ByteDance is exploring a $20 billion offshore loan as the TikTok owner seeks fresh financial firepower for artificial intelligence infrastructure, in what would be the company’s largest global borrowing if completed. The Beijing-based technology group has opened preliminary discussions with banks on a facility that could run for three years, with an option to extend the maturity to as long as five years. The size, pricing and […]
Electronic Arts is pushing artificial intelligence deeper into its game development pipeline as senior executive Laura Miele said the technology is already helping its studios move faster and sharpen creative decisions by taking repetitive work out of production. Miele, president of EA Entertainment, Technology and Central Development, said AI tools had contributed to “a real rise of creativity” across the company’s teams by removing some of the […]
Arabian Post Staff -Dubai Ruggieri has formed a project-based collaboration with Dubai-based Novara Events Management to develop large-scale pyrotechnic and multimedia experiences for the Gulf events market, bringing together one of Europe’s oldest fireworks houses and a regional organiser targeting high-impact live productions. The agreement positions the 300-year-old French pyrotechnics specialist to deepen its presence in a market where festivals, national celebrations, destination launches, private events and […]
Bitcoin Suisse has secured a crypto-asset service provider licence in Liechtenstein, giving the Zug-based digital-asset group a regulated platform for expanding its services across selected European Economic Area markets as the region’s MiCAR regime reshapes competition among crypto firms. The licence, granted by the Liechtenstein Financial Market Authority to Bitcoin Suisse AG, allows the company to operate under the Markets in Crypto-Assets Regulation, the European framework designed […]
OpenAI has expanded its Daybreak cybersecurity programme with Patch the Planet, a new initiative aimed at helping open-source maintainers find, validate and fix software flaws before attackers can exploit them. The project, built with security research firm Trail of Bits and supported by HackerOne, Calif, researchers and maintainers, shifts the focus from simply discovering vulnerabilities to landing tested patches in widely used software. It comes as artificial […]
Bajaj Auto has disclosed a ransomware attack that affected its systems and those of its wholly owned technology subsidiary, Bajaj Auto Technology Limited, adding another listed manufacturer to the widening roster of companies forced to make cyber-risk disclosures to investors. The Pune-based two- and three-wheeler maker said the incident took place on 23 June at around 8am IST. Technical teams, senior management and external cybersecurity specialists responded […]
As one of the members of the Hong Kong Special Administrative Region (HKSAR) Government’s GoGlobal Task Force, HKPC provides enterprises with “Six Tactics to Go Global” through “The Cradle – Go Global Service Centre” (The Cradle), delivering comprehensive going-global services spanning smart manufacturing, international standards and testing services, as well as technology R&D and evaluation. HKPC actively empowers both Chinese Mainland and Hong Kong enterprises to expand into global markets. Simultaneously, HKPC is actively enabling European and international enterprises to access the Chinese Mainland market through Hong Kong, fully building a seamless, two-way bridge that highlights Hong Kong’s unique strategic advantage as an indispensable “two-way springboard”.
Mr Yonghai DU, Chief Innovation Officer of HKPC, attended the Hong Kong Seminar-cum-Networking Reception, themed “Building Resilient Tech Ecosystems: Powering the Next Wave of International Tech Leadership from Hong Kong,” organised by the HKTDC, engaging in in-depth exchanges with global industry leaders to advance Hong Kong’s position as an international I&T centre connected to the global innovation ecosystem.
Empowering Local I&T Enterprises to Seize Global Business Opportunities, Deepening Two-way Collaboration Between the Chinese Mainland and Europe
Mr Yonghai DU, Chief Innovation Officer of HKPC, said: “As one of the world’s leading technology events, VivaTech serves as an exceptional gateway for Hong Kong’s I&T enterprises to step onto the international stage. HKPC continues to lead the industry in participating in prestigious exhibitions at home and abroad, showcasing Hong Kong’s R&D strengths in full. Hong Kong’s unique advantage in integrating with the world allows it to provide high-quality strategic support that helps Chinese Mainland and Hong Kong enterprises to ‘go global’, while also serving as a key ‘two-way springboard’ that helps outstanding European and international enterprises entre the Chinese Mainland market through Hong Kong. HKPC will continue its unique position as a bridge, driving complementary strengths and fostering mutually beneficial collaboration across regions.”
He added that since its establishment, “The Cradle” has received more than 500 expressions of interest and has provided over 300 projects with go global services, including preliminary assessments, smart manufacturing technologies, testing and certification, as well as on-site visits. Drawing on HKPC’s extensive experience in leading enterprises to go global, HKPC will continue to empower more I&T enterprises successfully expand overseas and tap into global markets.
Top-tier and Diverse I&T Achievements Make Their Debut, Shining on the European Tech Stage
The four participating Hong Kong I&T enterprises showcased a range of cutting-edge technology fields to the European market at the “Hong Kong Tech Pavilion”, including Asgard Group Limited, specialising in smart energy and EV charging solutions; Laputa Eco-Construction Material Company Ltd, which develops sustainable construction technology, specialising in carbon capture and utilisation technologies; Oriental Materials Hong Kong Limited, which focuses on advanced manufacturing and manufacturing of semiconductor equipment; and Harmony SkyTech Limited, which specialises in the low-altitude economy and unmanned systems.
Representatives from all four I&T enterprises agreed that their participation helped them tap into cross-regional business opportunities, making a significant landmark for Hong Kong’s I&T sector, while HKPC’s “The Cradle” provided indispensable professional team support, helping them align precisely with international technical standards and localise their products, serving as a solid backing for their cross-regional expansion and rapid entry onto the international stage.
Hashtag: #HKPC
The issuer is solely responsible for the content of this announcement.
The Hong Kong Productivity Council (HKPC) is a statutory body established in 1967, dedicated to enhancing the productivity and competitiveness of Hong Kong enterprises through world-class applied R&D, innovative technology services, and integrated manufacturing solutions. As a market-oriented, international R&D organisation, HKPC leverages its deep expertise and extensive industry experience in key areas such as AI, advanced manufacturing, life and health technology, green technology and new energy to drive new industrialisation and support the growth of emerging and future industries.
HKPC focuses on addressing businesses challenges and industrial technology needs, promoting the full integration between technological and industrial innovation. Through technology transfer, product innovation, intellectual property protection and commercialisation of R&D outcomes, the Council fosters collaboration with the local business community as well as top global R&D institutions, delivering added value to industries and advancing the development of new productive forces. HKPC’s world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades, reinforcing Hong Kong’s role as an international innovation and technology centre and a smart city.
To help enterprises capitalise on Hong Kong’s strengths in international connectivity to expand into global markets, HKPC offers comprehensive overseas expansion services tailored to critical areas including product development, technology, manufacturing, and management, enabling businesses to successfully go global from Hong Kong.
HKPC is also committed to providing timely and practical support to SMEs and startups with timely and practical , assisting them in accessing Government funding programmes. Through its FutureSkills training initiatives, HKPC helps both industry and academia stay ahead in latest digital and STEM technologies, nurturing a future-ready talent pool for Hong Kong.
Electric Way has broken ground on a 125,000 sq ft expansion of its distribution centre at National Industries Park in Dubai, a move aimed at more than doubling its operating capacity as demand rises from construction, utilities, manufacturing and data centre projects across the region. The extension is designed to strengthen the company’s bulk order fulfilment, warehousing, kitting and supply chain operations for electrical products including cables, […]
Japan’s ITOCHU Corporation has taken a strategic stake in Abu Dhabi-based Sirius Aviation Capital Holdings, strengthening the emirate’s position as a base for aircraft investment at a time when airlines are extending the use of mid-life jets to offset delivery delays and capacity constraints. The transaction brings one of Japan’s largest trading and investment groups into the shareholder base of Sirius, an aviation investment manager headquartered in […]
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 […]
Arabian Post Staff -Dubai Passenger rail travel in the UAE will enter a new stage on 30 June 2026 when Etihad Rail begins an introductory operational phase between Abu Dhabi and Fujairah, reducing the journey to one hour and 45 minutes and opening the first public route on the country’s national passenger network. The service will start from Mohamed bin Zayed City Passenger Train Station in Abu […]
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
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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.
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