ABU DHABI , UAE , Dec. 19, 2024 /PRNewswire/ -- ADGM, the leading international financial centre of Abu Dhabi and a globally recognised hub for asset and wealth management unveiled nineteen major announcements from global financial institutions during the third edition of ADFW. These represent almost USD 635 billion in assets under management (AUM) and follow other Q4 announcements from the world's largest asset managers, BlackRock, PGIM, and Nuveen, which have also been set up in ADGM. This remarkable increase, from USD 450 billion to USD 635 billion , within a year has reinforced the centre's reputation as the region's fastest-growing and one of the world's most dynamic jurisdictions for asset management. This growth has been further bolstered by the establishment of billionaire-led family offices, including those of British businessman Asif Aziz , prominent philanthropist and financial strategist Wafic Said , and Singaporean entrepreneur and real estate leader Kishin RK, underscoring the centre's growing appeal as a global wealth management hub. Commenting on Abu Dhabi and ADGM's continued momentum, H.E. Ahmed Jasim Al Zaabi , Member of Abu Dhabi's Executive Council & Chairman of the Abu Dhabi Department of Economic Development (ADDED) and ADGM said, "These milestones reflect the heart of what makes Abu Dhabi so special—a shared vision of progress, partnership, and possibility. The growing number of global financial leaders and innovators choosing ADGM is a testament to the trust they place in our infrastructure, robust regulations, commitment to excellence and Abu Dhabi's reputation as the world's safest and most dynamic jurisdiction for asset and wealth management. As we welcome these new partnerships, we remain dedicated to driving the growth and diversification of the 'Falcon Economy' and creating opportunities that resonate across industries and borders. It's an exciting moment for ADGM, Abu Dhabi , and all those who are part of this remarkable journey." Larry Fink , Chairman and CEO of Blackrock praised Abu Dhabi commenting, "It's been a long journey watching how Abu Dhabi has matured as an economy. The constant innovation that I'm seeing from the economy and from the leadership. And Abu Dhabi has really positioned itself to become a leader over the next 20 years. Its psychology was different, and now it's blossoming into this magnet of opportunity. With that strength, it is now becoming a foundation for innovation." "We see a real burgeoning of entrepreneurship happening in the region and believe that the Middle East is the next big entrepreneurial hot spot. We've watched this happen before and always had our eye out on areas emerging in terms of entrepreneurship," said Bill Ford , Chairman & CEO of General Atlantic , during the second day of ADFW. Sir Paul Marshall , Chairman and Chief Investment Officer of Marshall Wace said, " Abu Dhabi is such a great place. Abu Dhabi is absolutely nailing it. It's a very attractive place." Confirming their establishment in ADGM during ADFW were leading private equity firms General Atlantic, Lone Star Funds, and Investindustrial along with private credit giants Golub Capital and Polen Capital, insurance manager – Eldridge as well as leading global equity management company, Carta and hedge fund Marshall Wace . This recent wave of commitments from global financial institutions signifies ADGM's leadership in attracting the world's foremost investment firms. Reflecting this confidence and growth, billionaire-led family offices have also been drawn to ADGM, recognising it as a trusted hub for managing and growing wealth. Asif Aziz , Founder and CEO of Criterion Capital commented, " Abu Dhabi's transformation into a global financial powerhouse makes it an ideal base for our operations. ADGM's world-class infrastructure and strategic location provide unparalleled opportunities to forge partnerships that align with our growth ambitions across the UAE and beyond." Building on its role as a leading destination for global investors and asset managers, ADGM is also redefining financial innovation by advancing its digital ecosystem. A cornerstone of this effort was the launch of Finstreet, a first-of-its-kind international securities market and an ecosystem for private securities, which exemplifies ADGM's commitment to integrating cutting-edge digital solutions with its robust financial infrastructure. The week also saw a new funding round for Themis and the entry of international digital pioneers Zodia Markets, Polygon Labs, FJ Labs, Aptos Digital, Chainlinks, Astra Tech and Themis, further solidifying the Emirate's reputation as a global innovation hub. Meanwhile, FinTech Astra Tech's Quantix announcement of a landmark USD 500 million financing from Citigroup, among the largest provided to a UAE FinTech company to date, to expand its CashNow consumer lending platform. Additionally, Themis—renowned for its advanced financial crime prevention technologies—is further reinforcing ADGM's position as a hub for the next generation of financial technologies, secured over USD 9.75 million in scale-up funding, building on its success in partnerships with global leaders, including ADGM underscoring its role in advancing financial crime prevention in innovative regulatory environments. The market announcements were released during the third edition of ADFW held under the theme "Welcome to the Capital of Capital," which gathered more than 20,000 leaders and executives from across the financial services industry, which collectively represented more than USD 42 trillion in assets under management. This wave of newcomers ADFW underscores Abu Dhabi's position as a global financial powerhouse and ADGM's role as a catalyst for economic diversification, attracting top-tier talent, cutting-edge technologies, and transformative investments that are shaping the emirate's future. Logo - https://mma.prnewswire.com/media/2550581/5010772/ADGM_Logo.jpg View original content: https://www.prnewswire.com/news-releases/aum-of-usd-635-billion-at-adfw-caps-stellar-q4-as-trillion-dollar-club-flock-to-adgm-302336607.html SOURCE ADGM

Wall Street Lunch: Adios Bitcoin?

Manufacturer marks Official Supplier status with 5 millionth tankless water heater donation and 50-year anniversary milestone PEACHTREE CITY, Ga. , Dec. 19, 2024 /PRNewswire/ -- Rinnai America Corporation — manufacturer of a leading brand of tankless gas water heaters in North America — is proud to announce a landmark partnership with Homes For Our Troops (HFOT), a nonprofit organization dedicated to building and donating specially adapted custom homes nationwide for severely injured post-9/11 Veterans, to enable them to rebuild their lives. The new agreement makes Rinnai the Official Supplier of water heaters for new homes across the country through 2027. This exclusive collaboration strengthens both organizations' shared commitment to providing Veterans and their families with the resources they need to rebuild their lives after service. Also celebrating 50 years in North America , Rinnai marked the occasion by donating the 5 millionth tankless water heater manufactured at its state-of-the-art facility in Griffin, Georgia for a new home under construction in Texas . "Celebrating 50 years and reaching 5 million tankless water heaters sold in the North American market are significant milestones for us but knowing that our donation is helping a Veteran and their family start a new chapter in life is incredibly meaningful," said Frank Windsor , President, Rinnai America Corporation. "We are honored to help restore some of the freedom and independence to the brave men and women who have sacrificed so much defending our country. Our continued partnership with Homes For Our Troops is a powerful way for us to give back and deliver our brand promise of 'Creating a healthier way of living'." Since its inception in 2004, HFOT has built over 400 homes. Each specially adapted energy efficient home is designed to comfortably raise a family while limiting future expenses. Equipped with Rinnai's durable and highly energy efficient products, the homes constructed as part of this partnership will help reduce the families' long-term utility costs and serve as a safe and welcoming place to call home for years to come. "We are incredibly proud to extend our partnership with Rinnai. The company's passion for assisting Veterans and their families significantly helps us advance our mission of Building Homes and Rebuilding Lives for severely injured post-9/11 Veterans," said HFOT President/CEO, Brig. Gen., USA (Ret) Tom Landwermeyer . "These Veterans face enormous challenges, and through this partnership, we are also providing the comfort and convenience of a high-quality water heater to help create a home that promotes healing and independence." Army SGT Christopher Leverkuhn will receive the 5 millionth product, a SENSEI ® RX Series, for his home currently under construction in Kerrville, Texas . The most advanced condensing tankless water heater on the market, it sets the standard for efficiency at 0.98 UEF and creates a healthier way of living by delivering the ultimate in comfort, smart design and unlimited hot water. Over the next three years, Rinnai will donate appropriate products with features ideal for the hot water demands of each Veterans' home. Many will receive Rinnai's newest condensing tankless water heater, the SENSEI RXP. This product comes equipped with a built-in recirculation pump to deliver faster hot water to the faucet. Rinnai will also provide its RWM200 WiFi module, which can be used with the Rinnai Central TM app to control temperature and recirculation patterns. Veterans may also receive Rinnai's new electric heat pump water heater , one of the most sustainable electric water heating solutions available, meeting highest efficiency standards while reducing energy usage and costs. The agreement highlights the growing commitment of the sustainable manufacturer's corporate responsibility and charitable giving in addressing the needs of Veterans and their families. In addition to HFOT, Rinnai partners with Folds of Honor, a nonprofit organization that provides educational scholarships to the spouses and children of military members who have fallen or been disabled while serving in the United States Armed Forces. These organizations prove that partnerships can lead to lasting change and help those who have given so much for their country. About Homes For Our Troops: Homes For Our Troops (HFOT) is a publicly funded 501(c)(3) nonprofit organization that builds and donates specially adapted custom homes nationwide for severely injured post-9/11 Veterans, to enable them to rebuild their lives. Most of these Veterans have sustained injuries including multiple limb amputations, partial or full paralysis, and/or severe traumatic brain injury (TBI). These homes restore some of the freedom and independence our Veterans sacrificed while defending our country, and enable them to focus on their family, recovery, and rebuilding their lives. Since its inception in 2004, nearly 90 cents of every dollar spent has gone to our program services for Veterans. HFOT builds these homes where the veteran chooses to live and continues its relationship with the Veterans after home delivery to assist them with rebuilding their lives. www.hfotusa.org . About Rinnai: Rinnai America Corporation, a subsidiary of Rinnai Corporation in Nagoya, Japan , was established in 1974 and is headquartered in Peachtree City, Georgia . Rinnai Corporation manufactures gas appliances, including tankless water heaters, a wide range of kitchen appliances, and heating and air conditioning units. As the technology leader in its industry, Rinnai is the largest gas appliance manufacturer in Japan and is the No. 1 selling brand of tankless gas water heaters in the United States and Canada . Annual corporate revenues, including those of its subsidiaries, are in excess of $3.3 billion . With a global perspective to create 21st-century products for the home and business, Rinnai Corporation commits itself to safety and Creating a healthier way of living ® . For more information about Rinnai's entire product line, visit www.rinnai.us . Copyright 2024. All rights reserved. Rinnai ® and Creating a healthier way of living ® are the registered trademarks of Rinnai Corporation used under license by Rinnai America Corporation. View original content to download multimedia: https://www.prnewswire.com/news-releases/rinnai-america-joins-forces-with-homes-for-our-troops-to-aid-injured-veterans-302336611.html SOURCE Rinnai America CorporationLarge political rallies, both for and against Yoon, expected today in run-up to impeachment vote Published: 07 Dec. 2024, 07:00 LEE SOO-JUNG [email protected] Audio report: written by reporters, read by AI Protesters rally and call for the resignation of President Yoon Suk Yeol in front of the National Assembly in Yeouido, western Seoul on Friday. [NEWS1] Political rallies, both for and against, Yoon Suk Yeol's impeachment are set to begin across the capital on Saturday. Traffic controls are expected to follow. The Seoul Metropolitan Police Agency said on Friday that it will restrict traffic in the Yeouido area near the National Assembly as tens of thousands of protesters are likely to gather in Saturday’s demonstration. Over 230 police officers will be deployed for traffic control and safety measures. The protestors are expected to flock on the streets of Uisadang-daero, Yeouigongwon-ro and Eunhaeng-ro, adjacent roads near the parliament in western Seoul. As it marks the first weekend since the six-hour-long introduction of martial law on late Tuesday, a large crowd is expected to gather to protest Yoon. Related Article 70% support Yoon's impeachment after martial law debacle: Survey Public turns out for candlelight vigils protesting Yoon after martial law order — in pictures Large-scale rally paralyzes downtown Seoul as unionists demand Yoon's resignation The liberal Korea Confederation of Trade Unions (KCTU) said it will stage an assembly and march near the parliament from 2 p.m. on Saturday. The KCTU also added that a public candlelight vigil will start at 3 p.m. on the same day. Kim Bong-sik, head of the Seoul police agency, said its personnel will “manage the protests based on public safety and peace” regarding the mass demonstration planned in western Seoul. Also, a conservative civic group will stage a protest advocating Yoon and condemning Democratic Party leader Lee Jae-myung on the same day at 3 p.m. in Gwanghwamun Square in central Seoul. The group reported that around 12,000 participants will gather at its rally. BY LEE SOO-JUNG [ [email protected] ] var admarutag = admarutag || {} admarutag.cmd = admarutag.cmd || [] admarutag.cmd.push(function () { admarutag.pageview('3bf9fc17-6e70-4776-9d65-ca3bb0c17cb7'); });