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Alongside the credit facility, the two parties also implemented digital account management and payment systems for Green GSM’s driver network. Through PNB’s corporate banking platform and digitized onboarding processes, account opening and activation times are significantly reduced, helping Green GSM strengthen operational management as it expands driver network.

As cities continue to seek lower-emission transport solutions, financial systems, digital payments, driver management and operating standards are becoming increasingly important to supporting mobility platforms at scale.

In the Philippines, Green GSM is building mobility model through the integration of technology, an all-electric fleet, and standardized operating systems. Following its strategic partnership with Xentro Group in 2025 and the launch of the Green Xentro fleet in Rizal earlier this year, the company continues to expand its presence through long-term collaborations with local partners and domestic financial institutions.

“We appreciate Green GSM’s long-term development direction in the Philippines, not only in advancing low-emission mobility, but also in the way the company is building an operating model with scalability and clear governance foundations,” said Mr. Edwin R. Bautista, President and Chief Executive Officer of PNB. “The transition toward sustainable transport will require ecosystems capable of supporting stable long-term growth, together with the financial and operational foundations needed to enable that expansion.”

Ms. Le Thi Thu Trang, Chief Executive Officer of Green GSM Philippines, said: “For Green GSM, developing an all-electric mobility model is not only about expanding the fleet, but also about building an operating system that is stable, standardized, and capable of sustainable long-term growth. Our partnership with PNB will help strengthen the financial and operational foundations needed to enhance service quality and support Green GSM’s continued expansion in the Philippines.”

Green GSM develops its all-electric mobility model through the combination of technology, standardized operating systems, and professionally trained drivers. The platform is supported by real-time monitoring and operational systems designed to maintain service consistency across major urban areas.

The partnership with PNB further reinforces Green GSM’s long-term direction in the Philippines, where the company continues to strengthen its operating foundations, service standards, and driver support systems in order to maintain service quality as operations scale further.

Hashtag: #GreenSM

The issuer is solely responsible for the content of this announcement.

About GSM & Green SM

GSM (Green Smart Mobility) is a pioneering multi-platform company operating all-electric ride-hailing services. With a focus on sustainable transport development, GSM operates a mobility model powered entirely by VinFast electric vehicles, combining technology, service standards, and operational ecosystems to support the future of low-emission urban mobility.

Green GSM is GSM’s official brand in the Philippines and is part of the broader Green SM global ecosystem, alongside Xanh SM in Vietnam and Laos, and Green SM in Indonesia. Across all markets, the brand focuses on delivering modern mobility experiences through VinFast electric vehicles, professional drivers, and operating systems built around safety, consistency, and service quality.

About Philippine National Bank (PNB)

Philippine National Bank (PNB) is one of the Philippines’ largest private commercial banks in terms of assets and deposits. The bank provides a full range of financial and banking services to individual customers, businesses, institutions, and overseas Filipino communities. With a history spanning more than a century, PNB continues to focus on growth strategies driven by digital transformation, operational efficiency, and sustainable development in the financial sector.

Shares in Masayoshi Son’s technology investment group surged in Tokyo trading, lifting its market value to about ¥47.2 trillion, or roughly $296 billion, ahead of Toyota’s ¥45.7 trillion after the carmaker’s stock fell nearly 5 per cent. The move placed SoftBank at the top of Japan’s corporate valuation table for the first time in more than two decades and added momentum to a Nikkei 225 rally that pushed the index above 67,000.

The change is more than a stock-market milestone. It reflects how the AI boom has reshaped capital allocation in Japan, where investors are assigning higher value to companies with exposure to semiconductors, data centres, power infrastructure and generative AI platforms. Toyota remains one of the world’s largest and most profitable carmakers, but its valuation is now being weighed against a slower earnings outlook, tariff pressure, currency swings and the heavy cost of electrification.

SoftBank’s advance has been driven by a powerful combination of portfolio gains and expectations that its AI-linked holdings could generate fresh liquidity. The group’s exposure to Arm, the British chip-design company it took public in 2023, has become a key pillar of its market value. Arm’s technology is used widely across smartphones, cloud computing and increasingly AI-related chips, giving SoftBank a central position in the semiconductor supply chain.

OpenAI has become the second major driver of investor attention. SoftBank has committed tens of billions of dollars to the ChatGPT developer and is positioning itself as a core financier of AI infrastructure. Expectations that OpenAI could move towards a public listing have intensified interest in SoftBank’s asset base, even as analysts continue to debate how much of the group’s valuation depends on private-market pricing and future monetisation.

The latest surge followed SoftBank’s plan to invest up to €75 billion in AI infrastructure in France, including data centres and power-intensive computing capacity. The first phase is expected to involve about €45 billion of investment to build 3.1 gigawatts of capacity by 2031, with further expansion potentially taking the total to 5 gigawatts. The project places France at the centre of Europe’s push to develop sovereign AI infrastructure, helped by its nuclear-heavy power system and available industrial sites.

SoftBank is also moving to create public-market vehicles around AI infrastructure. SB Energy, its power and data-centre platform, is preparing for a potential US listing and has been linked to a valuation above $50 billion. The company is involved in large-scale power projects designed to support AI workloads, including a 1.2-gigawatt data-centre development in Texas. A separate robotics venture, Roze, is also being prepared for a possible listing, highlighting SoftBank’s attempt to build an ecosystem around energy, construction automation and computing capacity.

Toyota’s fall in ranking does not signal operational weakness. The carmaker reported operating income of ¥3.8 trillion for the financial year ended March 2026, supported by vehicle sales and pricing power despite tariff costs and rising expenses. It remains a global force in hybrid technology, production efficiency and supply-chain management. However, investors have become more cautious about its growth outlook as the auto sector faces higher regulatory costs, slower battery-electric vehicle adoption in some markets, and intensifying competition from China-based manufacturers.

The contrast between SoftBank and Toyota captures a broader reordering of Japan’s equity market. AI-linked names, chip suppliers and infrastructure companies are drawing strong inflows, while parts of the auto sector and older industrial groups face questions over margin durability. Kioxia, the memory-chip maker, has also climbed sharply this year, showing how investor enthusiasm has spread beyond SoftBank into companies tied to storage and high-performance computing.

The rally has strengthened the profile of Son, whose investment record has swung between spectacular gains and painful losses. SoftBank’s Vision Fund suffered heavy write-downs after the collapse in technology valuations in 2021 and 2022, while earlier bets such as WeWork damaged confidence in the group’s risk controls. Its comeback has been powered by a more concentrated AI narrative, but that also leaves the shares vulnerable if expectations around OpenAI, Arm or infrastructure listings are revised lower.

For details: https://www.eternal.hk/the-eternal-path-to-china/

Downloadable Photo: https://drive.google.com/drive/folders/1awiWHa161_BbmFiJVdW_dE8gIm7imaJV?usp=sharing

A Flagship Seminar with Industry Leaders

The flagship session, “Paving the Way to China Fragrance Market,” will take place on 5 June 2026 from 15:00 to 15:45 (CEST) at the Conference Hall on the Main Stage of Esxence 2026. A distinguished panel of industry experts will examine China’s economic landscape and fragrance market, offering practical and insight-driven perspectives on successful market entry strategies. The confirmed speakers are Mr. Stefano De Paoli, Italy Chief Representative of InvestHK; Mr. Haocong Weng, Director of the Xuelei Fragrance Museum; Ms. Wincy Tang, General Manager of Marketing and Partnership at Experience 11 Limited, and Ms. Cindy Chung, Director of General Affairs of Eternal Group.

Beyond the Seminar: A Full Suite of Brand Resources

Beyond the seminar, Eternal Group has curated a comprehensive suite of resources to equip brands with actionable intelligence and operational guidance. Six industry talks will be held at Business Lounge No. 8 with speakers from Hong Kong Productivity Council, PricewaterhouseCoopers, The Loops Hong Kong, as well as expertise from Eternal Group. Topics will cover regulatory compliance, emerging marketing trends, and brand storytelling tailored for Chinese consumers. One-on-one consultations will offer bespoke advisory sessions with Eternal Group’s senior experts. In addition, attendees will have access to The China Market Entry Blueprint, a proprietary guide featuring market insights and consumer trend analysis, NMPA compliance pathways and formula testing requirements, localization best practices, as well as marketing, PR, and retail channel strategies across shopping malls, pop‑ups, and museums.

“For more than 40 years, Eternal Group has served as a trusted bridge for international fragrance brands navigating the complexities of the China market,” said Ms Wendy Lau, Executive Director of Eternal Group.”With ‘The Eternal Path to China’ at Esxence 2026, we are transforming complexity into clarity—providing strategic insights, trusted partnership and a clear pathway to market success. Whether a brand is taking its first step or strengthening its existing presence, we are here to guide its journey into the China market.”

Registration & Inquiries

You are invited to attend the seminar, industry talks, and exclusive briefings. To register or schedule interviews with speakers or Eternal Group representatives, please contact the PR & Corporate Communication Department at ccd@eternal.hk. To register for the seminar, please visit: https://bit.ly/3PRfOrM.

Remarks:

To access both the Conference Hall and Business Lounge, please purchase a standard Esxence ticket on VivaTicket.com. The ticket includes exhibition access (first 3 days are open to industry professionals only; the final day is open to the public). Consumers may register by contacting: events@equipemilano.com.

Hashtag: #EternalGroup

The issuer is solely responsible for the content of this announcement.

About Eternal Beauty Holdings Limited (Stock Code: 6883.HK)

Eternal Beauty Holdings Limited (Eternal Group) is the largest perfume group (apart from brand-owner perfume groups) in China (including Hong Kong and Macao) in terms of retail sales in 2023*. It primarily sells and distributes products procured from third-party brand licensors, and deploys market for these brand licensors, offering such services as brand management, and designing and implementing customized market entry and expansion plans for their brands. The Group boasts large and diversified brand portfolios that include not only perfumes, but also color cosmetics, skincare products, personal care products, eyewear and home fragrances. As at 31 March 2026, it conducted product distribution and market deployment for a total of 75 external brands, including Hermès, Van Cleef & Arpels, Chopard, Albion and Laura Mercier, with products in different pricing tiers and of versatile features that meet the differentiated demands of consumers in Chinese Mainland, Hong Kong and/or Macao. Website: www.eternal.hk

*Data source: Frost & Sullivan

About Esxence

Esxence – The Art Perfumery Event has been the International Artistic Perfumery Event since 2009, it represents for professionals and enthusiasts the opportunity to meet the real protagonists of this fascinating world of fragrances, where history and tradition combine with innovation and research. An exhibition area dedicated to excellence, together with a rich and interesting calendar of meetings and events, which offer to the public – last edition reached more than 10,000 attendees – a unique and unmissable experience. Website: http://esxence.com

By Nitya Chakraborty Facing the big possibility of China taking control of the new Junta government in Myanmar which took office last month, Indian policy makers are now very keen to give a big push to the India-Myanmar relations covering both economy and security aspects. Myanmar President U Min Aung Hlaing is in India visit […]

The article Facing Major Challenge From China, India Set To Improve Bilateral Relations With Myanmar appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The Ministry of Energy and Mineral Resources is working with the Ministry of Agrarian Affairs and Spatial Planning, state electricity company PLN and other agencies to identify land, grid links and storage systems needed for the programme. About 24,000 hectares on Java Island have been earmarked for verification, with the authorities seeking to match project sites with transmission lines, PLN substations and battery storage capacity.

Deputy Energy and Mineral Resources Minister Yuliot Tanjung said the government’s first priority is to push ahead with an initial 17 GW phase, supported by around 33 GW of battery energy storage systems. The early phase is expected to test the country’s ability to turn a national target into bankable projects at scale, particularly in areas where land acquisition, grid connection and tariff design have slowed renewable energy investment.

The wider 100 GW plan is designed to reduce Indonesia’s reliance on diesel and gas-fired generation, particularly in regions where imported fuel and high operating costs have weighed on the state budget. Officials have estimated that converting fossil fuel-based generation to solar power combined with battery storage could cut electricity generation costs by up to Rp73.9 trillion, or about $4.18 billion, a year once implemented at scale.

The programme also reflects Jakarta’s attempt to close the gap between Indonesia’s large solar potential and its modest installed capacity. The country has abundant sunshine across its islands, yet solar has remained a small part of the electricity mix compared with coal, gas, hydro and geothermal power. Rooftop and utility-scale solar deployment has been constrained by regulatory uncertainty, procurement delays, grid limitations and the financial position of PLN.

Indonesia’s latest electricity supply plan for 2025-2034 calls for 69.5 GW of new generation capacity, with renewable energy making up a large share of future additions. Solar is expected to play a central role in that expansion, with PLN’s planning framework pointing to 17.1 GW of new solar capacity by 2034 alongside hydro, geothermal, wind and storage projects. The 100 GW programme goes beyond that planning baseline and signals a more aggressive policy push from President Prabowo Subianto’s administration.

A key feature of the solar strategy is its decentralised design. Earlier planning discussions have described a model that could combine large centralised solar plants with smaller village-level systems, many paired with batteries. Such an approach could help remote communities replace diesel generation, improve supply reliability and reduce exposure to fuel price volatility, while also creating demand for locally produced panels, batteries, inverters and grid equipment.

The proposed investment scale underlines the financing challenge. A $71.3 billion programme would require state support, PLN procurement commitments, private sector participation, concessional finance and possibly blended funding from climate-related investment platforms. Indonesia has already attracted international attention through its Just Energy Transition Partnership, but converting pledges into project-level funding has remained difficult, particularly because coal continues to dominate power generation and captive industrial power demand is rising.

Land availability will be another decisive issue. Java, the country’s most populous island and main electricity demand centre, offers stronger grid connectivity but also intense competition for land. The identification of 24,000 hectares is a first step rather than a final allocation, as each site must still pass verification covering ownership, spatial planning, environmental suitability and connection feasibility.

Grid readiness may prove equally important. Large volumes of intermittent solar power will require stronger transmission networks, flexible generation, storage systems and updated dispatch rules. Battery storage is central to the plan because solar output peaks during daylight hours while demand often rises in the evening. Without adequate storage and grid upgrades, high solar penetration could create curtailment risks and weaken project economics.

The programme could strengthen Indonesia’s industrial policy if it succeeds in building domestic solar manufacturing capacity. Officials have linked the plan to demand for locally produced panels, a move that could support factories, create jobs and reduce exposure to import barriers in global solar trade. The strategy comes as several countries seek to capture more of the clean energy supply chain, from polysilicon and wafers to modules and battery systems.

Indonesia’s energy transition remains complicated by its coal-heavy electricity system, long-term power purchase agreements and the need to provide affordable energy to households and industry. Coal plants still anchor baseload supply, while nickel processing and other industrial sectors have increased captive power demand. Those pressures make the solar programme both a climate policy instrument and an energy security strategy.

Work on floating solar projects, rooftop systems and village electrification schemes has already begun to build momentum. PLN’s Saguling floating solar project in West Java, scheduled for commercial operation in late 2026, is one of several projects intended to demonstrate technical and commercial viability. The larger 100 GW plan, however, will require faster procurement, clearer tariff rules and stronger coordination across ministries, PLN, regional governments and investors.

The California-based server maker said the equipment had first been sold through an authorised reseller before being deceptively acquired and targeted for illicit diversion. Its statement framed the case as a successful intervention rather than a failure of internal controls, stressing that it had worked with Taiwan authorities to stop the movement of high-value systems used in artificial intelligence data centres.

The case has drawn attention because Supermicro sits at the centre of the AI infrastructure boom, supplying servers that integrate advanced graphics processors and networking components used to train and run large AI models. Such systems have become strategically sensitive as Washington, Taipei and allied governments tighten oversight of technology flows to mainland China, Hong Kong and Macau.

Taiwan prosecutors have been investigating suspects accused of falsifying export documents for high-end AI servers containing Nvidia chips. The servers were allegedly routed through Japan as part of an attempt to move restricted technology onwards to China-linked buyers. The seizure of 50 systems, though small compared with global AI server demand, is significant because it shows authorities are now pursuing hardware diversions beyond the better-known routes through Southeast Asia.

Supermicro’s response is also shaped by a separate and larger US criminal case that has placed the company under scrutiny. In March, US prosecutors charged three people linked to Super Micro Computer, including co-founder Yih-Shyan “Wally” Liaw, in an alleged conspiracy to divert about $2.5bn worth of AI server technology to China in violation of export controls. Liaw and another defendant were arrested, while a third defendant was listed as a fugitive. Super Micro Computer itself was not named as a defendant.

That case alleged a sophisticated scheme involving shell companies, false shipping documents, repackaging and dummy servers designed to mislead compliance checks. Prosecutors said controlled AI server technology was moved from the United States to Taiwan before being redirected through intermediary locations to reach Chinese customers. The allegations intensified questions over how manufacturers, distributors and resellers monitor the final destination of advanced hardware once it leaves controlled channels.

Supermicro has denied institutional wrongdoing and has said the conduct alleged in the US case violated company policies. The latest Taiwan-linked statement attempts to reinforce that message by presenting the firm as a partner to investigators. It thanked law-enforcement and legal officials, while saying industry and government must work together to strengthen safeguards and improve supply-chain visibility.

The timing matters for investors. Supermicro has been one of the most closely watched hardware suppliers during the AI build-out, benefiting from surging demand for rack-scale servers used by cloud providers, enterprises and sovereign AI projects. That growth has made export-control compliance a material business risk. A single enforcement case can raise concerns about sales screening, reseller audits, customer identification and shipment tracking, even when the company is not accused of direct wrongdoing.

Nvidia’s position adds another layer to the issue. Its most advanced AI processors remain central to global data-centre expansion, and restrictions on sales to China have forced chipmakers and server companies to navigate a shifting regulatory environment. Nvidia has repeatedly said it follows export rules and does not support unlawfully exported products. Its chief executive, Jensen Huang, has also underlined that server vendors must maintain their own compliance standards when handling systems containing restricted chips.

The Taiwan action highlights a broader enforcement shift. Authorities are no longer focused only on chip shipments; fully assembled AI servers are now a priority because they can be more difficult to trace after integration. Servers may contain restricted processors, specialised networking, memory and cooling systems that together create the computing power needed for frontier AI workloads. Once such systems are broken into multiple shipments or passed through resellers, detecting diversion becomes more complex.

Guan replaces Wang Zhonglin, who has been removed from the posts of Hubei Party secretary, standing committee member and provincial committee member, with a further assignment to be announced. The decision was conveyed at a provincial leadership meeting in Wuhan on May 30, where the central authorities described the change as part of a broader assessment of Hubei’s leadership needs and development priorities.

The appointment gives Guan control of the top political office in a province that sits at the centre of China’s inland transport network and plays a strategic role in advanced manufacturing, water management, grain logistics and Yangtze River economic planning. Hubei’s capital, Wuhan, is a major base for automotive production, optoelectronics, universities, biomedical research and high-end equipment, making the province a testing ground for Beijing’s effort to combine industrial upgrading with regional balance.

Guan, born in December 1969 in Shenyang, Liaoning province, is 56 and a member of the Manchu ethnic group. He holds a doctorate in science and is an alternate member of the 20th Communist Party Central Committee. His career has moved through county administration, municipal planning, provincial government, propaganda work, forestry governance and national resource management, giving him a profile that spans both local economic administration and central regulatory oversight.

His move to Hubei comes less than two years after he rose to the Ministry of Natural Resources, where he became Party secretary and minister in December 2024. That ministry oversees land use, mineral resources, territorial spatial planning, marine resources, surveying and natural resource supervision, areas closely tied to China’s drive to improve food security, industrial self-reliance, ecological protection and urban development discipline.

Before entering the central government, Guan spent much of his early career in Liaoning, including posts linked to Shenyang’s planning and land resources system, Faku county administration, agricultural affairs and provincial government coordination. He later served on the Liaoning provincial Party standing committee and chaired the provincial federation of trade unions. A transfer to Shandong in 2018 placed him in charge of propaganda work and education-related Party responsibilities before his move to Beijing in 2020 to lead the National Forestry and Grassland Administration.

That background is likely to shape his work in Hubei, where economic policy is intertwined with land redevelopment, ecological protection along the Yangtze, flood control, industrial zoning and rural revitalisation. Hubei has long been central to China’s “Rise of Central China” strategy, but it also faces familiar pressures, including uneven local government finances, competition for investment, the need to raise household consumption and the challenge of moving manufacturers up the value chain.

Hubei’s economy expanded to 6.266 trillion yuan in 2025, growing 5.5 per cent year on year. Wuhan’s output reached 2.215 trillion yuan, up 5.6 per cent, reinforcing the city’s role as the province’s growth engine. Provincial authorities have set a 2026 growth target of about 5.5 per cent, alongside efforts to keep surveyed urban unemployment at about 5.5 per cent, signalling a policy mix focused on steady expansion, employment and industrial resilience.

The province’s leadership team now pairs Guan with Governor Li Dianxun, who has emphasised manufacturing, consumption, technological innovation and service-sector upgrading in this year’s government work agenda. Hubei has sought to attract investment into automotive components, new energy supply chains, digital industries and cultural consumption, while also promoting Wuhan’s role as a national science and education hub.

Guan’s appointment also reflects a wider pattern in China’s cadre management, where central authorities rotate officials between ministries and provinces to align local governance with national policy priorities. Hubei has political significance beyond its economic weight because of Wuhan’s transport links, its university and research base, and its position along the Yangtze River, a corridor Beijing regards as vital to both industrial security and environmental protection.

Wang Zhonglin, Guan’s predecessor, had led Hubei since late 2024 after serving as governor and, earlier, Party secretary of Wuhan during the city’s post-pandemic recovery. His next role has not been disclosed, leaving the latest move as part of an unfinished personnel sequence at provincial level.