Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech PR

IFTAS Announces the Appointment of Shri. T. Rabi Sankar as Chairman and Dr. N Rajendran as Chief Executive Officer

Published

on

 

IFTAS, a wholly-owned subsidiary of Reserve Bank of India announces the appointments of Shri. T Rabi Sankar as the Chairman and Dr. N Rajendran as the CEO of the organization effective May 15, 2020 and May 27, 2020 respectively.

Shri. T Rabi Sankar, currently serving as Executive Director, Reserve Bank of India for Payment systems, Information Technology, Risk Management and Fintech has taken over concurrent charge, ex officio, as the Chairman of IFTAS. Shri Sankar, who has an M.Phil. (Economics) degree, has long experience across a wide spectrum of central banking functions, particularly, exchange rate management, reserves portfolio management, public debt management, monetary operations, development, regulation and surveillance of financial markets and of payment systems and managing the Bank’s IT infrastructure. He is a member of important committees that include Internal Study Group to Review the Working of the Marginal Cost of Funds Based Lending Rate System, Working Group to Review the Guidelines for Hedging of Commodity Price Risk by Residents in the Overseas Markets, Expert Committee on Integration of Commodity Spot and Derivative Markets (established by the Government of India), Working Group on Establishing Viable Capital Markets (established by the Bank for International Settlements or, BIS) and Working Group on Dollar Funding Markets (BIS). During 2005-2011, he served as the IMF consultant to the Government and Central Bank of Bangladesh on developing government bond markets and restructuring the debt management process. During 2008-2014, he worked in the Ministry of Finance, Government of India on deputation.

Commenting on his appointment, Shri Sankar said, “I am privileged to be appointed as the Chairman of IFTAS which has been managing critical payment system infrastructure of the country.”

Dr. N Rajendran, who has joined IFTAS as the Chief Executive Officer, is a leading expert in the field of Payments & Banking Systems and holds a Ph.D. in computer science. With an outstanding track record in strategizing, people and technology management, cybersecurity, administration, thought leadership and project & business execution, Dr. Rajendran has consistently excelled and succeeded in delivering at multiple technical leadership positions for over 20 years of his industry presence and experience. In his previous roles in various capacities, Dr Rajendran has conceptualised, implemented and operationalized National Financial Switch (NFS) and Cheque Truncation System (CTS), Immediate Payment Service (IMPS), National Automated Clearing House (NACH), Aadhar Enabled Payment System (AEPS), etc. He has played a major role in transforming India into a digitally empowered society and knowledge economy along with being the chief architect in creating and implementing ground-breaking systems such as Unified Payments Interface (UPI).

Speaking on the occasion, Dr. N Rajendran said,” I am honoured to be a part of this prestigious organization which has been managing the systemically important payment infrastructure of our country. I am looking forward to work closely with Reserve Bank of India and the Payment Ecosystem for widening the digital payment footprint and ensuring inclusive growth across the country and globally.”

Fintech PR

WSPN Partners with Viction and Ninety Eight Ecosystem to Boost WUSD Adoption and Expand Market Reach

Published

on

wspn-partners-with-viction-and-ninety-eight-ecosystem-to-boost-wusd-adoption-and-expand-market-reach

SINGAPORE, Nov. 5, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN) is excited to announce a strategic partnership with Viction, a global Layer-1 blockchain that empowers builders at every level through accessible and scalable infrastructure, along with holistic guidance. In collaboration with the Ninety Eight (formerly known as Coin98) ecosystem, this partnership aims to expand WUSD’s reach, strengthening its role as a stable and accessible digital asset across the evolving Web3 landscape. Together, WSPN, Viction, and Ninety Eight will enhance interoperability, boost liquidity, and drive local market adoption, with a strong focus on growth in emerging markets.

Expanding WUSD as a Native Stablecoin on Viction

WSPN will deploy WUSD natively on Viction, supporting integration across Web3 applications and enhancing liquidity for users and developers. With WUSD as a core asset, Viction’s ecosystem will foster secure, stable transactions, empowering dApps, protocols, and platforms with increased interoperability and cross-chain functionality.

Market Expansion, CEX Listings, and Joint Community Outreach

To expand WUSD’s presence in Vietnam, Viction will tap into its resources alongside the Ninety Eight ecosystem to drive local adoption through strategic partnerships and collaborative community outreach. Listing WUSD on major centralized exchanges will increase accessibility, reaching a broader audience. This joint effort benefits both WSPN and Viction, with WUSD enhancing visibility for Viction’s technology and ecosystem, while Viction’s strong local network and Ninety Eight’s established connections boost WUSD’s growth. Through initiatives like webinars, ambassador programs, and developer workshops, the partnership will engage the community and build a lasting foundation, fostering an understanding of both WUSD’s value and Viction’s strengths.

Collaborative Responsibilities and Support

WSPN will oversee WUSD’s deployment on Viction and foster collaborations within its ecosystem, while Ninety Eight and Viction will support liquidity management, integrating WUSD into the Coin98 Super Wallet and strengthening infrastructure to ensure effective interoperability. Marketing initiatives led by WSPN and Viction will drive awareness and engagement for both ecosystems, reaching institutional audiences and building lasting adoption across the region.

Together, WSPN, Viction, and Ninety Eight are setting a new standard for collaboration in the Web3 space: Uniting technology, community, and accessibility to create a robust ecosystem. By empowering local markets and driving sustainable growth, this partnership is paving the way for a more inclusive, innovative blockchain future. The journey is only beginning, and the potential is limitless.

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Advertisement

Learn more: www.wspn.io | X | LinkedIn

About Viction

Viction is a global layer-1 blockchain that empowers builders at every level, provides both the foundation and enhancements necessary for projects to achieve stability and soar to their higher selves.

Viction provides seamless interoperability, scalability, flexible development, zero gas fees, enhanced security, and speed to enable builders with tech capabilities.

Beyond technical advantages, Viction offers holistic guidance through consultation, resources, funding, and strong network connections to foster project growth.

About Ninety Eight

Ninety Eight is an ecosystem of innovation companies with a shared mission to enable and empower human potential. They found and fund blockchain companies that make Web3 accessible for everyone.

Logo – https://mma.prnewswire.com/media/2429245/WSPN_logo_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/wspn-partners-with-viction-and-ninety-eight-ecosystem-to-boost-wusd-adoption-and-expand-market-reach-302296318.html

Continue Reading

Fintech PR

The Adecco Group: Q3 2024 RESULTS

Published

on

the-adecco-group:-q3-2024-results

Robust performance in challenging markets; volumes stabilising

ZURICH, Nov. 5, 2024 /PRNewswire/ —

  • Revenues -5% yoy organic TDA, -3% yoy organic, a solid result given market conditions, high comparison base; volumes stabilising
  • By GBU, Adecco -5%, with good results across Asia, Iberia, EEMENA, LatAm outweighed by challenging markets, particularly in France, US; Akkodis -5%, with Consulting +2%; LHH -7%, with Recruitment Solutions stable qoq
  • Resilient 19.4% gross margin, sequentially flat, reflecting lower volumes, current business mix, firm pricing
  • SG&A expenses improved to €925 million, -5% yoy, with G&A -10% yoy and at 3.2% of revenues
  • Robust 3.3% EBITA margin, reflecting strong G&A savings, selective protection of sales and delivery capacity
  • Operating income €162 million; Net income €99 million; Basic EPS €0.59; Adjusted EPS €0.68
  • Operating cash flow +€121 million, weighed by timing differences; Free cash flow +€117 million YTD, higher yoy
  • Continued delivery of Simplify-Execute-Grow agenda:
    • G&A savings run-rate end-24 lifted to €171 million
    • Reprioritised IT/digital plan: accelerating AI adoption, expanding Global Delivery to improve fill rates, time-to-fill
    • Strong track record of market share gains; relative revenue growth, reported, +850 bps since introduction of Simplify-Execute-Grow (Q3 22), and +290 bps YTD 

Denis Machuel, Adecco Group CEO, commented:

“We continue to successfully deliver on our Simplify, Execute, Grow plan and third quarter performance was robust, against a high comparison base. The macroeconomic environment remains challenging, but I am encouraged to see that volume trends have stabilised.

We made further G&A savings in the quarter, allowing us to lift the year-end run-rate. We have reprioritised our IT/digital plans to accelerate AI adoption, and to expand Global Delivery to our top 25 customers. This will boost recruiter productivity and improve fill rates and time-to-fill, supporting profitable growth. We remain focused on capturing market share, building on strong progress over the last two years, and have positioned resources to capture growth opportunities as the market recovers.”

Full Press Release

Webcast Details | Investors & Analysts

Investor Relations
[email protected]
+41 (0)44 878 88 88

Logo – https://mma.prnewswire.com/media/2350635/The_Adecco_Group_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/the-adecco-group-q3-2024-results-302295866.html

Continue Reading

Fintech PR

DAMAC International Expands Presence in APAC with New Office in Hong Kong

Published

on

damac-international-expands-presence-in-apac-with-new-office-in-hong-kong

Strategic launch to cater to the growing demand for luxury real estate across Asia-Pacific

HONG KONG, Nov. 5, 2024 /PRNewswire/ — DAMAC International, a global leader in luxury real estate, has officially opened its new office in Hong Kong, marking its third office in the Asia-Pacific (APAC) region. This expansion is part of DAMAC’s broader vision to strengthen its presence in one of the world’s fastest-growing regions, renowned for its rapid investment growth. The Hong Kong office is a strategic gateway to the APAC market. It allows DAMAC to better serve its expanding clientele by offering direct access to its prestigious properties in Dubai and other international locations, such as London and Miami.

The Hong Kong office will provide investors across the region access to personalised services, offering exclusive insights into DAMAC’s luxury residential towers, branded residences, and lifestyle communities. As demand from the APAC region continues to rise, DAMAC is poised to offer high-end real estate investment opportunities that cater to the needs of discerning clients.

Talking about the opening, Abbas Sajwani, Board Member, DAMAC International, stated: “This is yet another milestone in our expansion into the APAC region. The new office will allow us to be closer to our clientele. It is a testament to our belief in the region’s potential and commitment to providing top-tier investment opportunities in luxury development.”

By establishing this new office, DAMAC continues positioning itself as a leading player in the global real estate market. It further strengthens its ability to connect with clients to provide unparalleled luxury investment opportunities for long-term value.

About DAMAC International

DAMAC International has been at the forefront of the Middle East’s luxury real estate market since 2002, delivering award-winning residential, commercial and leisure properties across the region and internationally, including in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the United States, as well as the United Kingdom.

Advertisement

Since then, the company has delivered more than 47,000 homes with over 40,000 more in diverse planning and development phases. Joining forces with some of the world’s most eminent fashion and lifestyle brands to create tremendous living experiences, such as with Versace, Roberto Cavalli, or de GRISOGONO. With a consistent vision and momentum, DAMAC is building the next generation of luxury living across the globe.

Live the Luxury.

Visit us at www.damacgroup.com 

Photo: https://mma.prnewswire.com/media/2548365/DAMAC_International_Hong_Kong.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/damac-international-expands-presence-in-apac-with-new-office-in-hong-kong-302295571.html

Continue Reading

Trending