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ADGM’s Asset Management Sector Leads Exponential Growth in Third Quarter of 2024

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ABU DHABI, UAE, Nov. 30, 2024 /CNW/ — ADGM, the international financial centre (“IFC”) of Abu Dhabi, announced another quarter of unprecedented growth, with exceptional achievements for the third quarter (“Q3”) of 2024 across key metrics. The results underscore ADGM’s pivotal role in Abu Dhabi’s strategic ambition to diversify its economy and solidify its position as a premier global destination for finance, investment, and innovation. ADGM continues to align with Abu Dhabi’s economic growth, which registered a 6.6% growth in non-oil GDP, in the Q2 of 2024.

His Excellency Ahmed Jasim Al Zaabi, the Chairman of ADGM, remarked, “Our record-breaking achievements in Q3 exemplify the appeal of ADGM’s world-class ecosystem that brings together a stable regulatory environment, strategic location and ease of doing business. The continued influx of businesses and investors into ADGM highlights Abu Dhabi’s competitive advantage in the global financial industry and the growth of the Falcon Economy. As we pave the ‘Path to Forward’, we aim to continue building on this momentum to deliver further growth and innovation that benefits not just Abu Dhabi and the UAE, but the wider financial community.”

Asset Management Leads Growth

ADGM recorded a substantial increase of 215% in total Assets Under Management (AUM) in Q3 2024 compared to Q3 2023, demonstrating its rapid ascent as a top asset management hub in the MENA region. This growth highlights ADGM’s ability to attract high-calibre asset managers, investment funds, and private equity firms, establishing it as a go-to location for institutional investors worldwide. This is also reflected in the growth of the total fund and asset managers, which reached 128, managing 156 funds, as of the end of Q3 2024.

Joiners during the Q3 of 2024 include PGIM, Nuveen, Elysium Management, Stonepeak, and Gemcorp Capital.

Surge in New Business Registrations and Expanding Ecosystem

In Q3 of 2024, ADGM saw a 33% rise in the number of newly issued business licences compared to the same period last year. A total of 759 new licences were issued over the period to financial, non-financial and retail firms. The total number of operational entities within ADGM’s jurisdiction jumped to 2,251, an impressive 31% year-on-year growth. The surge reflects strong demand from a diverse range of sectors, including asset management, FinTech, and professional services, within ADGM’s ecosystem.

Furthermore, the workforce within ADGM’s jurisdiction has been steadily increasing with more and more businesses joining its vibrant ecosystem marking an increase of 35% in the overall workforce.

Roadshows Bringing Abu Dhabi to the World

In line with its mission to enhance global connectivity and attract investments, ADGM participated in a series of international roadshows during Q3 of this year. One of the major ones was several high-level engagements in China and Hong Kong to celebrate 40 years of bilateral relations between the UAE and China.  Furthermore, ADGM delegations continued their series of engagements with financial leaders and authorities in the international market covering Singapore, London, Washington DC and New York, bringing the total number of bilateral discussions to more than 150 across key international markets.  

Upcoming Flagship Event

Looking forward, as ADGM nears the end of the 2024 financial year, it is set to host the third edition of its flagship event series, Abu Dhabi Finance Week (ADFW) in December. The event is expected to bring over 20,000 delegates to explore the theme ‘Welcome to the Capital of Capital’.

Logo – https://mma.prnewswire.com/media/2550581/5010772/ADGM_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/adgms-asset-management-sector-leads-exponential-growth-in-third-quarter-of-2024-302319069.html

SOURCE ADGM

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2024 China-ASEAN College Students’ AI Application Innovation, Recruitment is starting now!

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Free registration with generous rewards!
High winning rate, and professional project guidance throughout the entire process!

All participating contestants will receive free training opportunities, and winning projects will be granted entrepreneurial support as well as generous creative rewards! The entry requirements, competition process, and various other matters have already been prepared for you. So, come and sign up with your creative ideas !

KUALA LUMPUR, Malaysia, Jan. 14, 2025 /PRNewswire/ —

Competition Introduction

2024 China-ASEAN College Students’ AI Application Innovation, co-organized by Guangxi Tus Innovation Cross-Border E-commerce Co., Ltd & Brunsfield TusStar Sdn. Bhd. (TusStar Malaysia), aims to provide a platform for university students from China and ASEAN countries to exchange ideas and learn from each other, focusing on innovative elements such as artificial intelligence, vocational education, and the digital economy. It is dedicated to nurturing a new generation of youth who can adapt to the digital era, drive educational transformation through technology, and promote innovative cooperation and development of AI technology within the digital economy. We sincerely invite outstanding young talents to participate and jointly realize our innovative dreams from around the world!

Participants

It is face to Full-time college and undergraduate students from China and ASEAN countries (including international participating teams).

Competition Process and Schedule

Pre-registration and Preliminary Selection: November 29, 2024, 00:00 – February 14, 2025, 12:00
Online registration and submission of entry materials, preliminary screening of projects

Pre-competition Coaching: December 1, 2024February 14, 2025
Industry mentors’ sharing sessions, systematic understanding of AI applications, development of creative proposals

Project Coaching: February 19March 10, 2025
AI technology training, mentor guidance on projects

Final Road Show: Early March 2025
Onsite Final Road Show in Kuala Lumpur, Malaysia (combining online and offline elements)

Award Ceremony: Early March 2025
Award ceremony, expert and scholar symposium, sharing cutting-edge knowledge on the digital economy.

Award Settings

Gold Award*1  The prize of 4000 RMB/team
Silver Award*2  The prize of 3000 RMB/team
Bronze Award*3  The prize of 2000 RMB/team
And Most Creative Award 、Most Potential Award、Merit Award
You can get honor certificate, incubation support, internship opportunities, inclusion in domestic and international project databases.

Registration Channel

Competition Official Website:www.innoai-cnaseanhub.com

Contact: Teacher Luo 13263715689

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/2024-china-asean-college-students-ai-application-innovation-recruitment-is-starting-now-302350265.html

SOURCE TusStar Malaysia

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Datalogic introduces breakthrough embedded AI solutions at NRF 2025

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Test AI-driven solutions and the latest scanning technology at NRF, Booth #5639 

NEW YORK, Jan. 14, 2025 /PRNewswire/ — Datalogic, a global leader of barcode scanning solutions in Retail, T&L and Manufacturing, is set to revolutionize the retail industry with the unveiling of its latest embedded AI solutions and new products at the National Retail Federation (NRF) 2025 exhibition in New York.

From the first introduction of an automated checkout in 1974 to revolutionary solutions brought to the Retail World, Datalogic remains the undisputed leader in innovation. Datalogic is exhibiting its solutions at booth #5639.

The new Datalogic AI Loss Prevention Suite, featuring advanced machine learning models, will be available on Magellan™ multi-plane scanners and Mobile computers. This suite will support retailers reduce shrinkage across store operations, from checkout to in-store, improving both efficiency and accuracy.

Innovative Solutions for Loss Prevention at Checkout
Available exclusively on the Magellan series scanners, and fully integrated, debuting at NRF and scheduled for launch in 2025:

Produce Recognition on Magellan 9900i recognizes and identifies fresh produce with unparalleled accuracy, streamlining checkout processes and reducing errors.Ticket Switching Detection on Magellan 9600i, a groundbreaking feature identifying barcode substitutions that can result in pricing discrepancies, helping retailers safeguard revenue and maintain pricing integrity.Scan Avoidance Detection on Magellan 9600i, identifies potential instances where items are intentionally or unintentionally not scanned, offering retailers a proactive tool to minimize shrinkage.

Innovative Solutions for Loss Prevention In-store
Available exclusively with our latest and most advanced self-shopping software Shopevolution™ 8, debuting at NRF and scheduled for launch in 2025:

      4. AI Audit Rules for Shopevolution 8, equipped with AI and machine learning pre-trained models, helps to trigger audits only when needed using dynamic and real-time data, map shopping behavior and analyze shrink, enabling data-driven decisions.

A Milestone in Retail Technology
Unlike other solutions reliant on third-party partnerships, Datalogic’s embedded proprietary AI technology ensures seamless integration, robust performance, and unrivalled competitiveness. These solutions highlight Datalogic’s commitment to empowering retailers with advanced tools to optimize operations and enhance customer experience.

Datalogic is excited to welcome NRF attendees to visit booth #5639, where they can experience the latest advancements in AI-powered solutions and scanning edge technologies. Our expert team will be on hand to showcase how these intelligent solutions are transforming the way businesses operate in today’s fast-paced world. Don’t miss this opportunity to see how Datalogic is shaping the future of retail and beyond.

Datalogic Group

Global technology leader in the automatic data capture and factory automation markets since 1972, specialized in the designing and production of barcode readers, mobile computers, sensors for detection, measurement and safety, machine vision and laser marking systems.
Datalogic S.p.A. is listed in the Euronext STAR Milan segment of the Italian Stock Exchange since 2001 as DAL.MI. Visit www.datalogic.com.
Datalogic and the Datalogic logo are registered trademarks of Datalogic S.p.A. in many countries, including the U.S.A. and the E.U. Other trademarks belong to their respective owners.

View original content:https://www.prnewswire.com/news-releases/datalogic-introduces-breakthrough-embedded-ai-solutions-at-nrf-2025-302350271.html

SOURCE Datalogic

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ASMO Announces First Warehouse Operations Go-Live and Strategic Partnership with Aramco

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DHAHRAN, Saudi Arabia, Jan. 14, 2025 /PRNewswire/ — ASMO, a joint venture between Saudi Aramco Development Company and DHL, yesterday announced the official launch of its operations, marking a significant milestone just one year after its incorporation. The announcement was made during the iktva Forum & Exhibition 2025 at the Dhahran Expo, held under the patronage of His Royal Highness Prince Saud bin Nayef bin Abdulaziz Al-Saud, Governor of the Eastern Province, Saudi Arabia.

Coinciding with its operational launch, ASMO unveiled a landmark 15-year Procurement and Logistics Hub Services Agreement with Aramco. This strategic commercial partnership governs the relationship between Aramco as a customer and ASMO as a service provider. Under this agreement, ASMO will deliver integrated end-to-end supply chain services, including procurement, demand planning, inventory management, logistics, warehousing, establishing logistics hubs, and access to a B2B e-marketplace.

“This agreement reflects Aramco’s commitment to enhancing supply chain operations and strengthening local capabilities,” said Sulaiman M. Al Rubaian, Aramco Senior Vice President of Procurement & Supply Chain Management (A). “Our long-term agreement with ASMO demonstrates our trust and confidence in its ability to deliver integrated supply chain solutions that will optimize operations, drive cost-efficiency, and build an extensive supply chain ecosystem that is aligned with our strategic priorities.”

ASMO’s operational launch begins with the go-live of its warehousing operations in Riyadh, supporting Aramco’s central region operations.

“With the launch of our first warehouse operation in Riyadh and this strategic commercial agreement with Aramco, ASMO is taking its initial steps toward building a resilient logistics network that spans six strategically located, technology-enabled facilities across the Kingdom,” said Craig Roberts, ASMO CEO. “This milestone represents the beginning of our operational journey, as we expand our capabilities, address today’s supply chain challenges, and deliver solutions that create value for businesses across Saudi Arabia and the wider MENA region.”

As a key participant at iktva 2025, ASMO’s announcement demonstrates its commitment to advancing localization efforts, enhancing logistics infrastructure, and contributing to Vision 2030’s goal of positioning Saudi Arabia as a hub for global trade and supply chain excellence.

About ASMO

We are ASMO. Our mission is to provide reliable, world-class, procurement and end-to-end supply chain services that create value for companies in the energy, chemical, and industrial sectors across Saudi Arabia and the wider MENA region.

With a focus on efficiency, innovation, and cost optimization, we deliver streamlined and sustainable supply chain solutions. Our expertise includes materials procurement, inventory management, logistics, reverse logistics, and warehousing—all powered by cutting-edge technologies.

As a contributor to Saudi Arabia’s Vision 2030, ASMO supports economic diversification and resilience by advancing localization and building strategic partnerships.

To learn more about ASMO, please visit our website www.asmo.com.

Photo – https://mma.prnewswire.com/media/2597550/ASMO_Aramco.jpg

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/asmo-announces-first-warehouse-operations-go-live-and-strategic-partnership-with-aramco-302350284.html

SOURCE ASMO

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