Latest news with #Estonia-based
Fintech News ME
3 days ago
- Business
- Fintech News ME
Tuum to Power Uptex Bank's E-Banking Services in MEA
Tuum, an Estonia-based next-generation core banking provider, has been selected by Oliver Business Development (OBD) Holding to support its newly licensed e-banking services in the Middle East and Africa (MEA) under the Uptex Bank brand. Following the acquisition of its e-banking license, OBD is launching Uptex Bank, offering digital wallet and payment services designed to integrate with its existing financial ecosystem, including Uptex Broker, a forex and CFD broker in the MEA region, and Rizzbees, an EU-licensed crypto exchange. The bank's services will operate on Tuum's modular, cloud-native core platform, deployed via AWS in Europe and designed for scalability, compliance, and rapid development. Uptex Bank sought a partner capable of delivering a minimum viable product (MVP) within a short timeframe while maintaining scalability and regulatory compliance. Tuum's approach as a collaborative partner was a decisive factor in the selection process. 'We're building a unique e-money proposition that brings together traditional and next-gen financial services into one seamless ecosystem,' said Archie Sol, Chief Marketing Officer at OBD. 'Tuum stood out as the platform to help us achieve this vision. From their sleek technology to the responsiveness of their team, it was clear that they're not just a vendor, they're a partner. With Tuum, we're not only launching fast, we're building for scale. Uptex Bank is built for people tired of the old way banks treat them. From Gen Z and digital-first users to everyday customers seeking something faster, fairer, and more intuitive.' Tuum's API-first infrastructure allows Uptex Bank to integrate its new e-banking services with its existing brokerage and crypto operations, creating a unified environment across its brands. The platform is aligned with Omani regulatory requirements, including standards set by the Central Bank of Oman and the Capital Market Authority, and will support digital wallets and multi-currency payments (USD, EUR, GBP, AED, OMR, SAR) from launch. OBD anticipates onboarding over 50,000 users in the first year, with millions of transactions expected across its fintech portfolio. Tuum was selected following a competitive process in which speed, scalability, and regulatory readiness were key considerations. The platform's capabilities allowed Uptex Bank to plan an MVP launch within months while retaining enterprise-level controls. Tuum also supported OBD in assembling relevant ecosystem partners aligned with Uptex Bank's business model. 'This is a landmark win for Tuum,' said Miljan Stamenkovic, Chief Revenue Officer at Tuum. 'It shows the rising demand for modern, modular core banking platforms in the Middle East. OBD is building an ambitious and truly differentiated proposition in Oman and we're proud to provide the infrastructure behind it.'
Euronews
07-07-2025
- Business
- Euronews
Lime withdraws bikes in Brussels as city cracks down on rides for hire
People trying to rent a bright green electric scooter or bike via the Lime or Uber apps, received the following message on Friday: "Lime is no longer operating in Brussels. The Brussels authorities have forced Lime to suspend service in the city." The largest shared mobility operator, a subsidiary of Uber, was forced to withdraw 6,000 of its battery-powered scooters and bikes from the Belgian capital after the city's government selected just three out of the previous seven such providers to officially operate in Brussels in 2023. It comes as part of an attempt by Brussels to downsize micromobility units in the city from 20,000 to just 8,000. Estonia-based Bolt, the Dutch company Dott and Sweden's Voi will each be allowed to operate 2,500 e-bikes in Brussels, and Bolt and Dott will be permitted to offer 4,000 scooters each for hire. "By limiting the number of operators, we now have a workable and realistic number of shared scooters and shared bicycles in Brussels," Mobility Ministery Elke Van den Brandt of Groen told Euronews. She added that the decision was necessary to ensure the city's public spaces are safe and accessible for all road users. "The oversupply [of electric bikes and scooters] in recent years caused too much nuisance and today the three licensed operators are adhering to the ordinance of the Brussels Government." In addition to the reduced units, official drop zones will also be introduced where users can park the bikes and scooters. Scooter- and bike-sharing operators had also been advocating for stricter regulations in the sector, arguing that the growing number of providers in the city made it increasingly difficult for them to remain viable. Claims of lack of transparency The decision to introduce restrictions on e-bike and scooter services in the Belgian capital had been made in 2023, however Lime and Voi both contested the decision. Belgium's Council of State granted the American and Swedish operators a short reprieve, allowing them to continue operating until the expiration of their license. Lime's license ended on 2 July while Voi's is set to end on 23 August. The three operators selected to stay operational were chosen based on a number of criteria, including compliance with parking regulations and management of public space, safety of other road-users, quality of the vehicles, compliance with Belgium's Highway Code and environmental impact. However, Lime claimed the selection procedure was not transparent and that the Belgian capital did not make a fair analysis of the applications, local media reported. "We believe the selection process was flawed and lacked transparency," Benelux public affairs lead Sofie Staelraeve told local media. Although Lime's operating license has expired, their legal case is still ongoing and the company is still hopeful of a return to the city. In the meantime, the American operator has filed an additional lawsuit against the city, claiming that no interim solution was provided. Lime argues it could face losses of around €1 million per month during the period it is unable to operate. "If Lime wins the legal case, the Brussels Region may be liable for millions of euros in compensation," the company told local media. Scooters operated by Tier, Poppe and Pony already disappeared from the Brussels streets on 1 Feburary. Many road users have been divided on the use of the self-service scooters, as they have been deemed controversial across Europe. While scooters offer a more eco-friendly alternative to petrol-powered cars and help reduce traffic congestion in busy cities, they have widely faced criticism for contributing to accidents and cluttering public spaces. Several European cities have banned e-scooters. Paris were the first to completely ban them in 2023. Meanwhile, Barcelona, Vienna, and Rome have all tightened rules and imposed additional restrictions.
The Market Online
27-05-2025
- Business
- The Market Online
Stardust Solar signs AI-powered renewable energy optimization deal
Stardust Solar Energy (TSXV:SUN) has signed a letter of intent (LOI) with Estonia-based MarkeDroid OÜ, a provider of AI-driven virtual power plant services Stardust Solar intends to integrate and white-label MarkeDroid's AI optimization platform across its network of over 93 franchise territories in Canada, the United States, and the Caribbean the platform to generate optimal 24-hour energy plans for each asset. The system dynamically recalibrates in response to grid fluctuations or changes in energy storage Stardust Solar Energy stock (TSXV:SUN) last traded at $0.14 Stardust Solar Energy (TSXV:SUN) has signed a non-binding letter of intent (LOI) with Estonia-based MarkeDroid OÜ, a provider of AI-driven virtual power plant services. The LOI outlines plans for Stardust Solar to become the exclusive North American distributor of MarkeDroid's advanced solar and battery optimization technology. This strategic partnership was facilitated by ClimateDoor and the European Union's Lower Carbon Business Action (LCBA) program, which connects cutting-edge European clean technologies with Canadian market leaders. A leap toward smarter energy Under the terms of the LOI, Stardust Solar intends to integrate and white-label MarkeDroid's AI optimization platform across its network of over 93 franchise territories in Canada, the United States, and the Caribbean. The technology is designed to optimize energy usage by analyzing market prices, solar production, and consumption patterns to determine the most efficient buy-sell-store cycles. MarkeDroid's platform also offers advanced battery arbitrage and grid flexibility services, which are expected to significantly reduce energy costs for both residential and commercial customers. 'This LOI marks a pivotal milestone in our growth strategy,' said Mike Cioffi, Founder and CEO of Stardust Solar. 'By integrating MarkeDroid's AI capabilities, we're not only enhancing the value we deliver to our customers but also reinforcing our commitment to innovation and sustainability.' Building on momentum The agreement follows a series of major achievements for Stardust Solar, including: The acquisition of 49 U.S. territories through the purchase of Solar Grids Development LLC assets. New franchise launches in high-growth markets such as Dallas-Fort Worth, Texas, and Florida. A project backlog exceeding C$2 million in signed contracts for solar and energy storage installations set to begin in spring 2025. A strategic distribution agreement with Tesla for the Powerwall energy storage solution. MarkeDroid's optimization engine is built on proprietary AI models developed in collaboration with STACC, a data science firm affiliated with the University of Tartu. The system uses a combination of: Location-specific weather forecasts Historical consumption data Real-time energy market prices On-site parameters such as photovoltaic (PV) capacity and battery storage These inputs allow the platform to generate optimal 24-hour energy plans for each asset. The system dynamically recalibrates in response to grid fluctuations or changes in energy storage, working to ensure maximum efficiency and reliability. Leadership insights 'We are excited to bring MarkeDroid's intelligent optimization technology to North America, further enhancing the value proposition of our solar and battery storage installations,' Mark Tadros, Stardust Solar's founder and CEO said in a news release. 'This partnership reflects our commitment to delivering solutions that not only drive down costs but also accelerate renewable energy adoption across our growing footprint.' 'Through our partnership with Stardust Solar, we will aim to make a tangible impact on North American renewable energy markets,' Toomas Teesaar of MarkeDroid added. 'Stardust Solar's extensive installer network and commitment to exceptional service are an ideal match for our vision of enabling more flexible and efficient clean energy ecosystems.' The LOI sets the stage for a definitive commercial agreement, supported by EU-funded technical assistance. If finalized, the partnership could lead to future co-development opportunities and deeper collaboration between the two companies. The transaction remains subject to customary conditions, including regulatory approvals and the execution of a definitive agreement. Both companies are independent entities, and no finder's fees are expected in connection with the LOI. This partnership is expected to deliver not only financial benefits but also significant environmental impact by reducing reliance on grid electricity and lowering carbon emissions across North America. About Stardust Solar Energy Stardust Solar Energy Inc. is a North American franchise provider in renewable energy installations, offering expertise in solar PV systems, energy storage solutions, and electric vehicle charging infrastructure. The company empowers entrepreneurs by providing a fully branded business platform, state-of-the-art equipment, and end-to-end support services spanning marketing, sales, engineering, and project management. Stardust Solar Energy stock (TSXV:SUN) last traded at $0.14 and though it is up 7.41 per cent since the year began, it has lost 9.38 per cent since this time last year. Join the discussion: Find out what everybody's saying about this stock on the Stardust Solar Energy Bullboard, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Business Mayor
28-04-2025
- Automotive
- Business Mayor
Verge's Hubless Wheels for Production Vehicles
Verge Next, a subsidiary of Estonia-based Verge Motorcycles, invented this Donut Motor. It's designed to drive a hubless wheel. Although once seen as something that simply looked cool in renderings, the company says the hubless arrangement brings performance and manufacturing benefits, 'delivering unmatched torque and power density with minimal weight.' For one thing, there's no chain, belt or drivetrain required. Secondly, it frees the body of the bike from the task of holding the motor—everything is now contained within that rear wheel. That means the entire body of the bike can now be filled with batteries, adding range. Furthermore: 'The Verge Next Platform redefines vehicle design, drastically lowering the threshold for creating new two-wheelers. By eliminating unnecessary moving parts, the architecture and engineering processes become significantly simpler and more streamlined.' 'Our solution brings multiple benefits: decreased weight leads to greater efficiency, reduced manufacturing complexity minimizes costs, and fewer components translate to lower maintenance needs over the vehicle's lifetime.' The company has not only incorporated the Donut Motor into their own bikes, but is now licensing the technology. Assuming it does what it says on the tin, our future streetscapes will be covered with hubless bikes, scooters and motorcycles. Here's a closer look at a Verge bike and how its design is influenced by the motor: Enter a caption (optional)
HKFP
23-04-2025
- Politics
- HKFP
European press group says detention of 2 journalists in Macau a ‘serious attack on press freedom'
A European journalist organisation has condemned the detention of two reporters in Macau, calling it 'a serious attack on press freedom.' The Society of European Journalists & Communication Professionals in Asia (JOCPA) issued a statement on Tuesday after police detained two journalists from online news outlet All About Macau, who tried to report on a legislative debate last week. According to All About Macau, two of its reporters were taken for questioning last Thursday after trying to enter the chamber of the Legislative Assembly to report on a debate about the policy address. Police detained the two journalists for 11 hours, the media outlet said in a Chinese-language statement on Friday. The Estonia-based JOCPA called on authorities in Macau and Beijing 'to respect the basic rights enshrined in the Basic Law of Macau, including freedom of the press.' 'The arbitrary detention of two journalists in Macao is a serious attack on press freedom and a warning sign of increasing authoritarianism in the region,' JOCPA founder and president Josep Solano said in the statement. 'It is deeply disturbing that such actions can take place inside a legislative chamber -a space that should embody transparency and accountability.' The Macau government-funded broadcaster TDM cited police as saying that the two reporters were suspected of violating the offence of 'disrupting the operations of the Macau Special Administrative Region authorities.' The reporters tried multiple times to enter the chamber but were rejected, police told the public broadcaster. The pair were taken to a police station after legislative staff called the police because the journalists allegedly shouted in the chamber, it also reported. Local media outlet Macau Elephant reported that three All About Macau reporters were banned from entering the legislature chamber on Tuesday, when the city's new chief executive, Sam Hou Fai, delivered his maiden policy address. Two days later, All About Macau reporters tried to enter the chamber to report on the legislative debate on the policy address, which was attended by Cheong Weng Chon, the Macau secretary for administration and justice. However, some staff formed a human barricade to prevent journalists from entering. Shrinking space One of the two detained reporters taken away is the president of the Macau Journalists Association, the press union said on Friday. It also said that it 'deeply regrets' the incident and that the two reporters 'may face possible criminal charges.' According to the press union's statement on April 13, the Macau government has banned many local magazines and online media outlets from reporting official events, especially those attended by top officials, over the past 100 days since the inauguration of the new administration. 'Looking at the recent situation, the space for covering government news has shrunk significantly,' it said. 'This is not an isolated event, nor are only individual media outlets affected.'
