Bank of Asia officially announced BVI launch

July 18th, 2018

Bank of Asia (BVI) Limited, the first digital bank in the British Virgin Islands and one of the first fully digital global cross-border banks, will host an official launch ceremony in the BVI on 19 July, 2018, with participation of Premier and Minister of Finance Orlando Smith, and other representatives of the financial industry. The BVI launch follows the introduction of the Bank in Asia during the recent 2018 BVI Asia Trade Mission in June.

Bank of Asia has received a Banking License in the BVI in March 2017 from the BVI FSC, to pioneer digital banking solutions in the territory and to provide banking services to offshore companies, trusts and high net worth individuals from different countries. Its customers will be able to access its digital platform from anywhere in the world, 24/7. The online platform was opened on 11 June, 2018.

BVI Finance also identified Bank of Asia as the main partner in the growth of Financial Services in the British Virgin Islands. Bank of Asia’s initial services include core banking services in US dollars. In 2019, the Bank expects to introduce debit cards and lending services. An affiliated company will provide wealth management, investment advisory and investment banking advisory services.

Talon Metals announced loan extension with RCF

June 29th, 2018

Talon Metals Corp., a TSX-listed company focused on the exploration and development of the Tamarack Nickel-Copper-PGE Project in Minnesota, USA, entered into an agreement with Resource Capital Fund VI L.P for the extension of the maturity date of the US$16mln convertible loan facility with the BVI company to April 2, 2019. All the other terms and conditions of the Convertible Loan remain the same. Also, Resource Capital Fund has agreed to extend the maturity date of US$1mln unsecured promissory note to April 2, 2019. Among other things, the time extension will give time for the BVI company to consider all the options in respect of the convertible loan.

Talon Metals is seeking the “minority approval” of the loan extension; it is subject to shareholder approval and the approval of the Toronto Stock Exchange. The shareholders meeting to consider the loan extension and other matters is scheduled for July 26, 2018.

Luxoft Holding and Pegasystems Inc. creating new mobility services platform

June 15th, 2018

BVI-registered IT service provider Luxoft Holding, Inc. and Pegasystems Inc., the software company providing customer engagement at the world’s leading enterprises, have established a partnership to make the cloud-based mobility services platform for carmakers. The platform will change the focus from using software to change the in-car user experience to creating a holistic customer experience that covers every customer touchpoint.

Mikael Söderberg, Senior Technical Director, of Luxoft Automotive, said in his comments: “This platform acts as a blueprint that allows carmakers to own the customer experience by making more out of their customer data. By taking control of their software, carmakers can shape how people interact with their brand from the point of purchase.”

The mobility services platform will incorporate different features including rider management, service management, predictive diagnostics, mobile communication, and mobility services. It can be integrated into other cloud platforms, and can personalize the car by associating attributes to the user’s individual profile. It will be based on Pega Platform™, the industry-leading application development platform, and integrated with Luxoft’s Linux-based open source platform.

China Information Technology changed company name to Taoping Inc.

June 4th, 2018

BVI-incorporated internet services operator China Information Technology, Inc., providing internet-based ad distribution and ad display terminal sharing systems in China, announced the change of its name from “China Information Technology, Inc.” to “Taoping Inc.” Company’s ordinary shares are traded under the new symbol, TAOP instead of CNIT.

Mr. Jianghuai Lin, Chairman and CEO of CNIT, has commented on the strategic decision: “the new company name will more accurately reflect our current business operations. Since entering the public market in 2007 we have continued to execute exceptionally on our roadmap and are excited to introduce the Taoping Inc. to Wall Street, as we have done successfully amongst our peers in the new-media industry.”

The company’s shares are traded on the NASDAQ Capital Market under the new name starting from June 1, 2018.