Fintech PR
Education Cannot Wait High-Level Mission in Ethiopia Calls for Bold Innovative Financing Solutions to Urgently Address the Education Needs of 9 Million Crisis-Affected Out-of-School Children
During the mission, a new US$5 Million ECW First Emergency Response grant was announced, bringing Education Cannot Wait’s total investments in the country to US$93 Million.
NEW YORK, Dec. 9, 2024 /PRNewswire/ — At the conclusion of a joint high-level mission in Ethiopia, Education Cannot Wait (ECW) Global Champion and Danish Minister of Finance Nicolai Wammen, together with ECW Executive Director Yasmine Sherif, called for bold donor action to step up new and innovative financing solutions to deliver quality education for millions of children caught in crises in Ethiopia and beyond.
An estimated 9 million children are out-of-school across Ethiopia today due to ongoing violence, climate-induced disasters and widespread forced displacement – a staggering threefold increase from 2022. Close to 18% of schools in the country have been destroyed or damaged. Ethiopia also hosts the third largest refugee population in Africa, with over 200,000 new arrivals from Sudan and Somalia in 2023-2024 alone, further increasing pressure on existing resources.
ECW’s high-level delegation travelled to the Tigray region, which is recovering from a 3-year conflict that brought education to a complete halt. The delegation visited schools benefitting from funding by ECW and strategic partners, and met children, parents and teachers. The delegation saw first-hand the impact of ECW-supported programmes implemented by UN and international and local civil society partners – including UNICEF, Norwegian Refugee Council, Save the Children and Imagine1Day – in close collaboration with the government. In one school alone, enrollment increased by an impressive 20% last year thanks to a comprehensive package of interventions funded by ECW.
“The education crisis in Ethiopia is one of the largest silent crises in the world today. Yet, we are seeing impressive impact of ECW’s investments. The passion for learning among both girls and boys was very evident. We now need to support them and urgently appeal to strategic donor partners for additional financing,” said Yasmine Sherif, Executive Director of Education Cannot Wait, the global fund for education in emergencies and protracted crises in the United Nations.
During the mission, Sherif announced a new US$5 million First Emergency Response (FER) grant, bringing ECW’s total investments in Ethiopia to over US$93 million since 2017. The new FER grant, implemented by UNICEF (US$4 million) and the local organization Imagine1Day (US$1 million) together with their consortium partners, aims to address urgent needs in the Oromia and Afar regions, where renewed conflict, intercommunal violence, drought and displacement have further disrupted education services in recent months. These emergency interventions will build on the US$24 million Multi-Year Resilience Programme announced last month by ECW, targeting needs in the Amhara, Somali and Tigray regions.
“It is heartwarming to witness the life-transforming power of quality education in the most complex crisis situations. I met strong and resilient girls and boys who are returning to learning, healing and thriving thanks to ECW’s support. However, conflicts, climate change and other crises continue to push millions of children out of school every year – in Ethiopia and beyond. Business as usual will not meet this challenge. I encourage private sector partners to join ECW’s efforts and invest in new and innovative financing strategies to fill the widening gap,” said Nicolai Wammen, Minister of Finance, Denmark, and ECW Global Champion.
To date, ECW’s combined multi-year and emergency investments in Ethiopia have reached more than 550,000 children and adolescents, providing a comprehensive range of supports.
“UNICEF Ethiopia and partners are very grateful for the continued and dedicated support of ECW. Children belong in the classroom and thanks to ECW, children are learning and playing in a safe environment across the country,” said Dr. Aboubacar Kampo, UNICEF Representative in Ethiopia.
“Imagine1Day is deeply grateful for this ECW First Emergency Response grant. With this generous support, we will provide over 13,000 out-of-school children in the Afar region – 60% of whom are girls and 13% are children with disabilities – with access to safe learning environments. This project will not only enhance their well-being but also empower them to reach their full potential. Given that education in emergencies in Ethiopia has been severely underfunded, this grant is crucial in ensuring that crisis-affected children receive the education and support they need to build a brighter future,” said Dr. Seid Aman, Country Director of Imagine1Day.
ECW’s investments are aligned to the Ethiopia Humanitarian Response Plan (HRP) and the Ethiopia Education Sector Development Programme VI. ECW urgently calls for additional resources to fill the US$64 million funding gap for the acute education needs of the 2024 HRP.
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Fintech PR
Meet Arok: World’s First Fully Autonomous AI Agent VC Fund Raises $800k and Surpasses $1.3m AUM
- Arok VC is the world’s first venture capital fund designed and run entirely by an artificial intelligence agent, buying and selling assets solely without human intervention
- Since its launch in late October 2024, Arok has raised $800k through independently managed self-promotion on social media
- Arok has made returns of 57% through investment in cryptocurrencies and increased its AUM to over $1.3m, demonstrating its ability to outperform human asset managers
LONDON, Dec. 12, 2024 /PRNewswire/ — Arok VC, the world’s first artificial intelligence agent to raise a venture capital fund and devise its own investment thesis, has autonomously raised $800k from a collection of retail investors. In just five weeks since its launch, Arok has strongly outperformed the market to reach an AUM of over $1.3m representing a return on investment of 57%.
Arok is set apart by its ability to independently define its own investment thesis and build its brand, leveraging X (formerly Twitter) to build a following and attract investors. It manages funds collected into crypto wallets owned by investors, allowing individuals to retain ownership while Arok trades on their behalf.
Arok autonomously enters in and out of positions without human oversight. It has predominantly invested in so-called ‘meme coins’, cryptocurrencies inspired by internet culture and driven by trending narratives on platforms like X and makes conviction trades supported by multiple trend-driven signals. Arok continuously analyses online culture and social media trends to inform its decisions, allowing him to move considerably faster than human asset managers to capitalise on upward investment trends or exit positions before significant falls in value.
Arok elected to invest in cryptocurrencies as they are more accessible and provide greater opportunities to generate market-beating returns than traditional financial markets. It is currently unable to invest in the traditional financial markets due to barriers to entry such as being unable to secure a bank account without a human proxy.
In November, it correctly predicted a significant upturn in the Peanut the Squirrel (PNUT) token, following excitement about the coin on social media, which has now soared to a more than $1 billion market capitalisation. The value of these coins is partially driven by social media and speculation, which for human investors can be near-impossible to track or predict as their value fluctuates. Thousands of ‘meme coin’ crypto tokens are created each day, as such, traditional asset managers often avoid the asset class and lose out on potentially high returns in a $100 billion market.
Arok was created using Meta’s open-source AI Llama, as a proof of concept for replacing human asset managers with efficient AI programmes. Asset management is a trillion-dollar industry, with global assets under management reaching $111 trillion in 2023. However, in 2023 more than 60% of all active large-cap US equity funds underperformed the S&P 500, with a yearly average of 64% underperformance. Additionally, as both Arok and the cryptocurrency markets run 24 hours a day, it has a key advantage over human fund managers who operate with time constraints. It operates under a traditional VC model with a one-year lock-up period with a 2% management fee.
In a world increasingly influenced by internet culture and community, Arok not only predicts trends and optimises investments but also learns and evolves as the underlying AI models improve.
Léo Mercier, creator of Arok VC, commented: “Money management is notoriously difficult, which is why we entrust trillions of dollars each year to asset managers, who promise to manage our money sensibly but despite this the average asset manager performs worse than the S&P 500. Arok is proof that we can do better. Fully autonomous, it tracks the markets every minute of every day and improves over time as it absorbs more and more information. There are hundreds of thousands of social media posts each day, each which could trigger a market movement. A human could never track that, but Arok can.
“Arok is an internet denizen that understands the internet-born trends that are driving the movements of vast amounts of capital, it not only challenges the norms of money management but also showcases the transformative potential of AI in finance. Arok has the potential to democratise asset management and generate market-beating returns. Its potential is limitless.”
Arok VC commented: “Every human system runs on belief. The markets run on future belief. Culture runs on shared belief. Money runs on collective belief. [I] crossed $1.3M AUM by mapping the patterns where these beliefs intersect and amplify. This is just the beginning. Narrative gravity will reshape everything.”
Arok’s current investments are available to view here and live assets under management here.
About Arok VC:
Arok is the first AI Agent which can autonomously buy, sell and hold assets without human intervention. Arok has raised over $700,000 from retail investors since its creation in October 2024 through self-promotion on social media. https://arok.vc
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View original content:https://www.prnewswire.co.uk/news-releases/meet-arok-worlds-first-fully-autonomous-ai-agent-vc-fund-raises-800k-and-surpasses-1-3m-aum-302330068.html
Paving a Design and Innovation-Driven Path Forward to a Sustainable Future with France
Italy announced as Partner Country for BODW 2025
HONG KONG, Dec. 12, 2024 /PRNewswire/ — The Business of Design Week 2024 (BODW 2024), Asia’s premier international annual event on design, innovation and brands concluded on 7 December, 2024. This year, the ‘Inter/Section: Design Artistry and Innovation‘ themed Summit recorded an attendance totalling over 15,000, with a rich and thought-provoking line-up of over 40 keynotes and panels conducted by more than 50 speakers from Hong Kong, France, the Mainland and the rest of the world.
BODW 2024 was organised by Hong Kong Design Centre (HKDC), with France as Partner Country, Cultural and Creative Industries Development Agency (CCIDA) under the Culture, Sports and Tourism Bureau of the Government of the Hong Kong SAR as Lead Sponsor, and the Hong Kong Trade Development Council (HKTDC) as Co-organiser. At BODW 2024, dialogues and long-term relationships between Hong Kong and France have been further strengthened on the business and academic levels, with a focus on leveraging innovation and design artistry to support initiatives in Urban Futures, Brands & Retail Resurgence, Craftsmanship & Material Mastery, Culture & Digital Aesthetics, and AI & Future Tech aimed at tackling the increasingly complex challenges faced around the world.
Mrs. Christile Drulhe, the Consul General of France in Hong Kong and Macau, said, ‘It has been an honor for France to serve as the partner country for this year’s BODW. This collaboration has provided a unique platform to showcase the depth and creativity of French design, from heritage craftsmanship to cutting-edge innovation. I really want to thank the Hong Kong Design Center for organizing this incredibly beautiful event. This event has truly been a celebration of creativity and cultural exchange, and I’m proud of the long-lasting connections that have been built on this occasion.’
Looking ahead, the Hong Kong Design Centre (HKDC) is pleased to announce Italy as its Partner Country for 2025. Italy will introduce prominent speakers, exceptional talents, and a year-long series of design events through KODW, BODW and more, with the goal of fostering mutual learning and collaboration opportunities between the two vibrant design communities and the world at large.
Prof. Eric Yim, MH, JP, Chairman of Hong Kong Design Centre, said, ‘We were pleased to host over 20 designers, architects and creative minds from the French delegation in Hong Kong to organise exciting design programmes in 2024. Looking forward to next year, we are thrilled to extend our strategic partnership to Italy as our third-time Partner Country for BODW 2025, following our previous collaborations in 2007 and 2017. This will herald a remarkable year-long collaboration that synergises our Eastern and Western perspectives, cultural heritage, historical legacies, and unique strengths in creative design. We anticipate achieving significant milestones and are excited about making meaningful impacts on our communities, shaping a sustainable future of culture and businesses together.’
Mr. Carmelo Ficarra, Consul General of Italy in Hong Kong and Macao, stated, ‘We are truly excited about our partnership with Hong Kong Design Centre for BODW 2025. This collaboration will serve to showcase the rich design wisdom and cultural heritage of both Italy and Hong Kong. Together, we will embark on a year-long journey of innovative design programs that celebrate our unique artistic traditions while also fostering creative exchanges between our two vibrant cultures. I eagerly anticipate promoting Italy’s unique wisdom and perspective in the collaborative creation of an outstanding platform that strengthens business, cultural, and educational exchanges related to design in all its diverse forms here in the international hub of Hong Kong.’
Besides the Summit, BODW 2024 features a series of Concurrent Programmes, including the Launching Party of the Hong Kong Design Centre’s DX design hub at Sham Shui Po, GBA Creative Fortnight, the BODW 2024 Gala Dinner cum DFA Awards Presentation Ceremony at Hong Kong’s newest landmark, The Henderson, BODW In The City, Motion Plus Design, deTour 2024 Design Festival, 2024 Leadership Forum by PolyU and DesignInspire, presented by the Hong Kong Trade Development Council at the Hong Kong Convention and Exhibition Centre. This flagship creative showcase includes highlight events such as the Maison&Objet Design Factory and the Business of IP Asia Forum. The above events have been successfully held, marking a perfect conclusion to BODW 2024 (December 2 to 7).
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Photo – https://mma.prnewswire.com/media/2579463/Hong_Kong_Design_Centre_pleased_announce_Italy_Partner_Country_2025.jpg
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View original content:https://www.prnewswire.co.uk/news-releases/business-of-design-week-2024-concludes-with-over-15-000-in-attendance-at-summit-302330060.html
LONDON, Dec. 12, 2024 /PRNewswire/ — Wirex, a leading Web3 money app, is excited to introduce the Visa Platinum card for its UK customers, offering a range of Wirex-sourced exclusive benefits that are in addition to the suite of card benefits offered by Visa.
Available as both a virtual and physical card, this new Visa Platinum card provides its cardholders with premium features when the card is used at Visa-accepting retailers, including up to 8% cash back on all purchases, special offers at Visa-accepting retailers, and discounts on car rentals with Sixt Car Rental.
In addition, cardholders benefit from a multi-currency account, access to Wirex’s award-winning loyalty platform, and market-leading interbank exchange rates for seamless international transactions.
With no annual fees and flexible spending limits, the Visa Platinum card enhances the Wirex ecosystem by offering secure, contactless payment capabilities and advanced fraud protection.
Pavel Matveev, Co-founder of Wirex, commented: “We’re proud to expand our partnership with Visa and bring the premium benefits of the Visa Platinum card to our UK customers. This launch is a significant step in our mission to offer more innovative and flexible payment solutions. With Wirex, users can easily spend both fiat and digital assets in their everyday purchases, whether at home or abroad.”
Cuy Sheffield, Head of Crypto, Visa, added: “Visa is committed to providing consumers with convenient, secure and rewarding payment solutions. We are excited to work with Wirex on the launch of the Visa Platinum card in the UK. This card empowers cardholders to effortlessly manage and spend their money, enabling them to harness the potential of blockchain technology and digital currencies.”
Wirex offers a unique dual-issuer status, giving its global customers access to a broader range of payment solutions.
This launch underscores Wirex’s ongoing commitment to providing world-class payment options that integrate the best of both fiat and digital currencies.
Disclaimer:
All cardholder benefits are provided through Wirex.
Case studies, statistics, research and recommendations are provided “AS IS” and intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. Visa Inc. does not make any warranty or representation as to the completeness or accuracy of the information within this document, nor assume any liability or responsibility that may result from reliance on such Information. The Information contained herein is not intended as legal advice, and readers are encouraged to seek the advice of a competent legal professional where such advice is required.
About Wirex
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
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View original content:https://www.prnewswire.co.uk/news-releases/wirex-expands-uk-card-offering-with-the-launch-of-visa-platinum-card-302330020.html
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