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Citibank Announces 2023 Citi Tax Season Loan Annualized Percentage Rate as low as 1.78% [1]

HONG KONG SAR – Media OutReach – 9 November 2023 – Citibank announces the launch of 2023 Citi Tax Season Loan, available for same day approval and same day loan disbursement [2]. Selected customers can enjoy Annualized Percentage Rate (“APR”) as low as 1.78% [1]. Upon successful application of 2023 Citi Tax Season Loan during promotion period, customers can enjoy up to HK$8,000 cash coupon reward [3].

Features of Citi Tax Season Loan

  • Same day approval and same day loan disbursement [2]
  • APR as low as 1.78% [1]
  • Loan amount up to HK$3,500,000 or 12 times of monthly salary, whichever is lower
  • Repayment term up to 60 months [4]
  • Enjoy up to HK8,000 cash coupon reward [3]
  • HK$0 handling fee

Eligible customers [5] who successfully apply for the Citi Tax Season Loan from today to December 31, 2023 and drawdown a specific loan amount with a repayment term of 12 months or above on or before January 14, 2024 can enjoy up to HK$8,000 cash coupon reward [3]. The higher the loan amount, the more cash coupon rewards there will be. Please refer to the table below for details:

Loan Amount (HK$) Repayment Term Cash Coupon Reward (HK$)
Citigold Private Client (CPC)/ Citigold / Citi ULTIMA cardholders [6] Other customers
$1,500,000
or above
24 months above $8,000 $4,000
12 to 24 months $4,000 $2,000
$800,000
to $1,499,999
24 months above $4,000 $2,500
12 to 24 months $2,500 $1,500
$400,000
to $799,999
24 months above $2,000 $1,500
12 to 24 months $1,500 $1,000
$100,000
to $399,999
24 months above $700 $600
12 to 24 months $500 $400

Terms and conditions of Citi Tax Season Loan apply. Please visit www.citibank.com.hk/taxloan , Citi Mobile® App, Citibank branches or call 2963 6413 to apply.

In additional to the tax loan offer, Citibank also launches Pay tax and get up to HK$500 Spending Rebate Promotion. Customers can enjoy up to HK$500 rebate by paying tax through Citi PayAll or Citi Online Banking with designated Citi Credit Cards [7] to reach designated tax payment amount [8] and accumulating retail spending of HK$3,000[9] from November 1, 2023 to February 29, 2024.

Accumulated tax payment amount
via Citi PayAll or Citi Online Banking (HK$)
Rebate entitled (HK$)
$50,001 – $100,000 $100
$100,001 – $200,000 $250
> $200,000 $500

‘Pay tax and get up to HK$500 Spending Rebate Promotion’ is subject to relevant terms and conditions. For details and registration, please visit: citibank.hk/pay-tax23.

To borrow or not to borrow? Borrow only if you can repay!

Terms and conditions:

[1] The Annualized Percentage Rate (“APR”) of as low as 1.78% is calculated based on the monthly flat rate 0.080% with loan amount of HK$1,500,000 and repayment tenor of 12 months. APR is calculated based on the guidelines as set out in the Code of Banking Practice and rounded up to the nearest two decimal places. Interest is calculated on the basis of 365 days per year. The actual APR applicable may differ, which is to be considered on a case-by-case basis in accordance with customer’s profile. An APR is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualized rate.

[2] Same day approval and same day loan disbursement is only applicable to selected customers who successfully submit the required documents together with a filled in application form before 10am of that working day (Monday to Friday). Actual approval and loan disbursement time may differ based on the information provided.

[3] A cash coupon redemption letter (if applicable) will be mailed to the Eligible Customers’ Hong Kong correspondence address according to The Bank’s record on or before March 31, 2024.Only applicable to customers who do not hold any Personal Loan account offered by Citibank (Hong Kong) Limited at the time of application.

[4] Citi Tax Season Loan’s repayment term is from 6 to 60 months.

[5] Citibank Personal Loan account of Eligible Customers must be valid and in good condition without any late payment or early repayment, otherwise The Bank reserves the right to forfeit the eligibility of an Eligible Customer to participate in this promotion and the Eligible Customer shall immediately repay to The Bank full amount of Reward under this promotion.

[6] The Offer for Citigold Private Client/ Citigold Client or Citi ULTIMA cardholder is only applicable to the applicant who fulfill the following requirement from the date of application to the issue date of redemption letter (both dates inclusive):

– Citigold Private Client should maintain the account balance at HK$8,000,000 or above, Citigold Client should maintain the account balance at HK$1,500,000 or above and Citi ULTIMA cardholder needs to hold the Citi ULTIMA card.

[7] Designated Citi Credit Cards include Citi Prestige Card, Citi PremierMiles Card, Citi Cash Back Card, Citi The Club Credit Card, Citi Rewards Card, Citi Rewards UnionPay Card, Citi HKTVmall Card, Citi Octopus Card, Citi Plus® Credit Card and Citi Clear Card. Citi PayAll is not applicable to Citi Rewards UnionPay Card.

[8] This Promotion is only applicable to the Eligible Retail Transactions and the payment of Salaries Tax for the 2022/2023 tax year made with any Eligible Card accounts during the Promotion Period (“Tax Payment”). Payments for Tax Reserve Certificates, Business Registration or Stamp Duty are not applicable.

[9] For definitions of Eligible Retail Transactions and Ineligible retail transactions, please refer to citibank.hk/pay-tax23

[10] In the event of discrepancy or inconsistency between this English version of the terms and conditions and the Chinese version, the English version shall prevail.

Hashtag: #花旗銀行

The issuer is solely responsible for the content of this announcement.

Moomoo Singapore is Best Retail Broker in Singapore

  • Receives Best Retail Broker award at SIAS Investors’ Choice Awards Dinner
  • Finalist for the Singapore Fintech Festival Global Fintech Awards

SINGAPORE – Media OutReach – 9 November 2023 – Moomoo Financial Singapore Pte. Ltd. (“Moomoo Singapore”) is pleased to be named the Best Retail Broker in Singapore by the Securities Investors Association (Singapore)(“SIAS”) .

Caption

Mr Gavin Chia, CEO of Moomoo Singapore, received the award from Guest of Honour, Ms. Grace Fu, Minister for Sustainability and the Environment, at the SIAS Investors’ Choice Awards Dinner on Wednesday, 8 November 2023.

Moomoo Singapore was selected as the winner following research commissioned by SIAS and conducted by Singapore Management University and global financial services market research firm Investment Trends.

“We are delighted to be named the Best Retail Broker in Singapore. This award is testament to our hard work in delivering the best investment platform and investing experience for our clients,” Chia said.

“Our user base now stands at more than 800,000 strong, or 1 in 4 Singapore residents. But we are not resting on our laurels. We will continue to work hard to serve you well,” he added.

Finalist for the Singapore Fintech Festival Global Fintech Awards

In addition, Moomoo Singapore has been named as a finalist in the Thematic Artificial Intelligence category for the Singapore Fintech Festival (SFF) Global Fintech Awards 2023.

Organised by the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA), the prestigious Awards seek to recognise innovative Fintech solutions by corporates and individuals that have been instrumental in transforming Fintech industry practices and spearheading the use of new technologies in creating new growth opportunities, promoting financial inclusion and enhancing the delivery of financial services.

“We are proud to be a finalist for the SFF Global Fintech Awards. As a digitalized investment platform, technology is at the core of everything we do. We firmly believe in the power of technology to transform the investment landscape and empower our users to achieve financial resilience,” Chia said.

“Our easy-to-use tech features are designed to help the everyday investor trade and make more informed investment decisions. We will continue to enhance and add new features to help our users navigate what can be a difficult investment journey,” he added.

Tech as our DNA

As a next-generation digital brokerage, Moomoo Singapore recognises the importance of providing retail investors with access to the same information that was once only available to high net-worth individuals and institutional investors.

Today, moomoo offers a whole range of tech features on its platform. They include:

  1. Industry Chain – Helps investors gain an intuitive and comprehensive understanding of upstream and downstream industries by mapping the industrial chains of HK stocks, US stocks, and A-shares with its knowledge mapping algorithm.
  2. Institutional Tracker – Investors can see their favourite institutions such as Berkshire, Soros, or Ark Investment, as well as the stocks that these institutions are holding. This allows them to mimic the movements of the trading strategies of these institutions.
  3. Advanced Stock Screener – Contains more than 100 advanced stock screening indicators, making it the most comprehensive stock screener on the market with low latency and real-time calculations.
  4. Patented charting tools – With 38 drawing tools and more than 60 technical indicators, as well as real-time data, users can draw lines and shapes on charts, facilitating price movement analysis, pattern recognition, and identification of potential market opportunities from the convenience of their mobile devices — anytime and anywhere.

“Our objective is to empower the everyday man and woman with the necessary tools and resources to attain financial independence. By disrupting the traditional investment industry with high-end technology and offering retail investors accessibility, Moomoo Singapore is bridging the gap between investors, companies and institutions,” added Mr Chia.

Hashtag: #MoomooSingapore

The issuer is solely responsible for the content of this announcement.

About Moomoo Financial Singapore

Moomoo Financial Singapore Pte. Ltd. (“Moomoo Singapore”) is an advanced financial technology company transforming the investing experience by offering a digitalised brokerage and wealth management platform – Moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds an unique digitalised investment community to connect all users, investors, companies, analysts, media and key opinion leaders.

In Singapore, Moomoo Financial Singapore Pte. Ltd. (www.moomoo.com/sg) offers investment products for trading via the Moomoo platform, and it is a capital markets services licence holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000). In June 2022, Moomoo

Respond.io Clinches Malaysia’s Leading AI Driven Omnichannel Marketing Award

KUALA LUMPUR, MALAYSIA – Media OutReach – 9 November 2023 – Respond.io, a pioneering customer conversation management software, won the Malaysia’s Leading AI Driven Omnichannel Marketing award during the Malaysian Digital Expo (MDX) 2023 Awards Night. This award reflects respond.io‘s leadership in using artificial intelligence to deliver cutting-edge solutions that enhance customer experiences and drive omnichannel marketing results.

Respond.io CEO, Gerardo Salandra, accepts Malaysia’s Leading AI Driven Omnichannel Marketing Award at the MDX Award Night 2023
Respond.io CEO, Gerardo Salandra, accepts Malaysia’s Leading AI Driven Omnichannel Marketing Award at the MDX Award Night 2023

This was one of 37 tech-related awards presented by the Malaysian Digital Economy Corporation (MDEC) during the MDX Awards Night, recognizing industry leaders for their exceptional growth, innovation and contributions to Malaysia’s digital economy.

Respond.io has made great strides to further the Malaysian digital economy, especially in AI technologies, and push the boundaries of customer engagement. This award is a significant milestone in our pursuit of a future where every digital interaction is transformed into a meaningful conversation. It fuels our drive to continue pioneering AI in this category, serving as a catalyst for the company’s future endeavors,” remarked respond.io CEO Gerardo Salandra.

MDX 2023, organized by MDEC, is a six-week-long series of technology events in Malaysia from September 25 to November 8, 2023. It is a platform to showcase the best and most innovative companies in Malaysia to the world.

By highlighting the sophistication of the country’s tech ecosystem, the expo acts as the gateway for companies looking to place a foothold in or expand into Southeast Asia and beyond.

The expo culminated in a three-day grand finale from November 6 to 8, 2023, comprising conferences, exhibitions and business matching sessions. It concluded with the MDX Awards Night and gala dinner, celebrating and advancing Malaysia’s digital aspirations.

The ceremony was attended by key figures from Malaysia’s tech industry and high-ranking government officials, including the Minister of Communications and Digital, Fahmi Fadzil, and the CEO of MDEC, Mahadhir Aziz.
Hashtag: #respondio #MDEC #AIsolution #MDXaward




The issuer is solely responsible for the content of this announcement.

About respond.io

is an AI-powered customer conversation management software that enables teams of all sizes to respond to messages on any channel from a centralized dashboard. Its advanced chat automation, flexible integrations and comprehensive reporting facilitate efficient operations and great customer experiences at scale. The platform is trusted by over 10,000 brands across 86 countries, including British Airways, Toyota, Decathlon, Roche and Klook.

In 2022, raised $7 million in Series A funding, led by Headline Asia, and achieved the prestigious status of a WhatsApp Business Solution Provider (BSP) in April 2023. From its headquarters in Malaysia, continues to innovate and advance the future of customer conversations.

MariBank rewards Shopee Shoppers with 30% Shopee Cashback vouchers this shopping season

SINGAPORE – Media OutReach – 9 November 2023 – MariBank, a digital bank licensed by the Monetary Authority of Singapore and wholly owned by Sea Limited, has introduced a new payment method on Shopee, which allows customers to enjoy a seamless and secure direct checkout process on Shopee with Mari Savings Account.

In celebration of this launch, MariBank is offering up to 30% Cashback vouchers1 to Shopee buyers this shopping season when they pay with Mari Savings Account.

Seamless integration with the Shopee ecosystem

This feature makes shopping on Shopee even better by simplifying the payment process. With just a tap of a button, shoppers can easily pay for their purchases through funds that will be deducted directly from their Mari Savings Account.

Shopee users can also easily top up their ShopeePay wallets via the Shopee or MariBank app without having to switch apps or whip out their cards.

Shopee Checkout with Mari Savings Account:

image_1.png


MariBank ShopeePay Top Up:

image_2.png

To do so, users will only need to open a Mari Savings Account with MariBank and do a one-time link of their MariBank and Shopee accounts.

In the months to come, Shopee users can expect to see more integrated services with MariBank, further value-adding to their shopping experience.

Exclusive Cashback vouchers for the shopping season

Just in time for the November shopping season, MariBank users can get up to 30% Shopee Cashback vouchers1 between 11 – 13 Nov 2023.

Shoppers just need to claim the vouchers on the Shopee app and pay with Mari Savings Account to enjoy the Cashback voucher.

Mari Savings Account is MariBank’s flagship savings account offering 2.88% p.a. interest2 with no conditions required. Account holders can deposit up to S$75,000 in the savings account and earn interest credited daily.

For more information on the promotion, download the MariBank app from official app stores or visit https://shopee.sg/m/MariSavings.

Disclaimer

130% cashback vouchers are applicable with a min spend of S$20, capped at 3000 Shopee coins and are subjected to Shopee voucher terms and conditions.

2Rates are accurate as at the point of publishing. All rates are for information only and subject to change without prior notice. Promotional interest rate of 2.88% p.a. is effective till 31 December 2023. Prevailing base rate of 2.50% p.a. shall apply thereafter. Mari Savings Account has a maximum deposit capped at S$75k. T&Cs Apply.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Hashtag: #MariBank #Shopee #ShopeePay #ecommerce #banking

The issuer is solely responsible for the content of this announcement.

MariBank

MariBank is a digital bank wholly owned by Sea Limited and licensed by the Monetary Authority of Singapore (MAS). MariBank aims to support the banking needs of digital natives and small businesses in Singapore, through the provision of simple and purpose-built banking products.

Up Your Home Security Game with Exciting Promotions on Arlo This 11.11

SINGAPORE – Media OutReach – 9 November 2023 – With 11.11 just around the corner, Kaira – Arlo’s official distributor in Singapore – is joining in the shopping fun with attractive offers across Arlo’s home security solution portfolio. From the best-in-class Arlo Ultra 2 4K Security Camera to the newly released Arlo Pro 5S 2K Spotlight Camera – there’s no shortage of options for you to choose just the right security solution for your home.

Arlo Ultra 2 4K Security Camera

The Arlo Ultra 2 4K Security Camera is Arlo’s most advanced security camera, offering best-in-class features along with an enhanced user experience and added flexibility. It comes with cutting-edge 4K video capabilities with HDR, an ultra-wide 180-degree field of view and enhanced colour night vision to give you a crystal-clear view of your property day or night. The Arlo Ultra 2 4K Security Camera can be placed anywhere that needs the biggest, best view, be it indoor or outdoor, thanks to its award-winning wire-free design, a long-lasting 6-month rechargeable battery, and weather resistance.

Arlo Ultra 2 4K Security Camera: SGD389 (RP: SGD399) on Shopee and Lazada
Arlo Ultra 2 4K Security Camera – 2-camera bundle: SGD769 (RP: SGD799) on Shopee and Lazada

Arlo Pro 5S 2K Security Camera

Looking for a capable camera that can provide both outdoor and indoor surveillance? The newly-released Arlo Pro 5S 2K Spotlight Camera is the perfect option for you! Featuring cutting-edge capabilities such as 2K HDR video quality, a 160-degree field of view, an integrated spotlight with colour night vision and two-way audio, this versatile security camera will give you absolute peace of mind wherever you are. A successor of the award-winning Arlo Pro 4, the Pro 5S takes it to the next level with dual-band Wi-Fi support with 2.4Ghz and 5Ghz connections, and up to 30% longer battery life.

Arlo Pro 5S 2K Security Camera – 2-camera bundle: SGD569 (RP: SGD599) on Shopee and Lazada

Promotions are also available at Challenger and Harvey Norman from 11.11 until the end of November.

For more information on Arlo products, please visit https://kaira.arlostore.sg/.
Hashtag: #Arlo

The issuer is solely responsible for the content of this announcement.

About Arlo Technologies, Inc.

Arlo is the award-winning, industry leader that is transforming the way people experience the connected lifestyle. Arlo’s deep expertise in product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience for Arlo users that is easy to setup and interact with every day. The company’s cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. To date, Arlo has launched several categories of award-winning smart connected devices, including wire-free smart Wi-Fi and 4G LTE-enabled security cameras, audio and video doorbells, and floodlight.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to supporting industry standards for data protection designed to keep users’ personal information private and in their control. Arlo doesn’t monetize personal data, provides enhanced controls for useraimeephan data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

Amazon Singapore Brings Holiday Joy to the City with Amazon.sg Holiday Market from 20 November

Free public event to feature Black Friday holiday gifting deals and inspiration, holiday-themed activities including a skating rink.

SINGAPORE – Media OutReach – 9 November 2023 – (NASDAQ: AMZN) – In celebration of Black Friday and the upcoming holiday season, Amazon Singapore will spread the joy with a special Holiday Market event taking place from 20 to 24 November at Suntec City Level 1, outside H&M. At the Amazon.sg Holiday Market, visitors can experience the festive vibes and find inspiration for their holiday shopping with their loved ones. With Instagram-worthy displays across four showcase zones, guests can discover an incredible array of authentic products and exciting deals which Amazon Singapore will offer during its Black Friday sales from 20 to 27 November.

Amazon.sg holiday market banner 1 .jpg

The Amazon.sg Holiday Market event is free for all members of the public, who simply need to flash their Amazon.sg App at the entrance to enter.

Date: 20 to 24 November 2023 (Mon-Fri)
Time: 2pm – 10pm (*Last entry at 9pm)
Venue: Suntec City Level 1, outside H&M (Esplanade MRT Exit A)

Enjoy holiday-themed gifts and activities including a skating rink

Amazon.sg holiday market event collage.jpg

A special feature of the Amazon.sg Holiday Market is the unique Amazon.sg skating rink, which will allow visitors to skate around the “ice” rink for a limited time. Visitors simply need to complete their activity card at the event to participate, with skating socks and shoes provided.

The event will also feature interactive activities such as a holiday window-shopping game, whereby visitors will be challenged to scan the prices of items on display to hit a value of $500.

There will also be treasure hunt and word-based challenges, such as looking for hidden mistletoes with letters around the market to figure out what it spells, and counting the number of times the Amazon.sg logo appears on the display screen.

After completing the activities, guests will receive a special holiday gift from Amazon Singapore, which includes limited edition holiday-themed swags as well as snacks from Amazon Fresh.

Get Ready for the Holiday

The Amazon.sg Holiday Market event coincides with Amazon Singapore’s week-long Black Friday sale event from 20 to 27 November, featuring thousands of amazing deals, with deep discounts on top products from local and international brands available at amazon.sg/blackfriday.

While shopping on Amazon.sg for holiday gifts or everyday essentials, customers can directly champion causes they care about by browsing through wishlists curated with essential needs from 16 NPOs in Singapore through the Amazon x Shop for Good wishlist initiative.

Learn how to best prepare for Black Friday to maximise your savings:

  • Join Prime: New customers can enjoy a 30-day free trial when they register for Prime membership. For S$2.99 a month, Prime membership includes free one-day delivery on domestic Prime eligible items fulfilled by Amazon SG on Amazon.sg and access to millions of products on Amazon International Store on Amazon.sg with free international delivery with no minimum spending. Prime members can also enjoy unlimited access to award-winning movies and TV episodes with Prime Video, unlimited access to video game benefits with Prime Gaming, access to epic deals on Prime Day, free delivery on selected delivery windows for orders of S$150 and above on Amazon Fresh, free 2-hour scheduled delivery for orders of S$60 and above on Watsons and Little Farms on Amazon.sg, and more.
  • Set up personalized deal alerts: Prime members can subscribe to receive deal alert notifications related to their recent Amazon searches and recently viewed items. All they have to do is visit the Black Friday event page on the Amazon app between now and Black Friday to create deal alerts. Once Black Friday arrives, members will receive push notifications on any available deals.

Shop with Confidence
Amazon works hard to provide customers with a great and safe shopping experience. Amazon has zero tolerance for fraud of any kind and invests significant resources to protect its store and customers from bad actors, such as scammers who pretend to be a company like Amazon and reach out to try to get access to sensitive information. Customers can shop with peace of mind knowing Amazon stands behind the products sold in our stores, whether it is sold by Amazon or an independent small business, where we ensure that customers are covered with the A-to-Z Guarantee. This protection applies to products purchased in our stores worldwide. In the unlikely event that customers experience issues with timely delivery or condition of their purchase, we will, where the customer is eligible, make it right by refunding or replacing it. Learn more at amazon.sg/help and our A-to-Z Guarantee help page.

Every Day Made Better with Amazon Prime
Amazon Prime was designed to make your life better every single day. Over 200 million paid members around the world enjoy the many benefits of Prime, including the best of shopping and entertainment. In Singapore, Prime membership includes unlimited access to award-winning movies and TV episodes with Prime Video, unlimited access to video game benefits with Prime Gaming, Prime Day, and more. Prime was built on the foundation of unlimited fast, free shipping. Prime members enjoy access to free one-day delivery on domestic Prime eligible selection on Amazon.sg, free delivery on selected delivery windows for orders of S$150 and above on Amazon Fresh, free 2-hour scheduled delivery for orders of S$60 and above on Watsons and Little Farms on Amazon.sg, as well as early access to deals and exclusive deals. Prime is S$2.99 per month. Start a 30-day free trial of Prime at Amazon.sg/prime.

Hashtag: #Amazonsg #BlackFriday #AmazonsgHolidayMarket


The issuer is solely responsible for the content of this announcement.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, personalized recommendations, Prime, Fulfillment by Amazon, AWS, and Kindle are some of the products and services pioneered by Amazon. For more information, visit .

Fossil Fuel Interests Have Large, Yet Often Murky, Presence at Climate Talks, AP Analysis Finds

Coal-fired power plant Uniper Scholven and a nearby BP refinery shine in the evening behind illuminated appartments in Gelsenkirchen, Germany, 2 October. (AP Photo/Martin Meissner, File)

The badges said they were there to participate in negotiations to curb climate change. But in reality, the livelihoods of these participants were more aligned with what’s keeping the problem going: fossil fuels.

Close to 400 people connected in some way or another to fossil fuel industries attended last year’s United Nations climate talks in Egypt, a grouping that was larger than all but two of the national delegations sent by countries, according to a data analysis of the more than 24,000 participants by The Associated Press.

As United Nations leadersscientists and others called for an eventual elimination of coal, oil and natural gas, various delegations included attendees who in some way owed part or all of their paychecks to fossil fuel burning. Many of these same people, and possibly even more connected to fossil fuels, will likely be at this year’s official climate talks, known as Conference of Parties or COP, being hosted by the United Arab Emirates, a major oil producing country.

“There’s outsized influence,” said Center for Biological Diversity’s Jean Su, who sits on the board that represents civil society and environmental groups at these meetings. “These COPs are often wining-and-dining fests for fossil fuel corporations that want to profit off of climate.”

While the presence is palpable—such as oil countries and companies with huge, flashy stands in the trades pavilions—the influence is hard to quantify because much of the negotiating is done behind closed doors.

These annual meetings, which have occurred since 1995, convene in different cities each year. The host city runs the event and sets the agenda. Because the upcoming summit, COP28, is in Dubai, the United Arab Emirates got to choose the president, picking the CEO of its national oil company, Sultan al-Jaber.

As to be expected at a summit focused on the environment, there are many environmental activists, more than 750 last year, by AP’s count. But they say their voices are not being heard, and instead the lobbying of fossil fuel interests are why climate talks have yet to produce an agreement to phase out coal, oil and natural gas, as scientists have repeatedly said must happen to stave off the worst impacts of climate change, like extreme weather events.

“People all over the world are suffering and dying from the consequences of the climate crisis caused by these industries who we allow to meet with our politicians and have privileged access to,” climate activist Greta Thunberg said in an October protest in London. “We cannot trust these politicians, and we cannot trust the processes of the COPs because the fossil fuel industries are tightening their grip around their processes and dictating their outcomes.”

Wide Range of Affiliations

The AP analyzed the affiliations of attendees of COP27, reviewing details they offered on their badges. Those details were checked against lists of operators and owners of coal mines, oil fields and natural gas plants, as well as manufacturers of carbon-intensive materials like steel and cement.

Attendees in 2022 included top executives of BP, Shell, Equinor and TotalEnergies. The head of the world’s largest oil and gas firm, Saudi Aramco, was at the site on a “sideline” event. And al-Jaber, chief of Abu Dhabi National Oil Company, was also there and will be in charge of this year’s climate negotiations. The operations and products of those companies and others are huge contributors to climate change: global oil and gas use alone was responsible for more than half of the world’s 40.5 billion tons of greenhouse gas emissions in 2022, according to the International Energy Agency.

It wasn’t just fossil fuel giants that showed up. Take Mercuria Energy. The Switzerland-based firm calls itself “one of the world’s largest energy traders,” with 69 percent of their 2022 traded volumes in oil and natural gas. The firm is also a part-owner in Sult Terminals, which operates storage terminals that hold crude oil, petroleum products and other liquids, as well as a marine fuels company called Minerva Bunkering.

Mercuria sent six people to the COP in Egypt. Its chief trader, Magid Shenouda, went as part of the Coordinating Body of Indigenous Organizations of the Amazon Basin. Others from Mercuria went as members of delegations for the Brazilian government, the International Chamber of Commerce, the International Emissions Trading Association and Winrock International, a nonprofit that works to help poorer countries with social, environmental, and agricultural issues.

“We attend these events because we believe the world needs to change to a global energy system that is reliable, affordable, and sustainable,” firm spokesman Matthew Lauer said in an email.

Mercuria was not the only company that sent people with a national delegation. Two employees with the China National Petroleum Company, which is state-owned and one of the largest energy companies in the world, attended as part of the delegation of Niger, the African nation where the company is constructing a pipeline. Thyssenkrupp, a German steelmaker with emissions in 2022 that rivaled those of some oil and gas majors, according to data they reported to non-profit CDP, sent four people with three different delegations.

Nearly a quarter of people with connections to fossil fuels in AP’s analysis attended with an electric utility. For many of those companies, fossil fuels remain the primary energy source. Take AES Corporation, which sent two people to the conference: More than half of the global company’s generation capacity is natural gas or coal, although AES aims to phase out coal by 2025, according to its most recent annual report to investors.

Houston-based Apache Corporation drills for oil and gas in Texas, Britain’s North Sea and Egypt, with more than 850 million barrels of oil equivalent in proven but yet-to-be-pumped oil reserves. Apache Executive Vice President David Pursell was at the climate talks, part of the six fossil fuel connected members of the US Chamber of Commerce delegation the AP identified.

“By inviting the oil and gas industry to participate in the conversation, we can create pragmatic solutions to addressing global energy poverty while minimizing our environmental impact,” Pursell said in a statement.

Alden Meyer, who has been to all but one COP and is an analyst for the European think-tank E3G, says the big numbers of attendees connected to fossil fuels show these industries see the summits as “either a threat or maybe an opportunity or both for their business,” but the system isn’t set up to tell motives and lobbying efforts.

Meyer and climate negotiations historian Joanna Depledge of the University of Cambridge in England say the fossil fuel interests have huge influence over the event, but the influence begins ahead of the talks.

“National positions are forged way before governments fly to the COPs,” said Depledge.

However, much of the advocating for fossil fuels doesn’t come directly from countries or companies. Last year, the US Chamber of Commerce’s Global Energy Institute sent four employees to the summit. Marty Durbin, the institute’s president and former executive of the American Petroleum Institute, says the institute is a “huge” supporter of natural gas, noting that in developing countries natural gas is an alternative to far-dirtier coal.

Durbin says the interests of the chamber’s wide business constituency must be represented in the negotiations, adding that chamber officials met with John Kerry at COP27 in support of that view and recently met with COP28 leaders in Abu Dhabi.

“I don’t know why we’re trying to push people away instead of saying, ‘Come in and let’s all work on this together,’” said Durbin, speaking from an oil and gas conference in October in Abu Dhabi.

For the upcoming talks in Dubai, the United Nations Framework Convention on Climate Change, which organizes COPs, has changed its badging process to be more transparent. Attendees will be required to state affiliation and relationship to their delegation

Legacy Oil Influences

Historian Depledge points to the first COP in Berlin for what has happened since. Thanks to oil industry lobbying, when setting its rules the convention decided against adopting decisions by majority rule and instead opted for the much harder consensus, she said. That means if a big player or several nations object, a proposal fails. India scuttled a 2021 proposal to phase out coal, watering the language down.

The No. 2 of the upcoming COP, Adnan Amin, told AP that consensus rule means that an agreement to phase out fossil fuels is unlikely. However, he said that in participating in the talks the oil and gas industry “will understand they need to move much faster than they’ve been moving” to reduce emissions.

Pedro Pizarro, president of Edison International, a major California utility, is quick to say his firm doesn’t burn fossil fuels and he doesn’t consider it a fossil fuel company, even though they get at least 40 percent of the electricity they supply from burning natural gas.

When Donald Trump pulled the United States out of the 2015 Paris climate agreement, which set targets to limit global temperature rise, Pizarro still went to the negotiations, telling AP that “the US was essentially absent; there were a few of us CEOs were there saying, ’Hey, we’re still in this’.”

In 2021, President Joe Biden returned the US to the talks. Pizarro says he met with US Special Climate Envoy John Kerry, Energy Secretary Jennifer Granholm and domestic climate czar Gina McCarthy at those negotiations, talking about transitioning to clean energy and supporting Biden’s efforts to pass legislation.

Pizarro says he hopes that carbon capture and storage technologies will allow some fossil fuel burning to continue. Carbon capture removes carbon dioxide from the source of burning or from the air and is intertwined with fossil fuel businesses because promises to to abate emissions are critical to the net-zero pledges of many nations and companies, especially the oil and gas industry. However, the technology is years, if not decades, away from having an impact at scale.

“Right now the problem to solve isn’t fossil fuel,” Pizarro said. “The problem to solve is climate.”

Su disagrees and says all utilities are connected to fossil fuels.

“It’s the fox guarding the henhouse and they should not be at the table when it’s governments who have the jurisdiction to regulate,” Su said. “They are only accountable to shareholders and governments should have full say over what is best for the public.”

“The (COP) process is broken,” Su said. “It’s deeply frustrating.”

Atlas Lithium Secures US$ 20,000,000 Investment from Lithium Investors Including Lead Advisor Martin Rowley

  • Renowned mining professional Martin Rowley leads investment round of US$ 20,000,000 for Atlas Lithium.
  • Mr. Rowley is a pioneer of the modern lithium industry and has over 40 years of experience as a founder, financier, and highly successful mining entrepreneur.
  • Mr. Rowley has the rare distinction of founding and growing two prominent multi-billion-dollar companies, one in lithium (Allkem) and the other in copper (First Quantum Minerals).

BOCA RATON, FLORIDA – Newsfile Corp. – 8 November 2023 – Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium exploration and development company, is pleased to announce the signing of an agreement for a key strategic raise of $20,000,000 from lithium focused investors led by Martin Rowley, former Chairman of lithium powerhouse Allkem Ltd. and a Lead Advisor to Atlas Lithium. In 1996, Mr. Rowley co-founded First Quantum Minerals Ltd., one of the largest copper companies in the world. In 2009, he recognized the potential of lithium and became Chairman of Lithium One Inc., and later Chairman of Galaxy Resources Ltd. after it merged with Lithium One. Mr. Rowley led significant growth in Galaxy, ultimately resulting in the merger with Orocobre Ltd. in 2021 which created global lithium producer Allkem Ltd. He retired as Chairman of Allkem in November 2022.

Atlas Lithium was offered and has entered into an agreement that establishes a US$ 20,000,000 three-year unsecured convertible note led by Mr. Rowley along with other experienced lithium investors (the “Investment”). The Investment carries a coupon of 6.5% per annum, is convertible to common stock at a price of $28.225 per share (a 25% premium to the volume-weighted average price for the three trading days prior to the signing of the Investment agreement), and can be repaid by the Company after one year under certain circumstances. Details on the Investment can be found on the Form 8-K which the Company has filed with the Securities and Exchange Commission.

Marc Fogassa, Chairman and CEO of the Company, noted, “In the current environment where U.S. Treasuries yield close to 5%, the fact that Atlas Lithium was able to raise new capital at 6.5% is a strong outcome and an indication of investor interest. In addition, the conversion price is at a substantial 25% upside to the current stock price. However, the biggest benefit is to have the expertise of astute lithium investors, including Mr. Martin Rowley, aligned with our strategy.”

Martin Rowley commented, “Atlas Lithium has an excellent asset base and a dedicated and hard-working team complemented by a strong collaborative culture. With a highly supportive local community where it operates, this additional funding allows the Company to rapidly advance the development of its Neves Project in Brazil’s Lithium Valley. I am thrilled to deepen my involvement with Atlas Lithium and contribute my own resources to catalyze the company’s growth, helping to unlock the undoubted potential of its lithium assets.”

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report and in Form 10-Q filed with the SEC on October 20, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:

Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium

Hashtag: #AtlasLithium

The issuer is solely responsible for the content of this announcement.