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/MoneyTech, Kuwait's premier fintech event, returns to Kuwait on Nov 12
KUWAIT CITY, Kuwait, Sept. 21, 2023 /PRNewswire/ -- Building on the momentum of last year's groundbreaking summit of technology, finance, and digital banking innovations /MoneyTech returns to Kuwait on November 12th. Registration is free on aljaridasummits.com. /MoneyTech, Kuwait’s premier fintech event, returns to Kuwait on Nov 12 Aljarida General Manager Mr. Bashar Alsayegh said "As we reflect on the success of our inaugural summit, which saw participation from over 200 professionals spanning fintech, banking, and telecom sectors, we are excited to host an even more enriching experience this year. Our agenda is crafted to address the most pressing topics, from digital banking innovations and A.I.'s impact on Kuwait's service sector, to the intricacies of Shari'ah compliant fintech solutions." This year, /MoneyTech promises a blend of innovation, collaboration, and groundbreaking discussions around the emerging trends in financial technology. Delegates can look forward to expert insights from Kuwait's leaders and disruptors of finance, banking, and fintech. The 2023 /MoneyTech Summit will host experienced voices from leading companies and feature the next generation of Kuwait's leaders in finance, banking, and fintech. A dedicated segment will feature pitches from budding entrepreneurs, showcasing revolutionary fintech solutions ranging from buy-now-pay-later options and Shari'ah compliant fintech, to mobile payment consolidation and open banking. Alsayegh said, "The future of fintech is being written here in Kuwait. With the expanding horizons of fintech in the country, the event is poised to attract a broader audience encompassing fintech enthusiasts, venture capitalists, tech professionals, and media outlets." A testament to the summit's credibility and reach, last year's event included a roster of notable sponsors. Key names included The National Bank of Kuwait, Kuwait Financial Centre (Markaz), Ooreedo Telecom, Kuwait Finance House, Tap Payments, Kamco Invest, among others. This year, the event is expected to draw even greater attention, appealing to a global audience of fintech enthusiasts, venture capitalists, tech industry professionals, and media outlets. For more information, registration details, or sponsorship opportunities for the /MoneyTech Summit 2023, please visit aljaridasummits.com. About Aljarida Summits: Organized by Aljarida News, the premier news source in Kuwait, Aljarida Summits are curated platforms for thought leadership, industry insights, and pioneering discussions. Their events consistently draw a diverse group of attendees, from local enthusiasts to international experts.
Eddid Financial Unveils Innovative AI Financial News Program: Staying Ahead of Market Trends Made Easy
HONG KONG, Sept. 21, 2023 /PRNewswire/ -- Eddid Financial announces the launch of a brand-new AI financial news program titled" What's Hot in Hong Kong Stocks Market?". Hosted by AI anchors, the program delivers key news and analysis of the Hong Kong stock market to investors. The program has officially started broadcasting on the group's YouTube channel "Eddid Financial", airing every trading day to keep investors up-to-date with the dynamics of the Hong Kong stock market. Each episode of the program spans approximately 3 minutes, during which the AI anchor selects and deciphers crucial market information, empowering viewers to promptly identify the latest market trends and make informed investment decisions. The program leverages AI technology to generate a lifelike anchor avatar, shattering the constraints of traditional financial programs and introducing a novel AI experience to the investing community. Eddid Financial has always been at the forefront of the industry with groundbreaking technology. The launch of the new AI financial news program delivers indispensable information to clients and investors in an ever evolving financial market, creating greater value.
RHB SINGAPORE CELEBRATES A BIGGER AND BETTER JURONG EAST BRANCH WITH NETWORK-WIDE 3.68% PER ANNUM FIXED DEPOSIT RATE
SINGAPORE, Sept. 21, 2023 /PRNewswire/ -- RHB Singapore offers one of the highest 12-month fixed deposit interest rates in the market at 3.68% per annum (p.a.) in celebration of the opening of its bigger and better Jurong East Branch. Customers are also entitled to an exclusive Wealth - Fixed Deposit bundle promotion rate at 4.00% p.a. for a 6-month fixed deposit if they purchase any eligible wealth products at the Jurong East Branch. "The reopening of RHB Jurong East Branch marks the completion of our 2-year branch relocation and transformation exercise, which saw our branches refreshed in a contemporary shophouse heritage design and digitally enabled. Celebrating network-wide, we are now offering 6 and 12-month fixed deposit rates of up to 3.68% p.a. for a minimum placement of S$20,000 at all RHB branches and on our RHB Mobile SG app," said Coreen Kwan, Head of Retail Banking at RHB Singapore. The branch at Jurong East features a bigger space than before and accommodates a dedicated Premier Centre for wealth management, serving Premier and Personal Banking as well as Business Banking clients. "We moved the previous Jurong East branch a few doors away within the same vicinity as we recognised the need for larger premises to meet the growing needs of our strong client base in the West. The modern heritage design we have chosen for our relocated branch aims to convey our commitment to elevating the RHB banking experience to better serve our clients, while remaining true to what our clients know us best for – customer service excellence," added Ms Kwan. RHB Singapore embarked on a strategic transformation of its retail banking business in 2020, focusing on a branch network refresh, revamped business operating model and digitalisation. The branch network refresh aims to relocate branches away from past areas of commercial activity to current regional hubs and business centres to serve the bank's existing client base as well as reach out to new clients within the vicinity. Its uniquely themed concepts, which reference the surroundings of each branch location, help establish a personal connection with its clients. Besides the newly opened Jurong East Branch, RHB Singapore also refurbished its Headquarters at Cecil Branch and Premier Centre in the Central Business District earlier this year, which followed the launch of RHB Singapore's Parkway Branch in 2022 to serve consumer and business clients in the East. This was preceded by the opening of RHB Singapore's regional wealth hub in Orchard in end 2021. The Orchard Premier Centre opposite Emerald Hill serves both local and regional clients. The ongoing promotions are listed below: Fixed Deposit promotion (available at all RHB Singapore branches and RHB SG Mobile app) Tenor Personal Banking(p.a.) Premier Banking (p.a.) Minimum Placement 3-month 3.00 % 3.10 % S$20,000 6-month 3.60 % 3.68 % S$20,000 12-month 3.60 % 3.68 % S$20,000 This promotion is valid from 19 September 2023 and shall end on a date to be determined by RHB at its absolute discretion. Promotional rates are subject to change without prior notice. Full Terms and Conditions apply. For more information, please fill in the "contact me" form online and our relationship manager will get in touch with you. Alternatively, you can head down to our branch or call our 24-hour Contact Centre at 1800 323 0100. Wealth Fixed Deposit bundle promotion (exclusive to Jurong East Branch) For purchase of any eligible wealth product, enjoy 4% p.a. on your 6-month SGD fixed deposit. Eligible Wealth Product(s) Wealth FD Bundle Promo Rates Minimum FD Placement 1. Regular premium insurance plan2. Single premium insurance plan3. Bonds4. Structured Products5. Unit Trust with minimum subscription amount of S$50,000 6-month SGD Fixed Deposit@ 4.00% p.a. S$20,000(capped at S$1mil) This promotion is valid from 28 August 2023 to 30 September 2023 or at such earlier date as RHB may determine at its discretion. The RHB Jurong East Wealth - FD Bundle Campaign is open to all new and existing customers who purchase wealth products at Jurong East Branch during the Campaign period. Promotional rates are subject to change without prior notice. Full Terms and Conditions apply. For more information, please fill in the "contact me" form online and our relationship manager will get in touch with you. Alternatively, you can head down to our branch or call our 24-hour Contact Centre at 1800 323 0100. For more information on the promotions, please visit our website at https://www.rhbgroup.com.sg/rhb/personal/promotions/jurongopening Issued on behalf of RHB Singapore by the Brand Marketing and Communications department. For more information, please contact Jovita Chua or Luke Diep at Jovita.email@example.com / Luke.firstname.lastname@example.org About RHB Singapore RHB Singapore was first established in 1961 through a series of rapid expansion and strategic mergers. For more than half a century in Singapore, RHB has garnered invaluable financial experience and transferred those insights of service excellence on to clients, helping individuals and corporations fulfil their financial goals. RHB Singapore's core businesses are streamlined into five pillars, namely Retail Banking, Commercial Banking, Corporate and Investment Banking, Treasury and Asset Management. RHB Banking Group aspires to deliver superior customer experience and shareholder value; and to be recognised as a Leading Multinational Financial Services Group. Find out more about RHB Singapore at www.rhbgroup.com.sg The modern heritage design that RHB Singapore have chosen for its relocated branch aims to convey its commitment to elevating the RHB banking experience to better serve its clients, while remaining true to what their clients know them best for – customer service excellence. The reopened branch at Jurong East features a bigger space than before and accommodates a dedicated Premier Centre for wealth management, serving Premier and Personal Banking as well as Business Banking clients. RHB Singapore Senior Management team celebrates the reopening of the RHB Jurong East branch with a ribbon-cutting ceremony, which marks the completion of a 2-year branch relocation and transformation exercise for RHB Singapore. In celebration of the opening of its bigger and better Jurong East Branch, RHB Singapore offers one of the highest 12-month fixed deposit interest rates in the market at 3.68% per annum.
BRI Opportunities for Overseas Chinese Businesses
An interview with Dr. Derek Goh Bak Heng, President of Teochew Poit Ip Huay Kuan BEIJING, Sept. 21, 2023 /PRNewswire/ -- A news report from China Report ASEAN: This year marks the 10th anniversary of the Belt and Road Initiative (BRI). Countries along the route have been responding enthusiastically to the BRI since it was proposed by China, and many overseas Chinese people have acted as bridges for cooperation. The Teochew people or Chaoshan people, native to the historical Chaoshan region in south China's Guangdong Province, represent around 20 percent of the entire Chinese population in Singapore. Established in Singapore in 1929, Teochew Poit Ip Huay Kuan (TPIHK, meaning Chaoshan eight districts association) has a membership of more than 6,000 Singaporeans who have traced their origins to the eight Chaoshan districts including Chao'an, Jieyang, Chenghai, Chaoyang, Puning, Huilai, Raoping, and Nan'ao. TPIHK is committed to promoting Teochew culture through charitable, economic, and educational activities and has played an important role in expanding friendly exchanges between China and Singapore. Dato' Seri Dr. Derek Goh Bak Heng , whose ancestral home is in Chao'an, China, is the TPIHK President and is also the Group Chief Executive Officer of the Singapore-based Serial System Ltd. Founded by Dr. Goh in 1988, Serial System is a leading electronic components distributor with operations spanning across Asia including China's Shenzhen, Hong Kong and Taiwan. Dr. Goh has received numerous accolades in recognition of his achievements and contributions including the Singapore Youth Award, UN Asia Pacific Most Prominent Entrepreneur, and Asia Top Outstanding Business Leader Award. In 2015, he was conferred the Chinese Who's Who and the Distinguished Chinese Award. How have the Teochew people in Singapore preserved and promoted their culture? What are the differences between generations on understanding Teochew culture? What role has the BRI played in the business operations of overseas Teochews? As the BRI celebrates its 10th anniversary, China Report ASEAN sat down with Dr. Goh, seeking answers to these questions. As a Teochew entrepreneur, how do you observe your cultural traditions in everyday life? How do you understand Teochew culture? Dr. Goh: I belong to the third generation of Chinese immigrants to Singapore, so my son is the fourth generation, but we have preserved our customs and traditions. For example, we carry a bag of mandarin oranges and visit our relatives and friends to offer Chinese New Year greetings. Those who are married give hongbaos(red envelops) to elders and children. This is how we observe long-standing traditions of the Chinese. I believe that emphasis on education, respect for the elders and working hard for prosperity are the core of the Teochew culture. That's why many Teochew businessmen in Singapore are active in charitable activities, e.g. presenting scholarships and building hospitals. Teochew culture is an important part of Lingnan culture. Traditional Chinese culture has been well preserved in the Chaoshan region, thanks to very few historical wars in the area. The Teochew Building, built by Teochews in Singapore, has distinctive Teochew architectural style and it houses cultural exhibits. Various cultural activities are often organized by TPIHK to promote traditional Chinese culture, raise awareness of Teochew culture, and provide a platform for cultural exchange and business cooperation between the Teochew and other Chinese communities in Singapore. What role has TPIHK played in fostering exchanges between Chinese and Singaporean business communities? Dr. Goh: Since its establishment 94 years ago, TPIHK has maintained constant contact with the Chinese mainland. We collaborated with other Teochew associations in Malaysia, Thailand, and China's Hong Kong and mainland and built exchange channels for the Teochews at home and abroad. Such efforts empower Teochew entrepreneurs to support each other in business growth and facilitate cooperation on larger development projects. How do you think the older generation and younger generation of Teochew Singaporeans understand their culture differently? Dr. Goh: The older generation of Teochews emphasize traditional values such as filial piety and integrity, while the younger generation are more open-minded and value diversity, individuality, and innovation. Young Teochews are also more eco- and health-conscious. Different groups of people from different times have demonstrated Teochew culture and spirit in diverse ways, but the precious, core values and traditions have been faithfully preserved and promoted. The TPIHK Youth Committee was established in September 2010 to forge stronger ties between young Teochew Singaporeans and recruit young talent from locals and new immigrants. Our ultimate goal is to carry forward the culture and spirit of Teochew people. The founding of Serial System coincided with the 10th anniversary of the introduction of China's reform and opening-up policies. Have these policies made a difference to your business development? Dr. Goh: China, then with a population of nearly 1 billion, was a huge market full of business opportunities when the reform and opening-up policies were first implemented in the late 1970s. That's why I started a research and development (R&D) company in the southwest Chinese city of Chengdu in 1993, five years after Serial System was founded. To minimize competition and gain commercial advantages, the R&D company adopted an operation strategy featuring gradual expansion from cities at second and third tiers to first-tier cities in China. Enormous changes have taken place in China over the past four decades of its reform and opening-up. When first entering the Chinese market, my business was mainly focused on selling semiconductor products from the United States, Japan, the Republic of Korea, and Taiwan region to the Chinese mainland. The situation has now changed. As the Chinese mainland started producing home-grown chips, my company became engaged in trading Chinese-produced semiconductors with the rest of the world. I have full confidence in the future of China's economic development. China will always remain an ideal destination for foreign investment. What do you think of the implementation of the BRI in the past decade? Which industries do you think enjoy better prospects in terms of cooperation under the BRI framework? Dr. Goh: Inclusiveness is the dominant feature of the BRI. The Initiative is open to all countries and offers businesses plenty of opportunities if their products are good quality at a fair price. Over the last 10 years, the BRI has attracted widespread participation and delivered real benefits. The constantly improving business environment in China encouraged new foreign investment, while many Chinese enterprises invested in countries along the route. Such stronger business ties have contributed to greater economic vitality. In addition to trade facilitation, the BRI has also served as a platform for information sharing and resource pooling, which helped firms improve market judgment and decision-making through enhanced cross-border communication between the business communities. In 2018, the Teochew Entrepreneur Award sponsored by TPIHK was upgraded to the ASEAN Teochew Entrepreneur Award. By uniting companies in Malaysia, Thailand, and Indonesia among other ASEAN member states, we hoped to create a platform of exchange for Teochew businessmen in the region and help them seize better opportunities under the BRI framework. Looking ahead, I think the BRI cooperation on technology enjoys bright prospects. From high-speed rail construction to the development of 5G networking and autonomous cars, technological cooperation has played an important role in implementing the BRI. I believe that in the next 10 years, more business opportunities will arise from areas including the digital economy, artificial intelligence, and 5G technology. Increased BRI cooperation on digital infrastructure is expected to ensure more reliable data transfer at a higher speed, which will provide underlying support to the development of convenient cross-border payment systems and the digital transformation of countries along the route. What preferential measures from the Chinese government would overseas Chinese communities want? Dr. Goh: The first would be tax policies such as reductions on property taxes. The second is preferential policies for business cooperation such as providing concessional loans and lowering tariffs. The third would be training and scholarship programs designed to help overseas Chinese businessmen gain a better understanding of China's regulations and policies on investment and business operation as well as acquire practical know-how on business management. In recent years, has the younger generation of overseas Chinese shown more enthusiasm about doing business in China? Dr. Goh: Yes. The younger generation of Chinese in Singapore have shown an increased interest in starting businesses in China. Inspired by China's economic development and stronger policy support for innovation and entrepreneurship, more and more young overseas Chinese are paying attention to business opportunities in China and taking active steps in this respect. The implementation of the BRI and the ASEAN Economic Community presents both opportunities and challenges for them. I am always reminding young people I meet about the business opportunities in China. I tell them that if they want to learn how to do business and make a fortune, they should go to China. I believe that the younger generation of Teochews will continue to pool their efforts to make greater contributions to China-ASEAN cooperation and economic and trade cooperation among countries along the Belt and Road.
Promoting China-Singapore Cooperation Through Talent Exchange
Exclusive interview with Tony Du Zhi Qiang, president of Singapore Tian Fu Association By China Report ASEAN BEIJING, Sept. 21, 2023 /PRNewswire/ -- In recent years, southwest China's Sichuan Province has accelerated its transition from an inland hinterland to a frontier of opening-up. Major national strategies such as the Chengdu-Chongqing Twin City Economic Circle and the New International Land-Sea Trade Corridor converge and overlap in Sichuan, providing new opportunities for overseas Chinese to invest in new businesses there. Today, Singapore is the second largest source of foreign direct investment (FDI) in Sichuan. Statistics showed that by the end of 2022, Singapore had set up 737 foreign-invested enterprises (institutions) in Sichuan, with a total FDI of US$4.18 billion. The Singapore Tian Fu Association was the first new immigrants' association founded locally after the establishment of China-Singapore diplomatic relations. Its founding members were mainly immigrants from Sichuan. Since its establishment, the association has actively integrated into local society and participated in various exchange activities, playing an important role in strengthening the business cooperation and personnel exchange between Chinese (especially Sichuan) and Singaporean enterprises. At the beginning of this year, the Singapore Tian Fu Association organized a tour to take more than 30 of its members to Chengdu, Mianyang, and other Sichuan cities to engage in economic activities, trade, and cultural exchange. According to Tony Du Zhi Qiang, president of the association, more than 10 members have invested in new businesses in Sichuan. To celebrate the 10th anniversary of the BRI, China Report ASEAN conducted an exclusive interview with Du on the advantages of Sichuan in China-Singapore economic and trade cooperation and the role of overseas Chinese in China-Singapore cooperation. China Report ASEAN: The Singapore Tian Fu Association was the first new immigrants' association to be founded locally after the establishment of China-Singapore diplomatic relations. Could you please describe how it came to be? Du: I came to Singapore in 1991 to work in the Hup Heng Poultry Industries Pte Ltd. As a workshop manager, I worked and lived alongside other workers, doing everything from chicken slaughtering to equipment maintenance. I signed a contract with the company to work for eight hours a day, but my actual work hours were more than 12 hours every day. In Singapore, where labor was in short supply at that time, my labor skills were unanimously recognized. Many people asked me to recommend more skilled Chinese workers to work in Singapore. Within the next month, I introduced more than 50 workers from Sichuan to Singapore. Many of them quickly became the backbones of their companies. I felt a strong demand for talent in Singapore and a business opportunity there. So I decided to set up my own business specializing in human resources. In 1994, I founded Asia-Link Technology Pte Ltd, Singapore's first HR company founded by a Chinese person. I introduced Chinese workers to work in Singapore while also providing the necessary resources for Singaporean enterprises seeking to invest in China. Later, to help the new Chinese immigrants integrate into Singaporean society more quickly, I got the idea to establish an overseas Chinese social organization. In 2000, the Singapore Tian Fu Association was officially registered as the first new immigrants' association founded locally. China Report ASEAN: What role does the Singapore Tian Fu Association play in China-Singapore exchanges? Du: The association serves new immigrants from various sectors living and working in Singapore by providing them a platform for communication and learning and helping them better integrate into the local multi-racial society. It has also built a bridge of cultural, scientific, technological, and commercial exchanges between the two countries and promoted information exchange and communication among its members. The association has also actively responded to various commercial, trade, and exchange activities in Sichuan Province. With active participation from the association, Singapore and the Sichuan provincial government established the Singapore-Sichuan Trade and Investment Committee, which has organized events for investment promotion, science and technology exchange, and investment projects, building a bridge for people-to-people exchange and economic cooperation between the two countries. The association also looks after the people's well-being in its native land. Over the years, it has organized donations of cash and supplies for the victims of the snow disaster in southern China in 2008, the Wenchuan earthquake in 2008, and the Ya'an earthquake in 2013. It donated funds to construct a school in Luojiang District, Deyang City. It provides long-term assistance for students of impoverished families in Luojiang and Ya'an. It also donated to the Shitai Township Primary school in Zitong County, Mianyang City, and established the Li Shiying Award & Scholarship as an "Overseas Chinese Love Project." China Report ASEAN: At the beginning of this year, the Singapore Tian Fu Association organized a fact-finding tour of Sichuan for its members. What did you think about it? Du: Over the last three years, the COVID-19 pandemic has made it difficult for overseas Chinese to communicate with the people in China in person, but it has not blocked the desire of the enterprises and people of the two countries to get to know each other and strengthen exchanges. With the adjustment of pandemic response measures, the Sichuan provincial government invited more than 30 Singaporean Chinese businessmen from the sectors of finance, construction, and banking on a five-day fact-finding tour of Chengdu, Mianyang, and other destinations in the province. We found that Singapore and Sichuan Province have extensive cooperation opportunities in developing microelectronic equipment hardware and new energy development. Several association members conducted in-depth discussions with local enterprises during the trip. We expect cooperation projects in the three major fields of food processing, medicine, and science and technology to materialize. Fact-finding tours like this help us gain a deeper understanding of local policies and enable us to conduct face-to-face discussions that are beneficial for cooperation between entrepreneurs from the two countries. I think that China's improved economic situation will attract more overseas Chinese businessmen to seek cooperation in China and that more transnational projects will materialize. The Singapore Tian Fu Association will play the active role as a bridge in bilateral economic and trade cooperation. China Report ASEAN: This year marks the 45th anniversary of reform and opening-up in China. What do you think of the development and changes over the last 45 years? Du: I enrolled in college right after the college entrance examination was resumed in China in 1977. I came to Singapore in 1991. I have witnessed the tremendous changes in China over the last 45 years of reform and opening-up first hand. In the 1980s and 90s, China was still lagging far behind Western countries in many ways and had a strong desire to open the market and attract foreign investment. Since then, epoch-making changes have taken place in China, which now leads the world in telecommunications, high-speed rails, and many other areas. The achievements of the Belt and Road Initiative (BRI) are there for all to see and marvel at. Overseas Chinese have enjoyed the "dividends" of China's reform and opening-up. They also shoulder the responsibility of promoting the development of their native country. Overseas Chinese should play a role as a "bridge" between China and foreign countries and contribute to promoting economic and people-to-people exchanges. For me, I will continue to contribute to the friendship and cooperation between China and Singapore by promoting talent exchange between the two countries. At the same time, I think overseas Chinese social organizations should further develop and enhance their influence as hubs and cores of overseas Chinese communities to contribute more to the development of their native country. China Report ASEAN: This year marks the 10th anniversary of the BRI. What do you think of the achievements that China and Singapore have achieved in Belt and Road cooperation? Du: Thanks to its strategic location as a crossroads between East and West, Singapore will assume an even more important role as a southbound channel for Chinese enterprises to expand their overseas markets. It will also be able to support the advancement of the BRI in finance, law and international affairs. At the same time, Singapore can benefit from its participation in the Belt and Road projects alongside other countries along the routes and enjoy common development and prosperity. Over the last 33 years of diplomatic relations, China has become Singapore's largest trading partner, while Singapore has become China's largest source of new foreign investment. Against the backdrop of the volatile global economic situation, the achievements have not come easily. The BRI has proposed a number of mutually beneficial projects. To make all these things happen, I think we should not only cultivate more talent, but also get to know more about the laws and regulations of the relevant countries. To achieve steady and long-term development, we must stay dedicated to the cause while standing fully prepared for danger in times of peace. China Report ASEAN: This April, China and Singapore announced that they would upgrade their bilateral relations to "an all-round high-quality future-oriented partnership." In what areas are you most interested for future cooperation? Du: Talent is crucial for economic development. Nowadays, more and more overseas talent has been attracted by China's excellent business environment. In the process of building the Chengdu-Chongqing Twin City Economic Circle, talent has been of great significance for innovation resource agglomeration, key technological breakthroughs, industrial structure optimization, and high-quality development. I'm ready to contribute more to the development of my native land. I am also happy to assist Chinese companies seeking to invest in Singapore. In the future, the Singapore Tian Fu Association will continue to play a role as a bridge and link to the world's most advanced technology, management modes, and development experience. We will try to help more Sichuan enterprises "go global" and provide services to outstanding Singaporean enterprises seeking to invest in China. I hope that our efforts will promote economic and people-to-people exchanges as well as production capacity cooperation between Sichuan and Singapore and other countries and regions along the Belt and Road.
His Highness Sheikh Ahmed invests $5 million in Zero Carbon Ventures
Zero Carbon, a company dedicated to bringing carbon-reducing technologies to the Middle East and North Africa region, is honored to announce the closing of its seed investment round. This coincides with the appointment of His Highness Sheikh Ahmed bin Mana bin Khalifa Al Maktoum as strategic investor and chairman of the board of directors. This dual role not only underscores His Highness’ commitment to supporting Zero Carbon’s mission to deliver innovative decarbonization projects, but also sets the stage for the company's intensified drive towards global sustainability execution at scale. Martin Reynolds, CEO of Zero Carbon said: "We're thrilled to welcome His Highness Sheikh Ahmed not only as an investor but also as our chairman. His involvement is more than an endorsement; it's a powerful union of vision and purpose. Our ambition has always been to enact tangible change. Our fully established and experienced senior management team, with His Highness by our side, is incredibly well-positioned to drive our sustainability initiatives even further." His Highness Sheikh Ahmed remarked on his new role, stating: "I initially met Martin and the Zero Carbon team in April this year, and fell in love with their vision. The world now needs people like them to actually get to work on the delivery of these kinds of projects. I hired Zero Carbon to begin work on decarbonizing my own Dubai real estate portfolio. I see immense potential in Zero Carbon, and I am eager to guide and do my part in this pivotal journey towards Net-Zero." Since its inception in 2022, Zero Carbon has achieved significant progress in advancing sustainability initiatives. With a seasoned team of more than 20 business leaders, engineers, scientists and program managers, the company is uniquely positioned to deliver on significant sustainability projects and to help large-scale organizations and industries to execute tangible emission reductions through technological innovation. Zero Carbon stands firm in its quest to reduce emissions and galvanize others to turn words into action for a cleaner, more sustainable world. This investment and appointment mark just the beginning for Zero Carbon. With the highly anticipated COP28 in Dubai Expo City less than three months away, the company is gearing up to be at the forefront of sustainability dialogues and actions on the global stage.
Infobip recognized as communications platform Leader by analyst firm Gartner
Global cloud communications platform Infobip has been named a Leader in the Communications Platform as a Service (CPaaS) market by analyst firm Gartner. In the first Gartner Magic Quadrant for CPaaS, Infobip is recognized as a Leader for its overall completeness of vision and ability to execute. In its Competitive Landscape CPaaS report, Gartner said: "the communications platform as a service market is evolving beyond APIs to encompass the entire customer journey. Existing conversational commerce use cases are broadening to become conversational everything." In the same report, the analyst recommended CPaaS providers must: "construct customer experience as a service (CXaaS) offerings to target the entire customer life cycle by encompassing not just CPaaS, but also contact center, customer data platform (CDP) and conversational artificial intelligence (CAI), as well as customer journey orchestration." Gartner also recommended providers: "accelerate time to value for customer experience (CX) by providing tools such as user-friendly templates, 'solutions in a box' for advanced use cases, improved visual builders and detailed journey analytics." To meet these evolving demands, Infobip recently launched Experiences, a revolutionary generative AI-powered, no-code journey builder that helps businesses engage customers, foster loyalty, and drive growth. Infobip Experiences enables organizations to orchestrate customer journeys and save time with a library of journey templates from onboarding and engagement to retention and loyalty. Alongside its network of 43 data centers and 9,700 global connections, of which 800 are direct operator connections, customers cite Infobip's worldwide reach and scale, along with its delivery and latency guarantees, as key differentiators. Silvio Kutić, CEO at Infobip, said: "We believe the Gartner recognition of Infobip as a Leader in the CPaaS market reflects the investments we're making to provide innovative new products and services alongside our global reach and scale. Moreover, our acquisitions of U.S. messaging heavyweight OpenMarket and VoIP provider Peerless Network have cemented our superior position in America alongside our market-leading offer globally. "As a result, we offer a global one-stop shop for omnichannel interactions and communications. But we're not stopping now. With the CPaaS market forecast to grow to $30.6 billion by 2026, we are keeping our foot on the gas to ensure we remain the leading full-stack omnichannel communications platform for every platform." Gartner's Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in those markets. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries, and Niche Players. Gartner disclaimer Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. View a complimentary copy of the report at https://www.infobip.com/analyst-reports/gartner-mq-cpaas-2023 ###  Gartner, "Magic Quadrant for Communications Platform as a Service (CPaaS)" by Lisa Unden-Farboud and Ajit Patankar, September 2023  Gartner, "Competitive Landscape: Communications Platform as a Service report" by Brian Doherty, Daniel O'Connell, Lisa Unden-Farboud, Ajit Patankar, 17 March 2023
KBTG Techtopia Takes Thai People and Partners Worldwide on a Journey Across the AI-Verse
KASIKORN Business-Technology Group (KBTG), Thailand’s leading tech organization and the technology arm of Kasikornbank, organized “KBTG Techtopia”, a thought-provoking and skill-awakening tech conference. This two-day event (1-2 September 2023) serves as a platform for more than 450 tech enthusiasts and members of various industries to explore the world’s latest trends, learn new things, connect with each other, and collect the necessary assets to accelerate their personal and professional growth. With artificial intelligence rapidly dominating every discussion and nearly every industry, KBTG is determined to establish itself at the forefront of AI development in Thailand by hosting the first KBTG Techtopia under the theme “Across the AI-Verse”, inviting over 40 partners who are specialists in specific fields to share their AI projects and dive deep into the technology realm in different dimensions. The key highlight of KBTG Techtopia is the conference stage, which features 37 notable experts from 9 countries, ranging from global tech companies like Adobe, AWS, Cisco, GitHub, GitLab, Google Cloud and Microsoft, international research labs, to the government sector and universities in Thailand. For a total of 22 sessions, the topics were divided into four categories: AI Trends and Outlook: experience the influence of AI through emerging trends and innovations beyond Generative AI, journeying across the world of M.A.D. (machine learning, AI, data) AI Transformation: learn how AI is triggering transformation various domains e.g. DevOps, cyber security, Web3, and how one can hone its power to transform their organization AI x Human: delve into today’s relationship between humans and AI, reflecting on the looming fear and benefits, ultimately seeking the means to co-exist AI Ecosystem: explore the impact and opportunity of AI in various industries e.g. health, finance, retail, environment, etc., including heavily debated issues like AI ethics In addition to the main stage, KBTG Techtopia offered a chance for attendees to acquire new skills through hands-on “Playground Workshop”, in which experts from leading organizations designed a series of workshop specific to this occasion, comprising KBTG’s Designing AI Products workshop, GitHub’s AI Code Off Competition, Splunk’s Machine Learning workshop, and Google Cloud’s Generative AI workshop with Google’s own technology. These companies also joined other six companies (Cisco, Curiosity Software, Dynatrace, Elastic, PALO IT, Slack) in showcasing their AI solutions in the “Exhibition Showcase” zone. Located in the same area were booths showcasing a variety of AI projects and demos by KBTG and its subsidiaries: KX and Kubix. Some examples of these projects are Car Inspection AI (using AI to automatically assess car damage), CCTV Analytics (analyzing the performance of bank branches with de-identified data), Asset Intelligence (improving NPA images decoration using AI to increase sales), and AINU (identity verification technology and AI business solution from KX – currently open for business). Other noteworthy sessions at the event include “Speed Dating” for fresh graduates and professionals who are searching for the next step in the career and would like to check their compatibility with KBTG’s talent acquisition team, “Business Matching” for business owners who are seeking new solutions, and “KBTG FinFest” a networking party where everyone can indulge in good food, great tunes, and gain new friends. Mr. Ruangroj Poonpol, Group Chairman of KBTG expressed his gratitude to all attendees and partners who have partaken in the event, saying “this is the first big conference hosted by KBTG. Our aim for KBTG Techtopia is to create a platform where we can learn together, help each other grow and elevate the Thai tech ecosystem to the next level. This year, we have witnessed how fast AI is evolving. While new opportunities are presented to us, more and more people begin to fear the possibility of AI replacing their jobs in the near future. Nevertheless, if we possess the right knowledge, skill and mindset, I believe we can use AI to augment human’s capability and help us achieve the things we never could before. The next ten years will definitely go by faster than the past 50 years, so it is up to us whether we want to be transformed or drive the transformation ourselves. This is the perfect time for us to imagine the world in which we would like to live, then explore how AI can assist us in turning that vision into a reality. Once we have the answer, we can think and create said world together. Essentially that is what KBTG Techtopia is about: uncovering new possibilities and realizing the future with a community of people who are as passionate as you.” In response to Kasikornbank’s business strategies based on ESG principles in the drive towards sustainable growth, KBTG will donate all proceeds from ticket and merchandise sales to Thailand Environment Institute, a non-profit, non-governmental organization focusing on environmental and sustainable development issues.
Offshore wind industry poised for growth, but economic pressures and tech innovation need to be managed
The potential of offshore wind as a viable source of clean power for the energy transition is indisputable. Investment in the sector is growing rapidly around the world, the power capacity of installations is ramping up, and technological innovations are proliferating – from multi-purpose windfarms and floating installations to next-generation connectivity and drone-based maintenance. Developers and their insurers need to manage a range of risks to successfully scale offshore wind globally, among them prototypical technology, economic pressures, more extreme weather conditions, cable damage, and collision perils, as well as environmental concerns. In its new report, A turning point for offshore wind, Allianz Commercial, as a leading insurer of renewable energy and low-carbon technology solutions, highlights growth opportunities, tech innovations, risk trends, and loss patterns for the offshore wind industry as the sector prepares for global growth. "Offshore wind farms are highly complex projects," says Anthony Vassallo, Global Head of Natural Resources, Allianz Commercial. "The lessons learned from past losses – which are primarily damage to cables and turbines – are essential for the industry to continue to grow sustainably. Emerging risks need to be explored, too, as developers prepare for widescale deployment of offshore wind around the globe. The size of turbines is ever increasing, wind farms are moving further out into harsher marine environments where they are more exposed to extreme weather, and technological innovation is constantly progressing. Navigating biodiversity issues in coastal communities will also become more important as demand for ocean space is set to increase fivefold by 2050." China has overtaken Europe as biggest market More than 99% of the total global offshore wind installation is in Europe and Asia-Pacific today, but the US is investing heavily in this sector and China has overtaken Europe as the world's biggest market, with half of the world's offshore wind installations in 2023 expected to be in the country. In 2022, 8.8GW of new offshore wind capacity was added to the grid with global installed capacity reaching 64.3GW. Around 380GW of offshore capacity is expected to be added across 32 markets over the next 10 years, according to the Global Wind Energy Council, with half of that growth expected to come from the Asia Pacific region. "Offshore wind is poised to play a pivotal role in Asia as economies decarbonize their power supply. The sector is still relatively young and rapidly growing, and it is essential that projects are conceptualized, designed, and engineered for the known risks ahead that they will face, such as natural catastrophes, supply chain challenges, and other emerging risks due to technological advancements," says Trent Cannings, Regional Head of Natural Resources and Construction, Allianz Commercial Asia. While growth ambitions are huge, all is not plain sailing for developers, according to the report. Spiraling costs have halted major wind projects recently and the industry is impacted by inflation, capital expenses, rising interest rates, and geopolitical instability. The cost of materials and vessel hire have risen, while the supply of materials and access to contractors remains challenging. Supply chain bottlenecks, lengthy permitting procedures and delays to grid connections are also exerting pressure. "The scale and scope of the global offshore wind roll-out is epic. It requires the expansion of manufacturing footprint, port facilities, and infrastructure. And it needs to be fast-tracked by all stakeholders in a joint effort – financial institutions, corporates, and governments," says Adam Reed, Global Leader Offshore Renewables and Upstream Energy, Allianz Commercial. Cables top cause of claims Both the energy sector and the insurance industry have considerable expertise when it comes to managing the perils of offshore wind activities. In one of its largest offshore wind insurance markets, Germany and Central Eastern Europe, Allianz Commercial has seen 53% of offshore wind claims by value from 2014 to 2020 relate to cable damage, followed by turbine failure as the second major cause (20%). From the loss of entire cables during transport to the bending of cables during installation, cable losses have incurred multi-million-dollar losses in offshore wind as cable failure can potentially put a whole network of turbines out of commission. "Cable risk is critical and therefore the quality of service is vital. Contractors need to provide assurance they have the required expertise to remedy incidents and that they can source replacement components quickly in order to contain losses incurred during downtime," explains Reed. "From an underwriting perspective, with subsea cabling work insurers pay close attention to the type of cabling used, the kind of vessels involved, the communication between client and contractor, and how often qualified risk engineers will make site visits to oversee proceedings." Tech innovations breaking the mold The sector has to carefully manage the deployment of emerging technologies at scale. Novel approaches include so-called 'energy islands' which share power between grids and nations and multi-purpose wind farms that produce green hydrogen or house battery storage facilities. Pilot projects such as the Offshore Logistics Drones from German utility company EnBW explore the deployment of drones for the maintenance and repairs of turbines, reducing the reliance on helicopters and humans. While most offshore wind power is currently 'fixed-bottom', the development of leading-edge floating wind technologies in deeper ocean waters is poised for commercialization. Managing the increasing size of wind turbines is another key challenge. In the last 20 years they have nearly quadrupled in height – from around 70m to 260m – almost three times taller than the Statue of Liberty in New York. Rotor diameters have increased fivefold in the past 30 years. Wind turbines with capacities of 8 or 9MW are common, but newer models reach 14 to 18MW with a wind farm project in Australia recently announcing plans to use 20MW turbines. "With new technological approaches and an increase in turbine size comes a corresponding increase in risk. We are closely monitoring the many innovations in the offshore wind industry which include prototypical technologies, pilot projects, and evolving standardization. These new and unproven technologies often come with a lack of technical maturity and data available. By partnering with clients in the early stages of projects, and exchanging knowledge and learnings, all parties will gain a greater understanding of the exposures involved," says Dr Wei Zhang, Senior Risk Consultant, Natural Resources, Allianz Commercial. Availability of specialist vessels and collision incidents also pose challenges Another pressing problem identified in the report is the availability of specialist vessels. A bigger fleet globally is needed that goes beyond Europe as a current primary location including installation, jack-up and support vessels. Meanwhile, vessel collision with turbines and offshore infrastructure can also result in significant losses, with an uptick in incidents seen in recent years, the report also notes. Although, to date, these have typically involved smaller vessels, often as a result of human error, there have also been a number of incidents involving larger vessels, an increasing concern given 2,500 wind turbines are due to be installed in the North Sea alone before 2030. Navigating harsher environments Although the offshore sector in Europe has significant expertise in managing operations in hazardous marine environments, as it expands around the world, there will be new developments further from shore in territories prone to different types of weather conditions and natural catastrophes. "On the East Coast of the United States or Taiwan, for example, wind speeds and wave action will be much more significant. It remains to be seen whether climate change will heighten the risk, as rising sea surface temperatures can intensify the strength of hurricanes," explains Reed. Despite its invaluable contribution to the net-zero transition, the offshore wind industry needs to be mindful of responsible development and environmental stewardship, the Allianz report points out. This includes managing its impact on biodiversity and marine wildlife or the sourcing of required raw materials such as rare earth elements or lithium. Allianz is supporting some of the most exciting offshore developments, whether as an investor or insurer. In its recently launched Net-Zero Transition Plan, Allianz Commercial committed to a revenue growth of 150% for renewable energy and low-carbon technology by 2030. In addition, Allianz committed to €20 billion in additional investments for climate and clean-tech solutions. As an investor, the company is contributing to about 100 wind farm and green energy projects such as Hollandse Kust Zuid in the Netherlands, He Dreiht (Germany), or NeuConnect (UK/Germany). Allianz Commercial provides insurance coverage solutions across all stages of offshore wind development, construction and operations and is the insurer of many developments, among them Revolution Wind (US), Dogger Bank Wind Farm (UK), NeuConnect (UK/Germany) and Jeonnam 1 (South Korea).
Capture.HK Revolutionises Memories with the Launch of Slide Film Digitisation Service
CaptureTM Hong Kong, a leading service provider of analogue media digitisation, is excited to announce the launch of its latest service: Slide Digitisation. This new offering allows customers to preserve their cherished slides, ensuring that precious memories captured on film are safeguarded for future generations. Preserving History and Inspiring Moments Slides have a rich history that spans several decades, playing a significant role in preserving and sharing colour images. Originating in the mid-19th century, slides quickly became popular with Kodak’s introduction of the legendary Kodachrome slide film in 1935. In Hong Kong alone, Capture.HK estimates millions of slides in Hong Kong alone still waiting to be digitised. Slides serve a multitude of purposes and found significant utility in preserving and documenting family, company or an organisation’s history, ensuring that legacies are passed down through generations. They provide stable colour and vibrant saturation, often used for print magazines and journalism. Slides also found extensive application in presentations for educational and corporate environments. Moreover, slides play a significant role in photography exhibitions, captivating audiences with their ability to showcase vivid imagery and artistry when projected through the famed “Carousel” projector. Hobbyists around the world cheered in 2017 when Kodak Alaris revived the slide film Ektachrome for consumer and cinematic use because of it is fine grain and surreal colour saturation. Sharing Timeless Moments Capture.HK brings joy to customers by digitising and preserving timeless moments, allowing them to share these precious memories with others. The process of digitisation offers a unique opportunity to revive and relive cherished moments for both corporations and consumers. “King Fook is soon celebrating our 75th anniversary. This is a huge milestone for a company that is a part of the fabric of Hong Kong. It was so important to uncover our rich archive of historical artefacts with the help of Capture.HK.” Says Paulette Sum, CEO at King Fook Holdings Limited. “We had years of memories stored of chronicling major company events. Many of our images are slides of precious jewellery from over 50 years ago that we know our customer still cherish to this day.” One satisfied customer, David Nesbitt of the Nesbitt Centre, shared his experience with Capture.HK's Slide Digitisation service. "I had a collection of slides documenting my family's and Hong Kong’s history such as Kai Tak Airport, Jumbo Floating Restaurant, but they were fading away. I decided to digitise them with Capture.HK, and I couldn't be happier with the results. The team captured the essence of each slide, preserving the vibrant colours and intricate details. Now, I can easily share these memories with my loved ones through Google Photos." Capture.HK offers a Comprehensive Solution for Slide Digitisation and Other Analogue Media Capture.HK's Slide Digitisation service accepts various formats, including 35mm, Super 35mm, 110, 126, 127, 127 Superslide and 120/220 Medium Format. Each slide is meticulously digitised at a remarkable 12-megapixel resolution. As a comprehensive memories preservation solution, Capture.HK can also digitise other analogue media such as photographs, photo albums, videotape and digital media. To celebrate the launch of the Slide Digitisation service, Capture.HK is offering a limited-time discount offer until the end of this year. Regularly priced at HK$6 per slide, the promotional price is 50% off at HK$3 per slide. Furthermore, Capture.HK is thrilled to introduce a free trial service, allowing customers to experience the quality and convenience of the digitisation process. The free trial includes the digitisation of 10 slides, accompanied by a digital upload (exclusively to Google Photos). From now until 20th October 2023, customers of Capture.HK can simply schedule an appointment to experience the free trial. Learn more about Capture.HK: Website: https://www.capture.hk/ Facebook: https://www.facebook.com/CaptureLimited Instagram: https://www.instagram.com/Capture_HongKong/ YouTube: https://www.youtube.com/channel/UC9npy9yWNsH9qG-ZcaxfC7A LinkedIn: https://www.linkedin.com/company/CaptureLimited/ Capture Limited Capture.HK is the leading analogue media digitisation service provider in Hong Kong. We digitise analogue media (photo albums, photographs, videotapes, digital media like USB Flash Drive, Compact Flash, DVD, etc) and slides, using our proprietary technology. Capture.HK is the only service that saves memories directly to Google Photos through secure Google authentication. In the USA, we have cooperated with Fujifilm, Google and retail giants like Walmart and Costco, to help more than 12 million families and organisations to safeguard their memories.
Heritage drinks brand Yeo's launches spectacular Drinkable Garden at Gardens by the Bay
Singapore's iconic heritage brand, Yeo Hiap Seng, (Yeo's) has launched the Yeo's Drinkable Garden, a refreshing and immersive experience at Singapore's premier horticultural destination, Gardens by the Bay. The Yeo's Drinkable Garden takes visitors on a multi-sensorial journey inspired by the brand's signature and most distinguishable drink - Yeo's chrysanthemum tea. The month-long exhibit pays homage to the humble chrysanthemum and is a feast for the senses, featuring an installation inspired by different Yeo's chrysanthemum brews - Yeo's iconic signature Chrysanthemum Tea, the newly launched 'heavenly' rare Snow Chrysanthemum Tea and a "test-kitchen" Rose-Infused Chrysanthemum brew. The botanical experience will tell the story of the exceptional quality and craft behind each Yeo's drink. Visitors will learn about the unique benefits across a variety of chrysanthemums and get a glimpse into the intricate craft infused into making Yeo's chrysanthemum tea – from the growing and harvesting of fresh flower petals, through to the drying process, the masterful brewing techniques and to the final step of meticulous cooling and packaging. Also on site will be the special edition Yeo's signature chrysanthemum tea, that commemorates the centenary of Singapore's founding Prime Minister, the late Mr Lee Kuan Yew, and to celebrate his legacy as Singapore's "chief gardener" and his visionary role in transforming Singapore into a green city. The commemorative Yeo's packs are not for sale, and will be distributed in educational settings around Singapore. Gardens by the Bay, a ground-breaking project made possible by the foundation laid by Mr Lee, will be one of multiple distribution points all over Singapore, where packs will be given to visitors for free while stocks last. Said Ong Yuh Hwang, CEO, Yeo Hiap Seng: "Yeo's continues to promise on its heritage of producing intricately crafted drinks using only quality ingredients. Our Yeo's Drinkable Garden is a reflection of the core values of our signature drink - real chrysanthemum flowers filled with aroma and flavour, brewed in its purest form with no compromise on taste - a true celebration of the best of our heritage combined with creativity and innovation." The Yeo's Drinkable Garden and the launch of new chrysanthemum flavour also marks the brand's latest efforts in diversifying its primary product ingredients to cultivate a more sustainable production practice for the business. By including and exploring new variants of chrysanthemum flowers into its line of drinks, Yeo's recognises that promoting diversity within its largest product ingredient will significantly impact its reliance on a singular crop and contribute to a healthy supply of chrysanthemum flowers for the future. Yeo's signature Chrysanthemum tea is produced from the aromatic Hang Bai Ju chrysanthemum. Each Yeo's chrysanthemum packet contains at least ten extracted chrysanthemum flowers that are freshly brewed, producing the iconic aroma with cooling properties distinct only from Grade A Hang Bai Ju Chrysanthemum flowers. Yeo's newly launched Snow 'Kunlun' Chrysanthemum inherits its highly flavourful attributes from the gradual pace of growth unique to the cool temperatures found in China's Kunlun Mountains. Yeo's Drinkable Garden is a collaboration between Yeo's, Gardens by the Bay and award-winning botanical studio, This Humid House, renowned for their bold contemporary creations that reflect the climate, geography and collective culture of our surroundings. The Drinkable Garden complements Gardens by the Bay's upcoming Chrysanthemum Charm – the penultimate changing floral display in Flower Dome for 2023, which opens on Sep 29. Chrysanthemum Charm is inspired by the open grasslands reminiscent of the steppes of Mongolia and features diverse varieties of chrysanthemums. The floral display is made possible by Yeo's. In addition, Yeo's will also be supporting Gardens by the Bay's inaugural Flower Carpet, which will open on Sep 23 at Supertree Grove. Said May Yeo, Assistant CEO, Gardens by the Bay: "Gardens by the Bay is a horticultural show garden with a strong focus on floral artistry. The installation of beautiful blooms of Yeo's Drinkable Garden are a stunning example of such floral artistry and will complement the visitor experience in Flower Dome. A ground-breaking project like Gardens by the Bay would not have come to fruition without the late Mr Lee Kuan Yew's vision of greening the nation. In commemoration of Mr Lee, Gardens by the Bay is one of the venues for distribution of the special edition pack of chrysanthemum tea, to pay tribute to his centenary." The Yeo's Drinkable Garden is open to visitors over the next four weeks from Sept 16th to Oct 13th at the South American Garden in Flower Dome, Gardens by the Bay.
KAUST enhances the Kingdom's economic competitiveness by forging transformative research and innovation collaboration with Shenzhen
King Abdullah University of Science and Technology (KAUST) has bolstered its strategic ties by collaborating with leading innovation and academic institutions in Shenzhen, China. Shenzhen, one of China's foremost hubs of technological development and its third most economically and technically developed city after Shanghai and Beijing, is a strategic partner in enhancing the Kingdom's innovation ecosystem. The collaboration with leading businesses, academics, and innovation specialists in Shenzhen solidifies the University's reputation as a premier global research and technology hub. During a visit to the University's campus on September 14, H.E. Mayor of Shenzhen, Mr. Qin Weizhong, along with 50 delegates from Tsinghua University; Tsinghua Shenzhen International Graduate School (Tsinghua SIGS), Research Institute of Tsinghua University in Shenzhen (RITS); Chinese University of Hong Kong, Shenzhen (CHUK-Shenzhen); Shenzhen InnoX Academy; and Shenzhen Research Institute of Big Data (SRIBD), signed several Memorandum of Understandings (MOUs) with KAUST. These MOUs emphasize shared capabilities in research, education, talent exchange and training, innovation, and entrepreneurship. These collaborations aim to foster a new generation of scientific research and innovation leaders, elevating the Kingdom's higher education system to unparalleled standards. The Shenzhen collaboration is part of a central pillar of KAUST's new strategy, unveiled last month. A component of its renewed vision, the University is intensifying its drive to launch initiatives that establish connections with elite academic institutions and innovation hubs worldwide. These alliances aim to deepen scientific relationships, catalyze technology adoption, and promote research commercialization to uplift the Kingdom's economic competitiveness. KAUST President Professor Tony Chan commented, "Our collaboration with esteemed Shenzhen institutions embodies one of KAUST's primary objectives – to enhance commercialization of our research and promote global research partnerships and talent cultivation. These synergies will amplify our influence and bring tangible benefits to the Kingdom." During a reception at the Ritz Carlton in Riyadh on September 16, Shenzhen delegates were co-hosted by KAUST and the Kingdom's Research Development and Innovation Authority (RDIA) with esteemed speakers H.E. Dr. Munir M. Eldesouki, President of King Abdulaziz City for Science and Technology, and head of the establishment team of the Research Development and Innovation Authority, H.E. Mayor of Shenzhen Mr. Qin Weizhong, H.E. Chinese Ambassador Chen Weiqing and KAUST Professor Jinchao Xu, and nearly 200 representatives attending from various Saudi ministries and the private sectors, including PIF, Saudi Aramco, as well as other critical business, innovation and research leaders in Saudi Arabia and China. In March 2023, a delegation from KAUST visited Shenzhen, entering into MOUs with top institutes, including CUHK-Shenzhen, RITS, SRIBD, Southern University of Science and Technology, Shenzhen Institute of Advanced Technology, Shenzhen InnoX Academy, International Digital Economy, and X-Institute.
FBS and Thai Influencer Trader Mait Team Up to Empower Traders Through Data-Driven Strategies
FBS, a leading international online trading platform, announces its long-term partnership with Trader Mait, a rising YouTube influencer from Thailand who is particularly known for his insightful content on personal finance and trading. In July 2023, Trader Mait took on the role of FBS brand ambassador in Thailand, joining efforts to enhance trading education accessibility. FBS and Trader Mait share their vision of opening the world of trading to the general public. As part of this collaboration, and with the support of FBS, Trader Mait delivers engaging educational videos, trading insights and cases based on his experience. FBS-branded content focuses on topics ranging from Trading Psychology and Risk Management to strategies for Growing One's Trading Portfolio and Trading Full-Time. "At FBS, we believe that trading education is fundamental to successful trading. We are excited to have Trader Mait as the FBS brand ambassador and eagerly welcome him to our team. Trader Mait’s dedication to explaining complex concepts in simple terms and desire to educate people strongly resonates with our values," said Ksenia Molodkina, Strategic Marketing Director FBS. Speaking about the partnership Trader Mait adds, "I am very excited to collaborate with FBS. Together, we can make a much more significant impact and reach out to a greater number of traders here in Thailand and the neighboring countries. What we’re doing aims to support ordinary citizens as they’re entering the world of financial markets." As the partnership unfolds, FBS and Trader Mait aim to empower individuals with skills and more expert content essential for informed decision-making and risk management in trading. To learn more about FBS, visit www.fbs.com/news
OctaFX: August inflation data may give more power to the ringgit
The Department of Statistics Malaysia (DOSM) will release monthly inflation data on 22 September. OctaFX experts suggest that August's annual consumer inflation will likely remain at 2.0%. According to official data released last month, Malaysia's annual inflation rate slowed to 2.0% in July from 2.4% in June. Lower inflation rates were recorded in Food and non-alcoholic beverages (4.4% in July from 4.7% in June) and Restaurants and hotels (5.0% in July from 5.4% in June). Overall, Malaysia's inflation rate of 2.0% was lower than that of neighbouring regions, with July inflation in Indonesia, the Philippines, and Singapore standing at 3.1%, 4.7%, and 4.1%, respectively. The Central Bank of Malaysia is satisfied with the reduction in inflation and kept its benchmark interest rate unchanged at the last monetary policy meeting as economic growth and inflation continued to ease. 'We see the continued growth of the Malaysian economy,' said Kar Yong Ang. 'With low consumer inflation and a signal from Malaysia's central bank that the ringgit continues to demonstrate its strength, we tend to assume that USDMYR will decline towards 4.520 and possibly lower,' he added.
Moomoo Japan Launches Online Brokerage Business, Offering about 7,000 Tradable US Stocks
HONG KONG, Sept. 21, 2023 /PRNewswire/ -- Moomoo Japan announced the launch of its online brokerage business on the global investment and trading platform moomoo. Starting from 19th September 2023, Japanese investors are able to trade approximately 7,000 US stocks and ETFs on the moomoo platform, which represents the highest level of tradable U.S. shares in the Japanese industry, and almost 30% more than the number of U.S. stocks offered by the second highest in the Japanese industry. As of the publication of this article, Japanese investors could trade on moomoo with the lowest commission rate among all Japanese online brokerages.  *Images provided are not current and any securities are shown for illustrative purposes only and are not recommendations. "We saw great interest in investing US stocks in Japan, especially the younger generation. With the launch of our online brokerage business, Japanese moomoo users can now trade US stocks via our proprietary moomoo app, just at their fingertips, while enjoying massive free data, professional-level investing tools and news services, that help them to make informed investing decisions," said moomoo Japan CEO Francisco Izawa. As a global investment and trading platform at the forefront of U.S. stock trading, moomoo is the first online platform to offer round-the-clock U.S. stocks and ETFs trading via the respective brokerages in Singapore and Australia. The same feature will soon be available to Japanese investors, allowing them to trade 301 selected US stocks and ETFs, 24 hours every trading day. This move will mark moomoo as the first Japanese online broker to offer 24-hour trading of over 300 selected US stocks and ETFs. Moomoo provides pro-level tools to Japanese investors, such as Capital Flow Overview, Short Sale Analysis and Institutional Tracker, from left to right in the picture *Images provided are not current and any securities are shown for illustrative purposes only and are not recommendations. Moomoo made its debut in Japan in October 2022, introducing its all-in-one app that offers market information, education tools and a vibrant community of global peers to Japanese investors. Moomoo Japan holds qualifications for conducting Type-I Financial Instruments Business, Type-II Financial Instruments Business, Investment Management Business, and Investment Advisory and Agency Business. Moomoo Japan has received significant praise from the public and media for 'shaking up' the online trading industry within the local market. In June, the prestigious financial magazine Nikkei Money recognized moomoo for its advanced analysis and expertly curated global stock information. Particularly noteworthy was the app's ability to provide English-focused data, a valuable resource that is often challenging to find in Japan. Grows with like-minded peers worldwide at moomoo Since its establishment in 2018 in Palo Alto, California, moomoo is committed to innovate the financial world and transform the investing experience. It breaks the barriers between amateur and professional investors, empowering investors of all kinds with a pro-level trading service and data with its technological advancements. "The Japanese stock market has also long been dominated by institutional investors, but the situation is becoming different now. Data shows that the proportion of shares held by individual investors in Japan has reached 17.6%, which is close to the highest level since 2013 ," Izawa said. "And it is good to see the younger generation in Japan attempt to trade stock and invest in their financial future. " According to a survey recently published by Japan's Financial Services Agency, as of the end of March, the total number of NISA, Nippon (Japan) Individual Savings Account, accounts in Japan reached 18.74 million, reflecting a 4% increase compared to the end of 2022. Notably, within this figure, 5.19 million accounts are held by individuals aged 20 to 39, representing about 5% growth compared to the end of 2022 . Moomoo nurtures a culture of continuous learning through its inclusive online Moo Community and complimentary investment education courses, catering to the needs of investors at every level of investment experience. In collaboration with its sister brand, moomoo cultivates an interactive online investing community that unites over 20 million investors from all over the globe. Within the Moo Community, investors can connect with like-minded peers, share experiences and stories, and potentially enhance their trading skills through free online courses and interactive events. "By the end of the second quarter, we observed a remarkable 330% surge in community engagement in Japan compared to the previous quarter. Similarly, our online investing curriculum experienced a substantial 142% sequential increase in click rates, " Izawa said.  3 Reasons to Choose Moomoo for US Stock Trading  Results of the 2022 Stock Distribution Survey  Japan Financial Services Agency's Publication of Survey Results on NISA Junior Account About moomoo Moomoo is an investment and trading platform that empowers global investors with pro-grade, easy-to-use tools, data, and insights. It provides users with the necessary information and technology to make more informed investment decisions. Investors have access to advanced charting tools, technical analytics, and Level 2 Data. Moomoo grows with its users, cultivating a community where investors share, learn, and grow together in one place. Moomoo provides free access to investment courses, educational materials, and interactive events that any investor, at any level, can gain from. Users can join forum discussion, trending topics, and seminars to better their investment knowledge and insights. The moomoo app is offered by Moomoo Technologies Inc. a company that is based in Palo Alto, California. The app is used globally in countries including Singapore, Australia, Japan, Malaysia and Canada. Moomoo's parent company, Futu Holdings Limited, is Nasdaq Listed. It is a global strategic collaborator with the New York Stock Exchange. Moomoo is not just your investment platform. It is your investment journey.
India-focused private equity and VC funds raised $8.5bn in 2022, the highest ever annual fundraising value - Preqin reports
Defensive sectors in India divert investment attention away from traditionally popular sectors like IT SINGAPORE, Sept. 21, 2023 /PRNewswire/ -- Preqin, the global leader in alternative assets data, tools, and insights, published its Private Equity and Venture Capital in India 2023: Preqin Territory Guide report. In collaboration with an esteemed partner, the Indian Venture and Alternate Capital Association (IVCA), this report is the official publication for the 'IVCA Maximum India Conclave - Singapore'. The report shows how India's private equity and venture capital (VC) sector adeptly navigated a shifting economic and geopolitical landscape over the past three years. It remained resilient despite significant disruption, emerging stronger with larger, more effective funds focused on identifying high-quality deals. Global macroeconomic challenges impact private equity and VC deal value in India 2021 was a watershed year for India's private equity and VC players. Fuelled by strong tailwinds such as a global public market rally and historically low interest rates, the industry reached unprecedented heights. In contrast, there was a sharp drop in activity in 2022 primarily due to growing global macroeconomic challenges. As a result, aggregate deal value saw a sharp drop of 42% from a record $60bn in 2021 to $35bn in 2022. Meanwhile, fundraising remains strong. In 2022, 70 India-focused private equity and VC funds closed, raising an aggregate $8.5bn, which is the highest ever annual fundraising value. Investors demonstrate changing sectoral preferences Defensive sectors such as healthcare and energy & utilities have shown growth in India, diverting investment attention away from traditionally popular sectors like IT. Private equity and VC deals in IT experienced a sharp decline, plummeting from an aggregate value of $26.3bn in 2021 to $8.3bn in 2022. This slowdown has continued this year, with IT deal value shrinking to $1.7bn in the first seven months of 2023. More investors, local and global, seek quality assets As private equity and VC players in India navigate uncertain market times, there has been a fundamental shift in their investment approach. They are increasingly focusing on fewer, higher-quality assets and driving value creation within their portfolios. This is healthy for the ecosystem and will likely lead to the creation of robust businesses that can stand the test of time. The annual number of funds closing has more than tripled over the last decade. GPs in India are also raising and closing larger funds, with the average fund size almost doubling from $72.3mn in 2013 to $121.4mn in 2022. Rajat Tandon, President of IVCA says, "Amidst global economic challenges, India's private equity and VC sector has demonstrated remarkable resilience, positioning itself as the third largest destination for private investment in terms of deals value. Furthermore, looking at data of nine years, India's exit market has undergone significant deepening and diversification over the years, with aggregate exit value nearly quadrupling and more LPs discovering more accessible pathways. This transformative phase in the Indian investment landscape is characterized by changing sectoral preferences and a growing focus on quality assets, marked by a surge in fundraising, larger funds, and more efficient capital deployment. These developments foreshadow a promising future for our ecosystem, nurturing the growth of enduring businesses." Harsha Narayan, Managing Editor, and lead author of the report at Preqin, says "As private equity and VC players in India navigate these uncertain times, there has been a fundamental shift in their investment approach. These investors are increasingly focusing on fewer, higher-quality assets and driving value creation within their portfolios." Additional key findings from Private Equity and Venture Capital in India 2023: Preqin Territory Guide include: AUM: India-focused private equity and VC AUM reached $68bn by the end of December 2022. Dry powder: Private equity dry powder levels grew from $4.8bn to $5.8bn in 2022, while VC dry powder jumped from $6.3bn to $9.8bn. Sector: There was a 68% drop year-on-year in private equity and VC deal value in India's IT industry, the most affected sector, by the end of December 2022. About Preqin Preqin, the Home of Alternatives™, empowers financial professionals who invest in or allocate to alternatives with essential data and insight to make confident decisions. It supports them throughout the entire investment lifecycle with critical information and leading analytics solutions. The company has pioneered rigorous methods of collecting private data for almost 20 years, enabling more than 200,000 professionals globally to streamline how they raise capital, source deals and investments, understand performance, and stay informed. For more information visit www.preqin.com. About IVCA Indian Venture and Alternate Capital Association (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to support the ecosystem by facilitating advocacy discussions with the Government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA members are the most active domestic and global VCs, PEs, funds for Infrastructure, Real Estate, Credit funds, Limited Partners, Investment Companies, Family offices, Corporate VCs and Knowledge Partners. These funds invest into emerging companies, venture growth, buyout, special situations, distressed assets, credit & venture debt among others. For more information visit https://www.ivca.in/
LONGi signs LOI to foster sustainable development in Indonesia
JAKARTA, Indonesia, Sept. 21, 2023 /PRNewswire/ -- From September 6th to 8th, the 43rd ASEAN Summit and the 26th ASEAN-China Summit were held in Jakarta. During these events, four proposals were presented to build a stronger ASEAN-China community with a shared future. As part of the sustainable development segment of the summit, LONGi was invited to participate in the Indonesia Sustainable Development Forum and engaged in in-depth discussions with local government officials, multinational organizations, enterprises, civil society organizations, and associations on key driving factors and opportunities for decarbonization and sustainable economy. LONGi has signed a Letter of Intent (LOI) with strategic partners PT Adaro, PT Medco, and PT Energi Baru TBS to supply advanced modules for multiple projects in Indonesia. Utilizing LONGi's manufacturing expertise, the partners aim to enhance power generation capabilities and meet customer needs. Furthermore, LONGi will explore local solar module production facilities and participate in Singapore's EMA 4GW electricity procurement project through the INSPIRA consortium, a collaboration formed by the three strategic partners to export green energy to ASEAN countries. Frank Zhao, LONGi's Head of Asia Pacific, expressed his pride in partnering with PT Adaro, PT Medco, and PT Energi Baru TBS, highlighting the strong mutual trust between the companies. Their shared goal is to support Indonesia's energy transition, and LONGi will continue to provide affordable, high-efficiency, and reliable photovoltaic modules. During a high-level roundtable discussion at the forum, Frank shared his insights on energy transformation. He emphasized the global concern regarding climate issues and the decreasing cost of renewable energy as driving forces behind the energy transition. LONGi firmly believes that photovoltaics will play a pivotal role in the long-term "dual carbon" strategy, and through technological innovation and cost reduction, they are committed to making solar energy accessible to all. Despite the fact that coal and oil account for over 70% of the country's energy supply, the Indonesian government acknowledges the transformative potential of solar photovoltaic power generation and plans to add a substantial 66 GW of solar capacity by 2030. LONGi is committed to dedicating substantial resources and working closely with strategic partners to unlock the prospects offered by this promising market. About LONGi Founded in 2000, LONGi is committed to being the world's leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation. Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com/en