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GTN and SBI Group collaborate to launch “SBI Saudi Arabia Equity Exchange Traded Fund (ETF)”

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The launch marks the first ETF dedicated to investing in the Saudi Arabian stock market listed on the Tokyo Stock Exchange.

DUBAI, UAE, Nov. 4, 2024 /PRNewswire/ — GTN and SBI Holdings announced on October 30 at FII 8th Edition 2024 in Riyadh the launch of the “SBI Saudi Arabia Equity Exchange Traded Fund (ETF)”- a groundbreaking ETF dedicated to investing in the Saudi Arabian stock market and listed on the Tokyo Stock Exchange. This fund marks a significant milestone as it represents the first ETF focusing exclusively on Saudi equities to be accessible to Japanese investors.

The collaboration between GTN and SBI Group stems from a Memorandum of Understanding (MOU) signed in May 2024 in Tokyo at the Saudi Japan Vision 2030 Event in the presence of H.E. Eng. Khalid bin Abdulaziz Al-Falih, the Minister of Investment.

Inspired by Vision 2030, the ETF is expected to reflect the performance of the Saudi market and attract Japanese investors due to Saudi Arabia’s significant economic transformation, sustainable growth, and advanced financial infrastructure. The ETF will be managed to achieve investment results linked to the “MSCI Saudi Arabia Index (yen equivalent basis)”. SBI Asset Management received the regulator’s approval, and the ETF was successfully listed on the Tokyo Stock Exchange on October 31, 2024. 

As per the MOU signed between the parties, SBI Asset Management will be responsible for creating, managing and promoting the ETF in Japan, while GTN will provide research, execution, clearing and settlement services to the ETF. 

SBI Group is a strategic investor of GTN and a key partner in GTN’s expansion plans in Asia.   

The Chairman of GTN and its mother company NTG, Mohammed Rashid Al Ballaa said: “We are excited about the collaboration between SBI Group and GTN to launch the first-ever Saudi-focused ETF in Japan. SBI Group has access to over 10 million customers and is ideally suited to promote an ETF linked to the Saudi market in Japan. This milestone was achieved thanks to Mr. Yoshitaka Kitao, the visionary leader and founder of SBI Group.” “The ongoing support of the Saudi Stock Exchange and the Ministry of Investment in Saudi Arabia were also essential success factors in reaching this milestone,” said Mr. Al Ballaa.      

At the FII conference in Riyadh, Mr. Yoshitaka Kitao said: “I am excited to be in the Kingdom and see the development that has taken place over the past few years. I am also excited to see the unfolding of the Vision 2030. I am confident that the Saudi Arabia ETF will provide Japanese investors the opportunity to participate and be part of the growth journey of Saudi Arabia.” 

About GTN

GTN is a fintech pioneer with decades of success, holding broker-dealer and capital markets services licenses in multiple jurisdictions through subsidiaries. We are committed to empowering brokers, banks, asset managers, and fintechs with scalable and innovative investment and trading solutions that enable access to a comprehensive network of global markets and multiple asset classes, making investment and trading accessible to all.

GTN brings together a diverse team of over 500 talented individuals spread across Brazil, Hong Kong, Saudi Arabia, Singapore, South Africa, Sri Lanka, the UAE, the UK, and the US, united by a shared passion and purpose: empowering clients and transforming the accessibility to investment and trading opportunities for all.

GTN is backed by strategic investors IFC, a member of the World Bank Group, and SBI Group, one of the largest financial services firms listed on the Tokyo Stock Exchange. To learn more, visit www.gtngroup.com or follow us on LinkedIn.

About SBI Group

Over 25 years of successful track record, SBI Group has become one of the largest FinTech companies in Japan. Listed on the Tokyo Stock Exchange, the SBI Group has over 19,000 employees and 685 group companies. SBI Group’s main businesses are financial services, asset management, investment business, Crypto-assets and Next Gen businesses such as biotechnology, healthcare and Web3.

SBI Group companies include SBI Securities, Japan’s number one online securities company, SBI Sumishin Net Bank, Japan’s largest internet bank in terms of deposit amount, and a variety of other financial companies.

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TTA and O-RAN ALLIANCE Signed Agreement to Cooperate on Standardization of Open RAN Technology

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WASHINGTON and BONN, Germany, Nov. 25, 2024 /PRNewswire/ — TTA and O-RAN ALLIANCE have officially announced the signing of a Cooperation Agreement (CA) that enables the adoption of O-RAN ALLIANCE specifications to TTA standards.

The agreement establishes a collaborative process through which individual O-RAN specifications will be selected and adopted by TTA, strengthening the framework for Open RAN development and deployment in the Republic of Korea. By enabling O-RAN ALLIANCE specifications to be adopted as TTA standards, the agreement provides the basis for accelerated progress in mobile network innovation and supports the creation of a more competitive and diverse telecommunications ecosystem.

This agreement aligns with the shared vision of TTA and the O-RAN ALLIANCE to drive the industry towards the development of more intelligent, open, and virtualized mobile networks that comply with global standards. Both organizations are committed to fostering a robust framework that facilitates the adoption of Open RAN technology, ensuring that mobile networks meet evolving technical and architectural requirements in the future.

“TTA and O-RAN ALLIANCE share a commitment to the advancement of Open RAN and recognize the important role it plays in fostering an ecosystem of trusted vendors capable of delivering cost-effective, high-performance mobile network platforms.” said Seung-Hyun Son, President of TTA. “The Cooperation Agreement we have signed will combine the expertise and influence of both organizations to ensure interoperability in the open RAN market and the deployment of systems based on integrated, standards-based technologies.”

“O-RAN ALLIANCE specifications set the global foundation for open, intelligent, virtualized and interoperable Radio Access Networks, building on common RAN standards,” said Abdurazak Mudesir, Chair of the Board of O-RAN ALLIANCE and Group CTO, Deutsche Telekom. “O-RAN ALLIANCE welcomes TTA’s transposition of O-RAN specifications to TTA standards. As with other national SDO’s, this MoU ensures technical alignment and supports mutual efforts to enable truly open RAN ecosystem.”

About TTA

The Telecommunications Technology Association (TTA) is a leading organization in the Republic of Korea dedicated to develop ICT standardization and provide testing and certification services. It plays a key role in setting and promoting high-quality ICT standards that enable the development and adoption of innovative communication technologies, ICT convergence, security, software, broadcasting, radio/wireless communications, 5G/B5G, etc. TTA’s extensive range of services includes testing and certification for software and network systems, ensuring that they meet global industry standards. By supporting international cooperation and developing specialized training programs, TTA contributes to the growth and competitiveness of Korea’s digital and telecommunications industries.

For more information, visit www.tta.or.kr

About O-RAN ALLIANCE

The O-RAN ALLIANCE is a worldwide community of more than 300 mobile operators, vendors, and research & academic institutions operating in the Radio Access Network (RAN) industry. As the RAN is an essential part of any mobile network, the O-RAN ALLIANCE’s mission is to re-shape the industry towards more intelligent, open, virtualized and fully interoperable mobile networks. The new O-RAN specifications enable a more competitive and vibrant RAN supplier ecosystem with faster innovation to improve user experience. O-RAN based mobile networks at the same time improve the efficiency of RAN deployments as well as operations by the mobile operators. To achieve this, the O-RAN ALLIANCE publishes new RAN specifications, releases open software for the RAN, and supports its members in integration and testing of their implementations.

For more information, please visit www.o-ran.org.

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SOURCE O-RAN Alliance

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The vegetable greenhouse at the foot of the Turpan Flame Mountain ushered in a new era of electrification

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TURPAN, China, Nov. 25, 2024 /PRNewswire/ — On November 20, in the 10,000-mu vegetable greenhouse base in Sanbao Township, under Huoshan Mountain, Turpan City, Xinjiang, there was a busy and warm scene. Power supply personnel are shuttling between greenhouses, helping growers to debug electric heaters and other electrical equipment to ensure a stable supply of vegetables this winter. Despite the cold wind, the greenhouses are full of greenery, and growers are busy planting fruits and vegetables such as peppers and bok choy in preparation for the upcoming harvest season.

In recent years, with the in-depth promotion of smart greenhouse technology, the electrification of greenhouses has become a common trend in Turpan. Growers have adopted modern equipment such as electric roller shutters, electric heating equipment, temperature and humidity control devices, which not only improve production efficiency, but also greatly improve the quality of fruits and vegetables.

In view of the concentrated area of greenhouse planting, the State Grid Turfan Power Supply Company carried out a survey on electricity demand in advance and vigorously implemented the upgrading and transformation project of the rural power grid. By upgrading transformers and rural power lines in a timely manner, the power supply company has effectively improved the stability and reliability of power supply. At the same time, the company also regularly carries out door-to-door services to help growers check the hidden dangers of electricity, ensure the stable operation of greenhouse equipment, and protect the growers’ “money bags”.

Turpan City has 24,000 greenhouses, and the planting area of fruits and vegetables reaches 36,000 mu, forming 15 relatively concentrated development areas. In November this year, the planting of off-season fruits and vegetables in winter has been in full swing, and it is expected that they will be available from January to April next year. These products are mainly shipped to Urumqi and other medium-sized cities, becoming a veritable “vegetable basket” in Xinjiang.

Electrification not only brings about productivity gains, but also significant environmental benefits. Traditional coal-fired heating methods not only pollute the environment, but also have potential safety hazards. Electric heating equipment is not only environmentally friendly, but also easy to control, which can accurately adjust the temperature in the greenhouse and provide the best growing environment for fruit and vegetable growth.

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SOURCE State Grid Turfan Power Supply Company

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Special Envoy of Indonesia, Hashim Djojohadikusumo Attracts EUR 1.2 Billion of Green Financing in Electricity Sector at COP29

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BAKU, Azerbaijan, Nov. 25, 2024 /PRNewswire/ — The Government of Indonesia, represented by the Special Envoy of the President of the Republic of Indonesia, Hashim Djojohadikusumo, has attracted EUR 1.2 billion in green financing for the power sector from Kreditanstalt für Wiederaufbau (KfW). This agreement was finalized during the 29th Conference of the Parties (COP29) in Baku, Azerbaijan, on Wednesday (11/13). The funding will be allocated to the development of various green power infrastructures, supporting the nation’s sustainable energy transition.

The partnership was formalized by the signing of a Memorandum of Understanding (MoU) between PT PLN (Persero) and KfW. This partnership focuses on developing clean energy projects, specifically Pumped Storage Hydropower Plants and transmission network to connect green power plants.

Hashim Djojohadikusumo emphasized that the government of Indonesia is committed to reducing carbon emissions through energy transition by fostering collaborations at the global level, the shift towards renewable energy is expected to support energy self-sufficiency and drive national economic growth. He affirmed, “We have developed a new strategy over the next five years to achieve a minimum of 8% sustainable economic growth.”

He underscored that the development of clean energy sources is crucial for enhancing Indonesia’s industrial competitiveness. Over the next 15 years, the country targets a 75 percent increase in renewable energy generation capacity, contributing to the planned addition of 100 gigawatts (GW) of electricity capacity. “As a major nation, we are committed to fulfilling our responsibility to protect the future of our environment. We deeply appreciate the established international cooperation, which is a testament of our collective efforts in achieving the Net Zero Emissions (NZE) target,”

Darmawan Prasodjo, President Director of PT PLN (Persero) (“PLN”), expressed the corporation’s firm support towards the government’s initiatives in advancing energy transition. Various collaborations and initiatives have been implemented by PLN to ensure the success of sustainable electricity projects.

He noted that KfW’s involvement in PLN’s green projects is expected to drive more international partners to collaborate, cultivating a synergy of sustainable strategic, technical, and investment collaboration to accelerate global climate action. “This collaboration signifies PLN’s proactive steps in expanding international partnerships to enhance national energy self-sufficiency in line with global climate actions.”

Jürgen Kern, Sustainability Officer of KfW Group, explained that KfW’s support for Indonesia demonstrates Germany’s commitment to international cooperation for green transformation. Furthermore, Jürgen highlighted that PLN is at the center of Indonesia’s energy transition, underscoring the company’s unwavering support to greening the energy sector, while maintaining reliable energy access.

“Therefore, we believe that Indonesia and Germany can continue to strengthen partnership in the energy sector, moreover, in clean energy projects, like renewable energy and transmission. Achieving the NZE target requires robust collaboration and partnership,” he concluded.

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SOURCE PT PLN (Persero)

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