News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs.
Below are snippets of all the media releases we received from Aug 5 till the end of the week. This article updates throughout the week.

Box Office Dominance

Sydney, Aug 5: Ryan Reynolds and Hugh Jackman’s Deadpool & Wolverine continues to smash records, topping the HOYTS box office for a second week with $12.7M (68.5 per cent).
Trap, a new thriller by M. Night Shyamalan, debuted at number two with $952K (5.1 per cent).
Twisters, featuring Glen Powell, secured third place with $835K (4.5 per cent), reaching a total of $10.8M.
The animated hit Inside Out 2 maintained fourth place with $706K (3.8 per cent), totalling $53.2M. Rounding out the top five is Despicable Me 4 with $683K (3.7 per cent), bringing its total to $40.9M.
Releasing this week at HOYTS are the highly anticipated It Ends With Us and Borderlands, along with the family film 200 per cent Wolf.

Fintech Partnership Expansion

UAE, Aug 5: US-based fintech leader Ibanera has partnered with RAK Digital Assets Oasis (RAK DAO) to strategically expand into the Middle East.
This collaboration will leverage RAK DAO’s robust ecosystem to enhance Ibanera’s digital banking and Web3 innovation capabilities in the UAE’s growing digital asset market.
RAK DAO, the world’s first Free Zone dedicated to digital assets companies with Common Law features, has welcomed Ibanera as its latest licensed partner.
The partnership aims to utilize an extensive network of Web3 companies, funding opportunities, and blockchain resources to solidify Ibanera’s presence in the region.
“RAK DAO’s vision is to be the free zone of the future for the companies of the future. Ibanera’s entrance into the region aligns perfectly with our goal of fostering future-driven innovation and next-generation banking technologies,” said Dr. Sameer Al Ansari, CEO of RAK DAO.
“This collaboration not only positions Ibanera as a key player in this dynamic region but also strengthens RAK DAO’s ecosystem by introducing cutting-edge financial services and solutions.”
Michael Carbonara, CEO of Ibanera, expressed excitement about the partnership.
“We are thrilled to join RAK DAO’s network of future innovation. The business-friendly infrastructure and progressive policies in Ras Al Khaimah make it an ideal location for global business growth.”
Ibanera aims to expand its PORTL API and other solutions through RAK DAO’s vibrant ecosystem, fostering creativity and innovation.
The seamless onboarding process and straightforward legislation provided by RAK DAO will support Ibanera’s mission to offer advanced financial services to a wide range of companies, from startups to large enterprises.
Ibanera’s innovative financial service platforms will deliver a convenient, seamless, and user-friendly experience for RAK DAO’s Web3 businesses, encompassing services from NFT Tokenization-as-a-Service to digital asset purchases and next-generation banking solutions.

Festival Winners Announced

Kuching, Aug 6: The Rainforest World Music Festival (RWMF) 2024 wrapped up with an exciting prize handover ceremony at Plaza Aurora Kuching, celebrating the winners of the RWMF 2024 Skill Contest. Edwin Francis from Kuala Lumpur won the grand prize, a Mitsubishi Triton 4×4 VGT AT Premium, while Muhammad Farihiin Abdul Latif from Selangor took home an Ebixon Bold EV Bike.
The contest ran from April 27 to June 30, 2024, and required participants to purchase festival passes and submit their e-ticket numbers, personal details, and a brief explanation of their love for the festival.
The Sarawak Tourism Board expressed gratitude to sponsors Mitsubishi Motors Malaysia and MyUS Autotech Sdn Bhd.
Over 26,000 attendees from around the world joined the festival at the Sarawak Cultural Village, marking a 35 per cent increase from 2023.
Building on this success, the Sarawak Tourism Board announced the RWMF 2025, scheduled for June 20-22, with the theme “Connection.”
The event promises unique musical performances, cultural exchanges, and sustainability initiatives.

Ventora Partnership Announced

Melbourne, Aug 6: Media Republic has secured the media services account for VENTORA brands, including Stegbar, Regency, and Trend Windows and Doors.
The agency will leverage its expertise in media planning, buying, and analytics to enhance brand visibility, expand market reach, and drive sales.
Steve Fagan, CEO of Media Republic, expressed enthusiasm about the partnership, stating, “We are delighted to be chosen by the VENTORA team. With this new partnership, we are poised to deliver innovative media solutions that will enhance the visibility and success of the brands.”
Christine Evans, Director of Marketing at VENTORA, also shared her excitement: “We are thrilled to join forces with Media Republic. Their innovative approach and proven track record in the industry made them the ideal partner for our brands.”
Media Republic aims to capitalize on this new partnership to kickstart the financial year with momentum and growth.

Stripe Unveils Adaptive Pricing

Sydney, Aug 7: Stripe has launched Adaptive Pricing to simplify international expansion for Asia Pacific businesses, allowing customers to pay in their preferred local currency.
A 2023 Stripe study reveals that 66 per cent of businesses plan to sell internationally by 2025, with local payment preferences being their top concern.
Adaptive Pricing supports businesses in Australia, India, Hong Kong, Japan, Malaysia, New Zealand, Singapore, and Thailand, enabling localized payment experiences in over 150 countries.
According to Stripe, 90 per cent of customers prefer checking out in their local currency, and businesses using Adaptive Pricing have seen a 17.8 per cent increase in cross-border revenue.
Valerie Wagoner, Head of Product, APAC at Stripe, highlighted the growing trend of cross-border shopping, noting significant opportunities for businesses offering personalised payment experiences.

Ransomware Tactics Escalate

Kuala Lumpur, Aug 7: Sophos, a global leader in security solutions, released a report titled “Turning the Screws: The Pressure Tactics of Ransomware Gangs,” revealing how cybercriminals are weaponising stolen data to increase pressure on non-paying targets. Tactics include doxing family members of CEOs, threatening to report illegal activities, and encouraging victims to sue their employers.
Christopher Budd, director of threat research at Sophos, noted, “We are seeing gangs singling out business leaders responsible for the ransomware attack. These efforts create a lightning rod for blame, increasing the pressure on businesses to pay up and potentially exacerbating the reputational damage from an attack.”
The report highlights instances of attackers threatening to expose sensitive employee and client data, including medical records and personal information, to force companies to comply. Budd added, “Ransomware gangs are becoming increasingly invasive and bold about how and what they weaponize.”
Sophos X-Ops found that ransomware groups are not only stealing data but also analysing it to maximise damage and create new extortion opportunities. This trend complicates the threat landscape for organisations, which now face corporate espionage and the risk of exposing sensitive information alongside cyberattacks.

EQT Acquires Acronis Stake

Singapore, Aug 7: EQT X fund will acquire a majority stake in Acronis, a leading cybersecurity and data protection platform for Managed Service Providers and corporate IT departments. The founders, management, and existing investors, including CVC, Springcoast, and BlackRock Private Equity Partners, will retain significant minority shares. This transaction values Acronis above its last funding round in 2022.
Founded in 2003, Acronis provides integrated cybersecurity and data protection solutions, enabling over 20,000 Service Providers to safeguard more than 750,000 businesses worldwide. With a network spanning over 150 countries, Acronis operates 15 offices globally with more than 1,700 employees.
Johannes Reichel, Partner and Co-Head of Technology within EQT’s Private Equity advisory team, said, “Acronis is a strongly positioned cybersecurity and data protection software platform with a clear value proposition to Managed Service Providers. EQT has followed the company’s journey for many years and continues to be impressed by its performance and innovative strength. We are very excited to partner with Acronis, the management team and existing investors on its next phase of growth.”
Ezequiel Steiner, CEO of Acronis, stated, “We are thrilled to have EQT as a major shareholder to support our strategic expansion and share our vision for growth. We would like to thank our existing investors for their support to date and are pleased that many will remain invested as we move forward. But most of all, I’d like to thank the Acronis team for their work in getting us to this stage.”
Phil Goodwin, research vice president of IDC, commented, “Data protection is foundational to cybersecurity, and the two are increasingly tightly integrated. Acronis’ architecture of integrated data protection, cybersecurity, and remote management in a single, customizable platform enables MSPs and corporate IT departments to establish robust cyber preparedness for their business with simplicity and reliability.”
The transaction is expected to complete in Q1-Q2 2025, pending regulatory approvals. Acronis was advised by Deutsche Bank (financial) and Willkie Farr & Gallagher (legal).