Top 20 AI university graduates first Ph.D. cohort

101 graduates boost UAE’s AI ecosystem of research, development and commercial application advances – creating an AI tech hub of the Global South MBZUAI Class of 2024 hat throw moment 240606   MBZUAI Class of 2024 hat throw moment 240606 ABU DHABI, United Arab Emirates, June 07, 2024 (GLOBE NEWSWIRE) — His Highness Sheikh Khaled […]

101 graduates boost UAE’s AI ecosystem of research, development and commercial application advances – creating an AI tech hub of the Global South

MBZUAI Class of 2024 hat throw moment 240606
MBZUAI Class of 2024 hat throw moment 240606

ABU DHABI, United Arab Emirates, June 07, 2024 (GLOBE NEWSWIRE) — His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, attended the Mohamed bin Zayed University of Artificial Intelligence’s (MBZUAI) 2024 commencement ceremony on June 6, celebrating 101 graduates from 22 countries, receiving post-graduate degrees in key AI fields including computer vision (CV), machine learning (ML), and natural language processing (NLP).

The event was also attended by His Excellency Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Founding Chairman of the Board of Trustees of MBZUAI, and other dignitaries.

“Before many other countries recognized its potential, government-led policies encouraged the promotion of AI in the UAE,” Dr. Al Jaber said. “They nurtured the success of companies like G42 and large language models like Falcon. As a result, this small country is creating a world class ecosystem for AI talent and entrepreneurship. We are attracting major investment from tech leaders such as Microsoft and emerging as a significant hub for AI innovation and application.”

Dr. Al Jaber noted that the growth of AI is one of three megatrends shaping the future, alongside the accelerating pace of the energy transition and the rise of emerging markets and Global South: “The Class of 2024’s growing expertise will hold the keys to unlocking solutions to some of the world’s most pressing challenges. In fact, if we are to achieve the ambitious goals of the historic UAE Consensus agreed at COP28 in December in Dubai, AI must play a critical role.”

MBZUAI’s third and largest commencement celebrated the university’s first Ph.D. graduates in ML along with master’s graduates in ML (55), CV (28) and NLP (12) with students hailing from countries including UAE, Canada, United Kingdom, France, India, Vietnam, Pakistan, Ethiopia and Sri Lanka.

MBZUAI President and University Professor, Eric Xing, said: “MBZUAI’s Class of 2024 are the future leaders of technology, innovation, and creativity, they are equipped to accept the responsibility that comes with the stewardship of something so powerful and transformative. They depart us with the knowledge, skills, and a profound understanding of the opportunity before them – the chance to shape a future where AI serves humanity with compassion and unwavering ethical standards – they are ready to tackle the greatest challenges facing our world today.”

Five years since its inception, MBZUAI is now recognized as one of the world’s top 100 computer science universities and is ranked in the top 20 for its specializations in AI, CV, ML, NLP, and robotics (CSRankings).

To apply for admission, visit mbzuai.ac.ae or contact admission@mbzuai.ac.ae. For press inquiries, please contact:

Amy Rogers, MBZUAI’s Senior Communications Specialist
media@mbzuai.ac.ae

Roger Field/Aya Hassan
mbzuai@wallispr.com

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Rovio, SEGA, and Prime Focus Studios Announce The Angry Birds Movie 3 Is In Production At DNEG Animation

Rovio, SEGA, and Prime Focus Studios Announce The Angry Birds Movie 3 Is In Production At DNEG Animation Jason Sudeikis and Josh Gad return to the flock The Angry Birds Movie franchise has so far grossed more than $500m at the worldwide box office LONDON, June 06, 2024 (GLOBE NEWSWIRE) — Rovio Entertainment Corporation, SEGA, […]

Rovio, SEGA, and Prime Focus Studios Announce The Angry Birds Movie 3 Is In Production At DNEG Animation

Rovio Entertainment Corporation, SEGA, and Namit Malhotra’s production company Prime Focus Studios, announced today that they are starting production on The Angry Birds Movie 3, with DNEG Animation attached as animation partner. Prime Focus Studios, Rovio, and SEGA will produce the movie in association with One Cool Group, Flywheel Media, and dentsu.

Jason Sudeikis and Josh Gad return to the flock

The Angry Birds Movie franchise has so far grossed
more than $500m at the worldwide box office

LONDON, June 06, 2024 (GLOBE NEWSWIRE) — Rovio Entertainment Corporation, SEGA, and Namit Malhotra’s production company Prime Focus Studios, announced today that they are starting production on The Angry Birds Movie 3, with DNEG Animation attached as animation partner. Prime Focus Studios, Rovio, and SEGA will produce the movie in association with One Cool Group, Flywheel Media, and dentsu.

The third installment in the franchise will follow the continuing adventures of Red and Chuck, voiced once again by Jason Sudeikis (Ted Lasso, SNL, We’re the Millers) and Josh Gad (Frozen, Beauty and the Beast, Gutenberg!, Murder on the Orient Express). Jason Sudeikis is represented by Brillstein Entertainment Partners and TAG. Josh Gad is represented by Sugar 23, CAA and JSSK. More casting news will be coming soon.

The film follows the success of the first two Angry Birds movies, which together have grossed more than $500m at the worldwide box office and have demonstrated fantastic results on streaming platforms, signalling strong demand for the third theatrical installment.

The Angry Birds Movie 3 will be directed by John Rice (Angry Birds, Beavis and Butt-Head Do The Universe). The screenplay will be written by Thurop Van Orman (Angry Birds 2, Adventure Time, Flapjack), who will also executive produce alongside Toru Nakahara (Sonic the Hedgehog, Sonic Prime, Golden Axe). The film will be produced by John Cohen (Despicable Me, The Garfield Movie, Angry Birds), Dan Chuba (The Mitchells vs. the Machines), and Carla Connor (The Willoughbys).

Returning to the Angry Birds design team is Jeanie Chang as production designer and Francesca Natale as character designer. The head of story is Vadim Bazhanov and the lead editor is Sarah K. Reimers. Storyboards, art development, and animation will be handled by DNEG Animation.

Rovio and SEGA will produce alongside Namit Malhotra and his production company Prime Focus Studios, which recently co-produced The Garfield Movie with Alcon Entertainment. Prime Focus Studios is also currently in production on Animal Friends with Legendary Entertainment and Ryan Reynolds’ Maximum Effort, and Indian epic Ramayana with actor-producer Yash’s Monster Mind Creations.

“The Angry Birds brand knows no bounds, and an all-new Angry Birds adventure underscores how the worlds and narratives crafted in our games can seamlessly transcend into the realm of film and beyond,” said Alexandre Pelletier-Normand, CEO at Rovio Entertainment. “Rovio is fully committed to creating entertainment that sparks imagination across various platforms. We’ve seen continuous success in everything from games and feature films to licensed products and amusement parks, and we are thrilled to return once again to the vibrant Angry Birds world with our new partners.”

“The Angry Birds games are a global phenomenon and the film franchise has enjoyed worldwide success,” added Crosby Clyse, Managing Director of DNEG Animation. “Our amazing DNEG Animation team is thrilled to be teaming up once again with Prime Focus Studios and with our new friends at Rovio to create an all-new high-velocity adventure set in this colourful, crazy world.”

“Innovation is part of dentsu’s DNA and we are always looking for new and exciting projects to deliver differentiated, integrated growth opportunities for our clients. We believe in the positive impact of entertainment, creating meaningful connections between people and brands,” commented Jean Lin, Global President – Global Practices, dentsu. “We are so proud to partner with Prime Focus Studios and DNEG Animation to help bring the next installment of the beloved global Angry Birds franchise to life.”

“The Angry Birds brand truly reflects the size and scale of content Flywheel Media are focusing on,” said Don McGregor, Founder and CEO, Flywheel Media. “We are thrilled to be joining forces with such incredible partners to deliver this film to audiences around the world.”

The Angry Birds Movie opened at #1 in 50 countries on its release in 2016 and has grossed more than $350m at the worldwide box office. Rovio’s mobile games surpassed 5 billion downloads in 2022.

“We are thrilled to announce that the brand-new film of the globally beloved and successful Angry Birds franchise is to be in production,” said Shuji Utsumi, President and COO at SEGA. “SEGA has been focusing on its Transmedia strategy to advance the value of its intellectual properties (IP) across games and diverse media landscapes. We believe that the upcoming The Angry Birds Movie 3 perfectly aligns with our strategy and presents a great opportunity for us to bring the charm of the Angry Birds brand to fans across the globe.”

“I’m delighted to be partnering with Rovio, SEGA, One Cool, Flywheel, dentsu, and the incredible team of returning filmmakers and voice talent on this movie. It’s an honour to be part of the next chapter in the amazing Angry Birds story,” concluded Producer Namit Malhotra. “Prime Focus Studios is in production on an impressive roster of high-profile features and I am excited that The Angry Birds Movie 3 will be the next big animated project on our slate after The Garfield Movie.”

Angry Birds and all related properties, titles, logos, and characters are trademarks of Rovio Entertainment Corporation and are used with permission. All Rights Reserved.

About Prime Focus Studios
Led by filmmaker and Global CEO of DNEG, Namit Malhotra, Prime Focus Studios is an independent production company dedicated to the creation of innovative and exciting global content.

Prime Focus Studios, which recently co-produced The Garfield Movie with Alcon Entertainment for Sony Pictures, is currently in production on three major motion pictures: Indian epic Ramayana with Rocking Star Yash’s Monster Mind Creations; Animal Friends with Legendary Entertainment and Ryan Reynolds’ production company Maximum Effort; and The Angry Birds Movie 3, with Rovio Entertainment Corporation and SEGA.

About Rovio
Rovio Entertainment Corporation is a global mobile-first games company that creates, develops and publishes mobile games, which have been downloaded over 5 billion times. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment, animations, and consumer products in brand licensing. Rovio has produced The Angry Birds Movie (2016), and its sequel, The Angry Birds Movie 2 was released in 2019. The company offers multiple mobile games and has seven game studios – one in Espoo (Finland), Stockholm (Sweden), Copenhagen (Denmark), Barcelona (Spain), Montreal and Toronto (Canada), as well as a subsidiary in Izmir (Turkey) called Ruby Games. Most of the employees are based in Finland, where Rovio is headquartered. Rovio is owned by SEGA.

About DNEG Animation
DNEG Animation is a world-class animation studio that creates captivating stories and compelling characters through beautiful animation. Built on the passion and talents of our team, we help bring unique worlds to life. From complex graphic novel adaptations to beautifully stylized films, we are dedicated to furthering the craft of animation. Recent and upcoming projects on behalf of our filmmaking partners include The Garfield MovieThe Angry Birds Movie 3The Cat In The HatThat ChristmasNimonaUnder the BoardwalkEntergalactic, and Ron’s Gone Wrong.

DNEG Animation is part of DNEG (www.dneg.com), a world-leading visual entertainment services company for the creation of feature film, television, multiplatform content, and immersive experiences, with worldwide offices and studios across North America, Europe, Asia, and Australia.

About One Cool Group
Pioneered and led by Hong Kong actor and producer Louis Koo in 2013, One Cool Group has evolved from a local film production company to a major player in Asia and beyond. One Cool’s motto, “Thrive through Creativity. Strive for Diversity”, unites a fast-growing team of more than 300 film professionals based at its Hong Kong headquarters and affiliated offices in China, Thailand, Malaysia, Singapore, and South Korea. A diversified portfolio encompasses all aspects of filmmaking from financing, artist management, casting, editing, sound effects, visual production, to distribution, promotions, and more. One Cool collaborates in global feature films, partnering with Sony Pictures Animation on Vivo and the Oscar-nominated The Mitchells vs. the Machines, with Alcon Entertainment on The Garfield Movie, and with independent film producers. One Cool is forging ahead with pioneering AI techniques in various aspects of filmmaking.

Find out more:
www.onecool.com

About dentsu
Dentsu is an integrated growth and transformation partner to the world’s leading organizations. Founded in 1901 in Tokyo, Japan, and now present in over 145 countries and regions, it has a proven track record of nurturing and developing innovations, combining the talents of its global network of leadership brands to develop impactful and integrated growth solutions for clients. Dentsu delivers end-to-end experience transformation (EX) by integrating its services across Media, CXM and Creative, while its business transformation (BX) mindset pushes the boundaries of transformation and sustainable growth for brands, people and society.

Dentsu, Innovating to Impact.

Find out more:
www.dentsu.com
www.group.dentsu.com

About Flywheel
Flywheel Media is a new film company collaborating with the world’s largest brands, harnessing their storytelling power to engage new and existing fans.

We create movies for the big screen designed to entertain and inspire audiences globally.

Find out more:
www.flywheelmedia.com

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AMEC Announces New Chair

AMEC Chair Official Handover 2024 LONDON, June 05, 2024 (GLOBE NEWSWIRE) — The International Association for the Measurement and Evaluation of Communication (AMEC) has announced the new incoming Chair of the association. AMEC, the world’s largest media intelligence and insights professional body announced Raina Lazarova, Co-Founder of global media intelligence organisation Ruepoint, will take over […]

AMEC Chair Official Handover 2024

AMEC Chair Official Handover 2024 during the Global Summit on Measurement

LONDON, June 05, 2024 (GLOBE NEWSWIRE) — The International Association for the Measurement and Evaluation of Communication (AMEC) has announced the new incoming Chair of the association.

AMEC, the world’s largest media intelligence and insights professional body announced Raina Lazarova, Co-Founder of global media intelligence organisation Ruepoint, will take over the position for a two-year term commencing June 2024. As Chair, Raina Lazarova will lead the AMEC Board of Directors to continue to deliver on its mission to define, promote and advance best practice in communication measurement and evaluation, research, analysis, evaluation, data and insights in a fast-changing communication landscape.

The official handover took place at the 2024 AMEC Global Summit on Measurement, in Sofia 21-23 May which welcomed over 200 in-person attendees including communicators, public relations professionals, academics and those involved in the research and analytics industry.

Outgoing Chair Aseem Sood, CEO, Impact Research and Measurement Pvt said, After a successful two-year tenure as the AMEC Chair, I am pleased to hand over the reins of leadership to Ms. Raina Lazarova. Her vision and innovative ideas make her the ideal person to guide AMEC into its next chapter of growth and success. I am confident that under her leadership, AMEC will continue to thrive and achieve even greater accomplishments. During the recent board meeting in Sofia, the AMEC Board deliberated and established the key areas of focus and strategic plan for the upcoming two years. I will continue to serve as an engaged member of the AMEC Board of Directors, with a specific focus on spearheading the development of a thought leadership editorial calendar for the board.”

New Chair elect Raina Lazarova said, “It is a great honour to have been elected Chair of AMEC’s board of directors. As a leading industry body, we will continue to promote the benefits of communication measurement and evaluation, while delivering value to our members and the extended communication community. The advent of generative AI has meant that we are in a very interesting time for the communication sector, and AMEC recognises its role in providing both thought leadership and support to the profession in leveraging new technologies.”

AMEC CEO, Johna Burke added, We have International Board Director elections every year which assures members are engaged and represented as we consider the complex and important industry initiatives. It’s only every two years we hold a special election for the Chair role. During this transition, we celebrate Aseem’s leadership and contributions as Chair and welcome Raina who is a champion of the AMEC community. Raina is already working on collaborations allowing AMEC Members to navigate the known and unknown during the next two years as a collective to learn from each other and benefit from the global experience of the broadest ecosystem in the media intelligence industry.”

AMEC represents a global membership community of over 200 organizations including media monitoring and analysis companies, PR and communications agencies, brand owners and market research companies. The association has chapters across four continents – EMEA, Asia Pacific, North America and Latin America.

AMEC strives to support to the global communication industry with free educational resources and best practice guidance on how to plan, measure and evaluate performance to raise standards and promote the value of PR and Communication globally.

It is the founding organisation of the prominently accepted, adopted and applied best practice resources, including the Barcelona Principles (1.0, 2.0 and 3.0) and the globally used Integrated Evaluation Framework (IEF).

For more information about AMEC, please visit https://amecorg.com.

Connect with us

Contact us via AMEC CEO and Global Managing Director, Johna Burke – johna@amecorg.com

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Mediktor Acquires Sensely and Consolidates Its Position as a Leader in AI Healthcare Solutions

BARCELONA, Spain and SAN FRANCISCO, June 05, 2024 (GLOBE NEWSWIRE) — Mediktor, the leading digital healthcare company, has announced the acquisition of Sensely, a San Francisco-based digital healthcare provider that pioneered an empathy-driven conversational platform to support hospital systems and insurance services with world-class member engagement. This consolidation of two world-leading artificial intelligence-driven solutions providers marks […]

BARCELONA, Spain and SAN FRANCISCO, June 05, 2024 (GLOBE NEWSWIRE) — Mediktor, the leading digital healthcare company, has announced the acquisition of Sensely, a San Francisco-based digital healthcare provider that pioneered an empathy-driven conversational platform to support hospital systems and insurance services with world-class member engagement. This consolidation of two world-leading artificial intelligence-driven solutions providers marks a major medical technology milestone, extending Mediktor’s global presence to more than 35 countries and expanding its footprint in the United States.

Adam Odessky and Cristian Pascual

The merger creates one of the largest global providers of AI-based solutions in the healthcare ecosystem. The new organisation will be driven by an enriched conversational healthcare platform to help increase efficiency and reduce costs through its complementary technologies, including the company’s AI medical assistant. According to a recent survey of insurance customers, 54% of patients who used it were satisfied with the medical advice it provided and did not need additional services or follow-up from a physician.

“This acquisition is a transformative step for Mediktor, reinforcing our commitment to digital health innovation. By joining forces with Sensely, we will be able to offer a leading, best-in-class AI solution to multiple companies, ultimately improving access to healthcare for millions of people,” said Cristian Pascual, Chief Executive Officer of Mediktor.

As a result of the integration, Mediktor will acquire Mayo Clinic’s educational healthcare content developed under a pre-existing agreement with Sensely. Mayo Clinic will also become a shareholder in the combined company and will have an observer seat on the board of directors.

MTIP, a leading Swiss-based growth equity firm and long-time partner of Mediktor, has reaffirmed its confidence in the company’s vision and direction. As a member of Mediktor’s Board of Directors, MTIP has communicated its unwavering financial and strategic support for the company’s acquisition of Sensely and its overall growth strategy.

At the same time, Aliath Bioventures, a venture capital firm that has been supporting Mediktor since 2018, also played a significant role in facilitating this acquisition. Aliath remains deeply committed to supporting Mediktor’s strategic growth, strengthening its market leadership, and long-term success.

“Mediktor and Sensely represent the perfect synergy between AI-based symptom assessment and empathy-driven, patient-centric virtual assistance,” said Adam Odessky, co-founder and CEO of Sensely. “The combination of these two organisations provides customers with a strong, comprehensive suite of technology services that are proven to increase efficiency and reduce overhead costs for institutions, while delivering unparalleled personalised engagement services to patients and plan members. We’re excited to share Mediktor’s vision of becoming a leading player in an evolving and competitive digital healthcare environment.

Mediktor plans to integrate Sensely’s current staff and management team into the new organisation, with Mr. Odessky taking on the role of Chief Product Officer, bringing his extensive experience and leadership to the team.

About Mediktor

Mediktor is the most advanced AI-based medical chatbot for triage and pre-diagnosis, guiding patients to the right level of care at the right time – improving access while enabling more efficient care navigation. Powered by a sophisticated AI engine that allows users to converse naturally in multiple languages, Mediktor’s white-labelled SaaS is omnichannel and can be easily embedded into any interface (web, mobile, desktop). Mediktor’s customers include health plans, hospitals and health systems, telemedicine and pharmaceutical companies. For further information please visit www.mediktor.com.

About Sensely

Sensely is a leading innovator of avatar- and chatbot-based platforms designed to assist insurance plan members and patients with insurance services and healthcare resources whenever they need them. With offices in San Francisco and London, Sensely’s global teams provide virtual assistant solutions to a range of diverse healthcare sectors, including insurance companies, hospital systems and pharmaceutical clients worldwide. For more information, please visit www.sensely.com.

About MTIP
MTIP is a Swiss-based growth equity firm investing in European healthtech companies that aim to revolutionise global healthcare. The team leverages deep sector expertise to help scale up successful and sustainable healthtech businesses. For more information, visit www.mtip.ch.

About Aliath Bioventures
Aliath Bioventures, formerly known as Alta Life Sciences, is a life sciences venture capital firm part of the AltamarCAM group. Aliath aims to provide solutions to the most pressing healthcare challenges by targeting therapeutics and HealthTech companies built on innovative and disruptive trends. For more information visit https://www.aliathbio.com/.

Media Relations Contact
David Patti
Telephone: +1 908.421.5971
Email: dspcommsconsulting@gmail.com
www.mediktor.com

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eXp Realty Enhances International Connections with Global Agent Referral Platform

Platform offers agents improved networking and business connections on a worldwide scale eXp Realty Enhances International Connections with Global Agent Referral Platform BELLINGHAM, Wash., June 05, 2024 (GLOBE NEWSWIRE) — eXp Realty®, the largest real estate brokerage on the planet and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), is proud to announce […]

Platform offers agents improved networking and business connections on a worldwide scale

eXp Realty Enhances International Connections with Global Agent Referral Platform

Platform offers agents improved networking and business connections on a worldwide scale

BELLINGHAM, Wash., June 05, 2024 (GLOBE NEWSWIRE) — eXp Realty®, the largest real estate brokerage on the planet and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), is proud to announce the launch of its Global Agent Referral Platform, designed to simplify and accelerate the real estate referral process. This innovative tool empowers its agents worldwide to effortlessly connect and collaborate, contributing to a robust and interconnected global marketplace

With a user-friendly platform and seamless search functionality, eXp’s Global Agent Referral Platform streamlines the entire process, reducing referral times to a matter of seconds. eXp Realty agents can complete a simple form, select a preferred referral partner from anywhere in the world, and electronically sign the agreement — all within one centralized location.

“At eXp, we understand that potential buyers are just as easily found in a seller’s hometown as they are in another country,” said Leo Pareja, CEO, eXp Realty. “With the launch of the Global Agent Referral Network, we are leveraging the depth and power of our worldwide network of more than 85,000 agents across 24 countries and revolutionizing how agents connect and collaborate, paving the way for smoother transactions and enhanced client experiences. We remain focused on building industry-leading resources by providing agents unparalleled access to advanced tools for expanding their businesses globally.”

The introduction of the Global Agent Referral Platform underscores eXp Realty’s commitment to fostering global innovation and growth. This cutting-edge tool not only enhances the efficiency of referral processes but also opens new avenues for agents to expand their reach and tap into international markets. By fostering a more interconnected global network, eXp Realty is setting a new standard in the real estate industry, ensuring that its agents are well-equipped to meet the diverse needs of clients around the world.

In addition to its technological advancements, eXp Realty continues to prioritize agent education and support. The company regularly offers training sessions and resources to help agents maximize the potential of the Global Agent Referral Platform. This holistic approach ensures that eXp agents are not only connected but also proficient in using the latest tools to deliver exceptional service to their clients.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, FrameVR.io and SUCCESS® Enterprises.

eXp Realty is the largest independent real estate company in the world with more than 85,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand, Chile, Poland and Dubai and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by FrameVR.io, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

For more information, visit https://expworldholdings.com.

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. These statements include, but are not limited to, expectations related to referral and incentive programs. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include the Company’s ability to implement its strategic initiatives and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.

Media Relations Contact:

eXp World Holdings, Inc.
mediarelations@expworldholdings.com

Investor Relations Contact:

Denise Garcia
investors@expworldholdings.com

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Surge in Foreign Interest in Chinese Investments: EBC Financial Group (UK) Ltd CEO David Barrett Shares Insights with Yi Cai

David Barrett, CEO of EBC Financial Group (UK) Ltd, as one of the speakers on Yi Cai’s Chief Strategy Forum on Chinese investment opportunities David Barrett, CEO of EBC Financial Group (UK) Ltd, shares insights with Yi Cai on the surge in foreign interest in Chinese investments. He explores the factors driving major investors to […]

David Barrett, CEO of EBC Financial Group (UK) Ltd, as one of the speakers on Yi Cai’s Chief Strategy Forum on Chinese investment opportunities
David Barrett, CEO of EBC Financial Group (UK) Ltd, shares insights with Yi Cai on the surge in foreign interest in Chinese investments. He explores the factors driving major investors to Chinese markets and offers his outlook on their future growth.

LONDON, June 05, 2024 (GLOBE NEWSWIRE) — David Barrett, CEO of EBC Financial Group (UK) Ltd, recently shared his insights on the burgeoning interest in Chinese investments during an in-depth interview with Yi Cai. Barrett explored the factors driving major investors toward Chinese markets and offered his outlook on the future of these investments.

David Barrett, CEO of EBC Financial Group (UK) Ltd, as one of the speakers on Yi Cai's Chief Strategy Forum on Chinese investment opportunities

Surge in Foreign Interest

In recent months, there has been a notable increase in foreign interest in Chinese stocks, driven by high-profile investors. Michael Burry, well-known for his predictions during ‘The Big Short,’ has significantly raised his investments in JD.com and Alibaba. Similarly, David Tepper’s hedge fund has heavily invested in technology and Chinese markets. This growing interest is reflected in the performance of the Nasdaq Golden Dragon China Index, which surged by 14.86% from April 22 to May 3, achieving its largest two-week gain since January 2023. On May 16, the Index closed up by 2.49%, marking its highest level since September 2023.

Barrett attributes this renewed interest to the relative value Chinese markets offer. “Chinese indexes have struggled since the property-led bust in 2021, causing a significant dip in foreign direct investment and domestic confidence. However, this has led to extreme pricing discrepancies, making Chinese stocks an attractive option for value-focused investors,” Barrett explained. “Investors like Burry and Tepper are known for their strategic focus on high-concentration portfolios, and their significant investments in Chinese companies signal strong confidence in the potential upside of these markets.”

Future Prospects of Chinese Investments

Looking ahead, Barrett remains optimistic about the continued growth of Chinese markets. “There are several indicators suggesting that the Chinese government is taking effective measures to stimulate economic growth and restore market confidence,” Barrett noted. “Efforts to support vulnerable areas of the economy, encourage domestic investments, and stabilize the financial landscape are beginning to show positive results.”

He emphasized the crucial role of domestic policy in sustaining this growth. “Policies aimed at reducing property-related risks, supporting the semiconductor industry, and encouraging state-owned enterprises to strengthen their financial positions are essential. Additionally, initiatives to increase dividend payouts among Chinese companies are likely to attract more foreign investors seeking yield in a higher interest rate environment.”

Promising Sectors and Global Asset Allocation

Barrett highlighted the technology sector as a key area for investment within the A-share and Hong Kong stock markets. “Chinese tech companies are at the forefront of innovation, and with substantial government backing, they are well-positioned to navigate global challenges,” Barrett asserted. “For instance, if China faces headwinds in purchasing semiconductors, they have the capability to develop their own. Given the impressive profit margins seen in companies like NVIDIA, there is a strong incentive for Chinese firms to produce competitive, lower-cost chips. With significant government support and investment, the resilience and growth potential in this sector are considerable.”

He also identified the electric vehicle (EV) industry as a promising sector. “EVs as a topic has been grabbing a lot of column inches of late,” Barrett observed. “However, it’s uncertain how well Western brands will perform in mainland China, and vice versa, how Chinese brands will fare in the global market. Despite these challenges, Chinese tech remains on the cutting edge, and any progress, especially amid geopolitical tensions, will likely bolster domestic investment. This increased focus on local innovation and development will enhance the industry’s growth prospects.”

From a global perspective, Barrett advises a diversified asset allocation strategy, cautioning against overreliance on US stocks. “While US markets have experienced substantial growth, it is crucial to consider opportunities elsewhere, such as in China, where valuations are compelling,” he explained. “Given the recent run-up in US stocks, there is a need to be cautious and diversify. Commodities like gold remain attractive as a store of value and a hedge against economic and geopolitical uncertainties. As central banks continue to manage liquidity and interest rates, maintaining a balanced portfolio that includes undervalued international assets and tangible commodities could provide stability and growth potential.”

About EBC Financial Group
Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. With offices strategically located in prominent financial centres, such as London, Sydney, Hong Kong, Tokyo, Singapore, the Cayman Islands, Bangkok, Limassol, and more, EBC caters to a diverse clientele of retail, professional, and institutional investors worldwide.

Recognised by multiple awards, EBC prides itself on adhering to the highest levels of ethical standards and international regulation. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA), EBC Financial Group (Australia) Pty Ltd is regulated by Australia’s Securities and Investments Commission (ASIC), and EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA).

At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.

https://www.ebc.com/

Media Contact:
Douglas Chew
Global Public Relations Manager
douglas.chew@ebc.com

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