Middle East Live

DUBAI, United Arab Emirates - Friday, 26. April 2024 AETOSWire Print 

Seoul Metropolitan Government and Seoul Tourism Organization to hold tourism promotion event “Seoul My Soul in Dubai” from May 6th to 7th in Dubai
Popular K-pop idol groups, OH MY GIRL and KARD, will be at Dubai’s The Agenda for a K-pop concert and to take part in fan meetups and autograph signing, live audience dress rehearsals, and more
Beyond the stage activities also available such as pop-up booths offering a taste of Seoul's festivals and lifestyle, with a lucky draw for a chance to win a round-trip flight from Dubai to Seoul
Due to overwhelming demand that led to the first round of tickets being sold out, an additional 500 tickets will be made available through the Platinumlist website starting on Monday, April 29th
A limited number of remaining seats will be distributed with tickets on the day of the event
 

(BUSINESS WIRE) -- The Seoul Metropolitan Government and the Seoul Tourism Organization are hosting a tourism promotion event, ‘Seoul My Soul in Dubai’, on May 6th and 7th at Dubai’s The Agenda to showcase the charms of Seoul. The event aims to highlight the vibrant Seoul lifestyle and its soulful essence. The organizers have prepared a diverse program featuring a K-pop concert and fan appreciation events with popular K-pop artists OH MY GIRL and KARD, along with K-pop cover dance performances, a brand showcase of Seoul, lucky draw event, and much more.

By popular demand, as evidenced by all first-round release tickets being picked up, organizers have decided to issue 500 additional free tickets. Same as before, ticketing will be on Platinumlist’s website on a first-come, first-served basis at 12PM on April 29th (Monday). On the day of the event, remaining tickets will be also distributed on a first-come, first-served basis.

At 16:00 on day 1, and at 14:00 on day 2 the venue will open Seoul Style Pop-up Booths, offering visitors an immersive experience of the Seoul lifestyle. From beauty and wellness to the Hallyu phenomenon, K-food, and more, the experience space will be filled with interactive content and items to experience life style in Seoul.

In the Beauty Seoul Zone, visitors can immerse themselves in the full Seoulite festivalgoer experience. They will have the opportunity to be glammed up by K-Beauty makeup artists and personally decorate light sticks and bracelets — must-haves for any festival — to take home afterward. At the Seoul Picnic Zone, a media art wall and ASMR zone will transport you through Seoul's four seasons, creating a unique sensory experience. Capture your unforgettable moment in one of the mini photo studios in the Hallyu Zone, where you can choose from multiple background options such as K-pop music video style. Additionally, a Medical Zone will offer skincare consultations for those interested in beauty treatments. The K-Food Zone will showcase the latest drinks and snacks trending in Seoul, while the Brand Zone will feature newly launched 'Seoul My Soul' official goods.

The main event will kick off with thrilling performances by renowned K-pop cover dance teams from the UAE, setting the stage for an electrifying dive into the dynamic world of K-pop. Following this, the Seoul City Brand Showcase will feature talented drawing artists from Seoul, offering immersive art experiences showcasing the city’s must-visit hotspots and foodie stops. Participants will also have the chance to win round-trip airline tickets from Dubai to Seoul and hotel vouchers through a lucky draw, offering them the exciting opportunity to experience Seoul firsthand. The highlight of the program is the K-pop concerts, featuring the popular idol group OH MY GIRL on May 6th (Monday) and famous co-ed group KARD on May 7th (Tuesday).

During the event period, at 16:30, attendees can watch the pre-rehearsal of K-POP artists. Following that, a lottery will be held to select lucky winners for special fan events such as high-touch sessions, group photos, and autograph event, providing fans with unforgettable memories.

PRE-REGISTER FOR TICKETS HERE (URL) : https://buly.kr/15MWbDF

PRE-REGISTER FOR SECOND ROUND OF TICKETS STARTING : 12:00PM, April 29th (MON), 2024

INQUIRIES : seoulmysoul2024@gmail.com

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Contacts
SEOUL TOURISM ORGANIZATION
Jihyeon Song
seoulmysoul2024@gmail.com

• Multilateral agreement signed with three Abu Dhabi government departments identifies support for establishing and scaling Joby’s air taxi service in Abu Dhabi and beyond
• Agreement covers the potential to develop a full air taxi ecosystem, including training, infrastructure development and flight operations, as well as a manufacturing presence in Abu Dhabi
• Agreement unlocks opportunity for inter-emirate air taxi services

(BUSINESS WIRE) -- Joby Aviation, Inc. (NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today announced it has signed a multilateral Memorandum of Understanding (MoU) with the Department of Municipalities and Transport - Abu Dhabi (DMT), the Abu Dhabi Department of Economic Development (DED) and the Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) that lays the groundwork for Joby to establish and scale air taxi services in Abu Dhabi and beyond.

The MoU, signed at the DRIFTx international thought-leadership and exhibition platform in Abu Dhabi, demonstrates the breadth of support available to Joby as part of their participation in the Smart and Autonomous Vehicles Industry (SAVI) cluster and builds on Joby’s existing commitments to the UAE, including the exclusive right to operate air taxi services in Dubai, which the company expects to start as early as next year. The agreement also unlocks the potential for inter-emirate air taxi services, for example between Abu Dhabi and Dubai.

His Excellency Mohamed Ali Al Shorafa, Chairman of DMT, commented on the agreement, saying: "Abu Dhabi aims to spearhead the advancement and implementation of the next era of advanced mobility solutions. Through the Emirate’s SAVI cluster and this visionary partnership with Joby, we are not only laying the foundation for cutting-edge air taxi services but also shaping the future of transportation; igniting a journey where the sky is no longer the limit, but the beginning of endless possibilities. We look forward to seeing their innovative aircraft take-off from the UAE capital, offering the world a glimpse, through Abu Dhabi, of what the future of mobility looks like.”

His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, said: “The development of an advanced industrial and manufacturing base is a core driver of Abu Dhabi’s ‘economic diversification 2.0’ agenda as outlined by the Abu Dhabi Industrial Strategy (ADIS), which is strengthening the Emirate’s position as the region’s most competitive industrial hub by increasing access to financing, enhancing ease of doing business, and attracting foreign direct investment. Smart and autonomous vehicles in particular are experiencing rapid growth, buoyed by the launch of the SAVI cluster, which leverages Abu Dhabi’s world-class infrastructure to scale the operations of global companies. Joby’s expansion into Abu Dhabi is a testament to the success of this strategy.”

H.E. Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: “The MoU aligns seamlessly with our Tourism Strategy 2030, which underscores our steadfast commitment to fostering sustainable growth and strategic development in the travel and tourism sector. As part of our focus on infrastructure and mobility, we are collaborating closely with both government and private sectors to harness smart city initiatives and sustainable technologies. Through the adoption of green transportation solutions, we aim to enhance the quality of experiences offered to both our community and visitors. The introduction of scale air taxi services marks a significant addition, enhancing accessibility to natural attractions, tourist hotspots, and architectural landmarks, thereby elevating overall visitor experiences.”

JoeBen Bevirt, founder and CEO, Joby Aviation, said: “Today’s agreement demonstrates the incredible momentum behind the adoption of clean flight across the UAE. We’re looking forward to delivering a fantastic experience for our future customers in Abu Dhabi and we’re excited to be unlocking the potential for zero-emissions flight between Abu Dhabi and Dubai. We’re grateful for the support and collaboration of our governmental partners and the entire ecosystem in Abu Dhabi and we remain deeply impressed by their commitment to building out a world-class aviation ecosystem in the Emirate.”

Joby’s aircraft, which is on display for the first time in Abu Dhabi at the DRIFTx event in Yas Marina, is designed to carry a pilot and four passengers at speeds of up to 200 miles per hour (321 km/h) with zero operating emissions and a remarkably low acoustic footprint. Its maximum range of 100 miles (161 km) would enable fast and clean air travel both within Abu Dhabi and across the wider UAE, with a journey from Abu Dhabi to Dubai taking around 30 minutes compared with around two hours by car during rush hour.

Joby has been working closely with the General Civil Aviation Authority (GCAA) of the UAE to define a path to support the region in becoming world leaders in the introduction of air taxis. The GCAA regulatory framework builds upon FAA standards with additional company testing and analysis alongside a high level of regulator oversight and an ongoing review process to ensure safety for early operations. Inter-emirate travel would require additional approval from the GCAA.

In November 2023, Joby’s aircraft became the first electric air taxi to fly in New York City, building on a number of recent successes including the launch of production at the Company’s initial manufacturing facility in California in June 2023 and the first ever delivery of an electric air taxi to the U.S. Department of Defense in September 2023. In February 2024, Joby confirmed it had completed the third of five stages required to receive type certification for its aircraft from the US Federal Aviation Administration. Joby is listed on the New York Stock Exchange and has raised more than $2 billion of funding to date, including investments from Toyota, Delta Air Lines, SK Telecom, Uber and Baillie Gifford.

Running from 25-26 April 2024 at Yas Marina Circuit, Abu Dhabi, DRIFTx is an international thought-leadership and exhibition platform dedicated to advancing the future of smart, autonomous, and sustainable mobility across air, land, and sea. Supported by the Abu Dhabi Investment Office (ADIO) and Abu Dhabi’s SAVI cluster, DRIFTx is a leading global event to showcase the latest in advanced urban mobility, driving discussions, collaboration, and innovation across the sector.

Media assets, including footage of Joby’s aircraft in flight and photos from the signing ceremony, are available here.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. To learn more, visit www.jobyaviation.com.

Forward Looking Statements

This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, our regulatory outlook, progress and timing; our planned operations in Dubai and Abu Dhabi, including our expectation to start commercial passenger service as early as 2025, potential routes and our path to certification in the UAE; our business plan, objectives, goals and market opportunity; plans for, and potential benefits of, our strategic partnerships, including financial support, exclusivity and other expected benefits from our Memorandum of Understanding with Department of Municipalities and Transport - Abu Dhabi, the Abu Dhabi Department of Economic Development and the Department of Culture and Tourism - Abu Dhabi ; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our aerial ridesharing service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project, and our ability to launch our service; complexities related to obtaining certification and operating in foreign markets; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2024, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

About the Department of Municipalities and Transport (DMT)

Established in 2019, the Department of Municipalities and Transport – Abu Dhabi (DMT) was created by merging the Department of Urban Planning and Municipalities with the Department of Transport.

Our mandate is simple: devise, deliver, and develop services that enable the entire Abu Dhabi community to realise its full potential, as well as strengthen the Emirate’s reputation as world-class destination to live, work, and visit. Empowered by the values of good governance, we actively support the Abu Dhabi government's ambition to spearhead progressive urban planning and transportation that result in economic growth and transformative investments across the Emirate.

From infrastructure, facilities and transportation to pedestrian and cycling pathways, parks, schools, places of worship, and more, DMT strives to meet every resident's needs and enhance their overall quality of life.

We achieve this by providing efficient services across three regional municipalities - Abu Dhabi, Al Ain and Al Dhafra – in addition to overseeing the ongoing development of the Emirate’s land, air, and maritime transport networks.

Driven by innovation and sustainability, we aim to build smart cities, adapt to change, and sustain prosperity for future generations across the Emirate of Abu Dhabi.

www.dmt.gov.ae/en

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Contacts

Joby Aviation

Investors:

investors@jobyaviation.com

Media:

press@jobyaviation.com

LG Showcase MEA 2024 yesterday welcomed guests and partners in Abu Dhabi to in-person experience the latest and greatest the brand has to offer.

The two-day event held at Conrad Abu Dhabi Etihad Towers Hotel in Abu Dhabi, UAE had over 500 guests who witnessed all of LG Electronics’ new innovations that will be rolled out in the region. The LG Showcase, returning after a successful event last year, will create a common platform for experiencing LG Electronics’ unique customer focused innovations and reaffirms the company’s vision to bring innovative products to the market that enhances the customer’s overall experience. The event revolved around the theme of Reinventing Together, which expresses the brand’s commitment and passion toward its customers and their requirements.

Mr. Il Hwan Lee, Chief Executive Officer, LG MEA Region said: “We saw a huge success when we returned the LG Showcase MEA event last year and we are elated to see the same success in today’s event as well. It is a great pleasure to showcase our latest innovations and give our guests the chance to experience them all firsthand. We are happy to see the love and appreciation received for each product and look forward to bringing more to this region overall.” He further added, “This event is a platform that showcases not just our products, but also reiterates our commitment to our customers. This event also serves as a platform for networking with our business partners and fostering relationships, another vital element of our work.”

The large-scale event was also home to multiple exhibition zones, where LG Electronics’ products were displayed in their ideal use-case scenario. This included a hero zone with the 97-inch LG SIGNATURE WIRELESS OLED M, the world’s-first consumer TV with Zero Connect technology which enables the transfer of 4K video and audio, wirelessly at 120Hz. Also on display was LG’s innovative StanbyME Go, the 27-inch FHD smart screen that comes in a carry bag design and a three-hour battery built in that allows for the ultimate in portability and making it a perfect companion for outdoor use, such as picnics and BBQs. The event highlighted the latest in LG Electronics’ innovation in processors and software with the new α (Alpha )11 processor that will be used in its flagship TVs and the latest WebOS respectively. The α (Alpha )11 processor will be actively used in flagship TVs for powerful AI features that enhance the viewing experience, while the new WebOS brings a revamped home screen with wider title cards and smoother tiles. The new WebOS will expand into 300 TV brands and 3,500 content partners, including local partners and has an active user growth increase in the MEA region by 20 times.  

A dedicated zone for audio visual products was also present, including the latest in XBOOM speakers which deliver bold and loud sounds with strong bass. This included the LG XBOOM XL9T, the most powerful-in-class party speaker, its smaller variant, the LG XBOOM XL5S with a 200W output, topped off with a dynamic pixel lighting effect that offers animation patterns, visual EQ or even characters, making it the perfect accessory for hanging out with friends or a must-have at parties.

LG CineBeam Q, the much awaited, stylish and smallest 4K portable projector from LG was a key attraction. This mighty 4K laser projector not only delivers stunning picture quality, but also a range of streaming features, while its minimalist design fits into any home design ethos.

The IT zone on the other hand showcased the latest lineup of LG UltraGear OLED gaming monitors including the new 32GS95UE, the world’s first VESA certified Dual Mode gaming monitor as well as the LG MyView Smart Monitor, a must-have for productivity and entertainment. To top it off, LG Electronics demonstrated the LG MAGNIT (model LSAL006), a stunning 4K (3840 x 2160) resolution Micro LED display, that delivers unparalleled picture quality through the brilliance of Micro LED technology, ideal for both personal and professional use.  For retail use, LG displayed the OLED transparent screens, which was highlighted in the LG café experience zone.

The exhibition zone also included an area for home appliances, including washing machines and air conditioning solutions as well as the brand’s premium built-in solutions. Featured in this zone was the MoodUP™ refrigerator, which adds a unique personality to any home kitchen with the ultimate in customization by allowing users to choose from 22 colors for the upper door panel and 19 colors for the lower panel. In addition to its visual aesthetic, the new LG MoodUPTM Refrigerator comes with three LED panel doors and a transparent fourth door. Also on display was the LG built-in-kitchen package, a unique lineup that comprises of an InstaView™ oven, QuadWash™ dishwasher, bottom-freezer refrigerator and microwave oven, making it easier for customers to build an all-inclusive experience powered by LG Electronics.

On display was also its Residential Air Conditioning units, such as the ARTCOOL lineup which features the LG DUAL Inverter Compressor™, a critical element that brings powerful cooling without affecting efficiency. Also on display was LG’s new WashTower™ Compact laundry solution, which focuses on efficiency and space by combining both a washer and dryer with an all-in-one control panel and advanced AI in a single unit with a capacity of 13-kilograms for the washer and 10-kilogram capacity for the dryer.

 LG Electronics also set up Life Style zones, with a range of products appropriate for them. This included the ThinQ powered home setup, an elegant café setup as well as a camping setup.

For more details about LG Electronics’ range of products please visit: www.lg.com

About LG Electronics, Inc.

LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 84 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

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Contacts
LG-One

Nora Nassar

Email: Nora.Nassar@lg-one.com

Revenue growth of 4.4% in USD; Growth broad-based across all verticals

(BUSINESS WIRE) -- LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the fourth quarter and full year ended March 31, 2024, as approved by its Board of Directors.

“We closed FY24 amidst a tough macro environment and delivered a resilient performance with full-year revenue growth of 4.4% in USD terms and an EBIT margin of 15.7%. Our order inflow for the full year at USD 5.6 billion registered a 15.7% growth over FY23. This growth reflects the positive outcomes of our positioning as an organization with scale, expanded capabilities, and larger partnerships. As the market dynamics evolve, we are excited to be part of innovations, partnerships, and initiatives that our clients will embark on in FY 25.”

-Debashis Chatterjee, Chief Executive Officer and Managing Director

Key financial highlights:

Quarter ended March 31, 2024

In USD:

- Revenue at $1,069.4 million (-1.3% Q-o-Q / +1.1% Y-o-Y)
- Net profit at $132.4 million (-5.8% Q-o-Q / -2.4% Y-o-Y)

In INR:

- Revenue at ₹88,929 million (-1.4% Q-o-Q / +2.3% Y-o-Y)
- Net profit at ₹11,007 million (-5.9% Q-o-Q / -1.2% Y-o-Y)

Year ended March 31, 2024

In USD:

- Revenue at $4,287.3 million (growth of 4.4% Y-o-Y)
- Net profit at $553.4 million (growth of 1.4% Y-o-Y)

In INR:

- Revenue at ₹3,55,170 million (growth of 7.0% Y-o-Y)
- Net profit at ₹45,846 million (growth of 4.0% Y-o-Y)

Other highlights:

Clients:

- 738 active clients as of March 31, 2024
- $5 million+ clients increased by 7 on a Y-o-Y basis, total 153
- $10 million+ clients increased by 10 on a Y-o-Y basis, total 91
- $20 million+ clients increased by 2 on a Y-o-Y basis, total 40

People:

- 81,650 professionals as of March 31, 2024
- Trailing 12 months attrition was 14.4%

Deal Wins

As part of a multi-year engagement, a leading financial services firm specializing in loans and mortgages has selected LTIMindtree as their primary engineering partner to meet their regulatory timelines and enable seamless operations of their application landscape through a ‘Remediation-as-a-Service’ and ‘Operations-as-a-Service’ engagement.

A multinational financial services corporation has awarded LTIMindtree a multi-year contract as an exclusive assurance partner for their transformation journey by implementing a centralized Quality Engineering organization.

A global leader in insurance brokerage services and risk management solutions has chosen LTIMindtree as their primary partner to establish a new technology platform as they create a new operating model in their digital transformation journey.

A leading energy company in the Middle East has awarded LTIMindtree an end-to-end infrastructure-managed services contract for five years.

A leading producer of frozen products in Sweden has awarded LTIMindtree with a full-scope infrastructure contract for Cloud Transformation. This is a new logo for LTIMindtree.

Partnerships

LTIM has achieved Amazon Connect service delivery designation, allowing businesses to provide improved customer service at a lower cost through the cloud-based contact center service.

LTIM joined the IBM Quantum Network, to explore quantum computing innovation for the benefit of its global clientele across multiple industries. This solidifies LTIM’s position in the global quantum ecosystem being the first Indian GSI to join the IBM Quantum Network.

LTIM has been awarded the Fivetran Global and EMEA Innovation Partner of the Year 2024, showcasing our dedication to innovation and customer-centricity.

LTIM was awarded "Global Breakthrough Partner of the Year" by Tricentis. This award highlights our strong partnership and dedication to delivering innovative solutions to clients using Tricentis technology.

Received Temenos Learning Community Award accrediting LTIM’s commitment towards constant upskilling in Banking Digital transformation.

Recognitions

LTIMindtree recognized as a Major Contender in Everest Group’s CPG IT Services PEAK Matrix® Assessment 2024.

LTIMindtree recognized as a Major Contender in Everest Group’s Retail IT Services PEAK Matrix® Assessment 2024.

LTIMindtree featured in Forrester's ‘The state of Digital Workplace Services, 2024’.

LTIMindtree recognized as a Major Contender in Everest Group’s Application Transformation Services PEAK Matrix Assessment 2024-North America.

LTIMindtree featured in Forrester's ‘The Adobe Services Landscape Q1 2024’.

Announcements

The Board of Directors have recommended a final dividend of ₹45 per equity share of par value ₹1 each for the financial year ended March 31, 2024.

About LTIMindtree

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 81,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit https://www.ltimindtree.com/.

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Media Relations: Shambhavi.revandkar@ltimindtree.com

NEW YORK - Wednesday, 24. April 2024

Hithium’s first attendance and hosted roundtable discussion in BNEF summit New York
Insightful conversations about battery technology innovation and global applications
 

(BUSINESS WIRE) -- From April 16th to 17th, the BloombergNEF (BNEF) Summit was held in New York, USA. The BNEF Summit brings together energy, finance, and technology professionals to facilitate the exchange of ideas, insights, and connections. This was Hithium's first time attending after its global launch in 2023. Hithium was also invited to host a roundtable discussion on the topic of "Next Generation Battery Energy Storage System: Latest Technology Trends and Impact on Project Economics," led by Hithium Director of Global Applications Engineering, Neil Bradshaw. The discussion focused on the future development trends of energy storage and included insights on Hithium's technology innovations, global application practices, and international development for global energy green transformation.

Hithium’s advantages on the PCS flexible solution

In the roundtable, Neil Bradshaw mentioned Hithium’s technical compatibility with major suppliers of power conversion systems. As a manufacturer of cells, battery modules, and full DC-side solutions, Hithium works with PCS suppliers on systems and projects onsite. Hithium manufactures and works with a range of inverter-makers to confirm that its battery products match well with their products. Neil stated, “Hithium's compatibility with major suppliers of inverters allows customers and investors to pre-select matching PCS for their projects. PCS supplier flexibility provides customers with cost-effective, space-saving, and integration services.”

“Just BESS” Strategy achieves in technology and product innovations

“While some companies offer only standard products, we tailor our services with market needs. Customizing is expensive, but we believe in the value of doing that,” Neil said. As the pace of global energy transition accelerates, energy storage technology, as a key technology to support the large-scale application of renewable energy, is facing unprecedented development opportunities. Neil introduced Hithium’s products that have diverged from EV due to the company’s revolutionary advancements in battery technology. These advancements include the 280Ah battery cell, the first excellent SEI films lead to ultra-long-lasting batteries, and the latest 314Ah battery cell, created to offer cost optimization and 11,000 cycles. The “Just BESS” strategy is solely focused on stationary energy storage and providing customers with reliable, cost-effective energy storage products and solutions. Hithium delivered more than 200 energy storage projects with total shipment of over 20 GWh and aims to reach 135 GWh of production capacity only for stationary batteries by the end of 2025. Just recently, Hithium was listed as global Tier 1 energy storage manufacturer in the BNEF 2024 Q1 and Q2 reports, and ranks in 2023’s Top 5 for global BESS shipments within its first year on the world stage.

About Hithium

Founded in 2019, Hithium is a leading manufacturer of top-quality stationary energy storage products for utility-scale as well as commercial and industrial applications. With four distinct R&D centers and multiple “intelligent” production facilities, Hithium’s innovations include groundbreaking safety improvements to its lithium-ion batteries as well as increases in lifecycle. With decades of cumulative experience in the field among its founders and senior executives, Hithium leverages its specialization in BESS to deliver partners and customers unique advances in energy storage. The company is based in Xiamen, China, with further locations in Shenzhen, Chongqing, Munich, Dubai, New York and California. Hithium has shipped 20+ GWh of BESS products to date.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240423336349/en/

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Contacts
chloe.chen@hithium.cn

Farcana, le jeu de tir à héros compétitif et en équipe très attendu, annonce Gateway : Showdown, un événement de test d’essai public se déroulant du 30 avril au 4 mai 2024. Ce test constitue une opportunité cruciale permettant à Farcana de recueillir les précieux commentaires des joueurs, de présenter la dernière version du jeu avant son lancement officiel et d’accorder aux joueurs la chance de remporter une partie de la cagnotte valant 1 000 000 de jetons $FAR.

Gateway : Showdown accueille tous les aspirants héros leur accordant un processus d’enregistrement conçu pour être simple et accessible. Les joueurs peuvent se rendre sur le site électronique officiel de Farcana à l'adresse https://www.farcana.com pour télécharger le réseau client-serveur, créer un compte et s’enregistrer automatiquement au test d’essai. Chaque match joué pendant l'événement contribuera à leur classement final. Les participants peuvent comprendre soit des joueurs individuels soit des équipes allant jusqu'à quatre membres.

Gateway : Showdown va au-delà de la compétition traditionnelle basée sur le nombre de victimes, avec un tout nouveau mode de jeu : Escort. L'équipe attaquante tentera de pousser la charge utile jusqu'à la zone d'apparition de l'équipe en défense, tandis que les défenseurs essaieront de les arrêter net. De plus, les joueurs se lanceront dans une série de missions tout au long de l'événement, encourageant des styles de jeu variés et récompensant les contributions stratégiques. La réussite des missions permet d'obtenir des Particules, une ressource en jeu qui sert de principal indicateur pour suivre la progression des joueurs et déterminer leur classement.

Chaque joueur commence Gateway : Showdown non classé. En réalisant des performances exceptionnelles et en accumulant des Particules, les joueurs peuvent gravir progressivement le classement, dans le but de remporter une partie de l'impressionnante cagnotte valant 1 000 000 de jetons $FAR.

En prévision du test de Gateway : Showdown, le site électronique et la plateforme de jeu de Farcana font peau neuve, offrant une expérience utilisateur simplifiée et visuellement attrayante. Les joueurs peuvent s'attendre à une interface intuitive et fluide lorsqu'ils plongeront dans l'univers de Farcana.

Pour de plus amples informations et pour vous enregistrer au test de Gateway : Showdown, veuillez consulter le lien suivant : sur https://www.farcana.com. Farcana a hâte d'accueillir les joueurs dans les arènes animées de Mars et de façonner ensemble l'avenir du jeu de tir compétitif à héros.

Pour en savoir plus sur Farcana et le studio, veuillez consulter le lien suivant : https://www.farcana.com/company.

Le texte du communiqué issu d’une traduction ne doit d’aucune manière être considéré comme officiel. La seule version du communiqué qui fasse foi est celle du communiqué dans sa langue d’origine. La traduction devra toujours être confrontée au texte source, qui fera jurisprudence.

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Contacts
Contact des Relations publiques chez Farcana

Tom Lindgren

tom.lindgren@farcana.com

Hikma Pharmaceuticals PLC (Hikma, Group), the multinational pharmaceutical group, today provides an update on current trading ahead of its Annual General Meeting.

Riad Mishlawi, Hikma’s CEO, said:

“Hikma has had a strong start to 2024, with continued growth and momentum across the Group. Our three businesses are performing well, underpinned by our strong commercial and operational capabilities. We are launching new products and expanding our manufacturing capacity, which will drive sustainable future growth.”   

Group

The Group had a strong and encouraging start to the year, supported by all three business segments.

We expect Group revenue to grow in the range of 4% to 6% and for core operating profit to be in the range of $660 million to $700 million in 2024, in line with prior guidance.

Injectables

Our global Injectables business has had a good start to the year. In the US, the breadth of our portfolio, new launches, and our new high speed filling lines are enabling us to capture new market opportunities. In Europe, we are benefitting from good demand for our own products and we continue to make progress in new markets. We are also seeing solid growth across our MENA markets, supported by our biosimilar portfolio and recent launches.

We have launched three products year-to-date in the US and are expanding our global manufacturing capacity, including strengthening our sterile manufacturing capabilities in MENA.

We continue to expect 2024 Injectables revenue to grow in the range of 6% and 8% and for core operating margin to be between 36% and 37%.

Branded

Building on recent momentum, Branded has had a strong start to the year, supported by a growing product portfolio and our commercial and operational strength in the MENA region. We are seeing strong demand across our MENA markets and increased sales both for our portfolio of oncology medicines and for those medicines used to treat chronic illnesses.

In 2023 we became the second largest pharmaceutical company in MENA by sales[1]. We are investing in R&D to launch more complex and first-to-market products. We are also gaining market share in key therapeutic areas – we are the sixth largest supplier of new generation type II diabetes products and second largest for multiple sclerosis therapies[2]. We are investing in enhancing our manufacturing capacity and capabilities, strengthening our position as a local manufacturer and supplier of high-quality medicines with industry-leading global expertise.

For 2024, we continue to expect Branded revenue to grow in the mid- to high-single digits in constant currency, or low-single digits on a reported basis.  Given the strong performance in the year to date, we now expect slight growth in reported core operating profit.

Generics

Our Generics business is performing well. This reflects a robust performance from our broad product portfolio and recent launches.  We are focusing on building a differentiated portfolio and pipeline for this business, as well as leveraging our state-of-the-art facility in Columbus, Ohio.

Last week, Hafrun Fridriksdottir was appointed as President of the Generics business. Hafrun brings more than 25 years of strong leadership and deep pharmaceutical industry experience to her new role, with a particular emphasis on research and development, successful pipeline expansion and new product introductions, making her well positioned to lead Hikma’s Generics business in its next phase of growth. 

We continue to expect Generics revenue to grow in the range of 3% to 5% in 2024. We expect 2024 core operating margin to be in the mid-teens, reflecting the increase in royalties payable on our authorised generic of sodium oxybate.

Final dividend

Subject to approval at today’s Annual General Meeting, we will be paying a final dividend of 47 cents per share. The final dividend brings the total dividend for the full year 2023 to 72 cents per share, an increase of 29% on 2022. This equates to a payout ratio of around 32%, which is above our historical range of 20% to 30%. We intend to progressively increase our dividend, with a payout ratio in the range of 30% to 40%, reflecting the Board’s confidence in the long-term growth prospects for the Group and our ongoing commitment to return cash to shareholders.

We will announce our interim results for the six months ended 30 June 2024 on 8 August 2024.

Forward-looking statements

Hikma advises shareholders to approach forward-looking statements with caution due to potential risks and uncertainties, as outlined in the company's Annual Report. While these statements are made in good faith based on available information, actual results may differ. Hikma does not guarantee updates to forward-looking statements beyond legal or regulatory obligations, and shareholders are warned against placing undue reliance on them. Other than in accordance with its legal or regulatory obligations (including under the UK Market Abuse Regulation and the UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority), Hikma does not undertake to update any forward-looking statements contained in this announcement to reflect any changes in events, conditions or circumstances on which any such statement is based or to correct any inaccuracies which may become apparent in any such forward-looking statements.

[1] IQVIA MIDAS Pharma Index MAT Feb-2024. Retail + Hospital. Excluding Milks and diagnostics. Excluding Lebanon.

[2] IQVIA MIDAS Pharma Index MAT Feb-2024. Retail + Hospital. Excluding Milks and diagnostics. Excluding Lebanon. Excluding F & G NFC1

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https://aetoswire.com/en/news/2504202438912

Contacts

Susan Ringdal

EVP, Strategic Planning and Global Affairs

+44(0)2073992760 / +44(0)7776477050

Guy Featherstone

Director, Investor Relations

+44 (0)2038924389 / +44(0)7795896738

Layan Kalisse

Senior Associate, Investor Relations

+44(0)2073992788 / +44(0)7970709912

HONG KONG - Thursday, 25. April 2024 AETOSWire Print 

Lenovo’s third annual global CIO report reveals AI as IT’s most urgent priority, matched only by cybersecurity.
However, speed to adoption and security stand as largest barriers to scaling AI.
 

(BUSINESS WIRE) -- AI is the CIO’s top priority, according to findings of Lenovo’s third annual global CIO report. Inside the Tornado: How AI is Reshaping Corporate IT Today, reveals that while CIOs need to adopt and scale AI urgently, their ambitions are threatened by speed, security, and other organizational functions lagging in AI readiness.

In a stark contrast to previous years, CIOs are tabling non-traditional responsibilities to sharpen their focus on core IT functions. Slightly more than half (51%) of CIOs feel AI/ML is an urgent priority to address, matched only by cybersecurity. This urgency is directly correlated to the pressure that CIOs are under to drive business impact, rather than operational maintenance and preservation. 84% of CIOs revealed they are being evaluated on business outcome metrics more than ever before.

“Today’s CIOs are working in a tornado of innovation. After years of IT expanding into non-traditional responsibilities, we’re now seeing how AI is forcing CIOs back to their core mandate,” said Ken Wong, President of Lenovo’s Solutions and Services Group. “This is driven by the clear promise of AI adoption combined with the pressure that IT leaders face to prove the value of these investments and deliver measurable business outcomes.”

CIOs are optimistic about AI’s impact—80% feel that breakthroughs and developments in AI will have a significant impact on their business. At the same time, CIOs see speed to adoption and security as the most significant barriers to scale AI. Large swathes of their organizations are not AI-ready, which is directly affecting IT’s ability to scale AI quickly. In particular, they called out: new product lines (78%), corporate policy / ethical use (76%), supply chain (74%), IT’s technical skills (51%).

What has remained consistent with previous years is IT’s ongoing challenge to measure impact. Sixty-one percent of CIOs said they find it very or extremely challenging to demonstrate return on investment (ROI) with tech investments. While 96% of CIOs anticipate increased investment over the next 12 months, 42% of respondents admit they do not expect to see positive ROI from AI investments for at least two to three years.

AI as a net-positive for sustainability

Sustainability remains a major component of the CIO role, but this is somewhat complicated by the fact that 38% of respondents admit that sustainability is being de-prioritized as a result of the resources being pulled toward AI adoption. Ultimately, CIOs see AI as a net-positive for sustainability—78% say that leveraging AI will make it easier to meet their organization’s IT sustainability goals.

Questions about human capital and financial resources remain

While CIOs share an optimistic account of IT’s own AI-readiness, continued AI investment could create additional human and financial resource gaps. 89% of CIOs warn that with the continued scaling of AI technologies, the role of human capital will become even more important. With expected budget constraints, increasing headcount to match these AI ambitions could prove challenging.

Similarly, while 96% of CIOs say they expect increased AI investments over the coming year, only 20% expect overall IT budgets to grow by more than 10%. CIOs concede that AI exploration and adoption is pulling resources and attention away from other key IT areas including cloud adoption/digital transformation (48%), sustainability (38%), and employee compensation (38%).

“There’s a clear opportunity for us to help businesses make sense of AI, accelerate its scale, and advise on how the impact of these investments can be effectively measured,” added Wong. “Our customers are already leveraging AI to advance sustainability, security, and digital transformation efforts. We can help them deliver further outcomes by developing cohesive deployment strategies that address CIOs’ challenges.”

The Lenovo Global Study of CIOs is available at https://www.lenovo.com/ai-reshaping-it.

About Lenovo

Lenovo is a US$62 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, employing 77,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company by further expanding into growth areas that fuel the advancement of ‘New IT’ technologies (client, edge, cloud, network, and intelligence) including server, storage, mobile, software, solutions, and services. This transformation together with Lenovo’s world-changing innovation is building a more inclusive, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240424226023/en/

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Contacts
Zeno Group for Lenovo: lenovossg@zenogroup.com

Proven leader with strong track record of success in building multi-billion-dollar enterprise and SaaS companies to spearhead Rimini Street’s global sales strategy, execution, and growth

(BUSINESS WIRE) -- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products, and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced the appointment of Steve Hershkowitz as its new Chief Revenue Officer (CRO).

“Steve’s leadership and extensive experience scaling businesses to deliver top-line growth will expand our sales reach to capture new logos and increase our opportunity to provide even greater value to our clients,” said Rimini Street president and CEO Seth Ravin. “The global revenue team and I are excited to work closely together with Steve to drive growth and broader capabilities for our company.”

Leading the Next Chapter of Sales Growth and Continued Success for Rimini Street

Prior to joining Rimini Street, Hershkowitz held executive leadership roles at several prominent technology companies, including Cisco Systems and HP/HPE. He also played a key leadership role in the largest business transformation in US history, HP's 2015 split, and was instrumental in creating a new core strategy, divesting businesses, commanding operational turnaround, and establishing HPE as a stronger enterprise high-tech company and global competitor.

Hershkowitz's extensive background includes proven success in scaling enterprise and SaaS software companies in highly competitive markets. With over two decades of experience in leadership roles and full P&L responsibility, Hershkowitz has demonstrated an extraordinary ability to grow multi-billion-dollar businesses and early-to-mid-stage startups.

In his new role, Hershkowitz will oversee all aspects of sales, including the company’s worldwide sales strategy to meet rising market demand and opportunities for Rimini Street’s award-winning support and services.

"I am excited to join the Rimini Street team and contribute to the company's next chapter of growth and continued success," said Steve Hershkowitz, CRO of Rimini Street. "Rimini Street has a strong and mature global sales operation and a full portfolio of proven products, services, and solutions for enterprise software that are still in the global rollout and launch stage. I will be focused on completing the global rollout and launch, scaling the sales operation to achieve accelerating growth while also managing the cost of sales.”

Steve Hershkowitz is a seasoned executive with a strong track record of leading sales growth, managing large enterprise sales, and driving innovation within high-tech firms, contributing to their reputation as a transformational leader with an impressive sales growth track record. Follow him on LinkedIn.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,500 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit riministreet.com, and connect with Rimini Street on Twitter, Instagram, Facebook and LinkedIn. (IR-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “anticipate,” “believe,” “continue,” “could,” “currently,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seem,” “seek,” “should,” “will,” “would” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period revenue and costs; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to sustain or achieve revenue growth or profitability, manage our cost of revenue and accurately forecast revenue; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel, including sales personnel, and retain key personnel; challenges of managing growth profitably; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate tax reserves; the impact of environmental, social and governance (ESG) matters; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on February 28, 2024, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2024 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240424061249/en/

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Contacts
Janet Ravin
VP, Global Communications
Rimini Street, Inc.
+1 702 285-3532
pr@riministreet.com