Fintech PR
VeeaSystems to Display the Full Range of Devices for VeeaHub Platform at MWC Shanghai Bringing Advanced Wireless Edge Computing to Smart Verticals
VeeaSystems, a wholly owned subsidiary of Veea Inc., the company powering an intelligently connected world with a universal platform for IoT and smart edge solutions, today announced that it will be publicly demonstrating the full range of its VeeaHub intelligent wireless edge servers for the first time at MWC Shanghai 2019, June 26-28. The company’s solutions bring together highly integrated Edge Computing and Wireless-mesh networking with performance and security designed and tailored for home and enterprise applications from SMEs to campus-wide deployments, including models for ruggedized industrial applications and certified for use in physically demanding transport environments. Veea will be exhibiting at MWC Shanghai on the iFree Booth F160 in Hall N1.
VeeaSystems will be displaying four different indoor and outdoor VeeaHub models that enable businesses operating across a wide spectrum of deployment scenarios to benefit from a resilient mesh network and innovative Smart applications running on its server function that support current as well as new and innovative use cases literally across every market vertical.
VeeaHub is a breakthrough platform solution with intelligent wireless servers that can create a hybrid wireless and wired micro-cloud at customer premises with support for all commonly used forms of wireless communications and the ability to run unique software applications on each VeeaHub node’s Linux server function to complement or minimize enterprise or SME’s dependence on cloud computing. It is a highly scalable platform that most economically substitutes for, or complements existing, Wi-Fi Access Point (APs) while providing for communications with a wide range of Wi-Fi, Bluetooth (with an integrated Eddystone beacon) and communication protocols (e.g., Zigbee and Z-Wave) for sensors and devices supporting Internet of Things (IoT) at customer premises as one highly integrated solution.
VeeaHub’s unique software architecture supports a novel container-based virtualization enabling a wide range of solutions and applications through the VeeaHub App Store. VeeaHub models on display run the same software architecture enabling the flexibility for applications to be deployed and managed concurrently, with each VeeaHub model providing physically different connectivity and compute capabilities alongside alternative environmental options. The VeeaHub range includes:
- VeeaHub (VHE05) – ideal for Small Medium Businesses, Smart Home and Developers
- VeeaHub Pro (VHE09/10) – ideal for large indoor Enterprise deployments
- VeeaHub Pro Outdoor (VHH10) – ideal for large outdoor Enterprise or Smart City deployments
- VeeaHub Pro RT (VHHR06) – ideal for Transportation including Trains, Ships, Trams and Buses
By proving a platform for applications to operate at the Edge, managed from VeeaHub’s Cloud platform with local control via smartphone and web-based Control Center, businesses can now make any vertical ‘Smart’, including Retail, Cities, Buildings, Education, Construction, Hospitals, Government, Trains, Ships and Home. VeeaHub users can download apps from the VeeaHub App Store as well as write their own custom applications using the VeeaHub SDK with ease.
“VeeaHub Platform delivers a whole new paradigm of computing that opens up a huge range of business innovations. By delivering a platform that offers a resilient and rapidly deployable mesh network, combined with highly secure edge compute – that can operate with or without Internet access – enterprises of all sizes and shapes can develop and deploy a wide range of innovative applications and services that suit their needs for the same cost as popular enterprise-class WiFi Access Points with only one function,” said Allen Salmasi, CEO of Veea. “We are now taking orders from a wide range of vertical markets, helping enterprises benefit from the power of wireless edge computing.”
VeeaHub’s micro-cloud significantly extends the range of wireless connectivity and coverage for smart devices, with a highly advanced “mesh networking” technology that substantially reduces cabling costs, along with multiple backhaul capabilities for Internet connection. It optionally provides for an eSIM-based 4G backhaul connectivity solution for 4G SD-WAN including automatic failover for ISP connection. Another unique feature is support for various forms of LoRa communications that can be customized for long-range low-power communications. VeeaHub platform solutions substantially reduce cloud computing costs and dependency on third party resources, while increasing reliability, security, privacy and flexibility in processing, managing, disseminating and maintaining data.
With the sheer quantity of data being generated for consumption at distant locations, it is fast becoming obvious that cloud computing will not be able to address a significant number of Industry 4.0 applications on a stand-alone basis. This may be for reasons of cost, service availability and reliability, security and privacy, latency, lack of a connection to Internet (e.g., mine shaft), or the environmental considerations of how all of this data is processed, managed and disseminated across the globe.
As new Applications using Artificial Intelligence (AI), Augmented Reality (AR) and Machine Learning emerge the issue of latency will also become more critical for many services. Whilst 5G offers higher speeds of connection, it only addresses one of the vulnerabilities associated with cloud computing and only in cases that ultra-high speed communications is required. Edge Computing provides a complimentary solution that allows for an alternative to the method of blindly sending all the data to the Cloud, and then deciding what to do with it, for many applications. VeeaHub platform enables all or, at least, part of the data processing to take place locally, where the data has been captured, before transferring anything to the Cloud.
SOURCE VeeaSystems
A strategic partnership between two of the largest Qatari companies to add value to the local and regional market, enhancing food security and innovation in several key sectors.
DOHA, Qatar, Nov. 16, 2024 /PRNewswire/ — Senyar Trading & Distribution Company and Al Baladi Holding have announced the launch of their strategic partnership under the name of ‘Al Faisal Al Baladi Holding’. The launch ceremony was attended by Sheikh Faisal bin Qassim Al Thani, Chairman of Al Faisal Holding, and Mr. Mohammed Abdullah Al Attiyah, Chairman of Al Baladi Holding. This partnership aims to provide added value to the Qatari and regional markets, and to enhance the role of Qatari companies in supporting and developing the local economy in line with Qatar National Vision 2030.
Within this partnership, a strong economic icon was established under the name ‘Al Faisal Al Baladi Holding Group’, capable of implementing huge projects across the MENA region in a number of different vital sectors, especially livestock and agricultural production projects, which contributes to supporting food security and enhancing livestock in a sustainable manner. In addition, the retail sector constitutes a significant part of the Company’s activities.
Al Faisal Al Baladi Holding Group Holding includes Al Faisal Al Baladi Holding LLC, based in Qatar, Al Faisal Al Baladi Group for Malls Management and Operations, based in Egypt, and Al Faisal Al Baladi Holding, based in the Sultanate of Oman. As well as livestock and agricultural production, these companies will operate in several diverse sectors including distribution and wholesale, manufacturing, hospitality and hotels, restaurants, food and beverages, with the retail sector also constituting a significant area of focus. Through these activities, they will seek to meet the growing demand for innovative products and solutions, while supporting sustainable economic development in Qatar and the region.
Commenting on this announcement, Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Faisal Holding, stated: “I am pleased to witness the formation of this strategic partnership that represents the development of the private sector in Qatar and enhances its ability to compete through cooperations built on solid foundations. This partnership is a realization of Qatar Vision 2030 of empowering the private sector and enhancing its contribution to the local economy. I wish both parties success in this promising partnership.”
Mr Mohammed Abdullah Al Attiyah, Chairman of Al Baladi Holding and Chairman of Al Faisal Al Baladi, said: “We are delighted with this cooperation which opens new horizons for growth and expansion. Al Baladi Holding has achieved remarkable successes in recent years, and this partnership comes to underpin our position in the market and expand the scope of our activities. We hope that Al Faisal Al Baladi Holding will contribute to the development of successful and innovative projects that will be a source of pride for everyone.”
Sheikh Mohammed bin Faisal Al Thani, Vice Chairman of Al Faisal Al Baladi Holding, added: “We share common goals, integrated resources, and expertise with Al Baladi Holding. Through this partnership, we will achieve integration and synergy in diverse businesses to maximize value for all parties, including consumers and investors, which will benefit all stakeholders and contribute to achieving a positive impact across every level.”
Mr. Abdullah Mohammed Al Attiyah, Vice Chairman of Al Baladi Holding, said: “Undoubtedly, the stability of the Qatari economy, the diversity of investment opportunities, and the positive business environment, have all contributed to Al Baladi Holding’s market leading position. We look forward to this partnership with confidence in its promise to help build a bright future”
Mr. Tarek Mahmoud Al Sayed, Board Member of Al Faisal Al Baladi Holding, added: “Food security projects hold special importance, especially in their comprehensive and sustainable concept, which constitute an essential part of our future strategy. We seek to play a pivotal role in the region through livestock and agricultural production projects, as we currently own a number of livestock and agricultural production companies in Qatar and Oman, and we plan to expand and launch new projects in a number of countries in the region and North Africa. This will support Al Faisal Al Baladi in becoming a leading company in achieving food security at the regional level.”
Mr Hany Al Sayyadi, CEO and Board Member of Al Faisal Al Baladi Holding, concluded by saying: “This partnership strengthens our diversified investment portfolio and facilitates the expansions of our presence in regional and global markets. Our vision is to achieve a strong presence in the Middle East region, by focusing on innovation and quality in all our sectors. This partnership is a natural extension of the vision of both companies to enhance economic integration and contribute to driving development in Qatar and the region.”
Al Faisal Al Baladi plans to expand its business activities in regional and global markets, by utilizing the diverse investment opportunities represented by the manufacturing, hospitality and retail sectors. The Group’s current portfolio includes more than 30 leading companies in their fields, including Al Baladi and Al Baladi Express Markets, Al Wajba Dairy and Juice Factory, City Limousine Company, in addition to a number of restaurants and companies in the food sector, and many others.
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View original content:https://www.prnewswire.co.uk/news-releases/launch-of-al-faisal-al-baladi-holding-302305819.html
Fintech PR
Sustainable Infrastructure Holding Company (“SISCO”) Q3FY24 revenue (excluding accounting construction revenue) increases by 23.8% to 341.8 million
- Revenue grew by 23.8% compared to previous year
- Gross profit of SAR 179.8 million, a 21.7% increase compared to Q3FY23
- Adjusted EBITDA rose 29.5% to SAR 210.2 million
JEDDAH, Saudi Arabia, Nov. 16, 2024 /PRNewswire/ — Sustainable Infrastructure Holding Company (“SISCO”, “TADAWUL: 2190”), Saudi Arabia’s leading strategic investor in Ports & Logistics and Water Solutions has announced its financial results for the quarter ended 30 September 2024.
Revenues for the third quarter of 2024, excluding accounting construction revenue, grew by 23.8% compared to Q3FY23 to reach SAR 341.8 million. On a quarter-to-quarter basis, revenues grew by 13.0% compared to Q2FY24.
The third-quarter gross profit of SAR 179.8 million represents 14.7% quarter-on-quarter growth and 21.7% growth compared to Q3FY23. The gross profit margin for Q3FY24 was down 0.9% year-on-year, due to increased depreciation and direct costs, but was up 0.8% quarter-on-quarter, in line with expectations. Year-to-date saw gross profits increase by 13.8% to SAR 469.5 million.
Adjusted EBITDA growth rose 29.5% to SAR 210.2 million compared to Q3FY23, aligning SISCO with strategic goals. Quarter-on-quarter growth was 20.8%, with a year-to-date increase of 17.7% to SAR 543.8 million.
SISCO reports a strong recovery in the Red Sea Gateway Terminal from subdued Q3FY23 Port segment results due to the Red Sea situation. Port volume reached 828,868 TEUs in Q3FY24, returning to levels similar to Q4FY23.
Commenting on the results: Eng. Khalid Suleimani, Group CEO, SISCO said:
“I am pleased to report that SISCO has continued to demonstrate strong growth and operational performance in Q3FY24, with revenues improving by 23.8% compared to Q3FY23. Our Ports segment, which remains a key growth driver, saw a significant increase, leading to robust results despite the Red Sea challenges.
Net income remains strong, despite the one-off payment of SAR 25 million to Zakat. Another highlight of the quarter is the impressive recovery in the Red Sea Gateway Terminal, highlighting it’s resilience.
We are also excited to announce the Multi-Purpose Terminals (MPT) concession, which will allow us to expand operations across all non-containerised port facilities in the Red Sea Gateway Terminal. This strategic initiative positions SISCO to capture further growth opportunities domestically and internationally.
Looking ahead, we remain committed to executing our five-year strategy to double revenues by 2026 and continue delivering long-term value to our shareholders.”
View original content:https://www.prnewswire.co.uk/news-releases/sustainable-infrastructure-holding-company-sisco-q3fy24-revenue-excluding-accounting-construction-revenue-increases-by-23-8-to-341-8-million-302307352.html
DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-crypto-titans-november-arena-boasts-55-000-usdt-in-rewards-302307028.html
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