Meituan (ranked 78th), China Agricultural Bank (ranked 82nd) and Haier (ranked 89th). The list also reflects that Ping An's ratings in terms of brand objectives, innovation, communication, brand experience and brand preference have outperformed the average scores of its peers in the insurance sector. Technological advancement is of the utmost importance to Ping An, with the Company employing 99,000 IT and 29,000 R&D specialists to focus on enhancing business experiences, and develop innovative products and services. Ping An's proprietary technology includes start-ups such as Ping An Good Doctor, OneConnect and Lufax, which have all achieved significant and rapid growth through providing a full range of products and services to customers. "We find that Asian consumers are more open to technology-driven initiatives. As such, more Asian brands are integrating their products and services into consumers' daily life through ecosystem models," said Dorren Wang, Global Head of BrandZ(TM). Ping An emphasized that the Company will continue to deepen its "Finance+Technology" and "Finance+Ecosystem" strategies by combining its advantages in technology, talent, capital, scenarios and data. It strives to enhance its intelligent operations as well as its products and service experiences to drive long-term and persistent business growth, and to maximize the value for its customers and shareholders. BrandZ(TM) Top 100 Most Valuable Global Brands is one of the world's most prestigious and large-scale brand valuation reports. The report shows that big data technology enables insurance companies to collect and analyze customer data to customize products and services relevant to customers' specific needs in different aspects. The brand valuation ranking adopts a unique research method in the industry to combine interview results of more than three million consumers worldwide with the analysis of financial and operating performance of various companies (according to the Kantar Consumer Index and Bloomberg's financial data) as well as the brand contribution index acquired through consumer research. - End – About Ping AnPing An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered personal financial services group. With 184 million retail customers and 538 million Internet users, Ping An is one of the largest financial services companies in the world. Ping An has two over-arching strategies 'pan financial assets' and 'pan healthcare', which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems in financial services, healthcare, auto services, real estate services and Smart City services. Our 'finance + technology' and 'finance + ecosystems' strategies aim to provide customers and internet users with innovative and simple products and services. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The company is listed on the stock exchanges in Hong Kong and Shanghai. Ping An ranked 7th in Forbes' 2019 Global 2000, and it ranked 29th in Fortune Magazine's 2018 Global 500 Leading Companies. Ping An also ranked 43rd in 2018 WPP Millward Brown's Brand(TM) Top 100 Most Valuable Global Brands. For more information, please visit www.pingan.cn For enquiries, please contact:Gareth Hewett @ +852 68822027 or email@example.com Related Links :http://www.pingan.cn
CerraCap Ventures secures strategic investment from IIFL Wealth
COSTA MESA, California, June 13, 2019 /PRNewswire/ -- CerraCap Ventures, a leading early stage technology venture capital firm, today announced a strategic investment of an undisclosed amount from a unit of IIFL Wealth Management Limited (IIFL Wealth), in CerraCap Ventures Fund II. Headquartered in Orange County, CA, CerraCap Ventures focuses on areas of Cyber Security, AI and Digital Health. Leveraging a unique "Sales and Scale" business model, CerraCap goes beyond providing just capital to early stage companies. They help startups sell into large enterprises through an ecosystem of decision makers and an influential advisory board consisting of global leaders. IIFL Wealth is one of the leading private wealth management firms in India with an AUM of around USD 24 billion. General Atlantic, a leading global growth equity firm, is among the large investors. The competitive positioning and growth prospects of IIFL Wealth have been endorsed by way of further investments from WF Asian Reconnaissance Fund (a fund managed by Ward Ferry), Rimco Mauritius, Amansa Holdings Pvt Ltd, Steadview and HDFC Standard Life Insurance. Saurabh Ranjan, Managing Partner CerraCap Ventures, said, "We are honored to have IIFL Wealth as part of our distinguished list of Limited Partners and look forward to a strategic relationship with them." This investment complements IIFL Wealth's strategy to connect to the world's promising startups. "We like the sharp focus of the CerraCap team on emerging technology areas. Our relationship with CerraCap Ventures will give us access to investment opportunities in the best technology businesses on a global front," said Karan Bhagat, MD & CEO of IIFL Wealth. "IIFL Wealth is excited to be working with CerraCap Ventures and we see strong validation of their unique business model from their portfolio companies," added Umang Papneja, Senior Managing Partner, IIFL Wealth. "Technology startups need a lot more than just capital and guidance, provided by most investment firms, to realize their complete potential. CerraCap has a diverse and highly experienced team of sales, technology and finance professionals with deep experience in technology, investment and growing startups into large organizations," said Vikas Datt, Managing Director and Partner at CerraCap Ventures. "We are proud to join forces with IIFL Wealth. This is the first step in what will be a long and strategic partnership." About IIFL Wealth IIFL Wealth is one of the leading wealth management companies in India. The company has catapulted itself to become one of the largest private wealth management firms in India in less than a decade. Today, it is the investment and financial advisor to more than 13,000 influential families in the High Net Worth Individuals (HNI) and Ultra HNI segments in India and abroad, with aggregate assets of around USD 24 billion under management, advice and distribution. Headquartered in Mumbai, IIFL Wealth has more than 1000 employees and a presence in 7 major global financial hubs and 26 locations including India and around the world. About CerraCap CerraCap Ventures is a Global fund headquartered in California and dedicated to early stage technology investments. We focus on Enterprise (B2B) products and solutions in the emerging technology areas of Healthcare, AI and Cyber Security. Through its unique Sales and Scale model, CerraCap actively supports portfolio in taking great ideas to commercial success. Contact: Nikki Arora firstname.lastname@example.org Related Links :https://www.cerracap.com/
PeopleFund Sets Eyes on Global Expansion with Announcement of Securing Korea's First Foreign Funding for a Marketplace Lender
SEOUL, South Korea, June 13, 2019 /PRNewswire/ -- PeopleFund, a leading Korean marketplace lender, announced today that it has secured US$35M as an extension to its Series B financing round, led by Lending Ark Asia Secured Private Debt Fund ("Lending Ark"), a secured private credit strategy of CLSA Capital Partners, headquartered in Hong Kong. New and existing investors including Shinhan Invest Corp. and D3 Jubilee also participated. The funding will help PeopleFund to pursue international expansion as part of its strategic plans. The investment by Lending Ark, composed of secured debt and equity financing, confirms PeopleFund as the leading marketplace lender in Korea. PeopleFund is the first, and currently the only, marketplace lender in Korea to receive foreign funding, signaling investor confidence in the company and the Korean market, where the government has designated Fintech growth as a top priority on the nation's economic agenda. Lending Ark's equity financing extends the US$11M Series B round funding announced in October 2018, led by Kakaopay corp., bringing the total equity raised to date to approximately US$21M. The US$30M debt financing will allow PeopleFund to scale up its lending business. Lending Ark has taken a minority equity stake in PeopleFund with Carol Lee Park, Managing Director of Lending Ark, joining the board of the Company. PeopleFund is uniquely positioned as the first and only player in Korea to fully integrate with a top-tier commercial bank to process consumer loans securely within the national financial system. Leveraging a tier one bank as an origination vehicle is a business model widely used in international markets such as the U.S. and U.K. and is a key attribute that has attracted foreign capital. "Lending Ark is proud to support the tremendous growth of PeopleFund," said Carol Lee Park, Managing Director of Lending Ark. "As a debt investor and an equity shareholder, Lending Ark is looking forward to working with PeopleFund as a strategic partner to help the company achieve long term growth and success." In conjunction with this fundraising, PeopleFund has appointed three new advisors to provide strategic counsel for its plans to grow the company beyond Korea. John Chang, formerly a Managing Director at Barclays Investment Bank and Deutsche Bank. Currently he is a General Partner at Access Ventures LLC. Gregory Park, formerly the Fund Head of Carlyle Asia Structured Credit Opportunities Fund at The Carlyle Group. Currently he is the Managing Director and Fund Head of Lending Ark at CLSA Capital Partners. Sam Rhee, formerly CEO & CIO of Morgan Stanley Investment Management Asia. Currently he is the CEO of Voveo Capital, a fintech focused investment company, as well as, the founding partner & CIO of Endowus, a WealthTech company based in Singapore. "PeopleFund welcomes our new advisors as we look towards global opportunities in order to accelerate and expand our business," said Joey Kim, Founder of PeopleFund. "These new appointments and the overseas capital coming into our platform from a prestigious global institution are a validation of our company and the quality of our loans." PeopleFund has demonstrated an impressive growth track record and is the fastest growing marketplace lender in Korea in terms of loan volume. It has also been recording the highest monthly loan volume for personal consumer loans with a 150% growth rate consistently each month. In addition, PeopleFund announced a strategic partnership with Kakaopay corp. in 2018, making it the first marketplace lender to offer investment products directly on the popular messaging app. About PeopleFundPeopleFund is Korea's fastest growing marketplace lender that is opening doors to more financial freedom through affordable loans and attractive alternative investment opportunities. It is the first and only Korean marketplace lending platform to fully integrate with a top-tier commercial bank to process personal and business loans securely within the national financial system. It was also the first marketplace lender to form a strategic partnership with Kakaopay corp. to offer investment products directly on KakaoTalk. PeopleFund has been transforming the Korean financial system with its automated proprietary credit model which can determine optimal rates within a minute and with greater accuracy. The tech-driven platform has the advantages of better predictive capabilities to evaluate borrowers and provide loans to more near-prime borrowers who are capable of repaying, but may not be adequately serviced by traditional commercial banks or lenders. The CEO and Founder of PeopleFund, Joey Kim, is also currently serving as the President of the Korean Fintech Industry Association. Visit http://www.peoplefund.co.kr and follow @People.Fund to learn more.Related Links :http://www.peoplefund.co.kr
Fang and China Index Announce Completion of Separation by Way of Distribution
BEIJING, June 13, 2019 /PRNewswire/ -- Fang Holdings Limited (NYSE: SFUN) ("Fang"), a leading real estate Internet portal in China, and China Index Holdings Limited (NASDAQ: CIH) ("CIH"), the largest real estate information and analytics service platform provider in China*, today announced that on June 11, 2019, they completed the separation of CIH from Fang to form two independent, publicly traded companies with differing business objectives and opportunities, via a dividend distribution of all the CIH's ordinary shares owned by Fang to Fang's equity holders. ______ * in terms of geographical coverage and volume of data points as of December 31, 2018, according to an industry report commissioned by CIH and prepared by Frost & Sullivan in 2019. Following the separation and distribution, CIH will strategically focus on serving the commercial property sector in China to capture the enormous market opportunity from its rapid development, while Fang will retain its business operating a real estate Internet portal focusing primarily on serving the residential property sector. As part of the separation and distribution, CIH has appointed four new board members, Huang Yu, Jie Jiao, Robert Ciemniak, and Jeff Xuesong Leng, who have brought with them leadership and experience in capital markets and corporate operating roles. Mr. Vincent Tianquan Mo remains and will continue to serve as chairman of both the board of CIH and the board of Fang. About Fang Fang operates a leading real estate Internet portal in China in terms of the number of page views and visitors to its websites. Through its websites, Fang provides primarily marketing, listing, financial and value-added services for China's fast-growing real estate and home furnishing and improvement sectors. Its user-friendly websites support active online communities and networks of users seeking information on, and other value-added services for, the real estate and home furnishing and improvement sectors in China. Fang currently maintains approximately 65 offices to focus on local market needs and its website and database contains real estate related content covering 658 cities in China. For more information about Fang, please visit http://ir.fang.com. About CIH CIH operates the largest real estate information and analytics service platform in China.* Its services span across database, analytics, promotions and listing services for China's real estate markets. CIH serves a substantial base of real estate participants in China, including industry professionals and business communities, with an authoritative, comprehensive and seasonable collection of real estate data, complemented by a variety of powerful analytical and marketing tools. For more information about CIH, please visit www.chinaindexholdings.com. ______ * in terms of geographical coverage and volume of data points as of December 31, 2018, according to an industry report commissioned by CIH and prepared by Frost & Sullivan in 2019. Safe Harbor Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "is expected to," "anticipates," "aim," "future," "intends," "plans," "believes," "are likely to," "estimates," "may," "should" and similar expressions, and include, without limitation, statements regarding the completion of the separation and distribution. Such statements are based upon management's current expectations and current market and other conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Fang's or CIH's control, which may cause the completion of the separation and distribution and the operations of Fang and CIH to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, without limitation, the market and other conditions and Fang's and CIH's results of operations. Further information regarding these and other risks, uncertainties or factors is included in Fang's filings or CIH's filings with the Securities and Exchange Commission. Neither Fang nor CIH undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. View original content:http://www.prnewswire.com/news-releases/fang-and-china-index-announce-completion-of-separation-by-way-of-distribution-300866863.html
CEOs Rewrite the Rulebook in Pursuit of Growth
Two-thirds of CEOs say that agility is the new currency of business and that if they don't adapt, their business will become irrelevant LONDON, June 13, 2019 /PRNewswire/ -- CEOs are faced with a stark choice. In the face of unparalleled environmental, economic and technological change, they are looking to grow their businesses by creating the organizational agility to disrupt existing business models and challenge long-held market orthodoxies. According to the fifth KPMG International Global CEO Outlook, just over half of CEOs are confident they will succeed but are realistic, with 53 percent projecting cautious three-year growth of up to 2 percent (down from 55 percent in 2018). As with 2018, they are also maintaining a positive three-year growth outlook for the global economy, although this has slightly fallen from 67 to 62 percent over the last 12 months. This confidence is also shown by their commitment to hire, with 36 percent of CEOs projecting to add more than six percent to their workforce in the next three years. "A successful CEO now needs to be an agile CEO," said Bill Thomas, Global Chairman, KPMG International. "Succeeding in a world of volatility and uncertainty requires different leadership skills, particularly in large, multi-national organizations. It's no longer a question of simply defending your position and using scale to maintain competitive advantage. Today, CEOs need to be comfortable disrupting their business models by forging new strategic partnerships, considering alternate M&A strategies and increasing the skills of their workforces." Climate change driving a multi-risk operating environmentCEOs named climate change the biggest risk to their organization's growth, the first time in five years it was rated a top concern compared to technological, territorial, cyber and operational risks. But with only a small margin between each of them, it paints a picture of a complex and ever shifting risk landscape. The innovation disconnectA majority of CEOs (84 percent) believe a 'fail-fast' culture is required in today's marketplace, in which lessons from failures are learned quickly, yet only 56 percent say that kind of culture is in place in their organization. Eight out of ten CEOs (84 percent) are looking to change the makeup of their leadership teams to disrupt the status quo. Cyber security to innovation Cyber continues to be high on the CEO agenda, despite falling from the second highest risk last year to fourth this year. In 2019, a larger group of CEOs (69 percent vs 55 percent in 2018) say a robust cyber security strategy is critical to driving trust with key stakeholders and most (71 percent) view information security as a key factor in their broader innovation strategy. Acquiring expertise through M&AFor many CEOs, M&A presents the best opportunity to upgrade digital capabilities with pace. A proactive M&A strategy is on the agenda for 84 percent of CEOs who have a moderate or high M&A appetite for the next three years. Driving this appetite is the ability of M&A to transform a business model faster than organic growth. Capital investmentWhen asked to prioritize between buying new technology or developing their workforce to improve their organization's resilience, CEOs favored technology two to one (68 vs 32 percent). AI experts take noteArtificial intelligence (AI) is on the minds of CEOs, yet only 16 percent have implemented AI and automation programs. A further 31 percent are still at the pilot stage, while 53 percent admit to undertaking a limited AI implementation. Yet 65 percent of CEOs believe the inclusion of AI and automation will create more jobs than it eliminates. Continues Thomas, "All together, this year's survey is telling us that we've entered a new era of leadership. Agility comes from balancing a CEO's instinct with having confidence in what the data is telling you. Strategic decisions require data that has bias removed. It's no longer enough to seek "big" data, instead CEOs must use technology to uncover quality data. Only through this will they create the organizational resilience to drive growth." To view additional information about the study please visit www.kpmg.com/CEOoutlook. You can also follow the conversation @KPMG on Twitter and Instagram using #CEOoutlook. Notes to Editors: About KPMG's CEO OutlookNow in its fifth year, the KPMG CEO Outlook provides an in-depth three-year outlook from thousands of global executives on enterprise and economic growth. Each year the report builds upon answers from previous surveys to help ensure a consistent year-over-year view of the global economy. It also includes new and changing questions to capture CEOs' outlook on trending topics in the market. The 2019 survey covers 1,300 CEOs in 11 key markets (Australia, China, France, Germany, India, Italy, Japan, Netherlands, Spain, UK and US) and 11 key industry sectors (asset management, automotive, banking, consumer and retail, energy, infrastructure, insurance, life sciences, manufacturing, technology, and telecommunications). A third of the companies surveyed have more than US$10B in annual revenue, with no responses from companies under US$500M. The survey was conducted between 8 January and 20 February 2019. NOTE: some figures may not add up to 100 percent due to rounding. About KPMG InternationalKPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 153 countries and have 207,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. For press requests, please contact: Amy Greenshields, KPMG International, +1-416-777-8749, email@example.com Related Links :http://www.kpmg.com
World Trade Centers Association Report Highlights City-Resiliency Strategies, Indicates that Trade and Investment Damage May be More Extensive than Pr
Original data analysis and in-depth-interviews reveal the perils facing global growth prospects, underlying opportunities and practitioners' views on how to navigate both NEW YORK, June 12, 2019 /PRNewswire/ -- Today The World Trade Centers Association (WTCA) unveiled its second annual Trade and Investment Report (www.WTCAReports.org), conducted in partnership with FP Analytics. The report details the key factors that enable cities to remain resilient as dramatic shifts in trade-and-investment policies intensify economic competition. Moreover, on-the-ground insights from interviews with WTCA members around the world reveal that the damage being caused to global trade and investment may be worse than is currently captured by traditional indicators. Global trade grew 3 percent in 2018, but tariffs and other causes of uncertainty have already led the World Trade Organization to reduce its growth forecasts for 2019 from 3.7 percent to 2.6 percent. The reality could be worse if trade and investment are being artificially buoyed by companies trying to get ahead of impending tariffs or navigate around other barriers. WTCA members reported a surge in trade over the past year as businesses sought to lock in costs before Brexit, and before the trade tensions between the United States and China escalate further. "Economic uncertainty has created a 'new normal' which businesses and organizations are being forced to confront," said FP Analytics Managing Director Claire Casey. "This year's report illuminates the underlying causes driving this economic upheaval as well as provides successful strategies to combat this new instability." How can cities survive fluctuations in the global economy and foster growth? Analysis of city-level economic data from the past five years found that cities that outperform their countries during economic downturns have a consistent set of traits. Regardless of their location or size, these cities all have relatively diversified economies, strong service sectors, educated populations, high shares of foreign citizens, and robust transport infrastructure. And they have defied the odds by attracting investment under adverse circumstances: Their FDI as a percentage of GDP was twice as high on average as that of nonresilient cities. "The 2019 WTCA Trade and Investment Report shows that cities and businesses are being forced to consider new investment strategies and trade opportunities in a time where the global economy is in a state of near-constant flux," said WTCA Chief Executive Officer (CEO) Scott Ferguson. "However, cities are well positioned to act as centers of economic stability and growth during shifting policy changes and uncertain global economic circumstances." The report was launched in Metz, France, alongside a panel discussion of its findings. WTCA CEO Scott Ferguson; Rolf Alter, Senior Fellow at the Hertie School of Governance in Berlin, and former Director of Public Governance at the Organisation for Economic Cooperation and Development; Rani Dabrai, Director of World Trade Center Dublin; and Bruce Nairne of Nairne Limited, a private-sector consultancy, shared their perspectives on the report and the challenges and opportunities for business in the current environment. "Cities are where policies and people meet," remarked Alter. He continued, "We are living in the Metropolitan century, and this report is rich with examples of what works to ensure a city's resiliency in what is certainly a time of fundamental change. The practitioner's point-of-view detailed by WTCA members here is insightful and important." The results of the full report, including commentary from WTCA Members, are available for download at www.WTCAReports.org. MEDIA CONTACTS:Eliot Marcus Phone: +1.617.401.2277Email: WTCA@allisonpr.com About the WTCA 2019 Trade and Investment ReportThis study, conducted in partnership with FP Analytics and the World Trade Centers Association (WTCA), is a product of original city-level data analysis, as well as polling and interviews with WTCA members around the world. Cities with a WTCA member constitute more than 35% of global GDP and are home to nearly 1.24 billion people. Capturing insights from this unique global network of World Trade Centers in more than 325 cities, this analysis seeks to shed light on how global economic trends are shaping trade and investment at the local level, and the innovative ways cities and World Trade Centers are navigating this "new normal," building global connections to drive local growth. About World Trade Centers Association The World Trade Centers Association (WTCA) is a network of more than 325 highly connected, mutually supporting businesses and organizations in nearly 100 countries. As the owner of the "World Trade Center" and "WTC" trademarks, the WTCA licenses exclusive rights to these brands for Members to use in conjunction with their independently-owned, iconic properties, facilities and trade services offerings. Through a robust portfolio of events, programming and resources that it offers its Members, the goal of the WTCA is to help local economies thrive by encouraging and facilitating trade and investment across the globe through Member engagement. To learn more visit www.wtca.org.
Fintech Achiko Limited Plans for a Direct Listing on the SIX Exchange
JAKARTA, Indonesia and ZURICH, June 12, 2019 /PRNewswire/ -- Achiko Limited, a leading fintech provider in Indonesia, announced today that it plans to submit an application for a direct listing on the SIX Swiss Exchange, Switzerland's principal stock exchange. Achiko's primary business is Mimopay. Founded in 2012, Mimopay has grown quickly to become a leading provider of payment services in Indonesia for people who do not have a bank account or credit card. People can pay for digital gaming content and services via a range of payment channels, such as telecom billing, game vouchers, and at over 10,000 convenience stores and over 100,000 ATMs. "We're excited about the future and the opportunities that financial and digital inclusion can bring to the 1.7 billion unbanked adults around the world," said Allen Wu, Chairman of Achiko. "We're inspired by the success of platforms such as WeChat and Kakao, that combine payments with a wide-range of services, and believe that model provides a roadmap for our own global ambitions. We've started with Indonesia and we're expanding our system's digital and physical footprints by accelerating partnerships and diversifying revenue beyond payments." The Company includes an experienced management team which has worked on and delivered multi-billion US dollar projects at globally-recognized digital businesses for companies such as Disney, Time-Warner, today named WarnerMedia, Samsung, Kakao and Leon Entertainment. With backing from MNC Corporation, Indonesia's largest media group, and MOX, the Mobile Only Accelerator of SOSV the first accelerator group in Asia, Achiko is redefining mobile based social commerce in one of the world's most vibrant consumer markets. Building on Mimopay's 2 million end-user customers in Indonesia, Achiko intends to expand its payments platform through strategic partnerships in Myanmar, The Philippines and Vietnam, in the next 18 months. "There are many developing countries across the world like Indonesia that have high mobile penetration, yet a large population of unbanked who cannot pay for online services through traditional payment channels," said Kenneth Ting, the CEO of Achiko. "These markets represent tremendous growth opportunities for us.'' The company plans to list 100 million shares. Achiko's last round of financing was at a USD $0.70 per share. About Achiko Limited The Holding Company was established in 2018, and includes Mimopay (2012), Kryptonite (2014), a licensee for the popular Yabb Messenger. The Company has operations in Indonesia, Korea and Taiwan, and is backed by MNC Corporation, the largest media company in Indonesia, and MOX, the Mobile Only Accelerator of SOSV -- the first mobile-focused accelerator in Asia. For more information please visit: www.achiko.co Logo - https://photos.prnasia.com/prnh/20190612/2494259-1LOGORelated Links :http://www.achiko.co
New World Facilities Management Company Limited Receives Hong Kong General Chamber of Small and Medium Business Ltd.'s Best SME's Partner Aw
HONG KONG, June 12, 2019 /PRNewswire/ -- New World Facilities Management Company Limited (NWFM) has received the Hong Kong General Chamber of Small and Medium Business Ltd.'s "Best SME's Partner Award 2019", in recognition of NWFM's successful support of, cooperation with, and contribution to SMEs. NWFM strives to provide excellent facility management and operating services for Youth Square. Besides its role as a provider of multipurpose spaces and ideal activity spaces for youths, Youth Square also offers the rental of a variety of venues, shops, and offices for commercial institutions, youth groups, non-profit organizations, and charity organizations, making it easier for them to host beneficial youth development programs. The rental and service fees of Youth Square conform to the economic principle and their multipurpose facilities are able to meet the diverse needs of all SMEs. The company will continue to increase its operational efficiency to facilitate e-commerce businesses. To enhance user experience on Youth Square's multipurpose areas, the company will be installing AI robots, through QR code scanning and verification, IoT (Internet of Things) technology, and smart lockers to smoothen the room check-in process for customers. Besides, the company also intends to provide a more comprehensive service to corporate tenants through the strategic introduction of smart locker services, including Hong Kong Post iPostal stations and SF Express smart lockers, which allow quicker and more effective self-collection of packages. Two General Managers from New World Facilities Management Company Limited, Ms. Josephine LAM (sixth from the right) and Mr. Eric LAM (fifth from the right) received the honour with the team. Best SME's Partner Award The award was established in 2006 by the Hong Kong General Chamber of Small and Medium Business to publicly commend partner companies that have given great support to SMEs. The purpose of the award is to preserve and improve the competitiveness of local SMEs and encourage the industry to continue supporting their business and development. The panel of judges grade partners based on the following five aspects: How valuable to SMEs is the product or service offered by the company, what concrete contributions has the company made towards SME development, the effect on internal corporate culture of valuing SME clients, how the company fared in providing suitable products and services to SMEs, and how successfully they promoted harmonious and mutually understanding relationships with SME clients. To continue promoting SME development, the Chamber has also established a "Best SME Award" and "Bright Future SME's Youth Creative Entrepreneurship Award". New World Facilities Management Company Limited New World Facilities Management Company Limited is a non-profit making company and a wholly-owned subsidiary of New World Group (HK Stock Code: 00017). Embracing the mission of youth development and supporting youth to contribute to society, we strive to develop Youth Square as the platform for youth to exchange knowledge and experience and to develop and discover their potential. Youth Square The Youth Square, which came into full operation in 2010, is a youth development project of the Home Affairs Bureau of the HKSAR Government, with an aim to be the hub of diversified youth development activities for youth to develop their potential. Youth Square facilities include the 643-seat Y Theatre, Y Studio, multi-function areas and the Y Loft which has 148 guest rooms. Youth Square has been conducting over 180 themed events under "Music & Dance", "Arts & Culture" and "Community Engagement". Youth Square has been holding over 9,700 youth events and served for more than 1.8 million participants since 2010. In addition, with participants came from more than 80 countries or regions, Y Loft has been providing accommodations for more than 260,000 youths who participated in various exchange programmes in Hong Kong. Youth Square is located in Chai Wan and is managed and operated by New World Facilities Management Company Limited on a non-profit making basis. 6G model is Youth Square's guiding principle. 6G refers to Groom, Grow, Glow, Green, Global Vision and Give Back. Official web site: http://www.youthsquare.hk. Photo - https://photos.prnasia.com/prnh/20190612/2494268-1
Axis Aha! surges with over 10 million Conversational Engagement
BANGALORE, India, June 12, 2019 /PRNewswire/ -- Axis Bank in partnership with Active.Ai, launched Axis Aha! in early 2018, has seen a surge in usage of its conversational AI platform on their mobile banking app which has over 10 million customers. "We are seeing good uptake, as we keep adding new use cases to Axis Aha!. When we launched the chatbot, we were very clear that we would use it beyond just query handling. Customers are not interested in plain responses, they actually want it to be actioned. We researched and found that fund transfers, blocking cards and paying bills though seemingly easy were high-anxiety tasks for many customers and hence, useful cases to add to a chatbot. Consequently, we are now finding a measured but solid month-on-month growth in its adoption and usage," said Praveen Bhatt, EVP & Head Retail Liability and Direct Banking Products. As Indian consumers are doing lot more on their mobile phones, the need for easy interactive human-like conversations to make their life simpler has surged. Simple FAQ chatbots are insufficient as consumers want contextual engagement with ability to assist and allow them to make qualified choices. Axis Aha!, a virtual banking assistant, brings the power of artificial intelligence and machine learning to help customers with contextual conversations, do transactions and answer their banking related queries. Consumers can accomplish all these by simply speaking to Axis Aha! and it will do the rest: "What's my Account balance?" "Order a cheque book" "I want to pay my credit card bill" "Transfer 5000 to Mom" "I have lost my wallet. What to do?" "Increase my debit card limits" "Recharge my mobile" "Did my salary get credited?" "AI is an extremely powerful tool that can help in enhancing customer experience and relationship. It has the potential to revolutionize the way we deal with customers in the banking sector. Chatbots help in saving time, human efforts and providing accurate, personalized services. They also help in data analysis, fraud detection and data capture. Given all these positives, we had launched 'Axis Aha!' to accentuate our service capabilities and are now finding a steady increase in engagements as new user cases keep getting added," Avinash Raghavendra, Executive Vice President & Head - Information Technology of Axis Bank. Powered by Active.Ai's cutting edge AI engine, TRINITI, institutions can now dialogue digitally with their consumers, understand their intent, be contextually aware, handle multiple instructions in a single string and handle acronyms or slang in a delightful manner. Over ten leading institutions across the world handle millions of interactions across simple and complex banking conversations on TRINITI today with a very high accuracy rate. With valuable feedback from clients, Active.Ai has made this platform immensely scalable and quick to deploy. They believe this revolutionary platform will make it accessible for every financial institution to embrace conversational AI and deliver a great service experience. "We are proud to partner with Axis Bank, an innovative leader in digital banking and their vision to empower millions of Indians with engaging and delightful banking experience. By making banking simple using voice and conversational text, Axis Bank customers can pretty much bank from anywhere in the world using web, app, messaging or smart speaker system," said Ravishankar, CEO of Active.Ai. About Active.Ai Active.Ai (Active Intelligence Pte Ltd), a Singapore Fintech start-up with innovation lab in Bengaluru, India, is building a conversational AI Platform from Singapore for the rest of world. Their core business of understanding unstructured data helps financial services design intelligent conversations. They focus on multiple financial services industry domains such as retail, corporate and private banking, virtual agents, capital markets, insurance, commerce and wealth management. Active.Ai employs 100+ people out of offices in Singapore, India, and the United States. For more details, visit www.active.ai or on twitter @activeaibotRelated Links :http://www.active.ai
The Carrot Patch transforms hotel and arcade bars into coworking spaces.
Happy hour at where you work? Now you can. Members can work from a network of bars-turned-coworking-spaces coupled with exclusive F&B perksSINGAPORE, June 12, 2019 /PRNewswire/ -- The Carrot Patch, a Singaporean coworking start-up, is the first in Singapore to bring this new concept of transforming hotel and arcade bars into coworking spaces. The Carrot Patch @ SKAI Bar and The Carrot Patch @ Level Up are the first two locations from their network that will serve members from June 2019. These bars are now being repurposed when they are usually closed during the day thanks to this new concept that turns otherwise closed bars into inspiring and fun workspaces. The Carrot Patch is helping to connect freelancers, entrepreneurs and remote workers alike with these bars (or even restaurants and cafes in the future), offering alternative workspace solutions for members. This is an ideal win-win arrangement: Members get a quiet working space, while bars get potential happy-hour customers. "We noticed that such beautiful and unique bars are not used during the day and that our members love to work from a laptop and have fun, so we thought, why don't we marry the two?" said The Carrot Patch's General Manager, Loo Kian Wai. Inside The Carrot Patch @ SKAI Bar, a coworking service that operates out of a hotel bar The Carrot Patch @ SKAI Bar, based right above City Hall MRT station, is located on the 70th level of Swissôtel The Stamford and, features breath-taking views of the Singapore skyline with remarkable ambience. "The Carrot Patch's belief in placing 'people-first' aligns perfectly with our values, where our guests are of top priority to us. We are incredibly excited to work with a like-minded partner like them. This is also a great opportunity to introduce SKAI Bar to members and to utilise the space during non-service-operational hours. Also, with Swissôtel The Stamford's prime location and excellent connectivity, coupled with the mesmerising views of the city skyline, SKAI Bar provides the perfect location to network and host events," said Emmanuel Benardos, General Manager of Food & Beverage -- Swissôtel The Stamford Inside The Carrot Patch @ Level Up, a coworking service that operates out of an arcade bar The Carrot Patch @ Level Up, is an arcade bar in Clarke Quay, featuring luxurious sofa seats suited for discussions as well as a myriad of arcade games from claw machines to dart machines. "We decided to partner with The Carrot Patch as we were looking for someone to utilize the place with the right idea and right concept to fit in with our theme. I personally feel that this new concept has a very promising future, as the underutilization of spaces in Singapore is quite apparent and there can be much better usage to what places like mine can offer to The Carrot Patch," said Mark Huang, founder of Level Up. The Carrot Patch is looking to expand to a network of collaborative workspaces, specially curated with unique features, as well as basic necessities such as comfortable seating, and proximity to public transportation. The company will soon seek to expand across the city, offering convenience and accessibility to members, riding the rising wave of coworking. Moving forward, anyone who works remotely from a computer can bid goodbye to the good old days where they need to fight for a seat in a crowded café, or waste time travelling back to the office after a meeting. "Apart from the flexibility we offer to our members with the network, the human touch is something we value highly," said Loo. The Carrot Patch members will be welcomed by their community ambassadors, who will be manning the spaces as hosts. The hosts serve as the members' friend and will try their best to provide assistance to the needs of their members. The Carrot Patch also aims to build a community that spans across the country so that individuals have opportunities to come together with like-minded professionals to network, through meetup sessions and community events. Stemming from The Carrot Patch's mission of caring about their members, they can also access to exclusive Food & Beverage perks offered by the bars through the partnership between the bars and The Carrot Patch. Partners, on the other hand, can generate more awareness for their business. The Carrot Patch members can work from their preferred location, network with like-minded professionals, happy hour at these bars -- stocked with bottomless coffee and tea in addition to the high-speed Wi-Fi, for a starting fee of S$20 for a day. In celebration of the launch, The Carrot Patch is offering their price plans at a special rate of S$158/month for 10 Passes and S$220/month for Unlimited Hot Desk. Exclusive for Media Complimentary Media 10 Passes to access both The Carrot Patch @ Level Up and The Carrot Patch @ SKAI Bar to work and play. For your Complimentary Media 10 Passes, please fill up this form: http://bit.ly/media10pass. Final issuance of Media Passes is subjected to The Carrot Patch's discretion. Please contact Kallis Chen (firstname.lastname@example.org) prior to your redemption. About The Carrot Patch The Carrot Patch (TCP) is a network of vibrant coworking spaces, designed for a community that values flexibility. As a bridge where connections are made, The Carrot Patch transforms underutilized spaces into inspiring and fun spaces for members to mingle and work. With our extensive network of spaces and supporting startup ecosystem, The Carrot Patch is the hotbed of success because, we care about what is good for our members. P.S. A recurring motif throughout the business, the Carrot is versatile, nutritious and signifies vibrancy, hope and wisdom -- important elements to making businesses work. Website: http://thecarrotpatch.co/ Facebook: https://www.facebook.com/TheCarrotPatchCo/ Instagram: https://www.instagram.com/thecarrotpatchco/ LinkedIn: https://www.linkedin.com/company/thecarrotpatchco/ The Carrot Patch's Partners About Level Up Level Up is Singapore's first ever arcade bar, that combines a wide array of retro arcade drinking games with live band entertainment from key local musicians, staying true to their motto of "Eat, Drink, Play". About SKAI Bar Bringing to the fore a chic contemporary grill set in a new lifestyle and social dining destination, SKAI is located on the 70th floor of the iconic Swissôtel The Stamford and is prepped to become the go-to sky-dining establishment in Singapore. Pairing unparalleled views of the cityscape with a curated selection of prime beef cuts and fresh seafood infused with delicate Japanese accents, Chef Paul Hallett's signature culinary style, philosophy and techniques are showcased in SKAI's contemporary and casually inviting setting. SKAI features the finest produce with a respectful tribute towards Japanese ingredients; the lunch set menu comprises grains and salads, main courses and delicious desserts, while the dinner menu brings a more refined selection of sharing plates and Ishiyaki. Chef Paul lends his extensive expertise in butchery to SKAI, sourcing and curing premium quality beef, cooked to perfection in SKAI's state-of-the-art Josper Charcoal Oven. The restaurant offers a thoughtful balance with an array of fresh fish and seafood, delivering a well-rounded dining experience to return to regularly. Winner of the Singapore Pastry Cup 2017, Chef Koo Jee brings her expertise to deliver a delicious range of desserts, as well as an exclusive afternoon pastry offering. Photo - https://photos.prnasia.com/prnh/20190611/2492932-1-aPhoto - https://photos.prnasia.com/prnh/20190611/2492932-1-bRelated Links :http://thecarrotpatch.co/
Zero Commission Brokerages -- How Do They Make Money?
NEW YORK, June 12, 2019 /PRNewswire/ -- Below is a public letter from Anthony Denier, CEO of Webull Financial. As I travel around the country speaking to users, trading clubs, partners and peers, without fail, the first question I get after I explain our trading platform is simply: "How do you make money?" I am writing this letter to answer this question once and for all with the hopes that people will instead start asking: "Why Webull?" This, after all, is much more fun to answer. Without further ado, let's finally lift the veil of secrecy that has shrouded the zero commission trading brokerages for so long, and show you why we are disrupting the traditional online brokerage model. Webull: Invest Smart. Trade Free. If you haven't yet heard of us, Webull Financial is a zero commission, zero fee, no minimums, self-directed US broker dealer. Like many of our peers, our platform is app-based and utilizes the latest tech in the retail trading space, creating a seamless and easy-to-navigate user experience. I want to be very clear with my 'unveiling' that I do not speak for all zero commission brokerages, as some may incorporate monthly fees to supplement their revenue models. Trade clearing, regulatory compliance, and system maintenance costs are extremely taxing on any brokerage, but Webull believes in the Internet model. We believe that our superior platform will attract so many users that the tiny amounts of revenue we do generate per account will add up to make our business model profitable. Webull's founders revolutionized mass scale retail during their time with Alibaba, the largest online retailer in the world, and strive to emulate this mass approach with the investing and trading world. Onto the unveiling… Get ready for the big secret…. We make money the same way every other broker makes money, but with one less revenue line item: commissions. Trade commissions account for a vast majority of a traditional broker's revenue stream. In some cases, commissions can make up 75% of the total revenue stream of a broker. Webull's commission revenue is zero! In order to keep the lights on, we optimize the back-end revenue streams that every other broker (traditional or non) utilize to generate revenue. Simply put, these are Payment for Order Flow, Stock Loan, interest on free credit balances, and margin interest. Traditional brokers can easily fall into the trap of finding ways to get their customers to trade more to boost trading commissions. Webull does not have this conflict of customer interests. Again, I want to be extremely clear and transparent. Every single stock broker in the United States generates revenue using these non-commission-based methods. Our stock price executions are the exact same as any traditional brokerage. How do I know? All US brokerages must follow the best execution principles mandated by regulators. If your order is filled at a price that is outside the NBBO, it is flagged and we make a best effort for price improvement. I have made it our mission to help de-mystify Wall Street. This is why on our Webull Financial homepage (www.webull.com) we have listed all the ways we try to make money on your trading activity that is executed on our platform. Of course, without commissions! I hope this letter helps shed some light on how zero commission brokerages operate, and I can now begin the conversation with: Why have you not yet tried Webull? Webull strives to give every user on our platform the most current technology for security, speed, and smart decision-making tools, all for free. Zero Commission. Zero Compromise. About Webull Financial: Webull Financial LLC is a broker dealer registered with the Securities and Exchange Commission (SEC), is a member of the Financial Industry Regulatory Authority (FINRA), and the Securities Investor Protection Corporation (SIPC). The headquarters of Webull Financial LLC is located at 44 Wall Street, New York, NY, USA. System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors. Risk Disclosure: Trading of stocks and all other investment products involves substantial risk of loss and it is not suitable for every investor. The value of stocks may fluctuate and as a result, clients may lose more than their original investment. Free trading of stocks refers to $0 commissions for Webull Financial LLC self-directed individual cash or margin brokerage accounts that trade U.S. listed securities via mobile devices or Web. Relevant SEC & FINRA fees may apply. Download the Webull stock trading app in the Apple App Store or Google Android Store, completely free. For more information visit Webull Financials' web page (www.webull.com) View original content to download multimedia:http://www.prnewswire.com/news-releases/zero-commission-brokerages----how-do-they-make-money-300865977.html
Libyan Sovereign Wealth Fund Case Set Aside
LONDON, June 12, 2019 /PRNewswire/ -- The UK Commercial Court yesterday dismissed the Libyan Investment Authority's claim against businessman Walid Giahmi, a defendant in the LIA's $US 200 million bribery case against JP Morgan. Mr Justice Bryan granted Mr Giahmi's application for the LIA's service of proceedings against him to be set aside saying, "The LIA's claims against Mr Giahmi... stand no real prospect of success..." Mr Giahmi welcomed the decision, saying, "This case should never have been started. Libya needs electricity, security, schools and medicine not money wasted on lawyers." In April, the Libyan Government disclosed that the LIA had spent over €500 million on legal fees in litigation against global banks and institutions and in infighting between various claimants for control of the LIA.