Latest news with #ACG
Mid East Info
14 hours ago
- Business
- Mid East Info
Arab Coordination Group (ACG) provided US$ 19.6 billion in 2024 to promote global sustainable development - Middle East Business News and Information
The ACG Heads of Institutions gathered in Vienna today for their 20th annual meeting hosted by the OPEC Fund for International Development (the OPEC Fund). Ahead of the Fourth International Conference on Financing for Development (FFD4) which is scheduled to take place from 30 June to 3 July 2025 in Spain, the group reaffirmed its commitment to scaling-up financial assistance for sustainable development. The top three sectors supported by ACG financing last year were energy (29 percent), agriculture (20 percent) and the financial sector (16 percent). Over 45 percent of the total financing promoted global trade, ensuring the movement of critical products and supporting small and medium-sized enterprises. In 2024, approximately 20 percent of the ACG's commitments were dedicated to Africa, aligned with the US$50 billion pledge made by the group in November, 2023. During their meeting in Vienna today, the Heads of Institutions pledged continued and increasing support to the most vulnerable communities in Africa. The commitment aims to provide financing for energy security and energy transition; food security; enhanced integration of the Arab and African regions; gender and youth initiatives; and private sector support. The ACG will celebrate its 50th Anniversary in October 2025, marking a significant milestone in its journey of fostering sustainable development worldwide. This momentous occasion will provide an opportunity to reflect on the Group's remarkable legacy, achievements, and challenges, while also reaffirming its commitment to global development. This event will not only document the Group's accomplishments over the past fifty years but also inspire renewed commitment to advancing impactful development solutions worldwide. Distributed by APO Group on behalf of Arab Coordination Group (ACG). About the Arab Coordination Group ACG: The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising ten development funds, ACG is the second-largest group of development finance institutions in the world and works across the globe to support developing nations and create a lasting, positive impact. The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.
Mid East Info
14 hours ago
- Business
- Mid East Info
Arab Coordination Group ACG provided US$ 19.6 billion in 2024 to promote global sustainable development - Middle East Business News and Information
The Arab Coordination Group ACG, the world's second-largest development finance group, extended US$19.6 billion collectively to fund nearly 650 operations in more than 90 countries in 2024. This significant financing was geared towards developing critical infrastructure, addressing global challenges like climate change and food security, and supporting international trade. The ACG Heads of Institutions gathered in Vienna today for their 20th annual meeting hosted by the OPEC Fund for International Development (the OPEC Fund). Ahead of the Fourth International Conference on Financing for Development (FFD4) which is scheduled to take place from 30 June to 3 July 2025 in Spain, the group reaffirmed its commitment to scaling-up financial assistance for sustainable development. The top three sectors supported by ACG financing last year were energy (29 percent), agriculture (20 percent) and the financial sector (16 percent). Over 45 percent of the total financing promoted global trade, ensuring the movement of critical products and supporting small and medium-sized enterprises. In 2024, approximately 20 percent of the ACG's commitments were dedicated to Africa, aligned with the US$50 billion pledge made by the group in November, 2023. During their meeting in Vienna today, the Heads of Institutions pledged continued and increasing support to the most vulnerable communities in Africa. The commitment aims to provide financing for energy security and energy transition; food security; enhanced integration of the Arab and African regions; gender and youth initiatives; and private sector support. The ACG will celebrate its 50th Anniversary in October 2025, marking a significant milestone in its journey of fostering sustainable development worldwide. This momentous occasion will provide an opportunity to reflect on the Group's remarkable legacy, achievements, and challenges, while also reaffirming its commitment to global development. This event will not only document the Group's accomplishments over the past fifty years but also inspire renewed commitment to advancing impactful development solutions worldwide. About the Arab Coordination Group ACG: The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising ten development funds, ACG is the second-largest group of development finance institutions in the world and works across the globe to support developing nations and create a lasting, positive impact. The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.
Zawya
19 hours ago
- Business
- Zawya
Arab Fund reaffirms commitment to sustainable development
Vienna – The Arab Fund for Economic and Social Development (Arab Fund) joins regional development leaders at the 20th Annual Meetings of the Arab Coordination Group (ACG), the world's second largest development finance group, hosted by the OPEC Fund for International Development, in Vienna. As a member of the ACG, a strategic alliance of ten Arab development institutions, the Arab Fund reaffirms its commitment to advancing inclusive economic growth, climate resilience, and job creation for Arab youth. 'The Arab Fund is committed to shaping a shared development agenda with regional partners, helping member countries achieve their Sustainable Development Goals' said Mr. Bader Alsaad, Director General and Chairman of the Board of the Arab Fund for Economic and Social Development. 'Our new strategy focuses on collaboration and partnerships with regional and international institutions to maximize long-term development impact through our operations', he added. During the meetings, the Arab Fund contributed to high-level roundtable discussion with H.E. Mohamed Ould Ghazouani, President of Mauritania, exploring avenues for strategic cooperation and underscoring the collective commitment of ACG institutions to fostering impactful partnerships. In 2024, the ACG collectively provided $19.6 billion to finance nearly 650 operations across 90 countries. These investments targeted key sectors such as energy, agriculture, and the financial sector, with over 45 percent support for global trade and small and medium-sized enterprises (SMEs). The Arab Fund has played a critical role in advancing regional development impact across Arab countries. Over the past 50 years, the Arab Fund co-financed joint development projects with other Arab financial institutions, contributing $14.63 billion, which represents approximately (31.5 percent) of total co-financing efforts. Among these notable projects is the co-financed electrical interconnection between Nouakchott and Zouerate in Mauritania, undertaken with the Saudi Fund for Development and the Abu Dhabi Fund for Development. This project aimed to provide secure and low-cost electricity to northern Mauritania, thereby strengthening the country's national power transmission network. About the Arab Fund: The Arab Fund for Economic and Social Development is a regional financial institution based in Kuwait, established in 1968 to support the economic and social development of Arab countries. Through loans, grants, and technical assistance, the Arab Fund finances infrastructure, education, health, water and sanitation and public service projects that contribute to sustainable development and regional cooperation across the Arab world. About the Arab Coordination Group (ACG) The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising of ten development funds, ACG is the second-largest grouping of development finance institutes in the world and works across the globe to support developing nations and create a lasting, positive impact. The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development. For Media inquiries, please contact: Mohamed Eissa, Joyce Haykal,
Malaysian Reserve
6 days ago
- Entertainment
- Malaysian Reserve
Celebrating the best of comics
CAFKL is a creator-focused event celebrating the best of illustration and comic art regardless of language and cultural barriers by AZALEA AZUAR ON MAY 31 and June 1, the third floor of Farenheit88 Bukit Bintang, Kuala Lumpur (KL) was trans- formed into a hub of creativity and imagination where visitors expressed themselves in quirky costumes and artists showcased their masterpieces, while pages of zines were being flipped through. This year, Comic Art Festival KL (CAFKL) returned for its ninth edition and was a hit among the youngsters. It is a creator-focused event that celebrates the best of illustration and comic art regardless of language and cultural barriers and is organised by Malaysia's longest-running anime, comics and games (ACG) event, Comic Fiesta. While it highlights the best of Malaysian artists, it also serves as a platform for international artists to break through this market as well as share their experiences. Advice from Professional During last year's edition, CAFKL featured digital-first content company The Woke Salaryman for its digital art demo, meet and greet session, as well as book panel. However, for this year, Comic Fiesta has partnered The Japan Foundation, KL (JFKL) and NPO Asia Manga Summit Japan to bring veteran mangaka (a manga artist) Kurata Yoshimi back to CAFKL's stage. He is the artist of Japanese cooking manga Aji Ichimonme which began its serialisation in 1987 and is still ongoing until today. During his panel, 'Storytelling in Comics', Kurata advised aspiring comic artists to think about what they want to give birth to and what they want to put out in the world, in order to achieve their own distinct and identifiable art style. While using trends is a good way to set a reference because you understand the market better and gain a clearer perspective of the world, Kurata believes that it is better if an artist can inject their own unique style. And by 'style', he also included the artist's own unique perspective. One of the unique creative processes he shared was by using folded paper to create a background for his story. Then he would place a model or a toy which would be used as a reference for his characters. Starting out is always difficult. So how does one seek inspiration and motivation? Kurata suggested thinking about what one personally finds to be an interesting story. It does not matter whether it is a fun story or a sad story, what matters is that you cher- ish the story a lot. However, those who plan to create a long serial comic would need to be mindful and pay attention to other people's stories. For instance, Kurata travels to different parts of the world and observes how these chefs prepare and cook their dishes. He also considers the backstory of these chefs and how it influences them to cook these dishes, and these are the inspirations of storytelling for Aji Ichimonme. Kurata also highlights the importance of daydreaming as a quality for creators. By dreaming and fantasising about your 'what if' moments in your day-do-day life, you may be able to think of ways to use those moments to create stories. For example, an artist can start by imagining they are a professional footballer. They can then start developing more ideas and creative expressions based on that initial thought. Apart from Kurata, JFKL and NPO Asia Manga Summit Japan also brought in the artist behind the Obey Me! Manga, Nitou Subaru, and Mag Garden Corp Kansai Divi- sion editor-in-chief Goto Ryosuke. Comic Fiesta also partnered Singaporean independent comic publisher to bring its creators Claire Low (Tiger Girls), Shreya Davis (To the Last Gram), as well as Malaysian artist Nadhir Nor (Afterlife: The Boy Next Realm). Meanwhile, renowned local talents who made an appearance were Kael Ngu, Jason Chan and Kadokawa Gempak Starz English editorial chief editor Fey. Nurul Hasanah notes that each exhibitor in CAFKL had their own distinctive style Focus on Original Art Malaysia has many ACG events, but CAFKL stands out with its focus on original character (OC) designs, as opposed to promoting fanarts. The festival featured a total of 300 artists as well 227 doujin booths, both from Malaysia and internationally. Hailing from Indonesia's biggest technology centre full-time artist Nurul Hasanah decided to make her way into the Malaysian market last year by boothing during Comic Fiesta 2024 which was held at KL Convention Centre (KLCC). This time, she decided to try out her luck at CAFKL. 'When I found out about CAFKL, I think it's a really good market for OC artists that make original art. So, I really want to give it a try,' she told The Malaysian Reserve (TMR). Nurul Hasanah, who is known by her artist name, Nuy, noted that each exhibitor in CAFKL had their own distinctive style. She found it to be very inspiring and considered it a great experience as she was able to discover art styles that were different from what she had seen back in her homeland. Nurul Hasanah also felt that the local art in Malaysia boosted her confidence in the path she had taken with her own art. Her artist's creative process stems Bandung, from her everyday life experience, but she prefers to express it symbolically. 'For example, when I'm angry, I don't draw girls being angry, but I draw girls being surrounded with the colour red just for the symbolism,' she said. Nurul Hasanah added that before joining CAFKL, she primar- ily drew cuter subjects that aligned with market demands. But afterwards, she realised that she could focus on creating what she enjoyed, such as the 'sad-girl' themes. While participating in art events in both Malaysia and Indonesia, she noticed a similar struggle that artists in these two countries faced, which is marketing their artworks. They may be motivated to create new artwork, but struggle in terms of promoting or selling it. Nurul Hasanah admitted that she faced the same dilemma. 'You just need to be confident. Because for me, I just tried to apply here (to join CAFKL) and I got accepted. So we're just going try to do what we want to do.' Everyone comes here for original artworks and I can get some commission, says Law For part-time illustrator Law Kah Weng, this was his second time joining CAFKL. He was interested in opening a booth there as he heard that the festival was more focused on showcasing OCs and original works. 'Everyone comes here for original (artworks) and I can get some commission works,' he told TMR. Law works full-time for a printing company, but in the art realm he is known as Tangyi. His work encompasses young cute girls drawn in shojo–anime style but with a Victorian twist. 'I create my original characters and design their costumes for each of them,' he said. Each character is inspired by a personal story or experience from his life. Law joined CAFKL last year and he observed that the crowd this time was larger. He also noticed that the demand was inclined towards cute and pastel-coloured artworks. One of the most meaningful interactions with his customers was being able to explain the process and story behind his artworks. Finally, he encouraged artists who are more interested in creating OCs rather than producing fanart to consider joining CAFKL. Comic Worm is a bonding activity where each participant draws one page to form a story Fun Activities For those who did not have booths and were not involved with the panel or demonstration sessions, CAFKL had activities where you could showcase your amazing drawing skills and creative ideas. Even those who had never drawn a stick figure before also took part in these activities, just for the fun of it. Its hit activities, Comic-on-the-Spot and Comic Worm, returned in this edition, ready to awaken young and new talents. Comic-on-the-Spot required participants to create their own comic based on a given script and the best part was that they could use their own character. Comics that had been completed were then put on display. Meanwhile, Comic Worm was a kind of bonding activity among different participants where each one needed to create one page to form a story. There was also the Speedpainter Showdown where you could have a go and challenge other people. Whoever completed their drawing first won. At 5pm on both days, CAFKL held a live drawing session, with Saturday's session featuring Guru Ammir and Guru Muda Azhan from Tradisi Fitnest, and Mervyn of Mix-Fit Gym on Sunday's session. Participants were gathered in a circle around the models and drew them as they posed in different positions. This article first appeared in The Malaysian Reserve weekly print edition
Business Wire
6 days ago
- Business
- Business Wire
CACI President and CEO John Mengucci Named ‘Executive of the Year' by ACG National Capital
RESTON, Va.--(BUSINESS WIRE)--CACI International Inc (NYSE: CACI) announced today that its President and Chief Executive Officer, John Mengucci, was named Public Company Executive of the Year by the Association of Corporate Growth (ACG) National Capital chapter. Mengucci was recognized as an industry leader and the chief architect of CACI's unrivaled market-aligned business strategy designed to propel the company's growth, and drive both innovation and differentiation. The recognition was awarded at a gala on June 5, 2025, in McLean, Virginia, and is based on his career achievements and growth results in calendar year 2024. 'I am deeply humbled to receive this prestigious industry recognition,' said Mengucci. 'This award is a direct result of our vision to transform CACI into a mission-focused, expertise and technology company—one that invests ahead of our customers' needs and embeds an outcome-based mindset into everything we do for the federal government.' Under Mengucci's leadership, CACI achieved calendar year 2024 results of $8.1 billion in revenues, and double-digit revenue growth of more than 14% at year end. The company also delivered strong profitability and drove excellent shareholder value. 'I am extremely proud of our differentiation path, which has led us to success while remaining true to our core values of character, innovation, and excellence in all we do. While our legacy spans more than 63 years, we are just getting started. Our extraordinary workforce of 25,000 resilient and dedicated employees will continue to push boundaries, solve complex challenges, and deliver unparalleled mission outcomes for our customers for years to come,' said Mengucci. This year's ACG awards recognized companies based in the Washington D.C. region for excellence and outstanding achievements in calendar year 2024. The Corporate Growth Awards annually honor companies and deals that have built corporate value through mergers and acquisitions, strategic partnerships, organic growth, and capital financing. About CACI At CACI International Inc (NYSE: CACI), our 25,000 talented and dynamic employees are ever vigilant in delivering distinctive expertise and differentiated technology to meet our customers' greatest challenges in national security. We are a company of good character, relentless innovation, and long-standing excellence. Our culture drives our success and earns us recognition as a Fortune World's Most Admired Company. CACI is a member of the Fortune 500™ list of largest companies, the Russell 1000 Index, and the S&P MidCap 400 Index. For more information, visit us at There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the risk factors set forth in CACI's Annual Report on Form 10-K for the fiscal year ended June 30, 2024, and other such filings that CACI makes with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof.
