SIDRA CAPITAL LAUNCHES SINGAPORE-BASED VCC FOR CROSS-BORDER COMMODITY SUPPLY CHAIN INVESTMENTS

SINGAPORE, Jan 29 (Bernama-GLOBE NEWSWIRE) -- Sidra Capital, a leading Shari’ah-compliant asset management firm regulated by the Saudi Arabian Capital Market Authority, is delighted to announce the launch of its maiden Singapore-domiciled variable capital company Sidra Asian Opportunities Investment I VCC (VCC).

In November 2023, the VCC was launched with an investment strategy focused on facilitating cross-border commodity supply chains via fully funded irrevocable Letters of Credit (LC). The VCC specifically targets the high demand for solid fuel produced by select Indonesian producers, valued for the intrinsic qualities of the commodity and reliability of the producers in delivering the expected quantity and quality to purchasers.

To enhance security the underlying trades are secured end-to-end by USD-denominated LCs issued or confirmed by banks with strong credit ratings, which eliminates foreign exchange and payment risks. Furthermore, as the trades are structured as back-to-back purchases and sales of commodities rather than speculative trading, investors are not exposed to inventory and price risks.

Expressing his pleasure over the launch of the VCC, Mr. Hani Baothman, Chairman of Sidra Capital, said, “Sidra Capital is at the forefront of innovating private finance investment solutions, and the VCC is a natural progression in the process, taking advantage of Singapore’s robust legal framework and being home to major global financial institutions, as well as extensive double tax treaties with various jurisdictions, which ultimately benefit the fund investors.”

Furthermore, Mr. Baothman expressed Sidra Capital’s support for the Singapore government’s ambition to become a global Islamic Finance hub. The Shari’ah-compliant Singapore VCC is a unique investment proposition and a welcome addition to the local and regional asset management scene. Sidra Capital takes pride in its contribution towards the development of the Islamic Finance industry in Singapore. 

http://mrem.bernama.com/viewsm.php?idm=47951

SOFTBANK VENTURES ASIA IS NEWLY BECOMING SBVA

The New SBVA Establishes KRW 200B ($150M) Korea Venture Fund

 

SEOUL, South Korea, Jan 29 (Bernama-BUSINESS WIRE) -- SoftBank Ventures Asia is officially changing its company name to SBVA from beginning of February 1st after The Edgeof acquired the company from SoftBank Group Corp.(SBG) in June of last year. The new SBVA embraces the concept of technological singularities and the broader impacts of the virtues of artificial intelligence, reflecting its commitment to leading in this transformative era. It also reflects the continuity of its business domestically and internationally, highlighting the sustained connectivity with its partners, infrastructure and portfolio companies developed over the past two decades. SBVA is poised to actively seek out startups that will revolutionize various industries through innovative technology, building upon its ICT investment expertise.

The new SBVA has recently closed the “2023 Alpha Korea Fund,” with a total committed amount of approximately ₩200 billion ($150M). The funding amount significantly surpasses the initial target of ₩100 billion, underscoring the significance of successfully exceeding fundraising goals in a market downturn.

Investors(LP) include Korea Development Bank(KDB) as the anchor LP, SBG, Hanwha Life, Industrial Bank of Korea(IBK), Nexon, KB Capital and others.

SBVA, through this fund, aims to actively discover early to mid-stage startups that capitalize on technological innovations in ICT, such as artificial intelligence (AI), robotics, and computing, and create new business opportunities. Major investment areas across industries include Enterprise SW, Healthcare, Content and Industrial Deep Tech.

Moving forward, SBVA plans to extensively support the international expansion of domestic startups leveraging its global investment capabilities and network.

According to JP(JoonyPyo) Lee, the CEO of SBVA, "Despite the venture investment winter, we were able to successfully conclude the establishment of this fund based on the trust of our investors. We will continue to actively engage in investment activities by closely listening to the concerns of entrepreneurs."

Yoshimitsu Goto, the CFO of SBG stated, “We are delighted that SBVA that has expertise and network of the startup investment business for more than 20 years will make the new start with The Edgeof, an ecosystem builder and venture capital entity. As a LP, we are excited to join the first fund that the new SBVA has established.”

View source version on businesswire.com: 
https://www.businesswire.com/news/home/53888211/en 
 

Contacts
 

Suyoung Lee
PR/Communication Manager
suyoung.lee@softbank.co.kr

Source: SoftBank Ventures Asia

KFSH&RC CELEBRATES 25 SCIENTISTS NAMED IN STANFORD'S TOP 2% MOST-CITED RESEARCHERS WORLDWIDE

RIYADH, Saudi Arabia, Jan 26 (Bernama-GLOBE NEWSWIRE) -- King Faisal Specialist Hospital and Research Centre honored 25 scientists who joined Stanford University's prestigious list, marking them among the 'top 2% most-cited scientists' list updated in October 2023. 

The recent release recognizes 25 distinguished KFSH&RC scientists, among the top 2% most-cited researchers worldwide in 2021-2022, and acknowledges their overall career accomplishments. This prestigious recognition celebrates the outstanding contributions and impact of KFSH&RC researchers on the global scientific stage, highlighting KFSH&RC's steady commitment to advancing healthcare through novel research. It elevates its international reputation as a pioneer hub for innovative research.

His Excellency Dr. Majid Al Fayyadh, Chief Executive Officer, KFSH&RC, stated: "We are incredibly proud of this recognition, a testament to our firm commitment to advancing healthcare through cutting-edge research and innovation at home and beyond. This new milestone reflects the dedication and expertise of our exceptional team of scientists and medical professionals who continually push the boundaries of knowledge. At KFSH&RC, we remain dedicated to our mission to shape the future of healthcare and contribute to global advancements in the field."

Renowned for its annual compilation, Stanford University highlights the remarkable achievements of scientists whose research has reaped the highest citations in international and scientific journals. The university unveils a list featuring 180,000 researchers representing the top 2% of most-cited scientists globally each year. This compilation covers 22 research fields and 176 subfields, utilizing citation metrics from the Scopus database. 

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VONAGE RESEARCH REVEALS 80% OF APAC CUSTOMERS ARE LIKELY TO TAKE THEIR BUSINESS ELSEWHERE FOLLOWING POOR EXPERIENCES

Data highlights ways AI brings 24/7 immediacy, with automation and personalisation, for continuous engagement across diverse communications channels


SINGAPORE, Jan 26 (Bernama-BUSINESS WIRE) -- Vonage, a global leader in cloud communications helping businesses accelerate their digital transformation and a part of Ericsson (NASDAQ: ERIC), has released its Global Customer Engagement Report 2024. The 12th annual report outlines data and insights into customer communications preferences with businesses, highlighting emerging trends that emphasise the need to augment these interactions with artificial intelligence (AI) to enhance customer engagement. The 2024 report is based on nearly 7,000 consumer responses from 17 countries, including Australia, China, India, Indonesia, Japan, Singapore and South Korea.

AI’s Role to Reduce Frustration and Deliver Great CX

The global data revealed consumers continue to prefer a range of channel options when communicating with businesses, with mobile phone calls (36%), messaging/non-SMS apps (31%) and phone calls via apps (29%) ranking high in preference. However, less than half (42%) indicated they are “very satisfied” when communicating with businesses.

In APAC, consumers revealed that mobile phone calls (73%) are the most common method used by customers to communicate with businesses, followed by phone calls via messaging apps (60%), messaging via non-SMS apps (64%), emails (50%) and social media posts (47%).

Consumers cited multiple frustrations such as long wait times to speak to an agent (63%), no way to speak to customer service via voice/phone (59%), lack of 24/7 support availability (48%) and lack of self-service support (46%).

The report found that (80%) of APAC customers are likely to take their business elsewhere as a result of poor experiences, and 61% of consumers will not tolerate bad experiences and will walk away after just one or two bad encounters.

These findings underscore opportunities to leverage AI. With tools like AI-based virtual assistants, businesses are equipped to provide quick resolution, reduce frustrations and ultimately provide a more targeted and personalised experience for the user, including the ability to:

• Triage urgent customer inquiries
• Provide smarter self-service at scale
• Deliver smart IVR (interactive voice response) and skills-based routing to connect customers with an agent best suited to handle their query, preventing and mitigating a bad customer experience

Report findings demonstrate that consumers are embracing AI to make their experiences better. In fact, responses show a likelihood that chatbot and video chat usage will more than double within the next year, with 10% using chatbots today and 23% expected usage in the next six to 12 months. Additionally, 13% indicate they’re using video chat today, with 26% expected usage in the next six to 12 months.

Commenting on the report findings, Joy Corso, Chief Marketing Officer at Vonage, highlights the significance of these results in shaping customer experience (CX): “This data underscores that, to differentiate on customer engagement, businesses need an omnichannel communications strategy that allows customers to contact them seamlessly across their preferred channels. Those that do will also benefit from the ability to leverage the powerful capabilities of AI across communication channels, such as voice, video, messaging, and chat, enabling them to augment live customer support. This goes a long way to ensuring personal and real-time customer engagement at every touchpoint.”

“Metrigy’s upcoming AI for Business Success study shows significant growth for AI-enabled technologies, with 38% of CX leaders saying 2024 will be their turning point for acceptance of AI in CX, up from 17% in 2023,” says Metrigy CEO Robin Gareiss. “Companies that adopt and integrate AI and automation into their CX processes have documented compelling success metrics, with improvements in customer satisfaction and loyalty, as well as agent efficiency. Companies not using AI on an omnichannel environment are already at a competitive disadvantage, so it’s imperative to establish a targeted AI strategy now.”

Positive CX Creates Loyal Brand Ambassadors

With 56% of consumers indicating they are likely to offer positive survey feedback after a great experience with a business and 55% noting they would share their experience with friends and family, it’s clear that great experiences create valuable brand ambassadors. Even better, more than half (52%) of customers report heightened brand loyalty following such an encounter, and more than a third (36%) go as far as purchasing additional products.

Added Corso, “This report emphasises that businesses that leverage AI across communications channels have the ability to facilitate the kind of meaningful, intelligent conversations that strengthen loyalty, build long lasting customer relationships and ultimately boost sales.”

The Global Customer Engagement survey was conducted in October 2023, and explored the varied channels customers use for communicating with friends, family, and businesses - including voice, messaging apps, email, social media, chat, and more - and the immense value of delivering excellent customer service.

Read the full Vonage Global Customer Engagement Report 2024 for more insights.

About Vonage

Vonage, a global cloud communications leader, helps businesses accelerate their digital transformation. Vonage's Communications Platform is fully programmable and allows for the integration of Video, Voice, Chat, Messaging, AI and Verification into existing products, workflows and systems. The Vonage conversational commerce application enables businesses to create AI-powered omnichannel experiences that boost sales and increase customer satisfaction. Vonage's fully programmable unified communications, contact center and conversational commerce applications are built from the Vonage platform and enable companies to transform how they communicate and operate from the office or remotely - providing the flexibility required to create meaningful engagements.

Vonage is headquartered in New Jersey, with offices throughout the United States, Europe and Asia and is a wholly-owned subsidiary of Ericsson (NASDAQ: ERIC), and a business area within the Ericsson Group called Business Area Global Communications Platform. To follow Vonage on Twitter, please visit www.twitter.com/vonage. To become a fan on Facebook, go to facebook.com/vonage. To subscribe on YouTube, visit youtube.com/vonage.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240124838299/en/


Contact

Vonage Media:
Nicola Brookes
+44 (0)207 785 8888
nicola.brookes@vonage.com

Source : Vonage

POWERSCHOOL DELIVERS MOST COMPREHENSIVE AI ECOSYSTEM FOR PERSONALIZED EDUCATION WITH LAUNCH OF POWERSCHOOL POWERBUDDY™, AN AI ASSISTANT FOR EVERYONE IN EDUCATION

PowerSchool brings the transformative potential of AI to K-12 education through the integration of AI models across its product and data platform with the introduction of PowerBuddy, the generative AI-powered assistant

FOLSOM, Calif., Jan 24 (Bernama-BUSINESS WIRE) -- PowerSchool (NYSE: PWSC), the leading provider of cloud-based software for K-12 education in North America, today announced the next evolution of its AI platform with the launch of PowerSchool PowerBuddy™, an AI-powered assistant for everyone in education.

PowerSchool’s AI ecosystem founded on Responsible AI principles uniquely benefits all stakeholders crucial to a student’s educational journey. With their very own PowerBuddy, each student, parent, educator, counselor, and administrator will now have safe and secure access to individualized guidance, information, and resources at their fingertips, helping students receive the most optimal social, emotional, and academic support in a way never experienced before.

Unlike other one-off AI offerings, PowerSchool’s comprehensive AI ecosystem is purposefully engineered to “bring AI to data.” This distinctive approach upholds rigorous standards of privacy, ethics, and security establishing a modern method for responsible and innovative AI implementation in education.

PowerBuddy is a role-specific Conversational AI assistant being piloted now and will be available for the 2024-2025 school year to support student progress in and out of the classroom.

PowerBuddy will initially be incorporated into Schoology Learning offering students on-demand, one-on-one assistance with their assignments and tailored pathways transforming traditional learning into an immersive and engaging experience. Teachers will be able to use PowerBuddy to generate lesson plans, automate the creation of quizzes and assessments in Performance Matters, and personalize homework at scale, saving them time to focus on what’s most important – interaction with students. Additionally, it will offer individualized college and career guidance through Naviance CCLR for both counselors and students.
Parents can leverage PowerBuddy in My PowerSchool to inquire about their child's academic performance and other relevant information. They will receive proactive alerts if their child is falling behind, fostering transparency and empowering parents to participate in their child’s education. Additionally, PowerBuddy will offer personalized, district-approved academic and social-emotional learning resources from ContentNav to actively support them in their child's learning. Furthermore, administrators can ask natural language questions about their data within Analytics & Insights and PowerSchool SIS to truly democratize information for decision-making. PowerBuddy will eventually be expanded across the entire PowerSchool ecosystem. It will be system-agnostic and will integrate with most education technology tools, including non-PowerSchool products. 

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[INVNT GROUP]™ THE GLOBAL BRAND STORYTELLING AGENCY PORTFOLIO, EXPANDS TO SOUTH ASIA OPENING TENTH OFFICE IN MUMBAI, INDIA

Mumbai, India, Jan 18 (Bernama-GLOBE NEWSWIRE) -- [INVNT GROUP] The Global BrandStory Project™, announces its expansion into South Asia opening its tenth office across seven countries in Mumbai, India. The move aligns with the Group’s vertical and horizontal growth strategy, which supports the increasing demand for innovative brand storytelling in one of the fastest-growing markets including Tata Motors, Hitachi Vantara, Samsung, Sun Pharmaceutical, and more.

With a significant presence already established in key locations such as New York, London, Sydney, Singapore, Dubai, San Francisco, Detroit, Washington D.C, and Stockholm, the addition of Mumbai to [INVNT GROUP]'s global footprint marks another step in bolstering its services to both local and multinational clients.

"We are excited to extend our reach and expertise to South Asia, a region that is rapidly emerging as a hub for technological and marketing communications innovation. Establishing a base in Mumbai is not solely a strategic decision but also a response to our client's growing needs to engage and build wider and deeper communities. It reinforces our commitment to delivering impactful brand stories globally and locally, catering to the unique challenges and opportunities in the region. Our goal is to create unparalleled brand experiences that resonate deeply with local audiences and set new standards in creativity and strategic execution on the global stage. We’re also thrilled to welcome Laveesh Pandey, who joins our team with the perfect experience to drive the group’s expansion in the region,” said Scott Cullather, President & CEO of [INVNT GROUP], and CEO of INVNT.ATOM.

Laveesh Pandey has been appointed Managing Director of [INVNT GROUP] South Asia, reporting into Scott Cullather and Kristina McCoobery, INVNT CEO and [INVNT GROUP], COO. Pandey, previously Chief Operating Officer at Starlight Gaming, joins the global agency with over two decades of experience in the Media & Entertainment industry. Having held key positions at MindShare, Reliance Entertainment, Zapak Digital Entertainment and Clockwork Events, Pandey brings a deep knowledge of technology, gaming, experiential marketing, and advertising, with his award-winning leadership powering transformative B2B and B2C brand experiences. 

“I am elated to lead [INVNT GROUP]’s expansion into South Asia, particularly in the dynamic and crowded Indian market. Brands in this region are eager for innovative ways to stand out, and we are here to deliver a blend of global best practices with deep local insights. In a world that is rapidly evolving, our focus is on connecting brands with their most important communities and audiences in meaningful, authentic, and engaging ways. With [INVNT GROUP]’s diverse capabilities, we are set to redefine brand storytelling in the vibrant South Asian market, creating real impact through the next great era of brand engagement in this region,” said Laveesh Pandey, Managing Director of [INVNT GROUP] South Asia.

INVNT™ also welcomes Abhishek Pandey as Producer (previously Senior Manager of Operations & Client Relations at MidasNext Media), and Varun Parashar as Manager of Account Services (previously Marketing & Community Lead at Starlight Gaming).

With this expansion, [INVNT GROUP] continues to uphold its vision of engaging audiences everywhere by crafting compelling and impactful brand stories across all platforms.

For more information, please visit [INVNT GROUP]. 

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LRN COURSES RECEIVE IBF ACCREDITATION IN SINGAPORE

47-strong course catalog accredited by the Institute of Banking and Finance Singapore provides financial institutions with robust options for ethics and compliance training


SINGAPORE, Jan 18 (Bernama-BUSINESS WIRE) -- LRN Corporation, the global leader in ethics and compliance (E&C) solutions that enable organizations to inspire principled performance, has today announced that 47 of its courses have been accredited by the Institute of Banking and Finance Singapore (IBF).

The IBF – Singapore’s national accreditation and certification agency for financial industry competency, under the Skills Framework for Financial Services – aims to foster and develop professional competency across the financial services sector. It operates in accordance with regulatory requirements set out by the Monetary Authority of Singapore (MAS).

The accredited courses from LRN provide financial services industry professionals with the necessary training to enhance their capabilities and ensure compliance with regulatory frameworks. Among the many topics addressed by the English-language courses are anti-money laundering, code of conduct, information security, anti-bribery and corruption, fraud and financial crime prevention, and Singapore’s Personal Data Protection Act. Completion of any of the accredited LRN courses will count toward the mandatory annual requirements for Continuing Professional Development (CPD), as stipulated by the IBF.

LRN is a world leader in ethics and compliance training, providing courses that are developed by in-house subject matter experts and reflect real-time regulatory changes. The available courses have been specifically designed to cover 11 different risk areas, which have been tailored to the needs of Singapore financial institutions.

The available courses also leverage the latest in e-learning design and user experience – a hallmark of LRN’s approach to ethics and compliance learning – including interactive modules and mobile-ready technology. As well as providing access to the most up-to-date information through LRN’s accredited e-learning courses, organizations can also easily analyze and report on employee training progression through all their assigned courses – and glean insights into overall compliance program performance – in order to demonstrate regulatory compliance requirements.

“Receiving IBF accreditation is critically important to ensuring that LRN can offer the most robust, flexible and relevant training available to financial industry professionals in Singapore,” said Matt Plass, Global Head of Segments at LRN. “Our accredited catalog of CPD-ready courses brings together the market-leading e-learning experience for which we are renowned, with real-time relevance and insight that is specific to the Singapore market.”

ABOUT LRN CORPORATION

LRN's mission and purpose is to inspire principled performance and help people around the world do the right thing. Since 1994, LRN has worked to propel organizations forward with the partnership, knowledge, and tools to build ethical culture. More than 2,800 companies and tens of millions of learners worldwide utilize LRN services and take LRN e-learning courses to help navigate complex regulatory environments and foster ethical, responsible, and inclusive cultures. In partnership with LRN, companies translate their values into concrete corporate practices and leadership behaviors that create sustainable competitive advantage. By acting upon shared values, companies and their people find the means to outbehave and outperform. Learn more at LRN.com and follow on Twitter, LinkedIn, and Facebook.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240117976303/en/

Contact

MEDIA

[SINGAPORE] Clement Foo, Gavin Choo or Sheila Lim, Blue Totem Communications
lrn@bluetotem.co

Source : LRN Corporation

AM BEST AFFIRMS CREDIT RATINGS OF ETIQA GENERAL INSURANCE BERHAD

SINGAPORE, Jan 15 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Etiqa General Insurance Berhad (EGIB) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect EGIB’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). In addition, the ratings factor in a neutral impact from the company’s ultimate majority ownership by Malayan Banking Berhad (Maybank group), one of the largest financial services groups incorporated, listed and domiciled in Malaysia.

EGIB’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at year-end 2022, as measured by Best’s Capital Adequacy Ratio (BCAR), and is expected to remain at that level over the near to medium term. AM Best views the company as having a moderate-risk investment strategy, which is made up of a combination of low-risk assets of cash, deposits and bonds, as well as higher-risk assets including equities and real estate. In addition, the company has a high dependence on reinsurance, with a net retention ratio of 33% in 2022. As a result, the company’s reinsurance recoverables are a large balance sheet item, equal to three times its shareholders’ equity at the end of 2022.

AM Best assesses EGIB’s operating performance as strong, with a five-year average combined ratio of 87% (2018-2022). Overall earnings have been supported by favourable underwriting performance and stable investment income. Low net loss experience in the company’s core business lines of fire and personal accident, as well as favourable reinsurance commission income from ceded risks, have been the key drivers of technical profitability over recent years. Although the ongoing phased liberalisation of motor and fire insurance pricing in Malaysia and the company’s business initiatives may constrain future underwriting margins, AM Best expects EGIB to maintain its strong operating performance over the medium term, underpinned by underwriting and pricing discipline.

AM Best views EGIB’s business profile as neutral. The company is a mid-sized non-life insurer in Malaysia, with a market share of over 8%, based on 2022 gross direct premium. The company’s underwriting portfolio is diversified moderately by line of business and distribution channel, albeit with all business originating from Malaysia. As part of the Maybank group, EGIB benefits from good distribution capabilities with preferential access to business through its parent’s banking network.

AM Best views EGIB’s ERM approach as appropriate given the current size and complexity of its operations. Risk management capabilities typically are considered appropriate relative to the profile of the company’s key risks, although reinsurance credit/dispute risk is viewed to be elevated given the company’s exposure to some non-rated reinsurance counterparties, including captives.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

Sin Yee Chuah, CFA
Senior Financial Analyst
+65 6303 5022
sinyee.chuah@ambest.com

Victoria Ohorodnyk
Director, Analytics
+65 6303 5020
victoria.ohorodnyk@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

Technology Meets Fashion: Vietnam’s First Payment Bracelet Creates A Buzz Among Gen Z

KUALA LUMPUR, Jan 10 (Bernama) -- OMverse, the leading digital performance solutions announced Stellar, the first payment bracelet in Vietnam has been a hit with young people in the country thanks to its flexible experience, as demonstrated during the DigiLounge#4 "Revealing Stellar - a pioneer in the new payment style of GenZ" event hosted by the company.

Launched in mid-Nov 2023, Stellar payment bracelet was resulted from a strategic combination between the Military Commercial Joint Stock Bank (MBBank) and Omega Media (a member of OMverse).

Integrating two debit and credit chips in one device, it gives customers convenient one-touch payment without a network connection or battery charging, according to OMverse in a statement.

With 18 options of design, colour and individually designed personality charms, this payment-fashion friend is also waterproof and dust resistant, suitable for all types of weather and outdoor activities of Gen Z.

Priced at an affordable price, about US$16, it attracted many young people between the ages of 25 and 40, who love technology, fashion and are always ready to try new things. (US$1=RM4.64)

The launch of the Stellar payment bracelet marked a breakthrough in product marketing and brandformance in the banking and finance industry and impressed leading marketing experts in Vietnam.

A representative from Omega Media shared that Gen Z in Vietnam has been always looking for new experiences, so the banking and finance industry also needs innovative products to keep up.

The launch of Stellar, when technology meets fashion in a bracelet, was timely and could contribute to creating new payment trends.

The highlight of DigiLounge#4 was the activity of experiencing the one-touch payment style with Stellar right at the event, with many C-level and marketing managers from large Vietnamese enterprises taken aback by Stellar's time-saving and convenient features.

They also enjoyed special charm sets with many humorous and bold messages created by the Gen Z designers and are optimistic that Stellar may eventually reach Gen Alpha in its entirety.

-- BERNAMA

WEMADE KICKS OFF MIR4 NEW YEAR'S EVENT

KUALA LUMPUR, Jan 10 (Bernama) -- Wemade Co Ltd announced its blockbuster mobile massively multiplayer online role-playing game (MMORPG) MIR4 has started its New Year’s Event “Search for the Blue Cintamani Stone” on Jan 9, while its “Mir's Blue Cintamani Stone Exchange Shop” opened in MIR4 until Jan 22.

Players can take the “Blue Cintamani Stone” they received during hunting to the non-player character (NPC) “(2024) Mir” found in big cities of each area to exchange for items such as “Legendary Blue Dragon Statue” and “Yellow Dragon's Surprise Gift Box” which contains various summon tickets.

The event “Blue Dragon's 14-Day Check-in” continues through Feb 5, and depending on the day the player logs in, plenty of items including “[E] Dragonsteel Box” and “Winter Flower Snowboard Exchange Ticket” are gifted.

Moreover, “Event Clan Coin Shop” is open until Jan 23 whereby players may use the Clan Coins obtained via clan activities to purchase “[L] Mystic Enhancement Stone” and “Sarmati’s Transference Equipment Box”, among others.

According to the South Korean online game developer in a statement, the new legendary secondary equipment ‘Transference Equipment’ is added, which increases PHYS ATK and Spell ATK when equipped.

Transference Equipment is an item received when the players form bonds with individuals of the Outerworld through Mirage Ship.

-- BERNAMA

GLOBAL FISHING WATCH REVEALS 75 PCT WORLD’S INDUSTRIAL FISHING VESSELS HIDDEN FROM PUBLIC VIEW

KUALA LUMPUR, Jan 4 (Bernama) -- About 75 per cent of the world’s industrial fishing vessels are not publicly tracked, with much of that fishing taking place around Africa and south Asia, according to a newly published study led by Global Fishing Watch in the journal Nature.

Providing an unprecedented view of previously unmapped industrial use of the ocean and its shifting patterns, the analysis also revealed that more than 25 per cent of transport and energy vessel activity are also missing from public tracking systems.

The groundbreaking study uses machine learning and satellite imagery to create the first global map of large vessel traffic and offshore infrastructure, finding a remarkable amount of activity that was previously “dark” to public monitoring systems.

“On land, we have detailed maps of almost every road and building on the planet. In contrast, growth in our ocean has been largely hidden from public view.

“This study helps eliminate the blind spots and shed light on the breadth and intensity of human activity at sea,” said its director of research and innovation and co-lead author of the study, David Kroodsma in a statement.

Researchers from Global Fishing Watch, the University of Wisconsin-Madison, Duke University, UC Santa Barbara and SkyTruth analysed two million gigabytes of satellite imagery spanning 2017-2021 to detect vessels and offshore infrastructure in coastal waters across six continents where more than three-quarters of industrial activity is concentrated.

The study also shows how human activity in the ocean is changing. Coinciding with the COVID-19 pandemic, fishing activity dropped globally by about 12 per cent, with an eight per cent decline in China and a 14 per cent drop elsewhere, while transport and energy vessel activity remained stable.

Additionally, it highlights the potential of this new technology to tackle climate change, in which mapping all vessel traffic will improve estimates of greenhouse gas emissions at sea, while maps of infrastructure can inform wind development or aid in tracking marine degradation caused by oil exploration.

The open data and technology used in the study can help governments, researchers and civil society to identify hotspots of potentially illegal activity, determine where industrial fishing vessels may be encroaching on artisanal fishing grounds, or simply better understand vessel traffic in their waters.

The study was supported by National Geographic Pristine Seas and Oceankind, and Global Fishing Watch is able to further the application of this innovative work, as an awardee of The Audacious Project, a collaborative funding initiative that is catalysing social impact on a grand scale.

-- BERNAMA

NEW YEAR'S EVE VISITOR ARRIVALS IN HONG KONG SHATTER 2023 RECORD

KUALA LUMPUR, Jan 3 (Bernama) -- Hong Kong saw more than 223,000 visitors arrived on New Year’s Eve, breaking the record of daily visitor arrivals in 2023, with so many people travelling from all over the world for the holidays.

On New Year’s Eve, all eyes turned to Hong Kong for the city's largest firework display, as the world eagerly anticipates the arrival of 2024.

Set against the iconic Hong Kong skyline, locals and visitors worldwide were treated to a 12-minute firework musical performance, surpassing any previous New Year's Eve displays in the city in both coverage and duration.

According to Hong Kong Tourism Board (HKTB) in a statement, the largest-ever countdown fireworks was themed with the cycling seasons, surprising locals and visitors alike with magnificent bliss.

Organised by HKTB, the firework musical performance of “Hong Kong New Year Countdown Celebrations” concluded successfully on Jan 1,  bidding farewell to 2023 and welcoming 2024 in joy.

-- BERNAMA