Economy Diversifies to Boost Growth in 2020

DUBAI, United Arab Emirates-Sunday 26 January 2020 [ AETOS Wire ]

A survey of nearly 440 senior accountancy experts on economic conditions in MESA showed a recovery in confidence in Q4.  A revival in growth is likely to come mainly from the non-oil sector as the economy diversifies

Detailed in the latest Global Economic Conditions Survey (GECS), jointly published by ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants) the findings also point to mixed results from government spending measures as some economies make greater efforts to boost the non-oil sectors of their economies, e.g. United Arab Emirates (UAE), Qatar and Saudi Arabia.

Commenting on the findings, Fazeela Gopalani, Head of Middle East ACCA, said: ‘A revival in growth is likely to come from the non-oil sector as the economy diversifies. Reforms in the entertainment and tourism sectors are expected to boost growth in Saudi Arabia this year. The Q4 GECS recorded a significant improvement in orders and confidence compared with Q3, suggesting a brighter outlook. Non-oil private sector growth is likely to support growth in 2020, especially with the World Expo set to take place in Dubai later in the year.’

The dominant influence on confidence in the Middle East region is fluctuations in oil prices. Both confidence and oil prices recovered in Q4 and there was also a lessening of geopolitical risk in the region. Oil prices are expected to be in the $60 to $70 per barrel range this year.  A positive development for those countries with a fixed exchange rate with the US dollar (Saudi Arabia, United Arab Emirates (UAE), Oman, Bahrain and Qatar) is the reduction in interest rates by the US Federal Reserve. The US cuts in the second half of last year totalled ¾ percentage point and were immediately followed by reductions of similar size in these countries

In Q4, most of the components of the regional index are slightly below their long-run average. This is consistent with growth in the region of around 1.5% to 2% in 2019.

Last year GDP growth in Saudi Arabia slowed to less than ½%, dragged lower by falling oil production and lower average oil prices. As the largest oil exporter Saudi Arabia is at the forefront of OPEC efforts to stabilise prices by controlling output. Saudi oil output is likely to be cut again this year as these efforts continue.

There is limited official data available so far on UAE economic activity in 2019. But survey data points to annual GDP growth of between 1.5% and 2% last year.  The GECS orders index averaged -20 over the four quarters of 2019, little changed compared with 2018 (-19), when UAE growth is officially recorded at 1.7%.   But the UAE’s oil production, which fell 7% last year, will decline again slightly in 2020 according to the OPEC+ agreement reached last December. Based on the most recent GECS orders index values, which were above recent averages, the outlook is for GDP growth this year of around 2%, boosted by non-oil activity.

Speaking of the global picture Michael Taylor, chief economist at ACCA said: ‘Many risks to the global economy in 2020 are the same as in 2019, including trade tensions between the US and China, which were a major cause of slowing global growth. Recent developments in this area have been positive, but risks of a re-escalation with renewed tariff increases remain.

Fazeela Gopalani concludes: ‘Lower interest rates in the region should stimulate private sector credit growth and help to boost the non-oil private sector economy. The real estate sector, increasingly important in many economies in the region, will benefit especially from lower borrowing costs. Encouragingly, the region’s GECS index that measures problems accessing finance is close to a three-year low in Q4.

GECS Q4 2020 can be found online at: https://www.accaglobal.com/gb/en/professional-insights/global-economics/GECS_Q4_2020.html

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 219,000 members and 527,000 students (including affiliates) in 179 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 110 offices and centres and 7,571 Approved Employers worldwide, and 328 approved learning providers who provide high standards of learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

ACCA has introduced major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.com

About IMA® (Institute of Management Accountants)

IMA®, named 2017 and 2018 Professional Body of the Year by The Accountant/International Accounting Bulletin, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 100,000 members in 140 countries and 300 professional and student chapters Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India. For more information about IMA, please visit www.imanet.org.

Contacts

Nadia Manuelli

E: nadia.manuelli@accaglobal.com
T: +44 (0)20 7059 5661
M: +44 (0)7808 940139
Twitter @ACCANews
www.accaglobal.com

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Moody's Acquires RDC, a Leader in Risk and Compliance Intelligence, Data and Software

NEW YORK-Saturday 25 January 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- Moody’s Corporation (NYSE:MCO) announced today that it has agreed to acquire Regulatory DataCorp (RDC), a leading provider of anti-money laundering (AML) and know-your-customer (KYC) data and due diligence services, for $700 million. The deal complements Moody’s 2017 acquisition of company data provider Bureau van Dijk (BvD), creating a global leader in compliance solutions, BvD’s fastest-growing business segment.

The deal deepens BvD’s information portfolio and analytical capabilities by adding RDC’s unique, comprehensive dataset. It will also extend RDC’s global presence to a broader group of financial institutions, corporations, insurance companies and government agencies served by Moody’s Analytics and BvD.

RDC’s proprietary Global Regulatory Information Database (GRID) helps companies assess counterparties through a lens of more than 60 risk types by examining over 120,000 global sources, including adverse media coverage, politically exposed persons, government sanctions and regulatory watchlists. RDC’s platform incorporates industry-leading artificial intelligence (AI) for compliance screening to help process customer requests at greater speeds and accuracy while reducing false positives.

“RDC’s comprehensive data and leading technology are at the forefront of the global effort to identify sources of counterparty risk and to prevent criminal infiltration of the financial system,” said Dan Russell, Executive Director of the Bureau van Dijk division of Moody's Analytics. “The addition of RDC’s proprietary data and technology to BvD’s comprehensive company information offerings provides an industry-leading platform that will help customers make better informed decisions as they manage AML and KYC risks and requirements.”

RDC is currently owned by Vista Equity Partners (Vista), a leading investment firm focused on enterprise software, data and technology-enabled businesses.

The transaction is expected to close in the first quarter of 2020, subject to the satisfaction of customary closing conditions, including the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction will be funded with a combination of cash on hand, commercial paper and debt financing. Moody’s expects the acquisition of RDC to generate approximately $55 million of annualized revenue in 2020, and to be accretive to earnings per share on an adjusted basis in 2022. Due to the estimated impact of amortization expense relating to acquired intangible assets, the transaction is expected to be accretive to earnings per share on a GAAP basis in 2024.

Including the impact of this transaction, Moody’s anticipates share repurchases for 2020 to total approximately $1.3 billion, subject to available cash, market conditions and other ongoing capital allocation decisions. Share repurchases during 2019 totaled approximately $1.0 billion. Moody’s received legal counsel from Paul Hastings LLP. UBS Investment Bank served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to RDC and Vista.

ABOUT MOODY’S CORPORATION

Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody’s Corporation (NYSE:MCO) is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The corporation, which reported revenue of $4.4 billion in 2018, employs approximately 10,900 people worldwide and maintains a presence in 44 countries. Further information is available at www.moodys.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for the Company’s business and operations that involve a number of risks and uncertainties. Such statements may include, among other words, “believe”, “expect”, “anticipate”, “intend”, “plan”, “will”, “predict”, “potential”, “continue”, “strategy”, “aspire”, “target”, “forecast”, “project”, “estimate”, “should”, “could”, “may” and similar expressions or words and variations thereof that convey the prospective nature of events or outcomes generally indicative of forward-looking statements. The forward-looking statements and other information in this release are made as of the date hereof (except where noted otherwise), and the Company undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Company is identifying examples of factors, risks and uncertainties that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to, credit market disruptions or economic slowdowns, which could affect the volume of debt and other securities issued in domestic and/or global capital markets; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, credit quality concerns, changes in interest rates and other volatility in the financial markets such as that due to uncertainty as companies transition away from LIBOR and the U.K.’s pending withdrawal from the EU; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy, including those related to tariffs and trade barriers; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations, including provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and regulations resulting from Dodd-Frank; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquires to which the Company may be subject from time to time; provisions in the Dodd-Frank legislation modifying the pleading standards, and EU regulations modifying the liability standards, applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; the possible loss of key employees; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the outcome of any review by controlling tax authorities of the Company’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if the Company fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which the Company operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions or other business combinations and the ability of the Company to successfully integrate such acquired businesses; currency and foreign exchange volatility; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of the Company’s annual report on Form 10-K for the year ended December 31, 2018, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200123005214/en/

Contacts

For Moody’s:

SHIVANI KAK
Investor Relations
+1 212-553-0298
Shivani.kak@moodys.com

OR

MICHAEL ADLER
Corporate Communications
+1 212-553-4667
Michael.adler@moodys.com

For RDC:

TERESE FERNANDEZ
Marketing/Communications
+1 484 366 8226
tfernandez@rdc.com

OR

Michael Melamed
Press Relations
+1-480-309-1585
mmelamed@laurelstrategies.com

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HCL Technologies Honors Global Goodwill Champions at the 2020 World Economic Forum in Davos

 Wave Maker Awards commend leaders in diversity, education, environment and innovation



DAVOS, Switzerland & NOIDA, India-Saturday 25 January 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- HCL Technologies (HCL), a leading global technology company, today presented its Wave Maker Awards 2020, commemorating global goodwill champions from around the world. The award ceremony, which was held at the HCL Pavilion in Davos, celebrated organizations and individuals passionately committed to such noble causes as diversity & inclusion, education & community upliftment, environment & sustainability, and technology for change. Special guest at the awards was Australian cricket legend Glenn McGrath, who is also founder of the McGrath Foundation, which provides support for Australian women diagnosed with breast cancer and their families.

The award recipients were; Lois Auta, Founder and Executive Director of Cedar Seed Foundation, which supports persons with disabilities to participate in all aspects of life; Chido Govera, Founder and Director of The Future of Hope Foundation (TFoHF), which supports marginal and vulnerable members of society through entrepreneurial and self-development initiatives; Mariana Luz, CEO of Maria Cecilia Souto Vidigal Foundation, which advocates for development and education opportunities for children in Brazil; Martin Burt, Founder and CEO of Fundación Paraguaya, a social enterprise that seeks to reduce poverty and unemployment throughout the world; Lauren Woodman, Chief Executive Officer of NetHope, which empowers committed organizations to change the world through the power of technology; Njideka U. Harry, President and CEO of Youth for Technology Foundation, an international education technology nonprofit; Asha de Vos, Founder and Executive Director of Oceanswell, which works to improve the health of the world's oceans through marine conservation research and advocacy; Kerstin Forsberg, Founder and Director of Planeta Océano, which works to conserve and restore coastal and marine environments; and Caroline Casey, Founder and Director of The Valuable 500, a global movement putting disability on the business leadership agenda.

Each award recipient was evaluated through the lens of HCL’s values and chosen based on the positive influence and unique transformation made in their communities over the past year. In addition, the recipients were commended for bringing a level of entrepreneurship to their endeavors.

“HCL is committed to developing a better world for the future and advancing the ways that organizations harness innovation to improve lives and experiences for global citizens,” said C. Vijayakumar, President & CEO, HCL Technologies. “This goal can best be achieved through lasting relationships and partnerships between like-minded organizations and visionary global leaders. Those recognized by our Wave Maker Awards are fantastic examples of the positive impact that goodwill champions are having on delivering the change that the world needs, and it is our great honor to recognize their achievements.”

The awards fit into HCL’s history of philanthropic endeavors and commitment to its core belief in touching lives in a positive way. In addition, the awards reflect the overarching theme of the HCL programs at WEF, which address how business leaders can support global, regional and national initiatives that generate positive environmental, social and economic impacts for all. HCL’s 2030 Ecosystem Platform is enabling discussions between leading innovators and future leaders, around the convergence of innovation, human ingenuity and critical thinking to create sustainable, inclusive business models.

About HCL Technologies

HCL Technologies (HCL) empowers global enterprises with technology for the next decade today. HCL’s Mode 1-2-3 strategy, through its deep-domain industry expertise, customer-centricity and entrepreneurial culture of ideapreneurship™ enables businesses to transform into next-gen enterprises.

HCL offers its services and products through three business units - IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS enables global enterprises to transform their businesses through offerings in areas of Applications, Infrastructure, Digital Process Operations and next generational digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. Under P&P, HCL provides modernized software products to global clients for their technology and industry-specific requirements. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals, categorized under Financial Services, Manufacturing, Technology & Services, Telecom & Media, Retail & CPG, Life Sciences & Healthcare and Public Services.

As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability and education initiatives. As of 12 months ended December 31, 2019, HCL has a consolidated revenue of US$ 9.7 billion and its 149,000 ideapreneurs operate out of 45 countries. For more information, visit www.hcltech.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200124005138/en/

Contacts

HCL Technologies

Anne Coyle, US
Anne.coyle@hcl.com

Elka Ghudial, Europe
Elka.ghudial@hcl.com

Devneeta Pahuja, India and APAC
Devneeta.p@hcl.com



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Amazentis Announces the Launch of Timeline™ Cellular Nutrition at the World Economic Forum in Davos

 Timeline, a revolutionary nutrition product to promote healthy aging, will be available in the United States in the first half of 2020



DAVOS, Switzerland-Saturday 25 January 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- Amazentis announces the debut of Timeline, a next generation nutrition product designed to promote healthy aging, as part of the Swiss Food & Nutrition Valley in the House of Switzerland at the World Economic Forum in Davos, Switzerland. Given the increase in the aging population globally -- according to a 2019 Deutsche Bank study, there are more people on Earth older than sixty five than younger than five for the first time -- it is imperative for consumers to take proactive measures to maintain a high quality of life, for as long as they live.

Timeline contains the proprietary nutrient Mitopure™, a highly pure form of Urolithin A. After a decade of rigorous research by leading scientists around the world, Mitopure has been shown to help counter age-associated cellular and muscular decline by revitalizing the mitochondria, the powerplants of our cells.

Timeline will be the first consumer product in the world to contain precisely calibrated doses of Mitopure that have been clinically shown to improve the mitochondrial and cellular health of the skeletal muscle. Timeline will be available to purchase online for consumers in the United States in the first half of 2020 at www.timelinenutrition.com.

“After a decade of research and trials to perfect Mitopure, we’re giving consumers access to a product that improves their muscle health by targeting aging mitochondria,” said Amazentis CEO and Co-Founder, Chris Rinsch.

“For years, consumers have been searching for a solution to maintain muscle health as they age; Timeline provides a new way to proactively take control of cellular health early on, which directly impacts the aging process,” added Amazentis Co-Founder and Chairman Patrick Aebischer.

The World Economic Forum engages societal leaders to shape global, regional and industry agendas. As part of the Forum, there will be a panel discussion on January 23rd at 15:00 CET at the House of Switzerland, focusing on the innovations in the food and nutrition industry. During the conversation, Rinsch will share the health benefits of Timeline and Mitopure with the audience. The panel will be moderated by CNN Money Switzerland Anchor Anna Maria Montero and include:

    Nestlé Global Chairman of the Board, Paul Bulcke
    École Polytechnique Fédérale de Lausanne (EPFL) President, Martin Vetterli
    3 Star Michelin Chef, Hôtel de Ville de Crissier, Franck Giovannini
    Amazentis CEO and Co-Founder, Chris Rinsch

Amazentis is an innovative life sciences company pioneering scientific breakthroughs in nutrition to manage health conditions linked to aging. The company’s lead ingredient, Mitopure™, has been favorably reviewed by the U.S. Food and Drug Administration (FDA) following a GRAS (generally recognized as safe) filing. Mitopure has been extensively evaluated pre-clinically and clinically to support its use in humans for nutritional supplementation.

About Timeline
Timeline is a novel nutrition brand developed by Amazentis on the belief that uncompromising research can unlock a new class of nutrition that is backed by cutting edge science. As scientists, we know that physical decline from aging can’t be stopped. However, through its groundbreaking science, Timeline is committed to developing products designed to help reduce the impact of time on health. For more information, please visit timelinenutrition.com.

About Mitopure
Mitopure is a highly pure form of Urolithin A, a bioactive dietary metabolite that is naturally produced when eating certain foods, such as the pomegranate, though it is difficult for most people to get enough of this specialized nutrient from food alone. Mitopure has been shown to improve mitochondrial function by stimulating mitophagy, a process by which aging and damaged mitochondria are cleared from the cell, leading to the growth of healthy mitochondria. For more information, please visit https://www.mitopure.com/.

About Amazentis
Amazentis is an innovative life science company that employs today’s leading research and clinical science to develop the next generation of products targeting mitochondrial health for advanced nutrition. For more information on Amazentis, please visit www.amazentis.com.

Related Links
https://www.timelinenutrition.com
https://www.mitopure.com
https://www.amazentis.com

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200123005820/en/

Contacts

Federico Luna
Chief Marketing Officer, Amazentis
press@amazentis.com


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Western Union and Bharti Airtel Unveil Real-time Global Payments into Millions of Bank Accounts in India and Mobile Wallets Across Africa

 • INDIA: Airtel Payments Bank Customers can soon direct Western Union money transfer into their bank accounts 24/7, via their app

• AFRICA: Airtel Money mobile wallet users in 14 countries will be able to route any money transfer received, into their wallets, and senders worldwide will be able to push funds directly to an Airtel Money mobile wallet in real-time



DENVER & NEW DELHI & NAIROBI, Kenya-Friday 24 January 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- Western Union, a global leader in cross-border, cross-currency money movement and payments, and Bharti Airtel Limited, a leading global telecommunications company with operations in 18 countries across Asia and Africa, today announced an unprecedented milestone in global money movement across the world’s significant emerging markets. The two industry leaders have come together to launch real-time payments soon into millions of Airtel Payments Bank accounts in India and Mobile Wallets across 14 countries in Africa.

This key milestone follows the conclusion of new flagship collaborations with two leading subsidiaries of India’s largest integrated telecom - Bharti Airtel, namely Airtel Payments Bank, India’s first payments bank with millions of customers and over 500K banking points across the country and Airtel Africa plc Africa (LSE: AAF; NSE: AIRTELAFRI) (“Airtel Africa” or “Group”), a leading provider of telecommunications and mobile money services with a presence in 14 countries in Africa.

Western Union’s collaboration with Airtel Payments Bank in India will offer another channel for real-time cross-border money movement into India, the world’s largest remittance-receiving country, according to the World Bank. Airtel Payments Bank customers can soon direct a Western Union money transfer into their bank accounts 24/7 via their app in real-time. Global senders can use Western Union’s digital services in 75 countries plus territories, or the walk-in Agent network across more than 200 countries and territories.

The collaboration with Airtel Africa will enable more than 15 million Airtel Money mobile wallet users in Nigeria, Uganda, Gabon, Tanzania, Zambia, DRC, Malawi, Madagascar, Kenya, Congo, Niger, Tchad, Rwanda and Seychelles to simply route any money transfer received from across the world into their wallets. It will also allow senders around the world to push funds directly to an Airtel Money mobile wallet in real-time and store value or pay for goods and services. Service launch is expected in the course of 2020.

“The future of money transfer is about customer choice – allowing them to move money whenever, however and wherever they want. Our platform cuts through the complexities of cross-border money movement and payments so millions of customers can access their funds in real-time and in a manner that suits their local infrastructure and preferences,” said Western Union President and CEO, Hikmet Ersek, speaking from the World Economic Forum Annual Meeting, Davos, Switzerland.

"Our platform offers multiple channel choice for our customers and the customers of our partners including Banks, FIs, Telecom and Fintech players. We applaud Airtel for their global vision of anticipating and leading change in the global digital landscape,” Ersek said.

At the World Economic Forum Annual Meeting, Davos, Switzerland, Hikmet Ersek will join Sunil Bharti Mittal, Chairman of Bharti Airtel, along with Singapore Prime Minister Lee Hsien Loong and South Africa's Minister of International Relations and Cooperation Grace Naledi Mandisa Pandor as part of a panel “Leading a New Multilateralism”, which focuses on how emerging markets – including India and Africa – are changing the nature of multilateralism.

BHARTI AIRTEL

“Collaborating with Western Union on these two flagship initiatives in both India and Africa reflects Bharti Airtel’s keen commitment to transform the quality of lives of millions of people across emerging and developing markets, providing connectivity and digital empowerment. We are delighted to contribute to the development of a sound and inclusive payments ecosystem in emerging markets to spur financial inclusion and economic growth,” said Sunil Bharti Mittal, Chairman, Bharti Airtel.

AIRTEL PAYMENTS BANK

“We are delighted to collaborate with Western Union to add inbound global remittances to our portfolio of digitally enabled financial services. Our technology platforms and deep distribution reach allows customers to access a range of financial services in a convenient fashion. We will continue to bring to market innovative solutions that simplify basic financial services and empower every Indian,” said Anubrata Biswas, MD & CEO, Airtel Payments Bank.

AIRTEL MONEY AFRICA

Raghunath Mandava, CEO of Airtel Africa, said, “We are very excited to partner with Western Union to offer Airtel Money customers better access to one of the world's largest money transfer organisations. International remittances into Africa are a lifeline to some of our customers. This partnership will give our customers the convenience and security of directly receiving and sending remittances from their Airtel mobile money wallets. They will now be automatically credited and debited via their Airtel mobile money wallets on their phone and can immediately access the funds to pay bills or merchants and transfer funds to family and friends or convert to cash from the widespread Airtel Money agents, kiosks and branches.”

This tie up with Western Union adds to other tie ups that Airtel Africa has already put in place to help customers get inflows from across the world.

The announcement marks further expansion of Western Union’s unique ability to partner with a growing base of national and international tech leaders by leveraging its core assets – including global settlement capabilities, network, compliance and technology systems – to enable international cross-border transfers with customer facing innovation.

Airtel Payments Bank in India and Airtel Africa adds to a host of other partners offering receiver-directed Western Union money transfers: eSewa in Nepal, Gcash in the Philippines, mVola in Madagascar and Tigo in El Salvador and Guatemala. Receiver-directed money transfer services are on the rise with flexible linkages offered by mobile apps and wallets. It offers receiving customers the choice of a preferred payout method based on convenience.

Western Union has more than 40 banking and payment partnerships in over 100 countries. This robust network of relationships helps accelerate money movement between institutions and provides reliable connections for deposits to billions of customer accounts and digital wallets.

INDUSTRY DATA

INDIA: Reserve Bank of India (RBI) recently shared their National Strategy for Financial Inclusion (NSFI) for the period 2019-2024. The report states that digital infrastructure in the country needs to be expanded and adoption and acceptance for digital payments and bringing people into the fold of formal financial system must be encouraged. Another objective of the strategy is for every village to have access to a formal financial service provider within a reasonable distance of 5 KM radius. The customers may be onboarded through an easy and hassle-free digital process and processes should be geared towards a less-paper ecosystem.

GSMA projects that in 2025, there will be 623 million unique mobile subscribers, 483 million mobile internet users and penetration of smartphones will reach 66%. Sub-Saharan Africa remains a hotbed for mobile money services. By the end of 2018, there were 395.7 million registered mobile money accounts in the region, representing nearly half of total global mobile money accounts. The region is now served by more than 130 live mobile money services, many of them led by mobile operators, and a network of more than 1.4 million active agents.

WU-G

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of September 30, 2019, our network included over 550,000 retail agent locations offering our branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in 75 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.

About Bharti Airtel

Bharti Airtel Limited is a leading global telecommunications company with operations in 18 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 3 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed home broadband, DTH, enterprise services including national & international long-distance services to carriers. In the rest of the geographies, it offers 2G, 3G, 4G wireless services and mobile commerce. Bharti Airtel had over 411 million customers across its operations at the end of June 2019. To know more please visit, www.airtel.com

About Airtel Africa

Airtel Africa (LSE: AAF; NSE: AIRTELAFRI) is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East, Central and West Africa. Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally. The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

About Airtel Payments Bank

Airtel Payments Bank, India’s first payments bank that launched in January 2017, now boasts of over 40 million+ customers and over 500K banking points across the country. In addition to having a presence in all 29 states of India, Airtel Payments Bank also has an app for Android and iOS users to make banking easier for its rural and urban customers. Facilitating transactions worth INR 500 billion annually, it is focused on contributing to the government’s vision of Digital India and Financial Inclusion by taking digital banking services to the doorstep of every Indian, even in the remotest of rural areas.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200122005356/en/

Contacts

Media contact:
Western Union Global Communications and Social Channels
Pia De Lima; Pia.DeLima@westernunion.com

Western Union Asia-Pacific
Karen Santos; Karen.Santos2@westernunion.com

Western Union Middle East and Africa
Mohamed El Khalouki; Mohamed.ElKhalouki@wu.com

Airtel Payments Bank
Tanya Sachdev; a_tanya.sachdev@airtelbank.com

Airtel Africa
Kevin Soady, Kekst CNC: +44 20 3755 1600
Michael Okwiri : Michael.Okwiri@africa.airtel.com

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President Bill Clinton to Keynote 2020 World Patient Safety, Science & Technology Summit

IRVINE, Calif.-Friday 24 January 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- President Bill Clinton, the 42nd President of the United States, will be the closing keynote speaker at the Patient Safety Movement Foundation’s 2020 World Patient Safety, Science & Technology Summit. The 8th annual Summit will be held in Huntington Beach, California, beginning with a Pre-Summit Symposium on Thursday, March 5th.

At the 2020 Summit, hospital leaders, medical and information technology innovators, patient advocates, policy makers and government officials collaborate and discuss best practices solutions to eliminate preventable patient deaths in hospitals around the world. The event is co-convened with the International Society for Quality in Health Care (ISQua), the American Society of Anesthesiologists and the European Society of Anaesthesiology.

The 2020 Summit is scheduled for March 5 – 7th, 2020, at the Waterfront Beach Resort in Huntington Beach, California. For more information about the 2020 World Patient Safety, Science & Technology Summit, visit http://patientsafetymovement.org/summit. To register to attend, go to the registration page.

About the Patient Safety Movement Foundation

Each year, more than 200,000 people die unnecessarily in U.S. hospitals. Worldwide, 4.8 million lives are similarly lost. The Patient Safety Movement Foundation (PSMF) is a global non-profit that offers free tools to help achieve ZERO preventable deaths from hospital errors. The Patient Safety Movement Foundation was established through the support of the Masimo Foundation for Ethics, Innovation, and Competition in Healthcare to reduce that number of preventable deaths to ZERO. Improving patient safety requires a collaborative effort from all stakeholders, including patients, healthcare providers, medical technology companies, government, employers, and private payers. PSMF’s World Patient Safety, Science & Technology Summit brings together the world’s best minds for thought-provoking discussions and new ideas to challenge the status quo. Our Actionable Patient Safety Solutions (APSS) provide evidence-based processes to help hospitals eliminate errors. Our Open Data Pledge encourages healthcare technology companies to share the data for which their products are purchased. Visit patientsafetymovement.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200123005684/en/

Contacts

David Kodama
Cook + Schmid
dkodama@cookandschmid.com
619-814-2370 x17


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The LYCRA Company to Exhibit Newest LYCRA® Brand Innovations at ISPO Munich

WILMINGTON, Del.-Friday 24 January 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- The LYCRA Company, a global leader in developing innovative solutions for the apparel industry, will showcase the most ground-breaking line up of innovations at ISPO Munich in years. Attendees can learn about new LYCRA® FitSense™ technology, LYCRA® MyFit™ fiber, LYCRA® EcoMade fiber and Planet Agenda, The LYCRA Company’s sustainability platform.

 “We are very excited to showcase our latest innovations for activewear, sportswear and athleisure apparel at ISPO,” said Julien Born, President, Apparel, The LYCRA Company. “We look forward to working with brands, and their supply-chains, to create offerings that bring tangible value to garments, consistent with consumers’ active lifestyles and their desire for lasting comfort, fit and shape.”

LYCRA® FitSense™ technology is a patented water-based dispersion that features the same molecule as LYCRA® fiber, but in liquid form. This revolutionary innovation is screen printed onto fabric containing LYCRA® fiber to provide lightweight, targeted support exactly where it is needed most. This solution offers unlimited design possibilities for brands and retailers and may also help streamline garment manufacturing by eliminating sewn-in panels and extra seams.

LYCRA® MyFit™ fiber is a patent-pending new polymer engineered to deliver a customized fit experience by offering greater shape tolerance for a range of body types within a size. This exciting innovation is the only global solution that directly addresses major consumer needs around fit, which can help brands reduce returns, increase consumer satisfaction, and build brand loyalty.

The LYCRA Company is also featuring its first branded elastane that is made with pre-consumer recycled materials at ISPO. LYCRA® EcoMade fiber offers the same performance as the original LYCRA® fiber but is made partly with fiber waste collected at the company’s manufacturing sites, which is blended with virgin polymer at specific concentrations. This sustainable solution reduces waste and puts it back into production.

ISPO attendees can also learn about Planet Agenda, The LYCRA Company’s commitment to building a more sustainable future. The platform has been created to provide insights, technologies, products, and processes that can help customers reduce waste, save energy, extend garment wear life and more. Planet Agenda is built around three interdependent pillars: product sustainability, manufacturing excellence, and corporate responsibility. Learn more at LYCRA.com/sustainability.

Visit ISPO stand C1.355 to learn more about The LYCRA Company’s latest innovations and Planet Agenda. ISPO is a leading multi-segment trade fair for sports that takes place January 26-29. Go to ISPO.com for show information.

About The LYCRA Company

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries, as well as specialty chemicals used in the spandex and polyurethane value chains. Headquartered in Wilmington, Delaware, The LYCRA Company is recognized worldwide for its innovative products, technical expertise, and unmatched marketing support. The LYCRA Company owns leading consumer and trade brands: LYCRA®, LYCRA HyFit®, LYCRA® T400®, L by LYCRA®, COOLMAX®, THERMOLITE®, ELASPAN®, SUPPLEX®, TACTEL®, and TERATHANE®. While The LYCRA Company’s name is new, its legacy stretches back to 1958 with the invention of the original spandex yarn, LYCRA® fiber. Today, The LYCRA Company is focused 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 www.thelycracompany.com.

LYCRA®, FitSense™, and MyFit™ are trademarks of The LYCRA Company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200123005030/en/

Contacts

Claire O’Neill
Claire.ONeill@LYCRA.com


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