Heart attack, stroke and cancer account for 60% of life insurance claims in the region – Zurich consumer report reveals

 Dubai, United Arab Emirates - Friday, 31. May 2024 AETOSWire

Over the last three years, Zurich has paid out more than US$210 million across individual and group life claims.

 

Key highlights:

Claims for living benefits surpassed life insurance claims for the first time, amounting to 56% of the total claims, a 6% increase compared to last year, suggesting a growing trend and increased emphasis on supporting customers during their lifetimes.

Heart attacks and strokes remain the primary cause of death, accounting for 36% of claims, followed by cancer at 25%.

Cancer constitutes 80% of cases in women, with ovarian cancer as the second leading cause; while 1 out of 4 men have claimed insurance for cancer, with prostate and stomach cancer among the leading causes.

 

Zurich International Life, part of Zurich Insurance Group (Zurich), has just revealed their claims payouts, reaching US$210 million across individual and group life claims. Their recent Customer Claims Paid Report 2024 highlights the major causes of life and critical illness claims. This year, individual claims amounted to US$170 million, compared to last year’s US$160 million, necessitating a closer examination of individual lifestyle choices. The rise in claims for life and critical illness cover is primarily attributed to heart disease and cancer, which have alone accounted for 60% of life claims.

The report is based on living and life cover benefits claims made against Zurich’s retail and group life policies between 2021 and 2023 and highlights a notable shift in the distribution of insurance claims. Surprisingly, the report revealed that claims for living benefits surpassed life insurance claims for the first time, amounting to 56% of the total claims, a 6% increase compared to last year.

“People must carefully assess their personal lifestyle choices, examine the potential associated risks and accordingly create a life plan to protect the future of their loved ones,” said Deepak Gaur, Head of Claims & Corporate Operations at Zurich. “Transparency in communication with your insurance adviser is paramount, to ensure informed decision-making when planning your finances. This will ensure individuals receive the best protection for themselves and their families,” he added.

A case for living benefits       

Living benefits ensure that your loved ones have financial security even if you’re unable to work due to illness or injury, helping maintain their financial stability. According to the report, heart attacks, strokes, and cancer have continued to remain significant contributors to critical illness claims, collectively constituting a staggering 92%. They also accounted for 60% of overall life insurance claims, underscoring the profound impact of these health conditions on individuals' lives and the importance of having comprehensive coverage.

The report highlights significant differences in claim patterns between men and women, shedding light on the need for tailored insurance solutions that address unique health conditions. While existing beliefs often suggest otherwise, cancer affects both men and women. Among critical illness claims, cancer constitutes 80% for women, yet it's crucial to recognise that men also face substantial cancer risks. Notably, 1 out of 4 men have used their insurance cover for cancer, with prostate and stomach cancer ranking among the leading causes.

According to the report, women have accounted for 44% of death and 80% of critical illness claims, primarily attributed to cancer, over the past three years. Additionally, claims for heart attacks and strokes have doubled for women, rising from 7% to 14% in just a year. These findings emphasise the need to assess potential health risks, considering factors such as lifestyle choices, age, and habits. By acknowledging and addressing gender-specific differences, insurance providers can better serve customers and ensure impartial access to financial protection.

Life’s uncertain at any age

The report underscores the inadequacy of a one-size-fits-all approach when it comes to life insurance and critical illness cover, stressing the importance of understanding diverse demographics. This year, the average age of life cover claimants decreased to 53, while the age range of claimants has widened from 27 to 80, marking a four-year increase from 2023.

Notably, the youngest critical illness claimant was two years old, while the oldest was 84, emphasising the universal necessity for insurance coverage across all life stages.

How much is enough?

Securing the financial well-being of non-earning family members who provide you with the support you need is extremely crucial. Zurich recognises this and offers a practical solution to assess your life insurance needs. The insurance coverage that you take should cover your current and future financial obligations.

Taking the first step is crucial, but seeking guidance from a financial adviser is essential to gain a comprehensive understanding of your situation and needs. They can offer invaluable insights into critical factors such as age, health status, and dependents, significantly influencing insurance costs. Armed with this personalised knowledge, customers can request coverage plans that precisely align with their financial and life goals and needs.

Take the first step towards your protected future

“At Zurich, we prioritise our customers’ health and comfort. Over the past three years, we've paid out 98% of all life claims across 73 countries. We ensure that we’re there for our customers in their time of need, without any hassle – settling claims within 72 hours of receiving all required documents,” said Deepak. “Life insurance is essential for financial security but having a reliable partner matters just as much. Our promise to you is to pay you, on time, wherever you are.”

The report underscores the importance of tailored solutions that address personal situations and health conditions, ensuring comprehensive coverage for individuals at every stage of life. As individuals take proactive steps towards securing their futures, Zurich stands ready to serve as a trusted partner, offering peace of mind and reliable support in times of need.

About Zurich Insurance Group

Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.

Reflecting its purpose to ‘create a brighter future together’, Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.

The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.

About Zurich International Life

Zurich International Life Limited is a part of Zurich Insurance Group and was established in the Isle of Man, which is licensed by the Isle of Man Financial Services Authority with established and registered branches in the UAE licensed by the Central Bank of the UAE. It is registered (Registration No. 63) under UAE Federal Law Number 6 of 2007, and its activities in the UAE are governed by such law.

Further information about Zurich International Life is available at www.zurich.ae.

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Contacts

Melwyn Abraham 

melwyn@matrixdubai.com

Noura Tabbaa 

noura@matrixdubai.com

ExaGrid Wins 3 Industry Awards at Network Computing Awards 2024

 ExaGrid named “Company of the Year” for 5th year in a row

(BUSINESS WIRE)--ExaGrid®, the industry’s only Tiered Backup Storage solution with Retention Time-Lock that includes a non-network-facing tier (creating a tiered air gap), delayed deletes and immutability for ransomware recovery, today announced that the company was honored with three industry awards, including Company of the Year, Hardware Product of the Year, and the Return on Investment Award during the Network Computing Awards ceremony, held in London on May 23, 2024.

ExaGrid continues to gain recognition for its Tiered Backup Storage, winning four industry awards so far in 2024, including:

• Data Breakthrough Awards – Data Backup Solution of the Year
• Network Computing Awards – Company of the Year
• Network Computing Awards – Hardware Product of the Year
• Network Computing Awards – Return on Investment Award

The Network Computing Awards are determined by public vote. The 2024 awards mark the sixth consecutive year of wins for ExaGrid at the Network Computing Awards, and the fifth consecutive year that ExaGrid has won the Company of Year award.

“We are honored to win these three awards, especially to be recognized as Company of the Year again, and we are grateful to our partners and customers for their support. Congratulations to all of the winners of the Network Computing Awards 2024, and many thanks to everyone who voted for us,” said Bill Andrews, President and CEO of ExaGrid. “As highlighted by the Return on Investment Award, ExaGrid continues to innovate its product, and improve the economics of backup storage by providing advanced integration and improved deduplication with the leading backup applications, and offering a scale-out architecture which eliminates expensive forklift upgrades and planned product obsolescence, all while delivering the best performance, security, and ransomware recovery solution at a low cost up front over time.”

About ExaGrid

ExaGrid provides Tiered Backup Storage with a unique disk-cache Landing Zone, long-term retention repository, and scale-out architecture. ExaGrid’s Landing Zone provides for the fastest backups, restores, and instant VM recoveries. The Repository Tier offers the lowest cost for long-term retention. ExaGrid’s scale-out architecture includes full appliances and ensures a fixed-length backup window as data grows, eliminating expensive forklift upgrades and product obsolescence. ExaGrid offers the only two-tiered backup storage approach with a non-network-facing tier, delayed deletes, and immutable objects to recover from ransomware attacks.

ExaGrid has physical sales and pre-sales systems engineers in the following countries: Argentina, Australia, Benelux, Brazil, Canada, Chile, CIS, Colombia, Czech Republic, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Nordics, Poland, Portugal, Qatar, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Turkey, United Arab Emirates, United Kingdom, United States, and other regions.

Visit us at exagrid.com or connect with us on LinkedIn. See what our customers have to say about their own ExaGrid experiences and learn why they now spend significantly less time on backup storage in our customer success stories. ExaGrid is proud of our +81 NPS score!

ExaGrid is a registered trademark of ExaGrid Systems, Inc. All other trademarks are the property of their respective holders.

 

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Media:
Mary Domenichelli
ExaGrid
mdomenichelli@exagrid.com

Tulip Innovation Launches New Patent Licensing Program based on LG Energy Solution and Panasonic Energy Lithium-Ion Battery Technologies

 

BUDAPEST, Hungary - 

Battery manufacturers now have an efficient and flexible way to access rights under broad patent portfolios of more than 5,000 patents encompassing critical IP from two industry pioneers.

 

(BUSINESS WIRE)--Tulip Innovation Kft. today announced the launch of a new licensing program aggregating patents related to lithium-ion battery technology from LG Energy Solution, Ltd. (LG Energy Solution) and Panasonic Energy Co., Ltd. (Panasonic Energy). Tulip’s new licensing program is based on a combined portfolio of more than 5,000 LG Energy Solution and Panasonic Energy patents from over 1,500 patent families and is available to all battery manufacturers globally. This program represents the largest aggregation of patents offered for license in the battery industry to date.

LG Energy Solution and Panasonic Energy are leaders and pioneers in lithium-ion battery technology, with a history of groundbreaking innovation spanning more than two decades and significant investments in research and development annually. These companies have successfully developed - and served as the principal contributors to - many of the most widely deployed battery technologies in the world.

Tulip’s program offers battery manufacturers a new efficient and alternative way of accessing this wide range of patented technologies from LG Energy Solution and Panasonic Energy through a single license. The patent portfolio licensed by Tulip covers a broad spectrum of materials and processes related to cathode, anode, electrolyte, separator, and electrode, as well as structures and processes related to cells, modules, and packs.

“With standardized agreements, streamlined administration, and a single point of contact, Tulip offers considerable advantages for manufacturers who are ready to obtain the IP licenses necessary to cover their lithium-ion battery operations under the LG Energy Solution and Panasonic Energy patent portfolios,” said Giustino de Sanctis, CEO of Tulip.

Tulip’s engagement as licensing administrator reflects the trust in its team of experienced patent licensing professionals shared by both LG Energy Solution and Panasonic Energy.

“The Tulip program is an excellent opportunity for companies active in lithium-ion battery manufacturing to obtain broad licenses on major technology areas that could serve as bedrocks for their businesses,” said Jay Kim, Chief Technology Officer of LG Energy Solution. “By providing a fair patent license opportunity to industry latecomers, Tulip will contribute to upholding fair and competitive market condition in the battery industry.”

“Creating a fair competitive environment through this program will foster innovation in green technology, thereby contributing to achieving a more sustainable society,” said Shoichiro Watanabe, Chief Technology Officer of Panasonic Energy. “Tulip’s unique ability to provide licensees with tailored solutions, combined with a deep understanding of the technologies and industry standards, along with simplified reporting and administrative procedures, will significantly benefit all stakeholders involved.”

For more information, please visit www.tulipinnovation.com.

About Tulip Innovation

Tulip Innovation Kft. is an independent company founded to establish and manage the lithium-ion battery licensing program. Based in Hungary, the hub of European battery manufacturing, Tulip’s mission is to collaborate with companies implementing Li-ion battery technology to ensure that their manufacturing operations have access to Tulip’s robust IP portfolio. Led by a team of licensing professionals with decades of experience, Tulip has a unique combination of strong industry connections and expertise in negotiating and administering patent licenses. Additional information is available at www.tulipinnovation.com

About LG Energy Solution

LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://news.lgensol.com.

About Panasonic Energy

Panasonic Energy Co., Ltd., established in April 2022 as part of the Panasonic Group's switch to an operating company system, provides innovative battery technology-based products and solutions globally. Through its automotive lithium-ion batteries, storage battery systems and dry batteries, the company brings safe, reliable, and convenient power to a broad range of business areas, from mobility and social infrastructure to medical and consumer products. Panasonic Energy is committed to contributing to a society that realizes happiness and environmental sustainability, and through its business activities the Company aims to address societal issues while taking the lead on environmental initiatives. For more details, please visit https://www.panasonic.com/global/energy/.

 

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tulip@berlinrosen.com

New Poll Shows Three Quarters of Smokers Believe Vaping Misinformation

 PRAGUE - 

(BUSINESS WIRE)--The global network We Are Innovation has today published the results of a poll showing a staggering three-quarters of smokers wrongly believe vaping is just as harmful as smoking.

Recent research conducted by Ipsos reveals that 74 percent of smokers worldwide believe that vaping is at least as harmful as smoking. This alarming Misperception Epidemic perpetuates a cycle of preventable illness and death, as individuals are deterred from switching to safer alternatives. The potential consequences of this are dire.

Countries that have successfully reduced smoking prevalence have empowered smokers to access alternative products, such as vapes and nicotine pouches, accompanied by accurate information about their relative risks.

Sweden has lowered smoking rates to 5.6 percent, just above the threshold at which a country becomes officially “smoke-free.” At the same time, New Zealand, which has more recently adopted smoke-free alternative products, has slashed smoking prevalence to 6.5 percent in just a few years.

Suppose a significant portion of smokers remain under the false impression that vaping is as harmful as cigarette smoking. In that case, smokers will be deterred from switching and condemned to a life of ill health and premature death despite robust evidence showing that vaping is 95 percent less harmful and effective at helping smokers quit.

Marking World Vape Day and calling for a sea change in the way public health agencies talk about vaping, We Are Innovation CEO Federico Fernandez said:

“Vaping is one of the public health success stories of the 21st century. Innovation has given us a product that is proven to be 95 percent less harmful than smoking. But misinformation is rife and threatens to undermine our progress. Public health authorities can’t ignore this any longer – smokers must have access to acceptable and affordable vapes to help them switch.”

ABOUT WE ARE INNOVATION

We Are Innovation is a network of individuals and institutions who fervently believe in the power of innovation to drive progress and solve the world’s most pressing problems. With a global presence encompassing over 40 think tanks, foundations, and NGOs, WAI represents the diverse voices of a global civil society committed to advancing human creativity, embracing new technologies, and promoting innovative solutions. Through our collaborative approach and cutting-edge expertise, we are spearheading transformative change globally. Visit us at https://weareinnovation.global/.

 

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Contacts

info@somosinnovacion.lat

+44 7460 970216

 

Cadmus Announces Katja Silva-Leander as United Kingdom Managing Director

ARLINGTON, Va. - Thursday, 30. May 2024

Silva-Leander to Enhance Cadmus' Global Market Expansion


(BUSINESS WIRE)--Cadmus, a leading provider of technical and strategic expertise to governments, energy utilities, and private sector companies worldwide, is pleased to announce the appointment of Katja Silva-Leander as Managing Director of its United Kingdom operations.

With more than two decades of experience in international development, including in economic growth and development and climate finance, Silva-Leander brings a wealth of expertise to her new role. As the leader of Cadmus UK’s operations, she will spearhead the growth and execution of its portfolio of donor-funded programs.

In her new capacity, Silva-Leander will focus on enhancing Cadmus UK’s impact across the globe with clients such as the U.K. Foreign, Commonwealth & Development Office, British International Investment, the U.K Department for Environment, Food & Rural Affairs, and others. Her efforts will target areas such as climate resilience, digital transformation, economic growth, gender and social inclusion, governance, and monitoring and evaluation.

"Joining Cadmus is an exciting opportunity to contribute to our mission of solving complex global challenges," said Katja Silva-Leander. "I am eager to work with the talented team at Cadmus to deliver positive, sustainable change for our clients and drive strategic initiatives that benefit our clients and communities.”

Prior to joining Cadmus, Silva-Leander held key positions where she successfully managed large-scale donor programs and played an integral role in securing new business from major donors and development finance institutions such as the Foreign, Commonwealth & Development Office, the World Bank, Proparco, and the United Nations.

“Katja’s experience and expertise in areas of vital importance to the future of international development make her the ideal leader to support Cadmus’ UK-based clients and operations,” said President and CEO Ian Kline. “I am delighted to welcome her to Cadmus.”

About Cadmus

Cadmus is a strategic and technical consultancy compelled to help solve the world’s most challenging problems. We assemble outstanding teams of leading experts with an ethos grounded in collaboration and a drive for impact, who work seamlessly across disciplines and leverage transformative technologies to help our clients achieve extraordinary outcomes. Together, we are strengthening society and the natural world. Cadmus’ more than 1,000 consultants serve government, commercial, and nongovernmental organizations around the world. For more information, visit www.cadmusgroup.com.

 

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Contacts

Helle Huxley, CMO
The Cadmus Group LLC
Tel: (240) 204-6200
Email: communications@cadmusgroup.com

Pudgy Penguins and Mythical Games Partner to Create AAA Mobile Video Game

 PFP collection Pudgy Penguins is to launch its first blockchain-enabled mobile video game through a collaboration with gaming studio Mythical Games on Mythical Platform next year

 

(BUSINESS WIRE)--Pudgy Penguins, the brand development company behind the series of globally recognized Pudgy Penguins characters, and next-generation gaming technology studio Mythical Games today announced a partnership to create a unique web3-enabled mobile video game. The partnership unites the creators of the globally recognized Pudgy Penguins characters and the gaming studio behind two of the most successful blockchain games ever, NFL Rivals and Blankos Block Party.

Details of the forthcoming game developed in conjunction with Mythical Games were announced at Consensus 2024. The upcoming mobile game will be an immersive video game drawing upon the lore and humor that have made Pudgy Penguins so beloved, coupled with AAA quality, playability, and accessibility synonymous with Mythical Games' title NFL Rivals. The new game is scheduled to launch on the Mythical platform in 2025, home to NFL Rivals, with over 5 million players, and the Mythos Chain (MYTH), with over one million active wallets.

“Web3 in gaming is evolving quickly, but one thing that hasn’t changed is the need for games to be powered by strong communities and great gameplay,” said John Linden, Mythical Games CEO. “Pudgy Penguins is the only web3 project to truly go mainstream through their incredible retail partnerships with Walmart and Target and their rapidly growing social media following. We are excited to combine their efforts with a game that will be played by millions. Building this with Mythical Games on the Mythical Platform and Mythos Chain, already used by millions of consumers, is going to be a major driver to further push web3 with mainstream consumers.”

Luca Netz, CEO of Pudgy Penguins said: “When we decided to create a mobile-first AAA blockchain-based Pudgy Penguins game, working with Mythical Games is something that excited me. Our growth strategy that has reached millions, combined with Mythical Games’ experience and success with gaming, sets up this endeavor for success. We can’t wait to show the Pudgy Penguins community what’s in store and solicit their feedback as development ramps up.”

In the build-up to its release, Pudgy Penguins holders will be treated to exclusive content, sneak peeks of in-game footage and given the opportunity to help shape key aspects of the game’s development. The game is designed to appeal to the Pudgy Penguins community as well as the broader gaming market to further grow the Pudgy Penguins’ brand and ethos.

Ahead of the game's launch in 2025, interested players can join Pudgy Penguins Discord, and follow Pudgy Penguins (@pudgypenguins) and Mythical Games (@playmythical) Twitter/X accounts to stay updated on the upcoming game.

About Pudgy Penguins

Pudgy Penguins is dedicated to making Web3 accessible to everyone by creating innovative products that enable seamless onboarding. Their focus on community empowerment and building brand awareness has made them a leader in the Web3 space while also disrupting the traditional web2, retail sphere. They're committed to impacting the everyday consumer and shaping the future of Web3.

Learn more: https://www.pudgypenguins.com/

About Mythical Games

Acknowledged by Fast Company’s World Changing Ideas 2021 and recently Forbes’ Best Startup Employers (2024), Mythical Games is a next-generation game company creating world-class games and empowering players to take ownership of their in-game assets through the use of blockchain technology. The team has helped develop major franchises, including Call of Duty, Call of Duty Mobile, World of Warcraft, Diablo, Overwatch, Magic: The Gathering, EA Madden, Harry Potter Hogwarts Mystery, Marvel Strike Force, Modern Warfare 3, and Skylanders.

The Mythical Marketplace, the first in-game blockchain Marketplace on iOS and Android, provides gamers with ownership and control over the purchase and sale of digital assets, while the Mythical Platform protects gamers that may be new to blockchain through a custodial wallet for their digital items.

Mythical Games is one of the 22 founding member companies of the Mythos Foundation (http://mythos.foundation) utilizing the Mythos Chain as its blockchain and Mythos’ MYTH token as the utility token for the Mythical Marketplace.

 

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Contacts

Nate Nesbitt

Head of Communications

nate.nesbitt@mythical.games

 

Lenovo ranks 10th in the Gartner® Supply Chain Top 25 for 2024 report

 (BUSINESS WIRE) -- Lenovo has once again been ranked in the Gartner Supply Chain Top 25 for 2024, ranking tenth in this list of global companies with exceptional supply chains. The Gartner Supply Chain Top 25 is a renowned annual ranking of the world’s superior supply chains. From financial and corporate social responsibility data and community opinion, the Gartner Supply Chain Top 25 for 2024 report, celebrates and profiles companies demonstrating excellence in supply chain management.

Over the last 12 months, Lenovo has intensified its focus on key areas in its supply chain, including security, digital transformation, and environmental sustainability, alongside the company’s global/local approach to drive greater efficiencies and improved customer outcomes.

Today, Lenovo’s global hybrid manufacturing network includes 30+ manufacturing sites spanning 10 markets in the 180 markets Lenovo does business in, including Argentina, Brazil, China, Germany, Hungary, India, Japan, Mexico, and the US. This ensures the supply chain remains resilient and can adapt to any disruption.

Lenovo’s supply chain is one of the clearest examples of its global/local strategy and delivers not only operational efficiencies for the business but a definitive advantage to customers through a focus on manufacturing in Europe for Europe, the Americas for the Americas, and Asia for Asia. Bringing manufacturing closer to customers shortens the local supply chain, utilizes the local skilled labor force, and supports Lenovo's sustainability goals through more sustainable manufacturing methods. Building devices close to customers dramatically reduce the freight miles these products incur, providing more efficient and sustainable transportation options. As an example, since becoming operational in 2022, Lenovo’s European manufacturing facility in Hungary has shipped over 1.5 million workstations and servers to over 2,500 customers in 70 markets across EMEA.

Che Min (Jammi) Tu, Senior Vice President and Group Operations Officer, Lenovo, said, “Our supply chain has always been a towering strength for Lenovo and remains fundamental to our future success. Over the past few years, we’ve seen the topic of supply chains make headlines around the world when the flow of goods is impacted and the knock-on effect this has on a business and its reputation. What’s clearer than ever today is that a company’s supply chain is a competitive advantage and can no longer be considered a cost center. In fact, at Lenovo, we’ve successfully transitioned our global supply chain into a commercial center and profit pool. We are also pioneering Manufacturing as a Service, as well as developing and incubating new technologies and solutions within our manufacturing facilities and logistics services that we can offer our customers. For us, we’re incredibly proud that we continue to be recognized as having one of the most exceptional supply chains in the world across all industries.”

Lenovo's commitment to delivering innovation, efficiency, and resilience to customers worldwide is underpinned by its resilient supply chain, ensuring cutting-edge products reach customers securely.

Lenovo's supply chain security approach is built on a foundation of prevention. Suppliers and components are vigorously vetted, with the company’s security-by-design approach embedded into the product lifecycle. By taking a proactive stance against backdoors, tainted products, counterfeits, and hardware/software vulnerabilities, Lenovo safeguards its products and sets a high industry standard for supply chain security.

Doug Fisher, SVP and Chief Security Officer, Lenovo, said, “Lenovo is dedicated to driving supply chain security through leadership, so we remain in front of the supply chain evolution. Our goal is to ensure our products are safe, highly resilient, and trustworthy before entering our customers’ environment. We attest to the integrity of each device right down to the lowest levels in the system.”

Lenovo also remains committed to ESG. It was in the first group of companies and the first PC and smartphone maker to have targets validated in alignment to Science Based Targets initiative’s Net-Zero Standard. It continues to focus on future-proofing its operations by making the supply chain more robust, adaptable, and profitable and recently released Lenovo ESG Navigator, a digital solution for collecting and measuring ESG data points – like energy use - from factory sites in real time.

With the development of an AI-powered ESG assessment system such as Lenovo’s Intelligence Sustainability Solutions Advisor (LISSA), Lenovo is empowering customers with actionable sustainability insights from across the global supply chain to understand the estimated emissions impact across their IT lifecycle and make critical decisions to decrease emissions. Initially developed to support supply chain decision-making, LISSA has now been commercially deployed to support customers’ IT sustainability goals.

As part of Lenovo’s drive towards the circular economy, utilizing the supply chain for customers’ after-sales support, where possible, returned components are repaired by engineers, quality-tested, and reused. To date, 4m+ components, including motherboards, processors, drives, memory, and more, have been diverted from landfills for reuse within the product lifecycle.

About the Gartner Supply Chain Top 25 ranking and methodology

The Supply Chain Top 25 ranking comprises two main components: business performance and opinion. Business performance in the form of public financial and ESG (environmental, social, governance) data provides a view into how companies have performed in the past three years, while the opinion component offers an eye to future potential and reflects leadership in the supply chain community. These two components are combined into a total composite score.

Gartner derives a list of companies from a combination of the Fortune Global 500 and the Forbes Global 2000. In an effort to maintain the list of companies evaluated at a manageable level, a general annual revenue threshold of $15 billion has been applied and companies without physical supply chains are excluded.

Read the full Gartner Supply Chain Top 25 for 2024 Report here.

Gartner Press Release: Gartner Announces 20th Annual Rankings of the Global Supply Chain Top 25, May 22, 2024.

Gartner Insights, The Gartner Supply Chain Top 25 for 2024, https://www.gartner.com/en/supply-chain/research/supply-chain-top-25.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. 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 & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Lenovo

Lenovo is a US$57 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company with a pocket-to cloud portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (server, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo’s continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub.

 

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Contacts

Stuart Gill
Director of Global Media Relations, Campaigns, and Corporate Content
Corporate Marketing Group +44 (0)7917 437 532
sgill@lenovo.com

 

The LYCRA Company participates in panel at the United Nations Fashion and Lifestyle Network Annual Meeting

 WILMINGTON, Del. - Thursday, 30. May 2024

Sustainability director discusses bio-derived LYCRA® fiber made with QIRA®

 

(BUSINESS WIRE)--The LYCRA Company, a global leader in developing innovative and sustainable fiber and technology solutions for the apparel and personal care industries, is a 2024 thought leadership partner of the United Nations Fashion and Lifestyle Network and will be participating in the third annual meeting on June 3 at the United Nations (UN) Headquarters in New York City.

Jean Hegedus, The LYCRA Company’s sustainability director, will be joining the panel discussion on “Elevating Fashion: Sustainable Practices and Strategic Insights in the Apparel Industry.” She will highlight The LYCRA Company’s collaboration with Qore® to use its QIRA® product to potentially help reduce the carbon footprint of LYCRA® fiber by up to 44 percent.*

Available in early 2025, patented bio-derived LYCRA® fiber made with QIRA® will consist of 70 percent renewable content derived from dent corn. This renewable spandex will be the first available on a large scale and it will deliver equivalent performance to traditional LYCRA® fiber without requiring re-engineering of processes, garment patterns or fabrics.

“Collaboration among industry stakeholders across the value chain is critical if we want to achieve our sustainability goals and reduce our carbon footprint,” said Hegedus. “We are committed to providing our customers with solutions to shared challenges like decarbonization.”

This important annual meeting brings together media, industry stakeholders, governments, and UN entities to advance knowledge, promote collaboration and enable action to meet Sustainable Development Goals (SDGs) in the fashion and lifestyle sectors.

“We are excited to welcome Jean Hegedus back to our third annual meeting,” said Kerry Bannigan, co-founder, United Nations Fashion and Lifestyle Network. “As a Network Member, The LYCRA Company has demonstrated a clear commitment to collaboration and transparency in support of SDGs and driving positive impact in the industry.”

The United Nations Fashion and Lifestyle Network is led by the United Nations Office for Partnerships and the Fashion Impact Fund. The Network stands as a catalyst for sustainable development within the fashion and lifestyle sectors. To learn more about the upcoming meeting and to watch it live, click here.

*Estimate from Cradle-to-Gate Screening LCA for a representative LYCRA® fiber manufacturing facility, June 2022, prepared by Ramboll Americas Engineering Solutions, Inc.

About The LYCRA Company

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries and owns the leading consumer brands: LYCRA®, LYCRA HyFit®, LYCRA® T400®, COOLMAX®, THERMOLITE®, ELASPAN®, SUPPLEX® and TACTEL®. Headquartered in Wilmington, Delaware, U.S., The LYCRA Company is recognized worldwide for its sustainable products, technical expertise, and marketing support. The LYCRA Company focuses on adding value to its customers’ products by developing unique innovations designed to meet the consumer’s need for comfort and lasting performance. For more information, visit lycra.com.

About United Nations Fashion and Lifestyle Network

The United Nations Fashion and Lifestyle Network is a collaboration between the United Nations Office for Partnerships and the Fashion Impact Fund, dedicated to advancing sustainable development goals within the fashion and lifestyle sectors. For more information, visit this website.

About Qore® LLC

Formed through a joint venture by Cargill and HELM AG, Qore® helps leading brands replace fossil-based chemistries with bio-derived intermediates. At the heart of the joint venture is the production of QIRA®, the next-generation bio-derived 1,4-butanediol (BDO). Made biologically through the fermentation of plant-based sugars, QIRA® can save up to 86% of greenhouse gas emissions when replacing today’s widely used chemical intermediates made from traditional fossil sources. Bio-derived QIRA® can be used the same way as its fossil counterpart but with significantly better environmental performance. Qore® and QIRA® are trademarks of Qore® LLC. For more information and inquiries visit myqira.com.

LYCRA® is a trademark of The LYCRA Company. 

QIRA® is a trademark of Qore®.

 

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Contacts

Karie J. Ford

Karie.J.Ford@lycra.com

 

Mavenir Announces up to $75 Million Investment From an Existing Investor

 RICHARDSON, Texas 

(BUSINESS WIRE)--Mavenir, the cloud-native network infrastructure provider building the future of networks, today announced up to a $75 million investment from an existing investor. The additional capital will drive Mavenir’s business strategy, anchored in end-to-end 5G transformation.

Pardeep Kohli, President and CEO of Mavenir, commented: “Mavenir continues to be an industry leader at the forefront of network innovation and automation. With our investor group’s support, we will accelerate strategic investments in Open RAN and 5G Core solutions and efficiently meet our product roadmap. We are excited to continue building networks of the future for the benefit of our customers and partners.”

Terry Hungle, CFO of Mavenir, commented: “The steadfast support and confidence from our partners sets us up for long-term success. This positions us for growth as we accelerate the 5G transformation and bolster the global expansion for our products and solutions.”

Notes to the editor:

Recent investment related press releases

- Mavenir Raises $100 Million of Capital to Accelerate Investments in Strategic Growth Products - Mavenir

- Mavenir Raises $155 Million of Capital to Accelerate Investments in Strategic Growth Products - Mavenir

- Mavenir Announces $500 Million Private Placement with Koch Strategic Platforms - Mavenir

About Mavenir:

Mavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com.

 

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Contacts

 

Mavenir PR Contact:

Emmanuela Spiteri

PR@mavenir.com

Sunway Group Selects Rimini Street’s Software Support and Managed Services to Fund and Staff AI and CX Projects

 With significant cost savings and optimization of IT resources, Malaysian conglomerate reallocates people, time and money towards digital transformation initiatives

(BUSINESS WIRE)--Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced that Sunway Group, Malaysia’s leading conglomerate, has selected Rimini ONE™, Rimini Street’s powerful combination of Rimini Support™ and Rimini Manage™ services, to improve software support and capabilities, optimize IT spending, and reallocate resources towards strategic digital transformation projects.

Kevin Khoo, chief information officer of Sunway, shared, “Rimini Street has enabled our acceleration in digital adoption journey by providing cost savings which we reinvested back into technology initiatives, has given us peace of mind with our system support needs, and confidence in our ability to explore new opportunities because we know Rimini Street will always be able to support us.”

Sunway Finds a Trusted IT Partner and Growth Enabler in Rimini Street

In early 2000, Sunway selected JD Edwards as its core ERP system, adopting it across all 13 businesses of the conglomerate which includes construction, property, healthcare, leisure, hospitality, REITs and more.

“JD Edwards made it so easy for us to customize to meet our business needs. We put in our best practices into the system, and created a center of excellence that can do a lot of JD Edwards implementation customization by ourselves,” said Khoo. “But when we had to do a software upgrade, the process cost a lot, not only the dollar value, but also the downtime associated with the upgrades and the people that we have to put into the project, which includes implementation, testing and support after the upgrade.”

He adds, “The people that we have doing the upgrade, we could have found better use for them. There are many digital initiatives the group would like to embrace. However, because of the resources that were stuck in the upgrade process, these projects were constantly pushed behind.”

Another challenge for Khoo and team were the hurdles it took to get support from Oracle when critical issues arose. Khoo recalled, “Here we are fighting fire, and all we can do is wait. Oracle typically does not support customizations, and will begin to ask questions such as ‘Is this part of their work, or is this something that we have to address ourselves?’”

After speaking with many Rimini Street clients and receiving “nothing short of amazing comments,” according to Khoo, he began his engagement by first selecting Rimini Support, then adding Rimini Manage following the success and value derived from the former.

Since choosing Rimini Street as their trusted IT partner, Sunway continues to benefit from:

Direct access to a named, dedicated Primary Support Engineer (PSE) backed by the expertise and knowledge of hundreds of engineers across the globe

Expert support and management of its software including support for customizations at no extra charge

Guaranteed 15 additional years of stable, reliable and compliant ERP investment

Savings of 50% on annual support fees and up to 90% on total support costs

“The cost savings from Rimini Street have given us the opportunity to invest in innovation, especially AI. Every dollar we’ve saved has been reinvested to strategic technology adoption that aligns with our key business goals,” said Khoo. “Without Rimini, a ton of our projects would still be stuck at the proposal stage. Instead, they’ve allowed us to start executing AI projects and other major tech initiatives that will be fundamental to competing and providing an excellent customer experience going forward.”

Learn more about Sunway Group’s story of innovation in partnership with Rimini Street here.

Explore the full Rimini Street portfolio of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and Rimini ONE™ end-to-end outsourcing solutions for SAP, Oracle and Salesforce applications to support competitive advantage, profitability and growth.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,500 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit riministreet.com, and connect with Rimini Street on Twitter, Instagram, Facebook and LinkedIn. (IR-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “anticipate,” “believe,” “continue,” “could,” “currently,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seem,” “seek,” “should,” “will,” “would” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period revenue and costs; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to sustain or achieve revenue growth or profitability, manage our cost of revenue and accurately forecast revenue; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel, including sales personnel, and retain key personnel; challenges of managing growth profitably; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate tax reserves; the impact of environmental, social and governance (ESG) matters; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 2, 2024, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2024 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

 

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Contacts

 

Janet Ravin

VP, Global Communications

Rimini Street, Inc.

+1 702 285-3532

pr@riministreet.com

 

AMD, Broadcom, Cisco, Google, Hewlett Packard Enterprise, Intel, Meta and Microsoft Form Ultra Accelerator Link (UALink) Promoter Group to Drive Data Center AI Connectivity

 BEAVERTON, Ore. - Thursday, 30. May 2024 AETOSWire Print 

Group Developing Open Industry Standard Interface for Enabling High-performance, Low-latency Communications Interconnect for Next-generation AI Accelerators in Data Centers

 

(BUSINESS WIRE)--AMD, Broadcom, Cisco, Google, Hewlett Packard Enterprise (HPE), Intel, Meta and Microsoft today announced they have aligned to develop a new industry standard dedicated to advancing high-speed and low latency communication for scale-up AI systems linking in Data Centers.

Called the Ultra Accelerator Link (UALink), this initial group will define and establish an open industry standard that will enable AI accelerators to communicate more effectively. By creating an interconnect based upon open standards, UALink will enable system OEMs, IT professionals and system integrators to create a pathway for easier integration, greater flexibility and scalability of their AI-connected data centers.

The Promoter Group companies bring extensive experience creating large-scale AI and HPC solutions based on open standards, efficiency and robust ecosystem support.

Driving Scale-Up for AI Workloads

As the demand for AI compute grows, it is critical to have a robust, low-latency and efficient scale-up network that can easily add computing resources to a single instance. Creating an open, industry standard specification for scale-up capabilities will help to establish an open and high-performance environment for AI workloads, providing the highest performance possible.

This is where UALink and an industry specification becomes critical to standardize the interface for AI and Machine Learning, HPC, and Cloud applications for the next generation of AI data centers and implementations. The group will develop a specification to define a high-speed, low-latency interconnect for scale-up communications between accelerators and switches in AI computing pods.

The 1.0 specification will enable the connection of up to 1,024 accelerators within an AI computing pod and allow for direct loads and stores between the memory attached to accelerators, such as GPUs, in the pod. The UALink Promoter Group has formed the UALink Consortium and expects it to be incorporated in Q3 of 2024. The 1.0 specification is expected to be available in Q3 of 2024 and made available to companies that join the Ultra Accelerator Link (UALink) Consortium.

About Ultra Accelerator Link

Ultra Accelerator Link (UALink) is a high-speed accelerator interconnect technology that advances next-generation AI/ML cluster performance. AMD, Broadcom, Cisco, Google, HPE, Intel, Meta and Microsoft are forming an open industry standard body to develop technical specifications that facilitate breakthrough performance for emerging usage models while supporting an open ecosystem for data center accelerators.

Supporting Quotes

“The work being done by the companies in UALink to create an open, high performance and scalable accelerator fabric is critical for the future of AI. Together, we bring extensive experience in creating large scale AI and high-performance computing solutions that are based on open-standards, efficiency and robust ecosystem support. AMD is committed to contributing our expertise, technologies and capabilities to the group as well as other open industry efforts to advance all aspects of AI technology and solidify an open AI ecosystem.” – Forrest Norrod, executive vice president and general manager, Data Center Solutions Group, AMD

"Broadcom is proud to be one of the founding members of the UALink Consortium, building upon our long-term commitment to increase large-scale AI technology implementation into data centers. It is critical to support an open ecosystem collaboration to enable scale-up networks with a variety of high-speed and low-latency solutions.” – Jas Tremblay, vice president and general manager of the Data Center Solutions Group, Broadcom

“Ultra-high performance interconnects are becoming increasingly important as AI workloads continue to grow in size and scope. Together, we are committed to developing the UALink which will be a scalable and open solution available to help overcome some of the challenges with building AI supercomputers.” – Martin Lund, Executive Vice President, Common Hardware Group, Cisco

“Open standards are important to HPE as we innovate in supercomputing and increase access to systems. As a founding member of the UALink industry consortium, we look forward to contributing our expertise in high performance networking and systems, and collaborating to develop a new open standard for accelerator interconnects for the next generation of supercomputing.” – Trish Damkroger, senior vice president and general manager, HPC & AI Infrastructure Solutions, HPE

“UALink is an important milestone for the advancement of Artificial Intelligence computing. Intel is proud to co-lead this new technology and bring our expertise in creating an open, dynamic AI ecosystem. As a founding member of this new consortium, we look forward to a new wave of industry innovation and customer value delivered though the UALink standard. This initiative extends Intel’s commitment to AI connectivity innovation that includes leadership roles in the Ultra Ethernet Consortium and other standards bodies.” – Sachin Katti, SVP & GM, Network and Edge Group, Intel Corporation

“In a very short period of time, the technology industry has embraced challenges that AI and HPC have uncovered. Interconnecting accelerators like GPUs requires a holistic perspective when seeking to improve efficiencies and performance. At UEC, we believe that UALink’s scale-up approach to solving pod cluster issues complements our own scale-out protocol, and we are looking forward to collaborating together on creating an open, ecosystem-friendly, industry-wide solution that addresses both kinds of needs in the future.” – J Metz, Ph.D., Chair, Ultra Ethernet Consortium

 

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Contacts

Nolan Morgan

+1 971-271-2657

nmorgan@nereus-worldwide.com

We Are Innovation and Anglo-American University Hosted the Exclusive Premiere of "How Sweden Quit Smoking"

  (BUSINESS WIRE) -- We Are Innovation, and the Anglo-American University organized the exclusive screening of the documentary "How Sweden Quit Smoking." This event, held in the heart of Prague, covered the remarkable Swedish journey towards smoke-free status. The documentary highlights the impact of human creativity, innovation, and personal responsibility that can lead to healthier societies worldwide. The premiere was followed by a discussion panel featuring international health experts and innovation advocates.

"How Sweden Quit Smoking" is a documentary directed by the award-winning Polish filmmaker Tomasz Agencki that narrates how Sweden achieved the lowest smoking rate in Europe. Through interviews with health experts, scholars, activists, and other stakeholders, the film provides an in-depth look at the innovative products and societal shifts that have contributed to this public health success story.

Dr Anders Milton, former chairman of the World Medical Association, stated, “There should be increased Tobacco Harm Reduction awareness and adoption. The ‘No smoke, less harm’ principle should be employed by fundamentally differentiating between combustible and smoke-free products. Besides, policymakers should adopt a risk-proportionate regulatory framework for all nicotine products, based on the risk continuum.”

Federico N. Fernández, the CEO of We Are Innovation and the producer of the movie, added, “The Swedish model demonstrates that when smokers have access to diverse, affordable, and appealing alternative nicotine products (ANPs), they are more likely to switch from combustible cigarettes and experience the associated health benefits. However, misinformation worldwide about the relative risks of ANPs compared to smoking is widespread, hindering the adoption of these potentially life-saving alternatives.”

About We Are Innovation

We Are Innovation is a dynamic network of individuals and institutions who deeply believe in innovation’s power to drive progress and solve the world’s most pressing problems. With over 40 think tanks, foundations, and NGOs based worldwide, We Are Innovation represents the diverse voices of a global civil society committed to advancing human creativity, adopting new technologies, and promoting innovative solutions. Through our collaborative approach and cutting-edge expertise, we are driving global transformative change.

 

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info@somosinnovacion.lat
+447560970216

UAE commits additional $6.26b in industrial offtakes

 

Government enterprises and private companies in the UAE committed an additional $6.26 billion to local manufacturing during the Make it in the Emirates (MIITE) Forum, which concluded on Tuesday. Organized by the Ministry of Industry and Advanced Technology (MoIAT), the forum witnessed a series of announcements, including a $820 million commitment to buy locally produced medical equipment. The local procurement announcements build on offtakes generated by the two previous editions of the forum, raising the total value to $38.93 billion representing 2,000 products for local manufacturing.

These commitments a part of a series of multi-billion-dollar agreements and initiatives announced at MIITE aimed at promoting economic self-sufficiency and attracting investment to the UAE. Eighty-two agreements were signed during MIITE, supporting Operation 300bn, a strategy aimed at increasing manufacturing value added to $81 billion by 2031.

Industrial projects and investments worth more than $5.44 billion were announced during MIITE, including a $12 million investment to launch UAE’s first microalgae producer. UK-based Levidian announced a $100 million investment in a new Regional Delivery Centre in Abu Dhabi, targeting $2 billion in revenues by 2030 and promising to create hundreds of jobs.

MoIAT launched the AI Innovation Program to help industrial companies integrate AI in their operations. The program is backed by $100 million of financing from Emirates Development Bank (EDB). EDB partnered with commercial banks to provide $272 million worth of co-lending to support industrial companies. Another initiative, Transform 4.0, was launched with the aim of creating 100 Industry 4.0 lighthouses over the next three-to-five years.

His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, said: “The third edition of the Make it in the Emirates Forum marks a significant gathering of pace and momentum for the UAE’s industrial sector. In just three years, since the establishment of the ministry, the industrial sector’s contribution to GDP has grown 49% to AED 197 billion ($53.64). The country has emerged as a truly global hub for industrial investment and innovation, attracting some of the world's biggest names and best talents.

“The announcements made this week will enhance national resilience in key sectors such as energy, healthcare and food, but also create strong investment opportunities for companies seeking to unlock the new wave of value being created by Operation 300bn.”

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Contacts

Sara Al Qarout, 00971529456243

salqarout@apcoworldwide.com

Boyd Watterson & Amber Infrastructure Jointly Announce Strategic Transaction

CLEVELAND & LONDON - Thursday, 30. May 2024

Strategic combination will create a leading global alternatives investment platform, nearly doubling assets under management, and providing scale to better serve a global client base.

(BUSINESS WIRE)--Boyd Watterson Asset Management, LLC (“Boyd Watterson”) (www.boydwatterson.com) and Amber Infrastructure Group Holdings Limited (“Amber”) (www.amberinfrastructure.com) jointly announced that the businesses will come together under a common parent company to create a global diversified Real Estate, Infrastructure, and Fixed Income asset management platform (the “Company”). Upon closing, the Company through its operating subsidiaries will be a premier global alternatives investment manager with over three-hundred investment personnel, offices in eight US cities and twelve countries. The firm will have approximately $35.7 billion in assets under management. While the financial terms of the transaction have not been disclosed, the Company’s shareholders upon closing will be comprised of the existing shareholders in Boyd Watterson and Amber.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240530809315/en/

Founded in 1928 by its predecessor firm, Boyd Watterson is headquartered in Cleveland, OH and has $18.2 billion in total assets under management (“AUM”) across its Real Estate and Fixed Income investment portfolios. Boyd has a reputation for creating bespoke investment solutions that deliver attractive, risk-adjusted returns to its clients.

Founded in 2009, Amber is headquartered in London, UK and oversees £14 billion or approximately US$17.5 billion in AUM. Amber specializes in mobilizing private capital to deliver essential infrastructure projects globally across sectors.

Hunt Companies (www.huntcompanies.com), an investor in both companies, recognized the complementary businesses and facilitated the transaction.

“With the combination of Amber Infrastructure Group, we are broadening our scope and opening up exciting new investment opportunities for our clients,” said Brian Gevry, CEO of Boyd Watterson. “We are both recognized leaders in our asset classes with exceptional talent who continually strive to outperform customer expectations. Now we will have greater reach and ability to build on each team’s respective expertise to deliver products and performance to a global client base.”

Brian Gevry will serve as Chairman and CEO of the combined parent entity, and Gavin Tait, Amber’s current CEO, will continue to serve as the head of Amber and oversee the Infrastructure business globally, reporting to Brian Gevry.

“We are very excited about integrating with Boyd Watterson and the long-term investment outlook this alignment brings to our customers,” said Tait. “Both firms have a keen focus on delivering outstanding client service and proven expertise in partnering with governments around the world. The planned combination will create greater scale for Amber to grow its global infrastructure business, including US Infrastructure opportunities, while bringing new opportunities for Boyd Watterson’s clients.”

The transaction is subject to Boyd Watterson’s and Amber’s respective client and investor consent processes as well as UK FCA consent and other customary regulatory approvals.

Transaction Rationale

Boyd Watterson’s and Amber’s clients, partners, and employees should benefit significantly from the enhanced scale of the combined, global platform underpinned by a diversified revenue base, expanded product opportunities, and enhanced investment acumen. In summary, the transaction:

Provides a robust business model for both companies by enhancing the size and scale of both organizations to the benefit of their respective clients.

Creates broader scope with a diversified investment platform enhancing Boyd Watterson’s and Amber’s shared heritage as long-term, trusted partners to clients, government entities, tenants, employees, and investors.

Combines two teams with demonstrated track record and deep expertise in their respective, government-linked sectors.

Combines culturally aligned partners with like-minded management.

Expands global reach and provides new investment opportunities and access to capital.

Provides opportunities to strategically enhance systems and share business best practices.

Advisors

For Boyd Watterson, Berkshire Global Advisors served as financial advisor and Goodwin Procter LLP served as legal advisor. Dechert LLP served as legal advisor to Amber and Hunt. Milbank LLP served as legal advisor to Amber’s minority shareholders.

About Boyd Watterson

Founded in 1928 by its predecessor firm, Boyd Watterson Asset Management, LLC (Boyd) is a leading real estate and fixed income investment manager. Headquartered in Cleveland, Ohio, Boyd employs 130 employees in seven offices across the US. Boyd manages c.US$18.2bn of AUM, through separately managed accounts and a number of funds with real estate and fixed income strategies. www.boydwatterson.com

About Amber Infrastructure Group

Amber is a specialist international investment manager, focused on investment origination, asset management and fund management. Amber currently manages or advises 9 funds (2 listed and 7 private) with over £5billion (c.$6billion) in funds under management. With a presence across 12 countries, Amber manages 175 infrastructure investments representing total assets under management of £14 billion (c.$17.5billion). Amber’s core business focuses on managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors internationally. Amber is headquartered in London with offices in Europe, North America, Australia and New Zealand. Amber employs over 180 professionals globally. www.amberinfrastructure.com

About Hunt Companies

Hunt Companies is a family-owned principal investment firm founded in 1947 based in El Paso, TX with interests in the real estate, infrastructure and financial services sectors. As an owner operator with a strong investment platform and financial structuring expertise, Hunt develops lasting relationships to create value for its investors, clients, employees and communities. The company and its affiliates are committed to promoting community growth and a sustainable future through our business practices, purpose driven investment and charitable giving. www.huntcompanies.com

 

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Contacts

 

Carolyn Baker

SVP Corporate Communications

Hunt Companies

carolyn.baker@huntcompanies.com

m: +1 856/298-2036

Truecaller Surpasses 400 Million Active Users

 WASHINGTON 

(BUSINESS WIRE)--Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, is proud to announce the very significant milestone of 400 million users monthly. Truecaller continues to grow rapidly in many different geographic markets and has since 31 March this year grown with 10.1 million users.

“Reaching 400 million active users each month is something we are, of course, very proud of, but at the same time, we know that the need for a solution like Truecaller is significantly greater. The problem of unwanted communication, spam, and fraud over the phone is unfortunately only growing for both individuals and businesses. New technology and increased opportunities for fraudsters to make money are driving this development. We continue to develop our app and add new functionality to protect our users before, during, and after a phone call or SMS,” says Alan Mamedi, co-founder and CEO of Truecaller.

Truecaller reported an average of 383.4 million active users per month during the first quarter of 2024 and at the end of the quarter, the number of monthly active users was 389.9 million.

Truecaller will continue to report the average number of monthly and daily users on a quarterly basis in connection with interim reports.

About Truecaller

We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for over 400 million active users, with more than a billion downloads since launch and close to 50 billion unwanted calls identified and blocked in 2023. Headquartered in Stockholm since 2009, we are a co-founder-led, entrepreneurial company, with a highly experienced management team. Truecaller has been listed on Nasdaq Stockholm since October, 2021. Visit truecaller.com for more information.

 

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Contacts

 

Media Contact: press@truecaller.com