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Chinese Mainland and Chinese Hong Kong account for half of top ten ASPAC fintech deals in H1’24, says KPMG

Priority of innovation in finance in China likely to drive further investment HONG KONG SAR – Media OutReach Newswire – 23 August 2024 – Fintech investments in China made a modest recovery towards the end of 2023 and trickled over into 2024. Among the top ten fintech deals in ASPAC, five originated from Chinese Mainland and Chinese Hong Kong. Despite the regulatory hiccups in China, fintech is […]

Amit Shah’s Attack On Congress May Not Help BJP In J&K, Haryana

By Dr. Gyan Pathak India bloc’s political moves in Jammu and Kashmir have utterly upset the Union Minister of Home and BJP leader Amit Shah, especially the seat sharing announcement between the National Conference and the Congress, which prompted him to sharply attack Congress on the politically sensitive issue of unity of India asking 10 […]

Haier Cup Crowns 2024 Champions

The tournament attracted 1,000 Malaysian participants in four states (Kuching, Johor, Penang and Kuala Lumpur) Malaysian Grand Finals winners competed against counterparts from Indonesia, the Philippines, Thailand and Vietnam as a new addition to this year’s tournament Malaysian Paris 2024 Olympics badminton men’s doubles heroes Aaron Chia and Soh Wooi Yik made a special appearance as a bonus for participants KUALA LUMPUR, MALAYSIA – Media OutReach Newswire […]

SUSS and WiseNet Asia Launch Success Academy in Malaysia to Foster Entrepreneurship, Innovation & Regional Social Impact

The Academy will offer programmes with cross-cultural industry experiences to empower students and executives for success in the global business arena KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 23 August 2024 – The Singapore University of Social Sciences (SUSS) and WiseNet Asia, a talent solutions and consultant company, today launched the SUSS Success Academy in Kuala Lumpur, unlocking new learning and training opportunities for students in […]

Successful Completion of the Foundation Installation at the 640 MW Yunlin Offshore Wind Farm Project in Taiwan

All 80 foundations, including monopiles and transition pieces, successfully installed Final installation phase has begun Leading in localization and environmental responsibility HAMBURG, GERMANY – EQS Newswire – 23 August 2024 – Yunneng Wind Power Co., Ltd. (Yunneng), the company responsible for the construction and operation of the 640 MW Yunlin Offshore Wind Farm project (Yunlin OWF) project in Taiwan, has achieved another major milestone by successfully completing […]

Resorts World Cruises Expands with New Dubai Sailings

Resorts World Cruises is set to expand its footprint in the Middle East by launching a new series of cruise sailings from Dubai. This move marks a significant step in the company’s strategic growth plan, aiming to tap into the thriving cruise market in the region. The inaugural voyage is scheduled to begin in early October 2024, featuring a diverse range of itineraries designed to attract both […]

UAE’s EGA to Purchase US Aluminum Recycler Spectro Alloys

Emirates Global Aluminium (EGA) has announced its decision to acquire Spectro Alloys, a prominent US-based recycled aluminum company. This strategic move is set to enhance EGA’s recycling capabilities and support its sustainability goals by increasing the volume of recycled material in its production processes. The acquisition, valued at approximately $200 million, aligns with EGA’s broader strategy to integrate more sustainable practices into its operations. Spectro Alloys, known […]

PAI Partners and ADIA Enter Talks for Sanofi’s Consumer Health Business

Sanofi has initiated the process of selling its consumer health unit, with France’s PAI Partners and the Abu Dhabi Investment Authority (ADIA) emerging as key players in the bidding. The French pharmaceutical giant is exploring options to maximize value, which includes a potential sale or separate listing of the unit.

As part of this strategic move, Sanofi has set a mid-July deadline for first-round bids. Among the prospective buyers, private equity firm PAI Partners, in collaboration with ADIA, is considered a strong contender. Other potential bidders include industry heavyweights like Blackstone, Advent International, and Clayton Dubilier & Rice.

Sanofi’s consumer health business, known for popular over-the-counter brands, has garnered significant interest from global investors. The company is evaluating various separation scenarios with the aim of concluding the transaction by the end of 2024. This move aligns with Sanofi’s broader strategy to streamline its operations and focus on core pharmaceutical activities.

The involvement of ADIA signals growing interest from sovereign wealth funds in the pharmaceutical sector, reflecting the appeal of stable, cash-generating assets in the healthcare industry. As the bidding process unfolds, the collaboration between PAI Partners and ADIA is expected to play a crucial role in the outcome of this high-stakes deal.

Sanofi’s decision to potentially divest its consumer health unit underscores the ongoing trend among large pharmaceutical companies to reallocate resources and focus on more profitable segments like innovative drugs and biotechnology. The outcome of this sale could have significant implications for the global healthcare market, particularly in the consumer health sector.

UAE Banks Secure $14.7 Billion in New 3-Month Deposits

UAE-based banks have attracted $14.7 billion in new three-month deposits within the first five months of 2024, as revealed by the Central Bank of the UAE. This increase reflects an 8.9% growth in deposits, which rose from AED 604.99 billion at the end of December 2023 to AED 659.01 billion by May 2024. The substantial majority of these deposits, around 90.9%, were held by national banks. The trend underscores the growing trust and stability within the UAE banking sector.

Jobs In Urban India Declined In The First Quarter Of 2024-25

  By Dr. Gyan Pathak At a time when Budget 2024-25 is aiming at creating about 3 crore formal jobs, the Periodic Labour Force Survey (PLFS) for the first quarter of the current financial year shows a decline in the employment in urban India. Women workforce suffered even more than their male counterpart in all […]

Hong Kong Council of Social Service (HKCSS) Marks Its Debut at the 8th China (Guangzhou) International Elderly Health Industry Expo: Pioneering Gerontechnology and Unlocking Silver Economy Potential in the Greater Bay Area

HONG KONG SAR – Media OutReach Newswire – 23 August 2024 – The Hong Kong Council of Social Service (HKCSS) is pleased to announce its inaugural participation in the 8th China (Guangzhou) International Elderly Health Industry Expo (EldExpo) from August 23 to 25 at the Canton Fair Complex in Guangzhou. This strategic engagement underscores HKCSS’s commitment to addressing the challenge of ageing population and advancing elderly care […]

Warranty and Aftersales: The Unsung Heroes of EV Adoption

VinFast is counting on excellent warranty and aftersales support to dispel doubts about EV reliability and drive adoption. With a 10-year warranty on both vehicle and battery, the Vietnamese automaker is setting a new standard for consumer confidence in the electric vehicle market. HANOI, VIETNAM – Media OutReach Newswire – 23 August 2024 – The electric vehicle (EV) market is at a crossroads. While overall sales have […]

Southco Introduces New Latch For Panel Closures Requiring Basic Compression

HONG KONG SAR – Media OutReach Newswire – 23 August 2024 – 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 introduced a new line of compression latches that have been optimized to provide a simple and affordable solution for enclosure applications that require basic compression. The […]

Singapore Sun by Dale Chihuly Shines at One Holland Village

Illuminating a collection of seven artworks by renowned artists and eight public art benches by designers – offering shoppers and art enthusiasts a unique community-inspired artistic experience SINGAPORE – Media OutReach Newswire – 22 August 2024 – One Holland Village mall has unveiled its latest artwork, Singapore Sun by Dale Chihuly. Situated at the mall’s Village Green, the stunning artwork rounds up the carefully curated medley of […]

APAS “5G-enabled Autonomous People Mover Service in a Residential Park”

Private Housing Estate to Host Groundbreaking Field Test of Self-driving Right-Hand Drive Vehicle HONG KONG SAR – Media OutReach Newswire – 22 August 2024 – The Automotive Platforms and Application Systems R&D Centre (APAS) announced that “5G-enabled Autonomous People Mover Service in a Residential Park” pilot programme has officially launched following approximately two years of meticulous planning and technological research, like the collection of high-definition maps, artificial […]

Vinhomes: Elevating Vietnam’s real estate standards through innovation

HANOI, VIETNAM – Media OutReach Newswire – 22 August 2024 – Vinhomes has redefined urban living in Vietnam, creating exceptional residential spaces that seamlessly blend luxury, technology, and community. With a portfolio of 29 projects across eight provinces and cities, the company has set new standards for urban lifestyles in Vietnam. Building on its success and capitalizing on Vietnam’s economic growth, Vinhomes is now attracting foreign buyers […]

Aesthetic Trends for Modern Men in Dubai

Not long ago, cosmetic procedures were mostly associated with women. However, today, more men in Dubai are starting to see aesthetic treatments as a form of self-care, whether it’s smoothing out a few wrinkles or tackling stubborn fat. We’ll explore some of the newest, most popular aesthetic trends for modern men in Dubai that help them feel refreshed, confident, and in control of their image. The Rise […]

RIBAMBELLE brings a unique blend of warmth and hospitality to Dubai

Dubai’s newly-opened RIBAMBELLE restaurant offers a unique blend of warmth and hospitality. It is conceived as a unique place where every member of even the largest families can bask in comfort. The first Ribambelle outlet was opened in  2012, and has since spread across across three countries: Kazakhstan, Uzbekistan, and Russia, besides the UAE. Founder and CEO Yulia explains the thought behind the concept and her exciting […]

Uncertainty In Bangladesh: BNP, Army Differ On Election Timing

  By Nitya Chakraborty   More than seventeen days after the abdication of former Prime Minister of Bangladesh, Sheikh Hasina from power in Bangladesh on August 5 and taking political shelter in India, conflicting trends are visible in the functioning of the interim government headed by Dr. Muhammad Yunus, as also in the activities of […]

Stella’s First-Half Net Profit Surges 54% and Cash Balance Doubles

Board Approves Plan to Return US$180 million to Shareholders over Three Years in Addition to Normal Dividend Highlights: Shipment volume increased by 12.3%, led by Sports category Revenue increased by 7.5% to US$770.0 million Further enhanced customer portfolio Gross profit margin expanded by 2.7 percentage points to 25.8% Reported operating profit margin increased to 12.9% from 9.0% same period last year Adjusted net profit increased by 54.1% […]

DHL names last-mile mobility startup as sustainability challenge winner

Winner is TUX mobility, an innovative startup in solar-powered cargo vehicle DHL Fast Forward Challenge: Sustainable Solutions Asia Pacific edition is the fourth edition in the series and was recently held in Singapore Three innovators were shortlisted as finalists, who will work with DHL to provide expert support in implementing the technology in Asia Pacific SINGAPORE – Media OutReach Newswire – 22 August 2024 – DHL has […]

Doric Nimrod Air Two finalizes $200 million A380 sale to Emirates

Doric Nimrod Air Two Ltd (DNA2), a Guernsey-based aircraft leasing company, has announced the sale of its last five Airbus A380 aircraft to Emirates for approximately $200 million. The sale, set to occur between October and November 2024, marks the end of DNA2’s leasing operations, with plans for the company to liquidate afterward.

These aircraft, originally acquired in 2011, have been leased to Emirates for 12 years under a deal that contributed significantly to DNA2’s portfolio. The sale follows the earlier divestment of two other A380s in 2023, which fetched $76 million. After the sale of the final five aircraft, DNA2 intends to distribute the proceeds to its shareholders, with distributions expected by the first quarter of 2025.

Emirates remains one of the few airlines to continue investing in the A380, despite many carriers phasing out the superjumbo in favor of more fuel-efficient aircraft. This acquisition aligns with Emirates’ strategy to maintain a large A380 fleet, which is integral to its long-haul operations. The airline’s commitment to the A380 is underscored by its ongoing refurbishment programs, aimed at enhancing passenger experience on these flagship aircraft.

This transaction underscores the evolving dynamics in the aviation leasing market, particularly for the A380, which has seen declining demand amid the industry’s shift towards smaller, more economical aircraft. For DNA2, the sale represents the culmination of its business model, which was specifically built around the A380, marking a significant chapter in both the company’s history and that of the aircraft leasing market.

ZJLD Group Reported Robust Interim Results of RMB4.1 Billion Revenue for FY2024

Marking the Fourth Consecutive Year of Sustainable High-quality Growth Agile Channel Structure and Geographic Diversification Bolster Resilience Amid Industry Downturns HONG KONG SAR – Media OutReach Newswire – 21 August 2024 – The first baijiu company listed on the Hong Kong Stock Exchange and the second Chinese sauce-aroma baijiu stock being publicly listed, ZJLD Group Inc. (“ZJLD”, the “Group” or the “Company”, SEHK stock code: 06979. HK), […]

Toronto-Dominion’s U.S. Expansion Struggles to Deliver on Promises

Arabian Post Staff Toronto-Dominion Bank’s ambitious push into the U.S. market, which once held great promise for boosting its growth, is now casting a shadow over its financial performance. The failed $13.4 billion acquisition of First Horizon Corp., coupled with a money-laundering investigation into its American branches, has severely affected investor confidence. Despite occasional positive developments, TD’s stock has significantly underperformed compared to other major Canadian banks, […]