Technology

Saudi Arabia’s Largest Cultural Group Officially Launches in Riyadh

Published

12 months ago

May 20, 2025

Seven Companies and Twenty Brands Unite to Accelerate Private Sector’s Role in Achieving Saudi Vision 2030 Cultural Goals

RIYADH, Saudi Arabia, May 20, 2025 /PRNewswire/ — In a landmark moment for the Kingdom’s cultural and creative industries, the Cultural Assets Group has officially launched as Saudi Arabia’s largest cultural consortium. Headquartered in Riyadh, with strategic offices in AlUla, Jeddah, London, Paris, and Unaizah, the group consolidates seven leading companies and over twenty innovative brands, including Backyard Symphony, Knowliom, Knowliom Museum Studio, Sign, Haal, Operal and Backyard Immersions, under a unified platform, to accelerate the development of private sector enterprises operating in the cultural domain.

This strategic formation is in direct response to Saudi Vision 2030, which clearly articulated ambitious goals for the cultural creative economy, establishing robust government initiatives that laid the groundwork for substantial private sector investment. Cultural Assets Group leverages this momentum, becoming a critical engine and a catalyst for sector growth, investment attraction, and innovation, aligning seamlessly with the Kingdom’s vision for cultural and economic transformation.

Chairman Abdullah Khalid Al Zamil emphasized the significance of this step: “Our vision at Cultural Assets Group aligns with Saudi Vision 2030’s ambitious objectives, where culture acts as a catalyst for innovation and sustainable economic development. We are committed to building a future rooted in authenticity and driven by excellence, leaving a lasting impact across the global cultural ecosystem.”

With a dedicated workforce of over 250 specialized professionals, including a nearly even gender split of 51% male and 49% female, Cultural Assets Group boasts comprehensive expertise, including museum design and construction, destination development, cultural events and exhibitions, experience design, community engagement, activation programs, interactive visual production, marketing and communications, and cultural retail. The group collaborates closely with leading national stakeholders such as the Ministry of Culture, Royal Commission for AlUla, Diriyah Gate Development Authority, ROSHN, and Mohammed Bin Salman Foundation (Misk), providing robust capabilities to deliver high-impact projects of national significance. Cultural Assets Group’s launch coincides with the exponential growth of Saudi Arabia’s cultural and tourism sectors, as Saudi Arabia’s cultural and creative industries are expected to contribute approximately $47.9 billion to the GDP by 2030. It is strategically positioned to enhance the Kingdom’s global cultural visibility, empower local creative talent, and drive sustainable growth within the sector, aligning closely with Saudi Vision 2030 objectives.

“Cultural Assets Group represents a unified, purpose-driven platform committed to advancing the Kingdom’s cultural priorities,” said CEO Abdulaziz AlSulaim. “We exist to grow the sector, back ambitious ideas, and support the scale and sustainability of cultural enterprises. This is more than a business, it’s an engine for empowering transformation, deepening the Saudi cultural identity, and leading through cultural and creative progress.”

The group is poised to offer a compelling developmental model, highlighting Saudi cultural potential globally and underscoring the Kingdom’s commitment to cultural excellence and economic diversification through Saudi Vision 2030.

About Cultural Assets Group

Cultural Assets Group is Saudi Arabia’s largest privately-owned cultural enterprise, uniting seven companies and over twenty brands across the cultural and creative industries. Headquartered in Riyadh, with offices in AlUla, Jeddah, Unaizah, London, and Paris, the Group operates at the intersection of culture, innovation, and economic development.

Established in alignment with Saudi Arabia’s Vision 2030, Cultural Assets Group is committed to advancing the Kingdom’s cultural renaissance and supporting the growth of the creative economy. The Group offers comprehensive services in museum design and construction, destination development, cultural events and exhibitions, experience design, community engagement, activation programs, interactive visual production, marketing and communications, and cultural retail.

With a team of over 250 specialized professionals, Cultural Assets Group collaborates closely with national stakeholders – including the Ministry of Culture, Royal Commission for AlUla, Diriyah Gate Development Authority, ROSHN, and Misk – to deliver high-impact cultural initiatives.

Cultural Assets Group is dedicated to building an inspiring and sustainable cultural narrative that deepens community connections and transcends time, reflecting the Kingdom’s rich culture and dynamic future.

For Media Enquiries:
Cultural Assets Group
Email: pr@culturalassets.sa
https://www.culturalassets.sa/en
Online Media Resources:
https://www.culturalassets.sa/en/media-center-page#Visual-identity-sec

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Technology

Hexagon Composites ASA: Eirik Løhre appointed permanent CFO

Published

31 minutes ago

May 5, 2026

OSLO, Norway, May 5, 2026 /PRNewswire/ — Reference is made to the stock exchange announcement dated 11 November 2025, where Eirik Løhre was appointed interim CFO in Hexagon Composites.

The Company is pleased to inform that Eirik Løhre has been appointed permanently to the role of CFO in Hexagon Composites, effective today.

Eirik Løhre has been with the Company since 2021 and prior to his role as interim CFO, he served as EVP Corporate Development on the Executive Team.

“Eirik has demonstrated strong financial leadership and execution, and he has been instrumental in strengthening our financial performance. I look forward to continuing our work together to develop and position Hexagon in this next phase of growth,” said Philipp Schramm, CEO, Hexagon Composites.

For more information:
Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites
Tel: +47 988 92 161, berit-cathrin.hoyvik@hexagongroup.com

About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility and industrial applications. Learn more at www.hexagongroup.com and follow @HexagonASA on LinkedIn.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/hexagon-composites-asa/r/hexagon-composites-asa–eirik-lohre-appointed-permanent-cfo,c4344308

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Technology

LONGPORT Whale Enters Malaysian Market with Next Generation Trading Infrastructure for Local Brokerages

Published

31 minutes ago

May 5, 2026

LONGPORT Whale, with proven track record across 100+ institutional clients in Asia, makes its Malaysia debut at Bursa Malaysia Stockbroking Trade Fair 2026

KUALA LUMPUR, Malaysia, May 5, 2026 /PRNewswire/ — LONGPORT Whale, a provider of AI-Ready securities trading infrastructure, is making its entry into the Malaysian market at the Bursa Malaysia Stockbroking Trade Fair 2026. The move comes as Malaysia’s Capital Market Masterplan 2026–2030 (CMP4) continues to hone in on local brokerages to modernise core systems, balancing investor experience, regulatory compliance, and operational resilience simultaneously.

Malaysian brokerages are increasingly confronted by a challenge that goes beyond front-end upgrades. Legacy architectures struggle to keep pace with digital-native investor expectations, rising cybersecurity standards, and the demand for multi-market expansion simultaneously. For many such brokerages, the question is no longer whether to modernize, but how to do so without adding complexity or disrupting the business continuity that clients depend on.

Zhong Hua, CEO, LONGPORT Whale, said, “Core trading infrastructure must support continuous evolution — in investor experience, compliance, and AI readiness — without adding unnecessary complexity. The brokerages that lead the next decade won’t be the ones with the best system today; they’ll be the ones whose systems are designed to keep getting better. LONGPORT Whale aims to bring its Asia-proven experience to help Malaysian brokers strike that balance.”

Built on a cloud-native microservices architecture and trusted by more than 100 institutional clients in Asia, Whale’s platform is engineered by industry professionals and refined through years of first-hand operational experience. For the Malaysian market, it addresses four priorities: a best-in-class trading experience validated across competitive, highly regulated markets in Asia; system resilience and performance built for institutional scale, with high system performance and output, real time risk management, and low system latency; global market connectivity spanning Malaysia, Singapore, Hong Kong SAR, US, and Japan without requiring system rebuilds; and an API-first, data-unified architecture that gives brokerages a practical foundation for AI adoption.

Hong Kong SAR and Singapore, where Whale serves online brokers, traditional banking firms, banks and wealth management institutes in a stringent regulatory environment, serve as the primary reference market for its Malaysia expansion. The company said it aims to work with local industry participants as both an infrastructure partner and a contributor to broader conversation on responsible modernization under CMP4.

About LONGPORT Whale

LONGPORT Whale provides integrated securities trading infrastructure to brokers, banks, fund houses, wealth managers, and family offices across Asia. Its cloud-native platform supports multi-market, multi-asset trading across front-, middle-, and back-office workflows, with a deployment model designed for regulatory alignment and long-term scalability. Website: www.longportwhale.com

Media Contact
LONGPORT Whale PR Team
Email: media@longportwhale.com

View original content:https://www.prnewswire.com/apac/news-releases/longport-whale-enters-malaysian-market-with-next-generation-trading-infrastructure-for-local-brokerages-302761411.html

SOURCE LONGPORT Whale

Technology

Thunes and Vodacom Tanzania Unite to Power Cross-Border M-Pesa Payments Across China and Uganda

Published

31 minutes ago

May 5, 2026

Collaboration revolutionises trade & financial convenience for Tanzanian merchants and consumers

SINGAPORE, May 5, 2026 /PRNewswire/ — Thunes, the Smart Superhighway to move money around the world, has joined forces with Vodacom Tanzania, the country’s leading telco company, to transform cross-border trade and digital financial inclusion with Vodacom’s new M-Pesa Global Payment solution. Thanks to the collaboration, Vodacom customers in Tanzania can now seamlessly pay merchants in Uganda and China directly from their mobile phones.

This milestone solution responds to growing demand from Tanzanian traders who engage in commerce with Ugandan and Chinese markets but often face challenges with costly, slow, and insecure payment methods. With this innovation, leveraging the Thunes Direct Global Network, Vodacom aims to bridge those gaps, offering secure, real-time digital payments across borders and reinforcing its leadership in mobile money innovation in Africa.

The solution supports trade with two key markets for Tanzania. For eight consecutive years, China has been Tanzania’s largest trading partner, with bilateral trade hitting $8.8 billion in 2024. In the same year, bilateral trade between Tanzania and Uganda reached approximately $2.23 billion, an increase of 64% on the previous year.

Epimack Mbeteni, M-Pesa Director at Vodacom Tanzania said: “This is more than just a payment feature, it is a catalyst for economic empowerment and a gateway for small and medium businesses and entrepreneurs in Tanzania to compete and thrive in regional and global markets. Through Thunes’ expansive and trusted Network we are enabling seamless, secure, and affordable cross-border payments that empower people, fuel trade and place M-Pesa at the center of Africa’s digital commerce future.”

Through Thunes’ Direct Global Network, customers can now send payments to merchants in Uganda using MTN MoMo and to Chinese merchants through the Alipay network, all through the M-Pesa USSD menu or the M-Pesa Super App. The process is secure, user-friendly, and eliminates the burden of traditional banking barriers for everyday traders and businesses.

Dawei Wang, SVP Network at Thunes, added: “Vodacom Tanzania joining the Thunes Direct Global Network to digitise cross-border payments is a game changer for local businesses. By combining Vodacom’s technology with Thunes’ trusted and proprietary Network, Tanzanian customers can pay partners in China and Uganda in real time. This innovation accelerates interoperability along with international trade and business growth and supports our vision of connecting the next billion end users to the global economy.”

This initiative stands as a strategic enabler for consumers and micro, small, and medium enterprises (MSMEs) who need reliable and quick financial tools such as mobile money. A 2025 GeoPoll survey on Tanzania Financial Services and Usage found that 94% of the survey’s respondents use mobile money.

The Thunes and Vodacom Tanzania alliance is set to transform the lives of millions of consumers by dismantling cross-border barriers. By hyper-connecting Tanzania to global powerhouses like China and streamlining intra-African trade, the collaboration is helping to build an inclusive economy and grow Tanzania’s role as a force in the global market.

About Vodacom Tanzania

For more information, visit: https://www.vodacom.co.tz/

About Thunes

For more information, visit: https://www.thunes.com/

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View original content:https://www.prnewswire.co.uk/news-releases/thunes-and-vodacom-tanzania-unite-to-power-cross-border-m-pesa-payments-across-china-and-uganda-302760085.html