HONG KONG’S TUGU INSURANCE CREDIT RATINGS AFFIRMED - AM BEST

KUALA LUMPUR, April 14 (Bernama) -- Global credit rating agency, AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Hong Kong’s Tugu Insurance Company Limited (TIC).

In a statement, AM Best said the outlook of these Credit Ratings (rating) is stable, reflecting TIC’s balance sheet strength, which AM Best assessed as strong, as well as its marginal operating performance, limited business profile and marginal enterprise risk management (ERM).

TIC’s strong balance sheet assessment is supported by its risk-adjusted capitalisation assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio.

The company’s capital and surplus has been volatile over the past five years, due to the combined effect of unsteady operating results and revaluation gains or losses arising from its concentrated investment properties.

AM Best viewed TIC’s operating performance as marginal in which the company has reported solid premium growth since 2021; nonetheless, it continued to record an elevated level of expense ratio due to its small premium base.

The company’s investment return has been relatively stable, supported by a stream of rental income from its investment properties, coupled with dividends from listed bonds and common shares, as well as interest income from cash and deposits.

Annual revaluation of investment properties, on the other hand, adds uncertainty to TIC’s net profits or losses, with AM Best expecting TIC’s overall profitability to remain thin over the short to medium term.

United States-headquartered AM Best assessed TIC’s business profile as limited. The company remains a small player in Hong Kong’s highly competitive and fragmented general insurance market.

The rating agency also viewed TIC’s ERM as marginal with underwriting, strategic planning and reserving activities have historically been areas in which the company’s risk management capabilities do not match its profile.

-- BERNAMA

NOMINATIONS OPEN FOR FUTURE DIGITAL AWARDS FOR SMART CITIES & IOT INNOVATION 2023 - JUNIPER RESEARCH

KUALA LUMPUR, April 13 (Bernama) -- Juniper Research announced that entries are now open for the Future Digital Awards for Smart Cities & IoT Innovation 2023.

According to a statement, entries close on May 19, before being assessed by Juniper Research’s expert panel of analysts, and the awards will be announced on June 21.

Since 2008, the Future Digital Awards have been awarded to tech companies at the forefront of their respective fields: companies that deliver imaginative and innovative products or services that have the potential to disrupt their ecosystems and provide significant benefits to their target audience.

These awards aim to reward the most innovative vendors and solutions in the rapidly evolving smart cities & Internet of Things (IoT) markets, as a renewed focus on sustainability drives further developments in this dynamic industry.

The categories included for IoT Innovation are Best IoT Security Platform (Platinum & Gold); Most Innovative Edge Computing Solution (Platinum & Gold); Best IoT Device Management Platform (Platinum & Gold); and Smart Agriculture Solution Innovation (Platinum & Gold).

Meanwhile, for Sustainability & Smart City Innovation, categories include Best Smart Traffic Management Solution (Platinum & Gold); Best Smart Parking Solution (Platinum & Gold); Innovation in Smart Urban Lighting (Platinum & Gold); and Urban Smart Grid Innovation (Platinum & Gold).

While the rest of the awards focus on products and solutions, the Judges’ Choice awards focus on the organisations driving true innovation in global smart city deployment.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

-- BERNAMA

BYE, BYE, SPAM AND SCAM: TRUECALLER PIONEERS LIVE CALLER ID EXPERIENCE FOR IPHONE USERS

KUALA LUMPUR, April 13 (Bernama) -- Truecaller, the world’s leading global communications platform, has announced the introduction of a major update of its product on iPhone.

The update brings in new, exciting features which will provide an improved and more secure communication experience for iPhone users worldwide. This complete Live Caller ID experience is now on iPhone for the first time.

In a statement, Truecaller co-founder and chief executive officer, Alan Mamedi said: “Live Caller ID on iPhone is the one major aspect that has eluded our iPhone app and we are excited to finally introduce it.

“Ever since we completely revamped the Truecaller experience on iPhone a few months ago, we have been seeing strong growth from multiple countries. And now, Live Caller ID will work to keep our iPhone users safe from the growing menace of spam and scam.”

To set up Truecaller Live Caller ID on iPhone, users need to go to the Premium tab within the app and click on ‘Add to Siri’ to help users add the shortcut with one tap. When using this feature for the first time, users will be asked to allow access for Truecaller; choose ‘Always allow’ to avoid being prompted again.

After setting up the Siri shortcut, simply say ‘Hey Siri, search Truecaller’ and Truecaller will instantly tell the user who is calling, whenever receiving an incoming call from an unknown number.

The app will then do a quick search and present it on the calling screen itself and this new feature is exclusively available to Premium subscribers of Truecaller on iOS 16 and newer.

In addition, users can now read other members' feedback on spammers as well as contribute comments of their own, empowering them to report on their own experience while further enhancing Truecaller’s spam detection capabilities with community input.

Now, incoming messages from short messaging service (SMS) will be automatically categorised into Finance, Orders, Reminders, Coupons, Offers and Junk via revamped SMS filtering.

-- BERNAMA

AIRWALLEX SURVEY: SINGAPORE SMES BRACE FOR POTENTIAL RECESSION WITHIN 2 YEARS

 


KUALA LUMPUR, April 13 (Bernama) -- A new survey from global fintech Airwallex revealed seven in 10 small and medium-sized enterprises (SMEs) in Singapore are bracing for a potential recession within the next two years.

The independent research considered the challenges SMEs in Singapore would face amid the current economic uncertainty, how they would get around them, and how fintechs could support their future growth.

“The challenges identified by SMEs in the survey findings are consistent with what we have been hearing from our customers, with rising costs and ways to manage it being a consistent theme in conversations,” said Airwallex Director, SME and Growth, Singapore, Low Cher Hao.

According to a statement, rising costs are among the top three pain points for two-thirds of Singapore SMEs. Rising costs from suppliers (35 per cent) accounts for the highest rise in business cost, followed by employee costs (30 per cent) and logistical disruption costs (23 per cent) likely due to the pandemic.

To optimise their operations amid an increasingly uncertain environment, SMEs are taking a prudent approach to their financial spending, with nearly two-thirds looking to reduce business spending and/or optimise operations through technology in the next six-12 months.

In addition, improving efficiency (42 per cent), growing revenue (40 per cent), and market share (33 per cent) were the top three priorities for SMEs surveyed.

While SMEs continue to maintain a high level of confidence in traditional banking providers, the survey found that 93 per cent of businesses in Singapore hold a high level of trust in fintech and digital platforms to support their business activities.

More than nine in 10 SMEs have already adopted or are planning to adopt digital or fintech solutions to support their businesses' financial needs, with benefits include saving time (58 per cent), ease of access (50 per cent) and greater control over transactions (48 per cent).

The survey found that nearly two-thirds (64 per cent) of SMEs plan to expand their business overseas in the next 12 months with Southeast Asia remains a top expansion region, and top five favoured markets for expansion are Malaysia, the Netherlands, Indonesia, Vietnam and the Philippines.

The survey from Airwallex was carried out by Censuswide from March 16 - 23, among 255 SME business decision makers in Singapore.

-- BERNAMA

ROBOTPLUSPLUS TO UNVEIL INNOVATIVE HYDROBLASTING ROBOT AT SEA ASIA 2023 IN SINGAPORE

KUALA LUMPUR, April 12 (Bernama) -- RobotPlusPlus, a prominent provider of robots designed for work-at-height, will showcase its Hydroblasting Robot - the HighMate V40 at Sea Asia, a distinguished maritime and offshore event in Singapore from April 25-27.

The first Chinese company to specialise in the design and manufacture of such robots, RobotPlusPlus’ HighMate V40 is equipped with a wastewater recovery system that can recycle up to 99.99 per cent of the wastewater used during its operations.

The HighMate V40 offers several features including autonomous hydroblasting and automatic lane change, making it a preferred option for surface preparation.

“Our HighMate robots comply with European standards and have successfully passed both the Machinery Directive and Radio Equipment Directive tests. Moreover, TÜV Rheinland has granted us CE certification,” said RobotPlusPlus Founder and Chief Executive Officer, Dr Huanyang Xu in a statement.

RobotPlusPlus’ office in Singapore offers round-the-clock technical consulting and customer service to its clients, showcasing commitment to providing safe, environmentally-friendly and quality robotic solutions for work-at-height.

RobotPlusPlus not only provides robots but also a comprehensive package solution for hydroblasting including UHP pumps, vacuum recovery pumps, filtration units, and other necessary equipment, helping clients decrease costs, increase efficiency and reduce environmental impact.

With its mission to enhance human capabilities with the help of robots, RobotPlusPlus will continue offering the latest technological advancements in robotic solutions for work-at-height, to clients worldwide.

Founded in 2015, RobotPlusPlus focuses on the independent research and development of intelligent specialised robots, and is the first company in China to realise the industrialisation of aerial work robots.

-- BERNAMA

CHITOSE GROUP OBTAINS FUNDING FROM JAPANESE GOVERNMENT-AFFILIATED NEDO FOR GREEN INNOVATION FUND OF USD400M RANGE

KAWASAKI, Japan and SINGAPORE, Apr. 12, 2023 /Kyodo JBN-AsiaNet/ --

Chitose Laboratory Corp., the core company of the CHITOSE Group (hereinafter "CHITOSE"), has won funding from a Japanese government-affiliated entity for a project on the self-proposed theme of "Building a global industry originating in Japan based on the direct use of CO2 through photosynthesis" for the "Green Innovation Fund Project (hereinafter "GI Fund"): Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material." CHITOSE has been selected as a prospective implementing agency for this theme by the New Energy and Industrial Technology Development Organization (hereinafter "NEDO"). The total project cost is approximately USD400 million, and the implementation period is scheduled from FY2023 to FY2030.   Project partners' logos: https://kyodonewsprwire.jp/prwfile/release/M107621/202304054622/_prw_PI1fl_MS4l1pKj.jpg     CHITOSE is collaborating with other companies/organizations in various positions and industries through the "MATSURI" (meaning "festival" in Japanese) project to build a new algae-based industry to replace the petroleum-based industry. CHITOSE is working on the development of bio-products, the construction of the world's largest 5-hectare microalgae production facility and the demonstration of long-term large-scale production in Malaysia (*).   Under the GI Fund project theme, for which CHITOSE has been selected as a prospective implementing agency, it will develop the algae production technology on a 100 ha production scale with a focus on both economic rationality and environmental sustainability, and on the development of a wide range of applications such as chemical products, toiletry, fuels, feeds and foods using microalgal biomass produced directly from CO2 as a raw material. Through these business activities, CHITOSE will promote the establishment of a global algae-based industry originating from Japan, and contribute to the realization of zero carbon emission by 2050 as advocated by the Japanese government.   This project will be implemented with 34 partner companies of the MATSURI project operated by CHITOSE, Sumitomo Mitsui Banking Corporation (SMBC), Hiroshima University, Nagaoka University of Technology, Nagoya University, and Institute of Microalgal Technology, Japan (IMAT). In addition, CHITOSE will start raising private funds in order to accelerate this project through the GI Fund.   MATSURI partners' enthusiasm and expectations for this project https://kyodonewsprwire.jp/attach/202304054622-O1-SkgkNm4n.pdf   About the commissioned and subsidized project which has been adopted - Business/project name: Green Innovation Fund Project (GI Fund): Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material   - Adopted theme: Building a global industry originating in Japan based on the direct use of CO2 through photosynthesis   - Theme overview: Using microalgae, with sunlight as an energy source and CO2 as a direct feedstock, the commercial production of chemicals such as bioplastics and functional materials, fuels, foods and feeds, with the aim of realizing zero carbon emission by 2050.   - NEDO disclosure of information on this matter Details of the public call: https://www.nedo.go.jp/koubo/EF2_100190.html (Japanese) Adoption announcement: https://www.nedo.go.jp/koubo/EF3_100190.html (Japanese) Press release on the adoption: https://www.nedo.go.jp/news/press/AA5_101619.html (Japanese)   * Commissioned by NEDO to Chitose Laboratory Corp. since 2020 - Press release on adoption: https://chitose-bio.com/jp/news/3514/ (Japanese) - Press release on the start of operation: https://chitose-bio.com/jp/news/5124/ (Japanese)   About MATSURI The MATSURI project aims towards the establishment of an advanced microalgae-based industry. CHITOSE has considerable expertise in large-scale microalgae production technologies, and is leading the MATSURI project collaborating with Japanese progressive enterprises. As what MATSURI means in Japanese, CHITOSE keeps leading a festival to develop a sustainable society.   Image: https://kyodonewsprwire.jp/prwfile/release/M107621/202304054622/_prw_PI2fl_oI14u9jJ.jpg     Video: A story with a heart for the future, the MATSURI project for building the "algae industry": The world's largest microalgae production facility will accelerate from here. https://matsuri.chitose-bio.com/pages/gallery   Website: https://matsuri-partners.chitose-bio.com/en   About CHITOSE Group CHITOSE Group is a family of biotechnology companies leading the global bioeconomy. To live in abundance beyond the next millennium using the ability of living things, CHITOSE pursues the possibilities of biotechnology through technological and business development collaborating with its business partners all over the world.   Website: https://chitose-bio.com/   About CHITOSE BIO EVOLUTION PTE. LTD. (head office that oversees entire Group) Established in October, 2011 Head Office located in Singapore CEO: Tomohiro FUJITA, Ph. D.   About Chitose Laboratory Corp. (responsible for the project) Established in November, 2002 Head Office located in Kanagawa Prefecture, Japan CEO: Tomohiro FUJITA, Ph. D. COO: Rie KUGIMIYA    http://mrem.bernama.com/viewsm.php?idm=45870

ACTYV.AI, PWC INDIA PARTNER TO ENHANCE DIGITAL TRANSFORMATION, EMBEDDED FINANCE ACROSS SUPPLY CHAIN

KUALA LUMPUR, April 11 (Bernama) -- Singapore-headquartered actyv.ai, a category creator in the enterprise software-as-a-service (SaaS) with embedded finance space announced a strategic partnership with PwC India.

The alliance will focus on leveraging PwC India’s expertise in supply chain transformation and using the power of artificial intelligence (AI) to drive growth opportunities while providing access to embedded financial and insurance products.

In a statement, actyv.ai Founder and Global Chief Executive Officer, Raghunath Subramanian said PwC is recognised for its high-quality consulting, digital transformation strategy and customer success.

“As part of this strategic partnership, PwC will enable actyv.ai to reach out to enterprises globally to deliver technology solutions, implementation and support,” he said.

Meanwhile, PwC India Partner & Leader – Alliances & Ecosystems, Vivek Belgavi said: “actyv.ai is a great addition to PwC’s expanding alliance ecosystem aimed at transforming global supply chains.

“Our combined value proposition with actyv.ai will help us deliver sustained outcomes for our clients by offering them the most relevant and agile supply chain solutions for their business,” added Belgavi.

actyv.ai is an AI-powered enterprise SaaS platform with embedded business-to-business (B2B) Buy Now Pay Later (BNPL) and insurance, transforming the global B2B supply chain by making business transactions faster and easier.

-- BERNAMA

FROM MINE TO ROSTRUM: SOTHEBY'S TO AUCTION ONE OF THE GREATEST GEM DISCOVERIES OF THE CENTURY

AT 55.22 CARATS, THE RARE GEMSTONE IS THE LARGEST & MOST VALUABLE RUBY TO EVER APPEAR AT AUCTION

EXPECTED TO ACHIEVE IN EXCESS OF $30 MILLION UNEARTHED IN MOZAMBIQUE AND CUT FROM A 101 CARAT ROUGH

THE WORLD’S LARGEST GEM-QUALITY RUBY IN EXISTENCE - THE ESTRELA DE FURA 55.22 WILL HIGHLIGHT SOTHEBY’S MAGNIFICENT JEWELS AUCTION THIS JUNE

“Already in its rough state, the Estrela de Fura showed its extraordinary quality traits with a potential to become a one-of-a-kind gemstone.
The cutter was able to realize this potential and created a faceted ruby with an astounding 55.22 ct weight, displaying a saturated and homogeneous red color, combined with a degree of clarity unseen in any other unheated ruby of comparable size.
To see a natural ruby of this size, with such a combination of quality characteristics spared from treatment was considered almost unimaginable.
The natural ruby of 55.22 ct is setting a new record not only for Mozambican rubies, but also for rubies in general.”
The Gübelin Gem Lab

NEW YORK, April 6 (Bernama-GLOBE NEWSWIRE) -- When FURA Gems announced its historic uncovering of the world’s largest gem-quality ruby ever discovered in September 2022, the news dominated headlines the world over, prompting tremendous excitement and taking the gemstone market by storm. Unearthed from FURA’s ruby mine in Montepuez, Mozambique in July of 2022, the gemstone – weighing an astonishing 101 carats – was subsequently named Estrela de FURA (Star of FURA in Portuguese), in a nod to its outstanding depth of color and size, and to shine a spotlight on Mozambique as a rich source of premium quality rubies. Even in its rough, untouched state, Estrela de FURA was considered by experts as an exceptional treasure of nature for its fluorescence, outstanding clarity and vivid red hue, known as ‘pigeon’s blood’ - a color traditionally associated only with Burmese rubies.

Now seven months after its initial debut, as the hammer fell on the final lot of The Exceptional Luxury Evening Auction in Hong Kong, speculation on the ruby’s whereabouts were finally put to rest when Sotheby’s auctioneer, Uni Kim, officially unveiled Estrela de FURA 55.22 to the world. Weighing a sizable 55.22 carats, this exceptionally important and rare Mozambique gem is the largest gem-quality ruby to ever appear at auction. Its combination of rich saturation of color, untouched by heat treatment, highly crystalline appearance and incomparable size that – with an estimate in excess of $30 million – places Estrela de FURA 55.22 as the most valuable and important ruby ever to come to market.

Following an initial series of studies of the 101 carat rough crystal to determine cutting options in the beginning of year, Estrela de FURA was masterfully cut and faceted by a team of artisans - with the rough transformed into a beautiful cushion-shaped stone, which according to a report from the Swiss Gemmological Institute (SSEF), “resulted in vivid red hues due to multiple internal reflections.” The report further states, “a natural ruby from Mozambique of this size and quality can be considered very rare and thus anexceptional treasure of nature.” The aforenamed gem is profoundly rich in chromium which, when exposed to ultraviolet light - as found in sunlight - causes the stone to radiate a fiery red fluorescence, further enhancing the stone’s vibrancy, as though lit from within.

The ruby has become one of the most sought-after colored gemstones at a time when color dominates the world of jewels and rarity drives the market. Rubies of this importance and magnitude are exceedingly rare, with only two examples having ever broken the $15 million barrier at auction, making the appearance of the present gem a landmark event in itself. The Gübelin Gem Lab states further that the ruby “is setting a new record not only for Mozambican rubies, but also for rubies in general.” Estrela de FURA 55.22 is poised to make history as it sets to surpass The Sunrise Ruby, a 25.59 carat ruby of Burmese origin, which sold for $30.3 million ($1,185,451 per carat) at Sotheby’s Geneva in 2015, and still holds the world auction record for a ruby*.

The stone’s new journey commences today at Sotheby’s Hong Kong, where it will then embark on a worldwide tour, with exhibitions scheduled in Taipei, China, Singapore, Geneva and Dubai (full dates will be released in due course) before it stars in Sotheby’s Magnificent Jewels auction in New York on 8 June.
_______________________________________________________________________

“The miraculous discovery last year of the 101 carat Estrela de FURA at the FURA mine in Mozambique was of immense importance, shocking all those in the jewelry world. Now, in its newly transformed state of 55.22 carats, Estrela de FURA 55.22, is a true wonder of nature and sensational stone of perfect color and exceptional clarity, combined with a superb cushion shape. It is undoubtedly positioned to become the standard bearer for African rubies - and gemstones in general, bringing global awareness to their ability to be on par with, and even outshine, those from Burma, which have traditionally been the most desirable and recognizable source for rubies,” declares Quig Bruning, Head of Sotheby’s Jewelry, Americas.

“We, at FURA, are incredibly proud of the discovery of Estrela de FURA at such an early part of our Mozambican journey. Important gemstones, such as Estrela de FURA, are extremely rare, and a beautifully faceted gem-quality ruby of 55.22 carats is almost unheard of. From the in-depth analysis and study of the stone - through the process of cutting and polishing - we have worked with the utmost care and respect for the Ruby, recognizing its importance and stature. Witnessing the completion of Estrela de FURA 55.22 was a monumental achievement for all of us, and we are excited that a new page in the story of this incredible gem and Mozambican rubies is about to be written with Sotheby’s,” declares Dev Shetty, Founder and Chief Executive Officer of FURA Gems.
_______________________________________________________________________

RUBY MINING IN MOZAMBIQUE

Ruby mining in Mozambique beholds a long, rich history, with the first significant discoveries of ruby deposits in the country dating back to the 1960s. However, it was not until the early 2000s that the mining of rubies in Mozambique gained real momentum, with the discovery of the Montepuez ruby deposit in the northern part of the country, where the Estrela de FURA rough crystal was originally found. The best of these rubies from Mozambique are characterized by an outstanding transparency and rich color, resulting in extraordinary overall quality. The Montepuez ruby deposit is one of the largest ruby deposits in the world, attracting significant interest from international mining companies.
_______________________________________________________________________

A NOTE TO EDITORS

*The current world record for a ruby sold at auction is held by the ‘Sunrise Ruby,’ a 25.59 carat Burmese stone, which was auctioned at Sotheby’s Geneva in May 2015 for $30.3 million. This price also established a new record for any ruby per carat ($1,185,451 per carat), at the time
_______________________________________________________________________

ABOUT FURA GEMS

FURA Gems Inc. is a young coloured gemstone mining and marketing company established in 2017. Headquartered in Dubai, United Arab Emirates, FURA has over 1,200 employees across continents. It is the first truly pioneering, creative and ethical enterprise to cover the entire spectrum of coloured gemstones.

FURA has three mining operating subsidiaries in Colombia, Mozambique, and Australia, that mine emeralds, rubies, and sapphires respectively. It is the fastest growing coloured gemstone mining company with the sole objective of ensuring stability and traceability of ethically mined coloured gemstones from rough to retail.

FURA Gems will allocate a portion of the proceeds of the sale towards setting up the Fura Training Academy to support the community where it operates in Mozambique.

The key objective is to promote access to qualified education and technical training to the local population in different work streams such as mining, carpentry, engineering, and agriculture to provide them with a sustainable income. www.furagems.com  

http://mrem.bernama.com/viewsm.php?idm=45839

VYTELLE CLOSES $20MM IN SERIES B FUNDING TO ACCELERATE GENETIC PROGRESS IN CATTLE

LENEXA, Kansas, April 5 (Bernama-GLOBE NEWSWIRE) -- Vytelle, a precision livestock company, has raised $20MM in Series B funding to accelerate genetic progress in cattle. With this new investment, Vytelle will continue to expand its global operations, while delivering the most accessible, reliable, and predictable reproductive technology available to customers today. 

The investment was led by Forage Capital Partners, a Calgary based growth equity fund that invests across the entire food and agriculture value chain. New investor, Mountain Group Partners, joins current investors, Grosvenor Food and Ag Tech, Open Prairie, Fulcrum Global Capital, Serra Ventures, and KC Rise to complete the round.   

Forage Capital Partner, Jim Taylor said, "Vytelle has proven their ability to scale and deliver consistent results for the benefit of cattle producers aiming to accelerate genetic progress around the world. We are impressed with Vytelle’s track record of growth and delivery and are excited about what the future will bring." 

Vytelle's integrated technology platform combines Vytelle ADVANCE, a breakthrough in vitro fertilization (IVF) technology, with Vytelle SENSE, an animal performance data capture system, and Vytelle INSIGHT, an artificial intelligence based genetic analytics engine.  

As the fastest growing advanced reproduction company, Vytelle is easily accessible to more than 50% of the US cow herd. Combining this footprint, with Vytelle’s curation of the world’s largest multibreed efficiency database, provides the infrastructure to impact bovine genetic progress rapidly. Progressive cattle producers can use the technology to multiply the impact of elite livestock productivity and profitability, sustainably delivering more protein with fewer inputs.  

"We are delighted to have secured this new investment; this is indicative of strong market interest in our products and services. Our mission is clear, and we are grateful for the support of our investors who join us on our journey to ensure meat and milk are viable food choices for future generations." said Kerryann Kocher, CEO of Vytelle.  
 
 
About Vytelle 

Vytelle is a precision livestock company reshaping how cattle producers worldwide optimize their herds. Through Vytelle’s integrated technology platform, generations of genetic gains can be made in just a few years. This allows producers to sustainably deliver more protein with fewer inputs, helping to ensure meat and milk are viable, competitive food choices for future generations. For more information about Vytelle, please visit www.vytelle.com. 

About Forage Capital Partners 

Forage Capital Partners is Canada’s most experienced team of Ag & Food investors, having managed over $500 million in commitments to the industry over the last 18 years. Forage Capital Ag & Food Business Solutions Fund works to provide its portfolio companies with the stability and flexibility they need to expand and adapt their business models during these challenging times. The fund will invest with creative business owners that are looking to capitalize on new and innovative opportunities. For more information on Forage Capital Partners, visit www.foragecapitalpartners.com. 

About Mountain Group Partners 

Mountain Group Partners is a Nashville-based venture capital firm that invests in early-stage companies predominantly in the life sciences, animal health and disruptive technology sectors.  The firm has invested in companies across animal health primarily in companion animals and technologies centered on improving protein production.  Mountain Group takes a hands-on approach to investing based upon its deep operational experience and currently has over $300 million in assets under management. For more information on Mountain Group Partners, visit www.mtngp.com.   

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HONG KONG SEVENS BACK AS RUGBY LOVERS CHEER IN HONG KONG STADIUM

KUALA LUMPUR, April 5 (Bernama) -- As Hong Kong returns to the international stage, Hong Kong Sevens was finally back in the Asian world city in full swing from March 31 to April 2.

According to Hong Kong Tourism Board in a statement, this year's tournament also made history to include the first women’s competitions alongside the men’s on the same days.

The tournament gathered some of the world’s best rugby players from 28 of the premier men’s and women’s Rugby Sevens teams at the iconic Hong Kong Stadium.

New Zealand took home the champions in both men’s and women’s tournaments against strong contenders including Fiji, Australia, Great Britain, South Africa and the host Hong Kong China this year.

Rugby lovers worldwide flocked to Hong Kong to watch one of the most celebrated international tournaments and experience the adrenaline-filled atmosphere at the stadium.

Enthusiastic fans attended the sports extravaganza in creative costumes, while enjoying the immersive experience with a tremendously hyped crowd in the uniquely Hong Kong party across three days.

-- BERNAMA

MINDVERSE'S MINDOS SET TO LAUNCH GLOBAL CLOSED BETA

KUALA LUMPUR, April 5 (Bernama) -- The Singapore-based generative artificial intelligence (AI) firm, Mindverse announced its creator tool for virtual AI beings for business sales and service, MindOS, will enter its Closed Beta stage on April 18.

The firm’s Closed Beta launch follows its signed partnership and planned rollout of customisable embodied chatbots for one of the world’s three largest e-commerce platforms, a global beauty and cosmetics brand, and several e-commerce small and medium enterprises (SMEs).

Mindverse Co-Founder and Chief Executive Officer, Fangbo Tao said the company is thrilled to offer the Closed Beta version of MindOS to trusted developers, journalists and partners.

“Our launch webinars will offer a deep dive on our core technology, an AMA with our founders, and a Closed Beta licence for attendees to get comfortable with MindOS before our Open Beta.

“We welcome feedback from Closed Beta participants and look forward to learning how users creatively deploy MindOS to solve productivity bottlenecks, boost conversions, and reduce the drudgery of mundane tasks,” added Tao in a statement.

MindOS generates AI beings with customisable appearances, personalities, knowledge domains and app integrations in which the tool can be deployed as a chatbot or IVA for service or sales, or as a process automation tool for workplace productivity and internal processes.

Supporting 30 languages, MindOS offers more than 1,000 pre-designed AI beings and accurately infers intent 97 per cent of the time.

MindOS AI beings can be trained with an unsorted training data set such as an onboarding manual, product documents or full websites, without the need to structure the data.

With real-time searching and zero-shot training, those AI beings can be onboarded rapidly to consistently provide high quality responses that are faithful to each brand’s voice.

The firm intends to launch Open Beta in the coming months, with an estimated launch in late May in advance of AWE USA.

-- BERNAMA

HUAWEI 2022 ANNUAL REPORT INDICATES STEADY OPERATIONS

KUALA LUMPUR, April 3 (Bernama) -- Huawei has released its 2022 Annual Report, reporting steady operations throughout 2022, having generated 642.3 billion Chinese Yuan in revenue and 35.6 billion Yuan in net profits. (100 Yuan = RM64.21)

Huawei continues to strengthen investment in R&D, with an annual expenditure of 161.5 billion Yuan in 2022, representing 25.1 per cent of the company's annual revenue and bringing its total R&D expenditure over the past 10 years to more than 977.3 billion Yuan.

"In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei's operations", said Eric Xu, Huawei's Rotating Chairman, at the company's annual report press conference, according to a statement.

"In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers. We also went to great lengths to grow the harvest – generating a steady stream of revenue to sustain our survival and lay the groundwork for future development.

“2023 will be crucial to Huawei's sustainable survival and development. While it's true that we have considerable pressure ahead of us, we have what it takes to come out the other end – with opportunities to grow, a resilient business portfolio, a unique competitive edge, the enduring trust of our customers and partners, and the courage to invest heavily in R&D.”

In 2022, revenue from Huawei's carrier, enterprise, and consumer businesses was 284 billion Yuan, 133.2 billion Yuan, and 214.5 billion Yuan, respectively.

Huawei is a strong proponent of growing together with its ecosystem partners, and believes that openness and collaboration lead to shared success.

The company has continued to open up its platform capabilities across its HarmonyOS, Kunpeng, Ascend, and cloud portfolio, focusing on improving developer experience as well as enabling and supporting its ecosystem partners on all fronts.

-- BERNAMA

Tezos Activates Mumbai Upgrade Enabling Over Million Transactions Per Second

KUALA LUMPUR, March 30 (Bernama) – Tezos, a pioneering blockchain for Proof-of-Stake consensus and on-chain governance, has activated Mumbai, its 13th core protocol upgrade.

According to Tezos in a statement, the Mumbai upgrade introduces Smart Rollups, a new Layer 2 scaling solution built directly into the protocol, which puts Tezos at the forefront of optimistic rollup technology.

Smart Rollups enables decentralised applications (dApps) to benefit from its dedicated hardware resources in order to process a high amount of transactions, while the integrity and security is guaranteed by the Tezos main chain, or Layer 1.

Due to this approach, the Tezos ecosystem will be able to surpass the milestone of one million transactions per second in 2023 without sacrificing decentralisation.

Smart Rollups comes with state-of-the-art technical features, namely fully decentralised and open interactive fraud proofs guarantee rollup security and integrity; and, a WebAssembly (WASM) execution environment allowing flexible development and deployment of a wide range of dApps.

Also included are advanced rollup features that simplify interactions; and new data availability solutions are possible, as Smart Rollups supports custom data channels for interfacing with data providers external to the Tezos blockchain.

Beyond rollups, Mumbai also introduces improvements to Tezos’ Layer 1 whereby Block time is reduced from 30 to 15 seconds, which is made possible with so-called Pipelined validation. This change reduces network latency and provides a smoother user experience overall.

The protocol upgrade also includes updates to previously existing features, such as Tickets, which become more flexible by allowing direct transfers between users.

The activation of Mumbai marks the culmination of a months-long collaboration between developers teams and the broader Tezos community.

Experts from Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda and Functori have contributed to this update, which unveils a new era of scalability and opens the door for exciting new applications to be deployed on Tezos blockchain.

-- BERNAMA