July 22, 2022 – Cambodia News Gazette

July 22, 2022

Dale Ventures Acquires 20 Percent Stake in Train Booking Site Rail Online

We are very excited to have secured the backing of Dale Ventures to help support our company’s goal of promoting the increased use of sustainable forms of transport – James Dunne (CEO and Founder, Rail Online)

Dale Ventures acquires 20 percent stake in train booking site Rail Online

SYDNEY, July 22, 2022 (GLOBE NEWSWIRE) — Global venture capital firm Dale Ventures is excited to announce its latest investment in the Australian tech start-up company Metro 1 Travel and Technology Pty Ltd, the operator of a top-tier website www.rail.online that allows customers across the globe to book affordable, convenient rail travel with ease. Led by CEO Dale W. Wood, Dale Ventures recently invested AU$2,500,000 to acquire a 20 percent stake in the company.

At www.rail.online, customers in Europe, Australia, and throughout the world can search for terrific deals on train tickets, knowing they’ll find the best prices and knowledgeable customer service staff all in one place. Rail Online offers quick and simple refunds, giving travelers peace of mind when they book each and every time.

“The travel market has been waiting for a service like Rail Online since the advent of e-ticketing in the rail sector, and this desire is only bolstered by pent-up demand related to the pandemic,” Dale W. Wood said. “Digital ticketing is poised for major innovation, and James, Lachlan, and Kew are ahead of their time. I am thrilled to be able to support their venture as they move toward making cheap, climate-conscious rail travel a reality for millions.”

Rail.Online is more than just a booking site – it’s a travel companion and comparison platform that makes international adventures all the more achievable. From European rail passes to point-to-point tickets across the United Kingdom, planning a trip is a faster and more affordable experience when using Rail Online. With every search, customers can see all available options for a train ticket and compare prices, amenities, and experiences, as well as receive an easy-to-understand breakdown of when and how often their ticket can be used.

Founded by James Dunne, Lachlan McCallum, and Kew Muthalif, Rail Online has already caught the eye of industry leader SilverRail who signed a contract with the company in 2021. Cameron Jones, Chief Strategy Officer at SilverRail, said, “We’ve been impressed with the founding team that Rail Online has brought to the table. Our companies share a genuine passion for the sector, and we look forward to working with them as they grow.”

“We want to make it as easy and affordable as possible for people to compare, plan and book their next rail adventure,” James Dunne said. “SilverRail has helped us create a platform that offers a seamless booking experience with competitive prices and the ability to self-manage any changes or refunds. With the rapid advancement of digital ticketing in the rail sector, it’s time for a new player, and we’re it.”

The recent investment by Dale Ventures will allow Rail Online to expand further across Europe and into North America.

“We are very excited to have secured the backing of Dale Ventures to help support our company’s goal of promoting the increased use of sustainable forms of transport,” James Dunne said. “With a focus on brilliant technology and customer experience, our mission is to become the world’s most valued and frequently used travel app for rail and public transport.”

About Dale Ventures

Dale Ventures is a personal investment holding group founded by serial investor Dale W. Wood. The company partners with management teams to provide the significant strategic and analytic resources needed to build and grow remarkable companies. Dale Ventures has adopted a consultative approach that harnesses the power of innovative teams to generate groundbreaking ideas, tactics, and strategies that drive growth and build long-term value.

For more information about Dale Wood and his projects, please visit www.Dale.com and Facebook.com/DaleVentures.

Media Contact

Dale Ventures FZE
contact.ae@dale.com
Jumeirah Lake Towers
Cluster I; Platinum Tower
12^th Floor; Suite # 1207
Sheikh Zayed Road
Dubai, United Arab Emirates

Dale Ventures acquires 20 percent stake in train booking site Rail Online

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Dale Ventures acquires 20 percent stake in train booking site Rail Online

July 22, 2022

Verisk Names Elizabeth Mann Chief Financial Officer

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Elizabeth Mann

JERSEY CITY, N.J., July 21, 2022 (GLOBE NEWSWIRE) — Verisk (Nasdaq: VRSK) today announced that Elizabeth Mann has been named executive vice president and chief financial officer for Verisk, effective September 15, 2022.

As CFO, she will lead Verisk’s global finance organization which includes accounting and controllership, financial planning and analysis, investor relations, strategic sourcing and procurement, tax and treasury.

Lee Shavel, CEO of Verisk, said, “We’re excited to welcome Elizabeth to Verisk. Elizabeth’s global and multi-faceted finance experience coupled with her leadership make her the perfect candidate to lead Verisk’s dynamic finance team. Elizabeth will be a great partner in achieving our longer-term growth and return objectives and an invaluable resource for valued stakeholders who want to better understand Verisk’s financial and competitive strengths.”

An accomplished financial leader, Mann comes to Verisk from S&P Global, where she was chief financial officer for the Ratings and Mobility divisions, and prior to that senior vice president of capital management. She also held roles of increasing responsibility at Goldman Sachs, including managing director of the firmwide strategy group and the technology, media & telecom investment banking group. Before joining corporate America, Mann earned a doctorate in Mathematics from the University of Oxford, and she was Moore Instructor & National Science Foundation Postdoctoral Fellow at the Massachusetts Institute of Technology.

“Verisk occupies a unique position as a trusted partner to the industries it serves. I’m looking forward to working with Lee and the leadership team to expand on Verisk’s position and accelerate the company’s strong financial performance and strategy for growth,” Mann said.

The role of Verisk CFO was left vacant when Shavel became CEO in May. David Grover, Verisk’s controller and chief accounting officer, has been serving as interim CFO.

“We’re incredibly thankful to David for his leadership and support during this transition period,” Shavel said.

About Verisk
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

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Investor Relations  
Stacey Brodbar
Head of Investor Relations
Verisk 
201-469-4327 
IR@verisk.com

Media
Alberto Canal
Corporate Communications
201-469-2618
Alberto.Canal@verisk.com

July 22, 2022

i2 Group Extends Analytics Capabilities with Acquisition of Rosoka

OTTAWA, July 21, 2022 (GLOBE NEWSWIRE) — i2 Group (i2), a wholly owned subsidiary of N. Harris Computer Corporation (Harris), is extending its portfolio of solutions for intelligence analysis through the acquisition of Rosoka Software Inc (Rosoka).

This investment by Harris comes only six months since it acquired i2 and demonstrates their commitment to i2’s continued growth. The acquisition will strengthen i2’s capabilities in the delivery of its mission-critical software that supports homeland security, state and local law enforcement, and financial crime investigations.

The technology secured by the acquisition of Rosoka means that when it comes to data analysis, unstructured data is no longer a barrier. This capability, which is now available in the i2 portfolio, will allow data analysts and investigators to extract insights automatically from a variety of documents such as Microsoft^® Word, PDFs, and web pages. It will allow a multitude of new unstructured data sources to be immediately exploited by i2’s global user base.

Jamie Caffrey, Executive Vice President of i2 Group, said: “Bringing the Rosoka solution into i2 is a game changer. It further enhances our products’ capabilities and will improve an analyst’s time to value by deriving insight from the mass of unstructured data they confront every day. Documents can now be directly imported into the i2 product they already use and be immediately ready for analysis.”

“Harris’ support of i2 extends beyond this acquisition and is backed by the significant investment in both our expert teams and the solutions we provide. We have recently released software updates across the entire product suite and this acquisition builds upon our mission to provide the most capable and trusted global intelligence analysis platform.”

Gregory Roberts, CEO and Founder of Rosoka, said: “We already have a splendid working relationship with Jamie and the i2 team and to join the Harris family is an amazing opportunity for Rosoka’s solutions to be adopted more widely. I look forward to working with i2 to provide even greater capabilities to data analysts and investigators globally.”

With an estimated 80% of all enterprise data being unstructured, Rosoka will be a force multiplier for the i2 product line. It will allow i2 users to consistently and repeatably analyze documents in over 200 languages to extract key relationships, geospatial locations, and the underlying sentiment in those associations.

As a key historic partner of i2, the Rosoka brand will become part of i2’s business. The unstructured document data capability is available immediately in the new i2 TextChart product line.

For further information, contact:

Jamie Caffrey
Executive Vice President, i2 Group
E: jamie.caffrey@i2group.com

About i2 Group

i2 Group is a world-leader in intelligence analysis software. They empower intelligence analysts and investigators to discover, create, and disseminate actionable intelligence to identify the perpetrators of criminal activity. Founded in Cambridge, UK in 1990, it has more than 30 years’ experience in helping its users to solve complex problems. Their products have been proven in countless real-world operations and are relied upon by 4,500+ users in more than 140 countries.

About Rosoka

Rosoka provides the power to unlock large volumes of information from any multilingual source, determines the relevance and relationship of the data, and delivers value specific results on any platform, application, or device from 230+ languages.

About N. Harris Computer Corporation (Harris)

Harris acquires software businesses, manages them using industry best practices, and builds them for the future. Through acquisitions, Harris has grown extensively from its roots in the utilities, local government, education, private and healthcare sectors to operate over 180 businesses globally across more than twenty industries. Harris is an operating group of Constellation Software Inc. (TSX: CSU), one of North America’s most active acquirers of software businesses.

July 22, 2022

Myanmar Economic Monitor, July 2022: Reforms Reversed [EN/MY]

Myanmar’s economy has faced a series of external and internal disruptions which have impeded recovery from the large contraction in economic activity last year. The absence of a substantial rebound in growth – with GDP in 2022 estimated to still be around 13 percent lower than in 2019 – means that livelihoods and coping mechanisms will continue to be severely strained. About 40 percent of the population is living below the national poverty line in 2022, unwinding nearly a decade of progress on poverty reduction, according to The World Bank’s Myanmar Economic Monitor released today.

Myanmar’s economy is projected to grow 3 percent in the fiscal year ending in September 2022, following an 18% contraction last year. Weak economic activity is indicative of the range of constraints facing the Myanmar economy. These include a sharp rise in the prices of imported inputs and consumer goods, partly attributable to the war in Ukraine; elevated levels of domestic conflict; electricity outages; and persistent logistics and financial sector disruptions. Recent policy shifts have added to challenges for businesses. Burdensome trade license requirements, the abandonment of the managed float exchange rate regime, and the imposition of foreign currency surrender rules have resulted in shortages of key imported inputs and inhibited exporters. Uncertainty among businesses has increased due to the rapid issuance of new policy instructions, including exemptions to previously imposed restrictions, followed by subsequent attempts to revoke those exemptions.

“Myanmar last year experienced one of the worst economic contractions in the world, and the limited growth we forecast this year leaves its economic recovery far behind other countries,” said World Bank Country Director for Myanmar, Cambodia and Lao PDR Mariam Sherman. “This will continue to test the resilience of the Myanmar people, with household incomes declining and coping mechanisms against food insecurity and poverty increasingly under strain amidst ongoing internal conflict.”

While the overall economy has faced headwinds, some sectors have stabilized or recovered over the past twelve months, driving the modest growth expected for this year. Some firms have reported operating at a higher proportion of their capacity in 2022 than was the case in 2021, particularly in the manufacturing sector, and manufactured exports are recovering. Construction activity has also picked up as work on several projects has resumed after a long pause last year, and the pipeline of issued permits has grown. A rise in mobility at workplaces, retail outlets, and transport hubs has supported overall activity, although indicators of consumer spending are weak.

“Despite severe constraints, economic activity has picked up in some areas over the last twelve months, demonstrating the adaptability of Myanmar’s businesses,” said World Bank Senior Economist for Myanmar Kim Edwards. “However, industries more dependent on domestic demand are facing challenges from lower household incomes and rising prices, while agricultural production remains constrained by increased input prices, transport disruptions, and ongoing conflict”.

The spike in inflation has disrupted the operations of all businesses. The latest available data indicate that CPI inflation increased to 17.3 percent (yoy) in March. Increases in global oil prices have driven pronounced increases in domestic fuel prices and transport costs, as well as in the cost of running diesel generators to compensate for recurring electricity outages. Kyat depreciation, supply chain disruptions and the spillover effects of higher transport prices have resulted in price increases for a broader range of imported inputs, squeezing already thin profit margins.

Beyond the projected 3 percent growth in 2022, the outlook remains weak and subject to substantial risks. Domestic prices for food, fuel, and other imported inputs are likely to remain elevated over the short to medium term, constraining both production and consumption. The balance of payments situation is of growing concern, with U.S. dollar shortages already limiting the availability of several imported products, including fuel. Elevated levels of conflict in many areas of the country are expected to continue to constrain productive activity. As a result, a return to pre-pandemic levels of economic activity is unlikely in the near term, in sharp contrast to the rest of the East Asia and

Pacific region, where GDP in all large countries is estimated to have recovered to above 2019 levels or is projected to do so in 2023.

Recent policy shifts are likely to have longer-term effects: inhibiting potential growth, worsening macroeconomic instability, and impairing the efficient allocation of resources. Trade and foreign exchange restrictions have unwound previous reforms to liberalize trade and unify the exchange rate. Stepped up promotion of import substitution and self-sufficiency is reversing much of the increased openness and liberalization that has been a key driver of Myanmar’s strong growth record over much of the last decade. These policy changes have also allowed the authorities greater control over the allocation of resources in the economy, which is likely to benefit some, but ultimately divert resources from their most efficient use. Lessons from Myanmar’s economic history suggest that to the extent that these trends continue, investor confidence and the business environment will weaken further, constraining Myanmar’s growth potential over the longer-term.

Source: World Bank

July 22, 2022

NBC: Cambodia’s Economic Growth Expected at 5.3% This Year

Cambodia’s economy is expected to continue to grow at 5.3 percent, mainly supported by growth in manufacturing exports, construction and real estate, agriculture, and gradual recovery of tourism sector, according to the National Bank of Cambodia (NBC).

The projected economic growth this year is higher than in 2021, at 3 percent, said H.E. Chea Chanto, Governor of NBC in the closing ceremony of a meeting to review the NBC’s work achievements in the first semester of 2022and set new objectives for the second semester held here this week.

With the optimistic growth, Cambodia is also expected to be hit by the uncertain conditions of the economy slowdown in the European Union and in China, he added.

“The Cambodian economy may face some uncertainties, such as the risk of a slowdown in the EU economic growth, which could affect Cambodian exports and a slowdown in China’s economic growth, which could slow growth in investment and the recovery of tourism and real estate,” the NBC governor said.

Additionally, although the U.S, Federal Reserve raises the benchmark interest rate, it does not directly affect that in Cambodia, however it could put pressure on the exchange rate due to the appreciation of the U.S. dollar in international markets, he underlined.

With oil prices predicted to decrease, inflation – at its highest in a decade fueled by rising global oil and food prices – looks to follow suit in the second half of this year, H.E Chea Chanto said.

Source: Agency Kampuchea Press