Tag: Funds & Equities

Dr. Marliyyah Mahmood discusses the Impact of Tech on Women in Northern Nigeria

ABUJA, NG, Jan 2, 2023 – (ACN Newswire) – Dr. Marliyyah A. Mahmood, Women In Tech and Project Manager for Startup AREWA, discusses how technology is enabling and enhancing women's empowerment in Northern Nigeria. She emphasizes some of the fundamental advantages of social media technologies, such as giving women access to a virtual environment where they may express themselves.
Dr. Marliyyah A. Mahmood, Women In Tech, Project Manager for Startup AREWA, spoke on how technology is enabling and enhancing women's empowerment in Northern Nigeria. [Image: Startup AREWA]


"It is impossible to overstate the importance of women in the growth of any nation, state, or community. This is to reiterate the critical role that women's education plays in long-term national development, which begins at home. Women are frequently observed to be the children's first teachers at home. A mother's influence on upbringing in any developing country, and the empowerment of women, has a significant impact on key developmental outcomes like health, education, reproductive patterns, income level, and other factors," said Dr Mahmood.

While a report from PWC in April 2020 states that 41% of micro-businesses in Nigeria are owned by women, a report in EFInA stated that 55% of the financially excluded adults in Nigeria are women, and of the 25.1 million financially excluded in the north, 13.1 million are women. Business transactions are largely cash within informal channels, as business funds are kept at home because financial institutions are concentrated in the state capital, while poor record-keeping from transacting through informal channels in turn hampers eligibility for credit.

The previous census, which was performed in 2006, indicated that women made up around 49.7% of the population of Nigeria. Despite this, Nigerian women (particularly those in the northern region) have not been able to change the long-standing status that society accords to women. There are a number of reasons why women in Northern Nigerian society are treated unequally, the majority of which can be linked to the patriarchal system in place and the general lack of gender awareness among the rural population, including women who have been socialized to accept their subordinate position.

However, with better access to information online, women have developed a greater sense of awareness. Online educational content, blogs videos and social media tools have given women access to a virtual world that provides them with opportunities for self-expression. Digital platforms are aiming to be more inclusive than ever before in light of the changing political conscience. It is now essential, not simply an option, to guarantee women's safety, inclusivity, and a voice at all intersections.

Through online workspaces, more women have recently been able to achieve financial independence. There are now more jobs available for women thanks to specific job postings on numerous online portals. Housewives or moms who have taken extended absences from the workforce now have access to special possibilities to re-enter the workforce. Many websites provide part-time and full-time occupations that people can undertake from home.

In Northern Nigeria, Startup AREWA and Financial Service Innovation (FSI) organized a virtual hackathon on financial inclusion amongst female entrepreneurs within the northern region by proffering simple and easy-to-use fintech solutions to increase more of their participation in setting up businesses. The innovative solutions developed from this hackathon were able to tackle the challenges faced by unbanked and underbanked female entrepreneurs in Northern Nigeria.

Dr. Marliyyah reveals how women now have access to a wide range of created opportunities online as a result of technology advancements. "Technology has helped women affirm their freedom of expression and right to the workforce, which they frequently find difficult to accomplish. This is a really great achievement that shows how it can be utilized to empower those with disadvantaged identities.

"However, it must not be overlooked that having internet access is necessary in order to take use of these virtual prospects. How many women and members of underrepresented groups actually have access to such technology is still an open subject. To ensure that intersectional gaps are filled and that technology and the internet are more widely available, intervention is necessary in this context."

About Startup AREWA

Startup AREWA was established to organize, empower and promote the Northern Nigeria technology and Startup Ecosystem, with the overarching goal of using technology and startups as a strategy to combat unemployment and poverty across the Northern Nigeria.

From the first Bootcamp at Bello Memorial Foundation Hall in Kaduna to a series of over 20 Bootcamps across Northern Nigeria, engaging over 5000 Startups with support from innovators and public-private leaders, Startup AREWA is implementing its strategic plan of promoting and providing real-time support to Startups.

Official website: https://startuparewa.ng
Facebook: https://facebook.com/startuparewa
Twitter: https://twitter.com/startuparewa
Instagram: https://www.instagram.com/startuparewa/
Email: hello@startuparewa.ng

For more information, please visit https://startuparewa.ng, write to contact@startuparewa.ng, or call us on +234 90 9685 9999.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

ACROMETA receives LOA for S$6.1 million design and build works from a global clinical research organisation

SINGAPORE, Dec 30, 2022 – (ACN Newswire) – AcroMeta Group Limited, an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, has received a letter of award ("LOA") for the design and build of laboratory and office space worth approximately S$6.1 million from a global clinical research organisation that helps companies conduct clinical development of drugs or medical devices (the "Project").

The Project site work is commencing soon and a binding contract would be executed in due course. In the unlikely event that the execution of contract is not followed through, the Group is safeguarded as it would be entitled to claim a maximum value of approximately S$1.8 million for value of works performed.

Said Mr Lim Say Chin, Executive Chairman, "We are greatly encouraged that the Project involves a new customer in the biotechnology space. This speaks of the confidence that our customers have in our capabilities. We will continue to work hard towards delivering quality services, leveraging on our established track record and proven expertise as controlled environment specialist engineers."

The Project is expected to contribute positively to the earnings per share and net tangible assets per share of the Group for the current financial year ending 30 September 2023.

To the best of the Directors' knowledge, none of the Directors and controlling shareholders of the Company have any interests, direct or indirect, in the Project, other than through their respective shareholdings in the Company.

About ACROMETA Group Limited (SGX Stock Code: 1CH1)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMETA's business is divided into two main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. The company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:
ACROMETA Group Limited
Mr. Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

This media release has been reviewed by the Company's sponsor, Evolve Capital Advisory Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

ACROMETA Group Limited: [SGX: 43F] [BIC: ACRO:SP] [RIC: ACRO.SI], www.acrometa.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Moshi Moshi Retail (SET: MOSHI) debuts on SET as it pursues aggressive growth to reign supreme in lifestyle product retailing

BANGKOK, Dec 22, 2022 – (ACN Newswire) – Moshi Moshi Retail Corporation (SET: MOSHI) is set to make a debut on the Stock Exchange of Thailand (SET) on 22 December, marking a new chapter of the flourishing business of Thailand's leading lifestyle product retailer.


It follows an enthusiastic initial public offering (IPO) launch that saw its 75 million shares snapped up in a show of investors' confidence in the potential of MOSHI. By going public, the company is ready to embark on a major expansion that will see its chain stores rising to 165 by 2025, thus maintaining its leadership in Thailand's lifestyle product market.

Mr. Sanga Boonsongkor, Chief Executive Officer of MOSHI, said the entry to the Thai bourse represents a major new milestone in the company's successful history. With the potential, competitive edge, and fundamentals as the major player in lifestyle goods retailing, MOSHI shares would gain the strength that attracts investors' attention, he stated. Currently, the company is involved with up to 12 product categories that meet the needs of customers. They are home furnishing, bags, stationery, plush dolls, fashion accessories, beauty products, apparel, cosmetics, IT equipment, toys, food and drink, and other categories such as fabric masks and COVID-19 Antigen Test Kit. Altogether, there are more than 22,000 stock keeping units (SKUs) in MOSHI's system.

The products come in collection forms with new offerings being laid out in stores every month to make it appealing to buyers with colors and patterns designed by the company's in-house team and licensed cartoon characters such as Mickey Mouse, We Bare Bears, Winnie the Pooh, Snoopy, and Hello Kitty. The firm will use the proceeds from the fundraising for store expansion and investment in future projects. That includes the development of the original branches and improving the efficiency of the company's operations such as the development of supply chain systems and point of sale systems. In addition, MOSHI is pondering the establishment of stand-alone stores outside department stores in areas close to target customers such as community areas and schools, as well as opening franchised outlets.

The target is for ramping up Moshi Moshi and GIANT outlets to 165 stores by 2025 from 101 operating as of 30 September 2022. Most of the outlets are located in leading department stores, hypermarkets, and local department stores nationwide.

Mr. Sanga noted that the company would open two trial stand-alone branches in secondary provinces outside department stores at locations in communities, schools, and government centers. "We will study customer and shopping behaviors in secondary provinces to determine the product mix that is suitable for outlets in those localities, taking sale figures, and profit margins to analyze and determine the appropriate format of a franchise as MOSHI has set its sights on expanding its franchised operations in 2024."

Mr. Pongsak Phrukpaisal, Managing Director of Kasikorn Securities PCL which serves as a financial adviser and underwriter for MOSHI allotment, said the company is ending 2022 with a high note, thanks to its listing on the SET. He said: "MOSHI is in the lifestyle product industry which is growing faster than the retail industry in general. "That is because lifestyle products are an indication of identity and therefore it has expanded according to the growth of the middle class.

Moreover, MOSHI has advantages over competitors such as the management team with a long retail business experience and a good relationship with manufacturers and distributors both at home and abroad. Yet, MOSHI has many products that are only available at its stores. By being a Thai company with its own procurement and product development department, it has a good understanding of the market and the needs of the Thai people. As a result, the company has been able to constantly launch new products to respond to the demand trends of customers that change quickly. Meanwhile, MOSHI has an outstanding store design that makes it different from other operators' shops," he concluded.

Visit https://www.moshimoshi.co.th/, [SET: MOSHI][SET: MOSHI/F][SET: MOSHI-R].

Released for Moshi Moshi Retail Corporation for MT Multimedia Co Ltd
Onanong Pattaravejkul (Fah), T: +66 (0) 86-801-8888, E: ornanong.p@mtmultimedia.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Belgravia Hartford Provides Year End Update on Zonetail Litigation

TORONTO, ON, Dec 21, 2022 – (ACN Newswire) – Belgravia Hartford Capital Inc. (CSE: BLGV) ("Belgravia Hartford", "Belgravia" or the "Company") provides a shareholder status update on its litigation with Zonetail Inc. (TSXV: ZONE) ("Zonetail").

Belgravia and Zonetail are currently engaged in litigation which Zonetail launched in December 2019, the litigation is related to their prior commercial relationship.

Background Summary

1. Prior to becoming a publicly listed company, Zonetail solicited Belgravia to purchase its shares through private placement transactions in an effort to build working capital, and in part, to complete its going public transaction;

2. From February 2018 to November 2018 Belgravia invested $876,600 in Zonetail common shares at an average cost price of $0.1885/common share (the "Zonetail Share Cost Price");

3. Additionally, on July 26, 2018, at the repeated request of Zonetail, Belgravia, in good faith, agreed to loan Zonetail $325,000 (the "Loan") and issued a promissory note in the amount of $325,000 plus 8% interest due November 1, 2018 (the "Promissory Note") which was agreed to and signed by Zonetail in promise of payment;

4. In August, 2018, Zonetail paid an interest payment of 144,444 common shares representing 8% of the interest payable;

5. Further, on October 30, 2018, Belgravia, in good faith, agreed to amend the date of repayment of the Promissory Note to the earlier of (i) that date which is 12 months from the closing of the Zonetail going public transaction, or (ii) November 1, 2019 and increased interest payable from 8% interest to 18% interest on the Promissory Note;

6. From March 2018 through February 2019 Belgravia was engaged by Zonetail to implement certain management services to fulfil its listing requirement. Belgravia provided services to assist Zonetail with Corporate Governance structure, meeting listing requirements and a number of other corporate initiatives;

7. On November 21, 2018, Zonetail became a publicly-traded company on the TSX Venture Exchange. As a result, Belgravia's equity position, 4,749,999 common shares and 1,905,555 share purchase warrants was subject to Tier 2 escrow provisions and released over three years: 2019, 2020, and 2021;

8. On November 23, 2018, Zonetail paid an interest payment on the Loan of $32,500 to Belgravia in accordance with the Promissory Note;

Steps to Degradation of Relationship between Belgravia and Zonetail

9. During Q2 of 2019, five months after the going public transaction was complete and only then the second tranche of the escrowed funds were released, the average market price of Zonetail common shares had plummeted to a price of approximately of $0.06 per common share or 1/3 of the original Zonetail Share Cost Price. Belgravia's total loss on investment: Over $700,000;

10. On August 29, 2019, Zonetail released it's Q2 Financials which indicated approx. $17,000 of cash in the treasury;

11. In December 2019, Zonetail commenced a legal action against Belgravia, instead of repaying the Loan in good faith. Belgravia continues to demand immediate repayment of the Loan and the debt owed, being $506,125 (principal and unpaid interest to date); and

12. Belgravia has counterclaimed for $2,500,000 against Zonetail seeking to (among other things) hold Zonetail accountable for the full amount of the Loan repayment and applicable interest (i.e., $506,125).

Mehdi Azodi President & CEO of Belgravia Hartford stated, "Belgravia will vigorously defend itself and assert its right to re-payment of the Loan in accordance with the Promissory Note. Belgravia is moving rapidly towards scheduling a trial date and will provide a further update in early Q1 of 2023."

About Belgravia Hartford

Belgravia Hartford Capital Inc. ("Belgravia" or the "Company") is a publicly traded investment holding company listed on the Canadian Securities Exchange. Belgravia is focused on growing its assets and holdings and increasing its net asset value (NAV). Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. It takes a multi-sector investment approach with emphasis in the resources and commodities sector. Belgravia and its investments are considered high risk holdings and it may expose shareholders to significant volatility and losses. For more information, please visit www.belgraviahartford.com.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, statements regarding planned investment activities & related returns, the timing for completion of research and development activities, the potential value of royalties, and other statements that are not historical facts. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, changes in market trends, the completion, results and timing of research undertaken by the Company, risks associated with resource assets, the impact of general economic conditions, commodity prices, industry conditions, dependence upon regulatory, environmental, and governmental approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

For More Information, Please Contact:
Mehdi Azodi, President & CEO
Belgravia Hartford Capital Inc.
(250) 763-5533
mazodi@blgv.ca

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Music Licensing, Inc. (OTC: SONG) Announces Major Updates for Investors: Form 211 Filing, Potential Forward Stock Split or Dividend, and Plans to List on Nasdaq

NAPLES, FL, Dec 19, 2022 – (ACN Newswire) – Music Licensing, Inc. (OTC PINK:SONG), owner of Pro Music Rights, one of the world's largest music licensing companies, is pleased to announce that a new Form 211 has been filed with FINRA to restore its proprietary quote eligibility. The company is now awaiting FINRA to process the form and is confident that it will fully restore its eligibility.

In addition, Music Licensing, Inc. (OTC: SONG) is exploring a forward stock split or a stock-based dividend once FINRA has processed the new Form 211. The company is considering a 1 for 5 forward stock split to increase liquidity, tighten the bid/ask spread, and increase trading volume. It is also exploring the possibility of issuing a dividend to shareholders in the form of a new class of common stock with identical rights as the current class. Music Licensing, Inc. (OTC: SONG) plans to file another Form 211 with FINRA to allow both classes of common stock to be publicly traded.

Music Licensing, Inc. (OTC: SONG) has been in communication with Nasdaq's First North Growth Market in Sweden to list on the exchange. On December 15, 2022, the company's European capital markets listing advisor, DCM Asesores, had a call with Nasdaq First North Growth Market to become a certified adviser. DCM Asesores expects to undergo training to become a certified adviser by mid to late February 2023 and guide Music Licensing, Inc. (OTC: SONG) through the listing process on Nasdaq First North Growth Market. Nasdaq has already confirmed the reservation of the symbol NASDAQ: MUSIC for Music Licensing, Inc. (OTC: SONG)'s listing.

In other news, Music Licensing, Inc. (OTC: SONG) is working with its legal counsel to collect on a judgment won against Ayujoy Herbals (OTC: AJOY) and expects to receive a response on an arbitration complaint filed with FINRA by Pro Music Rights and the Jake P. Noch Family Office seeking $386,574,108.25 plus interest and costs from OTC Link LLC by January 6, 2023.

About Pro Music Rights, Inc. (ProMusicRights.com)

Pro Music Rights the 5th public performance rights organization (PRO) ever formed in the United States. Its licensees include notable companies like TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and hundreds of others. Pro Music Rights controls an estimated market share of 7.4% in the United States, representing over 2,500,000 works that feature notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBaggYo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Fall Out Boy, and countless others. For more information, please visit promusicrights.com.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

Contact:
investors@ProMusicRights.com

SOURCE: Music Licensing, Inc.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Heavyweights to speak as AFF opens conference year

HONG KONG, Dec 19, 2022 – (ACN Newswire) – The 16th Asian Financial Forum (AFF), organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will be held on 11 and 12 January next year in hybrid format.


Ban Ki-Moon, eighth Secretary-General of the United Nations and more policymakers and business leaders will deliver keynote speeches at AFF 2023.

Helen Clark, Former Prime Minister of New Zealand

Christiana Figueres, Co-Founder of Global Optimism and Former Executive Secretary of the United Nations Framework Convention on Climate Change


Themed "Accelerating Transformation: Impact – Inclusion – Innovation", the Forum will include addresses from more than 100 global business leaders, policymakers, financial and wealth management experts, entrepreneurs, tech giants and economists who will share their views on issues related to global finance, economy, trade and sustainability. The Forum will also provide a platform to connect participants for business and investment opportunities to strengthen Hong Kong's status as an international financial centre.

As the restrictions on arrivals have been relaxed, more international business travellers are expected to visit Hong Kong and participate in international conferences. To promote the vitality of the city, the HKTDC has curated a variety of exclusive benefits for AFF delegates from overseas, enriching their stay beyond the two-day forum.

Speakers include the Former Secretary-General of the United Nations (UN), Former Prime Minister of New Zealand and Former Executive Secretary of the UN Framework Convention on Climate Change

As the premier financial and business forum and the first large-scale business exchange event kicking off the new year, AFF assembles more than 100 heavyweight thought leaders to examine ways to formulate better business strategies and develop a blueprint for sustainable growth after a turbulent 2022, and explore how global corporates can work together to create a resilient economic landscape through innovation and inclusion. This year's forum draws a number of policymakers and business leaders to share their views, including the following three eminent keynote speakers:

– Ban Ki-moon, eighth Secretary-General of the UN

Ban Ki-moon served as Secretary-General of the UN between 2007 and 2016. During his tenure, he focused on the response to global challenges, from climate change and economic upheaval to pandemics and food and energy crisis. He will deliver his keynote address and share his insights on coping with global challenges and promoting sustainable development with multilateral cooperation on the first day of Forum (11 January).

– Helen Clark, Former Prime Minister of New Zealand

Helen Clark was the Prime Minister of New Zealand from 1999 to 2008. Throughout her tenure, she engaged widely in policy development and advocacy across the international, economic, social and cultural spheres. She will deliver her keynote address under the theme of equality and diversity on the second day of Forum (12 January).

– Christiana Figueres, Co-founder of Global Optimism and Former Executive Secretary of the UN Framework Convention on Climate Change

Christiana Figueres is an internationally recognised leader fostering climate action. As the Executive Secretary of the UN Framework Convention on Climate Change from 2010 to 2016, she actively coordinated climate change initiatives to jointly deliver the 2015 Paris Agreement. She will discuss the latest trends in climate action and net-zero policies on the second day of Forum (12 January).

Discussion sessions on hot market topics

The two-day Forum will include more than 40 discussion sessions, featuring heavyweight financial, government and business leaders to shed light on major topics, including global economic outlook, regional trade collaborations such as the Regional Comprehensive Economic Partnership Agreement (RCEP) and Guangdong-Hong Kong-Macao Greater Bay Area, asset and wealth management, environment, social and governance (ESG) and green finance, insurance and risk management, family office ecosystem, philanthropy and impact investing, financial inclusion, decentralised finance (DeFi), Web3 and Metaverse, monetary reforms and central bank digital currencies (CBDC) opportunities.

In the main panel discussions, international financial and business leaders including Valerie Baudson, Chief Executive Officer of Amundi; Takeshi Kunibe, Chairman of the Board, Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking Corporation; Robert F. Smith, Founder, Chairman & CEO of Vista Equity Partners; Mark Tucker, Group Chairman of HSBC Holdings; Dr Jose Vinals, Group Chairman, Standard Chartered; Dr Ridha Wirakusumah, CEO of Indonesia Investment Authority and James Turner, Group Chief Financial Officer, Prudential will examine macroeconomic trends amid the epidemic recovery and external uncertainties, and key market opportunities.

Tackling environmental challenges, energy and food crises has become top of the agenda on global level. Rapid development of Web3 and other financial technologies have also shaped the future of economy. In light of this, AFF will establish the Global Spectrum series, together with the Fireside Chat, to discuss various disruptive innovations and initiatives in society, covering venture capital and start-up ecosystem, transition to net-zero and ESG standard-setting, food security, health equity, metaverse and non-fungible token (NFT) and more. Speakers include Prof KC Chan, Senior Advisor, WeLab; Luanne Lim, Chief Executive, Hong Kong, HSBC; Benedicte Nolens, Head of the Hong Kong Centre, BIS Innovation Hub; Alfred Chuang, General Partner, Race Capital; Andrew Schwabecher, CEO & Representative Director, Japan Computer Vision Corp. and Adam Litle, Chief Executive Officer, Sound Agriculture. The Dialogues for Tomorrow series will also invite forward-looking industry leaders, including Sebastian Fahey, EVP, Managing Director, EMEA and Executive Lead, Metaverse, Sotheby's; Jeremy Coller, CIO, Managing Partner and Founder of Coller Capital and Charles Li, Founder and Chairman of Micro Connect.

AFF Deal Flow in hybrid mode with extended period

In addition to gathering global financial and business leaders to share insights, the HKTDC and the Hong Kong Venture Capital and Private Equity Association will again co-organise the AFF Deal Flow Matchmaking Session. The first two days of the matchmaking meeting (11 and 12 January) will allow participants to meet at the physical Forum venue, and continue online till 17 January with a digital extension, offering investors and project owners prolonged period to connect and explore collaboration opportunities. The matchmaking projects will cover industries ranging from deep technology, digital technology and media, medical technology, education and infrastructure to real-estate services. A function for identifying ESG-integrated projects debuted last year has also been enhanced to facilitate business matching.

Nearly 100 exhibitors showcase new technologies and investment opportunities

The AFF will also house nearly 100 local and overseas exhibitors, international financial institutions, technology companies, start-ups and investment promotion agencies and sponsors including PwC, Standard Chartered Bank, Bank of China, HSBC, UBS, China International Capital Corporation, Huatai International, Hong Kong Exchanges and Clearing Limited and Cyberport to showcase leading financial technologies. Three highlighted zones, including Fintech Showcase, InnoVenture Salon and FintechHK Start-up Salon will allow on-site participants to experience technologies of tomorrow.

Wide array of exclusive discounts and privileges for overseas delegates

As the first large-scale business exchange event in 2023, the HKTDC has curated a variety of exclusive travel, food and hotel discounts and privileges in collaboration with Hong Kong Tourism Board, Klook, LKF Concepts and hotels to encourage AFF delegates from overseas to make the most out of their stay and experience the vitality of Hong Kong outside the Forum.

Participants who register now can enjoy an early bird discount. More activity details, speaker line-up and media registration arrangements will be announced in early January.

Website
– Asian Financial Forum: https://www.asianfinancialforum.com/conference/aff/en
– AFF Programme List: https://www.asianfinancialforum.com/conference/aff/en/info-programme
– AFF Speaker List: https://www.asianfinancialforum.com/conference/aff/en/speaker
– Media Room: http://mediaroom.hktdc.com
– Photo download: https://bit.ly/3FklQrP

Members of the media interested in interviewing AFF 2023 speakers can send an email to tleung@yuantung.com.hk or ayiu@yuantung.com.hk on or before 5 January 2023.

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Media enquiries

Yuan Tung Financial Relations:
Tiffany Leung, Tel: +852 3428 2361, Email: tleung@yuantung.com.hk
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk
Fung Wong, Tel: +852 3428 3122, Email: hfwong@yuantung.com.hk

HKTDC's Communications & Public Affairs Department:
Katy Wong, Tel: +852 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: +852 2584 4525, Email: snowy.sn.chan@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Sportsman Shikhar Dhawan launches $75M Global SportsTech Venture Fund

ABU DHABI, UAE, Dec 17, 2022 – (ACN Newswire) – International cricketer and entrepreneur Shikhar Dhawan has launched Da One Global Ventures (DOGV), a $75 million Global SportsTech Venture Fund focusing on innovation across the Sports spectrum. The multi-stage fund, with a greenshoe option of $25 million, is to incorporate in the Abu Dhabi Global Market (ADGM), with its vibrant business ecosystem and robust regulatory framework, and include a SportsTech Accelerator and eSports Venture Studio as distinguishing verticals within its platform.
International Cricketer Shikhar Dhawan announcing $75M Global SportsTech Venture Fund, Nov 14, 2022 [Da One Global Ventures]


This is the first VC fund organized by an Asian sportsperson and Indian celebrity. Mr Dhawan introduced his partners and the team at Da One Global Ventures during his keynote at the LP-GP Summit, part of Abu Dhabi Finance Week (ADFW), the prestigious economic forum for world leaders to gather and address strategic macroeconomic and financial topics which will shape regional and global perspectives for the years to come.

Shikhar Dhawan, a highly reputed name in the cricket world today, established a seasoned team as the fund's General Partner (GP) leading the investment thesis across the Sports spectrum – from SportsTech to eSports, and Gaming to Web3. The fund will be global in nature, as will its sports personalities, representing multiple sports as Limited Partner (LP) Ambassadors. This unique network will allow unprecedented access to sports ecosystems of the world, mobilizing investment and accelerating growth.

Shikhar Dhawan comments: "I am elated to start new innings and embark on this journey through the world of venture capital. All of this is only possible with the support of my commercial partners, and the commitment of Da One Global Ventures to the fund, readying for this week's announcement and targeted deployment in Q1 2023-24.

DOGV will go beyond traditional investing models, providing domain knowledge and accessing the global sporting ecosystem. We aim to scale greater heights and set new benchmarks for Sports Technology Venture Capital. I have much gratitude toward sports and look forward to the contributions of this fund to the economic strength, and the growth of Sports.

This year has been spectacular for SportsTech, with investments to the tune of $12 billion already, more than the preceding three years combined, covering multiple segments, and illustrating the rapid growth in this dynamic industry. We are in active discussion with various stakeholders across the ecosystem, and developments will be announced in due course."

Shikhar Dhawan is a leading Indian cricketer. A left-handed opening batsman and occasional captain of the India national team, he captains Punjab Kings in the Indian Premier League and plays for Delhi in first-class cricket. For his notable contributions to the Indian Men's National Cricket Team, Shikhar Dhawan was awarded the prestigious Arjuna Award by the President of India in 2021.

For further details –
Mr Amitesh Shah,
Da One Global Ventures
E: ceo@daonegroup.org

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HKTDC Export Index 4Q22: Hong Kong exports expected to grow 5% in 2023

HONG KONG, Dec 15, 2022 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) projects that Hong Kong's exports will grow 5% next year – a recovery from the 6% decline this year. HKTDC Director of Research Irina Fan said: "Hong Kong's exports will gradually regain growth momentum amid the receding pandemic, easing of COVID-19 restrictions and resumption of cross-border land transportation."
HKTDC Director of Research Irina Fan (R) and Assistant Principal Economist (Greater China) Alice Tsang announced the HKTDC Export Index for the fourth quarter of 2022 and export forecast for 2023 at a press conference today (15 December)

HKTDC Director of Research Irina Fan

HKTDC Assistant Principal Economist (Greater China) Alice Tsang


The latest HKTDC Export Index survey shows that significantly more exporters indicated businesses were no longer suffering from pandemic-related problems (up 10.6 percentage points from the previous quarter to 32.7%), with progress made towards resolving the challenge of high transportation costs and logistics bottlenecks.

Yet, more respondents said buyers haggled over prices (25.7%, up 9.3 percentage points) and reduced order sizes (40.1%, up 5.0 percentage points). Most respondents said they expected sales next year to decrease (49.4%) or remain on a par with sales this year (28.3%). "Lingering geopolitics, coupled with the risk of global stagflation, has dampened consumer sentiment and business confidence," Ms Fan explained.

Recessions risks

The risks of an economic slowdown or recession in major markets (36.2%) and difficulties in cross-border travel (21.1%) have become exporters' key concerns. In response, most said they would develop new products (50.0%), stabilise cash flow (34.6%) and cut costs (30.5%) in the coming year. Other business strategies to be adopted included lowering minimum order quantities, increasing the use of e-commerce for sales and purchases as well as enhancing marketing, promotional or business matching activities.

"High inflation and high interest rates will weaken purchasing power and consumers' desire in the European and American markets. Meanwhile, the Association of Southeast Asian Nations (ASEAN) has become the bright spot for the city's exports. Local exporters should also pay more attention to the opportunities in the Mainland China market. Product-wise, toys and timepieces related to smart and intellectual property (IP) will have higher chance," Ms Fan said.

Sentiment edges down

The HKTDC interviewed some 500 Hong Kong exporters in mid-November for the survey to gauge business confidence about near-term export prospects. Respondents come from six major industries – clothing, electronics, jewellery, machinery, timepieces and toys. Readings above 50 indicate a positive sentiment, while below 50 is negative.

The HKTDC Export Index dropped 3.1 points from the previous quarter to 29.7. "The uncertainties led by slowing global demand has affected exporters' sentiments," said HKTDC Assistant Principal Economist (Greater China) Alice Tsang.

Machinery, watches outperform

Ms Tsang added that machinery (38.3, up 3.4 points) was the most upbeat sector, followed by timepieces (36.8, up 3.0 points), while jewellery recorded a sharp fall of 13.4 points to 30.8. Other sectors such as toys (28.9, down 8.1 points) and fashion (23.8, down 7.4 points), also dropped significantly.

It is worth nothing that all major markets recorded declines. Exporters have more confidence in Asian countries, with Japan topping the table at 47.2, followed by Mainland China (44.4) and the ASEAN bloc (43.5). They, however, remained less optimistic about the EU (40.4) and the US (40.2) markets, as persistent inflationary pressures and the likelihood of recession were set to hamper demand.

Growth in Asia

In the first 10 months of 2022, Hong Kong's total exports fell 4.4% over the same period last year. This was mainly due to pandemic disruption on cross-border trade flows between Mainland China and Hong Kong. Meanwhile, the city's exports to key major Asian markets saw double-digit growth, as the intra-regional supply chain expanded. For instance, Hong Kong's exports to the ASEAN bloc increased 12.6% year-on-year, while they surged 15.0% and 13.5% to Taiwan and Korea, respectively.

However, Hong Kong's exports to the US showed no growth and shipments to the EU fell 2.9% during the same period, as aggressive central bank monetary tightening, high energy and food inflation as well as the lingering Russia-Ukraine conflict dampened consumer and business sentiment.

New products, new opportunities

Looking ahead, it is expected that toys exports will benefit from new 3D live-action games, and other peripheral products derived from film, TV and video games. Household electrical appliance exports will also pick up next year, as many restaurants, hotels and offices resume normal operations.

New products, such as robot vacuum cleaners and sound-activated light switches, also appeal to consumers. Moreover, smartwatches with more advanced health and wellness functions, such as electrocardiogram (ECG) sensor and blood oxygen readouts are becoming more popular.

To view our press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

References
– HKTDC Research website: http://research.hktdc.com/
– HKTDC Export Index 4Q22: Local Exporter Confidence Falters in Face of Global Economic Slowdown https://bit.ly/3FNwCIz
– Covid Legacy and Global Economic Downturn Impact Hong Kong's 2023 Export Outlook https://bit.ly/3FOh7QH
– Photo download: https://bit.ly/3FOi7nI

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Media enquiries
Please contact the HKTDC's Communication and Public Affairs Department:
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org

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JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group make new strategic investment in operational risk management firm Acin

LONDON, Dec 15, 2022 – (ACN Newswire) – Acin, the global operational risk control data network, today announced it has closed $24 million in Series B funding from a strategic consortium of industry-leading banks, comprised of JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group.

The funding round was also supported by existing investors Notion Capital, Talis Capital and Fitch Ventures, the equity investment arm of Fitch Group.

This funding will enable further strategic product development in partnership with investing banks and existing clients. Additionally, it will enable Acin to expand and accelerate into new areas across the financial services industry.

Acin's platform empowers financial institutions to digitise their operational and non-financial risk analysis, using ground breaking data analytic capabilities. Acin has established a network that calibrates data and facilitates the sharing of best practice between firms, underpinned by a standardised library of risks and controls. The results revolutionise the understanding and management of firms' operational and non-financial risk positions accelerating their journey to become safer and more efficient. Minimising operational risk capital is a shared industry ambition and Acin's solution is a key building block.

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http://www.rns-pdf.londonstockexchange.com/rns/7475J_1-2022-12-14.pdf

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International Cricketer Shikhar Dhawan announces $75M Global Investment Sports Tech Fund

ABU DHABI, UAE, Dec 13, 2022 – (ACN Newswire) – On day one of the prestigious Abu Dhabi Finance Week (ADFW), leading international cricketer and entrepreneur Shikhar Dhawan announced that he would be launching a $75 million Global Investment Sports Tech Fund, consisting of a Greenshoe option of $25 million. The proposition is a multi-stage fund, Da One Global Ventures (DOGV), incorporated in Abu Dhabi Global Market (ADGM) and focusing on innovation across the Sports spectrum. ADGM is home to a growing number of international institutions, its vibrant business ecosystem underpinned by a robust regulatory framework.


International Cricketer Shikhar Dhawan

International Cricketer Shikhar Dhawan announced $75 Million Global Investment Sports Tech Fund; Da One Global Ventures – a multi-stage fund being incorporated at Abu Dhabi Global Market (ADGM)


This is the first VC fund organized by an Asian sportsperson and first by an Indian celebrity. The announcement by Shikhar Dhawan, his partners, and the DOGV team, came on 14th November during ADFW at the LP-GP Summit, an invite-only event hosted by 256 Network (a private organization for LPs/GPs worldwide). Held at ADGM, the international financial event draws an audience of global financial market leaders from a wide array of backgrounds who gather to address strategic macroeconomic and financial topics that will shape global, regional and industry perspectives and themes for the years to come.

Shikhar Dhawan is one of the most reputed names in the cricket world, and he has established a globally enriched and seasoned founding team that will lead the fund's investment thesis across the spectrum of Sports to include Technology, eSports, Gaming, Web3 & more. The deployment of funds will be global in nature, as is the LP community. The fund will also have other prominent sporting personalities from across the Globe representing multiple sports as LP Ambassadors. Through this unique network of GP's and LP's (General Partners, Limited Partners), Da One Global Ventures (DOGV) will provide unprecedented access to an ecosystem worldwide which will accelerate and mobilise new propositions with unique positioning.

"I am elated to start a new inning and embark on this journey in the world of venture capital. All this would not have been possible without the support of my commercial partners and the founding team's commitment to this fund, in readiness for this week's announcement and targeted deployment in Q1 2023-24. Da One Global Ventures (DOGV) will go beyond traditional investing models and will provide domain knowledge unprecedented access to sporting ecosystem across the globe. We are making a humble beginning but aim to scale this to greater heights and aspire to set new benchmarks for leading in Venture Capital, Sports and Technology. I have much gratitude to sports & I look forward to the contribution of this fund to the economic strength and growth of Sports," said Shikhar.

Shikhar is known as an Indian cricketer, a left-handed opening batsman and occasional captain of the India national cricket team, and he captains Punjab Kings in the Indian Premier League and Delhi in first-class cricket. For his notable contributions to the Indian Men's National Cricket Team, Shikhar Dhawan was awarded the prestigious Arjuna Award by President in 2021.

This year has been spectacular year for SportsTech with investments to the tune of $12 billion already. That is more than the total of the preceding three years combined and covers multiple segments, illustrating the rapid growth in this dynamic industry.

Da One Global Ventures (DOGV) is in active discussions with various relevant stakeholders across the globe and further developments will be announced in due course. Da One Global Ventures (DOGV) will also incubate a SportsTech Accelerator & eSports Venture studio as distinguishing verticals within its platform.

For further details, get in touch with Mr. Amitesh Shah, email: ceo@daoneglobal.vc. https://daoneglobal.vc/.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com