Jefferies Provides Letter from Its CEO and President Regarding Point Bonita Capital and First Brands Group




Jefferies Provides Letter from Its CEO and President Regarding Point Bonita Capital and First Brands Group

NEW YORK–(BUSINESS WIRE)–Jefferies Financial Group, Inc. (NYSE: JEF) (“Jefferies”) announced today that is has posted this letter from our CEO, Rich Handler, and our President, Brian Friedman:

Dear Clients, Stakeholders and Friends of Jefferies,

Since the circumstances surrounding First Brands have resulted in articles and snippets that mention Jefferies (in many cases, with inaccurate or conflated allegations or assertions), we believe it’s important to share with our clients, fellow shareholders, bondholders, employee-partners, and friends of Jefferies both the actual facts and our perspective.

The possible impact on Jefferies of the First Brands bankruptcy should be considered and measured against these overriding facts:

• A sound financial condition – Jefferies had total equity on August 31, 2025 of $10.5 billion and tangible equity of $8.5 billion,
• Ample liquidity – Jefferies had cash of $11.5 billion on August 31, 2025,
• True momentum across our business, as demonstrated most clearly by Jefferies’ third quarter results announced two weeks ago – these results annualized would represent net revenues of $8.2 billion, earnings before income taxes of $1.3 billion and net earnings of $1.0 billion, and
• A continuing and strengthened partnership with SMBC – as we announced three weeks ago, SMBC and we significantly expanded our Global Strategic Alliance, which included $2.5 billion of new and incremental credit facilities and SMBC intending to increase its ownership interest in Jefferies from 14.5% to up to 20%.

This Thursday morning at our Annual Investor Meeting, we will amplify and detail the strong momentum of our unique Wall Street firm, which remains keenly focused on executing and further realizing its potential. In addition to a favorable operating environment for our business, we also see exceptional opportunities for continuing growth.

The issues surrounding First Brands are the result of decisions and actions at First Brands, including possible fraudulent or otherwise improper activity that is under investigation by the First Brands’ Chief Restructuring Officer and reportedly under investigation by the United States Department of Justice. Those actions and decisions drove First Brands – formerly a leader in its sector that had financial statements audited by a top accounting firm, major law firms representing it and a track record that attracted the support of major banks, lenders and sophisticated investors – to need bankruptcy protection.

The First Brands situation could cause Jefferies financial loss over time in respect of our own indirect investments (Jefferies’ investments effectively comprise $43 million, or 5.9%, of Point Bonita’s accounts receivables purchased from First Brands and a small ($2 million) interest in First Brands’ bank loans through Jefferies Finance’s Apex platform), legal costs or otherwise. Relative to the scale of Jefferies, we are confident that any losses or expenses from these investments or otherwise in respect of First Brands can readily be absorbed and do not threaten our financial condition or business momentum. We believe there has been an impact on our equity market value and credit perception that is meaningfully overdone, and we expect this to correct soon as the facts and range of outcomes are better understood.

Below, we discuss in Q&A format a series of subjects that we believe, together, will allow you to dimension the range of any risk Jefferies may face from First Brands at its appropriately manageable and absorbable level:

Did Jefferies earn undisclosed fees on financing it provided to First Brands Group through a “side letter” between Jefferies and First Brands?

No. First Brands entered into a written agreement with Point Bonita that was solely for the benefit of the investors in Point Bonita, and that, furthermore, was disclosed to all first and second lien lenders to First Brands. There were no undisclosed fees earned by Jefferies.

The fee letter provides for the payment of certain fees to the fund managed by Point Bonita in respect of transactions between First Brands and the fund. Jefferies did not earn those fees (other than to the extent Jefferies is a 5.9% investor in the Point Bonita fund), but rather the fund’s investors received those fees. Second, those fees were paid in connection with the fund’s purchase of accounts receivable from First Brands. Being sensitive to the fact that First Brands had agreed with its term-loan holders to cap the interest rates that could be paid to potential lenders against receivables, this question was analyzed by First Brands’ top-tier, internationally recognized external counsel, which issued a formal legal opinion stating that the fees contemplated as part of the receivable-purchase agreement did not contravene the credit agreement.

Moreover, the Master Receivables Purchase Agreement (MRPA) between First Brands and Point Bonita, which included and expressly referenced the fee letter, was listed for years on the schedules to the Credit Agreement between all first lien and second lien lenders and First Brands.

How are you managing the redemptions from Point Bonita?

Last month, immediately following the discovery of the issues at First Brands, Leucadia Asset Management communicated directly with Point Bonita fund investors, anticipating and agreeing with our co-investors that it made sense for them to submit redemption requests in order to maximize their flexibility as Point Bonita worked through the circumstances surrounding the receivables it purchased from First Brands. Redemption requests become effective December 31, 2025 (and can be rescinded until that date), and lead to four quarterly, pro rata redemption payments, with the last payment being made in October 2026. That schedule means Point Bonita will have over a year, if necessary, to realize the full value of the rest of its portfolio; to pay off all its debt, which is far more than fully covered by assets apart from the First Brands-related receivables; to return the value of the rest of the fund to our co-investors; and to drive and maximize the recovery from the account receivable purchased from First Brands.

What was Jefferies’ investment banking relationship with First Brands?

First Brands engaged with a range of banks and Wall Street firms over the last ten years. During that period, Jefferies only once served as financial advisor to First Brands in respect of an acquisition. In each of the other four First Brands acquisitions in which we were involved, we were on the other side of the table, negotiating against First Brands. In addition, except for one $300 million loan in 2023 that we underwrote, each financing of First Brands arranged by Jefferies in the last ten years was on a best-efforts – not underwritten – basis. We are aware of nine other banks being involved in acquisitions or loan arrangements for First Brands.

Was anyone at Jefferies ever aware of any fraudulent activity at First Brands?

Nobody at Jefferies was aware of fraudulent activity at First Brands. We learned of the fraud allegations when the rest of the public learned, and then only after First Brands ceased remitting to Point Bonita cash collected in respect of the accounts receivable owned by the fund.

Jefferies began a process this summer to refinance First Brands’ existing debt in light of upcoming maturities. Why didn’t the refinancing proceed?

The refinancing did not proceed because, as part of the diligence we conducted and that was conducted by potential refinancing lenders, a quality-of-earnings report was requested of and promised by First Brands, but it was never delivered.

How much do fees from Point Bonita contribute to Jefferies’ results?

Management and incentive fees from Point Bonita are immaterial to Jefferies, with total fees in the last twelve months ended August 31, 2025, equaling only 0.8% of Jefferies’ net revenues for the same period.

What can you tell us about the $48 million of First Brands term loans held by the CLOs managed by Jefferies Finance LLC?

Jefferies Finance’s exposure is indirect and minimal. As a reminder, Jefferies Finance is a joint venture owned 50/50 by MassMutual and Jefferies that we have built and operated together since 2004. Through its asset management subsidiary, Apex Credit Partners, Jefferies Finance manages $4.2 billion of CLOs. Those CLOs own $48 million principal amount of First Brands’ term loans, which represent approximately 1% of their assets, and the current market value is about $17 million. This excludes any economic benefit to be realized by the reinvesting Apex CLOs that participated in $8.8 million of the DIP financing. Jefferies’ indirect economic exposure to First Brands through those CLOs equals approximately $2 million. Jefferies Finance is otherwise entirely unaffected by this, is performing well and is financially strong.

In closing, let us first thank you for reading this note. We take this matter extremely seriously and will do everything in our power to recover the money and assets that are rightfully owned by our co-investors in Point Bonita.

We hope you come away with a better understanding of the facts and, in particular, the fact that, no matter what the ultimate outcome is, this episode, while extremely unfortunate and disappointing, is manageable and any losses will be readily absorbable.

And even more, we hope that our announcement with SMBC and our third quarter results, as well as this note, give you a feel for our strongly held belief that Jefferies is experiencing significant momentum and how positive our prospects are at this juncture.

We have a tremendous firm; remarkable and loyal clients; 6,000 of the best teammates in the entire industry who will continue to propel Jefferies to be even bigger and better; the most respected strategic partners; an entrenched and important position in the global financial-services industry; and a burning desire to build and be the best global investment banking firm for the benefit of all our clients and stakeholders.

We look forward to speaking with many of you on Thursday morning at our Annual Investor Meeting.

Rich Handler and Brian Friedman

About Jefferies Financial Group Inc.

Jefferies is a leading, global, full-service investment banking and capital markets firm. With more than 40 offices around the world, we offer insights and expertise to investors, companies and governments.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements about our future and statements that are not historical facts. These forward‐looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “may,” “intend,” “outlook,” “will,” “estimate,” “forecast,” “project,” “should,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which will change over time. Forward-looking statements may contain beliefs, goals, intentions and expectations regarding revenues, earnings, operations, arrangements and other results, and may include statements of future performance, plans, and objectives. Forward‐looking statements speak only as of the date they are made; we do not assume any duty, and do not undertake, to update any forward‐looking statements. Furthermore, because forward‐looking statements represent only our belief regarding future events, many of which by their nature are inherently uncertain, the actual results or outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements. Information regarding important factors, including Risk Factors that could cause actual results or outcomes to differ, perhaps materially, from those in our forward-looking statements is contained in reports we file with the SEC. You should read and interpret any forward-looking statement together with reports we file with the SEC. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s).

Contacts

For inquiries, please contact:

Jonathan Freedman

mediacontact@jefferies.com

Jefferies Provides Letter from Its CEO and President Regarding Point Bonita Capital and First Brands Group




Jefferies Provides Letter from Its CEO and President Regarding Point Bonita Capital and First Brands Group

NEW YORK–(BUSINESS WIRE)–Jefferies Financial Group, Inc. (NYSE: JEF) (“Jefferies”) announced today that is has posted this letter from our CEO, Rich Handler, and our President, Brian Friedman:

Dear Clients, Stakeholders and Friends of Jefferies,

Since the circumstances surrounding First Brands have resulted in articles and snippets that mention Jefferies (in many cases, with inaccurate or conflated allegations or assertions), we believe it’s important to share with our clients, fellow shareholders, bondholders, employee-partners, and friends of Jefferies both the actual facts and our perspective.

The possible impact on Jefferies of the First Brands bankruptcy should be considered and measured against these overriding facts:

• A sound financial condition – Jefferies had total equity on August 31, 2025 of $10.5 billion and tangible equity of $8.5 billion,
• Ample liquidity – Jefferies had cash of $11.5 billion on August 31, 2025,
• True momentum across our business, as demonstrated most clearly by Jefferies’ third quarter results announced two weeks ago – these results annualized would represent net revenues of $8.2 billion, earnings before income taxes of $1.3 billion and net earnings of $1.0 billion, and
• A continuing and strengthened partnership with SMBC – as we announced three weeks ago, SMBC and we significantly expanded our Global Strategic Alliance, which included $2.5 billion of new and incremental credit facilities and SMBC intending to increase its ownership interest in Jefferies from 14.5% to up to 20%.

This Thursday morning at our Annual Investor Meeting, we will amplify and detail the strong momentum of our unique Wall Street firm, which remains keenly focused on executing and further realizing its potential. In addition to a favorable operating environment for our business, we also see exceptional opportunities for continuing growth.

The issues surrounding First Brands are the result of decisions and actions at First Brands, including possible fraudulent or otherwise improper activity that is under investigation by the First Brands’ Chief Restructuring Officer and reportedly under investigation by the United States Department of Justice. Those actions and decisions drove First Brands – formerly a leader in its sector that had financial statements audited by a top accounting firm, major law firms representing it and a track record that attracted the support of major banks, lenders and sophisticated investors – to need bankruptcy protection.

The First Brands situation could cause Jefferies financial loss over time in respect of our own indirect investments (Jefferies’ investments effectively comprise $43 million, or 5.9%, of Point Bonita’s accounts receivables purchased from First Brands and a small ($2 million) interest in First Brands’ bank loans through Jefferies Finance’s Apex platform), legal costs or otherwise. Relative to the scale of Jefferies, we are confident that any losses or expenses from these investments or otherwise in respect of First Brands can readily be absorbed and do not threaten our financial condition or business momentum. We believe there has been an impact on our equity market value and credit perception that is meaningfully overdone, and we expect this to correct soon as the facts and range of outcomes are better understood.

Below, we discuss in Q&A format a series of subjects that we believe, together, will allow you to dimension the range of any risk Jefferies may face from First Brands at its appropriately manageable and absorbable level:

Did Jefferies earn undisclosed fees on financing it provided to First Brands Group through a “side letter” between Jefferies and First Brands?

No. First Brands entered into a written agreement with Point Bonita that was solely for the benefit of the investors in Point Bonita, and that, furthermore, was disclosed to all first and second lien lenders to First Brands. There were no undisclosed fees earned by Jefferies.

The fee letter provides for the payment of certain fees to the fund managed by Point Bonita in respect of transactions between First Brands and the fund. Jefferies did not earn those fees (other than to the extent Jefferies is a 5.9% investor in the Point Bonita fund), but rather the fund’s investors received those fees. Second, those fees were paid in connection with the fund’s purchase of accounts receivable from First Brands. Being sensitive to the fact that First Brands had agreed with its term-loan holders to cap the interest rates that could be paid to potential lenders against receivables, this question was analyzed by First Brands’ top-tier, internationally recognized external counsel, which issued a formal legal opinion stating that the fees contemplated as part of the receivable-purchase agreement did not contravene the credit agreement.

Moreover, the Master Receivables Purchase Agreement (MRPA) between First Brands and Point Bonita, which included and expressly referenced the fee letter, was listed for years on the schedules to the Credit Agreement between all first lien and second lien lenders and First Brands.

How are you managing the redemptions from Point Bonita?

Last month, immediately following the discovery of the issues at First Brands, Leucadia Asset Management communicated directly with Point Bonita fund investors, anticipating and agreeing with our co-investors that it made sense for them to submit redemption requests in order to maximize their flexibility as Point Bonita worked through the circumstances surrounding the receivables it purchased from First Brands. Redemption requests become effective December 31, 2025 (and can be rescinded until that date), and lead to four quarterly, pro rata redemption payments, with the last payment being made in October 2026. That schedule means Point Bonita will have over a year, if necessary, to realize the full value of the rest of its portfolio; to pay off all its debt, which is far more than fully covered by assets apart from the First Brands-related receivables; to return the value of the rest of the fund to our co-investors; and to drive and maximize the recovery from the account receivable purchased from First Brands.

What was Jefferies’ investment banking relationship with First Brands?

First Brands engaged with a range of banks and Wall Street firms over the last ten years. During that period, Jefferies only once served as financial advisor to First Brands in respect of an acquisition. In each of the other four First Brands acquisitions in which we were involved, we were on the other side of the table, negotiating against First Brands. In addition, except for one $300 million loan in 2023 that we underwrote, each financing of First Brands arranged by Jefferies in the last ten years was on a best-efforts – not underwritten – basis. We are aware of nine other banks being involved in acquisitions or loan arrangements for First Brands.

Was anyone at Jefferies ever aware of any fraudulent activity at First Brands?

Nobody at Jefferies was aware of fraudulent activity at First Brands. We learned of the fraud allegations when the rest of the public learned, and then only after First Brands ceased remitting to Point Bonita cash collected in respect of the accounts receivable owned by the fund.

Jefferies began a process this summer to refinance First Brands’ existing debt in light of upcoming maturities. Why didn’t the refinancing proceed?

The refinancing did not proceed because, as part of the diligence we conducted and that was conducted by potential refinancing lenders, a quality-of-earnings report was requested of and promised by First Brands, but it was never delivered.

How much do fees from Point Bonita contribute to Jefferies’ results?

Management and incentive fees from Point Bonita are immaterial to Jefferies, with total fees in the last twelve months ended August 31, 2025, equaling only 0.8% of Jefferies’ net revenues for the same period.

What can you tell us about the $48 million of First Brands term loans held by the CLOs managed by Jefferies Finance LLC?

Jefferies Finance’s exposure is indirect and minimal. As a reminder, Jefferies Finance is a joint venture owned 50/50 by MassMutual and Jefferies that we have built and operated together since 2004. Through its asset management subsidiary, Apex Credit Partners, Jefferies Finance manages $4.2 billion of CLOs. Those CLOs own $48 million principal amount of First Brands’ term loans, which represent approximately 1% of their assets, and the current market value is about $17 million. This excludes any economic benefit to be realized by the reinvesting Apex CLOs that participated in $8.8 million of the DIP financing. Jefferies’ indirect economic exposure to First Brands through those CLOs equals approximately $2 million. Jefferies Finance is otherwise entirely unaffected by this, is performing well and is financially strong.

In closing, let us first thank you for reading this note. We take this matter extremely seriously and will do everything in our power to recover the money and assets that are rightfully owned by our co-investors in Point Bonita.

We hope you come away with a better understanding of the facts and, in particular, the fact that, no matter what the ultimate outcome is, this episode, while extremely unfortunate and disappointing, is manageable and any losses will be readily absorbable.

And even more, we hope that our announcement with SMBC and our third quarter results, as well as this note, give you a feel for our strongly held belief that Jefferies is experiencing significant momentum and how positive our prospects are at this juncture.

We have a tremendous firm; remarkable and loyal clients; 6,000 of the best teammates in the entire industry who will continue to propel Jefferies to be even bigger and better; the most respected strategic partners; an entrenched and important position in the global financial-services industry; and a burning desire to build and be the best global investment banking firm for the benefit of all our clients and stakeholders.

We look forward to speaking with many of you on Thursday morning at our Annual Investor Meeting.

Rich Handler and Brian Friedman

About Jefferies Financial Group Inc.

Jefferies is a leading, global, full-service investment banking and capital markets firm. With more than 40 offices around the world, we offer insights and expertise to investors, companies and governments.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements about our future and statements that are not historical facts. These forward‐looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “may,” “intend,” “outlook,” “will,” “estimate,” “forecast,” “project,” “should,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which will change over time. Forward-looking statements may contain beliefs, goals, intentions and expectations regarding revenues, earnings, operations, arrangements and other results, and may include statements of future performance, plans, and objectives. Forward‐looking statements speak only as of the date they are made; we do not assume any duty, and do not undertake, to update any forward‐looking statements. Furthermore, because forward‐looking statements represent only our belief regarding future events, many of which by their nature are inherently uncertain, the actual results or outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements. Information regarding important factors, including Risk Factors that could cause actual results or outcomes to differ, perhaps materially, from those in our forward-looking statements is contained in reports we file with the SEC. You should read and interpret any forward-looking statement together with reports we file with the SEC. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s).

Contacts

For inquiries, please contact:

Jonathan Freedman

mediacontact@jefferies.com

Day Two of the 11th World FZO Congress Highlights the Role of Digitization and Sustainability in Shaping the Future of Free Zones




Day Two of the 11th World FZO Congress Highlights the Role of Digitization and Sustainability in Shaping the Future of Free Zones

HAINAN, China–(BUSINESS WIRE)–The World Free Zones Organization’s 11^th annual World Congress continued its agenda today with a focus on the role of digitization and sustainability in the future of free zones and the mechanisms for enhancing their position as strategic trade gateways.

The day’s sessions featured a series of sessions addressing critical themes such as the digitization of trade corridors, the impact of the OECD Global Minimum Tax, and the role of free zones as regional trade gateways.

Sustainability took centre stage with sessions focusing on the transition to net-zero through renewable energy, circular economy models, and green financing frameworks. Speakers underscored that decarbonization is not only a climate imperative but also a competitive advantage for the next generation of free zones.

The Congress also witnessed the inauguration of the Global Free Zones Research Institute, a pioneering international think tank dedicated to advancing research, policy dialogue, and capacity-building for free zones worldwide.

The Institute’s activities will include conducting research on critical issues facing free zones, providing policy recommendations, organizing expert panels and international exchanges, publishing industry reports, and offering specialised training and consulting services to governments and free zone authorities.

The second day of the Congress witnessed the signing of a Memorandum of Understanding (MoU) between six free zones and five economic and technology zones in Hainan Province. The agreement aims to enhance cooperation in cross-border data flows and strengthen the position of the signatories as key hubs in the global digital economy.

The signatories on the free zone side included the Dubai Integrated Economic Zones Authority (DIEZ) from the United Arab Emirates, PIROT Free Zone from Serbia, Tatu City Free Zone from Kenya, Luanda Special Economic Zone from Angola, Santa Fiesta Free Zone from Argentina, and the General Authority for Investment and Free Zones (GAFI) from Egypt.

From Hainan Province, the signatories included Haikou Jiangdong New Area, Haikou Fosing Industrial Internet Park, Hainan Resort Software Community, Sanya Yazhou Bay Science and Technology City, and Overseas Returnees Town Lingshui.

The MoU establishes a framework for cooperation on cross-border data flows through the development of joint mechanisms that ensure data security and resilience while facilitating the smooth and secure transfer of information between the signatories.

*Source: AETOSWire

Contacts

Mazen Dirany

World-FZO Media

meldirany@diez.ae

Day Two of the 11th World FZO Congress Highlights the Role of Digitization and Sustainability in Shaping the Future of Free Zones




Day Two of the 11th World FZO Congress Highlights the Role of Digitization and Sustainability in Shaping the Future of Free Zones

HAINAN, China–(BUSINESS WIRE)–The World Free Zones Organization’s 11^th annual World Congress continued its agenda today with a focus on the role of digitization and sustainability in the future of free zones and the mechanisms for enhancing their position as strategic trade gateways.

The day’s sessions featured a series of sessions addressing critical themes such as the digitization of trade corridors, the impact of the OECD Global Minimum Tax, and the role of free zones as regional trade gateways.

Sustainability took centre stage with sessions focusing on the transition to net-zero through renewable energy, circular economy models, and green financing frameworks. Speakers underscored that decarbonization is not only a climate imperative but also a competitive advantage for the next generation of free zones.

The Congress also witnessed the inauguration of the Global Free Zones Research Institute, a pioneering international think tank dedicated to advancing research, policy dialogue, and capacity-building for free zones worldwide.

The Institute’s activities will include conducting research on critical issues facing free zones, providing policy recommendations, organizing expert panels and international exchanges, publishing industry reports, and offering specialised training and consulting services to governments and free zone authorities.

The second day of the Congress witnessed the signing of a Memorandum of Understanding (MoU) between six free zones and five economic and technology zones in Hainan Province. The agreement aims to enhance cooperation in cross-border data flows and strengthen the position of the signatories as key hubs in the global digital economy.

The signatories on the free zone side included the Dubai Integrated Economic Zones Authority (DIEZ) from the United Arab Emirates, PIROT Free Zone from Serbia, Tatu City Free Zone from Kenya, Luanda Special Economic Zone from Angola, Santa Fiesta Free Zone from Argentina, and the General Authority for Investment and Free Zones (GAFI) from Egypt.

From Hainan Province, the signatories included Haikou Jiangdong New Area, Haikou Fosing Industrial Internet Park, Hainan Resort Software Community, Sanya Yazhou Bay Science and Technology City, and Overseas Returnees Town Lingshui.

The MoU establishes a framework for cooperation on cross-border data flows through the development of joint mechanisms that ensure data security and resilience while facilitating the smooth and secure transfer of information between the signatories.

*Source: AETOSWire

Contacts

Mazen Dirany

World-FZO Media

meldirany@diez.ae

Mitsubishi Electric Collaborating with JICA and Hankyu to Promote Energy Conservation of Manila’s Light Rail




Mitsubishi Electric Collaborating with JICA and Hankyu to Promote Energy Conservation of Manila’s Light Rail

Using data-analysis services to reduce environmental impact of Manila’s light rail system

TOKYO–(BUSINESS WIRE)–Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it is collaborating with the Japan International Cooperation Agency (JICA) and Hankyu Corporation on a technical-cooperation project to promote the energy conservation of the Manila Light Rail Transit Authority’s (LRTA) Line 1, which is operated and maintained by the Light Rail Manila Corporation (LRMC). Mitsubishi Electric will leverage its data-analysis services for railways to assess the railway line’s energy usage, verify energy-saving measures and propose corresponding solutions.

Railway infrastructure development is being promoted in the Manila metropolitan area, where reliance on automobiles as the main mode of transportation has led to chronic traffic congestion, worsening air pollution and increasing CO₂ emissions. LMRC requested JICA’s support to achieve more energy-efficient operations and reduce CO₂ emissions of LRT Line 1. In turn, JICA launched a technical-cooperation project with Hankyu, a company with a proven record of operating energy-efficient railways in Japan.

Commissioned by Hankyu to participate in the project, Mitsubishi Electric will use its Serendie^TM digital platform to analyze the LRT Line 1’s current power consumption, verify the feasibility and effectiveness of various energy-saving measures and then propose optimal solutions. For example, using mapping technology that visualizes surplus regenerative energy produced when railcars brake, Mitsubishi Electric expects to propose energy-saving solutions such as installing auxiliary-power supply equipment to enable station buildings to use energy and installing separate equipment to store surplus energy for later use.

For the full text, please visit: www.MitsubishiElectric.com/news/

Contacts

Customer Inquiries
Mobility Infrastructure Systems Marketing Division

Public Utility Systems Group

Mitsubishi Electric Corporation

rail.webmaster@nb.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/

Media Inquiries
Takeyoshi Komatsu

Public Relations Division

Mitsubishi Electric Corporation

Tel: +81-3-3218-2332

prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/en/pr/

Arrcus Expands India Operations to Transform AI, Datacenter and Mobile Networks




Arrcus Expands India Operations to Transform AI, Datacenter and Mobile Networks

SAN JOSE, Calif. & BENGALURU, India–(BUSINESS WIRE)–Arrcus, the hyperscale networking software company and a leader in core, edge, and multi-cloud routing and switching infrastructure, today announced significant growth in its India operations as demand accelerates for next-generation AI, datacenter and mobile networks. Along with expanding partnerships across the Indian technology ecosystem and new leadership in-country, Arrcus is strengthening its commitment to deliver scalable, AI-ready networking solutions for datacenter operators, telecom and communication service providers, and enterprises.

At the heart of Arrcus’ strategy is its Arrcus Connected Edge-AI (ACE-AI) Networking fabric, purpose-built to seamlessly connect xPUs (GPUs, DPUs, CPUs) and AI workloads scaling across datacenters, cloud, and mobile networks. This fabric enables customers to scale inferencing and training while reducing latency and cost and optimizing use of power —capabilities increasingly critical in India’s rapidly growing AI and digital economy.

“India is leading in the global AI revolution both as an innovation hub as well as a consumer of AI, with unparalleled market potential,” said Shekar Ayyar, CEO of Arrcus. “By expanding our in-country workforce and leadership as well as deepening our local partnerships, Arrcus’ networking solutions are now the best choice for Indian customers as an alternative to incumbent providers like Cisco, Arista, and HPE-Juniper. We are excited to be at the GFF and IMC events in Mumbai and Delhi in India this week.”

To support its rapid growth, Arrcus recently appointed Vikram Anand as Managing Director of India sales and business development. Vikram brings strong sales experience in building and scaling global technology operations, including leadership roles at Dell, VMware, and Persistent Systems. He will lead Arrcus’ go-to-market initiatives in India, working with customers and partners. Arrcus’ growing engineering team in India is led by Ashutosh Sharma, a veteran networking executive with over 25 years of industry experience from companies like Citrix, Cisco and Motorola.

Arrcus is expanding its partner ecosystem in India to facilitate the supply of open, disaggregated networking solutions that power digital transformation across industries. Arrcus’ innovative network infrastructure is now available for financial institutions, telecom and cloud operators, and other enterprises participating in India’s AI and 5G-driven growth.

“Fujitsu and Arrcus share a vision of delivering open, high-performance solutions that accelerate digital transformation,” stated Masaaki Moribayashi, SEVP Network & Data Center, Fujitsu Ltd. “By collaborating in India, we’re enabling customers to build agile, AI-ready infrastructures that deliver efficiency, scalability, and sustainability across industries.”

“UfiSpace is committed to empowering operators with open, disaggregated networking platforms that scale seamlessly,” said Vincent Ho, CEO of UfiSpace. “Partnering with Arrcus in India strengthens our ability to deliver carrier-class solutions that meet the demands of AI workloads and next-generation mobile networks.”

“The future of networking in India is disaggregated and open,” said Nanda Ravindran, VP of Product Management & India Operations at Edgecore. “By combining Edgecore’s proven open hardware with Arrcus’s advanced ArcOS software, we are together delivering an agile, high-performance foundation that is essential for India’s digital future, from 5G expansion to the rise of cloud and AI.”

Arrcus executives will spotlight the company’s leadership in AI networking at two major events in India this month (October 2025). At the Global Fintech Fest (GFF25) in Mumbai on October 7, Umesh Bellur, Consulting Architect at Arrcus and Professor at UC San Diego, will contribute his expertise on a panel discussion titled “AI-powered Finance: Efficiency in Financial Operations”, followed by a masterclass on “Signals, Smart and Sentiment: AI in Capital Markets”. On October 9, Arrcus CEO Shekar Ayyar will deliver a keynote address at the India Mobile Congress (IMC25) in New Delhi on “AI Networking for the Next Era of Mobility and Digital Infrastructure.”

As India continues to emerge as a global hub for AI innovation and digital transformation, Arrcus is committed to playing a central role in building the networks that will power this next era of growth for India. By investing in local talent and leadership, strengthening its ecosystem of partners, and showcasing thought leadership at premier industry forums, Arrcus is deepening its commitment to India as both a market and an innovation center for the future of AI networking.

“India represents one of the most exciting opportunities in networking today, and Arrcus is well-positioned to capture it,” stated Roy Chua, Founder and Principal, AvidThink. “The company’s focus on AI-ready infrastructure and open networking alternatives comes at the right time, as Indian organizations look for modern solutions to support their ambitious digital transformation and AI initiatives.”

“Arrcus is making a smart move by expanding its presence in India at a time when the country is becoming a major force in AI adoption and digital infrastructure,” said Scott Raynovich, Founder and Principal Analyst, Futuriom. “Their ACE-AI fabric addresses real challenges that enterprises and service providers face as they scale AI workloads, and having local leadership and partnerships will be key to their success in this fast-growing market.”

About Arrcus

Arrcus is a leading provider of networking software solutions that empower businesses to achieve unparalleled scalability, performance, and reliability in their infrastructure. Arrcus is disrupting the industry with disaggregated solutions that deliver innovative, agile, and cost-effective networking, allowing enterprises to break free from traditional, monolithic systems and embrace a more flexible, efficient, and scalable approach to modern networking. The Arrcus team consists of world-class technologists who have an unparalleled record in shipping industry-leading networking products, complemented by industry thought leaders, operating executives, strategic partners, and top-tier VCs. The company is headquartered in San Jose, Calif. For more information, go to www.arrcus.com or follow Arrcus on LinkedIn and Twitter/X.

Contacts

Arrcus-India Regional Media Contact
Rashmi Adukoorie

rashmi.adukoorie@arrcus.com

Arrcus Media Contact
Sean Griffin

sean@arrcus.com

payabl. Joins Forces with London Lions to Support UK Basketball Growth




payabl. Joins Forces with London Lions to Support UK Basketball Growth

LONDON–(BUSINESS WIRE)–payabl., a leading European fintech offering payments and business accounts, has partnered with London’s premier basketball team – the London Lions – for the 2025–2026 season, marking a new commitment to supporting the growth of basketball in the UK and beyond.

Founded in 1977, the London Lions are the most ambitious professional basketball team in the UK, competing in the Super League Basketball (SLB) and representing London on the European stage in the EuroCup.

With a fast-growing fan base, record attendance at the Copper Box Arena, and strong performances in international competitions, the 2025-26 season marks another moment on their upward trajectory.

For payabl., this partnership goes beyond visibility. It reflects a belief in harnessing the power of basketball to elevate the next generation and unite the community, values that strongly align with payabl.’s own journey.

Commenting on the partnership, Kristaps Zips, UK CEO at payabl., said: “The London Lions embody ambition, diversity, and a relentless drive to perform, qualities that resonate deeply with us at payabl. As we continue to expand in the UK, we’re proud to stand alongside a team that represents London on the European stage and inspires the next generation of talent. This sponsorship is about more than basketball; it’s about community, culture, and building something lasting together.”

Lenz Balan, CEO of London Lions, said: “We’re really proud to welcome payabl. into the London Lions family. They’re building something exciting in payments, and we see a lot of similarities in the way we’re growing basketball in the UK. We both are bold, ambitious, and forward-thinking. This partnership is about creating real value for our fans and our community, and we couldn’t be more excited to have payabl. on board.”

Fans will see the partnership come to life both on and off the court throughout the season, with payabl. branding featured during SLB and EuroCup home games at the Copper Box Arena, and community initiatives designed to bring supporters closer to the team.

Building momentum in the UK

By investing in UK sport, payabl. builds on its broader mission of supporting local communities in the markets where it operates, while reinforcing London as a key hub for innovation, culture, and connection.

The partnership underscores payabl.’s growing presence in the UK. In the last 12 months, the company welcomed a new UK CEO, Kristaps Zips, and opened a new office in Holborn to support its growing team. The London team has tripled in size, with a focus on Sales, Product, Compliance, and Marketing, and plans further expansion in the months ahead.

Strong demand from businesses, fuelled by recent launches such as point-of-sale terminals (2023), multi-currency business accounts (2024) and virtual card issuing (2025), coupled with the company’s long-standing expertise in online acquiring, has made the UK a priority market for the company.

According to the UK Government’s National Payments Vision (2025), almost 50 billion payments were made in the UK last year, around 1,500 every second. Payments are one of the country’s most critical systems: when they work seamlessly, they remain invisible. The Vision sets out a future where resilience, innovation, and inclusion underpin this infrastructure. At payabl., that’s exactly where the focus is: giving merchants the stability and visibility they need, so that they can keep payments moving without interruption – for everything from shopping online to purchases at sporting events.

Ugne Buraciene, Group CEO of payabl., added: “The UK has become one of the most important fintech markets globally, combining scale, innovation, and a thriving ecosystem. It’s a place where merchants set the pace for how payments evolve. That’s why London is a natural hub for payabl., and why our investment here continues to grow, from expanding our team and opening a new office, to building partnerships that connect us more deeply with the community. Partnering with the London Lions makes sense in that context: like us, they represent London on an international stage and inspire ambition far beyond their home court.”

Contacts

Media contacts
Viali Munteanu

viali.munteanu@payabl.com
+44 (0) 7547 819 438

payabl. Joins Forces with London Lions to Support UK Basketball Growth




payabl. Joins Forces with London Lions to Support UK Basketball Growth

LONDON–(BUSINESS WIRE)–payabl., a leading European fintech offering payments and business accounts, has partnered with London’s premier basketball team – the London Lions – for the 2025–2026 season, marking a new commitment to supporting the growth of basketball in the UK and beyond.

Founded in 1977, the London Lions are the most ambitious professional basketball team in the UK, competing in the Super League Basketball (SLB) and representing London on the European stage in the EuroCup.

With a fast-growing fan base, record attendance at the Copper Box Arena, and strong performances in international competitions, the 2025-26 season marks another moment on their upward trajectory.

For payabl., this partnership goes beyond visibility. It reflects a belief in harnessing the power of basketball to elevate the next generation and unite the community, values that strongly align with payabl.’s own journey.

Commenting on the partnership, Kristaps Zips, UK CEO at payabl., said: “The London Lions embody ambition, diversity, and a relentless drive to perform, qualities that resonate deeply with us at payabl. As we continue to expand in the UK, we’re proud to stand alongside a team that represents London on the European stage and inspires the next generation of talent. This sponsorship is about more than basketball; it’s about community, culture, and building something lasting together.”

Lenz Balan, CEO of London Lions, said: “We’re really proud to welcome payabl. into the London Lions family. They’re building something exciting in payments, and we see a lot of similarities in the way we’re growing basketball in the UK. We both are bold, ambitious, and forward-thinking. This partnership is about creating real value for our fans and our community, and we couldn’t be more excited to have payabl. on board.”

Fans will see the partnership come to life both on and off the court throughout the season, with payabl. branding featured during SLB and EuroCup home games at the Copper Box Arena, and community initiatives designed to bring supporters closer to the team.

Building momentum in the UK

By investing in UK sport, payabl. builds on its broader mission of supporting local communities in the markets where it operates, while reinforcing London as a key hub for innovation, culture, and connection.

The partnership underscores payabl.’s growing presence in the UK. In the last 12 months, the company welcomed a new UK CEO, Kristaps Zips, and opened a new office in Holborn to support its growing team. The London team has tripled in size, with a focus on Sales, Product, Compliance, and Marketing, and plans further expansion in the months ahead.

Strong demand from businesses, fuelled by recent launches such as point-of-sale terminals (2023), multi-currency business accounts (2024) and virtual card issuing (2025), coupled with the company’s long-standing expertise in online acquiring, has made the UK a priority market for the company.

According to the UK Government’s National Payments Vision (2025), almost 50 billion payments were made in the UK last year, around 1,500 every second. Payments are one of the country’s most critical systems: when they work seamlessly, they remain invisible. The Vision sets out a future where resilience, innovation, and inclusion underpin this infrastructure. At payabl., that’s exactly where the focus is: giving merchants the stability and visibility they need, so that they can keep payments moving without interruption – for everything from shopping online to purchases at sporting events.

Ugne Buraciene, Group CEO of payabl., added: “The UK has become one of the most important fintech markets globally, combining scale, innovation, and a thriving ecosystem. It’s a place where merchants set the pace for how payments evolve. That’s why London is a natural hub for payabl., and why our investment here continues to grow, from expanding our team and opening a new office, to building partnerships that connect us more deeply with the community. Partnering with the London Lions makes sense in that context: like us, they represent London on an international stage and inspire ambition far beyond their home court.”

Contacts

Media contacts
Viali Munteanu

viali.munteanu@payabl.com
+44 (0) 7547 819 438

Win Gold Every Hour – SGFX Brings Back Flagship “Gold Rush” Campaign at Forex Expo Dubai 2025




Win Gold Every Hour – SGFX Brings Back Flagship “Gold Rush” Campaign at Forex Expo Dubai 2025

MUMBAI, India & PORT LOUIS, Mauritius & DUBAI, United Arab Emirates–(BUSINESS WIRE)–#AIdriveninsights—SGFX, the flagship brand of Spectra Global LTD, is once again making waves in the trading community with the return of its most celebrated initiative – the “Gold Rush” campaign. At the upcoming Forex Expo Dubai 2025, scheduled for 6th and 7th October at the Dubai World Trade Centre (WTC), SGFX will be giving visitors the chance to win a genuine Gold Coin every single hour at its Booth No. 44.

The “Gold Rush” has become a trademark feature of SGFX’s expo appearances, having already turned heads at international industry gatherings such as the iFX Expo. With every edition, the campaign has attracted massive footfall and excitement, making SGFX one of the most talked-about exhibitors. The 2025 Dubai edition is expected to be the largest and most ambitious rollout yet, ensuring that the buzz around SGFX continues to grow.

A Campaign Beyond Giveaways

Every hour, lucky visitors will walk away with a real gold coin, reinforcing SGFX’s reputation for delivering experiences that go beyond traditional marketing.

“The Gold Rush is more than just a giveaway. It’s our way of saying thank you to the trading community while highlighting SGFX’s commitment to trust, value, and long-term relationships,” said Mr. Sid G, Official Representative of Spectra Global Financial Markets LLC.

Gold, as a symbol of trust and reliability, perfectly mirrors SGFX’s brand philosophy: providing traders with fast withdrawals, smarter trades, world-class infrastructure, and AI-driven insights.

In addition to the Gold Rush for visitors, Introducing Brokers (IBs) will also have the chance to take part in the exclusive IB Gold Legend campaign, where top-performing partners can earn up to 1KG of gold. This initiative is being hailed as one of the biggest-ever gold giveaway campaigns in the history of the forex industry, designed to reward IBs for their growth, loyalty, and performance with SGFX.

While the Gold Rush and IB Gold Legend campaigns are set to draw unprecedented attention, SGFX will also use the expo to showcase its cutting-edge trading platform, discuss partnership opportunities, and share its future roadmap across MENA, Asia, and global markets. Visitors will experience firsthand how SGFX combines innovation with reliability, making it a trusted choice for traders and affiliates worldwide.

Event Details

• Event: Forex Expo Dubai 2025
• Dates: 6th & 7th October 2025
• Location: World Trade Centre, Dubai
• SGFX Booth: No. 44

For more details, visit www.SGFX.com or follow SGFX on social media for live updates during the event.

Contacts

Media Contact:
Sid G – +971 58 534 4074

Win Gold Every Hour – SGFX Brings Back Flagship “Gold Rush” Campaign at Forex Expo Dubai 2025




Win Gold Every Hour – SGFX Brings Back Flagship “Gold Rush” Campaign at Forex Expo Dubai 2025

MUMBAI, India & PORT LOUIS, Mauritius & DUBAI, United Arab Emirates–(BUSINESS WIRE)–#AIdriveninsights—SGFX, the flagship brand of Spectra Global LTD, is once again making waves in the trading community with the return of its most celebrated initiative – the “Gold Rush” campaign. At the upcoming Forex Expo Dubai 2025, scheduled for 6th and 7th October at the Dubai World Trade Centre (WTC), SGFX will be giving visitors the chance to win a genuine Gold Coin every single hour at its Booth No. 44.

The “Gold Rush” has become a trademark feature of SGFX’s expo appearances, having already turned heads at international industry gatherings such as the iFX Expo. With every edition, the campaign has attracted massive footfall and excitement, making SGFX one of the most talked-about exhibitors. The 2025 Dubai edition is expected to be the largest and most ambitious rollout yet, ensuring that the buzz around SGFX continues to grow.

A Campaign Beyond Giveaways

Every hour, lucky visitors will walk away with a real gold coin, reinforcing SGFX’s reputation for delivering experiences that go beyond traditional marketing.

“The Gold Rush is more than just a giveaway. It’s our way of saying thank you to the trading community while highlighting SGFX’s commitment to trust, value, and long-term relationships,” said Mr. Sid G, Official Representative of Spectra Global Financial Markets LLC.

Gold, as a symbol of trust and reliability, perfectly mirrors SGFX’s brand philosophy: providing traders with fast withdrawals, smarter trades, world-class infrastructure, and AI-driven insights.

In addition to the Gold Rush for visitors, Introducing Brokers (IBs) will also have the chance to take part in the exclusive IB Gold Legend campaign, where top-performing partners can earn up to 1KG of gold. This initiative is being hailed as one of the biggest-ever gold giveaway campaigns in the history of the forex industry, designed to reward IBs for their growth, loyalty, and performance with SGFX.

While the Gold Rush and IB Gold Legend campaigns are set to draw unprecedented attention, SGFX will also use the expo to showcase its cutting-edge trading platform, discuss partnership opportunities, and share its future roadmap across MENA, Asia, and global markets. Visitors will experience firsthand how SGFX combines innovation with reliability, making it a trusted choice for traders and affiliates worldwide.

Event Details

• Event: Forex Expo Dubai 2025
• Dates: 6th & 7th October 2025
• Location: World Trade Centre, Dubai
• SGFX Booth: No. 44

For more details, visit www.SGFX.com or follow SGFX on social media for live updates during the event.

Contacts

Media Contact:
Sid G – +971 58 534 4074