Category: Press Releases

RIYADH, Saudi Arabia, May 26, 2025 (GLOBE NEWSWIRE) — Over the past decade, the Saudi Capital Market Authority (CMA) has methodically advanced the Kingdom’s capital market reforms, gradually opening its financial markets to international investors. This transformation has attracted substantial global institutional interest, with foreign holdings reaching approximately SAR 423 billion by the end of 2024. The recent introduction of the Offshore Securities Business License underscores Saudi Arabia’s ambition to establish itself as a leading regional and global financial center.

The QFI program in 2015 was the first program to provide direct access into Saudi markets for foreign investors. Prior to the QFI program, foreign investors could only access Saudi equities through swap arrangements, once foreign institutions qualified as QFIs, the program created a direct way for foreign institutions to transact in the Saudi market, further expanding the overall market access.

Since then, the CMA has gradually dismantled many of the restrictions that once limited foreign participation. In 2018, asset thresholds for QFI eligibility were lowered, per-investor ownership caps were raised from 5 to 10 percent, and the pool of eligible investors was expanded.

Also, improvements to corporate governance, financial disclosure, and market infrastructure made Saudi Arabia’s capital market more transparent and credible. These reforms helped the Kingdom secure inclusion in the MSCI and FTSE Russell emerging market indices in 2019, a development that catalyzed massive capital inflows.

The impact was instant, QFI owned SAR 13.7 billion in Saudi market in 2018. That figure increased to SAR 134.48 billion in 2019, coinciding with index inclusion. By the end of 2024, foreign investors held about SAR 423 billion in equities—up from around SAR 86 billion just six years earlier.

Beyond these broad reforms, the CMA has continued to refine foreign access. In January 2025, it published a landmark rule change permitting foreign ownership in Saudi-listed companies that own real estate assets in the holy cities of Makkah and Madinah. Previously, such ownership was prohibited due to restrictions on property in the two cities. Under the new regulation, non-Saudi investors—whether individuals or institutions—can now own up to 49% jointly of shares or convertible debt in these companies.

The CMA also recently published a framework for a new offshore license, intended to allow financial institutions to conduct securities business through a regional headquarters. While still pending implementation, this initiative aims to position the Kingdom as a regional and global financial hub for securities.

This Offshore Securities Business License will enable licensed institutions to carry out securities activities, as well as manage investment funds that invest in securities within the Kingdom. These services may be provided to foreign clients outside the Kingdom, in addition to a specified category of local clients.

Additionally, the license will allow its holder to invest in the Saudi capital market without the need to meet the qualification requirements typically imposed on qualified foreign investors. In addition, this license will enable its holder the access to a broader client base, including transactions with sovereign investment funds such as the Public Investment Fund, which manages over SAR 3.5 trillion in assets in 2024, as well as pension funds within the Kingdom.

The offshore licensees and structure also present other benefits to developing and establishing private investment funds in Saudi Arabia. Offshore licensees will have flexible contractual terms as they will focus on addressing a complex and sophisticated investment needs.

Taken together, these reforms represent one of the most comprehensive efforts among emerging markets to integrate with global capital flows. The CMA’s approach—measured, regulatory-driven, and clearly aligned with Vision 2030—has generated confidence among international investors. While challenges remain, particularly in implementation and investor onboarding processes, the trajectory is clear. Saudi Arabia is building a market that not only attracts foreign capital, but retains it through stability, structure, and institutional trust. As the offshore licensing regime moves toward activation, it stands as the latest signal that the Kingdom’s financial sector is not just open—it is competing.

Contact:
Capital Market Authority
Communication & Investor Protection Division
+966114906009
+966557666932
[email protected]
www.cma.org.sa

GlobeNewswire Distribution ID 9457816

• Trèsind Studio becomes the first Indian restaurant in the world to receive Three MICHELIN Stars

• FZN by Björn Frantzén enters the Guide with Three MICHELIN Stars in its first year

• The MICHELIN Guide Dubai 2025 selection also includes 2 new One MICHELIN Stars and 5 new Bib Gourmand restaurants

• Hero Photo

  

  Hero Photo

DUBAI, United Arab Emirates, May 23, 2025 (GLOBE NEWSWIRE) — Michelin celebrated the city’s culinary excellence like never before at Dubai’s fourth MICHELIN Guide Ceremony, held at Address Sky View. The event revealed 119 establishments, covering over 35 cuisine types, which made it into this year’s selection, showcasing the city’s booming gastronomic scene.

For this fourth edition, The MICHELIN Guide Dubai recognizes two new One MICHELIN Star restaurants, and two new Three MICHELIN Star restaurants, as well as five new Bib Gourmand establishments.

“Dubai’s rapid transformation into a global culinary hub is testament to its diversity and excellence,”says Gwendal Poullennec, International Director of the MICHELIN Guide. “As demonstrated by Trèsind Studio’s historic achievement of earning Three MICHELIN Stars in its fourth appearance—making it the first Indian restaurant worldwide to earn the Guide’s highest accolade—Dubai embraces a rich tapestry of flavors that reflect the world’s gastronomic passions. With the city now home to 119 MICHELIN-recommended establishments, it stands as a beacon for food lovers, drawing them to experience the very best of the world’s culinary traditions, all within one dynamic destination.”

Whatever a restaurant’s cuisine style, concept or location, whether they are luxury fine dining restaurants or street food eateries, the MICHELIN Guide Inspectors use the same five criteria all around the world: the quality of the ingredients; mastery of cooking techniques; the harmony of the flavors; expression of the chef’s personality in the cuisine; and consistency, both over time and across the entire menu.

His Excellency Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of the Dubai Department of Economy and Tourism (DET), said: “The launch of the fourth edition of the MICHELIN Guide Dubai, including the naming of the city’s first Three MICHELIN Starred restaurants, marks another pivotal moment in Dubai’s journey as a world-class gastronomic destination, and is a testament to bold innovation, extraordinary talent and culinary distinction.

“Just as Three MICHELIN Stars signify a restaurant that is ‘worth a special journey’, so the same applies to Dubai as a destination; from celebrated homegrown eateries to globally renowned names, this vibrant gastronomic landscape truly reflects the diversity and dynamism of a city that always aims to inspire the world.

“We extend our heartfelt gratitude to MICHELIN, whose dedication to excellence continues to elevate Dubai’s reputation, highlighting the crucial role of restaurants in driving Dubai’s destination appeal, economic growth, and global competitiveness. The people from almost 200 nationalities that live in Dubai are at the heart of the unique fabric of the city, and we congratulate all the restaurateurs, chefs and talents behind the establishments included in this year’s Guide.”

Two restaurants are awarded Three MICHELIN Stars

Two restaurants received Three MICHELIN Stars for the first time since the destination launched in 2022, marking a historical moment in Dubai’s culinary scene. This distinction highlights exceptional cuisine, worth a special journey.

A new addition to the Guide, FZN by Björn Frantzén has been awarded Three MICHELIN Stars. This true destination restaurant with a stellar team is acclaimed Swedish chef Björn Frantzén’s debut in the Middle East. It offers a highly sophisticated experience with an array of dishes blending Scandinavian and Asian influences that make great use of the finest luxury ingredients.

Trèsind Studio is promoted to Three MICHELIN Stars in its fourth appearance in the MICHELIN Guide Dubai, making history as the first Indian restaurant in the world to earn the Guide’s highest accolade. This immersive Indian concept highlights Chef Himanshu Saini’s limitless levels of imagination and creativity. The tasting menu showcases traditional Indian dishes from various regions, re-imagined and superbly crafted into vibrant, eye-catching, and flavorsome creations.

Two new restaurants are awarded One MICHELIN Star

Jamavar’s Dubai outpost joined the 2025 Dubai selection with One MICHELIN Star. Located in Dubai’s Opera district, this acclaimed Indian restaurant offers perfectly balanced and harmonious dishes crafted with prime ingredients.

Helmed by Dubai-born chef Abhiraj Khatwani, Thai restaurant Manāo is an ode to the cuisine closest to his heart. The new One MICHELIN Star establishment serves an 11-course tasting menu comprised of re-imagined Thai classics with a twist, with flavors staying true to the cuisines vibrant and authentic roots.

There are now fourteen restaurants in the MICHELIN Guide Dubai with One MICHELIN Star, a distinction that highlights high-quality cooking, worth a stop.

Five new restaurants receive a Bib Gourmand

In addition to the MICHELIN Stars, 5 new restaurants are added to the Bib Gourmand category. Named after Bibendum, the official name of the Michelin Man, the Bib Gourmand recognition goes to restaurants that offer great quality, great value cooking.

The five restaurants are:

• DUO Gastrobar-Creek Harbour: This second branch offers an appealing, well-priced menu with an array of unfussy, refined comfort food.

• Harummanis: This Malay grill eatery takes influences from numerous neighboring countries and boasts perfectly spiced and balanced flavors.

• Hawkerboi: A relaxed restaurant highlighting the subtleties of the street foods of Singapore, Malaysia, Thailand and Myanmar, perfect for sharing.

• Khadak: Get a taste of India’s street food at this contemporary and vibrant Indian brasserie offering sharing plates that are full of flavor.

• Sufret Maryam: Chef Salam Dakkak’s second venture offers a selection of refined Levantine dishes, which are generous in flavor and size.

MICHELIN Special Awards
With its Special Awards, the MICHELIN Guide aims to highlight and celebrate the amazing diversity of the roles within the hospitality industry, as well as its most talented and inspiring professionals.

The Opening of the Year Award for 2025 is awarded to the restaurant Ronin. Located in the FIVE LUXE JBR Hotel, this beautifully conceptualized spot evokes fantastical pan-Asian decor, complemented by a superb selection of produce and bold flavors, creating an immensely enjoyable contemporary Japanese dining experience.

The Sommelier Award is presented to Shiv Menon of Boca restaurant. His passion for wine and drinks is evident in every conversation, without condescension. His list supports the restaurant’s sustainable ethos, featuring symbols that highlight environmental and community benefits. He organizes tastings to share his knowledge and love for the subject.

The Service Award presented by RAK Porcelain goes to the team at Al Khayma Heritage Restaurant. Despite its large operation and busy atmosphere, this restaurant is far from a tourist trap. The team runs it with pride and passion, aiming to please every guest. Early arrivals enjoy Arabic coffee outside, while inside, servers guide diners through the menu. The heartfelt goodbye is as meaningful as the welcome.

The Young Chef Award goes to 30-year-old Chef Abhiraj Khatwani, who helms the kitchen at Thai restaurant Manāo, a recipient of a MICHELIN Star in this year’s Guide (newly awarded One MICHELIN Star). He earns this award thanks to his experience in Thailand, for the enthusiasm he shows to his home city, and through his authentic, skillfully balanced dishes.

Finally, the MICHELIN Guide Ceremony celebrated the remarkable selection of restaurants for the year 2025. This year’s distinctions and awards have highlighted the exceptional talent, dedication, and innovation within the culinary world in Dubai. From sustainable gastronomy to authentic and skillfully crafted dishes, the honorees have set new standards and inspired others. Their passion and commitment to excellence have truly made this year’s selection outstanding. We look forward to witnessing continued success and contributions to the culinary arts in next year’s selection.

The MICHELIN Guide Dubai selection 2025 at a glance:

• 2 restaurants with Three MICHELIN Stars (1 Promotion, 1 New)

• 3 restaurants with Two MICHELIN Stars

• 14 restaurants with One MICHELIN Star (2 new)

• 3 restaurants with a MICHELIN Green Star

• 22 Bib Gourmand restaurants (5 new)

• 78 MICHELIN selected restaurants (15 new)

A replay of The MICHELIN Guide Ceremony and other highlights are available on the official MICHELIN Guide Middle East Facebook page and the MICHELIN Guide Global YouTube channel.

The full selection of The MICHELIN Guide Dubai 2025 is available on the MICHELIN Guide website https://guide.michelin.com/ae-du/en and on the MICHELIN Guide app, available free of charge on iOS and Android.

The MICHELIN Guide is a benchmark in gastronomy. Now, it’s setting a new standard for hotels. Visit the MICHELIN Guide’s official website, or download the MICHELIN Guide mobile app (iOS and Android), to discover every restaurant in the selection and book an unforgettable hotel.

The MICHELIN Guide Worldwide app for iOS and Android devices.

Website: guide.michelin.com Facebook: facebook.com/MICHELINGuideME YouTube: youtube.com/MICHELINGuideInternational Instagram: @MichelinGuide

About Michelin
Michelin is building a world-leading manufacturer of life-changing composites and experiences. Pioneering engineered materials for more than 130 years, Michelin is uniquely positioned to make decisive contributions to human progress and to a more sustainable world. Drawing on its deep know-how in polymer composites, Michelin is constantly innovating to manufacture high-quality tires and components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies, and healthcare. The care placed in its products and deep customer knowledge inspire Michelin to offer the finest experiences. This spans from providing data- and AI based connected solutions for professional fleets to recommending outstanding restaurants and hotels curated by the MICHELIN Guide. Headquartered in Clermont-Ferrand, France, Michelin is present in 175 countries and employs 129,800 people. (www.michelin.com)

Press Contact

BPG Group
[email protected]

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/61f7bf4e-282f-4e39-82c7-3aa7b88102ea
https://www.globenewswire.com/NewsRoom/AttachmentNg/b46ace40-d954-4214-a01b-4dd40f13decc

GlobeNewswire Distribution ID 1001098482

• Trèsind Studio becomes the first Indian restaurant in the world to receive Three MICHELIN Stars

• FZN by Björn Frantzén enters the Guide with Three MICHELIN Stars in its first year

• The MICHELIN Guide Dubai 2025 selection also includes 2 new One MICHELIN Stars and 5 new Bib Gourmand restaurants

• Hero Photo

  

  Hero Photo

DUBAI, United Arab Emirates, May 23, 2025 (GLOBE NEWSWIRE) — Michelin celebrated the city’s culinary excellence like never before at Dubai’s fourth MICHELIN Guide Ceremony, held at Address Sky View. The event revealed 119 establishments, covering over 35 cuisine types, which made it into this year’s selection, showcasing the city’s booming gastronomic scene.

For this fourth edition, The MICHELIN Guide Dubai recognizes two new One MICHELIN Star restaurants, and two new Three MICHELIN Star restaurants, as well as five new Bib Gourmand establishments.

“Dubai’s rapid transformation into a global culinary hub is testament to its diversity and excellence,”says Gwendal Poullennec, International Director of the MICHELIN Guide. “As demonstrated by Trèsind Studio’s historic achievement of earning Three MICHELIN Stars in its fourth appearance—making it the first Indian restaurant worldwide to earn the Guide’s highest accolade—Dubai embraces a rich tapestry of flavors that reflect the world’s gastronomic passions. With the city now home to 119 MICHELIN-recommended establishments, it stands as a beacon for food lovers, drawing them to experience the very best of the world’s culinary traditions, all within one dynamic destination.”

Whatever a restaurant’s cuisine style, concept or location, whether they are luxury fine dining restaurants or street food eateries, the MICHELIN Guide Inspectors use the same five criteria all around the world: the quality of the ingredients; mastery of cooking techniques; the harmony of the flavors; expression of the chef’s personality in the cuisine; and consistency, both over time and across the entire menu.

His Excellency Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of the Dubai Department of Economy and Tourism (DET), said: “The launch of the fourth edition of the MICHELIN Guide Dubai, including the naming of the city’s first Three MICHELIN Starred restaurants, marks another pivotal moment in Dubai’s journey as a world-class gastronomic destination, and is a testament to bold innovation, extraordinary talent and culinary distinction.

“Just as Three MICHELIN Stars signify a restaurant that is ‘worth a special journey’, so the same applies to Dubai as a destination; from celebrated homegrown eateries to globally renowned names, this vibrant gastronomic landscape truly reflects the diversity and dynamism of a city that always aims to inspire the world.

“We extend our heartfelt gratitude to MICHELIN, whose dedication to excellence continues to elevate Dubai’s reputation, highlighting the crucial role of restaurants in driving Dubai’s destination appeal, economic growth, and global competitiveness. The people from almost 200 nationalities that live in Dubai are at the heart of the unique fabric of the city, and we congratulate all the restaurateurs, chefs and talents behind the establishments included in this year’s Guide.”

Two restaurants are awarded Three MICHELIN Stars

Two restaurants received Three MICHELIN Stars for the first time since the destination launched in 2022, marking a historical moment in Dubai’s culinary scene. This distinction highlights exceptional cuisine, worth a special journey.

A new addition to the Guide, FZN by Björn Frantzén has been awarded Three MICHELIN Stars. This true destination restaurant with a stellar team is acclaimed Swedish chef Björn Frantzén’s debut in the Middle East. It offers a highly sophisticated experience with an array of dishes blending Scandinavian and Asian influences that make great use of the finest luxury ingredients.

Trèsind Studio is promoted to Three MICHELIN Stars in its fourth appearance in the MICHELIN Guide Dubai, making history as the first Indian restaurant in the world to earn the Guide’s highest accolade. This immersive Indian concept highlights Chef Himanshu Saini’s limitless levels of imagination and creativity. The tasting menu showcases traditional Indian dishes from various regions, re-imagined and superbly crafted into vibrant, eye-catching, and flavorsome creations.

Two new restaurants are awarded One MICHELIN Star

Jamavar’s Dubai outpost joined the 2025 Dubai selection with One MICHELIN Star. Located in Dubai’s Opera district, this acclaimed Indian restaurant offers perfectly balanced and harmonious dishes crafted with prime ingredients.

Helmed by Dubai-born chef Abhiraj Khatwani, Thai restaurant Manāo is an ode to the cuisine closest to his heart. The new One MICHELIN Star establishment serves an 11-course tasting menu comprised of re-imagined Thai classics with a twist, with flavors staying true to the cuisines vibrant and authentic roots.

There are now fourteen restaurants in the MICHELIN Guide Dubai with One MICHELIN Star, a distinction that highlights high-quality cooking, worth a stop.

Five new restaurants receive a Bib Gourmand

In addition to the MICHELIN Stars, 5 new restaurants are added to the Bib Gourmand category. Named after Bibendum, the official name of the Michelin Man, the Bib Gourmand recognition goes to restaurants that offer great quality, great value cooking.

The five restaurants are:

• DUO Gastrobar-Creek Harbour: This second branch offers an appealing, well-priced menu with an array of unfussy, refined comfort food.

• Harummanis: This Malay grill eatery takes influences from numerous neighboring countries and boasts perfectly spiced and balanced flavors.

• Hawkerboi: A relaxed restaurant highlighting the subtleties of the street foods of Singapore, Malaysia, Thailand and Myanmar, perfect for sharing.

• Khadak: Get a taste of India’s street food at this contemporary and vibrant Indian brasserie offering sharing plates that are full of flavor.

• Sufret Maryam: Chef Salam Dakkak’s second venture offers a selection of refined Levantine dishes, which are generous in flavor and size.

MICHELIN Special Awards
With its Special Awards, the MICHELIN Guide aims to highlight and celebrate the amazing diversity of the roles within the hospitality industry, as well as its most talented and inspiring professionals.

The Opening of the Year Award for 2025 is awarded to the restaurant Ronin. Located in the FIVE LUXE JBR Hotel, this beautifully conceptualized spot evokes fantastical pan-Asian decor, complemented by a superb selection of produce and bold flavors, creating an immensely enjoyable contemporary Japanese dining experience.

The Sommelier Award is presented to Shiv Menon of Boca restaurant. His passion for wine and drinks is evident in every conversation, without condescension. His list supports the restaurant’s sustainable ethos, featuring symbols that highlight environmental and community benefits. He organizes tastings to share his knowledge and love for the subject.

The Service Award presented by RAK Porcelain goes to the team at Al Khayma Heritage Restaurant. Despite its large operation and busy atmosphere, this restaurant is far from a tourist trap. The team runs it with pride and passion, aiming to please every guest. Early arrivals enjoy Arabic coffee outside, while inside, servers guide diners through the menu. The heartfelt goodbye is as meaningful as the welcome.

The Young Chef Award goes to 30-year-old Chef Abhiraj Khatwani, who helms the kitchen at Thai restaurant Manāo, a recipient of a MICHELIN Star in this year’s Guide (newly awarded One MICHELIN Star). He earns this award thanks to his experience in Thailand, for the enthusiasm he shows to his home city, and through his authentic, skillfully balanced dishes.

Finally, the MICHELIN Guide Ceremony celebrated the remarkable selection of restaurants for the year 2025. This year’s distinctions and awards have highlighted the exceptional talent, dedication, and innovation within the culinary world in Dubai. From sustainable gastronomy to authentic and skillfully crafted dishes, the honorees have set new standards and inspired others. Their passion and commitment to excellence have truly made this year’s selection outstanding. We look forward to witnessing continued success and contributions to the culinary arts in next year’s selection.

The MICHELIN Guide Dubai selection 2025 at a glance:

• 2 restaurants with Three MICHELIN Stars (1 Promotion, 1 New)

• 3 restaurants with Two MICHELIN Stars

• 14 restaurants with One MICHELIN Star (2 new)

• 3 restaurants with a MICHELIN Green Star

• 22 Bib Gourmand restaurants (5 new)

• 78 MICHELIN selected restaurants (15 new)

A replay of The MICHELIN Guide Ceremony and other highlights are available on the official MICHELIN Guide Middle East Facebook page and the MICHELIN Guide Global YouTube channel.

The full selection of The MICHELIN Guide Dubai 2025 is available on the MICHELIN Guide website https://guide.michelin.com/ae-du/en and on the MICHELIN Guide app, available free of charge on iOS and Android.

The MICHELIN Guide is a benchmark in gastronomy. Now, it’s setting a new standard for hotels. Visit the MICHELIN Guide’s official website, or download the MICHELIN Guide mobile app (iOS and Android), to discover every restaurant in the selection and book an unforgettable hotel.

The MICHELIN Guide Worldwide app for iOS and Android devices.

Website: guide.michelin.com Facebook: facebook.com/MICHELINGuideME YouTube: youtube.com/MICHELINGuideInternational Instagram: @MichelinGuide

About Michelin
Michelin is building a world-leading manufacturer of life-changing composites and experiences. Pioneering engineered materials for more than 130 years, Michelin is uniquely positioned to make decisive contributions to human progress and to a more sustainable world. Drawing on its deep know-how in polymer composites, Michelin is constantly innovating to manufacture high-quality tires and components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies, and healthcare. The care placed in its products and deep customer knowledge inspire Michelin to offer the finest experiences. This spans from providing data- and AI based connected solutions for professional fleets to recommending outstanding restaurants and hotels curated by the MICHELIN Guide. Headquartered in Clermont-Ferrand, France, Michelin is present in 175 countries and employs 129,800 people. (www.michelin.com)

Press Contact

BPG Group
[email protected]

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/61f7bf4e-282f-4e39-82c7-3aa7b88102ea
https://www.globenewswire.com/NewsRoom/AttachmentNg/b46ace40-d954-4214-a01b-4dd40f13decc

GlobeNewswire Distribution ID 1001098482

Imagine viewers in Germany – or anywhere in the world – accessing the latest news in real time, with no language barriers. This partnership addresses key challenges for FAST platforms: delivering premium, localized content to a global audience and increasing accessibility for all viewers from heart-pounding action movies to the latest chart-topping music, and even adorable pets. Leveraging AI-Media’s LEXI and LEXI Translate solutions, content is localized in real-time with live-translated captions burned directly into the feed, making it accessible in over 50 languages.

For example, a channel previously limited to English-speaking markets, can now reach fans worldwide by offering live-translated captions in French, German, Italian, Japanese, and more. This opens new distribution channels, expands viewership, and enables content monetization in previously inaccessible markets.

Tony Abrahams, CEO of AI-Media, said “This partnership with Lightning International is a game-changer for the FAST industry. By making premium content accessible and localized in real-time, we are helping platforms grow audiences and increase revenue while making global content truly inclusive.”

Transformative Benefits for FAST Platforms and Content Owners

• Increased Engagement and Viewership: Captions enhance engagement, driving repeat viewership and longer watch times—a key factor for increasing ad opportunities on FAST platforms.
• Greater Accessibility: AI-Media’s solutions not only benefit the d/Deaf and hard-of-hearing communities but also cater to the growing demand for captions among millennial and Gen Z viewers, 87% of whom find captions useful for watching video content.
• New Revenue Streams: By breaking down language barriers, this partnership enables content owners to reach new markets, driving higher audience numbers and ad revenue.
• Cost-Effective Localization: Traditional live translation methods are expensive and resource intensive. AI-Media’s AI-powered solutions deliver scalable, real-time localization at a fraction of the cost, with less latency and greater reliability.

How It Works

AI-Media’s Alta and LEXI Translate solutions provide real-time transcription and translation. Captions are seamlessly integrated into the linear channel feed, which is then delivered to FAST platforms via Lightning International’s content delivery services based in Hong Kong. This approach ensures a streamlined workflow that is cost-effective, scalable, and reliable.

James Ross, CEO of Lightning International, commented “We are excited to collaborate with AI-Media. With this partnership, we are setting a new standard for localisation in the FAST industry, enabling us to unlock new markets, making it possible for every viewer to enjoy our diverse content without any language barriers.”

The future of FAST TV localisation is brighter than ever with the launch of LEXI Voice at NAB. This breakthrough in AI dubbing empowers broadcasters and content owners to deliver real-time alternate-language audio tracks—enhancing accessibility for the visually impaired and offering global audiences a more immersive, native-language experience.

About AI-Media

Founded in Australia in 2003, AI-Media (ASX: AIM) is a global leader in AI-powered live voice translation, captioning, and language accessibility solutions. AI-Media’s latest innovation, LEXI Voice, transforms how global audiences engage with live content – providing real-time, multilingual voice translations built on the industry-leading accuracy of its LEXI captions. Designed for broadcasters, enterprises, and event producers, LEXI Voice opens new revenue streams and audience reach by making live content instantly accessible in multiple languages. Trusted in 25+ countries, AI-Media’s end-to-end ecosystem – including iCap, Alta, Encoder Pro and the LEXI Toolkit – delivers unmatched automation, precision, and scalability. With a proven record of replacing legacy human workflows, AI-Media empowers the world’s top organisations to deliver accessible, inclusive experiences at scale.

About Lightning International
Lightning International is a content solutions company with a focus on creating and distributing TV Channels, programmes, and formats. Based in Hong Kong and the UK since 2011, Lightning further strengthened its capabilities by joining the AsiaSat family in 2023, and distributes a package of 15+ FAST channels which are already carried on numerous platforms around the world. These channels are fully curated by Lightning to broadcast standards and are available in Asia and worldwide. They include channels such as Action Hollywood Movies, Concerto TV, Docsville, NOW 70s, NOW 80s, Now 90s00s, NOW Rock, Pet Club TV, Pulse, RCM, TRACE Urban, TRACE Sport Stars, NewsWorld, Globetrotter, and our latest additions 24/7 SAMURAI-SHINOBI and hi Life! Additionally, the company licenses a full catalogue of programming, both as finished shows and formats. http://www.lightninginternational.net

Media Contact:
Fiona Habben
Head of Global Marketing
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/201bd6ac-b226-4036-b19d-a4f14b2d8907

GlobeNewswire Distribution ID 9457011

Imagine viewers in Germany – or anywhere in the world – accessing the latest news in real time, with no language barriers. This partnership addresses key challenges for FAST platforms: delivering premium, localized content to a global audience and increasing accessibility for all viewers from heart-pounding action movies to the latest chart-topping music, and even adorable pets. Leveraging AI-Media’s LEXI and LEXI Translate solutions, content is localized in real-time with live-translated captions burned directly into the feed, making it accessible in over 50 languages.

For example, a channel previously limited to English-speaking markets, can now reach fans worldwide by offering live-translated captions in French, German, Italian, Japanese, and more. This opens new distribution channels, expands viewership, and enables content monetization in previously inaccessible markets.

Tony Abrahams, CEO of AI-Media, said “This partnership with Lightning International is a game-changer for the FAST industry. By making premium content accessible and localized in real-time, we are helping platforms grow audiences and increase revenue while making global content truly inclusive.”

Transformative Benefits for FAST Platforms and Content Owners

• Increased Engagement and Viewership: Captions enhance engagement, driving repeat viewership and longer watch times—a key factor for increasing ad opportunities on FAST platforms.
• Greater Accessibility: AI-Media’s solutions not only benefit the d/Deaf and hard-of-hearing communities but also cater to the growing demand for captions among millennial and Gen Z viewers, 87% of whom find captions useful for watching video content.
• New Revenue Streams: By breaking down language barriers, this partnership enables content owners to reach new markets, driving higher audience numbers and ad revenue.
• Cost-Effective Localization: Traditional live translation methods are expensive and resource intensive. AI-Media’s AI-powered solutions deliver scalable, real-time localization at a fraction of the cost, with less latency and greater reliability.

How It Works

AI-Media’s Alta and LEXI Translate solutions provide real-time transcription and translation. Captions are seamlessly integrated into the linear channel feed, which is then delivered to FAST platforms via Lightning International’s content delivery services based in Hong Kong. This approach ensures a streamlined workflow that is cost-effective, scalable, and reliable.

James Ross, CEO of Lightning International, commented “We are excited to collaborate with AI-Media. With this partnership, we are setting a new standard for localisation in the FAST industry, enabling us to unlock new markets, making it possible for every viewer to enjoy our diverse content without any language barriers.”

The future of FAST TV localisation is brighter than ever with the launch of LEXI Voice at NAB. This breakthrough in AI dubbing empowers broadcasters and content owners to deliver real-time alternate-language audio tracks—enhancing accessibility for the visually impaired and offering global audiences a more immersive, native-language experience.

About AI-Media

Founded in Australia in 2003, AI-Media (ASX: AIM) is a global leader in AI-powered live voice translation, captioning, and language accessibility solutions. AI-Media’s latest innovation, LEXI Voice, transforms how global audiences engage with live content – providing real-time, multilingual voice translations built on the industry-leading accuracy of its LEXI captions. Designed for broadcasters, enterprises, and event producers, LEXI Voice opens new revenue streams and audience reach by making live content instantly accessible in multiple languages. Trusted in 25+ countries, AI-Media’s end-to-end ecosystem – including iCap, Alta, Encoder Pro and the LEXI Toolkit – delivers unmatched automation, precision, and scalability. With a proven record of replacing legacy human workflows, AI-Media empowers the world’s top organisations to deliver accessible, inclusive experiences at scale.

About Lightning International
Lightning International is a content solutions company with a focus on creating and distributing TV Channels, programmes, and formats. Based in Hong Kong and the UK since 2011, Lightning further strengthened its capabilities by joining the AsiaSat family in 2023, and distributes a package of 15+ FAST channels which are already carried on numerous platforms around the world. These channels are fully curated by Lightning to broadcast standards and are available in Asia and worldwide. They include channels such as Action Hollywood Movies, Concerto TV, Docsville, NOW 70s, NOW 80s, Now 90s00s, NOW Rock, Pet Club TV, Pulse, RCM, TRACE Urban, TRACE Sport Stars, NewsWorld, Globetrotter, and our latest additions 24/7 SAMURAI-SHINOBI and hi Life! Additionally, the company licenses a full catalogue of programming, both as finished shows and formats. http://www.lightninginternational.net

Media Contact:
Fiona Habben
Head of Global Marketing
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/201bd6ac-b226-4036-b19d-a4f14b2d8907

GlobeNewswire Distribution ID 9457011

Philadelphia Insurance Companies Takes Home the Standard of Excellence Customer Award for the Business Owners Policy (BOP) Transformation with Duck Creek OnDemand and Policy Solutions

BOSTON, May 22, 2025 (GLOBE NEWSWIRE) — Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has named Philadelphia Insurance Companies (PHLY) a recipient of its 2025 Standard of Excellence Customer Award winner at Formation ’25, its flagship customer conference held this week in Orlando, Florida.

The Duck Creek Standard of Excellence Customer Awards recognize customers who have achieved the highest level of excellence through their implementation of Duck Creek solutions and who have a vision to advance their business, while reimagining the future of insurance. The award recognizes PHLY for its outstanding achievement in digital transformation and innovation in insurance operations.

Together with Ernst & Young, LLP (EY US), PHLY leveraged Duck Creek’s cloud-native, SaaS-based solutions, including Duck Creek Policy, Duck Creek Insights, and Duck Creek Producer Portal, to reimagine how Philadelphia Insurance Companies BOP (PHLYBOP) policies are delivered, driving major advancements across operational efficiency, customer experience, and market responsiveness.

“This recognition highlights the power of teamwork and the strength of our technology partnerships,” said Brent Skiles, SVP of Insurance Operations at Philadelphia Insurance Companies. “Together, we’ve helped PHLY launch a future-ready platform that meets the needs of our broker and agency partners, while scaling for tomorrow’s opportunities.”

Facing the need to modernize legacy systems, PHLY set out to implement a digital-first strategy, reduce manual processes, and use data to drive better decisions and customer insights. With Duck Creek’s solutions, they achieved:

• Automated policy lifecycle management, improving speed and accuracy;
• Real-time data access and analytics to support decision-making and compliance;
• A modern, agent-facing experience via the Duck Creek Producer Portal; and
• Rapid deployment of BOP products across multiple states using pre-configured templates and scalable APIs.

The foundational release of the reimagined BOP offering launched in three states in late 2024, with rollout to 20 additional states planned throughout 2025. PHLY’s transformation has already led to increased market share, improved customer satisfaction, and stronger agent engagement, setting a new benchmark for excellence in digital insurance delivery.

“Philadelphia Insurance Companies demonstrated what’s possible when a forward-thinking insurer embraces modern technology to meet complex market demands,” said William Magowan, SVP North American Sales at Duck Creek Technologies. “Their strategic use of Duck Creek OnDemand, Policy, Insights, and Producer is a prime example of how carriers can deliver meaningful transformation with speed and scale.”

Duck Creek celebrates PHLY’s incredible success in the P&C Insurance Industry.

About Duck Creek Technologies
Duck Creek Technologies is the global intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.

About Philadelphia Insurance Companies

For over 60 years, Philadelphia Insurance Companies (PHLY) has delivered stability and peace of mind through enduring partnerships with our customers, brokers, and independent agents nationwide. We provide commercial property/casualty and professional liability coverages, comprehensive risk management, and expert claims handling across 120+ specialized industries.

As a proud member of Tokio Marine Group, one of the largest insurance groups in the world, PHLY’s exceptional financial strength has been independently validated through the highest ratings from the AM Best Company [“A++” (Superior)] and Standard & Poor’s [“A+”] since 2011. PHLY is nationally recognized as a member of Ward’s Top 50 since 2001, Business Insurance’s Best Places to Work in Insurance since 2010, and ranked as one of America’s Best Midsize Employers by Forbes.

For more information, please visit PHLY.com and connect with us on LinkedIn.

Media Contacts:
Marianne Dempsey/Tara Stred
[email protected]

GlobeNewswire Distribution ID 9456243

Philadelphia Insurance Companies Takes Home the Standard of Excellence Customer Award for the Business Owners Policy (BOP) Transformation with Duck Creek OnDemand and Policy Solutions

BOSTON, May 22, 2025 (GLOBE NEWSWIRE) — Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has named Philadelphia Insurance Companies (PHLY) a recipient of its 2025 Standard of Excellence Customer Award winner at Formation ’25, its flagship customer conference held this week in Orlando, Florida.

The Duck Creek Standard of Excellence Customer Awards recognize customers who have achieved the highest level of excellence through their implementation of Duck Creek solutions and who have a vision to advance their business, while reimagining the future of insurance. The award recognizes PHLY for its outstanding achievement in digital transformation and innovation in insurance operations.

Together with Ernst & Young, LLP (EY US), PHLY leveraged Duck Creek’s cloud-native, SaaS-based solutions, including Duck Creek Policy, Duck Creek Insights, and Duck Creek Producer Portal, to reimagine how Philadelphia Insurance Companies BOP (PHLYBOP) policies are delivered, driving major advancements across operational efficiency, customer experience, and market responsiveness.

“This recognition highlights the power of teamwork and the strength of our technology partnerships,” said Brent Skiles, SVP of Insurance Operations at Philadelphia Insurance Companies. “Together, we’ve helped PHLY launch a future-ready platform that meets the needs of our broker and agency partners, while scaling for tomorrow’s opportunities.”

Facing the need to modernize legacy systems, PHLY set out to implement a digital-first strategy, reduce manual processes, and use data to drive better decisions and customer insights. With Duck Creek’s solutions, they achieved:

• Automated policy lifecycle management, improving speed and accuracy;
• Real-time data access and analytics to support decision-making and compliance;
• A modern, agent-facing experience via the Duck Creek Producer Portal; and
• Rapid deployment of BOP products across multiple states using pre-configured templates and scalable APIs.

The foundational release of the reimagined BOP offering launched in three states in late 2024, with rollout to 20 additional states planned throughout 2025. PHLY’s transformation has already led to increased market share, improved customer satisfaction, and stronger agent engagement, setting a new benchmark for excellence in digital insurance delivery.

“Philadelphia Insurance Companies demonstrated what’s possible when a forward-thinking insurer embraces modern technology to meet complex market demands,” said William Magowan, SVP North American Sales at Duck Creek Technologies. “Their strategic use of Duck Creek OnDemand, Policy, Insights, and Producer is a prime example of how carriers can deliver meaningful transformation with speed and scale.”

Duck Creek celebrates PHLY’s incredible success in the P&C Insurance Industry.

About Duck Creek Technologies
Duck Creek Technologies is the global intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.

About Philadelphia Insurance Companies

For over 60 years, Philadelphia Insurance Companies (PHLY) has delivered stability and peace of mind through enduring partnerships with our customers, brokers, and independent agents nationwide. We provide commercial property/casualty and professional liability coverages, comprehensive risk management, and expert claims handling across 120+ specialized industries.

As a proud member of Tokio Marine Group, one of the largest insurance groups in the world, PHLY’s exceptional financial strength has been independently validated through the highest ratings from the AM Best Company [“A++” (Superior)] and Standard & Poor’s [“A+”] since 2011. PHLY is nationally recognized as a member of Ward’s Top 50 since 2001, Business Insurance’s Best Places to Work in Insurance since 2010, and ranked as one of America’s Best Midsize Employers by Forbes.

For more information, please visit PHLY.com and connect with us on LinkedIn.

Media Contacts:
Marianne Dempsey/Tara Stred
[email protected]

GlobeNewswire Distribution ID 9456243

DUBAI, United Arab Emirates, May 22, 2025 (GLOBE NEWSWIRE) — Falcon, part of Alex Group Investment, has been selected by Toll Group to provide hangar services in the UAE and worldwide flight support under a three-year agreement related to its government and defence operations.

The agreement covers the long-term parking of a Saab 340, a twin-engine aircraft commonly used for short-distance travel and government-related missions. With 13,705 square meters of space and 24/7 access, the Falcon Technic hangar is one of the largest private aircraft hangars in the United Arab Emirates and can easily accommodate multiple aircraft at once. It is also home to Falcon’s expert maintenance team, experienced in supporting complex aircraft operations.

In addition to hangar services, Toll is also working with Falcon’s flight support operations team for its global missions, recognising the convenience of having all services managed by a single provider. This includes managing flight planning, securing permits, handling ground services, supporting passengers and crew, as well as coordinating fuel. Centralising these services allows for faster decisions, fewer delays, and smoother operations wherever the aircraft needs to go.

Mr. Sultan Rashit Abdulla Rashit Al Shene, Founder & Chairman of Alex Group Investment, stated:
“We are proud to support established company like Toll. In government and defence, trust is built on control, speed, and clear processes. With strong procedures, a skilled team, and full operational support, Falcon provides the reliability these missions demand.”

About Falcon

Falcon is a premier aviation service provider, offering a one-stop-shop for all your aviation needs. Discover more at flyfalcon.com, Instagram and LinkedIn

About Toll Group

​​​​​Toll does more than just logistics – They move the businesses that move the world. With a team of 14,000 professionals, Toll is equipped to solve any logistics, transport or supply chain challenge – big or small. For more than 130 years, Toll has been supporting its customers with dedication and expertise. Today, the company serves more than 20,000 customers worldwide, operating across 500 sites in 29 markets, with a forwarding network spanning 150 countries. Toll is proudly part of Japan Post.

Learn more at www.tollgroup.com.

Media Inquiries

Ines Nacerddine
Director of Marketing – Aviation
Alex Group Investment
Email: [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/88610b73-500b-453f-9d8d-190fafa452f9

GlobeNewswire Distribution ID 1001098347

DUBAI, United Arab Emirates, May 22, 2025 (GLOBE NEWSWIRE) — Falcon, part of Alex Group Investment, has been selected by Toll Group to provide hangar services in the UAE and worldwide flight support under a three-year agreement related to its government and defence operations.

The agreement covers the long-term parking of a Saab 340, a twin-engine aircraft commonly used for short-distance travel and government-related missions. With 13,705 square meters of space and 24/7 access, the Falcon Technic hangar is one of the largest private aircraft hangars in the United Arab Emirates and can easily accommodate multiple aircraft at once. It is also home to Falcon’s expert maintenance team, experienced in supporting complex aircraft operations.

In addition to hangar services, Toll is also working with Falcon’s flight support operations team for its global missions, recognising the convenience of having all services managed by a single provider. This includes managing flight planning, securing permits, handling ground services, supporting passengers and crew, as well as coordinating fuel. Centralising these services allows for faster decisions, fewer delays, and smoother operations wherever the aircraft needs to go.

Mr. Sultan Rashit Abdulla Rashit Al Shene, Founder & Chairman of Alex Group Investment, stated:
“We are proud to support established company like Toll. In government and defence, trust is built on control, speed, and clear processes. With strong procedures, a skilled team, and full operational support, Falcon provides the reliability these missions demand.”

About Falcon

Falcon is a premier aviation service provider, offering a one-stop-shop for all your aviation needs. Discover more at flyfalcon.com, Instagram and LinkedIn

About Toll Group

​​​​​Toll does more than just logistics – They move the businesses that move the world. With a team of 14,000 professionals, Toll is equipped to solve any logistics, transport or supply chain challenge – big or small. For more than 130 years, Toll has been supporting its customers with dedication and expertise. Today, the company serves more than 20,000 customers worldwide, operating across 500 sites in 29 markets, with a forwarding network spanning 150 countries. Toll is proudly part of Japan Post.

Learn more at www.tollgroup.com.

Media Inquiries

Ines Nacerddine
Director of Marketing – Aviation
Alex Group Investment
Email: [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/88610b73-500b-453f-9d8d-190fafa452f9

GlobeNewswire Distribution ID 1001098347