Binance Smart Chain invests in MCDEX under the $1 billion Fund
Ethnic E-Grocer Weee! Announces Acquisition of Online Asian Food Delivery Company RICEPO
Citi Partners Grab to Enable Seamless Conversion of Citi ThankYou Points and Citi Miles To GrabRewards Points, Creating Greater Value for Consumers
Zipmex Releases ZLaunch: The First Regulated Digital Assets Platform in Thailand and Indonesia to Introduce a Token Reward Program
Ayala commits to achieve net zero by 2050
Trava.Finance Introduces NFT Renting Marketplace- A World's First Peer-to-Peer Renting in GameFi on Binance Smart Chain
Newly-launched ESR Japan Income Fund set to acquire US$2.1 billion initial portfolio with a target of US$10 billion GAV by 2026
Unispace Appoints Paul Baxter As Asia CEO
AsiaPay partners with Pace to give shoppers more freedom to buy what they need with a ''Buy Now Pay Later'' option
Warwick Investment Group completes deal in Belgravia
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Primavera Capital Invests in Envision to Advance Carbon Neutrality
BEIJING, Oct. 21, 2021 /PRNewswire/ -- Primavera Capital Group ("Primavera") announced a strategic investment of US$600 million in Envision Energy and Envision AESC, two subsidiaries of Envision Group ("Envision"). This is another important investment by Primavera in the field of carbon neutrality. Envision is a world leading green-tech company. With the mission of "solving the challenges for a sustainable future", the company is committed to becoming a "net-zero technology partner" for enterprises, governments, institutions and cities across the world. Envision continues to promote wind and solar power as the "new coal", batteries and hydrogen fuel as the "new oil", the AIoT network as the "new grid", the net-zero industrial parks to the "new infrastructure", and to promote the construction and cultivation of green "new industry". Envision designs, sells and operates smart wind turbines and energy storage products through envision Energy, AIoT-powered batteries through Envision AESC and the world's largest AIoT operating system through Envision Digital. In October 2021, Envision is ranked #2 on Fortune's global "Change the World List", praised for the key role it plays in getting the world to reach its aims for net-zero emissions. Long focused on the "net-zero" industry, Primavera has previously invested in Zhuhai CosMX Battery Co, China's largest supplier of polymer lithium-ion batteries, as well as electric vehicle industry leaders such as Xpeng Auto, NIO Auto and shared travel solution provider Hello Inc. Commenting on the investment, Fred Hu, founder and chairman of Primavera, says: "Primavera fully recognizes Envision's technological innovation prowess, advanced manufacturing and integrated services capabilities. By leveraging our respective strengths in both domestic and international markets, including the strong eco-system of Primavera's portfolio companies, we intend to support Envision's global expansion and growth, empower many more industries to achieve zero-carbon transition, and promote mass adoption of renewable energy and clean tech in China and globally." William Wang, founding-partner of Primavera, comments: "Envision is a carbon neutrality technology leader both in China and globally. Based on its cutting-edge technology, talent first philosophy and culture-led development path, the company has successfully integrated data, algorithms and sophisticated manufacturing and developed itself into a China-based global industry leader. We are extremely pleased to be able to invest in such a promising company. We plan to assist Envision the pursuit of carbon neutrality in China and around the world." Lei Zhang, CEO of Envision, says: "Envision is committed to driving the green 'new industrial revolution' through renewable energy transition. Long-term strategic capital is important and constructive to us. We look forward to working together with Primavera to develop a new green industrial system in order to create a better net-zero world." The world is currently undergoing a revolution of "green economy + digital technology". In a world full of uncertainties, one thing that is certain to happen in the coming three decades is that the world's major economies will actively pursue carbon neutrality. China, the U.S. and the E.U. have all announced their carbon neutrality targets in the past year. While still in a period of rapid economic and social development with huge energy demand, China is facing enormous challenges to achieve the dual goals of "carbon peak by 2030" and "carbon neutrality by 2060". The development of renewable energy has therefore become a priority not only to reach these goals but also to safe-guard national energy security and stable development conditions for society. Since 2020, China's Ministry of Ecology and Environment, Ministry of Energy, Ministry of Industry and Information Technology and the central bank have all set up action plans designed to achieve the "dual carbon goals". These plans have had a favorable impact on the sustainable and healthy development of wind and solar industries in China. In the future, the proportion of wind and solar power in China's energy mix will continue to rise, with total installed capacity expected to reach 1.2 billion kilowatts by 2030. About Primavera Capital Group Primavera Capital Group is a premier China-based global investment firm that manages both RMB and USD funds for leading institutions, corporations and prominent family offices around the world. Primavera seeks the best opportunities from China's historic transition from a middle-income to an advanced economy and focuses on consumer and retail, technology, healthcare, advanced manufacturing, business services, and financial services sectors. For more information, please visit https://www.primavera-capital.com/. Related Links :https://www.primavera-capital.com
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Annual Empire State Building Run-Up Presented by Turkish Airlines Powered by the Challenged Athletes Foundation Returns on Oct. 26
Celebrities, Elite Tower Runners and Challenged Athletes to Participate in Iconic RaceNEW YORK, Oct. 21, 2021 /PRNewswire/ -- Today, the Empire State Building announced the elite tower runners, challenged athletes and celebrities from around the world who will join lucky lottery winners to climb their way the 1,576 steps to the top of the The World's Most Famous Building on Tuesday, Oct. 26, 2021 for the Empire State Building Run-Up (ESBRU) Presented by Turkish Airlines and Powered by the Challenged Athletes Foundation. ESBRU 2021 The men's elite heat for the 43rd annual running event will feature tower running legends like Wai Ching Soh (Malaysia), who came in second in 2019; Sproule Love (St. Louis, MO) who finished third in 2018 and sixth in 2019; and David Roeske (Loveland, CO), the fourth person ever to successfully climb Mount Everest. Notable contenders in the women's elite heat include Cindy Harris (Indianapolis, IN) – who came in second in the 2019 race – as well as Shari Klarfeld (Plainview, NY), Maria Elisa Lopez Pimentel (Mexico), Omar Bekkali (Belgium), and Fabio Ruga (Italy), all of whom finished in the top six back in 2019. "To be able to return to New York and compete against the world's best athletes in such a unique challenge – in such an iconic location – is a great honor," said Wai Ching Soh, the Guinness World Record Holder for the greatest vertical height stair climbing in one hour. "I have no doubt the competition will be fierce this year, and I'm looking forward to once again be part of such a milestone challenge, and hopefully break my personal record." New to the race this year will be performance sportswear brand On Running, with a designated heat of running enthusiasts and influencers from around the country eager to ascend New York's most iconic landmark. Turkish Airlines, a leading global airline flying to more countries and international destinations than any other, returns for its third year as presenting sponsor of the 2021 Run-Up and will present both the top elite male and female runner with a complimentary flight. In addition to serving New York's JFK airport, Turkish Airlines launched its tenth U.S. gateway at Newark International Airport earlier this year on May 21, 2021. "Turkish Airlines is honored to once again be a part of an exhilarating event that brings communities together from around the globe in an incredible race at the most iconic building in the world," said Turkish Airlines New York General Manager Cenk Ocal. "It comes with great pleasure to continue our commitment to sporting events and supporting organizations that champion dynamism and the competitive spirit, while also providing participants the opportunity to see the world with the chance to win tickets on Turkish Airlines to one of our 300-plus destinations around the world." Challenged Athletes Foundation (CAF) returns as the official charity of the Run-Up as a world leader in helping people with physical challenges get involved and stay involved in sports by providing unparalleled sports opportunities, hope, education, and inspiring physically challenged individuals to live active lifestyles. "We're excited to once again be part of an iconic event that brings together challenged athletes and our supporters to further our mission. We have an impressive and powerful group of challenged athletes and fundraisers who, with the help of the Empire State Building, will show the world what's possible when anyone with physical disabilities has the support needed to achieve their goals," said Doug Olson, Northeast Senior Development Director for CAF. In addition to ON Running, Turkish Airlines and CAF race heats, participants will include media, celebrities such as Bachelorette Tayshia Adams and Celebrity Trainer Don Saladino, and lottery participants in other designated heats. Author and Venture Capitalist Tim Draper will specifically host a heat that will pit the West Coast against the East Coast, as Silicon Valley Ventures goes head-to-head against New York City Ventures to win a $100,000 donation to their respective charity. The Empire State Building's world-famous tower lights will shine in Turkish Airlines' colors – red and white – the evening of the race in celebration of the event. More information about the Empire State Building and the Run-Up can be found online. About Empire State Realty Trust Empire State Realty Trust, Inc. (NYSE: ESRT) owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the "World's Most Famous Building." The company's office and retail portfolio covers 10.1 million rentable square feet, as of June 30, 2021, which consists of 9.4 million rentable square feet across 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; as well as approximately 700,000 rentable square feet in the retail portfolio. Empire State Realty Trust is a leader in energy efficiency in the built environment and sustainability space, with 76 percent of the eligible portfolio ENERGY STAR certified and 100 percent fully powered by renewable wind electricity. As the first commercial real estate portfolio in the Americas to achieve the evidence-based, third-party verified WELL Health-Safety Rating for health and safety, ESRT additionally earned the highest possible GRESB 5 Star Rating and Green Star recognition for sustainability performance in real estate and was named a Fitwel Champion for healthy, high-performance buildings. To learn more about Empire State Realty Trust, visit esrtreit.com and follow ESRT on Facebook, Instagram, Twitter and LinkedIn. About the Empire State Building The Empire State Building, "The World's Most Famous Building," owned by Empire State Realty Trust, Inc. (ESRT: NYSE), soars 1,454 feet above Midtown Manhattan from base to antenna. The $165 million reimagination of the Empire State Building Observatory Experience creates an all-new experience with a dedicated guest entrance, an interactive museum with nine galleries, and a redesigned 102nd Floor Observatory with floor-to-ceiling windows. The journey to the world-famous 86th Floor Observatory, the only 360-degree, open-air observatory with views of New York and beyond, orients visitors for their entire New York City experience and covers everything from the building's iconic history to its current place in pop-culture. Learn more at www.esbnyc.com. 2021 is the 90th anniversary year of the Building which officially opened on May 1, 1931. Declared "America's Favorite Building" by the American Institute of Architects, as well as the world's most popular travel destination by Uber and the #1 New York City attraction by Lonely Planet it welcomes more than 4 million annual visitors from around the world. Since 2011, the building has been fully powered by renewable wind electricity, and its many floors primarily house a diverse array of office tenants such as LinkedIn, Shutterstock, and Global Brands Group, as well as retail options like STATE Grill and Bar, Tacombi, and Starbucks. For more information and Observatory Experience tickets visit esbnyc.com or follow the building's Facebook, Twitter, Instagram, Weibo, YouTube, or TikTok. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of words such as "assumes," "believes," "estimates," "expects," "intends," "plans," "projects" or the negative of these words or similar words or expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond ESRT's control and could materially affect actual results, performance or achievements. Such factors and risks include, without limitation, the current public health crisis and economic disruption from the COVID-19 pandemic, a failure of conditions or performance regarding any event or transaction described above, regulatory changes, and other risks and uncertainties described from time to time in ESRT's and ESROP's filings with the SEC, including those set forth in each of ESRT's and ESROP's Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021, under the heading "Risk Factors". Except as may be required by law, ESRT and ESROP do not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise. Photo - https://mma.prnasia.com/media2/1666235/ESBRU_2021.jpg?p=medium600 Related Links :http://www.esbnyc.com
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Youth Square attracted over 1,000 participants to join a series of street dance activities
Creating a stage for youth to unleash their potentialHONG KONG, Oct. 21, 2021 /PRNewswire/ -- Youth Square has concluded a series of street dance activities earlier. Joining hands with TWGHs Tuen Mun Integrated Services Centre again this year, Youth Square has organised 'Street Culture Festival', a Festival to conduct street dance competition and street culture related workshops. Moreover, Youth Square has also actively supported 'Dance on E', a street dance programme jointly presented by the Eastern District Council and the Leisure and Cultural Services Department, to foster communication among youth through dance training. A series of street dance activities attracted over 1,000 participants to join and brought a new wave of street dance in Youth Square successfully. ‘Street Culture Festival 2021’attracted many young dancers to join this year, which brought a new wave of street dance in Youth Square successfully. Apart from various street dance, rapping and graffiti workshops, the four-day 'Street Culture Festival' also conducted street dance competition for groups and individuals which attracted over 100 young contestants. In addition to participating in the finale at Y Studio, this special event has been broadcasted also via Youth Square Instagram live for sharing the excitement of street dance battles with netizens. The top three were chosen as winners at the end after rounds of fierce competition by Popping Lok, a professional judge in street dance, Luen Mo, the champion of 'Street Culture Festival 2020' finale and Bigki, an experienced street dancer with numerous championships. "I feel fortunate to have had many opportunities in street dance in the past, so that I can persist to dance. Also, I am thankful for the support from my friends in street dance team and my family, allowing me to go after what I love and chase my dream!" said Mr. Him Wong, the champion of 'Street Culture Festival 2021' dance competition. Youth Square has been sparing no efforts in nurturing youth continuously. Apart from street dance competition and workshops, Youth Square reassembled Youth Step upon slowdown of the pandemics, Youth Square's street dance team, to perform in 'Street Culture Festival 2021' and 'Dance on E' after attending over ten training workshops. With strong rhythmic music, the youth power of Youth Step got everyone moving on the floor during the performance. "Thanks to Youth Square for providing a performing platform where young dancers can pursue their interest in street dance at ease," said Mr Ken Leung, the tutor of Youth Step. Youth Square has been providing a relaxed, reliable and safe environment for youth to explore every possibility of their potentials. Through organising and supporting various street dance activities, we hopes youth can have more performance opportunities at Youth Square, to help them develop positive attitudes and explore their interest further. Please download high resolution photos here. Youth Square The Youth Square, which came into full operation in 2010, is a youth development project of the Home Affairs Bureau of the HKSAR Government, with an aim to be the hub of diversified youth development activities for youth to develop their potential. Youth Square facilities include the 643-seat Y Theatre, Y Studio, multi-function areas and the Y Loft which has 148 guest rooms. Youth Square has been conducting events under three themes, include "Music & Dance", "Arts & Culture" and "Community Engagement". Youth Square is located in Chai Wan and is managed and operated by New World Facilities Management Company Limited on a non-profit basis. 6G model is Youth Square's guiding principle. 6G refers to Groom, Grow, Glow, Green, Global Vision and Give Back. Official website: http://www.youthsquare.hk Y Loft Y Loft is conveniently located, 3-minute walk from Chai Wan MTR Station. The 148-room Y Loft is located in Youth Square's Main Block and Hostel Block. Room selection includes Twin, Twin Room with Balcony, Triple, House of Six, Duplex and Accessible Rooms. Accessible Rooms, with widened corridor and more space, are designed to deliver the same comfort and peace of mind to visitors with disabilities. New World Facilities Management Company Limited New World Facilities Management Company Limited is a non-profit making company and a subsidiary of New World Development Company Limited (Hong Kong Stock Code: 00017.HK). Embracing the mission of youth development and supporting youth to contribute to society, we strive to develop Youth Square as the platform for youth to exchange knowledge and experience and to develop and discover their potential. Related Links :http://www.youthsquare.hk
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CCMGT (9982.HK) Receives Initial Coverage from BNP Morningstar and Obtains "BUY" Rating
HONG KONG, Oct. 20, 2021 /PRNewswire/ -- Central China Management (9982.HK) has received initial coverage from BNP Morningstar with "BUY" rating. The target price is set at HKD 3.92 per share for the following reasons: Project management services for the real estate sector have taken off recently in China, driven by rising land costs and increasing competition that sees small and midsize developers seek the services of project managers with established brands to help derive higher returns on their projects. According to the research report, Central China Management Company, as a leading project manager in China with a strong presence in Henan province, is expected to benefit from industry growth of 23% over the next five years. As the industry expands, there will be more spin-offs of project management units by smaller national and larger regional real estate developers given the attractive profitability. With the new entrants, the market share of leading companies' such as CCMGT should remain high over the next five years. CCMGT can be regarded as a more defensive proxy to China's real estate growth given its asset-light business model. Moreover, it is noteworthy to see the stronger growth of CCMGT given demand for its services. The research report mentions that CCMGT attributes their competitive advantage in Henan to the following key factors: 1) strong recognition of the Jianye brand; 2) well established and deep understanding of the Henan real estate market; 3) ability to provide a full suite of services; 4) a strong network of resources--namely designers, suppliers, contractors and others to work on the projects; and 5) ability to pass on completed projects to Central China New Life, the group's property management service entity, to ensure the quality of the projects will be sustained. CCMGT's strategy is to focus on maintaining its dominance in Henan and to sustain its profit margin. Since the penetration rate is still low for the industry at 3%-5%, moving up to around 9% by 2025. It is reasonable to assume that CCMGT will be able to sustain a decent profit level despite the prospect of new entrants to the industry. CCMGT has the luxury of being able to select the project it thinks it is better able to add value to. This is the other reason that should allow CCMGT to keep a fairly stable profit margin in the near term. It is estimated that there will be an upside to the profit forecast of CCMGT if the company's ex-Henan projects take off. CCMGT is looking to acquire local teams to its business as it pushes into neighboring provinces. If so, profitability is likely to be more resilient. The downdraft in China's real estate sector on the Evergrande debt contagion concerns, places CCMGT at very attractive levels. The shares are trading at lows since listing on 31 May 2021 with a share price of HKD 1.2-1.3, placing the shares at 4.44-4.81 times PE (TTM).
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EQONEX strengthens marketing function with key hires
SINGAPORE, Oct. 20, 2021 /PRNewswire/ -- EQONEX Limited (Nasdaq: EQOS), a digital assets financial services company, today announced it has added five senior marketing and communications executives to its team. Adam Dance, Kristen Kaus, Jan Van Decraen, Robert Watkins and Gillian De Brondeau join EQONEX Group as it looks to further expand its business in its key target markets. EQONEX is the first crypto ecosystem to be listed on Nasdaq. It provides a full product range of digital financial services including exchange, custody, asset management, investment products, and borrowing & lending. The EQONEX exchange is unique among crypto exchanges. It does not make markets on its own platform, a practice which effectively means that customers are being traded against by the very platform they are trading on. The exchange also offers its own native token, EQO, of which only 21 million will ever be issued, over a limited period. EQO provides daily staking rewards, regular airdrops and can be bought on the platform, or earned through trading. These exclusive EQO holder benefits, reduce trading costs, making EQONEX a highly accretive cryptocurrency venue. Joining the marketing team are Adam Dance, as Head of Strategy and Product Marketing. Mr. Dance will focus on customer segmentation and activation, working to identify business opportunities, partnerships and campaigns to drive customer acquisition with a specific focus on growing our customer base on the EQONEX exchange. Mr. Dance brings considerable expertise to EQONEX, having previously spent 13 years at IG Group and most recently was CEO of IG, Dubai, having served in a variety of roles including Strategic Business Development, Product Management and Business Analysis. In addition, Kristen Kaus joins as Communications Director. She will be overseeing global communications activities to build and strengthen the EQONEX brand. Ms. Kaus has 18 years of experience in helping institutions to effectively build and maintain meaningful relationships with their crucial stakeholders - customers, shareholders, government, and the media. Her experience includes leading corporate communications at the New York Stock Exchange, heading up the global equities communications at Bank of America Merrill Lynch and working in the communications teams of the Australian Securities Exchange, and Citi Australia. Jan Van Decraen also joins as Head of Marketing Operations and Planning. Mr. Van Decraen is responsible for marketing planning, campaign execution, performance tracking, budget management, and operating processes. Mr. Van Decraen joins EQONEX from OKEx, where he was the Head of Marketing for the Middle East and Africa. He also led OKEx's Performance Marketing for Latin America and Asia Pacific. Robert Watkins joins as Head of Customer Growth Marketing and Digital Media. Mr. Watkins will be responsible for client acquisition through digital media, including determining the optimal mix of external acquisition and owned platform growth opportunities. Mr. Watkins joins from American Express, where he was Marketing Director based in the UK. Prior to this, he worked at Samsung in a number of marketing roles including Marketing Technology and Audience Lead and Data-Driven Marketing Lead. Finally, Gillian De Brondeau joins as Head of Marketing Platforms and Content. Mr. De Brondeau will be responsible for the development, ongoing optimization, and continuous improvement of all EQONEX web platforms. Prior to EQONEX, Mr. De Brondeau founded and led two companies focused on delivering digital and online marketing strategies, for a number of clients. Prior to that he spent almost eight years at Samsung, where he led its B2B and B2C online strategies. Sheel Kohli, Chief Marketing Officer at EQONEX Group, said: "Adam, Kristen, Jan, Rob, and Gillian bring considerable depth of experience, knowledge and marketing expertise. In particular, their knowledge of financial and investment products, and will be critical to our ambitions as we seek to grow our business globally, and effectively showcase the EQONEX ecosystem to the world." About EQONEX EQONEX is a digital assets financial services company focused on fairness, governance, and innovation. The group encompasses cryptocurrency exchange EQONEX as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform, Access Trading, a securitization advisory service, EQONEX Capital, market leading hot and cold custodian Digivault, and asset manager Bletchley Park. For more information visit: https://group.eqonex.com. Follow Eqonex on social media on Twitter @eqonex, on Facebook @eqonex, and on LinkedIn. This press release is provided by Eqonex Limited (f.k.a. Diginex Limited "Eqonex") for information purposes only, is a summary only of certain key facts and plans of Eqonex and includes forward looking statements that involve risks and uncertainties. Without limitation, the press release does not constitute an offer or solicitation in relation to any securities or other regulated products or services or to make use of any services provided by Eqonex, and neither this press release nor anything contained in it will form the basis of any contract or commitment whatsoever. This press release has not been reviewed by any regulatory authority in any jurisdictions. Forward looking statements are statements that are not historical facts and are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of Eqonex's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: Eqonex's limited operating history and history of net losses; Eqonex's ability to execute its business plan; the rate and degree of market acceptance of Eqonex's products; failure to obtain the requisite regulatory licenses and qualifications or establish partnerships with entities in certain jurisdictions to satisfy regulatory requirements; changes in laws or regulations; litigation and regulatory risks; Eqonex's inability to successfully identify, hire and retain skilled individuals; competition; Eqonex's inability to successfully develop technology to service its business lines and keep pace with rapidly changing technology and client or regulatory requirements; risks of cyber incidents; reliance on vendors and third-party service providers; inability to protect or preserve its proprietary rights and the risk of infringing on the intellectual property rights of others; potential conflict of interest arising from managing different business lines; risks of employee misconduct and manipulation of distributed ledger networks and smart contract technology by malicious actors; risk of Eqonex losing access to its private keys or data loss relating to its digital asset investments; the ability of Eqonex to grow and manage growth profitably; general economic and market conditions impacting demand for Eqonex's products and services, other business line specific risks and such other risks and uncertainties included in Eqonex's Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") on June 30, 2021, including those under "Risk Factors" therein, and in Eqonex's subsequent filings with the SEC, which are available on the SEC's website at www.sec.gov. In addition, any forward-looking statements contained in this press release are based on assumptions that Eqonex believes to be reasonable as of this date. Eqonex undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Copyright (c) Eqonex Limited 2021.
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Wells Fargo Strategic Capital Brings Total Growth Investment in Volante Technologies to USD 45M
Bank joins Wavecrest Growth Partners, BNY Mellon, Citi Ventures, PostePay (Poste Italiane) and Visa Inc. as investors to fund continued growth and expansion NEW YORK, Oct. 20, 2021 /PRNewswire/ -- Volante Technologies, the global leader in cloud payments and financial messaging, today announced it received USD 10M in growth funding from Wells Fargo Strategic Capital, bringing the total institutional investment to date to USD 45M. With this investment, the bank's growth capital unit joins a number of global institutional and strategic investors who committed to the previous capital raise led by Wavecrest Growth Partners in August 2020. 2020 was a banner year for Volante with the company doubling its net new logo signings from the previous year and closing 50 sales transactions with marquee customers including multinational banks, global asset managers, stock exchanges and payment networks. These successes led to numerous award wins this year alone, including topping the IBSI Sales League Table 2021 for Wholesale Payments. At a key inflection point, the company is now looking to further modernize the payments industry and bring the benefits of its technology to a wider range of participants, helping them evolve past their legacy limitations. As part of this mission, it will deepen collaboration with existing clients, and further increase the breadth of its ecosystem partnerships. "While innovation has accelerated in customer-facing fintech applications, legacy core payments infrastructure has been slower to adopt new technologies due to its complex messaging standards and mission-critical environments," said Basil Darwish, managing director for Wells Fargo Strategic Capital. "Volante solved such challenges by offering a modern cloud-native payments platform that minimizes the complexity while accelerating its customers' payments modernization efforts. We are excited to invest in Volante and join the next phase of its development." Recently, Wells Fargo initiated a strategic payments modernization effort by migrating to the ISO 20022 financial messaging standard across its global payments operations, for which it selected Volante for ISO 20022 Migration and Modernization. "We are excited to continue our partnership with Volante with this investment and we look forward to seeing how Volante will continue to innovate and advance their payment capabilities," said Jason Christensen, head of payments and treasury technology, Wells Fargo. Volante has always had big aspirations. The company pioneered real-time payments in the U.S. and cloud technology in financial services. It also has an extensive track record of innovation in digital transformation. In fact, Volante was offering a 'low code' and 'no code' platform long before they were industry buzzwords, an approach which it will further develop with its strategic investors, including Wells Fargo. "We're setting a high bar for excellence – one that improves and elevates the entire industry," said Vijay Oddiraju, CEO, Volante Technologies. "If banks can launch payment products in months versus years, then that's a win for everyone. Beyond digital banks and financial institutions, we also want to bring the value of our solutions directly to business and consumer brands." "But it's about more than innovation and automation," he continued. "As a global citizen, I'm also driven by the ethical imperatives of an industry that manages finances in an age of great global inequality. It's my concern for the next generation that leads me to believe that our products need to help end users achieve a better life. As a customer and an investor, Wells Fargo will further help us on this journey." Vaibhav Nalwaya, Managing Partner, Wavecrest Growth Partners, said, "Volante has cemented itself as the cloud payments operating system. Tier one banks, regional banks, and credit unions can forget about their multi-year transformation journeys. With Volante, they can update their connectivity to a new payments rail or comply with a new standard delivered over the cloud in a manner similar to how consumers update apps on their phones. Wavecrest is proud to support the Volante journey alongside an ensemble cast of strategic investors." For further thoughts on how the payments industry must rise to the challenges of our post-COVID world, read Vijay Oddiraju's latest blog post. About Volante Technologies Volante Technologies is the leading global provider of cloud payments and financial messaging solutions to accelerate digital transformation. We serve as a trusted partner to over 100 banks, financial institutions, market infrastructures, clearing houses, and corporate treasuries in 35 countries. Our solutions and services process millions of transactions and trillions in value every day, powering four of the top five corporate banks, 40 percent of all U.S. commercial bank deposits, and 70 percent of worldwide card traffic. As a result, our customers can stay ahead of emerging trends, become more competitive, deliver superior client experiences, and grow their businesses through rapid innovation. To learn more, visit www.volantetech.com. Follow us at linkedin.com/company/volante-technologies and twitter.com/volantetech. Related Links :http://www.volantetech.com
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Manulife to Release Third Quarter 2021 Financial Results
C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 TORONTO, Oct. 20, 2021 /PRNewswire/ -- Manulife Financial Corporation will release its third quarter 2021 financial results after market close on Wednesday, November 3, 2021, which will be made available at manulife.com/en/investors. A live webcast and conference call are scheduled for Thursday, November 4, 2021 at 8:00 a.m. (ET) where Roy Gori, President & CEO, Phil Witherington, Chief Financial Officer, and other members of Manulife's executive leadership team will discuss the results, followed by a question and answer period with analysts. To access the conference call, dial 1-800-806-5484 (toll free in North America), using passcode 4854764#. International dial-in numbers are also available. Please call in 15 minutes prior to the scheduled start time. The archived webcast will be available at manulife.com/en/investors following the call. A replay of the call will also be available beginning at 11:00 a.m. (ET) on Thursday, November 4, 2021 through to February 4, 2022 by dialing 1-800-408-3053 or 905-694-9451 (Passcode: 3295617#). About ManulifeManulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and our global wealth and asset management segment, Manulife Investment Management, serves individuals, institutions and retirement plan members worldwide. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of June 30, 2021, we had CAD$1.3 trillion (US$1.1 trillion) in assets under management and administration, and in the previous 12 months we made CAD $31.3 billion in payments to our customers. Our principal operations are in Asia, Canada, and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. Media Contact : Cheryl Holmes, Manulife, 416-557-0945, cheryl_holmes@manulife.com; Investor Relations: Hung Ko, Manulife, 416-806-9921, hung_ko@manulife.comRelated Links :http://www.manulife.com
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CP Kelco Launches New Pectin Solution for Salted Buttermilk
ATLANTA, Oct. 20, 2021 /PRNewswire/ -- CP Kelco, a global leader of nature-based ingredients, announces the launch of GENU® Pectin YM-SAL 200, an improved stabilizing solution for long shelf-life buttermilk with the saltier taste that consumers prefer. CP Kelco announces the launch of GENU® Pectin YM-SAL 200, an improved stabilizing solution for long shelf-life buttermilk with the saltier taste that consumers prefer. A popular staple in India, salted buttermilk is a refreshing beverage made with yogurt, spices and herbs. It has long been recognized for cooling the body and aiding in digestion, especially after heavy meals. However, product formulation has its challenges. The heat treatment and high salt content preferred by consumers can cause protein aggregation, gritty mouthfeel and sediment. New GENU® Pectin YM-SAL 200 protects and stabilizes protein over shelf life and tolerates up to 0.8% salt content. "We focused on creating value for our Indian customers through ingredient innovation," said Richard Yin, Head of Commercial, Asia Pacific Region. "Our technical experts developed a unique, nature-based solution that protects protein yet is compatible with current production processes and consumers' taste preference." GENU® Pectin is sustainably sourced and produced from citrus peels, a byproduct of the juice industry. To learn more and view a prototype video, visit www.cpkelco.com/salted-buttermilk-insights. About CP Kelco: Unlocking Nature-Powered Success® CP Kelco is a nature-based ingredient solutions company with approximately 90 years of experience working with food, beverage, consumer and industrial product manufacturers worldwide. We apply ingredient innovation and problem-solving to develop customized solutions that leverage our regional insights, meet manufacturers' goals and address consumer needs and preferences. Unique Portfolio. Produces extensive range of high-quality, plant-based and fermentation-derived ingredients to formulate tailored solutions. Technical Excellence. Offers strong collaboration with a global team of scientists and applications experts, leveraging our regional state-of-the art R&D facilities. Sustainability. Committed to providing responsibly sourced and produced ingredients. Market Insights. Understands market and consumer trends to help customers create relevant and innovative products. Key product lines include gellan gum, pectin, xanthan gum, carrageenan, diutan gum, refined locust bean gum, microparticulated whey protein concentrate, fermentation-derived cellulose and our latest innovation, NUTRAVA™ Citrus Fiber. Learn more at www.cpkelco.com. Photo - https://mma.prnasia.com/media2/1665046/CPK_PR_Salted_Buttermilk.jpg?p=medium600 Logo - https://mma.prnasia.com/media2/1228763/CP_Kelco_Logo.jpg?p=medium600 Related Links :http://cpkelco.com
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TerraPay partners with LuLu International Exchange to power real-time cross-border transfers from UAE to key global markets
THE HAGUE, Netherlands, Oct. 20, 2021 /PRNewswire/ -- TerraPay, a global payments infrastructure company, today announced the partnership with LuLu International Exchange, part of the LuLu Financial Group- a leading global financial services provider. This strategic collaboration will enable LuLu's customers to network key global corridors such as USA, Canada, the subcontinent countries, key African countries like Kenya, Tanzania, Ghana, Uganda, Nigeria, China, Vietnam, Indonesia, Europe with SEPA payments and the United Kingdom to receive secure and low-cost cross-border money transfers from UAE. This partnership will allow TerraPay to access LuLu Exchange's 5 million+ customer base. TerraPay partners with LuLu International Exchange to power real-time cross-border transfers from UAE to key global markets According to World Bank report, UAE was the second-largest source of remittances globally in 2020, followed by Saudi Arabia. LuLu international exchange, with one of the largest network of agents and an impressive base of captive customers using the LuLu Money app, remains at the forefront of cross-border remittances in the Middle East region. Commenting on the relationship, Saurabh Ranjan, Regional Director, Middle East, TerraPay, said," We are delighted to partner with LuLu International Exchange. Our partnership with LuLu opens instant bank and mobile wallet payment facilities to key corridors in Africa, Europe, Americas and Asia adding greater coverage and efficiency to LuLu Money, through LuLu Exchange's retail or digital channels. Through this association, LuLu customers will be able to access instant/same day credit to UK, Asia, Europe and Africa with no backend or hidden charges. Our alliance is another example of the impact our digital interoperable payment network has across regions. We are driving greater access to financial services globally for all our partners and customers" Speaking about the partnership Adeeb Ahamed, Managing Director, LuLu Financial Group commented," We are pleased to partner with TerraPay. TerraPay's extensive global payments network partners and infrastructure will play an instrumental role in facilitating cross-border remittance flows securely, transparently, efficiently, and in real-time. We believe in collaborative partnerships and application of technology and we are committed to provide instant, reliable and cost-effective payments to our customers " Both the companies will work together to drive real-time digital remittances, foster financial inclusion, and drive the adoption of cashless payments. About TerraPay Headquartered in Amsterdam, TerraPay is a licensed digital payments infrastructure and solutions provider. Since 2014, the company has been building an ever-expanding payments highway that empowers businesses with an uninterrupted, secure, and real-time global passage for every payment, however small or large. Registered and regulated across 15 global markets, TerraPay is a leading global partner to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a rich payment ecosystem that supports a range of diverse payment types and instruments. With a single integration, the company connects their partners to this deep-rooted global network, backed by strong compliance and security standardsFor more information, visit terrapay.com About LuLu Financial Group LuLu Financial Group, of which LuLu Exchange is a part of, is a global financial services provider headquartered in Abu Dhabi and operating over 235 branches in 11 countries across markets in the GCC, APAC and Indian sub-continent. The company has investments in varied digital and non-digital financial services & products geared to improve people's lives, with a vision to innovate value and inspire experiences in the markets in which it operates. For more information visit https://luluexchange.com/ Anwesha Mukherjee anwesha@terrapay.com +91-9717241606
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QBE partners with Kangaroo to deliver smarter home insurance
A new approach that flips traditional insurance on its head, by offering smart home security technology to help customers detect and prevent damage from water and humidityHONG KONG, Oct. 20, 2021 /PRNewswire/ -- QBE today announces a partnership with Kangaroo, a leading smart home security start up, to offer Hong Kong homeowners smart home kits to detect and prevent damage from water and humidity. The new approach flips the traditional insurance model on its head by offering smart technology to customers to keep them safe. Water damage is the second most common loss event for homeowners (excluding natural catastrophe). On average, a water damage claim costs USD$5,000. Homeowners can also be displaced or inconvenienced for days or weeks if the repairs are extensive. QBE customers will get Kangaroo's simple and secure Water + Climate Sensor included for free (RRP HKD$250) when they purchase home insurance online from QBE Hong Kong. "We have listened to customers tell us how important it is that they feel safe in the privacy of their home," says Lei Yu, CEO of North Asia and Regional Head of Distribution, QBE Asia. "Our goal is to help our customers catch avoidable accidents, saving everyone money, time and inconvenience. It is great to see people create a safer, happier home using technology that is included in QBE's Home Protection offering." Starting in Hong Kong, QBE's partnership with Kangaroo gives homeowners peace of mind. "I'm always fascinated by how people embrace and adapt technology to their needs, particularly in the home security category," says Dhruv Garg, co-founder of Kangaroo. "With our Water + Climate Sensor, we knew people valued how the device could quickly notify them on their phone if they had a leak from a burst pipe. What we didn't expect was people using our security products to keep precious items and family members safe. From checking humidity where handbags or wine bottles are stored, to knowing the temperature in a baby's room without waking them. Especially in Hong Kong, where there is so much seasonal fluctuation." QBE Hong Kong's home plus protection package provides comprehensive coverage for home contents, pets and temporary accommodation due to unforeseen circumstances. Using QBE's one-stop digital claims platform, customers are automatically connected and matched to a network of adjusters and panel home contractors based on the nature of their home damage. Customers can purchase QBE Home insurance online that includes the free Kangaroo Smart Home Sensor Kit worth HKD$250. About QBE Hong Kong QBE Hong Kong is part of QBE Insurance Group and has been serving Hong Kong for more than a century. Today, QBE Hong Kong operations include QBE Hongkong & Shanghai Insurance Limited, QBE General Insurance (Hong Kong) Limited, and QBE Mortgage Insurance (Asia) Limited. As a leading general insurer, QBE Hong Kong provides a comprehensive range of non-life insurance solutions for both business and personal customers. QBE Insurance Group is headquartered in Sydney, Australia, and operates out of 27 countries around the globe, with presence in every key insurance market. About Kangaroo Kangaroo, founded in 2018, is a leader in accessible, customizable home security technology. The company focuses on developing products for the mass market consumer, by removing cost and complexity from its solutions. The company may be best known for its 2020 introduction of a USD$25 smart Doorbell Camera + Chime which offers essential front door security at a price well below others in its category. All Kangaroo products are managed through users' smartphones and the Kangaroo app. For additional information, please visit: heykangaroo.com
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Dominica's Secret Bay Ranks in Condé Nast's Top 40 Caribbean Resorts List, Offering Investors Holiday Homes and Route to Second Citizenship
LONDON, Oct. 20, 2021 PRNewswire/-- The Commonwealth of Dominica is continuously proving itself to be a leading nation regarding its tourism product. Condé Nast reaffirmed this in its Travellers Readers' Choice Awards which included Dominica's Secret Bay as part of its top 40 list of resorts in the Caribbean. Renowned internationally for its architecture that seamlessly combines luxury with sustainability, Secret Bay offers holidaymakers a means of buying into the award-winning property and a gateway to Dominica's Citizenship by Investment (CBI) Programme. CBI enables vetted investors to purchase a share of the property in exchange for second citizenship. As much of the world begins to recover from the pandemic, it has become evident that having a second home is a necessity rather than a luxury, especially during times of crisis. Second citizenship can facilitate you and your family with safety, security, and abundant travel and business opportunities. Asian investors have long shown interest in CBI as a tool to empower their future with the real estate route being of most interest. The return on investment that comes with purchasing government-approved property is an attractive incentive for investors who are looking to secure second citizenship. Secret Bay, one of a handful of government-approved real estate options under the CBI Programme, recently celebrated its 100th ROI payment to its CBI clientele, demonstrating its popularity amongst foreign investors. Prime Minister Roosevelt Skerrit said: "…Investing in Secret Bay, you can be assured of your investment. You can be assured of a return on your investment. It is a project that cannot be compared to any other in the Caribbean." Operating for over two decades, Dominica's CBI Programme offers families a trusted Plan B with life-changing benefits. Applicants can either invest in a government fund designed to support national development or purchase a select property. Aside from Secret Bay, investors can choose seven other real estate options from hoteliers like Marriott, Hilton and Kempinski or boutique resorts like Jungle Bay. The Programme has also been consistently ranked as the world's best offering for second citizenship by experts at the Financial Times' PWM magazine. The researchers have continuously highlighted the Programme's affordability, meticulous due diligence standards and efficiency as reasons for its global appeal. Those who become citizens of the island gain a second home in a stable economy with a currency pegged to the US dollar, visa-free or visa-on-arrival travel to roughly 75% of the globe and access to some of the world's top education and healthcare institutions. +447867942505, pr@csglobalpartners.com, www.csglobalpartners.com
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Singapore launches new family office network for business families and professionals
In partnership with the family office community and with the support of EDB and MAS, WMI's new family office network will strengthen Singapore's position as a Global-Asia Family Office HubSINGAPORE, Oct. 20, 2021 /PRNewswire/ -- Today, the Wealth Management Institute (WMI) announced the launch of the Global-Asia Family Office Circle (GFO Circle). The GFO Circle is a new network aimed at supporting the growth of family offices in Singapore, in partnership with the family office community and supported by the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS). The GFO Circle will be a platform for industry players to collaborate, share best practices and build new capabilities. Collectively, this will support the development of a vibrant family office sector and strengthen Singapore's position as a global family office hub in Asia. The family office industry has been growing rapidly. From 2019, the number of family offices in Singapore has doubled to approximately 400 as at end-2020. The GFO Circle aims to build on this momentum to strengthen links across the different players in the family office community. These include family office principals, professionals and advisors. This will also galvanise the community towards meaningful causes such as philanthropy, sustainable finance and supporting Singaporean and regional entrepreneurship. Beyond community building, the GFO Circle will also emphasise capability development to support a stronger industry talent pipeline with deeper levels of expertise. WMI will provide education programmes, research and thought leadership forums. These will build on WMI's existing suite of programmes, covering subject areas such as trusts, governance and family office leadership. To help build investment capabilities in the sector, WMI will launch new programmes on global investment strategies and market principles, in partnership with Dalio Philanthropies and with contributions from global investors including GIC and Temasek. To help guide a more purposeful wealth allocation, WMI will be collaborating with the Gates Foundation on a new Philanthropy Masterclass, and with Adjunct Professor Bill Burnett from the Stanford Design Programme on a programme on Purposeful Wealth Design. The GFO Circle will also offer programmes on sustainable investing and impact investing. An indicative list of programmes is at Annex. Ms Foo Mee Har, CEO of WMI, said: "The ultimate goal of the GFO Circle is to be a trusted environment for the family office community to come together, share knowledge and gain access to domain leaders, changemakers, experts and distinguished global thought leaders. The rapidly growing family office segment is creating excellent jobs and new career pathways for Singaporeans in new family office set-ups as well as in sectors such as wealth management, asset management, tax, accountancy, legal and trust services. We saw strong demand for training from the finance and professional services sectors. In the last 12 months, there were over 500 enrolments in WMI's family office and trusts certification programmes. We are gearing up to double our scale to reach 3,000 enrolments over the next three years across Masterclasses, certification programmes and overseas learning journeys." Ms Jillian Lim, Executive Vice President, Family Office Development Team, EDB, said: "Family offices play an important role in Singapore's economic growth, by bringing patient capital, business expertise and networks which help spur entrepreneurship, innovation and philanthropy here. We're glad to see good initiative from the family offices and industry players to grow linkages and elevate access to opportunities in Singapore and in the region. The GFO Circle will strengthen Singapore's position as a hub for family offices by bringing global and Asian family offices together to exchange insights, explore new investment and philanthropic opportunities from Singapore." Ms Thong Leng Yeng, Executive Director and Head of the Financial Centre Development Department, MAS, said "The GFO Circle is a one-of-a-kind public-private partnership, bringing the family office industry in Singapore together and creating 'safe spaces' for members to interact with their peers. I am glad that the GFO Circle will be supporting family offices development as a force for good in Singapore, contributing to greater efforts in entrepreneurship, sustainable investments and philanthropy. These are areas that family offices have already been actively involved in which have seen even greater interest in recent times." Mr Kwee Ker Fong, Principal, Kwee Family Office, said "I am glad to see WMI and the GFO Circle promoting deeper interactions among the different players in Family Office community. Speaking from the perspective of a family office, the GFO Circle addresses a real need for community and capability building in the sector. I gained a lot from the Leading Asian Families Programme at WMI, which provided practical insights and thoughtful relationship-building with the other participants. I am confident that WMI and the GFO Circle are well placed to lead this effort. I look forward to participating in and contributing towards the upcoming programmes." Annex: Selected List of Upcoming Programmes under the GFO Circle Masterclasses Global Giving, Asian Innovation - 11 November 2021 (Virtual) This Masterclass will help participants better understand key trends in philanthropy. Global and local philanthropy leaders will share how advisors can help clients achieve their philanthropic goals and objectives, and introduce participants to emerging models, approaches, and tools. This Masterclass will be led by Assistant Professor Dien Yuen, WMI Lead Faculty for Philanthropy, with guest speakers from the Gates Foundation, the Community Foundation of Singapore and UBS. Purposeful Wealth Design – End November / Early December 2021This Masterclass will help participants understand the role of Design in creating a life that is meaningful and fulfilling, and its implication for designing a purposeful long-term wealth portfolio that reflects a client's values and causes. The Masterclass will be led by Adjunct Professor Bill Burnett from the Stanford Design Programme and the newly formed Design Life Institute of Singapore. Applied ESG for Family Offices - December 2021This Masterclass will cover the growing role of ESG and sustainable investing will play in the future, and how these trends will impact investing for family offices. It aims to provide more clarity on what could be seen as a complex ESG landscape. Certification Programmes Certificate for Family Office Advisors - FoundationThis is the first of a two-part training Certification Programme for Family Office Advisors. Drawing on real-world case studies, participants will develop an overall understanding of the types of family offices, their different functions, the legal and fiscal context in which they operate, as well as the means and tools that can help protect wealth for the long term. A significant part of the programme will help participants understand the human context of wealth owners: individuals, entrepreneurs and families. This is a pre-requisite for the Certificate for Family Office Advisors-Advanced programme. Certificate for Family Office Advisors - AdvancedTaking participants beyond the fundamentals of Family Offices, this advanced level programme delves deeper by introducing participants to the interests and risk considerations of the Ultra High Net Worth (UHNW) families of today. The programme explores the psychology and motivations of the affluent of today. It uncovers an array of available opportunities for clients who wish to reflect their values for society and the environment in their wealth decisions. This includes the fast-emerging area of impact investing. Participants will also learn about the different types of investments with a particular focus on specialty investments that make family offices a different category of investors. About The GFO Circle The Global-Asia Family Office Circle (GFO Circle) is a network platform that aims to be the leading voice and umbrella association for family offices in Singapore and Asia. It responds to a real and growing need for community building, collaboration and learning in the family office sector. By bringing together a community of family office principals, professionals and service partners, the GFO Circle will be a trusted environment for networking and knowledge sharing. The GFO Circle will offer unparalleled access to cutting-edge insights from a wide range of sectors. Members will have access to curated networking events, cutting-edge education programmes, research and thought leadership, as well as peer learning and cross-sector collaboration opportunities. The GFO Circle leverages on the deep expertise in wealth and asset management education within the Wealth Management Institute (WMI), as well as the partnership with the family office community across family principals, family office professionals and family advisors across the banking, asset management, MFO, trust services, legal, tax, accounting and IFA sectors. The GFO Circle is also supported by the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS). For more information, visit https://gfocircle.wmi.edu.sg About WMI Established in 2003, the Wealth Management Institute (WMI) is Asia's Centre of Excellence for wealth and asset management education and research. Founded by Temasek and GIC, WMI is driven by the vision to catalyse Singapore's growth ambition to become a leading international wealth and asset management centre. We believe that advancing knowledge and capabilities can have a sustainable impact on value creation at an individual, institutional and national level. WMI is appointed as Singapore's Lead Training Provider for Private Banking by the Institute of Banking and Finance Singapore ("IBF") and supported by the Monetary Authority of Singapore ("MAS"). WMI provides a comprehensive suite of practiced-based programmes from IBF accredited certification programmes, Graduate Diploma to Master of Science in Asset and Wealth Management in collaboration with Nanyang Technological University. In 2020, WMI enrolled 17,000 finance professionals from 150 leading financial institutions across 60 programmes. For more information, visit https://wmi.edu.sg Related Links :https://wmi.edu.sg
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Clayton, Dubilier & Rice Reaches Agreement to Acquire PwC's Global Mobility Tax and Immigration Services Business
Transaction Will Create the Independent Leader in Global Mobility Tax and Immigration Services for Multinational Organizations LONDON and NEW YORK, Oct. 19, 2021 /PRNewswire/ -- Clayton, Dubilier & Rice and PwC today announced an agreement under which CD&R funds will acquire PwC's Global Mobility Tax and Immigration Services business. The business is the global leader in employee tax, immigration, business travel, mobility managed services, and payroll solutions to multinational organizations and their employees. Terms of the transaction were not disclosed. The Global Mobility Tax and Immigration Services business serves more than 3,000 multinational clients worldwide. The business helps organizations manage global talent mobility, while providing personalized, high-quality tax and immigration services to cross-border employees, as they navigate compliance issues associated with global employment. The transaction will create a free-standing, global platform with more than 5,700 professionals hyper-focused on a seamless cross-border experience for clients, while accelerating investment in technology and new services. Throughout its more than 50-year history, the business has been the leader in global mobility services, supporting its clients' talent mobility programs by helping solve cross-border employment challenges. Recently, the business enhanced its service offerings to reflect the changing needs of clients and their cross-border employees throughout the pandemic. "We are excited for the opportunity to become a free-standing organization and partner with CD&R to build on our market leadership and drive more value for clients," said Peter Clarke, Global Managing Partner for Global Employee Mobility at PwC, who will be CEO of the new company. "The pandemic proved that global employment issues remain a key challenge for companies, especially as compliance requirements become more complex. Our partnership with CD&R will allow us to accelerate our technology investments to offer what our clients are asking for: an integrated digital experience across the entirety of the talent mobility ecosystem. These technology investments along with our new global operating model will support an even more differentiated service experience for our clients with the same laser focus on the quality and confidentiality of the services we provide to our cross-border employee clients, while providing expanded and rewarding career opportunities for our team." "CD&R has a longstanding track record of executing global carve-out transactions helping companies transition from corporate ownership to independent models," said Stephen Shapiro, a CD&R partner. "We believe, as a free-standing platform, PwC's Global Mobility Tax and Immigration Services business will be positioned to increase its value proposition to its world-class client base." "The Global Mobility Tax and Immigration Services business has significant global capabilities to support emerging trends and complexities in talent mobility. The business is well positioned to capitalize on the future growth of global employee mobility, as companies and economies rebound from the pandemic. The return of business travel, emerging mobile work patterns, and the heightened need for compliance in a complex business and regulatory environment will drive significant need for a globally integrated provider with a sophisticated digital platform," said Russ Fradin, CD&R Partner and former CEO and Chairman at Aon Hewitt, who will become board chairman of the new independent company upon close. "We are excited to partner with a very talented team to unlock their potential as a free-standing enterprise." "The best interests of our clients, people and partners have been at the forefront of this transaction and I'm confident that, with CD&R's backing, the new business will be well equipped to grow and meet the developing needs of its clients of all sizes and in all segments around the world," said Bob Moritz, Global Chairman of PwC. "This sale will allow PwC to increase its investment in and prioritize building capabilities relevant to our global strategy - The New Equation. I'd like to thank the partners and people involved for their great work and wish them well for the future." The business will be rebranded following the completion of the transaction, which is expected to close in the first half of 2022, subject to customary closing conditions including completion of certain local works council consultations. Deutsche Bank Securities Inc., JP Morgan, UBS Investment Bank, BMO Capital Markets Corp., BNP Paribas Securities Corp., Mizuho Financial Group Inc., RBC Capital Markets, LLC, and Societe Generale have committed financing to the transaction and are acting as financial advisors to CD&R; Debevoise & Plimpton LLP is providing legal counsel to CD&R. Morgan Stanley & Co. LLC is acting as financial advisor and Davis Polk & Wardwell LLP and Linklaters LLP are providing legal counsel to PwC. About Clayton, Dubilier & Rice Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in more than 100 companies with an aggregate transaction value of more than $150 billion. Over its history, roughly 50% of the transactions led by CD&R have been complex corporate carve outs. The Firm has offices in New York and London. For more information, please visit www.cdr-inc.com. About PwC At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 156 countries with over 295,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. About PwC's Global Mobility Tax and Immigration Services Practice PwC's Global Mobility Tax and Immigration Services practice is a market leader providing compliance, consulting and technology services for global employers and their mobile employees. As a trusted advisor to multinational corporations, we solve critical and complex workforce mobility challenges to ensure our clients and their employees have a consistent global experience.
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2021 Global Industrial Internet Conference opens in NE China's Shenyang
SHENYANG, China, Oct.19, 2021 /PRNewswire/ -- The 2021 Global Industrial Internet Conference opened at Shenyang New World Expo in Shenyang city, the capital city of northeast China's Liaoning province, Oct. 18, 2021, according to the Information Office of Shenyang People's Government. Guests visited the exhibition The event with the theme of "Empowering high quality and creating new kinetic energy" lasted 2 days. 14 special meetings and 2 special evening talks focusing on "digital empowerment", industrial development, industrial safety, industrial software, integration applications were held; activities including industrial exhibitions and industrial Internet professional competitions were also held during the event, promoting the integrated development of industrialization and information technology. At present, 40 major categories of industrial economy in China have carried out industrial Internet practices, and more than 1,600 "5G + Industrial Internet" projects are under construction. Liaoning Province released 1,453 Industrial Internet application scenario requirements of related enterprises at the conference, and announced that a fund of 2 billion yuan would be set up to support the construction of "Digital Liaoning & Smart Province". Financial subsidies of up to 30% of the project investment will be granted for the construction of digital workshops and intelligent factories, 10 million yuan to the utmost; for industrial Internet networks, platforms, and security projects, 30% of the project investment shall be subsidized, up to 5 million yuan the most. Compared with previous exhibitions, this exhibition has a larger scale, with a largest exhibition area of 20,000 square meters and over one hundred companies participated in. Image Attachments Links: Link: http://asianetnews.net/view-attachment?attach-id=404493 Caption: Guests visited the exhibition
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Xinergy GlobalTM Named Clutch's 2021 Top Market Research Company in China
Xinergy Global has been named 'top market research company' by Clutch.co in China Specializing in global business expansion, Xinergy offers a wide array of consulting services and is a trusted partner when it comes to scaling up internationally. SHANGHAI, Oct. 19, 2021 /PRNewswire/ -- Xinergy Global, an international consulting firm specializing in global business strategy, announced today that it has been named the top market research company and ranked as one of the top 3 best B2B companies in China by the prestigious Clutch.co. With offices in Tel Aviv, Shanghai and New-Delhi, Xinergy is well-positioned to offer tailor-made strategy solutions for companies looking to scale-up their global operations. Co-founders of Xinergy Global, Niv Schwartz and Yifeng Zhou. "It is an honor to receive this award and to be recognized by our clients and the industry," said Yifeng Zhou, Co-founder and VP Partnerships of Xinergy Global (Shanghai). "This award is a natural outcome of our client-centered philosophy that is backed by a deep understanding of the rapidly changing trends in the market. We will continue striving to create value for our clients worldwide in their business expansion endeavours." Slated to become the world's largest economy by 2028, the Chinese market represents significant potential when it comes to business expansion. This combined with its rapidly changing demographics, rising incomes, and increased consumer spending, China is a lucrative market that businesses cannot ignore. Poised to help technology companies achieve their global ambitions, Xinergy offers a unique value proposition to growing companies: simplifying a daunting process with reliable, boutique expertise without the price tag of a large consulting firm. Niv Schwartz, Founder & CEO of Xinergy Global stated: "With a multi-national team based around the world, we excel at helping companies plan their entry into markets which are complicated to navigate. We love seeing our clients grow globally. I'm proud of this accomplishment and look forward to continuing to expand our services internationally." About Xinergy Global: Xinergy Global is a business strategy consulting firm established in 2016 which focuses on assisting established companies expand their revenues by building and executing cost-effective global strategies. Backed by a unique methodology, Xinergy has assisted over 150 SMEs from around the world to mitigate risks and maximize success of global expansion. Xinergy offers rich expertise in a variety of industries. Learn more: Xinergy Global Web Site Xinergy Global LinkedIn
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eDriving Partners with Jerry to Secure Personal Car Insurance Savings for Mentor App Users
CAPE MAY, N.J., Oct. 19, 2021 /PRNewswire/ -- eDrivingSM, a Solera company, and leading global provider of digital driver risk management solutions, is helping commercial drivers save money on personal car insurance by incorporating Jerry into its award-winning smartphone app, MentorSM. Jerry first launched in 2019 with its AI- and machine-learning-based car insurance comparison service, and today serves more than 1 million customers across the United States as a licensed insurance broker. Mentor by eDriving dashboard with Jerry.com insurance savings offer (PRNewsFoto/eDriving) For Mentor users, Jerry is available in-app, and provides customized quotes from more than 50 insurance carriers in 45 seconds. "We're delighted to be expanding our value proposition to clients by offering Mentor with Jerry to those organizations keen to further engage their employees by helping them source personal insurance savings through their driver safety program," said Ed Dubens, CEO/ Founder of eDriving. "This is a fantastic way for companies to engage all employees, not just those who drive for work purposes, in their safety program, as well as family members too." Jerry customers find competitive rates, with the same or better coverage, averaging $800 annual savings on their personal car insurance premiums. Customers can also bundle their auto with home and renters insurance for even more savings. If a driver finds savings and decides to switch, Jerry handles the paperwork and cancels the prior policy. Mentor app users who request insurance quotes through Jerry do not receive emails, calls, or pop-up ads from third parties. "Jerry has brought ease and simplicity to comparing and buying car insurance," said Alex Chew, Head of Partnerships at Jerry. "The Mentor app is the ideal platform to offer that convenience to those who drive for work purposes and their families. Mentor already helps drivers embrace safety, and we are pleased to extend the offering by saving drivers time and money on personal car insurance too." eDriving's Mentor app is a smartphone-based digital driver safety program that identifies driver risk using a validated FICO® Safe Driving Score, and remediates risky behavior with training, coaching and gamification. Among other features, Mentor also incorporates an eco-driving indicator, plus Emergency Response Services, including Automatic Crash Detection and Personal SOS features powered by Sfara and Bosch. As with all eDriving programs and tools, Mentor operates within a highly secure, privacy-first environment, in which only driver data required for risk management is shared with the manager. No location data or individual trip data is visible beyond the driver. About Solera Solera is a global leader in risk and asset management data and software, empowering companies across the automotive and insurance ecosystem with trusted solutions to support connectivity across the vehicle value chain. Solera's solutions bring together customers, insurers, and suppliers, empowering smarter decision-making through service, software, enriched data, proprietary algorithms, and machine learning that come together to deliver insight and are designed to ensure customers' vehicles and property are optimally maintained and expertly repaired. Solera serves over 235,000 customers and partners in more than 90 countries across six continents. By drawing on the market-leading solution capabilities and business process best practices from its technologies around the world, Solera provides unsurpassed scale and strength with superior performance while delivering innovation to move the industry forward. About eDrivingeDriving helps organizations around the world to reduce incidents, collisions, injuries, license violations, carbon emissions, and total cost of fleet ownership through its patented digital driver risk management programs. At its heart is the Mentor by eDrivingSM smartphone app that identifies risky driving behaviors for intervention and safe driving habits for recognition. In-app features include micro-training and coaching, gamification, collision reporting, vehicle inspections, and an individual FICO® Safe Driving Score validated to predict the likelihood of being involved in a collision. Mentor's integrated automatic crash detection and Personal SOS features powered by Sfara and Bosch trigger a voice call and emergency support, as needed, from one of Bosch's Global Call Centers supporting >50 countries. Through its five-stage, patented Crash-Free Culture® risk reduction methodology, eDriving helps organizations embrace safety and reduce risk for Sales, Service, Delivery and Warehouse drivers, all within a privacy-first, data-secure environment. eDriving is the digital driver risk management partner of choice for many of the world's largest organizations, supporting over 1.2 million drivers in 125 countries. Over the past 25 years, eDriving's research-validated programs have been recognized with over 100 awards around the world. Visit www.edriving.com About Jerry Services, Inc.Jerry saves you time and money on your car expenses. Jerry first launched its AI- and machine-learning-based car insurance comparison service in 2019 and today serves more than 1 million customers as a licensed insurance broker in all 50 states. For more information or to save money on car insurance, visit getjerry.com or download the Jerry app in the App Store or Google Play. Media Contact: Julie Farmer julie.farmer@edriving.com +44 7912 265691Related Links :http://edriving.com
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Zenix Enters into Definitive Agreement for "Going Private" Transaction
BEIJING, Oct. 19, 2021 /PRNewswire/ -- China Zenix Auto International Limited (OTC: ZXAIY) (the "Company"), one of the largest commercial vehicle wheel manufacturers in China in both the aftermarket and OEM market by sales volume, today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with Newrace Limited ("Parent"). Pursuant to the Merger Agreement, a British Virgin Islands company limited by shares and a wholly owned subsidiary of Parent to be formed promptly after the date hereof ("Merger Sub") will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the "Merger"), in a transaction implying an equity value of the Company of approximately US$55.755 million. Pursuant to the Merger Agreement, at the effective time of the Merger, each ordinary share of the Company (each a "Share") issued and outstanding immediately prior to the effective time of the Merger will be cancelled and cease to exist, in exchange for the right to receive US$0.27 in cash per Share (the "Per Share Merger Consideration") without interest, other than (a)(i) Shares held by Parent, Merger Sub and their affiliates; (ii) Shares held by the depositary and reserved for issuance, settlement and allocation pursuant to any incentive plan of the Company, and (iii) Shares beneficially owned by the Company or any of its subsidiaries or held in the Company's treasury ((i), (ii) and (iii) collectively, the "Excluded Shares") which will be canceled and cease to exist without payment of any consideration, (b) Shares held by holders who have validly exercised and not withdrawn or lost their rights to dissent from the Merger pursuant to Section 179 of the BVI Companies Act (collectively, the "Dissenting Shares"), which will be canceled and cease to exist in exchange for the right to receive payment of the fair value of such Dissenting Shares in accordance with Section 179 of the BVI Companies Act, and (c) Shares represented by ADSs. Each American depository share of the Company (each, an "ADS"), representing four Shares, issued and outstanding immediately prior to the effective time of the Merger, together with the Shares represented by such ADSs, will be cancelled in exchange for the right to receive US$1.08 in cash per ADS without interest. The merger consideration represents a premium of approximately 390.9% to the closing price of the ADSs on August 9, 2021, the last trading day prior to the Company's announcement of its receipt of the preliminary non-binding "going-private" proposal from Mr. Jianhui Lai and Parent, and premiums of approximately 224.6% and 219.2% to the volume-weighted average trading price of the ADSs during the 60 trading days and 90 trading days, respectively, prior to and including August 9, 2021. The Per Share Merger Consideration also represents an increase of approximately 20.0% over the US$0.225 per Share initially offered in the "going-private" proposal from Parent and Mr. Jianhui Lai. The merger consideration will be funded through cash contribution by Parent and its affiliates (the "Buyer Group"). The Company's board of directors, acting upon the unanimous recommendation of a committee of independent directors established by the board of directors (the "Special Committee"), approved the Merger Agreement and the Merger, and resolved to recommend that the Company's shareholders vote to authorize and approve the Merger Agreement and the Merger. The Special Committee negotiated the terms of the Merger Agreement with the assistance of its financial and legal advisors. The Merger is currently expected to close during the first quarter of 2022 and is subject to customary closing conditions, including the approval of the Merger Agreement by the affirmative vote of shareholders representing a majority of the voting power of the outstanding Shares (including Shares represented by ADSs) present and voting in person or by proxy at a meeting of the Company's shareholders. Parent has agreed to vote and cause to be voted all Shares beneficially owned by it and its affiliates, which represent approximately 69.53% of the voting rights attached to the outstanding Shares as of October 18, 2021, in favor of the authorization and approval of the Merger Agreement and the Merger. If completed, the Merger will result in the Company becoming a privately held company wholly owned by Parent and its ADSs (including Shares underlying the ADSs) will no longer be registered under the Securities Exchange Act, and the Company will cease to have reporting obligations to the U.S. Securities and Exchange Commission (the "SEC"). Duff & Phelps, A Kroll Business operating as Kroll, LLC is serving as the financial advisor to the Special Committee. Gibson, Dunn & Crutcher LLP is serving as U.S. legal counsel to the Special Committee. Zhong Lun Law Firm is serving as legal counsel to the Buyer Group. Campbells LLP is serving as British Virgin Islands legal counsel to the Buyer Group. Additional Information About the Merger The Company will furnish to the U.S. Securities and Exchange Commission a current report on Form 6-K regarding the Merger, which will include as an exhibit thereto the Merger Agreement. All parties desiring details regarding the Merger are urged to review these documents, which will be available at the SEC's website (http://www.sec.gov). In connection with the Merger, the Company will prepare and mail a Schedule 13E-3 Transaction Statement (the "Schedule 13E-3") to its shareholders. The Schedule 13E-3 will be filed with the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE SCHEDULE 13E-3 AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE MERGER, AND RELATED MATTERS. In addition to receiving the Schedule 13E-3 by mail, shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the Merger, and related matters, without charge from the SEC's website (http://www.sec.gov). About China Zenix Auto International Limited China Zenix Auto International Limited is one of the largest commercial vehicle wheel manufacturers in China in both the aftermarket and OEM market by sales volume. The Company offers more than 800 series of aluminum wheels, tubed steel wheels, tubeless steel wheels, and off-road steel wheels in the aftermarket and OEM markets in China and internationally. The Company's products are primarily sold to large PRC commercial vehicle manufacturers and exported to over 54 distributors in more than 24 countries worldwide. With six large, strategically located manufacturing facilities in multiple regions across China, the Company has a designed annual production capacity of approximately 15.5 million units of steel and aluminum wheels as of March 31, 2021. For more information, please visit: www.zenixauto.com/en. Safe Harbor Statement The Company may make written or oral forward-looking statements in periodic reports filed with the SEC, annual reports to shareholders, press releases such as this announcement, other written materials furnished to investors, and oral statements made by its officers, directors or employees. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. They can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these risks is included in the Company's annual Form 20-F filings with the SEC. The coronavirus outbreak, together with a deterioration of the general economic conditions and the automobile industry triggered by the outbreak in part, has adversely affected the financial position and operating results of the Company. The outbreak's impact on our supplier and customers, including disruptions and inefficiencies in the supply chain, could be unpredictable. For further information, please contact: Kevin TheissAwaken AdvisorsTel: +1-(212) 521-4050Email: kevin@awakenlab.com Related Links :http://www.zenixauto.com
