Asia Capital PLC, along with its majority owner Dato Vijay Eswaran, has categorically denied recent claims circulating on social media that MAC Holdings has made a formal offer to acquire a majority stake in the company. In a statement issued, the company emphasized that no formal offer has been received, refuting what it called “unsubstantiated claims” that have misled the public. “This assertion, supposedly based on ‘reliable sources,’ is inaccurate and potentially harmful to the reputation of both Asia Capital PLC and its stakeholders,” the statement read. Contrary to rumors suggesting financial distress or plans for divestment, Eswaran reaffirmed his confidence in Sri Lanka’s economic prospects, particularly under the leadership of the current Government. “This optimism is backed by tangible actions,” the statement continued. “Dato Vijay has demonstrated his unwavering confidence in Sri Lanka’s resilience and potential by personally investing $3 million into the local economy following the challenges posed by the COVID-19 pandemic. Such investments are clear indicators of his long-term commitment to fostering economic growth and revitalization in Sri Lanka.” Eswaran’s connection to Sri Lanka was further highlighted as going beyond business interests. “Having deep familial ties to the island nation, he has consistently shown a strong affinity for its culture, people, and opportunities. These connections have not only fueled his continued investment in the country but also strengthened his resolve to contribute to Sri Lanka’s development over the years to come. Dato Vijay has emphasized that his engagement with Sri Lanka is a long-term endeavor, and he is fully committed to exploring further opportunities to enhance his footprint in the country’s growing economy,” the statement said. Asia Capital PLC also underlined its position as a resilient and forward-thinking enterprise, particularly within the hospitality sector. “The company remains steadfast in its operations, navigating challenges effectively while maintaining its commitment to delivering exceptional services. The allegations of financial difficulties and disputes cited in the article are exaggerated and fail to acknowledge Asia Capital PLC’s strategic initiatives to sustain and expand its business,” the statement added. Asia Capital PLC and its leadership reiterated their focus on contributing to Sri Lanka’s economy while firmly dismissing any claims of current negotiations with MAC Holdings. Photo Caption - Vijay EaswaranNoneStock Market Symbols GIB (NYSE) GIB.A ( TSX ) cgi.com/newsroom Merger strengthens CGI's position with Fortune 500 clients in St. Louis , Atlanta , Minneapolis , Chicago , Columbus , Dallas and New York ST. LOUIS, Mo. , Dec. 11, 2024 /PRNewswire/ - CGI (NYSE: GIB ) (TSX: GIB.A) today announced the signature of an equity purchase agreement to merge operations with Daugherty, a St. Louis -based professional services firm specializing in artificial intelligence, data analytics, strategic IT consulting, and business advisory services for Fortune 500 clients in the financial services, healthcare, communications, retail and manufacturing sectors. The merger of operations brings more than 1,100 talented consultants to CGI, further strengthening the company's presence in multiple key U.S. growth markets, including St. Louis , Atlanta , Minneapolis , Chicago , Columbus , Dallas and New York . The parties entered into a purchase agreement on November 29, 2024 , and the transaction is expected to close in December 2024 , subject to regulatory approval and other customary closing conditions. For 39 years, Daugherty has been committed to driving innovation, growth and customer satisfaction while making a positive difference in the community. For CGI, the merger with Daugherty establishes significant combined geographic presence in targeted U.S. markets, deepens industry expertise and enhances strategic advisory services with offerings around digital engagement, technology modernization, cloud transformation, and FinOps and sustainability. The merger with CGI enables Daugherty clients to retain local relationships and expertise while gaining access to CGI's global capabilities, network of delivery centers, and breadth of end-to-end services and solutions. Daugherty has consistently been named as the Largest IT Consulting Firm by the St. Louis Business Journal along with several top workplace recognitions across its metro markets and a 'top five in the nation' distinction in 2024 for the Top Workplaces USA . "At the heart of our strategic vision is a dual commitment: to our clients and our teammates," said Ron Daugherty , Daugherty President and CEO. "We're forging a path with CGI that expands global capabilities, creates meaningful professional opportunities, and amplifies our collective potential to drive innovation and positive change in our communities." Giving back to the communities in which CGI and Daugherty live and work is also a shared commitment, as evidenced by CGI's commitment to support of The Daugherty Foundation which will provide access to education, mentorship and career opportunities for young people and underrepresented groups in technology. "The combined strength of Daugherty and CGI creates additional value for clients through deep industry insight and technology expertise, with a strong commitment and proven history of delivering trusted business outcomes," said Vijay Srinivasan , CGI President of U.S. Commercial and State Government operations. "CGI and Daugherty are a great cultural fit as both companies share a strong commitment to their people and communities, a dedication to management fundamentals and a passion for excellence in execution for clients." In the U.S., CGI has operations across 80 offices which are organized through a metro market proximity model and supported by the depth of the company's international presence, range of services, and insights to deliver value locally. About CGI Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,250 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2024 reported revenue is $14.68 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com . SOURCE CGI Inc.
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During the inauguration of Arabic Artificial Intelligence Large Language Model (LLM) “Fanar” at the opening of the two-day World Summit AI, HE the Minister of Communications and Information Technology Mohammed bin Ali al-Mannai said that this project represents a remarkable achievement that reflects Qatar’s commitment to enhancing the presence of the Arabic language and the Arabic and Islamic culture in the AI age, indicating that it comes as a result of fruitful co-operation between the Ministry of Communications and Information Technology and Hamad Bin Khalifa University, a member of Qatar Foundation for Education, Science and Community Development. Marking the occasion, HE al-Mannai said: “The Fanar project exemplifies Qatar’s commitment to supporting research projects and transforming them into strategic governmental initiatives that position Qatar as a leader in artificial intelligence and modern technologies. Fanar is not merely a digital project, but a comprehensive vision aimed at creating a global impact. It is an ambitious initiative that seeks to empower the Arab community with advanced tools that respect our cultural identity and contribute to achieving the Qatar National Vision 2030. In this context, I extend my gratitude to Qatar Foundation and the Qatar Computing Research Institute for their outstanding efforts in developing this ambitious project.” For his part, President of Hamad Bin Khalifa University Dr Ahmad Hasnah emphasised the significance of the project, saying: “In line with Qatar National Vision 2030, Fanar is a further reflection of our university’s commitment to developing responses to challenges of national and global relevance which enhance the country’s prowess in the field of AI and related technologies based on the Arabic language. This can only be achieved by actively leveraging synergies with renowned partners like MCIT to facilitate expertise and build capacity in Qatar and the region.” Fanar is a groundbreaking model developed to achieve an in-depth understanding of Arabic in all its dimensions, encompassing diverse dialects and cultural expressions. It is built on an extensive database of more than 300bn words and over a trillion Arabic phonetic segments, enabling creative ability to generate, write, summarise, rephrase, or explain texts with exceptional efficiency. With an advanced technical architecture comprising 7bn parameters, it ensures flexible and rapid data processing. The Fanar project marks a pivotal step in the advancement of modern Arabic technologies. The project began as an integrated research initiative within the Qatar Computing Research Institute and was later adopted and supported by the Ministry of Communications and Information Technology. The project aims to equip Qatari and Arab communities with cutting-edge AI tools tailored to their specific needs, aligning with the National AI Strategy and the Digital Agenda 2030, which prioritise digital innovation as the cornerstone of building a thriving digital economy. Fanar aspires to establish a unique partnership with Arab users through its experimental version, allowing them to provide feedback and recommendations, making them integral to the development of future versions. This collaboration is a critical step toward creating a digital Arab society rooted in innovation and sustainable development. It aims to strengthen its partner network at both the Arab and regional levels to ensure the Arabic language thrives in the global digital future. This initiative is expected to inspire further innovations in education, media, and technology. Five key contributors from national institutions, including the Ministry of Endowments (Awqaf) and Islamic Affairs; Qatar National Library, which is based at Qatar Foundation’s Education City; Al Jazeera Channel; the Arab Center for Research and Policy Studies; and Qatar University continuously enrich Fanar’s database with new information. The project also plans to expand its partner network regionally and globally. Related Story Arabic Book Club offers insight on publications about Gaza
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