Fintech PR
ASTRI Drives Forward 5G + C-V2X + AI Innovation and Transformation with Intel Technology
At Mobile World Congress (MWC) Shanghai 2019, Hong Kong Applied Science and Technology Research Institute (ASTRI) revealed their collaborations with Intel on 5G Standalone (SA) Core Network and Roadside Edge AI (Artificial Intelligence) for C-V2X (Cellular Vehicle-to-Everything) that power the new era of network transformation with the compelling capabilities of 5G, C-V2X and AI working together.
ASTRI’s 5G Standalone (SA) Core Network at 200Gbps on Intel Architecture
5G networks aim to provide diversified services. In 3GPP Release 15 standards, the 5G new Standalone (SA) core network enables a high degree of flexibility to meet application and service requirements. In fact, the Enhanced Mobile Broadband (eMBB) services have very high traffic capacity and data rate requirements (as much as 1000x comparing to 4G). The new 5G SA core network requires significantly more capacity, throughput performance and scalability to meet the challenging requirements for 5G.
ASTRI and Intel have collaborated on the research, development and optimization of 5G SA Core Network, especially on the User Plane Function (UPF) throughput, to meet 5G requirements. The collaboration results in, on a single sever, over 200Gbps throughput can be processed by ASTRI’s 5G UPF without packet loss. The key capabilities and elements to deliver breakthrough performance in the 5G Core Network include:
- The UPF of ASTRI’s 5G SA Core Network can achieve high per-core performance
- Dynamic Device Personalization (DDP) technology on Intel® Ethernet Network Adapters is utilized to achieve fine-grade load balancing to allow throughput scale up linearly with additional CPU cores
- ASTRI 5G SA Core Network can scale down to a single hardware platform for small scale deployments, or scale out and distributed in cloud architecture
ASTRI and Intel are continuing the R&D collaboration to work closely on ASTRI’S 5G SA core network, such as supporting the N9 interface for mobile edge and additional Service-Based Network Functions, to enable a variety of network topologies to transform mobile core network to cater different 5G applications and scenarios.
Edge Intelligence and C-V2X Transforming Smart Mobility and Network Infrastructure
ASTRI and Intel collaborated to enable edge AI and visual-sensing capabilities for evolving next-generation smart roadside Infrastructure. The initial focus will be on enabling the real-time object recognition by ASTRI’s C-V2X Edge Software solution to detect imminent danger on roads and issue real-time alerts (like pedestrian crossing) to the respective drivers via C-V2X communications between vehicles and roadside infrastructure.
In addition to the low latency C-V2X communications, the C-V2X Edge Software demands high performance computing, AI and visual data processing to achieve end-to-end low latency. The Smart Roadside Computing Unit is powered by Intel® Xeon® D-2100 processors, delivering Intel’s ground-breaking data center processor architecture in a form factor optimized for cloud edge computing solutions. It brings the architectural innovations of the Intel Xeon Scalable platform to a system-on-a-chip (SoC) processor for low-power, high-density, small footprint solutions, integrating essential network, security, and acceleration capabilities. The AI and visual data processing in the Smart Roadside Computing Unit is accelerated by Intel®
Myriad X Visual Processing Unit (VPU) and OpenVINO toolkit.
Accelerating Innovation and Transformation
5G SA Core Network is an important element for mobile core network transformation to support next wave of 5G services. ASTRI 5G SA core network, as pure software-based implementation, verified the suitability on high-volume platforms with Intel® Xeon® Scalable processors, to deliver outstanding performance and flexibility to allow quick time-to-market roll outs. Intelligent sensing and low latency communications using a C-V2X solution at the roadside (network edge) play an important role in shaping next generation roadside Infrastructure and smart mobility services.
Dr. Justin Chuang, VP of Next Generation Network at ASTRI: “ASTRI and Intel have mutual interests in network transformation since our collaboration on 4G EPC/C-RAN and virtualization. Thanks to Intel, and as we are moving into the 5G era, the combinations of wireless, network, computing and intelligence to enable 5G and C-V2X applications shall be increasingly important. It’s exciting to see the collaboration with Intel getting deeper, wider and more impactful in 5G + C-V2X + AI to drive forward success in innovation and transformation.”
Caroline Chan, Vice President and General Manager of the Network Business Incubator Division at Intel: “Network transformation, AI and edge computing are converging to create some of the most amazing innovations we’ve seen in decades. Together with research leaders like ASTRI, Intel technology will fuel the next-generation of AI-powered applications and 5G-ready communications networks.”
Looking forward, it is expected to see more sensors on the roadside infrastructure to collect massive data and be transferred via 5G. Smart mobility applications will process the data at roadside edge and provide fast response to C-V2X enabled road users.
At Mobile World Congress Shanghai 2019, ASTRI will demonstrate our collaborations with Intel on 5G SA Core and Edge AI for roadside infrastructure in ASTRI booth [N1.D130].
Mobile World Congress Shanghai is Asia’s Leading Event for Next-generation Technology – 5G, IoT, AI, Big Data and Beyond. MWC Shanghai has over 60,000 attendees and over 550 participating companies. Mobile World Congress (MWC) Shanghai 2019 will take place from Jun 26-28 in Shanghai New International Expo Centre, Shanghai, China.
SOURCE Hong Kong Applied Science and Technology Research Institute (ASTRI)
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.
Photo: https://mma.prnewswire.com/media/2558072/Al_Baladi_Holding_Group.jpg
Photo: https://mma.prnewswire.com/media/2558073/Al_Baladi_Holding_Group_1.jpg
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.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Photo – https://mma.prnewswire.com/media/2559070/Image.jpg
Logo – https://mma.prnewswire.com/media/2267288/5029737/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-crypto-titans-november-arena-boasts-55-000-usdt-in-rewards-302307028.html
-
Fintech5 days agoFintech Pulse: Industry Innovations and Partnerships Drive Global Fintech Forward
-
Fintech4 days agoFintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation
-
Fintech PR7 days agoStatement From Universal Music Group N.V.
-
Fintech PR2 days agoUniversal Consulting Opportunities (UCO), a Stellar MLS Subsidiary, Signs Agreement with NAR India As Advisor to Develop a National MLS
-
Fintech PR3 days agoCayman Enterprise City Receives Two Prestigious Awards from the Financial Times’ fDi Intelligence Global Free Zones of the Year 2024
-
Fintech PR2 days agoNoble Corporation plc announces submission of request for removal from trading and official listing on Nasdaq Copenhagen
-
Fintech PR2 days agoDC to VC – NatWest Cushon and Future Planet Capital Lead the Charge in UK Pension Access to British Innovation
-
Fintech PR2 days agoBlockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals