STX GROUP LAUNCHES WORKING CAPITAL SOLUTION TO ACCELERATE RENEWABLE ENERGY TRANSITION

New SPV introduces innovative way to provide funding to environmental commodities markets

Amsterdam, Dec 6 (Bernama-GLOBE NEWSWIRE) -- AMSTERDAM (December 6, 2023) - STX Group, a leading environmental markets and climate solutions firm, today announces the launch of a working capital solution, specifically designed for environmental certificates. The launch comes as a response to the increased requirements for companies to hold environmental certificates to meet their ESG targets. Traditional financing methods often fall short in providing the necessary funding. STX Group has established an independent Special Purpose Vehicle (SPV) offering companies the necessary working capital funding for their environmental certificates.

The new service provides STX Group’s customers and counterparties with financial flexibility to manage the energy transition.

The newly launched SPV solution differs from traditional financing through the wide range of liquid and less liquid certificates that can be financed as well as offering higher advance rates. The SPV takes temporary ownership of the environmental commodities which may allow for balance sheet friendly treatment of the financing. The SPV is an attractive platform for lenders to gain access to one of the fastest growing parts of the credit universe. Through its extensive client base, STX Group has unrivaled access to counterparties looking to finance their environmental certificate holdings. This allows lenders to add collateralized credit exposure to highly rated counterparties to their portfolio.

The introduction of the SPV follows a sequence of new financial solutions and services introduced by STX Group earlier this year, placing the company at the forefront of incumbent financial markets where environmental commodities play an emerging role. This momentum is underscored by recent additions to STX Group's portfolio, including the April 2023 launch of the borrowing base facility where a broad base of environmental commodities was for the first time recognizes as collateral by global banks, and the unveiling of the STX Group carbon fund in October 2023. Both demonstrate the growing importance of environmental commodities as pivotal financial instruments.

“The launch of this new solution provides immense opportunities for our customers and counterparties as they increase their activities in environmental commodities markets. We are delighted to work with them by providing them with more efficient and secure market access,” said Bart Wesselink, Chief Financial and Risk Officer of STX Group.

The SPV is independently managed by Vistra, one of the leading fund administrator and corporate service providers. Vistra is regulated by Dutch Central Bank DNB.
 
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LAUNCH OF APO PRODUCTIVITY DATABOOK 2023

Example of data from the APO Productivity Databook 2023: Figure 5.13 Half-Century Total Factor Productivity index by Country, 1970-2021 (Graphic: Business Wire)

TOKYO, Dec 6 (Bernama-BUSINESS WIRE) -- The Asian Productivity Organization (APO) released the APO Productivity Databook 2023, an annual publication that provides an extensive compilation of productivity statistics and trends in the Asia-Pacific. It offers detailed analyses of productivity and economic growth patterns, helping stakeholders understand the current landscape and make informed decisions. The databook's rigorous methodology and data collection standards ensure its reputation as a reliable resource for anyone interested in the economic progress of Asian countries.
This press release features multimedia. View the full release here:
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Essential for data-driven decision-making, the APO Productivity Databook assists policymakers, business leaders, and researchers in economic planning, benchmarking national productivity against regional and global standards, and identifying growth opportunities and challenges.

Key Highlights of the APO Productivity Databook 2023

· Twenty-one APO member profiles and five regional profiles with productivity indicators.
· Introduces new methodologies, such as capitalization of mineral and energy resources (MER) and improved estimates of land stock and labor quality.
· Economic Growth Trends: From 2015 to 2021, Asia31’s (21 APO members and 10 nonmembers) economy grew annually by 4%. In 2021, they accounted for 48% of the global economy, compared with the USA (16%) and EU27 (14%). Projections for 2030 indicate Asia’s global economic share increasing to 53%.
· Sector-specific Analyses: Despite diversification efforts, agriculture, forestry, and fishery still dominated employment in Asia in 2021, accounting for 30% of jobs. Meanwhile, manufacturing emerged as a significant sector, comprising over 20% of total value added in 12 Asian countries.

The APO Productivity Databook 2023 is available in both digital and print formats and can be accessed and downloaded for free from the link below.

https://doi.org/10.61145/TRKP9496

The APO Productivity Database 2023, an online tool that provides productivity data on 31 Asian countries and benchmarks from multiple economic groups worldwide, is also updated in the link below.

https://www.apo-tokyo.org/productivitydatabook/

About the APO

The Asian Productivity Organization (APO) is a regional intergovernmental organization dedicated to improving productivity in the Asia-Pacific region through mutual cooperation. It is nonpolitical, nonprofit, and nondiscriminatory. Established in 1961 with eight founding members, the APO currently comprises 21 member economies: Bangladesh; Cambodia; the ROC; Fiji; Hong Kong; India; Indonesia; I.R. Iran; Japan; the ROK; Lao PDR; Malaysia; Mongolia; Nepal; Pakistan; the Philippines; Singapore; Sri Lanka; Thailand; Turkiye; and Vietnam.

The APO is shaping the future of the region by fostering the socioeconomic development of its members through national policy advisory services, acting as a think tank, institutional capacity-building initiatives, and knowledge sharing to increase productivity.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20231205691972/en/

Contact

For details contact:
Digital Information Unit, APO: pr@apo-tokyo.org;
Phone: +81-3-3830-0411;
Website: https://www.apo-tokyo.org.

Source : Asian Productivity Organization

--BERNAMA

ZENAS BIOPHARMA STRENGTHENS EXECUTIVE LEADERSHIP WITH APPOINTMENT OF JENNIFER FOX AS CHIEF BUSINESS OFFICER AND CHIEF FINANCIAL OFFICER AND TANYA FISCHER, M.D., PHD. AS HEAD OF R&D AND CHIEF MEDICAL OFFICER

Expanded strategic and operational leadership positions Zenas for growth as obexelimab advances in late-stage clinical trials for multiple potential I&I indications

WALTHAM, Mass., Dec 5 (Bernama-GLOBE NEWSWIRE) -- Zenas BioPharma, a global biopharmaceutical company committed to becoming a leader in the development and commercialization of inflammation and immunology (I&I) directed therapies, today announced the appointment of Jennifer Fox as its Chief Business Officer and Chief Financial Officer and Tanya Fischer, M.D., Ph. D as Head of Research and Development and Chief Medical Officer.

“We are thrilled to welcome Tanya and Jen to our executive team,” said Lonnie Moulder, Founder and Chief Executive Officer of Zenas BioPharma. “Tanya is a deeply experienced physician-scientist leader and Jen is a seasoned healthcare finance and corporate development leader. With their decades of industry leadership experience, they will each be an invaluable addition to Zenas as we head into our next phase of growth, advancing multiple global programs in late-stage clinical development with a goal to deliver differentiated I&I directed therapies to patients in need around the world.”

Ms. Fox is an experienced finance and corporate development executive with an extensive track record in corporate finance and healthcare investment banking, advising numerous private and public companies with respect to strategy, financings and mergers and acquisitions. Prior to joining Zenas, Ms. Fox served as Chief Financial Officer at Nuvation Bio, a publicly traded biotechnology company. She previously served as a Managing Director and Co-Head of North America Healthcare Corporate and Investment Banking Group at CitiGroup. Prior to CitiGroup, Ms. Fox held senior positions in investment banking at Deutsche Bank, Bear Stearns, Bank of America and Prudential Securities. She holds B.S. degrees in finance and marketing from Manhattan College.

Dr. Fischer is a physician-scientist with deep experience in academia and at both pharmaceutical and biotechnology companies, leading early and late-stage research and development programs across multiple therapeutic areas, including neurology and rare diseases. Prior to joining Zenas, she served as Chief Development Officer and Head of Translational Medicine at Biohaven, a publicly traded biopharmaceutical company. Dr. Fischer began her industry career at Bristol Myers Squibb and held R&D leadership roles of increasing responsibility at EMD-Serono, Sanofi-Genzyme and Alnylam. She is a neurologist and held appointments at Yale University School of Medicine following the completion of her Neurology residency at Yale New Haven Hospital. She obtained MD and PhD degrees from the University of Medicine and Dentistry of New Jersey - Robert Wood Johnson Medical School and Rutgers University, respectively, and was awarded the prestigious Presidential Early Career Award for Scientists and Engineers (PECASE).

About Zenas BioPharma

Zenas BioPharma is a global biopharmaceutical company committed to becoming a leader in the development and commercialization of inflammation and immunology (I&I) directed therapies for patients in need around the world. With clinical development capabilities and operations globally, Zenas is advancing a portfolio of potentially differentiated autoimmune therapeutics in areas of high unmet medical need. Our experienced leadership team and network of business partners drive operational excellence to deliver potentially transformative therapies to improve the lives of those facing autoimmune and rare diseases. For more information about Zenas BioPharma, please visit www.zenasbio.com and follow us on Twitter at @ZenasBioPharma and LinkedIn.

About Obexelimab

Obexelimab is an investigational Phase 3-stage, bifunctional, non-cytolytic, humanized monoclonal antibody that mimics the action of antigen-antibody complexes by binding CD19 and FcγRIIb to inhibit B-lineage cell activity. In several early-stage clinical studies, including in various autoimmune diseases, 198 subjects were treated with obexelimab. In these clinical studies, obexelimab demonstrated inhibition of B cell function without depleting the cells, resulting in encouraging treatment effect in patients with various autoimmune diseases. Zenas acquired exclusive worldwide rights to obexelimab from Xencor, Inc. Obexelimab is currently being studied in a global Phase 3 clinical study in patients with IgG4 Related Disease and a global Phase2/3 study in patients with warm autoimmune hemolytic anemia (wAIHA). Clinical development of obexelimab for Multiple Sclerosis and Systemic Lupus Erythematosus is under evaluation.

More information on the Phase 3 (INDIGO) study for the treatment of IgG4 Related Disease is available at clinicaltrials.gov: NCT05662241. More information on the Phase 3 (SApHiAre) study for the treatment of wAIHA is available at clinicaltrials.gov: NCT05786573.

Investor and Media Contact:
Joe Farmer, President & COO
Zenas BioPharma
IR@zenasbio.com

SOURCE: Zenas BioPharma (USA) LLC

--BERNAMA

DUCK CREEK TECHNOLOGIES UNVEILS THE NEXT GENERATION OF DATA MANAGEMENT AND ANALYTICS WITH THE LAUNCH OF DUCK CREEK CLARITY™

The company’s newest product introduction will transform the future of data-driven excellence for the insurance industry

BOSTON, Dec 6 (Bernama-GLOBE NEWSWIRE) -- Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces the release of Duck Creek ClarityTM, an innovative, cloud-native technology solution and the successor to Duck Creek Insights, designed to empower insurers with advanced data management, reporting, and analytics capabilities. With the introduction of Duck Creek Clarity, the company also modernizes the traditional technology upgrade cycle through a unique "Active Delivery" approach, which provides continuous updates and eliminates the need for insurers to undergo timely and costly upgrade projects.

Duck Creek Clarity is a cloud-native offering that simplifies the process of accessing, managing, and unifying data originating from Duck Creek's SaaS-based (software-as-a-service) core systems, including policy, billing, and claims solutions. With the ability to seamlessly integrate external data sources, Duck Creek Clarity enables teams to gain comprehensive insights, leading to enhanced decision-making and improved loss ratios. Insurers can harness this powerful service for both daily operational reporting and strategic long-term planning, setting the stage for portfolio-wide improvements.

Duck Creek Clarity leverages the Snowflake Data Cloud to equip insurers with curated data layers and a suite of pre-built business intelligence dashboards and reports, facilitating more informed underwriting and renewal decisions, as well as team performance evaluation. This new offering also simplifies data integration into AI/ML (artificial intelligence/machine learning) models, consumer and agent/broker applications, and third-party systems, empowering insurers to make well-informed decisions at every stage of the insurance lifecycle, from underwriting to billing and claims.

"We are ushering in a new era of data-driven excellence with the launch of Duck Creek Clarity,” said Jess Keeney, Chief Product & Technology Officer, Duck Creek Technologies. “Duck Creek has proven the solution’s robust capabilities are an essential element that supports data ownership and agile decision-making, which offers insurers a greater competitive edge in the marketplace. This is only the beginning of Duck Creek's commitment to ongoing investment in data and analytics that enable insurers across the globe to be smarter and faster in their response to market opportunities. Duck Creek Clarity is a pivotal step in our technology roadmap vision to provide insurers with the means to ‘execute with intelligence,’ optimize operational efficiencies, and provide more personalized customer experiences.”

“Data is a critical building block for insurance companies looking to unlock the true power and efficacy of advanced analytics and generative AI,” said Tom Benton, Partner at ReSource Pro (formerly known as Strategy Meets Action). “Insurers need data management and analytics tools like Duck Creek Clarity that can break down data silos and provide a path toward rapidly accelerating their level of data maturity, and ultimately help insurance product management, underwriting, and claims teams make smarter decisions and deliver more differentiated customer experiences.”

Join the Duck Creek Technologies live product launch webinar on Thursday, December 7, 2023, at 12:00 p.m. ET to learn more about empowering data-driven insurance decisions with Duck Creek Clarity.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Media Contacts:

Carley Bunch
carley.bunch@duckcreek.com

SOURCE: Duck Creek Technologies

--BERNAMA

ABDULAZIZ AL-GUDAIMI, ARAMCO VETERAN, JOINS EIG AS SENIOR ADVISOR AND CHAIRMAN OF MENA OPERATIONS

_{(Photo: Business Wire)}

WASHINGTON, Dec 4 (Bernama-BUSINESS WIRE) -- EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that Abdulaziz Al-Gudaimi has joined EIG as Senior Advisor and Chairman of EIG’s Middle East & North Africa (“MENA”) Operations. Mr. Al-Gudaimi, formerly Executive Vice President of Corporate Development at Saudi Aramco (“Aramco”), has over 38 years of experience in energy markets and will provide strategic counsel to EIG on its investment activities and continued growth in the region.

This press release features multimedia. View the full release here:
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“We are thrilled to welcome Abdulaziz to the firm,” said R. Blair Thomas, EIG Chairman and CEO. “His deep sector expertise and wealth of experience in MENA will be instrumental for EIG in sourcing additional investment opportunities across critical energy and energy-related infrastructure, and for our portfolio companies as they navigate the complex challenges of transitioning to a low-carbon future.”

“I have come to know Blair and the EIG team through the firm’s partnership with Aramco and am eager to build on their success in the region,” said Mr. Al-Gudaimi. “As the energy transition continues in importance and paves the way for a better tomorrow, EIG is well positioned to find opportunities to leverage its operational expertise and bolster the decarbonization of the region’s energy sector. I look forward to helping create value for the firm’s portfolio companies and its investors.”

Mr. Al-Gudaimi served as Executive Vice President of Corporate Development at Aramco before retiring from the position in December 2022. In this role, he helped Aramco secure greater access to growth markets and technologies through portfolio optimization and strategic alignment. Mr. Al-Gudaimi previously held several other leadership positions at Aramco, including Senior Vice President of Downstream and Vice President of Power Systems. Mr. Al-Gudaimi currently serves as a Director of Vision Invest Holding and Saudi Alfransi Bank and previously served as Chairman of the Boards of Motiva Enterprises LLC, Arlanxeo, Saudi Aramco Total Refining and Petrochemical Company, Aramco Trading Company and Petro Rabigh. He holds a BS in Petroleum Engineering and a Master of Business Administration.

About EIG

EIG is a leading institutional investor in the global energy and infrastructure sectors with $23.0 billion under management as of September 30, 2023. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 41-year history, EIG has committed over $45.9 billion to the energy sector through over 400 projects or companies in 42 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20231201817393/en/

Contact

Media
FGS Global
Kelly Kimberly / Brandon Messina
+1 212-687-8080
EIG@fgsglobal.com

Source : EIG

--BERNAMA

Fusionex Joins Forces With Frost & Sullivan To Drive Innovation, Business Excellence

KUALA LUMPUR, Dec 1 (Bernama) -- Prominent data technology market leader, Fusionex has entered into a collaborative alliance with Frost & Sullivan, to drive innovation and business excellence.

In a statement, Fusionex said this milestone is marked by the formal signing of a memorandum of understanding (MoU), reaffirming both parties’ commitment to combine their strengths and resources to deliver comprehensive solutions.

“This partnership with Frost & Sullivan is a testament to our joint commitment to pushing the boundaries of technology and innovation as well as driving our ESG initiatives forward.

“We are dedicated to unlocking our clients' full potential through the effective use of cutting-edge technology, catalysing positive change in the industry, and in doing so, set a new standard for the global stage,” said Fusionex Group Chief Executive Officer, Datuk Seri Ivan Teh.

Meanwhile, Frost & Sullivan Malaysia Country Head, Hazmi Yusof said: “We are excited to partner with Fusionex given their conflating business strategy and strong technology implementation capabilities, thus, this collaboration will provide growth led digital transformation to our clients in Malaysia.”

The journey toward this significant partnership has been paved by a history of successful ventures between Fusionex and Frost & Sullivan, in which these joint successes have strategically positioned both parties to capitalise on emerging opportunities, drive innovation, and deliver transformative solutions together.

Central to this partnership is a vision to provide end-to-end solutions that surpass client expectations, and this comprehensive approach extends the entirety of the value chain, with both parties jointly advancing the boundaries of thought leadership to the forefront, focusing on technology innovation and business strategy.

This partnership empowers clients with the distinct advantage of accessing a comprehensive suite of services, aligning business opportunities to technological advancements, and receiving dedicated support throughout their journey.

Furthermore, this partnership underscores a mutual commitment to artificial intelligence (AI), next-generation technologies, and sustainable business practices, reflecting the forward-thinking nature of both companies, highlighting their dedication in helping businesses harness the transformative power of AI, equip clients for the digital future and champion sustainable business practices.

-- BERNAMA

Wella Company Celebrates 3-year Anniversary With Consecutive Growth

KUALA LUMPUR, Nov 30 (Bernama) -- Wella Company, an innovative global leader in the beauty industry marked its third year as an independent company, demonstrating broad-based growth balanced across brands, categories and geographies.

Wella Company achieved high single-digit growth in constant currency in fiscal year 2023 (FY23), which closed at the end of June, cementing its foothold as one of the fastest-growing companies in the sector.

“Looking at 2023, we are beginning to realise the benefits of the successful brand transformations across our portfolio and breakthrough innovations. We are also seeing our business mature and expand across channels and markets.

“In fiscal year 23, we grew our top line and profitability and expanded our market share, and we expect fiscal year 2024 will continue that growth trajectory,” said its Chief Executive Officer, Annie Young-Scrivner in a statement.

Continuing on the success of its leading professional hair colour brand, Koleston Perfect (KP), which sold 1.5 tubes per second globally in FY23, the company has established its professional colour credential as the No. 1 Salon Color Brand in the World, and continues to invest behind elevating its core through expansion into hair care, as well as across the nail and beauty tech portfolio.

The company has also grown its eCommerce sales at a rate of more than twice the market growth by increasing partnerships with top eComm retailers, investing in digital-first brand building, and consistently improving user experience on its owned eComm platform WellaStore to meet the needs of salon professionals.

Since its inception in 2020, Wella Company has reported year-over-year growth in both developed and emerging markets with portfolio of iconic professional and retail hair, nail, and beauty tech brands including Wella Professionals, O·P·I, ghd, Briogeo and Nioxin.

The company’s innovations touted patented technology in several areas, while continuing to elevate the look and experience of its brand portfolio, which include launching a revolutionary hair product innovations combining both speed and performance results, in addition to refreshed its packaging across its haircare line, including shampoos and conditioners, contributing to driving double-digit revenue growth globally.

Meanwhile, addressing the growing trend in scalp care, the company introduced two top-performing entrants into the space including Nioxin Ultimate Power Serum, a highly effective leave-on scalp treatment designed to strengthen hair from the root and increase hair anchorage.

It also issued Environmental and Social Impact Report 2022, the first measured analysis of its efforts to positively impact People, Planet and through its Products with key highlights include a broad-based employee ownership programme, and committed to reducing carbon footprint as well as water use and waste.

-- BERNAMA