Octa, a global financial broker, sponsored an on-sight coding bootcamp called STATUS 200 in Kuala Lumpur, Malaysia. Having joined forces with Ideas International, Octa provided a group of young Malaysian men and women with a unique opportunity to level up their coding skills and make a significant leap towards future careers in a sought-after field.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 1 October 2024 – This year, a global broker Octa provides full financial support for a coding bootcamp for students of Ideas International, a Kuala Lumpur-based inclusive secondary school that aims to give a well-rounded education to young people from diverse backgrounds. The Octa bootcamp aims to empower Malaysian youths in their professional pursuits and propel them towards future coding careers through quality on-site training.
The bootcamp consists of three stages, the first starting in June and the last ending in November. In terms of workload, the second stage held in the summer was by far the most packed of the three, with a curriculum including JavaScript, front-end development, and version control. The 240 hours of training across the second stage have resulted in the final assignments, carried out by each student individually and due in early September.
Meanwhile, in late August, students and teachers gathered to celebrate Octa’s 13th birthday and the successful completion of Stage 2. The broker happily contributed to the festivities, providing a birthday cake and a giveaway of branded merchandise for all participants.
After finishing their Stage 2 final assignments, students will receive certificates based on their performance and can proceed to Stage 3, which will be carried out between 17 September and 24 November. The third stage will span over 60 hours across ten weeks, focusing on React and incorporating its popular use cases. To conclude the bootcamp, students will complete and present their final projects reflecting the knowledge and experience acquired throughout the training.
As the bootcamp’s sponsor, Octa is very proud of the students who mastered an intense curriculum and overcame all obstacles to complete the second stage. By funding educational projects such as STATUS 200, Octa aims to offer dedicated and hardworking youths new opportunities for personal development.
As one of the students said, ‘This bootcamp changed a lot for me in terms of career plans. It made me really keen on continuing my education and maybe getting a computer science degree!’ Hashtag: #Octa
The issuer is solely responsible for the content of this announcement.
Octa
Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.
Canon’s annual thought leadership platform returns with expert dialogue and tech innovation such as AI to help businesses better navigate global uncertainty
SINGAPORE – Media OutReach Newswire – 1 October 2024 – Canon today announced the much-anticipated return of its annual ‘Think Big’ Leadership Business Series in Singapore, happening at Parkroyal Collection Marina Bay on 29 and 30 October 2024. This year’s theme, ‘The Year of Elections – Surviving and Thriving Amid Political Change,’ promises to be more engaging than ever, offering unique business insights to leaders seeking to navigate the complexities of a year marked by significant shifts and emerging challenges. With election outcomes potentially impacting economic trajectories, business leaders must capitalise on change to enhance their resilience and adaptability.
Canon Singapore ‘Think Big’ Leadership Business Series 2024
Attendees will also gain exclusive access to invaluable perspectives from esteemed speakers across key business and trade associations, academia and industry experts discussing topics ranging from the impact of the changing global landscape on businesses in 2025 to best practices for enhancing workplace productivity. For the first time ever, the ‘Think Big’ Series in Singapore will feature sessions conducted in Chinese, available during the afternoon on the first day of the event, opening doors to even more diverse perspectives.
“In a year marked by constant global change and disruption, businesses across Asia face unprecedented challenges. Canon’s commitment to equipping businesses with innovative solutions to stay ahead of the curve is more crucial than ever,” said Norihiro Katagiri, Senior Vice President, Canon Singapore. “Building on the long-standing success of ‘Think Big’ Singapore, Canon’s ‘Think Big’ Series continues to offer a strategic forum that engages business leaders across the region, promoting meaningful discussions on these pressing issues, learning from industry experts, and discovering tech-driven solutions that can help them thrive in a rapidly changing landscape.”
Adapting to Change with the Power of Tech Innovation
Canon will also present a ‘Towards AI’ solutions showcase at the event, designed to empower businesses to make strategic investments in AI amidst rapid change. The showcase, which comes at a time when more than 75%[1] of companies globally are looking to adopt technologies such as AI in the next five years, will spotlight innovative AI and technological solutions for the front, main and back office through an experiential journey. Guests will be able to preview Antelope AI Genie, an advanced AI-powered solution poised to revolutionise operational efficiencies with automated content analysis, summarisation and comparison.
Attendees will have the unique opportunity to interact with other cutting-edge technologies such as facial recognition, process digitalisation and smart surveillance, while witnessing firsthand how they can be leveraged to boost productivity and streamline operations across key sectors.
“We are excited to announce the return of Canon’s esteemed ‘Think Big’ Leadership Business Series. As a cornerstone event in Singapore for over a decade, we are committed to providing a platform for thought-provoking discussions and a culture of innovative showcases,”said Vincent Low, Head of Enterprise Business, Singapore Operations, Canon Singapore. “With a diverse lineup of speakers and a focus on practical solutions, we believe that this event will equip leaders with the insights and tools needed to navigate the complexities of 2024/2025 and emerge stronger than ever.”
About The Think Big Leadership Business Series Singapore
The ‘Think Big’ Leadership Business Series addresses business challenges posed by political shifts; and explores how businesses can leverage technology to thrive in uncertain times through the tech-driven solutions showcase. This year’s event will feature a dual-language format with English and Chinese keynote addresses, and panel discussions led by Mediacorp, one of Singapore’s leading media companies. Interested participants can register for ‘Think Big’ Leadership Business Series in Singapore here. The event is open to the public, with both the panel discussions and solutions showcase accessible to all attendees.
The issuer is solely responsible for the content of this announcement.
Canon Singapore Pte. Ltd.
Canon is a global leader in photographic and digital imaging solutions. Canon Singapore Pte. Ltd. is the headquarters for South & Southeast Asia driving sales, marketing and service strategies. Besides handling the domestic market, the company covers 22 other countries and regions including subsidiaries in India, Malaysia, Thailand and Vietnam. The parent company Canon Inc. has a global network of more than 300 companies and employs about 169,000 people worldwide. Canon is guided by its kyosei philosophy that focuses on living and working together for the common good.
MANILA, PHILIPPINES – Media OutReach Newswire – 1 October 2024 – Castify.ai, a leading CTV content distribution & monetization platform, is thrilled to announce its new partnership with The Manila Times, the Philippines’ oldest and most trusted national daily newspaper. This collaboration marks Castify.ai’s official entry into the Asian market, promising a significant boost to The Manila Times’ digital presence.
Castify.ai’s Tailored CTV Applications: As part of this groundbreaking partnership, Castify.ai has developed tailored Connected TV (CTV) applications for The Manila Times across major platforms including Roku, Google, Amazon, Apple, Samsung, and Xiaomi. Additionally, a mobile application has been created to ensure that The Manila Times’ esteemed content is accessible to readers and viewers on the go. This expansion will enable The Manila Times to reach a broader audience, enhancing the accessibility and convenience of its high-quality journalism.
A Major Win for The Manila Times’ Readers and Viewers: This partnership brings an exciting new chapter for The Manila Times’ audience, who will now be able to consume their favorite content seamlessly on a variety of devices. Whether on a smart TV, streaming device, or mobile phone, users can stay informed with The Manila Times’ comprehensive news coverage, anytime and anywhere.
Hashtag: #TheManilaTimes
The issuer is solely responsible for the content of this announcement.
About Castify.ai
Castify.ai is an omnichannel content distribution platform that empowers video content owners, such as linear TV channels and production houses, to create their own branded OTT applications and channels. With a focus on simplified, automated, and seamless app creation, Castify.ai enables content owners to distribute their content across multiple OTT platforms efficiently. This allows them to concentrate on producing high-quality content while significantly expanding their audience and maximizing monetization opportunities with minimal resource investment.
About The Manila Times
The Manila Times is a national daily newspaper in the Philippines, known for delivering trusted and quality content across print, digital editions, online, and social media platforms. Established on October 11, 1898, it remains the news source of choice for Filipinos worldwide, providing insightful and reliable news coverage.
This partnership represents a significant milestone for both Castify.ai and The Manila Times, setting the stage for a new era of digital content consumption in the region.
Consortium achievements illustrate the capability of industrial metaverse in 3 industry whitepapers
SEOUL, SOUTH KOREA – Media OutReach Newswire – 1 October 2024 – Technology is evolving to support modernization and enable innovation in industry. South Korea’s National IT Industry Promotion Agency (NIPA) is supporting local technology development, eventually promoting the efforts and success to an international audience.
Though often conflated with gaming and social networking, metaverse is an important tool that can improve operations and is increasingly being leveraged for industrial environments.
In 3 recently released whitepapers, NIPA and Frost & Sullivan detail the cases of successful industrial metaverse implementation in the country. By sharing these cases, NIPA is expressing the capability of domestic technology and promoting Korean expertise internationally.
Junam Lee, Director at NIPA for the Metaverse Convergence team says, “We believe that we have lots of advanced technologies to share and cooperate with nearby countries in terms of geography and culture.”
Most organizations cannot easily execute industrial metaverse technology due to budget and customization requirements. These papers identify ways that this innovative technology can be implemented right now.
Supporting flexible manufacturing in the automotive industry
One of the papers published details the benefits of the industrial metaverse and how it has supported the manufacturing industry, specifically automotive. The automotive industry, which is a major part of many Asian economies, is evolving to require flexible manufacturing systems for electric and autonomous vehicles. This paper outlines the path to industrial metaverse realization that enables flexible manufacturing. The consortium led by Shutagen, a technology service company, was able to achieve business and manufacturing agility through industrial metaverse with a deployment at the Hyundai Ulsan plant.
XR devices to enable multiple use cases
Another paper looks at the use of extended reality (XR) devices and how they support the expansion of metaverse use in industry. The consortium project aimed to develop a mass-produced XR device supply chain in Korea to support use domestically and internationally. The consortium, led by P&C Solution, developed XR devices for uses like employee training, assembly line optimization, asset inspection, testing and validation, and more.
Digital twins enabling smart construction
The 3rd paper explores the construction industry and how metaverse enables digital twins of construction projects, allowing for benefits like real-time visualization, simulation, and collaboration across the entire project lifecycle. Hanmac Engineering, a construction engineering company specialized in smart construction, led the consortium to address the need for digital transformation in the construction industry.
The papers highlight the great potential benefit of implementing industrial metaverse for international companies, and illustrate how advanced South Korea companies can be great partners, regardless of budget or customization requirements. Organizations looking to modernize through new technologies must understand the current uses to leverage the potential of industrial metaverse.
Kenny Yeo, Director from Frost & Sullivan, details, “Though metaverse is still in its nascent stage, these examples have been able to leverage the technology and illustrate the practical and tangible benefits. These projects exemplify the benefits of NIPA’s metaverse consortium support.”
Safe and effective improvement in productivity is achieved through the implementation of innovative technology and metaverse.
Proven capability through specific and varied case studies shows flexibility and achievability for future deployments.
Replicable outcomes make South Korean partners attractive for international organizations looking to achieve the same results.
Lee explains, “the main benefit of these technologies is the remarkable improvement of productivity and efficiency in the field. The opportunities for application to the industry are immense, and we hope to create opportunities to collaborate with overseas companies.”
With a strong belief in the advanced technologies of local companies, NIPA is sharing the capabilities and outcomes of these efforts. To learn more about these consortiums and read the case studies, visit the following links:
The issuer is solely responsible for the content of this announcement.
About National IT Industry Promotion Agency (NIPA)
National IT Industry Promotion Agency (NIPA) is a Korean government agency under the Ministry of Science and ICT, pioneering digital innovations in South Korea through supporting the spread of core technologies including AI, metaverse, cloud solutions and digital health. NIPA provides customized supports to fit companies’ life cycles from business foundation through to global expansion.
About Frost & Sullivan
For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion.
Tech-driven investment management business seen rapid growth
Highlights
Completed acquisition of Deep Neural Computing Company Limited (DNCC) and expanded tech-driven management business
Focus on deep neural networks, artificial intelligence, distributed computing, and quantitative trading algorithms
Newly acquired DNCC has contributed HK$9.22 million revenue in merely 3 months
Gross profit ratio improved from 0.95% in previous year to 5.76% for the year
HONG KONG SAR – Media OutReach Newswire – 30 September 2024 – International Genius Company (“IGC“; stock code: 0033.HK) announced its annual results for the year ended 30 June 2024 (the “Reporting Period”). During the Reporting Period, the Group’s tech-driven investment management business has achieved rapid growth, driving IGC’s transformation into a global company with financial transaction innovation driven by artificial intelligence(AI).
The total revenue for the Reporting Period was approximately HK$227 million. Among which, the newly acquired Deep Neural Computing Company Limited (“DNCC”) has contributed around HK$9.22 million revenue to the tech-driven investment management segment in merely 3 months. Its income has significantly increased IGC’s profit margins. Gross profit of the year has increased 4 folds during the Reporting Period.
On 22 March 2024, the Group completed the acquisition of DNCC, a leading R&D and application company specializing in artificial intelligence, deep neural networks, distributed computing, and quantitative trading algorithms. DNCC boasts a team of experts with years of experience in AI research development. The acquisition has further enhanced IGC’s capability in R&D and technology, enabling a breakthrough in AI trading algorithms in order to provide a more specialized and efficient solutions for clients’ trading strategies and technology needs.
With the completion of the acquisition of DNCC, IGC has successfully expanded its tech-driven investment management business. The segment has quickly generated income with a high profit margin, and has enhanced the Group’s income structure and quality, laying a solid foundation for IGC’s transformation.
IGC has now established an advanced and mature trading technology system, with deep neural network, distributed computing and quantitative trading algorithm at its core. IGC will continue to develop trading algorithm based on machine learning and deep learning, in order to form our core product “IGC Prophet”. The technology conglomerate will provide clients with customized one-stop AI trading technology solution that can be commercialized and applied to multiple international financial trading sectors, giving our clients an unparallel competitive edge in the global market.
Looking forward, IGC will continue on the path of technology and model innovation. By increasing the Group’s investment in AI and related technology, and focusing on R&D and scalable application of AI trading algorithms in global financial trading, we strive to drive the innovation in financial trading around the world through AI-driven trading tools. This will in turn expand our client network and increase the Group’s income and profit, further enhancing IGC’s competitiveness in the global market.
The issuer is solely responsible for the content of this announcement.
About International Genius Company
The International Genius Company (IGC; stock code: 0033. HK) is a global company with financial transaction innovation driven by artificial intelligence(AI) with top AI R&D capabilities and quantitative trading experience, working to combine advanced technology with market insight and redefine financial asset trading through AI. Based on cutting-edge technologies and massive data analysis capabilities such as deep neural networks and distributed computing, IGC provides algorithmic trading strategies and customized one-stop extensible AI trading technology solutions for investment institutions, asset management companies, family offices, etc
London, United Kingdom – Newsfile Corp. – September 30, 2024 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”) today announced its financial results for the first half of 2024, showcasing a remarkable period of unprecedented growth and profitability. This outstanding performance underscores Gorilla’s rapid ascent as a leading AI-driven enterprise, delivering transformative technology solutions across global markets.
Key Financial Highlights (Jan-Jun 2024):
Revenue: Gorilla Technology Group recorded $20.67 million in revenue, marking an impressive 222% increase from $6.43 million in H1 2023, reflecting significant market penetration and accelerated demand for its cutting-edge AI-driven solutions.
Gross Profit: Gorilla’s gross profit surged to $17.68 million, up an extraordinary 456% from $3.18 million in H1 2023. This sharp increase is the result of cost reduction initiatives and higher-margin projects that have significantly boosted profitability.
Operating Profit: The company achieved a remarkable turnaround, posting an operating profit of $1.77 million, a substantial improvement from the $7.29 million loss recorded in H1 2023. This transformative shift underscores the success of Gorilla’s strategic realignment and its focus on profitable growth.
Net Profit: Gorilla delivered $1.61 million in net profit, a major improvement over the $7.27 million net loss reported in H1 2023, signifying the company’s impressive rebound and continued strong performance in 2024.
Total Overheads: Gorilla reduced its overheads by 27.55%, from $11.32 million in H1 2023 to $8.20 million in H1 2024, reflecting its commitment to operational efficiency and prudent financial management.
Earnings Before Interest, Tax, Depreciation & Amortization (EBITDA): EBITDA increased significantly, from a $6.56 million loss in H1 2023 to a positive $2.49 million in H1 2024, showcasing operational resilience and enhanced profitability.
Adjusted EBITDA: Adjusted EBITDA rose by an astounding margin, reaching $2.65 million, up from a $3.47 million loss in H1 2023, driven by strong underlying business performance and growth in key sectors.
First Half 2024 Results
Unless noted otherwise, all figures are for the six months ended June 30, 2024, and all comparisons are with the corresponding period of 2023 The following table summarizes financial results (unaudited):
Six months ended June 30
Items
2024
2023
(dollars in thousands)
Revenue
$
20,675
$
6,429
Cost of revenue
(2,996)
(3,250)
Gross margin
17,679
3,179
Operating expense
15,905
10,470
Operating income (loss)
1,774
(7,292)
Net profit (loss)
$
1,612
$
(7,270)
Number of contract of sales
61
81
The following table shows our EBIT, EBITDA, and adjusted EBITDA, together reconciled to the income(loss) for the six months period ended June 30, 2024, and 2023 (unaudited).
Six months ended June 30
2024
2023
(dollars in thousands)
Profit (loss) for the period
$
1,612
$
(7,270)
Income tax expense
138
2
Interest and finance income (expense), net
24
(24)
EBIT (LBIT)
$
1,774
(7,292)
Depreciation expense
276
322
Amortization expense
442
407
EBITDA (LBITDA)
$
2,492
$
(6,563)
Transaction costs(1)
162
3,098
Adjusted EBITDA(LBITDA)
$
2,654
$
(3,465)
(1) Transaction costs are one-off expenses for one-time employee expenses and professional services related to asset acquisition, professional services for one-time project which are considered as one-off corporate development events and added back for calculation of adjusted EBITDA.
Jay Chandan, Chairman & CEO of Gorilla Technology Group, commented:“The first half of 2024 has been nothing short of exceptional. These results reflect our strategic focus on operational excellence, market expansion and the powerful role AI continues to play in driving our growth. We have significantly strengthened our balance sheet, pivoted towards higher-margin solutions, and optimised our cost structure. This has enabled us to deliver record profits and further solidify our position as an innovative leader in the global technology landscape.”
Jay added: “As we look ahead, we remain laser-focused on scaling our AI-driven offerings and executing on our long-term vision. We are on track to deliver our best year yet, with strong indications that our year-end results will surpass the Company’s expectations across all key metrics. Gorilla is poised to lead the charge in the rapidly evolving AI and technology space.”
Bruce Bower, Interim Chief Financial Officer of Gorilla Technology Group, added:
“Our financial performance in the first half of 2024 is a testament to the strength and agility of our business model. We have successfully realigned our cost structure while driving exceptional top-line growth. The sharp reduction in our cost of sales, coupled with our ability to generate substantial gross and operating profits, demonstrates the operational efficiencies we’ve embedded across the organisation.”
“Looking ahead, we are confident that our strategic investments and prudent financial management will continue to yield strong returns. We have laid a solid foundation for sustainable, profitable growth and are well positioned to exceed our full-year financial targets. Gorilla is not only delivering on its promise of innovation but also creating real, tangible value for our shareholders.”
Forward Momentum into H2 2024 and Beyond
Gorilla is not resting on its laurels. The company is aggressively pursuing new larger deals and expanding its global footprint and is set for an even more impactful second half of 2024, underpinned by a rapidly expanding pipeline of potential project and accelerated market penetration. Our pipeline continues to grow larger than previously projected, reflecting the increasing interest in Gorilla’s AI-driven solutions across our core regions.
Full-year projections remain highly optimistic, with revenues on track to surpass $72 million, driven by both existing and anticipated contracts in key markets such as MENA, Southeast Asia, East Asia, South America and the United Kingdom. The company expects significant profit growth over fiscal 2023 as operational efficiencies and product innovations continue to drive higher margins.
About Gorilla Technology Group Inc.
Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.
Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about future revenues, our ability to attract the attention of customers and investors alike, Gorilla’s largest projects and ability to win additional projects and execute definitive contracts related thereto, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on May 15, 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
Investor Relations Contact: Dave Gentry RedChip Companies, Inc. 1-407-644-4256 GRRR@redchip.com
The issuer is solely responsible for the content of this announcement.
San Diego, California and Paris, France – Newsfile Corp. – September 30, 2024 – Qualcomm Incorporated, a global leader in high-performance at low-power solutions, through its subsidiary, Qualcomm Technologies, Inc. (“Qualcomm”), and Sequans Communications S.A. (NYSE: SQNS), a supplier of 4G and 5G semiconductor solutions for the Internet of Things (IoT), today announced that they have completed the sale of Sequans’ 4G IoT technology to Qualcomm.
“We are pleased to add Sequans’ 4G IoT technology into Qualcomm’s broad product portfolio, adding to our robust, low-power solutions for dependable and optimized cellular connectivity for industrial IoT applications,” said Nakul Duggal, group general manager, automotive, industrial and embedded IoT, and cloud computing, Qualcomm Technologies, Inc. “This acquisition supports our commitment to delivering cutting-edge IoT solutions and strengthens our position as a leader in intelligence at the edge.”
“We are thrilled to finalize this transaction with Qualcomm and to retain a perpetual license to continue using, commercializing and advancing these technologies, said Georges Karam, CEO of Sequans. “It validates the strength of our technology and ensures that our customers will continue to receive top-tier support on our 4G portfolio and cutting-edge 5G innovation from Sequans. The asset sale is set to deliver significant benefits to our customers. With a robust balance sheet, proven technology and a comprehensive portfolio that includes low-power LTE-M/NB-IoT, LTE Cat 1bis and the upcoming 5G Redcap/eRedCap technology, Sequans is very well positioned in the market. Supported by a seasoned team dedicated to cellular IoT, Sequans is set to provide best-in-class IoT products and services.”
Qualcomm Technologies expects to integrate these 4G IOT technologies into its portfolio of purpose-built connectivity solutions for IOT.
About Qualcomm
Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon® branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress.
Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patented technologies are licensed by Qualcomm Incorporated.
About Sequans Communications
Sequans Communications S.A. (NYSE: SQNS) is a leading semiconductor company specializing in wireless cellular technology for the Internet of Things (IoT). Our engineers design and develop innovative, secure, and scalable technologies that power the next generation of connected devices. We offer a wide range of solutions, including chips, modules, IP, and services. Our LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap/eRedCap platforms are optimized for IoT, delivering breakthroughs in wireless connectivity, power efficiency, security, and performance. Established in 2003, Sequans is headquartered in France and has a global presence with offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, and China.
TUNIS, TUNISIA & LOS ANGELES, UNITED STATES – Newsaktuell – 30 September 2024 – DNA – Tunisia’s political landscape is undergoing a perilous shift. Once celebrated as the Arab Spring’s democratic success story, the country now faces the grim possibility of sliding back into authoritarianism, a new study warns.
Backing for the President: Supporters of Tunisian President Kais Saied hold his image during a rally in Tunis, on July 25, 2024, as the nation celebrates the 67th anniversary of foundation of the republic. (Photo by Fethi Belaid / AFP)
As the October 2024 elections loom, analysts warn that President Kaïs Saïed may tighten his grip on power, threatening to reverse the hard-won gains from the 2011 Jasmine Revolution.
But what has led Tunisia to this moment? And why has economic stagnation stifled its democratic aspirations? Researchers behind a new Berggruen Governance Index (BGI) report analyze what happened and what may happen next.
In late 2010, mass protests erupted in Tunisia, setting the stage for the Jasmine Revolution. This movement, ignited by public outcry against the autocratic rule of Zine El Abidine Ben Ali, became the spark for the wider Arab Spring that swept through North Africa and the Middle East. While many neighboring nations soon experienced civil war or counter-revolution, Tunisia emerged as a beacon of hope.
The early years of Tunisia’s post-revolution period were marked by a wave of political reforms. The newly formed democracy scored well on the BGI Democratic Accountability Index, and state capacity saw significant improvement as the country tried to rid itself of the corruption and inefficiencies of the past. By 2021, Tunisia had solidified its place as one of the few democracies in the region. Yet, beneath the surface, economic challenges persisted, laying the groundwork for a brewing crisis.
Despite the political gains, Tunisia’s economic struggles were not resolved after the revolution. From 2010 onward, while democracy flourished, the provision of public goods such as education, health, and infrastructure remained lackluster. Economic growth stagnated, as highlighted by Tunisia’s disappointing GDP per capita trends and the troubling rise in unemployment and poverty. Emigration grew steadily.
The Berggruen Governance Index report paints a clear picture of this dynamic. While Tunisia’s democratic accountability score soared after 2011, its fiscal capacity faltered, dropping to concerning lows by 2021. Political stability did not translate into economic prosperity, and the failure to provide material benefits to the population eroded faith in democratic institutions. Disillusionment spread as citizens faced the same hardships under a new political system.
According to the report, which was conducted by researchers from the Luskin School of Public Affairs at the University of California Los Angeles (UCLA), the Los Angeles-based Berggruen Institute and the Hertie School, a university in Berlin, Germany, the economic stagnation is rooted in both internal and external factors. Internally, Tunisia’s governance struggled to stabilize a post-revolution economy. Externally, a decline in foreign direct investment (FDI) exacerbated the situation, as investors grew wary of Tunisia’s fragile political environment. The report based on the BGI shows that FDI, which had peaked at nearly 9.5 per cent of GDP under Ben Ali, plummeted after the revolution, contributing to Tunisia’s deteriorating economy.
Current president Kaïs Saïed, a law professor who rose to prominence on a populist wave, secured victory in the 2019 elections. His election signaled a shift in Tunisia’s political trajectory. While initially celebrated for challenging the elite, Saïed soon began to erode the very democratic foundations that had lifted him to power.
In 2021, Saïed suspended the parliament in what many labeled an “auto-coup.” A year later, a constitutional referendum further expanded his powers at the expense of the legislative branch, fueling fears of a return to authoritarianism. Human rights organizations have raised alarms about his increasing use of repression, imprisonment of opposition leaders, and violent crackdowns on migrants. According to the study, Tunisia’s democracy, once lauded, is now on the edge.
The political repression under Saïed’s rule is setting the tone for the upcoming 2024 elections, which analysts predict will be a mere formality to legitimize his continued grip on power. According to reports from Human Rights Watch, opposition groups face severe restrictions, and one candidate is even running his campaign from prison.
The growing repression is particularly alarming as Tunisia grapples with a deepening economic crisis. The government’s rejection of a 2 billion US-Dollar International Monetary Fund loan in 2023, criticized by President Saïed as a “dictate,” was widely seen as a populist move. However, the rejection further isolated Tunisia from vital international financial support, leaving it struggling to address its economic problems. As citizens endure rising unemployment, inflation, and food insecurity, the prospects for a democratic recovery seem dim.
The situation in Tunisia offers a stark lesson about the relationship between democracy and economic development. According to the Berggruen Governance Index, countries with stronger democracies often enjoy higher standards of living. Yet, in Tunisia’s case, democracy has failed to deliver the expected economic dividends. This failure is partly due to the inherent difficulties faced by developing democracies, where public pressure for immediate consumption can hinder long-term investments needed for sustainable growth. Furthermore, economic uncertainty in Tunisia has deterred foreign investors.
The precarious state of Tunisia’s economy has had direct consequences for its citizens. Vulnerable employment is rising, and the share of undernourished individuals has climbed back to levels not seen since the revolution. The economic crisis has fueled social discontent, and with no clear solutions in sight, the country risks further instability.
The situation in Tunisia illustrates a broader challenge facing emerging democracies worldwide: the need to deliver both political reform and economic progress, the researchers write in their report. When governments fail to improve living standards, citizens may grow disillusioned with democracy, creating an opening for authoritarian leaders to consolidate power.
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