Wilo Group Industry Conference Catalyses Collaboration for Sustainable Smart Cities Across Asia
His Highness Sheikh Ahmed invests $5 million in Zero Carbon Ventures
Infobip recognized as communications platform Leader by analyst firm Gartner
KBTG Techtopia Takes Thai People and Partners Worldwide on a Journey Across the AI-Verse
Offshore wind industry poised for growth, but economic pressures and tech innovation need to be managed
Capture.HK Revolutionises Memories with the Launch of Slide Film Digitisation Service
Heritage drinks brand Yeo's launches spectacular Drinkable Garden at Gardens by the Bay
KAUST enhances the Kingdom's economic competitiveness by forging transformative research and innovation collaboration with Shenzhen
FBS and Thai Influencer Trader Mait Team Up to Empower Traders Through Data-Driven Strategies
OctaFX: August inflation data may give more power to the ringgit
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TWP Redefines Sydney's Workspace Landscape With Two New Cutting-edge Centres In Q1, 2024
Following its successful launch at Quay Quarter Tower in Sydney in late 2022, The Work Project (TWP) is set to expand its footprint with two new coworking centres at 100 Arthur Street and 66 Goulburn Street. Slated for opening in February 2024, these centres will feature TWP's renowned cutting-edge coworking design, catering to professionals looking for premium workspaces outside of Sydney's core CBD. Elevating Professional Workspaces Outside Sydney's Core CBD TWP will introduce a total of 1,600 square metres of flexible workspace across the lower ground and 10th floors of 100 Arthur Street in North Sydney. Visitors will be greeted at the grand entrance leading into a spacious business lounge, complete with luxurious sofas, work booths, hot desks, collaboration zones and meeting rooms. The 10th-floor office suites boast panoramic views of Sydney Harbour and the CBD. Noeleen Goh, Head of Real Estate at TWP, expressed her confidence in the prime location of the new workspace: "With Victoria Cross Sydney Metro set to open in 2024, North Sydney is poised for significant growth. The new metro will significantly reduce the time to get between North Sydney and the City, and will add to the vibrancy of the entire North Sydney CBD. 100 Arthur Street will be well-positioned to meet the rising demand for flexible small and medium offices. The lower ground lounge and collaborative spaces will also foster networking and idea exchange among tenants and members, nurturing a community of like-minded professionals." Capturing Demand in Sydney's Midtown Precinct Situated on the 9th floor, the new TWP coworking centre att 66 Goulburn Street will comprise mainly private office suites and meeting rooms. The design will seamlessly fuse modern aesthetics with functional excellence. Conveniently located in the Midtown Precinct of Sydney's CBD, members will benefit from the unparalleled connectivity to the transportation network via the Light Rail, Museum and Central Stations and the plethora of dining options. Brandon Chua, TWP Australia Country Head, elaborated on the appeal of Goulburn Street: "The Midtown Precinct, with its proximity to major court buildings such as Downing Centre Courts and Family Court, is ideal for meeting the demands of legal and financial professionals. We are excited to offer a meticulously crafted premium workspace that blends inspirational design, ergonomic furniture and cutting-edge technology infrastructure to support seamless communication and productivity." With this expansion, TWP's total flexible workspace in Sydney will encompass 7,000 square metres across three distinct locations.
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Major Automotive Themed Event in Town International MotorXpo (IMXpo) 2023 Returning in December
International Motor Show (HK) Management Limited (IMSML) is pleased to announce the return of its highly anticipated automotive event, International MotorXpo Hong Kong (IMXpo, originally known as IMXHK) 2023, following the success of its previous two editions. From 14 to 17 December 2023, the four-day event will take place at the AsiaWorld-Expo, showcasing the very unique car culture of the city, the oldest and the latest car models, in addition to other relevant products and services. This year's event will be co-organised by the China Association of Automobile Manufacturers (CAAM) and the Chinese Culture Institute (CCI). IMXpo 2023 endeavours to promote automotive culture, history, education and the latest technology, providing an unparalleled opportunity for industry leaders, manufacturers, and consumers to connect and engage in a comprehensive exposition. Under the theme of "Mobility+", the year's event will offer a diverse range of activities and exhibits, including the "Chinese EV Pavilion" where the most significant EV models of Mainland China will be presented, "Hong Kong Autofest", a car culture festival area featuring JDM cars and collector cars, the "Supercar Zone" showcasing stunning car art and design, and the fun-filled "IMX CARnival". There will also be exhibitors of international motor brands as well as auto products and services. According to Carmen Au Yeung, Co-founder of IMSML, "We are excited to bring back our highly anticipated automotive event, which will once again offer visitors a diverse range of activities and exhibits to enjoy. With the 'Mobility +' theme, we aim to build an auto-themed event which is unlike any other car shows in the region. We focus on presenting the very unique car culture of the city, which has been heavily influenced by Japanese and Western car history and trends." She also extended her warmest welcome to CAAM and CCI as this year's Co-organisers this year. IMXpo 2023 marks the first-ever motor show outside Mainland China to involve CAAM as a co-organiser. Fu Bingfeng, Executive Vice President and Secretary-General of CAAM, stated, "With its extensive overseas network and well-established financial system, Hong Kong plays a key role in promoting trade and financing of electric vehicles of the Mainland. As a platform with unique value for technology display, brand promotion and business exchanges, IMXpo will help position Hong Kong as a bridgehead for car manufacturers of Mainland China to open up the Southeast Asian, Belt and Road and European markets. We believe that Hong Kong can contribute to bringing Chinese electric vehicles to the world." As part of IMXpo this year, an international forum on "Exports and Investment Hotspots of New Energy Vehicles" will be held, exploring the strategic functions and positioning of Hong Kong in supporting Chinese new energy vehicles "going global". The forum will be attended by senior Government officials, influential industry players, scholars and business leaders. Jiang Zenghe, President of CCI, expressed his high expectation for the three-party-partnership, stating that Hong Kong's status as an international financial centre would be further strengthened through this new role. "Overseas buyers and potential business partners could come to Hong Kong to witness the development of Chinese electric vehicles. Hong Kong should also take pride in the progress of vehicle electrification in Mainland China and explore any possible cooperation opportunities," he added. In addition to the B2B elements, IMXpo is an annual iconic event for car lovers and families. The exciting highlights of IMXpo 2023 include: Supercar Zone: Showcasing some of the world's most luxurious and high-performance vehicles; Hong Kong Autofest: Featuring a classic MINI show, Unprohibited! for Japanese modified cars, and a Car Part Museum. Parts, Accessories, and Services Avenue: Providing a platform for manufacturers and suppliers to showcase their after-sales products and services. IMX CARnival: Offering a range of exciting activities, such as the Toycar Salon, International E-sports Race, Remote Car Competition, and the presence of three hand-made wooden supercars from Vietnam. Chinese EV Pavilion: Showcasing the latest developments in electric vehicle models and technology; International Show Room: Featuring a variety of vehicles from around the world; Fete Two Wheels: Presenting a wide variety of motorbikes. IMXPO 2023 promises to be an unforgettable experience for automotive enthusiasts, industry professionals, and families alike. With its diverse range of activities and exhibitions, the event offers something for everyone. Don't miss out this automotive extravaganza! We invite you to join us and experience IMXpo 2023.
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TÜV Rheinland Launches First-ever Hydrogen Safety Training Courses in Hong Kong
TÜV Rheinland, a leading global provider of technical, safety, and certification services, today announced the launch of its first-ever Hydrogen Safety Training Courses to support the burgeoning Hydrogen Industry in Hong Kong. The Chief Executive announced in his 2022 Policy Address to commence trials on Hydrogen Fuel Cell double-deck buses and heavy vehicles in 2023 and formulate the long-term strategies for the application of hydrogen energy in road transport by 2025. The Inter-departmental Working Group on Using Hydrogen as Fuel, led by the Environment and Ecology Bureau (EEB), has approved six trial projects on hydrogen fuel technology in Hong Kong involving transport and energy sectors , in preparation for the technology's local application and the development of supporting facilities. The Hydrogen Safety Training Courses directly responds to this shift towards renewable energy sources and will address the knowledge and skill gap prevalent in the industry. The training courses on hydrogen design, application and carrier safety will encompass a broad curriculum, including general hydrogen safety, risk assessment, design safety, and operational safety. Participants will gain valuable insights into the nuances of working with hydrogen-based technologies and learn best practices for ensuring safety at all levels of operation. The Hydrogen Safety Training Courses have been duly approved under the Reindustrialisation and Technology Training Programme (RTTP). The RTTP offers a 2:1 matching subsidy to local companies to train their staff in advanced technologies. These courses will provide crucial training and education to engineers, technicians, and professionals who are set to drive the hydrogen energy revolution in Hong Kong. "With our extensive experience and expertise in technical and safety training, we are thrilled to bring this industry-first initiative to Hong Kong," said Mr. Rory Meng, Leader of Hydrogen Competence Centerof TÜV Rheinland, Greater China. "As a global leader in testing, inspection, and certification services, we believe it's our responsibility to promote the safe, effective and innovative use of hydrogen energy." With its rich experience in international projects in the field of hydrogen energy, TÜV Rheinland offers one-stop professional technical services from hydrogen production to application, covering water electrolysis hydrogen, storage facilities, transportation, filling station, fuel cell vehicles, etc. The Hong Kong government's commitment to a green and sustainable future through policies promoting the hydrogen economy aligns perfectly with TÜV Rheinland's mission. As TÜV Rheinland pioneers this crucial training in Hong Kong, we continue our longstanding commitment to safety and innovation, driving growth, and aiding in the swift and safe adoption of new technologies. Through these courses, TÜV Rheinland aims to support the hydrogen industry in Hong Kong, bringing about a safer, greener, and more sustainable future. For more information on TÜV Rheinland's Hydrogen Safety Training Courses, please visit https://event.gc.tuv.com/index.php?r=site%2Fview&id=2900&language=en-US
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De Beers Research Insights Highlight Opportunities for Long-Term Diamond Jewellery Demand Growth In China
De Beers Group today released its tenth annual Diamond Insight Report, focusing on the outlook for diamonds in China and how the industry can support long-term demand for natural diamonds in the country. While consumer demand for diamond jewellery in China has softened in recent years following the COVID-19 pandemic and subsequent macroeconomic challenges, the report highlights the potential for greater demand as the economic outlook improves – with up to 200 million Chinese consumers set to enter the middle class by 2030 and an expected rise in household disposable income of more than a third over the same period – as well as how best to cater to the needs of different Chinese consumer groups. The report reveals that while desirability for natural diamonds remains strong among Chinese end clients, ranking among the top three most desired luxury purchases, there is a gap between intent to acquire and actual acquisition rates. This gap represents an opportunity for the diamond industry which can be captured by responding to the consumer insights contained in the report. The report identifies several specific opportunities for the diamond trade in relation to different consumer groups, geographies and retail approaches in China. Key insights include: Millennials: Millennials are the generation that spends disproportionately more than others on diamond jewellery. Younger Millennials prize quality/purity as the most important feature they seek from diamond jewellery, followed by the size and cost of the piece. Design and colour also play a significant role in their decision-making. For older Millennials, design and size take priority, closely followed by purity and price. For both groups, the uniqueness of a piece and the ethical responsibility of the brand are also factors. Retailers should therefore focus on a strong design ethos with top-quality diamonds and competitive pricing, while ensuring they communicate their commitment to ethical practices. Gen Z: The share of market value Gen Z represents almost doubled between 2020 and 2022, from five per cent to nine per cent of sales. Gen Z are characterised by greater use of digital media, heightened interest in sustainability considerations, a continuing journey to financial maturity and a propensity to purchase diamonds to mark birthdays. Retailers can maximise the potential of the Gen Z demographic by establishing strong digital touchpoints, showing their alignment to Gen Z values, launching flexible payment options or offering lower-priced entry-level pieces, and offering special birthday promotions or personalised pieces that make for unique birthday gifts. Affluent consumers: Affluent consumers are more likely to buy diamond jewellery to celebrate significant relationship milestones, particularly wedding anniversaries. However, they are selective in their choices, with design playing a pivotal role. One in four of those who did not purchase diamond jewellery in 2022 stated that they couldn't find a design they liked. This may help explain the gap between the strong desire for diamond jewellery among affluent consumers and their actual acquisition – as such, a greater focus on designs that reflect this group's preferences can present an area of opportunity. Further growth opportunities: The 55-65 age group: The 55-65 age group is an important and growing cohort, contributing approximately nine per cent of the total market value in Tier 1-3 cities. The self-purchase behaviour of the 55-65 age group is particularly noteworthy. This demographic does not shy away from rewarding themselves with diamond jewellery (29 per cent vs 17 per cent for 18-54). In terms of product preference, this group shows a clear inclination towards necklaces and non-bridal rings. Tier 4 cities: The estimated market value of Tier 4 cities stands represented about 10 per cent of total demand for diamond jewellery in 2022. Diamond jewellery acquisitions in Tier 4 cities are more likely to be non-bridal (85 per cent of pieces) and gifted (88 per cent of pieces), with more than a third of acquisitions (35 per cent) being for wedding anniversaries, compared with a quarter in Tiers 1-3. Al Cook, CEO, De Beers Group, said: "De Beers Diamond Insight Reports draw on our unique understanding of diamonds, developed over our long history. And there is no country where history has moved as fast as China. From being a relatively small player on the world diamond stage at the end of the last century, China now represents the largest market for diamond jewellery outside the United States. So, our aim for this, our tenth Diamond Insight Report, is to focus on China. We aim to look at its development, to cut through short-term volatility, to understand evolving customer desire for jewellery and to identify opportunities for the future." The report also includes the annual diamond value chain dashboard, containing authoritative data on the performance of the diamond industry's upstream, midstream and downstream segments in 2022. FB @De Beers Group IG @De Beers Group Website: www.debeersgroup.com
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Bybit and Paradigm Launch Promotion Offering Pro5 Fees for New Options Traders
Bybit, the world’s third most visited crypto exchange, has partnered with Paradigm, the largest institutional liquidity network for crypto derivatives traders, to introduce a fee-slashing promotion for new and professional options traders. The collaboration between Bybit and Paradigm aims to attract new professional options traders to Bybit's platform, as part of the exchange's efforts to enhance its offerings for institutional participants. Traders will benefit from Paradigm's block trading expertise and Bybit's seamless trading environment. The promotion focuses on accessibility and competitive fee structures. New users need only complete one trade of any size to participate. Eligible traders will enjoy Bybit's most competitive 'Pro5' fee rate across options, perpetual contracts, and spot trading until October 11. Additionally, traders achieving $10 million in options taker volume via Paradigm by October 11 will be eligible for an extended discounted fee period. Bybit's options market provides flexibility with daily, weekly, monthly and quarterly expiries on BTC and ETH. Its trading platform delivers robust functionality, world-class infrastructure, and deep liquidity. “We are excited to collaborate with Paradigm to introduce this exclusive promotion for institutional option traders.” said Ben Zhou, co-founder and CEO of Bybit. “We remain committed to powering innovation and offering sophisticated trading tools for institutions. This collaboration further strengthens our position as a leading player in the crypto derivatives market.” “Bybit and Paradigm share an unwavering commitment to serving our institutional customers over the long haul,” said Anand Gomes, co-founder and CEO of Paradigm. “Our collaboration is a testament to our dedication to simplifying the path for institutions venturing into the world of crypto. Together, we pave the way for a future where accessibility and innovation converge.”
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Know Your Customer’s Company Registry Solution Now Available Through HKMA's Commercial Data Interchange
Know Your Customer, a leading RegTech provider specialised in Business KYC verification, is delighted to announce the addition of its solution to the Hong Kong Monetary Authority's (HKMA) Commercial Data Interchange (CDI). This collaboration is the latest milestone in the HKMA's strategy to foster more efficient financial intermediation in the banking system and promote financial inclusion in the region. The CDI represents a cutting-edge financial data infrastructure that eliminates the need for multiple one-to-one connections between banks and data providers. Through CDI, each bank and data provider establishes a single connection, streamlining data sharing at unprecedented levels. Know Your Customer's pivotal role within CDI is to provide seamless and automated access to the Hong Kong Companies Registry (HKCR) and Inland Revenue Department (IRD), as well as to a global network of official registries across 130+ countries worldwide. Know Your Customer's proprietary technology empowers compliance teams at banks and regulated institutions with real-time access to official company documents, including certificates of incorporation and annual returns. Furthermore, the solution intelligently reads and extracts all shareholder and company details from company documents as structured data, thereby accelerating entity structure mapping and ultimate beneficial owner (UBO) identification for anti-money laundering purposes. By adopting Know Your Customer through CDI, financial institutions in Hong Kong can significantly enhance the efficiency and accuracy of their Know Your Business (KYB) and UBO checks. This transformative integration paves the way for digital transformation, facilitating a superior customer experience for both local small and medium-sized enterprises (SMEs) and large multinational corporations (MNCs). Claus Christensen, CEO & Co-Founder of Know Your Customer, expressed his enthusiasm for the strategic potential of RegTech adoption in the financial services sector, particularly within HKMA's forward-thinking approach. He stated: "The CDI is just one of the many tangible and proactive initiatives taken by the regulator to drive RegTech adoption across the industry. Myself and the entire team at Know Your Customer are eager to contribute to helping banks strengthen their internal compliance processes and embrace digital transformation in the critical areas of business verification and onboarding." The integration of Know Your Customer with HKMA's Commercial Data Interchange signals the importance of real-time registry access and primary source data to ensure on-going compliance in the eyes of the regulator. As Know Your Customer continues to lead the way in high-quality compliance solutions, this partnership stands as a testament to the banking sector's commitment to concrete innovation and measurable progress.
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Southco Launches A New Wireless Access System With The Keypaniontm(TM) App
Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of engineered access solutions such as locks, latches, captive fasteners, electronic access solutions and hinges/ positioning technology has launched a new wireless access system featuring the Keypanion app, a revolutionary smart access app that lets users wirelessly actuate latches from their smartphones. The app replaces physical keys, which can be lost or stolen, with a convenient, intuitive system that is easy to install and manage. While other remote or electronic access systems may require a full security system, this system removes that barrier to entry with a setup process as easy as creating an account and connecting a Southco Bluetooth® controller to one of many compatible latches. Access to these latches can also be shared with other accounts so users can be certain that only the right people can unlock their device at all times. The Keypanion app provides an easy way for anyone to step into the next generation of electronic access. The Keypanion app was born from a desire to reduce dependency on physical keys. They can be difficult to keep track of, and can be lost, stolen, or damaged. The app removes this uncertainty and hassle with a system that is easy to set up and use no matter the user's technological knowledge. Users can easily set up their smart access system by downloading the Keypanion app, creating an account, and registering any compatible Southco latch. After registering, users have peace of mind knowing that their devices are secure, and no one will gain access without their permission. If users do need to share access to their latches, it is even easier than handing someone a physical key. Users can freely share access with other accounts from anywhere in the world with the push of a button in the app. They can also set this access to expire after a set period of time to ensure that others only have access when they need it. This sharing method is more secure than lending out physical keys, which can be lost, stolen, or damaged in the process. With the Keypanion app, you can see who has access to your devices any time, and instantly grant or revoke a user's access. Convenience is a major focus of the Keypanion app, and its sharing functionality ensures that the right people will always have access to a device at the right times. However, convenience is not the only focus of the Keypanion app. Security is a top priority for all users, and the app heightens security beyond simply replacing physical keys. As long as a device with the Keypanion app is near your latch, you will be able to see if it is open or closed. This status also comes with a timestamp so there is no confusion around when it was last updated. Users can also view a device's history for up to fourteen days, to see which accounts have accessed the device, and when. These features make the Southco wireless access system a convenient first step for anyone looking to upgrade to electronic access. The combination of the Keypanion app, Southco Bluetooth controller, and compatible latch requires no dedicated IT team to set up, and with a smartphone nearby, the system is always easy to use. The Keypanion app replaces physical keys, so there is no risk of one being lost or stolen, and provides additional security benefits such as timed access sharing and status monitoring. The world of smart access is just getting started, and the Keypanion app is leading the way. For more information about the Southco wireless access system featuring the Keypanion app, visit southco.com/keypanion or email Southco's 24/7 customer service department at info@southco.com
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ESG and Green Finance Opportunities Forum 2023 on October 4 Themed Combating Climate-risks and Achieving a Sustainable Future
The Chamber of Hong Kong Listed Companies (CHKLC) will stage the ESG and Green Finance Opportunities Forum 2023 on October 4. In its third time, the Forum is best timed to prepare local businesses on more stringent climate-related disclosure requirements and to stay ahead of time with their ESG plans in the areas of transition finance, social impact investments and decarbonization technologies. Hang Seng Bank remains steadfast in its commitment as the title sponsor, while Financial Secretary Paul Chan Mo-po is set to deliver the keynote address. The opening session will continue further with remarks from CHKLC's Chairman, Catherine Leung, and Hang Seng Bank's Executive Director and Chief Executive, Diana Cesar. The Forum will bring together over 20 experts from international financial institutes, listed companies, regulatory bodies and technology start-ups to share their thoughts and experiences around the theme of "Combating Climate-risks and Achieving a Sustainable Future: Transition Finance and Innovative Technology". Transition Finance and Innovation Technology to support low-carbon transition Managing climate risks is one of the most important challenges to businesses in recent years due to mitigation costs and tightening disclosures requirements. By January 2024, climate-related disclosures are proposed to be mandatory in listed firms' ESG reports. Many traditional businesses with higher GHG emissions are getting eager to transition to low carbon, low emission operation through business transformation. Transition Finance is pivotal in the shift towards a low-carbon economy. In alignment with this, Hang Seng Bank has been offering various financial products to support corporate customers' sustainability efforts. These include sustainability-linked loans, green trade financing, and green receivables financing solutions, all designed to integrate sustainability into corporate packages. Social Impact Investments to connect with communities As good corporate citizens, engaging with social needs and connecting with the community are also considered as alignments to ESG requirements. There has been growing advocacy among corporates to address social concerns on top of environmental needs, some even taking the lead in social impact investments. Decarbonization technologies have also been developed in response to climate risks and can be of great help to corporates in achieving low-carbon operations. 4 discussion panels to address hot ESG topics All these compelling issues will thus be the focus of discussions in the coming ESG and Green Finance Opportunities Forum 2023 to be addressed in the following 4 panel discussions. (1) Panel 1: Transition Finance – Trends, Opportunities and Challenges Transition finance is to offer financial support which helps high-carbon companies to start implementing long-term changes to become greener. The characteristics and practices of transition finance, as well as how corporates in Hong Kong and GBA can best utilize it in their climate change endeavours will be discussed. (2) Panel 2: Social Impact Investments for Sustainable Growth Going beyond decarbonization, financing should also be channeled to projects with positive social impact. This session will introduce social impact investments as means to advance sustainable development goals and evaluate current endeavours in Hong Kong and GBA. (3) Panel 3: Regulatory Updates on ESG Reporting and Climate Risks Disclosures Representatives from regulators HKEX and SFC are invited to share updates on the latest climate-related rules and regulations to prepare local businesses for better compliance and reporting. (4) Panel 4: Decarbonization Strategy and Technology Application Experts will share innovative technologies and forward-looking strategies to help listed companies to attain low carbon low emission operations and meet their carbon neutrality targets. Financial and ESG experts as panel speakers Financial heavyweights, regulators, ESG veterans have been invited to speak at the 4 panels and share their valuable experiences. The list includes but is not limited to: Mr Paul MALAM, Head of Policy and Secretariat Services, Listing of HKEX; Ms Jennifer LEE, Director, Corporate Finance Division, SFC; Professor Simon HO, President of the Hang Seng University of Hong Kong; Mr Frank HEUNG, Head of Structured Finance, Commercial Real Estate & Corporate Advisory of Hang Seng Bank; Mr Anthony CHEUNG, Supervisory Board Member, World Benchmarking Alliance; Mr Ricco ZHANG, Senior Director, Asia Pacific of International Capital Market Association; Ms Katherine KOH, Global Climate Lead for IFC Infrastructure; Mr Peter YAN, CEO, Cyberport, as well as senior ESG executives from listed companies. (Conference speaker list and programme can be referred to https://www.chklc-esgforum.com/website/index.html) For further information about the "ESG and Green Finance Opportunities Forum 2023", please contact (852) 2970 0886 or email to info@chklc.org.
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Alibaba Pictures announces to acquire Damai
Alibaba Pictures Group Limited ("Alibaba Pictures" or the "Company," HKEX: 1060), an integrated entertainment platform featuring "content + technology" under the Alibaba Digital Media and Entertainment Group, and Alibaba Investment Limited, a wholly-owned subsidiary of Alibaba Group Holding Limited ("Alibaba Group") (NYSE: BABA and HKEX: 9988 (HKD counter) and 89988 (RMB counter)), are pleased to announce the entry into a share purchase agreement, pursuant to which Alibaba Pictures had conditionally agreed to acquire the entire equity stake of Pony Media Holdings Inc. (the "Target Company"), the operator of "Damai" brand. By further expanding the upstream presence of "Damai" brand in live entertainment industry value chain, such as events production and promotion, venue operation and artist management, the Company aims to strengthen scale advantages and barriers to entry, and further build brand awareness for its offline entertainment business. Through "Damai" brand, the Target Company (along with its subsidiaries) is a leading provider of live performances, including concerts, musical festivals, livehouse performances, plays, sports events and exhibitions in the PRC. The Target Company engages in the full life cycle of live performances, including production, promotion and ticketing, and served over 1.8 million events with over 100 million registered customers cumulatively. "We believe this transaction heralds a new chapter for the new Alibaba Pictures. Before today's announcement, we have already established deep connection with Damai through our exclusive service agreement, and accumulated over 20 million Taomai VIP members to date," said Mr. Jie Li, President of Alibaba Pictures. "Following the transaction, we will strive to integrate our resources, expand presence along industry value chain, drive development through technology innovation, and ultimately create value to our customers and shareholders." The aggregate consideration shall be US$167 million (equivalent to approximately HK$1,307 million) and shall be satisfied by the Company allotting and issuing 2,513,028,847 consideration shares to Alibaba Investment Limited at an issue price of HK$0.52 per share, based on the volume weighted average price of the Company's ordinary shares listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") for thirty (30) consecutive trading days immediately preceding the agreement date. Immediately after the issue of the consideration shares, Alibaba Group will increase its shareholding in Alibaba Pictures to approximately 54.26%. J.P. Morgan Securities (Asia Pacific) Limited acted as Financial Adviser to the Company. Subject to the fulfillment of certain conditions precedent, including obtaining approval from Independent Shareholders in a special general meeting, the transaction is expected to be closed in the fourth quarter of 2023. For more information, please refer to Company's announcement published on the Stock Exchange dated September 19, 2023.
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PRYSMIAN GROUP SPONSOR AT CONNECTED BRITAIN 2023
Prysmian Group, world leader in the energy and telecom cable systems industry, will be Platinum Sponsor at Connected Britain 2023, the UK’s most important connectivity event taking place in London on September 20-21. The event will be an opportunity for the various industry leaders to exchange views with respect to the challenges and critical issues facing the steady growth of recent years, as well as to discuss new opportunities and the ability to meet the ever-increasing demand. At stand 138, Prysmian’s complete FTTx portfolio for cabling and connectivity solutions to meet all demands from the market, present and future will be showcased, including the latest innovations for internal and external distribution, Karona Overblow system and a range of optical fibre solutions. Prysmian will be an active player also at the Conference sessions, where Philippe Vanhille, EVP Telecom Division at Prysmian Group, will take part in a panel with title “The changing investment landscape for the fibre market”. In his speech, Vanhille will explain how the need of connection and infrastructure is globally undeniable and unavoidable. For this reason, the direction the market is taking is to leverage even more on innovation, which will continue to be the main driver for creating value; together with the reshoring of industrial activities, which will be more and more decisive; and, undoubtedly, ESG issues, which will play an increasingly important role. The value of a telecom network is made of building blocks like performance, robustness, future proofness and minimised environmental impact during construction in operations. Therefore, for such a long-term investment in a critical infrastructure the decisions made today regarding the quality of the network’s components heavily influence the mid/long term value of the asset. “The growing macro-economic and market uncertainty will not slow down digital transformation. The process has just begun, and we’re seeing in fact an acceleration rather than a falloff of the digital processes”, states Vanhille. "As an industry leader, we will continue to provide communities and businesses with the best solutions, namely those that combine reliability, performance and sustainability. The key to success will be the ability to adapt to the new era we are already entering, and we at Prysmian possess all the tools and spirit to meet the needs of our stakeholders, the community and the Planet." Moreover, Carlos Lopez, Telecom Sales Manager at Prysmian UK, will speak in the Project Rollout stream “Supporting Full Fibre deployment in the UK”. He will explain how quality, robust and smaller cables can be used in already congested ducts, allowing reduced packaging, transportation, and transportation costs, and help minimise their impact on the environment and the carbon footprint from building the network.
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starsleep Enters Hong Kong Market with Health Tech Products To Help the Silver Generation Get Better Sleep
starsleep, the technology-driven healthcare product brand of the U.S.-headquartered company Charme Health Tech ('Charme') enters the Hong Kong market with the opening of its first Hong Kong store in Causeway Bay. It debuted in Hong Kong two of its stellar products, the first-ever adjustable rotating bed orin, and adjustable massage chair starise, which are specifically designed to offer the silver generation extra comfort from the bedroom to the living room. starsleep has developed an accompanying proprietary health management app, starnote, which works in conjunction with orin to monitor the user's sleep pattern and quality. It comes with a range of added functions such as medication and diet monitoring to help maintain the user's general health. Zou Gebing, Founder and Chief Executive Officer of Charme, said, "starsleep is committed to revolutionalizing the industry through technology. Furniture does not have to be static and can be as dynamic as one can imagine. The silver generation, or golden agers generation, is the fastest growing demographic in many parts of the world, particularly in East and Southeast Asia, Europe, and North America. Yet, there are insufficient products in the market that respond to the needs of an ageing population. We strive to meet this demand and fill the market gap by developing the starsleep brand of products, created with the golden agers' daily health needs and home comforts in mind. With the central proposition of boosting the functionality of traditional homewares through the integration of technology, starsleep aspires to set a benchmark for elderly-oriented smart furniture. In addition to individual customers, we look forward to working with elderly home care operators to introduce starsleep to institutions and contribute to enhancing the comfort of the silver generation." The adjustable rotating bed orin debuted can rotate 90 degrees to assist the user to get off the bed with the press of a button. The product consists of a smart bed frame accompanied by breathable mattress designed with an air chamber massage function created to provide muscle relaxation. orin is equipped with built-in sleep quality monitoring and report generation functions. For better safety and protection, it comes with a wired remote control with screen lock to prevent accidental touching. starise is an ergonomic adjustable massage recline chair created for the silver generation and patients in rehabilitation and recovery. It helps the user to stand up easily and reduces the risk of injuries. The massage function is of high industry standard, making it a perfect fit for a leisurely and comfy lifestyle. Following the opening of the first Causeway Bay store, starsleep aims to open more brick-and-mortar stores across Hong Kong, as well as an online store, in the coming year. starsleep is positioned not only for B2C but also B2B, with a plan to expand its business into the elderly care industry as a luxury option for discerning residents. starsleep products currently serve the elderly or individuals in need of special care and their caregivers,offering medication records, diet records, chronic disease management, and overnight risk warnings in conjunction with starnote. The starnote app is expected to incorporate chatbots powered by artificial intelligence by the fourth quarter of 2023. The second range of products under the starsleep brand will include tech-powered hardware and software products designed to maintain the health of the silver generation.
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QuantaSing Expands Global Presence with Acquisition of Kelly's Education
QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading online learning service provider in China, today announced its acquisition of Kelly's Education, an online language education platform headquartered in Hong Kong. This transaction signifies QuantaSing's entry into the global online education market and the language learning sector. Following the completion of this transaction, Kelly’s Education will become a wholly-owned subsidiary of the Company. QuantaSing, known for its innovative online platforms like QiNiu for financial literacy, JiangZhen for lifelong learning, and QianChi for senior citizens' interests, serves an extensive range of learning needs, empowering individuals to consistently enhance their self-value. Kelly's Education provides personalized online language education for children aged 3-15 primarily in Hong Kong. The acquisition allows QuantaSing to tap into the global online learning and new language education sectors. On its path to entering the global market, QuantaSing is excited to introduce Hong Kong Online Education (“HKOE”), a brand initially developed by Kelly’s Education, which offers high-quality online English education for children, focusing on delivering value. HKOE adheres firmly to the belief that top-tier education should be within reach for a broader audience of children, not just a privileged few. By implementing a reasonable pricing strategy, HKOE is determined to make premium English education more affordable, presenting a range of course options that accommodate various needs and budgets. Mr. Peng Li, Chairman and Chief Executive Officer of QuantaSing, said, “We are excited to integrate Kelly’s Education and the new brand HKOE into our ecosystem. We congratulate Ken and his team for developing such a strong offering and look forward to our partnership. Their strong business model and seasoned team lays a solid foundation for our global market entry. We plan to broaden our course offerings, including Chinese language learning, and diversify our revenue streams by appealing to a wider age group. We remain committed to fulfilling the ongoing demand from individuals seeking to improve their quality of life and overall well-being through our diverse course offerings.” Mr. Ken Chau, newly appointed Senior Vice President of International Business at QuantaSing and founder of Kelly’s Education, has the mandate to expand the business globally while maintaining the high standard of courses through meaningful partnerships. Ken remarked, “Joining forces with QuantaSing presents an exhilarating opportunity to leverage their strengths and extend our business reach globally. Our vision for the future encompasses not only broadening our reach but also continually adapting our offerings to meet the dynamic needs of learners worldwide.”
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KBA Korea Korugi Beauty Academy Makes Striking Entrance into Hong Kong Market with Affordable Beauty Entrepreneurship Courses
In response to evolving job landscapes and changing career aspirations amid the backdrop of artificial intelligence and the ongoing COVID-19 pandemic, KBA Korea Korugi Beauty Academy introduces innovative and cost-effective beauty entrepreneurship courses. It mainly provides Korugi Beauty Course which is very popular in Korea in recent years, and other types of beauty courses, providing one-stop beauty skills training with subsequent entrepreneurship and store opening support for people who are interested in getting into the beauty industry in Hong Kong. Low-cost beauty entrepreneurship courses allowing students to start a business at low cost Most of the beauty courses in the market teach students how to use beauty devices to provide treatment to customers, but KBA Korea Beauty Academy focuses on "low-cost entrepreneurship". After completing the courses, students only need to spend a few hundreds to thousands of dollars on equipments, without having to invest several hundred thousands of dollars in purchasing various expensive beauty devices. Courses includes the popular Korean Korugi Beauty Course, International Professional Ear-Cleaning Course, Professional Eyelash Beauty Course, Semi-Permanent Brow Makeup Course, Semi-Permanent Powder Rejuvenation Course, etc. KBA Korea Korugi Beauty Academy will add more new courses in the coming future providing more "low-cost entrepreneurship" course options to students. Signature beauty course focuses on the famous Korean Korugi facial beauty techniques In some high-energy beauty treatments such as HIFU, it is unavoidable to cause a certain degree of pain during the treatments. It may even cause some minor skin damages, redness and swelling for a certain period of time. The Korugi technique is inherited from "Suga-style Korugi", a beauty technique invented by the prestige Korean beauty expert Suga Sadako, focusing on facial and bone structure enhancement. It is a traditional beauty technique with more than 30 years of history in Korea, based on human physics, a non-invasive facial enhancement by hand, fine-tuning facial lines, bone contours and muscles through non-surgical methods. The process causes zero skin damage. The star instructors of KBA Korea Korugi Beauty Academy mentioned that the Korugi treatment mainly focuses on changing the facial appearance. The overall facial contour will look healthier and more natural than before, with facial features looking obviously sharper and more balanced, giving a youthful beautiful look. KBA Korea Korugi Beauty Academy's course teaches students how to examine facial problems for customers from scratch, and then provide customers with instant facial contour-enhancing beauty services through hand massage and other professional enhancement techniques. The Korean Korugi Beauty Course is one of the most popular courses. Beauty courses providing certificate from the Korean Beauty Association. Students acquiring qualifications with international recognition The popular Korean "Korugi Beauty Course" organized by KBA Korea Korugi Beauty Academy is in collaboration with "Korean Global Professional Artist Federation", one of the four major associations of the Korean International Beauty Federation. KBA Korea Korugi Beauty Academy is the only recognised school in Southeast Asia and Greater China. The "Korugi Beauty Course" is recognized by the association. After completing the course, students can obtain a beauty technique recognition certificate issued by the Korean beauty industry organization. After graduation, KBA Korea Korugi Beauty Academy provides students with comprehensive entrepreneurial support, including teaching personal brand development, beauty industry marketing strategies, entrepreneurial knowhow, and providing internship opportunities to help students further develop their professional careers. Different levels of beauty courses including trial classes, beginner and advanced classes KBA Korea Korugi Beauty Academy offers a variety of beauty courses at different levels, including one-day trial classes, beginner and advanced classes. They are suitable for beginners, those with basic knowledge and even those who are already in the industry to further their studies. All instructors in the school have extensive teaching experience with relevant teaching qualifications. Some instructors have been working in the industry for many years and have decades of front-line service and business management experience. In addition to teaching students about the professional beauty knowledge, they will also teach students various problem-solving techniques to deal with customers. Some beauty courses also have international certificate assessment systems and standards. For example, upon the completion of "Korugi Beauty Course", students need to take a videotaped exam, the short video of the exam will be sent to "Korean Global Professional Artist Federation" for making the final review to ensure that the graduating students are internationally recognized. All courses are taught in small classes, with about four to eight people per class. The course is composed of 30% theory learning and 70% actual practice training. The pass rate is as high as 99.2%. Also, there are 24-hour online tutorial and retake mechanism, offering extensive comprehensive support to students. Helping students to make their startup dreams come true within one month. Learn a new skill as another major source of income In the past, opening a beauty salon requires paying a big sum of money for the staff, the rent, and beauty devices. KBA Korea Korugi Beauty Academy provides a variety of low-cost beauty training courses, most of which are only requires a pair of hands to start the business, with no additional investment in high-cost beauty devices. Regarding the "Korugi Beauty Course" course, Dean Peng of KBA Korea Korugi Beauty Academy emphasizes that it is a blue ocean market in Hong Kong, with very few industry competition and service providers, while the demand and profit margins are extremely high. After graduation, students can get a lot of job opportunities. The course is also suitable for fresh graduates, career changers, beauty practitioners, stay-at-home mothers, people who plan to emigrate, or anyone who is passionate about the Korugi or the beauty industry. It is a great opportunity to plan for the future and explore more possibilities for your future career. KBA Korean Korugi Beauty Certificate Course Information: Course duration: 5 days of course + 1 day of assessment (44 hours in total) 1-day trial class: $380 Academy Facebook Page: KBA Korea Korugi Beauty Academy / IG: kba.academy For more course information please visit kbacademy.com.hk Address: 22/F, Cameron Plaza, 23-25A Cameron Road, Tsim Sha Tsui
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SUNeVision x HKBN = Next Level Resilience with Subsea Cable "TKO Connect"
SUNeVision Holdings Ltd. ("SUNeVision", SEHK: 1686), the number one data centre provider and connectivity hub in Hong Kong, and HKBN Group ("HKBN", SEHK: 1310), the leading integrated telecom and ICT solutions provider, today announced the commencement of operations of their joint-investment subsea cable system, TKO Connect. This project represents a significant milestone in next-generation subsea fibre cable systems as it enables ultra-reliable and seamless interconnection between the MEGA-i and MEGA Plus high-tier data centres in Hong Kong. TKO Connect is a dedicated undersea fibre cable system directly linking SUNeVision's MEGA-i, the most critical subsea interconnection hub in Chai Wan, and MEGA Plus, the state-of-the-art hyperscale data centre in Tseung Kwan O. Spanning approximately 3km between the two precincts, this new cable system provides the most direct and shortest route between MEGA-i and MEGA Plus – 20+km shorter and 4 times faster than alternate land routes[1] with latency as low as 0.014 milliseconds[2]. TKO Connect is also the first and only dual-path subsea cable in Hong Kong, with two physical cables specifically built underwater to achieve full resilience and ensure network continuity for business' operational excellence. The cable terminates directly at the carrier-neutral facility MEGA-i with minimal fibre splicing and loss, which makes it ultra-reliable. Interconnecting MEGA-i with MEGA Plus, the cable will be further expanded to MEGA IDC, the hyperscale data centre in Tseung Kwan O which is currently under development, enabling customers to tap into MEGA-i's robust ecosystem with high-security and low-latency access. The implementation of TKO Connect further enhances SUNeVision's MEGA-i and MEGA Plus facilities by introducing an additional layer of direct & ultra-low latency connectivity, effectively linking the two data centres as a unified entity, working seamlessly to maximise operational efficiency and effectiveness for customers. With a long tradition of pioneering breakthroughs that have brought high-speed internet to the market, HKBN is a leader in building innovative fibre infrastructures. Having invested billions of dollars into its proprietary world-class fibre infrastructure over the past three decades, HKBN is the only carrier in Hong Kong which operates a unique tri-carrier network (comprising three fibre optic networks of HKBN, WTT and NWT with coverage to over 8,000 commercial buildings and facilities), delivering unmatched route diversity to serve the complete range of needs from carriers and enterprises. Allen Fung, Vice Chairman and Executive Director of SUNeVision said, "We are pleased to announce the commencement of TKO Connect today. Our flagship data centre MEGA-i has for many years served as a critical interconnection hub for Asia and globally. The completion of TKO Connect, which links up MEGA-i with our TKO data centres (i.e. MEGA Plus and the new MEGA IDC) will substantially increase speed and improve latency of data exchange amongst these data centres. This enables our MEGA-i customers to expand seamlessly into our TKO data centres, unconstrained by the capacity at MEGA-i. This also allows our customers to build resilience by having multiple hubs within our MEGA Campus. We believe with the TKO Connect, together with new subsea cables that will 'land at' MEGA-i, will further strengthen SUNeVision's role as a critical hub in Asia." NiQ Lai, HKBN Co-Owner and Group CEO shared, "As a company driven by Purpose to 'Make our Home a Better Place to Live', our investments have always been a backbone for society's progress. This pioneering collaboration continues our commitment to deliver world leading industry-first breakthroughs for customers, as we redefine the subsea space to address hyper-accelerated demand from the Asia Pacific region's digital economy." ### [1] Land route leveraging Fixed Telecommunications Network Services (FTNS) providers' network [2] Distance between cable landing points of TKO Connect
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Cushman & Wakefield releases 2022 Environmental, Social and Governance Report
Cushman & Wakefield (NYSE: CWK), a leading global commercial real estate services firm, today released its 2022 Environmental, Social and Governance (ESG) Report. The ESG Report covers the firm's global impact and progress across key ESG areas during 2022, and progress on targets for the years to come as the firm helps shape a more sustainable, inclusive future for commercial real estate. Cushman & Wakefield views ESG as a key priority for the business and works to take bold action to advance ESG within its operations and for its clients around the world. The firm prioritizes responsible corporate citizenship, reducing its environmental impact and creating an inclusive workplace for all, while enabling clients to do the same. "Through our work, we aim to deliver real estate services with the highest standards of environmental care and social responsibility to drive purposeful change for our business and clients," said Cushman & Wakefield CEO Michelle MacKay. "Around the world, many of our clients are looking to us to help achieve their own ESG goals. Our size, scale and balance of strategic and technical capabilities make us well-suited to integrate ESG within the property lifecycle for our own firm and to help our clients do the same. Cushman & Wakefield's 2022 ESG Report shows the firm's meaningful progress in achieving our goals." Some of the firm's recent ESG highlights include: ENVIRONMENTAL Recognized among the first group of companies to have a net zero commitment validated by the Science Based Targets initiative (SBTi). Observed a 33% reduction in Scope 1 and 2 (market-based) GHG emissions since our 2019 baseline. Observed a 51% reduction in total Scope 1 and 2 (market-based) GHG emissions per million square feet of office space in 2022 as compared to 2021. Sourced 48% of Cushman & Wakefield's electricity for its operations from renewable[1] sources in 2022. Named an ENERGY STAR® Partner of the Year for 11th consecutive year in 2023. Provided energy and sustainability services to more than 38,750 buildings totaling approximately 930 million square feet (msf) of space globally. Launched new Global Sustainability Learning course to provide our people with an overview of sustainability and why it is important to Cushman & Wakefield. SOCIAL Spent $802.4 million with more than 3,600 diverse suppliers[2] in 2022 in North America, a 38% increase from the previous year. Women at Cushman & Wakefield New Hires: 41% women Compared to 42% in 2021 Executives: 41% women Compared to 22% in 2021 People Managers: 43% women Compared to 42% in 2021 Board of Directors: 44% women as of the publication date of the 2022 ESG Report Compared to 40% as reported in our 2021 ESG report 45% of U.S. employees are racially/ethnically diverse[3] Named 2023 Forbes America's Best Employers For Diversity Named 2023 Military Friendly® Employer in the U.S. Named 2022 Best Place to Work for LGBTQ Equality, Human Rights Campaign In 2022, more than 30,000 eligible employees completed two required DEI education courses, resulting in an 85% completion rate and more than 62,000 hours of DEI education. Produced more than 2,100 reports and thought leadership pieces, including insights on sustainability, workplace experience, logistics and more. GOVERNANCE Added ESG oversight responsibilities to the Nominating and Corporate Governance and Audit Committees of the Board of Directors. Named International Ethics Standards (IES) Coalition, Business Supporter Confirmed 92% of employees completed our annual Code of Business Conduct Training. The 2022 ESG Report offers a deep dive into what Cushman & Wakefield has accomplished, what is being planned, and how the firm's values across ESG areas drive impact. The report is prepared in accordance with the Global Reporting Initiative's (GRI) revised Universal Standards, which guide the development of the content and data provided therein. The report also contains disclosures recommended in the Real Estate Services standards that were developed by the Sustainability Accounting Standards Board (SASB). ### [1] C&W's acquisition of renewable energy in 2022 consisted of unbundled EACs (Energy Attribute Certificates) in the U.S., as well as the procurement of renewable energy via utility providers in some of our offices. [2] A business that is at least 51% owned and operated by a historically underrepresented or underserved individual or group qualifies as a diverse supplier. [3] Racially/ Ethnically diverse is defined as U.S. employees who identify their race/ ethnicity as American Indian or Alaska Native, Asian, Black or African American, Hispanic or Latino, Native Hawaiian or Pacific Islander, or Two or More Races
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CloudMile and Horangi Cyber Security Partner To Promote Cybersecurity Solutions for Businesses in Malaysia
CloudMile, a leading AI and cloud company and Google Cloud Managed Service Partner, has partnered with Horangi Cyber Security, a Bitdefender company based in Singapore, to promote Horangi's Warden Cloud Security Posture Management secure enterprise solutions for the Malaysia market, with a particular focus on financial and public sectors critical to Malaysia's economy. Data breaches have become increasingly common in Malaysia in the past two years. CyberSecurity Malaysia reported more than 20,000 cybersecurity cases including fraud, data breaches in 2021, with an unprecedented loss of RM560 million (US$127 million). With the rise in cyber threats, effective cybersecurity measures are essential to maintain the trust of customers, safeguard sensitive data, and ensure the continued viability of these sectors. "CloudMile understands the importance of having a robust cybersecurity strategy in place. CloudMile emphasises the use of a variety of cloud technologies and solutions to ensure that critical data and applications are secure and protected. By leveraging a range of cloud solutions, CloudMile is able to implement a layered security approach that provides redundancy and minimises the risk of data loss or breaches. This cybersecurity strategy demonstrates CloudMile's commitment to providing its clients with top-of-the-class solutions that prioritise security and protection," said Lester Leong, Country Manager in Malaysia of CloudMile. Effective cybersecurity measures are essential to maintain the trust of customers, safeguard sensitive data and ensure the continued viability of these sectors. Horangi's Warden Cloud Security Posture Management (CSPM) empowers business in these sectors to balance the concerns of compliance with the advantages of automation. Warden offers the automation of the discovery of misconfigurations in the cloud, paving the way for multi-cloud digital transformation through clear reporting and elimination of data security risks. Warden also helps with automated monitoring and policy enforcement technologies to mandate configuration and compliance standards and regulatory frameworks that FSIs must increasingly adhere to to remain compliant and secure. "Malaysia's banking and public sectors are critical to the country's economy, and it is essential to ensure that they are protected against cyber threats. Our partnership with Horangi and their leading cloud security expertise, will enable us to provide these sectors with the necessary tools and expertise solutions to protect themselves against cyber attacks and keep their operations secure," said Lester Leong, Country Manager in Malaysia of CloudMile. "With the increasing number of cyber threats, effective cybersecurity measures are essential to safeguard sensitive data and ensure the continued viability of these sectors," said Paul Hadjy, CEO and co-founder of Horangi Cyber Security, a Bitdefender Company. "CloudMile and Horangi are committed to providing tailored solutions to address these sectors' specific needs and protect businesses from cyber threats."
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September Fed meeting: expected hawkish rhetoric may support the U.S. dollar
The Federal Open Market Committee (FOMC) of the U.S. Federal Reserve will meet on 19 – 20 September to decide on changes to monetary policy. Market expectations indicate that the Fed will likely announce a pause, keeping the rate at 5.25%–5.5%, nearing a 22-year-high. During the previous FOMC meeting in July, the Federal Reserve raised the key rate again after one break of 25 bps and now stands at 5.25%–5.5%. The Fed's policy of raising rates aims at maximising employment and reducing and then holding inflation at 2%. According to the latest report from the U.S. Bureau of Labor Statistics released on 1 September 2023, the unemployment rate unexpectedly jumped to 3.8 % in August from 3.5% in July. The rising unemployment rate will add to expectations that the Federal Reserve will slow or pause rate hikes. Fresh inflation data released by the U.S. Bureau of Labour Statistics on 13 September 2023 reported that the U.S. consumer inflation rate increased sharply in August by 0.63% from 0.17% in July, and the annual inflation rate accelerated in August to 3.7% from 3.2% in July. Core CPI, which excludes food and energy, fell to 4.35% in August, down from 4.65% a month earlier and matched the consensus. 'According to the latest labour report, the Fed is widely expected to hold the key rate hiking at next week's FOMC meeting,' said Kar Yong Ang, the OctaFX financial market analyst. 'But due to August's mixed inflation data report, the Fed must keep a hawkish tone in its messaging. The core CPI is still too high and could accelerate,' he added. The key rate will likely remain unchanged at the September meeting of the U.S. Fed. Still, the accompanying rhetoric could be quite tough, signalling further possible monetary policy tightening. This will hurt capital markets, favouring the strengthening of the U.S. dollar. For example, this could impact currency pairs with the dollar, potentially leading to a rise in USDJPY to the 148.50–149.00 range.
