The automotive sector in India is poised for positive growth over the next year, driven by favourable government policies such as the FAME (Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India) II scheme, which has been in effect since April 2019 and encourages states to provide both fiscal and non-fiscal incentives to enhance the adoption of electric vehicles (EVs), according to a recent survey* conducted by GlobalData, a leading data and analytics company.
Madhuchhanda Palit, Automotive Analyst at GlobalData, comments: “While the overall growth of the automotive sector is promising, regional dynamics greatly influence the trajectory of the market. Factors such as advancements in the service sector, the availability of job opportunities, industrialization, and state government initiatives play pivotal roles in shaping the growth of the sector across different regions. Consequently, the growth prospects of the Indian automotive industry present a mixed outlook at the state level, warranting careful consideration of localized factors and strategies for businesses operating in this sector.”
A survey conducted across 31 major cities reveals that 24.7% are anticipated to experience highly positive growth, while 49.5% are expected to see moderate growth. Cities such as Mumbai, Hyderabad, and Pune are among those projected to thrive. Conversely, 7.5% of cities are expected to show flat growth, and 9.7% and 15.5% are forecasted to experience moderately declining and pessimistic growth, respectively, with Chandigarh being a notable example. Therefore, a comprehensive understanding of local market dynamics is crucial for automotive companies to navigate these divergent growth scenarios effectively.
Palit adds: “In Bangalore, a mixed growth outlook has been observed across different areas. While the city overall shows positive growth prospects, challenges such as traffic congestion and the prevalence of ride-sharing services like Uber and Ola may deter consumers from pursuing car ownership, thereby impacting market demand. As automotive companies plan their strategies for the Bangalore market, they need to carefully consider these factors and innovate to ensure sustained market growth.
Cities like Hyderabad and Mumbai are particularly well-positioned for automotive growth, thanks to robust developments in the service sector and job creation. Hyderabad has witnessed a surge in its job market, bolstered by government initiatives that promote start-ups and entrepreneurship. The government’s focus on enhancing the IT and ITES sectors has significantly contributed to job growth, while ongoing infrastructure improvements in roads, transportation, and power supply have made the city increasingly attractive for businesses and job seekers alike. This influx of workforce has, in turn, stimulated demand in the automotive market.”
Palit concludes: “The Indian automotive market is set for a positive trajectory over the next 12 months, driven by supportive government policies and regional economic developments. While certain cities exhibit strong growth potential, others face challenges that may hinder their progress. Stakeholders in the automotive sector should remain vigilant and adaptable to these dynamics to capitalize on emerging opportunities in this evolving landscape. By leveraging insights from these trends, automotive players can better position themselves to thrive in a rapidly changing market environment.”
*Survey was conducted between 1 May 2024 – 17 Feb 2025 with a total of 2,248 participants
The ophthalmic laser market in China is set for substantial growth, with a forecasted compound annual growth rate (CAGR) of approximately 4% through 2033. This growth is attributed to technological advancements in femtosecond and excimer lasers for refractive surgery, as well as a rising prevalence of eye diseases like myopia, reveals GlobalData, a leading data, and analytics company.
The National Medical Products Administration (NMPA) in China has recently approved the VISUMAX 800 with SMILE Pro software from ZEISS, featuring the femtosecond laser technology, that generates lenticule in under 10 seconds with an accelerated laser pulse repetition rate of 2 MHz. This advanced technology promises faster procedures, potentially leading to reduced recovery times and improved visual outcomes compared to traditional refractive surgery.
Shamreen Parween, Medical Devices Analyst at GlobalData, comments: “Traditional ophthalmic laser procedures have certain limitations, including a higher risk of complications, longer recovery times, and less predictable results. However, the advent of advanced laser techniques, coupled with hospital modernization, and increased R&D investment, is contributing to the increased accessibility and demand for advanced ophthalmic care.”
The ZEISS VISUMAX 800 further offers a smart, computer-assisted cyclotorsion and centration aid, providing enhanced precision and control during the procedures. Utilizing advanced technology, and shorter treatment durations, this system represents a significant leap forward in ophthalmic laser surgery.
Parween concludes: “The future of laser-based refractive surgery appears promising due to the advancements in personalized treatments, minimally invasive procedures, artificial intelligence integration, and enhanced accessibility. These developments are poised to improve precision, safety, and patient outcomes on a global scale. Consequently, this sector may garner increased investment from both the domestic and international stakeholders.”
Canada is providing a total of CAD 2 million over the next three fiscal years to support APEC’s efforts in promoting inclusive and sustainable economic growth across the Asia-Pacific region.
The contribution, delivered through a grant arrangement with Global Affairs Canada (GAC) reinforces Canada’s commitment to translating APEC’s policy directions into tangible outcomes that benefit all member economies.
“This contribution is a significant step in our commitment to ensuring that economic growth in the Asia-Pacific is both inclusive and sustainable,” said Alan Bowman, Canada’s Senior Official for APEC. “By supporting targeted capacity-building initiatives and the work of the Policy Support Unit, we are helping to build a resilient regional economy where even the most vulnerable communities can benefit.”
Under the grant arrangement, payments will be made in three instalments: CAD 667,000 in 2025; CAD 667,000 in 2026; and CAD 666,000 in 2027. The funds are designated to support key capacity building initiatives that help bridge gaps in economic participation and drive sustainable development.
Canada’s contribution will support three critical areas of APEC’s work. First, it will bolster the Micro, Small and Medium Enterprises (MSME) Sub-Fund, which aims to directly involve developing economies’ MSMEs in project activities that promote inclusive growth and poverty reduction.
Second, the Women and the Economy Sub-Fund will receive support to advance women’s economic participation, enhancing legal and institutional frameworks to empower female entrepreneurs and workers.
Finally, a portion of the funds will be directed to the APEC Policy Support Unit, the research and analysis arm of APEC, to strengthen its ability to provide high-quality, evidence-based policy recommendations.
APEC-funded projects play a vital role in translating the policy directions set by APEC Economic Leaders and Ministers into practical actions. Each year, APEC provides funding for over 100 projects that aim to enhance trade, drive innovation, and promote sustainable development. Canada’s new contribution will add to these efforts by strengthening the capacity of member economies to implement reforms that are critical for long-term prosperity.
Eduardo Pedrosa, Executive Director of the APEC Secretariat, highlighted the broader impact of Canada’s contribution. “Canada’s support for our inclusive and sustainable growth initiatives reinforces the shared vision of an Asia-Pacific that is dynamic, open, and resilient. This funding will enhance our ability to deliver quality research, build capacity, and support projects that create real economic opportunities for people across the region.”
In addition to supporting MSMEs and women’s economic empowerment, the grant will assist in furthering projects that improve the quality of APEC’s deliberations and decision-making processes. The Policy Support Unit provides critical data, analysis, and policy support that help APEC member economies design and implement initiatives aimed at achieving balanced and sustainable growth.
By contributing to these targeted sub-funds, Canada is not only reinforcing its longstanding commitment to regional cooperation but also setting a precedent for how public funds can be used to foster long-term economic security and prosperity. The impact of this grant will be felt through improved trade environments, strengthened regulatory frameworks, and enhanced capacities that empower businesses and communities alike.
For further details and media inquiries, please contact: [email protected]
Headline: DDG Zhang welcomes 2025 participants in two WTO technical assistance programmes
In his welcome remarks, DDG Zhang told participants: “You have come to the WTO at a very important time. We will shortly be commencing preparatory work for the 14th WTO Ministerial Conference (MC14), scheduled for Yaoundé, Cameroon in March 2026. During your presence in Geneva, you will have the opportunity to be at the forefront of this very important aspect of the WTO’s work.”
DDG Zhang said that participants in both programmes will have the opportunity to experience first-hand the work of the WTO, including witnessing how trade policy is shaped in the WTO, attending meetings in areas of direct interest to their economies, and interacting closely with the WTO Secretariat.
A total of 18 participants were selected for the French Irish Mission Programme this year. Funded by France and Ireland, this programme aims to support Geneva-based government officials from developing and least-developed WTO members to engage in WTO activities. Participants will gain valuable hands-on experience in trade policy development by working directly within their respective permanent missions in Geneva.
Emmanuelle Ivanov-Durand, France’s Permanent Representative to the WTO, said: “The experience you will gain here will be a tremendous asset, both for your own career paths and for your governments. France’s support for this programme reflects our commitment to an inclusive multilateral system.”
Noel White, Ireland’s Ambassador and Permanent Representative to the United Nations Office and other international organizations in Geneva, underlined that: “Ireland attaches great importance to its long-standing association with and support for the French Irish Mission Programme. Ireland’s development cooperation programme, which lies at the heart of our foreign policy, recognises the importance of inclusive and sustainable international trade to promote economic development and alleviate poverty. We are working on arrangements and hope to be able to welcome all the participants to Ireland as we did last year to share the lessons we have learned as a small, open economy with global trade connections.”
The 16 officials selected for this year’s Netherlands Talent Programme, which is funded by the Netherlands, will benefit from on-the-job training in various divisions of the WTO Secretariat. The programme offers participants the opportunity to develop an in-depth understanding of the multilateral trading system and to contribute actively to WTO initiatives.
Audrey Goosen, Ambassador and Deputy Permanent Representative of the Netherlands to the WTO, explained that the name of the programme was recently changed to “Netherlands Talent Programme” to reflect the high level of expertise that previous participants have brought to the WTO. She told participants: “I hope that the insights that you will gain over the next months will make trade work as an engine for sustainable economic growth and job creation in your countries.”
In 2024, ADB made a commitment for climate finance to reach 50% of its total annual committed financing by 2030, as it progresses towards delivering over $100 billion in cumulative climate finance from its own resources from 2019 to 2030. ADB aims to ensure that 75% of its number of operations (on a 3-year rolling average) will support climate change mitigation and/or adaptation by 2030.
From 2019 to 2024, ADB has already reached $41.9 billion towards this commitment, investing in its operations (including both regular and concessional ordinary capital resources, as well as Asian Development Fund grant resources). This includes $11.1 billion committed in 2024, of which $1.6 billion is non-sovereign financing. From 2022 to 2024, the share of ADB operations supporting climate action has already reached 91%, surpassing the target for the second year in a row.
Source: Australian Petroleum Production & Exploration Association
Headline: Media Release: WA gas industry congratulates Cook Labor Government on re-election – Australian Energy Producers
WA’s oil and gas industry congratulates Premier Roger Cook on WA Labor’s re-election, and looks forward to continuing to work with the government to deliver reliable and affordable energy to WA and the region.
Australian Energy Producers Chief Executive Samantha McCulloch said WA’s economy runs on natural gas, providing more than half of WA’s primary energy and 60 per cent of the state’s electricity.
“Premier Cook has been a strong supporter of WA’s oil and gas sector, recognising its importance to the WA economy and the state’s energy security, and the critical role that natural gas plays in reducing emissions in Australia and the region,” Ms McCulloch said.
WA’s gas industry contributes $35 billion a year to the WA economy and supports more than 73,000 jobs in the state. Natural gas also provides more than half the energy used by WA’s mining and minerals processing sector that drives the state’s economic growth.
“At a time when cost-of-living pressures and energy security are front of mind, the oil and gas industry is committed to providing reliable and affordable energy for WA and the region.”
Ms McCulloch said the industry was committed to working with the WA Government to progress key policies including bringing on new gas supply to avoid forecast gas shortfalls from 2030, unlocking new onshore gas exploration and development, and progressing the implementation of the Government’s Carbon Capture, Utilisation and Storage (CCUS) Action Plan released in November.
“WA’s gas sector has a critical role to play in reducing emissions in WA and the region, while continuing to provide reliable and affordable energy to WA homes and businesses. CCUS will be essential to achieving net zero by 2050 and presents significant economic opportunities for WA.”
Ms McCulloch said WA’s gas industry valued the strong bipartisan support of the Liberals and Nationals for the sector, which provides policy certainty and stability that is so critical to business confidence and encouraging investment.
“A strong gas industry is essential for a strong WA economy, and we look forward to working with all elected members in the next parliamentary term.”
Senior officials are gathering in the historic city of Gyeongju to outline the year’s key priorities, focusing on enhancing regional connectivity, fostering innovation, and promoting prosperity that benefits all. The discussions are a critical step in shaping the policies that will guide APEC through a rapidly changing global landscape.
“This is a pivotal moment for our region,” said Ambassador Yoon Seongmee, Chair of the 2025 APEC Senior Officials’ Meeting as she opened the meeting on Saturday. “Our goal is to reinforce our shared commitment to a future that benefits all of our people.”
“The theme for 2025, ‘Building a Sustainable Tomorrow’, reflects the shared ambition of fostering an open, dynamic, and resilient Asia-Pacific,” Ambassador Yoon added. “To realize this vision, we must prioritize both connectivity and innovation to secure long-term prosperity.”
Ambassador Yoon also emphasized that 2025 will see APEC prioritize discussions on how to explore avenues for cooperation in artificial intelligence (AI) technology and address the impacts of demographic changes.
Stressing that rapidly advancing AI technology and demographic shifts have far-reaching impacts across all aspects of our members’ societies, Ambassador Yoon emphasized the need for the region to work together to address these challenges and identify new opportunities in a way that is both sustainable and beneficial to all.
“It is time for APEC to tackle these trends to ensure that the region remains adaptable and capable of sustained growth,” she stated.
Eduardo Pedrosa, Executive Director of the APEC Secretariat, highlighted the concerns of businesses around the region, noting the unpredictable environment where investments are put on hold and fewer jobs are created.
“Ensuring connectivity means ensuring that trade continues to flow smoothly and that economies across the region remain integrated. APEC plays a key role in fostering these connections and promoting collaboration, especially as we navigate global uncertainties,” said Pedrosa.
“Through dialogue, stakeholder engagement and partnership, we can continue to create opportunities that benefit everyone, regardless of the challenges that may arise,” Pedrosa added.
The meeting will see senior officials adopt strategies for deepening regional cooperation. These include bridging digital divide, promoting sustainable growth and fostering innovation through digital trade and policy alignment across member economies.
Additionally, Ambassador Yoon emphasized that for APEC, often referred to as an “incubator of ideas”, to develop collective responses to these challenges, it is essential to further strengthen cross-fora collaboration among APEC’s various forums, as well as public-private engagement, one of APEC’s key characteristics.
In the next session on Sunday, senior officials will delve deeper into APEC’s plans to strengthen digital economy integration and tackle issues such as public health, food security, supply chain disruptions and sustainable development.
“This meeting sets the stage for continued dialogue and collective action, ensuring that the initiatives discussed today will lead to concrete outcomes in the coming months,” conclude Ambassador Yoon.
A series of sectoral ministerial meetings will follow in the year, further shaping the policy directions that will guide APEC’s work.
Economic growth in the APEC region remains stable in the short term, yet medium-term prospects face mounting risks as trade restrictions, fiscal pressures and geopolitical uncertainties continue to evolve, according to the latest APEC Regional Trends Analysis.
The report projects GDP growth of 3.3 percent in 2025, following an estimated 3.5 percent expansion in 2024, though a further slowdown to 2.7 percent is anticipated in the coming years. Structural challenges, including demographic shifts and rising trade barriers, are expected to weigh on future economic trajectory.
“The region’s growth trajectory reflects both resilience and vulnerability,” said Carlos Kuriyama, Director of the APEC Policy Support Unit. “While we are seeing steady economic activity, sustained growth will require proactive reforms, particularly in trade policy and fiscal management.”
Trade performance in the region has shown modest recovery, with merchandise trade in the first nine months of 2024 increasing by 3 to 4 percent in 2024, reversing the sharp contraction seen in 2023 on a year-on-year basis. However, the number of trade remedies surged to 1,043 by the end of 2024, up from 960 in 2023, highlighting ongoing worries on unfair trade practices.
Moderating inflation trends, on the other hand, offer a measure of relief, with rates easing to 2.6 percent in 2024, compared to 3.8 percent in 2023. This has provided central banks with greater policy flexibility. However, increasing trade restrictions and geopolitical risks could reintroduce price pressures, potentially limiting interest rate adjustments.
“While inflation has moderated, risks remain,” said Rhea C. Hernando, an analyst with the Policy Support Unit. “Ongoing global risks, rising protectionism, and shifts in trade policy could complicate efforts to maintain price stability in the months ahead.”
The region’s fiscal position remains fragile, as sustained government expenditures continue to outpace stagnant revenue collection, which has hovered around 28 to 29 percent of GDP for over two decades. Without fiscal adjustments, rising public debt levels could strain economic resilience.
Meanwhile, global financial volatility has driven investors toward safe-haven assets, pushing gold prices to record highs. Escalating economic and geopolitical uncertainties, reflected in the sharp rise in policy uncertainty indices since 2020, have fueled increased hedging.
“Macroeconomic stability hinges on careful fiscal planning,” said Glacer Niño A. Vasquez, a researcher with the Policy Support Unit. “Governments need to strike a balance—ensuring fiscal prudence while enhancing investments in infrastructure, digital transformation, and human capital to boost productivity and growth.”
The report underscores the urgent need for structural reforms to sustain long-term economic momentum. Flexible and coordinated monetary and fiscal policies will be necessary to control inflation while preserving growth potential. Deeper regional cooperation will be essential to foster open trade and investment while addressing shared challenges. Productivity-enhancing reforms that promote innovation, technological adoption, and workforce skills development will also be critical to securing APEC’s long-term economic future.
“As global uncertainties persist, APEC economies must reinforce trade openness, strengthen policy coordination, and pursue long-term reforms,” Kuriyama concluded. “A forward-looking approach will be crucial in fostering a resilient and sustainable regional economy.”
For more information on the APEC Regional Trends Analysis, March 2025, visit this page.
Deborah, thanks for being here with us today. Can you share some memorable experiences growing up that shaped who you are today?
No problem! My father was an airplane engineer and sometimes took me to his workplace where I saw all the stages that went into building an aircraft. This experience kick-started my fascination with industries that are constantly evolving and using technology to push the boundaries for what can be achieved.
What dreams and goals did you have growing up, and how did they influence your career path?
I have always been a sports fanatic – as a typical Canadian, I love skiing and ice hockey, but I also am a keen cyclist and sailed competitively for many years. I believe sports teach you passion, the importance of being a team player, and discipline – all skills that have served me well throughout my life. My love for sports led me to working for Nike previously, and in my current role, it gives me lots of opportunities to test our wellness products and features such as Samsung Health. My favourite accessory is my Galaxy Watch!
Was there a particular turning point or pivotal experience that sparked your inspiration and set you on your current path?
Throughout my career, I’ve been attracted to brands that give their customers a better experience through innovation. I was part of the team that came up with introducing Wi-Fi connectivity at Starbucks – evolving it from a place where you can get a great cup of coffee to a space where you can connect and be productive. That experience showed me the impact innovation can have in completely transforming a business.
What motivated you to join Samsung, and how did you make the decision to become part of the team?
As someone who wants to be at the forefront of innovation, the opportunity to join Samsung was a complete no-brainer. I believe we are going through one of the most exciting phases of change in our history. The AI revolution is one of the most important technological shifts we’ll experience in our lifetime, and I’ve loved being part of the journey bringing this to customers.
Can you describe your current responsibilities at Samsung?
My role is all about putting the customer at the centre of our offering. When buying from us, our customers don’t see divisions; they see one brand. My role is to bring the strength of our ecosystem together for our customers – consumers and businesses – so that we can help them get more out of their tech and their relationship with us..
This is done first through 360 brand campaigns and corporate storytelling that bring to life the value of our innovations to consumers. It also means working together with all our divisions and functional teams to keep enhancing all points in the consumer journey pre + post purchase. It lives in physical spaces such as our flagship retail space, Samsung KX, in London which shows the power of our ecosystem in one place, and online through our live commerce, ecommerce and social channels.
How has Samsung supported your personal and professional growth?
I am proud to be the executive sponsor of the UK ERG Women@Samsung – a brilliant collective of women who volunteer their time to make Samsung UK & Ireland a more inclusive workplace. In my first year at Samsung, I found it a warm, welcoming community and a chance to meet the inspiring women in our UK & Ireland team.
What is the most important keyword that keeps you motivated and inspired, and why does it resonate with you?
These are technically three – but I stand by ‘Power the Possible’. This can mean inspiring the best work in myself and team, as well as what we do every day when bringing our products to market. At Samsung, I believe our products help people live better lives – whether that’s running a business or a marathon!
What dreams or goals do you hope to achieve in the future, both personally and professionally?
I believe technology has the potential to achieve good in society and can level the playing field for underrepresented groups, and I would love to do more in this space. I am a champion of our Solve for Tomorrow programme which supports and funds young people to develop their confidence and skills to use technology to solve societal problems. My ambition is for this programme to reach more young people and have even greater impact.
What advice would you like to share with the world to help them navigate their own inspiration journeys?
My advice is to build your tribe. Never underestimate the power of your network to lean on when you need coaching, inspiration or advice. Look out for networks such as Women@Samsung, or if they don’t exist build your own. There are so many brilliant women who have helped me in my career and I believe in the importance of paying it forward to the next generation.
In a city where tradition and innovation converge, senior officials from across the Asia-Pacific gathered in Gyeongju with representatives from specialized technical working groups and policy partnerships—each focusing on areas such as energy, telecommunications, and skills development—to discuss the year ahead.
Their collaborative work aims to advance growth and prosperity across all member economies and is a key part of Korea’s forward-looking 2025 host year theme, “Building a Sustainable Tomorrow.”
“Our agenda for economic and technical cooperation in 2025 is not merely about addressing today’s issues; it’s about laying a solid foundation for the Asia-Pacific of tomorrow,” remarked Cheng Lie, Chair of the APEC SOM Steering Committee on Economic and Technical Cooperation (SCE).
“We must harness digital transformation, foster sustainable practices, and drive economic integration to build a future that is both resilient and inclusive,” Cheng Lie added, emphasizing that the region’s long-term prosperity hinges on innovative policy solutions that bridge current challenges with future opportunities.
Central to the committee’s work is bolstering capacity building across key economic drivers—trade and investment; innovation and digitalization; and sustainable, inclusive growth—with a focus on areas such as artificial intelligence (AI), digitalization, and demographic shifts in the region.
By leveraging emerging technologies, the SCE’s working groups and policy partnerships aim to accelerate public service delivery and promote a competitive digital economy across the region, envisioning a digital ecosystem that empowers governments, businesses, and citizens alike.
Environmental sustainability also took center stage, with discussions highlighting the need to integrate green policies into the broader economic agenda. The SCE will continue to lead on the annual Bio-Circular-Green Award, an initiative that recognizes distinguished individuals implementing sustainable approaches.
Senior officials stressed the importance of collaboration, underscoring that a coordinated approach is essential to overcome the challenges posed by rapid globalization and technological change.
The outcomes of this meeting will serve as critical input for subsequent APEC discussions, reinforcing the region’s resolve to navigate global challenges with cohesive and forward-looking economic cooperation.
Source: African Development Bank Group The African Development Bank Group is showcasing its transformation of Africa’s financial sector to provide Africa’s women entrepreneurs billions of U.S. dollars to grow their businesses at an event organized by French President Emmanuel Macron ahead of International Women’s Day.
Headline: Angela Merkel highlights multilateralism’s role in global co-operation, women’s participation in trade
In her lecture titled “Empowering women through multilateral cooperation”, Dr Merkel highlighted the importance of establishing rules and standards to ensure women have equal access to economic opportunities. She underscored that supply chain diversification presents unique opportunities for women, particularly in emerging and developing economies. She called on more women to be engaged in these expanding markets and for countries to draw on a broader talent pool, driving innovation and growth.
The former German Chancellor noted that global institutions like the WTO play a significant role through initiatives such as the Informal Working Group on Women and Trade and various other initiatives that produce empirical evidence of the benefits of multilateralism for women. Additionally, the WTO collaborates with other international bodies, such as the World Bank, the International Development Fund (IDF) and the Organisation for Economic Cooperation and Development (OECD), to advance policies that enhance women’s participation in the global economy. These partnerships aim to create equitable trade policies that ensure women’s access to finance and opportunities in global markets, she said.
Beyond women’s rights, Dr Merkel emphasized the broader significance of multilateralism in achieving economic stability. Acknowledging the current challenges of multilateral cooperation, she called on the audience to maintain strong convictions about what international cooperation has achieved in recent decades in terms of economic growth and poverty reduction around the world.
Stressing the relevance of the WTO as the organization that accounts for 98 per cent of global trade, Dr Merkel stressed the pivotal role the multilateral trading system has played in providing global economic stability, fostering international trade and promoting open and fair markets to the advantage of both industrialized and developing countries. Drawing from the lessons from past global economic crises, she emphasized the role governments and international organizations have played in mitigating financial and health crises and enabling economic resilience.
One of the priority areas for discussion she mentioned was the WTO Appellate Body and the need to restore it as it has an essential role in enforcing trade agreements and maintaining the credibility of the organization. Ensuring there is an Appellate Body that has teeth and is operational will be central to global trade governance in the future, she noted.
The former German Chancellor said the European Union is proof that multilateralism is complicated but with sufficient political will it offers a win-win solution for all. She expressed hope that all the important players on the international trade scene would be able to understand this and not reject the fact that the path of consensus always leaves the doors open for mutual benefits.
In her welcoming remarks, WTO Director-General Ngozi Okonjo-Iweala referred to Dr Merkel as a “stalwart supporter” of the multilateral trading system and the WTO. She is someone who was a “central actor in the global arena” over a 16-year tenure that was marked by economic and health crises, she added.
DG Okonjo-Iweala highlighted persistent gender gaps in political and business leadership, within societies and homes, and in organizations such as the WTO. “For all the progress we have made, we still have a long way to go. But Dr Merkel has helped us envision a more equal world. When Olaf Scholz succeeded her as Chancellor in December 2021, a generation of German boys discovered that the country’s top job could also be done by a man,” she said.
DG Okonjo-Iweala also reflected on the “grave challenges” the international economic order is currently confronting. She emphasized that despite all of its shortcomings the system has for 80 years enabled unprecedented prosperity and poverty reduction. “Conflict and climate change are exacting a growing human toll. Progress on economic development and gender equality is stalling. Rising economic uncertainty is diminishing people’s prospects – nowhere more so than in the poorest countries,” she said.
In this context, DG Okonjo-Iweala stressed the importance of the WTO and the need for members to be mindful of the power of cooperation and understanding. She cited an early speech of Dr Merkel to the European Parliament where she said that in order to reach agreements, things must be looked at through other people’s eyes. “We need more of that here,” she said.
The Director-General mentioned her recent trip to Washington D.C., where she met with the Secretary of Commerce Howard Lutnick and the United States Trade Representative (USTR) Ambassador Jamieson Greer. Despite criticisms of the WTO in a recently released report, the US signalled its intent to remain engaged in the organization, she said. This suggests there is an opportunity to address their concerns through existing WTO mechanisms, reinforcing the importance of continued dialogue and cooperation within the organization, she added.
Dr Merkel’s lecture was followed by a fireside chat moderated by Richard Quest, CNN’s international business correspondent. Held in conjunction with International Women’s Day, the lecture and discussion served as an opportunity to highlight female leadership and women’s empowerment in international economic governance.
A recording of the event can be viewed here.
Presidential Lecture Series
The lecture series provides a platform for distinguished speakers from all walks of life, ranging from presidents, prime ministers and high-level politicians to business leaders, scientists, authors and philanthropists, to discuss multilateral cooperation and global governance issues, including trade-related matters and sustainable development goals. Several lectures are held annually at the WTO’s headquarters in Geneva.
More information on the lecture series is available here.
Headline: Working group on MSMEs focuses on good regulatory practices and informal economy
Good regulatory practices and the informal economy
The United Kingdom provided an overview of its Better Regulation Framework (BRF), launched in September 2023, which aims to manage the flow of regulation and assess its impact on business. The UK outlined its approach to regulatory impact assessment and stakeholder consultation to ensure MSMEs’ input is included in policy development and review to maintain regulatory effectiveness.
Participants exchanged views on the involvement of MSMEs in trade regulation and legislative processes, the communication of regulatory changes, and whether impact studies have been conducted to assess the effects of new regulations on MSMEs. Discussions also covered the inclusion of good regulatory practices in regional trade agreements, particularly in relation to MSMEs and inclusive trade.
As an outcome of the discussions, the Group agreed to develop a compendium on good regulatory practices for MSMEs.
The session also featured presentations from the International Labour Organization (ILO), the International Trade Centre (ITC), the World Bank and Serviço Brasileiro de Apoio às Micro e Pequenas Empresas (SEBRAE, Brazil) on business informality, focusing on challenges faced by MSMEs in transitioning from the informal to the formal economy. Presentations also covered how informal trade takes place in practice in some regions. The discussion, initiated by a proposal from Mexico, highlighted key barriers to formalization and the role of legal frameworks and international cooperation in addressing these challenges.
Global SME Ministerial Conference
H.E. Dr. Mzukisi Qobo, Ambassador of South Africa, briefed the Group on the upcoming Global SME Ministerial Conference, which will take place in Durban, South Africa, from 22 to 24 July. He highlighted that the conference will provide opportunities to MSMEs to engage with investors, showcase success stories and learn from small businesses that have successfully entered global value chains.
Ms Dorothy Tembo, Deputy Executive Director of International Trade Centre, stated that the conference aims to bring together 47 dedicated ministers on SMEs to exchange best practices and discuss key emerging issues that affect small businesses.
Success stories
In line with the Group’s efforts to strengthen private sector engagement, the meeting featured a presentation from Fairafric, a Ghanaian-German chocolate producer. The company shared insights on overcoming supply chain challenges in West Africa and at a global scale by prioritizing local value addition in Ghanaian communities and investing in capacity building and finding creative solutions. Fairafric operates the first solar-powered organic chocolate factory and utilizes biodegradable packaging, showcasing sustainability in its business model.
Updates
The World Customs Organisation provided an update on the joint report on the integration of MSMEs into Authorized Economic Operator Programmes. The joint report builds on the compendium on the topic and incorporates findings from a 2024 survey. The report is jointly prepared by the WCO, the WTO and the International Chamber of Commerce.
Brunei Darussalam, Paraguay and Ukraine shared updates on the implementation of the December 2020 MSME package of recommendations. They highlighted how their latest trade policy reviews have incorporated information on measures taken to integrate their micro small and medium-sized enterprises into global trade.
The Coordinator, Ambassador Matthew Wilson of Barbados, drew members’ attention to the 2025 Small Business Champions competition. The title of this year’s competition is “Completing the Loop: Helping small businesses contribute to the circular economy”. The competition was launched on 28 January and is open for applications until 28 March.
Preparations for MC14
The Group exchanged views on advancing its work in preparation for the 14th Ministerial Conference (MC14) in March 2026. The Coordinator suggested drawing lessons from past thematic discussions. Other ideas included the development of a handbook based on private sector engagements organized by the Group. Members were encouraged to submit concrete proposals reflecting topics discussed in Group meetings. The Coordinator will consult further with members to determine the best way forward.
Headline: WEIDE Fund for women entrepreneurs to start roll-out in four beneficiary countries
WTO Director-General Ngozi Okonjo-Iweala said: “As you all know, digital trade is the fastest-growing segment of global commerce, with trade in digitally delivered services reaching an astounding US$ 4.25 trillion in 2023. With digital trade, women entrepreneurs have the opportunity to leapfrog market barriers in a way that was impossible before. This fund represents a unique opportunity for women entrepreneurs to develop their businesses, create jobs, and expand into international markets.”
“In our first four partner countries, the WEIDE Fund will kick off with business plan competitions, giving women entrepreneurs a chance to access tailored financial and technical support. Applications will open in these countries, inviting women entrepreneurs to submit their business plans and proposals. Our goal is ambitious but clear: in this first phase we want to empower 400 women entrepreneurs, reshaping the entrepreneurial landscape of these countries and setting a new standard for inclusive economic growth,” DG Okonjo-Iweala said.
ITC Executive Director Pamela Coke-Hamilton said: “Each of these institutions has an impressive track record of empowering the women entrepreneurs in their countries, and deep expertise in the new technologies and tools that are part and parcel of our increasingly digital world. They are ready and raring to go—and we are too.”
The following four business support organizations will be supporting implementation in the beneficiary countries: ProDominicana, the Jordan Enterprise Development Corporation (JEDCO), the Mongolian National Chamber of Commerce and Industry (MNCCI), and the Nigerian Export Promotion Council (NEPC).
Two tracks of assistance will be available for women entrepreneurs. Track One, the Discovery Track, will help women-led micro and small businesses increase their competitiveness, with a focus on improving digital skills, expanding professional networks and enhancing market access. The programme of support is expected to last approximately 9-12 months.
Under Track One, the WEIDE Fund will provide an initial grant of between US$ 2,000 and US$ 5,000 to each selected business to provide working capital or for the purchase of equipment. This grant will be disbursed in two instalments, with each business required to set clear business objectives, demonstrate commitment to the aims of the Fund and undergo performance checks. In addition, technical assistance will include business coaching and a resulting business plan that will guide the entrepreneur on how to use the resources provided through the discovery grant.
Track Two, the Booster Track for more established enterprises, will help exporting/export-ready women-led small and medium sized businesses scale up their export activities and expand their markets, with a focus on using digital platforms to do so. The programme for each business is expected to last approximately 18 months.
Under Track Two, the WEIDE Fund will provide a booster grant of up to US$ 30,000. Moreover, the technical assistance associated with the Booster Grant includes bespoke coaching to help the enterprise develop a business acceleration plan. More information on the two tracks of assistance is available here.
Unveiled by the WTO Secretariat and the ITC in February 2024 at the 13th Ministerial Conference (MC13) in Abu Dhabi, the WEIDE Fund aims to increase the participation of women entrepreneurs in global value chains, resulting in expanded economic opportunities and improved livelihoods. It also aims to increase the adoption of digital technologies by women entrepreneurs, including expanding their presence on digital platforms. Since its launch, the WEIDE Fund has already raised US$ 22 million, with a goal of reaching US$ 50 million.
More information on the WEIDE Fund can be accessed here.
Headline: WTO Chairs Programme event in Mexico stresses importance of advancing inclusive trade
WTO Deputy Director-General Xiangchen Zhang delivered opening remarks via video link . He reaffirmed the WTO’s commitment to advancing inclusive trade and praised the active role of the Latin American and Caribbean Network, particularly those from Brazil, Chile, Colombia, Costa Rica, Mexico, and Peru, in helping to achieve this goal at this workshop. “The Latin American and Caribbean Network of the WTO Chairs Programme has once again brought us together through their work on trade and inclusivity — and their efforts on this topic have boosted its visibility,” he said. His full remarks are available here.
France’s Permanent Representative to the WTO, Ambassador Emmanuelle Ivanov-Durand, also expressed her support for strengthening inclusive trade, stating: “This workshop looks at each of the vulnerabilities related to gender, disability or belonging to a minority community and sees how trade policy can restore equal opportunities to start to ensure that these groups can actively participate in the productive and export activities of their countries.”
Director-General Cynthia Zimmermann of the Austrian Ministry for Labour and Economic Affairs said: “Austria is proud to play a role in strengthening academic capacity and creating opportunities for trade that uplift all members of society. This is our investment dedicated to maintaining and enhancing trade expertise in regions where it is particularly relevant. Together, I am confident that we will influence how ‘inclusive trade’ is perceived, discussed, and negotiated in both academic and policy-making corridors.”
The workshop explored various aspects of inclusive trade, including conceptualizing inclusive trade policies for indigenous communities, trade law related to disability, addressing the needs of least developed countries (LDCs), and trade policies for youth and other marginalized groups. Participants also examined the intersection of these aspects, and are preparing a joint publication on the topic. Their work will consolidate diverse perspectives and share experience from different regions.
Deputy Director-General Zhang also commended the Latin American and Caribbean Network for championing work on trade and gender, with several workshops in the region yielding prominent outcomes. Four members from the Chairs Programme institutions in Barbados, Chile, Costa Rica and Mexico are currently part of the WTO Gender Research Hub.
On the sidelines of the workshop, Dr. Amrita Bahri, Associate Professor of International Trade Law at ITAM and Co-Chair of the WTO Chairs Programme in Mexico, launched her latest publication titled “Trade Agreements and Women: Transcending Barriers.” The book offers guidance for policymakers on how to incorporate gender considerations into trade negotiations.
For more information on the work of the Chairs, please visit the WTO Chairs Programme e-Platform.
Distinguished guests, WCP Chairs, and representatives,
It is undeniable that we need to make trade more inclusive. But what does that mean? Why does it matter? These are questions that deserve attention.
With this in mind, the Latin American and Caribbean Network of the WTO Chairs Programme has once again brought us together through their work on trade and inclusivity. I extend my thanks to the different teams involved in organizing this workshop – especially the WCP Chair in Mexico – which is held in collaboration with the WTO Trade and Gender Office as an activity under the Chairs Programme, and with the support of the Ministry of Economy.
This event will consolidate discussions on the seven different pillars of inclusivity with the goal of publishing an extremely relevant book.
This book will include perspectives from different regions of the world, drawing on experience from trade negotiators and policy makers in Africa, New Zealand, Asia, and Europe. I would like to thank each of the other WCP Chairs involved as well – the network in Brazil, Chile, Colombia, Costa Rica, and Peru. We recognize that your efforts on this topic have boosted its visibility.
There is of course no part of the world where the diverse needs of women, indigenous peoples, youth, individuals with disabilities and other marginalized groups are not important.
Trade and women
Trade contributes to SDG 5 by creating economic opportunities for women and increasing their income. Firms that export employ more women than men and provide them with formal jobs. This secures their economic empowerment. Similarly, women entrepreneurs can gain from expanding to foreign markets, as trade can help them strengthen and diversify their economic activities. Evidence shows that this leads to changes in women’s social status and improves their rights.
However, trade is not gender-neutral. Women face higher barriers than men in accessing the opportunities created by trade. Data shows that these barriers are often grounded in negative social norms. In fact, according to the World Bank, women have only less than two thirds of rights of men. This is why governments have been developing gender-responsive trade policies, with measures supporting women in reaping the benefits of trade and sometimes directly addressing these social imbalances.
Women are highly active in targeting international markets. Globally, women comprise two fifths of entrepreneurs (40%) serving a national or international market, while men comprise three fifths (60%) in both cases.
Discussions at the WTO
At the WTO, in the last 8 years, members have joined forces to ensure that trade acts for the benefit of women’s empowerment. Over two-thirds of the membership are actively working to address the trade barriers faced by women.
In 2020, we reached an important milestone and established the Informal Working Group on Trade and Gender.
This initiative, which began in 2017 on the sidelines of the 11th Ministerial Conference, brought together 118 WTO members and observers to promote women’s participation in global trade. The primary goal of this Working Group is to mainstream gender in the work of the WTO and in trade policies.
At the 13th WTO Ministerial Conference, ministers collectively acknowledged the intrinsic links between women’s economic empowerment, trade and sustainable development. Furthermore, the co-chairs of the Informal Working Group issued a powerful statement that reaffirmed our commitment to advancing gender equality within the trade sphere, highlighting the significant achievements of WTO members’ joint work and taking bold commitments.
At the Ministerial Conference, members have also launched the first gender-responsive trade policy tool, in the form of a compendium mapping all the measures they implement to support women entrepreneurs’ access to finance.
Our approach to this issue has been both cross-cutting and collaborative, particularly through the World Trade Gender Research Hub.
Created in 2021, the Hub gathers 45 researchers and experts on trade and gender, including some Chairs.
The WCP Latin American and Caribbean Network is well known for its work on trade and gender – and I’m proud to congratulate the WCP Co-Chair in Costa Rica on his appointment as a member of the Hub, bringing the total number of Chairs in this group to four.
This year, the WTO will host the second edition of the World Trade Congress on Gender, under the theme “Gender Equality and Innovation, the Keys to Sustainable Trade”. We will organise this research conference in partnership with UN Women and jointly with the Hub. This year, it will gather more than 60 researchers to present groundbreaking work on trade, gender and innovation.
Beyond research, the WTO has partnered with different organizations such as the World Bank, UNCTAD, the FAO and UN Women to develop effective solutions and drive progress.
As you will also see from the discussions, inclusivity has several different facets.
Our economies should not leave any communities at a disadvantage.
Trade and disabilities
Another stark reality we are faced with is that globally, one in six adults lives with some form of disability. They are a significant part of our global population, yet their economic needs and perspectives are frequently pushed aside in discussions about trade and economic policy. This does a tremendous disservice to them, and to economies as a whole.
Our recent establishment of an informal, staff-level Inter-Agency Working Group on Trade and Disability Inclusion is a promising step forward in this area. Alongside UNCTAD, the ITC, and the ILO, we aim to empower governments to bring disability inclusion into their policy discussions, ensuring that persons with disabilities are fully supported and included in the global economy.
Indigenous communities
Trade is also significant for indigenous communities, in particular those that have been historically marginalized. In 2024, the WTO’s Small Business Champions Winners initiative focused on leveraging international trade to foster economic development and innovation for indigenous peoples worldwide.
Trade provides them with essential economic opportunities, reducing poverty and economic disparities.
Through their businesses, which emphasize environmental stewardship, it also benefits the wider economy by promoting sustainable and ethical consumption patterns. Supporting indigenous trade helps preserve unique cultural expressions, crafts, and arts that have been passed down through generations.
Youth
Also with the next generation in mind, the WTO has launched two major initiatives jointly with the WTO Gender Research Hub.
In 2023, we organised the Youth Trade Summit on Gender with the objective of building the next generation of trade and gender experts. As an outcome of the Summit, in July 2024, we launched the WTO Youth Talent Incubator Programme to support young professionals from academia and government in integrating gender into their work.
Let me add that the Chairs Programme itself expands access to trade-related education. Last year alone, over 330 WTO related courses took place through the programme. I hope you yourselves do not underestimate the significance of your work in this area.
Conclusion and looking ahead to MC14
Researchers at this event will talk about all of these inclusivity issues and expand them in new directions. It is also important for WTO Members to consider the complexities of how these factors interact.
As we look ahead to the 14th WTO Ministerial Conference to be held in 2026, Members will be putting their focus on several areas that have also been part of the WCP network’s research.
The second wave of fisheries subsidies negotiations, investment facilitation for development, and environmental sustainability are on the horizon. Members are also exploring new ways of making progress and breaking through on agricultural reform, and further engagement will continue under the multilateral programme on electronic commerce. I look forward to seeing the continued contributions of the Chairs Network in these areas.
Let me end by saying that the WTO remains steadfast in its commitment to advancing inclusive trade. Our mission is to create a trade framework that reflects the diversity and needs of all societies, promoting equity and opportunity for all. With this objective in mind, I would certainly and strongly encourage continued collaboration between the WCP and the WTO Trade and Gender Office.
Together, we can ensure that the multilateral trading system contributes to a more just and equitable global economy. And the book discussed today has its place in making this happen.
Thank you.
Headline: Verizon to speak at Deutsche Bank Conference March 11
NEW YORK – Frank Boulben, senior vice president and chief revenue officer for the Consumer Group of Verizon (NYSE, Nasdaq: VZ), is scheduled to speak at the Deutsche Bank Media, Internet & Telecom Conference on Tuesday, March 11, at 8:00 a.m. ET. His remarks will be webcast, with access instructions available on Verizon’s Investor Relations website, www.verizon.com/about/investors.
Headline: Celebrating women in gaming: Pioneers and innovators
Women have been influential figures across all areas of the gaming world—from design and development to storytelling and production. As we continue to break down barriers and champion diverse perspectives, we’re proud to amplify the voices of those who have shaped the industry’s past and are shaping its future.
In our exclusive interview with Roberta, she reflects on her pioneering journey in the gaming industry and shares her insights into her love of mysteries, the creation of Laura Bow; one of the first heroines in gaming, advise for young women looking to get into gaming, and what inspired her to return with a new adventure, Colossal Cave. Her groundbreaking work in interactive storytelling has inspired generations of creators, and her thoughts on the past, present, and future of women in gaming offer invaluable perspectives on the road ahead.
[embedded content]
As we honor the accomplishments of women in gaming, let’s also look toward the future. The work being done today by women in this industry is setting the stage for a new generation of creators who will continue to push boundaries and inspire others. Let’s ensure that women’s voices are heard, celebrated, and given the platform they deserve—today and every day.
Discover Games Shaped by Women Creators
Celebrate International Women’s Day through the power of play. During March and beyond, you can play a variety of game collections highlighting iconic games and franchises created by women developers, showcasing how their unique perspectives have shaped the gaming world we know today.
Check out a few highlights from our full Xbox Game Collection celebrating International Women’s Day:
KeyLocker – A Cyberpunk turn-based rhythm JRPG. Play as the singer and songwriter, B0B0. Fuel your moves with the electric power of music on this unforgiving planet by using real-time execution of moves in rhythm game style! Choose a unique class, battle the authorities, unlock the secrets of Saturn, play in your own band’s concerts, and hack into the network to bring an end to this corrupt system, for better or worse.
Play KeyLocker Today
Dungeons of Hinterberg– Welcome to Hinterberg, a new tourist hotspot in the idyllic Austrian Alps! You play as Luisa, a burnt-out law trainee taking a break from her fast-paced corporate life to conquer the Dungeons of Hinterberg. There are plenty of dungeons to find and adventures to be had in Hinterberg – will Luisa be sent packing on her first day, or remain to become a Master Slayer? Only one way to find out…
PlayDungeons of HinterbergToday
Avowed – Welcome to the Living Lands, a mysterious island filled with adventure and danger. Set in the fictional world of Eora that was first introduced to players in the Pillars of Eternity franchise, Avowed is a first-person fantasy action RPG from the award-winning team at Obsidian Entertainment. You are the envoy of Aedyr, a distant land, sent to investigate rumors of a spreading plague throughout the Living Lands – an island full of mysteries and secrets, danger and adventure, choices and consequences, and untamed wilderness. You discover a personal connection to the Living Lands and an ancient secret that threatens to destroy everything. Can you save this unknown frontier and your soul from the forces threatening to tear them asunder?
Play Avowed Today
Spirit Swap: Lofi Beats to Match-3 To–Samar is a young witch working the spirit-swapping night shift in the eastern outskirts of Demashq. A recent spike in spirits crossing over from another dimension breaks the chill atmosphere of their night shift, so with her trusty Familiarz by her side, she sets off into the city to find out what’s happened. With a popular band scheduled to kick off their big comeback tour in Demashq, Samar needs to work quickly before the city is overrun with stans and spirits alike!
Play Spirit Swap: Lofi Beats to Match-3 To Today
Mexico 1921: A Deep Slumber – An intriguing narrative adventure where you try to solve a hundred-year-old mystery: who planned the assassination of President Álvaro Obregón? You play as Juan Aguirre, a photojournalist who will interview and photograph subjects, collect historical data and report the news that will shape Mexican history. Join Juan in post-revolutionary Mexico City to discover why Mexico ain’t no place for the weak. Developed hand in hand with the National Newspaper Library and the Popular Arts Museum, this game will be an interactive archive of Mexican post-revolutionary history.
Play Mexico 1921: A Deep Slumber Today
Colossal Cave–Embark on a timeless journey through a sprawling cave system packed with treasures, creatures, mazes, and wits-defying puzzles. The great grandpappy of adventure games will test you and tickle your problem-solving skills as you unearth its plot and secrets. Through cunning trial-and-error you will crawl through tight squeezes, encounter impressive caverns, collect inventory, locate treasure, thwart dwarf attacks, all while keeping your eye on the score before your lamp goes out.
Play Colossal Cave Today
Spotlighting Women Gaming Pioneers
Marcella Churchill – Sr. Director of Brand at SEGA of America
Marcella Churchill is a visionary leader in brand marketing with a track record of spearheading global brand campaigns at LucasArts, EA, Zynga, Discord, and now Sega of America. At Sega, she is redefining transmedia storytelling, transforming iconic franchises into multimedia powerhouses. She has played a key role in elevating Sonic the Hedgehog to new heights, leading brand marketing endeavors supporting blockbuster films, hit TV series, major brand partnerships, and best-selling games. Beyond Sonic, Marcella is driving the resurgence of beloved franchises like Jet Set Radio, Crazy Taxi, Persona, and Like a Dragon, expanding their reach and legacy. Passionate about innovation, she is dedicated to growing Sega’s global brand, crafting unforgettable fan experiences, and pushing the boundaries of brand marketing and gaming entertainment.
Q: You’ve seen incredible growth in the Sonic brand, from successful games to record-breaking movies. What do you think has been the key to Sonic’s ability to cross storytelling mediums and what’s next on the horizon for you and your team?
A: Sonic’s evolution from a beloved video game character to a full-fledged entertainment icon is a testament to the passion and dedication of our team. We’ve focused on staying true to the heart of Sonic—his energy, attitude, and sense of adventure—while expanding his storytelling across games, film, TV, comics, and beyond. By embracing a transmedia approach, we’ve introduced Sonic to new audiences while deepening the experience for longtime fans. The success of the films, alongside hit games like Sonic Frontiers and Sonic X Shadow Generations, has reinforced the strength of the franchise, and last year’s brand marketing campaign featuring the Year of Shadow was a significant moment, culminating in the movie release of ‘Sonic the Hedgehog 3’.
Looking ahead, we have a lot in store for Sonic fans. While we can’t reveal everything yet, our team is committed to delivering exciting new, unique experiences and pushing the brand further. Whether through innovative game projects, fresh storytelling opportunities, or unexpected collaborations, we’re focused on keeping Sonic’s momentum strong and continuing to surprise and delight fans worldwide.
Q: As a woman in a leadership role in gaming, how have you seen Marketing in the gaming industry evolve over the years and where do you see it going?
A: Marketing in the gaming industry has evolved significantly, shifting from traditional print and TV ads to digital-first, community-driven strategies. Early on, marketing was heavily reliant on big-budget campaigns and retail partnerships. Still, engagement has become more personalized, pervasive, and interactive with the rise of social media, influencers, live service models, and more opportunities to collaborate with brands through collaborations and lifestyle partnerships. Players now expect direct communication, behind-the-scenes access, and content tailored to their interests. Looking ahead, I see marketing continuing to blend data-driven insights with creative storytelling, lifestyle partnerships, leveraging user-generated content, and emerging platforms to foster deeper player engagement and brand loyalty.
Q: As a leader in the gaming industry, what advice would you give to young women aspiring to build a career in marketing and gaming and how can they best prepare for the future you see ahead?
A: My advice to young women aspiring to build a career in marketing and gaming is to stay curious, build a strong network, and embrace creativity and data-driven decision-making. The industry thrives on innovation, so developing a deep understanding of player communities, emerging technologies, and digital marketing trends will be key. Seek mentors, advocate for yourself, and don’t be afraid to take up space in rooms where you may be the only woman. As the industry evolves, staying adaptable and continuously learning will be essential for long-term success.
Wonder Stormbreaker – Head of Studio Marketing at Undead Labs
As the Head of Studio Marketing at Undead Labs, Wonder Stormbreaker plays a crucial role in ensuring that the studio’s projects, particularly the State of Decay franchise, connect with audiences on a deep level. With a strong passion for storytelling and community engagement, Wonder’s work is centered around building immersive experiences for fans and amplifying Undead Labs’ voice in the gaming world. Whether through innovative marketing campaigns or leading the charge in social media outreach, Wonder is always thinking about how to bring players into the fold and create lasting relationships with the community.
Q: As Head of Studio Marketing, how do you approach creating authentic connections with fans and building a community around Undead Labs’ games?
A: One of my core values is integrity: be who you say you are and do what you say you’re going to do. That’s what players expect from us. We build strong relationships by delivering on what we’ve promised. To do that, we place a high value on players’ experiences and expectations. Trust is at the heart of strong relationships between studios and players.
Q: State of Decay has a passionate fanbase. What do you think has been the key to building that loyalty, and how do you keep the game’s community engaged over time?
A: It’s important to our studio culture that we never lose sight of the worth and power of an individual.
State of Decay’s popularity began as a grassroots movement. Personal touch is a priority for how we build community. I ask thorny questions: How do we make a larger, global audience feel connected and cared for? How do we automate what we do here to serve even more players, without depersonalization? We know we won’t always get the answers right on the first try, and frankly, I hate that. I would love to knock it out of the park the first time, every time. The important thing is that our players have evidence that we’re always improving their experience.
Q: Marketing in the gaming industry can be very dynamic and fast-paced. How do you stay ahead of trends, and what excites you most about the future of game marketing?
A: It’s important to think of games as one piece of the “entertainment-verse.” I have a theater and film background and often look to the film industry for clues about where we are headed, but really, it’s about how games fit into people’s lives when everything is vying for attention.
It’s easy to be swept into our own silos, even an Xbox silo. Right now, I’m working with the Turn 10 team on a few projects which is incredible for inspiration and new perspectives. I read industry newsletters like A16z’s speedrun and Naavik, as well as current event roundups like Mo News and Semafor. This may be surprising, but I avoid almost all social media. The firehose of micro-entertainment on social platforms can overwhelm the big picture, and the big picture is most interesting to me. That’s where vision flourishes.
Empowering Women Streamers with South of Midnight
In South of Midnight, we step into the shoes of Hazel, a strong, rough-edged protagonist navigating a world inspired by the American Deep South. Tasked with fixing what’s broken, Hazel must adapt to a hostile environment that’s barely recognizable. This month, Team Xbox continues its commitment to empowering women protagonists and celebrating women in the gaming industry in the DACH region (Germany, Austria, and Switzerland). As part of this, Xbox is partnering with the creator agency Instinct3 on a campaign to support and elevate emerging women streamers for South of Midnight. This initiative offers smaller, up-and-coming streamers the chance to apply and receive early access codes for the game. Focused on those who may not yet have the reach of more established streamers, the campaign aims to shine a spotlight on women creators by sponsoring their streams and giving them a platform to grow.
In the spirit of empowering women, streamers will support each other through Twitch’s raid mechanics, directing viewers from one stream to the next. These streams and raids will kick off with South of Midnight Early Access on April 3. Details will be shared via Xbox Wire DACH, along with opportunities to win Game Pass codes.
The campaign application opens on International Women’s Day, March 8, and runs through the month. Selected streamers will receive Game Pass and game codes, joining our paid campaign for Early Access.
Gaming with Impact
Rewards members in the United States can earn and donate points to organizations supporting women with Xbox. The organizations below will be available on the Rewards hub:
Women in Games International – Women in Games International works to cultivate resources such as advanced knowledge sharing, access to technology, and actionable mentorship programs to normalize diversity in the games industry through increased representation. (US only)
National Center for Transgender Equality– NCTE advocates to change policies and society to increase understanding and acceptance of transgender people. In the nation’s capital and throughout the country, NCTE works to replace disrespect, discrimination, and violence with empathy, opportunity, and justice. (US Only)
Xbox players 18 and older can earn Rewards points in various ways, such as playing games, completing Game Pass Quests (terms apply), and purchasing games and other eligible items at the Microsoft Store (exclusions apply). Start earning for impact today and redeem your points for great rewards. Donate your points on the Rewards hub or on the Rewards redeem page.
Wallpapers and Dynamic Backgrounds
The Xbox International Women’s Day design is available today as an Xbox wallpaper and dynamic background on console – follow these steps to apply the dynamic background:
Press the Xbox button on your controller to open the guide.
Select Profile & system > Settings > General > Personalization > My background > Dynamic backgrounds.
You can choose between Games, Xbox, or Abstract dynamic backgrounds. Choose the background art that you want with the A button.
With Daylight Savings Time approaching on March 9, we’re not just springing our clocks forward – it’s also the perfect opportunity to give our home electronics some much-needed attention.
While checking smoke detector batteries is a time-honored tradition, why not extend that care to all your essential devices?
We’ve designed Samsung’s appliances and devices to be as user-friendly — and in need of as little routine care as possible — but a little TLC now and then is a good idea to keep home appliances, personal devices, and more performing at their best and running smoothly. As part of our Things To Know series, we partnered with the Samsung Customer Care team to explore a few easy ways to give our Samsung tech a fresh new start as we reset our clocks for spring, too.
Give Your Samsung Oven a Deep-Clean (the Easy Way)
Gone are the days of harsh chemicals and endless scrubbing – Samsung’s ovens have been engineered not just with sleek design and chef-worthy performance, but with cleaning solutions that do the heavy lifting for you.
All Samsung ovens come with a self-clean function that handles the brunt of the labor — some models even come with additional Steam Cleaning and Descaling functions for more hands-free effort. While the high-heat self-clean function essentially incinerates burnt-on food (making your job one of wiping up, versus scrubbing), the Steam Clean (or, on some models, Hybrid Clean) mode is great for more routine deep cleaning that’s still relatively hands-off.
P.S. While your oven’s working hard, it’s a great time to give those oven racks a wash, too — ensuring you have an all-around fresh start for spring.
Digital Declutter for Peak Performance
Samsung’s phones and tablets come with large amounts of space available to hold videos, selfies, emails, downloads, and other digital ephemera — but who among us hasn’t lived in fear of a low-memory notification popping up someday?
Take advantage of this seasonal transition to clean up your digital closet with a clear-out of your device’s memory. Delete those apps you never use, get rid of those e-books and podcasts you’ve been finished with for months now, and send those duplicate photos to the trash. Not only will you free up storage space, but your phone will function more productively too.
Fresh Filters for Crisp, Clean Hydration
Resetting the clocks is also a great time to check in on your Samsung refrigerator’s water filter and see if it needs a refresh, too. We’ve designed our top-of-the-line filters to deliver fresh, clean water at the touch of a button (or sensor), but even they need a little upkeep sometimes.
Every six months is a great benchmark for replacing your filter, but if you’re not sure of the last time you swapped them out, keep an eye out for the built-in indicator light on the inside of your refrigerator. When it’s time for a change, simply match your model number to ensure a perfect fit, and don’t forget to hit reset so it can begin tracking usage again.
Pro tip: Only use Samsung Genuine Water Filters to avoid complications with your water supply or appliance.
Make Your Dishwasher Sparkle Like New
Even your trusty dishwasher needs occasional pampering. As we reset the clocks after a busy holiday season of entertaining friends and family, it’s a great time to make sure that your dishwasher itself is as clean as it can be — which makes it all the better to clean your dishes with.
Start with the outside: Use a soft, damp cloth to remove any stains or gunk. For the interior, harness the power of your dishwasher’s Sanitize cycle: place a cup of white vinegar in the lower rack and let the machine work its magic. Self Clean cycles are also integrated into a lot of Samsung dishwashers, which makes cleaning the inside of your dishwasher a one-touch job.
These two programs will help keep your Samsung dishwasher doing its best all year long — but to help it out in the meantime, we always suggest rinsing dishes before you load them in the machine, too.
Keep Your Washing Machine Running Like New
Like dishwashers, Samsung washing machines do a great job of cleaning — but sometimes need their own refresh. Regular maintenance prevents odors and mold from building up, and spring is the perfect time to give your washer some attention – especially before tackling heavy-duty spring cleaning tasks.
Queue up your washer’s Self-Clean, Self-Clean+, or Pure Cycle to give the interior a hygienic refresh and clean parts of the tub where moisture and detergent residue tend to accumulate. You don’t need to add any special cleaner for this, but if there’s a little mold smell going on already, some bleach might not be a bad idea. Don’t have these cycles? A standard washing machine cleaner works just as well.
It’s also a good time to clean other critical parts of the washer: Remove and wipe out the detergent drawers (and, ideally, wipe them clean between washes), and use an old toothbrush or other soft brush to clean the recess for the drawer, too.
And while it might sound scary, cleaning out the pump filter on your front-load washer is easier than it sounds — just have a receptacle handy to catch the water under the panel. Then, open the panel at the bottom of the washer, remove the hose from where it’s hanging, and twist the cap until water begins to come out of the hose. Once it’s all drained, remove the washer pump filter itself and give it a gentle cleaning.
Perfecting Your TV’s Picture
Our advanced displays deliver stunning visuals, but a dusty screen can diminish even the most sophisticated tech. Give your TV’s screen a close inspection for dust, spots and more with a simple routine.
Turn off and unplug the TV, then wipe the screen as gently as possible with a microfiber cloth. For stubborn marks, spray a little distilled water on your cloth. Remember to clean the frame too, and allow everything to dry completely before powering up again– then you’re good to start streaming again!
Looking for more tips or need additional support from the Samsung Care Team? Visit the Samsung Care YouTube Channel, check out the Samsung Members App and Samsung Communities or text us any time by messaging 1-800-SAMSUNG to start a conversation with a Samsung Care Pro.
WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) decreased 1.8 points in February to 71.6, driven largely by consumers’ increased pessimism that mortgage rates will go down in the next year. The share of consumers who say it is a good time to buy a home inched up last month to 24%, while the share who say it is a good time to sell dipped to 62%. February also saw a notable decline in consumers’ optimism toward their personal financial situation, including household income and concern they could lose their job. Year over year, the HPSI is down 1.2 points.
“In February, the HPSI saw its first year-over-year decline in nearly two years, which was mostly due to a shrinking share of consumers expressing optimism about the direction of mortgage rates,” said Mark Palim, Fannie Mae Senior Vice President and Chief Economist. “This growing pessimism makes sense, as mortgage rates had remained near the 7% threshold for a few months, including when we fielded this survey. The decline in sentiment was further impacted by consumers’ growing concerns about their own personal financial situations. While some consumers may be slowly acclimating to the higher mortgage rate environment, the vast majority continue to believe it is a ‘bad time’ to buy a home – with high home prices cited as the primary sticking point. We continue to expect home sales activity to remain relatively light over our forecast horizon due to the ongoing lack of supply and overall unaffordability.”
Home Purchase Sentiment Index – Component Highlights Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased 1.8 points in February to 71.6. The HPSI is down 1.2 points compared to the same time last year. Read the full research report for additional information.
Good/Bad Time to Buy: The percentage of respondents who say it is a good time to buy a home increased from 22% to 24%, and the percentage who say it is a bad time to buy decreased from 78% to 76%. The net share of those who say it is a good time to buy increased 2 percentage points month over month to negative 53%.
Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home decreased from 63% to 62%, and the percentage who say it’s a bad time to sell increased from 36% to 37%. The net share of those who say it is a good time to sell decreased 3 percentage points month over month to 25%.
Home Price Expectations: The percentage of respondents who say home prices will go up in the next 12 months decreased from 43% to 41%, while the percentage who say home prices will go down increased from 22% to 23%. The share who think home prices will stay the same increased from 34% to 35%. As a result, the net share of those who say home prices will go up in the next 12 months decreased 2 percentage points month over month to 18%.
Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 35% to 30%, while the percentage who expect mortgage rates to go up increased from 32% to 33%. The share who think mortgage rates will stay the same increased from 33% to 36%. As a result, the net share of those who say mortgage rates will go down over the next 12 months decreased 6 percentage points month over month to negative 3%.
Job Loss Concern: The percentage of employed respondents who say they are not concerned about losing their job in the next 12 months decreased from 78% to 77%, while the percentage who say they are concerned increased from 22% to 23%. As a result, the net share of those who say they are not concerned about losing their job decreased 1 percentage point month over month to 55%.
Household Income: The percentage of respondents who say their household income is significantly higher than it was 12 months ago increased from 17% to 18%, while the percentage who say their household income is significantly lower increased from 9% to 11%. The percentage who say their household income is about the same decreased from 73% to 70%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago decreased 1 percentage point month over month to 7%.
About Fannie Mae’s Home Purchase Sentiment Index The Home Purchase Sentiment Index® (HPSI) distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision-making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher or lower than they were a year earlier.
About Fannie Mae’s National Housing Survey The National Housing Survey (NHS) is a monthly attitudinal survey, launched in 2010, which polls a representative sample of adult household financial decision makers in the United States, to assess their attitudes toward owning and renting a home, purchase and rental prices, household finances, and overall confidence in the economy. Each respondent is asked more than 100 questions, making the NHS one of the most detailed longitudinal surveys of its kind to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared with the same survey conducted monthly beginning June 2010). For more information, please see the Technical Notes.
Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to support the housing market. The February 2025 National Housing Survey was conducted between February 1, 2025, and February 18, 2025. Most of the data collection occurred during the first two weeks of this period. The latest NHS was fielded through AmeriSpeak®, NORC at the University of Chicago’s probability-based panel, in coordination with Fannie Mae and PSB Insights. Calculations are made using unrounded and weighted respondent-level data to help ensure precision in NHS results from wave to wave. As a result, minor differences in calculated data (summarized results, net calculations, etc.) of up to 1 percentage point may occur due to rounding.
Detailed HPSI & NHS Findings For detailed findings from the Home Purchase Sentiment Index and National Housing Survey, as well as a brief HPSI overview and detailed white paper, technical notes on the NHS methodology, and questions asked of respondents associated with each monthly indicator, please visit the Surveys page on fanniemae.com. Also available on the site are in-depth special topic studies, which provide a detailed assessment of combined data results from three monthly studies of NHS results.
To receive e-mail updates with other housing market research from Fannie Mae’s Economic and Strategic Research Group, please click here.
About the ESR Group Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets.
LONDON, UK – March 07, 2025 – Samsung Electronics UK has announced the promotion of Annika Bizon to Mobile Experience (MX) VP of Product and Marketing, UK&I.
In this role, Annika will build on successes launching the Galaxy S25 series and growing the Galaxy AI userbase. Her responsibilities have included leading its Marketing & Omnichannel strategy, as well as the MX division in Ireland.
Her passion for putting the customer first has driven both consumer engagement and commercial success, strengthening Samsung UK & Ireland’s market share and brand perceptions across its Galaxy ecosystem.
Annika brings more than 20 years of experience to this new position. Prior to Samsung, she held senior roles at 20th Century Fox and Three UK. Throughout her career, she has focussed on successfully transitioning brands to a digital-first approach, driving commercial success.
In her new role, Annika will spearhead Galaxy AI adoption, as well as innovation and development, alongside growing Samsung’s ecosystem proposition.
Annika said: “I am looking forward to taking on this new role and remain committed to providing our customers with the best experience, no matter who they are or what Samsung products they use. In partnership with my team, I will be focused on putting the consumer first, ensuring every touchpoint with our products and services is seamless and makes them proud to own Samsung.
Corporate Vice President – Mobile Division, Samsung UK & Ireland, Richard Chang, added: “As Marketing & Omnichannel Director, Annika has been dedicated to best-in-class customer experience and the leadership of our Irish business. Recently, she has also led the product team, developing category management as a key focus area. I look forward to working closely with her, delivering growth and mobile leadership.”
LONDON, UK – 07 March, 2025 – Samsung Electronics UK, in celebration of National Careers Week, welcomed secondary schools nationwide to join a free live virtual classroom event to spark curiosity about diverse future-focused careers in tech.
Streamed live from Samsung KX, the careers lesson showcased cutting-edge technology and gave secondary school students the chance to hear from Samsung employees about their career journeys. Hosted by Samsung’s young emerging talent, schools were taken on a whistle-stop tour of Samsung KX, and were able to interact through live polls and a Q&A session with Samsung experts.
Jessie Soohyun Park, Head of Corporate Responsibility at Samsung UK, said: “It was great to welcome hundreds of young people to our live virtual classroom event. Schools from across the UK heard first-hand from our employees about their career journeys in tech, and we hope they left the session feeling inspired. Samsung Solve for Tomorrow Next Gen is all about inspiring the next generation of innovators, and the 2025 programme is only just beginning. We welcome secondary schools across the UK to sign up for the free resources and join the challenge – our theme for this year is Living Well: Tech for a Happier, Healthier World, and we can’t wait to see the tech for good ideas from young people.”
Samsung Solve for Tomorrow Next Gen programme is designed for 11-15 year olds to inspire the next generation of innovators. Reaching over a third of secondary schools across the UK and Ireland, the programme offers interactive video lessons, design thinking, online safety and careers resources for teachers to use with their students, and a fun challenge where students and their schools can win fantastic tech prizes. Schools can register for the free programme here.
For more information on Samsung KX visit: Discover New Samsung King’s Cross Space | Samsung UK
Secretary-General of ASEAN, Dr. Kao Kim Hourn, today held a Roundtable Discussion with a group of Cambodia-based media from the Club of Cambodian Journalists, on the sidelines of the Cambodia-ASEAN Business Summit 2025, in Phnom Penh. The discussion revolved around the ASEAN Community Vision 2045 from the perspective of the Secretary-General of ASEAN. During the discussion, SG Dr. Kao underscored 2025 as a significant year for ASEAN, as ASEAN leaders will adopt the ASEAN Community Vision 2045 and its four Strategic Plans for each ASEAN Community Pillar and ASEAN Connectivity, scheduled for adoption during the 46th ASEAN Summit in Malaysia this year. He also highlighted the need to effectively address cross-cutting issues, enhance institutional capacity and effectiveness, as well as ensure adequate resources for ASEAN.
The post Secretary-General of ASEAN engages Cambodia-based media in Phnom Penh appeared first on ASEAN Main Portal.
The Reserve Bank of India, vide directive CDG.DOS.RSG.No.S1645/16-03-046/2022-2023 dated March 09, 2023, had placed Imperial Urban Co-operative Bank Ltd, Jalandhar – under Directions from the close of business on March 10, 2023, for a period of six months up to September 10, 2023, the validity of which was last extended up to close of business on March 10, 2025 vide directive DOR.MON/D-79/12.28.319/2024-25 dated December 05, 2024.
2. The Reserve Bank of India, in exercise of the powers vested in it under subsection (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank further for a period of three months from close of business on March 10, 2025 to close of business on June 10, 2025, as per the directive DOR.MON/D-103/12.28.319/2024-25 dated March 05, 2025, subject to review.
3. The extension of Directions should not per se be construed as cancellation of banking license by the Reserve Bank of India. The bank will continue to undertake banking business with restrictions till its financial position improves.
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Jawahar Sahakari Bank Ltd., Hupri with Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd. The Scheme has been sanctioned in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from March 10, 2025 (Monday). All the branches of Jawahar Sahakari Bank Ltd., Hupri, will function as branches of Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd., with effect from March 10, 2025.
With the recent 25% tariffs imposed on goods imported from Mexico and Canada, the cost of vehicle repairs is expected to rise in the US, placing additional pressure on insurers to increase car insurance premiums, which are already among the highest globally, according to GlobalData, a leading data and analytics company.
GlobalData’s 2024 Emerging Trends Insurance Consumer Survey reveals that 53.5% of US consumers pay over $1,000 annually for car insurance. In comparison, only 21.0% of UK consumers report paying more than GBP750 ($966), while just 16.9% of Chinese consumers state their premiums exceed CNY7,000 ($963). Among all 11 countries included in the survey, none have a higher proportion of consumers paying $1,000 or more for car insurance than the US.
Charlie Hutcherson, Insurance Analyst at GlobalData, comments: “The recent trade measures introduced by the US government will have significant repercussions across the automotive and insurance industries. The tariffs on imported auto parts from Mexico and Canada will drive up costs across the supply chain, making vehicle repairs more expensive and contributing to rising insurance premiums.”
The rising costs stem from the integrated supply chains that auto companies have established with manufacturers in Mexico and Canada, which play a critical role in the US automotive industry. According to the American Iron and Steel Institute (AISI), Mexico and Canada accounted for approximately 35% of US steel imports last year, while Canada supplied nearly half of the country’s aluminum imports. Additionally, more than 30% of total auto parts used in the US were imported from these two countries, reflecting the industry’s reliance on cross-border trade to keep costs down.
Hutcherson continues: “As US consumers are already paying some of the highest car insurance premiums globally, the tariffs are likely to exacerbate the situation. Rising repair costs will force insurers to adjust pricing models, and many consumers may see their premiums increase further. To navigate these challenges, insurers must focus on improving claims cost management and exploring alternative solutions such as telematics-based policies and strategic partnerships with repair networks.”
Hutcherson concludes: “The knock-on effect of higher tariffs will be felt across the entire automotive ecosystem. Consumers, insurers, and manufacturers will all have to adapt as costs rise. For insurers, retaining customers in a competitive market will require innovative pricing strategies and cost-effective solutions to help offset the financial strain caused by these policy changes.”
*GlobalData’s Emerging Trends Insurance Consumer Survey featured a panel of consumers aged 18+, with 5,520 respondents spread across 11 countries in different regions to identify global trends. There was a minimum of 500 respondents per country. It is GlobalData’s first-ever dedicated multi-market insurance consumer survey.
The Reserve Bank of India (RBI) has, by an order dated March 04, 2025, imposed a monetary penalty of ₹10.00 lakh (Rupees Ten Lakh only) on Bridge Fintech Solutions Private Limited (the company), also referred to as “Finzy”, for non-compliance with certain provisions of the ‘Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934.
A scrutiny of the company was conducted by RBI in September 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.
After considering the company’s reply to the notice, additional submissions made by it and oral submissions made during the personal hearing , RBI found, inter alia, that the following charges against the company were sustained, warranting imposition of monetary penalty.
The company:
disbursed loans to individual borrowers without the specific approval of individual lenders;
took partial credit risk, which was not provided under the ‘Scope of Activities’ for NBFC-P2P companies;
did not, in certain instances, (a) ensure that its agreements with service providers included clauses to recognise the right of RBI to cause an inspection to be made of the service providers, and (b) undertake an annual review of the service providers; and
did not conduct periodic review of the compliance of the Fair Practices Code and functioning of the Grievances Redressal Mechanism.
This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.
The Reserve Bank of India (RBI) has, by an order dated February 25, 2025, imposed a monetary penalty of ₹16.60 lakh (Rupees Sixteen Lakh Sixty Thousand only) on Visionary Financepeer Private Limited (the company) for non-compliance with certain provisions of the ‘Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934.
A scrutiny of the company was conducted by RBI in September 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.
After considering the company’s reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the company were sustained, warranting imposition of monetary penalty.
The company:
disbursed loans to individual borrowers without the specific approval of individual lenders, and it did not ensure that each individual lender and borrower had signed a loan agreement;
did not disclose the required details of the borrowers to the lenders;
did not have a Board approved policy for pricing of services provided by it;
did not, in certain instances, (a) ensure that its agreements with service providers included clauses to recognise the right of RBI to cause an inspection to be made of the service providers, and (b) undertake an annual review of the service providers; and
took partial credit risk, which was not provided under the ‘Scope of Activities’ for NBFC-P2P companies.
This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.
The Reserve Bank of India (RBI) has, by an order dated February 11, 2025, imposed a monetary penalty of ₹40 lakh (Rupees Forty lakh only) on Fairassets Technologies India Private Limited (the company) (also referred to as ‘Faircent’) for non-compliance with certain provisions of the ‘Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934.
A scrutiny of the company was conducted by RBI in September 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.
After considering the company’s reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the company were sustained, warranting imposition of monetary penalty.
The company:
disbursed loans without the specific approval of individual lenders;
did not undertake and disclose credit assessment and risk profile of the borrowers to the prospective lenders;
took partial credit risk by foregoing the management fee partially / fully, which was not provided under the ‘Scope of Activities’ for NBFC-P2P companies; and
did not comply with RBI’s directions on ‘Fund Transfer Mechanism’, when it allowed repayments to lenders from fresh funds provided by new / existing lenders or through repayments pooled from the borrowers, rather than from a specific borrower to a specific lender.
This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.
The following news release has been issued by the School of International Financial Services (SIFS) to celebrate the achievement of an Isle of Man Financial Services Authority employee in securing a record exam score.
Isle of Man Financial Services Authority Investigator propels the Isle of Man to the top of global regulatory qualification rankings with record-breaking exam score.
Rachael Kennedy, an investigator in the Isle of Man Financial Services Authority’s (IOMFSA) Enforcement Division, has achieved the joint-highest mark ever recorded, scoring 97 out of 100, in the International Certificate in Financial Services Regulation (ICFSR). Her outstanding performance matches that of Kate Rogers from the Jersey Financial Services Commission (JFSC), who previously set the record.
The ICFSR, awarded by The Chartered Governance Institute (CGI) and offered by the School of International Financial Services (SIFS), is a globally recognised qualification that provides regulatory professionals with a comprehensive understanding of financial services regulation. The programme blends theoretical insights with practical case studies, equipping candidates with the necessary skills to navigate complex regulatory environments effectively.
Bettina Roth, Chief Executive of the Isle of Man Financial Services Authority, commented: “We are committed to providing professional development opportunities for all our staff. The courses run by the School of International Financial Services ensure our people gain the appropriate qualifications, knowledge, and skills to fulfil their regulatory duties in support of the Island’s financial services sector. We were pleased to learn of Rachael’s exceptional performance in the ICFSR and look forward to supporting her continued development.”
Reflecting on her achievement, Rachael Kennedy said: “I really enjoyed the International Certificate in Financial Services Regulation, which has provided me with a solid understanding of the principles of regulation. The course offers a good mix of practical case work and theory to help embed knowledge that I have since been able to apply in my role as a regulator. I am grateful for the support provided by the Authority through its professional development programme. It has been pivotal in helping me to achieve this success.”
Rachael’s achievement underscores the value of professional development in the regulatory sector. The ICFSR continues to equip professionals with essential knowledge and practical skills to uphold regulatory standards in financial services.