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By K Raveendran US President Donald Trump’s attempt to jawbone oil lower has run into the hard edge of market reality. At the start, the strategy appeared to work. When he signalled that peace talks with Iran were possible and suggested a diplomatic opening, crude quickly gave back a large share of its war premium. […]

The article Energy Markets See Through Shallow Peace Talk, Move On Their Own Terms appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

“Culinary Capital” Title Reaffirmed with Over 200 Restaurants Listed in Internationally Acclaimed Gourmet Guides

HONG KONG SAR – Media OutReach Newswire – 28 March 2026 – Following last year’s “The World’s 50 Best Bars” Award Ceremony in Hong Kong, the Hong Kong Tourism Board (HKTB) this year brought the “Asia’s 50 Best Restaurants 2026” Awards Ceremony to Hong Kong for the first time. The event today (25 March) brought together over 1,000 culinary industry representatives, renowned chefs and media worldwide. Top local Cantonese restaurant The Chairman and contemporary Cantonese restaurant Wing secured first and second places respectively on the Asia’s 50 Best Restaurants 2026 list, once again highlighting the leading position of Hong Kong’s dining scene in Asia.

HKTB Chairman Dr Peter Lam said: “We extend our sincere gratitude to the Asia’s 50 Best Restaurants team for selecting Hong Kong for the first time as the host city for the Awards Ceremony. This international award recognises the outstanding achievements of the culinary sector. I am very proud of Hong Kong’s remarkable accomplishments in this year’s Awards. Together with the ‘MICHELIN Guide Hong Kong Macau 2026’ and ‘The Black Pearl Restaurant Guide’, over 200 restaurants have been listed in these internationally acclaimed gourmet guides, reaffirming Hong Kong’s position as a “Culinary Capital” in Asia. We are delighted to welcome the esteemed Asian chefs and other culinary professionals attending the Awards Ceremony to Hong Kong, and we warmly invite everyone to explore the city’s unique and diverse gastronomic charm by following the master chefs’ curated recommendations featured in the citywide ‘Taste Hong Kong’ Gourmet Guide.”

Danny Yip, owner of The Chairman, said “Being named The Best Restaurant in Asia for the second time is a huge honour for our entire team, and to achieve it here in Hong Kong makes it even more meaningful. This recognition — as well as the strong results for the city on this year’s list — reflects the depth and diversity that define Hong Kong’s dining culture today. It’s a privilege to represent our city in this way and to continue sharing the traditions and stories that shape our cuisine.”

Hong Kong Leads Asia Culinary Landscape with Two Restaurants in the Top Three

Together with the previously announced extended list of Asia’s 50 Best Restaurants (51^th – 100^th), a total of ten Hong Kong restaurants were recommended in the Asian edition of the prestigious list. These include six restaurants in the top 50: while The Chairman and Wing topped the list at first and second spots, Neighborhood (No. 24), Estro (No. 32), Caprice (No. 35), and Mono (No.46) stayed strong on the list. Four other restaurants were also feature in the extended list, namely Ta Vie (No. 68), Vea (No. 70), Andō (No. 88), and Amber (No. 90). With this stellar performance, Hong Kong reaffirming its leading position in the regional culinary scene. The winning restaurants cover a diverse range of cuisines, demonstrating Hong Kong’s unique appeal as a melting pot of global flavours and a hub for star-rated dining establishments.

In the recently announced “Black Pearl Restaurant Guide”, the number of Hong Kong entries increased to 39, up from last year, including four first-time entries – Mosu Hong Kong, founded by three-Michelin-star South Korean chef Sung Anh; Jee, a Cantonese-French fusion restaurant; contemporary Indian restaurant Leela, and Cantonese fine-dining establishment Man Ho Chinese Restaurant. In addition, homegrown chef Vicky Cheng of Chinese-French restaurant VEA, and Terry Ho, Chef de Cuisine of French restaurant Amber, received the Master Chef Award and the Young Chef Award respectively in the Black Pearl Restaurant Guide, affirming the distinguished reputation of Hong Kong’s culinary talent in the Asian dining scene. In the “MICHELIN Guide Hong Kong Macau 2026”, more Hong Kong establishments were awarded MICHELIN stars than in the previous year, bringing a total to 77 Michelin-starred restaurants in one destination, further demonstrating the world-class standard of the city’s culinary scene.

Top Asian Chefs and Global Media Gather in Hong Kong to Experience the City’s Culinary

Capitalising on the opportunity presented by major culinary event being hosted in Hong Kong, HKTB arranged exchanges between leading Asian chefs and renowned local culinary talent, enabling them to experience the city’s diverse gastronomic offerings and produce promotional videos dedicated to “Taste Hong Kong”. In addition, HKTB leveraged its global network to invite media representatives from the Chinese Mainland, Taiwan, South Korea, Southeast Asia and other key markets to visit Hong Kong. In addition to attending the award ceremony for media coverage of the event, HKTB curated a series of immersive culinary experiences to fully showcase Hong Kong’s unique charm as a Culinary Capital.

Highlights of the itinerary included engaging with local master chef Vicky Cheng to gain firsthand insight into his exceptional culinary skills and cooking philosophy; participating in a dim sum workshop led by master chef Wong Lung-to, Executive Chef of Forum Restaurant, to learn how to make classic Cantonese dim sum such as siu mai (Cantonese pork dumplings) and har gow (shrimp dumplings); and joining an egg tart baking workshop. Media representatives were also invited to dine at several listed restaurants and visit emerging bars to experience Hong Kong’s diverse food and beverage culture in full. Through in-depth media coverage, the media trip will help promote Hong Kong’s distinctive culinary appeal to audiences worldwide, attracting more visitors to explore “Taste Hong Kong” and further consolidating the city’s status as a Culinary Capital.

11 Exclusive Collaborative Signature Sessions around the Awards Ceremony to Share Hong Kong’s Gastronomic Experiences

To encourage locals and visitors to immerse themselves in the vibrant atmosphere surrounding the award ceremony, HKTB partnered with the organiser for the first time this year to invite 40 internationally renowned and local award-winning restaurants to present 11 limitedtime collaborative Signature Sessions covering various global cuisines, bringing multiple tasting surprises to locals and visitors. The events attracted many locals and visitors, allowing everyone to experience the charm of global cuisines converging in Hong Kong at a single table.

Popular Variety Shows Drive Tourism and Encourage Visitors to Experience Hong Kong’s Diverse Culinary Delights through “Taste Hong Kong”

In line with the “Taste Hong Kong” Gourmet Guide launched in January, which covers all neighbourhoods across the city and features chef-recommended restaurants, HKTB has stepped up its promotional efforts in key source markets, such as the Chinese Mainland, Taiwan, New Zealand, South Korea and Southeast Asia. By collaborating with popular local food variety shows, HKTB showcased Hong Kong’s diverse dining culture to wider audiences, further enhancing international interest in Hong Kong’s culinary tourism.

In the Chinese Mainland, HKTB promoted culinary travel to Hong Kong through a Chinese New Year food programme on Shenzhen Satellite TV, with master chefs introducing restaurants recommended in the Guide and visiting specialty streets such as “Dried Seafood Street” and Shanghai Street, locally known as “Kitchenware Street”, to explore the charm of Hong Kong’s neighbourhoods. HKTB also partnered with New Zealand’s popular programme Seven Sharp, inviting media to visit Sham Shui Po to taste authentic local snacks, such as pineapple buns, milk tea, tofu pudding and dumplings, and to dine at a time-honoured Western restaurant to sample Swiss chicken wings and soufflé, showcasing Hong Kong’s diverse food culture. In addition, HKTB collaborated with Taiwan’s Super Taste, South Korea’s Boss in the Mirror, and multiple travel and food programmes in Thailand and the Philippines, featuring visits to recommended restaurants and exchanges with local master chefs. Through the broad influence of these variety shows, HKTB is actively showcasing the unique charm of “Taste Hong Kong”, attracting more visitors to embark on a culinary journey in Hong Kong.

Full results of Asia’s 50 Best Restaurants 2026: https://www.theworlds50best.com/asia/en/list/1–50
Hashtag: #HKTB

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

In 2026, Joining Hands with the Hong Kong Chinese Orchestra to Present Light and Shadow on Strings

HONG KONG SAR – Media OutReach Newswire – 27 March 2026 – Co-presented by the Hong Kong Arts Festival and The Hong Kong Jockey Club Charities Trust, “No Limits” 2026 will collaborate for the first time with Hong Kong Chinese Orchestra (HKCO) to jointly present Light and Shadow on Strings. The concert will be held on 28 March 2026 (Saturday) at 3pm at the Tsuen Wan Town Hall Auditorium. Featuring a 50-member HKCO ensemble alongside rising erhu star Yang Enhua, the performance brings together solo, chamber and orchestral works in a celebratory programme of Chinese music, showcasing the artistic synergy that emerges when musicians of diverse abilities share the same stage.

The concert is one of the major programmes of “No Limits” 2026 and marks HKCO’s inaugural participation in this inclusive festival, representing a significant step forward in advancing inclusive arts within Hong Kong’s mainstream cultural landscape.

Rupert Woo Pak-tuen, Associate Conductor of HKCO and Resident Conductor of the Hong Kong Young Chinese Orchestra, will lead the ensemble and Yang Enhua in a selection of orchestral works. These include the huqin quartet Ru-Meng-Ling, the five-piece combo Autumn Moon on a Placid Lake, and the string quintets Three Variations on Yangguan and A Joyful Evening. The programme also features Tam Yat-sing’s Eternal Night, which was named the Audience’s Favourite at HKCO’s 2023 Music from the Heart concert. Through diverse ensemble formations, the performance weaves a richly layered world of Chinese music, revealing both the delicacy and dynamism of Chinese music through refined musical dialogue.

Yang Enhua will perform three solo works: Dishui Nanyin Words of the Blind, recognised as part of Hong Kong’s Intangible Cultural Heritage; Sun Wenming’s renowned Farewell; and Hua Yanjun (Ah Bing)’s iconic Reflection of the Moon on the Water. Through nuanced expression and tonal depth, these works embody both the inheritance and innovation of traditional Chinese music, conveying resilience and dignity of spirit amid adversity.

The concert will also present the world premiere of Luminous Sound Journey, a newly commissioned work by cross-disciplinary composer Luk Wai-chun, commissioned by “No Limits” and HKCO. Inspired by the sensory experiences of visually impaired individuals in perceiving light and sound, the piece intertwines sonic and visual imagination, guiding audiences into a musical journey that transcends perception and expectation.

Co-produced by “No Limits” and HKCO, Light and Shadow on Strings marks an important milestone in the journey of inclusive arts towards the mainstream stage.

Eddy Zee, Project Director of “No Limits”, said: “Light and Shadow on Strings is an important embodiment of No Limits’ commitment to advancing inclusive arts into the mainstream. The collaboration between Hong Kong Chinese Orchestra and erhu soloist Yang Enhua demonstrates how the spirit of inclusion can be realised on the foundation of professional artistic excellence, revealing the distinctive creative energy that emerges when mainstream musicians and artists of diverse abilities come together.”

Dr Chin Man-wah, Executive Director of the Hong Kong Chinese Orchestra, said: “There are multiple perspectives when it comes to defining the success of a social care project; it is not just about the audience attendance rate, but more importantly about the cultivation of talent, the accumulation of experience, and the establishment of mindsets.”

Rupert Woo Pak-tuen, Associate Conductor of the Hong Kong Chinese Orchestra and Resident Conductor of the Hong Kong Young Chinese Orchestra said: “Light and Shadow on Strings reveals the rich layers of Chinese music, from the subtle intimacy of solo passages to the powerful resonance of ensemble works. Through this collaboration, we hope audiences can experience the music’s purity of tone, its striking contrasts, and the profound emotional intensity it carries. This programme serves to illustrate our vision of harmony in diversity and our unwavering commitment to inclusion.”

Yang Enhua said:”Music has always been my bridge to the world, leading me beyond the boundaries of visual impairment. Through this performance, I hope to show how sound carries emotion and imagination, and to embrace the diverse ways we all perceive the world. I truly value this collaboration with No Limits and Hong Kong Chinese Orchestra. Their professionalism and trust have allowed us to create and share the sincere power of music on equal ground.”

Light and Shadow on Strings is the closing programme of the eighth edition of No Limits. For details, please visit: www.nolimits.hk.

Hashtag: #NoLimits

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

About “No Limits”

Launched in 2019 and co-presented by the Hong Kong Arts Festival and The Hong Kong Jockey Club Charities Trust, “No Limits” offers barrier-free performances and events and explores and promotes inclusiveness and understanding through the arts.

Every year from February to March, “No Limits” showcases a series of fascinating programmes of music, dance, theatre and film by international and Hong Kong artists of different abilities. It also presents free film screenings as well as education and community programmes including an international symposium.

“No Limits” is committed to provide accessible in-venue performances and programmes for people with different abilities, highlighting creativity and talent in a variety of forms, spreading the message of inclusion to the society.

For more information about “No Limits”, please visit https://www.nolimits.hk.

About Hong Kong Chinese Orchestra

Founded in 1977, Hong Kong Chinese Orchestra is often invited to perform at famous venues and festivals all over the world, having covered Europe, North America, Asia, Australia and the Arctic Circle to date. It is therefore acclaimed as a leader among full-sized Chinese music ensembles in the international arena today. The Orchestra is set up in four sections: bowed-strings, plucked-strings, wind and percussion. The instruments include both the traditional and the improved, new versions: the bowed-string section has been using the Eco-Huqin series developed by the Orchestra since 2009. HKCO performs both traditional Chinese music and contemporary, full-length works in a variety of musical formats and contents. It also explores new frontiers in music through commissioning over 2,400 new works of various types and styles, whether as original compositions or arrangements.

About Yang Enhua

Yang Enhua began learning erhu at the age of 12, and has over fifteen years’ experience studying under Zhao Yijun, Gan Bolin, Li Aping, Peng Cheng, and Mao Qinghua of Hong Kong Chinese Orchestra. In 2022, Yang won the VSA International Young Soloists Competition and performed at the Kennedy Center, USA. In 2024, he performed in Seoul and ranked fourth in Korea’s first International Visually Impaired Solo Competition. In 2025, he won the Silver Award at the Singapore International Solo and Chamber Music Competition (Chinese Music category), and received a top ten award at the Danny Awards and the Special Grand Prize at the World Chinese Music Competition. Yang is committed to promoting musical inclusion, supporting employment for people with disabilities, and connecting communities through music. He is currently pursuing an undergraduate degree at the Hong Kong Academy for Performing Arts, supported by the Lee Hysan Scholarship.

About the Hong Kong Arts Festival

Launched in 1973, the Hong Kong Arts Festival is a major international arts festival committed to enriching the cultural life of the city. In February and March every year, the Festival presents leading local and international artists from all genres of the performing arts, giving equal importance to great traditions and contemporary creations. The Festival also commissions and produces work in theatre, music, chamber opera and contemporary dance by Hong Kong’s own creative talents and emerging artists, many of which have subsequently had successful runs in Hong Kong and overseas. Every year, the Festival also presents more than 250 “PLUS” and educational activities that offer diverse arts experiences to the community as well as tertiary, secondary and primary school students. In addition, through the “No Limits” project co-presented with The Hong Kong Jockey Club Charities Trust, the Festival strives to create an inclusive space for people of different abilities to share the joy of the arts together.

For more information about the Hong Kong Arts Festival, please visit https://www.hk.artsfestival.org/.

Revenue Achieved Over 40% Growth Y-o-Y

Highlights:

• Revenue increased by 41.3% to approximately HK$8,572.2 million.
• Gross profit increased by 37.6% to approximately HK$486.2 million.

Financial Highlights:

HONG KONG SAR – Media OutReach Newswire – 27 March 2026 – CR Construction Group Holdings Limited (“CR Construction” or the “Company”, together with its subsidiaries, the “Group”; stock code: 1582.HK), a building contractor in Hong Kong, announced its annual results for the year ended 31 December 2025 (“FY 2025”). During FY 2025, the revenue recorded by the Group amounted to approximately HK$8,572.2 million representing an increase of approximately 41.3% as compared to approximately HK$6,066.0 million for the year ended 31 December 2024 (“FY 2024”). Profit for the year of the Group during FY 2025 was approximately HK$42.2 million.

In FY 2025, gross profit of the Group was approximately HK$486.2 million, representing an increase of approximately 37.6% as compared to approximately HK$353.2 million for FY 2024. The Group’s gross profit margin was approximately 5.7% and 5.8% for the year ended 31 December 2025 and 2024, respectively. During the Reporting Period, earnings per share of the Group was approximately HK7.84 cents (FY 2024: HK10.74 cents).

BUSINESS REVIEW
Construction Operations
As at 31 December 2025, the Group had 50 projects on hand with an aggregate original contract sum of approximately HK$32.6 billion. During FY 2025, the Group had been awarded 15 new projects with an aggregate original contract sum of approximately HK$5.6 billion and had completed 17 projects with an aggregate original contract sum of approximately HK$6.1 billion.

Building Construction Works
In FY 2025, the revenue generated from the building construction works was HK$7,697.8 million, representing an increase of approximately 42.1% as compared to approximately HK$5,414.5 million for the FY 2024. The increase was mainly due to the increase in revenue generated from new projects and existing projects during the year.

During FY 2025, the gross profit of building construction works was approximately HK$334.6 million, representing an increase of approximately HK$96.5 million as compared to approximately HK$238.1 million for FY 2024. The gross profit margin decreased slightly to approximately 4.3% (2024: 4.4%).

Repair, Maintenance, Alteration and Addition (“RMAA”)
The revenue generated from the RMAA works increased by approximately 40.4% from approximately HK$512.0 million for FY 2024 to approximately HK$718.9 million for FY 2025.

The gross profit of RMAA works was approximately HK$93.3 million, representing an increase of approximately HK$22.4 million from the gross profit of approximately HK$70.9 million for FY 2024. The gross profit margin decreased to approximately 13.0% for FY 2025. The increase in gross profit and decrease in gross profit margin was mainly due to increase in revenue from RMAA work projects with lower gross profit margin in FY 2025.

Environmental Operations
As at 31 December 2025, the Group had 8 projects with an aggregate original contract sum of approximately HK$158.4 million and 28 projects relating to service concession arrangements and operation services.

During FY 2025, the Group demonstrated its capacity for market expansion by securing its first wastewater treatment construction contract outside of Zhejiang Province in Gaoping City, Shanxi. Furthermore, the Company strategically formed a joint venture with Tiantai Construction and the Group to pursue new opportunities in environmental services and sewage treatment, thereby enhancing its existing business.

The revenue generated from the environmental operations in FY 2025 was approximately HK$155.5 million, representing an increase of approximately 11.5% as compared to approximately HK$139.5 million for FY 2024.

In FY 2025, the gross profit was approximately HK$58.3 million, representing an increase of approximately HK$14.1 million as compared to approximately HK$44.2 million in FY 2024. The gross profit margin increased to approximately 37.5% in FY 2025. This is mainly due to increase in revenue from sewage and reclaimed water treatment services, which contributed higher gross profit margin during FY 2025.

CONTRACT COSTS
The Group’s contract costs primarily consisted of subcontracting costs, material costs, direct staff costs and site overheads. The contract costs of the Group in FY 2025 were approximately HK$8,086.0 million, representing an increase of 41.5% compared to approximately HK$5,712.8 million in FY 2024, which was in line with increase in revenue, and was mainly attributable to the increase in subcontracting costs, material costs, direct staff costs and site over heads for new and existing projects in FY 2025.

TECHNOLOGICAL INNOVATION
During FY 2025, the Group placed significant emphasis on technological innovation to enhance its core competitiveness in the construction industry. The total expenditure for research and development was approximately HK$23.3 million.

The Group continued to implement its enhanced Smart Site Safety System (4S), reinforcing our safety management framework and maintain our ISO 27001 certification. The Group has also integrated a range of digital solutions – including BIM, 4S, RPA, and the MaiaAI System – into project management and daily operation, significantly improving both efficiency and safety standards. The Group’s AI Tower Crane System received with 2025 CIC Construction Innovation Award – Local Award (Construction Safety 2^nd Prize).

PROSPECTS
Subsequent to 31 December 2025, the Group has been further awarded 3 new projects relating to 1 building construction works contracts with original contract sum of approximately HK$3,590 million; and 2 RMAA works contract with an aggregate original contract sum of approximately HK$9.3 million.

The proactive measures outlined in 2025 Policy Address to accelerate infrastructure and stimulate industry growth present a significantly positive outlook for the local construction sector.

The commitment to major projects such as the Northern Metropolis, the Hong Kong-Shenzhen Innovation and Technology Park, and new transportation infrastructure is expected to generate substantial momentum for the Group’s business.

The Group will actively support and leverage government initiatives. We will remain focused on securing new and profitable project opportunities. Building on our proven expertise, the Group is strategically positioned to explore and pursue suitable construction business ventures both in Hong Kong and overseas.
Hashtag: #CRConstruction #華營建築 #AnnualResults

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

CR Construction Group Holdings Limited

CR Construction Group Holdings Limited, which is carrying out construction business for over 55 years locally, is one of the leading building contractors in Hong Kong. The Group principally act as a main contractor in building construction works and RMAA works projects across public and private sectors in Hong Kong. As a main contractor, the Group is responsible for (i) overall management of the projects; (ii) formulating work programmes; (iii) engaging subcontractors and supervising their works; (iv) sourcing construction materials; (v) communication and coordination with the customers and their consultant teams; and (vi) safeguarding compliance with safety, environmental and other contractual requirements.

The meeting highlighted the role of LuLu Group International, which operates more than 280 hypermarkets across the Gulf Cooperation Council, in maintaining steady flows of essential commodities including rice, wheat, pulses, fruits and vegetables. Officials familiar with the interaction indicated that the discussion centred on logistics efficiency, pricing stability and the need to safeguard uninterrupted shipments during periods of geopolitical and climate-related uncertainty.

Yusuff Ali is understood to have outlined how the group has expanded sourcing networks and strengthened warehousing capacity to manage demand across markets such as United Arab Emirates, Saudi Arabia, Qatar, Oman and Kuwait. These countries rely significantly on imports to meet domestic consumption needs, making supply chain continuity a strategic concern for both governments and private sector operators.

India remains a major exporter of food products to the Gulf, with staples such as basmati and non-basmati rice forming a substantial share of shipments. Fresh produce, seafood and processed foods have also seen sustained demand as expatriate populations grow and consumption patterns diversify. Trade data over the past year has shown that food exports to GCC markets have held steady despite fluctuations in global commodity prices and shipping costs.

The discussion comes against a backdrop of tighter export controls imposed at various points to stabilise domestic food prices. Authorities have intermittently restricted shipments of certain grains, including rice varieties, prompting concerns among importing nations about supply reliability. Industry participants say large retailers with integrated supply chains, such as LuLu, have been better positioned to absorb shocks by diversifying sourcing and building buffer stocks.

Government officials have emphasised that export policies are calibrated to balance domestic needs with international commitments. During the interaction, Modi is said to have reiterated the importance of maintaining India’s reputation as a dependable supplier while ensuring affordability within the domestic market. The approach reflects a broader strategy of using trade diplomacy to reinforce economic ties with key regions.

LuLu Group’s operations have evolved beyond retail into food processing, logistics and distribution, enabling it to play a pivotal role in linking producers in India with consumers across the Gulf. The company sources directly from farms and cooperatives, reducing intermediaries and allowing for more competitive pricing. This model has gained traction as governments encourage greater efficiency in food supply chains.

Analysts note that Gulf countries have been investing in food security initiatives, including overseas farmland acquisitions, strategic reserves and partnerships with large distributors. Retailers such as LuLu have become central to these efforts, providing the infrastructure needed to manage large-scale imports and ensure consistent availability at the consumer level.

Yusuff Ali has previously highlighted the importance of long-term partnerships between exporters and retailers in stabilising supply. The group has expanded procurement centres across multiple states, enabling it to source a wide range of products while maintaining quality standards required by Gulf markets. Investments in cold chain logistics have also helped reduce wastage and improve delivery timelines.

The meeting also touched on opportunities to enhance bilateral trade flows through digitalisation and improved port connectivity. Industry experts argue that reducing transit times and streamlining customs procedures could further strengthen supply chains, particularly for perishable goods. With global shipping routes facing periodic disruptions, efficiency gains at origin and destination ports have become increasingly critical.

India’s engagement with the GCC has deepened across sectors, with food trade forming a key pillar of economic cooperation. The region accounts for a significant share of India’s agricultural exports, while remittances and energy imports reinforce the interdependence between the two sides. Strengthening food supply mechanisms is seen as part of a broader effort to secure mutual economic interests.

• Innomotics wins several orders to provide motor and drive technology for turbine replacement projects, totaling a volume in the higher double-digit million EUR range
• Environmental, operational and financial benefits for many industries and industrial applications
• Geographic diversity underlines market potential

NUREMBERG, GERMANY – Newsaktuell – 26 March 2026 – Innomotics, a globally leading supplier of electric motor and large drive systems, has won several major orders for turbine replacement projects on nearly every continent. The total volume for all orders is in the higher double-digit million EUR range.

With increased electrification of industrial applications, significant operational cost efficiency and CO₂ reduction can be gained by changing existing turbines with an electric drive system, the so-called Turbine Replacement Technology. This can be used for high-speed pump applications (centrifugal pumps) as well as for high-power compressor systems in refineries, petrochemicals, or oil and gas.

Especially the need for supplying large-scale turbine driven boiler feed pump applications in power plants with high voltage motors becomes increasingly important, as it significantly saves energy consumption, CO₂ and operational costs.

The transition to electric drive technology for rotating equipment is an important part of the overall plant electrification and decarbonization pathway, reducing the use of costly and environmentally harmful carbon fuels.

By sourcing the power from a renewable source such as wind, solar or hydro, CO₂ emissions can be practically eliminated. This is especially relevant for energy-intensive industries and industrial applications. Beyond ecological aspects, the use of high-speed motor systems offers significant benefits to customers, such as increasing efficiency, reducing operational costs and maintenance requirements as well as easy construction and start-up.

“Replacing existing gas and steam turbines with electrical motor and drive systems is a complex task. Thanks to our highly motivated and skilled team, Innomotics is thought leader and pace setter for turbine replacement technology for more than 25 years now and with more than 70 Turbine Replacement projects globally realized. Our outstanding portfolio sets standards: The reliability and availability of our advanced High-speed High Voltage Motor system technology is unrivaled in the field, due to our unique rotor design. Additionally, our Medium Voltage Drive technology includes extended redundancy measures such as cell by-pass systems for maximum uptime”, says Michael Reichle, CEO of Innomotics.

Operators of turbine-driven systems currently face high operational costs, which can be significantly reduced or even eliminated through turbine replacement technology. For example, in a project with Repsol in Spain, Innomotics helped avoid 68,000 tons of CO₂ emissions per year and reduce energy consumption by around 25 percent.

Recently awarded Turbine Replacement Projects

Electric Drive Upgrade for INA Refinery in Croatia:
INA is modernizing its refinery in Rijeka to improve efficiency and reduce emissions. As part of this transformation, steam turbines used to operate compressors are being replaced with electric drive systems. This reduces reliance on fossil fuels, lowers maintenance requirements, and increases overall energy efficiency.

To implement this upgrade within an operating refinery, INA partnered with Innomotics and Siemens Energy. The project includes four electric drive train systems, combining HV and HS-Modyn motors ranging from 1.8 MW to 6 MW with Innomotics Perfect Harmony GH180 variable frequency drives.

The solution ensures high reliability through redundant system design and enables fast installation on existing foundations with minimal construction effort. As a result, INA reduced significantly CO₂ emissions by 96,000 tons, reduced operating costs, total high-pressure steam production reduced by around 25%, and improved availability.

Turbine Replacement Technology for Repsol Industrial Complex in Spain:
Repsol has electrified a gas compressor at its Puertollano Industrial Complex by replacing a steam turbine with an electric motor solution from Innomotics. This upgrade improves energy efficiency by 25 percent and reduces CO₂ emissions by approximately 68,000 tons per year. The solution includes a High Voltage Motor combined with a Perfect Harmony GH180 Medium Voltage Drive, delivering 8.25 MW at 5,800 rpm. Designed for high reliability and continuous operation, the system enables maintenance intervals of up to five years. With this electrification project, Repsol strengthens its commitment to achieving net zero emissions by 2050 while significantly improving operational efficiency and system availability.

Turbine Replacement Technology for Chemicals Park in the Netherlands:
The owner and operator of a chemicals park in the Netherlands aims to accelerate the energy transition of the Dutch chemical industry. One of their three major goals is to achieve net zero emissions within ten years. Therefore, Innomotics was awarded for a turbine replacement project in a propylene plant. The order amounts a considerable value for Innomotics and includes a 25MW as well as an 8.6MW high-speed induction motor together with two Innomotics Medium Voltage GH150 drives. The order also includes comprehensive services.

Turbine Replacement Technology for Power Plants in Republic of Korea:
A Korean energy producer and provider awarded Innomotics an order to replace the previous turbine technology with a 12.5MW electric Innomotics High-speed High Voltage Motor and Medium Voltage Drives. With that replacement the company benefits from higher energy efficiency of at least 20 percent and the associated energy savings as well as reduced CO₂ emissions. The Innomotics solution therefore contributes directly to the customer’s net zero carbon strategy. The parallel operation of three Medium Voltage Drives ensures a particularly uninterrupted and stable power supply.

Turbine Replacement for a propane dehydrogenation (PDH) plant in Spain:
At the top of its agenda, a German chemicals and plastics giant, has placed the motto: “Net Zero Emissions by 2050”. One measure the company takes accordingly is replacing steam production at co-generation plants with heat pumps and e-driven compressors. Therefore, the Spanish site, has started a turbine replacement project in their propylene production at a propane dehydrogenation (PDH) plant. The order for Innomotics amounts to a double digit million Euros and includes a 23.3MW High-speed High Voltage induction motor, together with a Medium Voltage Drives and a converter transformer.

Turbine Replacement for Indian natural gas company:
Furthermore, Innomotics has won a pilot order to replace one out of eight installed gas turbines for a state-owned energy corporation in the state of Madhya Pradesh (India). This order creates a new benchmark in the gas turbine replacement market to the extent that the proposed solution will consist of an Innomotics High Voltage HV-M Motor, together with a gearbox and an Innomotics Medium Voltage Drive instead of a High-speed High Voltage Motor system.

Additional Turbine Replacement materials:
Whitepaper on Turbine Replacement
Expert Video concerning Turbine Replacement
Operational savings calculator, reference projects and success stories
Podcast episode on Spotify
Explore the 3D visualization in our virtual world: Innomotics Electrosphere

For more information, visit https://www.innomotics.com/hub/en/applications/turbine-replacement

Follow us on LinkedIn: www.linkedin.com/company/innomotics
For more information, visit www.innomotics.com.

Hashtag: #Innomotics

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

ManpowerGroup Greater China and Beacon Group Partner with FGA Trust and Payment Asia to Launch “Talent in HK” Program

HONG KONG SAR – Media OutReach Newswire – 25 March 2026 – ManpowerGroup Greater China Limited (Stock Code: 2180.HK), a leading global workforce solutions provider, and Beacon Group (parent company BExcellent Group Holdings Limited, listed on the Main Board of the HKEX, Stock Code: 1775.HK), a renowned Hong Kong educational institution, today announced the joint launch of the “Talent in HK” Youth and Family Life Service Security Program.

This forward-looking initiative is supported by Payment Asia, a leading payment platform in Hong Kong, providing streamlined payment channels. FGA Trust will serve as the third-party custodian. The program aims to establish an institutionalized, transparent, and collaborative ecosystem, providing end-to-end protection from education and academic support to life services and career consultancy, while injecting long-term momentum into Hong Kong’s strategy to attract and retain international talent.

As Hong Kong continues to attract top-tier students globally, many non-local students face challenges adapting to a new cultural environment upon arrival. Recently, there has been a rising trend in crimes targeting this demographic, including scams involving impersonation of government or academic institutions, as well as telecommunications and online fraud. These incidents pose substantial threats to talents’ personal and financial security, causing significant concern for their families.

In response to these social concerns and to reinforce the comprehensive security net for international students, ManpowerGroup, Beacon Group, and FGA Trust have initiated this program to provide stable, orderly support and ensure the long-term residency of talent in Hong Kong.

Holistic Talent Services: Strengthening Hong Kong’s Foundation as an International Hub

The “Talent in HK” program offers comprehensive life services for students and their families. Beacon Group will provide a long-term study plan spanning three to five years, including customized education, admissions services, profile enhancement, and application support. Simultaneously, ManpowerGroup will facilitate internships, visa arrangements, and long-term career development services.

Once a student receives an admission offer, parents can inject tuition and living expenses through Payment Asia’s official channels into a dedicated project account monitored by FGA Trust. This ensures financial security and the precise disbursement of funds. The entire process will be followed by an audit report, ensuring a smooth transition from campus to the workplace. The program’s website is expected to go live around mid-April this year, with official applications opening in May.

In an era of intensifying global competition for higher education and talent, Hong Kong remains a pivotal international financial and educational hub. Non-local students are not only a vital component of the education system but also a driving force for cross-cultural exchange and future professional talent. They are estimated to contribute over HK$10 billion in tuition fees annually, serving as a significant pillar of the local economy.

Multi-Party Collaboration: A New Paradigm for Talent Services

The core strength of the program lies in its innovative collaborative model, bringing together industry leaders:

• ManpowerGroup Greater China (2180.HK): As the exclusive career development partner of the project, ManpowerGroup will leverage its extensive network and expertise to provide career planning, internship matching, and employment guidance, bridging the gap between graduation and professional life, and help students to have a smooth transition from academies to careers.
• Beacon Group (parent company BExcellent Group Holdings Limited 1775.HK): As one of the initiators of the project with 37 years of experience in the education sector, Beacon Group will provide personalized academic consulting and profile enhancement, provide better guidance and adaptation for candidates to pursuit their study in Hong Kong. Its deep roots in the education sector help families navigate educational choices and avoid scams or unnecessary hurdles.
• FGA Trust (TCSP license: TC008341): As the structural architect and asset trustee, FGA Trust will establish a specialized trust framework with individual sub-accounts for each student. This ensures funds for tuition, housing, and living expenses are managed with clear traceability, mitigating risks of fraud or improper spending.
• Payment Asia: As the primary channel partner, Payment Asia provides secure and compliant collection channels, ensuring the seamless transfer of funds into the program’s dedicated accounts.

Long-Term Vision: Supporting Urban Competitiveness

Studying abroad is the starting point for talent development in Hong Kong. Proactive financial arrangements reduce uncertainty during status transitions and life settlement, increasing the willingness of talent to remain in the city long-term. Data suggests that initiatives like the Top Talent Pass Scheme (TTPS) continue to drive local consumption, with rents for small-to-medium residential units expected to rise by 5% this year.

Ms. Lancy Chui, Senior Vice President of ManpowerGroup Greater China, stated: “We understand the strong desire of non-local graduates to work in Hong Kong. By providing proactive career planning and internship arrangements, we can reduce uncertainty during their transition into the local workforce, helping them settle and contribute to Hong Kong’s market.”

Ms. June Leung, Founder of Beacon Group, noted: “Talent cultivation requires long-term education. We are delighted to initiate this program, integrating academic support with life security and career development to provide a comprehensive, forward-looking environment for talent growth.”

Ms. Helen Chen, Chief Strategy Officer of FGA Trust, added: “Protecting the financial security and well-being of international students is both a social responsibility and a key to consolidating Hong Kong’s status as an international education hub. This program ensures a seamless transition from study to employment, transforming international talent into a long-term driver for Hong Kong’s development.”

The launch of “Talent in HK” marks a significant step from fragmented support to a comprehensive ecosystem. Through institutional innovation and cross-sector collaboration, the program aims to provide a safe harbor for international students and their families, contributing to Hong Kong’s goal of becoming a global talent hub.
Hashtag: #FGA #Trust #Talent #Career

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FGA Trust

FGA Trust (TCSP License No. TC008341) is a premier trust and fiduciary services provider headquartered in Hong Kong, offering comprehensive wealth solutions to an international clientele. We specialize in trustee services, all-asset custody, and strategic financial planning. This core expertise is uniquely enhanced by our integrated lifestyle management, delivering a truly holistic approach to wealth preservation and growth.

Combining strong electronics manufacturing capabilities with biomedical engineering expertise, Taiwan has developed a dynamic MedTech ecosystem that continues to draw attention from global healthcare distributors, hospital procurement teams, and system integrators seeking scalable healthcare solutions.

Against this backdrop, Medical Taiwan 2026, organized by TAITRA, will take place June 25–27, 2026, at Taipei World Trade Center (TWTC) Exhibition Hall 1 in Taipei. The exhibition will bring together Taiwanese medical device manufacturers, healthcare technology innovators, and international buyers, offering a comprehensive platform for exploring new technologies and building cross-border partnerships.

Over the past decade, Taiwan has steadily strengthened its position in the global medical device industry. Its well-established electronics sector provides a strong technological foundation for developing advanced healthcare solutions that integrate hardware, software, and data-driven systems. Many Taiwanese companies are particularly known for integrating Information and Communication Technology (ICT) with healthcare applications, supporting the development of smart hospital infrastructure, AI-assisted diagnostics, and connected medical devices designed for modern clinical environments.

Organized by the Taiwan External Trade Development Council (TAITRA), Medical Taiwan 2026 will highlight several major trends shaping the healthcare industry, including digital transformation, aging populations, and the growing demand for efficient healthcare delivery systems. This year’s exhibition focuses on three key themes:

Visitors will be able to explore a wide range of technologies, including AI-assisted medical imaging, remote patient monitoring solutions, rehabilitation and assistive devices for aging populations, hospital information system integration, and medical components supported by Taiwan’s strong OEM/ODM manufacturing capabilities.

In addition to product showcases, the exhibition will facilitate business collaboration through One-on-One Procurement Meetings organized by TAITRA, allowing international buyers to connect directly with Taiwanese suppliers based on their sourcing needs.

Medical Taiwan 2026 offers the ideal platform to discover new products, explore procurement opportunities, and stay ahead of global healthcare trends. From June 25 to 27 at TWTC Exhibition Hall 1 in Taipei, the exhibition will bring together industry leaders and innovators shaping the future of healthcare. Register now to secure your spot to visit: (https://www.medicaltaiwan.com.tw/en/index.html)

Hashtag: #TAITRA

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

The purchase, attributed to cargoes loaded through intermediaries and structured channels, underscores a shifting pattern in global oil flows as refiners seek cost advantages amid volatile benchmarks. Market participants said the acquisition reflects both commercial pragmatism and a broader recalibration of sourcing strategies by large refiners navigating supply disruptions and pricing differentials.

Reliance, which operates one of the world’s largest refining complexes at Jamnagar, has historically processed Iranian crude due to its favourable refining characteristics and pricing structure. The latest move suggests the company is again exploring opportunities linked to Iranian grades, which are often discounted relative to comparable Middle Eastern benchmarks.

Iran’s oil exports have been subject to US sanctions since Washington withdrew from the nuclear agreement in 2018. Those restrictions significantly curtailed Tehran’s ability to sell crude openly, pushing exports into opaque channels involving ship-to-ship transfers, reflagging, and complex payment mechanisms. Despite these constraints, Iran has continued to move significant volumes to Asia, particularly to buyers willing to navigate compliance risks.

Industry analysts say the renewed interest in Iranian oil stems from tightening margins and evolving global supply dynamics. Production curbs by OPEC+ members, combined with geopolitical disruptions affecting Russian and Middle Eastern supplies, have altered trade routes and pricing structures. Refiners are increasingly prioritising flexibility, often sourcing from multiple regions to optimise margins.

Reliance’s procurement strategy has expanded notably over the past two years, with the company becoming a major buyer of discounted crude, including shipments linked to Russia following Western sanctions. The latest Iranian cargoes appear to align with this broader approach, where cost competitiveness outweighs traditional sourcing patterns.

Energy traders indicate that the cargoes in question were likely acquired through intermediaries rather than direct state-to-company contracts, a common practice in sanctioned markets. Such arrangements can involve layered ownership structures, making it difficult to trace the origin of the oil definitively. Payment mechanisms also tend to bypass conventional banking channels, relying on alternative currencies or barter-like systems.

Officials in Tehran have repeatedly stated that oil exports remain a central pillar of the country’s economic resilience, even under sanctions. Output has gradually recovered, with production estimates rising above 3 million barrels per day in recent months. Much of this increase has been driven by exports to Asia, where demand remains robust despite regulatory scrutiny.

Global oil prices have remained sensitive to geopolitical developments, with Brent crude fluctuating amid concerns over supply security and demand recovery in major economies. The availability of discounted barrels from sanctioned producers has created a parallel market that exerts downward pressure on certain price segments, benefiting refiners capable of accessing such supplies.

For Reliance, the ability to process a wide range of crude grades provides a strategic advantage. Its refining configuration allows it to handle heavier and more complex crudes, including those from Iran, Venezuela, and Russia. This flexibility enables the company to capitalise on arbitrage opportunities that may not be available to less sophisticated refiners.

Policy implications remain a key consideration. While there has been no formal indication of a shift in sanctions policy by Western governments, enforcement patterns have shown variability. Analysts note that enforcement intensity often fluctuates depending on broader diplomatic priorities, creating windows of opportunity for market participants.

New Delhi has maintained a delicate balance in its energy diplomacy, emphasising the need for affordable supplies while adhering to international frameworks. Purchases of crude from sanctioned producers have typically been structured to avoid direct violations, with companies relying on legal and compliance teams to manage exposure.

Shipping data and market intelligence suggest that Iranian crude continues to reach global markets through a network of vessels operating under flags of convenience. These ships often disable tracking systems or conduct transfers in international waters, complicating monitoring efforts.

Driving “Attract In” and “Go Global”, Accelerating Hong Kong’s Greentech Ecosystem Development

HONG KONG SAR – Media OutReach Newswire – 24 March 2026 – Hong Kong Science and Technology Parks Corporation (HKSTP) today hosted the “Green is Action: GreenTech Hub 1st Anniversary Showcase” at InnoCentre in Kowloon Tong, highlighting the achievements of Hong Kong’s leading hub for green innovation over the past year.

In its first year, GreenTech Hub expanded its partner network from 16 to 20 public-private organisations. By facilitating 360 business matching and hosting more than 100 greentech themed events, the GreenTech Hub is injecting new momentum into Hong Kong’s development as an international green technology and green finance centre.

The celebration ceremony for the 1st Anniversary Showcase was officiated by Professor Sun Dong, Secretary for Innovation, Technology and Industry, he said: “The anniversary of GreenTech Hub today is just the beginning. In collaboration with our three major I&T parks, the Government will continue to invest in I&T infrastructure and foster the development of strategic industries, with a view to enhancing the overall I&T ecosystem and promoting interactive development of the upstream, midstream and downstream sectors.”

Dr Sunny Chai, Chairman of HKSTP, remarked, “The first anniversary of GreenTech Hub proves that Hong Kong is where global green innovation converges and scales. We have attracted world-class R&D to the city while enabling homegrown greentech to be deployed worldwide for sustainable development. Through strategic partnerships, HKSTP is forging closer connections between research, industry, capital and real-world application scenarios, accelerating commercialisation and strengthening Hong Kong’s development into an international green technology and green finance hub.”

Leveraging Hong Kong’s Role as a Super-Connector to Bridge the Full Value Chain from R&D to Commercialisation

HKSTP announced the addition of four new partners to GreenTech Hub: CLP Holdings Limited, CTF Services Limited, Invest Hong Kong, and The Hong Kong and China Gas Company Limited, further strengthening Hong Kong’s green technology collaboration network. The GreenTech Hub brings together 20 partners spanning private enterprises, public bodies, universities, and industry associations. This collaborative ecosystem facilitates business opportunities, fosters knowledge exchange and best practices, and bridges financing gaps to expedite green technology development. Furthermore, leading local universities within the partner network offer talent training, testing facilities, and application scenarios for greentech solutions, speeding the journey from R&D to commercial impact.

HKSTP’s greentech ecosystem encompasses over 230 greentech companies, spanning new energy, green building, smart city solutions and green fintech. As the city’s leading collaborative platform for green innovation in the city, GreenTech Hub works closely with its partners to provide comprehensive support for park companies, fast-track the real-world application of green solutions, and further drive the synergistic development of green technology and green finance.

Global Expert Perspectives on Green Trends Alongside a Showcase of Breakthrough Technologies

The event featured a keynote address by Mr. Ethan N. Elkind, Director of the Climate Program at the Center for Law, Energy and the Environment (CLEE) at the University of California, Berkeley School of Law, who shared insights on global green development trends. Representatives from GreenTech Hub partners and park companies also shared their insights during two thematic panel sessions focusing on ecosystem collaboration and global expansion strategies.

To further elevate Hong Kong’s international profile and thought leadership in green technology, HKSTP plans to publish its first-ever research paper focusing on Hong Kong’s greentech ecosystem and energy storage technology in the fourth quarter of this year. GreenTech covers a broad range of areas, including new energy, energy storage and carbon trading, with battery and energy storage technology identified as one of our key focus areas. Given the strong growth potential of this sector, a dedicated research study would provide a more comprehensive review of the industry landscape and help identify the critical success factors needed to accelerate the commercialisation of battery and energy storage technologies.

As a two-way platform, GreenTech Hub has successfully attracted non-local greentech companies to establish a presence in Hong Kong while supporting local greentech ventures in expanding into international markets. Featured breakthrough technology solutions included:

Aurabeat — Award-winning energy-saving sonic air purification technology

Aurabeat has developed EcoSonic, a sonic air filtration technology combining AG+ silver-ion coating with sonic emitters, designed specifically for the commercial and industrial HVAC market. Its patented technology can reduce filter pressure drop by up to 70%, save up to 50% in energy, and improve indoor air quality. The solution has already been deployed in projects including the MTR, Hysan and Marina Bay Financial Centre in Singapore, demonstrating the strength of Hong Kong greentech in overseas markets.

Gotion High-tech — Globally leading new energy solutions

Gotion High-Tech is a world-leading provider of new energy batteries and green energy solutions. Its smart mobile energy storage charging unit, equipped with 209kWh large-capacity energy storage and 150kW high-power fast charging capability, supports a wide range of new energy transport and application scenarios, offering a breakthrough solution for EV charging infrastructure.

Harmony SkyTech — Drone systems, services and industrial application solutions

Harmony SkyTech showcased an electric vertical take-off and landing fixed-wing drone and related application solutions. These can be widely deployed in scenarios including power grid inspection, oil and gas pipeline inspection, surveying and mapping, logistics, and the transport of critical supplies, underscoring the immense potential of green low-altitude technologies.

Lihe Technology — Fully automated AI-powered water quality monitoring backed by national-level R&D

Lihe Technology specialises in environmental monitoring, water management and industrial automation. Its fully automated AI water quality monitoring system enables smart, highly efficient and precise monitoring. Through strategic collaboration with a GreenTech Hub partner, the company has established Hong Kong’s first branch of a National Engineering Research Centre of Advanced Technology and Equipment for Water Environmental Pollution Monitoring — Marine Eco-Tech Innovation Centre, driving the application and development of related technologies in Hong Kong.

One Energy — Electric motorcycles and the world’s first water-cooled fast-charging battery system

One Energy provides a one-stop e-mobility solution covering electric motorcycles, smart battery swapping stations and battery management systems. Its technology effectively shortens energy replenishment time, improves safety and enhances operational efficiency. The company has successfully expanded its footprint into Southeast Asia, Europe and Africa.

Hashtag: #HKSTP

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Hong Kong Science and Technology Parks Corporation

Hong Kong Science and Technology Parks Corporation (HKSTP), established in 2001, has built a thriving innovation and technology (I&T) ecosystem in Hong Kong, supporting 12 unicorns, nurturing over 16,000 research talents, and hosting more than 2,400 technology companies from 24 countries and regions specializing in biomedicine, AI and robotics, fintech, and smart city development. HKSTP is dedicated to positioning Hong Kong as an international I&T hub.

To align with Hong Kong’s future development, HKSTP is committed to attracting and cultivating I&T talent, accelerating the commercialization of innovative outcomes, and providing comprehensive support for technology companies and professionals on their innovation journey. Its vibrant I&T ecosystem continues to grow, encompassing Hong Kong Science Park in Pak Shek Kok, InnoCentre in Kowloon Tong, and three InnoParks in Tai Po, Yuen Long, and Tseung Kwan O. These facilities drive advancements in applied technology, focusing on industries such as advanced manufacturing, micro- electronics, and biotechnology, steering Hong Kong toward new industrialization.

Hong Kong Science Park Shenzhen Branch, located in Futian, Shenzhen, leverages the strategic advantage of “support of the Motherland, connecting to the world.” It serves as a bridge for “bringing in and going global,” actively fostering cross-border I&T collaboration. The Shenzhen Branch supports global technology companies and professionals by providing research and collaboration spaces, with a focus on enterprises in seven key sectors: Medtech, big data and AI, robotics, new materials, microelectronics, fintech, and sustainable development.

HKSTP is dedicated to advancing Hong Kong’s I&T development by providing research infrastructure, startup and enterprise support services, professional investment and business expertise, fostering partnership networks, and attracting top talent. These efforts drive innovation as a new engine for economic growth for Hong Kong. More information about HKSTP is available at www.hkstp.org.