Interactive Brokers Provides Commission-free Trading On Forecast Contracts

KUALA LUMPUR, June 27 (Bernama) -- Interactive Brokers Group, an automated global electronic broker, announced its wholly-owned subsidiary, ForecastEx LLC, has received the necessary designations from the Commodity Futures Trading Commission (CFTC) to operate a contract market and derivative clearing organisation.

ForecastEx will commence operations on July 8, and Interactive Brokers clients from eligible countries will have immediate access. Interactive Brokers is the first Futures Commission Merchant to join as an exchange member.

Interactive Brokers Group Chairman and Founder, Thomas Peterffy said ForecastEx is a prediction market that the firm has been working on and experimenting with for nearly 10 years.

“Planning for the future is the ultimate task for any business leader, government official or individual. We may adjust our plans based on consensus forecasts or express our disagreement to earn a profit or hedge our exposures,” he said in a statement.

Contracts listed on ForecastEx are simple and intuitive with contract purchase prices ranging from US$0.02 and US$0.99, in which the value of these contracts will continue to fluctuate based on market participants’ evolving judgement of probabilities, directly reflecting the collective market view of the likelihood of the event. (US$1=RM4.71)

Upon the event's resolution, the contract settles at a predefined value, US$1 for a correct contract and US$0 for the incorrect one.

ForecastEx contracts are ideal for establishing the consensus view on controversial issues and hedging economic exposure, and have weekly, monthly, quarterly and annual durations.

Eligible clients of Interactive Brokers LLC, Interactive Brokers Hong Kong Limited, and Interactive Brokers Singapore Pte Ltd can trade ForecastEx contracts on IBKR ForecastTrader.

After its initial launch, ForecastEx will expand internationally and cover additional local and controversial global issues. Contracts will be limited only by the availability of credible, impartial arbiters of event resolutions.

-- BERNAMA

Anaqua’s IP Management Platform Enables Businesses To Achieve Maximum Value

KUALA LUMPUR, June 27 (Bernama) -- Anaqua, an innovation and intellectual property (IP) management technology provider, has launched artificial intelligence (AI)-powered AQX 11, its most significant platform release in 20 years, to help corporations and law firms achieve maximum value from their IP assets.

The launch coincides with the first day of the Anaqua Experience Conference and is part of the company’s 20th-anniversary celebrations, according to a statement.

Its Chief Executive Officer, Bob Romeo in a statement said Anaqua is excited to commemorate its anniversary and share this achievement with its global client community, who has been integral in making this possible.

Meanwhile, Anaqua Senior Vice President of Product & Innovation, Vincent Brault said: “This release empowers our clients to optimise operational efficiency and strategic decision-making through groundbreaking AI capabilities and automation.

“By enabling IP practitioners to extract vital insights from essential data and streamline portfolio decisions and patent classification, AQX 11 sets a new standard in IP management technology.”

An IP platform designed for operational and strategic advantage, AQX 11 brings a fresh look and feel to the world of IP management while dramatically enhancing decision-making capabilities and efficiency for IP attorneys and operations teams.

A suite of new features includes AI capabilities in which users can easily summarise patent claims and inventions, as well as automatically classify and map both internal and competitor patents; attorney workspace where attorneys can quickly access critical data related to IP matters in one central place; and organisations can accelerate innovation and maximise value in strategic planning through Innovation Management.

-- BERNAMA

Hai Robotics’ HaiPick A3S Wins Red Dot Award: Product Design 2024

KUALA LUMPUR, June 25 (Bernama) -- Hai Robotics announced that one of its Autonomous Case-handling Mobile Robot (ACR), HaiPick A3S, was recognised in the Red Dot Award: Product Design 2024.

The Red Dot Award: Product Design honours products on an annual basis that possess exceptionally high design quality, from functionality to use to the quality of responsibility.

“This distinction serves as a testament to our commitment to keep innovating and pursue excellence, while encouraging others to think outside the box.

“We are deeply grateful for this achievement, and are empowered to continue delivering innovative solutions with outstanding quality to address our customer's challenges," said Hai Robotics System Product Manager, Rebin Wu in a statement.

HaiPick A3S is a high-performance ACR designed for Surface-Mount Technology (SMT) scenarios, specifically storage and line-side case handling requirements, which transfers goods through chains and lifts for picking and placing.

The product meets industry dust-proof and anti-static requirements, as well as compliance with ISO standards of cleanliness (10000, Class 7), while also realises point-to-point handling from buffer racks to machines.

Additional key features of HaiPick A3S include precise picking of small items with ultra-low picking height of 200 millimetre (mm) and a slim chassis of 650mm; flexible and smooth handling that can automatically adjust its picking method based on goods' size and shape to ensure smooth handling; as well as safety protection design to facilitate smooth movement for operations personnel.

The robot was most recently showcased at SEMICON Southeast Asia in Malaysia, the region's largest global electronics and supply chain event attracting more than 15,000 attendees.

The award is one of the most prestigious design competitions in the world, in which The "Red Dot" distinction has been the internationally recognised seal of outstanding design quality for almost 70 years, with this year's submissions tested and evaluated by a jury of 39 experts across 20 countries in four continents.

-- BERNAMA

H.I.G. Capital Closes US$1.3 Bln Infrastructure Fund

KUALA LUMPUR, June 25 (Bernama) -- H.I.G. Capital (H.I.G.), a global alternative asset management firm, has announced the closing of H.I.G. Infrastructure Partners (Fund), with aggregate capital commitments of approximately US$1.3 billion. (US$1=RM4.70)

The Fund seeks to make control-oriented, infrastructure equity investments focused on the middle market segment, leveraging the firm’s focus on the middle market and its operational value creation expertise.

To date, across North America and Europe, the Fund has made seven investments, two of which are expected to close in the third quarter of this year, according to a statement.

“We greatly appreciate the strong support from our investors for our Infrastructure strategy. Their confidence in our investment approach to infrastructure underscores the power of the firm’s platform and our ability to generate strong returns through value creation in the underserved middle market,” said H.I.G. Co-Founders, Sami Mnaymneh and Tony Tamer.

Meanwhile, H.I.G. Infrastructure Co-Heads, Andrew Liau and Ed Pallesen commented that the Fund is well-positioned to capitalise on opportunities in the less efficient middle market.

“H.I.G.’s unique platform provides us with a demonstrated, differentiated sourcing model and a deep pool of resources focused on operational value creation. We believe this allows us to generate strong returns, especially as the industry adjusts to higher interest rates and macro volatility.”

The Fund was supported by a diverse and global group of limited partners that include sovereign wealth funds, public and private sector pensions, as well as insurance companies in North America, Europe, Asia, and the Middle East.

Based in Miami, H.I.G. has invested in and managed over 400 companies worldwide since its founding in 1993 with current portfolio includes more than 100 companies.

-- BERNAMA

AM Best Affirms Australia’s Ansvar Ratings As Excellent

KUALA LUMPUR, June 21 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Australia’s Ansvar Insurance Limited (Ansvar).

AM Best in a statement said these credit ratings (ratings) which have a stable outlook reflected Ansvar’s balance sheet strength, which was assessed as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.

In addition, Ansvar’s ratings factor in rating enhancement to reflect its ownership, integration and support from Ecclesiastical Insurance Office plc (EIO), a United Kingdom-based insurance group that specialises in providing commercial insurance.

Ansvar’s balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which is expected to remain at least at the very strong level over the medium term.

The company has prudent capital management in place, with a track record of financial flexibility to support its regulatory solvency position and risk-adjusted capitalisation.

Its operating performance was assessed as marginal by the credit rating agency, with operating performance metrics exhibited heightened volatility over the past five years, predominantly as a result of weather-related events as well as physical and sexual abuse (PSA) claims.

However, the company recorded positive operating earnings in 2022 and 2023, supported by recoveries arising from a stop loss reinsurance programme with EIO, while investment income continues to be a key contributor to overall earnings, with a net investment yield of 5.1 per cent, last year.

Both the PSA excess-of-loss cover and stop loss programme have been renewed for 2024, with these reinsurance arrangements expected to substantially limit downside risk to Ansvar’s operating performance and balance sheet strength fundamentals over the near term.

Prospectively, AM Best expects group support to remain available if the company’s performance volatility persists.

-- BERNAMA

Mary Kay Reveals Two Breakthrough Research Studies In Dermatology

 

Mary Kay Inc. recently revealed the results of two breakthrough research studies at the 2024 Society of Investigative Dermatology. (Photo: Mary Kay Inc.)

KUALA LUMPUR, June 21 (Bernama) -- Mary Kay Inc scientists has revealed the results of two breakthrough research studies at the 2024 Society of Investigative Dermatology (SID) meeting in Dallas, Texas.

The first finding focuses on an antioxidant treatment that can diminish the visible effects of pollution and ageing on human skin; while the second focuses on the applications of computational tools to accurately predict the safety and potential reactions of human skin to various cosmetic ingredients.

“Mary Kay scientists are at the forefront of skin care research, and we are pleased to share our latest findings with the broader scientific community,” said Mary Kay Chief Innovation Officer, Product & Science, Dr Lucy Gildea.

The ongoing partnership with SID underscores Mary Kay’s dedication to advancing skincare science, according to the company in a statement.

By maintaining collaborative efforts, the company remains steadfast in its commitment to making significant breakthroughs in the field of dermatology, ultimately providing consumers with safer and more effective skincare solutions.

Furthermore, Mary Kay is leveraging computational toxicology tools to enhance ingredient safety assessment of cosmetic and personal care ingredients, involving the use of advanced computational methods to predict the safety and potential toxicity of ingredients at an early stage, significantly reducing the need for extensive laboratory testing.

By integrating these advanced tools, Mary Kay underscores its commitment to leveraging cutting-edge technology for product development, ensuring the highest standards of safety and efficacy for its consumers.

Dr Gildea also hosted a compelling panel at SID, titled "Insights into the Effects of Pollution on Skin Health: Recent Discoveries & Emerging Perspectives”, comprising experts from varied fields of dermatology and molecular biology.

The sponsorship and findings presented at the 2024 SID meeting represent the latest efforts by the silver-level sponsor of the event, to reinforce the brand’s long-standing commitment to advancing research and development in skin health and beauty.

With over 1,600 patents for products, technologies, and packaging designs in its global portfolio, Mary Kay continues to lead the way in skincare innovation.

-- BERNAMA

NIQ AND WORLD DATA LAB UNVEIL "SPEND Z" REPORT

A new comprehensive report on spending trends of Generation Z, expected to become the largest – and wealthiest – generation in history


“Spend Z” identifies purchasing trends of the Gen Z market, reaching $12T by 2030

Strong ESG sentiment prevails with 77% of Gen Z saying they won’t buy from countries with poor environmental standards, identifying future generational spending pattern


CHICAGO, June 19 (Bernama-BUSINESS WIRE) -- NielsenIQ (“NIQ”) collaborated with World Data Lab ( WDL) to issue the first of its kind, comprehensive generational spending report purely focused on Gen Z. The research and analysis presented in the “Spend Z” report highlights NIQ’s commitment to delivering actionable market insights.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240605900003/en/

The report uncovers precisely what companies seeking to secure pathways to growth need to urgently and intimately understand about Gen Z, the largest and first truly global generation ever, including their preferences, spending habits, values, priorities, how and where they shop, what they purchase, and how they influence the purchasing patterns of other generations.

The report found that Gen Z, defined as anyone born between 1997 and 2012, makes up 25% (2 billion) of the world’s population, and their global spending power is projected to grow to $12 Trillion USD by 2030, potentially making them the wealthiest generation in every region of the world. The youngest generation is set to overtake Boomer spending by then. By 2034, Gen Z will add more than $9 trillion dollars in spending globally more than any other generation.

“Gen Z is here, they are ready to spend, and companies need to know how to pivot to serve them. Understanding what makes this generation different is key to unlocking the greater than $12 Trillion USD growth opportunity they represent,” said Tracey Massey, NIQ’s Chief Operating Officer. “Companies are trying to understand the opportunities for growth with Gen Z, and how they are influencing others. “Spend Z” is just one example of how NIQ helps our clients uniquely achieve their ambitions by anticipating and meeting consumer needs.”

Key Gen Z Takeaways:

• They demand authenticity: They are more interested in authentic relationships with influencers and brands. “Being true to yourself” is the number one ranked description of success for Gen Z globally. Belonging and self-esteem are two other top values, along with a strong sense of identity that is linked to social causes and activism.
• Unprecedented foot traffic: Their in-store purchases make up almost 50% of their share of dollars and is higher than every other generation before them, even though Gen Z begins their shopping journey online, ranks online reviews from other shoppers as the most important factor when shopping and is heavily influenced by social media.
• Global purchasing power: Gen Z will become the highest consumer spending class in many regions, and 30% of the global workforce in 2030. North America, Europe and APAC will continue to dominate the majority of spending with APAC becoming increasingly important. They currently have a more significant share of consumption in regions including Sub-Saharan Africa, Middle East & North Africa, and LATAM & Caribbean, where they make up a more substantial portion of the population.
• Health and wellness matters…to some extent: Overall they are health conscious and sustainability minded. The most dynamic demand growth among the Gen Z consumer class is in the health categories, as well as in alcohol / beverages.
  • 81% of TikTok USD sales are expected to come from health and beauty, showing an outsized impact.
  • Over 50% of Gen Z has used a fitness or exercise app, and 17% have used a fitness band to track health and fitness information.
• Technology accelerating behavior:
  • Online reviews from other shoppers are paramount when shopping with 53% of Gen Z population likely to make purchases on social media or live stream platforms.
  • 26% of Gen Z use their phones while shopping physically in store to make decisions compared to 23% of Gen Y, 18% for Gen X and 12% for Boomers.

With Gen Z prioritizing health and the environment, we also expect NIQ ​​Better For™ - a classification leveraging our proprietary algorithm to identify brands through product characteristics, positioning, sales and distribution - products to continue to grow faster than conventional products. This category includes products that are “better for” the consumer, the environment, and society. Currently, small brands and younger generations drive 62% of the growth in this category.

“Gen Z is the most connected, largest and influential generation yet,” said NIQ Chief Communication Officer Marta Cyhan-Bowles. “Gen Z will have fewer children – later, will have unprecedented spending power, and will continue prioritizing certain categories – like health and wellness – to an extent generations before them have not. Our analysis leaves no doubt: investment in Gen Z today will pay off tomorrow.”

"Gen Z is the largest, the richest, and the most global generation ever” said Wolfgang Fengler, CEO, WDL. “Businesses need to know that Gen Z is 2 billion people strong, and meeting their needs is a must.”

About Spend Z

Spend Z considers Gen Z over the short, mid, and long terms, with generational comparative brand loyalty analyses and a deep dive into what it means for companies in the CPG, tech/durables, and retail industries. The report is mission critical for thought leaders and decision makers looking to steer their companies toward the next frontier of successful growth - while protecting their successful existing businesses. Download a free copy of the report.

About NIQ

NielsenIQ (NIQ) is the world’s leading consumer intelligence company, delivering the most complete understanding of consumer buying behavior and revealing new pathways to growth. NIQ combined with GfK in 2023, bringing together the two industry leaders with unparalleled global reach. Today NIQ has operations in more than 95 countries covering 97% of GDP. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full View™.

About World Data Lab

World Data Lab (WDL) creates forward looking proprietary data to quantify and forecast consumer trends, consumer spending, demographic shifts and progress towards the SDGs up to 2034. Our advanced data science approach, which has been peer-reviewed and published in Nature, delivers unrivalled accuracy, freshness and consistency across all demographic groups in 180 countries and more than 6,000 cities.

Research methodology

The “Spend Z” report predicted consumer spending by merging household spending data obtained from national statistical agencies with population data from the United Nations and IIASA, incorporating 2,065 surveys covering 160 countries in the NIQ database. Where countries are missing survey data, spending is imputed by identifying characteristics of other countries with similar structures, optimally chosen using statistical techniques. Survey data is adjusted to be consistent with household expenditure provided in each country’s national accounts. Nowcasts and forecasts are based on IMF projections for the medium term and the Shared Socioeconomic Pathways developed for the UNFCCC for the long term. This comprehensive process enables NIQ and WDL to produce detailed and reliable forecasts of consumer behavior across 183 countries from 2016 to 2034, broken down by age, gender, and income class. We further disaggregate total spending into over 100 different product categories using COICOP classifications. Our core methods have been peer reviewed in nature https://www.nature.com/articles/s41599-018-0083-y

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240605900003/en/

Contact

Global Media Contact List:
Global:
Sweta Patra
Sweta.patra@nielseniq.com

APAC:
Liza Martija
liza.martija@nielseniq.com

LATAM:
Ari Rodriguez
ari.rodriguez@nielseniq.com

North America:
Gillian Mosher
gillian.mosher@nielseniq.com

Western Europe:
Julia Mayer
julia.mayer@nielseniq.com

EMEA:
Melina Mammidou
melina.mammidou@nielseniq.com

Source : NielsenIQ

Only 38 Pct Singaporean Executives Confident In Organisations' Ability To Be Productive - Survey

KUALA LUMPUR, June 12 (Bernama) -- The 2024 Kelly Global Re:work Report has revealed that executives are least confident in improving productivity with only 38 per cent in Singapore expressed confidence in their organisations’ ability to become more productive, compared to 54 per cent globally.

According to the specialty talent solutions provider Kelly in a statement, other key findings in Singapore showed that creativity and innovation are two critical skills missing in the workforce as over one third (36 per cent) of executives rate their teams’ creativity and innovation skills as poor, while more than 57 per cent agree that addressing skills gaps is high priority.

In addition, a mere 23 per cent of executives rate their organisations positively for supporting mental health initiatives and the good news was, 68 per cent say they are already taking steps or planning to address negative aspects of their organisation’s culture.

The report also revealed that career development is employees’ top concern with workers saying their top three frustrations are a lack of career progression (33 per cent), a lack of skills development opportunities (31 per cent), and a lack of autonomy over how they work (30 per cent).

As businesses struggle to adopt AI, more than half (51 per cent) view improved decision-making as the biggest benefit of AI, while only 43 per cent of the executives surveyed said they have adopted technologies required for employees to perform effectively.

Titled Building a Resilient Workforce in the Age of AI, the report also emphasises the importance of building a resilient workforce in the age of AI. It introduces the Workforce Resilience Index, which identifies Resilience Leaders (seven per cent of companies surveyed) who report better results in core business metrics and key people indicators compared to Mid-Market Performers (85 per cent) and Laggards (eight per cent).

Resilience Leaders reported increased revenue (70 per cent), improved profitability (61 per cent), improved customer satisfaction (74 per cent), improved ability to recruit talent  (79 per cent), and improved retention (72 per cent) compared to Laggards.

To build workforce resilience, the survey identifies four best practices namely, partnering with workforce solutions providers to develop agile and capable teams; leveraging new technologies for better visibility into talent demands; tapping into diverse perspectives and providing flexible work arrangements to empower employees; as well as prioritising wellbeing and mental health to improve performance.

-- BERNAMA

AM BEST WITHDRAWS CREDIT RATINGS OF ACCURO HEALTH INSURANCE SOCIETY LIMITED

SINGAPORE, June 13 (Bernama-BUSINESS WIRE) -- AM Best has withdrawn the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Accuro Health Insurance Society Limited (Accuro) (New Zealand) as the company no longer operates as an insurance company. At the time of the withdrawal, these Credit Ratings (ratings) were under review with developing implications.

On 31 May 2024, Accuro transferred its insurance portfolio to Union Medical Benefits Society Limited (UniMed). Immediately after this, the Reserve Bank of New Zealand canceled Accuro’s insurance license and Accuro no longer operates as an insurance company.

AM Best’s procedure is for a final rating opinion to be produced in conjunction with a rating withdrawal. However, because Accuro’s balance sheet does not contain any insurance assets or liabilities, AM Best was unable to produce a final rating opinion.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240612484839/en/

Contact

Yi Ding
Senior Financial Analyst
+65 6303 5021
yi.ding@ambest.com

Chris Lim, FCII, CFA
Associate Director, Analytics
+65 6303 5018
chris.lim@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

Carbon Market Heading Towards Greater Integrity - Calyx Global Report

 

KUALA LUMPUR, June 12 (Bernama) -- An analysis of the state of quality in the voluntary carbon market gives early indications that the market is moving towards higher integrity, according to a report by carbon credit ratings platform, Calyx Global.

“We wanted to start tracking quality, recognising that the voluntary carbon market is starting to mature. The quicker we improve carbon credit quality and restore confidence, the more effective companies can be at addressing climate change,” said Calyx Global Co-founder, Donna Lee.

According to a statement, key findings in the report stated that the issuance of lowest-grade credits has dropped nearly 50 per cent as a proportion of total issued credits to date, this year.

In addition, quality updates related to improving the rules and requirements for credit generation have not yet made their way onto the active market.

Furthermore, while benefits “beyond carbon” are attractive to buyers, it is a search for higher greenhouse gas (GHG) integrity that is driving trends in the market today.

The report integrates data on market trends from Calyx Global’s ratings of over 500 carbon projects to provide unique insights on how efforts to improve market integrity are faring.

After widespread pressure and scrutiny from the media and academia, many market actors have moved to address issues with the quality of carbon credits, in which this report tracks the effectiveness of those efforts.

-- BERNAMA

KELLY’S GLOBAL SURVEY FINDS BUSINESSES FAIL TO UNLOCK EMPLOYEES' FULL POTENTIAL

KUALA LUMPUR, June 12 (Bernama) -- Global survey by specialty talent solutions provider, Kelly has found that businesses are failing to unlock the full potential of their employees and poor workforce planning is holding back growth for most organisations.

The 2024 Kelly Global Re:work Report reveals executives are turning to artificial intelligence (AI) and automation to solve these challenges but struggle to implement digital strategies effectively and neglect to offer adequate training to employees.

Kelly president and chief executive officer, Peter Quigley in a statement said the survey showed that a strategic focus on workforce agility, capability, and inclusion strengthens productivity, growth and employee engagement.

“For those organisations struggling to build effective teams, our Workforce Resilience Index provides critical insights to take their talent strategies to the next level and a baseline for tracking their success over time,” he said.

The fourth annual global workforce report from Kelly, titled Building a Resilient Workforce in the Age of AI, shows 54 per cent of senior executives say poor workforce planning is impeding business growth and 47 per cent say they are missing business opportunities due to a lack of talent.

Workers attribute this failure to their employers, citing a lack of skills development and career progression as their top frustrations.

Notably, women say they are at a disadvantage in terms of career opportunities and are more likely to leave their current roles than men (34 per cent versus 20 per cent), while workers who identify as being part of a minority group are nearly twice as likely to say they plan to quit in the next 12 months.

Executives recognise these frustrations and acknowledge inadequate skill development and career advancement are key reasons for employee turnover, and despite this awareness, only one in four executives report their organisations offer sufficient face-to-face training programmes.

With many organisations using technology to solve these challenges, 64 per cent of them invest or plan to invest in AI or automation to improve employee productivity, efficiency, and engagement, but one in five executives admit their digital strategies to strengthen the workforce are ineffective.

The Re:work Report offers insights into how the world’s leading organisations achieve this, and for the first time, it features a Workforce Resilience Index, which reveals how best-in-class businesses are building agile, capable, and inclusive teams that thrive in the age of AI.

-- BERNAMA

BRAZIL’S PRESIDENT LULA TO SPEAK AT MAIDEN LATIN AMERICA FII PRIORITY SUMMIT

KUALA LUMPUR, June 11 (Bernama) -- The Future Investment Initiative (FII) Institute announced that Brazil’s President Luiz Inácio Lula da Silva will speak at the inaugural Latin America FII PRIORITY Summit in Rio de Janeiro on June 12, marking a significant milestone for the summit.

In a statement, FII Institute chief executive officer, Richard Attias said: “We are deeply honoured by President Lula’s decision to join us.

“As a global leader, his leadership and vision will greatly enrich our discussions and initiatives. The theme of our summit, ‘Invest in Dignity’, was inspired by President Lula’s vision.”

President Lula, who will be joined by several high-ranking Brazilian and Latin American government officials, underscores the importance of FII PRIORITY Rio in addressing key global priorities and promoting investment opportunities.

His attendance is a testament to Brazil’s integral role in shaping the future of global investment and sustainability.

The FII PRIORITY Rio de Janeiro Summit will take place at the Copacabana Palace from June 11 to 13, featuring a rich and diverse programme with world-renowned leaders and critical discussions on global issues.

-- BERNAMA

MYRIAD GENETICS-GSK ALLIANCE ENHANCES HRD TESTING ACCESSIBILITY IN 9 COUNTRIES

KUALA LUMPUR, June 12 (Bernama) -- Myriad Genetics Inc announced a collaboration with GSK aimed at improving access to homologous recombination deficiency (HRD) diagnostic testing for high-grade serous ovarian cancer (HGSOC) patients.

A new sponsored testing programme leveraging Myriad’s MyChoice HRD Plus and MyChoice CDx Plus Tests (collectively referred to as Myriad’s MyChoice Tests) is now available in Argentina, Brazil, Chile, Colombia, Egypt, Netherlands, Saudi Arabia, Singapore, and United Arab Emirates.

“Our collaboration with GSK is an important step forward in providing critical genetic insights that can help clinicians guide more personalised ovarian cancer treatment decisions.

“In the pursuit of advancing healthcare equity, Myriad is committed to extending the reach of our diagnostic solutions, like Myriad’s MyChoice Tests into additional markets to support more targeted patient care based on their genomic profile,” said its Executive Vice President of Strategy and Innovation, Patrick Burke in a statement.

This collaboration delivers on both companies’ shared commitment to improve care for patients with advanced ovarian cancer by facilitating access to genetic testing and demonstrates a mutual dedication to meeting an unmet need for patients who otherwise may not have access to testing.

HRD testing is an important predictive and prognostic biomarker for patients who have ovarian cancer.

Myriad’s MyChoice Tests determine HRD status in women with ovarian cancer whereby clinicians can order this test through their local pathology labs and samples are sent to Myriad Genetics.

A leader in genetic testing and precision medicine, Myriad Genetics is dedicated to advancing health and well-being for all by developing and offering genetic tests and guide treatment decisions across medical specialties.

-- BERNAMA

BRIBOOKS ANNOUNCES NATIONAL YOUNG AUTHORS' FAIR: MALAYSIA'S LARGEST STUDENT BOOK WRITING COMPETITION

Singapore, June 10 (Bernama) -- BriBooks, the world’s leading book writing and publishing platform for school students, proudly announces the launch of the National Young Authors’ Fair in Malaysia. This highly anticipated, invite-only event will see participation from some of Malaysia’s top schools, empowering their students to write and publish their own books. With over 600,000 users from 26+ countries, BriBooks continues to foster creativity and literacy among young writers globally.

The National Young Authors’ Fair is poised to become Malaysia's largest book writing competition, offering a transformative platform for young authors to showcase their talents. Participants will have the unique opportunity to write and publish their own books, gaining invaluable experience in the world of literature. The competition promises to be a life-changing experience, with students standing a chance to win certificates and prestigious awards.

In addition to national recognition, some of the finest works from the competition will receive international exposure. Select books will be featured at renowned global book festivals, including the Brooklyn Book Festival in New York, as well as prominent literary events in London, New York, and New Delhi. This exceptional opportunity will place young Malaysian authors on the world stage, celebrating their creativity and hard work.

“We are incredibly excited to bring the National Young Authors’ Fair to Malaysia,” said Rahul Ranjan, Co-Founder & CBO at BriBooks. “This event underscores our commitment to nurturing the next generation of writers and providing them with the tools and platforms to share their stories with the world. We look forward to witnessing the incredible talent that will emerge from this competition.”

The National Young Authors’ Fair is an invite-only event for top schools across Malaysia. Schools interested in participating can write to schools@bribooks.com for queries or to apply for an invitation. This exclusive competition emphasises creativity, education, and international recognition, inspiring and elevating the literary ambitions of Malaysia’s youth.

About BriBooks
BriBooks is the world’s largest book writing and publishing platform designed for school students, with over 600,000 users from 26+ countries. Dedicated to fostering creativity and literacy, BriBooks provides young writers with the tools and support needed to write, publish, and share their stories with a global audience.

Source: Advertising.com.my 

http://mrem.bernama.com/viewsm.php?idm=48783

DR MARÍA JOSÉ TORRES TAKES THE HELM AS EAACI PRESIDENT

KUALA LUMPUR, June 5 (Bernama) -- At the closing ceremony of the European Academy of Allergy and Clinical Immunology (EAACI) Congress, Professor of Medicine and Head of the Allergology Service of the Regional University Hospital of Malaga, Dr María José Torres has assumed the role of EAACI new President.

The EAACI Congress 2024, a meeting forum for experts in Allergy and Immunology from countries all over the world, witnessed Dr Torres becoming the first Spanish professional to hold this position, according to a statement.

In her speech at the plenary session titled “Drug allergy: today and tomorrow”, Dr Torres stressed that drug allergy is a huge burden on healthcare systems and represents, in some cases, a threat to the patient's life.

Responding to a significant increase in interest in the design of predictive models to stratify patients' risk of being allergic, in recent years, she added that it is essential to continue researching and working towards the goal of efficient precision medicine.

Meanwhile, Dr Ioana Agache, who chairs EAACI's Research and Outreach Committee (ROC), details that with allergic diseases and asthma as prototypical environmentally driven diseases, Planetary Health is another key feature of EAACI's research agenda.

“The ERN (EAACI Research Network) seeks to identify and coordinate allergy and asthma research in Europe, which currently includes almost 100 institutions from Europe and around the world.

“It should guide the future of allergy and asthma research in Europe and foster synergies and cooperation, reduce duplication of efforts and identify gaps and priorities that need the attention of funding organisations,”  Agache concludes.

-- BERNAMA

EAACI CONGRESS KICKS OFF IN SPAIN WITH MEDICINE, IMMUNOTHERAPY, AI AS KEY TOPICS

KUALA LUMPUR, June 4 (Bernama) -- The European Academy of Allergy and Clinical Immunology (EAACI) International Congress has commenced with the slogan “Revolutionizing patient care through the power of data science”, from May 31 to June 3, in Valencia, Spain.

According to EAACI in a statement, experts have gathered to discuss the latest advancements in allergies, which represent a significant public health issue, encompassing a variety of conditions, during the four-day event.

EAACI President, Stefano Del Giacco in a statement said: “In the field of precision medicine, identifying genetic variants associated with increased susceptibility to allergies and using specific biomarkers have improved the management of some types of allergies, allowing the development of more personalised treatments.”

Meanwhile, its Vice President, Mohamed Shamji said Big Data in Allergology enables the collection and analysis of large amounts of clinical, genetic, and environmental data, which are used to identify risk factors and allergy patterns.

“We are at a time of great and promising advances, though not without challenges,” concludes Shamji.

Artificial intelligence (AI) enhances allergy diagnosis through advanced analysis of clinical data and plays a crucial role in developing new treatments by identifying therapeutic targets and optimising molecules.

EAACI is the primary source of expertise in the field of allergy, asthma and clinical immunology, with over 15,000 members from more than 124 countries and over 50 National Allergy Societies.

-- BERNAMA

MOURI Tech Strengthens APAC Presence With Versant Systems Acquisition

KUALA LUMPUR, June 4 (Bernama) -- MOURI Tech LLC, a global enterprise information technology (IT) services provider, announced the acquisition of Versant Systems Pte Ltd, a Singapore-based IT services company.

This strategic move marks a significant milestone in MOURI Tech's expansion strategy, as it strengthens the company's presence in the Asia Pacific (APAC) region and meets the growing demands of its global clientele, according to a statement.

“With Versant's expertise in manufacturing and logistics sectors along with our diverse portfolio, we believe that we are well-positioned to provide enhanced services and solutions to our clients worldwide," said MOURI Tech Global Chief Executive Officer (CEO), Anil Yerramreddy.

Meanwhile, Versant Systems CEO, Sashidhar Bandi said joining forces with MOURI Tech opened up opportunities for the company, particularly in expanding its research and development (R&D) capabilities.

The acquisition of Versant Systems not only expands MOURI Tech's global footprint but also enables it to enhance its service capabilities and strengthen its position in the APAC region.

It provides Versant Systems with access to MOURI Tech's Centre of Excellence, enabling them to leverage best practices and innovative solutions.

Additionally, this move enables both companies to benefit from cost arbitrage in the changing global market scenario, ensuring a competitive edge in the industry.

Established in 2005, MOURI Tech endeavours to offer innovative solutions and unwavering commitment to client success, striving to deliver valuable results for a wide range of industries, including Fortune 500 companies.

-- BERNAMA

INTELSAT DELIVERS UNPRECEDENTED CONNECTIVITY TO PALAU WITH DUAL-SATELLITE SOLUTION

SINGAPORE, May 29 (Bernama-BUSINESS WIRE) -- Intelsat, operator of one of the world’s largest integrated satellite and terrestrial networks, has successfully implemented a dual-satellite connectivity solution for Palau, delivering reliable “always-on” service for Palau’s 18,000 inhabitants who live across nine islands in the main archipelago.

“Leveraging our extensive experience in the Asia-Pacific region, we were able to tailor a solution that perfectly meets Palau's specific needs for reliable connectivity,” said Gaurav Kharod, regional vice president, Intelsat. “This project exemplifies Intelsat's commitment to bridging the digital divide and fostering connectivity for all corners of the world.”

The Palau National Communications Corporation (PNCC) previously relied on a single undersea fiber-optic cable for all communication needs. But undersea cables are vulnerable to damage, as PNCC discovered when a planned week-long outage of Palau’s cable link to Guam was announced in July 2023. Possibly triggered by Typhoon Mawar, which hit Guam in May, this emergency repair compelled PNCC to limit international internet access solely to critical services.

Intelsat's solution for Palau utilizes two Intelsat geostationary satellites in separate orbital slots, offering unparalleled redundancy and flexibility. This multi-layered design, employing software-defined wide area networking (SD-WAN) technology, seamlessly blends the two satellites for ultimate resiliency. Critical infrastructure prioritizes C-band connectivity during outages, while the broader population benefits from the increased capacity of the Ku-band. This dual-band approach also provides PNCC with the ability to seamlessly scale Ku-band capacity as needed in the future. 

http://mrem.bernama.com/mrembm/viewsm.php?idm=18191 

DATAROBOT, IMDA TEAM UP TO ENHANCE LLM ACCESSIBILITY EVALUATION FOR AI BUILDERS WITH PROJECT MOONSHOT

SINGAPORE, May 31 (Bernama) -- DataRobot, the enterprise AI platform leader, today announced the integration of LLM evaluation measures aligned with a new initiative from the Singapore Government Agency, Infocomm Media Development Authority (IMDA). The “Project Moonshot” initiative unveiled at the Singapore Asia Tech x Summit offers new capabilities that help AI practitioners and system owners manage LLM deployment risks by providing a common framework for benchmarking and red teaming evaluation.

“At DataRobot, our focus is addressing the confidence gap and helping organizations scale responsible use of generative AI,” said Jay Schuren, Chief Customer Officer, DataRobot. “We’re excited to announce that our latest product release incorporates Project Moonshot’s testing toolkit and its benchmarking and evaluation tests. The result is that LLM evaluations are more accessible and help scale the responsible use of generative AI, enabling practitioners to turn on and configure guard models to change the behavior and responses of LLMs.”

For full release, click here : http://mrem.bernama.com/viewsm.php?idm=48717