Alibaba Group Holding has asked a US federal court to remove it from a Pentagon blacklist that identifies the e-commerce and cloud computing group as a company supporting China’s military, escalating a legal fight over Washington’s widening use of national security powers against large Chinese technology businesses. The case, filed in San Jose, California, challenges the Department of Defense’s decision to place Alibaba on its Section 1260H […]
In addition to geopolitical uncertainty, traditional risks for the shipping industry remain a major concern, although the numbers of total vessel losses and incidents have continued to decline in recent years. Machinery damage or failure and fires are among the main loss drivers in this regard, leading to significant economic and insured losses.
“Our analysis shows the shipping industry has made significant improvements in maritime safety in recent years. However, it has also undergone a fundamental transformation, from decades of relative stability, defined by steady trade flows and largely predictable operating conditions to becoming increasingly complex and volatile. The Middle East conflict and Strait of Hormuz closure is just the latest in a series of severe interruptions to hit shipowners and cargo operators. Resilience, geopolitics, and efficiency must be balanced in an increasingly unpredictable world, where the cost of uncertainty is reshaping the shipping industry,” explains Thomas Lillelund, CEO of Allianz Commercial.
Geopolitical uncertainty becomes top risk for shipping industry
The conflict in the Middle East paralyzed the Strait of Hormuz, a critical global oil trade route. Allianz Research data shows that around 1,150 cargo-carrying vessels (over 100GT*) with an estimated vessel and cargo value of approximately $125 billion, a volume of 29 million GT, and as many as 20,000 seafarers are in the Persian Gulf waiting to resume operations following recent diplomatic breakthroughs. This underscores the structural importance of maritime chokepoints and how critical they are for shipping and international trade, while also highlighting the severe disruptions to vessel operations and mental strain that has been placed on those seafarers who have endured months on board facing the threat of attack.
Marine insurance cover has been available throughout the conflict, albeit at increased hull and cargo premiums. However, the real issue for shipowners has been more about the risk to the crew and the vessel when transiting a conflict zone, rather than pure insurance considerations. Even if the US and Iran agreement holds and the Strait of Hormuz is reopened, solid assurances of safe passage will be required, involving the international community, particularly if traffic is to return to its pre-war levels, up to as many as 140 vessels a day.
“We are seeing growing uncertainty around shipping routes. Any type of event – a conflict, pandemic or a grounded vessel blocking a key port or shipping canal – can potentially cause a major disruption to shipping and supply chains. The events in the Middle East have been more impactful than many would have expected. The closure of the Strait of Hormuz sets a dangerous precedent and raises questions around the long-term future of this and other critical chokepoints. What is becoming clear is that we have to pay a price for uncertainty, shifting from ‘just-in-time’ to ‘just-in-case’ supply chains, and prioritizing resilience over cost efficiency,” says Captain Rahul Khanna, Global Head of Marine Risk Consulting at Allianz Commercial.
Total loss and incident numbers decline despite industry headwinds
The review’s latest analysis shows that there have been more than 900 total losses reported over the past decade (vessels over 100GT). Between 2016 and the end of 2020, there were 555, an average of 111 per year. This number declined to 350 between 2021 and the end of 2025, an average of 70 (37% down on the previous five-year period), reflecting the positive effect of an increased focus on safety measures over time – 43 total losses have been reported in 2025, with more than 30 of these vessels over 500GT. The South China, Indochina, Indonesia, and the Philippines region is the main loss hotspot globally over the past year, and the past decade (255). A huge volume of imports and exports flow through the region, resulting in high levels of shipping traffic, which is reflected in the number of incidents.
Around the world, the number of shipping incidents declined over the past year by around 16% (2,818 in 2025 compared to 3,353 in 2024). The East Mediterranean and Black Sea region saw the highest number (622), followed by the British Isles (619), which is also the location of the most incidents over the past decade. Machinery damage or failure was the major cause of shipping incidents globally, accounting for over half (1,505), followed by vessel collision (260). Fires on large vessels, including container ships and car carriers, remain a worry. There were more than 200 incidents on large vessels reported during 2025, down from 2024, but still the second highest total over the past decade, with at least nine total losses reported.
The increasing size of vessels is also driving a trend for a rise in general average claims, where the shipowner and cargo interests share losses or expenditure to save the whole venture in an emergency. Such claims are typically complex and large. Contributions to cover losses can be as high as 50% of the cargo value, which if a vessel is carrying a few thousand electric cars, for example, could easily be over US$100mn.
“Insurance markets react quickly to crises, but the real challenge for companies is understanding how risks are interconnected. That’s why resilience and risk management are becoming just as important as insurance coverage. The shipping industry is facing turbulent times, not only from geopolitical instability, but also from traditional hull and machinery risks, where we see claims costs continue to rise, as well as from decarbonization and fleet renewal challenges. Our role as an insurer is to support our clients as both a risk carrier and a resilience partner to mitigate risks before they become a damaging loss event,” says Justus Heinrich, Global Product Leader Marine Hull at Allianz Commercial.
Geopolitics and high demand drive trend for older vessels
The average age of the global fleet increased to 23 years in 2025, up from around 20 years old just before the Covid-19 pandemic, as shipowners retain vessels for longer due to the volatile geopolitical climate. Conflict in the Middle East has seen tankers and container ships stranded and rerouted around the Cape of Good Hope, for example, resulting in longer transit times and a squeeze on existing fleet capacity.
Older vessels pose significant safety risks at sea, with vessels over 20 years old accounting for over half of all safety incidents, analysis shows. As ships age, the likelihood of incidents increases due to structural, mechanical, and technological obsolescence, creating risks for crew, cargo, and the environment.
“Shipowners are under pressure to scrap older vessels and replace them with new, more efficient, safer and compliant ships. However, the recent pushback against net zero targets and full order books at the major Asian shipyards are other factors which could ensure the average age of vessels is likely to remain elevated in the near term,” says Captain Nitin Chopra, Senior Marine Risk Consultant, Allianz Commercial.
Hashtag: #Allianz
https://commercial.allianz.com/
The issuer is solely responsible for the content of this announcement.
Allianz Commercial is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks. Among our customers are the world’s largest consumer brands, financial institutions and industry players, the global aviation and shipping industry as well as family-owned and medium enterprises which are the backbone of the economy. We also cover unique risks such as offshore wind parks, infrastructure projects or film productions. Powered by the employees, financial strength, and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust us in providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2025, the integrated business of Allianz Commercial generated around €17.3 billion in gross premium globally. https://commercial.allianz.com/
Arabian Post Staff -Dubai Hafeet Rail has begun laying tracks on the planned UAE-Oman railway, moving the Gulf’s first cross-border rail link from heavy civil construction into a more visible phase of delivery as the two countries seek to deepen trade, tourism and logistics ties. The 238-kilometre railway, being developed by Hafeet Rail, will connect Sohar Port with Abu Dhabi through Al Ain and Al Buraimi, linking […]
In Singapore today, employability is no longer defined by academic achievement alone. Employers are looking for graduates who can apply knowledge in real workplace settings, work across cultures, adapt to new technologies and continue learning as industries evolve. This is especially relevant as Singapore’s labour market continues to move towards growth areas such as digitalisation, technology, sustainability, healthcare, business transformation and professional services.
Against this backdrop, Singapore Institute of Management Global Education, or SIM GE, continues to strengthen its role as a private education institution that prepares learners for the demands of today’s workplace and the opportunities of tomorrow’s economy.
Employability begins with industry relevance
For prospective students, one of the biggest considerations when choosing a higher education pathway is whether their studies will remain relevant by the time they graduate. This is particularly important in a job market where roles are changing quickly and where employers increasingly value both technical capability and transferable workplace skills.
SIM GE addresses this by offering a broad range of academic programmes through partnerships with reputable universities from Australia, Europe, the United Kingdom and the United States. These programmes span disciplines such as business, computing, social sciences, aviation, nursing and other applied fields, giving students access to international curricula while studying in Singapore.
This global education model is particularly relevant for Singapore’s open economy. Graduates entering the workforce are expected to understand local business realities while being able to operate in regional and international contexts. By learning from local and international faculty, and studying alongside peers from diverse backgrounds, SIM students are exposed to global perspectives that can support their workplace readiness.
Career support that connects learning to work
Employability also depends on how students translate classroom learning into career action. At SIM GE, career preparation is supported through Career Connect, which provides career workshops, career guidance, résumé reviews, mock interviews, profiling support, internship and job opportunities, as well as career events such as company visits, networking sessions, career talks and fairs.
This structured support is important because many students do not only need a qualification, they also need guidance in understanding industries, articulating their strengths, preparing for interviews and building professional networks. These practical areas can influence how confidently graduates enter the job market.
Through CareerSense, SIM students can also access an integrated online platform to browse and apply for internships, jobs and career events. This helps students take a more proactive approach to career planning while creating a clearer bridge between academic life and employment opportunities.
Real world exposure through internships and traineeships
One of the strongest contributors to graduate employability is exposure to work before graduation. Internships allow students to understand workplace expectations, test their skills in real business scenarios and build confidence before entering full time employment. SIM GE supports this through internships with a range of employers, from SMEs to multinational corporations. Its Work Integrated Learning for Life initiatives and internship related awards further encourage students to gain practical experience and develop holistically across cognitive, interpersonal and applied skills.
For fresh graduates, SIM’s Graduate Traineeship Programme provides structured traineeship opportunities across industries, typically lasting three to six months. The programme is designed to help graduates gain hands on experience, build workplace confidence and develop industry relevant capabilities as they transition into full time employment. This emphasis on work exposure responds directly to a key concern among prospective students, which is whether they will be ready for employment after graduation. By combining academic learning with career guidance, internships and traineeships, SIM GE helps students build not only credentials but also workplace familiarity.
The value of practical exposure is reflected in the experience of Keisha Shevila, a SIM-University of Wollongong Computer Science graduate who secured a Software Engineer role before completing her degree. In sharing her journey, she credited Career Connect with helping her better understand the job search process and preparing her “more confidently for entering the workforce”.
Building future ready graduates through skills and adaptability
The future of work is increasingly shaped by AI, automation, sustainability and cross functional collaboration. In this environment, students need more than role specific knowledge. They need adaptability, communication skills, critical thinking, creativity, cultural awareness and the confidence to keep learning.
SIM GE’s broader student experience supports this development. Beyond academic programmes, students can participate in more than 70 student clubs and co-curricular activities that build leadership, communication and teamwork skills. The EDGE Award, developed in partnership with employers, recognises students’ cumulative achievements across their learning journey and encourages a more holistic approach to personal and professional growth.
SIM GE’s diverse learning environment also plays an important role. With students from more than 50 nationalities, the campus experience provides opportunities for cultural exchange, collaboration and global awareness. These are qualities that are increasingly valuable in multinational and regional workplaces.
Aligning with Singapore’s skills first economy
Singapore’s workforce strategy continues to place strong emphasis on skills, lifelong learning and adaptability. National reports and government agencies have highlighted rising demand in areas linked to the digital, green and care economies, as well as the importance of AI literacy and transferable skills. This makes higher education choices more consequential. Prospective students are not simply choosing a programme. They are choosing a platform for long term career resilience.
SIM GE’s approach aligns with this direction by combining academic pathways, global university partnerships, employability support, industry exposure and continuous skills development. Its graduate outcomes also reflect this emphasis, with SIM reporting a secured employment rate of 81 per cent based on the Private Education Institution Graduate Employment Survey 2024/2025.
Preparing graduates for Singapore today and tomorrow
Employability in Singapore today is shaped by industry relevance, practical exposure and future ready skills. SIM GE’s proposition sits at the intersection of these priorities. For students, this means access to internationally recognised academic pathways, career services, internships, traineeships, employer engagement, student development opportunities and a diverse campus environment. For employers, it means a pool of graduates who have been encouraged to build both knowledge and workplace ready capabilities.
As prospective students consider their higher learning options, the question is no longer only what they can study. It is also how that education will prepare them for the future of work. For SIM GE graduates, the answer lies in an education experience designed not only to support academic achievement but also to develop employable, adaptable and globally minded individuals ready to contribute to Singapore’s evolving economy.
References
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 17,000 full- and part-time students and adult learners, of which approximately 41% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit www.sim.edu.sg
Uber Technologies’ directors and senior management have been sued by shareholders who allege the company failed to respond adequately to warnings about sexual abuse by drivers, opening a new governance front in the ride-hailing group’s long-running safety litigation. The derivative lawsuit, filed in federal court in San Francisco, accuses the board and executives of breaching their duties by allowing compliance lapses to persist despite internal and external […]
Dubai WoodShow 2026 opened with deals worth more than AED150 million, strengthening the exhibition’s role as a regional marketplace for timber, woodworking machinery, furniture inputs and advanced manufacturing technology. The three-day trade event, running from 22 to 24 June at Dubai World Trade Centre, has drawn more than 400 exhibitors from over 45 countries, with more than 600 international brands and five country pavilions. The opening-day transactions […]
Upscale AI has secured $190 million in fresh financing, lifting its valuation to $2 billion as investors intensify their hunt for companies solving the networking bottlenecks inside artificial intelligence data centres. The Santa Clara, California-based company said the Series A-1 extension brings its total funding to $500 million, less than a year after it emerged with a seed round of more than $100 million. The latest round […]
The launch ceremony was held in Almaty with the attendance of Mr. Nguyen Thanh Le, Appointed Ambassador of Viet Nam to Kazakhstan; Mr. Berikbol Shatabayevich Mandibayev, Head of the Department of Entrepreneurship and Investment of Almaty; along with representatives of the Government of Kazakhstan, the Embassy of Vietnam in Kazakhstan, and strategic partners, businesses and organizations across the transportation, energy, technology, finance, infrastructure and service sectors.
In its initial phase, Green SM will operate in Almaty with a fleet of VinFast VF 6 Eco vehicles, an all-electric SUV designed to meet the needs of everyday urban travel. Combining quiet operation, a comfortable cabin, and modern safety features, the VinFast VF 6 Eco is expected to provide residents and visitors in Almaty with a more convenient, reliable, and enjoyable mobility experience.
Alongside its electric vehicle fleet, Green SM continues to invest in the development of its Green Drivers through comprehensive training programs covering operations, safety, and customer service. This forms part of the company’s ongoing efforts to maintain consistent service standards and deliver safe and dependable transportation experiences for users in Kazakhstan.
To celebrate the launch, Green SM is offering a promotion of 26%, up to KZT 2,626 for customers booking rides through the Green SM application. Users in Kazakhstan can now access Green SM services via the Green SM app, available on both the App Store and Google Play.
In parallel with the service launch, Green SM has established partnerships with five strategic partners across the transportation, tourism, technology, and service sectors through the Green Alliance Frontier initiative. The initiative serves as a platform connecting organizations that share a commitment to sustainable development and creating positive impacts for local communities across multiple markets.
Mr. Nguyen Quoc Tuan, Global Chief Executive Officer of GSM, said: “Kazakhstan is a market with strong potential, dynamic growth, and rising expectations for modern services. We come to Kazakhstan with respect for the market, a long-term commitment to investment, and a desire to work alongside local partners in developing high-quality mobility solutions that meet the everyday needs of the community. At Green SM, we believe sustainable growth must be built on trust and meaningful value for society. That is the foundation we hope to build together with our customers, partners, and the people of Kazakhstan in the years ahead.”
Kazakhstan is experiencing the rapid development of modern urban centers alongside rising expectations for quality of life and better services. Green SM’s presence in Kazakhstan reflects the company’s long-term vision of bringing all-electric mobility solutions closer to users in more regions around the world. Green SM enters Kazakhstan with the aspiration of contributing to better mobility experiences for local communities: quieter journeys along busy city streets, more comfortable travel in everyday life, and greater reliability through service standards that are consistently maintained across every trip.
Founded in Vietnam in 2023, Green SM currently operates a green mobility ecosystem across Vietnam, Laos, Indonesia, the Philippines, India, and Kazakhstan. With an all-electric fleet, a technology-driven platform, and consistently applied operational standards, Green SM is steadily expanding its green mobility ecosystem across international markets, with the goal of providing modern, safe, and sustainable transportation solutions for communities around the world.
Hashtag: #GreenSM
The issuer is solely responsible for the content of this announcement.
Standard Chartered is exploring the sale of its wealth and retail banking business in Bahrain, extending a wider reshaping of its consumer operations as the London-headquartered lender concentrates capital on larger cross-border and affluent-client franchises. The review applies only to the bank’s wealth and retail banking operations in the kingdom. Its corporate and investment banking business in Bahrain will continue unchanged, preserving the group’s institutional presence in […]
XRP slipped towards the lower end of its three-week trading band as weak turnover, softer derivatives positioning and fading momentum left traders focused on the $1.05-$1.10 support zone as the market’s decisive near-term test. The token traded near $1.10 on Tuesday, down about 3 per cent over 24 hours and more than 10 per cent over the week, with its market value hovering around $68 billion to […]
SpaceX’s market value has fallen by more than $600 billion in three trading sessions, a reversal that has tested investor confidence in one of the year’s biggest public listings and drawn a sharp contrast with bitcoin’s steadier performance under the same market pressure. Shares of the Elon Musk-led space and technology group extended their decline after the company moved into the bond market for the first time […]
FastPass targets high-value sectors including advanced electronics, aerospace technology, precision machinery and automation systems, and recycled plastics.
By coordinating eight key government agencies—including Thailand’s Board of Investment (BOI), the Department of Industrial Works, the Customs Department, the Office of Natural Resources and Environmental Policy and Planning (ONEP), the Industrial Estate Authority of Thailand (IEAT), the Energy Regulatory Commission, the Metropolitan Electricity Authority, and the Provincial Electricity Authority—the initiative removes historical friction in permitting, environmental approvals, and infrastructure connectivity.
At the ceremony, the eight agencies formalized their coordination by signing a memorandum of understanding (MOU) committing to reduce approval and licensing timelines by 20 to 50 percent across key investment milestones, including factory permits, free-zone processing, environmental impact assessments, and power grid connections.
The ceremony drew more than 300 attendees, including foreign diplomats, international chambers of commerce, and multinational executives.
“In today’s global economy, speed is the ultimate competitive differentiator,” said Mr. Anutin Charnvirakul, Prime Minister of Thailand. “The Thai government is shifting from regulator to active business facilitator. By removing regulatory hurdles, increasing speed, and ensuring policy transparency, we are driving physical investments that will generate next-generation employment and secure Thailand’s long-term regional competitiveness.”
The push to turn approved projects into physical factories follows a historic surge in investment applications. BOI received a record USD 54.5 billion (approximately 1.8 trillion baht) in investment applications in 2025. Momentum has carried into 2026, with first-quarter applications already exceeding USD 30.3 billion (approximately 1 trillion baht).
The USD 21 billion total spans two FastPass cohorts. In the first phase, FastPass resolved regulatory bottlenecks for 76 previously approved projects valued at over USD 14.4 billion (approximately 474 billion baht). Today’s ceremony launched the second cohort: 25 projects from 23 companies worth USD 6.7 billion (approximately 223 billion baht), each receiving a formal Thailand FastPass certificate.
“We are focusing heavily on ‘realized investment’ entering the actual economy,” said Mr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance. “The FastPass mechanism is designed to deliver immediate, concrete economic results in the short term, while laying down long-term structural benefits that will distribute wealth across our broader economy. These 25 pilot projects from 23 companies are projected to generate over 13,000 high-skilled jobs. Combined with the 76 projects cleared under FastPass in the preceding phase, total investment mobilized by the program exceeds 700 billion baht.”
This mechanism converts corporate capital into domestic benefits across five key dimensions: driving investment-led GDP growth, generating high-skilled careers, transferring technical know-how, integrating local SMEs, and creating localized economic multipliers within regional communities.
“The FastPass program fundamentally changes how Thailand works with global investors,” said Mr. Narit Therdsteerasukdi, Secretary-General of the BOI. “We put eight agencies into one pipeline. Permit timelines that once stretched for months can now be cut by up to half. That gets factories built, creates high-skilled jobs, and pulls Thai suppliers into global supply chains.”
Global corporations participating in the FastPass program cited Thailand’s strategic location, modern infrastructure, robust supply chains, skilled workforce, and favorable investment policies as the key drivers for their expansion.
“Thailand possesses the talent, infrastructure, and policy support necessary for next-generation industries,” said Mr. Simon Gwozdz, CEO of Equatorial Space (Thailand) Co., Ltd., a developer of low-Earth orbit space launch vehicles. “The BOI’s one-stop coordination significantly reduces regulatory complexity.”
“The availability of raw materials, infrastructure, and proactive government support were critical in our decision to anchor our regional operations here,” said Mr. Donald Carpenter, CFO of U.S.-based PureCycle Technologies, Inc. “The FastPass mechanism directly improves our operational efficiency.”
“The speed of obtaining factory licenses under the scheme has accelerated our operational readiness, creating a smoother path to scale,” said Mr. Larry Foo of SAM Precision (Thailand), a Malaysia-based manufacturer of precision components for the semiconductor industry.
“The depth of Thailand’s electronics supply chain and supportive state policies were critical to our investment decision,” said Mr. Kris Leetavorn, Director of Advanced Connection Technology, a high-density printed circuit board (PCB) manufacturer. “The FastPass program drastically simplifies state coordination, allowing us to hit aggressive deployment timelines.”
To demonstrate Thailand’s readiness for advanced industries, the government showcased technologies currently being deployed or manufactured in Thailand, including humanoid robotics, LiDAR sensor systems, aerospace technology, and advanced electronics.
“Thailand FastPass proves what is possible when all agencies move in the same direction—approved investments actually get built,” Mr. Narit concluded. “The world is reshuffling supply chains. Investors need clarity and speed. Thailand is ready to deliver both. We will keep expanding FastPass to cover more permits and more strategic industries, creating quality jobs, strengthening supply chains, and raising Thailand’s long-term competitiveness.”
USD conversion based on a reference exchange rate of approximately 33 baht per USD (Bank of Thailand, June 2026).
Hashtag: #BIO #Thailand #FastPassProgram
The issuer is solely responsible for the content of this announcement.
Established in 1966, the Office of the Board of Investment (BOI) has continuously played an essential role for over 60 years in promoting value-adding investment for the country, from both foreign and Thai investors, to enhance national competitiveness and drive sustained economic growth and long-term national competitiveness.
Investment Services Center, PR Section, The Office of the Board of Investment (BOI)
555 Vibhavadi-Rangsit Road, Chatuchak Bangkok 10900 Tel. +66 (0) 2553 8111, Fax: +66 (0) 2553 8222
The SoftBank-backed company has been evaluating a US listing that could raise as much as $500 million and value the business at more than $3 billion, though the size, timing and venue of the offering remain subject to market conditions. A confidential filing would allow Carro to begin regulatory engagement without immediately disclosing detailed financial information to the public.
The move would test investor appetite for a profitable, asset-heavy digital commerce platform at a time when equity markets have become more selective about technology listings. Carro’s case is likely to be watched closely because it combines online vehicle transactions, financing, insurance, after-sales services and data-driven pricing across multiple Asia-Pacific markets.
Founded in 2015 by Aaron Tan, Aditya Lesmana and Kelvin Chng, Carro has grown from an online used-car platform into a broader automotive ecosystem. Its operations cover Singapore, Malaysia, Indonesia, Thailand, Japan, Taiwan and Hong Kong, with Australia also identified as an expansion market. The company uses artificial intelligence and proprietary data tools to inspect, price, finance and sell vehicles, a model designed to reduce friction in a fragmented second-hand car market.
Carro’s financial profile has strengthened ahead of the possible listing. The company posted FY2025 revenue of S$1.2 billion, gross profit of S$149 million and EBITDA of S$43 million, while total assets stood at S$1.3 billion. The results marked its fifth consecutive year of positive EBITDA, offering a contrast with earlier generations of venture-backed marketplaces that pursued scale while absorbing heavy operating losses.
The prospective IPO would come after a series of private funding rounds that brought in heavyweight investors. SoftBank Vision Fund 2 led a US$360 million Series C round in 2021, helping Carro reach unicorn status. Other backers include Temasek, GIC, EDBI, B Capital, Woori Venture Partners and Cool Japan Fund, which led a US$60 million strategic investment last year to support demand for Japanese vehicles across Asia-Pacific.
Carro’s listing plans also reflect a changing market for used cars in Southeast Asia. Rising new-vehicle prices, tighter household budgets, longer replacement cycles and growing acceptance of online purchases have supported demand for certified pre-owned vehicles. Digital platforms are trying to capture this shift by offering inspection guarantees, financing, insurance and warranty products that traditional dealers often provide unevenly.
The company’s expansion into financing is a central part of its investment story. Its fintech arm, Genie Financial Services, has built a loan book while keeping non-performing loans below 0.5 per cent in previously disclosed figures. That lending capability gives Carro an additional revenue stream, but it also exposes the company to credit risk, interest-rate movements and regulatory oversight across several markets.
A US IPO would place Carro in front of investors familiar with listed online auto retailers such as Carvana, whose turnaround has helped restore interest in the sector. Stronger US used-car platform earnings have improved sentiment, but investors remain cautious about businesses that carry inventory, require working capital and depend on financing conditions. Carro would need to show that its marketplace margins, ancillary services and regional scale can offset those pressures.
The offering would also be significant for Southeast Asia’s start-up ecosystem. A successful listing could become one of the largest US debuts by a company from the region since Sea’s 2017 flotation and may encourage other late-stage technology firms to revisit overseas listing plans. Traveloka, Carsome and Xendit have all been viewed as potential public-market candidates, though each faces different timing, valuation and profitability considerations.
For SoftBank, Carro’s progress would add to efforts to demonstrate exits from its later-stage technology portfolio after several years of volatile valuations. Public-market investors have become more disciplined in assessing growth companies, favouring businesses that can show durable margins, strong cash generation and clearer paths to profitability.
Carro’s final decision is not guaranteed. Market volatility, valuation expectations, disclosure requirements and investor demand could alter the timetable or push the company towards another private financing round before any listing. A confidential filing would mark an important step, but the formal IPO process would still depend on roadshow feedback, regulatory review and broader equity-market conditions.
Brussels is preparing to intensify its child-safety case against Meta Platforms, widening pressure on Facebook and Instagram over allegations that their design and recommendation systems keep children engaged in potentially harmful ways. The European Commission’s investigation is focused on whether Meta has done enough under the Digital Services Act to assess and reduce risks to minors, including so-called rabbit-hole effects, addictive design features and weak age controls. […]
Arabian Post Staff -Dubai Oman is weighing a ban on social media access for children under 16 as its telecoms regulator seeks public feedback on draft rules designed to tighten online safety, curb harmful exposure and define the duties of digital platforms. The Telecommunications Regulatory Authority has opened a consultation on the proposed framework, inviting parents, experts, educators, technology companies and the wider public to submit views […]
Abu Dhabi sovereign investor Mubadala is reviewing a potential commitment to a private equity project fund seeking to acquire control of MNC Solution, a listed South Korean defence components maker, in a deal that would deepen Gulf exposure to Seoul’s expanding weapons supply chain. The proposed investment would be made through a fund being assembled by Korea Investment & Securities Co. Partners Private Equity Division, which was […]
A short Reddit comment can push AI research agents towards fake products, fraudulent services and invented businesses, exposing a fresh weakness in systems that increasingly mediate consumer choices online. Cornell Tech researchers Tingwei Zhang, Harold Triedman and Vitaly Shmatikov found that a crafted snippet of about 13 words, planted in user-generated content, could manipulate deep-research systems that gather web material, synthesise it and present confident, citation-backed answers. […]
HONG KONG SAR – Media OutReach Newswire – 23 June 2026 – As the Hong Kong government’s various talent admission schemes continue to deepen, a significant wave of high-achieving elite families has settled in the city. Latest official data from the Labour and Welfare Bureau[1] reveals that more than 410,000 applications have been approved under these admission schemes over the past three years. Among the approved cases, the “Top Talent Pass Scheme” (TTPS), which targets high-income individuals or graduates of top-tier global universities, recorded over 120,000 successful applications. Notably, nearly 40% of approved applicants in Categories B and C graduated with bachelor’s degrees from top international universities, possessing strong, insightful mindsets and professional capabilities. This significant intake of highly educated “New Hong Kong” families has enriched the local talent pool while directly accelerating substantial demand for international education and curriculum transitions.
According to the Q2 market trends observation by For You Education, an esteemed tutoring and admissions consulting institution in Hong Kong, TTPS parents demonstrate highly strategic foresight in planning their children’s education. Most favor international schools or a “dual-track” pathway via Direct Subsidy Scheme (DSS) schools, triggering an exponential increase in consultation and registration volumes for international examinations such as IB, IGCSE, and A-Level. For You Education identifies three core reasons behind this phenomenon: first, parents view studying abroad as a critical pathway to cultivating a global worldview and expanding horizons; second, international curricula offer rigorous academic depth, allowing students to focus on their strengths and achieve higher academic merit; third, international examinations feature flexible pacing and allow retakes, granting students greater autonomy in their preparation.
Bridging the Dual Gap of “Language and Academic Depth”: Comprehensively Enhancing the Support System via “Private Candidate Programs”
When transitioning into the Hong Kong or international education systems, cross-border students often encounter two major hardships: the “language adaptation period” of moving from a Chinese-medium to an all-English teaching environment, and the “systemic differences” in curriculum breadth and depth between mainland and international examinations. Taking International A-Level (IAL) as an example, though it offers fewer subjects than the Mainland National Higher Education Entrance Examination (Gaokao), it requires deeper academic exploration and a higher degree of self-directed study within specific disciplines.
Traditional mainland education focuses heavily on intensive test-drilling, whereas international curricula (such as IB and IAL) emphasise critical thinking and research writing, such as IB’s Extended Essay. Unlike the high-stakes Gaokao, which allows students to take the exam only once, international tracks offer greater subject flexibility and an elevated margin for error. For instance, GCE A-Level allows students to choose three to four specific subjects based on their personal strengths for deep focus, while permitting modular retakes, resulting in significantly greater autonomy in preparation.
For You Education observes that many TTPS families discover that, after relocation, their local schools do not offer international curricula such as IB or IAL. Consequently, despite students’ willingness to sit, they lack institutional support and resources within their schools. To address this market gap, For You Education has carefully designed its “Private Candidate Programs” to fully support students registering for international public examinations as private candidates. Through comprehensive curriculum structuring and pre-exam coaching, the team helps students overcome institutional barriers and seamlessly transition to top global universities.
Official Opening of Fo Tan Campus: One-on-One and High-Efficiency Group Tutoring Aimed Directly at Return on Investment (ROI) in Education
To better serve newly arrived TTPS families, For You Education announced the official opening of its new branch campus in Fo Tan this quarter. The new campus features upgraded teaching facilities and a centralized team of core professional tutors. Most For You Education tutors possess prestigious international academic backgrounds and extensive cross-border teaching experience, equipping them with a nuanced understanding of the linguistic, psychological, and academic blind spots faced by mainland students transitioning to Hong Kong. Following a comprehensive service upgrade, the center offers an array of solutions encompassing Hong Kong international school admissions, IB tutoring, IGCSE curriculum, and A-Level subject selection.
In response to growing parental expectations regarding the Return on Investment (ROI) of international education, the new Fo Tan campus will prioritize personalized one-on-one and high-efficiency small-group teaching models. Practicing a modern philosophy of “individualized teaching,” the tutoring team assists students in precisely selecting subjects aligned with their personality traits and academic strengths (such as guiding suitable students to pivot from DSE to IAL tracks where they can better leverage their core academic capabilities). Over the past few years, the institution has successfully guided numerous cross-border and local students through their academic transition periods, securing placements at top global institutions across the UK, the US, and Hong Kong.
Cultivating Critical Thinking in the AI Era: “Learning Supplement” Rather Than “Replacement”
Global education frameworks are undergoing a paradigm shift, and the rise of AI technology has introduced parental anxiety regarding future academic majors and career landscapes. Addressing these concerns, Mr. Terry Lo, the Founder and Director of For You Education, stated:
“In the AI era, the core assessment metrics of international examinations like the IB program are shifting away from pure knowledge transmission toward ‘critical thinking’ and ‘knowledge application’. While consolidating our foundation in traditional academic tutoring, For You Education actively guides students on how to properly leverage advanced AI tools to assist their preparation and enhance learning efficiency. However, AI can never replace a tutor’s emotional care, the discovery of a student’s unique potential, or intellectual mentorship. We believe that learning to master AI tools to boost personal productivity is vital today, and we look forward to exploring this boundary alongside our students. We aim to utilize technological advantages to shorten students’ adaptation phases while maintaining close communication with parents who care about educational cost-effectiveness, ensuring children steadily build adaptability and competitiveness along their admissions journey.”
To assist parents in staying up to date with the latest trends in international education, the new Fo Tan campus of For You Education is now open for consultations. Parents are welcome to visit in person or browse online for successful case studies and academic consulting (admissions advice) assessment services, tailoring the optimal breakthrough path for their children’s inclusive education.
Hashtag: #foryoueducation #education #TTPS #internationaleducation
https://www.foryouedu.com.hk/
https://www.linkedin.com/company/for-you-education-limited/
https://www.facebook.com/ForYouEducationHK
https://www.instagram.com/foryoueduhk/
The issuer is solely responsible for the content of this announcement.
Founded in 2013, For You Education is a premier, highly experienced subject-specialist tutoring institution in Hong Kong. For years, the Center has championed an “efficient learning model” to deliver high-quality educational services to students from prestigious local and international schools across Hong Kong. Classes are conducted primarily through one-on-one and high-efficiency small-group formats to address the personalized learning needs of each student.
In addition to local school curriculum support, For You Education specializes in international examinations, including the International Baccalaureate (IB), International General Certificate of Secondary Education (IGCSE/GCSE), GCE A-Level, and SAT. It uniquely provides core academic guidance for Internal Assessments (IA), Extended Essays (EE), Theory of Knowledge (TOK), and Individual Oral Commentaries (IOC). For You Education currently operates three major campuses across Hong Kong: the Hong Kong Island Main Campus (Causeway Bay), the Kowloon Branch (Yau Ma Tei), and the newly completed Fo Tan Branch, establishing a comprehensive bridge to global educational excellence.
Official Website: https://www.foryouedu.com.hk
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DUBAI, UNITED ARAB EMIRATES – Media OutReach Newswire – 23 June 2026 – NAMAA, a real estate technology group that builds infrastructure to scale food delivery and production and a part of the wider ATOMS Group, has publicly introduced its Middle East food infrastructure portfolio. Since 2019, the company has quietly acquired and developed 150 facilities across the region, each designed to serve a distinct function within the food and beverage (F&B) ecosystem. With a clear sense of where the market is heading, NAMAA is now ready to share what has been built and where it is going next.
A Deliberate Approach to Foundation-Building
From the outset, NAMAA chose to focus its energy on fundamentals: understanding the regional landscape, forging meaningful partnerships, and putting physical infrastructure in place. That groundwork has since translated into a portfolio of facilities spanning Saudi Arabia, the UAE, Kuwait, and Bahrain. The portfolio currently comprises three core offerings:
Significant and Sustained Investment
In 2025, NAMAA deployed close to $100 million across the Middle East, directed entirely towards expanding its footprint, supporting existing operators, and responding to the sustained demand it continues to see across markets. That investment is not slowing.
Dubai, in particular, has become a focal point. In 2026, NAMAA plans to invest approximately $40 million into the emirate alone, a marked increase from the $28 million committed there in 2025. It is a market NAMAA has come to regard as one of the most dynamic in the region: fast-moving, receptive to new models in food and logistics, and broadly supportive of the kind of infrastructure-led approach the company brings.
A Region at an Inflexion Point
The Middle East’s food landscape is shifting. Consumer demand is rising, supply chains are being rethought, and resilience has become a genuine priority for operators and governments alike. Against that backdrop, NAMAA sees a clear and enduring role for dedicated infrastructure not as a complement to the broader ecosystem, but as its foundation.
For NAMAA, the region is not just a deployment target. It is a long-term commitment that is built around empowering operators, supporting businesses of all sizes, and ultimately serving the communities these food systems exist to feed.
Hashtag: #NAMAA
The issuer is solely responsible for the content of this announcement.
NAMAA is a leader in driving the growth of digital food solutions, quick commerce, and the underlying real estate foundations. The founding members have been laying the groundwork in the region since 2019, guided by a philosophy centred on developing infrastructures that give consumers fast and dependable access to meals, groceries, and essentials. Part of the wider ATOMS Group, the company has since grown into a multi-sector network with operations spanning the Middle East. Among its portfolio is KitchenPark, a commercial kitchen network providing CloudKitchens® facilities and CPUs across Saudi Arabia, the UAE, Kuwait, and Bahrain, as well as bespoke culinary infrastructure builds and quick-commerce-ready facilities.
The initiative formalises capabilities the Group has been building internally, combining data-led demand identification, integrated distribution, and execution across more than 17,000 O+O stores in Asia and Europe.
Over the past two years, AS Watson has introduced more than 4,800 new brands and brand extensions across its network, underscoring the scale of its brand development activity.
From Incubation to Execution
AS Watson brand lab departs from traditional incubator models by embedding brand development directly within AS Watson’s retail ecosystem.
Rather than incubating brands ahead of their market entry, the platform operates inside the market, using real-time customer data, shopping behaviour and category dynamics to inform development decisions.
Dr Malina Ngai, Group CEO of AS Watson, said the model reflects the company’s structural advantage. “We don’t wait for brands to find the market – we build them where demand already exists, and scale them through our ecosystem.”
A Systemised Growth Model
At the core of AS Watson brand lab is an integrated operating model linking insight, creation, distribution, demand activation and scaling.
The platform leverages AS Watson’s over 180 million loyalty members and O+O capabilities to accelerate brand selection and commercial execution.
A Structured Pathway to Scale
Brands within AS Watson brand lab are supported through a structured growth pathway, progressing from early-stage validation to regional scaling and category leadership.
At each stage, brands receive differentiated support across insight, distribution, marketing activation and investment, ensuring resources are focused where the greatest growth potential exists.
This staged approach enables AS Watson to systematically build, scale and prioritise brands, improving success rates while maintaining disciplined capital allocation.
Focus on High-Growth Segments
AS Watson brand lab will prioritise product segments including Asian beauty trends (K-beauty, J-beauty, C-beauty), ingredient-led skincare, health and wellness products and elevated personal care – areas where consumer demand continues to evolve rapidly.
The Group expects the platform to strengthen its ability to build proprietary and exclusive brands while improving speed-to-market and capital efficiency.
Proven Brand Scaling in Action
Early outcomes demonstrate how AS Watson brand lab translates insight into accelerated growth – not only by shaping brand development, but by scaling brands rapidly across markets through its integrated O+O ecosystem.
Across multiple categories and geographies, the platform has enabled brands to move from targeted market entry to multi-market expansion with speed and discipline:
COSRX (K-Beauty)– By combining COSRX’s innovation-led skincare expertise with
AS Watson’s extensive retail footprint and deep consumer insights, the partnership has accelerated international expansion and broadened consumer reach. This illustrates how the platform converts strong brand propositions into sustained category growth across markets.
&honey (J-Beauty) – Leveraging its distinctive product positioning alongside
AS Watson’s regional scale, &honey rapidly expanded beyond its home market, rolling out across multiple Asian markets within a short timeframe. This demonstrates the platform’s ability to systematically scale proven domestic leaders into regional brands.
e.l.f. Cosmetics (US) – Through partnership with AS Watson, e.l.f. has extended its community-led, value-driven model across Europe, translating strong brand engagement into measurable market penetration. The example highlights how consumer-centric brands can be amplified through local market execution at scale.
essence (Germany) – The expansion of essence across multiple markets, including exclusive partnerships, reflects how purpose-driven brands can achieve consistency and reach when supported by integrated distribution and retail insight. This underscores the platform’s ability to build sustained brand relevance and loyalty across diverse markets.
Across these examples, brands have scaled through a consistent model – combining data-led selection, integrated distribution, and coordinated market execution – demonstrating how AS Watson brand lab functions as a repeatable engine for brand growth, from market entry through to regional scale.
Scaling a Repeatable Engine
AS Watson brand lab positions AS Watson to leverage its retail footprint not only as a distribution channel, but as an engine for brand creation and scaling.
The initiative signals a shift from opportunistic brand sourcing towards a structured, repeatable growth model, reinforcing AS Watson’s ability to scale brands with speed, discipline and consistency while driving long-term portfolio value.
AS Watson continues to engage with selected brand partners and emerging brands aligned with its focus areas, with further information available through its official
AS Watson brand lab platform (https://www.aswatson.com/asw-brand-lab)
Hashtag: #ASWatson
The issuer is solely responsible for the content of this announcement.
Established in 1841, AS Watson Group is one of the world’s longest-standing and most recognised retail companies with roots in Asia. Today, the company operates over 17,000 stores across 12 retail brands in 31 markets, employing 130,000 people globally. This makes AS Watson Group the largest international health and beauty retailer in the world.
In the fiscal year 2025, AS Watson Group reported revenue of over US$26 billion. The company’s technology-enabled O+O (Offline plus Online) platforms serve over 6 billion shoppers annually, seamlessly integrating physical and digital retail experiences.
AS Watson Group supported over 180 charitable and non-profit organisations every year, dedicating over 40,000 hours of volunteer work to serve over 370,000 people in need in our operating markets.
AS Watson Group is also a member of the world-renowned multinational conglomerate CK Hutchison Holdings Limited, which has four core businesses – ports and related services, retail, infrastructure and telecommunications in over 50 countries.
Please visit www.aswatson.com/our-company/o-and-o-strategy/ for more information.
