EBC FINANCIAL GROUP RECOGNISED AS "MOST TRUSTED FX BROKER" AND "BEST CFD BROKER" AT WORLD FINANCE AWARDS

LONDON, June 27 (Bernama-GLOBE NEWSWIRE) -- EBC Financial Group (EBC) is proud to announce that it has been honoured with two prestigious awards at the World Finance Awards 2024: Most Trusted FX Broker and Best CFD Broker. These accolades reflect EBC’s unwavering commitment to transparency, regulatory compliance, and exceptional customer service.
 

This double recognition highlights global investors' trust in EBC’s top-tier regulatory credentials, superior trading environment, and diverse security measures, further cementing EBC’s position as a global leader in the financial industry.

Comprehensive Excellence: Best CFD Broker
The "Best CFD Broker" award is one of the most prestigious industry accolades, evaluating brokers on order execution, pricing optimisation, user experience, fund security, trading support, and innovation. As the 2024 recipient, EBC has demonstrated unparalleled execution advantages, offering lightning-fast order execution, high capacity for order aggregation, and exceptional system stability.

Sincere Foundation: Most Trusted FX Broker
Alongside the "Best CFD Broker" award, EBC was also honoured as the "Most Trusted FX Broker." Trust is built on a foundation of strict regulatory compliance, ensuring every order is executed safely and efficiently, supported by a responsive service team and diverse offerings tailored to various market conditions.

In 2024, EBC Financial Group (Cayman) Limited obtained a full regulatory license from the Cayman Islands Monetary Authority (CIMA), regulatory number 2038223, demonstrating EBC’s proactive compliance with broader jurisdictional requirements. Currently, EBC holds top-tier licenses from the UK's Financial Conduct Authority (FCA) for its UK entity, EBC Financial Group (UK) Ltd, whilst EBC Financial Group (Australia) Pty Ltd is regulated by Australia's Securities and Investments Commission (ASIC), and EBC Financial Group (Cayman) Limited by CIMA, adhering to the highest standards of self-regulation and regular cross-jurisdictional audits.

EBC has established a 24/7 service team to provide round-the-clock support and specialised solutions. With localised talent pools, EBC shares industry insights, cutting-edge tools, and real-time information, ensuring users stay ahead. EBC also offers a comprehensive suite of trading tools, customisable indicators, and deep institutional partnerships, catering to the diverse needs of traders at various stages.

Industry Recognition and Client Trust
Jon Bentley, Head of Production at World Finance Magazine comments, “For over a decade, the World Finance Forex Awards have celebrated outstanding achievements in the forex industry, honouring brokers based on key metrics such as customer service, trust, transparency, and technological innovation. In 2024, EBC Financial Group, a globally regulated broker, has distinguished itself by winning the titles of Best CFD Broker and Most Trusted FX Broker. This reflects EBC Financial Group’s unwavering commitment to delivering exceptional service, fostering trust, and maintaining transparency with its clients. Their innovative approach and dedication to excellence have set a benchmark in the industry, highlighting their position as a leader in the forex market.”

Winning these two prestigious awards underscores global traders' trust and support for EBC and marks a significant milestone in EBC's industry achievements.

Looking Forward

EBC is honoured to receive these awards and is committed to continually providing superior trading services, understanding industry trends, and leading within a compliance framework. Looking ahead, EBC will adhere to the principles of integrity and respect, maintain the highest standards of trading environments, and integrate diverse services and partnerships to build a safer, more comprehensive financial ecosystem for global investment opportunities.

For more information on EBC Financial Group, please visit: https://www.ebc.com/.

About EBC Financial Group
Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. With offices strategically located in prominent financial centres, such as London, Sydney, Hong Kong, Tokyo, Singapore, the Cayman Islands, Bangkok, Limassol, and more, EBC caters to a diverse clientele of retail, professional, and institutional investors worldwide.

Recognised by multiple awards, EBC prides itself on adhering to leading levels of ethical standards and international regulation. EBC Financial Group (UK) Limited is regulated by the UK's Financial Conduct Authority (FCA), EBC Financial Group (Australia) Pty Ltd is regulated by Australia's Securities and Investments Commission (ASIC), and EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA).

At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the 'What Economists Really Do' public engagement series by Oxford University's Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.

https://www.ebc.com/ 

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PANGEA BAGS TOYOTA PRESTIGIOUS QUALITY AWARD

KUALA LUMPUR, June 25 -- Pangea, a pioneering force in the automotive leather industry, has received the prestigious Certificate of Achievement in Quality Performance for 2023 from Toyota Motor Corporation (TMC), in recognition of its commitment to excellence and its role as a trusted partner.

This esteemed award recognises Pangea's outstanding quality performance in supplying leather for several Toyota and Lexus models produced in Japan, including the Lexus RX, Lexus ES, Ace, Camry, and Rav4.

"This recognition is a testament to our passion and dedication to our customers. It is a well-deserved achievement for our entire team," said its Director, Global Customer Quality, Ron Main in a statement.

The award highlights Pangea's significant improvements in quality, displaying a remarkable 50 per cent improvement from 2022.

This accomplishment underscores the company's unwavering commitment to excellence and its dedication to meeting the highest standards for its customers and organisation.

Although there were challenges in the way of this honour, the customer was grateful for the Pangea team's unwavering support.

Of note, Pangea held monthly leather working meetings with Toyota and their seat suppliers to review parts with a primary goal to educate and calibrate to programme requirements.

These well-developed customer relationships and the substantial improvement in quality for 2023 have re-established Pangea as a steadfast supplier to TMC.

-- BERNAMA

WeRide, CTM Roll Out Driverless Sweepers By Year-end In Singapore

KUALA LUMPUR, June 21 (Bernama) -- WeRide, a global leader in autonomous driving technology, announced a partnership with Chye Thiam Maintenance (CTM), Singapore’s renowned sanitation company, to jointly advance the commercial deployment of WeRide Robosweepers in Singapore.

According to a statement, the first batch of WeRide Robosweepers has successfully arrived in the country and begun safety testing, with official operations expected to commence by the end of this year.

The partnership between WeRide and CTM will provide the latest cutting-edge technology and high-quality unmanned sanitation services for urban cleaning in Singapore.

WeRide Robosweeper S6 features multiple high-precision sensors and artificial intelligence (AI) algorithms, enabling it to efficiently perform various urban sanitation tasks such as road sweeping, water spraying, and disinfection.

The Robosweeper can automatically detect road conditions, avoid pedestrians and obstacles, ensuring safe and reliable operation while enhancing cleaning efficiency.

Additionally, the WeRide Robosweeper is powered by an all-electric drive system, reducing carbon dioxide emissions by nearly 10,000 kilogrammes per month on average, to ensure its low-carbon footprint while significantly contributing to the green transformation of Singapore's sanitation sector.

As the country achieved remarkable results in urban sanitation, with tree-lined streets, numerous gardens, and a picturesque landscape, earning it the reputation of a "Garden City", the launch in Singapore marks WeRide’s successful entry into the global market, expanding its commercial landscape and potential.

WeRide will view Singapore as a strategic centre, collaborate with local partners, and rapidly enter the Southeast Asian sanitation market, bringing efficient and high-quality unmanned sanitation services to more countries and cities.

Since September 2022, WeRide's smart sanitation services have been rolled out in multiple cities, including Guangzhou, Shenzhen, and Beijing. These deployments contribute to model projects for smart city development, enhancing the livability and tourism appeal of these urban areas.

-- BERNAMA

TEAMLAB BORDERLESS JEDDAH | THE RECORD-BREAKING DIGITAL ART MUSEUM OPENED IN HISTORIC JEDDAH, SAUDI ARABIA

^{Immense installation unveiled at teamLab Borderless in Historic Jeddah. When people touch the flowers, they scatter and die. When people touch the sand, the falling sand breaks up. (teamLab, Persistence of Life in the Sandfall / Photo: teamLab)}


Saudi Ministry of Culture and Tokyo-based art collective teamLab launched the Middle East’s first teamLab Borderless museum in the UNESCO World Heritage Site of Historic Jeddah

Spanning 10,000 sqm of gross floor area, a ‘museum without a map’ comprises over 80 digitally-created artworks that transcend boundaries


JEDDAH, Saudi Arabia, June 21 (Bernama-BUSINESS WIRE) -- teamLab Borderless Jeddah, known as a museum without a map, opened on June 10 in Jeddah Historic District as a collaborative initiative between the Saudi Ministry of Culture and the Tokyo-based art collective teamLab. Spanning approximately 10,000 sqm of gross floor area, the museum is the Middle East’s first-ever teamLab Borderless to be permanently established on the shores of Alarbaeen Lagoon, overlooking the panoramic views of Historic Jeddah, a UNESCO World Heritage Site.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240617411724/en/

teamLab Borderless Jeddah is one of Saudi Arabia’s Quality of Life Programme initiatives to develop and foster cultural and arts exhibition infrastructure, with the aim of strengthening the Kingdom’s contribution to arts and culture, one of the goals of Saudi Vision 2030.

teamLab Borderless is a world of artworks without boundaries, a museum without a map created by teamLab. Artworks move out of rooms, communicate with other works, influence, and sometimes intermingle with each other with no boundaries, forming one continuous borderless world. As visitors immerse their body in this borderless art, they ‘wander, explore, and discover’.

The immense museum, which first opened its doors in 2018 in Tokyo and set a world record for the most visited single-artist museum (*1), comprises over 80 independent artworks that form complex interrelationships with one another as well as with visitors, eternally transforming the scenery. teamLab Borderless Jeddah is composed of multiple seamlessly interconnected areas: Borderless World, Light Sculpture, Athletics Forest, Future Park, Forest of Lamps, EN TEA HOUSE, and Sketch Factory.

Toshiyuki Inoko, Founder of teamLab, said, ”Jeddah is one of the leading global cities in the Middle East with a profound history and rich culture. We are very honored to be able to open teamLab Borderless in Historic Jeddah, a UNESCO World Heritage Site. This time, we were able to launch teamLab Borderless on a monumental scale, with truly beautiful architecture in this wonderful location.

teamLab Borderless is based on the concept that everything exists in a borderless continuity. We want to create the ‘beautiful’ in which the various artworks relate to each other and are continuous without boundaries.

Our artworks are based on the continuity of knowledge over the long history of humanity. For this reason, it is very significant to be able to establish a large-scale teamLab Borderless in Historic Jeddah. Through Historic Jeddah and teamLab Borderless, we want to make this place the most amazing place in the world, creating an experience where people travel between the seamlessly interconnected past and present, and feel a strong sense of meaning.”

Abdulrahman Almotawa, Official Spokesperson of the Saudi Ministry of Culture, said, “We are immensely proud to open teamLab Borderless Museum in the heart of Jeddah’s historic district. This first-of-its-kind venture, realized in collaboration with teamLab, is part of a new chapter for Saudi Arabia’s cultural landscape. It is a revolutionary space where the boundaries between art, technology and our natural world converge, offering a truly immersive experience. We are grateful to teamlab for sharing in the Ministry of Culture’s dedication to fostering innovative artistic expressions that resonate both locally and globally.

We envisage teamlab Borderless Jeddah as a dynamic meeting point, where visitors can explore uncharted territories of creativity and engage in a dialogue that bridges the Kingdom’s rich heritage with contemporary artistic discourse. As the Ministry of Culture continues to work towards achieving the cultural goals of Saudi Vision 2030, we aim for the museum to enhance the Kingdom's position as a center for arts and culture in the region and the world."
______________________________
*1 “teamLab Borderless in Tokyo takes Guinness World Record” blooloop. July 22, 2021.

teamLab Borderless Jeddah
Culture Square, Jeddah Historic District, Saudi Arabia

For Media
Press Kit: https://bit.ly/borderless_jeddah
Highlight Video: https://youtu.be/xpfYR-nLzR8
Official Website: https://teamlab.art/e/jeddah/

About teamLab
teamLab (f. 2001) is an international art collective. Their collaborative practice seeks to navigate the confluence of art, science, technology, and the natural world. Through art, the interdisciplinary group of specialists aims to explore the relationship between the self and the world, and new forms of perception.

About the Saudi Ministry of Culture
Saudi Arabia has a vast history of arts and culture. The Ministry of Culture is developing Saudi Arabia’s cultural economy and enriching the daily lives of citizens, residents, and visitors. Overseeing 11 sector-specific commissions, the Ministry works towards the support of and preservation of a vibrant culture that is true to its past and looks to the future by cherishing heritage and unleashing new and inspiring forms of expression for all.

About the Quality of Life Program
Launched in 2018 as part of Saudi Vision 2030, is dedicated to enhancing the quality of life for individuals and families. This program focuses on creating an enabling environment that supports and develops new opportunities, encouraging participation in cultural, entertainment, sports, tourism activities, and other activities that contribute to improving quality of life. The program aims to generate employment, diversify economic activities, and elevate the status of Saudi cities in global rankings of the best cities to live in.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240617411724/en/

Contact

teamLab Social Branding Team
E-mail: lab-pr-info@team-lab.com
Media inquiry: https://www.teamlab.art/contact/

Source : teamLab

AACSB'S INAUGURAL AFRICA CONFERENCE

TAMPA, Fla., June 19 (Bernama-GLOBE NEWSWIRE) -- AACSB International, the world’s largest business education association, will host its first Africa Conference. This inaugural event will convene business educators and business leaders in Africa and beyond, to discuss innovations in entrepreneurship, sustainability, and accreditation in the region. The collaborations coming out of this conference will help shape a brighter, more sustainable future of business in Africa.

We believe your journalistic insights and expertise would help enhance the conversations at this event and allow the opportunity to connect with forward-thinking leaders.

What: Africa Conference

Who: Forward-thinking business educators and business leaders looking to connect with likeminded individuals or business schools in Africa

When: July 24-26, 2024

Where: Pretoria, South Africa

AACSB is scheduling conversations with Geoff Perry, Executive Vice President and Chief Membership Officer, AACSB International to take place at and after the event. Secure a reservation now by reaching out to Leah McBride at mediarelations@aacsb.edu.

About AACSB International

Established in 1916, AACSB International (AACSB) is the world’s largest business education alliance, connecting educators, learners, and business to create the next generation of great leaders. With members in over 100 countries and territories, AACSB fosters engagement, accelerates innovation, and amplifies impact in business education. Learn how AACSB and business schools from around the world are leading boldly in business education at aacsb.edu. 

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EY ANNOUNCES MIKE JACKOWSKI OF DUCK CREEK TECHNOLOGIES AS AN ENTREPRENEUR OF THE YEAR® 2024 NEW ENGLAND AWARD WINNER

Celebrating the bold leaders who disrupt markets, revolutionize industries and transform lives

BOSTON, June 19 (Bernama-GLOBE NEWSWIRE) -- Ernst & Young LLP (EY US) announced that Mike Jackowski, CEO of Duck Creek Technologies, was named an Entrepreneur Of The Year® 2024 New England Award winner. Entrepreneur Of The Year is the preeminent competitive awards program for entrepreneurs and leaders of high-growth companies.

Jackowski was selected by an independent judging panel made up of previous award winners, leading CEOs and other business leaders. Candidates were evaluated based on their ability to create long-term value through entrepreneurial spirit, commitment to their purpose and the demonstration of growth and substantial impact, among other key indicators.

“I am honored and humbled to be recognized as an Entrepreneur Of The Year® in New England,” said Jackowski. “I have the privilege of working alongside some of the finest and most talented professionals in the insurance industry and this award would not be possible without the support of the entire Duck Creek team. On behalf of Duck Creek, I thank Ernst & Young and the judging panel for bestowing this award to us.”

As a New England award winner, Jackowski is now eligible for consideration for the Entrepreneur Of The Year 2024 National Awards. The National Award winners, including the Entrepreneur Of The Year National Overall Award winner, will be announced in November at the Strategic Growth Forum®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies. The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the World Entrepreneur Of The Year® Award in June 2025.

Entrepreneur Of The Year recognizes many different types of business leaders for their ingenuity, courage and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to fortify it for the future.

The Entrepreneur Of The Year program has recognized the leadership of entrepreneurs such as:

· Daymond John of FUBU
· Holly Thaggard and Amanda Baldwin of Supergoop!
· James Park of Fitbit
· Jodi Berg of Vitamix
· Kendra Scott of Kendra Scott LLC
· Michael Happe of Winnebago Industries
· Reid Hoffman and Jeff Weiner of LinkedIn Corporation
· Sheila Mikhail of AskBio 

Entrepreneur Of The Year Award winners become lifetime members of a global, multi-industry community of entrepreneurs. They receive exclusive, ongoing access to the experience, insight and wisdom of program alumni and other ecosystem members in more than 60 countries — all supported by vast EY resources.

In addition to Entrepreneur Of The Year, EY US supports other entrepreneurs through the EY Entrepreneurial Winning Women™ (Winning Women) program and the EY Entrepreneurs Access Network (EAN) to help connect women founders and Black and Hispanic/Latino entrepreneurs, respectively, with the resources, network and access needed to unlock their full potential. 

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GIGAMON SURVEY SHOWS GLOBAL SECURITY LEADERS' STRUGGLE TO KEEP UP WITH CYBERTHREATS

KUALA LUMPUR, June 19 (Bernama) -- Gigamon, a leader in deep observability has revealed vulnerabilities in organisations’ preparedness to defend against increasingly sophisticated cyberthreats and attacks, in its newly published 2024 Hybrid Cloud Security Report.

Compared to last year’s report, the annual survey of over 1,000 Security and information technology (IT) leaders across Australia, France, Germany, Singapore, the United Kingdom, and the United States, showed a decline in detection and response capabilities year-on-year.

According to a statement, the research found one in three organisations were unable to detect a breach in the last 12 months, with just 25 per cent able to respond in real time, revealing a cybersecurity preparedness gap.

As hybrid cloud environments grow in complexity and threat actors launch a barrage of concealed attacks, 65 per cent of respondents believed their existing security tooling could not effectively detect breaches.

Security and IT leaders are at a crucial juncture. The spectre of artificial intelligence (AI)-powered cyber attacks looms globally, with 82 per cent of respondents predicting that AI will increase the global ransomware threat.

And yet, despite global information security spending projected to reach US$215 billion in 2024, only half (54 per cent) of organisations feel “strongly prepared” to respond to unauthorised access to their hybrid cloud environments. (US$1=RM4.70)

The research also delves into the insights of 234 chief information security officers (CISOs) globally, with the results highlighting that CISOs continue to bear the burden of regulatory and technological pressures, with 69 per cent reporting they struggle to detect encrypted threats, compared to 59 per cent of the total respondents.

Furthermore, an alarming 70 per cent of CISOs believed their tools were not as effective as they could be in detecting breaches, and as a result 59 per cent say they would be most empowered by cyber risk becoming a boardroom priority.

The 2024 Hybrid Cloud Security survey was commissioned by Gigamon and fielded in collaboration with Vitreous World, and the data is based on findings of an online survey of 1,033 global respondents from March 22 to April 6.

-- BERNAMA

CORPAY CROSS-BORDER CONTINUES GLOBAL EXPANSION WITH LAUNCH OF NEW OFFICE IN NEW ZEALAND

The expansion aims to offer more localized support to clients in the region and provide innovative solutions tailored to the local market

TORONTO, June 18 (Bernama-BUSINESS WIRE) -- Corpay, Inc.*, (NYSE: CPAY), a global leader in corporate payments, is pleased to announce the latest expansion of its Cross-Border business with the establishment of a new office in Auckland, New Zealand. This expansion reinforces the company’s leading position in the payment industry and strengthens its presence in the Asia-Pacific region.

“Our decision to establish a presence in New Zealand underscores our commitment to prioritizing our current and future clients’ evolving needs,” says David Britten, Managing Director, APAC, Corpay Cross-Border Solutions. “While we may not be the first player in the New Zealand market, our years of experience in collaborating with our clients in Australia enable us to provide tailored services that suit their needs. We recognize a profound synergy between these two nations.”

The New Zealand office will provide clients with access to Corpay’s Cross-Border business’s full suite of products, including global payments and in the case of wholesale customers, currency risk management solutions as well. 

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AM BEST AFFIRMS CREDIT RATINGS OF ASIAN REINSURANCE CORPORATION

SINGAPORE, June 14 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Asian Reinsurance Corporation (Asian Re) (Thailand). The outlook of these Credit Ratings (ratings) is positive.

The ratings reflect Asian Re’s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management (ERM).

The positive outlooks reflect AM Best’s expectation that the successful execution of Asian Re’s business plan will lead to an improving trend in underwriting and operating performance metrics over the intermediate term.

Asian Re’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which was at the strongest level at year-end 2023, as measured by Best’s Capital Adequacy Ratio (BCAR), and is expected to remain at this level over the medium term. Notwithstanding, the company is viewed to have a modest absolute capital base of USD 73 million at year-end 2023 as compared with regional reinsurance peers, which increases the sensitivity of its balance sheet to shock events. A significant offsetting balance sheet strength factor remains Asian Re’s high risk investment strategy, which includes the holding of a sizeable balance of cash and deposits in a sanctioned country and in a country that defaulted on its sovereign debt. Although the company has reduced its holdings of some of these assets in recent years, AM Best views this investment strategy as creating increased liquidity and credit risk for Asian Re, as the imposition of existing and future sanctions and/or economic crisis in these respective countries drives a heightened risk of transfer restrictions and/or asset write-offs.

AM Best views Asian Re’s operating performance as marginal, albeit with an improving trend. The company’s operating performance has exhibited volatility in recent years, with a five-year average return-on-equity ratio of 1.5% and a combined ratio of 110.3% (2019-2023), as calculated by AM Best. The company has reported positive operating results in four of the past five years. Underwriting performance in 2020 was hampered by a reserve strengthening exercise and higher-than-expected claims experience. Following remediation actions undertaken by the company, the combined ratio improved to 101.6% in 2023 (2022: 103.3%), taking into account losses arising from the Turkey earthquake and Typhoon Doksuri. Prospectively, AM Best expects Asian Re to execute on a business plan aimed at improving underwriting results, which coupled with robust investment returns, is expected to support positive overall earnings prospectively.

AM Best views Asian Re’s business profile as limited, reflecting its position as a regional non-life reinsurer, with a modest-sized gross premium base of USD 26 million in 2023. The company writes treaty and facultative business in Asia, the Middle East and Africa. The company continues to grow its book of business, with a focus on improved diversification by geography and line of business, following a significant contraction in 2011 driven by severe catastrophe events and the subsequent need to recapitalise. Despite persistent market and regulatory challenges, Asian Re is expected to continue to implement several strategic initiatives and business partnerships aimed at expanding its underwriting portfolio and market presence over the medium term.

AM Best considers Asian Re’s ERM approach to be appropriate relative to the current size and complexity of its operations. The company continues to develop its risk management framework and has demonstrated improvements in its risk management capabilities over recent years.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Contact

Sin Yee Chuah, CFA
Senior Financial Analyst
+65 6303 5022
sinyee.chuah@ambest.com

Victoria Ohorodnyk
Director, Analytics
+65 6303 5020
victoria.ohorodnyk@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

Carbon Market Heading Towards Greater Integrity - Calyx Global Report

 

KUALA LUMPUR, June 12 (Bernama) -- An analysis of the state of quality in the voluntary carbon market gives early indications that the market is moving towards higher integrity, according to a report by carbon credit ratings platform, Calyx Global.

“We wanted to start tracking quality, recognising that the voluntary carbon market is starting to mature. The quicker we improve carbon credit quality and restore confidence, the more effective companies can be at addressing climate change,” said Calyx Global Co-founder, Donna Lee.

According to a statement, key findings in the report stated that the issuance of lowest-grade credits has dropped nearly 50 per cent as a proportion of total issued credits to date, this year.

In addition, quality updates related to improving the rules and requirements for credit generation have not yet made their way onto the active market.

Furthermore, while benefits “beyond carbon” are attractive to buyers, it is a search for higher greenhouse gas (GHG) integrity that is driving trends in the market today.

The report integrates data on market trends from Calyx Global’s ratings of over 500 carbon projects to provide unique insights on how efforts to improve market integrity are faring.

After widespread pressure and scrutiny from the media and academia, many market actors have moved to address issues with the quality of carbon credits, in which this report tracks the effectiveness of those efforts.

-- BERNAMA

TEALIUM’S DIGITAL VELOCITY RETURNS, DEEP-DIVING ON CONSUMER DATA DEPLOYMENT

KUALA LUMPUR, June 5 (Bernama) -- Tealium, the largest independent and most trusted customer data platform (CDP), is set to host three flagship Digital Velocity conferences in-person for customers and partners in North America, Europe, and Asia Pacific regions.

According to Tealium in a statement, the 10th annual flagship conference is hosted in San Diego, London, and Sydney, bringing together customers and partners from around the world.

Themed Welcome to the Real-Time Revolution: Where Moments Matter, this year’s conference will showcase how customer data can be used to enhance business and customer experience results, specifically in the areas of artificial intelligence (AI), privacy, and compliance.

Its Chief Executive Officer, Jeff Lunsford said Tealium’s real-time platform helped brands take customer experience initiatives to new heights.

“We enable companies to dazzle customers during their most pivotal moments through data-driven personalisation and seamless digital experiences that prioritise trust and respect for consumer privacy.

“This year at Digital Velocity, we will be deep-diving into how we make that possible for the enterprises we serve globally, featuring use cases directly from our customers,” he said.

This year, Tealium announces strategic investments in several areas as part of its commitment to innovation including Tealium Trust Platform; real-time data; new AI-powered solutions for more intelligent insights; and expanded partnerships to leverage customers’ existing and new partner integrations for a more centralised infrastructure.

The company’s 2024 Digital Velocity for Europe, Middle East, and Africa (EMEA) is taking place in London from June 4 to 5; North America in San Diego (June 10 to 12); and Asia, Pacific, Japan (APJ) in Crown Sydney (June 27).

Tealium is also continuing to innovate within highly-regulated industries and has now launched Tealium for Healthcare, in which this new suite of solutions supports healthcare companies in reimagining the patient experience, all while prioritising Health Insurance Portability and Accountability Act.

-- BERNAMA

WESTERN UNION EXPANDS COLLABORATION WITH TENCENT FINANCIAL TECHNOLOGY

• Customers around the world can now send international money transfers from Western Union’s branded digital channels directly to China’s Weixin (WeChat) users
• Expansion builds on Western Union’s existing service — Weixin users in China can choose to receive Western Union money transfers into their Weixin Pay wallets and linked bank accounts

BEIJING, June 5 (Bernama-BUSINESS WIRE) -- Western Union today announced that it has expanded its collaboration with Tencent Financial Technology to partner with Tenpay Global, Tencent’s cross-border payment platform. Customers around the world can now send money from westernunion.com and Western Union’s app directly to their loved ones’ wallets and bank accounts based in China and available within Weixin — known globally as WeChat.

Western Union operates one of the world’s largest money transfer networks. The expanded collaboration underpins Western Union’s Evolve 25 strategy to accelerate digital growth by providing even greater choice, accessibility and convenience for its customers when transferring money internationally.

Unlocking convenience with enhanced global access

This enhancement builds on Western Union’s existing relationship with Tencent Financial Technology and Shanghai Pudong Development Bank. In the current collaboration, Weixin users in China have the choice to use their Money Transfer Control Number (MTCN) to route their Western Union money transfers, originally intended for cash collection, to their bank accounts instead.

Today’s announcement adds onto this, so senders abroad can also now push money transfers directly to their receivers’ wallets or bank accounts available within Weixin’s platform. Customers can send up to USD 5,000 (or local equivalent) per transaction¹.

“We are thrilled to expand our services on Weixin, one of the top digital platforms in China that plays a significant role in the lives of over 1 billion users,” said Sohini Rajola, Head of Asia Pacific at Western Union. “China is the third-largest recipient of remittances globally, receiving approximately USD 50 billion in 2023. Through our collaboration with Tenpay Global, we are excited to further enhance our services to meet the evolving needs of customers. By providing a convenient and seamless experience for our customers, we are reaffirming our commitment to customer-centric innovation that empowers individuals and families to send and receive money across borders.”

Creating global connections for China’s digital-savvy consumers

China is known for its digital-savvy population. Industry reports state that China has long been the global leader in digital wallet adoption, underscoring the importance of digital-first money transfer avenues for customers.

“We are fully committed to improving the user experience, aiming to make cross-border transfers as simple as sending a message,” said Royal Chen, Vice President of Tencent Financial Technology. “Our focus lies in providing fast, convenient, and secure solutions that connect China with the global community. Weixin is a digital bridge that allows global users to connect across borders. As we move forward, we are constantly innovating to facilitate the creation of a borderless payment network.”

Combining Weixin’s extensive user base and Western Union’s global reach, the collaboration represents a significant step forward in making financial services accessible to all by offering customers greater flexibility and convenience with their money transfer needs. It reaffirms the companies’ shared mission to serve customers’ digital needs by providing fast, reliable and seamless cross-border transactions.

¹Additional conditions and limits may apply, depending on send country regulations.

About Western Union

The Western Union Company (NYSE: WU) is committed to helping people around the world who aspire to build financial futures for themselves, their loved ones and their communities. Our leading cross-border, cross-currency money movement, payments and digital financial services empower consumers, businesses, financial institutions and governments—across more than 200 countries and territories and over 130 currencies—to connect with billions of bank accounts, millions of digital wallets and cards, and a global footprint of hundreds of thousands of retail locations. Our goal is to offer accessible financial services that help people and communities prosper. For more information, visit www.westernunion.com.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240604427521/en/

Contact

Media contacts:

Saadia McGlinchey
saadia.mcglinchey@wu.com

Karen Santos
karen.santos2@westernunion.com

Source : The Western Union Company

AM BEST AFFIRMS CREDIT RATINGS AND ASSIGNS NATIONAL SCALE RATING TO VIETNAM NATIONAL REINSURANCE CORPORATION

SINGAPORE, June 4 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb+ (Good) of Vietnam National Reinsurance Corporation (VINARE) (Vietnam). The outlook of these Credit Ratings (ratings) is stable. Additionally, AM Best has assigned the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to VINARE with a stable outlook.

The ratings reflect VINARE’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

VINARE’s balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which is expected to remain at the strongest level over the medium term. The company’s regulatory solvency position remains comfortably above the minimum requirement by a wide margin. Offsetting balance sheet strength factors include the company’s moderate investment risk, due to its holdings of equity investments, and high dividend payout ratio. Additionally, VINARE exhibits a moderate reliance on retrocession to support its underwriting of large commercial risks; however, the risk associated with this dependence is mitigated partly by the good credit quality of the retrocession panel.

AM Best views the company’s operating performance as strong, supported by its five-year average return-on-equity ratio of 10.2% (2019-2023). Underwriting results remained favourable in 2023, with the company reporting a combined ratio of 98%, supported by favourable underwriting performance from its core property and engineering lines. Investment income remains as the key contributor to the company’s overall earnings, with net investment yield of 10.1% in 2023 (2022: 5.8%). VINARE continued to achieve technical profitability in the first three months of 2024, supported by robust loss ratio and improving expense ratio. Prospectively, AM Best expects the company to continue delivering strong operating performance, supported by favourable underwriting performance and robust investment income.

AM Best considers VINARE’s business profile as neutral. As the national reinsurer of Vietnam, VINARE has established long-standing relationships with local cedants, supporting its position in Vietnam’s insurance market, where it generates the majority of its premium. The company has a well-diversified underwriting portfolio by lines of business, with a good balance between commercial and retail risks. Nonetheless, VINARE is exposed to elevated product risk given its sizable exposure to commercial and industrial risks.

AM Best views the company’s ERM as appropriate given the developed reporting system and prudent risk management approach. Risk management framework and risk modelling capabilities have benefited and are expected to continue developing under the technical support and expertise provided by the company’s second-largest shareholder, Swiss Reinsurance Company Ltd.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. 

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NIPPON EXPRESS OBTAINS "HALAL" CERTIFICATION FOR FUKUOKA CHUO LOGISTICS CENTER

TOKYO, June 4, 2024 /Kyodo JBN/ --

- Delivering Wagyu Beef and Other Japanese Food Products in Growing Demand Worldwide -
 
Nippon Express Co., Ltd. (hereinafter "Nippon Express"), a group company of NIPPON EXPRESS HOLDINGS, INC., has newly acquired "halal" logistics certification (endorsed as permissible under Islamic law) from the Nippon Asia Halal Association for its Fukuoka Air Service Branch’s Fukuoka Chuo Logistics Center, effective April 30.
 
Logo: https://kyodonewsprwire.jp/img/202405271306-O3-91B5HXWA
 
Photos
Exterior view of Fukuoka Chuo Logistics Center:
https://cdn.kyodonewsprwire.jp/prwfile/release/
M103866/202405271306/_prw_PI1fl_n6f7j6Xx.jpg
 
Project members and certificate:
https://cdn.kyodonewsprwire.jp/prwfile/release/
M103866/202405271306/_prw_PI2fl_KfsJyK2E.jpg
 
- Background to certification
Kyushu, as a beef producing region, is a major exporter of Wagyu beef to the U.S., Hong Kong, and elsewhere. Beef exports from Kyushu have been rising year after year, and demand is growing in the United Arab Emirates and among the large Muslim populations of Southeast Asia. The demand for Japanese halal beef is expected to increase further with the establishment in May of an "Export Support Platform" in Malaysia by Japan’s Ministry of Agriculture, Forestry and Fisheries.
 
The Fukuoka Air Service Branch completed construction of the Fukuoka Chuo Logistics Center in July 2019, and to date has handled a large number of fresh food products exported from all over Kyushu. The Branch has now acquired halal logistics certification to meet the needs of customers involved in the export of increasingly in-demand halal products by utilizing the knowledge it has cultivated over the years.
 
With the growing popularity of Japanese food products among people of diverse cultural backgrounds around the world, the NX Group is committed to further expanding its halal logistics service network to support customers' supply chains and continue offering safety and reliability to consumers worldwide.
 
- Profile of business location
Name: Fukuoka Chuo Logistics Center, Fukuoka Air Service Branch, Nippon Express Co., Ltd.
Address: Enokida 2-9-48, Hakata-ku, Fukuoka, Fukuoka Prefecture
Warehouse area: 2,279.23 m2
 
About the NX Group:
https://kyodonewsprwire.jp/attach/202405271306-O1-D2PJN2Lx.pdf
 
NX Group official website: https://www.nipponexpress.com/
 
NX Group's official LinkedIn account:
https://www.linkedin.com/company/nippon-express-group/
 
 
Source: NIPPON EXPRESS HOLDINGS, INC. 

http://mrem.bernama.com/viewsm.php?idm=48729

BIOGNOSYS LAUNCHES GROUNDBREAKING P2 PLASMA ENRICHMENT TECHNOLOGY FOR UNBIASED, DEEP PLASMA PROTEOMICS AT ASMS 2024

·  The proprietary P2 Plasma Enrichment method leverages a novel single-well, single particle-type enrichment method to achieve market-leading performance for unbiased, deep mass spectrometry-based plasma proteomics

·  P2 now offers excellent quantitation and higher throughput for large-cohort biomarker or drug discovery studies, and clinical, epidemiological or population proteomics research

·  P2 Plasma Enrichment is available as a CRO service via Biognosys’ TrueDiscovery^® platform, or as an in-house method for high-performance mass spectrometry end-users via licensing

·  With the optional additional combination of TrueDiscovery^® unbiased, deep mass spectrometry proteomics workflows with targeted Alamar NULISA affinity-based ultra-high sensitivity proteomics panels, Biognosys now enables the most quantitative and complete access to the human plasma proteome
 
ZURICH, Switzerland and NEWTON, Mass., May 31 (Bernama-GLOBE NEWSWIRE) -- Biognosys, a leader in next-generation proteomics services, software and kits for life sciences research and drug development, today announced the launch of the novel, proprietary P2 Plasma Enrichment method for single-well, single particle-type enrichment with market leading performance and sensible, superior economics. P2-based plasma proteomics can be used for human or for animal-model proteomics studies and clinical research.

This novel P2 plasma proteomics method achieves a proteome coverage of 7,000 proteins in a previously published five-cancer plasma sample set, demonstrating highest reproducibility, unprecedented enrichment of low abundant proteins, and unparalleled throughput on Bruker timsTOF® HT mass spectrometers. The technical features and performance data will be presented at the American Society of Mass Spectrometry (ASMS) Annual Conference in Anaheim, CA on Monday, June 3^rd during Biognosys’ Breakfast Seminar, “Accelerating Drug Discovery and Development with Biognosys’ Next-Generation Proteomics Services,” and on Wednesday, June 5^th during the WP 084 poster session. 

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