Friday, July 19, 2024

Aramco awards Engineering and Project Management agreement to Dar

 Dar Al-Handasah Consultants, (Shair and Partners), a Sidara Company, under an amendment to an existing framework agreement, will provide consultancy services, including engineering, design, project management, and multidisciplinary services for both existing and new infrastructure projects led by Aramco. The amendment, awarded in December 2023, provides for additional five years of general engineering and project management services – infrastructure (GESi) and can also be extended up to 3 additional years.

This award effectively extends a previous GESi framework agreement that Dar signed with Aramco in 2019 and builds on a historical relationship that dates back to 1957, and that has been characterized by the successful delivery of innovative and transformative projects across various sectors.

Commenting on the new framework agreement, Dar and Sidara’s Chairman and CEO Talal Shair said, “We are privileged to continue supporting Aramco in achieving its strategic objectives. We believe the new agreement validates and spotlights our contributions and provides us with an opportunity to continue to bring exceptional value to Aramco, leveraging the best of our expertise and capabilities, and that of all Sidara Companies.”

Dar has been active in the Kingdom of Saudi Arabia since 1957, successfully delivering more than 600 projects for over 100 clients. With seven offices across major cities in the Kingdom, the company currently employs over 3,000 employees, including more than 1,000 Saudi nationals. Beyond its contributions on numerous Aramco projects, Dar has played a role in many of the ambitious and visionary giga-projects that are currently in development across the Kingdom, particularly those that support the achievement of Vision 2030.


About Dar and Sidara

Dar is the founding member of Sidara, a global collective of the world’s brightest and best planners, designers, engineers, and consultants with over 20,000 professionals and over 300 offices across all geographies, who have come together on a shared mission: to advocate for the world as we would for our own home. Sidara’s pillar firms include Dar itself, Perkins&Will, TYLin Group, Currie&Brown, and Penspen.



Permalink

https://www.aetoswire.com/en/news/1907202440432

Contacts

Dar – Marketing & Communications 


Haya Yahya


MC@dar.com 

SLB Announces Second-Quarter 2024 Results

  LONDON - Friday, 19. July 2024 AETOSWire 



Revenue of $9.14 billion increased 5% sequentially and 13% year on year
GAAP EPS of $0.77 increased 4% sequentially and 7% year on year
EPS, excluding charges and credits, of $0.85 increased 13% sequentially and 18% year on year
Net income attributable to SLB of $1.11 billion increased 4% sequentially and 8% year on year
Adjusted EBITDA of $2.29 billion increased 11% sequentially and 17% year on year
Cash flow from operations was $1.44 billion and free cash flow was $776 million
Board approved quarterly cash dividend of $0.275 per share

(BUSINESS WIRE) -- Regulatory News:

SLB (NYSE: SLB) today announced results for the second-quarter 2024.

Broad-Based Growth Driven by the International Markets

SLB CEO Olivier Le Peuch commented, “We achieved solid second-quarter results, with broad-based international revenue growth and margin expansion across all Divisions. Our Core business continued to build on its positive momentum and our digital business accelerated, resulting in our highest quarterly international revenue since 2014. These results demonstrate SLB’s strong position in key, resilient markets, as we continue to benefit from elevated activity in the Middle East & Asia, particularly in gas, and our clients’ increased investments in deepwater basins, exploration, and digital.

“Sequentially, revenue grew 5%, led by the Middle East & Asia, which increased 6%. The increase in this area was driven by capacity expansions, gas development projects, and production and recovery, with a majority of GeoUnits in the area achieving record revenue. We also continued to benefit from our enhanced offshore exposure, particularly in deepwater basins across Latin America, Europe & Africa, and in the US Gulf of Mexico.

Production Systems, Reservoir Performance, and Digital Lead the Way

“Our Core Divisions—Reservoir Performance, Well Construction, and Production Systems—grew combined revenue by 4% sequentially and expanded pretax segment operating margin by 120 basis points (bps). This strong performance was driven by the international markets, where revenue once again reached a new cycle high.

“Sequentially, Production Systems grew by 7% and Reservoir Performance increased by 5%, with growth led by subsea production systems and with artificial lift, valves, surface production systems, intervention, and stimulation each posting their highest quarterly revenue of the cycle. This was the result of strong activity in Europe & Africa, Latin America, and the Middle East & Asia, stemming from the combination of long-cycle development activity and the acceleration of production and recovery investments. Meanwhile, Well Construction also grew sequentially with measurements and fluids each posting cycle-high quarterly revenue. This was supported by land activity and offshore developments in the Middle East & Asia and Latin America, partially offset by lower drilling in US land.

“Our Digital & Integration Division also performed well, with revenue increasing 10% sequentially. This was entirely driven by high-margin growth in digital, where revenue reached a new quarterly high and remains on track to achieve our high-teens growth ambition for the full year. Our strong results were fueled by exploration data license sales and the increased adoption of our Cloud, AI, and Edge technology platforms.

“Overall, our financial performance in the second quarter was strong as our adjusted EBITDA margin expanded 142 bps sequentially, cash flow from operations was $1.44 billion, and free cash flow was $776 million.

“Additionally, during the first half of the year, we returned $1.49 billion to shareholders through stock repurchases and dividends, and we are on track to return $3.0 billion to shareholders in 2024.

“Thank you to the SLB team for delivering such a strong performance this quarter. I look forward to building on these positive results throughout the rest of the year.”

Enhancing Margins with Further Opportunities Ahead

“Throughout the cycle, SLB has consistently achieved industry-leading financial results by leveraging our differentiated operating footprint and leading technical and digital offerings. As we continue to navigate this cycle, we are poised to capture quality revenue growth and unlock further margin expansion through increased technology deployment and digital adoption, as well as a heightened focus on operating efficiency and the optimization of our support structure.

“Looking ahead to the second half of the year, we expect ongoing momentum in the international markets, strong digital sales, and our cost efficiency programs will enable us to expand margins and deliver our ambition to grow full-year adjusted EBITDA in the mid-teens.

“Beyond 2024, the fundamentals of this cycle remain in place, and there is a long tailwind of growth opportunities, including long-cycle gas and deepwater projects, production and recovery activity, and the secular trends of digital and decarbonization. This represents a strong backdrop to continue our margin expansion and cash generation journey.

“Our strategy across our three engines of growth—Core, Digital, and New Energy—is built to harness each of these opportunities, and we are only becoming stronger through our elevated digital offerings, the additional capabilities of OneSubsea, and the announced pending acquisition of ChampionX.

“This business environment favors SLB’s strengths. With our continued performance and ongoing emphasis on capital discipline and cost efficiency, we remain well positioned to outperform the market and deliver on our commitment to returns to shareholders.”

Other Events

During the quarter, SLB repurchased 9.9 million shares of its common stock for a total purchase price of $465 million. For the first half of the year, SLB repurchased a total of 15.3 million shares of its common stock for a total purchase price of $735 million.

On May 29, 2024, SLB issued $500 million of 5.000% Senior Notes due 2027, $500 million of 5.000% Senior Notes due 2029, and $500 million of 5.000% Senior Notes due 2034.

On June 14, 2024, SLB and Aker Carbon Capture (ACC) announced the closing of their previously announced joint venture. The new company combines technology portfolios, expertise, and operations platforms to support accelerated carbon capture adoption for industrial decarbonization at scale. Following the transaction, SLB owns 80% of the combined business and ACC owns 20%.

On July 18, 2024, SLB’s Board of Directors approved a quarterly cash dividend of $0.275 per share of outstanding common stock, payable on October 10, 2024, to stockholders of record on September 4, 2024.



NTT DATA Unveils Ultralight Edge AI Platform

 Breaks down IT/OT silos with industry’s first fully managed Edge AI solution, enabling advanced AI use cases for industrial and manufacturing

Integrates and synthesizes data from sensors, devices and systems into a single data plane, facilitating seamless on-premises processing and real-time decisions

Smaller, task-specific AI models make advanced AI capabilities more accessible, reducing the costs and complexity of AI

(BUSINESS WIRE)--NTT DATA, a leading IT infrastructure and services company, unveiled its new Edge AI platform to accelerate IT/OT convergence by bringing AI processing to the edge. By processing data when and where it is generated and unifying diverse IoT devices, systems and data, this unique, fully managed solution enables real-time decisions, enhanced operational efficiencies and secure AI application deployment across industries to drive advanced Industry 4.0 technologies.


While the spotlight has been on GenAI and Large Language Models (LLMs), these technologies are impractical for industries requiring real-time and local decision-making. NTT DATA’s Edge AI solution addresses this challenge by processing massive data sets on compact computing platforms, using smaller, more efficient machine learning models to deliver real-time AI insights.


NTT DATA’s Edge AI is an all-inclusive managed service platform that includes all the systems, tools and capabilities required for AI at the edge. It addresses data discovery, collection, integration, computation power, seamless connectivity and AI model management.


The Edge AI platform, supported by NTT DATA’s consulting data scientists, managed services and global technical resources, addresses the shadow IoT challenge and AI infrastructure requirements. It does this by auto-discovering, unifying and processing data from IoT devices and IT assets across the organization, simplifying AI deployment and management.


Solving industry-specific challenges with AI-driven insights


Designed to support industry-specific requirements, the Edge AI platform leverages lighter, cost-effective AI models, enabling it to run within a small compute box. Edge AI will perform specific tasks, such as supporting safety or operational efficiency, by collecting data from disparate devices across a network environment, enabling instantaneous and secure data processing and analytics.


Manufacturing operations could benefit from improved predictive maintenance by accessing IT/OT data from sensors, machinery, cameras and applications to plan and address failures. In addition, NTT DATA’s Edge AI can monitor and optimize energy consumption in real time, predicting energy spikes and optimizing machine usage, reducing costs and CO2 emissions with renewable energy.


“Our Edge AI platform represents a significant leap forward in driving AI at the edge securely and cost-effectively,” said Shahid Ahmed, Group Executive Vice President of Edge Services at NTT DATA. “By harmonizing data from disparate sensors and devices with lightweight AI models, powering all kinds of automation use-cases, NTT DATA’s Edge AI is pioneering industrial AI adoption as the first fully managed offering, helping organizations modernize with tailored, industry-specific solutions.”


Seizing the US$200 billion market opportunity


According to IDC, worldwide spending on edge computing is expected to reach US$232 billion in 2024, an increase of 15% over 2023. This growth is perpetuated by the growing number of connected IoT devices worldwide, expected to exceed 41 billion by 2025.


NTT DATA is poised to capture significant market share through its dedicated IoT consulting and services business, which brings together 1,000 industry experts, hundreds of use cases from predictive maintenance, fleet management, connected factories, energy consumption monitoring and sustainability, and has already trained over 500 sales experts globally to accelerate its Edge AI go-to-market efforts.


NTT DATA’s Edge AI deployment approach allows clients to take advantage of a free 30-day discovery and diagnostic of their IT and OT environment. The software auto-discovers assets with its vast library of pre-built OT interfaces. After this initial stage, Edge AI software generates a comprehensive diagnostic report inventorying assets and data streams, including identifying security risks and vulnerabilities.


“A key challenge for enterprises is reliably capturing and aggregating operational data securely across a fragmented landscape of devices, platforms and data sources and turning it into actionable insights,” said Alejandro Cadenas, Associate Vice President, Telco Mobility & IoT Research, IDC Europe. “NTT DATA’s ultralight Edge AI addresses these issues and simplifies the deployment and adoption of a data-driven enterprise strategy, reducing risks and timelines and optimizing total cost of ownership and value for the enterprise."


Driving secure AI adoption at the edge with the first fully managed service


NTT DATA’s managed services for Edge AI offer a unified view and management of devices, sensors and assets. With expert support and advanced technologies, NTT DATA helps businesses simplify complex processes, drive cost savings, enhance performance and accelerate digital transformation.


As the industry’s first fully managed IT/OT convergence platform, Edge AI transforms physical assets into software assets for data-driven insights, regardless of the manufacturer. Operating at the edge, managed services integrate OT assets with IT applications, boosting operational efficiency. Edge AI also provides a view of the firmware version of all connected devices to promote vulnerability patching and overall device security.


“Computing and AI must happen where they create the most value for the enterprise; for many industrial enterprises this is where the data is generated. By ingesting IT and OT data and leveraging AI models to drive use-case specific results, the NTT DATA solution takes another step towards realizing the industry 4.0 vision,” said Pablo Tomasi, Principal Analyst, Private Network, Omdia. “Additionally, using task-specific small AI models will help drive AI democratization by making it is easier for the enterprise to introduce AI where and when is needed, without the need for an extensive overhaul of their whole infrastructure.”


Edge AI rounds out NTT DATA’s comprehensive Edge portfolio, which includes Enterprise IoT, Edge Compute, Private 5G and Device as a Service.


About NTT DATA


NTT DATA is a $30+ billion trusted global innovator of business and technology services. We serve 75% of the Fortune Global 100 and are committed to helping clients innovate, optimize and transform for long-term success. We invest over $3.6 billion each year in R&D to help organizations and society move confidently and sustainably into the digital future. As a Global Top Employer, we have diverse experts in more than 50 countries and a robust partner ecosystem of established and start-up companies. Our services include business and technology consulting, data and artificial intelligence, industry solutions, as well as the development, implementation and management of applications, infrastructure and connectivity. We are also one of the leading providers of digital and AI infrastructure in the world. NTT DATA is part of NTT Group and headquartered in Tokyo. Visit us at nttdata.com.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240718015818/en/



Permalink

https://www.aetoswire.com/en/news/54095776

Contacts

 

Lori Bosio, External Communications, NTT DATA

Lori.bosio@global.ntt


Wireside Communications for NTT DATA

NTT@wireside.com

Xsolla Acquires LFG to Enhance Gaming Connectivity and Commerce

 


LOS ANGELES - 

Strategic Acquisition Aimed at Empowering Creators and Enhancing User Engagement Across Platforms


(BUSINESS WIRE)--Xsolla, a global video game commerce company, announces its acquisition of LF.Group, a leader in digital solutions for gaming communities. This strategic collaboration is poised to transform how developers connect with their audiences and manage transactions across various platforms, integrating advanced technology to improve the creator and gamer experience.


Xsolla's president, David Stelzer, shared, “Investing in technology and providing innovative solutions that enhance the gaming experience for developers is central to our strategy. This acquisition will significantly enrich our capabilities by incorporating LF.Group's technological strengths in our commerce framework.”


LF.Group has been instrumental in player connectivity/gamer connectivity solutions, mainly through its advanced Discord bot technology, which is key to this acquisition. This technology facilitates enhanced interactions and transactions within gaming communities, aligning with Xsolla's strategy to support game developers and publishers monetize their content effectively.


Alexey Moiseenkov, CEO & Co-Founder of LF.Group, emphasized the shared goals of the acquisition. “We are excited to bring our technology and vision to Xsolla. Together, we aim to create a more connected and transaction-friendly gaming environment, expanding beyond traditional platforms to include major messaging services like WhatsApp.”


The collaboration will focus on Xsolla's commerce solution, Xsolla Mall. This solution facilitates the distribution of game content through influencer custom-branded shops and direct-to-consumer stores. It aims to expand its influencer acquisition network and increase the distribution of virtual items and game keys globally. As the integration progresses, both companies are committed to focusing on the end-user experience, ensuring that the innovations developed are impactful and user-friendly.


For more information about the acquisition, please visit: xsolla.pro/lfg.


About Xsolla


Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch, and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue, and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in London, Berlin, Seoul, Beijing, Kuala Lumpur, Raleigh, Tokyo, and cities around the world, Xsolla supports major gaming titles like Valve, Twitch, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.


For additional information and to learn more, please visit: xsolla.com.


About LF.GROUP


LF.Group develops a toolkit that includes a Web platform, an LFG bot in Discord, and a mobile app. All those serve one purpose: to create the easiest way to connect with other gamers of the same skill level and interests. No matter what games you play mostly, some people perfectly match your time slots and in-game goals. LFG tools support all these criteria and even more.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240718282494/en/



Permalink

https://www.aetoswire.com/en/news/20240718282494r1

Contacts

 

Derrick Stembridge

Global Director of Public Relations, Xsolla

d.stembridge@xsolla.com


 

BeiGene Announces Appointment of Aaron Rosenberg as Chief Financial Officer

 SAN MATEO, Calif. - Thursday, 18. July 2024 AETOSWire 


(BUSINESS WIRE)--BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global oncology company, today announced the appointment of Aaron Rosenberg as Chief Financial Officer, effective July 22. Mr. Rosenberg will succeed Julia Wang, who is departing to pursue external opportunities and will stay with the Company through August to support the transition.


“We are thrilled to welcome Aaron amid a transformational year for BeiGene as we became a top 15 global oncology innovator by revenue with sustained progress to profitability and one of the most prolific and innovative pipelines in our industry including a plan to have at least 10 new molecular entities this year. Aaron’s financial leadership and impressive track record at Merck & Co. will be invaluable as we continue to responsibly scale our business and look to reinforce our global leadership in hematology as well as build future franchises in other highly prevalent cancers, including lung, breast and gastrointestinal,” said John V. Oyler, Co-Founder, Chairman and CEO of BeiGene. “We extend our deep gratitude to Julia for her many significant contributions including scaling our financial capabilities to support our growth from 4,000 to over 10,000 employees across five continents, contributing to the launch of BRUKINSA®, which is one of the most successful global drug launches in oncology, raising billions of dollars in capital from the global equity markets and helping drive financial excellence to improve operational efficiency. We wish Julia well in her future endeavors.”


Mr. Rosenberg is a global finance executive with more than 20 years of experience at Merck & Co., Inc, known as Merck Sharp & Dohme outside of the United States and Canada. He was most recently Senior Vice President and Corporate Treasurer of Merck from 2021.


“I’m honored to join BeiGene at an inflection point in the Company’s growth with the opportunity to further strengthen this resilient global financial organization,” said Mr. Rosenberg. “I deeply believe in BeiGene’s mission to develop and deliver innovative cancer medicines to more patients around the world, and I’m excited to be a part of this growing company and its experienced leadership team.”


Prior to his role as Corporate Treasurer, Mr. Rosenberg served as Senior Vice President of Corporate Strategy and Planning at Merck from 2018 to 2021 with responsibilities including leading the enterprise-wide business transformation team and acting as Head of Financial Planning & Analysis. Mr. Rosenberg was Vice President and Finance Lead of Merck Animal Health from 2015 to 2018, leading a global team of 120 colleagues. He joined Merck in 2003 in ascending leadership roles in the global finance organization.


Mr. Rosenberg received a Bachelor of Science in Finance from the Warrington College of Business at the University of Florida and a Master of Business Administration from the Leonard N. Stern School of Business at New York University.


About BeiGene


BeiGene is a global oncology company that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. With a broad portfolio, we are expediting development of our diverse pipeline of novel therapeutics through our internal capabilities and collaborations. We are committed to radically improving access to medicines for far more patients who need them. Our growing global team of more than 10,000 colleagues spans five continents. To learn more about BeiGene, please visit www.beigene.com and follow us on LinkedIn, X (formerly known as Twitter), Facebook and Instagram.


Forward-Looking Statements


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding BeiGene’s planned number of new molecular entities this year; BeiGene’s sustained progress towards profitability; BeiGene’s ability to responsibly scale business and build future franchises in other highly prevalent cancers; and BeiGene’s plans, commitments, aspirations and goals under the caption “About BeiGene”. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeiGene’s ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials and marketing approval; BeiGene’s ability to achieve commercial success for its marketed medicines and drug candidates, if approved; BeiGene's ability to obtain and maintain protection of intellectual property for its medicines and technology; BeiGene’s reliance on third parties to conduct drug development, manufacturing, commercialization, and other services; BeiGene’s limited experience in obtaining regulatory approvals and commercializing pharmaceutical products; BeiGene’s ability to obtain additional funding for operations and to complete the development of its drug candidates and achieve and maintain profitability; and those risks more fully discussed in the section entitled “Risk Factors” in BeiGene’s most recent quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in BeiGene’s subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeiGene undertakes no duty to update such information unless required by law.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240718157915/en/



Permalink

https://www.aetoswire.com/en/news/1807202440413

Contacts

Investors

Liza Heapes

+1 857-302-5663

ir@beigene.com


Media

Kyle Blankenship

+1 667-351-5176

media@beigene.com

Odys Aviation and MWASALAT Announce Partnership to Develop Aerial Logistics Programs in the GCC in 2025 by Operating Odys’ Hybrid-Electric VTOL Aircraft, Laila

LONG BEACH, Calif. & MUSCAT, Oman - Thursday, 18. July 2024


(BUSINESS WIRE)--Odys Aviation, a sustainable aviation company building hybrid-electric vertical take-off and landing aircraft, and MWASALAT, the Omani National Transport Company, today announced that they will collaborate on the development of programs in Oman for 25 of Odys’ Laila uncrewed aircraft, with the intention of first launching pilot programs on unpopulated and defined routes with pre-production aircraft in 2025. Laila is a hybrid-electric VTOL aircraft designed in multiple configurations for cargo and capable of transporting payloads up to 60kg with a 400 km range. Missions operated via these aircraft provide a low-carbon air cargo alternative for routes across Oman, opening up opportunities that have previously been time-consuming or inaccessible because of infrastructure and geographical challenges.


Under the terms of the agreement, the two companies will work together to undertake joint research and development activities to define target routes and services using Odys Aviation’s pre-production aircraft, leveraging the existing relationship and formal engagement Odys has with Oman’s CAA, with a view to establishing new aerial logistics networks with Odys’ Laila aircraft upon receiving full regulatory approval. The partnership also focuses on enhancing the functionality and defining the applications of Odys Aviation’s Laila aircraft in the GCC.


Beyond identifying applications, the two organizations will collaborate to develop concepts of operations that will define aircraft maintenance operations and regulatory compliance for the aircraft in service. During pilot operations, MWASALAT will facilitate use of these aircraft for entities including Oman Post and Asyad Group for logistics operations. In the long-term, it is anticipated that Odys Aviation’s aircraft will support MWASALAT with further applications for various sectors including passenger transportation, oil and gas services, security, tourism, health services and civil defense.


“MWASALAT is excited to be partnering with Odys Aviation to pioneer the future of sustainable air mobility in Oman using their innovative hybrid vertical takeoff and landing technology,” said Bader AlNadabi, CEO of MWASALAT. “These new air vehicles will revolutionize mobility across multiple sectors in Oman and beyond, and we’re looking forward to seeing the impact across the businesses we support across the region when our pilot programs roll out in 2025.”


“The team at Odys Aviation has always been committed to advancing sustainable aviation and we’re thrilled to be working with MWASALAT’s progressive leadership to develop and implement meaningful pilot initiatives that will prove the use case for this technology,” said James Dorris, CEO and Co-Founder of Odys Aviation.


To further support activities in the GCC, Odys recently announced the appointment of Moosa Al Balushi to the position of Regional Director Business Development, based in Muscat. Moosa is a leading figure in the UAV industry in Oman and brings a wealth of proven experience in the regulatory space. With experience in executive roles at UVL Robotics and a track record of implementing governmental strategies in logistics, Moosa is well placed to direct initiatives to support the operation of UAVs in Oman and the GCC across both public and private sectors.


About Odys Aviation: Odys Aviation designs, develops and manufactures sustainable, technologically advanced VTOL aircraft that solve global challenges for commercial airlines and private operators. The company is pioneering the next generation of VTOL aircraft which use hybrid-electric propulsion systems to deliver the optimal balance between performance and sustainability. Odys Aviation was founded in 2019 and is headquartered in Long Beach, CA with a Design Office in Munich, Germany. For more information, please visit www.odysaviation.com


About MWASALAT: The Oman National Transport Company “MWASALAT” was established in 1972 with the aim of transporting school students in Muscat Governorate. In June 1975, it started operating public transport services. The Oman National Transport Company is a permanent member of the International Transport Union, an international organization specialized in the field of public transport, and the company is considered one of its oldest members in the Middle East. In November 2015, the company’s services began operating under the new identity “MWASALAT”.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240717311789/en/



Permalink

https://www.aetoswire.com/en/news/1807202440409

Contacts

Media Contact: Louise@odysaviation.com

Media Contact: yousuf.alhinai@mwasalat.om

Thursday, July 18, 2024

NORMA Group Working With Kinaxis to Orchestrate its Supply Chain

 OTTAWA, Ontario - Thursday, 18. July 2024


Leading manufacturer of joining components is making the critical connections across its data, people and processes to create a more efficient supply chain


 


(BUSINESS WIRE)--Kinaxis® Inc. (TSX: KXS), a global leader in end-to-end supply chain orchestration, today announced that NORMA Group, a leading provider of the world’s innovative clamps, connectors and fluid systems is working with Kinaxis to bring agility, transparency and speed to its supply chain.


Germany-based NORMA Group operates 25 manufacturing plants globally, developing secure clamps and connectors that are integral to the manufacturing of machines, vehicles and engines within the water management, agricultural, aviation, chemical, sanitary and automotive industries. With the cause for disruptions in manufacturing ranging from geopolitics to regulatory changes and everything in between, NORMA Group selected a solution that would account for any challenge and reflects best practices to help navigate industry-specific nuances.


“Kinaxis checked all the right boxes for us on a technical level, they also aligned with us on our sustainability values and passion for innovation,” said Wolfgang Geiger, executive vice president group purchasing & supply chain management at NORMA Group. “Every decision we make is to do better by our over 10,000 customers who are relying on us for critical joining solutions and we are thrilled to be able to provide a more efficient supply chain for our customers with Kinaxis.”


“We’re seeing more regulatory changes around the globe that are directly impacting manufacturers, making it difficult for supply chain leaders to stay on time and on budget – being able to adapt to these changes as they come and plan for whatever might be next, will be a gamechanger for NORMA Group,” said Claire Rychlewski, chief sales officer at Kinaxis. “We are excited to work with their team and help them bring their supply chain to the next level.”


Kinaxis’ AI-powered software allows companies to orchestrate their supply chain network end to end, from strategic planning to last-mile delivery. Kinaxis’ technology helps companies that supply the agricultural industry with 40% of the world's tractors, that keep more than 110 billion teeth clean each year and that ensures more than 35 million pets are fed nutritious meals each year.


To learn more about Kinaxis and its supply chain management solutions, please visit Kinaxis.com.


About Kinaxis


Kinaxis is a global leader in modern supply chain orchestration. We serve supply chains and the people who manage them in service of humanity. Our software is trusted by renowned global brands to provide the agility and predictability needed to navigate today’s volatility and disruption. We combine our patented concurrency technique with a human-centered approach to AI to empower businesses of all sizes to manage their end-to-end supply chain network, from multi-year strategic planning through down-to-the-second execution and last-mile delivery. For more news and information, please visit kinaxis.com or follow us on LinkedIn.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240718753990/en/



Permalink

https://www.aetoswire.com/en/news/1807202440414

Contacts

Media Relations

Jaime Cook | Kinaxis

jcook@kinaxis.com

289-552-4640


Investor Relations

Rick Wadsworth | Kinaxis

rwadsworth@kinaxis.com

613-907-7613


 

Xsolla Mobile SDK Streamlines In-App Payments, as Well as Payments for Out-of-Store Alternative Distribution Across iOS and Android Platforms

 LOS ANGELES - Thursday, 18. July 2024 



Empowering Developers with New Integration Options Under The Latest Digital Distribution Platforms for Mobile App Guidelines


 


(BUSINESS WIRE)--Xsolla, a global video game commerce company, announces the launch of its Mobile Software Development Kit (SDK). Whether you want to expand your payment options, go direct-to-consumer/out-of-store, or simply improve your game’s revenue potential, Xsolla Mobile SDK is the gateway to efficiently and effectively achieve these goals. This release introduces a pivotal solution for the DMA Age, empowering developers worldwide to seamlessly integrate their games on Android and iOS platforms with a global payment solution and web shop. Such integration significantly broadens the potential for mobile game monetization worldwide and unlocks new distribution channels. Game developers like Gaijin Network LTD (Crossout), Artstorm (Modern Warships), LINGCHAI (HONG KONG) LIMITED (Fantasy Tales: Sword and Magic), and ULTRAHORSE (SquadBlast) already use Xsolla SDK to monetize their games.


The launch of the Xsolla Mobile SDK aligns with recent legislative changes worldwide, including in the European Union, particularly the Digital Markets Act (DMA), and confirmed roll-out in Japan and the UK in 2025. This shift represents a critical development in the digital marketplace, providing developers with new monetization avenues to help drive more profits by going beyond traditional app store limitations.


Xsolla’s Mobile SDK Enables Out-of-Store Transactions


Xsolla's Mobile SDK streamlines the process for developers seeking distribution solutions outside the Google Play and App Store. The SDK enables Pay Station to be the primary option for accepting payments for out-of-store transactions. Android developers can integrate it into a self-distributed APK, distributed with channeling partners supporting alternative billing methods. It is also tailored for Web Distribution and App Marketplaces for iOS notarized Apps. Moreover, it is compatible with various game engines, from Unity to Native, making it a versatile and valuable tool for developers looking to enhance their in-game payment experience. Xsolla Mobile SDK complements a Web Shop to enhance out-of-store distribution strategies.


Xsolla’s Mobile SDK Enhances In-Store Transactions with Compliance under DMA


The SDK's features include seamless integration into games already supported by the Google Play Billing Library or Apple StoreKit integrations. Xsolla's Mobile SDK provides additional functionality or replaces billing options tailored to meet Google Play (UCB) and Apple's requirements under the Digital Markets Act (DMA). With Xsolla’s Mobile SDK, games can accept payments with 700+ local payment methods in 200+ territories.


As new regulations emerge, this SDK ensures a smooth expansion to new billing models while maintaining compliance with platform requirements powered by Xsolla Pay Station in other regions.


"With the introduction of our Mobile SDK, Xsolla reaffirms its commitment to supporting mobile game developers through the evolving digital and regulatory economy," said David Stelzer, President of Xsolla. "We're here to help developers navigate the regulatory and compliance changes easily, providing them with the tools to expand their payment options, reduce commission costs, and ultimately drive greater profitability for their mobile games."


The newly released Xsolla Mobile SDK for Android has been available for developers worldwide since today, with iOS support in early access available for those operating within the European Union.


Developers can access the SDK and detailed integration guides by visiting:


Xsolla's Developer Portal

Xsolla Mobile SDK


About Xsolla


Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch, and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue, and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in Montreal, London, Berlin, Beijing, Guangzhou, Seoul, Tokyo, Kuala Lumpur, Raleigh, and cities around the world, Xsolla supports major gaming titles like Valve, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.


For additional information and to learn more, please visit: xsolla.com


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240718044203/en/



Permalink

https://www.aetoswire.com/en/news/1807202440416

Contacts

Derrick Stembridge

Global Director of Public Relations, Xsolla

d.stembridge@xsolla.com


New Esri Press Book by Jack Dangermond Explores Creating a Better Future through Modern GIS

 


The Power of Where: A Geographic Approach to the World's Greatest Challenges Showcases the Power of Geospatial Technology



(BUSINESS WIRE)--Esri, the global leader in location intelligence, today announced the publication next month of The Power of Where: A Geographic Approach to the World's Greatest Challenges.


Written by Esri president Jack Dangermond with a dedicated Esri team and numerous contributors, this important new book explores the geographic approach—a way of solving problems using spatial analysis to perceive and understand patterns ranging from wildlife migration and rising seas to urban planning and food production.


According to Dangermond, sustainability begins with geography. "I believed this when we started Esri, and I'm even more convinced today," says Dangermond. "GIS [geographic information system technology] provides a platform for addressing problems, exploring alternatives, designing solutions, and sharing them in a visual way that inspires action."


The Power of Where shows through maps and stories how the growing GIS community is facing humanity's big challenges, including climate change, hunger, water scarcity, inequity, and biodiversity loss, as well as issues large and small in our everyday lives.


In concluding the book's preface, Dangermond continues, "My hope is that the stories, maps, and examples in these pages will inspire you to embrace and use this geospatial power as we work together to create a better tomorrow."


The Power of Where includes a foreword by National Book Award winner and author James Fallows as well as a companion website, powerofwhere.com, with more about the case studies, stories, and maps presented in the book. Available in paperback (ISBN: 9781589486065, $59.99) and as an ebook (ISBN: 9781589486072, $59.99), The Power of Where becomes available from most online retailers worldwide on August 6. Interested retailers can contact Esri Press book distributor Ingram Publisher Services.


About Esri


Esri, the global market leader in geographic information system (GIS) software, location intelligence, and mapping, helps customers unlock the full potential of data to improve operational and business results. Founded in 1969 in Redlands, California, USA, Esri software is deployed in hundreds of thousands of organizations globally, including Fortune 500 companies, government agencies, nonprofit institutions, and universities. Esri has regional offices, international distributors, and partners providing local support in over 100 countries on six continents. With its pioneering commitment to geospatial technology and analytics, Esri engineers the most innovative solutions that leverage a geographic approach to solving some of the world's most complex problems by placing them in the crucial context of location. Visit us at esri.com.


Copyright © 2024 Esri. All rights reserved. Esri, the Esri Globe and Frame logos, The Science of Where, esri.com, and @esri.com are trademarks, service marks, or registered marks of Esri in the United States, the European Community, or certain other jurisdictions. Other companies and products or services mentioned herein may be trademarks, service marks, or registered marks of their respective mark owners.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240717084088/en/



Permalink

https://www.aetoswire.com/en/news/1807202440408

Contacts

Jo Ann Pruchniewski

Public Relations, Esri

Mobile: 301-693-2643

Email: jpruchniewski@esri.com

Saxo Q3 outlook | 2024: Sandcastle economics Navigating Fragile Growth

 


As economic growth remains robust, driven by sectors like defence, AI, and obesity drug manufacturing, Saxo's strategy team warns of the fragility of this "sandcastle economy" in their quarterly outlook for Q3. Although their perspective for the short term is neutral, this outlook explores the underlying threats of unsustainable US fiscal spending, geopolitical risks, and demographic trends that could destabilise the current economic momentum in the longer term.


In his macro note, “Sandcastle economics,” Peter Garnry, Saxo's chief investment strategist, emphasises the precarious nature of our current economic growth. He states, "Economic growth will remain stable, but down the road, several factors can destroy our sandcastle economy."


Garnry explores the concept of a "two-lane economy," where thriving sectors contrast struggling ones. This disparity complicates monetary policy, as aiding weaker sectors could prolong inflation, increasing economic costs. Inflation remains persistently high, prompting cautiousness from the Fed and delaying rate cuts until a significant economic slowdown is observed.


"The Q3 outlook reveals a complex financial landscape with significant implications for the Middle East. The region, heavily influenced by global economic trends, must navigate the dual challenges of persistent inflation and geopolitical uncertainties, said Damian Hitchen, CEO of Saxo Bank MENA. Robust demand in key sectors such as energy and agriculture presents opportunities, but the underlying fragility of the global economy necessitates a cautious approach. The Middle East needs to stay attuned to these dynamics to mitigate risks and leverage growth prospects effectively.”


Saxo’s main calls for Q3 2024:

Commodities: Energy and grains in focus as metals pause

Robust demand and production challenges are expected to continue supporting commodities. While the metal sector, including gold and copper, takes a breather after reaching record highs, energy and grains are poised for growth. Additionally, Ole Hansen, Saxo’s head of commodity strategy, states that crude oil is “supported by OPEC's 'line in the sand' price and strong summer demand towards mobility and cooling."


Despite a second-quarter setback in energy due to a deflated geopolitical risk premium, metals remain strong. However, Ole Hansen notes that “industrial metals require a recovery in Chinese demand to justify higher prices at this stage." The energy sector anticipates robust demand in the third quarter from increased mobility and cooling needs amid seasonal heatwaves.


In summary, while metals consolidate, energy and agriculture sectors are expected to be the key drivers of growth in the coming quarter, supported by OPEC production restraints and weather-driven supply concerns in grains.


Equities: Are we blowing bubbles again?

As the third quarter of 2024 begins, the current market rally shows signs reminiscent of 2021, driven by speculative tech growth, crypto, meme stocks, and high US equity valuations, "which is higher than we saw during the dot-com bubble," notes Peter Garnry, chief investment strategist. Extreme index concentration is evident, with the 10 largest stocks comprising 35% of the S&P 500 Index.


Despite the exuberance in US markets, we remain overweight European equities. We "believe European equities will be repriced higher relative to other markets on the ECB rate cut in June and a growth rebound in the third quarter."


While the US market may appear stretched, European equities and sectors tied to electrification are interesting areas to watch.


Fixed income: What to do until inflation stabilises

As US and European sovereign bond yields are expected to remain range-bound during the third quarter, the uncertain inflation outlook persists despite less aggressive monetary policies. Saxo’s head of fixed income strategy, Althea Spinozzi, highlights this in her outlook: "US Treasury yields are expected to remain elevated until inflation trends decisively return towards the 2% target." Spinozzi notes that the divergence between US and European rates “will keep bond volatility elevated, prompting us to overweight high-quality credit and short-term duration."


Investment-grade corporate bonds are "likely to remain well-bid as direction on inflation remains uncertain." High-yield bonds, acting as a hedge against inflation, are also expected to stay supported despite tight spreads.


In this environment, it makes sense to maintain a cautious stance and limit duration exposure. Focus on quality and maturity up to five years while being cautious with longer durations. Long-term rates remain vulnerable to inflation trends and potential rebounds in the term premium.


FX: Risk-on currencies to surge against havens

A bearish USD trend could extend into Q3 if US economic weakness broadens, although valuation and safe-haven appeal limit the downside. High-beta currencies like AUD and NZD are well-positioned to outperform due to lagging central bank easing cycles and a stabilising Chinese economy.


However, Charu Chanana, head of FX strategy, mentions that "low-yielding currencies such as JPY and CHF are likely to underperform in a dollar-bear world due to negative carry."


Emerging market (EM) carry trades could remain popular, but tighter risk management is necessary as yield gaps narrow. While the USD may face downside risks, selective high-beta currencies and tactical EM carry trades present potential opportunities in the evolving FX landscape.


About Saxo Bank MENA


At Saxo, we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo Bank was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest. It was also the first Scandinavian bank to establish a presence in the GCC when it launched an office in Dubai, back in May 2009, to cover its regional operations for the MENA region.


Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions, including a Representative Office license by the Central Bank of the UAE.


As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo employs more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.


For more information, please visit http://www.home.saxo/me.



Permalink

https://www.aetoswire.com/en/news/saxo18072024eng

Contacts

Namita Thakkar - namita@matrixdubai.com

Akasa Air Commences Operations from Jeddah; and Strengthens Its Presence in the Kingdom of Saudi Arabia

 JEDDAH, Saudi Arabia - Thursday, 18. July 2024 AETOSWire Print 


Commences daily direct flights connecting Jeddah with Mumbai


To commence 2 weekly flights connecting Jeddah with Ahmedabad effective 20th July


Expansion to support Saudi Arabia’s Vision 2030


 


(BUSINESS WIRE)--Akasa Air, India's fastest-growing airline, commenced operations from Jeddah, connecting it with two prominent Indian cities – Mumbai and Ahmedabad with direct flights. The inaugural flight on 15th July 2024 departed Chhatrapati Shivaji Maharaj International Airport in Mumbai at 1935hrs IST and arrived at King Abdulaziz International Airport in Jeddah at 2225hrs AST. Akasa Air now operates daily direct flights connecting Jeddah with Mumbai and will further enhance this connectivity to operate 12 direct flights a week effective 21st July 2024. The launch of operations from Mumbai will be followed by the commencement of two weekly direct flights connecting Jeddah with Ahmedabad effective 20th July 2024.


The maiden flight received a warm welcome at King Abdulaziz International Airport where its arrival was graced by the presence of the leadership teams of Akasa Air and King Abdulaziz International Airport, to commemorate the occasion.


Akasa Air commenced operations from Riyadh in June 2024, and the launch of services to Jeddah further solidifies the airline’s presence in the Kingdom of Saudi Arabia, offering enhanced options for air travel between the two countries, at affordable fares. The expansion will also support Saudi Arabia’s aim to host 7.5 million Indian visitors by 2030.


Praveen Iyer, Co-Founder and Chief Commercial Officer, further shared, “We are delighted to expand our international network with the launch of operations to Jeddah. The response to our Mumbai-Riyadh route has been encouraging and reflects the need for enhanced connectivity between India and Saudi Arabia. Direct flights connecting Jeddah with Mumbai and Ahmedabad will foster trade and provide further options to pilgrims from India to Jeddah and drive inbound tourism to the country.


“Akasa Air has emerged as India’s most dependable airline in a short time. As we rapidly grow our global presence, we remain committed to taking the dependable and affordable Akasa experience to the world.”


Belson Coutinho, Co-Founder and Chief Marketing and Experience Officer, Akasa Air added, “The launch of operations to Jeddah is yet another stepping stone in our journey of taking the warm and efficient Akasa experience to the world. Passengers onboard can relish some truly distinguished culinary offerings with our onboard meal service Café Akasa, and enjoy the comfort of our spacious cabins and the convenience of in-seat charging with USB ports on most of our aircraft. Offerings like Skyscore by Akasa and QuietFlights along with the signature service delivered by our crew onboard and on ground will further enhance the inflight experience of our passengers. Moreover, travellers also have the option to choose from a variety of customizable and all-inclusive holiday packages at affordable prices with Akasa Holidays.”


“As we build a holistic air network, we strive to make every flight a memorable and seamless experience for our passengers. We look forward to hosting travellers on the route and are confident that they will appreciate the Akasa experience like millions of others,” he added.


Akasa Air forayed into international skies in March 2024, and has rapidly expanded its global footprint since then. The airline currently operates flights to Doha, Riyadh, Abu Dhabi and Jeddah and has also been granted traffic rights for Kuwait, and Medina (Kingdom of Saudi Arabia).


Akasa Air has introduced multiple quality products and differentiated services to ensure an inclusive, warm, and comfortable flying experience. Its brand-new fleet provides ample legroom and enhanced comfort and comes with USB ports in a majority of aircraft, allowing passengers to charge their gadgets and devices on the go. Café Akasa, the airline’s onboard meal service offers an assortment of healthy and delectable meals, including festive menus and industry-first options such as Kombucha, to offer customers an indulgent gourmet experience in the skies. Travelers can choose to plan their travel with Akasa Holidays which offers customisable and all-inclusive holiday packages at affordable prices. Skyscore by Akasa provides live scores of all major sporting events onboard, and the airline’s Quiet Flights experience offers a restful and undisturbed inflight journey on early morning and late-night flights. In addition, in an endeavour to make travel inclusive, Akasa Air has introduced its safety instruction card and onboard menu card in Braille for persons with visual impairment.


Akasa Air’s consistent on-time leadership, operational efficiencies and extremely positive customer feedback have made it a preferred carrier in India, serving over 10 million passengers since its launch in August 2022. Akasa Air currently connects with 22 domestic and four international cities, namely Mumbai, Ahmedabad, Bengaluru, Chennai, Kochi, Delhi, Guwahati, Agartala, Pune, Lucknow, Goa, Hyderabad, Varanasi, Bagdogra, Bhubaneswar, Kolkata, Port Blair, Ayodhya, Gwalior, Srinagar, Prayagraj, Gorakhpur, Doha (Qatar), Jeddah, Riyadh (Kingdom of Saudi Arabia) and Abu Dhabi (UAE).


Flight schedule:


Flt.


Number


From City

(Airport)


Departure


Time


To City


(Airport)


Arrival


Time


Operating


Days


Non-stop/


Through


Commenced 15th July 2024


QP 0561


Mumbai


1935hrs


Jeddah


2225hrs


Daily


Non-Stop


QP 0562


Jeddah


2355hrs


Mumbai


0725hrs


Daily


Non-Stop


Commences 20th July 2024


QP 0563


Ahmedabad


1740hrs


Jeddah


2030hrs


Wed, Sat


Non-Stop


QP 0564


Jeddah


2130hrs


Ahmedabad


0455hrs


Wed, Sat


Non-Stop


Commences 21st July 2024


QP 0559


Mumbai


1745hrs


Jeddah


2030hrs


Mon, Tue,


Thurs, Fri, Sun


Non-Stop


QP 0560


Jeddah


2130hrs


Mumbai


0500hrs


Mon, Tue,


Thurs, Fri, Sun


Non-Stop


About Akasa Air:


Akasa Air is India’s most dependable airline, offering warm and efficient customer service, reliable operations, and affordable fares – all in the Akasa Way. Akasa’s youthful personality, employee-centric philosophy, tech-led approach, and culture of service make this commitment a reality for all Indians.


The carrier launched its first commercial flight on 07 August 2022 to support the growing demand across India and commenced international operations on 28 March 2024, offering non-stop flights from Mumbai to Doha. This milestone makes it the first Indian airline to fly overseas within a record period of just 19 months. Internationally, Akasa Air operates flights to Doha, Riyadh, Abu Dhabi and Jeddah. Additionally, Akasa Air has also been granted traffic rights for Kuwait and Medina (Kingdom of Saudi Arabia). Since its inception, Akasa Air has served over 10 million passengers and connects 26 cities.


With a clear focus on sustained, long-term growth, Akasa Air has placed a firm order of 226 Boeing 737 MAX airplanes, powered by CFM fuel-efficient, LEAP-1B engines. It currently operates 24 737 MAX aircraft which delivers superior efficiency in reducing fuel use and carbon emissions. The aircraft also powers a quieter cabin with 40 per cent less noise fulfilling the airline's promise of being an environmentally progressive company with the youngest and greenest fleet in the Indian skies.


For more information visit: www.akasaair.com

or via X: @AkasaAir

LinkedIn: https://www.linkedin.com/company/akasaair/


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240717836056/en/



Permalink

https://www.aetoswire.com/en/news/1807202440410

Contacts

media@akasaair.com

BYD Thailand Factory Inauguration and Roll-off of Its 8 Millionth New Energy Vehicle

 (BUSINESS WIRE)--On July 4, BYD celebrated the inauguration of its Thailand plant and the production of its 8 millionth new energy vehicle in Rayong, Thailand, marking two milestones in the company's global expansion. The ceremony was attended by Ms. Pimphattra Wichaikul, Thailand's Minister of Industry; Mr. Han Zhiqiang, Chinese Ambassador to Thailand; Mr. Narit Therdsteerasukdi, Secretary General of Thailand Board of Investment; as well as Mr. Wang Chuanfu, Chairman and President of BYD, among other senior executives of BYD Group.


BYD completed its Thailand plant in just 16 months, with an annual capacity of 150,000 vehicles. The facility encompasses processes of stamping, painting, welding, final assembly, and producing car components. It is projected to generate 10,000 jobs. BYD marked a historic moment by unveiling the Dolphin model as the 8 millionth new energy vehicle.


Minister Pimphattra Wichaikul expressed high praise for BYD's outstanding contributions to the new energy vehicle sector: "BYD is a world-leading automobile manufacturer and a pioneer in China's new energy vehicle industry. BYD's investment in Thailand, along with its advanced production technology, will drive the development of the new energy vehicle industry in Thailand and across ASEAN"


Ambassador Han Zhiqiang highlighted the close ties and enduring friendship between China and Thailand. He noted that BYD, an outstanding representative of the global new energy vehicle industry, has completed its Thailand plant and celebrated the roll-off of its 8 millionth new energy vehicle. This milestone not only marks a significant achievement for BYD but also a new chapter in the mutually beneficial cooperation between China and Thailand in the field of new energy vehicles.


At the event, Mr. Wang Chuanfu expressed gratitude to both governments, Thai customers, and partners for their strong support. He emphasized BYD's success in the Thai market, becoming the pure electric vehicle sales champion for eighteen months within the past two years. Currently, one in every three electric vehicles sold in Thailand is a BYD. Going forward, BYD aims to launch more pure electric and plug-in hybrid models in Thailand.


As the global leader in new energy vehicles, BYD has significantly expanded its overseas presence in recent years. In 2023, it achieved a 337% year-on-year increase in exports, reaching 243,000 vehicles. In the first half of this year, BYD sold 1.607 million new energy vehicles globally, a 28% year-on-year increase, securing its position as the largest in the industry. Of these, over 203,000 were exported, showing a 173.8% year-on-year growth. As of now, BYD's new energy vehicles are present in 88 countries and regions worldwide, with passenger car production bases established in Thailand, Brazil, Hungary, and Uzbekistan.


Since achieving the roll-off of its 1 millionth new energy vehicle in May 2021, BYD has reached the impressive milestone of 8 millionth vehicles in just over three years. Looking forward, BYD will continue to expand its global market presence, leveraging its advanced technology and innovative products to meet the diverse needs of consumers worldwide. As more overseas factories come into operation, BYD's global production capacity will progressively strengthen, further solidifying its leading position in the global new energy vehicle market.


About BYD


BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.


About BYD Auto


Founded in 2003, BYD Auto is the automotive subsidiary of BYD, a multinational high-tech company devoted to leveraging technological innovations for a better life. Aiming to accelerate the green transition of the global transportation sector, BYD Auto focuses on developing pure electric and plug-in hybrid vehicles. The company has mastered the core technologies of the entire industrial chain of new energy vehicles, such as batteries, electric motors, and electronic controllers. It has witnessed in recent years significant technological advancements, including the Blade Battery, DM-i Super Hybrid Technology, e Platform 3.0, CTB Technology, e⁴ Platform, BYD DiSus Intelligent Body Control System, and DMO super hybrid system. The company is the world's first carmaker to stop the production of fossil-fueled vehicles on the EV shift and has remained top of new energy passenger vehicle sales in China for 11 years in a row.


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


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240704357274/en/



Permalink

https://aetoswire.com/en/news/1807202440419

Contacts

Asia-Pacific: Liya Huang, pr@byd.com tel: +86-755-8988-8888-69666

Europe: Penny Peng, PressEU@byd.com tel: +31-102070888

North America: Frank Girardot, frank.girardot@byd.com tel: +1 213 245 6503

Latin America: José Miranda, jose.miranda@byd.com tel: +56 9 96443906

Brazil: Pablo Toledo, pablo.toledo@byd.com tel: +19 3514 2554

Middle East and Africa: Nikki Li, meapr1@byd.com tel: +86-755-8988-8888-62319

Absa Bank Reaffirms LTIMindtree as a Strategic Technology Partner in its Transformation Journey

 MUMBAI, India - Thursday, 18. July 2024 AETOSWire


(BUSINESS WIRE)--LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, today announced a multi-million dollar contract extension with Absa Bank, a leading African financial services group. This reinforces LTIMindtree's position as Absa Bank’s trusted strategic technology partner. The extended partnership builds upon a successful 17-year collaboration, where LTIMindtree has been instrumental in driving Absa Bank's digital transformation journey, fostering growth and efficiency.

Absa Group Limited, a publicly traded company on the JSE, is one of Africa's largest diversified financial services groups. The company has footprints across 12 African countries, China, the United Kingdom, and the United States. LTIMindtree will act as a one-stop shop for Absa Bank's IT needs, providing comprehensive services to bolster its digital infrastructure. This includes deploying cutting-edge solutions in Digital Transformation, Applied AI, Cloud Acceleration, Data-Driven Decision Making, and Core Banking Modernization.

Johnson Idesoh, Group Chief Information and Technology Officer at Absa Group, said, “Adopting modern IT systems and capabilities has always been our priority to ensure exceptional and seamless customer experiences. With a relationship of 17 years, LTIMindtree has delivered tangible business value to our banks, over a protracted period. At the same time, LTIMindtree, through process optimization and the application of advanced technology like Automation and Generative AI, has helped us lower total cost of ownership by 46% over the last 5 years. This ties in with our technology transformation journey. Together, we deliver stable and robust services to our customers in the African continent. We are confident that extending this partnership will enable our business growth even further and assist us to continuously enhance value for our customers, making our banks even more competitive.”

Sudhir Chaturvedi, President & Executive Board Member, LTIMindtree, said, “We are proud to be a trusted strategic partner for Absa Bank, celebrating over 17 years of successful collaboration. Through this renewal, we will continue to deliver best-in-class core banking solutions, encompassing digital, branch, and payment technologies for Absa's customers. These solutions span multiple markets and focus on increased localization. We are confident that through our deep industry knowledge and advanced data and analytics capabilities, we will continue to accelerate Absa Bank's transformation journey. This will empower them to achieve their strategic goals of becoming a client-centric and technology-first bank.”

This strengthened partnership solidifies LTIMindtree's leadership in the Banking, Financial Services, and Insurance (BFS & I) sector. By leveraging its domain expertise, robust technology solutions, industry-specific offerings, and a powerful partner ecosystem, LTIMindtree empowers BFS & I clients to achieve true end-to-end transformation. This includes core modernisation, go-to-market innovation, cloud adoption, data-driven decision-making, and enhanced customer engagement through insightful analytics, personalised marketing, and tailored experiences.

About LTIMindtree

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 81,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit www.ltimindtree.com

About Absa Bank

Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.

Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.

Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. Absa also has representative offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.

For further information about Absa Group Limited, visit www.absa.africa.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240717330639/en/

Permalink
https://www.aetoswire.com/en/news/1807202440418

Contacts

LTIMindtree
Shambhavi Revandkar | Global Media Relations | shambhavi.revandkar@ltimindtree.com

Absa Group Limited
Daniel Munslow | Managing Executive: Group Communications | PRmedia@absa.africa

LTIMindtree Delivers 2.6% QoQ USD Revenue Growth in CC

 MUMBAI, India 

EBIT Margin improves to 15%

(BUSINESS WIRE)--LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the first quarter ended June 30, 2024, as approved by its Board of Directors.


“While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of USD 1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in USD terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at USD 1.4 billion. Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence.”


-Debashis Chatterjee, Chief Executive Officer and Managing Director


Key financial highlights:


Quarter ended June 30, 2024


In USD:

- Revenue at $1,096.2 million (+2.5% Q-o-Q / +3.5% Y-o-Y)


- Net profit at $136.1 million (+2.8% Q-o-Q / -2.9% Y-o-Y)


In INR:

- Revenue at Rs 91,426 million (+2.8% Q-o-Q / +5.1% Y-o-Y)


- Net profit at Rs 11,351 million (+3.1% Q-o-Q / -1.5% Y-o-Y)


Other highlights:


Clients:

- 748 active clients as of June 30, 2024


- $1 million+ clients increased by 2 on a Y-o-Y basis, total 390


- $20 million+ clients increased by 3 on a Y-o-Y basis, total 43


People:

- 81,934 professionals as of June 30, 2024


- Trailing 12 months attrition was 14.4%


Deal Wins


A major US airline chose LTIMindtree to provide Platform Engineering & Operations Services, leveraging its global delivery footprint in the US, UK, Poland and Australia.

A US-based insurance and retirement corporate has chosen LTIMindtree as their partner for development and support in the Life & New Business area. This includes accountability for managing 100+ apps in the new business portfolio.

A US-headquartered company that provides data center solutions to hyperscalers, cloud and enterprise customers has awarded LTIMindtree a multi-year deal to provide PoD-based managed services in the areas of application development, data engineering, infrastructure support, testing, and ITSM.

A US-headquartered digital marketing company has expanded their relationship with LTIMindtree through a strategic outsourcing deal to accelerate their digital and cost transformation journey in the areas of quality assurance, data analytics and BI, data science, field analytics, and project management.

A leading global designer and manufacturer of electric domestic appliances has chosen LTIMindtree as their anchor partner to deliver Quality Assurance Services.

A leading Japanese automotive company awarded LTIMindtree a multi-year service desk support contract.

A US-based non-profit organization has entrusted LTIMindtree with an Infrastructure & Cybersecurity Managed Services contract. This involves migration of Data Center to Cloud along with implementation and management of security and infra tools.

Partnerships


LTIM has renewed its Strategic Collaboration Agreement with AWS. This partnership will see both entities work closely to enhance industry alignment across sales, solutions, and delivery. We will collaborate on developing joint solutions targeting key areas such as Generative AI, SAP, data management & migration, and modernization processes.

LTIM won the AWS Champions Club UK & Ireland 2024 for the most innovative deal category. The award was bestowed at the AWS UKI Partner Summit. LTIM was nominated for 2 GenAI opportunities using technologies like Amazon Sagemaker and Amazon Bedrock.

LTIM has been recognized as the 2024 Google Cloud Partner of the Year for the Manufacturing Industry Segment, highlighting its success in implementing Google Cloud technologies with specialized domain knowledge and automation.

LTIM was awarded the Standard of Excellence award along with Star Insurance Group at Duck Creek’s annual event Formation 2024, for simplifying the process of complex Insurance and delivering business effectiveness. LTIMindtree continues to help carriers transform and adopt new, digital AI enabled solutions with the skill, experience & security needed to achieve success.

Recognitions


LTIMindtree recognized as a ‘Leader’ in Avasant: Avasant’s Multisourcing Service Integration 2023-2024.

LTIMindtree recognized as a ‘Leader’ and Star performer in Everest Group: Duck Creek Services PEAK Matrix Assessment 2024.

LTIMindtree recognized as a ‘Leader’ in Everest Group: Capital Markets IT Services PEAK Matrix Assessment 2024.

LTIMindtree recognized as a Major Contender and Star Performer in Everest Group: Sustainability Enablement Technology Services PEAK Matrix 2024.

LTIMindtree recognized as a Major Contender in Everest Group: Mainframe Services PEAK Matrix 2024.

LTIMindtree recognized as a Major Contender in Everest Group: Enterprise Immersive Experience Services PEAK Matrix® Assessment 2024.

LTIMindtree recognized as a Major Contender in Everest Group: Adobe Services PEAK Matrix Assessment 2024.

LTIMindtree recognized as a Major Contender in Everest Group: Everest Healthcare Industry Cloud Services 2024.

LTIMindtree recognized as a Major Contender in Everest Group: Guidewire Insurance PEAK Matrix Assessment 2024.

LTIMindtree recognized as a Disruptor in HFS Horizons: HCP Service Providers, 2024.

LTIMindtree recognized as an Enterprise Innovator in HFS Horizons: Industry Cloud Service Providers, 2024.

LTIMindtree recognized in 'The Forrester Wave: Continuous Automation and Testing Services, Q2 2024'.

About LTIMindtree


LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 81,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit https://www.ltimindtree.com/.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20240717786073/en/



Permalink

https://www.aetoswire.com/en/news/1707202440397

Contacts

Media Relations: shambhavi.revandkar@ltimindtree.com

Hisense Group President Presents Strategic Roadmap for Company’s Future Success

 

Hisense's strategic roadmap for the future

QINGDAO, China, July 16, 2024 (GLOBE NEWSWIRE) -- Hisense, a global leader in home appliances and consumer electronics, unveiled its ambitious growth plans at its Partner Conference in Berlin. Fisher Yu, Hisense Group President, delivered a keynote address titled "Beyond Champion, Beyond Glory" outlining strategic upgrades focused on brand elevation, scenario-driven products and services, industrial structure optimization, and a commitment to further global expansion.

Hisense Introduces Multi-Brand Strategy

Marking its third sponsorship of the UEFA European Championship, Hisense unveils its "Hisense, More Than a Brand" tagline, signaling a multi-brand strategy. Since its inaugural sponsorship in 2016, Hisense’s overseas revenue has surged from $3.5 billion to $12 billion.

“We are thrilled to see Hisense maintain strong momentum in the first half of 2024,” explained Mr. Yu. “We achieved double-digit revenue growth, with an 18% surge in overseas markets, underscoring the success of our long-term strategy built on user-centricity, technological innovation, and a global vision.”

Strategic Upgrades and Future Vision

“Hisense TV shipments ranked No. 2 globally in Q1 2024 for the second consecutive year. We are continuously narrowing the gap with the No. 1 brand and are excited about the future,” said Mr. Yu.

Hisense’s commitment to “User-centric Technology” and “Ultimate Quality” drives the development of new features and products. The company is focusing on creating smart home experiences, prioritizing cross-platform compatibility in connectivity, security, and AI to create smarter products that anticipate and exceed user needs.

Holistic System Solutions and Sustainability

Hisense is transitioning from Standalone End Devices to Holistic System Solutions, utilizing cloud platforms like ConnectLife and HI-Star AI for smart home devices. These solutions prioritize sustainability, aligning with Hisense's long-term environmental and social commitments. Hisense is also advancing in smart transportation, smart buildings, healthcare, energy management, and automotive electronics.

Global Expansion and Local Empowerment

Committed to global expansion, Hisense is upgrading six regional operation centers. Building on its robust network of 26 R&D centers, 34 industrial parks, and manufacturing bases, Hisense's "Think Global, Act Local" approach empowers local talent and strengthens regional manufacturing, R&D, and supply chains.

Contact: henru.vandermerwe@hisense.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/97af8869-fc84-406a-a6ae-ca445d514f19


Copyright © 2024 GlobeNewswire, Inc.