Business Wire India

To ensure the festive season feels unique and immersive, Hong Kong retailers, businesses and artists have tapped into technology to bring you Christmas like you’ve never seen it before.

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Take a 360-degree virtual tour of Hong Kong’s festive Central Business District (CBD)

Welcome to the joyous world of Christmas Town! Part of 2020 Hong Kong WinterFest, a citywide celebration spearheaded by the Hong Kong Tourism Board, this virtual wonderland will transport you to Statue Square, a historic public space in the heart of Central.

Just like real-life Hong Kong, Christmas Town is surrounded by iconic skyscrapers and all decked out for the holidays, showcasing a towering tree and festive Christmas lodges. Adding an extra Hong Kong touch, Uncle Siu – a popular English educator known for his charming voice – leads visitors through the innovative, 360-degree online experience, where lots of fun, interactive stops await.

In this snow-kissed virtual town, you can choose your own adventure: Learn how to make festive DIY crafts, such as aromatic wreaths, ornaments, pop-up holiday cards or candle holders, via video tutorials; download holiday-themed WhatsApp stickers designed by famous Hong Kong illustrators, like Din Dong, Dustykid and Messy Desk; and tune in to beautiful Christmas carols along the way. To experience the excitement of Hong Kong’s one and only Christmas Town, all you need is a computer or mobile device.

Take a 360-degree virtual tour of Christmas Town, part of the 2020 Hong Kong WinterFest until 3 January 2021.

The world’s first “AI Butterflies Illuminating Interactive Art”

In Wan Chai, a 7-metre-tall, stained-glass butterfly and over 350 little LED butterflies have turned Lee Tung Avenue into a playground of light. Dubbed “Butterflies of Hope,” the world’s first AI-powered butterfly art installation aims to inspire and uplift, reminding visitors of all the hope, love, beauty and positivity in the world.

Every afternoon, when the sun shines high in the sky, the glass installation refracts natural light onto the ground, effectively painting the boulevard with light and colour. Come evening, a music-and-light symphony takes flight as the butterflies ‘dance’ to the sound of music using artificial intelligence.

But that’s not all: The Lee Tung Avenue atrium is also home to a stunning, 12-metre-tall Christmas tree, with some powerful special effects. Combining touchless interactive technology and a special shadow projection technique, the tree projects butterflies onto the clothes of visitors – a feat of art and technology.

Enjoy the festivities at Lee Tung Avenue until 10 January 2021.

Get lost in the Asia debut of Globoscope, a light showcase from France

K11 MUSEA, a new cultural-retail destination and arts hub on the Tsim Sha Tsui promenade, has turned up the Christmas spirit this year with A Very MUSEA Christmas Village. The village spreads joy and wonderment with a roster of artistic cultural experiences, including the Asia debut of Globoscope.

Created by Collectif Coin, a renowned French art lab, the site-specific immersive light show stretches across the Bohemian Garden, a roof-top open space. A 20-minute private experience with Globoscope can be reserved to enjoy the surreal, sensory light exhibit with family or friends. It’s a sight to behold: Glowing spheres dance and swirl in choreographed light movements, while the dramatic Hong Kong skyline shines in the distance.

Adding to the festive vibes, K11 MUSEA has also dreamed up a gorgeous Christmas Forest with glistening golden trees in the mall’s atrium, not to mention a special Santa Muse Parade and a Christmas Market.

Experience A Very MUSEA Christmas Village through 3 January 2021.

“Christmas Every Day” goes high tech with virtual Santa Meet & Greets

For the past 50 years, Harbour City has marked the holiday seasons with larger-than-life Christmas installations and festive surprises. And this year is no different: Harbour City’s “Christmas Every Day” celebration once again promises unforgettable holiday memories, plus a roster of online experiences at your fingertips.

This holiday season, take a virtual tour of the incredible decorations throughout the mall and “check-in” on social media or share your Christmas wish list with Santa during a virtual Meet & Greet. For the little ones, Harbour City has created an interactive online colouring game, where children can dress up their “Monster Friends” – adorable 3D cartoon characters illustrated by Dutch artist Eva Cremers – and then watch their masterpiece come to life!

The holiday extravaganza continues in person. At the “Christmas Lighting Garden” on the Ocean Terminal Deck, you can wade through a sea of illuminated LED clovers and dandelions and enjoy the “Christmas Lighting & Music Show” every evening with the stunning Hong Kong skyline as a backdrop.

Enjoy Harbour City’s “Christmas Every Day” online and offline experiences until 3 January 2021.

Images and videos are available from: https://hktb.filecamp.com/s/2020_Hong_Kong_Christmas/fo

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Business Wire India

Global aviation data firm Cirium today released its new Airline Insights Review 2020 which reveals the shocking impact on aviation of worldwide travel restrictions to curb COVID-19.

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The report shows that the pandemic and its consequences wiped out 21 years of global passenger traffic growth in a matter of months, reducing traffic this year to levels last seen in 1999. In comparison to last year, passenger traffic is estimated to be down 67% in 2020.

At the peak of the disruption in April, scheduled passenger flights dropped significantly to just 13,600 globally on April 25, compared to the year’s busiest day on January 3 when Cirium tracked over 95,000 scheduled passenger flights globally. This marks an extraordinary 86% reduction in flights.

From January to December airlines operated 49% fewer flights in 2020 compared to 2019 – down from 33.2 million flights to just 16.8 million (to December 20).

Domestic travel was down 40% this year, from 21.5 million flights in 2019, while international flights suffered an even more precipitous drop as they were 68% below the 11.7 million flights tracked the year before.

Jeremy Bowen, CEO of Cirium, said: “This severe setback shows the true extent of the challenge faced by the struggling aviation sector as it has sought to reset itself in the new post COVID-19 era.”

“Whereas this time last year we were celebrating the on-time performance of global carriers, this year is dramatically different. Most global airlines were largely on time in 2020; it’s just a shame that the traveling public, airlines and aviation firms worldwide didn’t benefit.

“The factors which usually cause delay, such as congested airspace, taxiways and late connecting passengers simply did not exist in 2020.”

The Cirium Airline Insights Review 2020 replaces Cirium’s annual On-Time Performance Review which for more than a decade has identified the world’s best performing airlines and airports for on-time flight operations.

NEW AIRLINE INSIGHTS REVIEW: FLIGHTS FLOWN DRAMATICALLY DOWN

Global passenger traffic figures reveal a plunge of over two thirds (67%) versus the previous year, with Asia-Pacific continuing to handle over a third of world passenger traffic.

The majority of the scheduled passenger flights flown this year have been domestic – totaling 13 million (77%) with a mere 3.8 million (23%) flying internationally, due to closed borders and limited business travel.

Cirium data analysis recorded Southwest Airlines operating the most flights globally (and in North America), with 854,800 flights in total. Meanwhile, China Southern Airlines (487,700 flights) topped the tables in the Asia-Pacific, Ryanair in Europe (205,000 flights), Azul in Latin America (134,000 flights) and Qatar Airways (82,400 flights) in the Middle East and Africa.

On the ground, Atlanta was the world’s busiest airport, handling over 245,000 arriving flights during 2020, while the world’s busiest air route in both directions was within South Korea, between Seoul and the island of Jeju with 70,700 flights operated.

Forward planning for airlines has dramatically contracted from six- to 12-months for flight scheduling to just six- to eight-weeks – forcing carriers to be nimbler and adapt with greater speed to the rapidly changing rules and travel restrictions around the world.

FLEETS IN STORAGE (BUT NOT THE A320)

As airlines have been forced to drastically reduce the number of aircraft still in service, those still flying are operating significantly fewer hours.

For example, narrowbody aircraft operated just six to seven hours a day in Q3 2020 compared to nine to 10 hours a day in the same period last year.

While up to 30% of the global passenger fleet remains in storage there are signs of recovery on the horizon, with only 10% of short-haul Airbus A320neo aircraft currently in storage showing narrowbody aircraft leading the recovery and domestic and short-haul travel returning first.

With domestic and short-haul services ruling the day, the world’s most used aircraft type was the Airbus A320 with Cirium tracking 5.49 million flights throughout 2020.

SEVEN TRENDS IDENTIFIED BY CIRIUM

“Airlines will have a way before returning to 2019 levels particularly as international travel is significantly down and showing only slow signs of recovery, mainly China and Southeast Asia,” Jeremy Bowen added.

“But Cirium is confident aviation will weather this difficult and terrible year and emerge in better shape – with younger more fuel-efficient aircraft and right-sized fleets – to gradually navigate their way to recovery in the years ahead.”

The seven key trends outlined by The Cirium Airline Insights Review 2020 for next year include:

1. The consolidation of airlines, particularly in Asia-Pacific where more domestic competitors will merge or be acquired.
2. New-generation aircraft like the A320neo and the return of the 737 Max, will provide reduced operating costs.
3. Surplus aircraft will be retired and the Boeing 747 and the Airbus A380 are projected to support the rising demand in the denser leisure markets.
4. In Q4 we saw a 78% plunge in bookings compared to the same period last year – this will naturally change the way the industry forecasts demand, we are seeing on-line search and sentiment becoming the primary indicators to calculate demand.
5. Airlines will need to deploy moredynamic scheduling with the increased volatility of flight scheduling, as the booking window has fallen from six- to 12-months to just six- to eight-weeks.
6. The implementation of AI technology will accelerate to automate the traveler experience and real-time proactive information will become more critical.
7. Aircraft leasing will push past 50% becoming the major manner in which aircraft are financed.

To read the full Cirium Airline Insights Review 2020 – click here.

Bowen thanked the OTP board members comprised of Henry Harteveldt at Atmosphere Research group and Dr. Mario Hardy at Pacific Asia Travel Association (PATA) for their insights and contributions to the Airline Insight Review 2020.

For further information please visit www.cirium.com and follow Cirium updates via LinkedIn and Twitter.

About Cirium
Cirium brings together powerful data and analytics to keep the world moving. Delivering insight, built from decades of experience in the sector, enabling travel companies, aircraft manufacturers, airports, airlines and financial institutions, among others, to make logical and informed decisions which shape the future of travel, growing revenues and enhancing customer experiences. Cirium is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.

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Business Wire India

• Celltrion submitted today an application for Conditional Marketing Authorisation of CT-P59, an anti-COVID-19 monoclonal antibody treatment candidate to the Korean Ministry of Food and Drug Safety (MFDS)
• Celltrion plans to submit Emergency Use Authorisation (EUA) to the U.S. FDA and Conditional Marketing Authorisation (CMA) to the European Medicines Agency (EMA) for CT-P59 in the coming months
• Celltrion successfully completed its global clinical trial of CT-P59, meeting objectives of clinical endpoints; top-line data to be announced in the first half of 2021  

Celltrion Group has submitted today a formal Application for Conditional Marketing Authorisation (CMA) to the Korean Ministry of Food and Drug Safety (MFDS). This submission is based on the data from global Phase II/III clinical trial of CT-P59, meeting objectives of clinical endpoints.

Celltrion has previously enrolled 327 patients with mild-to-moderate symptoms of COVID-19 across three groups (placebo, low concentration, high concentration) to evaluate the efficacy and safety of CT-P59 in combination with standard of care in patients with SARS-CoV-2 infection. The top-line data of the global Phase II/III clinical trial of CT-P59 are to be presented in the first half of 2021.

“Today’s filing for Conditional Marketing Authorisation in Korea is a significant milestone in the fight against COVID-19,” said HoUng Kim, Head of Medical and Marketing Division at Celltrion Healthcare. “We remain committed to closely working with the regulatory agencies worldwide including the U.S. FDA and the European Medicines Agency (EMA) to ensure that patients around the world have access to safe and effective treatment against COVID-19 as early as possible.”

Celltrion plans to initiate a global Phase III clinical trial, a pivotal part of the study in more than 10 countries to obtain more comprehensive safety and efficacy results of CT-P59. The company plans to submit Emergency Use Authorisation (EUA) to the U.S. FDA and Conditional Marketing Authorisation (CMA) to the European Medicines Agency (EMA) for CT-P59 in the coming months.

– ENDS –

Notes to Editors:

About Celltrion Healthcare

Celltrion Healthcare is committed to delivering innovative and affordable medications to promote patients’ access to advanced therapies. Its products are manufactured at state-of-the-art mammalian cell culture facilities, designed and built to comply with the US FDA cGMP and the EU GMP guidelines. Celltrion Healthcare endeavours to offer high-quality cost-effective solutions through an extensive global network that spans more than 110 different countries. For more information please visit: https://www.celltrionhealthcare.com/en-us.

About COVID-19^1,2

Coronaviruses (CoV) are a family of viruses that lead to illnesses from the common cold to severe diseases. Novel coronavirus SARS-CoV-2 is responsible for the disease COVID-19, this new strain, discovered in 2019, is behind the ongoing pandemic outbreak.

The most common signs of COVID-19 include fever, dry cough and tiredness; however, people may also experience other symptoms including shortness of breath and breathing difficulties. Most people infected with the virus will exhibit mild to moderate symptoms however older people, and those with existing underlying conditions such as cardiovascular disease and diabetes are more likely to develop a more severe form of COVID-19.

Please find up to date information about the outbreak via the World Health Organization at https://www.who.int/health-topics/coronavirus#tab=tab_1.

About CT-P59 (Regdanvimab)

CT-P59 was identified as a potential treatment for COVID-19 through screening of antibody candidates and selecting those that showed the highest potency in neutralising the SARS-CoV-2 virus including the mutated G-variant strain (D614G variant). In pre-clinical data the treatment candidate demonstrated a 100-fold reduction in viral load of SARS-CoV-2, as well as a reduction in lung inflammation.³ Results from the global Phase I clinical trial of CT-P59 demonstrated promising safety, tolerability, antiviral effect and efficacy profile in patients with mild symptoms of COVID-19.3

FORWARD LOOKING STATEMENT

Certain information set forth in this press release contains statements related to our future business and financial performance and future events or developments involving Celltrion/Celltrion Healthcare that may constitute forward-looking statements, under pertinent securities laws.

These statements may be identified by words such as “prepares”, “hopes to”, “upcoming”, ”plans to”, “aims to”, “to be launched”, “is preparing, “once gained”, “could”, “with the aim of”, “may”, “once identified”, “will”, “working towards”, “is due”, “become available”, “has potential to”, the negative of these words or such other variations thereon or comparable terminology.

In addition, our representatives may make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Celltrion/Celltrion Healthcare’s management, of which many are beyond its control.

Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this presentation are based upon what management of Celltrion/Celltrion Healthcare believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Celltrion/Celltrion Healthcare undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

References

¹ Coronavirus. World Health Organization. Available at: https://www.who.int/health-topics/coronavirus#tab=tab_1 Last accessed: December 2020
² Coronaviruses. National Institute of Allergy and Infectious Diseases. Available at: https://www.niaid.nih.gov/diseases-conditions/coronaviruses Last accessed: December 2020
³ Celltrion. Data on file

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Business Wire IndiaIEEE, the world’s largest technical professional organization dedicated to advancing technology for humanity, today announced Deepak Mathur as Director of the IEEE Asia-Pacific Region (R10) for the year 2021-2022.
 
The IEEE Region 10 represents the largest and most diverse geographical area for IEEE containing 26 countries with 59 geographical sections consisting of 122,000 members. This is also the fastest-growing region in IEEE with 48,000 student members. Each year, IEEE conducts 750 technical conferences in the region. Authors from Region 10 annually publish over 115,000 technical papers in IEEE publications.
 
Deepak, a graduate of IIT Roorkee in India, has a long track record as an IEEE Volunteer, serving in various capacities over the last two decades. Mathur is a member of IEEE-HKN, the international honor society of the IEEE and served as IEEE India Council Chair in 2015-16. Mathur has received the prestigious IEEE Region 10 Outstanding Volunteer Award and the IEEE MGA Achievement Award.
 
“Technology will shape the future of this region and Asia-Pacific will be a leader in artificial intelligence, electric and autonomous vehicles, 5G, robotics, renewable energy, gaming and entertainment,” said Deepak Mathur, IEEE Region 10 (Asia-Pacific) Director 2021-2022. “I see immense opportunity for IEEE to be part the rapid technological progress in the Asia-Pacific region. My focus during my tenure will be on young professionals and women in technology.”
 
Furthermore, Deepak says, “The Asia-Pacific region is focused on development in education, technology and on economic progress. There is an opportunity for IEEE to be relevant in each and every country in this region and provide support for technical education, skills development, research and innovation. I am very passionate about the opportunities for IEEE humanitarian programs and look forward to deepening the partnerships between industry and academia through IEEE in the region.”

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Business Wire India

JPMorgan Chase & Co. (NYSE: JPM) and cxLoyalty Group Holdings today announced they have signed an agreement for JPMorgan Chase to acquire the Global Loyalty business of cxLoyalty Group Holdings. The deal includes cxLoyalty’s leading technology platforms, full-service travel agency, gift card, merchandise, and points bank businesses.

“This investment demonstrates our commitment to deliver exceptional travel benefits at-scale to our large and rapidly growing customer base. People across the globe want to vacation and travel again, and hopefully that will become a reality for many in the near future. Acquiring the travel and rewards businesses of cxLoyalty will provide enhanced experiences to our millions of Chase customers once they are ready, comfortable and confident to travel,” said Marianne Lake, Chief Executive Officer of Consumer Lending at JPMorgan Chase.

cxLoyalty is a leading loyalty and technology solutions company with over 40 years of experience. Their expertise in designing, administering and fulfilling loyalty programs complements JPMorgan Chase’s reputation of providing customers with elevated and differentiated value. The deal is expected to accelerate the strong foundation built in loyalty, including for Chase’s Ultimate Rewards platform and cxLoyalty’s existing clients, to enable a more holistic, end-to-end customer travel journey for all customers. The cxLoyalty brand and existing client relationships will continue to be led by cxLoyalty Group CEO Todd Siegel.

“JPMorgan Chase is the right partner to further invest in our leading loyalty business,” said Todd Siegel, Chief Executive Officer of cxLoyalty. “This partnership allows us to strengthen and expand our technology solutions, rewards content and world class personalized customer experience for our Fortune 500 clients and their millions of customers, globally.”

Ms. Lake adds, “We welcome Todd and cxLoyalty to JPMorgan Chase, and look forward to creating more value for our shared customers and clients.”

JPMorgan Chase credit card customers will continue using Ultimate Rewards as usual and over time, will have access to enhanced travel experiences.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

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Business Wire India

Kymeta (www.kymetacorp.com) — the communications company making mobile global — announced today that Hanwha Systems (HSC) (www.hanwha.com), a leading global solutions company that provides differentiated smart technologies in defense electronics and information infrastructure, has signed an agreement to invest $30 million to back the development of Kymeta’s next generation solutions, the Kymeta u8™and Kymeta Connect™.

The investment will further Kymeta’s global market reach, accelerate production of Kymeta products and solutions, and improve the overall growth trajectory of the company. The funding is anticipated to support increased unit production, an enhanced customer experience, and the ongoing development of Kymeta’s next generation capabilities. HSC aims to support Kymeta’s metamaterial-based antenna technology and gain a foothold in the rapidly growing Low Earth Orbit (LEO) antenna market. With the capital investment and upon regulatory approvals, HSC will also receive a seat on the Kymeta Board of Directors.

“The objective of our investment in Kymeta is to enter the LEO satellite antenna market early on, and diversify our technology portfolio,” said Youn Chul Kim, CEO of Hanwha Systems. “With the expertise of HSC’s top-notch defense communication and radar technologies, we are joining hands with this promising U.S. satellite antenna company. All these efforts will further strengthen HSC’s aerospace systems capabilities.”

The investment follows the commercial availability of Kymeta’s next-generation antenna, terminal, and services on November 30, 2020. Kymeta offers seamless and uninterrupted mobile satellite-cellular connectivity to satisfy the overwhelming demand for communications on the move. Kymeta’s new products and services offer a breakthrough in performance, ease of use, and affordability. The company anticipates that these solutions will further enhance its position in both commercial and government markets.

“Support from HSC will help us expand our reach and drive the development and productization of our meta-material based antenna technology,” said Doug Hutcheson, Executive Chairman, Kymeta. “LEO antenna solutions will become preferred for latency-sensitive and highly mobile applications as additional LEO satellites are launched and constellations are deployed. Kymeta’s solutions work on existing GEO networks and are LEO upgradeable. We look forward to working with HSC to develop technologies and solutions that are reliable and critical for communications on the move.”

PJT Partners served as financial advisor and placement agent to Kymeta Corporation with respect to the capital raise.

About Kymeta

Kymeta is unlocking the potential of broadband satellite connectivity, combined with cellular networks, to satisfy the overwhelming demand for comms on the move and making mobile global. Lepton Global Solutions, a Kymeta company, hosts the company’s satellite connectivity solutions and offers unique, complete, and turnkey bundled solutions to the market based on best in class technologies and tailored customer-centric services that meet and exceed customer mission requirements. These solutions in tandem with the company’s flat-panel satellite antenna, the first of its kind, and Kymeta Connect™ services provide revolutionary mobile connectivity on satellite and hybrid satellite-cellular networks to customers around the world. Backed by U.S. and international patents and licenses, the Kymeta terminal addresses the need for lightweight, slim, and high-throughput communication systems that do not require mechanical components to steer toward a satellite. Kymeta makes connecting easy – for any vehicle, vessel, or fixed platform.

Kymeta is a privately held company based in Redmond, Washington.

About Hanwha Systems

HSC is a leading global solutions company providing differentiated smart technologies in defense electronics and information infrastructure. Since its founding in 1978, Hanwha Systems has significantly advanced the defense capabilities of South Korea’s military. The company has spent more than 40 years developing technologies used globally for surveillance, reconnaissance, control, communication, computer, and intelligence (C4I), naval and land.

For more information, visit kymetacorp.com.

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Business Wire IndiaAiming to champion fair and responsible lending practices in consumer finance, the Fintech Association for Consumer Empowerment (FACE) today published the ‘Ethical Code of Conduct (FACE CoC)’ to promote best guidelines in digital credit lending and to safeguard consumer’s rights and interests. With the Digital India initiative, driving a digitally empowered society and knowledge economy, maintaining an ethical code of conduct with larger accountability and transparency is essential for enabling robust financial inclusion in India.

FACE is a registered not-for-profit industry association formed by Fintech leaders with an intention to support the Government of India’s vision in accelerating financial inclusion and meeting the massive credit demand from consumers. The FACE ethical code of conduct (FACE CoC) is designed to prevent the rise of unwanted practices that could impact the digital lending ecosystem or adversely affect consumer confidence, regulators or other market participants.
 
The set of principles listed in the FACE Code of Conduct (FACE CoC) will help safeguard consumer interest and introduce transparent and fair business practices among financial institutions.

FACE ‘Ethical Code of Conduct’ (FACE CoC) has set the following standards for the members:
                                                                                                               

1. Transparency: To build high level of trust and greater understanding about products, pricing and services among customers, Fintech and NBFCs should communicate and practice absolute transparency to gain and maintain customer confidence and satisfaction.
2. Disclosure of all cost to customers: Members must unambiguously enlist all costs and fees related to the product or service offered. A detailed description of all costs such as conditional or default costs, repayment schedule with exact timelines, pre-payment fees, penalties must be explicitly provided to customer for ease of understanding.
3. Pricing and Cost of Credit: Members are required to exhibit higher level of transparency to guard customers against adverse pricing that includes any misleading or complex element in cost structure, advance disclosure of interest rates, late fees policies in accordance with the given guidelines and derive accurate assessment of the customers eligibility for a specific financial product.
4. Fair Treatment: Treating all customer equally should be at the heart of Fintech & NBFC’s business outreach. Members are encouraged to demonstrate fair and ethical practices (as published by the regulators) during the entire customer engagement lifecycle.  
5. Collection & Services: Financial institutions must build their debt collection policy to maintain the highest level of dignity and trust with regard to their customers. From providing timely and clear information on outstanding dues to providing adequate training for staff and representatives, it should be their top priority to foster confidence and develop a long lasting relationship with the customers.
6. Data Privacy: Protecting customer’s confidential data is of paramount importance in the digital economy. Large volume of sensitive data should be collected and storedas per the customer’s consent. They must refrain from misusing customer’s personal data that can potentially cause harm to the customers or with their close acquaintances.
7. Resolve customer Grievances:  Provide access to fair and efficient resolution to address customer complaints that are in compliance within the defined regulatory framework. Additionally, implement a robust redressal framework that ensures customer satisfaction and implement continuous improvement process to reduce challenges, barriers and friction.

FACE is committed to work along with regulatory bodies in promoting and monitoring the highest standards of fair practices for strengthening the digital credit lending landscape in India. The association plays a pivotal role in bridging synergies between the consumers, regulatory bodies and consumer lending organizations which can help accelerate penetration of the underserved (digital) consumer finance ecosystem across India.

For detailed FACE Code of Conduct, please visit – https://faceofindia.org/codeofconduct.html

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Business Wire India

Vietnam’s largest ICT firm FPT Software has opened a new office in India, adding to its global footprint of more than 50 offices across the Asia Pacific, Europe, North America, and the Middle East. The company sets to build this branch as a Global Delivery Centre within the next three years, its 23rd worldwide.

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The new branch, FPT India, is based in the country’s southern Hyderabad city, one of the top outsourcing destinations in India and also home to more than 600,000 IT employees. Here the company joins other IT industry leaders such as Infosys, Tata Consulting Services, Accenture, Wipro, and so on.

“FPT Software’s expansion to the India market demonstrates our strong resources and capabilities, as well as representing our commitment to accelerating digital transformation in the Asia Pacific region”, said Phung Sy Bay, FPT India CEO. “The IT industry is a key driver of India’s economy. The IT workforce here is highly skilled, multilingual, capable of carrying out 24/7 shift work, as well as having a wealth of experience and technical know-how. I believe that we have huge potential to tap into, helping more and more Indian clients transform their business operations and gain competitive edges in the market”, he added.

FPT India is now working with multiple industry giants in various sectors, such as aviation, healthcare, telecommunications, and automotive. Due to high customer demands and the branch’s expansion ambition, the company is actively looking to recruit more than 1,000 technology professionals in delivery, managed services, and project management within the first three years.

“As more and more businesses turn to digital technologies to address their evolving issues, building a skilled workforce is essential. At FPT India, we offer great opportunities for people to constantly learn and grow through challenging projects, diverse clientele, and a collaborative environment. We really look forward to working with IT professionals who are ready to take on this challenge”, he added.

Since 2019, FPT Software shifted its core strategy and service offering to digital transformation, after two decades of leading Southeast Asia in IT outsourcing. The company sets to become a billion-dollar IT and digital transformation services provider by 2024.

About FPT Software

FPT Software is a global technology and IT services provider headquartered in Vietnam, with more than USD 500 million in revenue and 16,000 employees in 25 countries. As a pioneer in digital transformation, the company delivers world-class services in Smart factory, Digital platforms, RPA, AI, IoT, Cloud, AR/VR, BPO, and more. It has served 700+ customers worldwide, a hundred of which are Fortune Global 500 companies in the industries of Automotive, Banking and Finance, Logistics & Transportation, Utilities, and more. For more information, please visit www.fpt-software.com.

About FPT India

Address: 1st floor ASR CREST
Plot No.42&43, Image Garden Road, Madhapur, Hyderabad – 500081, India
Tel.: (091) 916-047-7345

Contact person: Phung Sy Bay
FPT India CEO
Email: [email protected]

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Business Wire IndiaCarrier’s OptiClean™ Dual-Mode Air Scrubber & Negative Air Machine has been named as one of TIME’s 100 Best Inventions of 2020. The OptiClean was developed through rapid innovation in early 2020 to help support infectious isolation rooms in hospitals. TIME featured OptiClean in the Medical Care category of its prestigious annual list that recognizes 100 ground-breaking inventions that are making the world better and smarter. Carrier is a part of Carrier Global Corporation (NYSE: CARR), a leading global provider of healthy, safe and sustainable building and cold chain solutions.
 
“We are honored the OptiClean is being recognized by TIME for a product we developed and brought to market in record time while maintaining strict standards to ensure the highest quality,” said Carrier Senior Vice President, Engineering, Chris Kmetz. “At Carrier, we’re committed to doing our part to develop smart, sustainable and efficient solutions that will address our most critical needs.”
 
At the onset of the pandemic, Carrier invented the OptiClean as a negative air machine for hospitals treating COVID-19 patients to help hospitals protect caregivers, workers, and patients. OptiClean can plug into standard wall outlets and has a footprint of less than three square feet. As an air scrubber OptiClean can improve the indoor air quality of classrooms, restaurants, dental offices, commercial buildings and more, by pulling in air, scrubbing it using a HEPA filter, and then exhausting cleaner air back into the room, reducing contaminants in the air and offering further protection as part of an overall mitigation strategy.
 
OptiClean is one of the solutions offered through Carrier’s Healthy Buildings Program, an expanded suite of advanced solutions to help deliver healthier, safer, more efficient and productive indoor environments and is expected to be available in India market in early January. To view the full TIME 2020 Best Inventions list visit time.com/best-inventions-2020.

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Business Wire IndiaIndia’s first International Financial Services Centre (IFSC) at the Gujarat International Finance Tech City (GIFT City) made its global mark, being named among the ‘top emerging business hubs in the world’. The latest Global Financial Centers Index, London in September 2020 mentions the IFSC at GIFT City among 15 centers which globally, are likely to gain greater significance over the next 24 months.
 
There are three different structures of IFSCs: Full-service finance centre (Tokyo and New York), which largely support a large domestic economy; Offshore financial centers (Mauritius) which may not have a robust domestic economy but have international access and acceptance. The third, which India has adopted, is the hybrid structure (Singapore), which supports both, local and global business. Effectively, GIFT IFSC will provide an ideal for both, global and domestic players.
 
Going beyond just being Prime Minister Narendra Modi’s dream project, GIFT IFSC empowers the Indian Banking and Financial Services and Insurance (BFSI) sector. It enables Indian business organizations to compete with global players – without the need to set up an office at global finance centers like Singapore, Dubai or London. The recent past has seen it expand areas and activities which can be based within the IFSC, further empowering India’s competitiveness across global platforms.
 
Though India is a late entrant in the IFSC space, GIFT IFSC has made its presence felt at a time when there are more opportunities in the financial world; and India offers huge potential that can be leveraged. The game-plan of tapping into the domestic economy and the Indian diaspora will pay rich dividends, and will underscore the growth of GIFT IFSC.

Over the past year, announcements which have created a buzz in India’s business network include setting up an International Bullion Exchange (IBE) within GIFT IFSC City, with the promise of making India an important hub in global bullion trade. Similarly, approval to the Stock Holding Corporation of India (SHCIL) to start its custodial services in GIFT City too augurs well for India’s global trade. An international logistics park being set up within GIFT City seeks to boost FDI and bullion trades.
 
The recent changes in tax regulations such as waiver of several taxes like GST, dividend distribution tax and capital gains tax for entities operating in the IFSC, have ensured a tax and supportive regulatory framework at GIFT IFSC, comparable to any global financial center.

These announcements come in the backdrop of GIFT IFSC reflecting growth in not just the global financial circuit, but also as a global trade and business hub, creating large trade volumes. With the Indian economy in resurgence mode, especially post the pandemic, the positive steps reinforce the role of Indian financial services across the global marketplace, and GIFT IFSC is at the centre of it all.
 
Created with the aim of providing a level playing field for Indian business in the global markets, GIFT IFSC offers flexibility in financial transactions with lower taxes and easier regulations as compared to other Indian hubs. It offers trading in equities, currencies, and commodities, as well as a listing of international bonds. Future plans for GIFT IFSC include creation of a fintech hub, another area which shows potential is aircraft leasing.
 
As India’s first multi-service special economic zone with IFSC status, GIFT IFSC caters to the large financial services market as also forex and commodities. It offers world-class infrastructure and hi-tech facilities. Within the IFSC, Hiranandani Signature is the first fully functional commercial space that incorporates green and sustainable design as per global best practices.
 
GIFT IFSC is gradually living up to its potential of being an investment gateway for India. Apart from providing a global financial platform, it also provides easy access to the fast-growing Indian economy for global investors. Volumes will witness fast growth as domestic players are encouraged to commence their global operations from GIFT IFSC.
 
The way ahead will be to work on building the ecosystem which ensures that the IFSC is on way to success. With a reinvigorated regulator and regulatory framework, it will go a long way in positioning India as an international financial center.

For those who will be part of this process at GIFT IFSC, Hiranandani Signature offers ‘ready to move in’ commercial space options. It facilitates ‘early mover advantage’ which will help grow business opportunities. GIFT IFSC is an ideal launch-pad for global trade activities, and Hiranandani Signature offers the perfect ‘plus and play’ platform to tap into the vibrant global market.

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