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Inery Blockchain Closes Strategic Partnership and Investment with Truth Ventures Fund

MIAMI, US – News Direct – 22 September 2022 – Inery , a Decentralized Data System, has announced a partnership and an investment coming from Truth Ventures, uniting two companies on their path to streamline decentralized database adoption.

Inery takes a different approach to decentralizing data and data management for both Web2 and Web3 companies, while streamlining the shift to the decentralized web. Its security, scalability features, and high throughput capabilities provide support to use cases across different industries. These include the healthcare sector, enterprises and governments, gaming, real estate, aviation, and any other business anywhere where data is an asset.

“Inery’s real-world utility is what got us on the same page with Truth Ventures in the first place,” stated Inery Co-founder and CEO, Dr. Naveen Singh. “Truth Ventures firmly believes that Inery has the potential to revolutionize the way data is handled, both online and offline. This partnership will be an important factor in helping Inery reach its full potential and will help the push for mass adoption of decentralized databases in the conventional and Web3 spaces.”

Inery’s layer 1 blockchain, and an elegant DB solution on top of it have attracted the attention of the blockchain industry from its inception, showing interest in database decentralization and security. The project rolled out its first public testnet on August 10, 2022, preceding its upcoming launch, and is also scheduled for listing at the end of the third quarter of 2022.

“Truth Ventures saw and agreed with the vision and real-world utility of Inery and believes that it has great potential for mass adoption. The mutual goal of this partnership is aimed at making decentralized database management a standard instead of an outlier,” as per Mr. Varun Datta Founder & CEO of Truth Ventures.

Truth Ventures had previously invested in and partnered with Bet Neo–a pioneering gaming hub, Gordium Healthcare, Moneto Sports, and many other new companies.

Hashtag: #Inery

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

About Inery

Inery is a proprietary layer-1 blockchain and decentralized data management solution. The network enables a decentralized, secure, and trusted foundation for database management by leveraging blockchain technology. It integrates blockchain functionalities and distributed database properties to create a paradigm shift in data access, storage, and management.

About Truth Ventures
Truth Ventures is an international investment fund dedicated to bringing market-defining innovations and ideas into light by financing and mentoring them. The international venture capital firm finances companies at their seed stage, developing stage, or startups exhibiting potential for growth in the Entertainment, Blockchain Technology, Healthcare, and holistic wellness sectors.

eWTP Arabia Capital – Pushing Forward Assertively to Reinvent the Global PE Landscape by Empowering Super Unicorns in the MENA Region

SINGAPORE – Media OutReach – 22 September 2022 – eWTP Arabia Capital (eWTPA), a leading Saudi Arabia and China based growth stage venture fund, is decisively advancing in their mission to cooperate with Super Unicorns in the MENA region to help them reach a higher level.

Founded in 2019, eWTPA launched its first fund (Fund I) in same year, which is backed by the sovereign wealth fund of Saudi Arabia, Public Investment Fund (PIF) and eWTP Capital (Alibaba Group and Ant Finance Group). Within a short period of time, the US$400-million-fund has already invested into 16 companies across of digital infrastructure, core technology and platform, consumer and enterprise services which span enterprise services, cloud services, cyber security, fintech, cross-border supply chain, retail and consumer, e-commerce, logistics and digital entertainment and others. eWTPA’s goal is to work with its portfolio companies and together build a unique digital ecosystem in the Middle East and North African (MENA) region.

Charged by these initial successes, eWTPA is currently pathing its way to expand more aggressively into the MENA market. Despite that there are fewer Unicorns in the MENA region compared to countries such as USA and China, eWTPA holds firm to their vision that the MENA market holds the strongest advantage of nurturing the growth of Unicorns, foreseeing great opportunities and potential within the region in the future. The characteristics of the MENA market analyzed by eWTPA are as follows:

  1. Young and Tech Savvy Population: The MENA market covers more than 20 countries and a population base of hundreds of millions, consisting of young people with a high internet coverage rate and are active in online shopping.
  2. Stable and Improving Economy: The Middle East is one of the regions with the highest per capita GDP in the world, where both the willingness and ability of consumption are maintained at a high level.
  3. Nurturing Business Environment: In the “World Bank 2020 Doing Business Report”, most of the 190 countries and regions that are ranked high are in the Middle East, including United Arab Emirates (16), Bahrain (43), Saudi Arabia (62), Jordan (75), and Kuwait (83).
  4. Politically Balanced and Stable: The core regions of the Middle East and North Africa have long-term balanced relations with China and the U.S. Also, the stable bilateral trade cooperation and investment relations with China for many years have laid the foundation for the activity of non-governmental trade cooperation.
  5. Great Market Potential: The digital economy has a broad market space and huge development potential.

Ms. Jessica Wong, Founding & Managing Partner of eWTPA, “As the region itself is transitioning from closed to open, the MENA market has its own unique needs and scenarios. The strong demand for innovation is reflected in the optimization and iteration of the region’s existing foundation, which is why eWTPA believes that more emphasis is to be placed on mature and refined technologies and products.”

Given that the MENA market places more importance on the supply and improvement of core values within the economy and industry, unicorns in the region are more likely to be mature global companies migrating to the Middle East in the future, other than local startups, a scenario that is highly compatible with eWTPA’s buyout strategy.

Three years of layout and planning have led to eWTPA completing the establishment of a Saudi cloud computing service company with a registered capital of 238 million US dollars with Alibaba Cloud, STC, the largest telecom service provider in the Middle East and North Africa and other companies this year. This will represent the largest cloud computing service company in the Middle East and North Africa in the future. At the beginning of 2022, as an investor and strategic partner of Jitu Middle East, eWTPA also announced that they would invest 2 billion US dollars in the next phase to become the largest intelligent logistics industrial park in the Middle East and North Africa, eventually becoming a key replication project of the Saudi government today. These power plays are one of the key reasons eWTPA can assist super unicorns open up to emerging markets, land faster, and develop with more stability and certainty.

eWTPA recognizes that compared to other regions, the MENA market’s roadmap to development is quite unique. From a macro perspective, the MENA region is in the stage of economic transformation and digital upgrading, which brings considerable structural opportunities. “These opportunities are reflected in the region’s sectors of technology, representing important infrastructure for regional economic transformation and digital upgrading that fills a huge gap in the market. The region is also in essence the accumulation of China and Asia’s scientific and technological strength in the past, “said Ms Wong. eWTPA has built a two-way docking bridge through investment to enhance regional industries. This will drive regional economic growth and allow mature enterprises to create greater glory on the global stage.

Moving forward, eWTPA believes that their greatest challenge is how to make large enterprises and unicorns better understand the opportunities of the MENA market, what methods and strategies should be used to notify them that it is better to enter this market faster, and what strategies to employ to be successful when landing in this market. eWTPA affirms that the degree of localization is the key to the sustainable growth of enterprises in the Middle East and North Africa markets, where eWTPA is located, which is why the Private Equity firm’s heavy empowerment is reflected in helping enterprises strengthen their localization capabilities. Ultimately, these past few years have helped eWTPA gain an abundance of experience and knowledge, and eWTPA hopes to propel overseas enterprises take off across borders.

Hashtag: #eWTPArabiaCapital

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

About eWTP Arabia Capital

eWTP Arabia Capital (“eWTPA”) is a growth stage venture fund based in Saudi Arabia and China backed by marquee investors – eWTP Capital and the sovereign wealth fund of Saudi Arabia, Public Investment Fund (PIF). eWTPA is focused on building a local digital ecosystem in MENA by partnering with market leading Chinese businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. eWTPA takes pride in its ability to offer comprehensive support to its portfolio companies, empowering them to explore and succeed in strategic markets across the MENA region.

Established in 2019, eWTPA is now the preferred partner for Chinese technology giants seeking to enter the MENA region. Through its US$400 million Fund I it has invested in 16 companies in the digital sector, 13 of which have already established themselves successfully in Saudi Arabia. Investments include the hugely successful Saudi Cloud Computing Company (“SCCC”) the kingdom’s leading provider of cloud Services and J&T Logistics, which is now the fastest growing logistics provider in the country.

The fund’s core investment strategy is to transfer the latest technology and proven business models from China and Asia more broadly in order to fill a clear gap in its target MENA market. eWTPA focuses on the sectors of digital infrastructure, core technology and platform, consumer and enterprise services which span enterprise services, cloud services, cyber security, fintech, cross-border supply chain, retail and consumer, e-commerce, logistics and digital entertainment. To eWTPA, success is the ability to drive capital appreciation and to help elevate the digital eco-system in the MENA region.

11 Children Killed by Myanmar Junta Helicopter Fire

The Myanmar military is using helicopters to crackdown against rebel fighters across the country. Photo Credit: Myanmar Now

At least 11 children died and 17 were injured after the Myanmar military raged air strikes against a school inside a monastery in Let Yet Kone village in Tabayin Township, Sagaing Region of Myanmar this week.

The horrifying attack began when two junta helicopters fired machine guns and heavy weapons into the school compound continuously for an hour. The Junta troops then entered the premises of the monastery where the school is situated and kept firing indiscriminately. The military alleged that they opened fire on the school because rebels were using it as a safe house and attacking the armed forces from within.

The military later transported the bodies to a township 11 km away and buried them. According to a report by Save the Children, in 2021, documented violent attacks on schools increased to around 190 from 10 in the previous year.

The Special Advisory Committee for Myanmar has condemned the attack saying, “The airstrikes could not have taken place without authorization from commanders who ultimately report to Commander-in-Chief of the military, Senior General Min Aung Hlaing through their chain of command.

“The United Nations and ASEAN are allowing this to happen. Children in Myanmar will continue to suffer and die at the hands of this barbaric military until it is stopped, and its leaders finally brought to justice. How many more innocent children need to be killed for the United Nations and ASEAN to take definite action?”

For over twelve months now, the Myanmar military has conducted the most brutal of crackdowns, going to any extent to curb any kind of dissent against its rule. The mass atrocities continue in a steadfast manner with the international community failing to hold the military accountable for its crimes against the citizens of the country.

CPA Australia: Two-thirds of accounting and finance professionals expect Greater Bay Area investment to surge

HONG KONG SAR – Media OutReach – 22 September 2022 – Two-thirds of accounting and finance professionals expect corporate investment in the Guangdong-Hong Kong-Macao Greater Bay Area to surge in the next five years, a report from leading global accounting body CPA Australia shows.

(from left to right) Eden Wong, CPA Australia President of the 2022 Greater China Divisional Council and Chair of the Financial Services Committee and Wilson Pang, Divisional Councillor in Greater China and Deputy Chair of the Greater Bay Area Committee at CPA Australia

(from left to right) Eden Wong, CPA Australia President of the 2022 Greater China Divisional Council and Chair of the Financial Services Committee and Wilson Pang, Divisional Councillor in Greater China and Deputy Chair of the Greater Bay Area Committee at CPA Australia

CPA Australia’s report Seizing Success and Connectivity in the GBA: Financial Services found almost half of respondents expected green finance and carbon trading will play a major part of their business’ activities in the area over the next five years.

CPA Australia surveyed 483 accounting and finance professionals and 17 policymakers, regulators and business leaders across the GBA cities for the report.

CPA Australia President of the 2022 Greater China Divisional Council and Chair of the Financial Services Committee Eden Wong said the GBA was on a strategic mission to break new ground, which will lead to an influx of capital in the region.

“The GBA is one of the world’s wealthiest megalopolises, with the highest concentration of high-net-worth individuals in the world,” he said.

The potential minimum investable assets of wealthy families in Guangdong, Hong Kong and Macao grew from an estimated US$365 billion in 2017 to US$415 billion in 2021.

“To capture these unprecedented opportunities, many corporates have strategically planned to increase investments in the GBA in the next five years,” Wong said.

The report identifies six major influences on investments in the GBA over the next five years:

  1. Corporate investment will grow
  2. More active green finance and carbon trading activity
  3. More efforts to improve capital flow openness
  4. Digital payment technology adoption will enhance connectivity
  5. More resources for talent availability
  6. Closer collaboration among authorities

“Regulators have endeavoured to establish an ecosystem in Hong Kong to guide and support companies towards the path of a low-carbon and sustainable transition,” Wong said.

“They have set a strategic framework and agenda for green and sustainable finance and published guidance on sustainability-related disclosures.

“Hong Kong may play a role as a super connector to link China’s carbon trading scheme with the rest of the world and set the GBA on a fast track to improve the quality and efficiency of green and sustainable finance. We suggest the authorities across the GBA cities explore the possibility of establishing a unified carbon trading market to serve both domestic and international investors.”

More than one third of respondents said the openness of capital flow was a key advantage for businesses operating in the GBA. “Cross-border capital flow continues to grow and the use of the Renminbi in global transactions is increasing,” Wong said.

Businesses in the GBA are facing a global talent shortage. Respondents said more resources for talent availability would drive positive improvements over the next half a decade; seven in 10 called for more policy support to tackle this issue.

Forty-one per cent of respondents nominated mutual recognition of professional qualifications as the most critical factor to expand the talent pool in the GBA.

“Talent availability is an indispensable part of success”, Wilson Pang, Divisional Councillor in Greater China and Deputy Chair of the Greater Bay Area Committee at CPA Australia said.

Pang said there continued to be multiple accreditations for professional qualifications across the GBA mainland cities and the Special Administrative Regions.

“To dismantle this barrier and accelerate the movement of talent, regulators and professional bodies should explore ways to simplify accreditation processes and encourage young professionals to accumulate practice experience by working in other GBA cities,” Pang said.

“Policy makers, regulators and investors who contributed to our report expressed the need to deepen future collaboration to tackle these issues.

“Recently announced measures in the GBA cooperative zones encompassing Qianhai, Hengqin and Nansha could encourage further cross-boundary investments.”

According to Pang, “Regulators and corporates across the GBA should make a concerted effort to buttress the advantages in the region such as the openness of capital flow and the high quality of financial infrastructure.”

Hashtag: #CPAAustralia

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

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 170,000 members in over 100 countries and regions, including more than 22,200 members in Greater China. CPA Australia has been operating in Hong Kong since 1955 and opened our Hong Kong office in 1989. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at

Floodwaters Sweep Away Truck in Oudomxay

Video of a truck washed away by floodwaters in Oudomxay Province on Tuesday went viral on social media. Fortunately, nobody was harmed in the incident but the truck was badly damaged.

Laos Discusses Learning Solutions at UN Summit in New York

Minister of Education and Sports of Laos, Mr. Phout Simmalavong and Minister of Foreign Affairs, Mr. Saleumxay Kommasith at the UN summit.

A delegation from the Ministry of Education and Sports, accompanied by UNICEF Laos, has concluded its mission to New York for the global Transforming Education Summit.

All M1 Mobile Plans are now 5G

M1 customers can now enjoy True 5G seamlessly across all mobile plans

SINGAPORE – Media OutReach – 22 September 2022 – M1 Limited (M1), one of Singapore’s leading Mobile Network Operators (MNO), today announced that all its mobile handset plans will come with True 5G. Consumers who sign up for the first time or re-contract on any M1 mobile plans will get to enjoy True 5G on M1’s 5G Standalone (SA) network, which offers customers faster speeds, enhanced connectivity, and close to real-time network responses.

Caption

M1 will also offer existing customers a free 5G SIM card upgrade, as part of concerted efforts to enhance consumers’ experience so that they can enjoy the benefits of 5G. In addition, customers can complete their 5G journey by taking advantage of M1’s trade up program – where customers receive attractive trade-in values for their old phones and upgrade to new 5G enabled devices. To fully experience M1’s True 5G connectivity, customers can head over to M1 Shop at Peranakan Place and test out the recently launched 5G-powered cloud gaming service, Zolaz.

M1 continues to put its customers first, and aim to expand 5G adoption among consumers by giving them easy access to the 5G network, which lowers the barrier to entry for them to kickstart their 5G journey and begin optimising the way they live, work and connect. As one of the leading 5G SA network operators in Singapore, M1 looks forward to delivering greater innovation and bespoke services to consumers as well as enterprises through seamless 5G connectivity.

Available in more areas now, M1‘s True 5G SA network covers about 90% of Singapore including CBD, Marina Bay Financial Centre, key town centres and high data usage areas such as Ang Mo Kio, Bishan, Chinatown, Clementi, Orchard Road, Pasir Ris, Paya Lebar, Sengkang, Tampines and Woodlands. As a frontrunner in Singapore’s 5G development, M1 has embarked on early 5G SA use cases and trials as early as 2019. Following its official True 5G rollout in mid-2021, M1 has made significant progress across various industries through commercialised 5G use cases and has brought greater benefits to consumers beyond high-speed connectivity.

Hashtag: #M1

About M1

M1, a subsidiary of Keppel Corporation, is Singapore’s first digital network operator, providing a suite of communications services, including mobile, fixed line and fibre offerings, to over two million customers.

Since the launch of its commercial services in 1997, M1 has achieved many firsts – becoming one of the first operators to be awarded one of Singapore’s two nationwide 5G standalone network licences, first operator to offer nationwide 4G service, as well as ultra high-speed fixed broadband, fixed voice and other services on the Next Generation Nationwide Broadband Network (NGNBN).

M1’s mission is to drive transformation and evolution in Singapore’s telecommunications landscape through cutting-edge technology and made-to-measure offerings. For more information, visit




Laos Economic Growth Rating Lowered by ADB

Lao kip to go digital

The Asian Development Bank (ADB) reduced the economic growth recovery predictions for Laos due to supply disruptions and rising commodity prices that have increased inflationary pressures.