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GSR Capital Acquires Nissan’s Battery Business

Today, GSR Capital (“GSR”) announced that it has entered into a definitive sale and purchase agreement with Nissan Motor Co., Ltd. (“Nissan”) for the sale of Nissan’s electric battery operations and production facilities to GSR.

The acquisition covers Automotive Energy Supply Corporation (“AESC”), Nissan’s battery manufacturing operations in the US and UK, and part of Nissan’s battery development and engineering operations based in Japan.

Nissan’s battery operations comprise the full value chain from research & development, cell manufacturing, module/ pack assembly, and battery management systems. AESC’s lithium-ion batteries already power more than 270,000 Nissan LEAF vehicles, the best-selling electric vehicle in the world, with over 3.6 billion kilometers driven without a single critical incident since its introduction in 2010. Its manufacturing processes are also highly efficient with consistent high yields across its three plants. GSR aims to grow AESC as a pure-play battery supplier to Tier 1 automotive OEMs globally and will be selecting key local partners for expansion in Europe and China.

Sonny Wu, Chairman of GSR Capital, added: “The acquisition of AESC represents an important step for us in the new energy vehicle industry chain. We plan to further invest in R&D, expand existing capacities in the U.S., U.K., Japan, and also establish new facilities in China and Europe to better serve global customers with our global supply chain capabilities and safety first engineering DNA.”

“We are also particularly impressed with the track record and capabilities of the senior management team and employees. GSR is eager for the continued leadership of the current executive team to drive forward the long term success of the business. We are also offering continued employment to the company’s employees and also are seeking ways to expand employment opportunities in the communities in which the business operates. We are committed to not causing any changes to the current workforce, nor will we seek to close or relocate any sites and there will be no job losses caused by this transition.”

GSR will be joined by other limited partners including Hong Kong private investment firms, Hong Kong conglomerates and other industrial investors in making this acquisition.

Following the completion of the transaction, GSR intends to expand the scale of existing production facilities in Japan, UK and the US to cater to new customers. GSR also intends to open new production facilities in China, enabling AESC to serve the fast-growing Chinese market for electric vehicle batteries and stationary lithium-ion batteries. This will provide AESC a unique presence in all major automotive markets globally, differentiating itself from its key competitors.

Today’s announced transaction is subject to normal consultation with staff representative bodies and successful completion of pending regulatory approvals.  The transaction is contingent on GSR concluding purchase of all shares in NEC Energy Devices, Ltd. from NEC Corporation. Financial terms have not been disclosed.

About GSR Capital

GSR Capital is a leading private investment fund with offices in BeijingHong Kong and Palo Alto. The firm focuses on investments in high growth sectors in electric vehicles, new energy, modern agriculture, healthcare and wireless technologies.
http://www.gsrcapital.com/en

Contact

Jeffrey Fanlong Meng
jeff@gsrcapital.com

Chelli Chan
chelli@gsrcapital.com

About Nissan Motor Co., Ltd.

Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, Infiniti and Datsun brands. In fiscal year 2016, the company sold 5.63 million vehicles globally, generating revenue of JPY11.72 trillion. Nissan engineers, manufactures and markets the world’s best-selling all-electric vehicle in history, the Nissan LEAF. Nissan’s global headquarters in Yokohama, Japan, manages operations in six regions: ASEAN & Oceania; AfricaMiddle East & IndiaChinaEuropeLatin America and North America. Nissan has a global workforce of 247,500, and has been partnered with French manufacturer Renault under the Renault-Nissan Alliance since March 1999. In 2016 Nissan acquired a 34% stake in Mitsubishi Motors, which became the third full member of the Alliance – a grouping with combined annual unit sales of almost 10 million units a year.

SOURCE GSR Capital

CONTACT: Bian Li, +86-18621363816, li.ban@merlionpr.com

OTA Insight to Provide Innovative Rate Intelligence Tools for Best Western® Hotels & Resorts

Best Western Hotels & Resorts has selected OTA Insight to provide its industry-leading revenue maximisation tools to its global business.

OTA Insight’s innovative rate intelligence platform will help drive Best Western®’s revenue strategy by supplying real-time dashboard and benchmarking tools to increase profitability. Best Western will benefit from OTA Insight’s state-of-the-art rate parity and online visibility tools. The solution will enable Best Western to monitor locally targeted online travel agency promotions and help ensure the best rate is always available on Best Western’s direct hotel website.

As part of the partnership, Best Western will also have access to OTA Insight’s latest development, a ground-breaking new parity dashboard within the platform that will allow global chains to streamline and effectively manage pricing across all channels and properties from a head office level. The dashboard will help Best Western monitor rate parity and, in turn, work with individual properties to alleviate any pricing challenges.

OTA Insight’s intuitive rate parity and online visibility tools will be used to monitor Best Western’s portfolio of hotels around the world, including global brands: Best Western, Best Western Plus®, Best Western Premier®, Vīb®, GLō®, BW Premier Collection® and Executive Residency by Best Western®.

“We’re looking forward to introducing our rate management tools to another globally recognised hotel group,” said OTA Insight CEO and Founder Adriaan Coppens. “I am thrilled to be collaborating with Best Western to help deliver more profitable revenue strategies thanks to the support of our technology. Best Western Hotels & Resorts will benefit from our clever rate parity tool and brand new parity dashboard to monitor live pricing, solve rate issues and execute pricing strategies accordingly.”

“Following an extensive search for a partner who could meet our needs, we determined that OTA Insight would provide us with a dynamic market-leading data analytics solution,” said Best Western Hotels & Resorts Senior Vice President and Chief Operations Officer Ron Pohl. “The platform allows us to monitor data in real-time to stay ahead of competitors in this complex and fast-paced online distribution space. We’re very excited about the potential of this partnership with OTA Insight as we strive to optimize distribution and deliver higher RevPAR to our hotels.”

OTA Insight provides accommodation revenue management tools including an innovative cloud-based revenue maximisation solution for hotels, resorts, apartments, hostels and accommodation businesses across the globe. The company’s industry-leading tools are built on the latest business intelligence and data technologies. The dashboard and reporting function ensures that accommodation businesses can maximise occupancy and are always competitively priced.

For more information on OTA Insight visit http://www.otainsight.com .

SOURCE OTA Insight

CONTACT: Siren Communications: +44(0)20-7759-1150, Emma Wayman – emma.wayman@sirencomms.com, Stacey Stockwell – stacey.stockwell@sirencomms.com

Advanced Semiconductor Engineering, Inc. Announces Monthly Net Revenues

ADVANCED SEMICONDUCTOR ENGINEERING, INC. (NYSE: ASX, TAIEX: 2311, “ASE” or the “Company”), announces its unaudited consolidated net revenues for July 2017.

CONSOLIDATED NET REVENUES (UNAUDITED)

Jul

Jun

Jul

Sequential

YoY

(NT$ Million)

2017

2017

2016

Change

Change

Net Revenues

22,232

23,078

21,587

-3.7%

+3.0%

Jul

Jun

Jul

Sequential

YoY

(US$ Million)

2017

2017

2016

Change

Change

Net Revenues

732

767

671

-4.6%

+9.1%

Net revenues for the ATM assembly testing and material business are as follows:

ATM NET REVENUES (UNAUDITED)

Jul

Jun

Jul

Sequential

YoY

(NT$ Million)

2017

2017

2016

Change

Change

Net Revenues

13,672

13,410

13,975

+2.0%

-2.2%

Jul

Jun

Jul

Sequential

YoY

(US$ Million)

2017

2017

2016

Change

Change

Net Revenues

450

446

435

+1.0%

+3.6%

Safe Harbor Notice:

This press release contains “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this press release. Our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including risks associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the uncertainties as to whether we can complete the share exchange contemplated by a joint share exchange agreement between Siliconware Precision Industries Co., Ltd. and us; the strained relationship between the Republic of China and the People’s Republic of China; general economic and political conditions; the recent global economic crisis; possible disruptions in commercial activities caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors.  For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including our 2016 Annual Report on Form 20-F filed on April 21, 2017.

IR Contact:

Iris Wu, Manager

irissh_wu@aseglobal.com

Tel: +886.2.6636.5678

http://www.aseglobal.com

Grace Teng, Manager

grace_teng@aseglobal.com

Tel: +886.2.6636.5678

SOURCE Advanced Semiconductor Engineering, Inc.

RELATED LINKS
http://www.aseglobal.com

Nexteer Opens New Branch Office in Japan

Nexteer Automotive, a global leader in intuitive motion control, today opens a new Branch Customer Service Center (CSC) in Atsugi, Japan. The Atsugi Branch CSC will focus on application Engineering projects and coordinate global resources to expand support for Nissan and the Renault-Nissan-Mitsubishi Alliance.

Before the opening of this new Atsugi Branch CSC, Nexteer has been operating a Tokyo CSC near Shinagawa which plays the important role as a Japanese customers interface of sales, engineering, quality and program management since 2008.

As a leader in Intuitive Motion Control, Nexteer supplies steering systems, driveline systems as well as advanced driver assist systems (ADAS) and autonomous technologies for over 50 customers in every major region of the world.

James Burghardt, Engineering Director and Customer Service Centers Director of Nexteer Asia Pacific remarked the opening of Atsugi Branch CSC, “Our relationship with Nissan-Mitsubishi has grown over the years, and it is gratifying that our customers view us as a strategic partner around the globe. With the combined local support from Atsugi Branch CSC and Tokyo CSC, Nexteer continues to provide perfect quality, quick responsiveness and reliable service for Japanese OEMs in Japan.”

“Guided by our customer-oriented culture, we have chosen to add our new Branch CSC in Atsugi to be closer to our customers and to provide more effective services. As always, we will focus on sustainable relationships and strive to grow together with our customers”, said Li Jun, Chief Operating Officer of Nexteer Asia Pacific.

ABOUT NEXTEER

Nexteer Automotive — A Leader in Intuitive Motion Control — is a multi-billion-dollar global steering and driveline business delivering electric and hydraulic power steering systems, steering columns, driveline systems as well as advanced driver assist systems (ADAS) and autonomous technologies for original equipment manufacturers. The company’s global workforce of over 13,700 serves more than 50 customers in every major region of the world. The company has 25 manufacturing plants, three regional engineering centers and 11 customer service centers strategically located in North and South AmericaEurope and Asia. Nexteer Automotive’s customers include BMW, Fiat Chrysler, Ford, GM, PSA Group, Toyota, VW, as well as automakers in India and Chinawww.nexteer.com

Photo – https://photos.prnasia.com/prnh/20170808/1914936-1

SOURCE Nexteer Automotive

CONTACT: Summer Hou Director Corporate Affairs Asia Pacific, Tel: +86 21 22157108, Mobile: +86 18616182177, E-mail: summer.hou@nexteer.com

Hangzhou Just Biotherapeutics, Ltd. Secures Closing of Series B Financing

Dedicated to developing global antibody and recombinant protein bio-therapeutics, Hangzhou Just Biotherapeutics, Ltd. (Just China), today announced the completion of its Series B funding round.

Temasek, an investment company headquartered in Singapore, leads the financing followed by existing investors Lilly Asia Ventures (LAV) and ARCH Venture Partners. New investors also include Taikang, Hangzhou Economic & Technological Development Area (HEDA), Bank of China (BOC) and Bank of Hangzhou.

“The successful Series B financing indicates the continual faith of existing investors in Just China. We are also thankful to our new investors for their strong support,” said Dr. Yining ZHAO, Co-founder and CEO of Just China. “Healthcare innovation in China has already entered into a new era. With joint efforts from all parties, Just China is committed to demonstrating the innovation in our products and business model, to truly accomplish our mission of providing good quality biotherapeutics for all.”

Located in the Hangzhou Economic & Technological Development Area, Just China’s world-class R&D and manufacturing facility will be completed by the end of this year and operational in the first quarter of 2018. Construction and operations of the production center strictly adhere to cGMP standards and will be fully compliant with any country’s regulations and guidelines for biopharmaceutical manufacturing.

Globally, Just China has already established clinical development and CMC capabilities with a strong pipeline consisting of both bionovel and biosimilar products. Several leading programs will start to enter clinical stage in 2018.

Just China was founded in February 2016 as a joint venture with Just Biotherapeutics, Inc. (Just), located in Seattle, Washington, USA. As an affiliate, Just China will have access to Just’s integrated technology platform, J.DESIGN, and will closely partner with Just to evolve the platform. Applying J.DESIGN technology to molecule, process, product, manufacturing and plant design will enable Just China to develop biologics that meet global quality standards, while accelerating the development process and substantially reducing manufacturing cost.

About Just. Founded in 2014, Just is led by an experienced team in the fields of protein, process and manufacturing sciences. The Just team came together to solve the scientific and technical hurdles that block access to life changing protein therapeutics; from the design of therapeutic molecules to the design of the manufacturing plants used to produce them. Our focus and passion is to create access and value for a global market through scientific and technological innovation.

For more information on Just, please visit www.justbiochina.com.

About Temasek. Incorporated in 1974, Temasek is an investment company headquartered in Singapore. Supported by 10 offices internationally, Temasek owns a S$275 billion (US$197 billionEUR184 billionGBP158 billionRMB1.35 trillion)* portfolio as at 31 March 2017, mainly in Singapore and the rest of Asia.

Our portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; consumer & real estate; life sciences & agribusiness; as well as energy & resources. Our investment activities are guided by four investment themes and the long term trends they represent: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions.

For more information on Temasek, please visit www.temasek.com.sg

About Taikang: Founded in 1996, Taikang is a large insurance and financial service conglomerate. The company operates through three main businesses: insurance, asset management and health and elderly care. Taikang Insurance Group has a number of subsidiaries which include Taikang Life, Taikang Asset, Taikang Pension, Taikang Community, Taikang Health and Tk.cn. Its business scope covers a wide range of fields, such as life insurance, pension, enterprise annuity, online property and casualty insurance, asset management, health and elderly care, health management, commercial real estate and offshore businesses.

For more information on Taikang, please visit www.taikang.com.

SOURCE Hangzhou Just Biotherapeutics, Ltd.

CONTACT: Jingyuan QIN, Director, PR & Communication, Just Biotherapeutics China, +86-21-6237-0969-6676, jingyuan.qin@justbiochina.com

RELATED LINKS
http://www.justbiochina.com

Nexteer Opens New Branch Office in Japan

Nexteer Automotive, a global leader in intuitive motion control, today opens a new Branch Customer Service Center (CSC) in Atsugi, Japan. The Atsugi Branch CSC will focus on application Engineering projects and coordinate global resources to expand support for Nissan and the Renault-Nissan-Mitsubishi Alliance.

Before the opening of this new Atsugi Branch CSC, Nexteer has been operating a Tokyo CSC near Shinagawa which plays the important role as a Japanese customers interface of sales, engineering, quality and program management since 2008.

As a leader in Intuitive Motion Control, Nexteer supplies steering systems, driveline systems as well as advanced driver assist systems (ADAS) and autonomous technologies for over 50 customers in every major region of the world.

James Burghardt, Engineering Director and Customer Service Centers Director of Nexteer Asia Pacific remarked the opening of Atsugi Branch CSC, “Our relationship with Nissan-Mitsubishi has grown over the years, and it is gratifying that our customers view us as a strategic partner around the globe. With the combined local support from Atsugi Branch CSC and Tokyo CSC, Nexteer continues to provide perfect quality, quick responsiveness and reliable service for Japanese OEMs in Japan.”

“Guided by our customer-oriented culture, we have chosen to add our new Branch CSC in Atsugi to be closer to our customers and to provide more effective services.  As always, we will focus on sustainable relationships and strive to grow together with our customers”, said Li Jun, Chief Operating Officer of Nexteer Asia Pacific.

ABOUT NEXTEER

Nexteer Automotive  A Leader in Intuitive Motion Control  is a multi-billion-dollar global steering and driveline business delivering electric and hydraulic power steering systems, steering columns, driveline systems as well as advanced driver assist systems (ADAS) and autonomous technologies for original equipment manufacturers. The company’s global workforce of over 13,700 serves more than 50 customers in every major region of the world. The company has 25 manufacturing plants, three regional engineering centers and 11 customer service centers strategically located in North and South AmericaEurope and Asia. Nexteer Automotive’s customers include BMW, Fiat Chrysler, Ford, GM, PSA Group, Toyota, VW, as well as automakers in India and Chinawww.nexteer.com

Photo – https://photos.prnasia.com/prnh/20170808/1914936-1

SOURCE Nexteer Automotive

CONTACT: Summer Hou Director Corporate Affairs Asia Pacific, Tel: +86 21 22157108, Mobile: +86 18616182177, E-mail: summer.hou@nexteer.com

RELATED LINKS
http://www.nexteer.com/

NAVITIME JAPAN Launches “NAVITIME for Japan Travel” App for Taiwanese Tourists Visiting Japan, Enabling Information to Be Displayed in Traditional Chinese Characters Additionally

NAVITIME JAPAN Co., Ltd. launched on August 8 its latest “NAVITIME for Japan Travel” app, which is now capable of displaying travel information in traditional Chinese characters additionally. As a result, since the NAVITIME for Japan Travel app displays travel routes, searches Wi-Fi spots offline, and offers travel articles and information in traditional Chinese characters, traveling in Japan is now even easier for visitors from Taiwan.

“NAVITIME for Japan Travel” is NAVITIME JAPAN’s proprietary, multilingual app that can search travel routes and maps based on the company’s comprehensive Total NAVI (R) search engine, which is capable of searching sightseeing spots, free Wi-Fi hotspots, trains, buses, walking routes and other useful travel information while offline. When the NAVITIME for Japan Travel service was initially launched in October 2013, NAVITIME JAPAN continually enhanced the service based on the assumption that English-language services would be the mainstream. However, the company has since added other languages and is now pleased to launch this latest service, making it so much easier for Taiwanese visitors to travel in Japan by displaying information in traditional Chinese characters.

Japan is improving its tourist infrastructure to better welcome the rapidly increasing number of visitors from abroad. For example, various business sectors are now displaying signs in multiple languages and offering better means of transportation to sightseeing spots. In line with this growth in tourist numbers, NAVITIME JAPAN, too, is committed to enhancing its services for foreign visitors, doing its utmost to continually enhance its service content by displaying, for example, the optimum travel routes and most up-to-date and thorough sightseeing information as possible. As NAVITIME JAPANCEO and President Keisuke Onishi proudly stated, “We are pleased that our latest service launch now better supports our valued visitors from Taiwan, too, enabling them to have more enjoyable, more convenient and safer trips to Japan.”

Features of the NAVITIME for Japan Travel app designed especially for visitors to Japanhttp://prw.kyodonews.jp/prwfile/release/M104492/201707264081/_prw_PA1fl_1CsBFWKO.pdf

Introduction movie: https://youtu.be/UIZRdyzggMM

Image: http://prw.kyodonews.jp/img/201707264081-O1-6N9mx66e

NAVITIME for Japan Travel download:

– iOS: https://itunes.apple.com/tw/app/navitime-for-japan-travel-transit-wi-fi-search/id686373726?mt=8&l=zh-tw
– Android OS: https://play.google.com/store/apps/details?id=com.navitime.inbound.walk

Downloads FREE

About NAVITIME JAPAN Co., Ltd.
URL: http://corporate.navitime.co.jp/en/profile/index.html

SOURCE NAVITIME JAPAN Co., Ltd.

CONTACT: Chiho Sazanami, Ryoko Arika, Corporate Administration and Planning Division, NAVITIME JAPAN Co., Ltd., Tel: +81-3-3402-0711, Email: pr_n@navitime.co.jp

Carrier Celebrates the 115th Anniversary of Modern Air Conditioning — Highlights Innovations and Milestones

What do summer blockbuster movies, boxed chocolates and skyscrapers have in common? It wasn’t until modern air conditioning came to movie theaterscandy confectioners and high-rise office buildings that these industries flourished with the addition of cool, temperature-controlled air. Now, 115 years later, Carrier marks the anniversary of modern air conditioning by highlighting recent innovative advancements and milestones that make our technology relevant today and quite simply, cooler than ever. Carrier Vietnam Air Conditioning Company Limited is a part of Carrier, a world leader in high-technology heating, air-conditioning and refrigeration solutions, a part of UTC Climate, Controls & Security, a unit of United Technologies Corp. (NYSE: UTX).

“Carrier continues to develop new products and push the boundaries of smart technology. Beyond keeping people cool and comfortable, Carrier products are among the most energy-efficient products available today,” said Andrew Nguyen, managing director, Carrier Vietnam. “Through persistence, world-class engineering and a relentless commitment to innovation, Carrier is cooler than ever — and excited to deliver leading solutions to keep people around the world comfortable well into the future.”

Here are seven reasons to celebrate Carrier and our game-changing air conditioning technology.

7. Sustainable products. Globally, since 2000, Carrier products have avoided more than 225 million metric tons of carbon dioxide through advancements in energy efficiency, the equivalent of removing more than 47 million passenger vehicles from the road for one year. How cool is that?

6. Footprint in Vietnam. Established in 1994, Carrier opened offices in Ho Chi Minh City and Hanoi. In 1996, Carrier captured the contract for the tallest building in Hanoi and over the years, has continued to provide HVAC solutions to customers in various industries.

5. Our founder, Willis Carrier. The spirit of Willis Carrier, the inventor of modern air conditioning, is kept alive and well on williscarrier.com and on Twitter. Follow along with Willis as he shares the history and memorabilia surrounding the evolution of modern air conditioning.

4. The UTC Center for Intelligent Buildings. Carrier, and its industry-leading products, will be featured in the UTC Center for Intelligent Buildings, a first of its kind global customer experience center set to open later this year in Palm Beach Gardens, Florida.

3. Fostering a global dialogue. We believe that global dialogue can rebalance the built environment with the natural environment. We also believe that green building, which includes our high-efficiency air conditioning products, will accelerate with education. That’s why Carrier convenes the Distinguished Sustainability Lecture Series, in hopes that the discussions of today will help drive technological advancements and shape the decisions made for years to come. To date, the lecture series has reached over 3,850 professionals through 31 lectures in 19 cities across 15 countries. Events will be held later this year in Indonesia and India.

2. Carrier keeps food fresh and cool. Modern air conditioning paved the way for Carrier’s refrigeration technology for the transport and shipping of temperature controlled cargoes. Carrier understands that “fresh” is not simply about how recently produce was harvested or products were created. It is also about the conditions in which they have been transported. That is why Carrier provides transport refrigeration solutions that allow for precise control of temperature and humidity, preserving all types of perishable cargo no matter where it needs to go.

1. Carrier is constantly innovating. In fact, the air conditioning technology of the future is being developed right now. In 2016, United Technologies spent $3.7B on company and customer-funded research and development, supporting a variety of innovative new aerospace and building systems products including Carrier heating, cooling and refrigeration systems. That’s a lot of “cool”, hard cash.

Learn more about Carrier’s legacy of innovation, as well as the complete history of modern air conditioning, in Weathermakers to the World and on WillisCarrier.com. Follow @WillisCarrier on Twitter for more historic facts. Follow along on social media using the hashtag #carriercool.

About Carrier

Founded by the inventor of modern air conditioning, Carrier is a world leader in high-technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Carrier is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information, visit www.carrier.com or follow @Carrier on Twitter.

Contact:       

Hor Mei Peng
+65 6410-0111
Meipeng.hor@utc.com

Logo – https://photos.prnasia.com/prnh/20170801/1908203-1LOGO

SOURCE UTC Climate, Controls & Security

Intellicus Ranks 20th Among India’s Great Mid-Size Workplaces 2017

Maintaining its position as one of India’s best workplaces, Intellicus Technologies Pvt. Ltd., a leading business intelligence solutions company, has been ranked 20th in the list of India’s Great Mid-Size Workplaces -2017.

(Logo: http://mma.prnewswire.com/media/521678/Intellicus_Logo.jpg )

More than 600 organizations applied to Great Place to Work® Institute to assess and benchmark their workplace culture. The study, jointly conducted by Great Place to Work® Institute and MINT by HT Media, used two lenses to identify and evaluate workplaces with outstanding work cultures. The first lens is the quality of employee experience as measured through the institute’s globally validated survey instrument known as Trust Index©. The second lens, called the Culture Audit©, evaluates people practices of an organization, covering the entire employee life cycle.

Intellicus has been recognized for providing not only a stellar employee experience, but also for building a work culture that enables its employees to grow and achieve their professional aspirations. With its employee-friendly policies and open forums where employees can voice their opinions and suggestions, Intellicus has successfully built a conducive work environment.

Speaking on the achievement, Sanjeev Agrawal, VP – Operations & Human Empowerment Group said, “This award is a recognition of our culture of trust, respect, and transparency at Intellicus. As an organization, we strive to further raise the bar and deliver great experience to all our employees and partners.”

About Intellicus Technologies Pvt. Ltd.

Intellicus is one of the world’s leading Business Intelligence and Analytics platforms. More than 60% of Fortune companies are using Intellicus to build powerful reports and dashboards with ease. Our interactive web and mobile platforms give users the power to access, view, and interact with corporate data anywhere. With over 50,000 installations worldwide, we are assisting organizations to make better informed decisions. To learn more, visit: http://www.intellicus.com or write to: marketing@intellicus.com, and follow us on Twitter and LinkedIn.

Media Contact:
Shilpi Puri
Manager, Intellicus Technologies
marketing@intellicus.com
+91-9810802588

SOURCE Intellicus Technologies Pvt. Ltd.

Expenzing Featured in Gartner Market Guide for Travel Expense Management 2017

Expenzing, a leader in end-to-end expense management software solutions, announced that its Travel and Expense Management (TEM) solution is featured in the Gartner Market Guide for Travel Expense Management 2017 report. The report published by Gartner lists leading players providing TEM solutions worldwide along with their offering and capabilities.

(Logo: http://mma.prnewswire.com/media/542621/Expenzing_Logo.jpg )

The report provides insights on industry trends, market size and direction, and shares key findings and recommendations. Gartner mentions that cloud-based application offerings generally deliver the most functionality and provide the most modern end-user experience.

Expenzing offers specialized expense management software solutions on the cloud to help CFOs and procurement leaders bring in better financial controls in their organization. Expenzing helps organizations centralize and automate the expense management and procurement processes to achieve better visibility and control.

“We consider Expenzing inclusion in the Gartner TEM report as a recognition of maturity of our TEM product and marking the introduction of unique product features that are yet to be adopted by other global players”, said Ila Imani, CEO – Expenzing. She adds, “Expenzing Travel and Expense Management is a flexible and modular solution that can be used as a complete suite or as a stand-alone module. Expenzing’s broader spend management suite fills the ever-increasing gaps which traditional ERPs fall short on.”

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Expenzing:
Expenzing partners with organizations to facilitate, manage and control spend across the organization. Expenzing delivers process control software designed to save costs while continuously improving operations. Solutions include all aspects of spend and payment: right from sourcing, supplier management, procurement, e-invoicing, accounts payable to travel and expense management. Specialized solutions for asset management, imprest (petty cash management), and contracts are also part of the offerings. Expenzing has operations around the world in USA, LATAM, Middle East & AfricaSouth East Asia, including India. ​

To learn more about Expenzing, visit http://www.expenzing.com and connect on LinkedIn

Media Contact:
Divya Singh
Marketing Manager
Expenzing – Nexstep Infotech Pvt. Ltd.
marketing@expenzing.com
+91-22-33417400

 

SOURCE Expenzing

KBank and IBM Develop Blockchain-Based Letter of Guarantee Service

IBM (NYSE: IBM) and KASIKORNBANK Public Company Limited (KBank), one of Thailand’s largest banks, today announced the launch of a new enterprise Letter of Guarantee network based on IBM Blockchain. The new solution is designed to help simplify and expedite procedures for KBank’s Letter of Guarantee process, with the goal of improving the customer experience, strengthening security and reducing costs for clients and the bank.

With a more digitized, streamlined and transparent process enabled by blockchain, KBank’s enterprise Letter of Guarantee solution is completely paperless, allowing banks and customers to do with the click of a button what previously required paperwork. The transparency provided by blockchain can help eliminate forgery and provide efficient service delivery. The solution is designed so that a Letter of Guarantee process that previously took up to several days is now significantly shortened.

Letters of Guarantee issued via the commercial banking system in Thailand are expected to reach over $40 billion, increasing by 8 percent in 2017. Of that total, approximately $9 billion will be issued by KBank, which has the largest share of the market at 25 percent. KBank is targeting an increase in Letter of Guarantee issuance via electronic channel to 35 percent by the 2018 year-end, 5 percent of which will be processed via the blockchain.

“Blockchain technology is applied to create highly secure networks of document filing and retrieval,” said Pipit Aneaknithi, president of KBank. “As Thailand’s largest issuer of Letters of Guarantee, KBank is working with IBM to implement this innovative technology to further define and articulate our leadership in this market.”

Built on Hyperledger Fabric, a blockchain framework and one of the Hyperledger projects hosted by The Linux Foundation, the solution was tested in the Bank of Thailand’s regulatory sandbox and built to be able to scale up to meet an expected increase in Letters of Guarantee issuance through electronic channels. By offering a single, shared data structure, the solution is also expected to help deliver new business opportunities with other banks in the region.

“Blockchain reduces traditional transaction barriers and can help to improve business processes in the financial services sector and beyond,” said Parnsiree Amatayakul, managing director of IBM Thailand. “As IBM continues to support KBank’s important initiatives in blockchain, the value this technology can bring to the bank and its clients is becoming increasingly clear, and can redefine the way businesses in the region operate and grow.”

KBank provides banking services including personal and commercial banking, international trade, and investment banking services to its customers throughout Thailand. The bank has foreign branches in Los AngelesHong KongCayman Islands, and Shenzhen, and representative offices in ShanghaiBeijing, and Kunming. KBank also partnered with other business partners to pilot the use of Enterprise Letter of Guarantee on Blockchain service including Metropolitan Electricity Authority, Provincial Electricity Authority, PTT Global Chemical PLC, and PTT Polymer Marketing Company Limited.

About IBM
IBM is the leader in open-source blockchain solutions built for the enterprise. As an early member of Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies, IBM is dedicated to supporting the development of openly-governed blockchains. IBM has worked with more than 400 clients across financial services, supply chains, IoT, risk management, digital rights management and healthcare to implement blockchain applications. For more information about IBM Blockchain, visit www.ibm.com/blockchain.

Contact:
Holli Haswell
hhaswell@us.ibm.com
720-396-5485

SOURCE IBM

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E8 Storage’s E8-X24 Leverages Intel® Optane™ SSDs to Deliver Extreme Performance and Ultra-Low Latency

E8 Storage today announced its E8-X24 centralized NVMe appliance, which utilizes Dual Port Intel® Optane™ SSDs to deliver extreme storage performance and ultra-low latency for mission-critical applications. E8 Storage is the first vendor in the industry ready to deliver shared memory cache storage based on Storage Class Memory SSDs for Tier 0 performance.

The combination of Intel’s Optane™ high-speed, non-volatile solid-state storage and E8 Storage’s E8-X24 high-performance centralized NVMe solution is a powerful storage offering that is uniquely suited for applications such as real-time, high-volume trading. The Tel Aviv Stock Exchange (TASE) is one such customer that is currently examining E8 Storage’s E8-X24 centralized storage appliance and software stack in its data center.

“E8 Storage allows us to build a shared storage solution with latency that rivals in-memory database clusters, but unlike in-memory solutions it allows us to scale capacity easily as well as share volumes between many nodes in the Tel Aviv Stock Exchange cluster,” said Uri ShavitSVP, CIO, IT and Operations Departmentthe Tel Aviv Stock Exchange. “E8 Storage’s solution, coupled with Dual Port Intel® Optane™ SSDs, has a potential in the field of high-frequency trading and represents a new breed of storage product that we have not seen before. The Tel Aviv Stock Exchange has always adopted state-of-the art technology, and we have very stringent reliability and supportability requirements. We are pleased to evaluate this innovative solution from E8 Storage and Intel to meet our needs for ultra-low latency storage and further expand our capabilities for TASE investors.”

“One of the strongest features of E8 Storage’s architecture is the ability to introduce the latest SSD technology while maintaining extreme performance and high availability,” said Zivan Ori, CEO and Co-Founder, E8 Storage. “Dual Port Intel® Optane™ SSDs are a perfect fit for our shared NVMe solution, and E8 Storage allows most innovative customers like the Tel Aviv Stock Exchange, to introduce these new SSDs into their applications without any modification to their existing infrastructure.”

E8 Storage now offers a range of performance options to suit customers’ needs. The ability to provide storage for memory cache replacement as well as datastores – both within a single appliance or dedicated appliances – gives enterprises the flexibility to choose the right deployment model for their specific requirements. The E8-X24 is available for testing with select customers; for more details please contact info@e8storage.com.

About E8 Storage

E8 Storage provides the industry’s first-ever centralized NVMe enterprise storage solution, delivering simple, centralized storage management at the speed of local SSDs. The company’s rack-scale all-flash arrays are ideally suited for the most demanding mission-critical workloads needing performance without compromise, including real-time analytics, financial and trading applications, and transactional processing. E8 Storage’s next-generation high-performance flash storage delivers 10 times the performance at half the cost of existing storage products, is easily upgradeable and expandable, and enables consolidation to increase SSD utilization to over 90%. Privately held, E8 Storage is based in Santa Clara with R&D in Tel Aviv, and channel partners throughout the US and Europe. For more information, please visit http://www.e8storage.com, and follow us on Twitter @E8Storage and LinkedIn.

Press Contacts:
Maya Lustig, E8 Storage
maya@e8storage.com
+972-54-6778100

Michelle Allard McMahon/Candice Perodeau
E8Storage@rainierco.com
508-475-0025

About the Tel Aviv Stock Exchange (TASE)

The Tel Aviv Stock Exchange Ltd. was founded in September 1953. The TASE group, which consists of the stock exchange, the TASE Clearing House and the Derivatives Clearing House, provides local and international investors with trading and clearing in securities, including stocks, corporate bonds, government bonds, index-tracking products and derivatives. The Tel Aviv Stock Exchange is home to over 450 listed companies, with a total market value of approximately USD 225 billion, 600 corporate bonds and 690 ETFs. For further information: http://www.tase.co.il

Press Contacts:
Orna Goren, Head of Marketing & Communications Unit, the Tel-Aviv Stock Exchange
ornag@tase.co.il
+972-76-8160405

Yael Arnon-Livne, Sherf Communications
yaela@scherfcom.com
+972-52-7202703

 

SOURCE E8 Storage

The Peninsula Boutique and La Compagnie Du Kraft Introduce a New Collection of Handcrafted Notebooks

The Peninsula Boutique and La Compagnie du Kraft join hands to create a modern classic — introducing a collection of handcrafted notebooks constructed from stylish, yet sturdy vegetal tanned leather and pure virgin fibre paper from France.

Classic, sophisticated, reliable — these are traits that differentiate the legendary from the ordinary. This collaboration between The Peninsula and La Compagnie du Kraft is representative of both heritage and excellence, presented through the finest handcrafted leather notebooks. They are the perfect place for treasured thoughts, musings and memories.

Featuring three different colours: Chic Green, Cool Brown and Classic Red in a variety of sizes, the delicate de-bossed fleur de lys pattern on the cover was inspired by the motifs from The Lobby at The Peninsula Hong Kong. Using the finest leather that will age with time, each of these notebooks is assembled by artisans in FranceGift set with pencils and paper refills is also available.

For a notebook of a lifetime, send a personalised La Compagnie du Kraft gift with hot stamping available exclusively from peninsulaboutique.com.

Leather Notebook — Chic Green — 107 x 150 mmHK$ 395
Reflecting the signature colour of the hotel’s renowned Rolls-Royce fleet, this pocket-sized notebook is handy for jotting down notes or keeping memories and treasured thoughts.

Leather Notebook — Cool Brown — 107 x 150 mmHK$ 395
This cool brown leather notebook is perfect for that scholarly look.

Leather Notebook — Chic Green — 150 x 210 mmHK$ 595
Reflecting the signature colour of the hotel’s renowned Rolls-Royce fleet, this easy-to-carry notebook is perfect for travel and keeping a record of special thoughts.

Leather Notebook — Classic Red — 150 x 210 mmHK$ 595
This classic red leather notebook lends an air of finesse, perfect for travel and keeping a record of special thoughts.

Leather Notepad — Classic Red — 135 x 200 mmHK$ 565
Inserted with pure virgin fibre paper, this classic red notepad is ideal for travelling, writing a diary and storying thoughts and special moments.

Leather Notepad — Cool Brown — 135 x 200 mmHK$ 565
For that perfect scholarly look, this cool brown notepad is ideal for travelling, writing a diary and storying thoughts and special moments.

Notebook Refill (107 x 150 mm HK$ 115 / 135 x 200 mm HK$ 155 / 150 x 210 mm HK$ 165)
Keep the treasured notebook restocked simply by unscrewing the binding to refill the paper so customers can continue to record thoughts and allow the natural leather cover to age as time goes by.

Leather Notebook Gift SetHK$ 525
Leather Notebook — Chic Green — A6 (1 pc), Notebook Refill A6 (1 pc), Pencils (4 pcs)
This classic gift set combines a small chic green leather notebook with four pencils and paper refill — a thoughtful gift for those who love writing.

For more information or to place orders, please visit The Peninsula Boutique, The Peninsula Arcade, Salisbury Road, Tsim Sha TsuiKowloon or enquire by phone +852-2696-6969, fax +852-2696-6973; opening hours: 9:30 am to 7:30 pm. Or visit The Peninsula Boutique at Shop 7E144, Level 7, East Hall, Terminal 1 (Restricted Area), Hong Kong International Airport, New Territories (in the “I Love Hong Kong” retail zone); enquire by phone at +852-2812-0421, fax +852-2812-0432; opening hours: 7:00 am to 11:00 pm. E-mail hongkongtpb@peninsula.com or visit www.peninsulaboutique.com.

About Peninsula Merchandising Limited

A subsidiary of The Hongkong and Shanghai Hotels, Limited, Peninsula Merchandising Limited distributes Peninsula merchandise and licences Peninsula Boutiques in key gateways of Asia.

The Peninsula Boutique outlets are located at The Peninsula Hotels in Hong KongBeijingShanghaiTokyo (Boutique & Cafe), ManilaBangkok and Chicago. Peninsula merchandise is also available at The Peninsula Boutiques throughout Asia in leading department stores and shopping malls in Hong KongTaiwan and online delivery in Hong Kong, Korea and Taiwan at peninsulaboutique.com.

About The Hongkong and Shanghai Hotels, Limited

Incorporated in 1866 and listed on the Hong Kong Stock Exchange (00045), The Hongkong and Shanghai Hotels, Limited is the holding company of a group which is engaged in the ownership, development, and management of prestigious hotels and commercial and residential properties in key locations in Asiathe United States and Europe, as well as the provision of tourism and leisure, club management and other services. The Peninsula Hotels portfolio comprises The Peninsula Hong Kong, The Peninsula Shanghai, The Peninsula Beijing, The Peninsula Tokyo, The Peninsula New York, The Peninsula Chicago, The Peninsula Beverly Hills, The Peninsula Bangkok, The Peninsula Manila and The Peninsula Paris. Projects under development include The Peninsula London and The Peninsula Yangon. The property portfolio of the group includes The Repulse Bay Complex, The Peak Tower, The Peak Tramways and St. John’s Building in Hong Kong; The Landmark in Ho Chi Minh City, Vietnam; the Thai Country Club in Bangkok, Thailand, and 21 avenue Kleber in Paris, France.

For further information, please contact:
Ms Lamey Chang
Manager, Communications
Peninsula Merchandising Limited
Suite 1002, Tower 6, China Hong Kong City
33 Canton Road, Tsim Sha TsuiKowloon, Hong Kong
Telephone: +852 2193 6610
Facsimile: +852 3007 2131
Email: lameychang@peninsula.com
Website: www.peninsulaboutique.com

Photo – https://photos.prnasia.com/prnh/20170807/1914808-1

SOURCE Peninsula Merchandising Limited

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A MATRIX Chain Seeking to Define Blockchain 3.0 by Incorporating Blockchain and AI

A few days ago, a blockchain called “MATRIX Chain”, which several Chinese scientists have played a leading role in the research and development, made a splash in its sector. By incorporating artificial intelligence (AI) into the underlying data chain, the innovation has made this blockchain smarter, easier to use, and capable of evolving constantlythrough self-learning.

Starting with the underlying technology of blockchain

According to MATRIX’s AI chief scientist Deng YangdongMATRIX Chain, as a new generation of blockchain with AI, can dynamically update the parameters for various blockchains so as to realize self-evolution. Furthermore, MATRIX Chain can also address the issues during the finalization of the current blockchain designs and the inflexibility in adjusting various blockchain parameters. For this, MATRIX Chain could be deemed as blockchain 3.0.

Automatically discriminating loopholes in transactions 

“Smart contracts of MATRIX Chain are dedicated to address the above issues for which the solution is a conventional centralized system,” explained Li QinghuaMATRIX’s chip and software architecture chief scientist. With the introduction of AI models based on the principle of non-discrimination, the smart contracts of MATRIX Chain enable the automatic judgment on the reasonability of transaction models, the automatic detection on loopholes in transactions, and the execution of a civilized process of transactions under contracts. Furthermore, with built-in AI transaction models, and upon the approval of users, unreasonable transactions will be automatically refused, establishing a rule for MATRIX Chain transactions.

Setting up a blockchain that everyone knows how to use

By incorporating AI-based algorithm, MATRIX Chain is able to solve many non-linear and more complicated problems, largely lowering the barrier to application and thus significantly improving the scope of application of blockchain technology.

Deng said that quasi-Ethereum smart contracts are more like an exclusive application for a small group of technicians who are familiar with codes than a generic one for ordinary users. However, after AI has been incorporated, the only operation ordinary users need to do to generate a smart contract is to type in the transaction objective and textual description of transaction conditions, making smart contract service easily accessible for everyone.

SOURCE MATRIX

CONTACT: Neo, +86-186-1146-6297, neo@matrix.space

MoneyGram Grows in Japan

MoneyGram today launched its money transfer services at 18 locations managed by City Express Money Transfer (“City Express”). Thanks to this collaboration, the number of MoneyGram touchpoints across Japan has increased to nearly 50.

According to the World Bank, over $8.8 billion in remittances flowed out of Japan in 2016 mainly to China ($4.1 billion), South Korea ($1.7 billion), and the Philippines ($1 billion). To meet the growing demand for money transfer services, MoneyGram recently expanded its network in Japan with locations providing greater coverage of key prefectures, including TokyoSaitamaIbaraki and Tochigi.

Japan is a significant send market in the Asia Pacific region and one of the key countries for MoneyGram,” said Yogesh Sangle, MoneyGram’s head of Asia Pacific. “The agreement with City Express, one of the fastest growing remittance companies in Japan, reinforces our strategy to bring more convenient options to our customers to send or receive funds whether in cash or directly to their bank account,” added Sangle.

“With MoneyGram we can offer our customers a money transfer service that is fast and reliable. This collaboration demonstrates our commitment to offer our customers the right partner to send funds to their loved ones around the globe,” said Mahesh Kumar Shrestha, President and CEO of City Express Money Transfer Japan.

For more information about MoneyGram services in Japan, please visit moneygram.jp

#moneygramnews

About MoneyGram International, Inc.
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.

Media Contact:
Maria Bankiet-Kamińska
MoneyGram
Tel: + 48  22 377 2185
Mob: + 48 885 889 696
Mail: MBankietKaminska@moneygram.com

Logo – https://mma.prnewswire.com/media/251082/moneygram_logo.jpg

SOURCE MoneyGram International, Inc.

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A MATRIX Chain Seeking to Define Blockchain 3.0 by Incorporating Blockchain and AI

Blockchain is definitely a hotspot of today’s cutting-edge technologies in the world, and a variety of innovations are constantly emerging. However, while most of the technology focuses on token issuance and commercial applications, those on the fundamental technology of blockchain – Data Chain are very rare. When most of the people still think that blockchain is new, there is a group of Chinese people who have already set eyes on the next generation of blockchain technology.

A few days ago, a blockchain called “MATRIX Chain”, in which several Chinese scientists played a leading role in the research and development, made a splash in its sector. By incorporating artificial intelligence (AI) into the underlying data chain, the innovation has made this blockchain smarter, easier to use, and capable of evolving constantly through self-learning. Several new points of the concept of “MATRIX Chain” have attracted broad attention in the industry since its proposal.

Starting with the underlying technology of blockchain

“Now, artificial intelligence is not only the most popular term in high technology, but also the most important technology that has been acknowledged as the future direction of scientific and technological development,” Deng Yangdong, chief scientist of MATRIX on AI, indicated that the combination of blockchain technology with AI represents the future direction of blockchain development.

Deng Yanddong is associate professor of Tsinghua University, and also a renowned artificial intelligence scholar in China. He had acted as a team leader to win the first place in Pascal Artificial Intelligence International Competition. It has always been one of his great ambitions to combine the technologies of artificial intelligence with blockchain and advance the actual application of these two technologies.

For some of the currently popular blockchains, when a chain is set after research and development, its core parameters will be fixed accordingly. With the changes in service targets and in external environment, however, many parameters will have difficulties in its applications. For instance, because the size of block for bitcoin was set at 1 Mbyte, and the time for a single mining process at 10 minutes, the conditions at the initial stages were relatively relaxed. Since 2016, online transactions have become very intensive, and most of the intensive commercial transactions are not suitable to be carried out with bitcoins.

As the earliest version of blockchain technology, bitcoin can be called the first generation of blockchain technology, or blockchain 1.0, but during the initial design of bitcoin, no consideration had been given to the larger-scale application of this technology later onMining and establishment of a distributed ledger turned to be the core of bitcoin, which resulted in a very low commercial scalability and efficiency.

In order to solve the problem, Ethereum emerges. With smart contracts as its core, Ethereum provides an interface and system that is more suitable for larger-scale commercial applications of Blockchain, while enhancing efficiency. Therefore, Ethereum is widely considered by its sector as the second generation of blockchain technology, or blockchain 2.0.

According to Deng Yangdong, MATRIX, as the new generation of blockchain and with the introduction of AI, it can dynamically update the parameters for various blockchains so as to create self-evolution in the industryFurthermore, MATRIX Chain can also address the issues during the finalization of the current blockchain designs and the inflexibility in adjusting various blockchain parameters. For this, MATRIX Chain could be deemed as blockchain 3.0.

Automatically discriminating against loopholes in transactions

Smart contracts are the core link in the application of blockchain technology, but conventional transactions under smart contracts are still in a risky stage, with each transaction posing a “risk”. This is also one of the important causes that blockchain technology is now facing difficulties to be put into mass application.

“The root cause of this phenomena lies in that a blockchain is designed in a trustless environment, and this means there is no way to correct any errors that occur”, Li Qinghua, chief scientist of MATRIX on chip and software architecture, was quoted as saying.

Li is a renowned expert on chip design in Chinaand once was the head of the R & D department and chief architect in designing the first WiFi chip in China.

He stated with an example that, in a current blockchain, if currency is sent to a certain address, the operation will be irreverisible. This means that if a dealer sends currency to a wrong address, the currency will be lost. Likewise, something similar to the phishing on the Internet can also happen in blockchains, in which case a hacker exploits the loopholes in contracts through setting up traps, and the transactions of this type can’t be retrieved either.

Moreover, if any man-made error occurs when a user is writing a contract, such as a fat-finger error in a stock market transaction or a wrong quotation in a foreign exchange transaction (for example, quotation in RMB/USD mistaken for that in USD/RMB), the above-mentioned transaction can be revoked in reality through a controlled system. However, in a decentralized system, it will only let the dealer take the risk in the same way as they do in conventional contracts.

Smart contracts for MATRIX Chain are dedicated to addressing the above issues for which the solution is a conventional centralized system,” Li explained, with the introduction of AI models based on the principle of non-discrimination. The smart contracts for MATRIX Chain let the automatic judgment on the quality of transaction models, the automatic detection of loopholes in transactions, and the execution of a civilized process of transactions under contracts.

Setting up a blockchain that anyone knows how to use

Decentralization, openness, tamper-proofing etc. are the core features of blockchain technology, and these features determine how widely blockchain can be applied: as long as a transaction is made between multiple parties who lack trust in each other, blockchain technology can be used.

The application of blockchain technology has been launched in many governmental agencies and organizations globally, as well as in large enterprises, involving many industries such as finance, communication, medical treatment, and real estate. As far as ordinary users are concerned, blockchaintechnology is too complicated and difficult to understand.

“Specialization and complexity has always been a major obstacle to the commercial application of blockchain technology,” Deng pointed out, although Ethereum provides smart contracts, it now can only address simple linear problems, but has no way to respond to more complicated contractual conditions. This significantly limits the space and scope of the transactions and applications over the chains.

Instead, MATRIX, which has incorporated AI-based algorithm, is able to solve many non-linear and more complicated problems, largely lowering the problem in its application and thus significantly improving the range of blockchain technology applications.

Deng said that quasi-Ethereum smart contracts are more like an exclusive application for a small group of technicians who are familiar with codes than a generic one for ordinary users. However, after AI has been incorporated, the only operation ordinary users need to do to generate a smart contract is to type in the transaction objective and textual description of transaction conditions, making the smart contract service easily accessible for everyone.

SOURCE MATRIX

CONTACT: Neo, +86-18611466297, neo@matrix.space

Persistent Systems Recognized for IoT Technology Competency in ‘Zinnov Zones 2017 – IoT Technology Services’ Report

Company rated Established & Expansive for overall IoT competency and placed in leadership zones for Platform and Application CompetencyBig Data Management and Analytics Services

In its just released report ‘Zinnov Zones 2017 for IoT Technology services,’ Zinnov Management Consulting positions Persistent Systems (BSE & NSE: PERSISTENT) among the leading players for its IoT competency. Persistent is also placed in the leadership zones for ‘Platform and Application Competency’, ‘Big Data Management’ and ‘Analytics Services’.

(Logo: http://photos.prnewswire.com/prnh/20141106/714346 )

(Photo: http://mma.prnewswire.com/media/542594/IoT_Platform_and_Application.jpg )

(Photo: http://mma.prnewswire.com/media/542595/IoT_Overall_Ratings.jpg )

(Photo: http://mma.prnewswire.com/media/542596/IoT_Big_Data_Management.jpg )

The ‘Zinnov Zones 2017 for IoT Technology services,’ is an annual study to help business leaders select the best partner across geographies, as they spearhead global IoT initiatives. The rating is based on key parameters including innovation, capabilities, financials, human capital, ecosystem linkages, infrastructure, maturity and diversity of services, scale, and diversity across verticals. For additional details, please visit https://www.slideshare.net/zinnov/zinnov-zones-for-iot-services

The Zinnov ranking further demonstrates Persistent’s strength in the market.

Sanjeev Srivastav, Senior Vice President, IoT Business, said, “ The Persistent Flywheel framework is accelerating development and adoption of IoT systems by focusing on end-to-end solutions including aspects like ecosystem development and monetization. Our ‘Zero to Live in a Turn of the Flywheel’ approach brings agility to IoT development. Persistent’s dedicated focus on IoT products, solutions and services helps provide a full spectrum of engagement models including product licensing, solution development and managed services and in turn bring accelerated value to our customers.”

Sidhant Rastogi, Partner & Practice Head, Zinnov, said, “With a strong partner ecosystem, IP strategy and unique strengths in key technology areas, Persistent has established a position among the leading players in IoT Technology services. Persistent is strongly positioned for the second year in a row because of its expertise in Cognitive IoT, Machine Learning, Continuous Engineering, IoT monetization and API management.”

Additional Resources and Information:

About Zinnov:

Zinnov was founded in 2002, with presence in Bangalore, Gurgaon, Silicon Valley, and Houston. Since its inception, Zinnov has built in-depth expertise in Product Engineering and Digital Transformation. With a strong foundation in Research and Strategy Consulting they enable their clients to accelerate growth and create efficiencies through innovation, productivity, technology, networked economies and cost savings. They work with clients in the software, automotive, telecom & networking, consumer electronics, storage, healthcare, financial services & retail, and semiconductor verticals in US, Europe, Japan and India.

For any further media queries, please contact Nitika Goel at media@zinnov.com

About Persistent Systems: 

Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives the business of our customers; serving software product companies and enterprises with software at the core of their digital transformation.

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit: https://www.persistent.com/FLCS

Media Contacts:

Akshata Datar
Text100
+91-9867507599
akshata.datar@text100.co.in

Isha Kulkarni
Persistent Systems
+91-7350521177
isha_kulkarni@persistent.com

Ken Montgomery
Persistent Systems (US)
+1-949-939-5164
ken_montgomery@persistent.com

SOURCE Persistent Systems

China’s Co-Working Unicorn UrWork Completes Pre-C Round, Fuelling Further Global Expansion

China’s largest co-working space provider UrWork announced today to have received pre-C round funding equivalent of US$178 M, fuelling further global expansion and technology upgrading.

UrWork (Beijing) Venture Investment Ltd (UrWork) announced today to have completed pre-C round funding of US$178M, led by Beijing Capital Land, Star Group, Beijing Aikang Group and Prosperity Holdings, in the wake of UrWork’s recent launch in Singapore.

“The pre-C round funding cements UrWork’s position as the leading co-working space provider in Asia,” said UrWork’s founder and CEO Dr.Mao Daqing, a real estate veteran with over 23 years of experiences under his belt, including in executive roles at CapitaLand and Vanke China.  He commented that the investment will be deployed to drive further global expansion and technology upgrading. “It will help further strengthen our core verticals and will see a series of facility and service upgrading at UrWork that sets us apart from other contenders,” Mao said.

“Dr. Mao Daqing has demonstrated entrepreneurial vision and strong leadership that are unrivalled by few in the coworking industry in Asia,” said Mr. Tang Jun, President of Beijing Capital Land. “We see this as an opportunity to innovate our business model and strengthen our existing real estate portfolio with some exciting and differentiated additions.  I am delighted to join force with a company that reflects our values and complement our strengths.”

Mr. Tang adds that UrWork’s close ties with the Chinese government, the growth prospect of co-working industry, strong growth momentum and strong management team are core factors that influenced the deal. The two companies will partner in stock asset revitalisation and resource sharing, among others.

Beijing Capital Land Ltd. (BCL, Stock Code: HK2868) is a leading integrated real estate developer in China, focusing on residential development, outlet complex and urban core complex, complemented by innovative business areas such as primary land development and high-tech industry.

The majority shareholder of BCL is Beijing Capital Group Co., Ltd. (BCG), a large state-owned enterprise affiliated to the State-Owned Assets Supervision and Administration Commission of the Beijing Municipality. Its second largest shareholder, GIC Private Limited, is a major sovereign wealth fund wholly owned by the Government of Singapore. Guided by the principles of “creating new urban lifestyle”, BCL is innovating its business model, while revitalising dormant spaces in central CBD area to create connected spaces merging professional work with lifestyle.

“The rising concept of co-working addresses the more mobile working style that modern urban professionals have today, where an increasing number of young people work on the go, resulting in an under-utilisation of stock assets. By revitalising the spaces with craft architecture, designer interior and connected technology, we recapture the latent stock spaces, creating more added values,” said Mao, who is also the founder and CEO of 5LMeet, China’s first co-living concept company, launched recently in partnership with Traders Hotel in Beijing CBD.

“The total market capitalisation of share economy is estimated to reach US$335 billion, with 36% year-to-year growth rate. China’s sharing economy volume is likely to crown the world within the next three to five years. It’s an exciting time and we believe the right timing to invest in a fast-growing company like UrWork, “said Gan Lianfang, founder and Chairman of Star Group.  Star Group started as China’sleading manufacturer of table-tennis equipment and has grown to become an integrated investment company with expanding portfolio in health care and real estate sectors. The company seeks to explore new ways of upgrading the industry and equity-investment business model through the partnership with UrWork.

Beijing Aikang Group, founded in 1993, is a leading Chinese conglomerate with diversified investment portfolio in pharmaceutical and medical, securities and bonds, hospitality and catering, as well as real estate sectors. With a clear health-oriented investment strategy, the company aims to complement UrWork’s existing portfolio with real estate resources in healthcare sectors.

Prosperity Holdings was founded in Shanghai in 2011 and has since been focusing on asset diversification and management including property investment, corporate equity investment, securities and bonds and investment advisory. Its investment portfolio encompasses residential property, commercial property, healthcare, new energy, clean tech, supply chain, entertainment and art. Trough the strategic investment, Prosperity Fund will support UrWork with further roll-out in the US, as well as developing innovative service products that adds more values to the UrWork members.

By Feb 2017, there has been 186 unicorns globally, among which 42 are in China. Unicorns in the sharing economy sector take up to 36%, including Didi Chuxing, E Le Me (“Are you hungry” in English), UrWork etc, covering transportation, food, fintech, coworking, supply chain sectors. As the coworking landscape is evolving (4000 companies in China so far), so is the perception on coworking. In lieu of the traditional indie start-ups and freelancers, modern Fortune 500 and innovative SMEs are occupying more of the spaces, with the purpose of tapping the business synergy of the open community. UrWork is actively pushing the boundary to connect smart working with lifestyle, generating countless jobs for the coworking industry.

For editors:

UrWork (Beijing) Venture Investment Co., Ltd, known as UrWork, is a co-working disrupter and leader in China, providing start-ups, SMEs and corporate tenants with on-demand, short-term leasing and customised space solutions at an exceptional value. Backed by renowned investors such as Sequoia Capital, Zhen Fund, Noah Wealth Management, Sinovation Ventures, UrWork posts a post-C round valuation of US$ 1.5 billion.

With 88 locations in over 22 cities as of Aug 2017, UrWork sets to open another 160 locations across 32 cities worldwide including in ChinaSingaporeNew York, Los Angeles San Francisco and London over the next three years, covering a total area of over 7M sq.ft.

Aggregating over 1000 professional business service suppliers across a broad spectrum, UrWork serves over 40,000 individual members and over 3000 enterprises. It counts Unicorns such as ofo bike, BlueGogo, Mobike, Amazon China, Jin Ri Tou Tiao, Netease, JD logistics as corporate members. The company offers in-house Express Financing program and a series of acceleration programs to help start-ups scale and grow. Its proprietary Link China Program partners with Chinese government agencies and a broad range of service suppliers to help foreign start-ups ease market-entry in to China.

Visit http://www.urwork.cn to access more information about the facility, marketing programs and mentor programs from the company. 

CONTACT: 

Helena Ma
UrWork PR Support
Tel: +65 97243153
Email: 
helena.ma@ideacommunication.co

SOURCE UrWork

RELATED LINKS
http://www.urwork.cn

Silicom’s FPGA Momentum Builds: Design Win from Long-term Strategic Customer

Silicom Ltd. (NASDAQ: SILC) today announced that one of its significant long-term customers has awarded it a new Design Win for an advanced FPGA (Field Programmable Gate Array) based card that it will use in a new Network Visibility application. The client has already placed initial purchase orders totaling several hundred thousand dollars. In parallel, the customer, a world leader in some of the networking industry’s “hottest” segments, is considering Silicom’s solutions for several additional areas, including both FPGA-based and other solutions for a variety of applications.

“We are excited that this leading networking company, a strategic client for years, is turning to us again to deliver an FPGA-based solution,” commented Shaike Orbach, Silicom’s CEO. “This Win is a huge confirmation of our IP and technology within the FPGA space, an area which is developing into a mainstream platform in next-generation Cloud servers. Our FPGA expertise and momentum position us ideally to benefit from this growth, making FPGA-based solutions a new potential high-growth area for us.”

Mr. Orbach continued, “In addition, this Win demonstrates that this client, like so many of our other customers, views Silicom as a ‘go-to’ connectivity/performance partner, with FPGA expertise further enhancing our value. Given the close, cooperative nature of our work, we continually identify new customer needs that we can address, feeding continuous growth in our business with this client and others.”

Mr. Orbach concluded, “In short, our continued growth with this customer, together with the FPGA wave that is swelling across the entire networking and Cloud industries, makes us increasingly optimistic regarding our future prospects and growth.”

About Silicom

Silicom Ltd. is an industry-leading provider of high-performance networking and data infrastructure solutions. Designed primarily to increase data center efficiency, Silicom’s solutions dramatically improve the performance and availability of networking appliances and other server-based systems.

Silicom’s products are used by a large and growing base of OEM customers, many of whom are market leaders, as performance-boosting solutions for their offerings in the Cyber Security, Network Monitoring and Analytics, Traffic Management, Application Delivery, WAN Optimization, High Frequency Trading and other mission-critical segments within the fast-growing data center, enterprise networking, virtualization, cloud computing and big data markets. Silicom’s product portfolio includes multi-port 1/10/25/40/100 Gigabit Ethernet server adapters, Intelligent Bypass solutions, Encryption accelerators, Ultra Low Latency solutions, Time Stamping and other innovative Smart adapters. These products are available for incorporation directly into our OEM customers’ systems, or provided as part of Silicom’s patented SETAC (Server To Appliance Converter), a unique approach to the provision of high quality standard platforms with modular front connectivity.

For more information, please visit: www.silicom.co.il

Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the company’s control, which may cause actual results, performance, or achievements of the company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, difficulty in commercializing and marketing of Silicom’s products and services, maintaining and protecting brand recognition, protection of intellectual property, competition and other factors detailed in the company’s periodic filings with the Securities and Exchange Commission. These forward-looking statements can generally be identified as such because the context of the statement will include words, such as “expects,” “should,” “believes,” “anticipates” or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. In light of significant risks and uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by the company that it will achieve such forward-looking statements. The company disclaims any duty to update such statements, whether as a result of new information, future events, or otherwise.

 

Company Contact:
Eran Gilad, CFO
Silicom Ltd.
Tel: +972-9-764-4555
E-mail: erang@silicom.co.il

Investor relations contact:
Ehud Helft
GK Investor Relations
Tel: +1-646-201-9246
E-mail: silicom@gkir.com

SOURCE Silicom Ltd.

RELATED LINKS
http://www.silicom.co.il

JMU Announces Strategic Partnership with Century Link and TANSH

JMU Limited (“the Company” or “JMU“) (NASDAQ: JMU), a leading B2B online e-commerce platform that provides integrated services to suppliers and customers in the foodservice industry in China, today announced that the Company’s consolidated affiliated entity in China, Shanghai Zhongmin Supply Chain Management Co., Ltd., reached a strategic partnership agreement with Hutchison Whampoa Properties (Shanghai) Lujiazui Ltd. and TANSH Global Food Group Co., Limited (“TANSH”, formerly Xiao Nan Guo Restaurants Holdings Limited) (HKEx:3666) on the development of Project “Lane1192” (Cooperative Area), a nearly 3,000 square-meter space designed for commercial use in Century Link, on August 1, 2017.

Under the partnership, JMU and TANSH will establish a joint venture to oversee the store leasing process in the Cooperative Area and provide operating guidance and advice to its tenant shops and restaurants. TANSH will utilize its operating experience and advantages to introduce restaurant and food material brands to the Cooperative Area, and JMU will provide the integrated services of a back-end restaurant ERP system and supply chain logistics.

Ms. Xiaoxia ZhuJMU’s Co-Chairperson and CEO commented: “We are very pleased to partner with Century Link and TANSH to build a new foodservice operating model that showcases our capabilities in commercial property management, premium restaurant and food material branding and supply chain standardization. Through the partnership, we will become the leading service provider that can satisfy different consumer demands in one modern venue, a one-stop shop in which consumers can dine in, take out or buy high quality semi-finished food. We believe this new operating model is one of the future directions of the restaurant and food catering industry and are optimistic about its success. We look forward to further expanding this operating model to the wider China market.”

Century Link is developed by Hutchison Whampoa Properties (Shanghai) Lujiazui Ltd. and is located in one of the busiest communities in Shanghai. Century Link stands at the crossing of Century Avenue, Zhangyang Road and Dongfang Road in Lujiazui, Pudong New District, where Subway lines 2, 4, 6 and 9 intersect. The mall in Century Link Mall occupies seven floors, featuring a total of 140,000 square meters of commercial space and a 3,000 square-meter atrium.

TANSH is a Chinese company listed in Hong Kong with over 30 years of history as a global catering brand investment development group. The company’s brands offer a variety of formats, including Chinese food, Western food, and casual dining, and includes Shanghai Xiao Nan Guan, Nan Xiao GuanHui Gong Guan, ORENO, Pokka Café, Wolfgang Puck, The Boat House, Mai Chi Ling, and other invested and managed international brands.

About JMU Limited

JMU Limited currently operates China’s leading B2B online e-commerce platform that provides integrated services to suppliers and customers in the catering industry. With the help of Internet and cloud technologies, JMU has the vision to reshape the procurement and distribution pattern and build a fair business ecosystem in the catering industry in ChinaJMU is further promoting the use of its platform for small- and medium-sized restaurants and restaurant chains in China.

Through cooperation with national and local industry associations and reputable restaurant groups across ChinaJMU has formed a leading industrial alliance and has great resource leverage in China’scatering industry. JMU works closely with suppliers and customers in the catering industry, providing one-stop procurement services, as well as other value-added services. For more information, please visit: http://ir.ccjmu.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “ought to”, “plan”, “project”, “potential”, “seek”, “may”, “might”, “can”, “could”, “will”, “would”, “shall”, “should”, “is likely to” and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about JMU’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as JMU’s strategic and operational plans, are or contain 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, including but not limited to the following: The general economic and business conditions in Chinamay deteriorate. The growth of Internet and mobile user population in China might not be as strong as expected. JMU’s plan to enhance customer experience, upgrade infrastructure and increase service offerings might not be well received. JMU might not be able to implement all of its strategic plans as expected. Competition in China may intensify further. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and JMU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact:
Freda Feng, IR Director
JMU Limited
fengxiaohong@ccjmu.com
Tel: +86-21-6015-1166 ext.8904

Bill Zima
ICR Inc.
bill.zima@icrinc.com
Tel: +1(203)-682-8200

SOURCE JMU Ltd

Teneo Acquires Management Consulting Firm Credo

Teneo Holdings, the global CEO advisory firm, today announced that it has acquired Credo Business Consulting LLP, a leading management consulting firm with operations in London and Dubai.

Credo is a highly-respected management consulting firm focused on corporate strategy, transaction services, commercial and operating model transformation and performance improvement. With an outstanding reputation for depth of analysis and insight, Credo has helped many of the world’s leading organizations and financial investors to make and implement better strategic decisions.

Credo brings a team of 60 world-class professionals, including six partners, to Teneo, and deep expertise across a growing number of sectors including: Business and Support Services; Engineering, Construction and Infrastructure; Health and Social Care; Telecoms, Media and Technology; Software and IT Services; and Transport Services and Infrastructure.

The transaction represents a major expansion of Teneo’s Consulting division which is led by Chairman Chris Wearing and President Alex Pigliucci. Teneo Consulting provides a full range of management consulting advisory services to many of the world’s largest companies and has experienced significant growth in the past year working on a range of major projects.

All of Credo’s current partners will remain with the business and will now be part of the extended Teneo leadership team.

“Today’s acquisition will help further the expansion of Teneo’s global management consulting capabilities in response to client demand,” said Declan Kelly, Chairman and CEO of Teneo. “We are very pleased to welcome the Credo team to Teneo. They have a very strong reputation for delivering results for clients and will be a great addition as our business continues to grow.”

Simon Bones, Managing Partner of Credo said: “This represents a tremendously exciting moment for our Firm, our clients and our staff. The combination of Teneo’s and Credo’s world-class strategic advisory capabilities will create a truly differentiated proposition for our clients and an excellent platform for growth. We are delighted to be joining forces with Teneo.”

Teneo has now completed four acquisitions in 2017 and a total of nine transactions since the Firm was founded in 2011.

The Credo partners were advised by Clearwater International (corporate finance), DWF (legal) and Kingston Smith (financial and tax).

ABOUT TENEO:
Teneo is a global advisory firm that works exclusively with the CEOs and leaders of the world’s largest and most complex companies, providing strategic counsel across their full panoply of key objectives and issues. Comprised of the most senior talent, we work collaboratively to solve the most complex issues. Our teams integrate the disciplines of strategic communications, investment banking, management consulting, business intelligence, talent development, digital analytics, corporate governance, government affairs and corporate restructuring to solve for the most complex business and reputational challenges and opportunities. The Firm was founded in June 2011 by Declan KellyDoug Band and Paul Keary and now has more than 600 employees located in 17 offices around the world. For more information on Teneo, please see www.teneoholdings.com.

 

SOURCE Teneo Holdings

CONTACT: New York City, Stephen Meahl, Managing Director & Chief of Staff, 212-886-1624, Stephen.meahl@teneostrategy.com; London, Marc Mercer, Senior Vice President, +44 (0)20 7186 8880, Marc.mercer@teneoholdings.com

RELATED LINKS
http://www.teneoholdings.com

Alibaba Group And Marriott International Announce Innovative Joint Venture To Redefine Travel Experience

Alibaba Group Holding Ltd. (“Alibaba”) (NYSE: BABA) and Marriott International, Inc. (“Marriott International”) (NASDAQ: MAR) today announced the establishment of a joint venture to redefine the travel experience for the hundreds of millions of Chinese consumers traveling abroad and domestically every year.

The joint venture will leverage Marriott International’s global portfolio of brands and unparalleled hospitality expertise to revolutionize the travel experience as well as Alibaba’s digital retail leadership and its role as a gateway for international brands to reach over 500 million mobile monthly active users across its platforms. Drawing on resources from both Marriott and Alibaba, the joint venture will manage Marriott’s storefront on Fliggy, Alibaba’s travel service platform. It will also market directly to Alibaba’s customer base, provide a link between Marriott’s loyalty programs and Alibaba’s loyalty program, and support Marriott hotels globally with content, programs and promotions customized for the Chinese traveler.

As incomes rise, China’s middle class is looking for higher quality products and travel experiences. This new venture is designed to satisfy consumers’ expectations for seamless, integrated, personalized, and convenient travel solutions that connect travelers directly to Marriott’s portfolio of international hotel brands. The travel industry is an important growth opportunity as China’s travelers are expected to take an estimated 700 million trips over the next five years. Marriott’s owners and franchisees globally will benefit from the joint venture by capturing a greater share of this growing Chinese travel market and lower distribution costs associated with the joint venture.

“We are proud to join forces with Marriott International – combining our large-scale consumer base, leading-edge technology and consumer insights with their unparalleled hospitality expertise,” said Daniel Zhang, Chief Executive Officer of Alibaba Group. “Together, we are elevating and redefining the travel experience for Chinese consumers to be more seamless and personalized as they embark on adventures to discover the world.”

“We have long admired Alibaba’s digital expertise and deep understanding of Chinese consumers’ needs and behaviors,” said Arne Sorenson, President and Chief Executive Officer, Marriott International. “By forming this partnership, we are pairing our hospitality expertise with Alibaba’s digital travel platform, retail expertise and digital payment platform, Alipay, and driving membership to our loyalty programs. With the growing number of Chinese consumers exploring new destinations, this venture will introduce our hotels worldwide to this new and growing traveling class.”

The joint venture will elevate the travel experience for Chinese travelers in the following ways:

  • Making Global Travel Easy: The joint venture will provide newly-integrated functionality to make the entire travel experience truly frictionless from planning, booking, paying and managing a trip to all of the activities associated once at the destination like shopping, dining and sightseeing. The joint venture will deliver user-friendly technology solutions that will open up a world of travel options for Chinese consumers.
  • Personalizedand VIP Experiences: The joint venture will leverage technology to curate customized experiences for Chinese consumers. Marriott will offer access to private concerts, family-focused experiences, and court-side seats at sporting and other events through its Starwood Preferred Guest (SPG) Moments and Marriott Rewards Moments programs. Eligible members from Alibaba’s loyalty program will benefit from personalized hospitality programs and Marriott’s award-winning SPG ambassador program.
  • Wallet-free Travel: Alipay will be accepted at Marriott hotels in select global markets with further expansion expected around the world.
  • Next-Gen LoyaltyConnecting Marriott’s award-winning loyalty platform – Marriott Rewards, The Ritz-Carlton Rewards and SPG – with Alibaba’s large-scale consumer reach will establish a new benchmark for the next-generation loyalty program.

In addition, in celebration of Alibaba’s Members day on August 8, Alibaba members will be able to enroll in one of Marriott’s loyalty programs – Marriott Rewards, The Ritz-Carlton Rewards or SPG – and book exclusive Member Rates through one of Marriott’s digital channels, beginning immediately. Special offers will also be available only on August 8 for members on marriott.fliggy.com.

About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.

About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,200 properties in 30 leading hotel brands spanning 125 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards®, which includes The Ritz-Carlton Rewards®, and Starwood Preferred Guest®. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

Note on Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of U.S. federal securities laws, such as the estimated five-year growth figure for Chinese outbound travel and the anticipated benefits from the joint venture.  These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as “will” and “expect” and similar statements.  Forward-looking statements are not historical facts, and involve inherent risks and uncertainties.  A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including in this case the risk that a new program such as this joint venture may not be successful or fully achieve the objectives of the participants.  Further information regarding these and other risks is included in Alibaba Group’s and Marriott International’s filings with the U.S. Securities and Exchange Commission. We make those statements as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required under applicable law.

IRPR#1

SOURCE Marriott International, Inc.

CONTACT: Media contacts for Marriott International: Barbara DeLollis, 301.814.3357, barbara.delollis@marriott.com, Alethea Lam, +852 9444 4246, alethea.lam@marriott.com; Media contacts for Alibaba Group: Candice Huang, 202.716.7446, candicehuang@alibaba-inc.com, Xiaoyi Shao, +86 186 5817 0996, shaoxiaoyi.sxy@alibaba-inc.com

RELATED LINKS
http://www.marriott.com

EXPO 2017 Welcomes Two-Millionth Visitor

Gaisa Zhumaliev, a 34-year-old businessman from Uralsk, is the two-millionth visitor of the specialized exhibition Astana EXPO 2017.

At a press conference, the notable visitor said, “As a representative of the private sector, as a citizen of Kazakhstan, I am very pleased that we are conducting an exhibition of such a level in Kazakhstan. We will become known, and, in our turn, we will be able to adopt some innovative technologies from leading countries. We see now how many tourists have come. The whole world has an opportunity to get to know our country better now. I am proud that Kazakhstan was able to hold EXPO.”

Akhmetzhan Yessimov, chairman of the board at NC Astana EXPO 2017, personally congratulated the two-millionth visitor and gave him memorable gifts.

“A landmark event has occurred today. We planned to have two million visitors and five million visits to the EXPO facilities and international pavilions. Today, Gaisa has made us happy becoming the two-millionth visitor. 37 days before the end of the exhibition, we have reached our targets. The number of visits to the EXPO international pavilions and facilities has exceeded 15 million,” Yessimov said.

The one-millionth visitor to Astana EXPO 2017 was registered on June 11. That was Gulzhikhan Zhanabergenova, a 27-year-old resident of Astana.

About EXPO 2017 in Astana

The International Specialized Exhibition Astana EXPO 2017 dedicated to “Future Energy” is an educational and recreational event that will take place between June 10 and September 10, 2017 in Astana. The exhibition will last 93 days and will become one of the most spectacular cultural venues of 2017.

As part of Astana EXPO 2017, global policy documents will be drafted to promote an energy-efficient lifestyle and wide use of renewable energy sources.

Our pages on social media:

YouTube: https://www.youtube.com/channel/UC9-D1aUUN1oQGyUUbZv1zXg

Facebook: https://www.facebook.com/Expo2017AstanaInternational/

Twitter: https://twitter.com/expo2017_int?lang=ru

Instagram: https://www.instagram.com/expo2017astana_intl/

National company Astana EXPO-2017

For additional information please contact:
Natalia Kostikova,
+7(903)209-35-00
Expo2017@m-p.ru

 

SOURCE National company “Astana EXPO-2017”

Sapiens is Considering a Public Offering in Israel of a New Series of Debentures

Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, with a growing presence in the financial services sector, today announced that it is considering a public offering in Israel of a new series of debentures.

(Logo: http://photos.prnewswire.com/prnh/20160803/395300LOGO )

Sapiens reported today to the Israel Securities Authority (“ISA”) and the Tel-Aviv Stock Exchange (“TASE”) that the Company is considering a public offering in Israel of a new series of debentures-Series B Debentures (the “Debentures”) – pursuant to a shelf prospectus that Sapiens filed today in Israel. If offered, the Debentures will be denominated in U.S. dollars.

Any such offering would require the filing of a supplementary shelf offering report, which itself is subject to certain approvals. The offering of Debentures would be made solely in Israel, pursuant to Regulation S under the U.S. Securities Act.

“Sapiens is always seeking to diversify its sources of financing in order to improve its financial flexibility,” said Roni Al-Dor, President and CEO of Sapiens. “This is part of our continuous effort to optimize our balance sheet and capital structure. We are looking to raise new long term debt which will also replace our current bank loan with longer maturity debt, and to lock in a long-term interest rate”.

Al-Dor added: “Our goal is to strengthen our balance sheet, to provide additional working capital to support our customers’ development needs and to continue to pursue M&A business opportunities we see ahead”.

About Sapiens 

Sapiens International Corporation (NASDAQ and TASE: SPNS) is a leading global provider of software solutions for the insurance industry, with an emerging focus on the broader financial services sector. We offer core, end-to-end solutions to the global general insurance, property and casualty, life, pension and annuities, and retirement markets, as well as business decision management software. We have a track record of over 30 years in delivering superior software solutions to more than 400 financial services organizations. The Sapiens team of approximately 2,500 professionals operates through our fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific. For more information: http://www.sapiens.com.

No Offering in U.S.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the Securities Act or an exemption from the registration requirements thereunder. Any offering of securities pursuant to the Israeli shelf prospectus filed by Sapiens and any supplemental shelf offering report will be made only in Israel to residents of Israel, will not be registered under the Securities Act and will not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the Securities Act), except pursuant to an applicable exemption from registration under the Securities Act.

Forward Looking Statement

Some of the statements in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchange Act of 1934 and the United States Private Securities Litigation Reform Act of 1995. Words such as “will,” “expects,” “believes” and similar expressions are used to identify these forward-looking statements (although not all forward-looking statements include such words). These forward-looking statements, which may include, without limitation, projections regarding our future performance and financial condition, are made on the basis of management’s current views and assumptions with respect to future events. Any forward-looking statement is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking statement.

These statements speak only as of the date they were made, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We operate in a changing environment. New risks emerge from time to time and it is not possible for us to predict all risks that may affect us. For more information regarding these risks and uncertainties, as well as certain additional risks that we face, please refer to the Risk Factors detailed in Item 3 of Part III of our Annual Report on Form 20-F for the year ended December 31, 2016, and subsequent reports and registration statements filed from time to time with the Securities and Exchange Commission.

Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: Yaffa.cohen-ifrah@sapiens.com

 

SOURCE Sapiens International Corporation

European Central Bank to Taper in September Says Capital Taiyo Trading

Capital Taiyo Trading have reported that the ECB President Mario Draghi’s speech in Portugal, was interpreted by many as a sign that the central bank could start tapering as early as September, which is earlier than expected.

Since his speech in June, the ECB has tried to calm down those expectations, because the bank wants to calm down expectations in order to prevent unwanted tightening of monetary conditions.

The ECB is in a very tough situation: Economic growth has been surprisingly strong, and the data shows full recovery in the near future, but inflation is nowhere close to target of below 2 percent. Headline inflation for June declined ever so slightly to 1.3 percent from 1.4 percent in May. This means that the ECB will continue to face little inflationary pressure.

“A significant drop in oil prices against the pick-up in bond yields and the strengthening of the euro have further deteriorated the ECB’s inflationary outlook, is what we have seen in recent weeks,” according to Mitsue Ippei, Head of Research & Analysis at Capital Taiyo Trading.

September will be an important month, as it may give markets a clear roadmap of what might happen to the asset purchase program next year. The majority of economic experts expect a six-month extension with a reduced volume.

The ECB wants to prepare the markets for an exit of their ultra-loose monetary policy as it is known now, without creating even greater distortions in the markets. “We were unanimous in setting no precise date for when to discuss changes in the future,” Draghi told a press conference in Frankfurt, Germany. “We simply said that our discussions should take place in the autumn.”

Mario Draghi explicitly said that the ECB did not yet have a tightening agenda in mind, he did say that by September it would have the necessary information needed to start discussions.

Capital Taiyo Trading

Capital Taiyo Trading is a leading wealth management company that is ready to help companies and individuals in achieving their financial goals. We are a team of devoted experts from various fields that collaborate to make sure your wealth is growing. We can deliver audit services, financial consultancy, advisory solutions, risk management strategies, tax, and other financial services.

Media Contact
Mr. Mitsue Ippei
mitsue.ippei@cttpartners.com
+81-3-4520-8072

Address

Grand Tower, 26F,
8-17-1, Nishi-Shinjuku Shinjuku-ku,
Tokyo 160-6129, Japan

Website
https://cttpartners.com/

SOURCE Capital Taiyo Trading

Australian corporate bonds now available to retail investors across Asia-Pacific

Leading provider of B2B digital wealth management solutions Quantifeed and fixed income innovator XTB today jointly announced the launch of the first model portfolio of Exchange Traded Bond units (XTBs) linked to Floating Rate Notes (Floaters) from Australian corporate issuers that will be available to investors in Australia and across Asia.

The XTB Active Cash Australia model portfolio has been developed by Quantifeed amid the growing demand from investors for a liquid yield alternative to bank deposits.

XTBs provide an innovative way for retail investors to gain exposure to Australian corporate bonds. Each XTB offers investors an ASX-listed security that delivers the price stability and returns of a specific underlying corporate bond with no minimum investment.

John Robson, Quantifeed’s Chief Commercial Officer, said: “Many investors in Asia hold foreign currencies, including Australian dollars, in their investment portfolio. Our XTB Active Cash Model Portfolio provides opportunities to invest in a diversified basket of Australian bonds, generating attractive returns. It offers a simple way to directly access Australian floating rate bonds, previously inaccessible to most investors across Asia.”

Richard Murphy, XTB’s co-founder and Chief Executive Officer, said: “Interest rates in Australia are currently higher than some other markets in the region. Institutional investors have been able to access higher yielding Australian corporate bonds in the wholesale market. XTBs allow all other investors to access the same superior returns from low volatility floaters. We are delighted Quantifeed has developed The XTB Active Cash Australia model portfolio to give investors across the region access to floaters from a range of highly rated Australian Banks.”

About Quantifeed

Quantifeed’s automated investment platform allows financial institutions to offer advisors and customers a digital wealth management experience under their own brand. Quantifeed’s software and financial models provide banks, brokers and wealth planners with a configurable solution to suit their wealth management objectives. Firms can reach hundreds of thousands of consumers quickly and economically. The platform hosts portfolios of stocks, funds and other asset classes across all major global markets. Investing solutions can be based on risk assessment, life goals and thematic ideas. Quantifeed offers a library of portfolios for asset allocation, thematic investments and other trading strategies.

The company was founded by former investment banking executives Alex Ypsilanti, CEO, and Ross Milward, CTO, in Hong Kong in 2013.

About Australian Corporate Bond Company

Australian Corporate Bond Company (ACBC) is the Securities Manager of XTBs quoted on the ASX. Established in 2013 to develop the XTB fixed income investment opportunity, ACBC’s directors and key executives have extensive skills and experience in investment banking, broking, trading, funds management, investment product manufacturing and exchange operations.

Working with banks, brokers and market makers, ACBC selects the underlying corporate bonds whose returns will be made available to investors via XTBs on ASX. ACBC’s full role and that of the Responsible Entity are detailed in the XTB Product Disclosure Statement (PDS) available at www.xtbs.com.au.

Media enquiries

Summer Mo
Marketing and Communications, Quantifeed
T +852 3105 9610
summer.mo@quantifeed.com

Danielle Veivers

Honner

T +612 8248 3742

M +61438774364

danielle@honner.com.au

Suzanne Dwyer

Public Relations – Australia

T +612 8248 3741

suzanne@honner.com.au

 

Logo – https://photos.prnasia.com/prnh/20170706/1891380-1

SOURCE Quantifeed HK Limited

Sansan Raises US$38 Million in Series D Funding

Sansan Inc.,Japan’s leading provider of cloud-based business card management services, announced today US$ 38 million (S$ 52 million) in Series D funding, with participation from new investor Future Creation Fund, which is backed by leading corporations such as Toyota Motor Corp and Sumitomo Mitsui Banking Corp. This round of funding also saw continued investment from global venture capitalist firm, DCM Ventures, and cloud-based customer relationship management (CRM) platform, Salesforce.com.

This new round of funding will support Sansan Inc.’s aggressive growth into new cities in Asiaincluding India, and extend its market dominance through its business card management services for professionals and corporates.

Eight for Professionals

Come September 2017, Sansan Inc. will introduce and market the English version of “Eight” to Asia. Eight is a business SNS (Social Network Service) to help professionals digitalise and manage their business cards data. Started in Japan in 2012, it is one of Japan’s largest business network based on business cards, with an established reputation for quick and accurate data registration that combines advanced scanning technology and manual input of business cards.

For Corporates 

In addition, Sansan Inc. plans to leverage the funds to accelerate its business card management service – known as Sansan – for corporate users and organisations. The business card management and sharing contact information service, has a wide and impressive portfolio of national and international corporate users, including the Japanese Government (METI), Intel, Japan Post, Mizuho Bank, SAP, Seven & i Holdings, Sumitomo Mitsui Banking Corporation, Tokyo Gas, and Toyota. Sansan expanded into Singapore in October 2015 and currently works with Singapore-based clients such as Ngee Ann Polytechnic.

This Series D funding of US$38 million is the largest amount raised in the company’s history. This brings the total to US$ 76 million (S$103 million), of which approximately 40% has come from investors outside of Japan.

About Fundraising Sources *In random order

Future Creation Fund (Minato-ku, Tokyo)
DCM Ventures(California, U.S.)
Salesforce.com Ventures (California, U.S)

About Business Card Application Eight

Eight is one of Japan’s largest business network based on business cards. It has an established reputation for quick and accurate data registration that combines advanced scanning technology and manual input of business cards. To facilitate usage of its business network that continues to expand daily through exchange of business cards, the app is equipped with features such as Feed, which enables business information to be exchanged; Message, for easy communications; and Profile, for expressing personal information not contained on a business card. After business cards have been exchanged, users can regularly share recent updates and information, and communicate with each other easily at any time.

About Sansan Service

Sansan’s unique cloud-based business card management solution helps companies to use the data in their business cards to enhance their business prospects, share and manage connections across geographies. Sansan currently has over 6,000 corporate users, and 81% market share in Japan (2016) and has been expanding its market into Singapore and Asia Pacific region under the concept of “Business Card Management for your company, Better teamwork and sales, start with a simple scan”.

About Sansan Inc.

Since its founding in 2007, Sansan has focused on delivering its cloud based contact management service to customers in Japan and beyond. Sansan is setting the standard in Japan for cloud-based contact management, with annually doubling numbers of users from over 6,000 premium corporate users including the Japanese Government (METI). Sansan Inc. is based in Tokyo, Japan and has its subsidiary Sansan Global PTE.LTD in Singapore since October 2015. The company began offering its business card app Eight in 2012. It has over 1.5 million registered users as a new business network that incorporates a social media framework to transform business cards into business connections.

Founded: June 11, 2007
URL: https://www.corp-sansan.com/
Address: Aoyama Oval Building, 13F, 5-52-2, Jingu-mae Shibuya-ku Tokyo 150-0001
Business scope: Planning, development, and sales of cloud-based business card management services
Sansan for business users: : https://sansan.com
Eight for individual users: https://8card.net

Logo – https://photos.prnasia.com/prnh/20170807/1914741-1logo

 

SOURCE Sansan Inc.

CONTACT: Serene Chow, (+65) 6235 4495, chows@RuderFinnAsia.com

RELATED LINKS
https://www.corp-sansan.com

Veritas Technologies Named a Leader in the 2017 Gartner Magic Quadrant for Data Center Backup and Recovery Solutions

Veritas Technologies, a leader in multi-cloud data management, today announced that Gartner, Inc. has named it a Leader in Gartner’s 2017 Magic Quadrant for Data Center Backup and Recovery Solutions 1. Veritas has been a Leader 15 consecutive times and since the inception of the report in 19992. Click here to download the full report.

Gartner’s evaluation criteria for vendors includes completeness of vision and ability to execute. As the backup and recovery market has hundreds of vendors, this report narrows the focus down to those that have a very strong presence worldwide in the upper-end midmarket and large-enterprise environments.

“We are again honored to be named a Leader in this year’s Gartner Magic Quadrant for Data Center Backup and Recovery Solutions,” said Mike Palmer, executive vice president and chief product officer, Veritas. “As data continues to grow and become more fragmented across clouds and virtual environments, organizations need great performance with integrated backup and recovery to help reduce risks and boost productivity — and at the same time, minimize storage costs. We believe this achievement underscores our commitment to offer comprehensive integrated enterprise data management — both on premises and in the cloud.”

Key innovations continue to differentiate Veritas, including:

  • 360 data management for the multi-cloud – Through direct integration between NetBackup and a wide range of data management solutions, Veritas delivers 360 data management for the multi-cloud. This empowers organizations to easily manage their data across complex multi-cloud environments with exceptional visibility, predictable resiliency and streamlined copy data management capabilities that can accelerate dev/ops and help reduce storage costs.
  • Scalable data protection in a multi-cloud world – NetBackup supports a wide array of cloud environments with integrated cloud connectors and the ability to manage and scale global data protection no matter where the data resides. Customer benefits include:
    • Increased flexibility and choice to seamlessly access more than 33 public and private cloud storage providers globally.
    • Fast deployment of workloads in virtually any multi-cloud environment (private, public, or hybrid).
    • Increased predictability for resiliency operations, including disaster recovery failover, failback, data protection and non-disruptive recovery testing.
  • Modern, flexible pricing models – Veritas offers customers increased flexibility to consume solutions in a manner that best fits their current and future needs through the new Veritas 360 Data Management™ Suite. The solution leverages NetBackup with subscription pricing to simplify access to the broad spectrum of Veritas data management solutions.

According to the report, “Leaders have the highest combined measures of Ability to Execute and Completeness of Vision. They also have the most comprehensive and scalable product portfolios. They have a proven track record of established market presence and financial performance. For vision, they are perceived in the industry as thought leaders, and have well-articulated plans for enhancing recovery capabilities, improving ease of deployment and administration, and increasing their scalability and product breadth.”

Source: Gartner, Inc., Magic Quadrant for Data Center Backup and Recovery Solutions, Dave Russell, Pushan Rinnen, Robert Rhame, July 31, 2017


Previous titles include Magic Quadrant for Enterprise Backup Software and Integrated Appliances (2014-2015), Magic Quadrant for Enterprise Backup/Recovery Software (2011-2013), Enterprise Backup and Restore Magic Quadrant (2001-2005), Enterprise Backup Vendor Magic Quadrant(1999-2000). In 2006 and 2008, Veritas Technologies was given a Positive and a Strong Positive designation in the MarketScope for Enterprise Backup/ Software. From 2005-2015, Veritas Technologies was known as Symantec.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Veritas Technologies 

Veritas Technologies empowers businesses of all sizes to discover the truth in information — their most important digital asset. Using the Veritas platform, customers can accelerate their digital transformation and solve pressing IT and business challenges including multi-cloud data management, data protection, storage optimization, compliance readiness and workload portability — with no cloud vendor lock-in. Eighty-six percent of Fortune 500 companies rely on Veritas today to reveal data insights that drive competitive advantage. Learn more at www.veritas.com or follow us on Twitter at @veritastechllc.

Forward-looking Statements: Any forward-looking indication of plans for products is preliminary and all future release dates are tentative and are subject to change at the sole discretion of Veritas. Any future release of the product or planned modifications to product capability, functionality, or feature are subject to ongoing evaluation by Veritas, may or may not be implemented, should not be considered firm commitments by Veritas, should not be relied upon in making purchasing decisions, and may not be incorporated into any contract.

Veritas, the Veritas Logo, and Enterprise Vault are trademarks or registered trademarks of Veritas Technologies LLC or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

Contacts

Belinda Lim
Corporate Communications
Veritas Technologies
+65-6413-4306
belinda.lim@veritas.com

Mizu Chitra / Marc Lee
Text100 Singapore
+65-6603-9000
veritas@text100.com.sg

Logo – http://photos.prnasia.com/prnh/20150408/8521502200

SOURCE Veritas

RELATED LINKS
http://www.veritas.com

AfDB and African Ambassadors host 2nd Japan-Africa Business Forum in Tokyo

The 2nd Japan-Africa Business Forum was held in Tokyo on 25-26 July 2017 on the theme ‘Investment and Business Opportunities with Africa‘. The Forum was organized by the Bank’s Asia External Representation Office and African Diplomatic Corps (ADC) in Tokyo, in collaboration with Japan International Cooperation Agency (JICA), Japan External Trade Organization (JETRO) and United Nations Industrial Development Organization (UNIDO).

The Forum brought together AfDB Senior Staff, African Ministers, Japanese Government Officials, and Private sector from both Japan and Africa to discuss economic developments in Africa, focusing on business opportunities, and Africa’s development through business promotion. About 1,500 participants, including 400 viewers through live stream in Africa and Japan, participated in the forum, which also provided knowledge sharing and networking opportunities.

AfDB Senior Vice President, Charles Boamah, led the Bank’s delegation which included Jennifer Blanke, Vice President for Agriculture, Human and Social Development, and Amadou Hott, Vice President for Power, Energy, Climate Change and Green Growth. They attended series of encounters organized by the Japanese ministries of Finance, Foreign Affairs, Economy, Trade and Industry, as well as JICA, JETRO, United Nations University, and University of Sophia, among others.

The central theme of the Forum, ‘Investment and Business Opportunities with Africa‘ is aligned with the Bank’s High 5 priorities (Light up and power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the quality of life for the people of Africa). Each session focused on one element of the High 5 agenda, which the panelists discussed in relation to their sector. The Forum has two main objectives: to provide business stakeholders from Japan and Africa with new business ideas and opportunities; and to increase the number of matching opportunities between them to encourage Japanese companies to commit themselves to doing business and actively investing in Africa.

In a special video message aired during the Opening Session on July 25, AfDB President Akinwumi Adesina stressed the close relationship between the Bank and Japan, which is one of the strongest and most reliable Bank supporter, partner and stakeholder. “We wish to boost private sector-led growth in Africa and thus take a logical approach to attracting the enormous investments that we need to make to accelerate Africa’s development,” Adesina said.

The first Forum was held in June 2014, one year after the Fifth Tokyo International Conference on African Development (TICAD V) with the goal of contributing to further enhancement of the business partnerships between Japan and Africa. At TICAD V, Japan and African countries in attendance identified the “promotion of private sector-led economic growth” as a priority agenda item and recognized the important role of Japan in contributing to the growth and development of Africathrough business activities. TICAD VI was held for the first time in Africa in Nairobi, Kenya, in August 2016Japan pledged US $30 billion public and private support for Africa over the next three years to boost infrastructure development in the continent. It attracted a high level of interest among Japanese business executives. There were great expectations toward accelerating the promotion of private sector-led economic growth, a key agenda identified at TICAD V (2013). In this context, the timing to host the Second Forum in 2017, one year after TICAD VI, was considered appropriate to maintain and further boost high level interest within the Japanese community.

During the Forum, 118 business matchings between Japanese and African companies were held successfully, 90 companies in total participated. There was one success story – Burkina Faso’s ZIL Telecom and the Japanese Lequio Power Technology Corporation signed a Sales and Distribution contract for West Africa during the meeting.

SOURCE African Development Bank (AfDB)