Month: September 2022

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DBS Accelerates Market Integrity Efforts Leveraging Nasdaq Surveillance Technology

Cloud-based surveillance technology from Nasdaq to underpin DBS’ market abuse detection efforts

NEW YORK, Sept. 29, 2022 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) and DBS, a leading financial services group in Asia and Southeast Asia’s largest bank, announced today that DBS will leverage Nasdaq Trade Surveillance technology to advance its surveillance and market integrity efforts. Nasdaq’s Trade Surveillance solutions will enable DBS to enhance its abilities to analyze comprehensive market abuse surveillance scenarios and patterns and detect trading anomalies across equities and derivatives markets as well as OTC FX markets.

The technology will provide DBS with a consolidated, flexible, and user-friendly view to manage and monitor market conduct across multiple trading venues and asset classes, while enabling DBS’ trade surveillance team to detect, investigate, and document a wide array of market abuse behaviors through alerts that can be tailored to subsets of the market and asset classes. Used across institutional segments, the technology will enhance DBS’ ability to detect and respond swiftly to potential risks of market abuse and help analysts optimize their time spent. The SaaS-deployed technology solution widely used by regulators, exchanges and banks worldwide can effectively detect patterns of market abuse behaviors with over 200 tailored alerts.

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored in our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure,” said Ko Chin Siong, Chief Operating Officer for DBS Vickers, the brokerage arm of DBS. “Nasdaq’s solutions add to the suite of cutting-edge technologies DBS deploys to enhance our surveillance capabilities at all levels, and will enable us to better protect our clients’ interest.”

“DBS will leverage Nasdaq’s cutting-edge robust technology as they seek to advance its surveillance capabilities to protect its clients from market abuse,” said Valerie Bannert-Thurner, Senior Vice President of Anti-Financial Crime Technology, Nasdaq. “They join a growing community of leading financial institutions, and retail brokerage firms specifically, across the region and beyond that leverage Nasdaq’s surveillance technology trusted by regulators to help track suspicious activities across markets and asset classes, and ultimately safeguard investors worldwide. We look forward to partner with DBS as they grow their business and evolve its market integrity efforts.”

Nasdaq’s end-to-end market technology powers more than 2,300 companies in 50 countries, spanning the world’s financial industry, including capital markets infrastructure operators, market participants, banks, and regulators.

About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.

About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 14 consecutive years from 2009 to 2022.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

Media Contacts

Nasdaq
Yan-yan Tong
yan-yan.tong@nasdaq.com
+1 240 721 80 66

DBS
Tim Mou Hui
Vice President, Group Strategic Marketing & Communications, DBS
mouhuitim@dbs.com

NDAQG

 

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EV Technology Group Announces Completion of Acquisition of Portfolio of Iconic Automotive Brands of Ford, Maserati and Ferrari Coach Builders

The acquisition of Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co. further solidifies EV Technology Group’s mission of electrifying iconic brands

TORONTO, Sept. 29, 2022 (GLOBE NEWSWIRE) — EV Technology Group Ltd. (the “Company” or “EV Technology Group”) (NEO: EVTG, OTCQB: EVTGF, DE: B96A) announces that it has completed its acquisition of 1000310362 Ontario Inc. (the “Target”), previously announced by the Company on September 16, 2022 (the “Acquisition”). The Target holds a portfolio of intellectual property including iconic brands Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co.

EV Technology Group has a strategy of acquiring iconic, well loved automotive brands and then electrifying them for the future of motoring. This strategic Acquisition expands the portfolio of brands under EV Technology Group’s control and represents major potential to expand the future landscape of electric motoring. The brands in today’s Acquisition represent the epitome of world-class design and heritage, giving EV Technology Group the ability to leverage on existing brand value, and offer unique luxury EVs, with existing charm and heritage, to customers across the globe. The brands in the Acquisition include:

Marazzi, Fantuzzi, Brewster & Co and Officine Stampaggi Industriali - joining the EV Technology Group portfolio of strategic brands

Marazzi, Fantuzzi, Brewster & Co and Officine Stampaggi Industriali – joining the EV Technology Group portfolio of strategic brands

Fantuzzi
Fantuzzi was founded in 1939 by Medardo Fantuzzi, an automotive engineer, in Modena Italy. Medardo and his brother Gino Fantuzzi were involved in building the Maserati A6GCS, Maserati 350S and Maserati 200S during the 1940’s and 1950’s. Medardo went on to work for Ferrari until 1966, where he became known for building bespoke low-production performance cars including the Ferrari Tipo 156 “sharknose” Fantuzzi, additionally working for De Tomaso, Scuderia Serenissima, AMS and Techno, emblematic designs that are still cherished today.

Marazzi
Marazzi was founded by Carlo Marazzi and his two sons, Serafino and Mario in 1967, in Milan Italy. Marazzi first completed the Lamborghini 400GT 2+2 series, followed by a series of 125 Lamborghini Islero, and the first few of the Lamborghini Jarama. Then came the beautiful Alfa Romeo 33 Stradale.

Officine Stampaggi Industriali
Officine Stampaggi Industriali (OSI) was founded in 1960, by Luigi Segre, former president of Carrozzeria Ghia, and Arrigo Olivetti from Fergat. OSI was based in Turin Italy and was a short-lived company that produced custom built vehicles based on Alfa Romeo, Fiat and Ford. Although production was short, OSI made a lasting impression in the automotive industry, renowned for the conception of the 1960 Innocenti 950 Spider and the Ford 20M TS Coupé, few of which are still around today.

Brewster & Co
Brewster & Company dates back to 1810, when James Brewster quickly formed a reputation as America’s premier carriage maker. Brewster then went on to work on automobiles, with the first being ahead of the times with an electric car based on a gas-powered Delaunay-Belleville chassis in 1905. The Company was well-recognised in America as a supreme coachbuilder for a variety of vehicles, with an on-off relationship with Rolls-Royce. Brewster & Co paved its way in the bespoke vehicle industry, winning numerous awards.

In connection with the Acquisition, EV Technology Group issued a total of 1,950,000 common shares of the Company (the “Payment Shares”) to Mr. Mark Stubbs, the shareholder of the Target, and to PrivCap Group LLC in exchange for all of the issued and outstanding shares of the Target.

Wouter Witvoet, CEO of EV Technology Group said, “The completion of this Acquisition brings four incredible brands into our strategic portfolio. The legendary brands of Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co will sit alongside the MOKE as we work to develop the future of the electric vehicle industry – defined by well-loved brands.”

EV Technology Group
EV Technology Group was founded in 2021 with the vision to electrify iconic brands – and the mission to redefine the joy of motoring for the electric age. By acquiring iconic brands and bringing beloved motoring experiences to the electric age, EV Technology Group is driving the EV revolution forward. Backed by a diversified team of passionate entrepreneurs, engineers and driving enthusiasts, EV Technology Group creates value for its customers by owning the total customer experience — acquiring and partnering with iconic brands with significant growth potential in unique markets, and controlling end-to-end capabilities. To learn more visit: https://evtgroup.com/

Media
Rachael D’Amore
rachael@talkshopmedia.com
+1519-564-9850

Investor Relations
Dave Gentry
dave@redchip.com
+14074914498

EV Technology Group
Wouter Witvoet
CEO and Chairman of the Board
wouter@evtgroup.com

Forward-Looking Information

This news release contains forward-looking statements including, but not limited to: the closing of the Transaction and EV Technology Group operations, expectations, and future actions. Often, but not always, these Forward-looking Statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements, including those factors discussed under “Risk Factors” in the filing statement of the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except where required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c33dcdc4-04ca-47f7-b21a-268eb8bd6032

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ADB Plans $14 Billion to Ease Food Crisis, Promote Food Security in Asia, Pacific

The Asian Development Bank (ADB) on Sep 27 announced plans to provide at least US$14 billion over 2022–2025 in a comprehensive program of support to ease a worsening food crisis in Asia and the Pacific, and improve long-term food security by strengthening food systems against the impacts of climate change and biodiversity loss.
The assistance expands ADB’s already significant support for food security in the region, where nearly 1.1 billion people lack healthy diets due to poverty and food prices which have soared to record highs this year. The funding will be channeled through existing and new projects in sectors including farm inputs, food production and distribution, social protection, irrigation, and water resources management, as well as projects leveraging nature-based solutions. ADB will continue to invest in other activities which contribute to food security such as energy transition, transport, access to rural finance, environmental management, health, and education.
“This is a timely and urgently needed response to a crisis that is leaving too many poor families in Asia hungry and in deeper poverty,” said ADB President Masatsugu Asakawa, in remarks at ADB’s 55th Annual Meeting. “We need to act now, before the impacts of climate change worsen and further erode the region’s hard-won development gains. Our support will be targeted, integrated, and impactful to help vulnerable people, particularly vulnerable women, in the near-term, while bolstering food systems to reduce the impact of emerging and future food security risks.”
The Russian invasion of Ukraine has disrupted supplies of food staples and fertilizer, straining a global food system already weakened by climate change impacts, pandemic-related supply shocks, and unsustainable farming practices.
Asia and the Pacific is vulnerable to food shocks, as some of its countries depend on imported staples and fertilizer. Even before the invasion of Ukraine, nutritious food was unaffordable for significant portions of the population in many ADB low-income member countries.
As well as supporting vulnerable people, ADB’s food security assistance will promote open trade, improve smallholder farm production and livelihoods, ease shortages of fertilizer and promote its efficient use or organic alternatives, support investments in food production and distribution, enhance nutrition, and boost climate resilience through integrated and nature-based solutions. A key focus will be to protect the region’s natural environment from climate change impacts and biodiversity loss, which have degraded soils, freshwater, and marine ecosystems.
“An important part of our long-term approach is to safeguard natural resources and support farmers and agribusinesses which produce and distribute much of the region’s food, and to promote open trade to ensure it reaches consumers efficiently,” said Mr. Asakawa.
Assistance under the programme will start this year and continue through 2025. It will be drawn from across ADB’s sovereign and private sector operations, and seek to leverage an additional US$5 billion in private sector cofinancing for food security.
ADB will apply lessons learned from supporting its members during the global food crisis in 2007–2008 and through the implementation of its food security operational plan the following year. Since then, ADB has provided US$2 billion in annual investments in food security. In 2018, ADB identified food security as a key operational priority.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Source: Lao News Agency

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Laos, Vietnam step up people-to-people exchanges

Laos and Vietnam exchanged experience in people friendship activities at a conference in Vietnam’s central province of Quang Tri on September 28.
The event took place within the framework of the fifth Vietnam-Laos People Friendship Festival held the same day in Quang Tri which borders Laos’ Savannakhet and Salavan provinces.
In his opening remarks, President of the Vietnam-Laos Friendship Association Tran Van Tuy noted that people-to-people exchanges have contributed to enhancing the great friendship, special solidarity and comprehensive cooperation between the two countries.
The participants reviewed activities organised by Unions of Friendship Organisations and the Vietnam-Laos Friendship Association, and raised proposals to better the work.
President of the Laos-Vietnam Friendship Association Boviengkham Vongdala appreciated the valuable support of the Vietnamese Party, State and people to Laos during the neighbouring country’s past struggle for national liberation as well as the present cause of national construction and development.
Boviengkham Vongdala expressed his hope that Vietnamese and Laos friendship organisations will continue their close coordination and carry out more diverse activities.

Source: Lao News Agency

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Attapeu municipality flooded

A large number of people had been affected by Typhoon Noru and many houses have been inundated in Sanxay district in Attapeu province.
Attapheu Province was affected by the passage of typhoon Noru on September 28, 2022 triggering heavy rains and strong winds and caused flooding in Attapeu province.
The weather bureau of Laos warned on Wednesday that there would be more heavy rains and flooding in other areas.
At least 2,000 people had taken refuge in shelters and had moved away from the swollen rivers.

Source: Lao News Agency

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Propose Hin Nam No as a new World Heritage site under preparation of document

Laos is preparing to submit an application for Hin Nam No (Karst) National Protected Area in Bualapha district, Khammuan province as a UNESCO World Heritage status by 2022.
In June 2024, the UNESCO World Heritage will announce the results of the submission of the application document and declaration as a World Heritage along the border with the World Heritage National Park of the Republic of Vietnam.
Meeting of the National Committee for World Heritage to listen to reports on the progress of various works was held in Vientiane on Sept 27.
The Minister of Information, Culture and Tourism, Ms.SuansavanViyaket said that the meeting is preparing the application documents to propose Hin Nam No National Park as a World Heritage Site, progress of the preparation of application documents and future work plans to submit the application documents to the World Heritage Center and cooperation with the Republic of Vietnam,which has agreed to cooperate through many frameworks, both bilaterally and through international cooperation, such as the agreement on bilateral cooperation between the Government of the Lao PDR and the Government of Vietnam 2021-2025, we have a plan to cooperate on art, culture and tourism between the Ministry of Information, Culture and Tourism of the Lao PDR and the Ministry of Culture, Sports and Tourism of Vietnam 2021-2025.“Currently, the related sectors and departments in cooperation with Vietnam have finished 50 percent of the work for preparing documents to propose Hin Nam No National Protected Area as a trans-boundary World Heritage Site, together with Vietnam’s Phong Nha-Ke Bang National Park,”

Source: Lao News Agency