CASETiFY Unveils Newest Addition to Luggage Collection
Axonify Uncovers the Training Disconnect Facing Gen Z Frontline Workers
NYSE Content Advisory: Pre-Market update + NYSE celebrates 233 years forward
Ping An #1 in Brand Value Among Global Insurance Companies in BrandZ 2025 Ranking
Baozun Schedules Annual General Meeting of Shareholders
CrediLinq Secures $8.5M Series A to Scale AI-Powered B2B Embedded Finance
From Affordable Premiums to Holistic Care, Policybazaar Unveils Comprehensive Solutions for NRIs and Their Families in India
RLX Technology Announces Unaudited First Quarter 2025 Financial Results
Noah to Report First Quarter 2025 Unaudited Financial Results on May 28, 2025
The "Yiwu 415 Wealth Creation Event" has attracted a lot of global buyers to Yiwu
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Entrepreneur Universe Bright Group Reports First Quarter 2025 Financial Results
XI'AN, China, May 16, 2025 /PRNewswire/ -- Entrepreneur Universe Bright Group ("EUBG" or the "Company"), a Nevada corporation, today announced its unaudited financial results for the quarter ended March 31, 2025. Financial Highlights - Revenue: $961,954 for Q1 2025, representing a 23.7% decrease compared to approximately $1.26 million for the same period in 2024.- Net Income: $183,485 in Q1 2025, down 50.9% from $373,496 in Q1 2024.- Total Comprehensive Income: $185,195, compared to $308,889 in the prior year period.- Cash Position: Cash and cash equivalents were approximately $8.91 million as of March 31, 2025. Business Overview EUBG provides digital marketing consultancy services through its wholly-owned PRC subsidiary, Xi'an Yunchuang Space Information Technology Co., Ltd. The Company specializes in helping startups and small businesses enhance brand recognition and improve sales via online platforms. Strategic Outlook EUBG continues to focus on high-value digital advisory services and platform-based solutions. The Company aims to expand offerings in brand consulting, omni-channel e-commerce integration, and performance-based marketing campaigns. Management Commentary Mr. Guolin Tao, CEO of EUBG, stated: "In response to a continuously evolving market landscape, we have prioritized operational agility and resource realignment to enhance service quality and client outcomes. As part of this approach, we are actively optimizing our service portfolio with a focus on performance-driven marketing and integrated brand strategy consulting. This strategic adjustment underscores our long-term commitment to building a more resilient and sustainable consultancy platform. We believe this proactive positioning will further strengthen our core competitiveness and support future growth." About Entrepreneur Universe Bright Group Entrepreneur Universe Bright Group is a Nevada holding company that conducts its operations through its wholly-owned subsidiaries in Hong Kong and mainland China. The Company primarily engages in consulting, sourcing, and marketing services in China with support from its Hong Kong subsidiary. EUBG is committed to providing business consulting services across multiple markets in China. For more information, please visit: www.eubggroup.com.mainland Safe Harbor Statement This press release contains projections and "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995 related to the Company's business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are not historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from those discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; future business development; financial condition and results of operations; product and service demand and acceptance; competition and pricing pressures; changes in technology; government regulations; fluctuations in economic and business conditions in China; and assumptions underlying or related to any of the foregoing and other risks contained in the Company's filings with the SEC. Investors are cautioned not to place undue reliance on any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
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Pan Pacific Hotels Group Unveils Transformation of Pan Pacific Perth
The asset enhancement initiative is part of the Group's long-term strategy in positioning its properties as market leaders in the luxury sector SINGAPORE, May 16, 2025 /PRNewswire/ -- Against the backdrop of a resurgent travel sector and evolving guest expectations, Pan Pacific Hotels Group (PPHG) has unveiled a landmark transformation of Pan Pacific Perth. This significant investment builds on the Group's global asset enhancement initiative strategy, which began in 2021 with the opening of award-winning Pan Pacific London. The hospitality arm of Singapore-based UOL Group Limited, PPHG continues to bring its vision of graceful luxury to life through a juxtaposition of bold and inspired designs, enhanced signature services, and sustainable innovation. Pan Pacific Perth's transformation includes enhancements to its lobby (above), convention venues, rooms and club lounge. With 488 guest rooms and suites, Pan Pacific Perth is the largest of PPHG's six properties in Australia and a flagship expression of the brand. Designed by renowned FDAT Architects, the hotel's refreshed interiors, redesigned lobby, and elevated Pacific Club Lounge draw inspiration from Western Australia's natural landscapes, delivering memorable experiences by thoughtfully adapting to local contexts. As part of its commitment to responsible tourism, PPHG has integrated sustainable design into the transformed Pan Pacific Perth. Innovative features include decorative panels made from repurposed denim, hand-pressed natural herbs, and 100% recycled plastics—each crafted to reduce waste and celebrate natural materials through multi-sensorial experiences, aligning with the group's broader sustainability goals. PPHG was recently recognised as the first hospitality brand in Oceania to receive the Global Sustainable Tourism Council (GSTC) Multi-site certification for all six of its Australian properties, underscoring its leadership in sustainable hospitality. Its expansive 2,500sqm convention floor, the largest in Perth, has been upgraded with advanced LED screens and cutting-edge audiovisual technology. Offering versatile room configurations and seamless professional support, the space is designed to accommodate a wide range of business events, conferences, and social occasions with precision and ease. Choe Peng Sum, CEO of Pan Pacific Hotels Group, said: "Australia is one of PPHG's most strategically important markets, with six owned and managed properties across three states. Our investment in Pan Pacific Perth is a commitment to the city's evolving position as a West Coast events and business hub. Backed by a national tourism rebound and Perth's upcoming AU$5 billion airport redevelopment1, the hotel is strategically positioned to meet the city's growing demand for premium travel and event experiences." Deepening Presence in Key Markets PPHG is investing heavily in asset enhancement initiatives across its Australian portfolio, ensuring each property evolves in step with changing consumer expectations and elevated brand standards. PARKROYAL Melbourne Airport has recently completed a comprehensive enhancement of its 276 guest rooms, conference facilities, and public areas. It is the only airport hotel that offers direct access to both Melbourne International and Domestic Airports via covered sky bridges. PARKROYAL Parramatta, Sydney has undergone significant upgrades, including the revitalisation of its 286 guest rooms and meeting and event spaces. Staying true to the PARKROYAL brand, the hotel remains deeply rooted in its community, reflecting the vibrant culture and rapid transformation of one of Australia's fastest-growing economic regions. These properties' enhancements come at a time of renewed momentum in Australia's tourism and MICE sectors. According to the Australian Trade and Investment Commission, international tourist arrivals are expected to rise by 41% between 2024 and 2028. Arrivals from Singapore alone have grown by over 40% between 2022 and 20242—a trend projected to continue. Meanwhile, bolstered by its world-class event infrastructure, government support and increasing demand for sustainable and flexible event solutions, Australia's MICE industry is forecast to grow at a robust 11.5% from 2024 to 2032, reaching USD 42.8 billion3. Melbourne and Sydney continue to lead as key hubs for MICE activities, presenting a strong opportunity for PPHG as it expands its offerings to meet the demands of both leisure and business travellers. "Across our hotels in Australia, we are enhancing meeting spaces to be more flexible, investing in technology for hybrid delivery, and enhancing F&B offerings to support diverse events. The ability to deliver consistent high-level MICE experiences across markets from Singapore to Australia and the UK is a strength of our integrated owner-operator model." Choe Peng Sum added. With an established footprint in Australia, PPHG owns and/or manages six properties in Australia: Pan Pacific Melbourne; Pan Pacific Perth; PARKROYAL Darling Harbour Sydney; PARKROYAL Melbourne Airport; PARKROYAL Parramatta Sydney and PARKROYAL Monash Melbourne. These properties cater to business and leisure travellers, offering trusted hospitality in key urban centres and travel hubs. About Pan Pacific Hotels Group Pan Pacific Hotels Group is a global hospitality company that owns and manages over 50 hotels, resorts, and serviced suites comprising three brands - Pan Pacific, PARKROYAL COLLECTION, and PARKROYAL in more than 30 cities across Asia Pacific, North America, Africa and Europe. Headquartered in Singapore, it is a member of Singapore-listed UOL Group Limited. Pan Pacific Hotels and Resorts delivers sincere and graceful service to every guest with a passion for excellence. PARKROYAL COLLECTION Hotels & Resorts is driven by our passion for life and sustainability. PARKROYAL Hotels & Resorts is distinguished by its passion for people and places, immersing every guest into local and authentic cultures. Visit www.panpacific.com. About Pan Pacific DISCOVERY Pan Pacific DISCOVERY is a loyalty programme designed to enhance every guest experience. Members can savour the benefits of DISCOVERY Dollars (D$), a user-friendly digital rewards currency, granting exclusive discounts on room rates, dining experiences, and more. With each tier progression, members elevate their status to unlock enhanced privileges and the opportunity to earn and spend D$ on premium hotel amenities and experiences, including Pan Pacific Hotels Group-owned dining outlets worldwide. Pan Pacific DISCOVERY is a member of the Global Hotel Alliance (GHA), the world's largest alliance of independent hotels with 40 brands and over 800 hotels around the world. To become a member, visit panpacific.com. 1.Perth Airport redevelopment set for take-off, Western Australian Government 2. Stat Data Explorer (BETA) • Visitor arrivals and resident returns, Selected Countries of Residence/Destinations 3. Australia MICE Market Size, Share & Trends, Report 2033
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U Power Limited Announces Filing of 2024 Annual Report with the U.S. Securities and Exchange Commission
SHANGHAI, May 16, 2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), through its operating subsidiaries, is a vehicle sourcing services provider with a vision to becoming a comprehensive electric vehicle (EV) battery power solution provider in China, today announces that, on May 15, 2025, the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 ("Form 20-F"), with the U.S. Securities and Exchange Commission (the "SEC"). 2024 Financial Highlights The Company achieved revenue growth of 124% year-over-year in fiscal 2024 to RMB44.29 million (US$6.16 million). Net profit margin improved from -248% to -130%, reflecting enhanced operational efficiency and progress toward profitability. Debt-to-asset ratio decreased from 19.7% to 16.7% as of December 31, 2024, reflecting a reduced reliance on external financing. This improvement strengthens Company's financial stability and enhances flexibility for future strategic initiatives. "In fiscal year 2024, U Power achieved 124% year-over-year revenue expansion," said Mr. Jia Li, Chairman and Chief Executive Officer of U Power Limited. "During the year, we forged strategic partnerships in Thailand, Portugal, Hong Kong (China), Peru, and Mexico. We believe these collaborations will catalyze global EV adoption and position U Power as a provider of scalable, reliable battery-swapping solutions. Looking ahead, we expect to accelerate our international rollout of our UOTTA™ battery-swapping platform." "Supported by our financial discipline and growing international footprint, we remain confident in our path to profitability and long-term value creation for shareholders," added Ms. Bingyi Zhao, Chief Financial Officer of U Power Limited. Annual Report U Power's Form 20-F is available on the SEC's website at www.sec.gov or on the Company's investor relations website at https://ir.upincar.com. Shareholders may also request a free hard copy of the Form 20-F, which includes the Company's complete audited financial statements, by contacting the Company at the address provided below. About U Power Limited U Power Limited, through its operating subsidiaries in China, is a vehicle sourcing services provider, with a vision to becoming a key player in the EV market, primarily focused on its proprietary battery-swapping technology, or UOTTA technology, which is an intelligent modular battery-swapping technology designed to provide a comprehensive battery power solution for EVs. Since beginning its operations in 2013, the Company has established a vehicle sourcing network in China's lower-tier cities. The Company has developed multiple types of battery-swapping stations for compatible EVs and currently operates one manufacturing factory in Zibo City, Shandong Province, China. For more information, please visit the Company's website: https://www.upower-limited.com/ Safe Harbor Statements This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Contact U Power Limited Investor Relations Department Email: ir@upincar.com
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CICC Expands Its Global Footprint with Official Launch of DIFC Branch
DUBAI, UAE, May 15, 2025 /PRNewswire/ -- On May 15th, 2025, China International Capital Corporation Limited ("CICC"), China's leading investment bank, officially launches its branch in Dubai International Financial Centre ("DIFC"), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA). The new branch operates under China International Capital Corporation Hong Kong Securities Limited (Trade name: CICC (DIFC Branch)) ("CICC DIFC Branch"), holds a Category 4 license and regulated by the Dubai Financial Services Authority (DFSA). DIFC is a strategic gateway for the region for Chinese financial institutions and multinational firms. The biggest names in the Chinese banking and financial services industry have made their presence in DIFC, out of which 30 per cent are Fortune 500 companies. As economic ties expand between the UAE and China, DIFC is committed to offering a well-developed platform that will help Chinese business expand and scale within the Middle East, Africa and South Asia region. Dubai's specific plans for the adoption of artificial intelligence in every sector with the support of the DIFC's Dubai AI Campus is synergistic with China's advanced research and technology development capabilities. Chen Liang, Chairman of CICC, said: "The opening of the CICC DIFC Branch marks a significant milestone in our international expansion strategy. CICC remains committed to delivering innovative financial solutions that facilitate cross-border capital flows and foster deeper economic ties between China and key global markets. From UAE, a key gateway for the Gulf region, we will build tailored solutions to serve regional clients 'evolving needs' while supporting Chinese enterprises seeking strategic opportunities abroad, contributing financial momentum to the high-quality development of the Belt and Road Initiative." His Excellency Essa Kazim, Governor of DIFC, said: "We are delighted to welcome CICC to DIFC, bolstering the strategic relations between the UAE and China. Dubai and DIFC remain a top destination for Chinese investments, further accentuated by a surge in interest from banks, wealth and asset management firms, large corporations, and insurance sector market players. It underscores our commitment to offer a vast, well-developed ecosystem to help Chinese businesses expand and scale within the Middle East, Africa and South Asia region, strengthening DIFC's position in shaping the future of finance and boosting excellence in innovation." With Chinese roots and international reach, CICC is committed to providing high-quality and value–added financial services to a diversified set of clients, building up a balanced, full-service model based on research and information technology that empowers investment banking, equities, FICC (Fixed Income, Currencies and Commodities), asset management, private equity, and wealth management businesses. Since its inception, CICC has been at the forefront of China's capital market development, integrating international best practices with local expertise. CICC has actively expanded into global markets, establishing offices in major financial centers such as Hong Kong SAR, New York, London, Singapore, Frankfurt, and Tokyo, reinforcing its international reach. With the launch of the CICC DIFC Branch, the firm is committed to becoming the premier two-way investment banking gateway between China and the Gulf region, leveraging its expertise in facilitating capital flows, structuring cross-border investments and advising on strategic opportunities. The branch will work closely with sovereign wealth funds, financial institutions, major corporations and other partners to help them actively participate in China's capital market projects and strengthen business collaboration between China and the broader Gulf region. About CICC China International Capital Corporation Limited (CICC, 601995.SH, 3908.HK) was established in 1995. Our experience in professional services includes leading several prominent transactions, reflecting our close involvement in China's economic reform and development. Our vision is to become a first-class investment bank with international competitiveness. As an investment bank with Chinese roots and international reach, CICC continues bringing first-class financial services through its extensive network and outstanding cross-border capability to help our clients accomplish their strategic development goals. For further information, please visit our website: https://en.cicc.com/, or follow us on LinkedIn @CICC. About Dubai International Financial Centre Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations. For further information, please visit our website: difc.ae, or follow us on LinkedIn and X @DIFC.
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NYSE Content Advisory: Pre-Market update + Dick's Sporting Goods to acquire Foot Locker
NEW YORK, May 15, 2025 /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 May 15th Equities are fractionally lower early Thursday morning after the S&P 500 booked three straight days of gains following a temporary trade truce between the U.S. and China. This morning, traders will get another read on inflation after the Consumer Price Index earlier this week showed the pace of price gains rising at its slowest annual rate since 2021. Foot Locker (NYSE: FL) shares are soaring this morning after reports that Dick's Sporting Goods (NYSE: DKS) is set to buy the company for $2.4 Billion. Foot Locker's stock jumped more than 80% pre-market. Opening Bell American Tower Corporation (NYSE: AMT) celebrates 30 years of building a more connected world. Closing Bell Copley Acquisition Corp (NYSE: COPLU) celebrates its initial public offering Click here to download the NYSE TV App
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Global Woodworking Leaders to convene in Bangkok this November for the Southeast Asian Woodworking Summit
BANGKOK, May 15, 2025 /PRNewswire/ -- Over 300 global woodworking professionals and industry players are expected to convene in Bangkok for the inaugural Southeast Asia Woodworking Summit 2025 from 13th to 14th November 2025. Global Woodworking Leaders to convene in Bangkok this November for the Southeast Asian Woodworking Summit The Summit is hosted by Thailand's Ministry of Natural Resources and Environment, and supported by the Forestry Industry Organization, the Royal Department and many local and international wood related industry associations and organizations. Organized under the theme "Shaping the Future of Woodworking Industry and Markets in Southeast Asia", the Summit brings together international experts, government players, industry professionals and woodworking businesses to discuss and address issues impacting their woodworking industry and markets, while at the same time, connect and build networks. As the woodworking and furniture industries across Southeast Asia continue to evolve amidst rising demand, global sustainability goals, and technological disruption, the Southeast Asian Woodworking Summit 2025 will offer attendees critical insights into the future of the region's wood-based industries and markets. For over 1 and a-half days, which will culminate in a field trip/factory tour, attendees will get to gain and share insights into global and regional trends, sustainable practices and technologies that are shaping the woodworking industry and markets today. Southeast Asia remains a dynamic hub for the global wood industry, offering abundant natural resources and robust domestic and international demand. However, challenges such as deforestation, labor shortages, supply chain pressures, and international trade policies require coordinated solutions and innovations — all these which the Summit aims to address. An international line-up of renowned industry speakers are been assembled, that will include the likes of Assoc. Prof. Songklod Jarusombuti, Special Advisor, Faculty of Forestry and Head of Center of Academic Excellence in Rubber, Kasetsart University, and Mr. Jirawat Tangkijngamwong, President of Thai Furniture Association/Thai Timber Association from Thailand, Assoc. Prof. Kent Wheiler, Director, Center for International Trade in Forest Products, University of Washington from USA, Mr. Ole Seidenberg, Managing Director, SKYSEED GmbH, Mr. Ingo Bathe, Director International Sales, imos AG, and Mr. Ger Gerdes, Consultant & Expert, Technology Scouting, Mechanical Engineering Industry Association, VDMA, all from Germany, and Mr. Aaron Boo, Managing Director, PYTHA Asia from Singapore, with plenty more speakers to come. The Southeast Asia Woodworking Summit 2025 is organized by the organizer of Thailand International Woodworking & Furniture Exhibition (TIWF), which is a biennial international trade exhibition that takes place in Bangkok every 2 years. The next edition of TIWF will be held in September 2026. This year in 2025, the inaugural Southeast Asian Woodworking Summit 2025 will help to continue to facilitate as the regional industry platform and gathering place for discussions, networking and business exchange. For those in the wood related industry and businesses, Southeast Asian Woodworking Summit 2025 is hence a must-attend event get connected in a regional market that has a thriving woodworking industry. Event Dates: 13th to 14th November 2025Venue: IMPACT Exhibition and Convention Center, Bangkok, ThailandWebsite: https://summit.thailandwoodworking.com/ ABOUT THE ORGANIZERS IMPACT Exhibition Management Co., Ltd is Thailand's leading exhibition organizer. We organize and manage a comprehensive portfolio of professional trade and public exhibitions, conferences, meetings, and training, working hand-in-hand with international trade associations, organizers and corporations across a broad spectrum of industries. IEC Messevertriebs GmbH is a specialized exhibition agency in Germany with proven records in facilitating international exhibitions around the world.
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Legal tactics employed to silence plaintiff as FNZ class action escalates
LONDON, May 15, 2025 /PRNewswire/ - A mounting controversy is unfolding as FNZ, a global leader in financial services, faces a class action and continues to suppress its employee shareholders through legal tactics. In a rapidly escalating dispute, legal representatives for the shareholders have pushed back against FNZ's continued attempts to shut down employee shareholders from engaging with media, saying, "they reveal a bullying approach to Class B shareholders." This follows previous attempts from FNZ to shut down employee shareholders' X account (formerly known as Twitter), which was established to share factual information on the rising issue. The ongoing conflict began with a series of undisclosed constitutional changes by the board that removed protections for ordinary shareholders, then moved to equity issuances to its Institutional and Private Equity shareholders that control the board. Between May 2024 and April 2025, the board undertook three equity raises totalling US$1.5 billion through the issuance of preference shares with 100% - 200% returns, effectively diluting employee shareholders by US$4.5 billion. They also put in place an $8.3 billion valuation threshold, which means employee shareholders will only be able to participate after this valuation is met. FNZ B class shareholders have received several legal letters in as many days in an attempt to stop them from sharing their story. These are the very people that built the company over the past 20 years who are now set to lose everything they have worked so hard for. In response to one of FNZ's legal letters, Class B shareholders' legal representatives at MC stated in their response, "It is hard to see your letter of today as anything other than another attempt to obtain the identities of our clients, in order to put improper pressure on them." Despite the mounting legal intimidation, employee shareholders remain defiant and continue to demand a fair valuation for their shareholding. They are proceeding to file a class action at the end of May against FNZ and its board in the High Court of New Zealand where FNZ is domiciled.
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Bahamas – Private Island Estate & Marina to Sell via Sealed Bid in Icon Global Call for Offers process for Man-O-War Cay- Abacos Bay Jewel - May 15 -
14 Acre Turnkey Island Estate includes 6,500 SQFT main home and 2,200 SQFT guest house, and features a safe harbor marina cut out of solid coral walls, which make for a boater's and fisherman's haven within a hurricane-protected harbor. DALLAS, May 15, 2025 /PRNewswire/ -- Icon Global announces 45-day Call for Offers Bid Process for the Coral Palms Marina Estate, which will take place beginning May 15th through June 30th, 2025. Located on Man-O-War Cay, the island estate is easily accessed via a 15 minute/5-mile boat ride over the Bay of Abaco from Marsh Harbor International Airport. The estate spans the Atlantic to the Sea of Abaco with diverse beaches and attractions on both sides. The 14-acre property, which also features one of only two Abaco private marinas, is being sold turnkey, inclusive of operating equipment, golf carts, furnishings, fishing equipment, diving gear, emergency generators, as well as numerous other non-fixed personal property and sundry items. The property was once listed at $9.9 million prior to the engagement of Icon Global. "This is an exceptional opportunity to bid and buy an incredibly well-designed, superbly, and meticulously maintained property, which has been enhanced over the years with tremendous landscaping (such as the planting of over 4000 trees, including approximately 1,000 Coconut Palms) as well as the installation of numerous other amenities, comforts and systems. Our campaign draws a line in the sand and a call to action for interested bidders, it's not a matter of if it will sell, or when, it's a matter of who it sells to and for how much," stated Icon Global founder Bernard Uechtritz. "Our process allows a buyer to make a winning offer at any time leading up to the final deadline date, and we are currently fielding early interest and scheduling tours," he said. See below for Digital Photos, Video, Brochure, and Web links. Icon Global – Coral Palms Marina – digital book Icon Global – Coral Palms Marina - photos Icon Global – Coral Palms Marina - video Icon Global – Coral Palms Marina - webpage About Icon Global
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CGGI 2025: Financial Stewardship and Global Influence & Reputation are key challenges for governments globally
SINGAPORE, May 15, 2025 /PRNewswire/ -- The 2025 Chandler Good Government Index (CGGI) highlights the challenges and successes of good governance amid a year of major political transitions. Now in its fifth edition, the CGGI evaluates 120 countries using 35 indicators grouped into seven pillars: Leadership & Foresight, Robust Laws & Policies, Strong Institutions, Financial Stewardship, Attractive Marketplace, Global Influence & Reputation, and Helping People Rise. Notably, Singapore retains its top position for the third consecutive year with Nordic countries completing the top 5 (in rank order: Denmark, Norway, Finland, Sweden), maintaining their strong reputation for governance excellence. For the first time, the UAE breaks into the Top 10 and is also the only Middle Eastern country in the Top 20. The country is also the biggest improver globally, largely driven by strides made in the Financial Stewardship and Strong Institutions pillars. China is ranked 41st in 2025 and is one of only five countries to have achieved consistent year-on-year score improvements since 2021, reflecting a steady momentum. The United States is one of the two G7 countries not ranked within the Top 20, placing at 23rd. Its performance was significantly pulled down by its weaker performance in the Financial Stewardship pillar, which looks at areas such as spending efficiency and country budget surplus. Financial Stewardship saw the sharpest global decline since 2021, reflecting post-pandemic budget constraints, persistent debt, and efficiency challenges. Only 26 of 104 countries improved in this pillar, underscoring a widespread governance concern. Global Influence & Reputation also dropped significantly in the last year. Weaker diplomatic engagement and shifting geopolitical norms are reshaping how countries build partnerships and external trust. Still, there are signs of momentum: 73 countries improved their CGGI scores between 2024 and 2025, more than double the number that declined (33). Strengthening institutional capacity was a key driver, with countries like Mongolia, Vietnam, and Jordan making notable progress—proving that resource levels are not the sole determinant of effective governance. "Government capabilities matter. This year's results continue to show a strong relationship between government capabilities and a country's attainment of outcomes that are important for individuals' lives and livelihoods, such as education, employment and health," said Kenneth Sim, Managing Director (Strategy & Research), Chandler Institute of Governance. More information about CGGI and the Full 2025 CGGI Report: https://chandlergovernmentindex.com/wp-content/uploads/2025-Chandler-Good-Government-Index-Report.pdf
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Raiven Capital Joins Middle East Venture Capital Association (MEVCA)
PALO ALTO, Calif., TORONTO and DUBAI, May 15, 2025 /PRNewswire/ -- Raiven Capital, a global early-stage venture capital firm, is pleased to announce its membership in the Middle East Venture Capital Association (MEVCA)—the premier organization supporting the growth of venture capital and innovation across the region. MEVCA Building This milestone marks Raiven's continued commitment to investing in startups in Gulf Cooperation Council (GCC), following the launch of its second Dubai Financial Services Authority (DFSA) licensed fund based in the Dubai International Financial Centre (DIFC). "Raiven is honored to join MEVCA, the leading platform for VCs in the region," said Paul Dugsin, Co-Founder of Raiven Capital. "We believe in building ecosystems, not just portfolios. MEVCA gives us a platform to collaborate with like-minded investors, founders, and changemakers driving the region's future." "We're delighted to welcome Raiven Capital to the MEVCA community. Their global perspective, combined with deep operational expertise, adds tremendous value to the region's growing VC landscape. Raiven's commitment to supporting founders and fostering collaboration aligns perfectly with MEVCA's mission to connect and strengthen the venture ecosystem across the region." — Omar AlKhawaja, Vice Chairman, MEVCA Raiven's expansion into the Middle East complements its global footprint. The firm's first fund, launched in Toronto and Silicon Valley, was ranked in the top 10% of North American funds, in a 2025 survey of 1,800 VC firms by Carta Fund Services. "We're seeing world-class founders and breakthrough ideas across the Middle East," said Supreet Manchanda, Co-Founder. "Our operator-investor team is deeply engaged in helping startups achieve product-market fit, scale efficiently, and create long-term value. MEVCA is a key enabler in that journey." As Raiven builds strong relationships across the GCC, the firm is focused on its core mission: investing in bold founders building the future with AI, IoT, and other new technologies. Check out our new and improved website at raivencapital.com that reflects our market and fund expansion. About MEVCA The Middle East Venture Capital Association (MEVCA) aims to serve the Middle East's entrepreneurial and investment community through a concerted effort to advance the region's venture capital industry and greater entrepreneurial ecosystem. About Raiven Capital Raiven Capital is a global VC, investing at the intersection of Artificial Intelligence, Internet of Things, and operational transformation. With hubs in Silicon Valley, Toronto, and Dubai, Raiven has delivered multiple successful exits since 2020. Its portfolio spans AI, IoT, deeptech and digital platform companies driving systemic change.
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Mastercard Economics Institute on Travel in 2025: Asia-Pacific leads trending summer destinations for second year running
Tokyo and Osaka top the list of summer hot spots while Nha Trang makes its debut Currency fluctuations are a key consideration for travelers SINGAPORE, May 15, 2025 /PRNewswire/ -- Asia-Pacific is home to eight of the world's top 15 trending summer travel destinations, according to Travel trends 2025, the annual Mastercard Economics Institute (MEI) report on consumer spending in the travel economy. While exchange rates and geopolitical dynamics can influence behavior, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Drawing on a unique analysis of aggregated and anonymized transaction data and third-party data sources, the report uncovers what is shaping travel choices today. Highlights from the Asia-Pacific region include: Asia leads trending summer destinations Japan leads the pack—with Vietnam's Nha Trang rising fast: Tokyo and Osaka are the world's #1 and #2 top trending destinations for summer travel (June-September 2025), with the two largest increases in tourism demand relative to previous levels[1]. In 2024, Japan's capital city climbed from the number two spot that it held in 2023 to lead global travel demand heading into the peak summer season, reflecting its continued appeal. Meanwhile, Nha Trang in Vietnam made a surprise entry into the list, climbing in popularity thanks to its beautiful beaches, enviable coastline and vibrant nightlife. China and India—still Asia's travel titans: The Chinese Mainland retained its position as the world's largest outbound travel market in 2024. Chinese travelers are increasingly prioritizing value and visa-friendly destinations including Japan, Malaysia, and Singapore. Interest in Central Asian destinations such as Kazakhstan, Uzbekistan, and Kyrgyzstan is also increasing. India again posted the country's highest number of outbound travelers on record in 2024. Indian tourists are exploring a broad mix of destinations—the top three being Abu Dhabi, Hanoi, and Bali—with growth supported by expanded direct flight connections and a rapidly growing middle class that is eager to travel. Together, the two markets continue to play an outsized role in shaping global travel flows. Experiences over itineraries: Across Asia-Pacific, travelers are prioritizing dining, nature, and wellness as key motivators for travel, seeking meaningful moments over traditional sightseeing. Destinations like Gianyar in Bali, Indonesia, known for its iconic Babi Guling spit-roasted pork, and Queenstown in New Zealand—where restaurants welcomed tourists from 44 countries in 2024—are standing out as globalized culinary hotspots. According to MEI's Wellness Trend Index[2] (WTI), Thailand is among the destinations leading the way in relaxation experiences and self-care, where visitors can reconnect with nature in immersive eco lodges or find calm in meditation retreats. At the same time, the rising WTI score for New Zealand suggests a growing effort to be part of this popular movement. Overall, the trend toward purpose-driven travel reflects people's broader desire for experiences that nourish both body and spirit. Sports fandom fuels travel: The rise of sports tourism continues, with major events like the Australian Open tennis tournament and Baseball World Series in Los Angeles drawing significant international spend. Shohei Ohtani's World Series debut saw spending by Japanese visitors surge by 91%, six times the broader cross-border boost, highlighting how sporting events are proving to be powerful travel catalysts for fans. David Mann, chief economist, Asia Pacific, Mastercard, said: "The Asia-Pacific region continues to set the pace for global travel, with buzzing destinations like Tokyo, Shanghai, Seoul, and Singapore capturing the imagination of travelers around the world. Even as economic uncertainty persists, travel remains a bright spot—driven by people seeking meaningful, value-driven experiences. From exchange rates to regional accessibility, travelers are making smarter, more intentional choices about where they go and why, with a clear shift toward more personal, purposeful journeys." Travelers from Asia-Pacific tend to be more sensitive to exchange rate shifts. A weaker yen throughout much of 2024 played a significant role in boosting Japan's inbound tourism, making the country a compelling destination for visitors in search of value. Notably, a 1% depreciation of the JPY against the RMB is associated with a 1.5% increase in tourists from the Chinese Mainland. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. In 2024, the number of Singaporean visitors to Japan hit record highs — thanks to a 40% rise in the Singapore Dollar (SGD) vs. Japanese Yen (JPY), even as airfare and hotels got pricier. Turning to the U.S., MEI's analysis shows that tourists from India, Singapore, South Korea, and Taiwan are particularly sensitive to exchange rate fluctuations, after accounting for other factors. Specifically, a 1% depreciation of the United States Dollar (USD) against their local currencies corresponds to an approximate 0.6–0.8% increase in the number of tourists traveling to the U.S. These findings, consistent with our earlier analysis of tourism to Japan, suggest that these travelers are more responsive to exchange rate movements when selecting outbound destinations. The shifting sands of business travel: Corporates today are limiting global travel in favor of regional trips. And while people are taking fewer business trips overall, the average duration is longer, suggesting efforts to stretch travel budgets. For example, U.S.-based travelers' trips to Asia-Pacific increased from 8.8 days[3] to 10.2 days[4]. Travel fraud demands a safer, smarter travel ecosystem. According to MEI, fraud in popular tourist destinations spikes up to 28% during peak seasons. Common scams include inflated charges in restaurants and taxis, fake tour companies, and fraudulent property listings. To combat these, Mastercard employs advanced fraud prevention technologies, including digital wallets and AI-driven systems, to protect travelers. This ensures that travelers can focus on their journeys without worrying about security threats. "This report is designed to offer a clearer view of how consumer behaviors are evolving—and what that means for tourism growth," added Mann. "By turning data into actionable insights, the Mastercard Economics Institute aims to support the travel ecosystem in making smarter decisions that drive stronger tourism strategies, better traveler experiences, and more resilient economic outcomes." View the "Travel Trends 2025: Purpose-driven journeys" report here and other insights from MEI, here. About the Mastercard Economics Institute The Mastercard Economics Institute provides insights into global and local economic trends using advanced analytics and Mastercard's proprietary data assets. Established in 2020, MEI supports businesses, governments, and policymakers with economic monitoring services and timely analysis on economic themes including consumer spending, retail and travel trends, and other local and global barometers of economic performance. MEI offers valuable perspectives to inform decision-making and promote sustainable growth worldwide through our thought leadership series, and through Mastercard's specialized product offerings. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.www.mastercard.com [1] OAG flight booking data for travel bookings Jan-Mar 2025 [2] WTI is calculated using the share of cross-border accommodation spending at wellness-related merchants, multiplied by each country's share of global wellness-related accommodation transaction [3] Feb 2019-Feb 2020 [4] Mar 2024-Mar 2025
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FOR SALE BY EXPRESSION OF INTEREST: Freehold Non-Conserved Commercial Building at 562 Serangoon Road
SINGAPORE, May 15, 2025 /PRNewswire/ -- Brilliance Capital Pte. Ltd. is proud to present to the market an exceptionally rare opportunity to acquire a freehold commercial building with individual strata titles per floor at 562 Serangoon Road, a highly visible and well-positioned property located in the heart of one of Singapore's most vibrant and culturally rich city fringe districts. FOR SALE BY EXPRESSION OF INTEREST: Freehold Non-Conserved Commercial Building at 562 Serangoon Road This four-storey commercial property occupies a land area of approximately 2,336 square feet and offers a total floor area of approximately 7,453 square feet, with individual strata titles for each level. The building presents a rare opportunity to acquire a freehold, non-conserved commercial asset with approved F&B use on the ground floor, making it highly attractive for a variety of investor profiles including owner-occupiers, landlords, corporates, hospitality operators, and family offices. What truly distinguishes this property is its non-conserved status, an exceptional rarity along this stretch of Serangoon Road that is otherwise lined with conserved shophouses under architectural controls. As a Non-Conserved Envelope Control Site within a Secondary Settlement and zoned "Commercial" under the 2019 URA Master Plan with a plot ratio of 3.0, the site offers the buyer maximum flexibility to reconfigure, reposition, or redevelop the property to suit modern business needs. Subject to authorities' approvals, this opens the door to future-proofed uses such as serviced apartments, co-living residences, lifestyle clinics, co-working spaces, or creative concept showrooms, depending on owner and/or tenant demands and market trends. Adding to its desirability is the building's ground-floor restaurant use approval, a tightly regulated designation in many central precincts. With F&B use already in place, owners can either operate their own flagship outlet or command premium rents from established tenants seeking main-road visibility in a city-fringe location. The building's strata title per floor enhances its long-term investment appeal, offering flexibility for multi-use configurations or future strata divestment. This structure gives investors the freedom to either hold and lease the building as a whole or sell individual floors strategically over time. Few commercial properties in Singapore today combine such flexibility, rarity of tenure, and redevelopment potential in one asset. The guide price is set at a palatable S$23.5 million, in line with the latest valuation, offering exceptional value for a freehold standalone commercial building in a city-fringe locale with such versatile attributes. Strategically located within a five-minute walk from both Farrer Park MRT Station and Boon Keng MRT Station (North-East Line), the property enjoys excellent connectivity and exposure, situated directly along Serangoon Road which is a major arterial road that channels strong pedestrian and vehicular traffic daily. The site is also well connected to key expressways including the CTE and PIE, and is within a short drive to popular areas such as Little India, Farrer Park, Bidadari, and the Kallang Riverside precinct. Shopping malls such as City Square Mall and Mustafa Centre Mall are within a short walk, providing convenient access to daily essentials, dining, and entertainment. The area is also anchored by established medical and wellness hubs including Connexion at Farrer Park, an integrated healthcare and hospitality development comprising Farrer Park Hospital and One Farrer Hotel, as well as the Kwong Wai Shiu Hospital nearby. These major facilities not only draw a steady stream of visitors and medical tourists, but also support demand from wellness, aesthetic, and specialist clinics. Additionally, lifestyle enclaves such as Little India, Kampong Glam, and the emerging Boon Keng–Bendemeer precinct inject vibrancy into the district, while surrounding residential estates including HDB clusters in Whampoa and Boon Keng, and private developments like City Square Residences, Sturdee Residences, and 8 Riversuites, ensure a constant local population that drives daily footfall and commercial demand. The broader Serangoon–Boon Keng–Lavender corridor is undergoing steady transformation, with new residential projects, community upgrades, and commercial developments on the horizon. This evolving landscape is expected to uplift overall land values and rental yields in the district, offering buyers strong future growth potential both in terms of capital appreciation and income. "This is one of those real estate opportunities that checks all the right boxes," says Ms Sammi Lim, Founder and Executive Director of Brilliance Capital Pte. Ltd. "562 Serangoon Road offers freehold tenure, F&B approval, strata flexibility, and the freedom to enhance or reposition the building without conservation constraints. It is truly a rare gem. In today's tightly held urban market, finding a non-conserved commercial asset with such prominence and potential is incredibly rare." She adds, "With its prime location near key districts, 562 Serangoon Road stands out as a highly desirable investment and owner-occupier asset. It offers excellent accessibility, high foot traffic, and strong future growth potential. For investors looking to unlock value over time, or businesses wanting their own city-fringe headquarters with branding visibility and upside, this is an asset not to be missed." The property's pure commercial zoning ensures that the acquisition is not subject to Additional Buyer's Stamp Duty (ABSD) or Seller's Stamp Duty (SSD), a distinct advantage for both local and foreign buyers. This investment is suitable for a wide range of profiles, from private investors, corporates and family offices to developers and institutional funds looking for a unique foothold in central Singapore. Brilliance Capital is the sole marketing agent for this Expression of Interest. The Expression of Interest closes on 9 July 2025, Wednesday at 3:00 p.m. Note to editors:One high-resolution photograph of the properties are enclosed. About Brilliance Capital Pte. Ltd. Brilliance Capital is a premier real estate agency specializing in bespoke advisory and transaction services for high-net-worth individuals, family offices, property developers, and institutions in Singapore and globally. Founded and led by Sammi Lim, a veteran in Singapore's property landscape , our team of top-tier professionals excels in selling and leasing luxury residential, commercial, and industrial properties, as well as collective sales. We also offer tailored consultancy and advisory services, addressing personal, professional, and investment needs with precision and care. Backed by deep market insight and a robust international network, Brilliance Capital is dedicated to building lasting relationships and delivering exceptional real estate outcomes.
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Impact Leaders Convene to Accelerate Impact Investing Momentum across APAC during the SFi Impact Week 2025
SFi reconvenes its third annual regional gathering scaling impact over the course of the week with 250+ family offices, asset owners, impact investors and sustainability pioneers to accelerate purpose-driven capital The 2025 theme "The Power of Momentum: When Capital Meets Purpose" aims to harness the positive environmental and social outcomes achieved through collective actions and efforts of family offices and private investors, to catalyse impact across Investment, Business and Innovation in Asia Pacific and beyond The SFi Impact Summit 2025 is supported by Pictet, Nuveen, J. Safra Sarasin, Wellington Management and InvestHK, and is amplified by a network of over 20 strategic partners HONG KONG, May 15, 2025 /PRNewswire/ -- Sustainable Finance Initiative (SFi) will reconvene Asia Pacific's family offices, wealth owners and impact ecosystem leaders during their annual SFi Impact Week 2025, taking place from 19 to 23 May. This pivotal gathering will unite 250+ key players in the impact space, actively exploring ways to accelerate positive social and environmental change, over an action-packed week of interactive in-person events. Comprised of Family Principals, Asset Owners, NextGen, private investors and ecosystem leaders from around the world, the SFi Impact Week curates a platform to share, learn and collaborate on impact in Asia Pacific and beyond. With over USD1.57 trillion of impact investing assets[1] under management globally, and growing 57% in Asia Pacific in the last five years, the region has become a dynamic hub for impact investors, where strategic deployment of private capital is driving the force for change. Amidst economic uncertainty and escalating environmental challenges, Asia Pacific's family offices and impact investors are proving that financial returns and measurable impact can be powerfully aligned. This strategic shift from niche allocations to mainstream imperatives is unlocking innovative financing models that address the region's most urgent challenges, bridging crucial funding gaps whilst creating new market opportunities aligned to sustainable development priorities. The SFi community is mobilising private capital as a transformative force for change, uniting stakeholders through this landmark gathering to harness their collective conviction and accelerate momentum towards a sustainable future. Katy Yung, CEO of Sustainable Finance Initiative, said: "The momentum for impact investing has never been more timely. Asia Pacific continues to be the region most impacted by climate-related hazards, and rapid urbanisation demands sustainable and inclusive measures to address population needs. SFi Impact Week represents our commitment to mobilise our members' and networks' shared conviction in private capital's power for positive change, to collectively build a better future." The annual flagship event, the SFi Impact Summit 2025, will take place on 21 May in Hong Kong and is supported by partners including Nuveen, Pictet, J. Safra Sarasin, Wellington Management and InvestHK. This pivotal gathering will unite key players in the impact space to actively explore ways to accelerate positive social and environmental change. Building on the success of SFi's previous Impact Summits, this year's gathering aims to unleash and celebrate the collective power of a community possessing both the means and imagination to reshape tomorrow. More than 40 impact investing pioneers from around the world will share their personal journeys and institutional experiences under the theme "The Power of Momentum: When Capital Meets Purpose". Key speakers include: Carol Liew, Managing Director, ECCA Family Foundation, Singapore Chavalit Frederick Tsao, Chairman, TPC (Tsao Pao Chee), Singapore Christina Leijonhufvud, CEO, BlueMark & Co-Founder, Tideline, USA Dan Fitzgerald, Founder and Managing Partner, ReGen Ventures, Australia Dr. Daniel Wild, Chief Sustainability Officer, J. Safra Sarasin, Switzerland Ilaria Chan, Chairperson, Tech For Good Institute, USA Kristina Hermanson, Head of APAC and Africa, Nuveen Natural Capital, Australia Richard Mak, CFA, Head of Product & Business Management - Asia, Pictet Wealth Management, Hong Kong Thomas Knudsen, Principal, Rumah Group, Singapore Yvette Man-yi Kong, Founder & CEO, Arelyx, Hong Kong This year's SFi Impact Week and flagship SFi Impact Summit, provide a forum for candid exchanges amongst leading global family offices, asset owners, private investors and impact pioneers. This gathering will empower participants to learn and share game changing insights that accelerate the momentum of positive transformation, whilst creating long-term, scalable impact across investment, business and philanthropic portfolios. The SFi Impact Summit is also supported by a network of ecosystem partners including: BlueOnion, Cathay, Centre for Sustainable Finance & Private Wealth, Gloucester Luk Kwok, Hong Kong Academy for Wealth Legacy, Hopewell Hotel, New Impact Society, Octave, Parinama, The Hari Hong Kong, The ImPact, The Mills Fabrica, Tsao Pao Chee, and The Upper House. [1] https://thegiin.org/publication/research/sizing-the-impact-investing-market-2024/ — Please refer to the 2025 Summit programme (continual updates) and featured speakers here. About Sustainable Finance Initiative Sustainable Finance Initiative 'SFi' is a global platform created by and for Asia Pacific-focused private investors and changemakers, who believe in mobilising private capital for positive impact. They advise, guide and collaborate with impact driven family offices, asset owners, private investors, and financial services professionals to best position their capital for profit and purpose. About Nuveen About Pictet About J. Safra Sarasin About Wellington Management About InvestHK
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GAR Profits Surge in Competitive Market Environment During the First Quarter of 2025
Net profit for the quarter surged by 47% year-on-year to US$55 million. Growth in plantation output helped to offset softer downstream performance, resulting in a first quarter 2025 EBITDA margin of over 8.5%. SINGAPORE, May 15, 2025 /PRNewswire/ -- Golden Agri-Resources Ltd ("GAR" or the "Company") continued to improve its financial performance in the first quarter of 2025, driven by increased plantation output and appreciation in crude palm oil (CPO) prices. CPO market prices (FOB Belawan) for the quarter averaged US$1,156 per tonne, up 27% from the same period last year. This supported a 19% growth in revenue to US$3.04 billion, offsetting a dip in sales volume during this period. GAR's profits for Q1 2025 surged on increased plantation output higher CPO prices EBITDA for the first quarter of 2025 grew by 12% year-on-year, reaching US$259 million, while maintaining a steady margin of 8.5%. Underlying profit increased by US$10 million from the previous year to reach US$89 million. Combined with a reduction in foreign exchange loss, net profit surged by 47%, totalling US$55 million. The continued recovery in palm production was a key driver of GAR's first quarter results, mitigating softer downstream performance due to lower merchandising volumes in a competitive market environment. The Company remains committed to expanding its portfolio of higher value-added products in destination countries to help weather these market trends. GAR's financial position remained healthy with an improved gearing ratio of 0.65 times and net debt to EBITDA ratio of 0.41 times. On the outlook, Mr. Franky O. Widjaja, GAR Chairman and Chief Executive Officer commented: "Palm oil production in early 2025 is emerging well from disruptions caused by extreme weather, showing potential to gradually ease tightness in global vegetable oil supply. However, growth prospects for soft commodities remain constrained by shifting weather patterns and geopolitical uncertainty. Global trade tensions are having a significant impact on market dynamics, particularly for soybean oil. These factors, combined with more competitive palm oil prices due to narrowing price premiums, are expected to support CPO prices in the near term. We will continue to observe these rapidly developing dynamics, as well as global macroeconomic conditions that may influence market trends." Operational Highlights Higher palm productivity helped to mitigate slowing global economic conditions As of 31 March 2025, GAR's planted area was approximately 534,000 hectares, of which 499,000 hectares were mature. Nucleus and plasma estates made up 417,000 and 117,000 hectares of this area respectively. Fruit yield for the first quarter of 2025 recorded strong growth, increasing by 12% to 4.35 tonnes per hectare from 3.89 tonnes in the same period last year, as the impact of El Niño subsided. Palm product output increased by 11% to 658,000 tonnes compared with 590,000 tonnes in the same period last year, despite ongoing preparation for replanting. In line with slowing global economic conditions, GAR's downstream business saw a 5% year-on-year decrease in sales volume during the first quarter of 2025. Nonetheless, GAR continues to strengthen its competitive edge by pursuing enhanced plantation productivity and higher value-added products to drive long-term growth. Investment in Sustainability GAR is progressing with decarbonisation efforts in line with the Company's Net Zero 2050 ambition. In addition to enhancing delivery on the Company's No Deforestation, No Peat and No Exploitation (NDPE) policies across its supply chain, priorities include strengthening emissions tracking and engaging key suppliers to better map and manage Scope 3 supply chain emissions. Efforts are also underway to enhance energy efficiency and accelerate the Company's transition to renewable energy. The Company continues to advance its commitment to responsible sourcing. The blockchain-powered SmartTrace traceability system, launched in late 2024, is helping GAR and its customers to navigate growing regulatory and compliance demands, including the EU Deforestation Regulation (EUDR). The Company has conducted limited customer trials for the system, showcasing its ability to support compliance through secure, transparent supply chain data.
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Objective to unveil planning tech at PIA Congress 2025
SYDNEY, May 15, 2025 /PRNewswire/ -- Objective Corporation (ASX: OCL) is proud to announce its role as Platinum Sponsor of the 2025 Planning Institute of Australia (PIA) Congress, taking place 28–30 May in Darwin. This year, Objective is set to do more than just show up and they're bringing something new. At the heart of Objective's sponsorship is a powerful message: council planning teams deserve better tools to shape communities of the future. For too long, under-resourced councils and overworked planners have been expected to deliver critical development outcomes with outdated systems and a patchwork of processes. That's about to change. "We've spent the last year working hand-in-hand with councils and their planners across Australia to reimagine how statutory planning can work — efficiently, transparently, and without the admin grind," said Andrea Breen, VP Local Government Solutions at Objective. "We're excited to give the PIA community a first look at software, purpose built just for them." While details remain under wraps until the start of PIA Congress, Objective has confirmed it will be previewing a software-platform designed specifically for Australian council planning teams, focused on streamlining development assessment and supporting better, faster and consistent planning decisions. "We're excited to have Objective join us in Darwin for the 74th PIA Congress as our Platinum and Principal Awards sponsor," said Matt Collins, CEO of the Planning Institute of Australia. "Partners like Objective, bring the latest technology to our eco-system of planners, who are often the unsung heroes of our communities." "This is about more than just tech," Breen, continued. "It's about giving planners the time, tools, and trust they need to focus on what they were trained to do — shape great communities." Attendees can visit Objective at booth 4 throughout the conference and join the mainstage session 29 May 2025 at 4pm, for a behind-the-scenes look at how planning leaders are already preparing for the future. WHAT TO EXPECT FROM OBJECTIVE AT PIA: Live tech previews of an all-new platform for planners. Real stories from councils tackling approval backlogs and planner burnout. Expert insights on how AI is helping — not replacing — human decision-making in planning. A special announcement that will transform the way councils handle development applications. WHO SHOULD VISIT Council planners and team leaders. CIOs and digital transformation leaders. Executive directors of planning/building. Anyone tired of chasing spreadsheets and looking for a better way to assess DAs. JOIN OBJECTIVE AT PIA CONGRESS 2025 Visit Objective at PIA Congress if you work in planning - it's worth seeing: Darwin Convention Centre - Booth 4. Join our mainstage session on 29 May 2025 at 4pm for a glimpse at what's next. Book a walkthrough of the new-to-market solution - for the first step into the future of planning.
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Equality Rings Out Around the World as Stock Exchanges Join Forces in a Stand for LGBTIQ+ Inclusion
GENEVA and NEW YORK, May 15, 2025 /PRNewswire/ -- In a landmark series of events affirming the rights and dignity of all individuals, stock exchanges around the world are coming together this month for the inaugural Ring the Bell for LGBTIQ+ Equalityinitiative. Held in May to support the observance of the long-standing International Day against Homophobia, Biphobia, and Transphobia (IDAHOBIT), the new initiative underscores a shared global commitment to advancing the equal rights, economic inclusion, and protection of LGBTIQ+ individuals. The initiative convenes a diverse coalition of leaders from stock exchanges, civil society, governments, and market participants to raise awareness of the importance of creating inclusive and equitable economic environments for all, regardless of sexual orientation, gender identity, or expression or sex characteristics. Organised by a coalition of global partners all committed to this mission, including the UN Global Compact, UN Human Rights (OHCHR), UN Sustainable Stock Exchanges initiative (UN SSE) and Koppa - The LGBTI+ Economic Power Lab. Ring the Bell for LGBTIQ+ Equality mirrors the success of similar campaigns, such as the annual Ring the Bell for Gender Equality initiative. This marks the first time stock exchanges have collectively sounded the opening or closing bell in a coordinated show of support for the equal rights of LGBTIQ+ people in the workplace and broader society. A Global Unifying Call 15 stock exchanges across 14 countries are taking part in the initiative, including ASX (Australia), Bolsa Mexicana (Mexico), Cboe (USA), Deutsche Börse (Germany), Euronext Group (Belgium, Denmark, France, Ireland, Italy, Netherlands, Norway, Portugal, UK), LSEG (UK), Toronto (Canada). Each exchange has or will be hosting a ceremonial bell ringing accompanied by remarks from exchange leaders, civil society representatives, issuers, investors, and other market participants. These messages emphasize the ongoing need for progress and concrete action to support economic equality and inclusion for all, including LGBTIQ+ individuals. A Powerful Call to Action This global bell-ringing is more than a symbolic gesture - it is a powerful call to action. As institutions and companies work to build more inclusive cultures, Ring the Bell for LGBTIQ+ Equality aims to catalyze leadership accountability, implement tangible policy improvements such as the promotions of inclusive workplace policies and legal protections, and support meaningful cultural change. "In 2015, just seven pioneering exchanges joined our first Ring the Bell for Gender Equality event and within a few years, it was a global phenomenon involving well over 100 exchanges. So today we're proud to be part of a new annual tradition with a new group of pioneering exchanges who are standing up to support equality and human rights for the LGBTIQ+ community," said Anthony Miller, Chief Coordinator, UN SSE. "Making sure no one faces stigma and discrimination, including in the workplace, is not only the right thing to do – it benefits everyone. We're proud to be partnering with stock exchanges, business and civil society to advance equality and human rights for all – LGBTIQ+ people included!" said Volker Türk, United Nations High Commissioner for Human Rights. "Stigma and discrimination have no place in business or society. The private sector has a clear responsibility to eliminate these barriers, ensuring dignity and equal opportunities for LGBTIQ+ people everywhere. By ringing the bell for LGBTIQ+ equality, stock exchanges and listed companies are sending a powerful signal that inclusion isn't just good ethics—it's good business," said Sanda Ojiambo, CEO and Executive Director, UN Global Compact. "The participation of international stock exchanges in the inaugural 'Ring the Bell for LGBTI Equality' sends a powerful message: the private sector has both a responsibility and an opportunity to advance LGBTI+ rights. Around the world, LGBTI+ people remain disproportionately affected by poverty, and their economic empowerment must be a priority. At Koppa, we believe equality is not just a value — it's an investment in shared prosperity," said Fabrice Houdart, Partner, Koppa: The LGBTI+ Economic Power Lab.
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Global Times: Examining China's economic outlook through automobile output and sales, and foreign trade
BEIJING, May 14, 2025 /PRNewswire/ -- What is the outlook for China's economy at a time when the global economic recovery is being hampered? Various parties have given their analyses from different perspectives, and two recent datasets have attracted attention. In the first four months of 2025, China's automobile production and sales both surpassed 10 million units for the first time, increasing by 12.9 percent and 10.8 percent, respectively, according to data released by the China Association of Automobile Manufacturers on Tuesday. Among them, exports of new-energy vehicles (NEVs) totaled 642,000, up 52.6 percent year-on-year. The good performance of the strategic, pillar industry of automobiles reflects the deep logic of China's high-quality economic development. Some foreign media said that Chinese car companies are not only booming at home, but also winning the global market. BYD alone exported nearly 80,000 vehicles in April, up 90 percent year-on-year, mirroring the huge influence of Chinese car companies in overseas markets. Besides, China's total goods trade grew by 2.4 percent year-on-year in the first four months of 2025, accelerating by 1.1 percentage points compared to the first quarter, according to data released by the General Administration of Customs on May 9. Notably, April's trade in goods import and export value rose by 5.6 percent, with exports increasing by 9.3 percent year-on-year. Despite external trade headwinds, a key factor in this resilience is the strengths of China's manufacturing and innovation. Foreign media described the performance as "exceeding expectations." China's April exports maintained near-double-digit growth despite uncertainties from US tariff policies, indicating the effectiveness of recently introduced intensive policy measures, reported the Reuters. The resilience of China's economy and its vast potential are seen from these datasets. Effective policies Counter-cyclical adjustment in response to time and situation, the effectiveness of policies has stimulated the potential of China's super-large-scale market. In 2024, China's automobile output and sales both exceeded 30 million units, with exports surpassing 5 million, indicating that industrial growth is mainly driven by domestic demand. According to statistics by the Ministry of Commerce released on Monday, since the implementation of the vehicle trade-in policy in 2024, the cumulative number of subsidy applications has exceeded 10 million. China's auto trade-in policy is an effective hedge against the impact of US tariffs on consumer confidence, according to foreign media. As of Sunday, the number of applications for vehicle trade-in subsidies had reached 3.225 million thus far in 2025, including 1.035 million for scrapping and updating vehicles and 2.19 million for replacement updates. NEVs accounted for more than 53 percent of the trade-ins. This indicated that the vehicle trade-in policy has effectively boosted the growth of automobile consumption and green transformation. In March, China released an action plan to promote the large-scale renewal of equipment and the trade-in of consumer goods. The trade-in policies not only benefited millions of households but also boosted the growth of sales of bulk durable consumer goods. On April 25, the Political Bureau of the Communist Party of China Central Committee held a meeting, noting that it is imperative to coordinate domestic economic work and endeavors in the international economic and trade field. The meeting called for enhanced efforts to accelerate the implementation of more proactive and effective macro policies. Scientific macro-regulation and effective government governance are the sources of China's confidence in addressing various risks and challenges. The synergy between the "visible hand" and the "invisible hand" demonstrates the governance efficiency of the Chinese economy. By playing a strategically oriented role in national development planning, improving the mechanism for policy coordination and harmonization, enhancing the effectiveness of macroeconomic regulation and control, and promoting a dynamic multi-objective balance, we are fully capable of responding to the uncertainties of rapid changes in the external environment with the certainty of high-quality development. Innovation-driven Promoting the deep integration of scientific and technological innovation unleashes economic vitality, which is representing by the automotive industry. Today's Chinese automobile industry is seeing a boom of scientific and technological innovation. CATL has launched a new sodium battery with a cycle life exceeding 10,000 times, retaining 90 percent of its energy capacity at minus 40 C. At a welding workshop of GAC Trumpchi's Yichang factory, over 500 robots work in sync, which is capable of producing a new vehicle every 52 seconds. High-end, intelligent, green transformation is everywhere. Demand pulls supply, supply creates demand for a higher level of dynamic equilibrium - high-end concepts are being changed into reality. Meanwhile, open cooperation maintains a competitive edge. The recently concluded 21st Shanghai International Automobile Industry Exhibition, also known as Shanghai Auto Show, featured over 100 global debut models, with 70 percent of the exhibited vehicles being NEVs. Foreign media reported that visiting the Shanghai Auto Show leaves a lasting impression, noting that "China is living in the future." In the first four months, China's high-tech product exports grew by 7.4 percent year-on-year, accounting for nearly 20 percent of total exports and driving overall export growth by 1.3 percentage points. With a surging innovation engine, China's economy is brimming with new momentum. By seamlessly connecting innovation and industrial chains, China's economic potential is limitless. Engine for green transformation China is spearheading the global shift toward low-carbon development, with its sweeping green transition injecting fresh momentum into growth. Green and low-carbon development is a fundamental solution to environmental challenges and a prevailing global trend. In the first four months of 2025, China's production and sales of NEVs both exceeded 4 million units, with growth rates surpassing 45 percent, reflecting the global shift toward green and transformative industrial practices. In China, green production and lifestyles are advancing hand in hand. The country is optimizing its industrial and consumption structures in tandem, aligning supply and demand to unlock new momentum in domestic consumption. In the streets and alleys, NEVs with green license plates are shuttling around, and more young consumers are choosing NEVs as their "first car in life." The interaction between vehicles and networks is becoming more and more mature, and NEVs not only can be recharged from the grid, but also can transmit electricity to the grid in reverse. NEVs have become popular and integrated into a variety of scenarios, and have become an important carrier for a green and low-carbon life in China. At the same time, China's manufacturing is increasingly aligned with the growing overseas demand, creating a mutually reinforcing dynamic. Data showed that in the first quarter of 2025, China's top automobile export destinations included Mexico, the UAE, Russia, Belgium, Saudi Arabia, Brazil and Australia. China's "intelligent manufacturing" not only meets the needs of global consumers for a better life but also drives and leads the global transition in transportation and energy. Its green production capacity is enhancing global supply chains and supporting international efforts to reduce emissions. One-third of China's electricity consumption now comes from renewable sources. Chinese wind and solar power equipment are exported to more than 200 countries and regions, enabling widespread access to clean energy. Over the past decade, China has helped cut the global average cost of wind and solar power generation by more than 60 percent and 80 percent, respectively, solidifying its role as a key driver and contributor to the world's green transformation. In China, we see the future and renewed confidence. This is how the world views China today - and it is a reflection of the country's tomorrow. https://www.globaltimes.cn/page/202505/1334066.shtml
