Fintech PR
Abu Dhabi Finance Week Charts the Rise of the Falcon Economy with the Launch of Abu Dhabi Economic Forum
- The Chairman & CEO of JP Morgan Chase & Co praised the economic transformation agendas of Abu Dhabi, whilst announcing plans to expand the bank’s operations in ADGM.
- Global finance leaders assembled to analyse ADFW’s main theme, ‘Investing in the transition era.
ABU DHABI, UAE, Nov. 27, 2023 /PRNewswire/ — In the presence of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, Abu Dhabi Finance Week (ADFW) commenced its four-day series of over 46 sub-events with a spectacular opening ceremony hosted under a specially designed event dome in the South Plaza of Abu Dhabi Global Market (ADGM) and followed the launch of the inaugural Abu Dhabi Economic Forum (ADEF).
The first day of ADFW brought together distinguished and high-level leaders from over 100+ countries under one roof to witness a range of high-level focused range of sessions, discussing Abu Dhabi’s rise as a global financial centre including keynote speeches, panel discussions, workshops, and presentations.
One of the highlights of the opening ceremony was a thought-provoking keynote speech by the legendary investor Ray Dalio, who delved into the complexities of the Changing World Order, drawing insights from his recent book. The participation of influential leaders and prominent figures such as Mr. Dalio, emphasised the international significance of ADFW and its objective to explore new paradigms in finance and economics.
In his address at the opening ceremony of ADFW, His Excellency Ahmed Jasim Al Zaabi, Member of Abu Dhabi’s Executive Council and Chairman of ADDED and ADGM welcomed the esteemed crowd to Abu Dhabi, the ‘Capital of Capital’ and the ‘Falcon’s Playground’ and shared his thoughts on the momentous occasion, saying, “Abu Dhabi Finance Week is a testament to our commitment to positioning Abu Dhabi as a global financial hub. The opening ceremony was a remarkable start to a week that promises to be filled with insightful discussions and meaningful partnerships. The ADEF, in particular, symbolises our dedication to fostering economic growth and innovation, in alignment with the changing world order and the rising Falcon Economy of Abu Dhabi and the UAE.”
The inaugural edition of ADEF was conducted in partnership with ADQ. The high-level event engaged in comprehensive discussions surrounding Abu Dhabi’s evolving economy within the changing global context.
The event witnessed the participation of a distinguished group of leaders, including CEOs of Sovereign Wealth Funds such as ADQ and Mubadala and Ministers of Economy and Climate. These discussions provided an international perspective on strategies to foster regional monetary cooperation in support of the Falcon Economy.
ADFW’s theme, ‘Investing in the Transition Era,’ was explored in a dedicated session, featuring prominent leaders from across the globe and deep-dived into the economic consequences and investment opportunities in a transitioning era.
A highlight of ADEF was the appearance of Jamie Dimon, Chairman and CEO of JP Morgan Chase & co, who praised Abu Dhabi’s economic growth planning, whilst announcing a major expansion of the bank’s operations in the Emirate. He stated ”The determination of the emirate that is forging ahead with its reform agendas is extremely impressive, be it their economic, financial and social agendas. These are not easy changes but there is clear progress on all fronts towards the goal to create a safe and secure society and a dynamic Falcon Economy. We’ve continued to add to the team this year and have submitted an application to upgrade our operating licence to a full category one banking entity, signalling our intent and commitment to the size of the opportunity here.”
In her keynote address at the ADEF, Her Excellency Mariam Almheiri, Minister of Climate Change & Environment, Government of UAE highlighted the event’s significance as a premier platform for connecting and problem-solving within the finance and business community in the MENA region. Her Excellency addressed the global challenge of climate change, praising the UAE’s proactive stance and advocating for a pro-climate, pro-growth strategy, and underscored the pivotal role of climate finance in achieving the goals of the Paris Agreement, expressing the UAE’s commitment to kickstarting transformative change at COP28 and making climate financing more accessible, available, and affordable for the world.
ADQ unveiled during ADEF the SWF’s fiver year progress along with a deep-dive into the company’s vision, journey and investment approach.
ADGM also made a milestone announcement, committing to extending the facilities arrangement with the World Bank’s office for an additional five years, signifying a continued collaboration on opportunities, in areas such as research, knowledge exchange, events and policymaking.
Abu Dhabi Finance Week is now in full swing, with its upcoming events Asset Abu Dhabi, Fintech Abu Dhabi, and the R.A.C.E Sustainability Summit scheduled for November 28th, 29th, and 30th, respectively.
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VILNIUS, Lithuania, Dec. 27, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the launch of ALTCOIN Index, the first futures trading pair involving top altcoins. This innovative trading product offers users a one-click solution to efficiently track and trade major cryptocurrency trends with ease.
Traditionally used in stock markets, a futures index is a financial derivative that tracks the performance of a group of assets, such as stocks of commodities. These instruments were first introduced to simplify trading by allowing investors to speculate on or hedge against the collective movements of selected market sectors. Instead of purchasing individual stocks, traders are able to access broad market exposure in a single transaction, saving time and reducing costs.
In the cryptocurrency market, this new ALTCOIN/USDT futures trading pair works similarly by bundling the performance of the top mainstream cryptocurrencies by market capitalization, excluding Bitcoin (BTC) and stablecoins. The current index includes ETH, XRP, SOL, BNB, DOGE, ADA, TRX, AVAX, and SHIB. This approach is more efficient compared to buying individual cryptocurrencies or ETFs as this allows for direct speculation using tiered leverage options without the need to manage multiple positions, effectively diversifying trading risks associated with individual asset volatility.
Vivien Lin, Chief Product Officer of BingX, commented on the new offering: “By aggregating a range of leading cryptocurrencies into a single trading instrument, we’re giving users a practical and efficient way to better capture market trends. This index trading pair should help our less experienced users with their trading goals more easily, particularly when they are unsure which asset to trade and just want to trade major altcoins in general with leverage.”
BingX users can take advantage of tiered leverage options and competitive rates consistent with the platform’s perpetual futures terms, simplifying open order management and enhancing trading efficiency. The platform also ensures that the index composition remains current, with regular quarterly adjustments and temporary updates in response to market conditions.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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View original content:https://www.prnewswire.co.uk/news-releases/bingx-introduces-altcoin-index-futures-trading-one-click-countless-trends-302339486.html
SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.
The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.
Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).
Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”
Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.
Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”
With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.
Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.
About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.
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View original content:https://www.prnewswire.co.uk/news-releases/nodepay-raises-7m-total-funding-to-power-ai-growth-with-real-time-data-infrastructure-302339478.html
PASAY CITY, Philippines, Dec. 26, 2024 /PRNewswire/ — The SM Group is approaching the coming year with cautious optimism, encouraged by the continued growth of the Philippine economy.
SM Investments President and Chief Executive Officer Frederic C. DyBuncio said that despite ongoing challenges of peso volatility and higher inflation, the business sector has adapted well.
Consistent demand sustained household spending in the third quarter, with Household Final Consumption Expenditure posting a year-on-year growth of 5.1%, maintaining the same level in the same quarter last year, data from the Philippine Statistics Authority showed.
“Any moderation in inflation should trigger a strong confidence rebound. This could create opportunities in consumer-focused sectors in the country and we are poised to cater to these evolving demands,” Mr. DyBuncio said.
To cater to growing demand, SM continues to expand into more underserved areas, contributing to sustainable economic development and collaborating with government stakeholders to enhance access to modern retail, financial services, and integrated property developments.
“By investing and expanding to more areas nationwide, SM creates new markets and improves access to these essential sectors, serving more communities and helping stimulate sustained economic activities,” he said.
Mr. DyBuncio also said SM continues to invest in promising ventures such as renewable energy and logistics, that foster economic activity.
SM has invested in the clean energy industry through Philippine Geothermal Production Company (PGPC) which produces 300 Megawatts of geothermal steam supply. SM aims to continue to develop geothermal concessions through PGPC in support of the Department of Energy’s goal of reaching 50% renewable energy supply by 2040.
To encourage circularity towards green energy production, SM’s property arm, SM Prime Holdings partnered with GUUN Co. Ltd. (GUUN) to implement the Japanese technique of reducing landfill impact. The technology converts non-recyclable and hard-to-recycle packaging into alternative fuel.
SM’s banking arm, BDO Unibank is one of the largest funders of renewable energy projects. BDO has funded PHP898 billion in sustainable finance, including loans to 59 renewable energy projects as of December 2023.
In logistics and tourism, the improvement of transport networks across the country’s archipelago connects tourist and industrial areas that will help create inclusive growth. SM though its subsidiary 2GO launched MV Masigla and MV Masikap in 2024 to help better connect goods to 19 ports across the country including Iloilo, Bacolod, Cagayan de Oro and Manila, further supporting the government’s push for medium term growth through an upgraded tourism infrastructure and ecosystem.
“Our focus for 2025 will be to drive purposeful growth, empowering communities and partners through our investments towards a sustainable future,” Mr. DyBuncio said.
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View original content:https://www.prnewswire.co.uk/news-releases/sm-approaches-2025-with-cautious-optimism-302339452.html
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