VANCOUVER, BC, Dec. 5, 2023 /PRNewswire/ — Seaspan Corporation (Seaspan), the world-leading owner and operator of containerships, continues quality growth through the 10,800 CEU dual-fuel LNG, with ammonia and methanol ready, Pure Car and Truck Carrier (PCTC) newbuild program in partnership with a market-leading car carrier, Hyundai Glovis (Glovis).

As one of the world largest car carriers and part of the Hyundai Motor Group, Glovis can leverage Seaspan’s proven competencies of consistent operational excellence, innovative customer partnership, and solid financial strength. The vessels will be under long-term time charter upon delivery and, as the largest PCTCs under development to date, will bring unparalleled quality, scale, and flexibility to Glovis.

With a proven track record of working with major shipping lines and shipbuilders to develop a customer-inspired alternative fuel vessel portfolio, Seaspan negotiated the purchase from a China State Shipbuilding Corporation shipyard – Shanghai Waigaoqiao Shipbuilding. These state-of-the-art dual-fuel LNG PCTC vessels will be methanol and ammonia-ready, underscoring Seaspan’s leadership in transition pathways, innovative ship design, and newbuild execution, in addition to Seaspan’s existing 70-vessel newbuild program which includes 25 dual-fuel LNG containerships.

"This deal signifies our customers’ trust and value of Seaspan’s commitment and capability executing alternative fuel initiatives," emphasized Bing Chen, President and CEO of Seaspan. "By incorporating our extensive experience in dual-fuel LNG containerships, while working proactively with all stakeholders during this decarbonization journey, Seaspan is uniquely poised to contribute to the standards and progress of sustainable shipping."

"We’re extremely proud of partnering with Glovis, the market leader in the PCTC sector, and leverage our integrated platform to facilitate their strategic success," added Kun Li, Seaspan’s Chief Commercial Officer. "As jurisdictions seek to transition away from conventional fueled vehicles to electric vehicles, we see this as an opportunity to not only meet the current demand for sustainable shipping solutions but also support the global initiative for cleaner transportation alternatives."

Forward-Looking Statements

This release contains "forward-looking statements" (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "will", "believe", "intend", "plan", "expect", "estimate", "project", "forecast", and similar expressions are forward-looking statements. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events, are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Atlas Corp.’s (Atlas) control and are difficult to predict. These risks and uncertainties include but are not limited to factors detailed from time to time in our periodic reports and filings with the Securities and Exchange Commission, including Atlas’ Annual Report on Form 20-F for the year ended December 31, 2022. Atlas undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this release. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual events could vary materially from Atlas’ expectations. We make no prediction or statement about the performance of any of our securities.

About Atlas Corp.

Atlas is a leading global asset management company, differentiated by its position as a best-in-class owner and operator with a focus on disciplined capital deployment to create sustainable shareholder value. Atlas targets long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Atlas’ wholly owned subsidiaries include APR Energy and Seaspan Corporation. For more information visit atlascorporation.com.

About Seaspan Corporation

Seaspan is the largest global containership lessor, primarily focused on long-term, fixed-rate leases with the world’s largest container shipping liners. As of September 30, 2023, Seaspan’s operating fleet consisted of 142 vessels with a total capacity of 1,410,800 TEU, and an additional 47 vessels under construction, delivering through to December 2024, increasing total fleet capacity to 1,927,800 TEU, on a fully delivered basis. For more information, visit seaspancorp.com.

For media inquiries, please contact: Cailey Murphy, Head of Corporate Communications, communications@seaspancorp.com

PCTC Signing

Source : Seaspan Corporation enters new market segment with strategic order of new dual-fuel LNG Pure Car and Truck Carrier vessels

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

DUBAI, UAE, Dec. 5, 2023 /PRNewswire/ — Fortescue Executive Chairman and Founder, Dr Andrew Forrest AO, has joined leading scientists from around the world in signing an open letter to world leaders attending COP28 detailing lethal humidity’s growing threat to humanity.  

The letter from members of the Lethal Humidity Global Council includes the signatures of scientists from India, North America, Australia, the UK, Singapore and Belgium. 

It calls on world leaders to "move beyond all policies that inhibit the development and deployment of renewable technology in order to achieve the defossilisation of our economy". 

It implores them to back the Positive Power Plan and endorse four key policy shifts that are urgently required to avoid the catastrophes that will come with a continued rise in lethal Humidity. 

Visit the Positive Power Plan website here

For interviews with Dr Forrest at COP28, email [email protected] or phone +61 412 754 310

Media contact:  
Fortescue                             
E: [email protected]
M: 1800 134 442    

About Fortescue 

Fortescue is focused on becoming the number 1 integrated green energy, metals and technology company, recognised for its culture, innovation and industry-leading development of infrastructure, mining assets and green energy initiatives.
It operates with two divisions – Metals and Energy. 
Fortescue  is  committed  to  producing  green  hydrogen,  containing  zero  carbon,  from  renewable electricity.
Green hydrogen is a zero-carbon fuel that, when used, produces primarily water. It is a practical and implementable  solution  that  can  help  revolutionise  the  way  we  power  our  planet:  helping  to decarbonise heavy industry and create jobs globally.
Fortescue is leading the green industrial revolution, building a global portfolio of renewable green hydrogen and green ammonia projects, while also leading the global effort to help decarbonise hard-to-abate sectors. This includes developing and acquiring the technology and energy supply to help decarbonise the Australian iron ore operations of one of the world’s largest producers of iron ore, Fortescue Metals, by 2030 (Scope 1 and 2 terrestrial emissions).
fortescue.com 

Lethal humidity and heat are already upon us.  
Our actions today will determine how many millions of people die or are forced to migrate. 

World Leaders,

We, the undersigned, come from the world’s leading research and academic institutions, and consist of a diverse range of climate scientists, public health experts, policy makers and industrialists. 

There is scientific consensus that rising humidity and heat pose a serious and growing threat to humanity. At temperatures as low as 30˚C, under conditions of high humidity, the human body struggles to cool down by sweating. Death can result.  

As temperatures increase, so does the potential for episodes of high temperature and high humidity beyond what humans and many mammals – including livestock, an important source of protein globally – can endure for more than a few hours.  

These impacts will not be equitable. Society’s most vulnerable, such as the elderly, young children and the poor, will suffer the most. At population scale, this is called Lethal Humidity and its impacts will be felt globally, especially in tropical and sub-tropical regions. 

Some of the most populous regions on Earth are at risk, including parts of India, China, the United States, Indonesia, Pakistan, Bangladesh, Mexico, Northern Australia and many other countries across Africa, Asia, South America and Europe  

Rising humidity is also driving some of the most violent weather the world has seen and the threat will only grow as the world gets hotter. We must prepare for abrupt environmental and social change. 

Positive Power

World Leaders, we must move beyond all policies that inhibit the development and deployment of renewable technology in order to achieve the defossilisation of our economy.  

At least four key policy shifts are urgently required:    

Real Zero emissions – decarbonisation without offsets; new oil and gas projects severely restricted; strategic investment in and rapid approval of green energy projects Removal of barriers to green industry, including fossil fuel subsidies, before 2030  Matching of incentives and disincentives to risk with carbon pricing  Economic stimulants to encourage green growth and transformation 

The direct impacts of lethal humidity with heat on human mortality will be widespread, as will the indirect effects associated with loss of labour, migration and geopolitical destabilisation.  As leaders, we must immediately address both – but never one at the expense of the other. 

We can still create a world fit for our children and future generations if we act now.

We call on you to endorse the Positive Power Plan.

Date: 3 December 2023

Signatories

Dr Sneha Malhotra, Chief Technology Officer, Office of Principal Scientific Advisor,  Government of India 

Professor Steven Sherwood, Atmospheric Sciences, Climate Change Research Centre,  University of New South Wales Sydney, Australia 

Professor Li Zheng, Executive Vice President, Institute of Climate Change, Tsinghua  University 

Professor Somnath Baidya Roy, Head, Centre for Atmospheric Sciences, Indian Institute  of Technology Delhi 

Professor Peter Huybers, Earth and Planetary Sciences, Harvard University   

Dr Guang Zhang, Research Meteorologist, Scripps Institution of Oceanography, University of California San Diego, USA 

Professor Paromita Chakraborty, Atmospheric pollution, Centre for Research in  Environment, Sustainability Advocacy and Climate Change, Institute of Science and  Technology 

Professor Deqing Zhu, School of Minerals Processing and Bioengineering, Central South University 

Dr Jonathan R. Buzan, Climate Physicist, Climate and Environmental Physics and  Oeschger Centre for Climate Change Research, University of Bern, Switzerland 

Professor Sagnik Dey, Institute Chair, Centre for Atmospheric Sciences. Indian Institute of Technology Delhi 

Dr Chloe Brimicombe, Climate Scientist and Extreme Heat Researcher, Karl-Franzens- Universität Graz & University of Reading  

Dr Vidhya Venugopal, Professor & Country Director (NIHR GRC NCD-EC), Department of Environmental Health Engineering, Faculty of Public Health, Sri Ramachandra Institute and Higher Education, Chennai, INDIA 

Emeritus Professor Trevor McDougall AC FRS FAA, University of New South Wales  Sydney Winner Prime Minister’s Prize for Science 2022 

Professor Ambarish Dutta, Epidemiology Indian Institute of Public Health, Bhubaneswar  Public Health Foundation of India 

Professor Nerilie Abram, Climate Science, The Australian National University, Australia 

Professor Arnab Dutta, Interdisciplinary Programme in Climate Studies, IIT Bombay 

Dr James Smith MRCGP FFPH, Sustainability Lead, Cambridge Public Health  Interdisciplinary Research Centre, University of Cambridge 

Professor Ollie Jay, Heat and Health, Director of the Heat and Health Research Incubator,  Faculty of Medicine and Health, University of Sydney, Australia 

Dr Fahad Saeed, Heat and humidity effects; Regional Lead: South Asia and the Middle East, Climate Analytics 

Dr Amy Booth, Clinician and Researcher, Climate Change and Global Health, Nuffield  Department of Primary Care Health Sciences, University of Oxford  

Professor Sandeep Sukumaran, Centre for Atmospheric Sciences, Yardi School of AI  Indian Institute of Technology Delhi 

Professor Tim Lenton, Climate Change/Earth System Science, Global Systems Institute,  University of Exeter, UK 

Professor Kurian Joseph, Director, Centre for Climate Change and Disaster Management, Centre for Environmental Studies, Department of Civil Engineering, Anna University 

Dr Benjamin Jones, Oxford Centre for Global Health Research, Nuffield Department of  Medicine | University of Oxford 

Dr Andrew Forrest AO, Minderoo Foundation, Tattarang and Fortescue; Honorary  Research Fellow, University of Western Australia [1]

Professor Ken Smith, Department of Medicine, University of Cambridge 

Dr Emma Ramsay, Humid heat in urban settlements, Nanyang Technological University 
Singapore 

Professor Stephen Luby, Department of Medicine, Stanford University 

Scientia Professor Matthew England, FFA Centre for Marine Science & Innovation, 
University of New South Wales Australia 

Dr Brian O’Callaghan, Smith School of Enterprise and the Environment, University of 
Oxford; United Nations Economic Commission for Africa; Acadia Infrastructure Capital [2]

Professor Srinivasan Keshav, Computer Science, Department of Computer Science and Technology, University of Cambridge 

Professor Callum Roberts, Marine Conservation, Centre for Ecology and Conservation,  University of Exeter, UK 

Associate Professor Sarah Perkins-Kirkpatrick, Climate scientist, UNSW Canberra,  Australia 

Professor Katrin Meissner, Climate scientist; Director, Climate Change Research Centre, University of New South Wales, Australia 

Dr Tony Worby, Chief Scientist, Minderoo Foundation [3]

Dr Shanta Barley, Chief Climate Scientist, Fortescue; Adjunct Lecturer, University of  
Western Australia [4]

Dr Shanta Barley, Chief Climate Scientist, Fortescue; Adjunct Lecturer, University of 
Western Australia

Ms Kylie Walker, CEO Australian Academy of Technological Sciences & Engineering 

Professor Anjal Prakash, Bharti Institute of Public Policy, Indian School of Business 

Professor Michael Ellwood, Research School of Earth Sciences, Australian National Uni- versity 

Dr Laurence Wainwright, Sustainability, Enterprise & Environment, University of Oxford 

Emeritus Professor Sarah Dunlop, Minderoo Foundation and The University of Western  Australia 

Professor Marilyn Raphael, Geography, Institute of the Environment and Sustainability,  University of California, Los Angeles, USA 

Professor Jacob G. Foster, Sociology, UCLA; External Professor, Santa Fe Institute 

Professor Alastair Iles, Sustainability Transitions Department of Environmental Science,  Policy & Management University of California, Berkeley 

Dr Shannon A. Bonke, Research Fellow of King’s College Cambridge and Department of  Chemistry, University of Cambridge 

Professor Douglas McCauley, Director, Benioff Ocean Science Laboratory, University of  California Santa Barbara 

Dr John Hunter, Climate and sea level scientist, University of Tasmania 

Dr Larry Marshall, Director, Fortescue; Chair, American Chamber of Commerce in  Australia; Governing Council of Australian National University 

Dr Vishal Dixit, Interdisciplinary Programme in Climate Studies, IIT Bombay, India 

Professor Kamiar Mohaddes, Judge Business School & Kings College, University of  Cambridge 

Professor Anne-Louise Ponsonby, Head, Neuroepidemiology Research Group, The  Florey Institute of Neuroscience and Mental Health 

Professor Stephen F. Ackley, Department of Earth and Planetary Sciences, University of Texas San Antonio, Fellow of the American Geophysical Union 

Bodhi Patil, Youth Ambassador, Dept. Environment & Sustainability, University of British  Columbia 

Professor Jean-Louis Tison, DSTE-IGEOS-Glaciology laboratory – Université Libre de  Bruxelles, Belgium 

Professor Ian Allison, D.Sc., FAA, University of Tasmania, Australia 

Dr Maria Luiza Pedrotti, National Centre for Scientific Research, Sorbonne 

[1] This entity invests in green energy and green hydrogen 

[2] This entity invests in reliable clean energy and decarbonization projects in North America 

[3] This entity is a philanthropic organisation  

[4] This entity invests in green energy and green hydrogen 

Source : Lethal Humidity Global Council's letter to world leaders

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

In just 18 months the green ammonia capable ship has been converted to run in dual-fuel mode as it moves away from fossil fuels. Fortescue calls on all ports to license green ammonia loading and fuel around the world, facilitating pollution free shipping.   Imagery can be accessed via this link here. 

DUBAI, UAE, Dec. 5, 2023 /PRNewswire/ — The Fortescue Green Pioneer has sailed from its base in Singapore to Dubai for COP28 as a symbol to the world of the technology solutions and regulatory changes needed to decarbonise shipping.

Fortescue Executive Chairman and Founder Andrew Forrest AO stated, "At the moment the regulatory landscape does not allow for ammonia ships to operate.

"Now it is up to the world’s ports to insist that their logistics do not harbour those who seek to hide from their responsibility to turn away from pollution.

"Now that green ammonia is emerging as a bulk marine fuel, it is now the time of the great ports of the world to become capable of pollution free shipping. All administrations of good character will not use inaction and excuses to stand in the road of progress to decarbonise one of the world’s dirtiest industries.

"This is seriously limiting the progress of the decarbonisation of shipping. I look to the leadership of the world’s ports to make clear that running the world’s global shipping on dirty bunker fuel has to stop, as we have a pollution free alternative."

Together with leading maritime engineers and innovators, Fortescue has spent the past 18 months developing the systems, processes and technology needed to safely run the Green Pioneer as a green ammonia dual-fuel ship.

One of the most significant and fastest marine innovation platforms, the vessel is today sitting proudly in the waters of the Dubai Harbour Marina.

Fortescue successfully retrofitted a four-stroke engine to run on a blend of ammonia and diesel at its Perth testing facility earlier this year, marking a major milestone in its pursuit of a global shipping industry no longer reliant on fossil fuels.

Fortescue has since installed an entire gas fuel delivery system and converted two of the four engines on the proof-of-concept Green Pioneer in Singapore to enable the vessel to run in dual-fuel mode on ammonia and diesel. Fortescue is now continuing to pursue its broader plan for a world-first fuel transfer and marine vessel with approval to use ammonia as a fuel.

Fortescue has also pioneered and implemented new, ammonia-specific safety and fuel handling courses in conjunction with an accredited Singapore learning institution to ensure all seafarers can be inducted and operate in a safe and controlled manner with ammonia fuel on-board. This training can now be extended to the wider industry to enable the safe and wider roll-out of ammonia as a marine fuel.

Due to the lack of appropriate regulations that Dr Forrest has called on world ports to change, the vessel will not be carrying ammonia or demonstrating the use of ammonia as a fuel while in Dubai. However, when the vessel returns to Singapore which has made itself ammonia capable, the Company will complete commissioning to enable it to perform a world-first ammonia transfer and reach final flag and class approval to enable it to operate ammonia dual-fuel engines on the water and use ammonia as a fuel.

Green ammonia is produced using renewable energy, so a green ammonia-based alternative to diesel would be considered a game-changer for reducing the carbon footprint of the world’s shipping industry, which would be the sixth-largest polluter in the world if it were a country.

While the technological advances are encouraging, Fortescue is using the gathering of the international community at COP28 to call on all enablers – including governments, port authorities, regulators, training institutions and development banks – to move at pace by ensuring the appropriate settings are in place for the use of ammonia as an alternative shipping fuel.

Media contact:
Fortescue                                                           
E: [email protected]
M: 1800 134 442                                                       

About Fortescue

Fortescue is focused on becoming the number 1 integrated green energy, metals and technology company, recognised for its culture, innovation and industry-leading development of infrastructure, mining assets and green energy initiatives.

It operates with two divisions – Metals and Energy.

Fortescue is committed to producing green hydrogen, containing zero carbon, from renewable electricity.

Green hydrogen is a zero-carbon fuel that, when used, produces primarily water. It is a practical and implementable solution that can help revolutionise the way we power our planet: helping to decarbonise heavy industry and create jobs globally.

Fortescue is leading the green industrial revolution, building a global portfolio of renewable green hydrogen and green ammonia projects, while also leading the global effort to help decarbonise hard-to-abate sectors. This includes developing and acquiring the technology and energy supply to help decarbonise the Australian iron ore operations of one of the world’s largest producers of iron ore, Fortescue Metals, by 2030 (Scope 1 and 2 terrestrial emissions).

fortescue.com

Source : Fortescue's Green Pioneer arrives in Dubai for COP28

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

Yotta launches Shakti Cloud: India’s Largest Supercomputer of 16 Exaflops AI computing power with NVIDIA H100 Tensor Core GPUs to drive mass-scale AI innovation in India

MUMBAI, India, Dec. 5, 2023 /PRNewswire/ — Yotta Data Services today announced a collaboration with NVIDIA to deliver cutting-edge GPU computing infrastructure and platforms for its Shakti Cloud platform. The collaboration will advance the development of AI solutions in India by bringing state-of-the-art AI capabilities within reach of numerous organizations, businesses, AI researchers, and a multitude of startups across the country. With this offering, Yotta customers will be able to train large language models (LLMs) and other AI workloads serving the growing needs of Indian, Asian, and broader global markets.

Yotta has already placed a large order for NVIDIA H100 Tensor Core GPUs, a powerful GPU for AI and HPC workloads, and plans to go operational with 4096 GPUs by January 2024 and 16,384 GPUs by June 2024. With complete support from NVIDIA and a shared vision to develop India’s sovereign AI landscape, Yotta also plans to massively scale up its GPU stable to 32,768 by the end of 2025. This will directly address the huge demand for high-performance GPUs by research labs, enterprises, and startups for HPC and AI workloads.

With this collaboration, Yotta becomes the first NVIDIA Partner Network cloud partner (NCP) in India and joins the global NCP list as an Elite Partner.

Further, Yotta is deploying an NVIDIA-powered reference architecture with NVIDIA InfiniBand networking that will allow GPU clusters to deliver great performance at scale for large AI training and inferencing workloads, as well as HPC workloads.

Yotta’s Shakti Cloud AI platform will include various PaaS services from day one, including foundational AI models and applications that will help Indian enterprises create powerful AI tools and products.

Yotta will deploy the first cluster of 16,384 GPUs at NM1, Yotta’s highly acclaimed and Asia’s largest Uptime Tier-IV data center, located in Navi Mumbai. Next, Yotta will deploy a similar-sized cluster at D1, Yotta’s newest and largest hyperscale data center in Greater Noida, near Delhi.

This collaboration comes at a moment of phenomenal growth in India’s AI adoption efforts, with the country becoming a hub for research, online gaming, and digital content creation. AI adoption in India is expected to grow at a compound annual growth rate of more than 20% to reach US$14 billion by 2030. The Indian gaming industry is similarly expected to furiously grow to reach US$5 billion by 2025. All these industries rely heavily on GPU computing to meet expected customer demands.

Darshan Hiranandani, Co-founder & Chairman of Yotta, and Sunil Gupta, Co-founder & CEO of Yotta, share the excitement. "Yotta is proud to join forces with NVIDIA, a global leader in GPU technology, in India to launch our Shakti Cloud platform to usher in a new era of computing innovation in line with the vision of the Hon’ble Prime Minister for a digital Bharat. We’re excited to embark on this journey, leveraging our scalable cloud and data center infrastructure and NVIDIA’s cutting-edge GPU technology to empower Indian businesses, governments, startups, and researchers with unparalleled GPU-as-a-Service solutions to catalyze advancements in AI, machine learning, gaming, content creation, and scientific research. Yotta aims to accelerate innovation and transform industries across India, delivering the power of NVIDIA GPUs as a service to drive growth, efficiency, and excellence. This collaborative work represents a significant milestone in our journey, and we are excited about the endless possibilities it holds for our customers and India as a whole. We are also thankful for the continuing support of the Ministry of Information Technology and the governments of Maharashtra and Uttar Pradesh for making this a reality."

Commenting on this development, Jay Puri, executive vice president of Worldwide Field Operations at NVIDIA, said, "India has emerged as a vibrant hub for technological innovation and digital transformation. Our collaboration with Yotta will help open up access to the specialized infrastructure that makes AI possible at scale and bring GPU capabilities to customers in India, accelerating advancements in AI and fostering innovation across industries."

Key Highlights of the Collaboration:

Accelerating AI compute in India: With NVIDIA GPU hardware, Yotta will help Indian enterprises significantly accelerate their ability to build powerful AI tools and services for the global market. Democratizing GPU power: Yotta will empower Indian businesses of all sizes to access GPU resources on demand, transforming the way they operate and innovate. Boosting innovation: Through GPUaaS, Yotta aims to catalyze breakthroughs in AI, gaming, scientific research, data analytics, and more, positioning India as a global technology leader. Robust, world-class infrastructure & technology: Yotta’s world-class data centers and cloud services will provide a secure and scalable environment for businesses to use NVIDIA GPUs. Market disruption & expansion: With NVIDIA technology, Yotta will disrupt the traditional ways enterprises have accessed GPU computing with the availability of on demand and scalable GPU resources, opening access up to new customer segments and sectors.

Yotta aims to democratize access to GPU resources, fostering innovation and competitiveness across various sectors. Yotta’s Shakti Cloud will deliver GPUs and various associated AI and PaaS services in a highly cost-effective manner on a per hour usage model, with options for long-term reservations.

Yotta’s commitment to technological excellence and innovation aligns perfectly with its mission to accelerate digital transformation across India.

To read more on Yotta’s Shakti Cloud GPU-as-a-Service offerings, visit  https://yotta.com/shakticloud

About Yotta

Yotta Data Services is a new-age Digital Transformation service provider offering Cloud, GPUs, data center hosting, Connectivity, Cybersecurity services, cyber Workspaces, managed applications, and a wide range of Managed IT services. Yotta operates its cloud regions at its two hyperscale data center parks in Panvel (Navi Mumbai) and Greater Noida (Delhi). Yotta’s cloud is Meity empaneled (VCC & GCC). Yotta is working to launch its open source based feature rich hyperscale cloud "Yntraa" by the end of 2023.

Yotta’s first data center – Yotta NM1 data centre in Panvel, part of a mammoth 600 MW DC campus, has been acknowledged as APAC’s best Data Center by Datacloud Global Awards in 2021 and 2023 and is the world’s 2nd largest Uptime Institute Certified Tier IV facility. Yotta Greater Noida DC Park launched in Oct 2022, is a mammoth 180 MW campus, the largest one in the whole of North India. Yotta’s numerous accolades and certifications include RBI’s cyber security framework and localization framework, ISO27017 for protection of personal information in public cloud, ISO 27701 for Privacy Information management (PIMS), PCI-DSS, and SOC2-Type 2, SOC3 among others. For more information, visit www.yotta.com

About NVIDIA Corporation

NVIDIA Corporation (NASDAQ: NVDA) is a global leader in GPU (Graphics Processing Unit) technology. The company designs and manufactures advanced GPUs that power a wide range of applications, including gaming, artificial intelligence, data center, and automotive computing. NVIDIA’s innovative technology is driving advancements in industries such as deep learning, autonomous vehicles, and supercomputing. Founded in 1993 and headquartered in Santa Clara, California, NVIDIA continues to revolutionize computing, providing solutions that enable people and businesses to achieve unprecedented levels of performance. For more information, visit www.nvidia.com

Source : Yotta Data Services Collaborates with NVIDIA to Catalyze India's AI Transformation

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

KANAZAWA, Japan, Dec. 5, 2023 /PRNewswire/ — The ASEAN+3 Macroeconomic Research Office (AMRO) today unveiled its inaugural ASEAN+3 Financial Stability Report (AFSR 2023) during the 2nd ASEAN+3 Economic Cooperation and Financial Stability Forum. The AFSR 2023—AMRO’s second flagship report—is the ASEAN+3 region’s pioneering financial stability report. It delves into conjunctural market developments and potential risks in the ASEAN+3 region and provides an in-depth and thematic analysis of the impact of high debt on financial stability.

ASEAN+3 financial systems have demonstrated resilience on multiple trials over the past years, fortified by strong macroeconomic fundamentals, enhanced regulatory regimes and external buffers since the Asian Financial Crisis. Nonetheless, the ASEAN+3 economies are facing heightened uncertainties and volatilities in a rapidly changing and increasingly complex financial environment. Spillovers and contagion risks also intensify as global and regional integration deepens.

"Given the swiftly evolving global financial landscape and its substantial reverberations on the region, the significance of financial surveillance in ASEAN+3 cannot be overstated," said AMRO Chief Economist Hoe Ee Khor.

Among the risks faced by the region, the potential resurgence of inflation is perhaps the one risk that has raised the greatest concern because of its implication for even higher and more prolonged interest rates and their impact on the economies and financial systems. Financial market volatility may spike as it adjusts to the new normal of a "higher-for-longer" interest rate environment with receding liquidity. Lingering concerns involve potential spillovers to regional economies during stress episodes, due to the existing vulnerabilities in the US banking sector, where key banking sector stocks have lost more than 10 percent of their value since the US regional banking stress in March 2023. Despite ample US dollar liquidity globally, US dollar stress may emerge if investor confidence falters amid tighter global monetary policy and heightened market volatility. 

"Furthermore, accelerated cross-border capital flows, driven by greater financial market integration and digitalization, can rapidly transmit shocks, creating new challenges for policymakers," added Dr. Khor.

Thematic studies in AFSR 2023 provide an in-depth analysis of financial stability risks from elevated debt levels in ASEAN+3, which reached 300 percent of the region’s GDP at the end of 2022. The low-for-long interest rate environment that existed before the recent global rise in inflation facilitated substantial debt accumulation by businesses, households, and governments. Monetary and fiscal stimulus measures implemented during the pandemic further contributed to the rise in debt-to-GDP ratios. The increased debt stocks and rising debt servicing costs in the current high interest rate environment have increased risks to financial stability, especially as pandemic support measures have been or are still being phased out.

A correction in house prices and escalating debt burdens due to higher interest rates or a recession may heighten the risk of defaults, particularly for highly leveraged households. Companies with weakened balance sheets may encounter challenges in refinancing and meeting interest expenses. Governments with elevated debt-to-GDP may face increased refinancing costs and rollover risk on maturing debt. The resilience of some banks and non-bank financial intermediaries, acting as debt intermediaries and creditors, may be tested, potentially exacerbating vulnerabilities in the financial market.

In response to rising non-financial private debt and systemic risks, policymakers can deploy macroprudential tools to curb risks from high household and corporate debt and excessive property developer leverage. For corporate debt, more responsible corporate lending practices can be encouraged, including by fostering better governance framework and mitigating credit risks of small-medium enterprises with credit guarantee schemes. To mitigate financial stability risks associated with high public debt, strategies should include medium-term fiscal consolidation, maintaining a sound debt structure, and diversifying the investor base.

"In addressing the risks posed by the higher debt levels amid tighter monetary conditions, authorities need to strengthen their defenses through a well-balanced policy mix across monetary, fiscal, and macroprudential policies. Close cooperation across jurisdictions is also essential," emphasized Dr. Khor. 

More details can be found in AMRO’s latest flagship report, the ASEAN+3 Financial Stability Report 2023.

About AMRO

The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization established to contribute toward securing macroeconomic and financial resilience and stability of the ASEAN+3 region, comprising 10 members of the Association of Southeast Asian Nations (ASEAN) and China; Hong Kong, China; Japan; and Korea. AMRO’s mandate is to conduct macroeconomic surveillance, support regional financial arrangements, and provide technical assistance to the members. In addition, AMRO also serves as a regional knowledge hub and provides support to ASEAN+3 financial cooperation.

Visit our website and follow us on LinkedIn for more updates.

Source : Navigating High Debt in Low Visibility in ASEAN+3

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

DUBAI, UAE, Dec. 5, 2023 /PRNewswire/ — Today at COP28 in Dubai, Mission Efficiency announced it has secured an initial series of pledges in support of its Call to Action for doubling annual energy efficiency improvement and tripling annual energy efficiency investment.

Among the pledges, Metrus Energy indicated it will increase direct investment in energy efficiency by doubling its investment commitment to "America is All In" from USD 200 million to USD 400 million.

The Business Council for Sustainable Energy committed to advising policymakers in the U.S. on the market, technology and policy issues related to accelerating the scale up of energy efficiency. Climargy pledged to de-risk investments and mobilize investments in energy service companies (ESCOs) and energy efficiency projects.

During COP28, the European Union and the United Arab Emirates’s COP28 Presidency will launch the Global Pledge on Renewables and Energy Efficiency with the COP28 Presidency, aiming to triple installed renewables capacity and double energy efficiency measures by 2030.

To support this effort, Mission Efficiency launched its own Call to Action, whereby countries, companies and organizations could express their support for establishing a global target of more than double the rate of energy efficiency improvement annually. Those joining the Call to Action also affirmed that tripling investment to more than USD 1.5 trillion per year from 2026 to 2030 is required to meet this target.

Beyond simply advocating for these targets, the Mission Efficiency Call to Action encouraged those joining to submit concrete pledges or UN Energy Compacts for how they will contribute to energy efficiency progress. The first series of pledges were unveiled during a roundtable on the sidelines of COP28 that was hosted by The Business Council for Sustainable Energy, Edison Electric Institute, Mission Efficiency, and Sustainable Energy for All.

Mission Efficiency partners will be discussing these pledges and COP28’s impact on energy efficiency during a press conference on December 9 from 15:30-16:00 GST in Press Conference Room 2, Zone B6 – Building 77 in the Blue Zone at COP28.

Supporting quotes

"Momentum is clearly growing for world leaders to increase ambition and adopt a target for more than doubling energy efficiency progress and tripling energy efficiency investment. But achieving this requires a full ecosystem of energy efficiency supporters to take bold action. Mission Efficiency has created a platform for industry, government, financial institutions, and others to pledge their financial and technical support for energy efficiency, which is critical to accelerating the energy transition and curbing global warming."  Brian Dean, Director of Energy Transition, Sustainable Energy for All

"As world leaders negotiate the result of the global stock take, industry experts agree that jumpstarting investment in energy efficiency is paramount to meeting the Paris Agreement goals. The business community has an essential role to play in directing investment and deploying energy-saving technologies. BCSE is proud to sign the Mission Efficiency Call to Action and submit its pledge to work with governments to adopt energy efficiency policies." Lisa Jacobson, President, Business Council for Sustainable Energy

About Sustainable Energy for All

Sustainable Energy for All (SEforALL) is an international organization that works in partnership with the United Nations and leaders in government, the private sector, financial institutions, civil society and philanthropies to drive faster action towards the achievement of Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, sustainable and modern energy for all by 2030 – in line with the Paris Agreement on climate. We work to ensure a clean energy transition that leaves no one behind and brings new opportunities for everyone to fulfil their potential.

Find out more at www.seforall.org

Source : Mission Efficiency unveils Call to Action and pledges for driving progress on energy efficiency

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

LONDON, Dec. 5, 2023 /PRNewswire/ — IFS, the global cloud enterprise software company, today announced that it has made two senior appointments with Max Roberts and Belinda Finch joining the company’s executive leadership team as Chief Operating Officer and Chief Information Officer respectively. The appointments underpin the company’s consistent performance trajectory as well as its longer-term plans for growth. 

Max Roberts joins IFS from Stripe, a financial infrastructure platform for businesses, where he was CEO of the UK business and latterly led the EMEA organization through significant growth. His career spans over 25 years in the technology sector and specifically the enterprise software space where he held a wide variety of leadership positions at Oracle, Salesforce, and Stripe. He has also been a non-executive director of UK Finance.

As he steps into his new COO role, Roberts will work with the executive and wider leadership teams to develop IFS’s longer-term strategic products and services portfolios and develop the company’s strategic alliances and partnerships. Priorities will be aligned to continuing to drive innovation that not only meets customers’ needs, but also anticipates and responds to market demand, and delivers sustained revenue and margin growth for IFS. Roberts will take responsibility for IFS’s Industry, Service Management and Enterprise Asset Management business units, and support IFS global sales and customer success teams in customer engagements.

Belinda Finch joins IFS from mobile giant Three, where, as CIO, she led Three’s digital transformation program and worked closely with their product teams to drive system developments that would enhance customer experience. Finch’s previous experience includes senior leadership roles at Centrica and Vodafone as well as at Accenture and KPMG.

Belinda’s leadership values have been recognized with accolades such as Women in Tech Excellence Awards 2022, CIO of the Year Finalist and MVNO’s World Congress Woman of the Year Awards 2023.

In her role as IFS CIO, Finch will oversee the continuation of the company’s digital transformation journey and work with the executive leadership team to maximize the adoption of AI across the entire organization, driving productivity and effectiveness as the company strives to deliver an outstanding customer experience.

IFS CEO Darren Roos commented: "I am delighted to welcome Max and Belinda to IFS. They are joining at a very exciting time, and I am confident that their energy and perspectives will have a very positive impact as we enter our next phase of growth." Roos continued: "They both bring strong expertise and a proven track record that is well aligned to our space and, in Belinda’s case, to one of our core industries." He concluded: "I am proud that the brand awareness IFS has achieved over the last few years and our consistent performance are attracting such incredible talent. I know that their combined experience and vision will be hugely instrumental as we accelerate our growth journey."  

The company also shared that Michael Ouissi and Sal Laher will move to IGT1, the Holding Group for IFS, as COO and CDIO respectively, and take more central roles in ensuring long-term value creation from recent and future M&A activities.

About IFS:

IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers-at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.

IFS Press Contacts:

MEA& APJ: Adam Gillbe
Corporate Communications
Email: [email protected]
Phone: +44 7775 114 856
USA: Mairi Morgan
Corporate Communications
Email: [email protected]
Phone: +1 520 396 2155

The following files are available for download:

https://news.cision.com/ifs/i/ifs-appoints-max-roberts-as-chief-operating-officer-and-belinda-finch-as-chief-information-officer,c3246010

IFS Appoints Max Roberts as Chief Operating Officer and Belinda Finch as Chief Information Officer

Source : IFS Appoints Max Roberts as Chief Operating Officer and Belinda Finch as Chief Information Officer

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network