Market Watch

Leading technology heavyweight will spearhead digital transformation offer for clients House337 has appointed digital specialist James Thornett as executive director for experience design with a remit to lead the agency’s digital transformation offer to brands. Taking up the role on February 27th, James will report to House337 group chief executive Phil Fearnley. He will work across existing accounts and prospect for new business. James is a digital leader with 20 years experience, notably launching the Government’s unified GOV.UK web platform in 2012. He joins House 337 from technology start-up Rebellion Defense, where he was head of product, design and delivery until November 2022. House 337 group chief executive, Phil Fearnley says, “Any business these days lives and dies by its ability to respond to the digital revolution. We feel it is vital to offer our clients the very best advice on how to transform their organisations for the new realities. In James, I believe we have found one of the very best practitioners of digital transformation in the UK and our clients will benefit hugely from his expertise. Having James on the team will be like taking out a secret weapon when we are pitching for new work.” James […]

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RIYADH — Justice Minister, Dr. Walid Al-Samaani has said that the world is experiencing rapid changes in all economic and social aspects, and it is the responsibility of all judicial authorities worldwide to keep up with these changes, especially in digital transformation. Dr. Al-Samaani made these remarks during the main session of the International Conference on Justice (ISJ) titled "Future of the Justice System in Light of Digital Transformation." The session also featured the participation of Moroccan Minister of Justice Abdellatif Wehbe, Tunisian Minister of Justice Leila Jaffel, Senior Parliamentary Secretary for Health and Law of Singapore, Rahayu Mahzam, and Vice President of European Union Agency for Criminal Justice Cooperation Bostjan Skrelc. Dr. Al-Samaani emphasized that digital transformation in the world is not just about capabilities and infrastructure, but it is also about the basis of businesses. Therefore, digital transformation in the judicial sector is not just related to the means but also related to the core of the business, controlling procedures, achieving transparency, and monitoring judicial guarantees, as well as shifting the legislative and objective aspects. He added that this conference confirms the Kingdom’s leadership in all aspects, including justice. The Justice Minister emphasized that digital transformation will […]

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Indian Register of Shipping (IRS) entered into a collaboration with Dassault Systèmes to leverage virtual twin technology for driving its digital transformation and boosting operational efficiency. The collaboration involves the use of Dassault Systèmes’ 3DEXPERIENCE platform to optimize the performance and efficiency of complex marine and offshore projects. The platform will enable IRS to enhance and implement data-driven decision making, concept design, engineering, integrated operations, and maintenance processes. “Complex marine and offshore projects need new ways to leverage the advanced technologies that are defining a new era in shipbuilding and gain an edge in the industry,” said Deepak NG, Managing Director India, Dassault Systèmes. “The 3DEXPERIENCE platform and our industry solution experiences like Program Excellence For Sea and Designed for Sea transform shipbuilding practices to support strategic objectives sustainably. The digital management of complex projects, collaboration across multisite ecosystems, efficient production planning, and virtually exploring alternative design scenarios all impact the delivery of high-quality vessels that meet – or better yet – exceed their customers’ expectations.”

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60 percent of CIOs in Asia Pacific will face challenges from line-of-business (LOB) counterparts who can better demonstrate the ability to align technology with the organization’s mission and customers by 2026, according to a IDC report . CIOs who demonstrate a mix of purpose-driven and people skills now colead with their business counterparts to demonstrate and align technologies to sustainable business outcomes. But, many CIOs now often find their voices drowned out by LOB managers who are heavily involved in making technology decisions. This truth has put many CIOs at a crossroads in their careers. If CIOs are to play a technology/business orchestration role in the leadership team, part of their effort will involve building or strengthening relationships with business counterparts. “CIOs are building digital business platforms that can support extensive ecosystems to seamlessly create and deliver products, services, and experiences and to improve on them. In this new world, the role of the CIO has evolved to be one that is a digital business enabler using technology to compete,” says Linus Lai, Chief Analyst and Digital Business Research Lead at IDC A/NZ, in IDC FutureScape: Worldwide CIO Agenda 2023 Predictions — Asia Pacific (Excluding Japan) Implications. IDC’s top […]

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DIFI Consortium PISCATAWAY, N.J., March 06, 2023 (GLOBE NEWSWIRE) — The Digital Intermediate Frequency Interoperability Consortium (DIFI) announced today the addition of new member organizations to its growing family of satellite service, technology, and major user organizations. Joining DIFI in the second half of 2022 were: US Army C5ISR Center Hughes Network Systems Inmarsat SES Engineering Airbus Defense and Space Safran Data Systems Aurora Borealis Networks Rincon Research Corporation With the gain of these members, the DIFI membership now includes nearly 60 companies and agencies including the US Navy, Amazon Web Services, US Space Force, Microsoft, Defense Information Systems Agency, HawkEye 360, Kymeta, Kratos Defense & Space, Cobham and Comtech. “DIFI’s mission is to accelerate the digital transformation of the satellite industry,” said DIFI Board Chairman Stuart Daughtridge. “That work starts with developing and making widely available a simple, open, interoperable Digital IF/RF standard that replaces the natural interoperability of analog IF signals and helps prevent vendor lock-in. That’s why organizations like these are joining DIFI and serving on its Board: to help drive the future of the industry while ensuring that the evolving interoperability standard continues to meet their critical needs.” About DIFI For a half century, satellite […]

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Earlier this week, a Republican bill aimed at preventing pension funds from making investment decisions on the grounds of climate change considerations passed in both houses of Congress. While many expect President Biden to veto the bill and have it all done with, the existence of this bill is a sign of a changing tide—a pushback from conservative U.S. politicians against the ESG investment drive that has been gathering momentum for the past few years. The pushback is not just in Congress, either. In fact, it is much stronger outside Congress. Several states have set their sights on ESG investments and the firms that promote them. Texas and Kentucky are two good examples with their warnings for asset managers to either give up ESG—and the vilification of oil and gas—or lose Texas and Kentucky money. That’s how ESG investing turned from an opportunity to a risk. The Financial Times reported this week that the growing backlash against ESG investing has become a material risk for the profits of asset managers and private equity firms active in that sort of investing. The report cited annual reports by firms such as BlackRock, Blackstone, KKR, and T Rowe Price, saying that these […]

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Keith Anderson of Scottish Power: ‘It only takes us two years to physically build an offshore wind farm but the planning process is fundamentally flawed and means it takes us more like 10 years’ © Charlie Bibby/FT The UK government risks squandering a “God-given” opportunity to kickstart the economy and accelerate the shift to renewable energy by failing to reform the planning process for big infrastructure projects, the head of Scottish Power has warned. Keith Anderson, chief executive of Scottish Power, said that almost two years into the energy crisis the government needed to focus on helping companies speed up the development of wind farms that can help replace expensive gas. “It only takes us two years to physically build an offshore wind farm but the planning process is fundamentally flawed and means it takes us more like 10 years,” Anderson told the Financial Times. “We have got a God-given project of work in this country that’s ready to go, the money is there,” he said. “It would kickstart the economy after Covid and the gas crisis and spread investment throughout the country, with money filtering down through local supply chains,” he added, describing it as “an absolutely colossal […]

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grandriver U.S. Energy Corp (NASDAQ: USEG ) is an oil explorer and producer with unconventional assets in Texas, North Dakota, and the Mid Continent. The company was revamped in 2022 after three private companies contributed their already productive O&G assets to USEG in exchange for an 82% stake in the company. Eighteen months ago, a stagnant exploration company, today USEG is drilling approximately 1.7 thousand BOE daily and has multiplied its proven developed reserves by 14x. Unfortunately, the company’s extraction costs per BOE are too high, given its oil and natural gas production mix. This makes it difficult for the company to profit even with relatively elevated commodity prices. The recent collapse of natural gas prices puts more pressure on the company. Also, USEG engaged in much more expensive acquisitions in 2022 after oil prices spiked, indicating pro-cyclical capital allocation practices. I disagree with other capital allocation policies, like paying dividends and taking debt simultaneously. Further, the company has not yet shown that it can drill efficiently, a requirement for an unconventional producer, given the fast decay of unconventional wells. In this context, I believe USEG is not an opportunity. Note: Unless otherwise stated, all information has been obtained […]

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HONG KONG, March 6 (Reuters) – Canada’s Manulife Financial Corp (MFC.TO) plans at least two more top-tier hires in China this month as it targets the pensions business in the fast-ageing society after taking full control of a joint venture, senior executives said. After becoming in November the first foreign financial firm to receive regulatory approval to wholly own a funds joint venture, Canada’s largest insurer has shaken up the unit’s management by appointing a new chairman and a new general manager. Advertisement · Scroll to continue It is now hiring for two new roles – a deputy general manager for fixed income and a chief operating officer – which it hopes to fill before the end of March. Register for free to Reuters and know the full story Having 100% ownership of a local unit with access to China’s newly launched private pension scheme will help Manulife accelerate its plans to tap the retirement business opportunity, Paul Lorentz, CEO of Manulife Investment Management (Manulife IM), told Reuters in an interview last week. Latest Updates Former top Credit Suisse shareholder sells full stake in bank Analysis: Chinese companies hang onto dollars, hedge to prepare for volatile yuan Swiss National […]

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Bitcoin has shown a large disconnect from the stock market over the last few days, signaling a disruption of positive correlation. Fed Chair Jerome Powell will be testifying in front of congress regarding the economic conditions of the US, among other things. Non-farm Payrolls will be announced after an unusually high uptick in the last jobs report, which will play a pivotal role in Fed’s next interest rate decision. Cryptocurrency markets saw a sudden sell-off on March 2 as a slew of companies, including Coinbase, Paxos, Galaxy and others, dropped Silvergate as their banking partner. As a result, the banking giant’s stock price fell by 66% between March 1 and March 3. As Bitcoin and Ethereum price trade aimlessly, there is no directional bias whatsoever for the general cryptocurrency markets after the Silvergate crisis. While looking at this event through a keyhole might reveal an obvious bearish outlook, taking a step back shows that this nosedive could potentially have an unintended yet bullish effect on the crypto markets for the long term. Also read: First mover Asia: Bitcoin is stuck between Silvergate and China Crypto markets disconnect from traditional Due to the Silvergate fiasco, things have changed drastically for […]

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