Bank of America Enters into a Joint Venture Agreement with Jio Financial Services Limited to Acquire up to 49.9% in Jio Credit Limited

Key points

• Bank of America’s investment, including the equity shares and warrants (if fully subscribed), would be ₹18,268 crore (~$1.9 billion USD^[1]).   
• Jio Credit receives further capital to support its growth in India and expertise of a global financial services firm. 
• The investment supports Bank of America’s commitment to its global franchise with a strong local partner in India.

MUMBAI, India and NEW YORK, Aug. 12, 2026 /PRNewswire/ — Jio Financial Services Limited (JFSL) and Bank of America Corporation (BofA) today announced that they have signed a definitive agreement whereby BofA will acquire up to a total of 49.9% interest as a joint venture partner in JFSL’s wholly-owned NBFC (non-bank financial company) lending subsidiary, Jio Credit Limited (JCL) through a preferential allotment of equity shares and warrants.

The venture will combine JFSL’s digital reach and knowledge of the Indian market with BofA’s global financial services expertise. Both companies share the common vision of improving clients’ financial lives through state-of-the-art digital access, innovation, access to credit and strong risk management.

JCL is among India’s fastest growing NBFCs, having built assets under management (AUM) of ₹30,667 crore (~$3.2 billion USD) as of June 30, 2026, within just two years of operations. The digital-first lender is focused on bridging the gap between traditional finance and modern accessibility through its diverse suite of lending products, with ambitions to responsibly continue its growth trajectory by providing borrowing opportunities across existing and new products within India.      

The investment will allow BofA to expand its participation in the rapidly growing Indian market, the world’s fastest growing major economy at double the global growth rate, while doing so with a partner that has local expertise and differentiated capabilities.

As India’s financial sector expands alongside the nation’s robust economic growth, the partnership positions the venture to capitalize on emerging growth opportunities in the industry. Beyond securing long-term capital for sustainable loan growth, the collaboration provides the venture with access to BofA’s expertise related to financial services, governance, risk management, and technology.

The investment of up to ₹18,268 crore (~$1.9 billion USD), will be made through a preferential allotment of equity shares and warrants. The transaction initially gives Bank of America a 26.5% equity interest in JCL, which can go up to 49.9% upon exercise of the warrants. The transaction is subject to regulatory and statutory approvals.  

Pursuant to the transaction, JCL’s Board of Directors will have equal representation from both JFSL and BofA. The existing management team of JCL will continue driving the strategy and operations at the NBFC and JCL will continue to be consolidated as a subsidiary in JFSL’s financial reporting.

Commenting on the proposed partnership, Mukesh D. Ambani said: “Our country’s progress toward becoming Viksit Bharat by 2047 demands a financial ecosystem built on scale, trust, and inclusivity. Central to this journey is the democratization of responsible credit — characterised by lower costs for the customer, absolute transparency, and expanding access to capital as our economy grows.

Jio Financial Services is committed to making finance more seamless and simpler for Indians than ever before, leveraging new technology and anchored in the highest standards of governance. Our strategic partnership with Bank of America is a pivotal milestone in this mission. By combining our digital reach with Bank of America’s global pedigree, we will eliminate friction in credit delivery for all Indians, empowering them to chart a prosperous and inclusive path forward for the entire nation.”

Brian Moynihan, Chair and Chief Executive Officer, Bank of America said: “India is one of the world’s most important growth markets, and this investment reflects our confidence in its future, a market we know well and have supported for decades. We are excited to become a partner with Jio Financial Services, which has achieved remarkable scale in a short period of time, growing to more than $3 billion in assets under management in just two years.

By combining Jio Financial Services’ scale, local expertise and customer base with Bank of America’s global reach, digital experience and close to 250 years of leadership in banking, we can help expand access to financial services and support India’s continued economic growth.”

About Jio Credit Limited

Jio Credit Limited (JCL, formerly known as Jio Finance Limited), a wholly owned subsidiary of Jio Financial Services Limited, is a digital-native NBFC redefining India’s lending landscape. JCL bridges the gap between traditional finance and modern accessibility through a full spectrum of secured credit — from Retail assets like Mortgages and Loans Against Securities to Commercial and Supply Chain Finance. By anchoring its diverse portfolio in advanced risk frameworks, JCL delivers resilient, high-quality growth for both individuals and enterprises.

About Jio Financial Services Limited

Jio Financial Services Limited (JFSL) is a Core Investment Company (CIC) registered with the Reserve Bank of India. As a new-age institution, JFSL operates a full-stack financial services ecosystem through customer-facing subsidiaries, including Jio Credit Limited, Jio Insurance Broking Limited, Jio Payment Solutions Limited, Jio Leasing Services Limited, Jio Finance Platform and Service Limited, and Jio Payments Bank Limited.

Through a 50:50 joint venture with BlackRock, JFSL offers Mutual Funds and SIFs in India through Jio BlackRock Asset Management Private Limited; and wealth management through Jio BlackRock Investment Advisers Private Limited. The JV with BlackRock also proposes to offer broking services through Jio BlackRock Broking Private Limited.

JFSL has entered into 50:50 joint ventures with the Allianz Group, establishing Allianz Jio Reinsurance Limited for reinsurance services and Jio Allianz General Insurance Limited for general and health insurance in India. Additionally, they have signed a non-binding agreement to explore future opportunities in life insurance.

With a digital-first model, JFSL is committed to enhancing the financial well-being of Indian citizens by enabling them to borrow, transact, save, and invest seamlessly. Through the JioFinance app, customers can access a wide range of solutions including loans, savings accounts, investment products and solutions, UPI, bill payments, recharges, digital insurance, financial tracking and management tools, and more.

For more updates, please visit www.jfs.in | Follow JFSL on Instagram: @OfficialJioFinance | X: @JioFinance1 | Facebook: @JioFinance | LinkedIn: @Jio Financial Services Limited | To download the JioFinance app, click here 

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving more than 69 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Forward-looking statements

Bank of America

Certain statements contained in this news release may constitute “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the current expectations, plans or forecasts of Bank of America based on available information. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often use words like “expects,” “anticipates,” “believes,” “estimates,” “targets,” “intends,” “plans,” “predicts,” “goal” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.

Forward-looking statements represent Bank of America’s current expectations, plans or forecasts of its future results, revenues, expenses, dividends, efficiency ratio, capital measures, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of its future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any forward-looking statements due to a variety of factors. You should not place undue reliance on any forward-looking statement and should consider all of the precautionary statements, uncertainties and risks discussed in Bank of America’s filings with the Securities and Exchange Commission (SEC), including under Item 1A. “Risk Factors” of Bank of America’s Annual Report on Form 10-K for the year ended December 31, 2025, and in any of Bank of America’s other subsequent SEC filings.

Jio Financial Services Limited

This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, product development, market position, expenditures, and financial results, are forward-looking statements. Forward-looking statements are based on certain assumptions and expectations of future events. The companies referred to in this presentation cannot guarantee that these assumptions and expectations are accurate or will be realised. The actual results, performance or achievements, could thus differ materially from those projected in any such forward-looking statements. These companies assume no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. 

Reporters may contact

JFSL

Aveek Datta, Jio Financial Services Limited

aveek.datta@jfs.in

Shruti Singh, Jio Financial Services Limited

shruti.singh@jfs.in

Bank of America

Linus Chettiar, Bank of America

Phone: 91.98200.37765

linus.chettiar@bofa.com

Jocelyn Seidenfeld, Bank of America

Phone: 1.646.743.3356

jocelyn.seidenfeld@bofa.com

Footnotes

^[1] Assuming FX conversion rate of US$1 = INR 96

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Relativity Launches claiR, Giving Lawyers Conversational Command of the Full Depth of Their Legal Data

News Summary

• With Relativity claiR, lawyers can ask questions on the complete RelativityOne matter record in plain language and get grounded, cited, auditable answers, turning the platform legal teams already trust into an organization-wide intelligence advantage. 
• Lawyers gain new, streamlined access to the full power of Relativity’s AI platform, without complexity or a learning curve, empowering them to make sharper decisions, develop more effective strategies and strengthen their work product.
• Three of the world’s leading law firms, A&O Shearman, Foley & Lardner LLP and K&L Gates are the first to put claiR to work through Relativity’s Advanced Access program.
• This is the latest advancement in Relativity’s strategy of expanding RelativityOne to meet legal teams where and how they work, following its launches earlier this year of Relativity aiR for Case Strategy and aiR Assist, its planned move into Microsoft Word through the acquisition of Gavel, extending Model Context Protocol integrations, and investments in emerging legal tech innovators through its Rel Labs investment arm.

CHICAGO, Aug. 12, 2026 /PRNewswire/ — Relativity, a legal data intelligence company, today announced Relativity claiR, a conversational AI experience designed specifically for lawyers, providing a direct, intuitive and instant way to work with all the data at the center of their most critical matters without the complexity. claiR can empower lawyers and their teams to reach better-informed decisions sooner, where and how they work. And because the data stays in RelativityOne, it removes the time and increased risk that can come with moving sensitive data between systems.

“This isn’t lawyers learning their way around RelativityOne. It’s a fundamentally new way to get them straight to the answers in their most consequential legal data,” said Phil Saunders, CEO of Relativity. “Conversational AI is now how people everywhere expect to work, and with claiR, for the first time, the full richness of a matter’s data is directly in lawyers’ hands, rather than something they wait on technical legal data teams to surface. claiR draws on the full power of our industry-leading aiR suite and legal data intelligence platform, and on the record itself for high-stakes legal work that has to stand up in court, before boards and before regulators.”

Three of the world’s leading law firms, A&O Shearman, Foley & Lardner LLP and K&L Gates are among the first to participate in Advanced Access for claiR, a program that plays a key role in how Relativity shapes and refines solutions ahead of general availability planned for early 2027. Once generally available, claiR is expected to be included in RelativityOne integrated pricing at no additional cost.

Better-informed decisions, grounded in the full depth of data

Lawyers can now put the full power of RelativityOne to work in plain language, from the moment a matter opens. Relativity claiR reasons across the full scale of that matter: millions of documents, their metadata, and the connections between them. That foundation can empower lawyers to drive better outcomes, including earlier insight, sharper strategy and more confident decisions, whether the work is litigation, an investigation or a regulatory response.

“A&O Shearman’s commitment to innovation is longstanding—we brought RelativityOne in-house in 2017 and were one of the very earliest firm-wide adopters of generative AI in early 2023,” said Calum Burnett, Partner and Global Co-Head of Litigation & Investigations at A&O Shearman. “AI is now integral to how we work and we are excited to help shape Relativity’s new self-service solution for lawyers. It provides powerful, auditable AI analysis to help our lawyers in their day-to-day work, enhancing our ability to provide insightful and trusted strategic advice to our clients.”

“What’s most useful about claiR is that it lets our lawyers get to the facts faster and identify issues sooner so we can deliver more timely strategic counsel to our clients,” said David Simon, Foley & Lardner LLP litigation partner and member of the firm’s AI Steering Committee. “This tool allows us to work more efficiently. It’s a practical way to use conversational AI within our existing legal workflows to better serve clients and provide greater value.”

Defensible by design and decades of legal expertise

Built on each customer’s own matter data already stored and managed within RelativityOne, the experience grounds every answer and resulting associated work product in a complete, secure system of record shaped over decades of legal work. Most legal AI tools require organizations to move data into a separate environment before the AI can work on it. claiR brings the AI to the data instead. It reasons across everything, with the permissions, security and defensibility of RelativityOne intact.

“claiR doesn’t replace legal judgment, it gives lawyers more complete access to the facts and insights that judgment depends on,” said Chris Brown, President of Relativity. “When a lawyer asks a question in claiR, the answer draws on everything in the matter, at the scale at which legal work actually happens. Nothing is exported or sampled, the answer comes from the record itself, right where the data lives.”

Because the data never leaves RelativityOne, using claiR helps mitigate the exposure risk that can come with moving sensitive material into external tools, and every data point is transparent and auditable.

“This tool, when deployed to its full potential, will further revolutionize discovery for large, complex volumes of electronic data—leveraging a sophisticated framework of approved platforms, verified outputs and clear accountability,” said Julie Anne Halter, Seattle Office Managing Partner and Practice Group Coordinator for the firm’s e-Discovery Analysis & Technology practice at K&L Gates. “As an AI-forward firm, this type of innovation at scale supports our broader strategy to deploy advanced technology to our strategic clients’ advantage, pairing adoption with governance and finding efficiencies that accentuate our lawyers’ experience.”

By giving lawyers and the technical teams who support them one shared project and system of record, claiR can also strengthen the collaboration between them. Each side’s work can inform the other, and the whole team can reach decisions faster.

Part of a broader strategy to meet legal professionals where they work

claiR is the latest step in Relativity’s commitment to extending its platform to the surfaces where legal work already happens. Through Relativity’s previous launches this year of Relativity aiR for Case Strategy and aiR Assist, legal teams have compressed early case review from weeks to hours and can ask plain-language questions of their data and get back precise, cited answers in seconds. claiR builds on the foundation aiR Assist establishes and extends it, from indexed document sets to the full depth of a matter, in an experience designed specifically for lawyers.

With its acquisition of Gavel, the company plans to bring AI-native drafting and redlining into Microsoft Word, keeping more of a lawyer’s daily work connected to the data behind it and syncing edits back to RelativityOne to expand reusable knowledge. Through a growing set of integrations built on the Model Context Protocol, legal data and technology teams can handle administrative work, such as setting up matters, selecting workspace templates and managing access, from the AI assistants they already use, in plain language, while the substantive work runs in RelativityOne and the data stays governed.

And via Rel Labs, its innovation hub and investment arm, Relativity is backing legal technology innovators shaping what comes next. Recent investments include Courtroom, a platform that simulates real courtroom decision-makers, Patlytics, a purpose-built platform for intellectual property litigation teams, and Advocacy, an early-stage solution for litigators focused on case strategy, drafting and trial preparation.

Learn more about Relativity claiR and sign up to stay informed as development progresses here. Relativity will share additional announcements at RelFest Chicago taking place Sept. 29-Oct. 1.

About Relativity 

Relativity is a leading legal data intelligence company that builds technology to help users organize data, discover the truth, and act on it. Its extensible, AI cloud platform, RelativityOne, transforms complex data into actionable insights at massive scale for litigation, investigations, regulatory inquiries, data breach responses, and other legal use cases. The world’s largest law firms and corporations, government agencies, and a robust network of channel partners rely on Relativity’s legal AI software to securely surface and manage the most relevant and impactful information in their matters. The company also expands access to technology by providing its platform at no cost to academic institutions through its Relativity Academic program and to organizations supporting pro bono legal work through its Justice for Change initiative. 

CONTACT: PR@relativity.com

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GLOBAL SUPPLY CHAIN PRESSURES EASE IN JULY, BUT SHORTAGES PERSIST AHEAD OF RENEWED STRAIT OF HORMUZ DISRUPTION: GEP GLOBAL SUPPLY CHAIN VOLATILITY INDEX

• Demand for intermediate goods and raw materials stagnates in July as manufacturers reduced safety-stock building
• Supply shortages remained elevated, leaving production vulnerable to fresh geopolitical shocks
• Asia and North America continued to lead global manufacturing demand, while Europe continues to lag

CLARK, N.J., Aug. 12, 2026 /PRNewswire/ — GEP Global Supply Chain Volatility Index — a leading indicator tracking demand conditions, shortages, transportation costs, inventories and backlogs, based on a monthly survey of 27,000 businesses — showed global supply chain pressures eased in July as manufacturers reduced precautionary stockpiling and transportation pressures moderated. However, supply shortages remained elevated and production backlogs continued to build, indicating supply chains had yet to fully recover before the renewed disruption in the Strait of Hormuz.

The survey was mostly conducted before the latest escalation in the Middle East and renewed disruption to shipping through the Strait of Hormuz, providing a snapshot of global supply chains immediately before energy prices and geopolitical uncertainty increased again.

Manufacturers scaled back safety-stock building in July following a three-and-a-half-year peak in the second quarter of 2026, suggesting businesses believed supply risks were beginning to ease. Transportation costs also moderated, helping drive the overall improvement in global supply chain conditions.

Despite the easing, reports of critical items in short supply remained elevated globally, while manufacturers continued reporting rising production backlogs caused by missing materials and components. This indicates supply bottlenecks remain unresolved and could worsen if geopolitical tensions persist.

Demand for raw materials and commodities remained strongest across Asia and North America, where manufacturers continued purchasing inputs at a significantly faster pace than other major regions. Europe, by contrast, remained comparatively subdued, reflecting weaker manufacturing order books and lower inventory building.

Interpreting the data:

Index > 0, supply chain capacity is being stretched. The further above 0, the more stretched supply chains are.

Index < 0, supply chain capacity is being underutilized. The further below 0, the more underutilized supply chains are.

JULY 2026 REGIONAL KEY FINDINGS

• ASIA: Index decreased to 1.37, from 1.95, its lowest reading since March. Asian factory purchasing activity slowed sharply in July, driven by China.
  
  
  
  
• NORTH AMERICA: Index fell to 0.76, from 1.17, pointing to a further easing of supply chain pressures faced by North American manufacturers.
  
  
  
  
• EUROPE: Index declines to 0.68, from 1.13, its lowest level since March. Demand for manufacturing inputs shrank further, indicating factory retrenchment across the continent.
  
  
  
  
• U.K.: Sharp reduction in the index to 0.30, from 1.05 as U.K. manufacturers rapidly reduced their procurement activity and ran down their stocks aggressively.

JULY 2026 KEY FINDINGS

• DEMAND: July data indicated a slowdown in factory purchasing volumes. The index’s demand component was its weakest in the year-to-date, driven principally by China and, to a lesser extent, the U.S. The data suggest that the stockpiling-driven boost to demand has faded at the start of the third quarter.
  
  
  
  
• INVENTORIES: Reports of global manufacturers stockpiling raw materials and intermediate products due to price or supply concerns fell for the first time since January, indicating that procurement leaders ran down the inventories they had built up since the Middle East war began.
  
  
  
  
• MATERIAL SHORTAGES: The items in short supply indicator fell only fractionally in July, indicating a limited improvement in the availability of critical manufacturing inputs. Overall, supply shortages remained high by historical standards.    
  
  
  
  
• LABOR SHORTAGES: Manufacturers’ reports of backlogs rising due to staff shortages remained anchored, signaling that labor was not a hindrance to capacity utilization during July.
  
  
  
  
• TRANSPORTATION: The global transportation cost indicator fell again in July, reaching its lowest level since March. That said, data were principally collected prior to global oil prices surging towards the tail-end of the month.  

For more information, visit www.gep.com/volatility.

Note: Full historical data dating back to January 2005 is available for subscription. Please contact economics@spglobal.com.

The next release of the GEP Global Supply Chain Volatility Index will be 8 a.m. ET, Sep. 11, 2026.

About the GEP Global Supply Chain Volatility Index

The GEP Global Supply Chain Volatility Index is produced by S&P Global and GEP. It is derived from S&P Global’s PMI^® surveys, sent to companies in over 40 countries, totaling around 27,000 companies. The headline figure is a weighted sum of six sub-indices derived from PMI data, PMI Comments Trackers and PMI Commodity Price & Supply Indicators compiled by S&P Global.

• A value above 0 indicates that supply chain capacity is being stretched and supply chain volatility is increasing. The further above 0, the greater the extent to which capacity is being stretched.
  
  
  
  
• A value below 0 indicates that supply chain capacity is being underutilized, reducing supply chain volatility. The further below 0, the greater the extent to which capacity is being underutilized.

A Supply Chain Volatility Index is also published at a regional level for Europe, Asia, North America and the U.K. For more information about the methodology, click here.

Media Contacts

Derek Creevey

Director, Public Relations

GEP

Phone: +1 646-276-4579

Email: derek.creevey@gep.com

Joe Hayes

Senior Principal Economist

S&P Global Market Intelligence

Phone: +44-1344-328-099

Email: joe.hayes@spglobal.com

S&P Global Market Intelligence

Corporate Communications

Email: Press.mi@spglobal.com

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Londian Wason Raises $94.3 Million Ahead of Trading Debut: NYSE Content Update

NYSE issues a pre-market daily advisory direct from the trading floor.

NEW YORK, Aug. 12, 2026 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins. 

Kristen Scholer delivers the pre-market update on August 12th

• Londian Wason prepares to begin trading on NYSE today.
  • The Chinese-based electrolytic copper foil developer priced its American Depositary Shares at $22 apiece, the top end of its expected range.
  • The deal gives Londian Wason (NYSE: FOIL) a valuation above $1.7 billion.
• SunScout will make its debut on NYSE American during today’s trading session.
  • The solar-powered robotic mower developer priced 3.1 million shares at $5 each.
  • SunScout’s (NYSE: SNSC) market capitalization reaches $115.5 million.
• Kickstarter CEO Everette Taylor will join NYSE Live.
  • Taylor will discuss the company’s new $1 million culture fund.
  • Supports independent creators working across art, fashion, and film.
• Investors digest the July Consumer Price Index ahead of market open.
  • Economists expected to see the headline figure increase by 3.4% year-over-year, and anticipated Core CPI to rise by 2.5%.
  • Monthly report tracks changes in prices paid by U.S. consumers.

Opening Bell

Londian Wason (NYSE: FOIL) celebrates its IPO

Closing Bell

Jefferies (NYSE: JEF) celebrates its annual Office of the CFO Summit

For market insights, IPO activity, and today’s opening bell, download the NYSE TV App and check out the NYSE YouTube: TV.NYSE.com and YouTube.com/@NYSEofficial

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DXC Powers the Next Era of Work with DXC Workplace Services

• DXC Workplace Services helps organizations improve employee productivity and experience without adding new tools or operational complexity.
• The offering combines DXC’s deep domain expertise with agentic AI capabilities to anticipate employee technology needs, reducing productivity disruptions, and accelerating issue resolution.
• Enabled by DXC OASIS, Workplace Services helps customers maximize existing technology investments and deliver measurable business outcomes, including 40% reduction in operational complexity, 60% fewer service desk calls, and 15+ hours of productivity returned to every employee each month.

ASHBURN, Va., Aug. 12, 2026 /PRNewswire/ — DXC Technology (NYSE: DXC), a leading enterprise technology and innovation partner, today announced DXC Workplace Services, a new people-centered, AI-native workplace offering that reimagines the digital workplace around employee outcomes rather than technology. The offering helps organizations improve productivity, strengthen employee experience, and optimize IT operations that maximize existing technology investments without adding more tools. DXC Workplace Services is enabled by DXC OASIS, the intelligent orchestration platform that transforms managed services through Human+ agentic AI workflows, delivering people-first agentic operations that anticipate employee needs and drive proactive outcomes.

Employees assess workplace technology by their experience and ability to get work done efficiently. Yet many organizations continue to operate fragmented tools, disconnected workflows, and reactive support models that create friction for employees and complexity for IT teams. DXC Workplace Services helps address these challenges by leveraging an experience-led, productivity focused, and AI powered workplace journey approach that helps customers achieve their business outcomes without compromising experience.

DXC Workplace Services applies experience design principles from the outset, helping ensure the workplace solution is intuitive, easier to use, and aligned to established ways of working. The new agentic support experience delivers proactive, intelligent IT support that meets employees where they are and lays the foundation for a better-connected workplace. With Workplace Services, agents and DXC experts deliver support through individual employees’ preferred contact channel —email, chat, or voice— guiding employees and completing tasks for employees for faster, smarter, and easier support. This new people-first support model can help resolve IT issues before they disrupt work, enabling technology to operate more seamlessly in the background while employees stay focused on getting work done.

“Enterprises should not have to choose between advancing business priorities, improving IT efficiency, and delivering a stronger employee experience. We designed DXC Workplace Services to help organizations achieve these objectives simultaneously by aligning workplace experiences to how employees work, reducing friction both within and across employees’ workplace environment to facilitate a seamless, wholistic experience,” said Kelly Candler, Global Offering Lead, Workplace & Business Process Services, DXC Technology.

DXC Workplace Services is built on three core principles to create a holistic workplace experience:

1. Designed around people — Experiences aligned to established employee workflows to reduce friction and support adoption from the outset.
2. Orchestrated across existing investments — A connected workplace environment that helps customers enhance the capabilities of the platforms, devices and services already in place.
3. Powered by Human+ agentic AI — AI, automation, and DXC expertise working together to anticipate employee needs, reduce disruptions, and continuously improve workplace performance.

Together, this approach helps drive measurable business outcomes:

• 40% reduction in operational complexity
• 60% fewer service desk calls
• 50% of device issues resolved before employees notice
• 15+ hours of productivity returned to every employee each month

DXC OASIS is the intelligent orchestration platform that transforms how managed services are delivered through Human+ agentic AI workflows. By seamlessly integrating human expertise with governed AI agents, DXC OASIS enables organizations to anticipate needs, automate complex operations, and deliver proactive outcomes at scale. DXC Workplace Services leverages DXC OASIS’s agentic AI workflows to orchestrate the employee workplace across existing technology investments and deliver intelligent, people-centered workplace operations. This platform-driven approach empowers DXC and its customers to reimagine managed services—replacing reactive, siloed capabilities with coordinated workflows that drive measurable improvements in employee experience, operational efficiency, and business outcomes. Learn more at www.dxc.com/workplace.

About DXC Technology

DXC Technology (NYSE: DXC) is a leading enterprise technology and innovation partner delivering software, services and solutions to global enterprises and public sector organizations, helping them harness AI to drive outcomes at a time of exponential change with speed. With deep expertise in Managed Infrastructure Services, Application Modernization and Industry-Specific Software Solutions, DXC modernizes, secures and operates some of the world’s most complex technology estates. Learn more at dxc.com.

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XCOM RAN by Globalstar Receives Frost & Sullivan’s 2026 Global Enabling Technology Leadership Recognition for Private 5G Network Innovation

XCOM RAN by Globalstar is recognized for its innovative approach to next generation, private 5G deployment with end-to-end, high-performance connectivity enabling the next generation of physical AI and industrial automation at scale

SAN ANTONIO, Aug. 12, 2026 /PRNewswire/ — As enterprises accelerate the adoption of AI, automation, and other Industry 4.0 technologies, the need for wireless infrastructure that can deliver pervasive, reliable and deterministic connectivity without adding operational complexity has never been greater. XCOM RAN by Globalstar is addresses this challenge through its next-generation private 5G platform, which rethinks conventional network architecture to enable superior connectivity for mobile robotics, connected workers and autonomous operations. As a result, Frost & Sullivan has awarded XCOM RAN the 2026 Global Enabling Technology Leadership Recognition in the Private 5G Network industry.

Each year, Frost & Sullivan presents the Enabling Technology Leadership Recognition to a company that demonstrates outstanding strategy development and implementation, resulting in measurable improvements in market share, customer satisfaction, and competitive positioning. The recognition honors forward-thinking organizations that are reshaping their industries through innovation and growth excellence.

XCOM RAN stands out for its ability to simplify the deployment and management of private 5G networks while supporting demanding enterprise applications. Its software-defined Supercell architecture enables multiple radio nodes to operate as a unified cell, eliminating traditional handover boundaries and reducing the complexity associated with conventional multi-cell deployments. From a deployment perspective, the Supercell model significantly reduces RF planning and site survey requirements by turning overlapping coverage from a liability into a feature, providing built-in redundancy and resilience without adding complexity.

This architecture, combined with an end-to-end private 5G stack and flexible spectrum options, positions XCOM RAN as ideal for meeting the evolving connectivity requirements of manufacturing, logistics, energy, ports, and other mission-critical environments.

“XCOM RAN’s design philosophy accelerates deployment timelines and supports scaling, demonstrating XCOM RAN’s ability to translate deep technical innovation into practical, enterprise-ready solutions. Their platform addresses congested environments, compatibility issues, cybersecurity threats and the critical need for efficiency,” said Troy M. Morley, Industry Principal at Frost & Sullivan.

Globalstar has strengthened XCOM RAN through its architectural innovation, end-to-end platform integration, and spectrum flexibility. The solution incorporates the XCOM Radio Series, XCOM Core, XCOM Orchestrator, and XCOM Industrial Router, providing enterprises with a cohesive private 5G ecosystem spanning radio access, core networking, management, and device connectivity.

“XCOM RAN combines technical innovation with a practical understanding of enterprise networking deployment requirements,” said Tamer Kadous, General Manager, XCOM RAN Business Unit at Globalstar. “Through our Supercell architecture, integrated private 5G platform, and spectrum-led strategy, we are reshaping how organizations deploy and scale mission-critical wireless connectivity to achieve significant gains through physical AI and industrial automation that power intelligent machines and AI-driven operations.”

Globalstar further differentiates XCOM RAN through its spectrum strategy, supporting the shared spectrum band n48 in the United States, locally licensed band n78 in Europe and Asia, and Globalstar’s exclusively licensed band n53 in more than 13 countries. By combining spectrum, infrastructure, and devices within a turnkey private 5G solution, XCOM RAN helps reduce procurement complexity.

Frost & Sullivan Best Practices Recognition

Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in- class organizations that are driving transformative growth and setting new industry standards.

Contact us: Start the discussion.

About XCOM RAN

XCOM RAN by Globalstar is the next generation of private 5G infrastructure, designed to support tomorrow’s mission-critical industrial automation requirements. XCOM RAN delivers unprecedented performance by taking a new approach to private 5G, increasing capacity by 4x over current private 5G offerings for flawless connectivity in the densest automation environments.

XCOM RAN runs on private 5G shared spectrum allocated around the world, and it can also uniquely leverage Globalstar’s licensed Band n53 as a dedicated band for worry-free private 5G deployments. Its new Supercell architecture reduces the need for site surveys and RF network design, for a private 5G solution that deploys quickly, is easy to manage, and provides full capacity and coverage in industrial environments.

To learn more, visit: www.xcomran.com

Media contacts:

Ashley Shreve

E: ashley.weinkauf@frost.com 

‍‍Janet Brumfield, IdealPR+ for XCOM RAN

janet@idealprplus.com

+1614-582-9636

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LTP Makes Strategic Investment in Digital Prime Technologies to Accelerate Global Expansion of Tokenet Across Asia-Pacific

LTP joins EquiLend, Galaxy Digital, and Marex in building the institutional infrastructure powering 24/7 digital asset lending worldwide

JERSEY CITY, N.J., Aug. 12, 2026 /PRNewswire/ — Digital Prime Technologies, the institutional technology provider transforming digital asset lending markets, today announced a strategic investment from LTP, a leading global institutional digital asset prime brokerage. The investment further strengthens the growing consortium of strategic partners, joining EquiLend, Galaxy Digital, and Marex in advancing the next generation of institutional digital asset lending infrastructure.

As part of the investment, LTP will serve as Digital Prime Technologies’ lead strategic partner across Asia-Pacific, helping expand institutional participation throughout one of the world’s fastest-growing digital asset markets. Tokenet, Digital Prime Technologies’ institutional digital asset and tokenized asset lending platform, will benefit from access to LTP’s network of borrowers, lenders, liquidity providers, and market participants.

Together, EquiLend, Galaxy Digital, Marex, and LTP represent a powerful consortium of complementary market leaders spanning traditional financial infrastructure, institutional digital asset liquidity, global market access, and prime brokerage. Their combined expertise positions Tokenet to become the industry’s premier marketplace for institutional digital asset lending, capable of supporting secure, compliant, and capital-efficient lending activity across every major financial region and time zone.

As institutional adoption accelerates globally, the partnership reflects a shared vision of enabling continuous, around-the-clock lending markets where institutions can seamlessly source liquidity and execute transactions 24 hours a day, seven days a week.

“As Tokenet’s global network continues to grow, adding a premier institutional prime brokerage with deep roots across Asia represents another important milestone. Bringing together complementary market leaders creates a stronger global ecosystem capable of supporting the evolving needs of institutional digital asset lending,” said James Runnels, Chief Executive Officer of Digital Prime Technologies.

“LTP’s extensive institutional client network, prime brokerage capabilities, execution infrastructure, and financing expertise will help accelerate Tokenet’s adoption among financial institutions seeking secure and familiar access to digital asset lending markets throughout Asia while strengthening connectivity between regional and global liquidity pools.”

Jack Yang, Founder and Chief Executive Officer of LTP, said:

“Institutional markets are becoming increasingly global, and digital asset lending must evolve beyond regional operating models. Tokenet provides the technology foundation needed to connect institutions through standardized, institutional-grade workflows while operating continuously across global markets. We are excited to join EquiLend, Galaxy Digital, and Marex as strategic investors and look forward to leading Tokenet’s expansion throughout Asia-Pacific.”

The strategic investment underscores Digital Prime Technologies’ commitment to building a truly global institutional marketplace where traditional financial institutions can access digital asset lending through familiar operating models, robust governance frameworks, and trusted market infrastructure. With strategic partners now spanning North America, Europe and Asia-Pacific, Tokenet is further strengthened as the industry-leading digital asset financing marketplace.

About Digital Prime Technologies

Through a multi-faceted product suite, Digital Prime Technologies enables its clients to quickly and easily deploy a full suite of digital asset solutions spanning execution, prime brokerage and lending. The digital assets sector is complicated and evolving rapidly, Digital Prime Technologies is built on TradFi principles and industry practices that are core to US regulated securities markets. Digital Prime Technologies’ offering allows broker-dealers and capital markets firms to transact in the digital asset space with robust and fully customizable services suited to their business and compliance needs.

About LTP

LTP is a global institutional prime broker, purpose-built to meet the evolving needs of digital asset market participants. By applying traditional financial standards to blockchain innovation, LTP provides end-to-end prime services spanning trade execution, clearing, settlement, custody, and financing. Its offerings further extend to institutional asset management, regulated OTC block trading, and compliant on/off-ramp solutions — delivering a secure and scalable foundation for institutions across the digital asset ecosystem.

The Group operates under a multi-jurisdictional regulatory framework, holding licenses and registrations in Hong Kong, Australia, the United Arab Emirates, and the British Virgin Islands, among other jurisdictions, enabling it to serve institutional clients globally on a compliant basis.

More details: https://www.liquiditytech.com

Media Contacts

Digital Prime Technologies, Inc.

press@digitalprimetechnologies.com

LTP

Monica Yuan, Head of Marketing & Partnerships

media@liquiditytech.com

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KPM Analytics Publishes Second Edition of The Baker’s Quality Assurance Handbook

The free digital 200+ page guide helps bakers and millers respond to wheat variability, rising costs, the loss of master baker expertise, and the arrival of AI in production. 

WESTBOROUGH, Mass., Aug. 12, 2026 /PRNewswire/ — KPM Analytics, a global leader in scientific instrumentation for food quality and safety, today announced the release of the Second Edition of The KPM Baker’s Quality Assurance Handbook: The Keys for Mastering Baking Process Control. The handbook is available now as a free digital download at https://kpm.is/bakers-handbook.

The Second Edition arrives at a difficult moment for the baking and milling industry. Extreme weather events and regional conflicts have increased variability in wheat quality, while inflation, tariffs, and trade barriers continue to raise the cost of raw materials and energy. At the same time, consumers have limited capacity to absorb higher prices. Bakeries are therefore under pressure to reduce waste, avoid production interruptions, and hold product quality steady using ingredients that change more often than they did in the past.

Two additional pressures shape the new edition. The first is a widening knowledge gap. Many master bakers are retiring or moving to other industries, and the practical expertise they used to correct a process when something went wrong is leaving with them. The second is the rapid arrival of AI-driven tools. These technologies improve consistency and quality in measurable ways, but many organizations are being asked to adopt them quickly, before their teams fully understand how the tools work or what the data means.

“Objective measurement is how a baking operation protects itself when the variables keep changing,” said Yuegang Zhao, Chief Commercial Officer at KPM Analytics and co-editor of the handbook. “When you can quantify what your flour, your dough, and your finished product are doing, you no longer depend on a single person’s experience to make the right decision. That knowledge belongs to the whole team, and it stays with the company.”

The handbook is organized into six parts covering technical fundamentals:

• A comprehensive technical overview objective analytical tools used in milling and baking processes today
• Raw material and ingredient quality control
• Production process control
• Product inspection and food safety
• Success stories from some of the world’s top baking and milling brands
• Guidance on working with technology suppliers.

Topics include water absorption, dough proofing analysis, moisture and compositional analysis by near-infrared spectroscopy, flour and dough rheology, and the use of vision inspection and AI systems for process control and foreign material detection. It is written as a working resource rather than a rigid manual, so bakers and millers can adapt the methods to operations of any size, whether they are building a first formal quality assurance program or improving one that already exists.

New to this edition is an expanded set of customer case studies, including Domino’s Pizza, Bay State Milling, Richardson Milling USA, Puratos, Europe Snacks, Emmi Desserts, Wooden Bakery, and La Toque Angevine, an LDC subsidiary. Each account describes a specific quality problem, the measurement approach used to address it, and the result on the production floor.

“The KPM Analytics’ Applications and Marketing teams put a great deal of work into this edition, and what they captured comes directly from years of working alongside our customers on the production floor,” says Zhao.

The KPM Baker’s Quality Assurance Handbook, Second Edition can be downloaded at no cost at https://kpm.is/bakers-handbook. (a $35.99 USD value).

About KPM Analytics

KPM Analytics is a global leader in scientific instrumentation, providing analytical and vision inspection solutions to laboratories and industrial operators in the food, feed, agriculture, industrial and environmental sectors. KPM products have a long history of helping companies secure product quality, optimize production processes, and make confident, data-driven decisions through reliable solutions, supported by dedicated application expertise and local service.  Visit https://www.kpmanalytics.com to learn more. 

Media contacts:

Andy Dambeck

Product Marketing Manager

+1 774-399-0477

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Mach Travel Solutions Ltd Q1 FY27 Revenue Jumps 538% YoY to ₹144.33 Crore

PAT rises 307% YoY as diversified growth strategy gains momentum

NEW DELHI, Aug. 12, 2026 /PRNewswire/ — Mach Travel Solutions Limited (BSE: MACHLTD), formerly known as Mach Conferences & Events Limited, announced its unaudited Q1 FY27 results. Revenue from Operations stood at ₹144.33 crore, up 538% YoY, while PAT stood at ₹6.17 crore, up 307% YoY.

The Company also recorded Gross Merchandise Value (GMV) of approximately ₹252 crore, reflecting the scale of travel transactions handled across its diversified platform.

Mach continues its transformation from a predominantly MICE-focused organisation into a diversified, technology-enabled travel solutions platform spanning Corporate Travel, MICE, B2B, Leisure and Government & Institutional Projects, while also developing a B2C Online Travel Agency (OTA) platform.

During the quarter, Mach executed large domestic and international mandates, including MICE programmes across Oceania, and continued scaling Corporate Travel through long-term enterprise agreements. The Company has onboarded 100+ Corporate Travel clients since April 2026 and continued execution of major Government & Institutional Projects in India.

Commenting on the performance, Mr. Amit Bhatia, Chairman & Managing Director, said: 

“Q1 FY27 marks an important milestone in MACH’s journey. Our transformation into a diversified travel solutions platform is beginning to translate into financial performance and a broader revenue profile. We remain focused on scaling our businesses, deepening technology integration and expanding our customer base. With a strong pipeline across key business verticals, we enter the coming quarters with encouraging visibility.”

Consolidated Financial Highlights

About Mach Travel Solutions Limited

Incorporated in 2004, Mach Travel Solutions Limited is a BSE-listed technology-enabled travel solutions company providing end-to-end solutions across Corporate Travel, MICE, B2B, Leisure and Government & Institutional Projects. The Company is also developing a B2C OTA platform.

Safe Harbour

This release contains forward-looking statements subject to risks and uncertainties that may cause actual results to differ materially. Mach Travel Solutions Limited undertakes no obligation to update such statements to reflect future events or circumstances.

Media Contact:

Mach Travel Solutions Limited 

Ms. Yashashvi Srivastava

Company Secretary                                           

Email: compliance@machtravel.com  

Website: machtravelsolutions.com 

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Kashmir’s stories and traditions come alive in Asian Paints’ Tribute to the Valley

~Transforms forty shikaras into floating works of art through its initiative ‘Aks-e-Kashmir’, and a landmark mural at the University of Kashmir under the 10^th chapter of Donate A Wall ~ 

SRINAGAR, India, Aug. 12, 2026 /PRNewswire/ — Few places in the world have captured hearts and imaginations across generations quite like Kashmir. Revered for centuries as ‘paradise on earth’, its true beauty lies not only in its breathtaking landscapes, but also in its people, the traditions they have preserved, and the artistry woven into everyday life. Inspired by this enduring spirit, Asian Paints, in collaboration with St+art Foundation and XXL Collective, has unveiled two landmark public art initiatives in Srinagar as a tribute to the Valley’s rich cultural heritage – Aks-e-Kashmir, which reimagines forty iconic shikaras on Dal Lake as floating works of art, and the Kashmir chapter of ‘Donate A Wall’, marking the tenth year of the public art initiative with a monumental mural at the University of Kashmir. These initiatives celebrate the stories, craftsmanship and living heritage that make Kashmir truly unique.

Aks-e-Kashmir: Forty Shikaras Become Floating Canvases of the Valley’s Stories

For generations, the shikara has been more than just a boat. It has been one of Kashmir’s most cherished symbols, offering visitors a glimpse into the Valley’s beauty, its way of life, and the stories that unfold along its waters. With Aks-e-Kashmir, Asian Paints, in collaboration with XXL Collective, has reimagined forty of these iconic shikaras as floating works of art that celebrate the many identities of Kashmir.

Inspired by the Valley’s rich artistic and cultural heritage, the collection brings together four contemporary artists Owais Ahmed, Sheehij Kaul, Zahra Javed and Shweta Sharma each exploring a distinct theme.

Every shikara has been designed as a complete artistic experience, with every material carefully chosen to celebrate its craftsmanship while bringing each artist’s vision to life. A Royale tribute comes to life with Asian Paints Royale Glitz, while Apcolite Premium Enamel adds a subtle shimmer to the artworks, allowing them to reflect the changing light on Dal Lake from bright sunshine to misty mornings and the shade of the chinar trees. The handcrafted wooden canopies and frames take inspiration from the palette of Asian Paints Wood Finish. Inside the shikara, Ador and Pure Royale fabrics add comfort and elegance through thoughtfully designed upholstery and furnishings that complement the artwork. Together, these elements transform every shikara into an immersive experience, inviting visitors to not only admire Kashmir’s beauty but also experience its stories, traditions and craftsmanship.

The initiative builds on Asian Paints’ long-standing association with Kashmir, following the Aks-e-Kashmir Shade Guide and the special edition Apex Ultima Kashmir Pack inspired by the region’s colours, textures and architecture.

Donate A Wall Comes to Kashmir, Marking Ten Years of a Movement

Complementing the floating art installation is the Kashmir chapter of Donate A Wall, Asian Paints flagship public art initiative celebrating a decade of transforming public spaces across India into cultural landmarks.

Created in collaboration with St+art Foundation and the University of Kashmir, the 11,500 sq. ft. mural transforms the façade of the iconic Allama Iqbal Library Building. Conceptualised by Srinagar-based architect, artist and urban planner Zoya Kashmiri and brought to life by local artists, the artwork draws inspiration from the University’s motto, “तमसो मा ज्योतिर्गमय” (From Darkness to Light), celebrating knowledge, imagination and cultural memory.

Created using Asian Paints Apex Ultima Protek, the mural is designed to withstand changing weather conditions while retaining its vibrancy for years to come. The University of Kashmir is the latest addition to Donate A Wall, which has transformed 24 public spaces across 18 cities over the past decade.

Speaking about the initiative, Amit Syngle, Managing Director & CEO, Asian Paints Ltd., said, “At Asian Paints, we’ve always believed that the most meaningful way to celebrate a place is by celebrating what makes it uniquely its own. Over the years, our regional initiatives have sought to honour the stories, traditions and cultural identities that define different parts of India – from celebrating Kolkata’s iconic yellow taxis as moving symbols of the city’s spirit to the shikaras that have created experiences inspired by the colours, culture and heritage of Kashmir. This tribute continues that journey. For centuries, Kashmir has inspired admiration not only for its extraordinary landscapes, but for the people, craftsmanship and traditions that have shaped its identity. Through Aks-e-Kashmir and the Kashmir chapter of Donate A Wall, we wanted to create something that belongs to the Valley and reflects its living heritage. We hope these initiatives invite both residents and visitors to experience Kashmir through its stories, its artistry and the remarkable cultural legacy that continues to inspire generations.” 

Arjun Bahl, Co-founder, St+art Foundation and XXL Collective, said, “Projects like Aks-e-Kashmir and the Donate A Wall mural at the University of Kashmir, which also marks a decade of the initiative, reflect our continued belief in taking art beyond conventional spaces and making it part of everyday public life. For XXL Collective, this has been about expanding the role of public art beyond walls and static sites and showing how design can enter living systems with sensitivity. While the mural carries forward the legacy of Donate A Wall, the reimagined shikaras on Dal Lake represent a new canvas for artistic expression rooted in Kashmir’s culture and traditions. We are grateful to Asian Paints for enabling a project of this scale, and to the artists, artisans, boat owners and production teams whose work has allowed these boats to become carriers of Kashmir’s stories in a renewed form.”

Prof. Nilofer Khan, Vice Chancellor, University of Kashmir, said: “We are delighted to partner with Asian Paints and St+art Foundation for the landmark tenth edition of ‘Donate A Wall’. The breathtaking mural on our Allama Iqbal Library façade brings our university’s motto – ‘From Darkness to Light’ – to life in a truly powerful way. This initiative does more than just transform our university’s architecture; it enriches our academic environment, instills a sense of pride in our student community, and celebrates Kashmir’s rich cultural heritage right at the heart of our campus.”

Asian Paints Limited:

Asian Paints is India’s leading paint and decor company and ranked among the top 8 coatings companies in the world with a consolidated turnover of ₹35,516 crore (₹355 billion) in FY’26 and with a market capitalization of approx. ₹2,627* billion. Asian Paints along with its subsidiaries have operations in 14 countries across the world with 25 paint manufacturing facilities, servicing consumers in over 60+ countries through Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans and Kadisco Asian Paints. Asian Paints also offers a wide range of Home Décor products and is an emerging strong player in the Home Improvement and Décor space in India.

Note: Market capitalization is as on June 15, 2026

For our email disclaimer please visit https://www.asianpaints.com/disclaimer.html#email

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