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- Accelerating Asia announces Q1 investments into 13 startups across 10+ markets
May 5, 2022. SINGAPORE. International early-stage VC fund, Accelerating Asia has announced its latest round of investments today including nine new companies joining Cohort 6 of the flagship program and additional capital into four existing portfolio companies. International early-stage VC fund, Accelerating Asia has announced its latest round of investments today including nine new companies joining Cohort 6 of the flagship program and additional capital into four existing portfolio companies. The new investments take Accelerating Asia’s portfolio to 52 startups who have raised a total of over US$42M. Cohort 6 continues the portfolio’s trend of attracting early investor interest with ~US$1.5M in soft commitments received during month 1 of the program when access is reserved for Accelerating Asia’s network, adding to the $2.5M raised prior to joining the program. The new investments in Cohort 6 also have market traction and growth revenue with an average GMV of $100k per month and an average monthly recurring revenue of over $25k. “With the 9 new portfolio startups selected from 600 applicants and 4 follow-on investments, Accelerating Asia is excited to continue to invest in highly scalable pre-Series A startups that also have a positive impact in respective operating markets.” Amra Naidoo Cohort 6 startups have a market presence in 10+ countries in Southeast Asia, South Asia, North America and Europe and cover 8 verticals including proptech, marketplace, fintech, logistics, services, eCommerce and healthtech. The nine new startups also include 40% female co-founded startups - Tokban, 60+, relay.club, and Markopolo.ai, all of which have a female Chief Operating Officer or Chief Executive Officer and 80% of startups are also addressing Sustainable Development Goals. “With the 9 new portfolio startups selected from 600 applicants and 4 follow-on investments, Accelerating Asia is excited to continue to invest in highly scalable pre-Series A startups that also have a positive impact in respective operating markets. Since 2019, we’ve built up our portfolio of startups with investors coming to Accelerating Asia to gain early access to a pipeline of startups that combine profit with purpose,” Accelerating Asia General Partner Amra Naidoo said. “Our VC accelerator model ensures high potential founders have greater access to needed capital financing, mentoring and skill sets to enhance their growth trajectory and quickly become leaders in their respective verticals while also lowering the overall risk for our investors at an early stage. “With the new cohort, we add a second investment into Pakistan and India, with Godaam and 60+ joining Deaftawk and ProjectPro in the portfolio. We also broaden our geographical footprint by investing into Relay.Club and Nucredits which are serving Chinese customers and connecting to international markets,” Amra said. “In Bangladesh, the ecosystem is at a similar point to where Indonesia was 5-6 years ago and GDP growth is on track to be ~7% in 2022, making it one of the fastest growing economies regionally.” Craig Bristol Dixon In Q1 2022 Accelerating Asia also made follow-on investments into Shuttle, Transtrack.ID, Numu and Giftpack, adding to the additional investments into ProjectPro and iFarmer made in 2021. Accelerating Asia first invested in these six companies in 2020 and 2021, since then average monthly revenue has grown 332% and are projected to grow revenue to an average of over $16M this financial year. Since joining the portfolio, the startups have also launched new product offerings, signed new clients and optimised operations to sustain revenue growth and develop new income streams. In addition to investment from Accelerating Asia, these startups have raised from Cocoon Capital, the Indonesian Women Empowerment Fund ( an initiative of Moonshot Global & YCab Ventures), Draper Startup House Ventures Fund, HH VC Investments, Startup Bangladesh, Impact Collective and angels investors in Accelerating Asia’s fund. “We’re excited to continue to invest in our portfolio companies as they grow alongside leading institutional investors. There is significant market and investor demand for the portfolio especially in digitisation of transport and logistics networks with the industry at an inflection point in emerging economies like Bangladesh and Indonesia. With their fleet telematics solution and the founding team’s extensive industry experience, TransTRACK.id is well placed to capitalise on the growth of the freight and logistics market which is expected to be worth US$383B by 2023,” said Accelerating Asia General Partner Craig Bristol Dixon. “In Bangladesh, the ecosystem is at a similar point to where Indonesia was 5-6 years ago and GDP growth is on track to be ~7% in 2022, making it one of the fastest growing economies regionally. We first started investing in Bangladesh in 2019 as one of the first international VCs, since then investor interest into our portfolio has increased. For example, Shuttle has successfully grown from starting as a safe transportation solution for women to expanding its serve to include B2B offerings for companies and more routes.” Craig said. Accelerating Asia launched Fund II in 2021, Cohort 6 are the second batch of investments for Fund II which will deploy capital across Southeast and South Asia pre-Series A startups. If you’re an accredited investor who is looking to gain access to qualified deal flow and contribute to Accelerating Asia’s to build the best pre-Series A startups in the region, reach out to the Accelerating Asia team for more information about investing alongside us. The invite only Demo Day for Cohort 6 will be held on June 30, more information on how to apply to attend can be found here
- BURSA MALAYSIA NAMED ‘BEST STOCK EXCHANGE FORISLAMIC LISTINGS’ AT THE ISLAMIC FINANCE NEWS AWARDS
March 31, 2022. KUALA LUMPUR. Bursa Malaysia Berhad (“Bursa Malaysia or the Exchange”) has been named ‘Best Stock Exchange for Islamic Listings’ by Islamic Finance News (“IFN”) at the 15 th and 16th Annual IFN Service Providers Poll, which was announced at the IFN Award Ceremony 2022 yesterday, 30 March 2022. The ‘Best Stock Exchange for Islamic Listings’ category was first introduced in 2018 to recognise the most outstanding stock exchange for the listing of Shariah-compliant securities in an enabling and conducive ecosystem. This is the fourth consecutive year Bursa Malaysia has emerged as the winner of this category, making it the Leading Exchange in the Islamic capital market. “We are honoured to receive this Award, as it reflects Bursa Malaysia’s strength and competitive edge in the Islamic finance space,” said Datuk Muhamad Umar Swift, CEO of Bursa Malaysia. “Notwithstanding the challenges posed by the global pandemic, we remain steadfast in ensuring our markets stayed open and accessible to continue to attract more listings of Islamic instruments and increase investor participation in the Islamic capital market.” Bursa Malaysia offers a wide breadth of Shariah-compliant securities that are listed on the Main, ACE and LEAP markets. As at end February 2022, Shariah market capitalisation stood at RM1.2 trillion, which is 67.3 percent of the total market capitalisation of RM1.8 trillion. During the same period, 753 or 79.1 percent out of total 993 companies listed on Bursa Malaysia are Shariah-compliant and tradable on Bursa Malaysia-i, the world’s first end-to-end Shariahcompliant investing platform. Bursa Malaysia-i incorporates a full range of Shariah-compliant exchange-related facilities including listing, trading, clearing, settlement and depository services, augmenting Bursa Malaysia’s leadership as the global marketplace for Shariah listing and investments. Datuk Muhamad Umar Swift, CEO of Bursa Malaysia receiving the ‘Best Stock Exchange for Islamic Listings’ Award for 2020 (top image) and 2021 (bottom image) at the IFN Awards 2022 Ceremony held at EQ Hotel, Kuala Lumpur.
- Robinhood Reports First Quarter 2022 Results
April 28, 2022. MENLO PARK, Calif. Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today announced financial results for the first quarter, which ended March 31, 2022. Total net revenues decreased 43% to $299 million, compared with $522 million in the first quarter of 2021. Transaction-based revenues decreased 48% to $218 million, compared with $420 million in the first quarter of 2021. Options decreased 36% to $127 million, compared with $198 million in the first quarter of 2021. Cryptocurrencies decreased 39% to $54 million, compared to $88 million in the first quarter of 2021. Equities decreased 73% to $36 million, compared with $133 million in the first quarter of 2021. Net loss was $392 million, or $0.45 per diluted share, compared with net loss of $1.4 billion, or $6.26 per diluted share in the first quarter of 2021. Share-based compensation expense totaled $220 million for the first quarter of 2022, compared with $9 million for the first quarter of 2021. Share-based compensation for the first quarter of 2021 related entirely to stock options; no expense relating to restricted stock units was recognized because our initial public offering had not yet occurred. Net loss for the first quarter of 2021 also included total expense of $1.5 billion associated with the change in fair value of convertible notes and warrants issued in February 2021. Adjusted EBITDA (non-GAAP) was negative $143 million, compared with positive $115 million in the first quarter of 2021. Net Cumulative Funded Accounts increased 27% to 22.8 million as of March 31, 2022, compared with 18.0 million as of March 31, 2021 as we added 7.1 million new funded accounts primarily driven by large customer interest in cryptocurrencies during the second quarter of 2021, and 0.7 million resurrected accounts, partially offset by 3.0 million churned accounts. On a sequential basis, Net Cumulative Funded Accounts increased slightly compared with 22.7 million as of December 31, 2021. Churn continues to improve and as a percentage of Net Cumulative Funded Accounts has reached one of the lowest quarterly rates we have seen in years. Monthly Active Users (MAU) decreased 10% to 15.9 million for March 2022, compared with 17.7 million for March 2021 during which we experienced high trading volumes and account sign-ups as well as high market volatility, particularly in certain sectors. On a sequential basis, MAU decreased 8% compared with 17.3 million for December 2021. The sequential decline was primarily attributable to users with lower balances, who are engaging less in the current market environment. Assets Under Custody (AUC) increased 15% to $93.1 billion as of March 31, 2022, compared with $80.9 billion as of March 31, 2021, as result of the growth in our user base. On a sequential basis, AUC decreased 5% compared with $98.0 billion as of December 31, 2021, primarily due to decreasing asset values in this market environment, partially offset by an increase in net deposits of 30%. Average Revenues Per User (ARPU) decreased 62% to $53, compared with $137 in the first quarter of 2021. On a sequential basis, ARPU decreased 18% compared with $64 in the fourth quarter of 2021. The decreases were primarily related to lower transaction-based revenue driven by the current market environment, which had a negative impact on the number of traders and notional trading volumes in all asset classes. Cash and cash equiva lents at March 31, 2022 totaled $6.2 billion, compared with $6.3 billion at March 31, 2021. “We're seeing our customers affected by the macroeconomic environment, which is reflected in our results this quarter.” Jason Warnick "We're seeing our customers affected by the macroeconomic environment, which is reflected in our results this quarter," said Jason Warnick, Chief Financial Officer of Robinhood Markets. "At the same time, we've also made progress on our long-term plans and continue to pursue them aggressively." "This quarter saw our product development engine gain velocity with the rollout of some of our most requested features and capabilities,” said Vlad Tenev, CEO and Co-Founder of Robinhood Markets. “With the introduction of the Robinhood Cash Card, the release of crypto wallets to all customers, the addition of new coins to our platform, and our agreement to acquire Ziglu Limited, we’ve made huge strides against our roadmap. Looking ahead, we have a suite of new products and services slated for release that we believe will excite and delight our customers.” Highlights Robinhood delivers major product developments In March, Robinhood introduced the Robinhood Cash Card - one of the few debit cards to offer rewards similar to what customers have come to expect from a credit card. With the Robinhood Cash Card, customers can round up their spending and receive weekly bonuses for them to invest in stock and crypto. For customers who direct-deposit their paychecks, they can access their money two days early and automatically set aside a portion of their paycheck to invest. Over time, additional features and capabilities will be added to the Cash Card - like Instant Savings, which will give customers discounts on items like gas and groceries. Robinhood also extended trading hours in March, with trading now available from 7 a.m. to 8 p.m. eastern time. This is the first step toward offering 24/7 trading and was one of the top-requested features of Robinhood advanced users. Just this week, Robinhood began rolling out Stock Lending, its fully-paid securities lending product, to a small set of customers. Through Stock Lending, customers have the opportunity to earn extra income on the stocks they already own, empowering them to put their investments to work for them and adding a new source of passive income to their portfolios. Robinhood makes significant strides in its crypto business At the beginning of April, Robinhood rolled out crypto wallets to the approximately two million customers on its waitlist and just this week completed the full roll-out to all customers. In addition, Robinhood recently added four new coins: Compound, Polygon, Solana, and Shiba Inu. New coins are one of the most frequently requested products from Robinhood customers and the company expects to add additional coins over time. Crypto customers will also benefit from Robinhood’s planned integration with the Lightning Network, which will power near-instantaneous Bitcoin transfers globally, with transaction fees of less than a penny. Eventually, this technology, once fully integrated, is expected to help accelerate Robinhood’s ability to serve Bitcoin remittances on a global scale - at virtually no cost - and will be important for international expansion. Robinhood is on track with its 2022 roadmap Last quarter, Robinhood announced an ambitious plan for 2022 focused on long-term investing, spending and savings, helping customers move money faster, and opening up its crypto platform to customers internationally. This month, Robinhood signed an agreement to acquire Ziglu Limited ("Ziglu"), a UK-based electronic money institution and crypto-asset firm, subject to regulatory approvals and other customary closing conditions. Ziglu's impressive team of deeply experienced financial services and crypto experts will help Robinhood accelerate its global expansion efforts and break down barriers for customers across the UK and Europe. Tax-advantaged retirement accounts remain on track, with the goal of providing early access to an initial set of customers later this year. Webcast and Conference Call Information Robinhood will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET today, April 28, 2022. The live webcast of Robinhood's earnings conference call can be accessed at investors.robinhood.com, along with the earnings press release and accompanying slide presentation. Following the call, a replay and transcript will also be available at the same website. Monthly Metrics Reports and Financial Outlook Robinhood is going to start reporting certain limited purpose statistical and operational results on a monthly basis. The first report will cover the month of March 2022 (and each of the preceding 12 calendar months) and will be available on the afternoon of April 28, 2022. The report regarding April 2022 will be available in mid-May 2022. These monthly metrics reports ("Reports") will generally be presented without commentary and should be read together with our most recent quarterly and annual results and other filings with the U.S. Securities and Exchange Commission ("SEC"). Reports will be available for download from the “Overview” tab of our Investor Relations website. We expect that Reports regarding each of the first two months of each fiscal quarter will be available around the middle of the following month. We expect that the Report regarding the third month of each fiscal quarter will be available shortly after our quarterly earnings are announced regarding that completed quarter. Anyone who would like to receive an automatic email alert whenever a new Report is available may sign up on the "Resources" tab of our Investor Relations website. With this change, we no longer intend to provide revenue guidance. Previously we shared that, for fiscal year 2022, we expected total operating expenses, excluding share-based compensation, to increase 15%–20% year-over-year and share-based compensation to decline 35%–40% year-over-year. As a result of our cost reduction initiatives (the “Cost Reduction Initiatives”), which include the reduction in force of approximately 9% of our full-time headcount announced on April 26, 2022 and a reduction to headcount targets for the year, we now expect total operating expenses, excluding share-based compensation, for full year 2022 to increase by approximately 2%–5% year-over-year and share-based compensation to decline by approximately 42%–47% year-over-year, in each case before giving effect to the restructuring impacts described below. Additionally, we anticipate recording a restructuring benefit of approximately $7–$19 million in the second quarter of 2022, composed of $17–$23 million of cash restructuring and related charges, offset by $30–$36 million from reversals of previously recognized share-based compensation. Actual results might differ materially from our outlook due to several factors, including the rate of growth in net new funded accounts which affects several costs including variable marketing costs, the degree to which we are successful in preventing fraud, our ability to manage web-hosting expenses efficiently, and our ability to achieve productivity improvements in customer service, among other factors. About Robinhood Robinhood Markets is on a mission to democratize finance for all. With Robinhood, people can invest with no account minimums through Robinhood Financial, LLC, buy and sell crypto through Robinhood Crypto, LLC, spend, save, and earn rewards through Robinhood Money, LLC, and learn about investing through easy-to-understand educational content. Robinhood intends to use the "Overview" tab of its Investor Relations website and its blog, Under the Hood, as means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC’s Regulation Fair Disclosure (Reg. FD). The Overview page can be accessed at investors.robinhood.com/overview and Under the Hood can be accessed at blog.robinhood.com and investors should routinely monitor those web pages, in addition to Robinhood’s press releases, SEC filings, and public conference calls and webcasts, as information posted on them could be deemed to be material information. "Robinhood" and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc. All other names are trademarks and/or registered trademarks of their respective owners. Contacts Investors: Irvin Sha ir@robinhood.com Press: press@robinhood.com Link to press release: https://investors.robinhood.com/news/news-details/2022/Robinhood-Reports-First-Quarter-2022-Results/default.aspx
- CBA reports third quarter cash profits of $2.4 billion as the economic momentum remains strong
May 12, 2022. MELBOURNE. Disciplined execution on the Group’s strategy including continued growth across CommBank’s core banking businesses and sound credit quality underpinned the latest quarterly performance. Continuing focus on disciplined operational performance coupled with volume growth across the Group’s core banking businesses has seen Commonwealth Bank deliver an unaudited cash profit of $2.4 billion for the third quarter of the 2022 financial year. The Bank’s result included a steady operating performance and volume growth compared to the quarterly average of the first half of FY22. This was led by household and business deposits (up $8.5 billion and $2.2 billion respectively), home lending (up $6.9 billion) and business lending (up $3 billion). Operating expenses were 2 per cent lower. The outcome also reflected the continued improvement in economic conditions as the impact of the COVID-19 pandemic fades and investment picks-up, particularly in the business sector and as a consequence of higher government and consumer spending. “Looking ahead, we are well positioned to support business investment to build Australia’s future economy” Matt Comyn Matt Comyn, CBA’s CEO said: “The March quarter underlined the disciplined execution of the Group’s strategy, focused on our core banking franchises, which delivered continued volume growth, sound portfolio credit quality and ongoing support for our customers and communities, in particular to those most affected by extreme weather events in many parts of the country including the catastrophic East Coast floods and WA bushfires.” Another feature of the quarter was the Group’s strong balance sheet settings, a period in which CBA paid $3 billion in half-year dividends to shareholders, added Mr Comyn. As for the previously announced on-market share buy-back of up to $2 billion, this will be conducted across the remainder of the 2022 calendar year. In the meantime, CBA last week obtained regulatory approval from the China Banking and Insurance Regulatory Commission in respect of the partial sale of shares in the Bank of Hangzhou, a transaction that was disclosed in March. “Looking ahead, we are well positioned to support business investment to build Australia’s future economy,” said Mr Comyn. “Through disciplined execution of our strategic agenda, we will continue to deliver for our customers, communities and shareholders as we build tomorrow’s bank today.” Loan impairment expenses remained low in the quarter to 31 March 2022 with a lower level of troublesome and impaired assets as a proportion of Total Committed Exposures (TCE), down $200 million in the quarter to $6.6 billion or 0.51 per cent of TCE. Consumer arrears, as measured by payments by customers on personal loans, credit card borrowings and home loans that are outstanding by three months or more, remained low. Total credit provisions amounted to $5.7 billion as the group continues to adopt a cautious approach to managing potential risks, including higher interest rates, inflationary pressures and supply chain disruptions. “Through disciplined execution of our strategic agenda, we will continue to deliver for our customers, communities and shareholders as we build tomorrow’s bank today.” Matt Comyn The Group’s Common Equity Tier 1 (Level 2) ratio, which is the measurement used by regulators to gauge the financial strength of banks, stood at 11.1 per cent at the end of the quarter. This was down slightly since the half year result after taking into account the payment of $3 billion in dividends to the Group’s 870,000 shareholders. Operationally, the combination of growth and higher non-interest income, driven in part by Treasury earnings, helped offset a lower net interest margin (NIM) caused by elevated swap rates, mix effects and on-going lending competition. Volume growth saw business lending grow at ~1.5 times system during the 12 months to March, household and business deposits was above system and home lending in line with system.
- Thanks to Customer Loyalty, KPR BCA Reaches IDR 100 Trillion
May 12, 2022. JAKARTA. This achievement is proof of the loyalty of BCA's loyal customers in realizing their dream residence through KPR BCA. PT Bank Central Asia Tbk (BCA) managed to record the achievement of Home Ownership Loans (KPR) of Rp. 100 Trillion on April 22, 2022. This achievement is proof of the loyalty of BCA's loyal customers in realizing their dream residence through KPR BCA. To mark this special achievement, BCA held an inscription signing ceremony to capture this special moment by BCA President Director Jahja Setiaatmadja, BCA Vice President Director Suwignyo Budiman and BCA EVP Consumer Loan Felicia M. Simon in Jakarta some time ago. “We should be grateful for the accumulative achievement of the company's credit distribution through this Rp 100 trillion mortgage. We give our highest appreciation to all loyal BCA customers and to all BCA employees for their extraordinary performance which was not easy during this pandemic.” Suwignyo Budiman Jahja said, amid the challenges of the pandemic that has lasted for the past 2 years, the achievement of the company's credit distribution through KPR is a manifestation of BCA's commitment to providing the best service for customers in meeting various needs, especially housing. "We should be grateful for the accumulative achievement of the company's credit distribution through KPR of Rp. 100 trillion. We give our highest appreciation to all loyal BCA customers and to all BCA employees for their extraordinary performance which was not easy during this pandemic," said Suwignyo. Felicia menambahkan, KPR BCA akan selalu berupaya untuk menjadi perbankan pilihan utama masyarakat dalam penyaluran fasilitas KPR melalui: bunga yang kompetitif, pelayanan yang terbaik, kemudahan proses, serta pengembangan dalam hal teknologi dan produk seperti digitalisasi dan inovasi, sehingga Nasabah akan sangat dimudahkan dalam mengajukan KPR. KPR BCA Capai Rp 100 Triliun – Presiden Direktur BCA Jahja Setiaatmadja (kiri) bersama dengan EVP Consumer Loan BCA Felicia M. Simon (kanan) dalam seremoni penandatanganan prasasti pencapaian KPR BCA 100T pada beberapa waktu lalu. Pencapaian tersebut merupakan bukti dari loyalitas nasabah setia BCA dalam mewujudkan hunian impian melalui KPR BCA. Tentang PT Bank Central Asia Tbk (per 31 Maret 2022) BCA merupakan salah satu bank terkemuka di Indonesia yang fokus pada bisnis perbankan transaksi serta menyediakan fasilitas kredit dan solusi keuangan bagi segmen korporasi, komersial, UKM, dan konsumer. Pada akhir Maret 2022, BCA melayani sekitar 30 juta rekening nasabah dan memproses sekitar 60 juta transaksi setiap harinya, didukung oleh 1.241 kantor cabang, 18.050 ATM, serta layanan internet & mobile banking dan contact center Halo BCA yang dapat diakses 24 jam. Kehadiran BCA didukung oleh sejumlah entitas anak yang berfokus pada pembiayaan kendaraan, perbankan Syariah, sekuritas, asuransi umum dan jiwa, perbankan digital, pengiriman uang, dan pemodal ventura. BCA berkomitmen untuk membangun relasi jangka panjang dengan nasabah, mengutamakan kepentingan Bersama, dan menciptakan dampak positif pada masyarakat luas. Dengan lebih dari 25.000 karyawan, visi BCA adalah untuk menjadi bank pilihan utama andalan masyarakat yang berperan sebagai pilar penting perekonomian Indonesia. Untuk informasi lebih lanjut, dapat menghubungi: PT BANK CENTRAL ASIA TBK Divisi Sekretariat & Komunikasi Perusahaan Biro Hubungan Masyarakat Alamat : Jl. MH Thamrin No. 1 Menara BCA Lt. 20 Jakarta Pusat 10310 Telepon : (021) 2358-8000 Fax : (021) 2358-8339 E-mail : corcom_bca@bca.co.id
- Meta Reports First Quarter 2022 Results
April 27, 2022 MENLO PARK, Calif. /PRNewswire/ -- Meta Platforms, Inc. (Nasdaq: FB) today reported financial results for the quarter ended March 31, 2022. First Quarter 2022 Operational and Other Financial Highlights Family daily active people (DAP) – DAP was 2.87 billion on average for March 2022, an increase of 6% year-over-year. Family monthly active people (MAP) – MAP was 3.64 billion as of March 31, 2022, an increase of 6% year-over-year. Facebook daily active users (DAUs) – DAUs were 1.96 billion on average for March 2022, an increase of 4% year-over-year. Facebook monthly active users (MAUs) – MAUs were 2.94 billion as of March 31, 2022, an increase of 3% year-over-year. Ad impressions and price per ad – In the first quarter of 2022, ad impressions delivered across our Family of Apps increased by 15% year-over-year and the average price per ad decreased by 8% year-over-year. Capital expenditures – Capital expenditures, including principal payments on finance leases, were $5.55 billion for the first quarter of 2022. Share repurchases – We repurchased $9.39 billion of our Class A common stock in the first quarter of 2022. As of March 31, 2022, we had $29.41 billion available and authorized for repurchases. Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $43.89 billion as of March 31, 2022. Headcount – Headcount was 77,805 as of March 31, 2022, an increase of 28% year-over-year. CFO Outlook Commentary We expect second quarter 2022 total revenue to be in the range of $28-30 billion. This outlook reflects a continuation of the trends impacting revenue growth in the first quarter, including softness in the back half of the first quarter that coincided with the war in Ukraine. Our guidance assumes foreign currency will be approximately a 3% headwind to year-over-year growth in the second quarter, based on current exchange rates. In addition, as noted on previous calls, we continue to monitor developments regarding the viability of transatlantic data transfers and their potential impact on our European operations, and we are pleased with the progress on a political agreement. We expect 2022 total expenses to be in the range of $87-92 billion, lowered from our prior outlook of $90-95 billion. We expect 2022 expense growth to be driven primarily by the Family of Apps segment, followed by Reality Labs. We expect 2022 capital expenditures, including principal payments on finance leases, to be in the range of $29-34 billion, unchanged from our prior estimate. Absent any changes to U.S. tax law, we expect our full-year 2022 tax rate to be above the first quarter rate and in the high teens. "We made progress this quarter across a number of key company priorities and we remain confident in the long-term opportunities and growth that our product roadmap will unlock," Mark Zuckerberg Webcast and Conference Call Information Meta will host a conference call to discuss the results at 2 p.m. PT / 5 p.m. ET today. The live webcast of Meta's earnings conference call can be accessed at investor.fb.com, along with the earnings press release, financial tables, and slide presentation. Meta uses the investor.fb.com and about.fb.com/news/ websites as well as Mark Zuckerberg's Facebook Page (facebook.com/zuck) and Instagram account (instagram.com/zuck) as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Following the call, a replay will be available at the same website. A telephonic replay will be available for one week following the conference call at +1 (416) 626-4100 or +1 (800) 558-5253, conference ID 22016731. Transcripts of conference calls with publishing equity research analysts held today will also be posted to the investor.fb.com website. About Meta Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology. Contacts Investors: Deborah Crawford investor@fb.com / investor.fb.com Press: Ryan Moore press@fb.com / about.fb.com/news/ Link to Full Press Release https://investor.fb.com/investor-news/press-release-details/2022/Meta-Reports-First-Quarter-2022-Results/default.aspx
- 6th ASIA International Multidisciplinary Conference 2022
June 24-26, 2022. ONLINE. A multidisciplinary pathway to post covid digital transformation. CONNECTING ASIA is a global research network that brings together over 10,000 researchers from 42 countries. We aim to provide researchers with opportunities for learning and networking, while also contributing to the researcher community in a variety of ways. Since 2014, Connecting ASIA has provided full or partial funding to 42 PhD scholars, as well as research grants to over 200 research scholars to present their work at Connecting ASIA conferences and opportunities to publish their work in SCOPUS / ISI indexed journals. More than 7000 researchers have presented their work at Connecting ASIA conferences, and more than 5000 research articles have been published in SCOPUS/ISI indexed journals. With all of these contributions, Connecting ASIA anticipates continued growth in the future. We appreciate your support and contribution to this research network’s strengthening. We hope that as time passes, this bond will grow stronger. Vision CONNECTING ASIA aims to be a premier research and development organization in the Asian region, creating inter-organizational alliances targeted at developing and enhancing institutional and human resources capacities, providing quality services, and contributing to the emergence of a knowledge society on a sustainable basis. Mission Our mission is to establish and nurture alliances among prime institutions in academia, industry, government and society to foster impactful knowledge transfer and human capital development. Values We believe in four core values: Ethics, Trust, Development and Contribution. “Today the technology is rapidly evolving. The exchange of expertise has further stimulated exponential growth in the field of technology at this era of globalisation. Such phenomenal progress has revolutionised almost all areas of human life today.” Dr Imran Qureishi Conference Tracks Science, Technology, Engineering and Mathematics (STEM) Focus Areas: Civil Engineering, Mechanical Engineering, Chemical Engineering, Electrical Engineering, Energy, Marine Engineering, Information technology and Computer science, Bioinformatics, Geoinformatics and real states, Mathematics, Physics, Chemistry and related areas. Economics, Business And Management (EBM) Focus Areas: Economics, Business Management, Accounting and Finance, Management, Marketing, Technology Management, Human Resource Management, Operations Management and related areas. Social Sciences and Humanities (SSH) Focused Areas: Psychology, Education, Linguistics, Civilization and Law, Anthropology and related areas. Social Sciences and Humanities (SSH) Focused Areas: Psychology, Education, Linguistics, Civilization and Law, Anthropology and related areas. Life Sciences (LS) Focus Areas: Environmental Sciences, Biosciences, Pharmacy, Medical Sciences, Earth sciences, Geology, Agriculture, Anatomy, Genetics, Zoology and related areas.
- US Federal Reserve Discussion - Chair Jerome H. Powell. Conversation with Nick Timiraos.
May 17, 2022. NEW YORK. At the Wall Street Journal Future of Everything Festival, New York The Federal Reserve’s Plan for Taming Inflation With inflation at a 40-year high, the Federal Reserve is pursuing a double-barreled response by reducing its asset portfolio and increasing interest rates. But how quickly will these steps bring inflation under control and what are the knock-on effects for the broader economy? Jerome Powell, chairman of the Federal Reserve, joins us for a wide-ranging conversation on the future of the economy. Link to event: https://foefestival.wsj.com/event/the-future-of-everything-festival/#/agenda Welcome to your blog post. Use this space to connect with your readers and potential customers in a way that’s current and interesting. Think of it as an ongoing conversation where you can share updates about business, trends, news, and more. “Do you have a design in mind for your blog? Whether you prefer a trendy postcard look or you’re going for a more editorial style blog - there’s a stunning layout for everyone.” You’ll be posting loads of engaging content, so be sure to keep your blog organized with Categories that also allow visitors to explore more of what interests them. Create Relevant Content Writing a blog is a great way to position yourself as an authority in your field and captivate your readers’ attention. Do you want to improve your site’s SEO ranking? Consider topics that focus on relevant keywords and relate back to your website or business. You can also add hashtags (#vacation #dream #summer) throughout your posts to reach more people, and help visitors search for relevant content. Blogging gives your site a voice, so let your business’ personality shine through. Choose a great image to feature in your post or add a video for extra engagement. Are you ready to get started? Simply create a new post now.
- 10th Annual Vertical Cities
June 27-29, 2022. SINGAPORE. Reimagining High Rises to be Self-sufficient and Nurturing Communities in the Sky Reimagining the role of central business districts in adapting to the people shifting attitude towards cities in the next normal, designing use-neutral tall buildings, with a focus on reducing redundancies and re-appropriating existing buildings, creating novel hybrid environments, incorporating green and social democratic spaces, and integrating sustainable modes of transport is key. Vertical Cities provides a one stop platform to gain a holistic understanding of skyscraper development today. Witness leading architects and sustainability experts participate to engage and discuss the strategies and challenges to counter in creating livable urban communities. “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.” Darwin Speakers Include Marshall Strabala Founder & Design Partner Strabala + Architecture, China & USA Dr Andy Bow Senior Partner, Deputy Head of Studio Foster + Partners, UK David Wallance Founder DRA/W, New York, USA Benjamin Piper Associate Partner, Design Principal Killa Design, UAE Wolf D. Prix Co-founder, Design Principal and CEO COOP HIMMELB(L)AU Michael W. Bischoff Partner Pei Cobb Freed & Partners, New York, USA Astrid Piber Partner UNStudio, Amsterdam, The Netherlands Ahmad Abdelrazaq Senior Executive Vice President Samsung C&T Corporation, Seoul, South Korea Key Sessions Strabala + Architecture, China & USA Social Cohesion and Community within Vertical Cities by Integrating Collaborative Communal Spaces in the Sky Foster + Partners, UK Sustainable Future City Planning Büro Ole Scheeren Transformative Architecture and Verticality DRA/W, New York, USA Making High Rise Affordable by Leveraging Prefab Modular Construction Pei Cobb Freed & Partners, New York, USA Beyond the Point Tower: Creating a Livable City at Height Samsung C&T Corporation, Seoul, South Korea Pushing the Boundaries of Concrete Technology for Ultra High Rise Developments
- Samsung Austin Semiconductor receives awards for water treatment programs
April 25, 2022. AUSTIN. Samsung Austin Semiconductor's commitment to environmental stewardship is being recognized with three awards related to its water treatment programs. On World Water Day (March 22), Evoqua Water Technologies named Samsung Austin Semiconductor the winner of its annual Water Sustainability Award. The award recognizes companies for their water stewardship, including companies using new or existing technologies in innovative, sustainable ways. The award specifically acknowledges Samsung Austin Semiconductor's copper ion exchange process that removes and recovers copper from wastewater prior to discharge in an environmentally-friendly and sustainable manner. Samsung's system also eliminates 1.5 million pounds of sludge from being sent to the landfill annually and conserves more than 1.5 million gallons of water per year. In April, the Texas Commission on Environmental Quality also awarded Samsung Austin Semiconductor with the 2022 Governor's Texas Environmental Excellence Award for its copper ion exchange process in the Technical/Technology category. The Texas Environmental Excellence Awards is an annual awards program that recognizes achievements in environmental preservation and protection. Excellence in Pretreatment For the 10th year in a row, Samsung Austin Semiconductor is being recognized by the City of Austin for Excellence in Pretreatment, an award which honors distinguished Significant Industrial Users who exhibit environmental stewardship by proactively preventing pollution and expertly managing wastewater discharge. "Thank you for continuing to meet all the various regulatory requirements set forth in Austin City Code and for taking innovative approaches to ensure clean water for future generations. Samsung Austin Semiconductor's efforts truly make a positive difference in the Austin community," wrote Austin Water's Environmental-Conservation Division Manager Jay Porter. "Samsung Austin Semiconductor has made numerous strides to address our environmental commitment," said Dr. Sang Sup Jeong, President of Samsung Austin Semiconductor. "It is an honor to receive these awards and we'll continue our efforts to be a leader and steward of our environment in all of our operations and business." To celebrate World Water Day, Samsung Austin Semiconductor invited the Colorado River Alliance's Mobile River exhibit to its campus so employees have the opportunity to learn more about the watershed and how everyone can play a role in protecting and preserving the area's water resources.
- Tata Passenger Electric Mobility proudly showcases its new vision, a concept built on its Pure EV Ar
April 29, 2022. MUMBAI, India. Taking a giant stride towards the next generation of electric vehicles, Tata Passenger Electric Mobility (TPEM), today made a smashing debut with the global unveil of the AVINYA Concept – an expression of the Company’s vision of a pure electric vehicle, based on its GEN 3 architecture. Tata Passenger Electric Mobility (TPEM), today made a smashing debut with the global unveil of the AVINYA concept - an expression of the company's vision on Pure Electric Vehicle based on GEN 3 architecture. Derived from the Sanskrit language, the name AVINYA stands for ‘Innovation’. The AVINYA Concept introduces a new a typology of mobility that liberates enormous roominess and comfort, not restricted by traditional segmentation. It comes packed with new age technology, software and Artificial Intelligence that work in the background to deliver wellness and tranquillity during transit. Providing an extremely premium yet simple and calming customer experience, this concept will be fairly accessible to a majority of customers of fast growing, high volume segments of today. With this, TPEM is all set to unleash a new breed of EVs that will redefine the automobile space. This path breaking EV will be introduced to the market by 2025. Speaking at this landmark occasion, Mr. N Chandrasekaran, Chairman, Tata Sons and Tata Motors said,“While making the AVINYA Concept a reality, the central idea was to offer a mobility solution like no other – a state of the art software on wheels that is well designed, sustainable and reduces the planet’s carbon footprint. Green Mobility is at the nucleus of TPEM, and the AVINYA Concept is the perfect reflection of what the company stands for – a creation that will not only accelerate the adoption of EVs but also lead this movement. Furthermore, at the Tata group, we are uniquely positioned to bring all the expertise that is necessary to build these mobility solutions and we are confident that in years to come we will make a larger and sustainable impact not only in India but globally as well.” Adding to this, Mr. Shailesh Chandra,Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd. said, “It is indeed a matter of pride for us at TPEM to present the AVINYA Concept to the world, a vision pivotal in signalling a ‘New Paradigm’. Holding on to its values of Simplicity, Timelessness, Effortlessness and Grace, the AVINYA is not only a concept but is our new identity, an identity which is here to challenge the status quo. It gives me an intense sense of optimism to present a new typology of vehicles that will introduce the automobile industry to options beyond mobility – a tranquil space which will offer you a complete sensory experience while on the move. At its heart, the AVINYA Concept has ‘IN’, which demonstrates our Indian roots and highlights how we pride ourselves in discovering new ways to move and power vehicles. The AVINYA Concept is the fruition of our first idea built on our Pure EV GEN 3 architecture, enabling us to produce a range of globally competitive EVs. Our vision for pure EVs is focused on delivering wellness and rejuvenation while traveling, backed by cutting-edge technologies, aimed at improving the overall quality of life.” A TIMELESS DESIGN: Originally inspired by a catamaran, the AVINYA Concept is an uncompromising vision for electric mobility. With a new silhouette, this concept is a mixology of the best of the worlds – it a product which combines the essence of a premium hatch to the luxuries and versatility of an SUV and the roominess and functionality of an MPV – all put together to create something new and beautiful. A significant highlight on the front and the rear of the vehicle is the new identity. This new identity as a part of the DRL is a subtle nod to our commitment to enhance the quality of life and is a pivotal step in the evolution of EVs. It is also the manifesto and emphasises the Horizon and the Infinite possibilities that the Gen 3 electrification will offer. Gliding to the sides, one is met by the ‘Butterfly’ doors, which welcome you with open arms to a class leading spacious interior which is sure to make its inmates feel calm. The AVINYA Concept focuses on a human centric design and promises a sensory journey of its own. From the skydome that enhances the overall sense of space and natural light to the functional console inspired steering wheel, to the voice activated systems for a deeper interface for all its passengers, to the sustainable materials being used, that communicate the ethos of the product and finally the finishing touch of the aroma diffuser – that envelopes you in an ambience that is serene and soothing. Furthermore, envisaging a future trend, this concept is designed to believe that lesser screen time is the way to go. Taking this into consideration the AVINYA Concept has been made screen-less, to bar any distractions inside the car and create a stress free environment for the mind and soul. A PURE EV AT ITS CORE: The AVINYA Concept stands for empathetic mobility, a machine that is engineered to be smart, spacious, sustainable yet techy. The agile and robust Pure EV GEN 3 Architecture offers this concept with a flexible design while boasting of next generation connectivity, advanced driver assistance systems and enhanced performance and efficiency. Pioneered out of India for the world, this global platform offers high structural safety and has the next level of water proofing and dust protection, making it ready for all forms of terrains. This architecture is built with the use of next-gen materials, efficient electronic componentry and proprietary energy management strategies & algorithms for efficiency management. Use of light-weight materials, and optimized structure for an EV only powertrain with enabled appropriate stiffness, helps minimize the overall mass, leading to good weight management. Furthermore, the battery used will support an ultra-fast charge capability, in line with the infrastructure evolution, pumping a minimum 500 kms range in under 30 minutes. The overall philosophy for enhanced range would be ‘Minimize- Maximize – Optimize’. Drawing inspiration from human sensory cues whilst promising a stress-free experience with every drive, the AVINYA stands by the concept of minimalism and is a leap forward in the right direction, making it the absolute regiment of sustainable movement. To know more about this impressive Concept, kindly refer to the detailed concept note. About Tata Passenger Electric Mobility Media Contact Information: Tata Motors Corporate Communications: +91 22-66657613 / indiacorpcomm@tatamotors.com
- Rolls-Royce takes step towards net zero ambition with mtu gensets approved for sustainable fuels
May 11, 2022. FRIEDRICHSHAFE, Germany. Rolls-Royce has taken a significant step towards meeting its net zero goals. Power Systems business approves mtu diesel engines for operation with sustainable fuels Full performance in power generation operation without the need for modification Up to 90% CO2 savings possible with hydrotreated vegetable oil Rolls-Royce has taken a significant step towards meeting its net zero goals, set out last year, with the approval by Power Systems of its Series 4000 and Series 1600 diesel engines for use with a range of EN15940-certified synthetic diesel fuels in power generation applications. Following successful testing, including in the field, both types of engines can use a range of sustainable fuels including Biomass to Liquid (BtL), Hydrotreated Vegetable Oil (HVO) and Power to Liquid (PtL) fuels such as e-diesel. They can all be used to replace conventional diesel fuel. "“There is already a lot of interest in HVO in particular from many customers in the energy industry and data center business, who want to improve their carbon footprint," Tobias Ostermaier “There is already a lot of interest in HVO in particular from many customers in the energy industry and data center business, who want to improve their carbon footprint,” explained Tobias Ostermaier, president of the Stationary Power Solutions business unit at Rolls-Royce Power Systems. “The results from pilot customers show a significant reduction in greenhouse gases, nitrogen oxide and particulate emissions by using HVO instead of fossil diesel in their gensets.” Last year Rolls-Royce pledged to prove its most popular in-production engines, including the Series 4000, can be used with sustainable fuels by 2023. The advantages of HVO are clean combustion with a reduction in particulate emissions of up to 80 percent, nitrogen oxide emissions by an average of eight percent and CO2 emissions by up to 90 percent compared to fossil diesel. Because HVO is produced from renewable raw materials, its production, transport, and combustion generate only about as many greenhouse gases as were absorbed by the plants during the growth of the biomass. HVO use significantly reduces CO2, nitrogen oxide and particulate emissions Waste vegetable and animal fats, and used cooking oils, can be used as base materials for HVO. They are converted into hydrocarbons by means of a catalytic reaction with the addition of hydrogen. Through this process, the fats and vegetable oils can supplement diesel as an admixture or replace it completely. The advantages of HVO are cleaner combustion with a reduction in particulate emissions of up to 80%, nitrogen oxide emissions by an average of 8% and – provided the manufacturing process and logistics make use of renewable energy – CO2 emissions by up to 90% compared to traditional diesel. Because HVO fuel is produced from renewable raw materials, its production, transport, and combustion generate only about as many greenhouse gases as were absorbed by the plants during the growth of the biomass. Convincing performance without engine and system modifications The tests confirmed that mtu engines using HVO perform equally as well as engines using diesel in terms of maximum power, load acceptance and fuel consumption. HVO is a drop-in fuel, which means that there are no adaptions needed to the diesel plant infrastructure, hardware or software in order for it to be used. In addition, the storage stability of this synthetic fuel is significantly better than that of biodiesel, making it even more attractive to operators of emergency power systems. Target: 35% greenhouse gas savings by 2030 with new fuels and mtu technologies As part of its sustainability program, Rolls-Royce announced last year that it would realign the Power Systems product portfolio so that by 2030, new fuels and mtu technologies can save 35% greenhouse gas emissions, compared to 2019 levels. The company is already successfully operating an mtu fuel cell system has established a clear roadmap for the introduction of hydrogen engines and is now progressively releasing further engines that can run on sustainable fuels in more applications. For detailed testing results for mtu Series 4000 using HVO, please see our white paper: HVO Fuel proven to be effective for Diesel Generator Sets (mtu-solutions.com) Learn more about our sustainable solutions on our website: Sustainable power that matters (mtu-solutions.com) Press photos are available for download from https://www.mtu-solutions.com/eu/en/news-and-media/media-center.html












