Blank-check company will acquire, invest in sustainable businesses

KUWAIT – January 31, 2021 – Agility, a leading global logistics provider, announced that it has invested $35 million in Queen’s Gambit Growth Capital, a blank-check company that will target businesses offering sustainable solutions in clean energy, healthcare, financial technology, industrials, mobility and emerging technology.

Queen’s Gambit’s all-female management team is led by CEO Victoria Grace, a New York-based venture capitalist and Founding Partner of Colle Capital. The special purpose acquisition company is supported by an all-female Board with diverse industry experience.

Queen’s Gambit’s female-led management team “has the potential to tap into a differentiated network,” Tarek Sultan, Vice-Chairman of Agility said. “This is a chance to take a more inclusive view of opportunities in the market, and drive value in the process.”

Agility has a long-standing partnership with Colle Capital, having invested in multiple companies together. “Agility brings unique capabilities to the table, including our emerging market leadership, roster of 60,000 business customers, strategic partnerships, and experience of our Ventures team,” Sultan said. 

Agility’s investment in Queen’s Gambit reflects the company’s commitment to sustainability and belief that innovative technology can yield both social and economic returns. “This is not a new position for us. We’ve been practicing stakeholder capitalism for more than a decade,” Sultan said. “Sustainable technology is one of our core investment pillars.” 

Agility has been intensifying its long-standing commitment to the environment, sustainability and improved governance. It was recently added to the FTSE4Good Index Series, a resource used by investors to identify companies around the world with strong environmental, social and governance (ESG) practices.

Date
January 29, 2021

Time
10:00 – 11:00CET

With two out of three companies in Asia-Pacific planning to remodel their operations, prompted by technological shifts from the Fourth Industrial Revolution and the new economic context brought by the pandemic, the region aims to create a more connected, resilient and sustainable supply chain system.

What policies, best practices and innovative partnerships are underpinning supply chain transformations in the region?

This session is associated with the World Economic Forum’s Regional Action Group for Asia-Pacific.

The first part of the session is open to the public online, the second is only accessible via TopLink.

Public Speakers

Michael Wang

Anchor, Global Business, China Global Television Network (CGTN)

Rebecca Fatima Sta Maria

Executive Director, APEC Secretariat (Asia-Pacific Economic Cooperation)

Tarek Sultan Al Essa

Chief Executive Officer and Vice-Chairman of the Board, Agility

Muhammad Lutfi

Minister of Trade, Ministry of Trade of Indonesia

Sub-group analysis shows three-day earlier discharge from hospital in low-risk patients hospitalized with COVID-19

KUWAIT – January 27, 2021

Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY along with its subsidiaries together referred to as “Dr. Reddy’s”) and Global Response Aid FZCO (GRA) today announced results from an Avigan study on moderate-severe hospitalized COVID-19 patients in Kuwait.

A sub-group analysis of the low-risk (low NEWS Score at admission) study cohort (n=181) demonstrated a 3 day earlier discharge in Avigan group compared to placebo group (8 days vs 11 days; p=0.0063) for time to hospital discharge secondary endpoint.  This endpoint was predefined and showed statistical significance in a large portion of subjects in this study.  Time to hospital discharge is the best endpoint to determine if Avigan has a pragmatic effect on patients’ duration of hospitalization, a factor that is relevant to global shortages in clinical resources and hospital beds induced by the global Covid-19 pandemic.

The findings point favorably towards the hypothesis that an antiviral drug like Avigan (or similar oral or injectable RNA polymerases inhibitor) may be effective as part of early treatment initiation in COVID 19 patients. 

As a result of the favorable sub-group data, which are supported by similar results in Japan-based clinical trials and real-word studies, Dr.Reddy’s and Global Response Aid have agreed to expedite ongoing Phase 3 pivotal studies aimed at determining the efficacy of Avigan as an early treatment for COVID-19 patients with mild-to-moderate symptoms. Additional studies to evaluate the efficacy of Avigan as part of early treatment in COVID 19 patients have also been initiated, with the goal of alleviating symptoms and preventing disease progression before the infection requires hospitalization or other intensive interventions.

Other findings from the study of hospitalized patients with moderate-severe COVID 19 patients showed a one-day reduction in time to sustained hypoxia resolution for Avigan vs. placebo. Resolution occurred in seven days vs. eight days. However, the study did not achieve statistical significance thresholds, and was terminated. The full final data analysis of the 353 subjects who were part of the study of hospitalized patients will be available by end of February 2021. 

The study of hospitalized patients was part of an overall clinical program for Avigan in Kuwait, which covered a spectrum of COVID-19 cases ranging from asymptomatic to severe, in both outpatient and in-patient settings.  

Date
January 26, 2021

Time
10:15 – 11:15CET

With a projected contraction of 5.2% of GDP in the Middle East and North Africa in 2020, the twin shocks of the COVID-19 pandemic and declining oil prices risk hampering economic progress. At the same time, the accelerated digitization in the region has the potential to unlock new opportunities and counterbalance these economic downturns.

What policies, practices and partnerships are needed to implement stakeholder capitalism in the region and fully harness the potential of the Fourth Industrial Revolution?

This session is associated with the World Economic Forum’s Regional Action Group for the Middle East and North Africa.

The first part of the session is open to the public online, the second is only accessible via TopLink.

Simultaneous interpretation in English and Arabic

Public Speakers

Lara Habib

Senior Presenter, Al Arabiya

Abdulla Bin Touq

Minister of Economy, Ministry of Economy of the United Arab Emirates

Anas Alfaris

President, King Abdulaziz City for Science and Technology (KACST)

Henadi Al Saleh

Chair of the Board of Directors, Agility

Mirek Dusek

Deputy Head, Centre for Geopolitical and Regional Affairs, World Economic Forum Geneva

The unprecedented magnitude of the pandemic requires innovative and bold collective action from multinational organizations, governments and industries for inclusive and efficient distribution of safe vaccines. With lives and livelihoods of millions across the globe depending on multiple stakeholders harnessing the power of collective action – whether in the field of health delivery, goods delivery or humanitarian service delivery, the logistics sector and UNICEF will play a central role in vaccine distribution.

Image: UNICEF

Recognizing this need, 18 shipping, airlines and logistics industry CEOs, the Executive Director of UNICEF, and the President of the World Economic Forum, have signed a charter supporting UNICEF and COVAX countries in four main ways:

  1. Engage with governments, customs authorities, UNICEF and other UN Agencies, and NGOs
  2. Participate in operational asset and competency sharing
  3. Assign expertise to support governments, where requested by UNICEF
  4. Support UNICEF’s Global Vaccine Logistics Distribution, for COVID-19, with prioritization and solutions for international and in country distribution of vaccines and related supplies on behalf of the COVAX facility

Donation will support the education of 560,000+ students

KUWAIT – December 21, 2020 – Agility, a leading global logistics provider, and Aflatoun International, an NGO specializing in life skills and financial education around the world, announced a partnership that will increase educational opportunities for more than 560,000 students, with at least half of the opportunities created for female students.

Agility’s support will fund the development and translation of Aflatoun’s “AflaYouth” financial literacy and entrepreneurship curriculum into Arabic, French and Spanish. “AflaYouth”gives students, aged 16-24, access to both online and in-person training, support, mentoring and learning during their transition into the formal labor market, or as they launch an entrepreneurial career. Aflatoun will also develop teachers’ training manuals for the curriculum.

AflaYouth”  will be provided to Aflatoun’s network of 45 NGOs in 25 countries in the Middle East, North and West Africa, and Central and South America. Trainings on the curriculum will be provided to NGO partners and local educators, who in turn educate underprivileged youth in the communities where they operate. Trainings will take place both in-person and online, giving Aflatoun the flexibility to reach partners around the world.

Frank Clary, Agility’s Vice President for Sustainability, said: “Agility’s support means that Aflatoun’s partner NGOs will be able to implement educational programming for refugees and underprivileged local populations in a context and language that’s relevant to them. Since 2014, Agility has supported the education of 68,000 students around the world and this partnership with Aflatoun gives even more students the opportunity to have an education. Aflatoun empowers local communities to create development opportunities through education.”

Roeland Monasch, CEO of Afltaoun International, said: “The skills taught in this program are especially relevant in this time of economic uncertainties. One of the strengths of our programs is that they can be contextualized to local needs and circumstances. Therefore, it has become even more relevant that our AflaYouth Books will be translated into other languages. Thus, we can deliver our-quality curricula to more young people across different regions of the world. We hope that this project is a great start of a long-term partnership with such a successful company as Agility.”

Agility has a globally recognized sustainability program, covering humanitarian logistics, community volunteerism, fair labor and environmental sustainability. Agility is part of the FTSE4Good Index Series, a resource used by investors to identify companies around the world with strong environmental, social and governance (ESG) practices. Agility is also ranked in the top 10% of all companies and the top 4% of the logistics industry for overall sustainability performance by EcoVadis. Since 2006, Agility has completed more than 1,800 community education, health or environment projects affecting more than one million people in 80 countries.