CITYCON OYJ Corporate Press Release 13 May 2024 at 10:00 hrs

HELSINKI, May 13, 2024 /PRNewswire/ — Citycon will outsource its finance activities, specifically those related to Nordic Accounting and Lease Administration, to enhance the scalability and flexibility of its operations in line with evolving business requirements. The vendor for the outsourcing is Staria, a financial services company offering international financial administration services in over forty countries.

With this outsourcing, Citycon aims to align the size and capabilities of the finance organization with the company’s future development, ensuring it can adapt to meet the needs at any given time. The outsourcing includes a transfer of people from Nordic Accounting and Lease Administration teams, from Sweden, Finland, Norway and Estonia. The transfer will take place in Q3/2024.

The vendor selected by Citycon for the outsourcing is Staria, a Finnish company that offers global accounting services, ERP consulting services, and BI & Planning solutions in over forty countries through a unique one-stop delivery model. Staria operates in all countries where there are transferring employees.

“We want to continue benefiting from local expertise within our operating countries and are confident that we have identified the ideal partner to maintain and enhance our financial expertise, while ensuring seamless collaboration with Citycon’s organization. We are convinced that Staria is the best partner for us and can enable scalability according to our evolving business needs,” says Sakari Järvelä, Chief Financial Officer at Citycon.

“We’re thrilled to welcome Citycon’s esteemed finance team into our fold to enrich our talent pool with highly skilled professionals from the Nordic region. We look forward to providing our new colleagues with a Great Place to Grow at the heart of the industry, and a strong partnership with Citycon going forward,” says Sanni Koskela, Staria’s Chief People and Culture Officer.

“We are delighted to partner with Citycon and to have their finance team join Staria’s family, marking an important milestone on our journey of international growth. I’m excited about what lies ahead for us,” says Artti Auramaa, Staria’s CEO.

The outsourcing will have no material effect on Citycon’s financial performance in 2024.

For further information:
Sakari Järvelä
Chief Financial Officer, Citycon
Telephone +358 50 387 8180
[email protected]

Sanni Koskela
Chief People and Culture Officer, Staria
Telephone +358 40 350 9296
[email protected]

Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.0 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.

Citycon has investment-grade credit rating from Standard & Poor’s (BBB-). Citycon’s shares are listed on Nasdaq Helsinki Ltd.

www.citycon.com/

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Newgen’s platform for Trade Finance, designed by industry experts, emerges as a game changer for banks

NOIDA, India, May 13, 2024 /PRNewswire/ — Newgen Software, a global provider of a low-code platform for end-to-end automation at scale, announced that it has been named in the Gartner® Market Guide for Commercial Banking Cash Management and Trade Finance Solutions, 2023 report.

Gartner describes global banking cash management and trade finance solutions as “capabilities that support end-to-end business and product processes, a consistent operating model, and client services in the corporate treasury and working capital domains.” The report will help bank CIOs gain insights into the vendor solutions available in the market.

Newgen’s Trade Finance Solution, built on the NewgenONE low-code platform, offers transaction origination, transaction processing, and document management capabilities. The Swift-Compatible Solution enables commercial banks to comply with the latest Swift standards and enriches the journey orchestration for both customers and internal bank users.

“Newgen excels in delivering operational excellence and unifying customer experience with its advanced trade finance solution. We believe this Gartner recognition reaffirms the critical role our innovative solutions play in creating a connected digital ecosystem and fulfilling the unique requirements of our commercial clients,” said Runki Goswami, Global Head of Marketing at Newgen Software.

Disclaimer: GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product, or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner’s research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Newgen Software Technologies Ltd.

Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML. Globally, successful enterprises rely on Newgen’s industry-recognized low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications. Newgen unlocks simple with speed and agility.

For more details, visit www.newgensoft.com

Media Contact: [email protected] 

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BEIJING, May 13, 2024 /PRNewswire/ — The second Sunday of May marks the Mother’s Day, a day when people around the world appreciate and honor mothers.

Chinese President Xi Jinping’s mother Qi Xin believes that one of the most pressing concerns for any parent is the growth of their children. “If something goes wrong with the children, the parents bear undeniable responsibilities,” she once said.

She once fully transcribed a motto passed down from the Ming Dynasty to the present day, which roughly says that justice is the only way to distinguish right from wrong, and integrity is the only way to establish one’s authority.

The motto marked Qi’s teaching for her son.

Importance of integrity

After Xi took on leadership roles, his mother once arranged a family meeting to ask her other children not to engage in business activities in the areas where Xi worked.

Influenced by his mother, Xi would warn his friends and relatives not to do any business in the places where he worked, nor do anything under his name.

Xi has incorporated these beliefs into his governance practices.

In January, Xi called for fostering stronger family ties, values and traditions, at the third plenary session of the 20th Communist Party of China Central Commission for Discipline Inspection, saying that leading officials must maintain integrity and set strict rules for their relatives and children.

Public awareness initiatives to promote the principle of integrity and cases of models in this regard are also required to foster public respect for integrity and bolster resistance to corruption, he added.

Virtue of thrift

Promoting the virtue of thrift is another important family tradition of Xi as his mother has always maintained a simple lifestyle.

Under the influence of the family traditions, Xi also lives a simple life and does not hold high standards on what he wears or eats.

Xi has attached great importance to food security as well as the virtue of thrift. He has repeatedly called for promoting the social custom of practicing thrift and opposing waste.

Calling the issue of food waste shocking and distressing, he has stressed the need to resolutely putting an end to wasting food and called for promoting thrift in 2020.

To curb the bad practice of food wastage, China launched a comprehensive “Clear Your Plate” campaign in recent years, with restaurants and canteens displaying anti-food waste posters and banners and media publishing content that promotes the virtue of frugality.

“The habit of thrift and frugality should be preserved; in my family to this day, for what is served in the bowl, not a single grain of rice can be wasted,” he told deputies from Shandong Province at the first session of the 13th National People’s Congress in 2018.

https://news.cgtn.com/news/2024-05-12/Integrity-and-thrift-Uncovering-Xi-Jinping-s-family-traditions-1txZov8OtSE/p.html

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