Fintech PR
Global Dialogue on AI-Led Innovation, Governance, and Impact on Humanity Continues on Day 2 of GAIN Summit 2024
RIYADH, Saudi Arabia, Sept. 12, 2024 /PRNewswire/ — Day two of the Global AI Summit (GAIN) continued to address themes on AI-led innovation, governance, policymaking, and the impact of the technology on humanity.
The second day of GAIN 2024 commenced with a keynote speech from Antony Cook, Corporate Vice President and Deputy General Counsel at Microsoft, on “AI Governance: Principles to Promote Responsible AI and Access”. His speech set the agenda for the day, which centered on the pressing need for a comprehensive AI framework that promotes the ethical and responsible use of this transformative technology.
It was followed by a high-level panel discussion titled “The Governance Roundtable: Stakeholder Representation and Decision-Making Dynamics,” featuring industry leaders, including Priya Nagpurkar, Vice President of IBM Research and Alan Qi, President of Huawei Cloud Middle East & Central Asia.
Panelists discussed the importance of establishing a global AI governance code, aligning with the summit’s theme – Artificial Intelligence for the Good of Humanity. They emphasized that AI governance is pivotal in balancing the benefits and risks associated with these technologies and highlighted the urgent need for robust infrastructure to facilitate access to communication networks and AI services globally. Additionally, they stressed the importance of cultivating a deeper societal understanding of AI ethics, advocating for clear policies that promote transparency, ethical use, and sustainability in business operations.
Day two also focused on AI’s transformative potential in employment, sports and healthcare.
Hosted by the Saudi Data and AI Authority (SDAIA), GAIN has established itself as a global event that fosters collaborations between local and international stakeholders.
Noteworthy announcements on the second day included:
Huawei: SDAIA and Huawei signed a Memorandum of Understanding (MoU) to establish a program for training and developing talent in ICT and AI, enabling them to lead the future of technological innovation in Saudi Arabia. They also plan to launch a joint promotional campaign to introduce AI technologies to society through AI publications, social media platforms, and events.
ICESCO: The Islamic World Educational, Scientific and Cultural Organization (ICESCO) and SDAIA unveiled the Riyadh Charter for Artificial Intelligence for the Islamic World. This charter aims to advance ethical AI. It establishes a comprehensive framework for developing AI technologies that align with the values and principles of the Islamic world, while promoting sustainable development and fostering international cooperation.
Deepfakes: SDAIA launched an official guidelines document to demonstrate how to responsibly and ethically optimize the use of AI tools, particularly deepfakes. The initiative aims to empower stakeholders to harness the positive potential of deepfake technologies while clearly identifying their associated risks. The guidelines are now open for public consultation.
Thakai: SDAIA also launched the “Thakai” platform, a first-of-its-kind integrated AI data and content sharing knowledge hub, designed to unite AI experts and enthusiasts around the world. The new platform has been developed in partnership with prestigious academic institutions, think tanks, and global companies, including UC Berkeley, King Saud University, Chatham House, the International Data Corporation (IDC), and PwC.
Pearson: SDAIA and Pearson signed an MoU to advance AI capabilities and nurture digital talent in Saudi Arabia. The partnership aims to develop vocational qualifications specifically tailored to the AI and digital sectors. Additionally, it outlines the creation of digital certifications to empower individuals, enhancing their employability and career advancement opportunities in the rapidly expanding tech industry.
By hosting this third edition of the summit, SDAIA has demonstrated its commitment to advancing innovation, contributing to the nation’s economic diversification objectives as outlined in Vision 2030.
View original content:https://www.prnewswire.co.uk/news-releases/global-dialogue-on-ai-led-innovation-governance-and-impact-on-humanity-continues-on-day-2-of-gain-summit-2024-302246107.html
LIMASSOL, Cyprus, Sept. 20, 2024 /PRNewswire/ — Ultima Markets, a leading global forex and CFDs brokerage, is thrilled to announce its double success at the prestigious Global Forex Awards – Retail 2024. The company won two distinguished awards: “Best Affiliates Brokerage – Global” and “Best Fund Safety – Global.”
The awards were presented during the event in Limassol, Cyprus, where Jean Philippe, Board Advisor, Corporate Governance and Sustainability at Ultima Markets, accepted the honours.
The Global Forex Awards – Retail has celebrated excellence in trading innovation for seven consecutive years. Ultima Markets’ dual wins reflect its commitment to quality, client-centric strategies, and strong partnerships across the financial services sector.
The “Best Affiliates Brokerage—Global” award recognises Ultima Markets’ exemplary affiliate programme, which has successfully driven its global expansion. It is celebrated for its transparency and competitive rewards tailored to affiliate needs.
Receiving the “Best Fund Safety – Global” award highlights Ultima Markets’ efforts to safeguard client assets. Through its partnership with Willis Towers Watson, the company provides up to USD$1,000,000 in insurance per account, while its Financial Commission membership ensures clients access to up to €20,000 in compensation funds.
These recognitions underscore Ultima Markets’ priority to security and transparency, including segregated accounts and robust risk management practices. The broker also assures affiliate partners of exceptional standards.
Commenting on the awards, Jean Philippe said, “These recognitions reflect the exceptional work of our teams to ensure the safety of traders’ funds and our dedication to creating value for our partners and clients. We will continue to evolve and innovate to meet the market’s demands.”
Ultima Markets is renowned for its extensive range of trading products and personalised customer service, designed to meet clients’ diverse needs worldwide. The dual recognition marks a significant milestone in the company’s global growth and reaffirms its reputation for delivering fund safety and robust affiliate opportunities.
“We are delighted to be recognised with these awards, which reflect our mission to create a secure trading environment and build strong, rewarding partnerships,” said Jack Li, Ultima Markets’ Regional Business Director.
About Ultima Markets
Ultima Markets is a fully licensed, fast-growing broker offering access to 250+ financial instruments. With a team of 2,000+ professionals in 15 global offices, we serve clients in 172 countries. Check out more about our awards on Facebook, X, Instagram, LinkedIn and YouTube.
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View original content:https://www.prnewswire.co.uk/news-releases/ultima-markets-wins-two-prestigious-awards-at-global-forex-awardsretail-2024-302253644.html
Fintech PR
EQT to acquire Indostar Home Finance, an Indian affordable housing finance company, for INR 17.5 billion (USD 210 million) and invest INR 5 billion to support further growth
STOCKHOLM, Sept. 19, 2024 /PRNewswire/ —
- Indostar Home Finance is a fast-growing affordable housing finance company with INR 24 billion (USD 286 million) in assets under management, that has supported over 39,000 low income homeowners and small businesses
- India’s INR 30 trillion housing finance market presents a multi-decade growth story driven by strong government support, rising affordability and urbanization
- EQT will invest INR 5 billion in primary capital to support Indostar Home’s continued growth, including by broadening its footprint across India and investing in digital capabilities
EQT is pleased to announce that the BPEA Mid-Market Growth Partnership (or “the MMG fund”) has agreed to acquire a 100% stake in Indostar Home Finance (or “the Company”), a wholly owned subsidiary of Indostar Capital Finance Limited, for INR 17.5 billion (USD 210 million).
Founded in 2017, Indostar Home Finance provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has supported over 39,000 low income homeowners and small businesses. The Company has rapidly scaled to more than INR 24 billion in assets under management, achieving a 32 percent compounded annual growth in the last three years. Indostar Home Finance has a network of more than 130 branches spread across nine states and employs over 1,000 people.
The Indian housing finance market currently stands at more than INR 30 trillion, according to the CRISIL. The segment has recorded strong growth driven by government support, rising affordability, and urbanization. However, there remains a significant shortage of housing in the country, with India’s mortgage to GDP ratio at 12.3% compared to more than 60% for developed countries like the USA and UK.
The MMG fund will invest INR 5 billion of primary capital in Indostar Home Finance to support its next phase of growth. EQT aims to expand the Company’s geographic footprint and accelerate its digital transformation journey by leveraging EQT’s in-house digitalization expertise, network of seasoned industry advisors, and expertise in go-to-market strategies.
Ashish Agrawal, Partner in the EQT Private Capital Asia advisory team, said: “Retail lending is a key investment theme for EQT within financial services in India. Building on our investment in the education finance sector through HDFC Credila last year, we are thrilled to welcome Indostar Home Finance to our portfolio. India’s affordable housing finance sector represents a long-term growth opportunity supported by secular demand drivers, favorable government policies and resilient asset quality across economic cycles”
Hemant Sharma, Managing Director in the EQT Private Capital Asia advisory team, said: “Indostar Home Finance has established itself as a leading player in this segment and is well-positioned for continued growth. We are impressed by its market-leading position in South India and strong underwriting capabilities. We see significant potential to expand Indostar’s presence across India and drive its digital transformation. EQT looks forward to supporting the company in its next phase of growth.”
Mr. Shreejit Menon, CEO of Indostar Home Finance, said: “This transaction marks a key milestone for Indostar Home Finance. We are excited to embark on this new journey with EQT, who shares our vision and whose partnership will significantly help advance our mission of delivering affordable housing finance solutions across India. With EQT’s support and global expertise, we are well-positioned for accelerated growth and success.”
The transaction is subject to customary regulatory approvals.
Contact
EQT Press Office, [email protected]
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LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.
From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.
Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.
The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!
What’s next?
The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.
Media Contacts:
Alice Nahon
PR Officer
[email protected]
Anne-Laure TRONC
Press Relation Manager
[email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/worldskills-lyon-2024-talented-winners-long-lasting-legacy-302253405.html
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