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PR Newswire

NaaS Technology Inc. Announces US$30 Million Private Placement of Convertible Note

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BEIJING, June 30, 2023 /PRNewswire/ — NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS” or the “Company”), the first U.S. listed EV charging service company in China, today announced that it entered into a convertible note purchase agreement with LMR Partners Limited (the “Investor” or “LMR”), a global multi-strategy investment fund, pursuant to which the Investor will purchase from the Company a convertible note with a principal amount of US$30 million, convertible into American depositary shares (“ADSs”) representing the Company’s ordinary shares. Concurrently, the Company and the Investor entered into a derivative arrangement with respect to the ADSs.

The transaction is subject to customary closing conditions and the closing is expected to take place in the near future. The convertible note has a 363-day term and interest will be payable on a quarterly basis. Subject to certain conditions, the Investor may purchase from the Company an additional convertible note with a principal amount of US$25 million and with substantially similar terms.

“We are excited to welcome LMR as our new investor and are grateful for their endorsement of our efforts to propel the electrification of China’s transportation industry,” said Mr. Alex Wu, NaaS’ president and chief financial officer.

The issuance of the securities is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”) and is made in reliance on, and in compliance with, Regulation S under the Securities Act.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop EV charging solutions to charging stations comprising online EV charging, offline EV charging and innovative and other solutions, supporting every stage of the station lifecycle. As of March 31, 2023, NaaS had connected over 575,000 chargers covering 55,000 charging stations, representing 40% and 49% of China’s public charging market share respectively. On June 13, 2022, the American depositary shares of the Company started trading on Nasdaq under the stock code NAAS.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS’ goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China’s EV charging industry and EV charging service industry and NaaS’ future business development; demand for and market acceptance of NaaS’ products and services; NaaS’ ability to protect and enforce its intellectual property rights; NaaS’ ability to attract and retain qualified executives and personnel; the impact of the COVID-19 pandemic and the effects of government and other measures taken in relation thereto; U.S.-China trade war and its effect on NaaS’ operation, fluctuations of the RMB exchange rate, and NaaS’ ability to obtain adequate financing for its planned capital expenditure requirements; NaaS’ relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS’ filings with the U.S. Securities and Exchange Commission.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com 

Media inquiries:
E-mail: pr@enaas.com 

Source: NaaS Technology Inc.

PR Newswire

Global optical fibre and cable supplier YOFC presents extensive lineup of products and solutions at MWC Shanghai 2023

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Lighting up the Digital Future

SHANGHAI, June 30, 2023 /PRNewswire/ — Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) is participating in Mobile World Congress Shanghai 2023 (“MWC Shanghai 2023”) at Booth N2.B10, where they are showcasing their innovative products and solutions under the theme “Lighting up the Digital Future”. The exhibition covers a wide range of categories, including New Optical Fibre & New Materials, Computing Network Infrastructure, Marine Communication, Digital and Smart Manufacturing, Digital Power, Digital Transportation and F5G Digital Life. MWC Shanghai 2023 is recognized as the largest and most influential mobile communications event in Asia. YOFC’s presence at the event highlights their ability to create value for customers and contribute to the growth of the digital economy through technological innovation.

YOFC makes an impressive appearance at MWC Shanghai 2023
YOFC makes an impressive appearance at MWC Shanghai 2023

ChatGPT has rapidly gained global recognition since its launch earlier this year, highlighting its immense potential to revolutionize the economy and society. The advent of the AI chatbot and other cutting-edge digital technologies is set to accelerate digital transformation across various industries. Speaking at the “Digital Everything – Building Digital Nations” sub-forum during MWC Shanghai 2023, Nie Lei, vice president at YOFC, emphasized the growing digital demands and emerging businesses. He also highlighted the critical need for a robust digital infrastructure that offers higher bandwidth, lower latency and improved reliability to accommodate the data explosion. To leverage this unprecedented opportunity, YOFC has taken proactive steps to participate in digital development, evolving from a specialized optical fibre and cable manufacturer into a holistic solution provider.

YOFC has been committed to developing new innovative optical fibre and cable. By rolling out the BRIGHTS series of high-performance optical fibre and cable products and solutions, the company aims to create an intelligent, efficient, safe and stable optical network ecosystem for all-scenario applications, optimize and upgrade digital infrastructure, and support the growth of the digital economy. In the field of Marine Communication, YOFC creates a digital ecosystem for transoceanic transmission by exploring marine environments and overcoming geographical limitations. In addition, the company prioritizes the advancement of key technologies for digital manufacturing such as digital twins and industrial big data, fostering a new era of intelligent manufacturing. YOFC has also created an innovative smart grid system that propels the digital transformation of the power sector. In the transportation sector, the company incorporates digital technologies into rail systems, ensuring safe and efficient operation of digital cities. Furthermore, the company provides a minimalist, efficient and reliable pre-connected solution for fifth generation fixed network applications, empowering the development of intelligent infrastructure, with the ultimate goal of building a better digital future for all.


Since 2014, YOFC has been expanding its international operations in countries and regions targeted by the Belt and Road Initiative. With five production facilities in Brazil, Indonesia, Poland and South Africa alongside over 50 subsidiaries and branch offices outside of its home market of China, the company has built a global marketing and service network spanning over 90 countries and regions worldwide, facilitating the construction of global digital infrastructure.

As the digital economy remains a driving force for global development and progress, YOFC, based on its mission of “Smart Link  Better Life”, is dedicated to extending optical fibre connections worldwide. The company aims to bridge the digital divide by promoting the adoption of optical fibres globally while strengthening the all-optical foundation of the digital economy through the provision of top-notch products and solutions, ultimately contributing to the building of a community with a shared future for mankind.

https://en.yofc.com/ 

PR Newswire

LightInTheBox Announces Share Repurchase Program

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SINGAPORE, June 29, 2023  /PRNewswire/ — LightInTheBox Holding Co., Ltd. (NYSE: LITB) (“LightInTheBox” or the “Company“), an apparel e-commerce retailer that ships products to consumers worldwide, today announced that its board of directors (the “Board“) authorized on June 27, 2023 a share repurchase program under which the Company may repurchase up to US$10 million of its ordinary shares in the form of American Depositary Shares no later than December 31, 2023 (the “Share Repurchase Program“), subject to the relevant rules under the Securities Exchange Act of 1934, as amended (the “Exchange Act“), and the Company’s insider trading policy.

Mr. Jian He, the Chairman and CEO of LightInTheBox, commented, “The implementation of our share repurchase program reflects the confidence of the Board and management towards the Company’s strategy, operating fundamentals, and business prospects. This repurchase program reflects our commitment to enhance value for our shareholders.”

The Company’s share repurchases may be made from time to time on the open market at prevailing market prices, in open-market transactions, privately negotiated transactions or block trades, and/or through other legally permissible means, depending on market conditions and in accordance with the applicable rules and regulations. The timing and conditions of the share repurchases will be subject to various factors including the requirements under Rule 10b-18 and Rule 10b5-1 of the Exchange Act. The Board will review the Share Repurchase Program periodically and may authorize adjustments to its terms and size or suspend or discontinue the program. The Company expects to utilize its existing funds to fund repurchases made under the Share Repurchase Program.

About LightInTheBox Holding Co., Ltd.

LightInTheBox is an apparel e-commerce retailer that ships products to consumers worldwide. With a focus on serving its middle-aged and senior customers, LightInTheBox leverages its global supply chain and logistics networks, along with its in-house R&D and design capabilities to offer a wide selection of comfortable, aesthetically pleasing and visually interesting apparels that bring fresh joy to customers. LightInTheBox operates its business through www.lightinthebox.com, www.miniinthebox.com, www.ezbuy.sg and other websites as well as mobile applications, which are available in over 20 major languages and over 140 countries and regions. The Company is headquartered in Singapore, with additional offices in California, Shanghai and Beijing.

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

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets” and similar statements. Among other things, statements that are not historical facts, including statements about LightInTheBox’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as LightInTheBox’s strategic and operational plans, are or contain forward-looking statements.

LightInTheBox may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward- looking statement, including but not limited to the following: LightInTheBox’s goals and strategies; LightInTheBox’s future business development, results of operations and financial condition; the expected growth of the global online retail market; LightInTheBox’s ability to attract customers and further enhance customer experience and product offerings; LightInTheBox’s ability to strengthen its supply chain efficiency and optimize its logistics network; LightInTheBox’s expectations regarding demand for and market acceptance of its products; competition; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in LightInTheBox’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and LightInTheBox does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Investor Relations
LightInTheBox Holding Co., Ltd.
Email: ir@lightinthebox.com

Jenny Cai
Piacente Financial Communications
Email: lightinthebox@tpg-ir.com

Brandi Piacente
Piacente Financial Communications
Tel: +1-212-481-2050
Email: lightinthebox@tpg-ir.com

Source: LightInTheBox Holding Co., Ltd.

PR Newswire

ACAMS Launches Korea Chapter, Announces CAMS Korean Scholarship Winners

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The new chapter for AFC professionals comes as part of ACAMS’ ongoing commitment to support the fight against illicit finance throughout Korea

WASHINGTON, June 29, 2023 /PRNewswire/ — ACAMS, a leading global membership organization dedicated to ending illicit finance, is strengthening its support for anti-financial crime professionals in Korea with the creation of a new ACAMS chapter and a scholarship program for Korean anti-financial crime (AFC) professionals. The new chapter—the 64th in the ACAMS network—will serve as a platform for ongoing education, knowledge-sharing, and networking for AFC practitioners engaged in financial-crime prevention in Korea’s public and private sectors.

Attended by AFC professionals from Korea, the launch in Seoul featured opening remarks by Korean Member of Parliament Yun ChangHyun and a special keynote address by Joshua Johnson, Senior Sanctions Coordinator for the Office of Economic Sanctions Policy and Implementation at the U.S. Department of State.

As part of the launch, the chapter convened a panel of experts to discuss building public-private partnerships to fight illicit finance, featuring speakers Ryu YoungHo, Team Leader at the Financial Supervisory Service (FSS), Kendrick Yeung, Deputy Attaché for U.S. Homeland Security Investigations (HSI) at the U.S. Embassy in Seoul, Jean Chung Managing Director, Regional Head, CFCC Advisory, at Standard Chartered, and Hwang SeokJin, a professor at Dongkuk University.

At the event, ACAMS separately announced 6 winners of the CAMS Scholarship for Korean compliance practitioners in the AFC space. In addition to receiving a one-year membership to ACAMS, the scholarship winners will seek to become Certified Anti-Money Laundering Specialists (CAMS) with a full waiver of associated fees for study materials.

Widely viewed as the global gold standard certification for anti-money laundering (AML) professionals, the CAMS program trains applicants on the international standards for detecting, investigating, and reporting suspicious financial activity and illicit money flows.

“As a platform for cross-sector collaboration in the AFC space, our chapters reflect the core belief of ACAMS that we are more effective in preventing illicit finance when we work together,” said ACAMS COO Mariah Gause. “The new ACAMS Korea Chapter will help drive conversations on how to fight financial crime more effectively and foster a community of dedicated AFC professionals who will share best practices on safeguarding the financial sector and saving lives.”

“We’re also proud to award our CAMS Scholarship to 6 remarkable Korean professionals to support their compliance journeys,” she said. “As our first scholarship designed for a national market, this initiative reflects the commitment shared by ACAMS and the recipients to prevent criminals from exploiting Korea’s private sector. We look forward to seeing what the future holds for these talented scholarship recipients.”

Find out more about the ACAMS Korea Chapter, including how to join, here: https://www.acams.org/en/chapters/apac/korea-chapter

Learn more about the CAMS Scholarship program and the new winners here: https://www.acams.org/en/resources/diversity-equity-inclusion/scholarships

About ACAMS®

ACAMS is a leading international membership organization dedicated to providing opportunities for anti-financial crime (AFC) education, best practices, and peer-to-peer networking to AFC professionals globally. With over 100,000 members across 180 jurisdictions, ACAMS is committed to the mission of ending financial crime through the provision of anti-money laundering/counterterrorism-financing and sanctions knowledge-sharing, thought leadership, risk-mitigation services, ESG initiatives, and platforms for public-private dialogue. The association’s CAMS certification is the gold- standard qualification for AFC professionals, while its CGSS and CCAS certifications are for sanctions professionals and AFC practitioners working in the crypto space, respectively. ACAMS’ 60+ Chapters globally further amplify the association’s mission through training and networking initiatives. Visit acams.org for more information.

PR Newswire

CJ Logistics and Korea Ocean Business Corporation to Invest up to $457 Million in Creating Large-scale Logistics Centers in the US

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  • Large-scale logistics centers will be built in strategic logistics and distribution hubs, including Chicago and New Jersey.
  • CJ Logistics will provide the land for these centers, which collectively cover an area equal to 50 soccer fields, while KOBC will secure the necessary funding for the construction.
  • The logistics centers are expected to serve as strategic hubs, facilitating import and export transloading as part of global, end-to-end supply chain solutions, and as an export forward base for South Korean companies to North America.
  • The project is a first-of-its-kind public-private collaboration designed to expand the CJ Logistics North America supply chain.
  • CJ Logistics is expanding and optimizing its operations model to meet local demand and respond to the needs of consumer goods and industrial materials markets.

DES PLAINES, Ill., June 28, 2023 /PRNewswire/ — CJ Logistics, a leading innovative supply chain and technology company in South Korea, has announced a strategic partnership with the Korea Ocean Business Corporation (KOBC) to construct large-scale logistics centers in the United States through a public-private collaboration. With a total investment of approximately $457 million (KRW 600 billion), these logistics centers will prioritize handling the import and export cargo of global and South Korean companies, facilitating their overseas expansion and trade activation. Additionally, this initiative aims to strengthen the economic alliance between the U.S. and South Korea by fostering local investment and job creation.

(From front left) CJ Logistics America COO Ken Heller, CJ Logistics America CEO Kevin Coleman, CJ Logistics Global Business Unit CEO Byoung-ku Kang, CJ Logistics CEO Sin-ho Kang, Korea Ocean Business Corporation Chairman & CEO Yang-Soo Kim, Consulate General of the Republic of Korea in Chicago Deputy Consul General Hyung-In Gee, Consulate General of the Republic of Korea in Chicago Consul Insu Kim, KOTRA Chicago Director Hosung 'Boston' Sohn are taking a picture at the event.
(From front left) CJ Logistics America COO Ken Heller, CJ Logistics America CEO Kevin Coleman, CJ Logistics Global Business Unit CEO Byoung-ku Kang, CJ Logistics CEO Sin-ho Kang, Korea Ocean Business Corporation Chairman & CEO Yang-Soo Kim, Consulate General of the Republic of Korea in Chicago Deputy Consul General Hyung-In Gee, Consulate General of the Republic of Korea in Chicago Consul Insu Kim, KOTRA Chicago Director Hosung ‘Boston’ Sohn are taking a picture at the event.

The first-of-its-kind public-private partnership between CJ Logistics and KOBC, a South Korean government entity, will increase South Korean investment in the U.S. and create new jobs for Americans.

The venture, known as the “North American Project,” entails the construction of large-scale logistics centers across three sites owned by CJ Logistics America, located in key logistics and distribution hubs such as Chicago and New Jersey, totaling 3,875,000 square feet. These sites collectively span an area equivalent to 50 international standard soccer fields. While CJ Logistics plans to contribute the land, KOBC will secure funding for the construction of the logistics centers.

CJ Logistics will assume responsibility for the operation of these three logistics centers, with a primary focus on handling the import and export cargo of global and South Korean companies and e-commerce sellers, thereby supporting their market entry into the U.S. The investment commitment agreement is expected to be signed within the third quarter of this year, and construction is scheduled to commence in the first quarter of next year, with a phased completion targeted from the first half of 2026 to 2027.

In a ceremony held on June 19, Sin-ho Kang, CEO of CJ Logistics, and Yang-soo Kim, CEO of KOBC, signed an agreement to implement this project at CJ Logistics America’s office in Des Plaines, Illinois. Following the agreement, the two CEOs and executives of CJ Logistics and KOBC visited the planned site for the logistics center.

CJ Logistics and KOBC have also committed to active cooperation not only on this project but also on investments in logistics infrastructure in the U.S. and other countries to enhance the global logistics competitiveness of CJ Logistics and South Korea.

Strategically located in three major U.S. cities or logistics hubs, CJ Logistics’ sites offer significant advantages. Elwood, Illinois, adjacent to the terminals of BNSF and Union Pacific, the largest freight railroad companies in the US, provides efficient transportation and delivery nationwide within one to two days via road and rail networks. Des Plaines, Illinois, is located near Chicago, one of the three largest cities in the U.S. and major consumer markets, as well as O’Hare International Airport, the largest freight airport in the country. Secaucus, New Jersey, situated near New York Harbor, JFK Airport, and New York City, offers access to another major consumer market.

With the development of these strategic hubs, CJ Logistics is optimizing its global logistics model to meet customer needs for integrated, end-to-end supply chain solutions. It will generate synergy by connecting the newly constructed logistics centers with its existing network of 57 operational logistics centers across the US. This connection will act as a catalyst for innovative growth in the business conducted in the US.

Moreover, with the vision of leading the global logistics industry with world-class technology, CJ Logistics will continue to accelerate and introduce advanced technologies such as automation, big data and AI, leveraging its TES (Technology, Engineering, Systems & Solutions) applications which have been successfully developed in South Korea, and are underway in North America. The company plans to enhance efficiency through the implementation of Autonomous Mobile Robots (AMR), Autonomous Fork Lifts (AFL), and smart packaging systems.

The North America Project holds significant meaning as it represents a joint effort between a government entity and a private enterprise to support South Korean companies’ entry into the US, the world’s leading economic market, and raise their global competitiveness.

While South Korean companies have made recent investments in various sectors such as electric vehicles, batteries, and semiconductors in the U.S., this collaboration between the public and private sectors is notable as the first of its kind. The project is projected to generate an investment of approximately $457 million and create 500 permanent jobs, along with additional employment opportunities, contributing to the strengthening of the U.S.-Korea economic alliance.

Commenting on the project, Mr. Kang, CEO of CJ Logistics, said, “We are committed to supporting our North America customer base, South Korean companies and e-commerce sellers as they enter the U.S. market. By utilizing our cutting-edge logistics infrastructure and operational capabilities, we aim to increase customer value, serve as a strategic partner to our customers who can benefit from global and multimodal solutions, and expand the ‘K-Wave’ into the business sector.”

Mr. Kim, CEO of KOBC, added, “The construction of logistics hubs in the U.S. will enhance the competitiveness of South Korea’s global supply chain and create value-added supply chain services through integration with maritime logistics.” He further emphasized, “We will continue to explore opportunities to enhance global logistics competitiveness by leveraging the resources, capabilities, and expertise of both sides.”

In the first quarter of this year, South Korea’s exports to the U.S. recorded $28.6 billion, a 3.5% increase compared to the same period last year. The U.S. ranked as South Korea’s largest trade surplus country during this period, with a trade surplus of $7.2 billion. E-commerce exports to the U.S. also saw significant growth, reaching $323 million in the previous year, a 23.8% increase compared to the previous year, according to the Korea Trade Statistics Promotion Institute.

CJ Logistics

CJ Logistics provides integrated global supply chain services, maximizing customer value through continuous improvement and innovation. Currently, CJ Logistics operates technology-driven logistics businesses at 280 bases in 40 countries around the world. With a focus on social responsibility and sustainability through growth with customers and communities, CJ Logistics prioritizes the well-being of the end consumer. CJ Logistics offers an integrated, one-stop SCM service platform with air and sea international freight forwarding, warehousing and transportation contract logistics, asset-based trucking, parcel and express delivery, and supply chain consulting. As a lead logistics partner (LLP), third-party logistics provider (3PL) and supply chain consultant, CJ Logistics helps customers leverage supply chain management as a competitive advantage, reducing total system costs, transforming business processes, improving service and facilitating growth and change. CJ Logistics America, a division of CJ Logistics, is responsible for leading warehousing, transportation and freight forwarding operations across the North America region, specializing in solutions for regulated industries such as food and beverage, consumer packaged goods, healthcare and medical supplies, and tire and automotive. cjlogisticsamerica.com

CJ Logistics plans to build three large logistics centers in Illinois and New Jersey. A large distribution center in Elwood, Illinois. (Bird's eye view)
CJ Logistics plans to build three large logistics centers in Illinois and New Jersey. A large distribution center in Elwood, Illinois. (Bird’s eye view)

PR Newswire

PalmPay celebrates 25 million user milestone in Nigeria, network of 800,000 mobile money agents and merchants

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LAGOS, Nigeria, June 28, 2023 /PRNewswire/ — PalmPay, a pioneering Africa-focused fintech platform, celebrates a significant landmark in its journey, marking 25 million users on its app and an extensive network of 500,000 mobile money agents and 300,000 merchants in its payments ecosystem.

PalmPay executives at the Media Parley in Lagos
PalmPay executives at the Media Parley in Lagos

This rapid growth within just four years of its market entry in Nigeria is testament to the company’s robust strategy centered on offering secure, user-friendly and inclusive financial services.

“We are proud to be a driving force of financial inclusion and cashless payment adoption in Nigeria.”, stated Sofia Zab, Global CMO of PalmPay. “PalmPay’s growth validates our approach and illustrates the increasing demand for innovative fintech solutions that address the unique needs of Africa’s underserved population.”

PalmPay’s user-friendly application simplifies digital transactions, making them swift and convenient. This has driven a shift in consumer behaviour from cash to digital payments. Today, the company processes more than 5 billion USD per month.

The PalmPay app offers a comprehensive suite of financial services that empower its customers with tools to manage their finances in one place.

This week, the company is launching its savings service, which include a 20% annual interest savings plan available to all users. The fintech also provides banking services for businesses, equipping them with dedicated apps, web portal and POS.

PalmPay’s efforts in promoting financial inclusion have been notably impactful, with around 30% of its users stating that their first-ever financial account was created on the app.

Its expansive network of mobile money agents help users deposit and withdraw money and guide consumers on how to use the PalmPay app. Its agents also serve consumers who do not have access to smartphones by transacting on their behalf, thereby extending access to PalmPay’s services to millions of additional people.

The company’s success in Nigeria has been propelled by its proprietary payment infrastructure, which offers unmatched reliability in a market that has long grappled with unstable financial systems. The platform boasts a 99.5% 10-second transaction success rate, distinguishing PalmPay in a highly competitive fintech space.

“PalmPay is more than a digital wallet – we are building a comprehensive platform to offer consumers all the tools they need to thrive financially. As we move forward, our aim is to become Africa’s financial superapp. “, added Zab. “Our partners benefit from our robust payment infrastructure and data-driven approach, which enables us to connect their offerings directly to their target customers, fostering mutual growth within our digital ecosystem.”

The company’s next strategic step is to bridge the gap between consumers and businesses by digitising merchant payments. PalmPay is onboarding tens of thousands of offline retailers every month, many of whom are spurred to join the platform following requests from its customers who want to be able to pay with transfer.

“The consumer base has now become one of the major driving forces of wider cashless adoption in the Nigerian payments ecosystem”, said Chika Nwosu, PalmPay Nigeria Managing Director, “We see an enormous potential in digitising payments for the retail and informal economy, which reduces their cost of doing business and helps them build the digital track record to qualify for credit and other financial services.”

Looking ahead, PalmPay is extending its operations to more countries and plans to offer cross-border transactions in future. The company is already piloting services in Ghana and is preparing launch plans for several other African markets.

About PalmPay

PalmPay is a leading Africa-focused fintech platform committed to driving economic empowerment across the continent. Through its secure, user-friendly and inclusive suite of financial services, PalmPay brings top-tier products into the pockets of everyday Nigerians.

PalmPay offers money transfers, bill payments, credit services and savings on its app and via its network of 500,000 mobile money agents.

Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to 25 million users. Over 300,000 merchants are part of its cashless payment ecosystem.The company has raised $140m USD.

The PalmPay app is available on Google Play Store and iOS App Store in Nigeria and Ghana, with more markets going live in 2023.

PR Newswire

Edifier Honored at the VGP 2023 SUMMER Awards

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RICHMOND, BC, June 28, 2023 /PRNewswire/ — The innovative and world-leading audio brand Edifier continues its tradition of manufacturing high quality, innovative, audio products. As recognition, it announces that it has taken six awards at the prestigious Visual Grand Prix (VGP) Summer Awards 2023 in Japan. The Edifier QD35, MR4, WH950NB, W820NB Plus have been awarded the highest honour of a VGP 2023 SUMMER Gold Award whilst the G5000, G5BT CAT were recognized in the VGP 2023 SUMMER Award Winner category.

Edifier QD35, MR4, WH950NB, W820NB Plus, G5000, G5BT CAT, the brand's VGP 2023 SUMMER award-winning products.
Edifier QD35, MR4, WH950NB, W820NB Plus, G5000, G5BT CAT, the brand’s VGP 2023 SUMMER award-winning products.

The Japanese VGP Awards are well known as the “Oscar in the Audio Industry”. They are the largest, most authoritative audio-visual awards in Asia. It is held on an annual-basis by Ongen Publishing Co. Ltd., one of the most prominent publishing companies in Japan with an expertise in audio/visual related devices and state-of-art technologies. Launched in 1987, the awards bring together respected reviews from dozens of countries, all to offer an authoritative reference guide for ordinary consumers looking to make informed purchases. The VGPs are often recognized as the highest authority award in Asia’s audio-visual industry and mark a significant recognition for Edifier’s ground-breaking work in the industry.

“We are once again extremely honored to have won 6 awards in the VGP 2023 SUMMER Awards”, stated Stanley Wen, Edifier’s CTO. “Edifier strives to deliver outstanding sound experiences – our aim is to combine the highest audio quality with affordability. These awards are recognition that Edifier’s core values coupled with the expertise of its technical and manufacturing teams reaffirms the company’s determination to be amongst the leaders in the audio-visual industry.”

The Edifier QD35 was one of the Gold award winners. The QD35 is an all-in-one music system certified to both “Hi-Res Audio” and “Hi-Res Audio Wireless. It has support for LDAC and features stunning ‘Lumia Art’ effects making it a show-off speaker that is very popular with home gamers who want to add pulsating lighting effects to enhance their gaming experiences.

Another VGP Summer gold award winner was the MR4 Powered Studio Monitor. With the 1-inch silk dome tweeter and 4-inch diaphragm woofers, the MR4 delivers pure, accurate sound – perfect for those who want a pair of studio speakers for content creation or for those users who simply want to enjoy top quality audio.

The WH950NB wireless noise-cancelling over ear headphones feature “Hi-Res Audio” and “Hi-Res Audio Wireless” Certification plus LDAC Codec and advanced 4-Mic ENC for the best voice and audio clarity. The WH950NBs are equipped with intelligent active noise cancellation algorithms that remove surrounding noise. Users can choose between ambient sound or wind reduction in different scenarios to create the ideal listening environment.

The final award winner in the Gold award category was the W820NB Plus. The W820NB Plus is again certified with Hi-Res Audio and Hi-Res Audio Wireless and provides a high-frequency bandwidth of up to 40kHz. With up to 49 hours of non-stop playtime, users can enjoy music with enhanced details, a wider sound field and richer emotional depth for that rounded listening experience.

Recognized in the 2023 SUMMER award category were the Edifier G5000 gaming speakers and the G5BT CAT Hi-Res certified gaming headset.  With their acoustic configuration, the G5000 2.0 Hi-Res speakers can achieve 24bit/192kHz, providing realistic and impressive sound that delivers powerful bass and clear trebles for that immersive gaming experience. The G5BT CAT headset is equipped with PixArt Bluetooth 5.2 and a low-latency game chipset, providing the ultimate mobile gaming audio.

The VGP awards recognize excellence and honour products that make a difference to the industry through state-of-the-art technology and design. Edifier continues to develop and grow its product ranges. The company has registered international trademarks in more than 80 countries and regions, and has a global-based workforce with distribution partners and resellers worldwide.

About Edifier:

Edifier specializes in premium sound systems that showcase technological innovation and design elegance, delivering outstanding audio experiences through a wide range of headphones, speakers, and music systems, for personal entertainment and professional excellence. Established in May 1996 in Beijing, Edifier is the brainchild of a small group of enterprising music lovers. Over the past 25 years, Edifier has been guided by the principle “passion for sound,” which helped the brand emerge as a world-class designer and manufacturer of award-winning sound systems. Today, Edifier serves audio lovers worldwide through its distributors in over 70 countries, with operations in North America, South America, Europe, the Middle East, and Asia Pacific regions.

PR Newswire

Artmarket.com: according to our long-term data, art made in 1964 has generated more auction turnover than art made in any other year of the 20th century

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PARIS, June 27, 2023 /PRNewswire/ — May’s auction results in New York showed that after all the records set by the Paul G. Allen, Anne H. Bass, and Thomas Ammann collections, 2023 began with relative sobriety. In an interview with journalist Amy Shaw for the Art Newspaper at Art Basel, art dealer Dominique Lévy said he detects the presence of a “clear correction”. Artprice takes this opportunity to review the acceleration of the art market since the beginning of the 21st century, via a quick look at the works that the market values the most.

Auction turnover (2000-2022) by year of creation in painting
Photo – https://techent.tv/wp-content/uploads/2023/06/artmarket-com-according-to-our-long-term-data-art-made-in-1964-has-generated-more-auction-turnover-than-art-made-in-any-other-year-of-the-20th-century-2.jpg 

Auction turnover (2000-2022) by year of creation in painting
Auction turnover (2000-2022) by year of creation in painting

“The analysis of auctions results is a fascinating way to examine the evolution of Art History”, explains thierry Ehrmann, President of Artmarket.com and Founder of Artprice. “Our databases, have collected objective and comprehensive Fine Art auction data for more than 30 years from all over the world. They therefore provide an extraordinary tool for studying the appetites of collectors and revealing what our contemporaries value the most”.

The triumph of Pop Art

In 1964, Andy Warhol, Roy Lichtenstein, Robert Rauschenberg, and Ed Ruscha were at the peak of their careers and these four artists all have auction price records for works created that year, in the midst of the Cold War, just a few months after the assassination of President J.F. Kennedy. These records, to which must be added more than thirteen thousand other auction results for artworks made that year, make 1964 the year-of-creation that generated the greatest volume of auction turnover in the period 2000 to 2023 (twenty-two years), all creative periods combined: $2.48 billion.

Having fetched the second best art auction result of all time at $195 million on 9 May 2022 at Christie’s in New York, Andy Warhol’s Shot sage blue Marilyn (1964) is now a sort of figurehead for that year (1964). Although from a market perspective the previous two years were just as important for Warhol, 1964 is also remembered in the art world for another reason: in 1964 Robert Rauschenberg won the Grand Prize at the Venice Biennale. Indeed, promoted by Leo Castelli (and perhaps even supported by the CIA), in 1964 Pop Art imposed itself in the art world thereby consolidating a significant shift of art (and the art market) to the West… a transfer of power from Paris to New York on the international scene. The way this transfer came about has been the subject of intense discussion.

Top 15 auction prices for artworks produced in 1964 
Photo – https://techent.tv/wp-content/uploads/2023/06/artmarket-com-according-to-our-long-term-data-art-made-in-1964-has-generated-more-auction-turnover-than-art-made-in-any-other-year-of-the-20th-century.jpg

Top 15 auction prices for artworks produced in 1964
Top 15 auction prices for artworks produced in 1964

Abstraction, Pop Art and Expressionism

In the mid-1960s, several major artists of the first half of the 20th century were still creating important works. Pablo Picasso, Alberto Giacometti, and René Magritte were still active. In Asia, Li Keran and Fu Baoshi were perpetuating the art of traditional Chinese painting by giving it very personal touches of modernity, while in Europe Zao Wou-Ki and some of his compatriots were exploring Lyrical Abstraction. In England, a new generation was making its mark: David Hockney was 27 in 1964, Frank Auerbach was 33 and Lucien Freud was 42. They were just at the beginning of their careers, but that year Francis Bacon, aged 55, painted some of his best portraits.

In the United States, Mark Rothko, Barnett Newman, Willem De Kooning, and Clyfford Still were still exploring Abstract Expressionism and Jackson Pollock had passed away a few year back, while a new artistic revolution was emerging: Pop Art. It was this movement that truly imposed America on the international art scene and the international art market. The works themselves were often brilliant and eye-catching but they also often contained covert or less-covert criticism of the American dream. In France, Pierre Soulages has already painted his best canvases, but a new Expressionist scene was beginning to emerge in Germany, with Gerhard Richter and Sigmar Polke, Georg Baselitz, and Anselm Kiefer, among others. Their work unfolded over many years and therefore did not produce the same concentration of market value as the American Pop Art movement.

The success of this movement was notably due to a relatively small number of series of works on which collectors focused heavily, and these series were created by the great names of American Pop Art and were generally worked and reworked for a few years… around 1964.

Sources

Art Basel may be busy, but cautious sales reflect a complex market picture, Amy Shaw, The Art Newspaper, le 15 June 2023.
https://www.theartnewspaper.com/2023/06/15/art-basel-may-be-busy-but-cautious-sales-reflect-a-complex-market-picture

1964: Pop Art arrives in Europe, a betrayal as seen from France, Thomas Snégaroff, France Info, 2 October 2015.
https://www.francetvinfo.fr/replay-radio/histoires-d-info/1964-le-pop-art-debarque-en-europe-une-trahison-vue-de-france_1788541.html

Market analysis of works created by the Warhol-Basquiat duo exhibited at the Louis Vuitton Foundation, Artprice, 25 April 2023
https://www.artprice.com/artmarketinsight/works-co-signed-by-jean-michel-basquiat-and-andy-warhol-are-currently-showing-at-the-fondation-louis-vuitton-in-paris

Images:

[https://imgpublic.artprice.com/img/wp/sites/11/2023/06/image1-1964-artmarket-com-auction-turnover-by-year-of-creation-in-painting.png]
[https://imgpublic.artprice.com/img/wp/sites/11/2023/06/image2-1964-artmarket-com-top-15-auction-prices-artw Roy Lichtenstein orks-produced-in-1964.png]

Copyright 1987-2023 thierry Ehrmann www.artprice.com – www.artmarket.com

About Artmarket:

Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.

Discover Artmarket and its Artprice department on video: www.artprice.com/video

Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987.

See certified biography in Who’s who ©: Biographie-thierry-Ehrmann_WhosWhoInFrance.pdf

Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 817,000 artists.

Artprice by Artmarket, the world leader in information on the art market, has set itself the ambition through its Global Standardized Marketplace to be the world’s leading Fine Art NFT platform.

Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis from 7200 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 7.2 million (‘members log in’+social media) users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France’s Commercial Code).

Artmarket, with its Artprice department, has twice been awarded the State label “Innovative Company” by the Public Investment Bank (BPI), which has supported the company in its project to consolidate its position as a global player in the art market.

Artprice by Artmarket’s Global Art Market Report, “The Art Market in 2022“, published in March 2023: https://www.artprice.com/artprice-reports/the-art-market-in-2022

Artprice releases its 2022 Ultra-Contemporary Art Market Report: https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2022

The Artprice 2022 half-year report: the art market returns to strong growth in the West: https://www.artprice.com/artprice-reports/global-art-market-in-h1-2022-by-artprice-com

Index of press releases posted by Artmarket with its Artprice department: https://serveur.serveur.com/artmarket/press-release/en/

Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:

www.facebook.com/artpricedotcom/ (over 6.3 million followers)
twitter.com/artmarketdotcom
twitter.com/artpricedotcom

Discover the alchemy and universe of Artmarket and its artprice department https://www.artprice.com/video headquartered at the famous Organe Contemporary Art Museum “The Abode of Chaos” (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013

Contact Artmarket.com and its Artprice department – Contact: Thierry Ehrmann, ir@artmarket.com

PR Newswire

Visa champions women’s success with new campaign for FIFA Women’s World Cup Australia & New Zealand 2023™

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SINGAPORE, June 27, 2023 /PRNewswire/ — To support women’s empowerment in the region, Visa is launching a “Behind Every Number, There’s A Story” campaign timed around the upcoming FIFA Women’s World Cup Australia & New Zealand 2023™ to inspire women to leverage sports to overcome life’s challenges.

This campaign revolves around stories of Team Visa athletes celebrating their experiences on and off the pitch in the journey to the FIFA Women’s World Cup. Every milestone, from playing in a grassroots community to defending national colours on the field, is accompanied by meaningful numbers that bear a story. This campaign aims to highlight the power of human potential in overcoming adversity, and inspire other women to achieve their personal goals and aspirations.

According to Visa commissioned research[1], 40 per cent of aspiring women entrepreneurs struggle with a lack of confidence when it comes to starting their own businesses. Obstacles range from juggling multiple responsibilities and experiencing cultural biases that significantly impact their self-esteem. However, 74 per cent of women entrepreneurs recognise the positive impact of engaging in physical activities on running their own business, such as helping them to boost confidence and developing skills to become a good business owner. 43 per cent of respondents reported that participating in sports enhances their competitiveness.

“At Visa, we are a data-driven company that analyses numbers for meaningful insights. Beyond the 260 billion transactions[2], we seek to celebrate the individual stories of the people we serve. From game statistics to jersey numbers – we celebrate how these figures reflect accomplishments of each Team Visa athlete, both on and off the field,” shared Danielle Jin, Head of Marketing, Visa Asia Pacific. “By showcasing examples of women who have transformed their accomplishments into successful business ventures, we hope to inspire other women across the region to pursue their dreams and turn their passions into thriving enterprises.” 

Empowering women through sports

As a purpose-driven company, Visa strives to remove barriers and connect more people to the global economy. Our longstanding focus on supporting women’s economic advancement is one example of how we bring our purpose to life. As the first FIFA Women’s Football Partner, Visa strives to foster greater equality by addressing the challenges women face in various areas, including sports and business, creating playing fields that are truly level for all women and girls.

During the FIFA Women’s World Cup Australia & New Zealand 2023™, Visa will award 64 grants to women small business owners, with one grantee being selected after each match and from the same market as the Player of the Match. Whether the Player of the Match is a player from first-time entrant Panama, or a veteran from the defending champion U.S. team, a woman small business owner in the Player of the Match athlete’s home country will receive a grant to help towards her own goals. The funding ranges in value from $5,000 for the 48 first round matches up to $50,000 for the final. The winning small businesses will be announced live at the athlete trophy presentation.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com. 

[1] Market research “Playing to Win: Sports as a Catalyst of Women’s Empowerment and Development” was commissioned by Visa and conducted by Kantar research agency in the following markets: Australia, New Zealand, Mainland China, the Philippines, Vietnam.

[2] For the 12 months ended March 31, 2023; includes payments and cash transactions
PR Newswire

Make A Splash (Doo Doo Doo Doo Doo Doo) With Baby Shark: Sing & Swim Party Launching on Consoles and PC Later This Year

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From the most viewed YouTube video in history ‘Baby Shark’, comes its first standalone PC and console rhythmic adventure video game for the whole family to enjoy

Click HERE for Images and HERE for Trailer

SEOUL, South Korea, June 27, 2023 /PRNewswire/ — The Pinkfong Company, the global entertainment company behind the cultural phenomenon Baby Shark, partners with Outright Games, the leading global publisher of family-friendly interactive entertainment, to launch Baby Shark’s first standalone PC and console game, ‘Baby Shark: Sing & Swim Party’. With the most viewed video on YouTube and RIAA Diamond certification (11x Platinum), this record-setting sensation is being brought to life with an all-new rhythmic adventure game. Baby Shark: Sing & Swim Party launches 15th September 2023 for PlayStation 4®, PlayStation 5®, Nintendo Switch™, Xbox One, Xbox X|S, and Steam.

The Pinkfong Company partners with Outright Games to launch Baby Shark’s first standalone console and PC game, ‘Baby Shark: Sing & Swim Party’.
The Pinkfong Company partners with Outright Games to launch Baby Shark’s first standalone console and PC game, ‘Baby Shark: Sing & Swim Party’.

Baby Shark: Sing & Swim Party is a cooperative rhythmic adventure where players will be fully immersed in the vibrant Baby Shark universe with one goal: to sing and have fun with friends and family. Players will swim across oceans as either Baby Shark, Mommy Shark, Daddy Shark, Grandma Shark, or Grandpa Shark to unlock the story of family and friendship as they complete each level. Players can swim solo or team up with up to 3 family members and friends in 4-player local co-op mode. Fans will get to enjoy 30 songs including catchy classics such as ‘Baby Shark’, ‘Disco Sharks’, and ‘Shark Dance Party’ on their oceanic adventure.

The story unfolds in the unique style of following the Shark Family as they take a vacation across the ocean to the Fin-Tastic Festival, the biggest music contest in the whole ocean. Baby Shark: Sing & Swim Party allows players to explore 7 recognizable locations from the fan-favorite Baby Shark videos such as the stunning Tropical Bay, the vast Ocean City, and the dark Kingdom of the Deep, to get to the festival. The game features Rhythm or Runner Mode where players have to stay on the beat and complete levels to collect cards and stickers. For extra fun, the five playable characters from the Shark Family are customizable with unlockable costumes and skins to collect in-game.

The game has been created with all family members in mind, and designed to be accessible and educational for even the youngest Baby Shark fans. As they travel across the ocean, young gamers, between 3-6 years old, will also be helped to develop their psychomotor skills through rhythmic gameplay and a gradual difficulty curve. To help young players who are learning to read, the game developers have incorporated a full game voice-over for all dialogue, location names, and instructions. The game features festivals and holidays from around the globe such as Día de los Santos as well as music from many genres like orchestral music, reggaeton, and rock. Short levels and easy repetition mechanics position Baby Shark: Sing & Swim Party as the perfect introductory game for young gamers to learn how to play.

Pinkfong’s Baby Shark has been captivating fans around the world since it first broke the internet in 2015. After taking the world by storm, Baby Shark has expanded its universe with an animated TV series, podcasts, live shows, merchandise, and even a full-length feature film in development for the 2023 holiday season. With the upcoming Baby Shark: Sing & Swim Party, fans can look forward to another extraordinary chapter in Baby Shark’s legacy of fostering imagination, creativity, and love for music in the hearts of families everywhere.

Bin Jeong, CEO of Pinkfong USA, said, “We are thrilled to announce our collaboration with Outright Games to bring Baby Shark’s fun and exciting songs and dance moves to the world of console and PC gaming. We can’t wait for fans of all ages to create unforgettable memories with their friends and families as they enjoy the game together.”

Beth Goss, CEO of Outright Games, says: “We are delighted to be working with Pinkfong on their first ‘Baby Shark’ console game and our first project together as licensing partners. Games provide a dynamic entertainment experience and help shape meaningful audio, visual and haptic interactions. Baby Shark: Sing & Swim Party will create a brand new way for fans to interact with the IP.”

Baby Shark: Sing & Swim Party will launch internationally on 15th September 2023 on PlayStation 4®, PlayStation 5®, Nintendo Switch™, Xbox One, Xbox X|S, and Steam. The game will be available in 26 languages.

About The Pinkfong Company

The Pinkfong Company is a global entertainment company that delivers content and entertaining experiences around the world. Driven by award-winning brands and IPs, the company has created and distributed a range of content across genres and formats including original animated series, world live tours, interactive games, and more. Believing in the power of entertaining and engaging content, The Pinkfong Company is committed to connecting people around the world and bringing joy and inspiration to worldwide audiences of all ages. For more information, please visit the website or follow the company on LinkedIn.

About Outright Games: 

Outright Games is a global video games publisher with a focus on bringing quality family entertainment to a worldwide audience. Founded in 2016, Outright Games has established its place in the market delivering engaging interactive games of beloved entertainment licenses globally. Outright Games brings stories and characters to life with titles including favourites such as Peppa Pig: World Adventures with Hasbro, DC’s Justice League: Cosmic Chaos with Warner, Star Trek Prodigy: Supernova and Paw Patrol: Grand Prix with Nickelodeon, and DreamWorks Dragons: Legends of The Nine Realms with NBC Universal. With an Outright Games title, there will be fun for all the family to enjoy.

For more information please visit: www.outrightgames.com 

Find out more:
Website: Outright Games
Twitter: @Outright_Games
Facebook: Outright Games Ltd
Instagram: Outright_games 

About Reco Technology

Recotechnology is a company founded by professionals from the entertainment and media sector with a long experience in the field of video games. Since its incorporation in 2012 it has developed multiple games for the different platforms of Sony, Microsoft, Nintendo, PC/Steam, Android, IOS… being official developer and publisher of all of them. From our origin we seek to develop new and high quality games and IPs for all types of audiences.

www.recotech.es

Contact
Communications Team at The Pinkfong Company
communication@pinkfong.com