LIMA, PERU / SHANGHAI, CHINA – Media OutReach Newswire – 15 November 2024 – “From Chancay to Shanghai,” this expression has become quite popular in Peru, and it has finally become a reality. China’s financial hub Shanghai, which has the world’s largest port, is expected to welcome more goods from Latin America. And from Shanghai, these products will be shipped throughout Asia. The Chancay Port, which was […]
By Nitya Chakraborty Sri Lankan President Anura Dissanayake has led his leftist coalition of 21 parties National People’s Power (NPP) to power in the island nation with a massive victory in the elections to Parliament held on Sunday, November 14. With most of the ballots counted by Friday morning, the NPP was far ahead bagging […]Masdar, the clean energy powerhouse based in the United Arab Emirates, has announced plans to develop a 1GW wind farm in the Mingbulak region of Uzbekistan. This significant renewable energy project underscores Masdar’s ongoing expansion in Central Asia, positioning the company as a key player in the region’s transition toward sustainable energy. The wind farm, located in one of the country’s most promising areas for wind energy […]
Saudi Arabia has further solidified its leadership in global green energy initiatives by signing a groundbreaking pact with Central Asian nations at COP29, amplifying efforts to address climate challenges and push for a greener future. This move, which underscores Riyadh’s commitment to transitioning to renewable energy, involves cooperation with countries such as Kazakhstan, Uzbekistan, and Turkmenistan. The deal aims to foster energy interconnections, share technology, and invest […]
Abu Dhabi’s sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA), is significantly increasing its allocations to private equity in a strategic pivot to enhance long-term returns. This move underscores ADIA’s growing interest in high-risk, high-reward investment opportunities as it adapts to global market shifts. The fund’s decision comes at a time when traditional investment avenues are facing unprecedented volatility and when private equity is seen as […]
LOS ANGELES, USA – Media OutReach Newswire – 15 November 2024 – Livestreaming platform Bigo Live is set to bring Season 3 of its talent competition, BIGO’s Most Talented, to a thrilling conclusion with the Grand Finale on October 16 in Los Angeles. This innovative virtual talent show blends the competitive excitement of traditional reality TV with the interactivity of live streaming, using engagement as a unique […]
Viu, the pan-regional OTT video streaming service operated by PCCW, has expanded its offerings in the UAE by introducing a new benefit for its Viu Premium subscribers. As part of this initiative, new subscribers to the Viu Premium service will receive a complimentary Careem Plus subscription, enhancing their streaming experience with added value.
The partnership between Viu and Careem, the popular ride-hailing and services platform, brings together two prominent players in the region’s digital landscape. Careem Plus offers a variety of perks, including discounts on rides, food delivery, and more. This collaboration aims to not only strengthen Viu’s position in the competitive streaming market but also provide a broader suite of benefits for consumers.
This move follows a series of efforts by Viu to maintain its relevance in the increasingly crowded OTT sector. Viu has been expanding its content library and services across the Middle East and North Africa (MENA) region, targeting a growing base of digital-first consumers who are looking for diverse entertainment options. By offering added value through the Careem Plus subscription, Viu seeks to differentiate itself from other streaming platforms operating in the UAE and the larger Gulf region.
The strategy also aligns with broader regional trends, where OTT platforms are increasingly bundling services to offer more comprehensive packages. The integration of third-party services, such as ride-hailing or food delivery, has become a key strategy for service providers to boost customer loyalty and enhance user experience. This type of cross-sector partnership is growing in popularity, as it creates a more holistic ecosystem for consumers, blending entertainment with convenience.
For Careem, the collaboration with Viu allows the company to tap into the expanding base of Viu subscribers, potentially increasing its reach in the UAE. Careem’s move to offer exclusive perks to Viu Premium subscribers further underscores the platform’s efforts to enhance its value proposition, especially as it continues to evolve beyond its original ride-hailing model. The company, which has expanded into services like food delivery and digital payment solutions, has long been striving to position itself as an all-in-one lifestyle app in the region.
Viu’s premium service offers a wide range of on-demand content, including popular Arabic, Asian, and international shows, as well as movies and exclusive originals. With the addition of the Careem Plus subscription, Viu is aiming to elevate its value offering and cater to a broader audience who may be interested in both entertainment and lifestyle services. The initiative also highlights a broader trend in the OTT space, where platforms are looking for innovative ways to keep their customers engaged and retain their subscriptions in an environment where consumer loyalty is hard to maintain.
The UAE market, known for its high smartphone penetration and advanced digital infrastructure, has seen a rapid increase in the adoption of OTT services over the past few years. The shift toward on-demand entertainment, accelerated by the global pandemic, has contributed to the growth of digital streaming platforms. However, the competition remains fierce, with global players like Netflix, Amazon Prime, and regional services such as OSN and Shahid vying for consumer attention.
Viu, which operates in 16 markets across the Asia-Pacific and MENA regions, faces increasing competition in the UAE and wider MENA market, where local and international content providers are aggressively pursuing market share. By introducing perks such as the Careem Plus subscription, Viu hopes to add a layer of convenience that appeals to the diverse and digitally savvy consumers of the UAE, who are accustomed to seamless, multifaceted services.
The Viu-Careem collaboration also highlights a shift in the region’s approach to digital services, with companies moving toward integrated digital ecosystems. By bundling various services under one umbrella, companies are encouraging consumer stickiness. For instance, Viu subscribers can now enjoy discounts on Careem rides or deliveries, while Careem users can benefit from entertainment options from Viu. This model may set a new precedent for future partnerships in the region, where the boundary between entertainment, travel, and lifestyle services continues to blur.
The promotion is available to new Viu Premium subscribers in the UAE, with terms and conditions applicable to the complimentary Careem Plus subscription. The launch comes at a time when many OTT platforms are re-evaluating their strategies to stay competitive. As subscription fatigue sets in among users who are overwhelmed by an abundance of platforms, value-added features like the Careem Plus subscription can help sway potential customers toward Viu’s premium offering.
A grand kick-off ceremony will be held on November 28, showcasing unique photo spots that embody the charm of a European-style Christmas. Guests are invited to enjoy a luxurious experience of fine dining, entertainment, and shopping all in one destination. MACAU SAR – Media OutReach Newswire – 15 November 2024 – As winter approaches, Galaxy Macau™ Integrated Resort (hereafter “Galaxy Macau”) is set to transform into a […]
HONG KONG SAR – Media OutReach Newswire – 15 November 2024 – The Elite Programme of Hong Kong Science and Technology Parks Corporation (HKSTP) aims to nurture both local and international tech ventures with high growth potential. With 24 companies currently active in the programme, including 13 home-grown companies and 11 from overseas, the Elite companies span across different industries, including AI & robotics, life and health […]
SINGAPORE – Media OutReach Newswire – 14 November 2024 – Eude Technology PTE. LTD. (Eude Technology) is proud to announce a strategic research partnership with Nanyang Technological University’s (NTU) College of Computing and Data Science, Division of Artificial Intelligence. This collaboration will focus on groundbreaking research in frontier AI technologies, with an emphasis on developing next-generation Large Language Models (LLMs). The partnership brings together Eude Technology’s entrepreneurial […]
SINGAPORE – Media OutReach Newswire – 14 November 2024 – Singapore-headquartered and SGX-listed Sheffield Green held the inauguration ceremony for its first training centre under Wind Asia Training on October 23, 2024 in Machohou Industrial Park in Chiayi County, Taiwan. This marks a significant milestone for the company’s global training business. The training centre operates by leveraging on the synergy of funding, technology, and expertise from Singapore, […]
Shaping Responsible Supply Chains for a Sustainable Future HONG KONG SAR – Media OutReach Newswire – 14 November 2024 – Organised by amfori, a leading global business association for sustainable trade, its highly anticipated flagship event “amfori Asia Sustainability Summit” was concluded with great success yesterday at Hotel ICON in Hong Kong SAR, China. Attracting over a hundred participants from across Asia, this event highlighted the significant […]
HONG KONG SAR – Media OutReach Newswire – 14 November 2024 – OneConnect Financial Technology Co., Ltd (“OneConnect” or the “Company”, NYSE: OCFT, HKSE: 6638), a business technology service provider for financial institutions, announced its results for the first three quarters ending September 30, 2024. 2024 is a pivotal year for OneConnect as it advanced the second phase of its strategy, focusing on “product upgrades, deepening customer […]
Prudential customers now have access to ten cancer clinics, including a one-stop integrated cancer centre at Icon Cancer Centre Singapore HONG KONG SAR – Media OutReach Newswire – 14 November 2024 – Prudential plc (“Prudential”) and Icon Cancer Centre Singapore (“Icon”) today announced a partnership that will provide Prudential’s health customers in Singapore and Indonesia access to outpatient cancer treatment, on a cashless basis[1], at Icon’s clinics […]
Following the victory of Donald Trump in the 2024 U.S. presidential elections, the UAE has experienced a significant surge in remittance flows, with major beneficiaries being India and the Philippines. This spike is attributed to a combination of factors, including a shift in economic dynamics, increasing confidence in the stability of the global economy, and adjustments in the exchange rates. With these countries historically being some of the largest recipients of remittances from the UAE, the recent growth reflects deeper patterns in the region’s labor markets, trade relations, and the broader economic impact of political developments in the United States.
The rise in remittances highlights an enduring trend of expatriates from South Asia and Southeast Asia sending money home, especially in the face of shifting geopolitical and economic landscapes. While the UAE has long been a hub for foreign workers, the current influx of financial support underscores both the strength of these diasporas and their economic significance to the countries of origin. India and the Philippines, two of the top remittance-receiving nations globally, have seen increases that could have significant effects on their local economies, particularly in terms of poverty reduction, infrastructure development, and consumption spending.
For India, which is consistently one of the largest recipients of remittances globally, the increase reflects ongoing economic stability. Many Indian workers in the UAE are employed in sectors such as construction, hospitality, and services, industries that have been impacted by fluctuating global demand. However, with Trump’s victory, there has been a renewed optimism about the UAE’s economic outlook, boosting confidence among remitters. Additionally, the Indian Rupee’s performance against the UAE Dirham has also played a crucial role in making remittance transfers more lucrative for Indian workers, with an improved exchange rate encouraging them to send more money home.
Philippine remittance volumes have mirrored this surge, driven by the large number of Filipino workers across various sectors in the UAE. The increase in remittances to the Philippines is tied to both economic and political factors. With Trump’s win, many Filipino workers have reported feeling more confident in their job security within the UAE, leading to higher disposable incomes and an increased desire to support their families back home. The Duterte administration’s improved diplomatic relations with the UAE, as well as the UAE’s robust labor laws, have also contributed to a more secure working environment for Filipino expatriates. Furthermore, the Philippine government has actively encouraged remittances as a key element in sustaining the country’s economic growth, which is evident in the increased financial flows back home.
One of the key drivers behind the rising remittance numbers is the favorable exchange rate that has emerged following Trump’s victory. The UAE Dirham is pegged to the U.S. Dollar, and with Trump’s anticipated pro-business policies, many economists predict continued economic growth in the region, leading to stronger currencies like the Dirham. As a result, workers from India and the Philippines are able to send larger amounts of money home for each unit of foreign currency they earn.
This surge also aligns with broader trends in global migration patterns, where many labor-exporting countries have seen their nationals continue to seek employment in the UAE despite challenges posed by the global economy. With job opportunities available in sectors like construction, health care, and information technology, both India and the Philippines remain major exporters of labor to the UAE, a relationship that continues to be a vital component of both nations’ economic strategies.
Another factor influencing the rise in remittances is the UAE’s active role in international trade. Trump’s foreign policy outlook, which tends to favor global markets and open trade policies, has reinforced investor confidence in the UAE, positioning it as a leading financial center in the region. This has had a trickle-down effect on remittances, as expatriates feel more secure in sending money back home, knowing that the overall economic stability of the UAE is likely to hold steady.
For both India and the Philippines, remittances are a critical pillar of economic support. The funds sent by workers abroad contribute significantly to the countries’ GDP, provide direct financial assistance to households, and bolster government revenues. In India, remittances have been linked to the reduction of poverty, greater access to education and healthcare, and even the growth of small businesses. Similarly, in the Philippines, remittances support everything from consumer spending to investments in rural development and infrastructure projects.
Despite the positive impact of these remittance flows, challenges persist. The COVID-19 pandemic had a brief dampening effect on global remittances due to economic uncertainties and travel restrictions, but the post-pandemic recovery has led to a strong rebound in money transfers, especially from the UAE. Many of the expatriate workers in the UAE rely heavily on their income to support families in their home countries, making the rise in remittances particularly crucial for those living in more economically vulnerable regions.
SHANGHAI, CHINA – Media OutReach Newswire – 14 November 2024 – HonKuwa Pharmaceutical Co., Ltd., Japan, made a significant debut at the 7th China International Import Expo (CIIE), presenting two new products—a plaster and a gel—designed to invigorate blood circulation, alleviate pain, and promote muscle and joint health. Both products are formulated with extracts from mint and traditional Chinese herbal ingredients, crafted to be non-allergenic. They provide […]
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 14 November 2024 – Adding exotic currency pairs to a portfolio is a popular way to get exposed to a wider variety of assets. These pairs, which include currencies from emerging markets or smaller economies, offer unique opportunities due to their volatility and potential for high returns. For traders in regions like India and Southeast Asia, exotic pairs can […]
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 12 November 2024 – The recent U.S. presidential election and subsequent economic events have significantly impacted the Malaysian Ringgit (MYR), with the USDMYR exchange rate reaching a three-month high on Monday. Octa Broker’s financial market analyst, Kar Yong Ang, explains the reasons for the recent weakness in the Malaysian ringgit and provides short-term exchange rate projections. It has been […]
HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 13 November 2024 – coocaa, a high-aesthetic home appliance brand, is committed to a passionate pursuit of design and aesthetics, blending fashion and art into every product. This unique approach has made it a favorite among young consumers and a top TV brand in the Asia-Pacific region. As part of the year-end promotional season, Coocaa is partnering […]
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 13 November 2024 – As China solidifies its influence across Southeast Asia, it becomes the region’s largest trading partner and a crucial investor in areas like infrastructure, technology, and renewable energy. This release explores how China’s expanding economic reach shapes Southeast Asian markets, from Indonesia’s booming coal exports to Vietnam’s tech transformation, and provides a glimpse into future growth […]
Providing a snapshot of the SaloneSatellite Collection and showcasing the talents of emerging international designers at the West Kowloon Cultural District until 21 November HONG KONG SAR – Media OutReach Newswire – 12 November 2024 – The much-anticipated ‘SaloneSatellite Permanent Collection 1998-2024’ Exhibition makes its official debut in Hong Kong today, showcasing more than 100 innovative award-winning works by talented international designers at the Arts Pavilion of […]
The Zimbabwe-Zambia (Zim-Zam) Energy Projects Summit will take place from November 18-20, 2024, in Victoria Falls, Zimbabwe, and could not be more timely. With the governments of both countries making innovative structural changes to make energy projects more bankable, appetite for investment is high. This is the opportunity to secure a more sustainable energy future for both Zimbabwe and Zambia. LONDON, UK – EQS Newswire – 12 […]
Abu Dhabi-based renewable energy giant Masdar has announced a significant milestone in its efforts to expand global clean energy projects, with its 1-gigawatt (GW) wind farm in Kazakhstan nearing its final stages of development. This marks a crucial step in the Middle Eastern energy company’s continued push into the renewable sector, aligning with Kazakhstan’s commitment to transition toward more sustainable energy sources. The wind farm, which is […]
HANOI, VIETNAM – Media OutReach Newswire – 12 November 2024 – On 12 November 2024, Vingroup, Vietnam’s largest private conglomerate, and its Chairman, Mr. Pham Nhat Vuong, announced a significant financial commitment to VinFast, the Vietnamese Nasdaq-listed electric vehicle maker. Vingroup plans to lend VinFast up to 35 trillion Vietnamese dong ($1.4 billion) by the end of 2026. Additionally, Mr. Vuong has personally pledged 50 trillion dong […]
