Fintech PR
Abu Dhabi Announces Multifaceted Enhancements to Increase the 35%++ Cashback Rebate
- With a sliding-scale points system and clear qualifying criteria, productions have the opportunity to gain up to 50% total cashback rebate
- Guidelines have also been enhanced; supporting additional production formats, increased total financial support caps, and refined qualification and payout process
- Abu Dhabi was the first destination in region to offer a cashback rebate and has supported more than 170 major productions since its inception in 2013
ABU DHABI, UAE, Dec. 30, 2024 /PRNewswire/ — Abu Dhabi Film Commission (ADFC), part Abu Dhabi’s Creative Media Authority (CMA), announced multi-layered enhancements for its film and TV production rebate offer. New guidelines will see global production companies afforded up to a 50% total cashback rebate, based on a clear set of criteria and sliding-scale points system.
With a baseline increase from 30% to 35%++ announced in Q3, the new rebate, starts for qualifying productions from 1 January 2025; with new qualifying formats, increased financial project caps and an improved process designed to strengthen and attract strategic investment into the film and TV production industry in Abu Dhabi.
Mohamed Dobay, Acting Director General of Creative Media Authority, said: “As pioneers of the rebate scheme in region, TV and film production continues to be a key pillar in the development of our creative industries and a strategic differentiator for the emirate. We have curated several levels of changes to the rebate which will continue to fuel global and regional interest in Abu Dhabi and contribute to the entire creative ecosystem. We look forward to welcoming new production partners, alongside strengthening our existing and previous relationships; driving the next phase of planned growth for the industry – working towards our goal of establishing Abu Dhabi as a leading film and TV production destination globally.”
“From a local perspective, the impact of the rebate on our economy is significant, with independent research showing for every dirham paid through one of the fastest payouts processes across the industry, more than three dirhams flows back into the economy,” he continued.
Enhanced Rebate Points System
ADFC’s enhanced rebate will offer additional uplift on top of the new 35% baseline with a maximum potential of 50% total rebate on in-market production and post-production costs, through meeting new criteria and seeking ADFC’s full and absolute approval.
The uplift has a points-based system where productions scoring between 10 to 14 points gain 2.5% uplift, in addition to the baseline of 35%, through to a 15% uplift on the baseline for productions scoring 85 points or above.
There are extensive ways in which production companies can score points, including featuring the UAE’s national history and culture in content; completing full postproduction activity in Abu Dhabi; main unit production in Abu Dhabi of a feature film and/or filming an entire TV series in the emirate.
New Eligible Formats
From 1 January 2025, the rebate will also be available for additional production formats, including reality TV, game shows, short films and animations. This expansion of formats bolsters the existing formats of feature films, TV series and programmes and TV commercials which have been supported since the introduction of the rebate in 2013.
New Higher Rebate Caps
The rebate initiative will also increase the caps on the total financial assistance production companies can gain from ADFC. Qualifying feature films, for example, will see this increase of Abu Dhabi Qualifying Production Expenditure (ADQPE) from US$5m to US$10m.
Refined Rebate Process
The final layer of rebate update is the streamlining of projected timelines for the rebate process itself. The interim certificate validity has increased from 60 days to 90 days – giving production teams an additional 30 days to start principal photography in Abu Dhabi, with an additional discretionary 120 days.
From the point the final certificate is issued towards the end of the rebate process, producers now will see paid funds in 30 business days (previously 60 business days) speeding up the already swift process.
Sameer Al Jaberi, Head of Abu Dhabi Film Commission added: “The reception of our initial baseline increase from 30% to 35%++ in October was extremely positive and the team has since seen a surge of interest from across the world, which will no doubt surge again with these additional layers of detail we’re announcing now. Coupled with the financial stimulus into the economy, visiting productions also support talent across the board – from youth talent who gain access to some world-class learning and training opportunities, to established talent, including freelancers who are regularly employed on visiting sets. With more than a decade of experience hosting global and regional major productions, the team at ADFC is well versed in the nuances of film and TV production and has demonstrated over the years the ease of doing business here in Abu Dhabi.”
Ben Piltz, Unit Production Manager commented, “Having a rebate is super important for studio films and the rebate in Abu Dhabi is second to none – giving you a number of benefits that you don’t get elsewhere. The enhanced rebate is going to offer a lot for future projects, the increase in the cap is a massive benefit and being able to increase eligible spend to 50% by promoting Abu Dhabi and its culture or using local talent is something everyone will look at.”
Fuelling Abu Dhabi’s already extensive ecosystem, a significantly enhanced rebate financially benefits more than 800 locally-based media companies (more than 300 of whom are production specific) the 1000-strong freelancer talent pool, young individuals looking for training and internship opportunities and the new golden visa programme.
More than 170 major productions have visited Abu Dhabi in recent years including Warner Bros. Pictures, Legendary Pictures, Disney, Netflix, Paramount Pictures, Yes Raj Films, Tips, Clacket, Eagle Films and Universal Pictures. Films shot in Abu Dhabi include Dune, Dune: Part Two, F1, Mission: Impossible – Dead Reckoning Part One, Mission: Impossible – Fallout, Star Wars: The Force Awakens, 6 Underground and Furious 7, as well as Bollywood hits such as Vikram Vedha, Tiger Zinda Hai and Bharat.
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VICTORIA, Seychelles, Jan. 2, 2025 /PRNewswire/ — In a significant leap forward for digital commerce, KuCoin has unveiled KuCoin Pay, a pioneering merchant solution designed to catalyze business growth by integrating crypto payments into the retail sector. This innovative system bridges the gap between traditional retail and crypto, offering contactless and borderless transactions. Leveraging KuCoin’s robust infrastructure—trusted globally and serving over 37 million+ users – KuCoin Pay is poised to open new opportunities for merchants and users to thrive in the evolving digital economy.
KuCoin Pay is committed to reducing transaction fees and facilitating immediate settlement of crypto payments, simplifying the process for businesses to manage transactions efficiently. The platform supports an extensive range of cryptocurrencies and blockchain networks, significantly broadening the global reach of payments.
The process for merchants is straightforward: integrate KuCoin Pay into their payment systems, allowing customers to complete purchases through KuCoin by scanning a QR code or via the KuCoin app. This integration ensures a frictionless checkout experience, fostering greater consumer confidence and satisfaction.
Additionally, KuCoin Pay is integrated within the KuCoin app, enabling businesses to tap into KuCoin’s extensive user base while simplifying the buying process for everyday items for users. Daily requests such as gift cards and mobile top-ups can be done seamlessly, further promoting widespread crypto adoption.
KuCoin Pay represents a major milestone in driving the mainstream adoption of crypto and marks a pivotal step in KuCoin’s ongoing commitment to enriching the blockchain ecosystem. For more information on KuCoin Pay and how it can transform your business, please visit the KuCoin Pay website.
About KuCoin
Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.
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View original content:https://www.prnewswire.co.uk/news-releases/kucoin-launches-kucoin-pay-a-merchant-solution-leading-the-future-of-crypto-payments-302341049.html
NASSAU, Bahamas, Jan. 2, 2025 /PRNewswire/ — On December 31, 2024, the “Menstrual Equity Project” , jointly initiated by KuCoin, Global CSR Foundation, and the American Medical Women’s Association (AMWA), has made new progress. The second batch of aid supplies has been successfully shipped to the Bahamas, providing urgently needed sanitary products for 4,000 local women and effectively improving their quality of life.
The “Menstrual Equity Project” aims to offer sustainable menstrual hygiene solutions to marginalized women and girls, aligning with the United Nations’ Sustainable Development Goals (SDGs). As the oldest multi-specialty medical organization promoting women’s advancement in the medical field and improving women’s health, AMWA’s mission is in perfect alignment with KuCoin’s commitment to social responsibility.
With the support of the Office of the First Lady of Commonwealth of Bahamas H. E. Ann Marie Davis, this round of donated materials focuses on disposable menstrual pads. This decision reflects the local challenges of water scarcity and high washing costs, while also providing essential emergency supplies for women during natural disasters such as hurricanes and typhoons.
Since KuCoin made a firm commitment to social welfare initiatives during the “KuCoin Green Future Gala” at the 28th United Nations Climate Change Conference (COP28) in 2023, the company has actively fulfilled its corporate social responsibilities. The “Menstrual Equity Project” has become a key initiative under this commitment.
In March 2024, the project’s first phase was implemented, distributing 1,000 menstrual kits—each containing 10 sanitary pads and 2 menstrual cups—to Suriname, St. Jude Children’s Research Hospital, and domestic violence shelters in New York and California.
The smooth delivery of the second batch of supplies to the Bahamas will benefit 4,000 women.
Jing Zhao Cesarone，President of Global CSR Foundation, commented:”KuCoin has set a remarkable example in addressing period poverty in underserved regions, demonstrating its enthusiasm and dedication to social responsibility.”
Nancy Cheung, KuCoin’s Chief Sustainability Officer (CSO), emphasized:”As a global leader in the digital economy, KuCoin is committed to advancing the UN’s Sustainable Development Goals (SDGs). Looking ahead, we will continue to focus on key areas such as climate change, health, and education, driving more philanthropic initiatives to fruition. We also plan to expand the scope of the ‘Menstrual Equity Project,’ collaborating with more international organizations to improve women’s living conditions and contribute to global sustainable development.”
About KuCoin
Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.
Logo – https://mma.prnewswire.com/media/2356857/KuCoin_Horizontal_Green_LOGO_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/kucoin-advances-the-menstrual-equity-project-benefiting-4-000-women-in-the-bahamas-302341084.html
SHENZHEN, China, Jan. 2, 2025 /PRNewswire/ — The inaugural PHBS-IER Conference, jointly organized by Peking University HSBC Business School (PHBS) and the International Economic Review (IER), held at PHBS from December 22 to 23. Centered on the theme “Financial Frictions for Firms and Households: Implications for Economic Development and Government Policies,” this two-day event brought together an impressive assembly of over 130 senior professors and emerging scholars from prestigious universities worldwide, including Princeton University, The University of Pennsylvania, Boston University, The University of Southern California, Emory University, University College London, The Chinese University of Hong Kong, Peking University, Tsinghua University, Fudan University, and Cheung Kong Graduate School of Business.
One of the most anticipated moments of the conference was the keynote address delivered by Nobel laureate Thomas Sargent. In his presentation titled “Fiscal Consequences of the US War on COVID,” Professor Sargent traced the evolution of US fiscal and monetary policy from the 19th to the 21st century. He noted that such crises like the long-term impact of wars on fiscal and monetary policy, often lead to fiscal deficits, significant price volatility, and enduring institutional changes. Furthermore, he discussed the complex interactions between fiscal, monetary, and tax policies, particularly emphasizing the role of “game theory” in shaping policymaker decisions. He underscored the importance of “budget constraints,” “coordination between monetary and fiscal policies,” and “power distribution” in managing these challenges.
Other notable presentations covered a broad range of topics and fields within economics. These included research on the impact of multinational corporations on technology development and innovation, investigations into the reallocation and pricing of illiquid capital in financial markets, and explorations of the effects of low interest rates on inflation and debt rollover.
The conference received a total of 211 high-quality paper contributions through an open call for submissions. Among these, eight were ultimately selected for inclusion, six of which were featured in a Special Issue of the IER. Leveraging this opportunity, PHBS and IER aim to deepen their collaboration, establishing an annual exchange platform that will ignite research vitality, promote high-level economic research, and contribute valuable insights to the advancement of economics in Asia and across the globe.
https://english.phbs.pku.edu.cn/info/1021/44872.htm
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View original content:https://www.prnewswire.co.uk/news-releases/inaugural-phbs-ier-conference-highlights-cutting-edge-economic-research-302341017.html
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