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CareEdge announces entry into Global Scale Ratings with launch of Sovereign Ratings for 39 Countries

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First Indian credit rating agency to enter the Global Scale Ratings with launch of CareEdge Global IFSC Ltd.Unveiled CareEdge Report on Sovereign Ratings of Global Economies

MUMBAI, India, Oct. 4, 2024 /PRNewswire/ — CareEdge Ratings, India’s leading credit rating agency, today announced that it has become the first Indian credit rating agency to enter the Global Scale Ratings space, through its subsidiary, CareEdge Global IFSC Limited.

CareEdge has unveiled a report on Sovereign Ratings of Global Economies, releasing sovereign ratings of 39 countries in a mega event held at GIFT City, Gandhinagar, India. Many eminent personalities from regulators, corporates and policy makers were present during the launch, including Shri K.V. Kamath – renowned corporate leader in India, Shri Ashish Kumar Chauhan – MD & CEO, NSE, and Shri Sanjeev Sanyal – Member, Economic Advisory Council to Prime Minister.

In its first sovereign rating action, CareEdge Global has assigned the following ratings to 39 countries: AAA to Germany, Netherlands, Singapore and Sweden; AA+ to Australia, Canada and USA; AA- to France, Japan, Korea, UAE and UK; A+ to Portugal, A to China and Spain; A- to Chile, Malaysia and Thailand; BBB+ to Botswana, India and Philippines; BBB to Indonesia, Italy and Mauritius; BBB- to Mexico, Morocco and Peru; BB+ to Brazil, Columbia, Greece and Vietnam; BB to South Africa ; B+ to Turkey; B to Nigeria; B- to Ecuador and Egypt; CCC+ to Bangladesh; CCC to Argentina and D to Ethiopia.

Speaking on the occasion, Mehul Pandya MD & Group CEO, CareEdge said, “This is a significant milestone for us in our journey towards becoming a global knowledge-based institution. As India’s economic influence grows, it is both timely and appropriate for an Indian company to enter this domain. CareEdge Ratings brings with it a nuanced understanding of emerging economies – a perspective that is invaluable in today’s complex global economic environment. We are convinced that it is very important to have transparency in methodology of sovereign ratings, particularly in assessing the growth potential and investment needs of economies. This reflects in the ratings assigned by us. We are conscious of the responsibility that comes with our entry into this space and are fully committed to provide independent and unbiased opinion.”

CareEdge Sovereign Ratings methodology involves analysis under five broad pillars to determine a sovereign’s creditworthiness. These pillars are Economic Structure & Resilience (25% weightage), Fiscal Strength (25% weightage), External Position & Linkages (16.67% weightage), Monetary & Financial Stability (16.67% weightage), and Institutions & Quality of Governance (16.67% weightage). The assessment of each of these pillars is based on the consideration of historical, current as well as expected future trends.

Rajani Sinha, Chief Economist, CareEdge Ratings said, “Our methodology is robust and aptly captures the nuances of developed and emerging economies, even while applying  consistent thresholds across countries. This rating assigned using our methodology will aid investors and enhance the diversity of opinions about various countries.”

The entire report on Sovereign Ratings of Global Economies can be accessed at www.careedgeglobal.com

About CareEdge Ratings

CareEdge is a knowledge-based analytical group offering services in Credit Ratings, Analytics, Consulting and Sustainability. Established in 1993, the parent company CARE Ratings Ltd (CareEdge Ratings) is India’s second-largest rating agency, with a credible track record of rating companies across diverse sectors and holding leadership positions in high-growth sectors such as BFSI and Infra. The wholly-owned subsidiaries of CareEdge Ratings are (I) CARE Analytics & Advisory Private Ltd. (previously known as CARE Risk Solutions Pvt. Ltd.), and (II) CARE ESG Ratings Ltd, (previously known as CARE Advisory Research and Training Ltd.). Besides CareEdge Global IFSC Ltd., CareEdge Ratings’ other international subsidiaries entities include CARE Ratings Africa (Private) Limited in Mauritius, CARE Ratings South Africa Pty. Ltd, and CARE Ratings Nepal Limited.

For further details, contact:
Tayyab Imadi 
+91 99672 12492 
tayyab@whitemarquesolutions.com

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SOURCE CareEdge Ratings

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Prime Securities Forays into Wealth Management

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MUMBAI, India, Oct. 4, 2024 /PRNewswire/ — Prime Securities Ltd. (PSL https://primesec.com/ ), a SEBI registered Category-I Merchant Banker, is expanding its reach within the financial services sector by entering the wealth management business through its wholly-owned subsidiary, Prime Trigen Wealth Ltd. (PTWL). This strategic move aims to tap into new growth opportunities with significant scalability potential.

PTWL has roped in industry veterans Mr. Sailesh Balachandran and Mr. Maneesh Kapoor as Executive Director, Founders and Joint-CEO, to take charge of its Wealth Management business. PTWL will initially launch in NCR, Mumbai, Bangalore, and Chennai, with plans to gradually expand its services to the top Tier 1 and Tier 2 wealth destinations across the country.

Sailesh Balachandran, with 24 years of experience in the Banking and Financial Services sector, was previously Managing Director and Head of South India at LGT Wealth India. His past roles have spanned across ICICI Securities Private Wealth and HSBC Bank.

Maneesh Kapoor brings over 24 years of experience in the Banking and Financial Services industry, having served as a Senior Managing Partner at InCred wealth and Business Head for North and East India at LGT Wealth, in his previous roles. His career also includes holding key leadership positions at ICICI Securities Private wealth and ICICI Bank Ltd.

Maneesh and Sailesh’s extensive expertise and proven leadership abilities have consistently driven success and innovation in the industry. They have the experience of building and scaling business and capabilities across India, leading teams that included nearly 70 exceptional private bankers and over $1.5 billion of assets under management.

In a joint statement, Maneesh and Sailesh expressed their excitement about joining PTWL: “We are delighted to be part of the founding team of Prime Trigen Wealth. We keenly look forward to building a comprehensive, high-tech enabled and RM-led wealth management practice dedicated to serving the rapidly growing HNI, Ultra HNI and Family Offices across India. Prime’s entrepreneurial spirit and agility provide the ideal environment for creating a robust wealth business. Furthermore, the synergy with Prime’s full-service investment banking offerings will enable us to deliver unique and unparalleled solutions to our clients.”

Akshay Gupta, Director of Prime Securities, added, “The Wealth Management business will complement our existing services and provide synergistic value to Prime Group’s shareholders. Our clients, both current and new, will benefit from Prime’s decades of expertise in investment banking and corporate and family office advisory, allowing us to offer bespoke solutions in an increasingly crowded wealth management market.”

Prime Securities is a well-respected name in business, corporate, and family business circles, having collaborated with some of India’s most prominent industry leaders as well as new-age entrepreneurs and businesses. The rise of Gen-AI, along with the emergence of wealthy new-age businesses and the growing segments of High-Net-Worth Individuals (HNI) and Ultra High Net Worth Individuals (Ultra HNI), highlights the significant wealth creation occurring in the country. With its extensive capabilities, robust network, and established credentials, Prime Securities recognizes the increasing demand for professional services tailored to India’s wealthy clients and is strategically positioned to capitalize on this market opportunity.

About Prime Securities Limited (NSE: PRIMESECU) (BSE: 500337)

Prime Securities Limited (“Prime”) is a SEBI registered Category-I Merchant Banker since almost 3 decades. Prime is among the top pure play Investment Banking (IB) outfits in India. Prime offers wide and diverse service offering that includes facilitating equity and debt capital, M&A advisory, QIPs, debt syndication, structured credit, restructurings & resolutions, rights issues, buybacks, open offers, delisting, etc. Prime is listed on BSE Limited and National Stock Exchange of India Limited since 1995.

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Vieworks to Showcase VT Sense Series at VISION 2024

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ANYANG, South Korea, Oct. 4, 2024 /PRNewswire/ — Vieworks, a leading manufacturer of industrial cameras, is set to introduce its latest innovations at VISION 2024 in Stuttgart, Germany (booth 10E30, October 8th – 10th). Vieworks will showcase a broad selection of industrial cameras and lenses, including the highly anticipated VT Sense Series.

As a pioneer in industrial cameras, Vieworks will present a wide range of area scan cameras, with resolution from 0.4 megapixel to 1152 megapixels. The latest VZ Series is a family of compact cameras with GigE and USB 3.0 interfaces, ideal for automated inspection systems across multiple industries.

Among the highlights of Vieworks’ cameras will be the TDI (time delayed integration) line scan cameras, renowned for their exceptional sensitivity achieved through up to 256 stages of integration. Available in M42, M58, M72, and M95 mounts from 2k to 23k resolution, these TDI line scan cameras are suitable for various applications in low-light environments.  

At the forefront of the TDI line scan lineup is the latest VT Sense Series, equipped with BSI (back-side illuminated) sensors for even higher sensitivity. This newest series boasts unmatched sensitivity as well as excellent quantum efficiency (QE) and signal-to-noise ratio (SNR). The back-side illuminated VT Sense ensures superior image quality in visible, UV (ultraviolet), and NIR (near-infrared) spectrum.  

In addition to the camera lineup, Vieworks will also highlight its VEO Series, a family of industrial lenses codeveloped with Schneider Kreuznach. VEO Series is precisely designed to maximize the performance of Vieworks’ cameras.

“We are more than thrilled to introduce the all-new VT Sense Series at VISION 2024 and hear what our customers have to say. VISION serves as a great opportunity to engage with our partners,” a Vieworks spokesperson remarked. “Our goal for VISION 2024 remains clear: continuing our efforts on being our customers’ vision partner and delivering the vision solution to suit their needs.”

The world’s leading trade fair for machine vision, the two-year cycle VISION anticipates yet another record-breaking attendance in 2024.

About Vieworks Co., Ltd.

With industry-leading technology, Vieworks provides machine vision solutions encompassing industrial cameras, industrial lenses, and machine vision accessories. As your vision partner, Vieworks offers innovative vision and insight for your vision system. For more information, please visit vision.vieworks.com

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SOURCE Vieworks Co., Ltd.

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A23 rolls out India’s Biggest Rummy Festival ahead of the festive season; offers ₹100 crore prize pool

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A23– a premier rummy platform offers mega prizes for rummy enthusiasts with a whooping first prize of ₹1 crore

BENGALURU, India, Oct. 4, 2024 /PRNewswire/ — Ushering in the festive season, A23 (Head Digital Works), India’s leading skilled gaming platform with more than 70 million registered users, announced the launch of A23 Rummy Maha Mela, a hundred-day long online rummy extravaganza starting October 5 to January 12, 2025. This mega event is the first of its kind and is slated to be the biggest online rummy celebration this festive season, offering an array of exciting rewards and experiences for rummy enthusiasts across India.

During the A23 Rummy Maha Mela, players can showcase their rummy skills and get the opportunity to compete for luxurious prizes, including a BMW car, XUV700s, Royal Enfield motorcycles, gold coins, iPhones and loads of cash prizes. The A23 Rummy Maha Mela is designed to be the ultimate online rummy festival, featuring a combination of challenges, leaderboards and tournaments where winners will be presented with exciting rewards, cash prizes and much more.

The Maha Mela aims to elevate the gaming experience for every rummy enthusiast by providing high-value rewards that add to the festive cheer.

The A23 Rummy Maha Mela will culminate into an offline mega finale, also considered a highly anticipated event for rummy enthusiasts. Top 36 finalists from the online competitions will get an opportunity to compete in an offline format at an exotic location, to be revealed soon. The offline finale is scheduled to take place after January 12, 2025, and promises to be an exciting culmination of the festival, bringing together the top rummy players from across the country.

Commenting on the mega event, Deepak Gullapalli, Founder & CEO, A23 (Head Digital Works), said, “We’ve witnessed a growing popularity of online rummy in India. The festive season is the perfect time to bring in cheer to families across India and for us, A23 Rummy Maha Mela is not only an occasion to celebrate our loyal customer base but also rummy enthusiasts and the A23 family at large. Through this festival, players can showcase their rummy skills and celebrate all through the festive season with mega wins. The mela is designed to celebrate the spirit of rummy and offer unparalleled rewards and experiences to players. This, coupled with A23 being a trusted rummy platform is sure to set a new benchmark in the online gaming industry.”

Along with the Rummy Maha Mela, the premier rummy platform will also be kicking off multiple video campaigns to capture the attention of rummy aficionados. Customers can keep a tab on the offers available through A23’s official app, website and social media handles.

About Head Digital Works

Head Digital Works is India’s oldest online skill-gaming company that develops and operates platforms like A23 Rummy, A23 Poker and Cricket.com. A23 has over 70 million registered users across India and is the first-ever website to launch the classical Indian Rummy. A23 is on a mission to promote Rummy as a professional game and create a community of skilled gamers.

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