SINGAPORE, Nov. 11, 2024 /PRNewswire/ — Tranglo, a leading global cross-border payment hub, today announced its expansion within the Gulf Cooperation Council (GCC) by launching services in three new markets: Oman, Qatar, and Bahrain.

This strategic move aims to meet the growing demand for efficient remittance services across the GCC region, one of the largest remittance markets globally.

By expanding into Oman, Qatar, and Bahrain, Tranglo’s innovative payment solutions are now accessible to over 31 million migrant workers, primarily from South and Southeast Asia, many of whom depend on remittances to support their families.

In 2022, the total remittances to LMICs were estimated at USD 626 billion, with more than USD 120 billion coming from the six GCC countries alone. Remittances from the GCC are projected to grow further in 2024, driven by the positive outlook for oil prices, and the extended social protection for migrant workers.

With the addition of these new markets, Tranglo solidifies its commitment to transforming remittance and cross-border transactions across the region. Tranglo entered the UAE market in 2023, enabling individuals to make direct transfers to bank accounts.

Commenting on the latest milestone, Tranglo Group CEO, Jacky Lee, said: “The entry into Oman, Qatar, and Bahrain, is evidence of our dedication to building a more inclusive and connected world.

“The GCC region has a unique remittance landscape, with millions of workers relying on safe, cost-effective cross-border payments to support loved ones back home. Our expansion in these countries will streamline financial access and strengthen our commitment to providing solutions that make sending money simpler and more affordable.”

At launch, individuals can send funds using the cash pick-up method, with transactions available for near-instant collection in Omani Rial (OMR), Qatari Riyal (QAR), and Bahraini Dinar (BHD). The cash pick-up option is now also available in the UAE.

Tranglo helps financial institutions and businesses pay through Tranglo Connect, its proprietary cross-border payments solution. Tranglo seamlessly integrates payout and partner services, unifying the end-to-end process with direct API access. With Tranglo Connect, companies can reliably and securely make payments to over 100 countries.

About Tranglo

Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittances and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, and London. Our global network spans 100+ countries, 250+ mobile operators, 1,500+ banks/wallets and 60 cash pickup services with thousands of touchpoints. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We offer enhanced cross-border payout services with even broader coverage through Ripple Payments. For more information, visit www.tranglo.com or connect via LinkedIn, Twitter or Facebook.

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TORONTO, Nov. 10, 2024 /CNW/ – Berger Montague (Canada) PC, a Toronto-based law firm that focuses on representing investors in cross-border shareholder disputes, has launched an investigation into CAE Inc. (TSX: “CAE” and FRA: “CE9”)

CAE is a Canadian incorporation technology company that develops software-based simulation training and critical operations support solutions, which is based in Saint-Laurent, Quebec.  It is subject to the Quebec Securities Act.

On November 14, 2023, CAE announced that it made a decision to retire certain “legacy contracts” in its Defense and Security Segment.  CAE negligently omitted to disclose to the market what it anticipated the financial impact of retiring these legacy contracts and it omitted to disclose the size of the impairment of goodwill/writeoff.

On May 21, 2024, however, CAE announced that, as a result of a “re-baselining of its Defense business, Defense impairments, [and] accelerated risk recognition on Legacy Contracts,” the Company had “recorded a $568.0 million non-cash impairment of Defense goodwill,” “$90.3 million in unfavorable Defense contract profit adjustments as a result of accelerated risk recognition on the Legacy Contracts,” and a “$35.7 million impairment of related technology and other non-financial assets which are principally related to the Legacy Contracts.”

The Market’s reaction was immediate; CAE stock declined $1.33 per share, or approximately 5%, from a closing price of $27.06 per share on May 21, 2024, to a close of $25.73 per share on May 22, 2024. Within 10-trading days the price continued to drop to $25.03.

Investors believe that CAE knew or should have known that the retirement of these legacy contracts would cost over $600 million and could have been disclosed on November 14, 2023, and not May 21, 2024, therefore allowing new investors to avoid that financial loss.

If you purchased shares of CAE, Inc. between November 14, 2023 and May 21, 2024, and would like to know more about our investigation or have information to share, please contact us at Canadainfo@bm.net or by phone at (674) 576-7840.

www.bergermontague.ca 

SOURCE Berger Montague (Canada) PC

The 6th China-CEEC (Cangzhou) SME Cooperation Forum Launches

CANGZHOU, China, Nov. 10, 2024 /PRNewswire/ – A news report by Xinhuanet:

On November 7, the 6th China-Central and Eastern European Countries (CEEC) (Cangzhou) SME Cooperation Forum commenced in Cangzhou, Hebei Province. The forum was jointly hosted by the China Centre for Promotion of SME Development (ProSME) of the Ministry of Industry and Information Technology (MIIT), the Hebei Provincial Department of Industry and Information Technology, and Cangzhou Municipal People’s Government. Supporting organizations include the China International Cooperation Association of SMEs (CICASME) and the Office of Foreign Affairs Commission of the CPC Hebei Provincial Committee. The event was co-organized by the China-CEEC (Cangzhou) SME Cooperation Zone and the Cangzhou Municipal Bureau of Industry and Information Technology.

This year’s forum, themed “Deepening Cooperation and Sharing Opportunities,” combines both offline and online formats, with a primary focus on in-person engagement. Key activities include the Opening Ceremony and Keynote Forum, the Zero-Carbon Energy and Green Industry Innovation Forum, the International Forum on Remanufacturing Industry, the International Forum on Aviation Industry and Low Altitude Economy, and the SMEs’ Cross-border Collaboration and Matchmaking Meeting, and the European Segment of the 2024 International SME Innovation and Entrepreneurship Competition.

Throughout the forum, leading experts and dignitaries from around the world delivered speeches under the theme ‘New Path for Pragmatic Cooperation between SMEs of China and CEECs.’ They emphasized the critical roles of sustainable energy, the digital economy, and trade and logistics in strengthening ties between China and Central and Eastern European countries. In parallel, the event featured a range of innovative activities aimed at building an international platform to foster industrial cooperation and exchanges among SMEs from the participating nations.

At the Zero-Carbon Energy and Green Industry Innovation Forum, participating specialists and researchers engaged in discussions on developing a zero-carbon economy. They explored new opportunities, technologies, models, and challenges associated with lithium, hydrogen, and energy storage, with the aim of collaboratively advancing the green economy.

By attracting leading European innovation projects, the European division of the 2024 International SME Innovation and Entrepreneurship Competition has successfully transformed a number of innovative ideas into real-world applications, enhancing the collaborative development of new technologies between Chinese and European SMEs.

The China-CEEC (Cangzhou) SME Cooperation Forum, now in its sixth year, has emerged as Hebei Province’s leading foreign affairs initiative. The forum has drawn high-profile participants from Slovakia, Serbia, Germany, Finland, and neighboring countries, as well as ambassadors to China, and executives from leading Chinese and international industry associations and businesses. It has also spurred numerous collaborative projects between China and Central and Eastern European countries, enhancing cultural exchanges, educational partnerships, and technology transfers.  

Cangzhou is positioning the forum as a premier, open platform designed to be engaging, impactful, and competitive. The city’s objective is to significantly improve and sustain high-level interactions and collaborations between China and Central and Eastern European countries across the manufacturing, technology, investment and trade sectors.

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