Bitget’s Blockchain4Youth Celebrates Two Years of Youth-Driven Innovation

VICTORIA, Seychelles, May 26, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, is excited to celebrate the 2nd Anniversary of Blockchain4Youth. With over 8,000 participants globally and more than 3,000 certificates issued, the program continues to empower the next generation with the knowledge and tools needed to shape the future of blockchain and Web3 innovation.

The initiative’s success is anchored in its mission to bridge the knowledge gap between emerging technologies and youth audiences, particularly students, young developers, and aspiring entrepreneurs. Through the flagship initiative Bitget Builders, Bitget announced its global expansion through a series of offline engagements, inviting crypto enthusiasts from various backgrounds to co–build the Bitget ecosystem while unlocking insights, event access, and growth opportunities.

Over the past year, Blockchain4Youth has collaborated with universities and educational institutions worldwide, including top institutions in North America, APAC and other regions. In March 2025, Blockchain4Youth saw itself at the centre of Google Developer Group's “Build with AI” Hackathon, speaking and inspiring 130 bright student minds, exploring the intersection of blockchain and AI.

Now entering its third year, Blockchain4Youth has expanded to over 70 countries and regions, reaching out through a series of educational partnerships, hackathons and online courses. With over 80+ campus lectures, Blockchain4Youth has made its mark in growing education and awareness around this emerging tech. This growth shows Bitget’s longstanding commitment to making blockchain knowledge accessible and inclusive while creating real–world impact.

“Over the last two years, Blockchain4Youth has evolved from an idea into a global movement,” said Vugar Usi Zade, COO of Bitget. “We hold strongly onto the belief that the future is in the hands of the youth and we are thrilled to see how many young people have taken initiative to learn, build, and contribute to the Web3 space. As the blockchain industry continues to mature, it becomes essential to build a more inclusive and innovative digital future, and I believe the answer lies in the next generation.”

Bitget remains committed to empowering global youth through impactful initiatives that foster innovation, education, and community building in Web3. As Blockchain4Youth enters its third year, it continues to serve as a cornerstone of Bitget’s broader mission to drive mainstream blockchain adoption through education and supporting youths.

To find out more about Blockchain4Youth, please visit here.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real–time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world–class multi–chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: [email protected]

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bb4e4a58–2b8f–4450–8047–58180921d5c3


GLOBENEWSWIRE (Distribution ID 1001098863)

SAR 423 Billion in Foreign Investments: Saudi Arabia Launches Offshore Securities Business License

RIYADH, Saudi Arabia, May 26, 2025 (GLOBE NEWSWIRE) — Over the past decade, the Saudi Capital Market Authority (CMA) has methodically advanced the Kingdom’s capital market reforms, gradually opening its financial markets to international investors. This transformation has attracted substantial global institutional interest, with foreign holdings reaching approximately SAR 423 billion by the end of 2024. The recent introduction of the Offshore Securities Business License underscores Saudi Arabia’s ambition to establish itself as a leading regional and global financial center.

The QFI program in 2015 was the first program to provide direct access into Saudi markets for foreign investors. Prior to the QFI program, foreign investors could only access Saudi equities through swap arrangements, once foreign institutions qualified as QFIs, the program created a direct way for foreign institutions to transact in the Saudi market, further expanding the overall market access.

Since then, the CMA has gradually dismantled many of the restrictions that once limited foreign participation. In 2018, asset thresholds for QFI eligibility were lowered, per–investor ownership caps were raised from 5 to 10 percent, and the pool of eligible investors was expanded.

Also, improvements to corporate governance, financial disclosure, and market infrastructure made Saudi Arabia’s capital market more transparent and credible. These reforms helped the Kingdom secure inclusion in the MSCI and FTSE Russell emerging market indices in 2019, a development that catalyzed massive capital inflows.

The impact was instant, QFI owned SAR 13.7 billion in Saudi market in 2018. That figure increased to SAR 134.48 billion in 2019, coinciding with index inclusion. By the end of 2024, foreign investors held about SAR 423 billion in equities—up from around SAR 86 billion just six years earlier.

Beyond these broad reforms, the CMA has continued to refine foreign access. In January 2025, it published a landmark rule change permitting foreign ownership in Saudi–listed companies that own real estate assets in the holy cities of Makkah and Madinah. Previously, such ownership was prohibited due to restrictions on property in the two cities. Under the new regulation, non–Saudi investors—whether individuals or institutions—can now own up to 49% jointly of shares or convertible debt in these companies.

The CMA also recently published a framework for a new offshore license, intended to allow financial institutions to conduct securities business through a regional headquarters. While still pending implementation, this initiative aims to position the Kingdom as a regional and global financial hub for securities.

This Offshore Securities Business License will enable licensed institutions to carry out securities activities, as well as manage investment funds that invest in securities within the Kingdom. These services may be provided to foreign clients outside the Kingdom, in addition to a specified category of local clients.

Additionally, the license will allow its holder to invest in the Saudi capital market without the need to meet the qualification requirements typically imposed on qualified foreign investors. In addition, this license will enable its holder the access to a broader client base, including transactions with sovereign investment funds such as the Public Investment Fund, which manages over SAR 3.5 trillion in assets in 2024, as well as pension funds within the Kingdom.

The offshore licensees and structure also present other benefits to developing and establishing private investment funds in Saudi Arabia. Offshore licensees will have flexible contractual terms as they will focus on addressing a complex and sophisticated investment needs.

Taken together, these reforms represent one of the most comprehensive efforts among emerging markets to integrate with global capital flows. The CMA’s approach—measured, regulatory–driven, and clearly aligned with Vision 2030—has generated confidence among international investors. While challenges remain, particularly in implementation and investor onboarding processes, the trajectory is clear. Saudi Arabia is building a market that not only attracts foreign capital, but retains it through stability, structure, and institutional trust. As the offshore licensing regime moves toward activation, it stands as the latest signal that the Kingdom’s financial sector is not just open—it is competing.

Contact:
Capital Market Authority
Communication & Investor Protection Division
+966114906009
+966557666932
[email protected] 
www.cma.org.sa 


GLOBENEWSWIRE (Distribution ID 9457816)

Bitget Delivers A Knockout Experience: VIP Access to Karate Combat’s KC54 Dubai UFC Fight

DUBAI, United Arab Emirates, May 26, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, brought the heat to Token2049 with an exclusive ringside experience at Karate Combat KC54 in Dubai on May 2nd. Think high–octane strikes, VIP treatment, and a night so wild, even the blockchain felt the impact.

This year, Bitget raised the stakes by offering a premium experience that put crypto enthusiasts right at the heart of the action. Bitget's esteemed VIPs witnessed world–class fighters trade blows while enjoying gourmet food and premium beverages in an exclusive VIP section reserved just for Bitget's key opinion leaders and special guests.

With a crowd of 4,000–5,000 roaring fight fans, the energy in Dubai's premier venue was electric. Bitget COO Vugar Usi Zade perfectly captured the spirit of the event: “Crypto trading and combat sports demand the same qualities—quick reflexes, strategic thinking, and nerves of steel. We're thrilled to give our community this exclusive opportunity to experience world–class competition up close. Whether you're analyzing charts or analyzing fight techniques, this is where champions are made.”

Robert Bryan, CEO of Karate Combat, remarked, “KC54 marked a significant milestone in our journey, and having Bitget as a sponsor amplified our commitment to innovation in combat sports. Their support helped us deliver an unforgettable experience that blended tradition with cutting–edge technology.

Asim Zaidi, President of Karate Combat, also added, “Partnering with Bitget for KC54 was a game–changer. Their involvement not only elevated the event's profile but also underscored the synergy between martial arts and the evolving digital landscape.”

The event marked another strategic partnership for Bitget in the combat sports world, following their successful collaborations with professional combat athletes such as Wrestling World Champion, Buse Tosun Çavuşoğlu, and Boxing Gold Medalist Samet Gümüş (Boxing). By creating these exclusive live experiences, Bitget continues to build meaningful connections between the crypto community and high–profile sporting events.

Jyotsna Hirdyani, Bitget's South Asia head, who orchestrated the event, shared insights. “This is the future. From blockchain to sports, crypto is changing the game forever. This is what happens when sports & entertainment meet blockchain technology. It’s a cultural shift where you will see more & more cross–plays of sports x crypto, the ultimate cross–over.”

This partnership underscores Bitget's commitment to delivering unique, high–value experiences to its community. Just as in trading, timing is everything, and May 2nd in Dubai was when crypto met combat in what turned out to be an unforgettable showdown. Bitget's focus remains on creating tangible value for the crypto community beyond digital interfaces.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real–time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world–class multi–chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: [email protected]

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

About Karate

Karate Combat is the world's premier full–contact karate league, renowned for its innovative approach to combat sports entertainment. Known for its distinctive, fast–paced fighting style – essentially MMA without ground fighting, Karate Combat delivers high–energy bouts, with nearly half ending in knockouts. With over 7 million followers, hundreds of millions of views monthly, and over 100,000 active app users, Karate Combat is at the forefront of blending sports, technology community–driven experiences.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/c42afdf6–d6ba–4c86–9956–11a55ab53e57

https://www.globenewswire.com/NewsRoom/AttachmentNg/7491be04–23bb–4a08–adea–298413bc3465

https://www.globenewswire.com/NewsRoom/AttachmentNg/11cf807e–3ef9–44f5–8645–11265a51e617

https://www.globenewswire.com/NewsRoom/AttachmentNg/3b65cc5e–9dd9–4842–9b2c–cb12d08b16d6


GLOBENEWSWIRE (Distribution ID 1001098898)

South-South Cooperation: An Engine for Transformational Change in Achieving the 2030 Agenda

UNOSSC Director Dima Al-Khatib addresses the 21st Session of the High-level Committee on South-South Cooperation last year. UNOSSC serves as the Secretariat of the High-level Committee. Credit: UNTV

 
The 22nd session of the High-level Committee on South-South Cooperation will be convened 27-30 May 2025 to review progress made in implementing the Buenos Aires Plan of Action for Promoting and Implementing Technical Cooperation among Developing Countries, the New Directions Strategy, the Nairobi outcome document of the High-level United Nations Conference on South-South Cooperation and the Buenos Aires outcome document of the second High-level United Nations Conference on South-South Cooperation (BAPA+40).

By Dima Al-Khatib
UNITED NATIONS, May 26 2025 – With just five years to 2030, the world stands at a pivotal juncture. The collective promises of our 2030 Agenda for Sustainable Development – to end poverty, protect the planet, and ensure prosperity for all – remain urgent and vital. Yet, progress is uneven, and in many areas, we risk falling short.

Amid this global uncertainty, we must look not only at what is faltering, but also where the rays of hope are shine.

South-South and triangular cooperation brings hope.

Across continents and oceans, developing countries are rising – together. They are innovating, collaborating, and forging new paths toward sustainable development. It is in this context that the 22nd session of the High-level Committee on South-South Cooperation convenes under the theme: “Accelerating the 2030 Agenda for Sustainable Development: South-South Cooperation as a Driver for Transformation.”

This theme is not only timely; it is inspiring. South-South cooperation has emerged as a dynamic force, reshaping the global development landscape and offering new pathways to shared prosperity. It is a testament to the ingenuity, solidarity, and resilience of countries of the Global South – powerful agents of change.

Addressing Shared Challenges Through Collective Action

The world today faces complex, interconnected crises: persistent poverty, widening inequalities, the climate emergency, and the lingering impacts of the COVID-19 pandemic, among others. These challenges do not know borders, and no country can tackle them alone. South-South cooperation offers a powerful model for collective action – one that is inclusive, adaptable, and rooted in the lived experiences of developing countries.

A recent example is the African Union’s Peace Fund, which allocated $7 million to support peace initiatives in Burkina Faso, the Democratic Republic of the Congo, and other countries facing instability.1 This commitment demonstrates how regional organizations of the Global South are mobilizing resources and expertise to address development challenges through solidarity and shared responsibility.

By supporting knowledge sharing and capacity-building activities, among others, the Peace Fund is helping to lay the groundwork for sustainable development and regional stability.

South-South cooperation also thrives in sectoral partnerships. For instance, Brazil and India have collaborated on satellite technology to monitor deforestation and boost agricultural production, while Mexico has invested in food security and job creation programs in Honduras and El Salvador, benefitting over 40,000 people.2 These efforts underscore the diversity and adaptability of South-South solutions.

Leveraging Innovation and Digital Transformation

The digital divide continues to deepen. Over 2.6 billion people – most of them women and girls – remain offline, excluded from education, healthcare, and economic opportunity.

The promise of digital transformation must not become the privilege of the few. This is why South-South cooperation matters now more than ever.

Across the Global South, countries are harnessing digital technologies to leapfrog traditional development barriers. For example, AI is being deployed to strengthen early warning systems for climate resilience in Dominica, to improve crop forecasting with satellite data in Kenya, and to support multilingual education platforms in India.

In Brazil, AI is helping optimize public health responses, while Rwanda is using AI-driven tools to expand financial services to rural communities. When developed and deployed ethically, AI can offer scalable, low-cost solutions tailored to local realities.

UNOSSC’s South-South Galaxy platform is a living repository of such solutions, connecting practitioners and policymakers; and the South-South and Triangular Cooperation Solutions Lab is incubating and scaling up successful initiatives. From mobile banking in East Africa to e-governance initiatives in Asia, digital transformation is expanding opportunities and empowering communities.

Science, technology, and innovation (STI) are great equalizers – if we ensure equitable access. Artificial Intelligence holds enormous potential to transform development: optimizing crop yields, predicting disease outbreaks, advancing renewable energy. But it also brings real risks – of deepening inequality, displacing jobs, and eroding trust.

To ensure AI and frontier technologies serve people and planet, we must shape them with inclusive governance, ethical foresight, and robust international cooperation.

South-South and triangular partnerships are critical to this effort. By pooling resources, knowledge, and talent, countries in the Global South can leapfrog outdated systems and build resilient, inclusive digital economies. The Havana Declaration, adopted by the Group of 77 and China, underscored this collective commitment to harnessing STI for sustainable development.

The Transformative Power of South-South Cooperation

South-South cooperation is grounded in mutual respect, solidarity, and partnership. It is about countries with similar challenges and aspirations coming together to find solutions that work in their own contexts. Across the Global South, we see a myriad of homegrown innovations that are making a tangible difference. UNOSSC is proud to mandate trust funds that are scaling up these innovations.

The United Nations Fund for South-South Cooperation stands a beacon of this spirit. Over the past 30 years, 47 government entities have contributed to the Fund. Working in partnership with 45 United Nations entities, projects and initiatives supported by the Fund have reached over 70 countries and benefited people in 155 countries and territories globally — strengthening institutions, building capacity, and fostering lasting cooperation.

For example, thanks to the partnership with the Government of China, under the Global Development Initiative, over 1,000 development practitioners from 100+ countries have been trained in cross-border e-commerce and digitalization.

Since its establishment in 2017, the India-UN Development Partnership Fund has supported more than 75 demand-driven, transformational projects in 56 developing countries, with a strong focus on Least Developed Countries and Small Island Developing States. Its initiatives range from strengthening climate resilience in Pacific Island nations, to expanding renewable energy in Africa, and supporting pandemic response in the Caribbean.

During the COVID-19 crisis, the India-UN Fund quickly mobilized resources to provide medical supplies and personal protective equipment to 15 countries, demonstrating the speed and responsiveness that South-South cooperation can deliver in times of crisis.

Similarly, the IBSA Fund – a unique partnership among India, Brazil, and South Africa – has supported over 40 projects in more than 35 countries, focusing on poverty reduction, food security, access to clean water, education, and gender equality.

In Haiti, the IBSA Fund supported the construction of community health centers and the establishment of a solid waste management system, directly benefiting thousands of vulnerable people. In Sierra Leone, the Fund contributed to the rehabilitation of agricultural infrastructure, boosting food security and livelihoods in rural communities.

These projects are concrete expressions of solidarity and South-South learning, designed to be replicable and scalable across the developing world.

The Group of 77/Pérez-Guerrero Trust Fund for South-South Cooperation (PGTF), established by the United Nations in 1983, has been instrumental in promoting economic and technical collaboration among developing nations. Over the past four decades, the PGTF has supported over 400 projects benefiting 140+ countries, focusing on areas such as food security, renewable energy, trade, and technology.

For instance, in Uruguay, the PGTF facilitated refurbishment of small hydropower centers, enhancing access to sustainable energy in rural communities. Among others, in Africa, the Fund is supporting projects that strengthen food systems and empower women-led cooperatives.

By providing seed funding and fostering partnerships, the PGTF exemplifies principles of South-South cooperation, promoting shared knowledge and collective self-reliance among nations of the Global South.

The Role of Triangular Cooperation

While South-South cooperation is led and owned by developing countries, it is further strengthened through triangular cooperation – partnerships that bring together countries of the South, traditional donors, and multilateral organizations. These collaborations combine resources, expertise, and networks, amplifying the impact of development efforts.

A recent UNDP publication showcases how these partnerships are delivering results in environmental protection, disaster risk reduction, and gender equality, supporting global transformational shifts aligned to the SDGs.3

A notable example – with the support of the Republic of Korea – the UNOSSC PLINK initiative, focused on the Water-Energy-Food Nexus, is supporting vulnerable communities in the Lower Mekong Basin (Cambodia, Lao PDR, Thailand, and Viet Nam) to co-create and scale sustainable solutions to the compounding effects of climate change, unsustainable agriculture, and rapid urbanization. Such partnerships demonstrate the value of combining South-South leadership with global expertise.

To further institutionalize and expand the reach of such collaborations, UNOSSC has established a Triangular Cooperation Window under the United Nations Fund for South-South Cooperation (UNFSSC). Launched as a dedicated facility, the Triangular Cooperation Window is mobilizing resources, knowledge, and expertise from a wide range of stakeholders-including governments, UN entities, intergovernmental and non-governmental organizations, and private sector partners. Partnership to the Window has been provided by Colombia, Morocco, Portugal, and Spain.

A Call to Action

As we gather for the 22nd session of the High-level Committee on South-South Cooperation, and prepare for the 4th International Conference on Financing for Development, I urge all development partners and stakeholders to invest in the transformative potential of South-South and triangular cooperation.

Let us draw inspiration from the successes of the Global South and commit to sharing knowledge, building capacity, and mobilizing resources for sustainable development. Let us ensure that the voices and experiences of developing countries are at the heart of global decision-making.

1 Report of the Secretary-General on Measures taken by United Nations organizations to implement decision 21/1 of the High-level Committee on South-South Cooperation through support for South-South and triangular cooperation to accelerate the 2030 Agenda for Sustainable Development SSC/22/2
2 UNCTAD helps countries measure South-South cooperation
3 Strengthening South-South and Triangular Cooperation for People and Planet

Dima Al-Khatib is the Director of the United Nations Office for South-South Cooperation. She took up her duties as Director of UNOSSC on 1 March 2023. She is a Sustainable Development Professional bringing more than 25 years of leadership and management experience in several duty stations to her role. Prior to joining UNOSSC, Ms. Al-Khatib served as the UNDP Resident Representative in the Republic of Moldova. Prior to that, she held several positions including that of Programme and Policy Coordinator at the UNDP Regional Hub in Amman, UNDP Deputy Resident Representative in Kuwait, and UNDP Deputy Country Director in Libya.

Ms. Al-Khatib holds a Diplome d’Etudes Approfondies (DEA) in Environmental Health from the Lebanese University and France University of Bordeaux II, and a Bachelor of Science and a Teaching Diploma in Environmental Health from the American University of Beirut. Dima Al-Khatib tweets at @dimaalkhatib

IPS UN Bureau

 


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The World Must Respond to Africa’s Forgotten Crises

Education is a humanitarian lifeline for the world’s most vulnerable children. Our investment in their education today is an investment in global security, economic stability and continued growth in the 21st century.

By Yasmine Sherif
NEW YORK, May 26 2025 (IPS-Partners)

The challenges facing many parts of the African continent today are vast and immense. From the surge in violence in eastern Democratic Republic of the Congo to all-out-war in Sudan, years of progress are being obliterated by bombs, killings and other grave violations of international law.

The single best investment we can make in addressing these multiplying humanitarian crises is an investment in the vast potential and talents of Africa’s younger generations. By investing in their education, we empower them to prevent conflicts, end extreme poverty and ensure economic development, peace and stability. Without investing in education as part of this broader vision, none of these imperatives will be materialized.

The returns on investment are significant. As noted by the World Bank, foundational learning has the potential to double the GDP per capita in sub-Saharan Africa by 2050.

Responding to the education funding gap

Many traditional donor countries have dramatically reduced humanitarian aid in the past year, with recent analysis from UNESCO revealing a concerning drop of 14% in global aid to education. Yet, we all want to see a stable and prosperous Africa – a continent that deserves no less.

Still, Africa is falling even further behind. Estimates from UNESCO indicate that, worldwide, there is a US$100 billion funding gap to reach the goal for universal education as outlined in the 2030 Agenda for Sustainable Development, with US$70 billion of this gap found in sub-Saharan Africa.

Learning poverty is a concerning global trend. Nowhere is this more pressing than across Africa. Around four out of five African children cannot read or understand a simple text by age 10, according to UNESCO, and many struggle with basic numeracy skills.

Compounding challenges like conflict, climate change and forced displacement are derailing development gains and impeding access to life-saving education in humanitarian crises – an investment that is indispensable to achieve peace and economic prosperity. According to the recent global estimates study by Education Cannot Wait (ECW), about half of the world’s 234 million crisis-impacted school-aged children reside in sub-Saharan Africa.

An entire generation is being left behind. “Although 75 million more African children are enrolled in school today compared to 2015, the number of out-of-school children has increased by 13.2 million to over 100 million during the same period,” according to the 2025 Transforming Learning and Skills Development in Africa report.

You cannot have sustainable economic growth without stability. And you cannot achieve stability without education. Africa is a continent on the move, a continent of forced displacement as a consequence of armed and violent conflicts, as well as climate change.

“In 2020, 21 million Africans were living in another African country. Since 1990, the number of African migrants living outside of the region has more than doubled, with the growth in Europe most pronounced. In 2020, most African-born migrants living outside the region were residing in Europe (11 million), Asia (nearly 5 million) and North America (around 3 million),” according to the World Migration Report.

Our collective failure to respond to this pressing education crisis will have dire global consequences.

The situation in eastern Democratic Republic of the Congo

Just look at the terrifying situation unravelling in eastern Democratic Republic of the Congo (DRC). This region has been plagued by violence for decades, but it’s gotten much, much worse in recent months.

In all, there are an estimated 3.5 million forcibly displaced children in DRC today. Millions risk unimaginable violations of their human rights, including killing, maiming, abduction and forced recruitment into armed groups. There are also unconscionable accounts of sexual violence against girls. In eastern DRC, a child is reported raped every half an hour, according to UNICEF.

How can we tolerate the magnitude and depth of young girls and boys being systematically raped and killed? “More than 79 million girls and women – over 1 in 5 – across sub-Saharan Africa have experienced rape or sexual assault before turning 18,” according to UNICEF. Let’s put that number in perspective. That’s more than the total population of Australia and Spain combined.

For the children living in the midst of this chaos and fear, the options are limited. For girls, it’s a future as a child bride, continued poverty and early pregnancies. For boys, it might look like forced recruitment into terrorist organizations and other armed groups, forced labour or migration. For the world, this means growing forced displacement and migration, deeper and more widespread insecurity across the Global South, unstable markets, unstable populations and unstable futures.

The consequences of the war in Sudan

The situation in Sudan is soul-shattering and must end now. Recent estimates indicate that 30 million people require humanitarian assistance, including 16 million children. More than 12 million people have been displaced inside and outside Sudan since April 2023, straining education systems, budgets and capacity in neighbouring countries.

In all, the conflict and continuing challenges – including forced displacement, climate change, poverty and other factors – have left about 16.5 million children out of school in Sudan.

Education is the solution

As the global fund for education in emergencies and protracted crises in the United Nations, Education Cannot Wait (ECW) and its strategic partners are making a value proposition to increase humanitarian funding for education in Africa and beyond. In doing so, we contribute to joint programming on education, hence the broader goal of peace, stability and economic development.

There is a strong economic argument to be made. Africa is the youngest, fastest growing continent on earth – 6 out of 10 people are under the age of 25.

Within all that youth and energy lies opportunity. According to the World Bank, there is a 10% increase in hourly earnings for every extra year of schooling.

At the same time, taken at a macro-economic level, the opportunity costs are unprecedented. “This generation of students now risks losing a combined total of US$21 trillion in lifetime earnings in present value, or the equivalent of 17% of today’s global GDP – a sharp rise from the 2021 estimate of a US$17 trillion loss.”

The returns on investment in sub-Saharan Africa may be even more substantial, with some analyses indicating that every US$1 invested in tripling pre-primary education enrolment can generate up to US$33 in returns.

A lasting legacy

Education – as a transformative, immediate, life-saving and long-term investment –breaks cycles of poverty, displacement and conflict. Only then can we achieve peace, stability and economic development.

Deep inside us, we all agree that we can do better as a global community. We all know, instinctively, that the world would be a better place if we reduced global military spending – topping US$2.7 trillion – and instead invested in education, health, governance, infrastructure and livelihoods. We do know that we can be creative and turn vision into practical results. All it takes is investing just 0.02% (US$600 million) of this into education – and similar amounts into other sectors – which, together, provide the transformational power to build stability, spread peace and generate significant economic returns. This is not just logic. This is a legacy worth living.

 


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Excerpt:

Africa Day Statement by Education Cannot Wait Executive Director Yasmine Sherif

Islands are Solutions: the Case for Island-Ocean Coalitions

Robinson Crusoe Island, Chile in the Juan Fernandez Archipelago is home to a community of about 1,000 people who depend on the island’s natural resources. Credit: Jose Cabello/Island Conservation

By Penny Becker, Stuart Sandin and Wes Sechrest
SEATTLE, Washington / SAN DIEGO, California / AUSTIN, Texas , May 26 2025 – As the world confronts escalating climate impacts, biodiversity loss, and ocean degradation, islands stand as critical test cases—not just as sites of vulnerability, but as living laboratories of resilience, restoration, and innovation. Too often, they are framed as victims of global circumstances, awaiting salvation from external forces.

But they have long been proving grounds for ecological restoration, climate adaptation, and scalable conservation solutions that both draw from and help protect Indigenous and local knowledge, cultural practices, and local economies of island communities.

From the Republic of Seychelles’ pioneering blue bonds, which finance marine protection in the Westen Indian Ocean, to New Zealand’s ambitious Predator Free 2050 initiative restoring native bird populations and ecosystems, to the Galapagos Islands improving livelihoods and rewilding species on the brink of extinction, islands have time and again demonstrated that large-scale ecological recovery is both possible and rapid.

Mona Island, Puerto Rico is one of the most ecologically and culturally important islands in the archipelago. Credit: Tommy Hall/Island Conservation

Their contained ecosystems allow for swift, measurable results, making them ideal places to refine and implement nature-based strategies that can be expanded globally.

The interconnectedness of islands and oceans is deeply understood by Indigenous communities, whose knowledge systems have emphasized this direct relationship for centuries. Holistic island restoration directly benefits ocean health, as terrestrial ecosystems play a vital role in nutrient cycling that support marine biodiversity and ecosystems – for instance, seabirds return nutrients to land from marine environments of hundreds or even thousands of miles away.

Removing human-introduced, damaging invasive species from islands, for instance, dramatically improves native wildlife populations, bolsters coral reef health, and enhances local food security.

That’s why Island Conservation, Scripps Institution of Oceanography at UC San Diego, and Re:wild came together to found the Island-Ocean Connection Challenge (IOCC) in 2022. We launched this initiative to learn from and partner with Indigenous Peoples and local communities, whose wisdom bridges the gap between island, coastal, and marine ecosystem management, recognizing the profound link between terrestrial and ocean restoration.

By collaborating with island communities, their governments, NGOs, scientists, and funders, we aim to holistically restore 40 globally significant island-ocean ecosystems from ridge-to-reef by 2030. Twenty island-ocean ecosystems, from Palau to New Zealand to France and more, have already joined the challenge. And, to date, fifty IOCC partners have pledged to help advance this global vision and island restoration portfolio.

The IOCC’s work is based on the irrefutable evidence of impact we gathered from projects across the globe. Consider these success stories: on Palmyra Atoll (in the Pacific’s Northern Line Islands), removing invasive predatory rats led to a 5,000 percent increase in native trees, which strengthened surrounding coral reef ecosystems that now host more Manta Rays.

On Loosiep Island in the Federated States of Micronesia, restoration interventions improved traditional agriculture practices, reducing reliance on imported food. And in French Polynesia, the Critically Endangered Polynesian Storm-petrel has returned to nest on Kamaka Island for the first time in 100 years—less than two years after ecosystem restoration efforts began.

Around the world, these revitalized habitats capture more carbon, provide more storm resilience, and protect unique endemic plant communities, support healthier local fisheries, and enrich marine ecosystems. These restored islands demonstrate the power of nature’s resilience when native species are once again given the chance to thrive and rewild their ecosystems.

These wins are more than just community conservation and environmental victories—they’re stories of hope: tangible solutions to the triple planetary crisis of climate change, biodiversity loss and ocean degradation. Studies have shown that restored islands can capture millions of metric tons of carbon, resist coastal erosion, bolster food security for local communities, nurture up to fifty percent more fish, and grow coral reefs up to four times faster.

These successes on islands are scalable; the discrete geographic scale of islands allows for systematic restoration efforts with impacts that reach far beyond their shores.

For those who care about ocean health, investing in terrestrial restoration is critical. The fate of marine ecosystems is tied to the health of island environments and vice-versa. For those who care about island communities and nature, investing in adjacent ocean ecosystem restorations is also undebatable. Ignoring these connections risks overlooking one of the most effective levers for ocean and island resiliency. Visible gains for local communities foster greater engagement in ocean protection efforts.

The capacity of large oceanic island states and territories to model solutions for global crises is outsized. By shifting our perspective of islands as hubs of innovation, restoration, and resilience we can truly harness the power of “our sea of islands”, unlocking their full potential—not just to safeguard their own futures, but to inform the recovery and health of our entire planet.

The choice is clear: invest in island-ocean system resilience with local communities now, or lose irreplaceable biodiversity, cultural heritage, and proven solutions to our most pressing global challenges. The world’s island communities are ready to lead. There is no better time than now to step up for islands.

Dr. Penny Becker is CEO, Island Conservation; Dr. Stuart Sandin is Biological Oceanography Professor, Center for Marine Biodiversity and Conservation, Scripps Institution of Oceanography & Wes Sechrest is CEO, Re:wild

IPS UN Bureau

 


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Bitget Lists World Liberty Financial's USD1 (USD1) Token for Spot Trading

VICTORIA, Seychelles, May 26, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of USD1, adding it to spot trading. World Liberty Financial's USD1 is a fiat–backed stablecoin pegged 1:1 with US Dollars. Trading for USD1/USDT and USD1/USDC trading pair will begin on 26 May 2025, 10:00 (UTC), with withdrawals available on 27 May 2025, 11:00 (UTC).

The USD1, issued by the Trump family–affiliated World Liberty Financial, is designed to streamline digital transactions by enabling seamless conversion between fiat currency and digital assets. Its recent integration and growing popularity marks a major step toward broader adoption, allowing the stablecoin to operate across multiple blockchains. Through strategic partnerships, USD1 is accelerating its integration within the decentralized finance ecosystem.

As Bitget continues to curate unique and influential assets within its innovation zone, the listing of USD1 signifies growing demand for stablecoin ecosystems.

Bitget continues to expand its offerings, positioning itself as a leading platform for cryptocurrency trading. The exchange has established a reputation for innovative solutions that empower users to explore crypto within a secure CeDeFi ecosystem. With an extensive selection of over 800 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON.

The addition of USD1 into Bitget’s portfolio marks a significant step toward expanding its ecosystem by embracing niche communities and fostering innovation in decentralized economies, further strengthening its role as a gateway to diverse Web3 projects.

For more details on USD1, visit here.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real–time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world–class multi–chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: [email protected]

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3dccde4–3a2a–4131–8c07–59dbf02e4c59


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1 in 4 Jobs will be Transformed by Generative AI

Chat GPT is one of the most widely used generative AI systems in the world, estimated to have nearly 400 million active weekly users. Credit: Sanket Mishra/Pexels

By Oritro Karim
UNITED NATIONS, May 26 2025 – While generative artificial intelligence (AI) has increased efficiency and output across numerous industries. However, labour organizations have expressed concern over AI’s ability to radically transform jobs around the world.

Generative AI has been designed to mimic human cognitive functions and has the ability to process large amounts of data at a time. Unlike job automation from previous decades, generative AI is able to facilitate decision-making processes, reshaping a variety of industries. Even jobs in creative fields, which were historically believed to be immune from automation, are now under direct threat from the emergence of generative AI tools.

On May 20, the International Labour Organization (ILO) released a comprehensive study which details the impacts that generative AI usage has on jobs worldwide. Expanding on figures from 2023’s edition, this year’s report uses “more refined” data collection tools for analyzing the impact of generative AI on employment shares, including both human studies and AI systems, covering nearly 30,000 tasks .

The report, titled Generative AI and Jobs: A Refined Global Index of Occupational Exposure, seeks to analyze rates of job transformation worldwide as a result of generative AI integration and help policymakers prepare for risks in job security and economy. Additionally, ILO urges employers and industries to consider ways to use generative AI tools to maximize productivity and job satisfaction.

“By combining human insight, expert review, and generative AI models, we’ve created a replicable method that helps countries assess risk and respond with precision,” said ILO Senior Researcher and lead author of the study Pawel Gmyrek.

“It’s easy to get lost in the AI hype. What we need is clarity and context. This tool helps countries across the world assess potential exposure and prepare their labour markets for a fairer digital future,” said Janine Berg, the Senior Economist at the ILO.

A major objective of the 2025 report was to distinguish between job augmentation and automation. It states that human labour will likely be a part of job markets for the foreseeable future. Workers are far more likely to have their responsibilities changed as generative AI adopts their duties with higher rates of efficiency.

“Currently, the main risk from generative AI is not the ‘end of work’, but rather the rapid and uncontrolled transformation of certain occupations,” Gymrek tolf IPS. “…The real challenge is to manage this transformation in a way that ensures job quality and prevents a widening of social, gender, and income inequalities.”

However, this year’s edition states that roughly one in four workers worldwide are at risk of automation due to generative AI, marking a significant increase from the 2023 edition. Additionally, higher-income countries are estimated to be at a higher risk of widespread automation.

It has also been found that workers in clerical fields are most commonly exposed to automation. Many of the responsibilities of these jobs, such as filing paperwork, scheduling appointments, answering phone calls, and managing records, can be facilitated much more efficiently by AI systems. In fields where technology already plays a key role, such as media, software and finance, AI is also effecting change.

“While most jobs still need human input, how much a job changes also depends on how digital it already is. Software development, for example, is already closely tied to AI and digital tools, so it may evolve further with GenAI. But jobs like administrative support in small offices, where digital tools are used less often, could face bigger disruptions – either because individual tasks get replaced by GenAI, or because entirely new tools are introduced that automate the whole workflow,” said Gmyrek.

Other office jobs such as media developers and software specialists have been greatly impacted, showing higher averages in terms of automation. This has been attributed to the increase of functional capability that generative AI systems have developed in the past two years. AI systems have improved in terms of media processing power and decision-making, allowing them to handle a much broader range of tasks than ever before.

Despite this, the report shows that in clerical fields, there are certain responsibilities that can only be handled by humans. The report underscores that as technological advancements develop and impact global industries, new roles are expected to emerge.

On the other hand, it is believed that specialized positions such as jobs in maintenance, installation, repair, construction, food production, and personal care, face the lowest average risks of AI exposure. According to figures from the North Carolina Department of Commerce, Labor, & Economic Analysis Division (LEAD), occupations involving physical labor have much lower average exposure scores than clerical positions. Generative AI is less effective in industry-specific roles making the full extent of its impacts on these fields unknown.

According to the ILO report, nearly all countries are at equal risk of job augmentation from the rise of generative AI, indicating that the world has the ability to harness the increased efficiency from AI in a beneficial way that doesn’t harm workers. However, higher-income countries on average show the highest average rates of exposure to AI automation, with around 5.5 percent risk. Lower-income countries are only at a 0.4 percent risk.

Automation as a result of generative AI usage generally affects women at significantly higher rates than men. This gender disparity is attributed to the fact that women tend to work in high-exposure jobs more commonly than men. ILO estimates that high-exposure jobs compose approximately 9.6 percent of female jobs, compared to 3.5 percent among men.

Despite these disparities, it is imperative that policymakers and corporations around the world remain dedicated to facilitating a smooth and fair transition, one that harnesses the new advancements in efficiency and values human labour. Furthermore, ILO emphasizes the importance of social protections for workers as human labour is indispensable for situations that require specialized practice, ethical considerations, and creativity. They warn that without these considerations, and if efforts are not made for the workforce to evolve with generative AI and integrate new tasks, then even partial automation could lead to a decline in overall job demand in the fields with high exposure to AI automation.

IPS UN Bureau Report

 


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As Climate Change Threatens, Maldives Is No Island Paradise

As tourism booms in the Maldives, climate change is creating a water crisis for islanders—exposing deep inequalities and human rights concerns

Climate change impacts, are already placing a considerable strain on the Maldives’ natural freshwater sources, like groundwater and rainwater. Credit: Shutterstock

By Robbie Newton
GENEVA, May 26 2025 – Every year, thousands of couples choose to spend their honeymoon in the Maldives. Tucked in the Indian Ocean, this tropical atoll nation consistently ranks among the world’s most desirable destinations for newlyweds.

But beyond the crystal-clear waters and pristine, white-sand beaches, local communities are facing a far harsher reality: a growing water crisis driven by climate change. While tourists sip cocktails in overwater bungalows, some neighboring islands are literally running out of fresh water.

Tourism accounts for more than 20 percent of Maldives’ GDP and is likely to grow, with President Mohamed Muizzu recently visiting the United Kingdom to promote a new “Visit Maldives” campaign. But the boom in tourism belies the looming existential crisis facing this South Asian nation.

Climate-financing countries have an obligation under the Paris Agreement, the international treaty on climate change,  to provide “continuous and enhanced” financial support and technical assistance to small island nations, like the Maldives, that bear the brunt of a global climate crisis

Scattered across 1,192 islands and 26 atolls, the Maldives is the world’s lowest lying country. The majority of its islands are less than half a meter above sea-level and scientists warn that at the current rate of climate change, large swathes of the Maldives archipelago could become uninhabitable by 2050.

An even more immediate threat is the lack of access to clean, safe, and affordable water. Climate change impacts, such as saline intrusion, sea-level rise, and drought, are already placing a considerable strain on natural freshwater sources, like groundwater and rainwater.

While resort islands and urban centers – like the capital, Malé – benefit from desalination, imported bottled water, and more sophisticated water infrastructure, many remote islands face shortages as rainwater tanks are drying up and groundwater is becoming increasingly saline and contaminated.

The Maldives’ tourism secret to success could well be its 1978 “one island, one resort” policy, offering a unique sense of exclusivity and privacy to its 130 resort islands. However, that image sold to tourists is world’s away from the lived reality of many Maldivians. It has meant that the honeymooner or social media influencer can remain blissfully unaware of the water crisis that may be playing out on a neighboring non-resort island.

A recent Human Rights Watch report focusing on two islands affected by water shortages, Kanditheem and Nolhivaranfaru, found that despite government efforts to address water shortages, many marginalized communities still face significant barriers to accessing clean, safe, and affordable water.

On both islands, the Maldivian government recently initiated water projects, supported by climate funding, to introduce Integrated Water Resource Management systems, combining desalination, rainwater harvesting, and groundwater recharge to diversify the islands’ water sources.

While they look good on paper, these projects have suffered from systemic faults that have exacerbated inequalities in accessing water in the Maldives. Issues include inadequate consultations with affected communities, poor government monitoring, and elevated water bills for users. Islanders on Nolhivaranfaru said that many of the houses that were meant to be covered by the project lacked water connections for over two years after the project was initiated.

This caused islanders to continue relying on groundwater, even though they said it was “foul-smelling” and believed it to be contaminated. In Kanditheem, the water system, which should have been completed over two and half years ago, still lacks a functioning water testing lab despite it being a regulatory requirement.

Having historically relied on rainwater and groundwater, which were largely free, islanders are now forced to incur an additional financial burden – in a context where they’re already very stretched.

Agricultural workers are particularly affected. A farmer on Kanditheem said that if the groundwater becomes too saline, they won’t be able to afford to pay for desalinated water for irrigation and would lose their livelihoods.

The remote outer islands in the Maldives have higher poverty rates than the more populated islands like Malé and Addu. In addition, communities living on these islands are often not adequately consulted about key decision-making processes, including surrounding development projects on their own islands.

The result is that infrastructure projects like these often suffer from chronic shortcomings and risk widening existing inequities within the country, instead of narrowing them.

The climate crisis is not a distant reality to island communities in the Maldives – it’s an everyday struggle, which requires the support of the international community. Climate-financing countries have an obligation under the Paris Agreement, the international treaty on climate change,  to provide “continuous and enhanced” financial support and technical assistance to small island nations, like the Maldives, that bear the brunt of a global climate crisis.

High-income governments should also create the conditions globally for the Maldives and similarly situated countries to have the fiscal space to raise resources to fund climate adaptation measures like water projects.

At the same time, the Maldives government has an obligation under international and domestic law to provide access to water for all its people. To do this effectively, it should ensure that its climate adaptation efforts protect the rights of those most affected by the climate crisis, including by addressing systemic problems that have led to inequities in Maldivians’ access to water.

Robbie Newton is a senior Asia coordinator at Human Rights Watch.

 

 

CERE DEADLINE NOTICE: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Cerevel Therapeutics Holdings, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important June 3 Deadline in Securities Class Action – CERE

NEW YORK, May 26, 2025 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds persons or entities that (1) sold or otherwise disposed of the publicly–traded common stock of Cerevel Therapeutics Holdings, Inc. (NASDAQ: CERE) during the period from October 11, 2023 through August 1, 2024, inclusive (the “Class Period”); (2) held shares of Cerevel as of the January 8, 2024 record date and were entitled to vote on the merger of Cerevel and AbbVie Inc.; and/or (3) sold shares of Cerevel stock contemporaneously with Bain Capital’s purchase of shares on or about October 16, 2023, of the important June 3, 2025 lead plaintiff deadline.

SO WHAT: If you sold and/or held Cerevel common stock you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Cerevel class action, go to   https://rosenlegal.com/submit–form/?case_id=37997 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 3, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition.  Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements in connection with Cerevel’s October 16, 2023 secondary stock offering and in its January 18, 2024 proxy statement. As alleged in the complaint, the secondary stock offering was orchestrated by Cerevel’s controlling shareholders, Bain Capital, LP and Pfizer Inc., to allow Bain to increase its position in Cerevel at a deeply discounted price in advance of AbbVie Inc.’s undisclosed forthcoming acquisition of Cerevel.  Just 51 days after the offering, Cerevel publicly announced that AbbVie agreed to acquire Cerevel for $45 per share – i.e., nearly double the offering price – and Bain’s discounted purchases from the offering resulted in it receiving a windfall of more than $120 million. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Cerevel class action, go to https://rosenlegal.com/submit–form/?case_id=37997 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
[email protected]
www.rosenlegal.com


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