Tag Archives: FIN

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

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

Juniper Research: Losses from Online Payment Fraud to Exceed $362 Billion Globally Over Next 5 Years, as eCommerce Growth in Emerging Markets Accelerates Fraud

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HAMPSHIRE, England, June 26, 2023 /PRNewswire/ — A new study from Juniper Research, the foremost experts in payment markets, forecasts that merchant losses from online payment fraud will exceed $362 billion globally between 2023 to 2028, with losses of $91 billion alone in 2028.

Online Payment Fraud Competitor Leaderboard by Juniper Research
Online Payment Fraud Competitor Leaderboard by Juniper Research

A rise in eCommerce transactions in emerging markets is driving this growth. Merchants there are facing new threats, such as an increased use of AI for attacks.

Online payment fraud is where cybercriminals conduct false or illegal transactions online, using a number of different fraud strategies, such as phishing or account takeover.

Further explanation is available in the new report, Online Payment Fraud: Market Forecasts, Emerging Threats & Segment Analysis 2023-2028. A free sample is available for download.

Top Fraud Detection and Prevention Vendors Ranked

As part of the study, Juniper Research released its latest Competitor Leaderboard for 2023. Underpinned by a robust scoring methodology, the new Competitor Leaderboard ranked the top 21 fraud detection and prevention vendors, using criteria such as the relative size of their customer base, completeness of their solutions and their future business prospects.

The top 5 vendors for 2023:

  1. LexisNexis Risk Solutions
  2. Experian
  3. ACI Worldwide
  4. Visa
  5. FICO

The research found that the leading players scored well based on the breadth of their anti-fraud orchestration capabilities, as well as their use of AI for analysing trends in fraudster behaviour. In order to stay ahead of the competition, vendors must utilise data collected throughout the eCommerce process to further develop their fraud detection and prevention solutions through training and advancing AI models.

Research author Cara Malone remarked: “Fraud detection and prevention providers must educate their clients in the importance of data sharing, in order for the highest accuracy within their solutions. This is increasingly important with the growing use of AI, as it utilises a variety of data to examine patterns within fraud, which is extremely advantageous in a space where fraudsters usually attack at scale, rather than attacking a specific customer.”

View the research: https://www.juniperresearch.com/researchstore/fintech-payments/online-payment-fraud-research-report

Download the free sample: https://www.juniperresearch.com/whitepapers/combatting-online-payment-fraud

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports, and industry commentary.

Contact Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com

PR Newswire

CGTN: China pledges practical support for developing countries at global financing summit

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BEIJING, June 25, 2023 /PRNewswire/ — China would continue to take practical steps to support its fellow developing countries, Chinese Premier Li Qiang said on Friday at the closing ceremony of the Summit for a New Global Financing Pact in Paris.

The summit, proposed by French President Emmanuel Macron at the G20 Summit in Bali last November, aimed to explore the current status and prospects of climate action and international financial system reform.

The closing ceremony attracted over 60 heads of state, government and international organizations, including Brazilian President Luiz Inacio Lula da Silva, South African President Cyril Ramaphosa and Pakistani Prime Minister Shehbaz Sharif.

Climate change action

Leaders attending the summit called for joint efforts to combat climate change, protect biodiversity, address the debt problems of developing countries and promote sustainable development around the world.

Wealthy nations have finalized an overdue $100 billion climate finance pledge to developing countries and created a fund for biodiversity and the protection of forests, Macron said on Friday.

China is actively promoting a green and low-carbon energy transition while participating in a responsible manner in promoting the global energy transition and addressing climate change, Li said on Thursday when delivering remarks on energy transition.

China is willing to work with other countries and adhere to the principles of mutual benefit and win-win cooperation, with technological innovation as the core driver, to promote the establishment of global clean energy partnerships to build a clean and beautiful world together, he added.

Financial system reform

In his closing speech, Macron said there was a consensus to reform global financial bodies like the World Bank and International Monetary Fund and make them “more efficient, fairer and better suited to the world of today.”

UN Secretary-General Antonio Guterres warned that the current global financial system exacerbates inequalities, denying the poorest countries the credit and debt support they need and deserve.

“Nearly 80 years later, the global financial architecture is outdated, dysfunctional, and unjust. It is no longer capable of meeting the needs of the 21st century world: a multipolar world characterized by deeply integrated economies and financial markets, but also marked by geopolitical tensions and growing systemic risks.”

Li also called on the financial bodies to complete a new round of reform on quotas and voting rights, and increase the voice of emerging markets and developing countries.

China, together with the international community, pushes for trade and investment liberalization and facilitation, and opposes protectionism, decoupling and disrupting supply chains in any form, Li added.

The Chinese premier chose Europe as his first overseas trip since taking office and told Macron that China and Europe have their own strengths and need to further strengthen cooperation.

China and Europe should cope with the uncertainty of the international situation with the stability of China–Europe relations, and jointly promote the sustainable development of mankind, he said at the summit.

https://news.cgtn.com/news/2023-06-23/China-pledges-support-for-developing-countries-at-financing-summit-1kSnrVnRy6s/index.html

PR Newswire

Baijiayun Announces Lock-Up Commitment by Certain Shareholders

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BEIJING, June 22, 2023 /PRNewswire/ — Baijiayun Group Ltd (“Baijiayun” or the “Company”) (Nasdaq: RTC), a one-stop video-centric technology solution provider, today announced that Mr. Gangjiang Li, Chairman of the Board and CEO, who is the beneficial owner of approximately 32.73% of the issued and outstanding shares of the Company, and Mr. Yi Ma, President and Director, who is the beneficial owner of approximately 10.08% of the issued and outstanding shares of the Company, have committed not to selling or transferring any ordinary shares or similar securities (the “Restricted Securities”) for a 12-month lock-up period, as a demonstration of confidence in the long-term value of the Company.

Mr. Gangjiang Li and Mr. Yi Ma undertake to promptly enter into written lock-up agreements with the Company to carry out such commitment. The agreements will be subject to certain customary exceptions, including that shares may be transferred directly to certain parties or may be repurchased by the Company.

About Baijiayun Group Ltd

Baijiayun is a one-stop video-centric technology solution provider with core expertise in SaaS/PaaS solutions. Baijiayun is committed to delivering reliable, high-quality video experiences across devices and localities and has grown rapidly since its inception in 2017. Premised on its industry-leading video-centric technologies, Baijiayun offers a wealth of video-centric technology solutions, including Video SaaS/PaaS, Video Cloud and Software, and Video AI and System Solutions. Baijiayun caters to the evolving communications and collaboration needs of enterprises of all sizes and industries.

Safe Harbor Statement

This press release contains certain “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the parties’ perspectives and expectations, are forward-looking statements. The words “will,” “expect,” “believe,” “estimate,” “intend,” and “plan” and similar expressions indicate forward-looking statements.

Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties, and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. The forward-looking information provided herein represents the Company’s estimates as of the date of this press release, and subsequent events and developments may cause the Company’s estimates to change.

The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

A further list and description of risks and uncertainties can be found in the documents the Company has filed or furnished or may file or furnish with the U.S. Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor / Media Contact:
Crocker Coulson
CEO, AUM Media, Inc.
(646) 652 7185
crocker.coulson@aummedia.org

Company Contact:
Yong Fang
CFO, Baijiayun Group Ltd
(267) 939 5080
fangyong@baijiayun.com

PR Newswire

TDK Ventures expands into Europe; will use new $150-million Fund EX1 to invest in clean-tech startups

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  • TDK Ventures selected London for its first European office
  • New $150-million (USD) multi limited-partner Fund EX1 (EX = energy transformation) will focus on both European and North American-based electrification and decarbonization startups
  • TDK Ventures’ mission and values to invest in climate tech startups align with Europe’s ambitious goals to reduce greenhouse gas emissions by 50% and reach net-zero emissions by 2050

SAN JOSE, Calif., June 19, 2023 /PRNewswire/ — TDK Corporation (TSE: 6762) announced today that subsidiary TDK Ventures Inc., its corporate venture capital arm, is expanding into the European market with plans to invest in startups in the region. The company selected London as the site of its first outpost for its ambitious quest to nurture energy transition, electrification, and decarbonization throughout Europe. At the same time, TDK Ventures will initiate its $150-million (USD) multi-LP Fund EX1. The fund will focus on both European and North American-based energy-transformation startups in Seed and Series A stages.

After thorough research, TDK Ventures chose London due to its deep venture-capital density as well as startups and investment funds that focus on the environment. The company also was impressed with the city’s overall venture innovation ecosystem that comprises entrepreneurially minded scientific talent, a world-class university system, top-tier climate investors (both early and growth), centralized location, and access to strong public markets. 

“TDK Ventures has earned a reputation for successfully investing in and supporting highly innovative startups featuring incredible disruptive technologies in the realm of electrification and decarbonization,” stated Lord Dominic Johnson, UK Minister of State in the Department for Business and Trade, who is a veteran of over 25 years in the financial-services industry. “I wish them much success in their efforts in combatting the many climate issues that face us. I am thoroughly delighted London was chosen as the site for their first European office and I look forward to their participation in the European market and enthusiastically welcome them to the city of London.”

“Globally, London ranks third in climate-tech funding, and third in the number of climate and energy-tech investors,” explained Nicolas Sauvage, President, TDK Ventures. “The latter ranking rises to No. 2 in the world when all of the UK is included. It also has corporate-friendly governance as well as familiar taxation, board structures, and a legal environment for venture-backed startups to find appropriate exits. This, coupled with the presence of many large-scale, late-stage, and growth-equity funds led us to decide on London as our first outpost in Europe.”

Sauvage continued that “TDK Ventures is very thankful for and appreciative of the strong support we have received from the Venture Capital Unit of the UK Government Department for Business and Trade over recent years.” 

The recent breakthroughs in materials science and advanced manufacturing in the European Union have created a watershed era for electrification and decarbonization projects. TDK Ventures has a history of helping entrepreneurial organizations in this space access the resources they need to scale production and commercialize their products as key components of global carbon neutrality.

“I am delighted that TDK Ventures has chosen London as the site of its first European office,” said Natalie Black, His Majesty’s Trade Commissioner for Asia Pacific. “Including UK companies as potential recipients in its new $150-million Fund EX1 is a testament to the strength of the UK’s tech sector, which raised $31.1 billion in VC funding last year, making the UK the third largest market in the world for tech investment. I look forward to seeing TDK Ventures thrive in the UK in supporting our efforts to tackle climate change.”

To learn more about TDK Ventures, interested startups or investment partners should visit www.tdk-ventures.com or reach out at contact@tdk-ventures.com. 

About TDK Corporate

TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately “Attracting Tomorrow.” It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK’s comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2023, TDK posted total sales of USD 16.1 billion and employed about 103,000 people worldwide.

About TDK Ventures

TDK Ventures Inc. invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios. Established in 2019 as a wholly-owned subsidiary of TDK Corporation, the corporate venture company’s vision is to propel the digital and energy transformations of segments such as health and wellness, next-generation transportation, robotics and industrial, mixed reality and the wider IoT/IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to global markets where TDK operates. Interested startups or investment partners may contact TDK Ventures: www.tdk-ventures.com or contact@tdk-ventures.com.

You can download this text and associated images from http://www.tdk-ventures.com/tdk-ventures-expands-into-Europe-will-use-new-150-million-Fund-EX1-to-invest-in-clean-tech-startups/

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PR Newswire

Visionary Education Technology Holdings Group Inc. Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

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TORONTO, ON, June 16, 2023 /PRNewswire/ — Visionary Education Technology Holdings Group Inc. (the “Company”) (NASDAQ: VEDU), a private education provider headquartered in Canada, with market partners in China, today announced that the Company has received a written notification (the “Notification Letter”) from the Nasdaq Stock Market LLC (“Nasdaq”) on June 14, 2023, notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rules for continued listing on the Nasdaq.

Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement shall be determined to exist if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company’s common shares for the 30 consecutive business days from May 1, 2023 to June 13, 2023, the Company no longer meets the minimum bid price requirement.

The Notification Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until December 11, 2023, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the Company’s common shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days. In the event the Company does not regain compliance by December 11, 2023, the Company may be eligible for additional time to regain compliance or may face delisting.

The Company’s business operations are not affected by the receipt of the Notification Letter. The Company intends to monitor the closing bid price of its common shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding common shares, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.

About Visionary Education Technology Holdings Group Inc.

Visionary Education Technology Holdings Group Inc., headquartered in Toronto, ON, Canada, is a private education provider that offers high-quality education and industrial resources to students worldwide. The Company aims to provide access to secondary, college, undergraduate and graduate and vocational education to students in Canada. Through technological innovations, that fulfill industrial standards, more people can learn, grow and succeed, to release their full career potential. As a fully integrated provider of educational programs and services in Canada, the Company has been serving, and will continue to serve, both Canadian and international students and contributing to the industry. For more information, visit the Company’s website at https://ir.visiongroupca.com/. 

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions ) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth, ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; and other factors listed in the Company’s Annual Report on Form 20-F for the year ending March 31, 2022, as amended, and in other filings made by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For more information, please contact:
Visionary Education Technology Holdings Group Inc.
Investor Relations Department
Email: ir@farvision.ca

PR Newswire

SDAIA and World Bank Group Meet and Discuss the Kingdom’s Global Role in Digital Development Policies

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RIYADH, Saudi Arabia, June 13, 2023 /PRNewswire/ — His Excellency Dr. Esam A. Alwagait, Director General of National Information Center at the Saudi Data and Artificial Intelligence Authority – SDAIA, received Ms. Christine Zhenwei Qiang, Director of the Digital Development Global Practice at the World Bank today at SDAIA headquarters in Riyadh, and her accompanying delegation, in the presence of several officials from SDAIA.

His Excellency discussed with the Director of the World Bank’s Digital Development Global Practice the Kingdom’s role in the Digital Development Partnership (DDP) that aims to enable growth and prosperity in developing countries. In addition, the two parties discussed SDAIA’s efforts in the DDP Partnership Council, the Kingdom’s experience and competitive gains at the international level, and the DDP 2.0 strategy, which includes several areas and priorities for digital development policies in developing countries. Last year, the Kingdom, represented by SDAIA, joined the multi-donor trust fund, which is administered by the World Bank, as a partner.

During the visit, SDAIA organized a meeting in the presence of several government entities’ representatives, including the Ministry of Energy, the Ministry of Communications and Information Technology, and the Saudi Fund for Development, as well as representatives of the Communications, Space and Technology Commission, the National Cybersecurity Authority, the Digital Government Authority, King Abdullah University of Science and Technology and the Public Investment Fund, represented by SCAI and Elm.

During the meeting, participants discussed the leading practices in the Kingdom in digital development, the Kingdom’s policies in this area, and the effective role the Kingdom plays in promoting digital development policies at the international level in addition to aligning and supporting efforts related to digital development in developing countries.

PR Newswire

Goldpac receives three 2023 ICMA Élan Awards, demonstrating excellent design and innovation abilities

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Recognized with three awards in 2023

HONG KONG, June 12, 2023 /PRNewswire/ — The 2023 ICMA Élan Awards was officially announced recently, and Goldpac (03315.HK) was again recognized with three awards, demonstrating Goldpac’s world class card design and card technology innovation abilities.

As the most prestigious annual award in the global card industry, the ICMA ÉLAN Awards honors world-class achievements in both card design and technological innovation. As a recipient of multiple ICMA ÉLAN Award over the past several years, Goldpac adds three major awards this year, namely Personalization & Fulfillment – Product, Service or Project – WINNER, Manufacturer – Loyalty, Promotional, Gift Cards – FINALIST, and Personalization & Fulfillment – Product, Service or Project – FINALST.

World-leading design and innovation capabilities

Since its entry in 2004, Goldpac has been recognized with a total of 44 ICMA ÉLAN Awards, making it one of the few Fintech companies that has consistently received multiple ICMA awards. As a global leader in security payment products and total solutions, Goldpac will adhere to the latest trends in the security payment industry, will continuously promote the innovation of craftsmanship and technology, and is committed to creating “high value + high tech” products.

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About Goldpac Group Limited (Stock Code: 03315.HK)

Goldpac, established in 1993, was successfully listed on the Main Board of the Hong Kong Stock Exchange in 2013. As one of the earliest Fintech enterprises in China, with 30 years’ of successful experience and a leading global technology portfolio, Goldpac is committed to its core vision of “Making Transactions More Secure and Convenient”. Goldpac specializes in delivering embedded software and secure payment products and digital equipment for global customers in the field of smart secure payment, and providing data processing services, system platforms and other total solutions for customers in a wide business range including financial, government, healthcare, transportation and retails by leveraging innovative Fintech.

Website: www.goldpac.com
E-mail: goldpac@goldpac.com