Fintech PR
APICORP Rebrands as The Arab Energy Fund, Unveils New Strategy and Plans up to $1bn to Drive Energy Transition Including Decarbonization Technologies
- APICORP unveiled its new identity The Arab Energy Fund at COP 28, ushering in a visionary 2023-2028 strategy and up to US $1 billion in planned investments in energy transition including decarbonization technologies.
- The new strategy marks the convergence of the institution’s evolution and 50-year legacy, positioning it as a pioneering impact investor/fund within the new energy sector.
- The planned investment of up to US $1 billion is part of the institution’s focus on energy transition and decarbonization and related technologies to support the shifting energy landscape towards a net-zero world.
DUBAI, UAE, Dec. 5, 2023 /PRNewswire/ — The Arab Petroleum Investments Corporation (APICORP), a multilateral impact financial institution focused on the MENA energy sector, is embarking on a transformative journey with its visionary 2023-2028 strategy and a new name, signaling a redesigned business approach focused on long-term growth and impact. This strategic shift includes a planned investment of up to US $1 billion over the next five years towards advancing energy transition with a focus on decarbonization and related technologies, announced during COP 28.
The institution’s rebrand as The Arab Energy Fund, aligns with its deep commitment to playing an active role in supporting the MENA’s energy landscape transition towards a net-zero future. This evolved strategy represents the institution’s natural progression as a pioneering impact investor, with focused verticals for investing in the energy sector including decarbonization and related technologies as a key vertical, effectively balancing energy security and sustainability.
Aligned with this strategy, the institution will rebalance its overall portfolio with continued loan growth and an enhanced focus on equity investments while continuing to innovate to expand its range of financing and direct equity solutions and expert advisory services.
During COP 28, where The Arab Energy Fund is showcasing its role as a climate supporter in the Green Zone’s Energy Transition Hub, Khalid Ali Al-Ruwaigh, CEO of The Arab Energy Fund, unveiled the new name and strategy.
He remarked: “APICORP’s (now known as The Arab Energy Fund) transformative strategy marks the institution’s next chapter, deeply rooted in our 50-year legacy and our distinctive role in the MENA energy sector. It highlights our commitment to impact-driven solutions, leveraging our deep industry expertise and regional access to enable the evolving energy landscape towards a net-zero world. Our strategy involves diversifying investments by championing technological advancements for enhanced energy efficiencies and driving sustained decarbonization efforts. Additionally, we are extending our investment scope beyond the core value chain, actively cultivating and shaping value chains within the region.”
He added: “Our new strategy and name signify not only our dedication to empowering the region’s energy ecosystem but also resonate with our mission to create a meaningful impact by promoting economic growth, boosting local value chains and local content, through skill development, and fostering knowledge creation.”
Following the establishment of its green bond framework in 2021, the institution set a precedent in sustainable finance by issuing the first-ever green bond issuance by an energy-focused financial institution in the MENA region. The US-denominated five-year benchmark issuance raised an impressive US $750 million, over US $610 million of which has already been allocated to 11 projects in the region.
Currently, 18% of the institution’s US $4.5 billion existing loan portfolio, is dedicated to supporting environmentally and socially responsible initiatives, fostering collaboration between the public and private sectors, and pioneering a path toward more sustainable financing.
The Arab Energy Fund is also in the process of enhancing its ESG Policy Framework, also introduced in 2021, demonstrating the institution’s strong commitment to incorporating responsible business practices into its operations. This effort reflects the institution’s leadership in shaping a more sustainable and responsible future for all.
As the MENA region’s only multilateral impact financial institution, The Arab Energy Fund is also committed to backing the 2050 net zero commitments made by its member countries. The institution has publicly affirmed the imperative need for collective climate action to align with the significant goals laid out in the UN Paris Agreement.
In line with this commitment, the institution introduced several innovative financial solutions that are considered regional firsts, including its pioneering US $75 million Murabaha facility for voluntary carbon offsets and financing of distributed power portfolios.
The Arab Energy Fund stands among the highest-rated financial institutions in the MENA region, boasting ‘AA’ rating from Fitch, alongside ‘Aa2’ from Moody’s and ‘AA-‘ from S&P. This strong endorsement from the rating agencies and the robust regional support from member countries, along with substantial backing from the region’s energy ministries, underpinned by strong liquidity and credit profiles, positions the institution as a key player in championing a pragmatic and sustainable energy future.
ABOUT The Arab Energy Fund
The Arab Energy Fund – formerly the Arab Petroleum Investments Corporation (APICORP) – is a multilateral impact financial institution focused on the MENA energy sector established in 1974 by the ten Arab oil-exporting countries. The Arab Energy Fund’s mission is to enable a secure and sustainable energy future for the region through a comprehensive range of financing and direct equity solutions and expert advisory services across the entire energy value chain to leading public and private sector business partners in 25 countries. The Arab Energy Fund applies best-practice ESG principles across all operations, with environmental and socially-linked projects comprising 18% of its US $4.5 bn loan portfolio. The Arab Energy Fund is the only energy-focused financial institution in the MENA region rated ‘Aa2’ by Moody’s, ‘AA’ by Fitch and ‘AA-‘ by S&P.
View The Arab Energy Fund’s ESG Policy Framework here.
For more information about The Arab Energy Fund, please visit: www.apicorp.org
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Fintech PR
Bybit Web3 Wallet Integrates Tonstakers: The First of Its TON Staking Offerings to Expand DeFi Opportunities
DUBAI, UAE, Dec. 27, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange,is excited to announce the integration of Tonstakers, the leading liquid staking protocol on the TON blockchain, into its Web3 Wallet. This marks the first of Bybit Web3’s TON staking offerings, reinforcing its commitment to expanding decentralized finance (DeFi) opportunities for its users.
With this integration, Bybit Web3 Wallet users can now seamlessly stake Toncoin ($TON) and receive $tsTON (Tonstakers LST) in return. The value of $tsTON increases relative to $TON every 26 hours, ensuring competitive rewards while contributing to the growth and success of the TON ecosystem. The integration also opens the door for 130 million users in the TON ecosystem to access TON staking directly within the Bybit Web3 Wallet.
Bybit is dedicated to simplifying DeFi adoption by providing intuitive and user-friendly staking experiences. This milestone partnership with Tonstakers enables users to unlock annual returns estimated between 3% and 5% APY, with rewards automatically compounded, further cementing Bybit’s role as a leader in DeFi accessibility.
Why Tonstakers Matters: The First of Its Kind
Tonstakers is the inaugural partner in Bybit Web3’s TON staking initiative, setting a new standard for staking services. With a total value locked (TVL) exceeding $260 million and a significant market share in the liquid-staked TON sector, Tonstakers offers Bybit Web3 Wallet users unparalleled access to TON staking benefits:
- Effortless Staking: Securely stake $TON with ease, thanks to the user-friendly interface within the Bybit Web3 Wallet.
- Earn $tsTON Rewards: Receive tokenized staked Toncoin ($tsTON), which can be leveraged within DeFi applications across the TON ecosystem.
- Explore DeFi Liquidity: Engage with Tonstakers Earn to provide liquidity using $tsTON, unlocking diverse earning opportunities.
“Bybit Web3 is proud to deepen our integration with the TON blockchain, a crucial step in our mission to foster a thriving and interconnected Web3 ecosystem,” said Emily Bao, Head of Bybit Web3. “This integration empowers our users with seamless and trusted access to TON liquid staking pools and unlocks valuable earning opportunities. As a strong believer in DeFi adoption, Bybit Web3 is committed to bridging the gap between Web2 and Web3, creating simple, easy, and accessible solutions that bring the benefits of decentralized finance to a wider audience. We believe this integration will significantly contribute to the growth and success of the TON ecosystem.”
Start Staking Today To begin staking your $TON and earning with $tsTON, visit https://www.bybit.com/en/web3/staking and discover the power of Bybit Web3 Wallet’s integration with Tonstakers. Bybit Web3 Wallet currently supports a wide range of staking services beyond TON tokens, including ETH, USDT, USDC, bbSOL, SUI, and more.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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LAS VEGAS, Dec. 27, 2024 /PRNewswire/ — Yaber reported a remarkable 100% year-over-year sales surge during Black Friday. The T2 outdoor projector, featuring a built-in battery and handle-to-stand design, ranked among Amazon’s Top 3 “Most Wished For” list. Meanwhile, the L2s projectors, available in exclusive Pantone colors, sold out shortly after launch.
Yaber T2 projector is currently available at Christmas sale on Amazon and the official Yaber website. Meanwhile, pre-orders for the L2s projectors in exclusive Pantone colors will reopen in mid-January 2025.
This year, Yaber further expanded its global retail presence, debuting at the iconic Selfridges in the UK and securing placements in MediaMarkt across EMEA, Canada’s London Drugs, Saudi Arabia’s EXTRA, Belgium’s FNAC, Greece’s PUBLIC, Czech Republic’s Datart, Japan’s Bic Camera and Yodobaxi, and Malaysia’s premier IOI City Mall and Plaza Low Yat.
Looking ahead, Yaber is set to unveil its first ultra-short-throw laser projector and a new Keith Haring-inspired entry-level model at CES 2025. The launch event will take place at 4:00 PM PST, January 6, 2025 at Caesars Palace, Las Vegas. Visit Yaber’s booth in South Hall 1-30808 at Las Vegas Convention and World Trade Center (LVCC) from January 7-10 to discover more.
About Yaber
Founded in 2018, Yaber redefined home entertainment by introducing the world’s first entertainment projector, pioneering a new category in the industry. Today, its innovative projectors have delivered immersive experiences to users in over 120 countries, making Yaber a trusted name in global home entertainment.
The letter “Y” in Yaber embodies the youthful vigor and innovative spirit of Generation Y. It’s not just a symbol, but a unique representation of youth identity and attitude towards life, infusing the brand with rich cultural connotations of youthfulness within simplicity.
Committed to excellence, Yaber has been pushing the boundaries of audiovisual innovation, crafting projectors that inspire richer, more vibrant lifestyles. Its achievements are recognised with prestigious accolades, including the Red Dot, IDEA, VGP, and CES Innovation Awards.
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Fintech PR
Xinhua Silk Road: Conference on deepening financial openness and co-op in Northeast Asia held in NE. China’s Shenyang
BEIJING, Dec. 27, 2024 /PRNewswire/ — The 2nd Northeast Asia Finance Conference and 2024 “Revitalizing Liaoning with Finance” Excellent Cases Release kicked off on Tuesday in Shenyang, capital of northeast China’s Liaoning Province, aiming to further deepen financial openness and cooperation in the Northeast Asian region and advance construction of a regional financial center.
The main forum held a series of activities, including an opening ceremony, two round-table dialogues on “finance + biomedical industry” and “finance + cultural industry”, a symposium for foreign financial institutions, a seminar on innovative development of financial clusters, a forum on development of technology and finance, a forum on industrial low-carbon transformation and financial innovation, as well as an enterprise project roadshow and industry-finance matchmaking event.
During the conference themed on “accelerating the construction of a regional financial center in Northeast Asia and creating a new highland for opening up”, excellent cases of revitalizing Liaoning through finance in 2024 were unveiled and the index for core areas of regional financial centers in northeast China was released.
The conference also held an unveiling ceremony for the upgrading of the Shenyang finance and trade development zone to a national-level development zone, and a launch ceremony of a platform for Shenyang industrial insights and decision analysis.
The conference was co-hosted by China Economic Information Service, Liaoning Branch of Xinhua News Agency, Shenhe District People’s Government, Shenyang local financial administration under guidance of Shenyang Municipal People’s Government and Liaoning local financial supervision and administration bureau.
Original link: https://en.imsilkroad.com/p/343777.html
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