Technology

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

Published

1 month ago

November 30, 2024

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

Technology

LB Technology Partners with Motorq to Integrate OEM Data Services

Published

29 minutes ago

January 13, 2025

MEMPHIS, Tenn., Jan. 13, 2025 /PRNewswire/ — LB Technology, a leader in fleet management and telematics solutions, is pleased to announce a strategic partnership with Motorq, a leading connected vehicle data platform, to integrate OEM data services into LB Technology’s suite of fleet solutions. This collaboration enhances LB Technology’s ability to provide real-time insights, streamline operations, and offer data-driven decision-making capabilities to its clients using factory-installed OEM telematics hardware from some of the world’s leading automakers, including General Motors, Ford, Toyota, Stellantis, Volkswagen, Volvo, BMW and more.

Integrating Motorq’s cutting-edge OEM data services will enable LB Technology to deliver richer, more accurate vehicle data, including diagnostics, driver behavior analytics, and predictive maintenance insights across many different vehicle manufacturers to deliver actionable insights on one single platform without needing external devices.

“Integrating Motorq’s OEM data services into our platform represents a significant step forward in our mission to deliver smarter, more efficient solutions on one single platform for fleet operators,” said Matt Courts, CTO of LB Technology. “This partnership empowers our customers with the tools and data they need to operate more safely, cost-effectively, and sustainably. We are excited about the possibilities this collaboration brings.”

“We’re thrilled to partner with LB Technology, a company that shares our vision of harnessing data to drive smarter fleet management,” said Matt Naiman, Senior Vice President of Sales at Motorq. “Our OEM data services bring unparalleled accuracy and depth, providing LB Technology’s customers with the insights they need to optimize their operations and achieve their goals.”

The partnership between LB Technology and Motorq is poised to set a new standard in fleet management. It will enable businesses to unlock the full potential of mixed fleet-connected vehicle data while enhancing safety, efficiency, and productivity.

For more information about this partnership and its benefits, please visit www.fleettrack.com.

About LB Technology
LB Technology is a leading provider of fleet management solutions, delivering cutting-edge telematics technology and data-driven insights to businesses worldwide. By leveraging innovative tools and expertise, LB Technology empowers fleet operators to improve safety, efficiency, and sustainability.

About Motorq
Motorq is a leading connected vehicle data platform that helps businesses unlock the power of OEM data to optimize fleet performance and operations. With a focus on accuracy, security, and actionable insights, Motorq is revolutionizing how organizations manage their fleets.

View original content:https://www.prnewswire.com/news-releases/lb-technology-partners-with-motorq-to-integrate-oem-data-services-302349476.html

SOURCE LB Technology, Inc.

Technology

InventHelp Inventor Develops New Set of Audio Accessories (BDH-351)

Published

29 minutes ago

January 13, 2025

PITTSBURGH, Jan. 13, 2025 /PRNewswire/ — “I wanted to create a way to use either earphones or open-air speakers with one accessory,” said an inventor, from Deridder, La., “so I invented the RACHAL – JOHNSON INVENTION. My design increases options when listening to music or other digital content.”

The patent-pending invention provides a new set of accessories for digital music/media consumers. In doing so, it allows for wireless earphone and speaker use. As a result, it increases convenience. It also offers uninterrupted listening, even when charging the earphones. The invention features a versatile design that is easy to use so it is ideal for the general population. Additionally, a prototype is available.

The original design was submitted to the National sales office of InventHelp. It is currently available for licensing or sale to manufacturers or marketers. For more information, write Dept. 23-BDH-351, InventHelp, 100 Beecham Drive, Suite 110, Pittsburgh, PA 15205-9801, or call (412) 288-1300 ext. 1368. Learn more about InventHelp’s Invention Submission Services at http://www.InventHelp.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/inventhelp-inventor-develops-new-set-of-audio-accessories-bdh-351-302347421.html

SOURCE InventHelp

Technology

Proper Good, Inc. Successfully Secures New Funding to Fuel Growth

Published

29 minutes ago

January 13, 2025

AUSTIN, Texas, Jan. 13, 2025 /PRNewswire/ — Proper Good, Inc., a leader in ready-to-eat meal solutions, announced today that it successfully secured additional funding in the fourth quarter of 2024 to support the expansion of its 19 affordable meal options, which include oats, soups, and pastas. This milestone underscores the company’s ongoing growth and dedication to providing accessible, ready-made meal choices to a broader audience.

Available in thousands of Walmart locations for under $5 each, Proper Good meals are designed to make healthy and convenient eating accessible to all. The funding round was primarily backed by internal investors and board members, with a strategic focus on driving retail growth and introducing Proper Good to new households in 2025.

“We’re absolutely thrilled to have the incredible backing of our investors as we deepen our retail partnerships,” said Christopher Jane, Co-Founder & CEO of Proper Good. “This support empowers us to bring an even wider variety of delicious, easy meals to Walmart shelves in 2025—making mealtime a breeze for everyone!”

These funds will be strategically deployed to accelerate product development, expand operations, and enhance customer offerings, ensuring Proper Good continues to innovate and lead in the ready-to-eat food space

With a proven track record, innovative solutions, and visionary leadership, Proper Good has garnered significant interest from the investment community. The company remains dedicated to making wholesome, affordable, and convenient meals a staple for households across the nation.

For more information about Proper Good, Inc or to inquire about this offering, please contact:

Media Contact
Jenelle Hamilton PR
Jenelle Hamilton
388645@email4pr.com
+1 646.421.9139

View original content to download multimedia:https://www.prnewswire.com/news-releases/proper-good-inc-successfully-secures-new-funding-to-fuel-growth-302349494.html

SOURCE Proper Good Inc.