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    Business Wire India

    Hong Kong based blockchain technology platform PRIVATEMARKET.IO has announced that former CEO at Citibank Private Bank, Aamir Rahim, along with former Managing Director at Nomura, Richard Byworth, have joined the company’s board of advisors.

     

    Aamir Rahim has spent 30 years in the finance industry and is currently a Fellow at Harvard University on a mission to affect positive social change. Prior to that, Aamir held several senior posts at Citi in Asia-Pacific. He was the CEO of Citi Private Bank, Co-Head of Fixed Income Currencies and Commodities and Head of Fixed Income Capital Markets. Most recently, he led the Public Sector Group for Citi in Asia-Pacific.

     

    Richard Byworth, currently Chief Operating Officer of HK based Blockchain startup Diginex, is an 18 year finance veteran most recently running a global derivatives distribution franchise for Nomura. He was part of Nomura’s Asia Fintech committee, and has been investing in the private equity and venture capital space for a number of years. He has a proven track record of leading, developing and growing trading and sales teams across London, Tokyo, New York and Hong Kong. Richard has a broad network across the Asian investment community, within traditional finance as well as the alternative asset management space.

     

    Upon their appointment, Loic Engelhard, CEO and Founder of PRIVATEMARKET.IO said: “It is an honour and privilege for our young company to welcome such high-profile figures of the financial industry looking to make a difference in today’s Economy. Aamir and Richard both strongly related to our underlying mission of using meaningful technology for the democratisation of Finance. With their help we are very excited to pursue our quest of designing and offering new solutions that improve transparency and fairness in the outdated private capital markets.”

     

    “PRIVATEMARKET.IO is harnessing the power of cutting edge technology to revolutionize and democratize investment in the Alternatives space. I am excited to be part of this journey,” said Aamir Rahim.

     

    “Loic is building the next generation investment platform, filling in the many gaps that exist in secondary markets for alternative investment products,” said Richard Byworth. “PRIVATEMARKET.IO is a great example of fintech that is changing the way business will be done in the future.”

     

    About PRIVATEMARKET.IO

     

    Established in 2016, PRIVATEMARKET.IO is a fully compliant digital asset marketplace built on blockchain technology that serves as a distribution and investment platform for private equity, venture capital, co-investments, direct deals and real estate financial products.

     

    Our services include product structuring, administration and custody as well as portfolio implementation, including reporting and support for the lifetime of the product. The open platform provides investors with a simplified access to world-class managers and strategies, on demand professional investment services and unique liquidity management solutions.

     

    For more information, visit us at www.privatemarket.io, follow us on Twitter and on LinkedIn.

     

     

     

     

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    Business Wire India

    Calypso Technology, Inc., an industry leading provider of cloud-enabled capital markets and investment management software and services, today announced that Didier Bouillard has joined as Chief Executive Officer and a member of the Board of Directors. Based in London, Mr. Bouillard will oversee Calypso Technology as the company continues to expand its award-winning capabilities to lead the capital markets technology industry. Tom Gavin, who served as interim Executive Chairman, will return to his role as a member of the Board of Directors.

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180410006070/en/

     

    Mr. Bouillard has over 20 years of experience successfully leading global capital markets technology companies. Prior to Calypso, Didier served as CEO of Ullink, a global provider of connectivity and trading services, contributing to multiple years of steady growth.

     

    Speaking about his new position with Calypso, Mr. Bouillard said “I am excited and honored to serve Calypso as Chief Executive Officer. I have spent over 20 years in the capital markets technology industry and have long admired Calypso for its innovative solutions, its blue-chip client base and the extremely high-caliber people it attracts.”

     

    Xavier Robert, Partner at Bridgepoint and member of the Calypso Board, offered a strong endorsement of the company’s new CEO. “The Board wholeheartedly believes Didier is the right leader to achieve the strong growth ambitions we have for Calypso.” Tom Gavin shared his excitement about the future of Calypso with Mr. Bouillard as Chief Executive Officer stating, “Didier is a high-energy leader who brings experience both as a builder of companies and as a leader of established, global-scale organizations. This blend of skills is perfect for Calypso as it continues to create the future of capital markets technology solutions.”

     

    Calypso is a recognized innovation leader in the capital market technology industry, including winner of Central Banking Risk Technology Provider of the Year in 2017.

     

    About Calypso Technology

     

    Calypso Technology, Inc. is a cloud-enabled provider of cross-asset front-to-back solutions for financial markets with over 35,000 users in 60+ countries. Its award-winning software improves reliability, adaptability, and scalability across several verticals, including capital markets, investment management, central banking, clearing, treasury, liquidity, and collateral. Calypso is leveraging innovative cloud microservices and blockchain distributed ledger technology (DLT) based solutions to reduce trading costs and improve time to value.

     

    “Calypso” is a registered trademark of Calypso Technology, Inc. in the U.S., EU and other jurisdictions. Other parties’ trademarks or service marks are the property of their respective owners.

     

     

     

     
    MULTIMEDIA AVAILABLE :
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    Business Wire India

    Taipei Exchange (TPEx), in cooperation with Capital Securities, will be holding the 2018 Taiwan CEO Day in Hong Kong on April 12through 13.

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180412005589/en/

     
    Managing Director& CEO Yu-Ching Su of Taipei Exchange is pictured with representatives from TPEX mai ...

    Managing Director& CEO Yu-Ching Su of Taipei Exchange is pictured with representatives from TPEX mainboard and emerging stock board companies at Taiwan CEO Day (Photo: Business Wire)

    There will be 17 TPEx Mainboard and Emerging Stock Board listed companies joining the event including Chime Ball Technology Co., Ltd., TTFB Co., Ltd., WIN Semiconductors Corp., Bothhand Enterprise Inc., Macroblock Inc., ATE Energy International Co., Ltd., Intech Biopharm Ltd., Senhwa Biosciences Inc., Chunghwa Precision Test Tech Co., Ltd., Chang Wah Technology Co., Ltd., Syngen Biotech Co., Ltd., Phison Electronics Corp., Bon Fame Co., Ltd., Green River Holding Co., Ltd., Kwong Lung Enterprise Co., Ltd., Xxentria Technology Materials Co., Ltd. and Pan German Universal Motors Ltd.

     

    The participating companies represent main industry categories within the TPEx market that includes Electronic Parts/Components, Computer & Peripheral Equipment, Tourism, Semiconductor, Biotechnology & Medical Care, Electric Machinery,Trading & Consumers' Goods Industry and Optoelectronic.

     

    Taipei Exchange emphasizes that not only do the companies joining the event have excellent records of profitability, but also that most of the representatives from these companies are senior executives (including 11 chairmen and 7 CEOs). This event will provide these companies with an opportunity to introduce themselves to international institutional investors face- to-face, present a briefing on their current operating situation and share their vision regarding both the company itself and the industry as a whole.

     

    Taipei Exchange proactively builds bilateral channels to connect TPEx-listed companies with international capital markets. Through this event, Taipei Exchange will offer the listed companies an excellent opportunity to introduce themselves to global long-term investors and a forum in which they can receive strategic advice from overseas investors directly. On the other hand, international investors will also benefit from discovering more investment candidates among the outstanding companies listed on TPEx to add to their investment portfolios.

     

     
    MULTIMEDIA AVAILABLE :
    https://www.businesswire.com/news/home/20180412005589/en/

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    Business Wire IndiaBajaj Finserv, through its lending arm Bajaj Finance Ltd., is offering a flexible funding option to the investors of securities, mutual funds, insurance, and bonds. Bajaj Finserv Loan Against Securities is the hassle-free way to get funds without liquidating any financial asset.

    The product offers a huge relief to people who have invested heavily in securities during financial year end for tax saving purpose. Now, investors need not sell their investments to meet thier funding requirements. Customers can avail instant funding in two easy steps, by simply pledging their securities in favor of the company.
    This product offers easy loans against marketable securities such as Shares, Bonds, Mutual Funds, FMP’s, ESOP financing, IPO financing and Bajaj Allianz ULIP. Customers can avail loans starting from Rs. 5 Lacs up to Rs. 100 crore against a wide range of securities, through a hassle-free online application process with minimal documentation.

    Feature and benefits of Bajaj Finserv Loan Against Security:

    • High Loan Value

    Loans Against Securities comparatively offers high ticket value than other generic loans. Customers can avail loans starting from Rs. 5 Lacs up to Rs. 100 crore against a wide range of securities

    • Minimal Documentation
    Since you are pledging collaterals, Loan against securities does not require any documents making the whole process hassle free
    • Online Account Access
    Customers can exercise complete control over their loan portfolio through Bajaj Finserv Experia Portal including accessing account statements and making payments
    • Relationship Manager
    A dedicated Relationship Manager will be available 24x7 for the customers to provide ongoing assistance with all requests.
    • Wide List of Approved Securities
    A comprehensive list of securities are accepted as a collateral for Loan against securities by customers included Shares, Mutual Funds, FMPs, ESOPs, IPOs and Bonds.
    About Bajaj Finance Ltd.

    Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits and Advisory Services. Bajaj Finance Limited prides itself for holding the highest credit rating of FAAA/Stable for any NBFC in the country today.
     
    To know more, please visit https://www.bajajfinserv.in

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    Business Wire India

    L to R: Vivek Jain (CTO), Akshay Mehrotra (CEO), Ashish Goyal (CFO) & Vimal Saboo (CBO)
    L to R: Vivek Jain (CTO), Akshay Mehrotra (CEO), Ashish Goyal (CFO) & Vimal Saboo (CBO)

    • Offers instant cash ranging from Rs. 8,000 up to Rs. 2 lacs
    • Ultra Short Term Loans on Mobile Apps are becoming a fast reality for Millennials and Gen Z
    • EarlySalary is the only lender which helps young working professionals get access to credit without Credit Bureau history, boosting their financial confidence

    EarlySalary, India’s largest tech enabled digital lender & FinTech start-up launches its operations in the city. The start-up focuses on helping young working professionals get Instant loans and salary advances in minutes for their last minute cash requirements.With over 2 Million app downloads & having disbursed nearly Rs.250Cr of instant loans across the country, EarlySalary is fast becoming the 1st line of credit for young working Indians.
     
    EarlySalary is a short-term, small amount loan given to salaried Individuals. These loans are similar to a salary/cash advance or credit card cash withdrawals. Coupled with algorithm-based decision making which gives better risk assessment and helps go beyond financial underwriting, EarlySalary aims to do more prudent risk assessment and lend better. EarlySalary also allows its users to shop for products and services whilst using the EMI option across key online and off-line retailers. Customers can get up to 3 months instant credit to make bookings for movie tickets, travel tickets, hotels and pay their utility bills via a simple chatbot interface. 
     
    EarlySalary will offer a quick fix ‘Fatafati cash’ solution (Super-fast instant cash) for month-end cash crunch needs to young working professionals in Kolkata. Kolkata offers a large market potential for consumer FinTech companies, being the third most populated city in India. Recently, it has also been announced that the government will be setting up ‘Silicon Valley Asia’ in Rajarhat, to attract investments and create employment in the IT industry. EarlySalary foresees a significant possibility of being successful in Kolkata, where young salaried professionals who have just begun their career need a helping hand at the end of the month. In fact 50,000 potential users from Kolkata have already downloaded the app.
     
    Commenting on the launch, Akshay Mehrotra, Co-founder & CEO of EarlySalary.com said,
    “We are excited to start our operations in Kolkata and introduce instant salary advances and loans to India’s third largest metro city. Pohela Boishakh, the first day of the Bengali calendar, is indeed a significant day for each and every Bengali. Hence, EarlySalary with its launch in Kolkata aims to multiply this festivity & cheer by offering Kolkatians instant cash loans. We are confident that EarlySalary will become the preferred choice of instant credit for young working professionals in Kolkata.”
     
    He also added, “EarlySalary uses machine learning based decision making for better risk assessment and go beyond financial underwriting. It also combines credit bureau reports with social media details of the user and takes a decision of granting a loan within few minutes.
     
    Thus, with the incorporation of this new age technology for lending funds, EarlySalary promises to deliver a revolutionary new business model, so as to change the lending market scenario in India. With real time processes, machine learning enabled scorecards, alternate data for decision making & real time transfers, EarlySalary aims to further expand its customer base.”

    EarlySalary aspires to join the unicorn club this year following a Rs100 crore funding round in January 2018 from Eight Roads Ventures & existing investors IDG Ventures India & DHFL.

    While concentrating on providing instant loans to young working professional, EarlySalary is now also focusing on introducing more features like PayLater options, Credit Limit transfers for digital wallets and EMI options for shopping.
     
    With the Kolkata launch, EarlySalary will now have a presence in a total 15 cities in India. Other than Kolkata, EarlySalary is present in Bangalore, Chennai, Mumbai, Pune, Delhi/NCR, Hyderabad, Vijaywada, Ahmedabad, Jaipur, Coimbatore, Visakhapatnam, Mysore, Mangalore & Chandigarh.

    About EarlySalary.com
     
    Founded by Akshay Mehrotra and Ashish Goyal, EarlySalary is a mobile app which allows salaried individuals to avail of instant loans for a few days or till the next salary cycle. These loans are similar to salary advances or credit card cash withdrawals, empowering consumers with ready cash when it is most needed. The company conducts prudent risk assessment by leveraging machine learning to go beyond financial underwriting. With over 2 Million app downloads & disbursed nearly Rs.250 Cr of instant loan across the country, EarlySalary is fast becoming the 1st line of credit for young working professionals in India The company has been working on introducing multiple products, line of credit functionality, EMIs and other products focused towards helping young working professions with credit needs.

    For more information please visit www.earlysalary.com
    Like us on Facebook: fb.com/EarlySalary
    Follow us on Twitter: twitter.com/early_salary
     
    Key Features
    • Instant Salary Advance up to 50% of monthly Salary in less than 10 minutes
    • Super-fast: 70% loans are granted in less than 10 minutes
    • Instant Cash: Salary advance/cash loans transferred to bank anytime instantly
    • Short duration: Cash loans from 7 days up to 30 days for the first loans and repeat customers can get longer tenure loans also.
    • Instant Transactions: From Rs. 8,000 to Rs. 2 Lacs cash transferred to the customer’s bank account
    • Shop now and pay later - ability to use the loan limit to shop online on credit.
    About the Senior Management

    Akshay Mehrotra, CEO: Previously served as the Chief Marketing Officer at Big Bazaar, Future Retail Limited. Also worked as CMO at PolicyBazaar.com and Marketing Head at Bajaj Allianz Life Insurance.

    Ashish Goyal, CFO: A chartered accountant by education and previously served as the Chief Investment Officer at Bajaj Allianz General Insurance.

    Vimal Saboo, CBO: Previously served as the Business Head of Edelweiss Capital and also served in senior roles at Axis Bank.

    Vivek Jain, CTO: Previously served as the Principal Technology Architect at Infosys.

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    Business Wire India

    • Offers exclusive services to both Defence personnel and pensioners
    • Renews MoU with Indian Army
    The Indian Army renewed its MOU with Axis Bank, to offer 'Power Salute', a salary account, exclusively designed for the Army personnel. To reinforce its commitment towards providing best in class Banking services to this customer segment, the bank will continue to offer customized solutions to address the requirements of the Army personnel.
     
    The MOU signing ceremony was presided by Lt Gen SK Saini, AVSM, YSM, VSM, DG (MP&PS) of the Indian Army and was attended by Mr. Sanjay Silas, President & Head Branch Banking, Axis Bank and other senior officials from the Bank.
     
    Speaking on the occasion, Mr. Sanjay Silas, President & Head Branch Banking, Axis Bank, said, “Axis Bank is proud to be of service to the Indian Armed Forces and we will continue to offer special and exclusive Banking services for the Defence personnel and their families.”
     
    In addition to the core banking services, the bank will also offer special services like zero balance and joint account features of Rs.30 lac for personal accidental cover, upto Rs. 30 lac for partial and total permanent disability cover, Rs. 2 lac of education benefit for wards of defence personnel (in case of accidental death of Defence personnel) and zero processing fees on Home Loan, Personal Loan and Auto Loan. The benefits of the MoU will cover both serving Defence personnel as well Defence pensioners.
     
    Axis Bank has also launched an exclusive toll free helpline number 1800 4198 007 to serve the Uniformed Forces.

    About Axis Bank
     
    Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 3,589 domestic branches (including extension counters) and 13,977 ATMs across the country as on 31st December 2017, the network of Axis Bank spreads across 1,946 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has ten overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo; representative offices at Dubai, Abu Dhabi, Sharjah and Dhaka and an overseas subsidiary at London, UK. The Bank’s website www.axisbank.com offers comprehensive details about its products and services.

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    Business Wire IndiaBajaj Finserv, through its lending arm, Bajaj Finance Ltd., has announced a new feature hybrid flexi option that offer a flexibility to pay interest as EMI on Home Loan for the initial tenor. Customer can enjoy the advantage of up to four years of holiday of not paying the principal amount helping them manage their finances better. After this period the customers need to pay both the principal and interest but only on the amount utilized. Customer planning to buy a bigger house can avail this facility as they save on EMI for the initial tenor of the home loan.   
     
    The Bajaj Finserv Home Loan with the hybrid flexi loan facilities can be availed by customers below 50-years for home loans of any value. This facility is available for ready to occupy properties and for refinancing of existing home loans with flexible tenors ranging up to 25 years, to fit individual’s repayment capacity. Additionally, Bajaj Finserv offers its customers an additional loan amount exclusively for furnishings & fixtures of home, making this a lucrative home loan option available in the market.
     
    The Bajaj Finserv Home Loan also allows the customers to repay the principal amount using dropline repayment schedule. Furthermore, the customer can part pay, withdraw and even foreclose the loan amount without any additional charges or any pre-payment penalty.
     
    An illustrative example:

    A customer who takes the Bajaj Finserv Home Loan with the hybrid flexi loan facility for an amount of Rs. 50 lakh for a tenor of 20 years needs to pay only the interest as an EMI for the initial four years enjoying a principal holiday during this period. During this period, if Rs. 10 lakh is availed during principal moratorium period out of the Rs. 50 lakh loan limit, loan limit will still be Rs. 50 lakh. From the fifth year onwards, the repayment schedule converts into a flexi-term loan, for the balance 16 years. During this 16-years, the withdrawal limit reduces each month till the approved loan amount reduces to zero at the end of the loan tenor.
     

    Loan Type Term Loan Hybrid Flexi
    Loan Amount 50,00,000 50,00,000
    Interest rate 8.40% 8.40%
    Tenor 240months 240months
    EMI 43075 35000 (Interest as EMI, for initial 48 months)
    This is for illustration purpose only.
    About Bajaj Finance Ltd.

    Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 21 million customers across the country. Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Personal Loans, Loan against Property, Small Business Loans, Home Loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Re-Financing Loans. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today.

    To know more, please visit: https://www.bajajfinserv.in

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    Business Wire India

    Bank of America reported its first-quarter 2018 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180416005642/en/

     


    Investor Conference Call information

     

    Chief Executive Officer Brian Moynihan and Chief Financial Officer Paul Donofrio will discuss the financial results in a conference call at 8:30 a.m. ET today. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is 79795.

     

    Please dial in 10 minutes prior to the start of the call. Investors can also listen to a live audio webcast of the conference call and view the presentation slides by visiting the Events & Presentations section of the company’s Investor Relations website.

     

    Replay information for Investor Conference Call

     

    Investors can access replays of the conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from noon on April 16, through 11:59 p.m. ET on April 23.

     

    Bank of America
    Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,400 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 36 million active users, including approximately 25 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE:BAC) is listed on the New York Stock Exchange.

     

    For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom at http://newsroom.bankofamerica.com.

     

    www.bankofamerica.com

     

     
    MULTIMEDIA AVAILABLE :
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    Business Wire IndiaRBI credit policy was in tandem with market expectations in terms of maintaining status quo on policy rates. However, the standout factor which made the policy review eventful was the sharp reduction in inflation forecast for FY 2018 – 19.
     
    Though the stance on policy rate was as anticipated by everyone because of the government’s assertion that both the fiscal deficit and revenue shortfall in FY 2018 – 19 would be lower than the revised budget estimates and the market borrowing would only be ₹ 2.88 lakh crore in the first half of the financial year 2018 – 19 when compared to the previous financial year.
     
    Falling food inflation and the stabilising Consumer Price Index (CPI) was hinting at lower inflation as far as first half of FY 2018 – 19 is concerned but the way RBI has brought down the forecast of inflation for the full financial year 2018 – 19, there are clear hints that there would be a long pause in RBI policy rate and there would not be any raise in the key rates at least for this calendar year.
     
    However, there are three key uncertainties which remain the focal point of all the discussions – fiscal deficit in FY 2018 – 19, Food Inflation which might happen in the second half of the financial year and the pace of normalization of US monetary policy. But today’s RBI policy should surely soothe the nerves of investors across the Indian economy in an immediate sense.
     
    Talking in particular about the real estate sector, reduction in lending rate allows the sentiments in real estate to improve as the net cost on the buyer for the housing unit gets decreased but with the market inflation not coming below the medium-term target and potential trade wars among more advanced economies of the world, the apex bank would have been compelled to maintain the status quo. Even though the apex bank has kept the rates unchanged, but we still believe that there is room for financial institutions to cut down on their lending rates for their customers.
     
    Also, as we have just begun with the financial year, a rate cut today would have allowed potential buyers to plan better for their investments in the property market for the current financial year. A rate cut of 25 bps could have helped ease the pressure off the market which has been balancing itself for over 6 months now. However, with no change offered in this monetary policy review, we expect the market to run with only a static demand in the short run.
    About the Author
     
    The author of this article, Harvinder Sikka is the MD of real estate major Sikka Group which has projects in multiple cities of North India. He is a successful entrepreneur and has been an inspiration for many with over two decades of experience in the field of real estate. He has been managing projects with utmost sincerity and with the ultimate commitment of delivering on the promises that Sikka Group makes to its customers.

    About the company
     
    For a period of almost three decades now, Sikka Group has been pushing the boundaries to create spaces that are unrivalled in luxury, stature and design. With a futuristic vision & a sound knowledge base of the global business environment the group heads towards excellence. Over the years, Sikka Group has completed a series of real estate projects not just in the Delhi NCR region but also in the leading regions like Dehradun and Moradabad.Sikka Group is a distinguished business entity in the industry of automobiles and hospitality sector, the conglomerate is in the process of developing & operating 5-star hotels, service apartments, business & boutique hotels under its wings.

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    Business Wire IndiaTala, the leading global technology company committed to financial inclusion, will bring its popular consumer lending app to India.
     
    The expansion was announced along with a new $50 million Series C investment led by Revolution Growth to scale up the success already in progress. Tala has also recently raised an additional $15 million to power its loan book. The round brings Tala’s total financing to more than $105 million.
     
    Tala, which launched Kenya’s first smartphone-based lending app in 2014, has grown significantly in the last year, expanding to Tanzania, the Philippines, and Mexico. Through its mobile platform, Tala has delivered more than 6 million loans to nearly 1.3 million customers and originated more than $300 million. The popular app is currently number 3 in the Google Play Store in Kenya.
     
    The timing is opportune as the digital lending space in India is still nascent but with huge potential as the government pushes for greater financial inclusion using digital technology.
     
    “We are excited to bring our globally proven, customer-driven product to India, where there is high demand for consumer credit and a significant underserved population. Tala’s speed, fully automated borrowing experience, and empathetic customer service will be an advantage in a fast-growing sector,” said Tala’s founder and CEO, Shivani Siroya.
     
    “With more than 3 billion underserved consumers globally, Tala’s ultimate aim is to leverage mobile technology and data science to put more people in control of their financial lives and build a better, more equitable financial system,” she further added.
     
    Mobile technology and data science to advance financial inclusion
     
    Tala’s proprietary credit scoring technologies use machine learning to process thousands of alternative data points from a customer’s mobile device, including texts and calls, merchant transactions, app usage, and personal identifiers. These signals serve as a proxy for traditional financial data, helping Tala expand credit access to customers with little or no formal financial history. Tala requires no collateral. Applicants need only download the app and grant Tala access to key pieces of data on their Android smartphone.
     
    Tala disburses loans between $10 and $500 USD to a mobile wallet or via payment rails of the customer’s choosing. More than 85% of Tala’s customers receive credit in less than 10 minutes.
     
    “Tala is committed to putting our customers first at every interaction,” said Siroya. “From first download to final repayment, our app enables greater financial access, choice, and control. A transaction like this requires radical trust between Tala and the borrower—on one hand, we are absorbing the risk of a default; from the customer’s side, they are trusting us with important information.”
     
    With new offices in Mumbai and Bangalore, the company is currently building out its local team and product testing with a small segment of customers in order to adapt its app to the India marketplace. Learnings from this pilot, combined with Tala's expertise and proven success scaling in emerging markets around the world, are laying the groundwork for a full launch in India later this year.
     
    Leading investment to power global growth
     
    In addition to Revolution Growth, Tala’s Series C round includes existing investors IVP, Data Collective, Lowercase Capital, Ribbit Capital, and Female Founders Fund. Steve Murray, managing partner at Revolution Growth, will join Tala’s board of directors.
     
    “We are excited about how Tala is using mobile devices and data-science to unlock this huge unmet opportunity and serve a market that is underserved by traditional financial institutions,” said Steve Murray, Managing Partner at Revolution Growth. “Under Shivani’s vision and leadership, the company has grown to become one of the leading mobile-first lenders in emerging markets and is enabling millions of customers with no credit history to start businesses and participate in the global economy.”
     
    “We couldn’t ask for a better partner in Revolution, who shares our commitment to bringing investment and opportunity to underserved communities,” said Siroya. “We are thrilled to welcome Steve Murray to our phenomenal team of investors and advisors as Tala enters this next phase of growth.”
     
    A mission-driven global team
     
    Tala was founded in 2012 by Siroya, who grew up in India and the United States and has a background in global health, microfinance, and investment banking, including with the United Nations Population Fund, Health Net, Citigroup and UBS. She started the company after doing 3500 interviews with microfinance borrowers in Southeast Asia and Sub-Saharan Africa, where she became frustrated by the lack of access to flexible capital and financial services.
     
    Eventually, Siroya saw how alternative data could help prove the potential of these underbanked individuals while also enabling financial providers to design products specifically for them.
     
    “This is data that would not be found on a paper trail or in any formal financial record,” said Siroya in a TED talk in 2016. “But it proves trust. By looking beyond income, we can see that people in emerging markets that may seem risky and unpredictable on the surface are actually willing and have the capacity to repay. ”
     
    Siroya is building out Tala’s global executive team. Late last year, Kevin Novak, formerly head of data science at Uber, joined as the company’s first Chief Data Officer. In March, Tala added a new VP of Market Growth, Anay Shah, formerly an early employee at Remitly, where he helped launch 11 new markets as Head of Partnerships and ran growth for their largest market as Regional Director. In addition to Siroya, Novak, and Shah, Tala’s leadership includes CTO Johnny Lee, whose previous company was sold to Apple in 2014; and VP of Credit Gaurav Bhargava, who led analytical and product teams to develop cutting edge infrastructure focused on digital banking at Capital One.
     
    Tala has more than 215 employees across offices in Santa Monica, Nairobi, Dar Es Salaam, Manila, Mexico City, Mumbai, and Bangalore.
    https://www.ted.com/talks/shivani_siroya_a_smart_loan_for_people_with_no_credit_history_yet
    About Tala
     
    Tala is the leading mobile technology and data science company committed to financial inclusion globally. More than 1.3 million people have borrowed through Tala’s smartphone app, which provides instant credit scoring, lending, and other personalized financial services in emerging markets. Tala has raised more than $105 million from leading venture and impact investors including Revolution, IVP, Ribbit Capital, Data Collective, Lowercase Capital, and Female Founders Fund. Tala is headquartered in Santa Monica with additional offices in Nairobi, Manila, Dar Es Salaam, Mexico City, Mumbai, and Bangalore.

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    Business Wire IndiaFSS, a Payments and Fintech leader, announced the launch of Paynalytix-As-a-Service at Seamless Middle East, the region’s premier industry event in Dubai. FSS Paynalytix-As-a Service brings multi-source, multi-format data together in the cloud and helps banks harness the value of their data for improved business outcomes.
     
    With the growth of digital payments, banks have a plethora of data available from an increasing number of digital payment sources including issuance and acquiring systems. FSS Paynalytix-As-a-Service leverages Paynalytix, an advanced big-data platform to help banks efficiently model performance along multiple business and operational dimensions. The solution synthesizes data from the Switch and multiple payment applications including Mobile Banking, Internet Banking, Card Management Systems, ATM Monitoring Systems, Payment Reconciliation Systems, Payment Gateways and POS to generate actionable insights for maximizing revenues as well as driving operational efficiencies.
     
    Intuitive data visualization dashboards provide on-demand access to insights to a range of authorized end users, making it easy for various business units within financial institutions to analyze operational performance, fraudulent transactions, channel profitability and the end-customer experience.
     
    Speaking on the launch, Suresh Rajagopalan, President Software Products, stated, “In an age of payments disruption, analytics is at the core of innovation and differentiation. FSS Paynalytix-As-a-Service helps banks achieve success by bringing a culture of data-driven decisioning at scale. By exploiting vast underutilized repositories of transaction data, we can help banks carve new business models and services and transform their go-to-market approach.”
     
    FSS Paynalytix-As-a-Service offers pre-built applications to help banks accelerate time-to-value. These include:

    • Customer Analytics: Analyses structured and unstructured cross-channel customer data (in-store, ATM, online, mobile, social) to infer and predict customer journeys and transaction patterns. This helps to optimize product performance, launch new product offerings as well as deliver real-time customer incentives and relationship pricing
    • Merchant Analytics: Acquirers can exploit transaction trend data to improve the quality and profitability of merchant portfolio. For example, acquirers can glean transaction patterns across merchant categories, instrument type and interchanges. This can help in scoring individual merchants based on transaction recency, frequency and monetary value, which in turn can inform strategies related to acquisition, promotions, pricing and retention.
    •  Risk Analytics: Uses automated machine learning to identify risk patterns and continually hone risk control framework as well as proactively preempt potential threats
    • Operational Analytics: Captures and analyzes real-time information on ATM networks, enabling banks to predict cash utilization and reduce cash outages, improving uptime and the first fix-rate to predict future maintenance needs
    FSS’ Paynalytix-As-a-Service platform is available on an outcome-based ‘pay-per-insight' cloud delivery model. Banks can use pre-built applications or leverage FSS expertise in Payments and Big Data to develop new applications over the platform.
    About FSS

    Financial Software and Systems (FSS) is a leader in payments technology and transaction processing, offering a diversified portfolio of software products, hosted payment services and software services built over 25 years of comprehensive experience across payments spectrum.
     
    FSS, through its innovative products and services, caters to the wholesale and retail payments initiatives of leading banks, financial institutions, processors, merchants, governments and regulatory bodies. Its end-to-end payments suite powers retail delivery channels such as ATM, POS, Internet, Mobile and Financial Inclusion as well as critical back-end functions such as cards management, reconciliation, settlement, merchant management and device monitoring.
     
    Headquartered in Chennai, India, the company services 100+ customers across the globe, which include leading public and private sector banks in India and some of the large Banks, FIs, Processors and Prepaid Card issuers are customers of FSS across North America, UK/Europe, ME/Africa and APAC and has a team of over 2500 experts serving the clients across the globe.​

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    Business Wire India

    Harbour Energy, Ltd. (“Harbour’’) announced that David D. Powell has joined the organization as Chief Financial Officer. Mr. Powell is a seasoned oil and gas executive with global operating experience, who has built and managed finance, IT, and supply chain organizations worldwide, led post-acquisition integration activities, and has expertise in both operational transformation as well as long-term business strategy. He will be based in Harbour Energy’s Houston offices, and will have a global span of responsibilities in his new role.

     

    Linda Z. Cook, the Chief Executive Officer of Harbour Energy, said, “Having closed our major transaction in the North Sea late last year followed by the recent announcement regarding progress with the potential acquisition of Santos Ltd, these are exciting times for Harbour Energy. Given David’s many years of experience as an international oil & gas CFO, he will undoubtedly contribute immensely to the continued execution of our strategy. We welcome him to the team.”

     

    David D. Powell said, “I look forward to working with Linda and the others in Harbour Energy and throughout EIG, and to playing a role in the continued development of this new, global independent oil & gas company.”

     

    Mr. Powell’s previous roles include CFO for Cobalt International Energy and CFO of the petroleum unit of BHP Billiton. Prior to joining BHP, he spent over 28 years in various roles at Occidental Oil & Gas Corporation, based throughout the US, Qatar, Malaysia, Russia and Argentina. He graduated Summa Cum Laude from William Jewell College, completed an advanced management program at Harvard Business School, and has a Certified Public Accountant certificate.

     

    About Harbour Energy

     

    Harbour is a global oil & gas company founded by EIG Global Energy Partners (“EIG”). Different from typical private equity backed companies, Harbour is funded with permanent capital and has the objective to build a global portfolio of successful, growing, long term oil & gas businesses. Harbour’s first transaction – the acquisition of a US$3.0 billion package of producing assets in the U.K. North Sea – was completed in 2017. EIG specializes in private investments in energy and energy-related infrastructure. Since 1982, EIG has invested over US$25.3 billion in more than 320 portfolio investments across 36 countries on six continents.

     

    Further information on Harbour can be found at www.harbourenergy.com.

     

    Further information on EIG can be found at www.eigpartners.com.

     

    Important Disclaimer:

     

    Certain information contained herein constitutes "forward-looking statements," which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” project,” “potential,” “estimate,” “intend,” “continue” or “believe,” or the negatives thereof or other variations thereon.Because of various risks and uncertainties, actual events or results or actual performance may differ materially from the events, results or performance reflected or contemplated in such forward-looking statements.As a result, investors should not rely on such forward-looking statements.

     

     

     

     

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    Business Wire India

    • Bajaj Finserv EMI Store offers products on ‘No cost EMI’ option
    • Hyper-local model that will offer same day delivery
    Bajaj Finance Ltd the lending arm of Bajaj Finserv has announced exciting offers for all its customer shopping on Bajaj Finserv EMI Store. The portal is offering products like smartphones, TVs and air conditioners on zero down payment and payment through No cost EMI option on the online EMI store. These offers are available till April 30th and can be availed by the existing Bajaj Finserv EMI Card user.
     
    Bajaj Finserv EMI card users can log on to the website to check daily offers. The customer can choose the products of the leading brands like LG, Samsung, Nokia, Lloyd, Oppo, Vivo, Hitachi etc. The EMI on refrigerator start at Rs. 900, EMI of smartphones start from Rs. 1000 and on AC the EMI starts at Rs. 2000.
     
    Bajaj Finserv EMI store is first of its kind portal that enables customers to view offers in their city and shop from the gamut of products offered by the retailers. The store also promises 4 hours delivery for a selection of products. Company has created this unique eco-system that aims to provide faster access of products to its customer along with easy payment options. Bajaj Finserv EMI Store offers variety of products from categories like Smartphones, Laptops, Tablets, ACs, Microwave ovens, Televisions, Washing Machines and Refrigerators. Company currently has a network of 30,000 retailers across the country that offers No Cost EMI option.
     
    Purchasing products through Bajaj Finserv EMI Store is a convenient process. Customer needs to visit EMI Store website, choose a product from the preferred dealer and select the EMI scheme. The chosen product needs to be added to the cart for making the purchase. The customer can then login by using their EMI Card credentials like registered mobile number or Customer ID to complete the purchase. The product will be delivered to customers’ doorstep within 24 hours of the purchase, while for selected products the delivery is as fast as 4 hours.

    For more details on EMI store, please visit: https://bajajfinservemistore.in/
    About Bajaj Finance Ltd.

    Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country. Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits and Advisory Services. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today.

    To know more, please visit: https://www.bajajfinserv.in

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    Business Wire India

    The dashboard of the ANGEL BEE app by Angel Broking
    The dashboard of the ANGEL BEE app by Angel Broking

    Angel Broking, India’s retail focused investing powerhouse, is introducing ANGEL BEE with the aim to transform the investments space with not only smart but personalized technology-led financial solutions. Powered by ARQ, the company’s flagship hyper-intelligent expertise, ANGEL BEE is a testament to the firm’s dominion in harnessing technology effectively.

    The new age consumer is on the prowl for intelligent investment resolutions that best suit his financial objectives. With this foresight in mind, Angel Broking launched ‘ANGEL BEE’, presenting to the evolved and perceptive India, ‘The New Way to Get Rich’ effortlessly. The app intents to expose millennials to unparalleled financial advice, without any expenses incurred at their part.

    ANGEL BEE is a product of the seamless integration of artificial intelligence and data analytics that provides the consumer with personalized expert advice with smart solutions. The app provides the consumer best mutual fund recommendations, tax saving, goal setting, portfolio management, and aids in expense tracking, as well. Since the entire process is paperless and all information is available at the consumer’s fingertips, it ensures minimal to zero hassles for the consumer to keep a track of the investments he/she has made. Additionally, the portfolio can be accessed by the individual at any given time.

    Addressing on the significance of ANGEL BEE launch, Mr. Vinay Agrawal, CEO said that, “The financial world is on the cusp of a major revolution backed by technology wherein all firms are vying to add value to the services they offer. The needle has been shifting from FinTech to TechFin wherein one can witness the increasing adoption of financial services by technology firms, to reach out the new dynamic consumers. Continuing with this momentum, ANGEL BEE syncs right with our vision of achieving a digital equity cult amongst the millennials and pioneering a new disciplined yet effortless way of investing.”

    All the information shared with the ANGEL BEE is protected by an extensive cyber-security system in place. It is available on the Android Play Store and the Apple App Store.About Angel Broking Private Limited

    Angel Broking Pvt. Ltd. a stock investing powerhouse with a focus on retail business; committed to provide “real value for money” to its clients. Angel Broking Group is a member of BSE and NSE and also the country’s two leading commodity exchanges, NCDEX and MCX. It is a technology led investment powerhouse that provides a wide range of personalized wealth-management and investment services to its retail clients through platforms like Angel Broking App - an award winning investment app empowered by AI advisory engine - ARQ, first of its kind in India. Angel Broking, with its intensive research and a six sigma-backed Quality Assurance program, is a purveyor of all multifarious services such as Stock and Commodity Trading, Portfolio Advisory and Management Services, Investment
     
    Advisory Services, Distribution of Mutual Funds, IPOs, Personal Loans and Insurance, as well as E-broking & Depository services. It provides value-added services to over 1 million individual retail investors through its nationwide network of 100 branches, including 2 regional hubs, over 12,000 registered sub-brokers/business associates and all India strength of 3000 employees. Angel Broking has one of the largest trading terminal bases (almost 11,000 terminals) in the country, and the largest sub-broker network on the NSE, clocking one of the largest volumes in the industry. Listed as one of the company’s shareholders is International Finance Corporation (IFC), the private investment arm of the World Bank.

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    Business Wire IndiaFixed deposits (FD) have been the preferred mode of investment in India since last many years. They are so popular that whenever someone thinks about various avenues where they can invest their savings, fixed deposits are the first to come to mind. FD’s are a standard financial product offered by most of the financial institutions and are also known as Term Deposits. They are easy to operate, assured guaranteed returns and are free from market volatility.

    Due to the safety of investment and consistent returns, FD’s are preferred especially by Senior Citizens to plan their retirement by creating a corpus of the desired amount. Bajaj Finserv through its lending and investment arm Bajaj Finance Ltd., offers higher returns coupled with distinctive features to senior citizen.

    • Higher Rate of Interest:- Bajaj Finserv FD’s offer the highest rate of interest for senior citizens up to 8.20% p.a. which is the highest in the industry. This ensures guaranteed high returns and stable source of income for senior citizens.
    • Renewal Benefits:- When investors do not break your FD and decide to renew it for another term, Bajaj Finserv offers renewal benefits in the form of additional 0.10% of interest. Unless the need is urgent, it is beneficial to keep on renewing the FD for another term.
    • Flexibility in Tenor and Amount Invested:- Senior citizens can start investing in Bajaj Finserv FD starting from as low as Rs. 25,000/- and can choose to keep the sum invested from 12 months to 60 months. This offers much-needed flexibility to investors as they can plan their financial requirements in a better way.
    • Safety of investment: - Bajaj Finserv FD have received highest safety rating in the industry, ICRA’s MAAA (Stable) and CRISIL’s FAAA/Stable. This ensures that senior citizens will continue to receive a stable flow of income in the long run.
    The amazing benefits offered by Bajaj Finserv FD’s make them an attractive investment avenue for senior citizens looking for a risk-free investment option offering greater fund growth.

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  • 04/20/18--04:00: ABB: Profitable Growth
  • Business Wire India

    • Total orders +6%1; up in all divisions
    • Base orders +5%; up in all regions
    • Revenues +1%; impacted by lower opening backlog
    • Book-to-bill ratio2 at 1.13x
    • Operational EBITA margin2 up 20bps to 12.3%
    • Net income $572 million; up excluding the gain on the cables divestment in 2017
    • Cash flow from operating activities -$518 million; solid cash delivery for the full year expected


    ABB (SWX:ABBN):

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180418006701/en/

     

    “We started 2018 with order growth in all divisions, improved revenues and operating results. The integration of B&R is well on track and we are preparing diligently for the closing and subsequent integration of GE Industrial Solutions which we expect to happen in Q2 2018,” said ABB CEO Ulrich Spiesshofer.

     

    “We are continuing to invest in sales, R&D and our leading digital solutions portfolio ABB Ability. With our streamlined and strengthened ABB and the transition year 2017 behind us, we have our focus firmly on our customers and relentless execution,” he added.

     
                         
    KEY FIGURES                  

    CHANGE

    $ in millions, unless otherwise indicated       Q1 2018     Q1 2017     US $    

    Comparable1

    Orders       9,772     8,403     +16%     +6%
    Revenues       8,627     7,854     +10%     +1%

    Operational EBITA2

          1,060     943     +12%    

    +4%3

    as % of operational revenues       12.3%     12.1%     +0.2pts      
    Net Income       572     724    

    -21%4

         
    Basic EPS ($)       0.27     0.34    

    -21%5

         
    Operational EPS($)2       0.31     0.28     +11%5     +6%5
    Cash flow from operating activities       -518     509     n.a.      
                               


    Short-term outlook

     

    Macroeconomic signs are trending positively in Europe and the United States, with growth expected to continue in China. The overall global market is back to growth whilst still impacted by uncertainties in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company’s results.

     

    Q1 2018 Group results

     

    Orders
    Total orders rose 6 percent (16 percent in US dollars), up in all divisions in the first quarter compared with a year ago. Base orders (base orders are classified as orders below $15 million) increased 5 percent (15 percent in US dollars), reflecting growth across all regions. Large orders represented 10 percent of total orders, the same level as a year ago.

     

    Change in US dollar exchange rates versus the prior year period resulted in a positive translation impact of 7 percent on reported orders. Changes in the business portfolio related to the acquisition of B&R off-set by divestments made in 2017 had a net positive impact of 3 percent on total reported orders. The book-to-bill ratio was 1.13x compared with 1.07x in the first quarter of 2017.

     

    Total services orders grew 8 percent (15 percent in US dollars), representing 19 percent of total orders.

     

    Market overview
    Regional demand patterns were mainly positive in the first quarter:

     
    • Orders in Europe benefited from rail, specialty vessel and process industry orders. Total orders in Europe were 3 percent lower (15 percent higher in US dollars), with growth in Switzerland, Norway, Spain and Germany offset by declines in France, the UK, Finland and Sweden. Base orders rose 2 percent (21 percent in US dollars).
    • In the Americas total orders were stable (1 percent higher in US dollars), driven by increased demand from general industries and some improvement in process industries. Total orders in the United States were steady and orders from Brazil rose while order activity in Canada and Mexico was more muted. Base orders increased 1 percent (3 percent in US dollars).
    • In Asia, Middle East and Africa (AMEA) total orders increased 20 percent (30 percent in US dollars). Base orders grew 12 percent (19 percent in US dollars). Both large and base orders developed positively in China, India and the United Arab Emirates.


    In ABB’s key customer segments, the following trends were observed:

     
    • Utility customers continued to invest in grid integration, grid automation and HV products, particularly in the AMEA region.
    • In industry, ABB saw steady demand for robotics and shorter cycle products, and gained traction with power grids products such as transformers. Process industries, including oil and gas and mining, improved, with higher demand for products supported by the current commodity price outlook. Large project orders in process remained subdued. An ongoing focus on select industries such as Food & Beverage, automotive and 3C (Computers, communications and consumer electronics), proved beneficial for order momentum, particularly for robotics solutions.
    • Transport & infrastructure demand was solid, with good orders received for rail electrification. Selective investments were made by specialty vessel customers. Demand for building automation solutions remained healthy, supported by a number of innovative product launches. Data centers and electric vehicle charging orders continue to be strong.


    Revenues
    Revenues grew 1 percent (10 percent in US dollars) year on year. In the Robotics and Motion and Electrification Products divisions, revenues were well-supported by continued solid order growth. This was tempered by steady revenues in Industrial Automation and lower revenues in Power Grids due to the lower order backlog at the end of 2017 in these divisions.

     

    Service revenues were 8 percent higher (15 percent in US dollars) and represented 18 percent of total revenues, compared with 18 percent a year ago.

     

    Change in US dollar exchange rates versus the prior year period resulted in a positive translation impact on reported revenues of 7 percent. Changes in the business portfolio related to the acquisitions of B&R and the divestments made in 2017 had a net positive effect of 2 percent on total reported revenues.

     

    Operational EBITA
    Operational EBITA was $1,060 million, 4 percent higher in local currencies (12 percent in US dollars). The operational EBITA was supported by net savings and positive volume and mix, partly offset by commodity prices. ABB continued to reinvest savings in growth over the quarter. The reported operational EBITA margin for the quarter improved to 12.3 percent, an expansion of 20 basis points when compared to the prior year period.

     

    Net income, basic and operational earnings per share
    Net income was $572 million, 21 percent lower in US dollars. Excluding non-operating items, which in the first quarter of 2017 included a gain from the divestment of the cables business, ABB’s operational net income2 was $669 million, an increase of 10 percent in US dollars. Basic earnings per share of $0.27 was 21 percent lower compared with the first quarter of 2017. Operational earnings per share of $0.31 was 11 percent higher, and 6 percent higher in constant currency terms5.

     

    Cash flow from operating activities
    Cash flow from operating activities was -$518 million, compared to $509 million in the prior year period. The lower outcome relative to a year ago was mainly driven by the timing of employee incentive payments, which in 2017 were paid in the second quarter, timing of cash flows for large projects, payables and receivables, as well as the timing of tax payments. ABB expects strong cash flow from operating activities in the second quarter and solid cash delivery for the full year.

     
                                                       

    Q1 divisional performance

                                                       
    ($ in millions, unless otherwise indicated)      

    Orders

        CHANGE    

    3rd party
    base orders

        CHANGE    

    Revenues

        CHANGE    

    Op EBITA %

       

    CHANGE

             

    US$

       

    Compa-
    rable1

           

    US$

       

    Compa-
    rable1

           

    US$

       

    Compa-

     

    rable1

           
    Power Grids       2,480     +7%     +1%     1,992     +13%     +7%     2,385     +1%     -4%     9.7%     -0.2pts
    Electrification Products       2,786     +10%     +3%     2,647     +12%     +5%     2,494     +9%     +2%     15.2%     +1.1pts
    Industrial Automation       2,117     +26%     +4%     1,787     +24%     +0%     1,859     +23%     0%     14.1%     +0.4pts
    Robotics and Motion       2,579     +18%     +11%     2,313     +16%     +9%     2,209     +15%     +8%     15.3%     +0.5pts
    Corporate & other (incl. inter-division elimination)       -190                 12                 -320                        
    ABB Group       9,772     +16%     +6%     8,751     +15%     +5%     8,627     +10%     +1%     12.3%     +0.2pts
    Effective January 1, 2018, management responsibility and oversight of certain remaining engineering, procurement and construction (EPC) business, previously included in the Power Grids, Industrial Automation, Robotics and Motion operating segments, were transferred to a new non-core operating business within Corporate and Other. Previously reported amounts have been reclassified consistent with this new structure.
     

    Power Grids
    Third-party base order momentum continued, increasing 7 percent (13 percent in US dollars). Service orders also grew, contributing to total order growth of 1 percent (7 percent in US dollars). The division booked several large orders which partially offset a tough comparable from the prior year, which included a very large order for an HVDC link between the UK and France. Revenues were 4 percent lower (1 percent higher in US dollars) impacted by the lower order backlog at the end of 2017. The operational EBITA margin of 9.7 percent for the quarter was 20 basis points lower year-on-year, reflecting lower revenue and mix effects in addition to ongoing investment in the division’s Power Up transformation initiatives.

     

    Electrification Products
    Total orders improved 3 percent (10 percent in US dollars) and third-party base orders rose 5 percent (12 percent in US dollars), despite two fewer working days in certain key markets during the quarter. Revenues increased 2 percent (9 percent in US dollars) compared to the same period in 2017. Operational EBITA increased 6 percent, with the margin expanding 110 basis points year on year to 15.2 percent, driven mainly by volume growth, pricing improvements and sustained cost control.

     

    Industrial Automation
    Total orders improved 4 percent on a comparable basis driven by service and selective investment for mining and specialty marine vessel solutions. Third-party base orders were steady in the quarter from the high level in the first quarter of 2017. Including B&R and currency effects, total order growth was 26 percent and third-party base order growth was 24 percent compared to the prior year period. Revenues reflect strong base business performance which mitigated the order backlog in the quarter. The operational EBITA margin of 14.1 percent, up 40 basis points, improved primarily due to positive mix, successful project execution and cost savings.

     

    Robotics and Motion
    Order growth was reported across all segments and regions in the quarter. Total orders increased 11 percent (18 percent in US dollars) and third-party base orders improved 9 percent (16 percent in US dollars). Revenues increased 8 percent (15 percent in US dollars) on strong execution of the order backlog. Operational EBITA margin was 15.3 percent, up 50 basis points year on year. Improved volumes and mix were aided by focused growth efforts and stronger markets, which in turnimprovedunder-absorption along with better cost control.

     

    Next Level strategy

     

    ABB has been executing its Next Level strategy since 2014 through the three focus areas of profitable growth, relentless execution and business-led collaboration. During this time ABB has transitioned its portfolio and operations into a market-orientated, focused, leaner company. ABB today offers two clear value propositions, bringing electricity from any power plant to any plug and automating industries from natural resources to finished products. ABB is driving profitable growth through four entrepreneurial divisions, continuing to invest in sales, R&D and its leading digital solutions portfolio, ABB Ability™. ABB’s operating model puts the focus of ABB’s divisions firmly on operational execution, with stronger links between compensation and delivery of operational performance. Along with improving market dynamics, ABB is better positioned in a better market.

     

    Profitable growth
    As part of the drive towards profitable growth ABB continues to expand its ABB Ability™ solutions portfolio, which currently includes more than 210 ABB Ability™ solutions. During the quarter, ABB secured multiple new orders utilizing ABB Ability™ solutions including an order to upgrade two critical HVDC links in Australia and an order from the City of Trondheim in Norway for an electric vehicle charging solution.

     

    ABB aims to create value through ongoing portfolio management. The integration of B&R into ABB’s Industrial Automation division to form its global Machine & Factory Automation business unit is now well advanced and on track to increase mid-term revenues in the business unit to a target of more than $1 billion. Building on the integration of B&R, ABB has announced a €100 million investment to build a state-of-the-art research center in Eggelsberg, Austria. The new campus will go into operation during 2020.

     

    Work to secure regulatory approvals to acquire GE Industrial Solutions (GE-IS) continues and the transaction is on track to close by the end of the second quarter.

     

    Relentless execution
    Further to the completion of the business model change for EPC a Non-Core business unit has been established within Corporate & Other effective January 1, 2018, reporting directly to the CFO to manage the resolution of remaining EPC activities.

     

    ABB is building on the achievements of the 1,000-day programs that were completed at the end of 2017 with a continued strong focus on Supply Chain Management and Operations Quality. The group continues to deliver net cost savings, outpacing commodity effects and supporting the group’s ongoing aim of offsetting three to five per cent of the group’s cost of sales each year. The group efforts on quality and operations continue with a focus on world-class efficiency and effectiveness across ABB, including supporting ABB’s divisions to implement the extensive program of Lean Six Sigma projects under way across ABB.

     

    Business-led collaboration
    ABB continues to strengthen its brand. Effective March 1, 2018, ABB integrated Baldor Electric Company into its global ABB brand as part of the strategy to create a unified brand.

     

    In January, ABB announced a ground breaking partnership agreement with the Formula E electric car motor racing series, now known as the “ABB FIA Formula E Championship”. Formula E serves as a competitive platform to develop and test e-mobility-relevant electrification and digitalization technologies.

     

    Bond issuance
    To maintain the efficiency of its capital funding structure, ABB closed a $1.5 billion bond issue in the United States on April 3, 2018, consisting of three tranches with maturities of 2, 5 and 10 years. Net proceeds of the issue are planned to be used for general corporate purposes, including the funding of the GE-IS transaction.

     

    Short- and long-term outlook

     

    Macroeconomic signs are trending positively in Europe and the United States, with growth expected to continue in China. The overall global market is back to growth whilst still impacted by uncertainties in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company’s results.

     

    The attractive long-term demand outlook in ABB’s three major customer sectors – utilities, industry and transport & infrastructure – is driven by the Energy and Fourth Industrial Revolutions. ABB is well-positioned to tap into these opportunities for long-term profitable growth with its strong market presence, broad geographic and business scope, technology leadership and financial strength.

     

    More information
    The Q1 2018 results press release and presentation slides are available on the ABB News Center at www.abb.com/news and on the Investor Relations homepage at www.abb.com/investorrelations.

     

    ABB will host a media call today starting at 10:00 a.m. Central European Time (CET) (9:00 a.m. BST, 4:00 a.m. EDT). The event will be accessible by conference call. The media conference call dial-in numbers are:
    UK +44 207 107 0613
    Sweden +46 85 051 00 31
    Rest of Europe, +41 58 310 50 00
    US and Canada +1 866 291 41 66 (toll-free) or +1 631 570 56 13 (long-distance charges)
    Lines will be open 10-15 minutes before the start of the call.

     

    A conference call and webcast for analysts and investors is scheduled to begin today at 2:00 p.m. CET (1:00 p.m. BST, 8:00 a.m. EDT). Callers are requested to phone in 10 minutes before the start of the call. The analyst and investor conference call dial-in numbers are:
    UK +44 207 107 0613
    Sweden +46 85 051 00 31
    Rest of Europe, +41 58 310 50 00
    US and Canada +1 866 291 41 66 (toll-free) or +1 631 570 56 13 (long-distance charges)

     

    The call will also be accessible on the ABB website at: http://new.abb.com/investorrelations/first-quarter-2018-results-webcast. A recorded session will be available as a podcast one hour after the end of the conference call and can be downloaded from our website.

     

    ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing a history of innovation spanning more than 130 years, ABB today is writing the future of industrial digitalization with two clear value propositions: bringing electricity from any power plant to any plug and automating industries from natural resources to finished products. As title partner of Formula E, the fully electric international FIA motorsport class, ABB is pushing the boundaries of e-mobility to contribute to a sustainable future. ABB operates in more than 100 countries with about 135,000 employees. www.abb.com

     
             
    INVESTOR CALENDAR 2018/2019
    Second quarter 2018 results       July 19, 2018
    Third quarter 2018 results       October 25, 2018
    Fourth quarter and full year 2018 results       February 2019
             

    Important notice about forward-looking information
    This press release includes forward-looking information and statements as well as other statements concerning the outlook for our business, including those in the sections of this release titled “Short-term outlook”, “Next Level strategy” and “Short- and long-term outlook”. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including global economic conditions, the economic conditions of the regions and industries that are major markets for ABB Ltd. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects,” “believes,” “estimates,” “targets,” “plans,” “is likely”, “intends”, “is on track” or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets. The important factors that could cause such differences include, among others, business risks associated with the volatile global economic environment and political conditions, costs associated with compliance activities, market acceptance of new products and services, changes in governmental regulations and currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.

     

    Zurich, April 19, 2018
    Ulrich Spiesshofer, CEO

     
     

    1 Growth rates for orders, base orders and revenues are on a comparable basis (local currency adjusted for acquisitions and divestitures). US$ growth rates are presented in Key Figures table.

    2 For non-GAAP measures, see the “Supplemental Financial Information” attachment to the press release.
    3 Constant currency (not adjusted for portfolio changes).
    4 Operational net income +10% year on year at $669 million in Q1 2018 compared to $607 million in prior year period.
    5 EPS growth rates are computed using unrounded amounts. Comparable operational earnings per share is in constant currency (2014 exchange rates not adjusted for changes in the business portfolio).
     

    ABB's CEO Ulrich Spiesshofer outlines the company's performance in the first quarter of 2018.

     

     
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    Loomis, Sayles & Company announced  that Kathleen Bochman has been appointed director of ESG (environmental, social and governance). In this newly established role, Kathleen is responsible for continuing to increase awareness of ESG principles among Loomis Sayles investment teams and partnering with teams to identify how ESG considerations may be further incorporated into their unique investment processes. Kathleen will report to David Waldman, deputy chief investment officer.

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180417006414/en/

     
    Kathleen Bochman, director of ESG at Loomis, Sayles & Company (Photo: Business Wire)

    Kathleen Bochman, director of ESG at Loomis, Sayles & Company (Photo: Business Wire)

    Kathleen will lead the existing Loomis Sayles ESG Committee to provide strategic support to investment teams, conduct internal education and serve as a thought leader for the firm on material sustainability issues. In addition, Kathleen will partner with investment teams in identifying areas of engagement with companies in which they invest.

     

    “Providing superior long-term performance is at the heart of every Loomis Sayles investment strategy, and we understand the important role that ESG issues play in the global economy, financial markets and society,” said Kevin Charleston, chief executive officer. “We recognize the importance of conducting ourselves as responsible global citizens, and Kathleen’s new role further affirms our commitment to ESG considerations and their inherent role as part of our investment processes.”

     

    Loomis Sayles senior management initiated a company-wide effort to further integrate ESG considerations into every team’s investment process in 2013. Loomis Sayles became a signatory to the United Nations-supported Principles for Responsible Investment (PRI) initiative in 2015 and is a Tier 1 signatory to the UK Stewardship Code.

     

    “It is our job as leaders of the firm to ensure investment teams have access to all available macro, fundamental and quantitative research insights,” said Jae Park, chief investment officer. “We believe that ESG data is another vital tool that can be leveraged by our portfolio managers as they seek to deliver consistent, competitive returns for our clients.”

     

    For more information on Loomis Sayles’ approach to ESG issues, please click here.

     

    BIOGRAPHICAL INFORMATION: KATHLEEN M. BOCHMAN, CFA

     

    Kathleen Bochman is director of ESG at Loomis, Sayles & Company and co-portfolio manager of the large cap core product. She has 29 years of investment industry experience and joined Loomis Sayles in 2006 as global equity analyst covering the financial sector. Kathleen began her career as a consultant for Andersen Consulting, specializing in systems consulting for financial clients. Next, she moved to State Street Research & Management where she was a fixed income credit analyst, and later was named head of investment grade credit research for the firm. Kathleen then joined the Wellington Management Company as a fixed income credit analyst. Kathleen earned a BA from Dartmouth College and an MBA from Columbia University.

     

    ABOUT LOOMIS SAYLES
    Since 1926, Loomis, Sayles & Company has helped fulfill the investment needs of institutional and mutual fund clients worldwide. The firm’s performance-driven investors integrate deep proprietary research and integrated risk analysis to make informed, judicious decisions. Teams of portfolio managers, strategists, research analysts and traders collaborate to assess market sectors and identify investment opportunities wherever they may lie, within traditional asset classes or among a range of alternative investments. Loomis Sayles has the resources, foresight and the flexibility to look far and wide for value in broad and narrow markets in its commitment to deliver attractive sustainable returns for clients. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages $266.6 billion* in assets (as of March 31, 2018).

     

    *Includes the assets of Loomis, Sayles & Co., LP, and Loomis Sayles Trust Company, LLC. Loomis Sayles Trust Company is a wholly owned subsidiary of LP.

     

    ABOUT NATIXIS INVESTMENT MANAGERS
    Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered by the expertise of 26 specialized investment managers globally, we apply Active ThinkingSM to deliver proactive solutions that help clients pursue better outcomes in all markets. Natixis ranks among the world’s largest asset management firms1 (€830.8 billion / $997.8 billion AUM2).

     

    Headquartered in Paris and Boston, Natixis Investment Managers is a subsidiary of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Investment Managers’ affiliated investment management firms and distribution and service groups include Active Index Advisors®;3 AEW; AlphaSimplex Group; Axeltis; Darius Capital Partners; DNCA Investments;4 Dorval Asset Management;5 Gateway Investment Advisers; H2O Asset Management;5 Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Managed Portfolio Advisors®;3 McDonnell Investment Management; Mirova;6 Ossiam; Ostrum Asset Management; Seeyond;7 Vaughan Nelson Investment Management; Vega Investment Managers; and Natixis Private Equity Division, which includes Seventure Partners, Naxicap Partners, Alliance Entreprendre, Euro Private Equity, Caspian Private Equity and Eagle Asia Partners. Not all offerings available in all jurisdictions. For additional information, please visit the company’s website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.

     

    Natixis Investment Managers includes all of the investment management and distribution entities affiliated with Natixis Distribution, L.P. and Natixis Investment Managers S.A.

     

    1 Cerulli Quantitative Update: Global Markets 2017 ranked Natixis Investment Managers (formerly Natixis Global Asset Management) as the 15th largest asset manager in the world based on assets under management as of December 31, 2016.
    2 Net asset value as of December 31, 2017. Assets under management (“AUM”), as reported, may include notional assets, assets serviced, gross assets and other types of non-regulatory AUM.
    3 A division of Natixis Advisors, L.P.
    4 A brand of DNCA Finance.
    5 A subsidiary of Ostrum Asset Management.
    6 A subsidiary of Ostrum Asset Management. Operated in the U.S. through Ostrum Asset Management U.S., LLC.
    7 A brand of Ostrum Asset Management. Operated in the U.S. through Ostrum Asset Management U.S., LLC.

     

    MALR021678

     

     

     

     
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    Business Wire IndiaCanAm Enterprises (CanAm) is pleased to report that its Spiral Project has achieved several of its milestones last week. Pfizer, the international pharmaceutical giant, signed a 20-year lease totaling approximately 800,000 RSF, representing 29% of the building’s rentable area. Tishman Speyer has closed on a series of transactions securing all of the necessary financing for the project: a $1.8 billion construction financing from Blackstone Mortgage Trust, a publicly-traded affiliate of The Blackstone Group, and $1.9 billion equity from Tishman Speyer and various institutional, pension fund and individual investors. In addition, based on the pace of its EB-5 fundraising to date, CanAm Enterprises and Tishman Speyer have decided to prepare for closing and funding the EB-5 loan for the Spiral Project. It is anticipated that the loan closing will take place in the second quarter of 2018.
     
    CanAm’s President and CEO, Tom Rosenfeld, commented, “We have always had an excellent working relationship with Tishman Speyer and we are thrilled to be partnering with them on this iconic USCIS-approved project, which we are confident will achieve the immigration and investment goals of our EB-5 investors.”
     
    Designed by noted architectural firm Bjarke Ingels Group, the Spiral will enhance the emerging skyline in midtown Manhattan with approximately 2.8 million square feet of connected and sustainable class A office space.
     
    “Tishman Speyer is thrilled to welcome Pfizer as the anchor tenant in The Spiral, the world’s most connected and collaborative office environment,” Rob Speyer, Tishman Speyer president and CEO, said in prepared remarks. Pfizer, which is currently based in two office buildings on East 42nd Street, will relocate its global headquarters to 15 floors of The Spiral in 2022. Albert Bourla, Pfizer’s Chief Operating Officer stated in their press release, “In relocating our headquarters, we sought to provide our colleagues a modern, state-of-the-art headquarters that would foster greater collaboration and innovation in a vibrant neighborhood in Manhattan.”
     
    The $1.8 billion construction financing from Blackstone Mortgage Trust represents their largest ever single asset origination and third construction financing for Tishman Speyer. Steve Plavin, senior executive stated in their press release, “[our] ability to originate the Spiral financing is a testament to our excellent relationship with Tishman Speyer as well as the strength of the Blackstone platform and unmatched scale of our real estate business."
     
    “In addition to the important project related milestones that have been achieved, we are also excited to have reached a big EB-5 fundraising milestone. We are pleased to announce that we are in the process of preparing for the EB-5 loan closing for the Spiral project,” said Rosenfeld.
     
    The Spiral is another example of CanAm’s dedication to bringing qualifying EB-5 projects to investors. Before launching a project to the market, CanAm’s project development team selects projects that meet the requirements of the EB-5 program and structures them conservatively, knowing that our investors’ futures are at stake. CanAm’s underwriting team conducts exhaustive due diligence in order to qualify a project as a potential investment. As a third-party regional center, CanAm and its employees are committed to the highest level of integrity and transparency demanded by its immigrant investors and the EB-5 program.
    About CanAm Enterprises

    With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. Based its work on a reputation of credibility and trust, CanAm has financed more than 55 project loans and raised $2.6 billion in EB-5 investments. CanAm exclusively operates seven USCIS-designated Regional Centers that are located in the city of Philadelphia, the commonwealth of Pennsylvania, Los Angeles County, Hawaii, the New York Metropolitan Region, Florida, and Texas.
     
    For more information, please visit www.canamenterprises.com

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    • RAK to increase tourism’s GDP contribution to 10% by 2025 from 5%
    • RAK to have 1m annual visitors by end of 2018, 2.9m by 2025
    • RAK development progressing fast but seeks to attract more investment
     

    His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah has delivered the keynote opening speech on day 2 of the 3-day Arabian Hotel Investment Conference, (17 – 19 April 2018).

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180418005722/en/

     
    His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah  ...

    His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah (Photo: AETOSWire)

    Held in partnership with Ras Al Khaimah Tourism Development Authority (RAKTDA), the 14th Arabian Hotel Investment Conference 2018 (AHIC) will provide unique insights into modern leadership, forward-thinking investment and new operating models via a stellar line-up of speakers confirmed for the annual gathering for the Middle East’s hospitality investment community.

     

    Excerpt from the speech of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah:

     

    “In a relatively short period of time, Ras Al Khaimah has changed dramatically, from a quiet, agricultural town, where a formal education was hard to come by, to a thriving city with a diverse economy and great educational institutions.

     

    “Our Emirate, our people, our economy and our industries have been on quite an incredible journey.

     

    ECONOMY

     

    “In Ras Al Khaimah, if we can do something positive for business, we do it. Ask any of the 13,000 multinational companies from over 100 countries that have set up here.

     

    “Thanks to them, the volume of foreign investment in Ras Al Khaimah since 2000 has exceeded 15 billion dirhams, and there are more than 150 large industrial companies operating here.

     

    We are home to some of the world’s most successful companies, including:

     
    • RAK Ceramics, which supplies Land Rover showrooms across the globe, Emaar, Dubai Airports, Ferrari World, and many more.
    • Julphar Pharmaceuticals, which each day produces one million boxes of medicines.
    • RAK Rock and Stevin Rock, which provide a combined 75 million tons of material to the building industry across the UAE, Gulf and India every year.”


    TOURISM

     

    “We aim to increase tourism’s GDP contribution to 10% by 2025. Already, the sector has been growing at a rate of about 19% year-on-year.

     

    “We will have 1 million visitors by the end of this year in Ras Al Khaimah and we have a target of 2.9 million per year by 2025.

     

    “At Marjan Island, our tourist hub, several projects are under way but there’s scope for further development, both there and across Ras Al Khaimah, if we’re to keep up with demand.

     

    “That is why it is important that Ras Al Khaimah attracts more investors to our growing tourism sector.”

     

    TOGETHERNESS

     

    “We live in a dynamic world, where creating wealth, growth, can be good for us all. We are a family of nations.

     

    “When the UAE prospers, when Saudi Arabia prospers, Kuwait, the rest of the GCC and beyond, we all prosper. I see the growth of others as an opportunity for us, a chance to learn and make progress.

     

    “Saudi Arabia’s incredible vision for its future, we hope that it is a resounding success because that would show the world the true image of Arabs – as thinkers, developers, achievers.”

     

    Taking place at the purpose-built AHIC Village in the grounds of the Waldorf Astoria Ras Al Khaimah, UAE, this 14th edition of AHIC – the first outside Dubai - promises to address the critical issues of innovation, leadership, destination development and industry disruptors amid the macroeconomic outlook from the investors’ perspective.

     

    The event will attract close to 900 hotel investors, major developers, leading financiers, and C-level hotel executives to attend three days of content, networking and events, including live-on-stage interviews with some of the world’s most respected businessmen and hotel leaders and the first AHIC Global Project Showcase, featuring hospitality investment opportunities from around the world.

     

    *Source: AETOSWire

     

     

     

     
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    As announced at the Taipei JCB World Conference, on November 2, 2017, IDEMIA, the global leader in Augmented Identity, and JCB, the leading international payment network in Japan, have started the pilot of the first F.CODE Japanese payment card.

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180418005511/en/

     
    Photo: Idemia

    Photo: Idemia

    “F for fingerprint”: embrace the future of payments with biometrics. F.CODE takes card payments to the next level since your fingerprint replaces the PIN code and so reinforces user’s security and privacy by ensuring a unique and universal identification.

     

    F.CODE makes customers and retailers’ lives easier: no need to remember a new PIN code, your fingerprint is enough. On the retailer side, it speeds up the check-out process as well as enabling banks and governments to adopt an innovative and secure technology for the future payment experience. F.CODE will enable seamless payment transactions without compromising security.
    Recognized for its longstanding expertise and experience in biometrics and payment, IDEMIA has established a strong partnership with JCB regarding payment innovation in Japan. The two companies are proud to offer today, in close partnership with Toppan Printing for the card personalization activity, the “future of payments” to a country always eager to innovate.

     

    Pierre Barrial, Executive Vice-President of the Financial Institutions Business Unit declares: "We are really delighted to announce this first launch as part of our strong partnership with JCB. F.CODE is a unique technology that provides highly secured authentication and we are eager to implement it for the first time in Japan.”

     

    Tac Watanabe, Executive Vice President of the Brand Infrastructure & Technologies Department, adds: “As the evolution of payment technologies accelerates dramatically, JCB is committed to keep developing various capabilities that can deliver a convenient and more secure payment experience. This pilot program, through our strong partnership with IDEMIA, is to demonstrate a use case of how JCB intends to provide customers with a secure and smooth way of making payments in the future.”

     

    About IDEMIA

     

    OT-Morpho is now IDEMIA, the global leader in Augmented Identity for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment.
    Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Public Security and IoT sectors.
    OT (Oberthur Technologies) and Safran Identity & Security (Morpho) have joined forces to form IDEMIA. With close to $3 billion in revenues and 14,000 employees around the world, IDEMIA serves clients in 180 countries.
    For more information, head to www.idemia.com. And follow us @IdemiaGroup on Twitter.

     

    About JCB

     

    JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. Currently, JCB cards are accepted globally and issued in 23 countries and territories.

     

    For more information, please visit: www.global.jcb/en/

     

     

     

     
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