Fintech PR
Middle East’s sustainability pioneer, Bee’ah, selects Johnson Controls and Microsoft for its Office of the Future
Reading Time: 4 minutes
On Tuesday, executives from Johnson Controls, Microsoft Corp. and the Middle East’s sustainability pioneer, Bee’ah, announced an agreement to enhance Bee’ah’s new headquarters in Sharjah, United Arab Emirates, with a sweeping array of artificial intelligence (AI) and smart building solutions powered by Microsoft.
Using its Digital Vault offering and extended capabilities built on Microsoft Azure, Johnson Controls will work with Microsoft to outfit the new building with intelligent edge systems, devices and software designed to optimize energy efficiency, make the best use of available space and help the building’s occupants be more productive through a virtual AI persona. Evoteq, Bee’ah’s digital venture, will serve as the technical project management partner for this unique project, deploying integrated solutions and enhanced digital capabilities for greater operational output.
From digital workspaces to smart back-office integration, and from smart lobby-visitor management to smart security, employees and visitors at Bee’ah’s new headquarters will experience a diverse range of cutting-edge AI features through multiple touchpoints across various functions including HR, customer care, procurement, administration, and mechanical, electrical and plumbing systems.
“Environmental sustainability and digital technologies are mutually inclusive factors in driving an economy of the future,” said HE Khaled Al Huraimel, Bee’ah’s Group CEO. “Our headquarters embodies our vision for this future and exemplifies the most sustainable solutions and advanced technologies, with no compromise on strategic partnerships, innovation or delivery. This will be the first building in the region, and one of the first in the world, to have full integration with AI to support new seamless experiences for optimization of efficiencies, performance and functionality. Our office of the future will manifest our commitment to the continual advancement of our valued staff body, and AI solutions will provide new avenues of employee development and operational convenience. We look forward to the gradual rollout of AI-powered smart building solutions at other Bee’ah offices and locations across the UAE.”
As one of the Middle East’s first companies dedicated to the pursuit of improving quality of life, Bee’ah is setting a benchmark in AI capabilities within the region and around the world through smart platforms. Bee’ah’s progressive technology achievements have been made possible due to the continual support from the Sharjah government and the UAE’s leadership, which sets the foundations for developing sustainable smart cities.
Designed by the renowned Zaha Hadid Architects, Bee’ah’s futuristic new headquarters will be fully powered by renewable energy and optimized for the sustainable use of resources to have zero net energy consumption and achieve a LEED platinum certification — the highest recognition awarded to green buildings. Under the agreement, Johnson Controls will deploy a technical infrastructure for the building capable of monitoring its entire environment virtually with Microsoft Azure Digital Twins and IoT technologies. The solution will enable Bee’ah to analyze volumes of data to optimize building operations and drive efficiency.
As Bee’ah’s exclusive cloud provider, Microsoft will also optimize the experience of the building for people through technology and solutions powered by Microsoft Azure. Intelligent concierge capabilities will engage visitors and employees to help locate available meeting spaces, book appointments, give directions, hail rides and support day-to-day tasks. These AI-powered personal concierge services are believed to be the first in the Middle East designed specifically for building occupants.
“Digital Vault and our building apps will give Bee’ah the power to make faster, intelligent data-driven decisions to run its headquarters more safely, efficiently and sustainably, and will increase productivity for the people working and visiting Bee’ah’s headquarters,” said Bill Jackson, vice president and president, Global Products, Building Technologies & Solutions, Johnson Controls. “In partnership with Microsoft, Johnson Controls is transforming traditional building systems with services that merge the physical and digital worlds. Through this project, we are showcasing how the cloud and AI can tap into data from physical spaces to drive better engagement with occupants and achieve new levels of efficiency and sustainability.”
Johnson Controls’ Digital Vault offering takes advantage of the capabilities of Azure Digital Twins, Azure IoT and Azure Container Registry to provide a complete virtual representation of data from connected devices and systems throughout the building. With this approach, Digital Vault translates the physical world inside the building into a digital representation of the building with rich data that can be visualized, analyzed and acted upon to deliver proactive maintenance, optimize building systems and deliver intelligent support for the people inside.
Bee’ah started with a vision to create one of the most sustainable and smartest buildings in the Middle East. After an exhaustive search, the firm selected Microsoft as its trusted digital advisor because of the company’s deep industry expertise and commitment to empowering smart cities around the world. Microsoft collaborated with Bee’ah to design the new digital experiences and to build an executable strategy using cloud and AI that would not only deliver smart building systems, but also lead to the creation of spaces and services designed to delight its occupants. Bee’ah selected Johnson Controls based on the company’s skills and offerings across smart building systems and the underlying software platforms, as well as its commitment to and close relationship with Microsoft.
“Together with Johnson Controls and Bee’ah, we are driving the digitization of smarter, more sustainable buildings and spaces,” said Scott Guthrie, executive vice president, Cloud + AI Group, Microsoft. “Bee’ah’s iconic new headquarters will be among the first buildings globally to have end-to-end experiences designed and built on the Azure platform. Azure is the platform that can truly integrate across all the devices, systems and services required for such a large and diverse implementation. Microsoft has been able to reduce energy consumption by 20% on our own campus in Redmond by using machine learning on edge devices and in the cloud, and we can’t wait to see what Bee’ah is able to do by applying this approach to its ultramodern new headquarters in Sharjah.”
SOURCE Johnson Controls
Fintech PR
Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore
SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving India–Singapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.
Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.
Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”
The event brought together a distinguished array of participants, highlighting the transformative potential of India–Singapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.
Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.
The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.
For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.
Photo: https://mma.prnewswire.com/media/2565374/Synapse_2024.jpg
Logo: https://mma.prnewswire.com/media/2565373/Nucleus_Software_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/redefining-financial-frontiers-nucleus-software-celebrates-30-years-with-synapse-2024-in-singapore-302314485.html
OTTAWA, ON, Nov. 22, 2024 /PRNewswire/ — The Royal Canadian Mint (the “Mint”) announces its financial results for the third quarter of 2024 that provide insight into its activities, the markets influencing its businesses and its expectations for the next 12 months.
“As the markets continue to change, the Mint is proving its ability to seize on new opportunities thanks to its diversified structure and flexible business strategy” said Marie Lemay, President and CEO of the Royal Canadian Mint.
The financial results should be read in conjunction with the Mint’s annual report available at www.mint.ca . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.
Financial and Operational Highlights
- The financial results for the third quarter of 2024 were ahead of target and higher than 2023 levels. Higher gold market pricing and foreign circulation volumes combined with lower fixed costs were the main drivers for the quarter over quarter increase. These increases were partially offset by lower than expected bullion volumes from the continued soft demand in the global bullion market. The Mint expects to meet its financial goals for 2024, as set out in its 2024-2028 Corporate Plan, the Mint’s Leadership team continues to actively monitor its status.
- Consolidated revenue decreased to $252.7 million in 2024 (2023 – $360.6 million).
Revenue from the Precious Metals business decreased to $217.6 million in 2024
(2023 – $328.4 million):- Gold bullion volumes decreased 38% quarter over quarter to 106.1 thousand ounces (2023 – 170.1 thousand ounces) while silver bullion volumes decreased 20% to 2.7 million ounces (2023 – 3.4 million ounces).
- Gold and silver market prices increased quarter over quarter by 27% and 23%, respectively.
- Sales of numismatic products decreased 12% quarter over quarter mainly due to the high demand in 2023 for the Queen Elizabeth II’s Reign products.
- Revenue from the Circulation business increased to $35.1 million in 2024
(2023 – $32.2 million):- Revenue from the Foreign Circulation business increased 77% quarter over quarter, a reflection of higher volumes produced and shipped in 2024 as compared to 2023.
- Revenue from Canadian coin circulation products and services decreased 12% quarter over quarter as fewer coins were required to replenish inventories, combined with lower program fees in accordance with the memorandum of understanding with the Department of Finance.
- Overall, operating expenses decreased 27% quarter over quarter to $28.3 million (2023 – $36.0 million) mainly due to planned reductions in consulting and workforce expenses.
Consolidated results and financial performance
(in millions)
|
13 weeks ended |
39 weeks ended |
|||||||||||
|
Change |
Change |
|||||||||||
|
September |
September |
$ |
% |
September |
September 30, 2023 |
$ |
% |
|||||
|
Revenue |
$ |
252.7 |
$ 360.6 |
(107.9) |
(30) |
$ 861.2 |
$ 1,841.8 |
(980.6) |
(53) |
|||
|
Profit (loss) for the period |
$ |
5.7 |
$ (5.8) |
11.5 |
(198) |
$ 24.1 |
$ 15.0 |
9.1 |
61 |
|||
|
Profit (loss) before |
$ |
1.4 |
$ (8.7) |
10.1 |
(116) |
$ 12.3 |
$ 23.4 |
(11.1) |
(47) |
|||
|
Profit (loss) before |
0.6 % |
(2.4) % |
1.4 % |
1.3 % |
||||||||
|
(1) Profit (loss) before income tax and other items is a non-GAAP financial measure. A reconciliation from profit for the period to profit before income tax and other items is included on page 13 of the Mint’s 2024 Third Quarter Report. |
|
(2) Profit (loss) before income tax and other items margin is a non-GAAP financial measure and its calculation is based on profit before income tax and other items. |
|
As at |
||||||||||
|
September 28, 2024 |
December 31, 2023 |
$ Change |
% Change |
|||||||
|
Cash |
$ |
58.4 |
$ |
59.8 |
(1.4) |
(2) |
||||
|
Inventories |
$ |
71.5 |
$ |
68.8 |
2.7 |
4 |
||||
|
Capital assets |
$ |
174.2 |
$ |
173.0 |
1.2 |
1 |
||||
|
Total assets |
$ |
376.8 |
$ |
380.4 |
(3.6) |
(1) |
||||
|
Working capital |
$ |
99.2 |
$ |
97.8 |
1.4 |
1 |
||||
As part of its enterprise risk management program, the Mint continues to actively monitor its global supply chain and logistics networks in support of its continued operations. Despite its best efforts, the Mint expects changes in the macro-economic environment and other external events around the globe to continue to impact its performance in 2024. The Mint continues to mitigate potential risks as they arise through its enterprise risk management process.
To read more of the Mint’s Third Quarter Report for 2024, please visit www.mint.ca.
About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours. As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations.
For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedIn, Facebook and Instagram.
FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES
This Earnings Release contains non-GAAP financial measures that are clearly denoted where presented. Non-GAAP financial measures are not standardized under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other corporations reporting under IFRS.
This Earnings Release contains forward-looking statements that reflect management’s expectations regarding the Mint’s objectives, plans, strategies, future growth, results of operations, performance, and business prospects and opportunities. Forward-looking statements are typically identified by words or phrases such as “plans”, “anticipates”, “expects”, “believes”, “estimates”, “intends”, and other similar expressions. These forward-looking statements are not facts, but only estimates regarding expected growth, results of operations, performance, business prospects and opportunities (assumptions). While management considers these assumptions to be reasonable based on available information, they may prove to be incorrect. These estimates of future results are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Mint expects. These risks, uncertainties and other factors include, but are not limited to, those risks and uncertainties set forth in the Risks to Performance section of the Management Discussion and Analysis in the Mint’s 2023 annual report, as well as in Note 9 – Financial Instruments and Financial Risk Management to the Mint’s Audited Consolidated Financial Statements for the year ended December 31, 2023. The forward-looking statements included in this Earnings Release are made only as of November 20, 2024 and the Mint does not undertake to publicly update these statements to reflect new information, future events or changes in circumstances or for any other reason after this date.
For more information, please contact: Alex Reeves, Senior Manager, Public Affairs, Tel: (613) 884-6370, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/royal-canadian-mint-reports-profits-and-performance-for-q3-2024-302314428.html
Fintech PR
OIVE and ViniPortugal celebrate closing of joint campaign that reached 100 million consumers
MADRID and PORTO, Portugal, Nov. 22, 2024 /PRNewswire/ — For three years, A Shared Passion showed European consumers the quality and unparalleled versatility of Iberian wines. The program reached over 100 million consumers with advertising in airports, train stations, press trips, digital content, and other actions with opinion leaders.
The wine interprofessionals of Spain (OIVE) and Portugal (ViniPortugal) celebrated the closing of their ambitious joint campaign A Shared Passion with flagship events in Madrid and Porto. The closing event in Spain took place in Madrid’s iconic Calle Alcalá, while in Portugal, the World of Wine (WOW) in Porto was the perfect setting to present the achievements of the international collaboration. Both ceremonies were very well received by the press and the wine sector, highlighting the impact of the promotional actions that reached more than 79.2 million travelers in key transport infrastructures.
The campaign included 22 study trips, taking 150 specialized journalists to explore the world of wine in both countries and generating publications that reached nearly 15 million European consumers.
On social media, the A Shared Passion profile on Instagram exceeded 15,000 followers, consolidating its presence in the digital sphere. In addition, exclusive activities such as workshops and VIP dinners contributed significantly to this initiative’s global impact.
The final events were honored by the presence of opinion leaders, such as Masters of Wine Pedro Ballesteros and Dirceu Vianna Júnior, who moderated round tables with the presidents of OIVE, Fernando Ezquerro, and ViniPortugal, Frederico Falcão. The conference concluded with masterclasses that highlighted Spain and Portugal’s extraordinary oenological diversity, reinforcing the relevance of the sector in the economic, social, and environmental sustainability of both countries.
With funding from the European Union, A Shared Passion highlighted not only the quality and authenticity of Iberian wines but also their strategic role in the sustainable development of numerous municipalities. This initiative underlines the passion with which Spanish and Portuguese wines are made, reflecting their rich traditions and commitment to the future.
For more information: www.asharedpassion.com
Video: https://mma.prnewswire.com/media/2565600/ViniPortugal_and_OIVE.mp4
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/oive-and-viniportugal-celebrate-closing-of-joint-campaign-that-reached-100-million-consumers-302314339.html
-
Fintech PR7 days agoSustainable Infrastructure Holding Company (“SISCO”) Q3FY24 revenue (excluding accounting construction revenue) increases by 23.8% to 341.8 million
-
Fintech2 days agoFintech Pulse: Industry Updates, Innovations, and Strategic Moves
-
Fintech1 day agoFintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations
-
Fintech PR7 days agoLaunch of Al Faisal Al Baladi Holding
-
Fintech PR3 days agoROLLER Releases 2025 Attractions Industry Benchmark Report, Unveiling Key Trends and Revenue Strategies
-
Fintech PR2 days agoTAILG Represents the Industry at COP29, Advancing South-South Cooperation with Low-Carbon Solutions
-
Fintech4 days agoFintech Pulse: Navigating Expansion, Innovation, and Sustainability
-
Fintech3 days agoFintech Pulse: Milestones, Partnerships, and Transformations in Fintech