The government is discussing eligibility criteria for a 10,000-baht digital wallet stipend to stimulate the economy, with three proposed methods for disbursement being considered.

Government Discusses Eligibility Criteria for 10,000-Baht Stipend

The government is actively discussing the eligibility criteria for a 10,000-baht stipend through digital wallets. Prime Minister Srettha Thavisin states that discussions and opinions from various sectors are being considered to determine a clear direction and avoid confusion among the public. Deputy Minister of Finance Julapun Amornvivat assures that there is no cause for concern, as the policy aims to stimulate the overall economy rather than solely providing aid. It is proposed to distribute the stipend more comprehensively to 49 million individuals.

Revised Criteria for Digital Wallet Initiative

Deputy Prime Minister Somsak Thepsutin believes that revising the eligibility criteria by excluding wealthier individuals from the 10,000-baht digital wallet initiative will not affect the upcoming elections. This revision aligns with the feedback of the majority and ensures that public sentiment remains unaffected. Three proposed methods of disbursement are being considered, including exclusions and focused aid. One option is to exclude individuals earning over 25,000 baht or with savings over 100,000 baht, leaving 43 million eligible recipients. Another option is a tighter financial criterion of excluding those with an income over 50,000 baht or savings exceeding 500,000 baht, expanding eligibility to 49 million individuals. Lastly, a more targeted approach suggests providing aid solely to the impoverished segment of the population, benefitting 15-16 million individuals.

Various Proposals for Stipend Disbursement

The three proposed disbursement methods for the 10,000-baht digital wallet stipend encompass exclusions and focused aid. One proposal suggests excluding individuals with an income over 25,000 baht or savings over 100,000 baht, resulting in 43 million eligible recipients. Another option is to exclude those with an income over 50,000 baht or savings exceeding 500,000 baht, expanding eligibility to 49 million individuals. A more targeted approach is also considered, focusing the aid solely on the impoverished segment of the population, benefiting 15-16 million individuals. The required budget for each proposal varies accordingly.

Source: National News Bureau of Thailand.

Source : Government Contemplates Providing 10,000-Baht Digital Wallet Stipend

AGP Sustainable Real Assets Announces Strategic Investment from Stonepeak

Corporate News Media OutReach

Nov 3, 2023

AGP Sustainable Real Assets Announces Strategic Investment from Stonepeak

SINGAPORE & NEW YORK, USA – Media OutReach – 3 November 2023 – AGP Sustainable Real Assets (“AGP”), a Singapore-based global infrastructure and real assets developer and operator, today announced a strategic, preferred investment from Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets.

As a strategic capital partner, Stonepeak will bring valuable expertise to the AGP management team, and help to accelerate the growth of AGP’s portfolio across business verticals including energy transition and sustainable community infrastructure across housing, logistics, and data. The partnership also gives Stonepeak the opportunity to invest across new markets and sectors with a trusted local partner. Together, Stonepeak and AGP will work to further AGP’s mission to build real assets that enable a sustainable and net zero emissions future.

Ben Salmon, AGP Partner, commented: “This strategic investment represents a pivotal milestone in AGP’s journey. We are thrilled to be working with such a high caliber partner in Stonepeak and foresee this investment as a powerful catalyst for our forward trajectory. AGP is committed to reshaping the landscape of infrastructure development. Our aim is to seamlessly integrate energy and community infrastructure, developing innovative sustainable solutions that meet society’s evolving needs.”

Hajir Naghdy, Senior Managing Director at Stonepeak added: “We look forward to partnering closely with AGP’s management team, who has over 20 years of experience, on the development, construction, and operation of sustainable infrastructure. AGP’s global energy transition portfolio, logistics and community housing platform in India, and data center joint venture with Stonepeak’s existing portfolio company, Digital Edge, are directly aligned with Stonepeak’s key verticals. The opportunity to invest in sustainable asset creation and the exposure across multiple geographies make this partnership a strong fit for Stonepeak’s Asia infrastructure strategy.”

Elmahdi Tahri, AGP Partner and CIO of AMPYR Energy Global, AGP’s global renewable energy platform, added “In Stonepeak we have found a unique, like-minded partner able to support our energy transition mission across our entire footprint, particularly in Europe where AMPYR is shaping AMPYR Solar Europe into a leading solar Independent Power Producer (IPP) in Germany, the Netherlands and the United Kingdom. We are excited to take AMPYR’s decarbonisation contribution in Europe to new heights alongside Stonepeak”.

The investment is expected to close in Q4 2023 subject to satisfaction of customary closing conditions.

Sidley Austin LLP is serving as legal counsel to Stonepeak, and Clifford Chance LLP is serving as legal counsel to AGP.

Hashtag: #AGP

The issuer is solely responsible for the content of this announcement.

About AGP Sustainable Real Assets

Headquartered in Singapore, AGP invests in, develops and operates sustainable real assets across three key investment themes: renewable energy, infrastructure and communities, and natural capital. AGP’s mandate is to promote real assets that generate positive impact for people and the environment, by focusing on ‘Sustainable Real Assets’: transformative infrastructure assets that make positive contributions to satisfying the UN SDGs. AGP is presently developing, constructing, delivered and/or operating globally an aggregate portfolio of over 12GW of renewable energy assets, 5msqft of modern logistics warehousing, 310MW of datacenter capacity, and 20msqft of community housing. For more information, please visit www.agpgroup.com and www.ampyrenergy.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author's own and do not reflect the view of Siam News Network.

SEPHORA TIES UP WITH RELIANCE RETAIL VENTURES LIMITED TO TRANSFORM INDIA'S PRESTIGE BEAUTY RETAIL SEGMENT

CISION PR Newswire

Nov 3, 2023

MUMBAI, India, Nov. 3, 2023 /PRNewswire/ — Sephora, the world’s leading omni-channel prestige beauty retailer, announced a partnership with Reliance Beauty & Personal Care Limited, a wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL) to advance their shared ambition to develop and define the future of prestige beauty retail in India. The partnership gives RRVL exclusive rights to build and enhance Sephora‘s presence in India across channels.

Since its first foray into India in 2012, Sephora has leveraged its unique brand and product curation capabilities and strong point of view on beauty and experiential retail to cater to the beauty needs of India’s vast consumer base.

"We are tremendously excited to partner with the largest retail group in India to step-change our business. Rising affluence, increasing urbanisation and the proliferation of social media have driven greater awareness of self-care and beauty, unlocking major opportunities for prestige beauty. It is an opportune time for us to invest in expanding our presence, and bring new, exciting, and exclusive brands to delight our growing community of beauty enthusiasts," Alia Gogi, Asia President, Sephora. "We are equally grateful to Arvind for their partnership over the past eight years to get us positioned for the next stage of growth."

"We are excited and proud to partner with Sephora, a global leader in beauty. The burgeoning Indian beauty market is being propelled by a new generation of customers with a strong desire to express their individuality, rising aesthetic refinement and a growing number of women in the young workforce of India. The Indian consumerism journey is at a tipping point, providing the perfect tail wind to this partnership. Importantly this partnership will help us straddle across the value chain in beauty and personal care segment," said V Subramaniam, Director, Reliance Retail Ventures Limited.

As part of the partnership with Sephora, Reliance Beauty & Personal Care Limited will take over the current India operations of Sephora‘s 26 stores across 13 cities from Arvind Fashions Limited, as it sets in motion a plan to expand Sephora‘s presence in the country. During this period of transition, the stores and website will be operating business as usual. Reliance Beauty & Personal Care Limited operates the beauty business for RRVL and this partnership will boost its portfolio of offerings.

The Indian beauty and personal care market pegged at USD 17 bn and set to grow at a 11% CAGR, is still believed to be in its infancy; positioning India as one of the largest untapped consumer markets globally. Not only is RRVL the largest retailer in India and one of the fastest growing globally, it also uniquely combines deep consumer insights with unparalleled customer access, both offline and digitally.

ABOUT SEPHORA:

Sephora is the world’s leading global prestige beauty retail brand. With 46,000 passionate employees operating in 35 markets, Sephora connects customers and beauty brands within the world’s most trusted and dynamic beauty community. We serve a highly engaged community of hundreds of millions of beauty followers across our global omnichannel network of more than 2700 stores and iconic flagships, and our e-commerce and digital platforms, offering personalized and immersive seamless experiences across every touchpoint. With our curation of close to 300 brands and our own label, Sephora Collection, we offer the most unique and diverse range of prestige beauty products, tailored to our customers’ needs from fragrance to make-up, haircare, skincare and beyond, as we constantly reimagine the world of prestige beauty.

Since our inception in 1969 in Limoges, France, and as part of the LVMH Group since 1997, we have been disrupting the prestige beauty retail industry. Today, we continue to break with convention to drive our mission to expand the way the world sees beauty.

ABOUT RELIANCE RETAIL VENTURES LIMITED (RRVL):

RRVL, through its subsidiaries and affiliates, operates an integrated omni-channel network of over 18,650 stores and digital commerce platforms across Grocery, Consumer Electronics, Fashion & Lifestyle and Pharma consumption baskets and has partnered with over 3 million merchants through its New Commerce initiative. Reliance Retail Limited, a subsidiary of RRVL, is the only Indian retailer in the global Top 100 and amongst the fastest growing retailers globally as per Deloitte’s Global Powers of Retailing 2023.

RRVL reported a consolidated turnover of ₹ 260,364 crore ($ 31.7 billion) and net profit of ₹ 9,181 crore ($ 1.1 billion) for the year ended March 31, 2023.

Source : SEPHORA TIES UP WITH RELIANCE RETAIL VENTURES LIMITED TO TRANSFORM INDIA'S PRESTIGE BEAUTY RETAIL SEGMENT

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

WeBank's distributed tech brand "Openhive" is unveiled in a recent BCG report

CISION PR Newswire

Nov 3, 2023

SHENZHEN, China, Nov. 3, 2023 /PRNewswire/ — WeBank, the world’s leading digital bank, has been featured in the Digital Lending Can Turn the Dial on Financial Access for MSMEs report, recently published by the ASEAN Business Advisory Council (ASEAN-BAC) and Boston Consulting Group (BCG). The report recognizes WeBank’s performance of delivering Openhive-based distributed digital banking services to ensure a secure, fast and exceptional digital customer experience for MSMEs (micro, small and medium-sized enterprises).

The report reveals how digital banking customers have direct access to manage their banking needs, usually accessible through mobile phones, instead of relying on a teller in traditional bank branches. WeBank’s online and unsecured MSEMs loan service "Weiyedai" is a typical case.

An efficient core banking system is the cornerstone of a well-functioned digital bank. Behind the branchless service, WeBank’s distributed core banking system is working consistently. Starting from its inception, WeBank has adopted fully distributed technologies to build the first distributed core banking system in China. Because of its similarity to the natural beehive, WeBank calls this set of financial-grade distributed technologies Openhive.

Openhive

While serving hundreds of millions of individual customers and MSMEs, Openhive enables WeBank to be flexible and scalable to support over 1 billion daily peak transactions. Its record time from new product ideation to live launch is 10 days. The Openhive-based core banking system also leads to affordable equipment and maintenance costs, no branch operation costs and low labor costs. Thus, the bank is enabled to provide 24×7 seamless services (over 99.999% product availability) to a rapidly growing customer base. Its annual IT operation and maintenance cost per account is only 0.3 US dollars/year, roughly one-tenth of the industry average. With the cost-effective banking system, WeBank is able to navigate the innovative path of sustainable inclusive finance.

Besides the successful case of WeBank, the Openhive solution has been adopted by top digital banks in Southeast Asia. Openhive enables them to build distributed core banking systems that could support sustainable inclusive finance to their longtail unbanked and underbanked market. By unleashing the power of collaboration with leading-edge technologies, Openhive is enabling innovators to achieve more.

About Openhive

Openhive is a digital banking solution powered by WeBank, that utilizes a series of distributed technologies to serve inclusive finance. It enables leading digital banks to provide sustainable inclusive finance to the market with competitive advantages, such as high performance, high agility, high availability, high security, high modularity and high efficiency.

About WeBank

Launched in 2014, WeBank Co., Ltd. ("WeBank") is the first privately-owned bank and digital bank in China. WeBank provides more convenient financial services to micro-, small- and medium-sized enterprises (MSMEs) and the general public, and continuously improves the quality of services in response to customers’ specific needs. As one of the top 100 banks in China, WeBank now ranks 284 in Top 1000 World Banks by The Banker. By June 2023, WeBank has served over 370 million individual customers and over 4.1 million MSMEs.

WeBank focuses on innovation and technology. As the first commercial bank to obtain the national high-tech enterprise certification in China, WeBank has maintained its proportion of technical personnel above 50% since its establishment, while its research and development expenses of accounted for around 9% of its revenue. WeBank is now at the top of the industry in core technologies such as artificial intelligence (AI), blockchain, cloud computing and big data.

Source : WeBank's distributed tech brand "Openhive" is unveiled in a recent BCG report

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Hong Kong ICT Awards 2023 – Smart Mobility Award Winners Unveiled

CISION PR Newswire

Nov 3, 2023

Ms. Anna Lin, Chief Executive of GS1 Hong Kong (white blazer in the middle) and the HKICT Awards - Smart Mobility Award winners.

Smart Power Supply, Indoor Navigation, GBA Cargo Track-and-Trace Solution Celebrated

HONG KONG, Nov. 3, 2023 /PRNewswire/ — Steered by the Office of the Government Chief Information Officer and co-organised by GS1 Hong Kong, the Hong Kong ICT Awards 2023 – Smart Mobility Award Presentation Ceremony was held today. The award has three categories: Smart Tourism, Smart Logistics, and Smart Transport. They are selected by evaluation and one-by-one interviews by the Assessment and Judging panels. Gold, Silver, and Bronze Award and certificates of merit are awarded to the contestants based on their performance.

Ms. Anna Lin, Chief Executive of GS1 Hong Kong (white blazer in the middle) and the HKICT Awards – Smart Mobility Award winners.

This year, TriTerra Technology Limited won the "Grand Award of the Smart Mobility Award" and the "Smart Mobility (Smart Tourism) Gold Award" with its "Kaihon1000 Smart Power Station". Size of a handbag, the portable power supply has 7 power sockets to support the needs of different electrical appliances (such as mini refrigerators, cooking stoves, etc), suited for occasions like camping, extended outdoor work (such as filming), and during power outages at home. In addition to the solar charging function that helps prolong usage, it is equipped with IP55 water- and dust-proof features and users can remotely connect, operate and monitor operation using a mobile phone. The judging panel agreed that it is a practical and environmentally friendly solution, with immense potential to expand into the global markets.

Other cutting-edge winning entries include the first mobility solution that monitor the journey of Greater Bay Area cargo transshipment, characterised by its blockchain and emerging mobile technologies use; also the smart mobility app that utilises spatial data to provide indoor and outdoor navigation for the visually impaired and the needed, offering a barrier-free navigation experience with uninterrupted voice guidance. The list of Smart Mobility awardees is shown below. Please visit here for details of the winning entries: https://www.gs1hk.org/sites/default/files/2023-10/SMA_2023.pdf

The award winners will have the opportunity to represent Hong Kong to compete in the "13th Guangdong-HK-Macau IoT Competition" with a few dozens of contestants from mainland China. Hong Kong representatives have achieved great results in this competition before, for example 2 entries won the "Best IoT Application" and the "Best IoT Innovation" last year, indicating that local innovative technologies and solutions can shine bright in and out of Hong Kong.

Anna Lin, Chief Executive of GS1 Hong Kong, congratulated the winners and is pleased to see the robust I&T development and adoption of creative applications in the city. "This year, we applaud beyond the public and private sector winners, but also celebrate the creative mind of individual who have fostered a culture of innovation in smart mobility. The winning entries are tuned in to today’s environment, some by incorporating low-carbon, sustainability elements, while some tap into the GBA growth opportunities, addressing the current issues and trends. GS1 Hong Kong will continue to work closely with the Government and the industry partners to drive digital innovation and support Hong Kong’s development into a world-class smart city."

Download Photos: https://gs1hongkong.box.com/s/9q7jkqxkz3fzfbhmmrny1rnuj3dztkdn

Hong Kong ICT Awards 2023 – Smart Mobility Award winners list (In alphabetic order by company / organisation name):

FP Markets Launches New Look Client Portal with an Array of Enhanced Features

CISION PR Newswire

Nov 3, 2023

SYDNEY, Nov. 3, 2023 /PRNewswire/ — FP Markets , a leading broker in online trading for Forex and CFDs, has announced the launch of its redesigned Client Portal. This transformative upgrade features a fresh, intuitive platform, enhanced functionality, as well as a selection of new and exciting features designed to help traders and investors operate and trade more efficiently.

FP Markets Launches New Look Client Portal with an Array of Enhanced Features

The Client Portal’s new design is a significant leap forward, offering an improved user experience and flexibility that provides traders and investors greater control. The newly developed Client Portal boasts the following features:

A modern, user-friendly interface; A sleek design that ensures a seamless experience for all clients; Enhanced navigation; Streamlined features that permit access to a wide array of tools directly from the Client Portal’s Dashboard, including Accounts, Funding Operations, Platform Selection and Social Trading. Real-time notifications enable FP Markets’ clients to remain on top of their account operations and never miss a critical update. Instant access to real-time economic indicators allow users to stay abreast of any market-moving risk events.

Kim Reilly, FP Markets Project Manager, enthused about the launch of the revamped Client Portal: ‘I’m very excited to share our latest milestone – the launch of the upgraded client portal. We have created a new user experience for our clients that truly puts them first! The updates are not just a makeover – it’s a transformation. We can’t wait for our clients to enjoy the journey of seamless navigation through account management, to funding to trading tools’.

Established in 2005, FP Markets is a Multi-Regulated Brand providing clients with over 10,000 tradable instruments across key asset classes and offers aggregate pricing across several top-tier liquidity providers. Additionally, FP Markets deliver Consistently Tight Spreads, Lightning Execution, Unmatched 24/7 Multilingual Customer Support, and various Account Types to suit all trading strategies and styles.

Notes to Editors

About FP Markets:

FP Markets is a Multi-Regulated Forex and CFDs Broker with over 18 years of industry experience. The company offers highly competitive interbank Forex spreads starting from 0.0 pips. Traders can choose from the leading powerful online trading platforms, including FP Markets’ Mobile App , MetaTrader 4, MetaTrader 5, WebTrader, cTrader, and Iress. The company’s outstanding 24/7 multilingual customer service has been recognised by Investment Trends and awarded ‘The Highest Overall Client Satisfaction Award’ over five consecutive years. FP Markets has been awarded the ‘Best Global Forex Value Broker’ for four consecutive years (2019, 2020, 2021, 2022) at the Global Forex Awards. FP Markets has been awarded the ‘Best Forex Broker – Europe’ and the ‘Best Forex Partners Programme – Asia’ at the Global Forex Awards 2022. FP Markets has been awarded ‘Best Trade Execution’ at the Ultimate Fintech Awards 2022. FP Markets crowned ‘Best CFD Broker in Africa’ at FAME Awards 2023.

For more information on FP Markets’ comprehensive range of products and services, visit https://www.fpmarkets.com/.

Source : FP Markets Launches New Look Client Portal with an Array of Enhanced Features

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

The 2023 Symposium on Global Maritime Cooperation and Ocean Governance to be Held in Sanya

CISION PR Newswire

Nov 3, 2023

SANYA, China, Nov. 3, 2023 /PRNewswire/ — The 2023 Symposium on Global Maritime Cooperation and Ocean Governance (GMCOG) will take place in Sanya, Hainan, China from 8-9 November 2023. The event is co-hosted by the Huayang Center for Maritime Cooperation and Ocean Governance and the China Oceanic Development Foundation (CODF), and the National Institute for South China Sea Studies, China (NISCSS).

Inaugurated in November 2020, the symposium aims to offer a unique platform for thought-provoking dialogues among the thinkers of various backgrounds from all over the world and promote academic research and exchange on maritime cooperation and ocean governance. It also seeks to raise the voice of the South China Sea coastal states in global governance and cooperation on ocean, offer South China Sea experience and solution to global ocean governance, restore confidence in global ocean governance and cooperation and align itself with the Sustainable Development Goal 14 of the United Nations (Conserve and sustainably use the oceans, seas and marine resources for sustainable development). The GMCOG has made its special contribution to sustainable development of oceans and seas throughout the years.

The 2-day event is comprised of seven sessions, including Challenges to Global Ocean Governance and Maritime Cooperation among Great Powers, Mutual Confidence Building in the South China Sea from the Perspective of Global Security Initiative, Promoting Marine Spatial Planning to Boost the Blue Economy, International Law Based Order in the South China Sea, Goal 14 of UN 2030 Agenda and Sustainable Development of Marine Fisheries, BBNJ Agreement and Global Ocean Governance, and Global Climate Change and Polar Research.

The GMCOG this year is expected to bring together participants from over 20 countries and regions, including eminent scholars from influential academic institutes, diplomats, officials from international organizations and government agencies in and beyond the region. Confirmed keynote speakers include Wang Yi, Member of the Political Bureau of the CPC Central Committee, and Minister of Foreign Affairs, China; Sun Weidong, Vice Minister of Foreign Affairs, China; Wang Hong, Vice Minister of Natural Resources and Administrator of State Oceanic Administration, China; Peter Thomson, UNSG’s Special Envoy for the Ocean; Liu Zhenmin, Former Under Secretary-General of the United Nations and Stephen A. Orlins, President, National committee on U.S.-China Relations, the U.S..

Source : The 2023 Symposium on Global Maritime Cooperation and Ocean Governance to be Held in Sanya

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Emeren to Release Third Quarter 2023 Financial Results on Nov 21, 2023

CISION PR Newswire

Nov 3, 2023

STAMFORD, Conn., Nov. 3, 2023 /PRNewswire/ — Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced that it will report its unaudited financial results for the third quarter ended September 30, 2023 after the U.S. stock market close on Tuesday, Nov 21, 2023. The Company will host a conference call to discuss the financial results at 5:00 p.m. U.S. Eastern Time on Tuesday, Nov 21, 2023.

What: Emeren Group Ltd Third Quarter (ended September 30, 2023) Earnings Call

When: 5:00 p.m. U.S. Eastern Time on Tuesday, Nov 21, 2023

Webcast: https://edge.media-server.com/mmc/p/tm2gvazf

Participant Online Registration: https://register.vevent.com/register/BI6944c83bc2164d9997e83efdf0f3e6ae

Please register in advance to join the conference call using the link provided below and dial in 10 minutes before the call is scheduled to begin. Conference call access information will be provided upon registration.

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Emeren Group Ltd’s website at https://ir.emeren.com/.

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL) is a leading global solar project developer, owner, and operator with a pipeline of projects and IPP assets totaling over 3 GW, as well as a storage pipeline of over 6 GWh across Europe, North America, and Asia. The Company focuses on solar power project development, construction management and project financing services with local professional teams across multiple countries. For more information, go to www.emeren.com.

Source : Emeren to Release Third Quarter 2023 Financial Results on Nov 21, 2023

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