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The Energy Union: from vision to reality

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The fourth report on the State of the Energy Union, adopted today, shows that the Commission has fully delivered on its vision of an Energy Union strategy guaranteeing accessible, affordable, secure, competitive and sustainable energy for all Europeans.

Europe is already a global leader in fighting climate change. European policies implemented over the last five years in all policy areas have put the EU on the right track to fully embrace the clean energy transition, seizing the economic opportunities that it offers, creating growth and jobs and a healthier environment for consumers.

Beyond modernising European energy and climate policy, the Energy Union boosts the clean energy transition of the European economy in key sectors, in line with our commitments under the Paris Agreement, while ensuring a socially fair transition. Building a resilient Energy Union with a forward-looking climate and energy policy has been one of the political priorities of the Juncker Commission. Today we take stock of the successful implementation of what was but a vision in 2014 of a unified, interconnected, secure and sustainable Energy Union. The report is accompanied by two documents showing progress made in renewable energy and energy efficiency. In parallel the Commission is also putting forward a report on the implementation of the strategic action plan on batteries and a communication for more efficient and democratic decision making in EU energy and climate policy.

Vice-President Maroš Šefčovič, in charge of the Energy Union, said: “The Energy Union is Europe at its best: tackling together the big energy security and energy transition we can’t solve within national borders. From the daunting challenge of the energy transition we made an economic opportunity for all Europeans. To do this, we had to truly transform our energy and climate policies: not just tweaks at the margins but systemic change. No Member State could have delivered on its own. Our report shows how all the Energy Union measures combine to make our policy fit for the future. Today, our framework redirects investments into future oriented technologies and solutions. We have also kick-started measures for industry such as battery manufacturing in Europe, while making sure we’re not leaving any European behind in the transition. It is now for each Member State to follow suit and rapidly integrate national measures on energy, climate, mobility and all other related areas, so Europe leads the way towards climate neutrality by mid-century.”

Commissioner for Climate Action and Energy Miguel Arias Cañete said: Europe has now in place the world’s most ambitious and advanced climate and energy framework. We agreed all the legislation to meet our 2030 targets, with higher targets for renewables and energy efficiency. But the Energy Union is more than rules and policies: we mobilised record levels of clean energy investments in Europe, we brokered the Paris Agreement and triggered its quick entry into force, we further integrated the European energy market, and we set a long-term vision for climate neutral Europe by 2050. But we still have a long way to go. We need to keep up the deployment of renewable energy across Europe and step up efforts to save more energy. We must embark in a process of transformation with a much greater sense of urgency than I see today. With our climate-neutral strategy by 2050, wehave sketched out how this can be done, and presented a solid analysis of why and how Europe can achieve climate neutrality; why this model can be replicated by other countries in the world; how climate neutrality, economic prosperity and social fairness can and must go together.”

The Energy Union has strengthened the internal energy market and increased the EU’s energy security by investing into new smart infrastructure (including, cross-border), providing a new state-of-the-art market design and introducing a cooperation mechanism between the Member States based on solidarity to respond to potential crises in a more effective and efficient manner.

As the Commission has recently set out in its Communication “A Clean Planet for All”, the energy transition requires a comprehensive economic and societal transformation, engaging all sectors of the economy and society to achieve the transition to climate neutrality by 2050. The Energy Union framework puts Europe on the right path to become a prosperous, modern, competitive and climate neutral economy.

The Juncker Commission has put in place a brand new legislative framework for the Energy Union. The updated legislative framework has enabled the EU to maintain its leadership in climate action by increasing its level of ambition for 2030 in a number of energy related sectors, from increased targets for renewable energy and energy efficiency, to targets on emissions from cars, vans and lorries. In addition to the new legislative framework, the Commission has put in place an enabling framework of supporting measures toensure a smooth transition for European industries, regions and cities. A number of targeted initiatives have been created to guarantee all regions and citizens benefit equally from the energy transition. One of these initiatives is the European battery alliance.

The European battery industry has been identified as a strategic value chain for the EU in the context of a strengthened industrial policy strategy. The Energy Union report is accompanied by a separate report on the implementation of the strategic action plan on batteries.

A second Communication published today calls for a strengthening of the democratic accountability of the decision-making process under the Euratom treaty. The European Commission will establish a High Level Group of Experts to assess the state of play of the Euratom Treaty with a view to considering how, on the basis of the current Treaty, its democratic accountability could be improved.

In the same communication, the Commission asks the European Parliament and the Council to reflect on how energy taxation could better contribute to the EU’s energy and climate policy objectives, and how a move to qualified majority voting (QMV) decision-making amongst Member States could help to unlock progress in this area. This strand of work builds on the Commission’s blueprint for a gradual transition to QMV decision-making in all areas of taxation, first published in January.

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Fluent Economic Bridge Acquires ADGM License, Expands Operations to Colombia to Propel UAE Global Trade

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ABU DHABI, UAE, Nov. 30, 2023 /PRNewswire/ — Blockchain startup Fluent Economic Bridge has officially received its Abu Dhabi Global Market (ADGM) license, permitting Fluent to domicile and conduct operations within the United Arab Emirates’ most prestigious Special Economic Zone. As its first course of action as a licensed ADGM member, Fluent is set to open a new office in Colombia to streamline trade activities with the United Arab Emirates. This initiative is part of the broader Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Colombia, which aims to streamline, digitize, and enhance international trade. For Fluent, the move comes following the startup’s addition to the Ministry of Economy’s NextGen FDI Program in October, as it begins to take strategic action to bolster the UAE’s position as a global trade gateway.

Bradley Allgood, Co-Founder & CEO of Fluent Economic Bridge, underscored the significance of the ADGM license, as well as Fluent’s expansion into Colombia: “Establishing an on-the-ground presence in Colombia marks a significant milestone in our mission to revolutionize global trade. With an official ADGM license under our belt, we are more prepared and better positioned than ever to facilitate seamless and efficient trade between the UAE and Colombia, further advancing the UAE’s status as a global trade hub.”

Fluent’s presence in Colombia is expected to enhance cross-border payment systems and trade finance by leveraging the company’s innovative deposit token infrastructure to open direct and highly efficient trade corridors between nations. Fluent also has committed to be in attendance at Abu Dhabi Finance Week, a move focused on strengthening its ties with commercial and trade leaders within the UAE’s rising fintech scene.

By leading the charge as a fintech innovator operating between traditional finance and blockchain ecosystems, Fluent aims not only to make a significant impact on global trade finance, but to position the UAE as a leader in the digital native global economy for decades to come.

View original content:https://www.prnewswire.co.uk/news-releases/fluent-economic-bridge-acquires-adgm-license-expands-operations-to-colombia-to-propel-uae-global-trade-302001376.html

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Innocan Pharma Reports Q3 2023 Results Including US$3.334M Increase in Revenues Compared to Q3, 2022

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  • US$4.083M Revenues for Q3 2023 compared to US$749,000 for Q3 2022, representing an increase of 445%
  • US$3.664M Gross Profit for Q3 2023 compared to USD 715,000 for Q3 2022, representing an increase of approximately 412%

HERZLIYA, Israel and CALGARY, Alberta, Nov. 29, 2023 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTC: INNPF) (the “Company” or “Innocan”), a pharmaceutical technology company focusing on developing innovative drug delivery platform technologies and owner of a proprietary intellectual property portfolio, is pleased to announce its financial results for the three and nine months period ended September 30, 2023.

 

“We are thrilled with the significant growth we achieved in the third quarter,” says Iris Bincovich, CEO of Innocan. “Our strategic focus on the midterm-goal of FDA approvals for our LPT-CBD-loaded liposome platform, alongside the robust sales from our subsidiary, B.I. Sky Global Ltd., have significantly contributed to this increase in both revenue and gross profit. We remain committed to our vision and are optimistic about the future.”

Financial highlights for the third quarter of 2023:

  • Revenue: The Company posted US$4.083M in revenue for the three months ended September 30, 2023, marking an increase of US$3.334M compared to the three months ended September 30, 2022. This surge in revenue is primarily attributable to the robust sales performance of Innocan’s subsidiary, B.I. Sky Global Ltd.
  • Gross Profit: For the three months ended September 30, 2023, the Company reported a gross profit of US$3.664M, compared to US$715,000 for the three months ended September 30, 2022, representing an increase of US$2.949M.
  • Cash Balance: As of September 30, 2023, the Company’s cash balance was US$4.024M.

For a comprehensive understanding of Innocan’s consolidated financial statements and related management’s discussion and analysis for the three and nine months period ended September 30, 2023, please visit the Company’s profile at www.sedarplus.ca.

About Innocan

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Chronic Pain Management and Epilepsy and Pain Management. (ii) CLX CBD-loaded exosomes platform that may hold the potential to provide a highly synergistic effect of regenerating and anti-inflammatory properties targeting the Central Nervous System (CNS). In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/

For further information, please contact:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1-516-210-4025
+972-54-3012842
+442037699377
[email protected]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution regarding forward-looking information

Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company’s products, requisite regulatory approvals and the timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedarplus.ca.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

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7th Edition of Fintech Abu Dhabi Explores Synergy Between Finance and Technology

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ABU DHABI, United Arab Emirates, Nov. 29, 2023 /PRNewswire/ — Building upon the successes of MENA’s biggest Fintech Festival presented by Abu Dhabi Global Market (ADGM), the 7th edition of Fintech Abu Dhabi welcomed an impressive turnout of financial tech leaders and visionaries converging from across the globe today. This included those leading innovation in major financial institutions, startups, innovators, entrepreneurs, venture capitalists, scientists and academics, solidifying Abu Dhabi’s position as a forward-thinking innovation and tech hub.

 

 

ADGM’s flagship event, Fintech Abu Dhabi, conducted in partnership with Huawei continued to be a highlight of Abu Dhabi Finance Week (ADFW) this year, focusing on the central theme of the event – ‘The Convergence of Finance and Technology’. The event kicked off with a lively debate on the financial crime economy and brought together prominent AI institutions in Abu Dhabi to discuss the city’s early commitment to AI. Participants also delved into the maturity of the crypto industry. Dr. Alexander Lipton, Global Head of Research & Development at ADIA provided insights on how social media is reshaping the global banking landscape, while the CEO of Circle outlined strategies for harnessing digital assets to enhance global financial stability. Other interesting sessions today included ‘Decoding a “Skandal” – Inside Wirecard’s Investigation discussed by Financial Times Investigative Reporter – Dan McCrum and Themis Founder and CEO – Dickon Johnston and ‘Finding an Entrepreneurial Mindset with VaynerX Chairman and CEO – Gary Vaynerchuk.

One-of-a-kind forums featured during Fintech Abu Dhabi included Blockchain, AI and Risk & Security. Blockchain Abu Dhabi presented in partnership with Circle discussed topics such as the quest to design stability for digital money, digital currencies of Central Banks improving digital asset infrastructure and the overall impact of blockchain and Web3 on the financial industry. AI Abu Dhabi was conducted in collaboration with Mastercard while Risk 4.0 was conducted in association with the Executive Council for Anti-Money Laundering and Counter Terrorism Financing.

During the event, ADGM – in collaboration with its partners, unveiled initiatives to redefine regulatory practices. The Financial Services Regulatory Authority (FSRA) outlined its “Regulation as a Service” strategy through its Digital Lab, aimed at co-creating innovative solutions for the licensing and supervision of firms. Noteworthy collaborations of the FSRA with the National University of Singapore announced aims to develop an AI-powered assessment tool for virtual asset service providers seeking licensing in ADGM.

In its efforts for continuous improvement, the FSRA announced soliciting feedback on a discussion paper related to information technology (IT) risk management to enhance firms’ operational resilience. Furthermore, fostering innovation in Decentralised Finance (DeFi), the FSRA unveiled a collaboration with Coinbase Asset Management and Neoply and also nudged towards a DeFi consultation paper slated for publication in 2024, alongside enhancements to the existing regulatory framework.

Linda Fitz-Alan Registrar and Chief Executive at ADGM Courts said, “In its staggering 7th edition, Fintech Abu Dhabi started as a pioneer, awakening our imagination, guiding the disruption of our norms and making innovation our constant. This is no longer an annual event; this is a pivotal marker to test the temperature and tap into the thoughts of global leaders in financial technology.  The insightful discussions at Fintech Abu Dhabi do not just shape the future of the fintech landscape, but also create its landscape while opening our minds to the endless possibilities for the future of the financial sector.”

Furthermore, major announcements by global companies such as GQG Partners (GQG) an independent asset management firm with more than USD 100 billion in AUM and Offset8, a proprietary asset management firm specialising in the global verified carbon credits (VCC) market announced receiving an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the ADGM. IOTA, the open public goods infrastructure ushering in digital asset innovation, announced its registration as the first company to be registered under the DLT Foundations Regulations of ADGM.

MEVCA and New York and Singapore headquartered-GPCA announced a partnership that will see GPCA establish a permanent presence in the Middle East, with the support of MEVCA.

The Global Financial Regulators Summit, a closed-door gathering of key global financial regulatory leaders was conducted parallel to Fintech Abu Dhabi and discussed the role regulators play in shaping the sustainable finance landscape of the future. The outcomes of the summit will be announced tomorrow during the R.A.C.E (Regulation, Awareness, Collaboration & Ecosystem) Sustainability Summit.

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Cision View original content:https://www.prnewswire.co.uk/news-releases/7th-edition-of-fintech-abu-dhabi-explores-synergy-between-finance-and-technology-302001177.html

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