Linkind by AiDot Launches ET6 Smart TV Backlights in Walmart Stores Nationwide
Global Sae-A Group Completes Construction of 36,000-Spindle Third Spinning Mill in Costa Rica
PAAMC HK Honored with 3 Esteemed IAMAC Recommendations
MIND GAMES UNVEILS PERFUMER EXTRAORDINAIRE
MALAYSIAN INTERNATIONAL FURNITURE FAIR SET FOR BUMPER LAUNCH OF 2025 ASIA BUYING SEASON
136th Canton Fair to Boost Global Trade with New Records in Exhibitors and Activities
The 136th Canton Fair Global Promotion Events Successfully Held, Paving the Way for New International Market Opportunities
JULIEN'S AUCTIONS ANNOUNCES "UNDER DURESS: THE BANKSY ARCHIVE OF STEVE LAZARIDES AUCTION"
Xinhua Silk Road: Annual Conference of Financial Street Forum 2024 to kick off in Beijing
QNB Unifies Its Brand to Enhance Global Presence
-
LG Electronics Partners with BillEase to Offer 0% Installment Plans on LG Products
MANILA, Philippines, Oct. 14, 2024 /PRNewswire/ -- LG Electronics Philippines, a global leader in consumer electronics, has teamed up with BillEase, a top digital finance app, to offer 0% interest installment plans on their official online store. Through this partnership, LG customers can now enjoy flexible payment options, including 3- or 6-month installment plans with no interest, as well as extended terms of up to 12 months for all LG products. The LG-BillEase partnership offers several key features designed to benefit consumers. Customers can take advantage of real 0% interest plans on 3- or 6-month installment options, providing a truly cost-effective way to purchase LG products. For those needing more time, the partnership offers flexible payment terms, allowing shoppers to extend their 3- or 6-month payment plans to as long as 12 months. This flexibility ensures that customers can choose a payment schedule that best fits their financial situation. New customers will appreciate the quick approval process, with a fast and easy sign-up that provides approval in just a few minutes. This streamlined approach minimizes wait times and allows customers to complete their purchases swiftly. Additionally, eligible buyers can purchase their preferred LG electronics without any upfront payment, as no down payment is required. This feature makes it even easier for consumers to access LG's high-quality products without immediate financial strain. Kurt Molina, Head of Merchant Products at BillEase, shared, "We're thrilled to collaborate with LG Electronics to bring these convenient installment plans to Filipino consumers. This partnership underscores our mission to empower both businesses and customers with financial solutions that enhance accessibility and affordability." LG Philippines' Managing Director, Nakhyun Seong added, "At LG, we are committed to bringing high-quality electronics to every Filipino home. By partnering with BillEase, we're able to offer more flexible and hassle-free payment options, allowing more consumers to enjoy our cutting-edge technology without the financial burden." The partnership between LG Electronics and BillEase comes at a crucial time for the Philippine e-commerce market. With the digital economy experiencing unprecedented growth, online shopping has become an integral part of consumers' lives. According to recent industry reports, the Philippines' e-commerce sector is projected to grow by 15% annually through 2025, driven by increasing internet penetration and smartphone usage. This collaboration not only aligns with the shifting consumer preferences toward online purchases but also addresses the growing demand for flexible payment solutions. By offering installment plans, LG and BillEase are making high-quality electronics more accessible to a broader segment of Filipino consumers, thus playing a significant role in driving digital inclusion and economic growth in the country. LG products are now available for purchase with BillEase installment options on LG's official website. Visit https://www.lg.com/ph to explore this exclusive offer. About BillEase BillEase is a leading consumer finance app in the Philippines. The company leverages machine learning and AI to build financial products while mixing traditional global best practices in credit underwriting to meet the needs of its customers. BillEase offers personal loans, e-wallet top-ups, prepaid load, gaming credits, bill payment, and a unique buy now, pay later (BNPL) that offers competitive interest rates and deals from over 10,000 merchants and over 600,000 QRPh-accepting merchants. For more information, visit https://billease.ph/. About LG LG Electronics Philippines delivers top-of-the-line consumer electronics and home appliances that prepare Filipinos for their greatest moments. LG promises to bring "Innovation for a Better Life" nationwide, and their products are available via https://www.lg.com/ph/. For more information, visit and follow their social media channels on Facebook, Instagram, TikTok, and YouTube (@lgphilippines). For more information about this press release, please contact us at marketing@billease.ph.
-
Cathay Financial Holdings Marks Third Consecutive Year at World Biodiversity Summit During Climate Week NYC, in Conjunction with UNGA 79
Taiwan's Sole Signatory of the 'Valuing Water Finance Initiative' TAIPEI, Oct. 14, 2024 /PRNewswire/ -- During Climate Week NYC, Sophia Cheng, the CIO of Cathay Financial Holdings, shared her insights at the iconic World Biodiversity Summit by contributing to the session "Valuing Natural Capital: Creating Markets for Nature" on 26 September 2024. Cheng discussed the role of corporations in driving nature-positive investments, emerging trends, and actionable strategies. She was also invited by Ceres (Ceres Valuing Water Finance Initiative) as Taiwan's sole representative to speak on "Building Corporate Climate Resilience through Water Resource Management." It's also been the third consecutive year that Cathay FHC has participated in Climate Week NYC, further demonstrating its global influence and Taiwan's financial sector's commitment to promoting nature-positive growth. Cathay Financial Holdings participated in Climate Week NYC for the third time, showcasing its international influence and highlighting Taiwan's financial sector's commitment to nature-positive growth. (credit: Cathay FHC) In her speech, Cheng emphasized the urgent need for increasing capital to support nature-positive initiatives, citing Bloomberg[1] research, which estimates that USD 166 billion is allocated annually to biodiversity conservation and restoration. However, this is five times less than the estimated USD 996 billion per year required by 2030 in the same report. Cheng urged, "We need more resources invested in sustainable supply chains, impact investing, and ecosystem building to expand the biodiversity market." She pointed out that out of the 416 organizations from 51 countries that have adopted the TNFD (Taskforce on Nature-related Financial Disclosures), 45% are from Asia. Cheng believes this signals that Asian companies are eager to engage in more nature-positive initiatives once global frameworks become clearer. Recognizing the complexity of biodiversity and nature-related sectors, Cheng suggested that a global biodiversity project platform should be established. This platform would match diverse funding sources with nature projects across various risk profiles while setting consistent standards, such as developing market rules for biodiversity credits, to enhance market efficiency and stability. At the same time, more market participants need to see successful examples. She highlighted World Bank's "Rhino Bond," which links bond yields to the success of rhino conservation efforts. This initiative has already contributed to an 8% increase in the black rhino population, delivering dual benefits for both biodiversity and investors. Throughout the discussions at Climate Week NYC, Cheng expressed concerns over the general lack of attention to biodiversity loss, a sentiment echoed by fellow panelists. To encourage the audience, the panelists adopted a positive and proactive stance, emphasizing the promising outlook for biodiversity. They highlighted practical measures such as the construction of the Global Biodiversity Framework, the rise of biodiversity credit schemes, the continuous development of technologies like AI, and numerous transnational collaborations aimed at promoting nature-positive growth. The notion "with great power comes great responsibility" emerged as a central theme, with both public and private sectors being urged to collaborate in building a larger, more impactful market that integrates biodiversity. As Cheng concluded, she stressed that "everyone can influence a stakeholder, and the more we engage, the more successful natural investments will be." At the Ceres Water Resources Forum, Cheng further emphasized the critical importance of water resources, quality, and stability for both human life and global ecosystems. She shared that, in addition to improving water efficiency in its operations, Cathay FHC and its subsidiaries analyze companies in their investment and financing portfolios with high water resource risks. This includes integrating water governance performance in industries such as semiconductors, power, and food into Cathay's water resource investment management and engagement strategies. Cheng also praised Taiwan's high-tech industries for their proactive responses to water-related risks and encouraged broader efforts in water governance, moving from targeted projects to more comprehensive strategies to avoid greenwashing risks. Cathay FHC continues to lead with innovative financial models that promote nature-positive outcomes. As the only Taiwanese financial institution to sign the "Valuing Water Finance Initiative", Cathay FHC has invested in and provided loans to water resource sector, including water treatment, water supply, and wastewater management. Cathay Life Insurance, one of Cathay FHC's subsidiaries, as the first financial institution in Taiwan to join Nature Action 100, collaborated with 190 international institutional investors in 2023 to engage 100 companies in industries such as food, chemicals, forestry, and pharmaceuticals—sectors significantly impacting natural habitats and biodiversity loss. These engagements urged companies to take proactive measures to protect and restore natural ecosystems. Cathay FHC has observed the rise of nature-themed asset management and insurance products, along with promising blended finance models that appropriately value ecosystem services, thereby attracting more investments. Cheng concluded by expressing hope for continued public-private sector collaboration in achieving nature-positive goals and overcoming financial barriers. [1] Biodiversity Finance Factbook: https://assets.bbhub.io/professional/sites/24/Biodiversity-Finance-Factbook_COP28-Edition.pdf Sophia Cheng, Chief Investment Officer of Cathay Financial Holdings, participated as a panelist at the World Biodiversity Summit, held during 2024 Climate Week NYC, where she discussed corporate leadership in driving nature-positive growth, along with emerging trends and actionable strategies. (Credit: Cathay FHC)
-
X3 Holdings Receives Extension to Regain Compliance with the Nasdaq's Minimum Bid Price Requirement
SINGAPORE, Oct. 12, 2024 /PRNewswire/ -- X3 Holdings Co., Ltd. (Nasdaq: XTKG) (the "Company" or "XTKG"), a global provider of digital solutions and technology services spanning diverse industries, today announced that it has received an extension of 180 calendar days from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") to regain compliance with the Nasdaq's minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market (the "Bid Price Requirement"). As a result of the extension, the Company has until April 7, 2025, to regain compliance with the Bid Price Requirement. To regain compliance, the closing bid price of the Company's ordinary shares must be at least US$1.00 for a minimum of 10 consecutive business days prior to April 7, 2025. Nasdaq would then provide a written confirmation of compliance and the matter will be closed. To address this issue, the Company intends to continuously monitor its closing bid price and to effectuate a reverse stock split, subject to the shareholders' approval at the annual general meeting, which will be convened on November 4, 2024. Upon the approval and completion of the reverse stock spilt, the Company expects that it will countervail the short-term adverse effects on its trading price and cure the deficiency in due time as well as regain compliance with the Bid Price Requirement. The receipt of the extension period has no immediate effect on the listing or trading of the Company's business operations or the listing of the Company's ordinary shares, which will continue to trade uninterrupted on the Nasdaq under the ticker "XTKG". About X3 Holdings X3 Holdings Co., Ltd. (Nasdaq: XTKG) is a global provider of digital solutions and technology services spanning diverse industries. The Company is operating across diversified business segments in digital technologies, cryptomining operations, renewable energy and agriculture technologies. X3 Holdings is headquartered in Singapore with subsidiaries and operations globally. For additional information, please visit www.x3holdings.com. Safe Harbor Statement This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements include, among others, statements regarding the Company's plans to regain compliance with the minimum bid price requirement. The Company's actual results may differ materially from those expressed in any forward-looking statements as a result of various factors and uncertainties. The reports filed by the Company with the Securities and Exchange Commission discuss these and other important factors and risks that may affect the Company's business, results of operations and financial conditions. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For more information, please contact: Corporate Investor RelationsEmail: ir@x3holdings.comWebsite: www.x3holdings.com
-
Oneisall Will Bring Smart Pet Accessories to Day of the Dog Festival in San Diego
Catch Oneisall in action as they empower pet owners to keep their furry friends happy and healthy this Fall and Winter LOS ANGELES, Oct. 12, 2024 /PRNewswire/ -- Calling all dog lovers! Oneisall, the brand that's passionate about making pet care smarter, easier, and a whole lot more fun, is wagging its way to the Day of the Dog festival in San Diego. This October 13th, join us for a tail-wagging good time as we showcase our latest tech-driven pet accessories that are perfect for keeping your fur-babies cozy, happy, and healthy during the fall and winter months! At Oneisall, we know pets aren't just animals—they're family. That's why we design pet products that make life easier for both pets and their humans. Whether you're at home or on the go, our smart accessories are here to ensure your pets are cared for with precision, love, and a sprinkle of innovation. From our automatic feeders that know when your pet needs their next snack to our grooming essentials that keep your pup looking fabulous, we've got all your pet care needs covered. Oneisall smart pet devices are designed to reduce pet care stress and provide convenience for busy pet owners. For example, the Oneisall Cozy C1 is a pet grooming vacuum that offers efficient fur collection while brushing or clipping pets, making grooming less messy. Oneisall's smart pet feeder features programmable settings to automate pet feeding, ensuring timely meals when owners are away. Oneisall's smart water fountain promotes hydration by providing fresh, circulating water with filtration, encouraging pets to drink more regularly. What to Expect at the Day of the Dog Festival: Smart Feeding Systems – Keep your pets fed on time, every time. Our intelligent feeders let you manage your pet's meals with ease—even if you're busy with your own holiday feasts! Cozy Winter Essentials – As the weather cools down, our pet care solutions will warm your heart (and your furry friend's paws!). Our grooming kits and cozy accessories are designed to keep pets comfy and looking their best for all those family holiday photos. Hands-On Demos – Get up close and personal with our pet-friendly tech! Test out our easy-to-use products and see how they simplify everything from feeding schedules to grooming routines. Join Oneisall in San Diego for the Day of the Dog festival on October 13th. Discover smart pet care solutions like the grooming vacuum, smart feeder, and water fountain designed to make caring for your pets easier. Don’t miss hands-on demos and a chance to win a smart pet accessory for your furry friend! Join Us and Celebrate All Things Dog!The Day of the Dog festival is the perfect event to spend quality time with your four-legged friends and discover products that make caring for them easier than ever. Whether you're a seasoned pet parent or just welcoming a new fur-baby into the family, Oneisall is here to help you tackle pet care like a pro. Plus, with the busy holiday season approaching, we'll be sharing tips on how to care for your pets throughout the colder months while keeping them happy, healthy, and most importantly—spoiled! To win the Oneisall "Dog of the Day" giveaway raffle, simply take a photo at Oneisall's booth (preferably with Oneisall products), post it on Instagram tagging and following @oneisall_official, and you'll get a chance to spin the wheel and win a smart pet product. Additionally, you can enter an online giveaway by uploading your pet's photo to the Oneisall website for another chance to win. So mark your calendars, grab your pup, and come say hi at our booth! Let's celebrate the joy pets bring to our lives and show them a little extra love with Oneisall's smart, thoughtful solutions. For more information about our innovative pet products, visit us at oneisall.com. About Oneisall: As the world's leading brand in smart pet products, we are passionate about creating smarter, more connected experiences for pet owners and their beloved companions. Our range of pet accessories blends advanced technology with user-friendly design, empowering you to care for your pets effortlessly, whether you're at home or on the go. We understand that pets are family, and our goal is to offer products that ensure their happiness, health, and well-being. Guided by a commitment to innovation and quality, Oneisall designs with both pets and their humans in mind—offering solutions that are sleek, reliable, and tailored to the needs of today's fast-paced, tech-driven lifestyles. From smart feeding systems to pet grooming essentials, we aim to provide pet owners with peace of mind, knowing their pets are always cared for with precision and love.
-
Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024
Total revenues increased to US$13.1 million, representing 13.8% year-over-year growthNet income reached US$4.4 million, representing 85.8% year-over-year growth GUANGZHOU, China, Oct. 11, 2024 /PRNewswire/ -- Baird Medical Investment Holdings Ltd. (NASDAQ: BDMD) ("Baird Medical" or the "Company"), a leading microwave ablation ("MWA") medical device developer and provider in China which has recently expanded into the U.S. market following its receipt of US FDA 510(k) clearances, today announced its preliminary financial results for the six months ended June 30, 2024 (the "First Half of 2024"). First Half of 2024 Financial Highlights Total revenues reached US$13.1 million, representing an increase of 13.8% from US$11.5 million in the same period of 2023. Gross profit increased by 20.9% to US$11.5 million from US$9.5 million in the first half of 2023. Operating income was US$5.1 million, representing an increase of 70.0% from US$3.0 million in the same period of 2023. Net income increased by 85.8% to US$4.4 million from US$2.4 million in the first half of 2023. Ms. Haimei Wu, Founder and CEO of Baird Medical, commented, "Our preliminary results for the first half of 2024 reflect the continued strength of our core business in China and the initial traction we're gaining in the U.S. market. With our recent FDA clearances, we are optimistic about expanding our reach in the United States, where our minimally invasive microwave ablation technology offers a promising alternative to traditional thyroidectomy for patients with benign thyroid tumors. Given that approximately 150,000 thyroidectomies are performed annually in the U.S., we believe there's a substantial opportunity to improve patient outcomes and reduce healthcare costs. As we move forward, we remain committed to innovation and expanding access to our technology, while maintaining a disciplined approach to growth and operational efficiency." Recent DevelopmentsOn October 1, 2024, the Company announced the completion of its previously announced business combination (the "Business Combination") with ExcelFin Acquisition Corp. The listed company resulting from the Business Combination is Baird Medical Investment Holdings Limited, and its shares and warrants commenced trading on the Nasdaq under the ticker symbols "BDMD" and "BDMDW", respectively, on October 2, 2024. About Baird MedicalEstablished in 2012 and headquartered in Guangzhou, China, Baird Medical is a leading microwave ablation ("MWA") medical device manufacturer and provider in China and a recent entrant to the United States market. Baird Medical's proprietary medical devices are used for the treatment of benign and malignant tumors including thyroid nodules, liver cancer, lung nodules and breast lumps. Baird Medical is the first company to obtain a Class III medical devices registration certificate for MWA medical devices specifically indicated for thyroid nodules in China. For more information, please visit http://www.bairdmed.com/. Forward-Looking StatementsThis communication contains "forward-looking statements." Such statements include statements concerning anticipated future events and expectations that are not historical facts. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are typically identified by words such as "believe", "expect", "anticipate", "intend", "target", "estimate", "continue", "positions", "plan", "predict", "project", "forecast", "guidance", "goal", "objective", "prospects", "possible" or "potential" by future conditional verbs such as "assume", "will", "would", "should", "could" or "may" or by variations of such words or by similar expressions or the negative thereof. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Baird Medical does not assume any obligation to publicly update any forward-looking statement after it is made, whether as a result of new information, future events or otherwise, except as required by law. ContactsInvestor RelationsRobin Yang, PartnerICR, LLCPhone: +1 (646) 308-1475Email: BairdMedical.IR@icrinc.com Public RelationsBrad Burgess, Senior Vice PresidentICR, LLCPhone: +1 (646) 588-0383Email: BairdMedical.PR@icrinc.com
-
OCI to Close Divestment of Controlling Stake in Fertiglobe
AMSTERDAM, Oct. 11, 2024 /PRNewswire/ -- OCI Global (Euronext: OCI) ("OCI") today announced that the divestment of OCI's 50% + 1 share stake in Fertiglobe (ADX: FERTIGLB) ("Fertiglobe") to Abu Dhabi National Oil Company P.J.S.C. ("ADNOC") disclosed in December 2023, has received all required approvals and is expected to close on Tuesday 15 October 2024. Ahead of closing, a block trade will be initiated today, 11 October 2024 and is expected to settle on Tuesday 15 October 2024. Following the completion of the transaction, ADNOC's shareholding in Fertiglobe will increase to 86.2% while the free float traded on the Abu Dhabi Securities Exchange (ADX) will remain at 13.8%. Contact Details: Sarah Rajani CFA, Vice President Investor Relations & CommunicationsEmail: sarah.rajani@oci-global.com Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn.
-
Vantage Markets Adds Another Feather to its Cap: Wins Best Forex Affiliate Program at Global Brand Awards 2024
PORT VILA, Vanuatu, Oct. 11, 2024 /PRNewswire/ -- Multi-asset broker Vantage Markets ("Vantage") has extended its winning streak with yet another prestigious accolade: the Best Forex Affiliate Program award at the Global Brand Awards 2024. Vantage Markets Adds Another Feather to its Cap: Wins Best Forex Affiliate Program at Global Brand Awards 2024 This latest recognition adds to the company's impressive track record. Earlier this year, Vantage clinched the coveted title of Best CFD Broker for 2024, solidifying its position as a leader in the Contract for Difference (CFD) trading industry. With a thriving global network of over 20,000 active affiliates and introducing brokers (IBs), Vantage is renowned for its highly competitive and flexible commissions and rebate structures. The company's partner platforms - CellXpert and Next-Gen IB portal - provide a comprehensive suite of educational and marketing resources, empowering affiliates and IBs to expand their networks while offering vital support to their clients. This recognition is not the first for Vantage's partnerships program. Previous accolades include the "Best Introducing Broker Program MENA 2023" and the "Best Affiliate Program LATAM 2023" awards at the International Business Magazine Awards. Vantage was also honoured with the "Best Forex Affiliate Program, Global 2023" and "Best Affiliate Program, Global 2023" titles by Global Brands Magazine, further validating its commitment to excellence. Marc Despallieres, Chief Strategy & Trading Officer at Vantage, said, "We are thrilled to receive the Best Forex Affiliate Program award at the Global Brand Awards 2024. This recognition is a testament to our team's relentless dedication to delivering excellence, unparalleled support and value to our partners." "With our focus on transparency, reliability, and client satisfaction, Vantage remains committed to empowering traders and affiliates alike with the tools and resources they need to navigate the financial markets with confidence and success." For more information about Vantage Markets and its award-winning Forex Affiliate Program, please visit partners.vantagemarkets.com. About Vantage Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds. With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play. trade smarter @vantage RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.
-
Waterdrop Inc. Released 2023 ESG Report: Adhere to both Sci-tech Innovation and Social Responsibility
BEIJING, Oct. 11, 2024 /PRNewswire/ -- Waterdrop Inc. released its Environmental, Social and Governance (ESG) Report 2023 ("the Report") in October. The Report details Waterdrop Inc.'s efforts in a number of key areas such as corporate governance, technology and innovation, inclusive protection and social responsibility, showcasing its ESG achievements in 2023 to the public. Due to its progress in ESG management, practices and information disclosures in 2023, the ESG rating score jumped to "A", placing it among the industry leaders for the first time. Over the past year, Waterdrop Inc. has innovated and explored various ESG areas. In terms of sci-tech innovation, the company continued to explore the application of big data, AI and blockchain technologies in the industry value chain. Regarding social responsibility, Waterdrop Inc. focused on critical illness relief and continued to support the elderly, rare disease patients and other special groups, and leveraged its product and technological advantages to help build an inclusive society. In environmental protection, the company actively responded to the "dual carbon" strategy, advocated green offices, reduced operational carbon emissions, and became a member of the Private Enterprises Green and Low Carbon Development Alliance. "Waterdrop Inc. is committed to providing the public with quality and inclusive insurance and health service solutions, actively practicing the concept of sustainable development, and continuously deepening the integration of corporate strategy and social responsibility. These commitments and actions are the top priorities of our ESG practice." Shen Peng, Founder and Chief Executive Officer (CEO) of Waterdrop Inc., emphasized this in the Report. Commitment to Sci-tech Innovation: RMB 299 Million Invested in R&D in 2023. "Developing new quality productive forces is an intrinsic requirement and an important focus of promoting high-quality development, and we need to continue to well leverage innovation to speed up the development of new quality productive forces." The Report reveals that the R&D investment of Waterdrop Inc. reached RMB 299 million in 2023. The company aims to apply emerging digital technologies to its products and services, continuously improving efficiency and providing users with higher-quality service. In 2023, Waterdrop Inc. deployed the "Waterdrop Guardian" large language model, specifically designed for the insurance sector. This model covers a variety of business scenarios, including consulting, underwriting, and claims settlement. To enable autonomous real-time communication with users and improve interaction efficiency, Waterdrop Inc. also developed an "AI Insurance Consultant". Additionally, the company developed Waterdrop Insurance Marketplace claims service system "Waterdrop Insurance Marketplace•Bangbang", creating a comprehensive claims assistance framework that helps users with "online claim applications, claim material reviews, notification and conclusion interpretations, and claim dispute mediation." As of 31 December 2023, the coverage rate of claims interpretation using "AI + manpower" function reached 99%. Waterdrop Inc. places high importance on the application and protection of innovation outcomes. The company strictly adheres to relevant laws and regulations such as the Patent Law of the People's Republic of China, and the Trademark Law of the People's Republic of China, continually improving the Group's intellectual property management system. In 2023, Waterdrop Inc. obtained 38 authorized patents, 132 registered trademarks and completed 20 copyright registrations. The company also successfully passed the qualification review of "National Intellectual Property Advantage Enterprise" and was included in Beijing's first batch of "Demonstration Base for Trade Secret Protection". Embracing Social Responsibilities: Contributing to the Multi-tiered Medical Protection System To address critical illness assistance challenges, Waterdrop Inc. leverages its industry insights and product and technology advantages to innovate and explore solutions in this field. Utilizing multiple platforms such as Waterdrop Medical Crowdfunding and Waterdrop Charity Platform, the company collaborates with social forces to help improve the multi-tiered medical protection system and promote high-quality development of medical security. In 2023, as a member organization, Waterdrop Inc. actively participated in the construction of multi-tiered medical protection systems such as "Jin Qing Bang" and "Hai Hui Bang". By the end of 2023, 1,003 patients had applied for assistance through the "Hai Hui Bang" platform, with the total amount of multi-level medical assistance reaching RMB 13.663 million. The "Jin Qing Bang" application achieved medical service usage monitoring for the entire population within Jinyun County, Zhejiang Province. It conducted 5.2 million automatic screenings, identified 13,000 patients with high out-of-pocket medical expenses, and facilitated social participation in relief funds totaling RMB 11.676 million. Waterdrop Inc.'s involvement in the multi-tiered medical protection system was featured as an exemplary case in the Blue Book of Medical Protection (2023) and won the 2023 Public Welfare Project of the 8th China Public Welfare Annual Meeting, among other accolades, providing valuable insights for the development of national multi-tiered medical protection system. Waterdrop Inc. continues to expand the availability of the Rural Revitalization Insurance. In June 2023, the company donated Waterdrop Rural Revitalization Insurance to 1,471 villagers in Zhongtanbao Village, Yingxiu Town, Wenchuan County, Sichuan Province, with a total sum insured of RMB 280 million. Furthermore, by the end of 2023, the "Waterdrop Rural Clinics" initiative had established 139 rural clinics across 12 provinces, including Xinjiang, Sichuan, Shandong, Fujian, Guizhou, Yunnan, etc., benefiting more than 500,000 people. In 2023, as charity-related laws and regulations continued to improve, the Waterdrop Inc., designated as an internet-based public fundraising information platform by the Ministry of Civil Affairs, collaborated with 41 charitable organizations and launched 322 public welfare projects. The platform actively works to create a more transparent, efficient, and targeted internet charity ecosystem, valuing and protecting every act of kindness from hundreds of millions of philanthropists. Since its establishment, Waterdrop Inc. has placed a high emphasis on fulfilling its social responsibility and integrating sustainable development into the company's corporate genes. Over the past year, while developing its business, Waterdrop Inc. has actively assumed corporate social responsibilities, implemented the principle of sustainable development, and taken practical actions to foster harmonious coexistence among the enterprise, society, and the environment. Looking ahead, Waterdrop Inc. will continue to uphold its entrepreneurial spirit and pursue high-quality development, giving back to society and aligning its growth with national strategies and the industry's progress. CONTACT: Bin Hou, houbin11@shuidi-inc.com
-
UOB announces collaborations with Institutes of Higher Learning and industry partners at Better U to drive job transformation
The Bank launches Better U Pivot programme for career transitions; Centre of Excellence to grow AI and Data Analytics talent SINGAPORE, Oct. 11, 2024 /PRNewswire/ -- UOB is partnering with Institutes of Higher Learning (IHLs) and industry partners to launch an industry-first comprehensive structured 12-month programme with customised learning paths and coaching to support colleagues' transition into new roles within the Bank. Coined as the Better U Pivot programme, this is one of the key initiatives announced today at UOB's annual employee festival, Better U. As part of its employee upskilling and reskilling programme, UOB also launched the Artificial Intelligence (AI) and Data Analytics Centre of Excellence (AIDA CoE), a joint collaboration with the Infocomm Media Development Authority (IMDA) and National University of Singapore (NUS). The programme aims to accelerate the development of AIDA professionals for the finance sector. Graced by Minister for Manpower Tan See Leng, the Better U Festival, in its sixth edition this year, underscores UOB's commitment to building colleagues' future-readiness and adaptability amid the rapidly evolving financial sector. Mr Dean Tong, Head of Group Human Resources at UOB, said, "The launch of Better U five years ago has solidified our commitment to building our own timber, and also accelerated the development and implementation of holistic training programmes to nurture growth mindset, digital awareness, and other essential soft skills for all our people." "Our successes and failures through the years of experimenting have furnished us with insights on what methodologies are effective in augmenting our employees' growth and pitfalls to avoid. We are continually enhancing our support system and programmes to help our colleagues pivot their careers at scale, from areas of low growth to high growth, to remain relevant and achieve sustainable careers. That is the essence of our Better U Pivot programme. This, together with the AIDA CoE, represents a significant step forward in our journey of continuous learning and development, ensuring our team is well-equipped to meet the shifting demands of the industry." Pivoting colleagues into future-ready roles Reskilling and upskilling to stay relevant continues to be the foremost concern for Singapore workers, according to UOB's ASEAN Consumer Sentiment Study 2024[1]. Over nine in 10 respondents shared this as their top challenge, a slight inch up compared to 2023. Fully cognisant of employees' concerns, UOB is providing robust training programmes to cater to their urge to stay relevant and to pursue their professional goals. The Better U Pivot programme was officially launched at Better U with the signing of a Memorandum of Understanding (MOU) between UOB, Ngee Ann Polytechnic (NP), National University of Singapore (NUS), Institute for Adult Learning (IAL) and the Institute of Banking & Finance (IBF). The Better U Pivot programme is an industry-leading holistic job transformation initiative, providing in-depth skills analysis and customised programmes to reskill employees through the Career Conversion Programme (CCP) in partnership with IBF and Workforce Singapore. The Pivot programme was first piloted in 2021 with initial participants now successfully operating in their new roles. The new "upgraded" programme rides on the Bank's previous learnings, with expanded components to enhance the robustness of the programme. By collaborating with IHLs, UOB is not only investing in its employees but is also playing a key role in the larger industry's shift towards job transformation in growth areas such as risk and compliance, sales and customer experience. The programme aims to reskill up to 500 employees, including regional colleagues, over two years, starting from the fourth quarter of 2024. Selected participants will undergo a 12-month structured curriculum designed to equip them with new skills that align with growth areas in UOB. Designed together with NP, selected participants will benefit from customised learning paths, including structured on-the-job training and upskilling opportunities personalised to each colleague. They will also receive close mentorship from designated coaches and hiring managers, who will provide guidance and wellness support as colleagues adjust to their new roles. Scaling deep AI and data analytics capabilities within the financial sector As the financial sector is constantly being reshaped by new technologies like AI and data analytics, developing a talent pool with deep expertise in this area is a growing priority. To address this rising demand, UOB has partnered with IMDA and NUS to launch the AIDA CoE. This initiative stems from an MOU signed by the AIDA Talent Consortium in 2023, comprising the Monetary Authority of Singapore, financial institutions including UOB, IHLs and training providers, committing to building AI capabilities within Singapore's financial sector. Through IMDA's Company-Led Training Programme under the TechSkills Accelerator (TeSA) initiative, the partners are committed to building AI capabilities via certifiable AI skilling, on-the-job training, and job placement opportunities to support the AIDA CoE. This programme adds on to the Bank's existing curriculum suite, such as the Technology Development Programme and Technology in Finance Immersion Programme, to develop AIDA and tech talents across different fields of specialisation. The AIDA CoE targets to take in 100 university graduates over the next three years, with applications opening from this quarter. Participants will join the Bank as full-time employees, gaining access to real-world data and applications as they undergo the two-year programme. In the first 12 months, participants will take part in business-driven AIDA projects, paired with centralised training courses by UOB's Data Management Office and mentorship from senior data practitioners. In the following year, participants will undergo specialised training within UOB business units including Group Retail, Group Technology and Operations, Group Wholesale Bank and Group Finance, scaling their AIDA capabilities across different banking disciplines. Upon completion, participants will be deployed within UOB as Data Scientists, Data Engineers, or AI and Machine Learning Engineers. They will also receive a graduate certificate in Business Analytics Practice, which can be credited towards a Master of Technology in Enterprise Business Analytics with NUS. Participants can also look forward to the dynamic new UOB campus equipped with state-of-the-art facilities in the Punggol Digital District, to be ready by the first quarter of 2027. The AIDA CoE serves as an industry blueprint for adaptation by other financial institutions, in line with the National AI Strategy 2.0. Interested applicants may find more details on the AIDA CoE via https://www.uobgroup.com/careers/early-careers/aida.page. [1] Currently in its fifth year, UOB ACSS analyses consumer trends and sentiments across the region. The 2024 edition was conducted from May to June 2024 and surveyed 5,000 respondents from Singapore, Indonesia, Malaysia, Thailand and Vietnam across different demographic groups. – Ends – About UOB UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world's top banks: Aa1 by Moody's Investors Service and AA- by both S&P Global Ratings and Fitch Ratings. For nearly nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN. The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer's unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
-
GMO Payment Gateway, Inc. Invests USD 3 Million in Helicap's Flagship Credit Fund to Drive Growth of FinTech in Southeast Asia
SINGAPORE, Oct. 11, 2024 /PRNewswire/ -- Helicap Group is proud to announce that GMO Payment Gateway, Inc. (TSE Prime Market Securities Code: 3769, President & CEO: Issei Ainoura), a leading provider of payment and financial-related services under the GMO Internet Group, has made a USD 3 million investment in Helicap's flagship credit fund managed by Helicap Investments Pte Ltd, a regulated subsidiary of the Helicap Group. The investment was executed through GMO-PG's Singapore-based subsidiary, GMO-Z.COM PAYMENT GATEWAY PTE. LTD. A Partnership to Bridge Southeast Asia's Funding Gap In the first half of 2024, FinTech startups in Southeast Asia secured a notable USD 899.3 million in funding, highlighting the region's enduring appeal amidst global economic headwinds.*1 This demonstrates the sector's resilience, fueled by Southeast Asia's strong demand for innovative financial solutions as traditional services evolve to meet modern needs. Helicap, together with its regulated subsidiaries, aims to address the region's USD 500 billion funding gap.*2 This period marks the rise of key players leveraging technology to build scalable, inclusive financial services, solidifying Southeast Asia as a thriving FinTech hub. This latest investment from GMO-PG underscores their commitment to supporting innovative FinTech solutions and aligning with Helicap's vision of driving financial inclusion in underserved markets. Through this partnership, Helicap will continue to empower FinTech companies that are transforming the financial landscape of Southeast Asia, while opening doors to new business opportunities in markets that remain untapped. *1 Tracxn Technologies Limited「FinTech - Southeast Asia Semi Annual Funding Report - H1 2024」 *2 As of 2017 About Helicap Pte Ltd 'Helicap' Helicap is a Singapore-based FinTech firm facilitating private debt opportunities in Southeast Asia. As a group, the goal is to fill a USD 500 billion financing gap that banks are unable to serve and deploy capital to 300 million underbanked through 1,000 originators in the region. Helicap's equity backers include Malaysia's leading independent investment bank, Kenanga Investment Bank Berhad ("Kenanga Group"), Japanese financial services firm Credit Saison, Temasek-backed alternative investments firm Tikehau Capital, integrated Asian financial house PhillipCapital, as well as top VC firms East Ventures, Access Ventures, Voveo Capital, and leading Singapore property group SoilbuildGroup Holdings. Over the last 6 years, Helicap has raised more than USD 15 million in paid-up capital, and via its regulated subsidiaries, has deployed almost USD 400 million worth of capital with its in-house data analytics expertise. By leveraging this advanced data-processing capability, they have indirectly served more than 5 million MSMEs and individuals. Helicap's collaboration with Temasek Trust on Southeast Asia's first Financial Inclusion Report exemplifies the commitment to building a visible, impactful, and integrated ecosystem that prioritizes sustainable and ethical practices. For more information, visit www.helicap.com. About GMO Payment Gateway, Inc. GMO Payment Gateway, Inc. provides payment-related services that support the customer's online and cashless migration and digital transformation (DX). Annual transaction value exceeds 17 trillion yen and its online comprehensive payment services have been adopted by over 150,000 merchants such as EC operators and public institutions of NHK and National Tax Agency, etc. As the leading company in the payment industry, GMO contributes to the advancement and realization of a sustainable society by driving social innovations using payment and financial technology through its services, such as online comprehensive payment service, payment services in the offline market, Buy Now Pay Later (BNPL), BaaS Support services to financial institutions and enterprises and strategic investment and lending to overseas leading-edge FinTech companies. (As of end-June 2024, consolidated figures) For more information, visit: www.gmo-pg.com
-
Arta Finance launches globally via Singapore, unveils Arta AI Copilot, and announces Wealth-as-a-Service for banks
MAS-licensed Arta launches in Singapore and internationally Arta unveils Arta AI Copilot - a number of AI-enhanced experiences on its wealth platform Arta announces partnerships with Wio Invest, Google Cloud, and Capco for its Wealth-as-a-service offering for banks and financial institutions globally Arta welcomes Ralph Hamers as external advisor SINGAPORE, Oct. 11, 2024 /PRNewswire/ -- Fast-growing digital wealth management platform Arta Finance today launched globally. Arta's platform is now open to accredited investors in Singapore and to international investors open to managing their wealth in Singapore - a global wealth hub where an expected 1.6 million non-Singaporeans are expected to manage $4.8 trillion in assets by 2028. The international launch comes after Arta's successful debut in the US in October 2023, where it has since grown to manage hundreds of millions in assets for thousands of clients. Arta's wealth platform offers a curated deal flow that includes private investments from exclusive fund managers, intelligent public market strategies, and innovative structured products, without the sales pressure, opaque pricing and manual processes found in many other financial institutions. Arta's designed-in-Singapore product has various unique features, including support for philanthropic giving in partnership with Co-Axis - a Temasek Trust initiative, a Founding Member community, and even a Singlish setting in its AI Copilot. Arta also launched the first-of-its-kind AI Copilot, purpose-built for wealth management and finance. This patent-pending technology, rolling out progressively to members will empower them to make smarter investment decisions - ideate, analyse, and monitor their portfolios with the tools and insights that usually require large teams of relationship managers, private bankers, and investment analysts. Unlike commonly available AI chatbots or apps, Arta's AI systems are purpose-built for applications in wealth and finance and exploit the reasoning capabilities of the latest large language models. Arta's AI stack employs several models that work in conjunction with each other - including commercially available closed source models, fine-tuned open source LLMs and several custom built AI/ML models created by Arta's researchers. These models have access to high-quality public and proprietary data including large financial and risk data sets for training and inference. This enables Arta to combine the fluency of LLMs with the time sensitivity, hard mathematical rigour and explainability necessary for investment and financial applications. Its AI stack, like the rest of Arta's infrastructure, is highly privacy-preserving and uses encryption at rest and in transit for all user data. Singapore Minister of State for Trade and Industry and MAS board member, Alvin Tan was on hand to help launch Arta in the City State, alongside investors, fund managers, partners, and clients. The company has established key functions in Singapore including engineering, marketing, product, design and operations and a number of its global leads including its CEO are based in Singapore. Commenting on the launch, Arta CEO Caesar Sengupta said: "Arta is at the intersection of some powerful trends, including the personalisation and democratisation of wealth management, the huge growth and opportunity in private market investing, and the use of AI to create capabilities that have previously only been the preserve of the ultra-wealthy. We are now taking a major leap forward with our global launch and can't wait to bring the Arta wealth platform and AI Copilot to the global community in the months and years ahead." Wealth-as-a-service launched with Wio, Google Cloud and CapCo tie ups Arta today also took a major step on its B2B journey with the announcement that Abu Dhabi's Wio Invest would be the first of many financial institutions to integrate the Arta wealth-as-a-service platform into Wio's industry leading digital investment platform, to create a new wealth management offering for its clients in the Middle East, pending regulatory approval. The 'wealth-as-a-service' platform for banks is a new B2B offering by Arta. It was done with support from the venture building team of the Singapore Economic Development Board (EDB), which worked closely with Arta to incubate this offering during the early stages of the concept. This cloud-based platform empowers partner banks to serve their clients better and meet evolving demands with faster time-to-market for innovative wealth management products, services, and technology. Banks can choose from integrating Arta AI Copilot capabilities, to embedding Arta's investment solutions into their platforms, to fully white-labelling the Arta platform — enhancing their digital capabilities and unlocking growth in new wealth segments. To help integrate a cloud and AI native wealth platform into legacy systems at partner banks, Arta is also announcing partnerships with Google Cloud and global management and technology consultancy Capco to provide solutions for banks looking to adopt Arta's technology. Amanda Ong, Singapore Country Director and Head of International Expansion commented: "Singapore is the natural home for Arta's international business with its rising importance as Asia's wealth hub. The launch of the B2B business is an extension of Arta's mission, enabling us to partner with banks and financial institutions in a way that is wholly complementary to their current offering. We are proud to welcome Wio as our launch partner and look forward to growing together." Arta welcomes Ralph Hamers as external advisor Arta also today welcomes Ralph Hamers as an external senior advisor, providing strategic guidance as the company grows internationally. Ralph Hamers is an advisor to established and new players in the global financial sector. He developed a special knowledge in digitalisation of processes and client offerings. Hamers previously was CEO with UBS and ING. Commenting on his role as senior advisor to Arta, Mr Hamers said: "A central focus of my leadership has been to take legacy businesses and digitalise, integrating front-to-back technology to drive efficiencies and make the lives of clients and colleagues easier. This often needs major and multi-year transformations in well-established organisations. With Arta, I see the enormous opportunity of having incredibly smart people from the worlds of technology and finance coming together to build a platform that is more than ready to take its place amongst the world's leading wealth managers." Mr. Hamers becomes part of a distinguished group of early investors in Arta, which includes more than 140 technology and finance leaders, such as ex-Google CEO Eric Schmidt and Mastercard CEO Michael Miebach. The Arta wealth platform is now available globally to all accredited investors on desktop and mobile. Early members will get their first investment up to $100K managed free for life by Arta (terms and conditions apply). To learn more about Arta, please visit artafinance.com Important DisclosuresArta Wealth Management Pte. Ltd. ("Arta") is licensed by the Monetary Authority of Singapore ("MAS") whose products and services are only available to Accredited Investors. Investing in securities involves risk, and there is always the potential of losing money. Certain investments are not suitable for all investors. The content provided herein is for informational purposes only and is not investment or financial advice, tax or legal advice, an offer, solicitation of an offer, or advice to buy or sell or hold securities or investment products. This material has not been reviewed by the Monetary Authority of Singapore. For additional disclosures related to Arta Finance, please visit https://artafinance.com/global/disclosures. About Arta Finance:Founded by ex-Google executives, Arta Finance is a digital wealth platform for the savvy that enables more people to access the "financial superpowers" of the ultra-wealthy. The platform provides access to private market investments from elite fund managers, intelligent public market strategies and structured products, and sophisticated financial services such as insurance and estate planning. Headquartered in the US and Singapore, Arta serves its members directly as well as empowering partner financial institutions to expand wealth management to new clients. Arta is backed by Peak XV, Ribbit Capital, Coatue, EDBI, and over 140 luminaries in tech and finance. Learn more at artafinance.com
-
Appian victorious in High Court claim against Sibanye-Stillwater following unlawful termination of US$1.2 billion transaction
LONDON, Oct. 10, 2024 /PRNewswire/ -- Appian Capital Advisory LLP ("Appian"), the investment advisor to long-term value-focused private capital funds that invest in companies in metals, mining, and adjacent industries, welcomes today's ruling from the High Court of England and Wales that Sibanye-Stillwater Limited and its subsidiary Sibanye BM Brazil (Pty) Ltd (together, "Sibanye") are liable for damages caused by unlawfully terminating their US$1.2 billion transaction with Appian to acquire shares in Atlantic Nickel and Mineração Vale Verde in January 2022. Aerial picture of Atlantic Nickel Highlights High Court decision vindicates Appian's position that Sibanye breached its contract by terminating its acquisition of Atlantic Nickel and Mineração Vale Verde without any legal basis The Judge held that Sibanye is liable to compensate Appian for the losses caused by its unlawful refusal to close the binding US$1.2 billion deal Appian will seek to recover its losses in full, including interest that would have accrued since January 2022 The quantum of these damages will be determined at trial in November 2025 The full judgment on the liability case is available here The judgment was handed down following a five-week trial in the commercial list of the English High Court. The ruling vindicates Appian's claim that Sibanye unlawfully breached two sale and purchase agreements ("SPAs") for its acquisition of the Brazilian mining companies Atlantic Nickel and Mineração Vale Verde. Sibanye's termination was based on the incorrect assertion that an insignificant and minor geotechnical event ("GE") at Atlantic Nickel's Santa Rita mine in November 2021 constituted a material adverse effect ("MAE") under the terms of the SPAs. The event, which Sibanye had previously assessed as an occurrence "to be anticipated in mature mining operations", had minimal impact on the mine. In 2022, the mine produced 117kdmt of nickel concentrate representing a 9% year-on-year increase and delivered strong financial growth with EBITDA increasing by 65% year on year. Sibanye improperly relied on the event to avoid its contractual obligations. In the High Court ruling, Justice Butcher determined that "the GE was not and would not reasonably have been expected to be material, and none of the bases relied on by the Defendants (Sibanye) demonstrated that it was or would" and that "there was no other basis on which the Defendants (Sibanye) were entitled to terminate the SPAs." Today's ruling dictates that Sibanye is liable to compensate Appian for all of the damages which resulted from Sibanye's unlawful termination of the US$1.2 billion transaction. Appian will seek to recover these losses in full, including the significant interest that would have accrued since January 2022. The hearing to deal with the quantum of these damages will be tried in November 2025. If Sibanye cannot pay in full the damages awarded to Appian in the quantum trial, Appian will pursue all enforcement options. Atlantic Nickel's Santa Rita project is one of a few long-life nickel sulphide mines, with a copper, cobalt and platinum group metals by-product, producing globally. Atlantic Nickel will continue progressing the asset's large underground extension development through the transition from open pit to underground mining. The underground development with higher-grade nickel will increase the production rate and extend the life of the mine to over 20 years. For further information: Appian Capital Advisory LLP: Andrew Todd, Head of Communications: +44 7990416759 / atodd@appiancapitaladvisory.com +44 (0)20 7004 0951 / info@appiancapitaladvisory.com FGS Global: Charles O'Brien, Richard Crowley: +44 (0)20 7251 3801 / AppianCapital-LON@fgsglobal.com About Appian Capital Advisory LLP Appian Capital Advisory LLP is the investment advisor to the Appian Natural Resources Funds, which are long-term, value-focused funds that invest in metals, mining, and adjacent industries. Appian is a leading investment advisor with global experience across South America, North America, Australia and Africa. It has a successful track record of supporting companies in metals, mining, and adjacent industries to achieve their development targets, with a global operating portfolio overseeing nearly 5,000 employees. Appian has a global team of 85 experienced professionals with presences in London, New York, Hong Kong, Toronto, Vancouver, Lima, Belo Horizonte, Montreal, Dubai, Johannesburg and Perth. For more information, please visit www.appiancapitaladvisory.com, or find us on LinkedIn, Instagram or Twitter/X.
-
Go Global Retail and Janie and Jack to Acquire HATCH Collection, a Leading Premium Maternity Brand
Strategic investment enhances Go Global's portfolio and expands market reach into premium maternity fashion and lifestyle brand LOS ANGELES, Oct. 10, 2024 /PRNewswire/ -- Go Global Retail today announced it has completed its acquisition of HATCH Collection, a leader in premium maternity fashion, through its Janie and Jack Holdings, Inc. platform. This acquisition is the latest in Go Global's investments and represents a strategic follow-on acquisition into the purchase of children's fashion leader Janie and Jack which was acquired from Gap Inc. in 2021. Since then, Janie and Jack has expanded its digital capabilities and accelerated omnichannel growth globally. Go Global Retail and Janie and Jack to Acquire HATCH Collection, a Leading Premium Maternity Brand Founded in 2011, HATCH paved the way for meeting women's needs during the most transformative period of their lives – motherhood – through its multifaceted platform offering elevated maternity and postpartum looks, beauty and wellness essentials, and educational content through its leading editorial platform, Babe. HATCH maintains strategic wholesale partnerships with over 200 retailers and operates two retail stores in New York, home to its community events, in addition to its flagship e-commerce platform. "The acquisition of HATCH perfectly aligns with our strategy of expanding our portfolio for the modern mom," said Jeff Streader, Founder and Managing Partner of Go Global Retail. "By integrating HATCH into our brand family, we aim to enhance the overall customer experience while positioning ourselves for future growth. Our customer-centric approach continues to guide our mergers and acquisitions, ensuring each decision strengthens our ability to meet their needs." "By bringing HATCH into the Janie and Jack family, we are extending our reach to the earliest stages of parenthood, cultivating deeper customer loyalty and lifetime value. This acquisition strengthens our position to capture the growing demand in this segment while elevating both brands," said Mo Beig, President and CFO of Janie and Jack. "This is an exciting moment for HATCH as we embark on this next chapter. Our mission and values align seamlessly with Janie and Jack; together, we are better positioned to support women on their journey through parenthood," said Rosie Rothrock, Chief Marketing Officer of HATCH. The acquisition was financed through Janie and Jack Holdings in conjunction with a senior secured credit facility provided by MidCap Financial, a leading commercial finance company specializing in middle-market transactions. Janie and Jack operates about 120 retail stores across the U.S. and features an online offering of apparel, footwear, and accessories. The brand will continue to operate from its headquarters in San Francisco, while HATCH will maintain its base in New York. About HATCH CollectionFounded in 2011 by Ariane Goldman, HATCH Collection is a leading maternity brand offering fashion, skincare, content, and community support. Designed to be a premium lifestyle destination, HATCH helps women navigate every stage of pregnancy and motherhood with style, beauty, and confidence. Its editorial platform, Babe, will continue to provide engaging content, education, events, and support for its community. About Janie and JackJanie and Jack is a design house for kids — because individual style starts early. Each season's collections feature charming twists on classic fashion. Janie and Jack is known for family moments, thoughtful details, and memorable gifts. Visit Janie and Jack stores nationwide for kids' clothing from newborn to size 8 and www.janieandjack.com for up to size 18. About Go Global RetailFounded in 2016, Go Global Retail is an investment platform focused on acquiring and growing brands in the consumer sector. The firm partners with retail and operational executives to transform and scale brands through digital innovation and strategic investments. Learn more at www.goglobalretail.com. Photo - https://mma.prnasia.com/media2/2527399/Hatch.jpg?p=medium600
-
Angel Yeast Contributes USD 43.46 Million to Establish New Subsidiary and Yeast Production Facility in Indonesia
BANDAR LAMPUNG, Indonesia, Oct. 10, 2024 /PRNewswire/ -- Angel Yeast (SH:600298) a global leader in yeast manufacturing, is partnering with Indonesian agricultural company PT.Tunas Baru Lampung Tbk ("TBLA") to set up a subsidiary in Lampung Province and acquire land to develop agricultural production projects, in a move to further optimize Angel Yeast's global yeast production operations and carry forward its international strategy, boosting its competitive advantages in the Asia-Pacific markets. The subsidiary has a registered capital of 381 million yuan (USD54.29 million), of which Angel Yeast will contribute about 305 million yuan (USD43.46 million) and hold 80 percent of the shares, while TBLA will contribute about 76 million yuan (USD10.83 million) for 20 percent of the shares. The registration and land transaction procedures are estimated to be completed before February 2025. The land to be acquired for the project is held by Sungai Budi Group, and the industrial land has a total area of 15.31 hectares, with the total amount of the land acquisition expected to be worth approximately Rp76.6 billion (USD5.015 million). Indonesia has the world's fourth largest population and a high demand for yeast products, with an abundant supply of raw materials and convenient location in the Straits of Malacca. Chen Hongquan, chairman and general manager of Angel Yeast Indonesia Company, noted that from 2010 to present, Angel Yeast has built factories in Egypt and other countries, and that setting up the subsidiary in Indonesia will fully leverage the local resources, strategic location, tariff advantages to accelerate and deepen the company's development in neighboring markets. "The subsidiary will not only solidify our presence in Indonesia's yeast market to address increasing demand, but it will also enhance our competitive edge and long-term profitability in line with Angel Yeast's strategic goals. Additionally, we plan to aggressively penetrate markets in India, Oceania, and North America to accelerate our market development and expand our market share," said Chen. In the first half of 2024, Angel Yeast achieved an operating revenue of 7.175 billion yuan (USD1.02 billion), an increase of 6.86 percent year-on-year. The total fermentation production reached 204,000 tons, up 11.5 percent year-on-year. Angel Yeast's overseas revenue in the first half of the year increased significantly, driven by the bright prospects of the industry and the acceleration of the company's international development roadmap. "Moving forward, Angel Yeast is committed to its mission of advancing biotechnology to foster healthier lifestyles. We will confidently enhance our technological innovation and research and development capabilities as we expand into global markets," said Chen.
-
New Database from Good Jobs First Tracks Regulatory Infringements by Multinational Corporations in 45 Countries
WASHINGTON, Oct. 10, 2024 /PRNewswire/ -- The world's largest corporations have paid US$700 billion in monetary penalties linked to regulatory infringements in 45 countries since 2010. Major banks, especially those based in the USA and Europe, account for more than one-third of the penalties. Ninety-five parent companies have received US$1 billion or more in penalties. These are some of the revelations from data contained in Violation Tracker Global, a new website created by the U.S. non-governmental organization Good Jobs First, which previously produced similar databases focused on the USA and the United Kingdom. Violation Tracker Global is free to search at violationtrackerglobal.goodjobsfirst.org. "Violation Tracker Global documents a wide range of misconduct by multinational corporations in their operations around the world," said Philip Mattera, who directs the Violation Tracker project. "We hope it will be a valuable tool for those promoting corporate accountability efforts in many countries, including the EU's Corporate Sustainability Due Diligence Directive." Violation Tracker Global documents over 50,000 regulatory penalties imposed on 1,600 multinational corporations and their subsidiaries by 700 regulatory agencies and courts in the world's largest economies in both the Global North and the Global South The cases in Violation Tracker Global are divided into eight broad offense groups: Competition/Antitrust, Consumer Protection, Employment, Environment, Financial, Government Contracting, Healthcare, and Safety. Each entry is also tagged with one of about 100 more specific offense categories, such as privacy/data protection violations, bribery, money laundering, and workplace safety. Some countries do not disclose data in all these categories. Entries include additional details, such as a description of the offense, the monetary penalty (both in the original currency and the equivalent in U.S. dollars), and a link back to the information source, which in most cases is the website of the regulatory agency. Here is a list of all the countries and jurisdictions included in Violation Tracker Global: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Czech Republic; Denmark; European Commission; European Free Trade Association; Finland; France; Germany; Greece; Hong Kong; Hungary; India; Indonesia; Ireland; Israel; Italy; Japan; Kenya; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Taiwan; Thailand; Turkey; United Kingdom; USA; and Vietnam. There are also bribery cases from the African Development Bank; the Inter-American Development Bank; and the World Bank. Contact: Philip Mattera pmattera@goodjobsfirst.org
-
Singapore tech startups amongst top 10 disruptors competing in the L'Oréal Big Bang Beauty Tech Innovation Program Grand Finale
Innovators from the region's dynamic startup ecosystem to compete for a L'Oréal-funded commercial pilot opportunity and a year-long mentorship programme SINGAPORE, Oct. 10, 2024 /PRNewswire/ -- Four Singapore startups are making their mark on the regional stage, securing their places in the Grand Finale of the L'Oréal Big Bang Beauty Tech Innovation Program for the South Asia Pacific, Middle East & North Africa (SAPMENA) region. The four teams – Ai Palette, Creatively Squared, EVOV AI and OwlySearch – will be joined by other leading innovators from India and United Arab Emirates as the top 10 startups competing in the Grand Finale in Singapore on 23 October. Launched in May, the L'Oréal Big Bang Beauty Tech Innovation Program is the biggest open innovation competition of this geographical scale. Promising startups will have the opportunity to work with L'Oréal in a commercial pilot with one of the Group's 37 international brands, tap into potential exposure in 35 markets across the SAPMENA region, and embark on a year-long mentorship program with senior executives from L'Oréal and the program partners. Lex Bradshaw-Zanger, Chief Marketing & Digital Officer for L'Oréal SAPMENA, said, "As the world's leading beauty player, we are committed to partnering dynamic startups through initiatives like the Big Bang Beauty Tech Innovation Program, providing them access to resources and mentorship to scale their businesses regionally and connect with industry leaders. Congratulations to these innovative startups for being top disruptors in the SAPMENA region and qualifying for the Grand Finale. We are excited to accelerate their growth and shape the future of beauty together." The 10 startups heading into the Grand Finale were chosen after a rigorous selection process that evaluated their innovative solutions to key challenges within the beauty industry. These startups addressed one or more of the five challenge themes: Consumer Experience, Content, Media, New Commerce and Tech for Good. Through their participation, startups had the opportunity to connect with commercial and digital leaders, including strategic partners and mentors who offered insights to test new ideas and potential to scale. L'Oréal is dedicated to fostering a culture of innovation. Fast Company recently named L'Oréal in its Top 50 2024 Best Workplaces for Innovators list and winner of the Beauty and Fashion category, in recognition of its commitment to encourage and develop innovation at all levels. 10 Grand Finalists of the SAPMENA Big Bang Beauty Tech Innovation Program 1. Ai Palette (Singapore): Ai Palette's AI-powered consumer insights platform helps brands to drive innovation and product development. 2. AIM Technologies (United Arab Emirates): AIM Technologies delivers multilingual AI-powered consumer and market intelligence which deciphers complex data, enabling consumers to transform their business strategies according to the ever-changing landscape. 3. Creatively Squared (Singapore): Creatively Squared is a visual content production platform that enables brands to efficiently produce original digital photos and videos that are on-brand, high quality and effective. 4. Digital Rocket IO (United Arab Emirates): Digital Rocket IO's AI platform empowers marketers to achieve unprecedented results by simplifying complex processes, enhancing productivity, and driving growth with Codeless AI solutions. 5. EVOV AI (Singapore): EVOV's AI-powered platform analyses market trends, viewer behaviour, and engagement metrics to provide marketers with actionable insights that drive high-performing short video content strategies. 6. FluxGen Sustainable Technologies (India): FluxGen uses Generative AI-powered analytics and predictive alerts to help businesses take control of their water footprint – identifying inefficiencies, automating monitoring, and detecting leakages and wastage in their water network to reduce water consumption by up to 30%. 7. Live2.ai (India): Live2.ai is a SaaS platform offering interactive video solutions, focusing on shoppable video technology for Connected TV (CTV) and brands' websites and apps. It enables businesses to create engaging videos where viewers can make purchases directly within the video content. 8. NeuralGarage (India): NeuralGarage uses Generative AI to solve the problem of awkward dubbing in entertainment, with technology that syncs actors' lip movements with dubbed audio to create a natural viewing experience that preserves the cinematic feel of the original content. 9. OwlySearch (Singapore): OwlySearch transforms data in business intelligence, using its AI-powered search listening platform to convert search behavioural data into business analytics which allows the user to understand real-time consumer behaviours. 10. Rezo.ai (India): Rezo.ai transforms contact centres with AI-powered automation and analytics that enable enterprises to personalize customer interactions in real time. About the Big Bang Beauty Tech Innovation Program in SAPMENA The Big Bang Beauty Tech Innovation Program is a regional open innovation competition that seeks to discover, support and nurture promising startups from across the South Asia Pacific, Middle East and North Africa region. These startups will be given the opportunity to further innovate their solutions in Beauty Tech for one of five challenge themes: Consumer Experience, Content, Media, New Commerce and Tech for Good. The three regional semi-finals for the GCC, India and Southeast Asia culminate in an in-person SAPMENA Grand Finale in Singapore on 23 October 2024. Judges will comprise senior executives from L'Oréal and the program partners including Accenture, Google and Meta. The top three SAPMENA Grand Finale winners will win a L'Oréal-funded commercial pilot opportunity and a year-long mentorship program with senior executives from L'Oréal and the program partners. Startups who prove successful pilots in SAPMENA could have the opportunity to work with L'Oréal globally. With L'Oréal SAPMENA as a launchpad, startups could tap into an extensive network of partners and market insights. Home to 40% of the world's population, the SAPMENA region covers 35 markets including many of the world's fastest growing, most populous and young markets. Its consumers are young digital natives, having an average age of 28 years (compared to the global average of 33 years) and with more than 60% purchasing online every week. Innovative e-commerce and social commerce business models and technologies are needed to reach and engage these consumers, who are leading the beauty acceleration with diverse beauty ideals and a dynamic digital culture of on-demand, always-connected and hyper social. Across Southeast Asia, India and the Middle East, the combined startup ecosystem includes over 40,000 startups, with more than 180 unicorns (startups valued US$1 billion+) and a deal flow that reached US$20 billion last year. For more information, visit http://bigbang.lorealsapmena.com/. About L'Oréal South Asia Pacific, Middle East, and North Africa (SAPMENA) Zone Home to 3 billion people and 40% of the world's population, the South Asia Pacific, Middle East & North Africa (SAPMENA) Zone is a major growth engine for L'Oréal and a global talent hub. The SAPMENA Zone was formed in 2021 to drive focus on consumer needs and growth in many of the world's most populous, young and fast-growing economies. Across 13 entities and 35 markets spanning New Zealand to Morocco, the L'Oréal SAPMENA Zone is reinventing beauty experiences for our consumers through a portfolio of over 30 international brands and game-changing Beauty Tech innovations. Our business model is built on responsible and sustainable growth, with commitments which focus on three key areas – the planet, the people and our products. About L'Oréal For 115 years, L'Oréal, the world's leading beauty player, has devoted itself to fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L'Oréal for the Future program, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality. With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, branded and travel retail), in 2023 the Group generated sales amounting to 41.18 billion euros. With 20 research centres across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L'Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse. More information on https://www.loreal.com/en/mediaroom
-
Toss Securities Announces Appointment of Gyubin Kim as New CEO
Gyubin Kim steps into new role as CEO of Toss Securities Part of the strategy to strengthen the company's investment platform Dongwan Ko appointed as the new Head of Product... Strengthening product-centric operation SEOUL, South Korea, Oct. 10, 2024 /PRNewswire/ -- Toss Securities announced today that Gyubin Kim, the former Head of Product, has been appointed as the new CEO. The decision, made during a general shareholders' meeting on the 10th, is part of a strategy to bolster Toss Securities' standing as an investment platform and broaden its range of services. Toss Securities Announces Appointment of Gyubin Kim as New CEO Kim has been instrumental in driving service innovation since joining Toss Securities as a Product Owner (PO) in January 2022. His accomplishments include launching real-time fractional overseas stock trading and enhancing the investor community. Kim also contributed to the company's first quarterly profit in 2023. He has laid the groundwork for Toss Securities services, such as launching overseas bonds, diversifying products, and introducing Toss Securities PC (Web Trading System). Prior to joining Toss Securities, Kim honed his tech-based service planning skills at Toss (Viva Republica) and eBay Korea. Following the recent executive appointments, Dongwan Ko, former PO, has assumed the position of the new Head of Product. Since joining Toss Securities, Ko has contributed in spearheading the company's growth in overseas stock services. Toss Securities, which began as an easy-to-use mobile stock trading service in March 2021, has grown into a brokerage firm with 6.3 million customers as of September 2024. The company has expanded its scope to cater not only to novice investors but also to professional investors. Focused on overseas stock brokerage services, Toss Securities turned a profit last year and is projected to continue its growth trajectory this year. [Biography] Gyubin Kim, CEO of Toss Securities Career Details: 2022 – Present: Toss Securities 2020 – 2022: Viva Republica 2015 – 2020: eBay Korea 2012 – 2013: Nanojo (Co-founder) Education: Graduated from Carnegie Mellon University / Electrical and Computer Engineering About Toss Securities Toss Securities, a subsidiary company of Viva Republica, which operates the financial super app Toss, launched its customer service in March 2021. As a newly licensed securities company after 13 years in South Korea, it provides user-centered services with UX/UI optimized for the mobile environment. In particular, it is the first in the industry to introduce an integrated account service that allows customers to conveniently trade multiple financial instruments from one account without installing a separate app, and as of September 2024, more than 6.3 million customers have used Toss Securities. Monthly Active Users (MAU) reach over 3.3 million to date. In addition to real-time overseas decimal stock trading, the company offers a variety of services such as community and customized content and is evolving into a data-driven investment platform.
