Market Newsdesk

NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) — Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced that its existing client National Insurance Company Ltd. (“NICL”) has expanded the geographical scope for Roadzen’s AI powered XClaim Product. NICL has a total of 34 Regional Offices, of which 10 joined Roadzen’s AI-powered XClaim platform. Based upon strong performance, NICL has expanded its contract with Roadzen to include an additional 4 regional offices, effective January 1, 2025.

Roadzen was selected as a Digital Service Provider (“DSP”) for processing AI based claims after successfully completing a comprehensive vetting of NICL’s Request for Proposal (“RFP”) process. The evaluation process was carried out by an association of four government owned auto insurance carriers that account for an approximate 32% share of the India automobile insurance market, which has been growing roughly 18% annually.

Collectively, the four Indian Government owned insurers manually process an estimated 1.4 million automobile claims each year. The RFP was issued to assess the feasibility of upgrading to digital claims processing. Government-owned NICL processes approximately 200,000 claims annually. NICL’s assessment is ongoing, with periodic opportunities to alter claims processing allocations based upon which provider demonstrates superior processing speed, reduced loss ratios and improved customer experience.

Roadzen is uniquely positioned to increase its share of NICL’s claims processing business through its claims platform called XClaim, which is a digital, touchless, real-time claims resolution from first notice of loss (FNOL) through settlement, using computer vision. By utilizing XClaim, the claims can be settled faster by removing manual visits by traditional surveyors. Surveys are conducted remotely using photos, videos or real-time streaming from which real-time estimates and approvals are generated. Once the claim is serviced, instant final reports are shared with the insurer to complete the claim and make the payments.

This shift to AI-powered claims processing will not only benefit insurers but also policyholders by expediting the claims process and offering a more streamlined experience.

Rohan Malhotra, founder and CEO of Roadzen commented, “We are pleased that NICL has experienced a successful launch with our XClaim platform and, within just a few months, has already expanded our contract. This marks an important validation of our technology and how AI is fundamentally transforming the claims process. Our XClaim platform has consistently demonstrated a dramatic increase in the speed of claims processing while saving money by providing more precise estimates with less overhead and virtually little opportunity for slippage or fraud. We believe we are the future of AI-powered claims operations, and this expansion by one of India’s largest insurers further reinforces that belief.”

For more information about Roadzen Inc. please visit https://roadzen.ai/

About Roadzen Inc.

Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world’s leading insurers, carmakers and fleets to dealerships and auto insurance agents, use Roadzen’s technology to build new products, sell insurance, process claims, and improve road safety. Roadzen’s pioneering work in telematics, generative AI, and computer vision has earned Roadzen recognition as a top AI innovator by publications such as Forbes, Fortune and Financial Express. Roadzen’s mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 360 employees across its global offices in the U.S., India, U.K. and France. To learn more, please visit www.roadzen.ai.

Investor Contacts:

[email protected]

Media Contacts:

Sanya Soni: [email protected]
Gutenberg: [email protected]

Cautionary Statement Regarding Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “pipeline,” “leads,” “estimate,” and “continue,” or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding the agreement in principle to extend our senior debt, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in “Risk Factors” in our Securities and Exchange Commission (“SEC”) filings, including the definitive proxy statement/prospectus we filed with the SEC on August 14, 2023. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

TORONTO, Dec. 18, 2024 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that its operating entities in Mali, namely Société des Mines de Loulo SA and Société des Mines de Gounkoto SA, have submitted a request for arbitration to the International Centre for the Settlement of Investment Disputes (ICSID), in accordance with the provisions of their respective Mining Conventions with the State of Mali, to address matters of disagreement regarding the Loulo-Gounkoto complex.

This step reflects Barrick’s commitment to adhering to established processes for resolving disputes in a fair and transparent manner. The arbitration mechanism, provided for under the Somilo and Gounkoto Mining Conventions with the State, has previously proven to be an effective tool for reinforcing partnerships and finding mutually acceptable solutions through an independent and competent authority.

“Over its nearly three decades of operating in Mali, Barrick has consistently demonstrated its long-term commitment to the country and its people. While this process is ongoing, Barrick remains open to continued dialogue with the Government to resolve these issues amicably and ensure the long-term success of the Loulo-Gounkoto complex,” said Mark Bristow, Barrick president and CEO.

Barrick enquiries

Investor and media relations

Kathy du Plessis
+44 20 7557 7738
Email: [email protected]

Website:

www.barrick.com

Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “continue”, “intended”, “committed”, “engage”, “negotiate”, “pursue” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: the outcome of dispute resolution through arbitration; the status of negotiations with the Government of Mali in respect of ongoing disputes regarding the Loulo-Gounkoto Complex and Barrick’s commitment to reach a mutually acceptable solution; the potential to increase the Government of Mali’s share in the economic benefits of Loulo-Gounkoto; and Loulo-Gounkoto’s partnership with the Government of Mali.

Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Mali and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; risks related to disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

MIAMI, Dec. 18, 2024 (GLOBE NEWSWIRE) — Longeveron Inc. (NASDAQ: LGVN), a clinical stage regenerative medicine biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions, today announced that Wa’el Hashad, Chief Executive Officer, will give a corporate presentation at Biotech Showcase, being held January 13-15, 2025.

Details for the Company’s presentation:

The webcast for this conference presentation may be accessed at the “Events and Presentations” section of the Company’s website. A replay of the webcast will be available on the Longeveron website following the conference.

About Longeveron Inc.

Longeveron is a clinical stage biotechnology company developing regenerative medicines to address unmet medical needs. The Company’s lead investigational product is Lomecel-B™, an allogeneic medicinal signaling cell (MSC) therapy product isolated from the bone marrow of young, healthy adult donors. Lomecel-B™ has multiple potential mechanisms of action encompassing pro-vascular, pro-regenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is currently pursuing three pipeline indications: hypoplastic left heart syndrome (HLHS), Alzheimer’s disease (AD), and Aging-related Frailty. Lomecel-B™ development programs have received five distinct and important FDA designations: for the HLHS program – Orphan Drug designation, Fast Track designation, and Rare Pediatric Disease designation; and, for the AD program – Regenerative Medicine Advanced Therapy (RMAT) designation and Fast Track designation. For more information, visit www.longeveron.com or follow Longeveron on LinkedIn, X, and Instagram.

Investor and Media Contact:

Derek Cole
Investor Relations Advisory Solutions 
[email protected]

Advanced market-ready solution now available with first order for hundreds of units to be delivered by year-end

Rehovot, Israel, Dec. 18, 2024 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”)-based edge computing technology, today announced the successful completion of the development for its Uranus-Drones, now available as a market-ready solution for advanced unmanned aircraft systems. The first customer, a market leader in drone design and manufacture, has already placed an order for hundreds of units, which are set for delivery by the end of 2024.

The Uranus-Drones video payload, which is based on Maris-Tech’s proprietary Uranus technology, is designed to support High-Definition Multimedia Interface (HDMI) connectivity and edge processing. This allows for tracking, detection, and real-time data collection without the need for additional accessories – enabling a direct connection to the camera and full control over its capabilities. As a versatile solution, Uranus-Drones is ideal for a wide range of unmanned systems, addressing the growing demand across the defense, homeland security, commercial and aerospace markets.

“The completion of the Uranus-Drones video payload marks a major milestone for Maris-Tech as we introduce this innovative product to the market,” said Israel Bar, Chief Executive Officer of Maris-Tech. “We are proud to deliver the first order and have reached interest from additional customers who recognize the value of this advanced solution.”

Uranus-Drones video payload offers powerful processing capabilities with minimal energy consumption, a combination that ensures drones can undertake extended missions. It supports 4K Ultra HD video for precision intelligence and data gathering. Its lightweight and compact design is optimized for the defense sector by improving drone maneuverability and deployment versatility.

Uranus-Drones acts as the central hub for transferring data between the flight controller, camera, and gimbal, positioning it as the ‘brain’ of the drone. With the integration of Maris-Tech’s Uranus-Drones video payloads, drones will gain unparalleled video streaming, tracking, and intelligence-gathering capabilities.

About Maris-Tech Ltd.

Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israel technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, homeland security (HLS) and communication industries worldwide. We’re pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors.

For more information, visit https://www.maris-tech.com/

Forward-Looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect”,” “may”, “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we are discussing the timeline for the delivery of the first order of the Uranus-Drones to our customer, the technological abilities and expected advantages and benefits to our customers of the Uranus-Drones and interest in the Uranus-Drones from additional customers. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services, including in the United States; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in the Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 21, 2024, and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investor Relations:

Nir Bussy, Chief Financial Officer
Tel: +972-72-2424022
[email protected]

NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) — Although fewer organizations report difficulty with attraction and retention, salary increase budgets at U.S. companies are projected to remain at the same level as last year. While salary increase budgets are stabilizing, with 2025 planned increases projected to be 3.7% on average compared with the 3.8% average budget awarded in 2024, they remain higher than the pre-pandemic norm of 3%. This is according to the latest Salary Budget Planning Report by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company.

Despite a conservative outlook for 2025, salary increases remain at a healthy rate by historic standards and amid higher total payroll expenses (which include salaries, bonuses, variable pay and benefit costs). According to WTW’s survey findings, the average increase in payroll for respondents was 5.5% in 2024.

For those companies planning to reduce salary increase budgets, weaker financial results (36%) and cost management concerns (34%) were the most commonly cited reasons. For those planning to increase salary budgets, inflationary pressures (39%) and tight labor market concerns (31%) were the most common factors.

Steady and improved pay increases are indicative of organizations’ investment in talent. Overall, fewer organizations (36%) reported difficulty in attracting and retaining employees, down nine percentage points from last year and 17 percentage points from the prior year.

“Although salary is crucial for employees, other elements — such as healthcare and retirement benefits, new challenges, work flexibility and meaningful contributions — are significant as well. Companies should consistently evaluate their comprehensive offerings, focusing on workplace culture, communication, and a holistic approach to benefits and rewards,” stated Russ Wakelin, head of Global Product Development within Rewards Data Intelligence at WTW.

As organizations focus on their workforces, many have taken action to improve workplace culture in light of the current market conditions. For instance, more than half (54%) have placed broader emphasis on diversity, equity and inclusion, and just as many (53%) have taken steps to improve the employee experience. In addition, 48% are incorporating more workforce flexibility. More than half (52%) of organizations offer or are planning to offer the choice for remote, onsite or hybrid work arrangements.

“The U.S. labor market has stabilized because demand for talent dropped significantly from the prior three years. But supply has not changed, which is why the labor market still has vulnerabilities. Employers planning to lower salary increases closer to the 3% we saw for the decade before 2022 should understand that the competition for talent is still fairly strong, especially in certain industries. The focus should now be on retention, so spending the salary increase budget wisely to manage potential undesired attrition if demand was to pick up in 2025 is critical to future-proofing your workforce,” said Lori Wisper, global solutions leader, Work & Rewards, WTW.

About the survey

The Salary Budget Planning Report is compiled by WTW’s Rewards Data Intelligence practice. The survey was conducted between September and the end of October 2024. Over 37,000 responses were received from companies across over 150 countries worldwide. In the U.S. 2,002 organizations responded.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

Media contacts:

Ileana Feoli
[email protected]

Stacy Bronstein
[email protected]