Netskope has unveiled a new data centre in Malaysia, sharpening its expansion across Southeast Asia as governments and enterprises tighten rules on data residency and demand greater control over cloud security. The move places the US-based cybersecurity firm closer to customers in regulated industries that are accelerating cloud adoption while seeking assurances on where sensitive information is processed and stored.
The Malaysia facility, located to serve customers across the country and neighbouring markets, extends Netskope’s NewEdge network, the company’s global security infrastructure that underpins its secure access service edge offerings. By processing traffic locally, the firm says it can reduce latency, improve performance for cloud applications, and help organisations meet domestic compliance obligations without fragmenting their security architecture.
This expansion reflects a broader shift in Southeast Asia, where data protection regimes have become more explicit and enforcement has intensified. Malaysia’s Personal Data Protection Act, alongside sector-specific requirements for finance, healthcare and telecommunications, has pushed multinational firms to re-evaluate cross-border data flows. Similar pressures are evident in Singapore, Indonesia and Thailand, creating demand for security platforms that combine global reach with local presence.
Netskope’s regional strategy has focused on building infrastructure rather than relying solely on partner facilities. The Malaysia data centre complements existing points of presence across Asia Pacific and is designed to support services such as cloud access security brokerage, secure web gateways and zero trust network access. Company executives have said that proximity is increasingly critical as enterprises migrate mission-critical workloads to software-as-a-service platforms and public clouds.
Industry analysts note that the competitive landscape in cloud security has intensified as vendors race to offer compliant, low-latency services. Global rivals including Zscaler, Palo Alto Networks and Cisco have all invested in regional infrastructure to address sovereignty concerns. What differentiates players, analysts argue, is the ability to deliver consistent policy enforcement across geographies while adapting to local legal frameworks.
Malaysia has emerged as an attractive hub for such investments due to its growing digital economy, improving connectivity and government incentives aimed at data centre development. The country has positioned itself as a neutral base for regional operations, with policymakers encouraging foreign technology firms to establish infrastructure that supports domestic innovation and cross-border trade.
For enterprises, the presence of a local Netskope facility may ease long-standing concerns about routing traffic through distant jurisdictions. Financial institutions, in particular, have faced scrutiny over outsourcing arrangements and third-party risk management. Local processing can simplify audits and reporting while maintaining alignment with global security standards.
The expansion also speaks to changing threat dynamics. Cyber risk in Southeast Asia has risen alongside digitalisation, with ransomware, phishing and cloud misconfigurations posing persistent challenges. Security teams are under pressure to gain visibility across hybrid environments that span on-premise systems, multiple cloud providers and a distributed workforce. Vendors that can aggregate telemetry and enforce zero-trust principles close to the user are gaining traction.
Netskope has invested heavily in research and development to support this approach, including machine learning models that analyse cloud usage patterns and detect anomalous behaviour. The Malaysia data centre will feed into these capabilities, enabling faster inspection and response times for regional customers.
Beyond compliance and security, performance considerations are becoming a board-level issue. Latency can directly affect user productivity and customer experience, particularly for real-time collaboration tools and data-intensive applications. By shortening network paths, local infrastructure can deliver measurable gains, strengthening the business case for in-country deployments.
The move is expected to bolster Netskope’s channel ecosystem in Southeast Asia, where managed security service providers and systems integrators play a central role in enterprise adoption. Local infrastructure allows partners to offer services tailored to national requirements while leveraging a globally recognised platform.
Ras Al Khaimah has faced one of the most intense rainfall episodes in its recorded history, with official gauges measuring up to 127 millimetres across two days as a powerful storm system swept the northern emirates. The deluge exceeded the emirate’s typical annual average, overwhelming drainage networks and triggering flash flooding in low-lying and mountainous areas.
Authorities said the heaviest downpours were concentrated around Mina Saqr, Jebel Al Rahibah and the upper reaches of Jebel Jais, where steep terrain funnelled runoff into wadis and access roads. Several residential districts reported water entering homes and ground floors, while industrial zones near the coast saw yards and warehouses inundated. Emergency crews were deployed through the night to clear debris, pump water and assist stranded motorists.
Meteorological data show that the system delivered short bursts of exceptionally intense rainfall, a pattern that hydrologists say increases flood risk even where total volumes might otherwise be manageable. In the mountains, rainfall totals were uneven but locally extreme, with gauges registering more than a year’s worth of rain over 48 hours. The combination of saturated ground and rapid runoff led to temporary road closures and landslides on feeder routes to higher elevations.
Officials from civil defence and municipal services said no fatalities had been reported, though injuries were treated at local hospitals and several families were temporarily relocated as a precaution. Schools in affected zones shifted to remote learning for a day while assessments were carried out. Power and water supplies were largely maintained, though brief outages were recorded in pockets where substations were flooded.
The storm formed as moist air from the Arabian Sea collided with a slow-moving upper-level trough, creating prolonged convective activity over the UAE’s north. Weather specialists noted that while heavy rain events are not unprecedented, the persistence and concentration over Ras Al Khaimah set this episode apart. Satellite imagery showed successive storm cells tracking along the same corridor, repeatedly dumping rain over the same catchments.
Urban planners and climate scientists say the episode underlines growing exposure to extreme weather in arid regions. Studies of the Gulf’s climate indicate a tendency towards more erratic rainfall, with longer dry spells punctuated by intense storms. Such shifts challenge infrastructure designed around historical averages, particularly drainage systems sized for shorter, lighter showers.
Ras Al Khaimah’s leadership said post-storm reviews would examine drainage capacity, early-warning protocols and land-use planning in flood-prone areas. Investment in wadis management and retention basins has increased in recent years, but officials acknowledged that rapid development and changing rainfall patterns require constant reassessment. Work crews were already clearing silt from channels and inspecting culverts to restore full flow capacity.
Residents described scenes of fast-moving water sweeping through streets and wadis within minutes of the heaviest rain. In mountain communities, drivers abandoned vehicles as torrents crossed roads, while hikers on Jebel Jais were escorted to safety by rescue teams once conditions allowed. Authorities reiterated advisories against entering wadis during storms, warning that flows can rise without notice far downstream from where rain is falling.
Insurance providers said claims assessments were under way, with early indications pointing to damage to vehicles, ground-floor properties and small businesses. Analysts noted that insurance penetration for flood damage remains uneven, leaving some households reliant on emergency assistance and community support. Local charities and volunteer groups organised relief supplies, including pumps and cleaning equipment, to help affected families return to their homes.
The episode has also prompted renewed discussion about data sharing and public communication. Meteorologists said advances in radar and nowcasting allow for more precise warnings, but effective response depends on rapid dissemination and public trust. Authorities credited social media alerts and mobile notifications with reducing exposure, though they acknowledged that compliance varies, particularly among motorists accustomed to short-lived showers.
Bitcoin’s slide below the closely watched $86,000 threshold has unsettled digital-asset markets, breaking a price floor that traders had treated as a key line of defence since the sharp sell-off in October. The move has triggered renewed volatility across major tokens and prompted a reassessment of risk as investors weigh whether the decline reflects temporary dislocation or a deeper shift in market structure. The breach occurred amid […]
Saudi Arabia is preparing to lift crude oil shipments at the start of 2026, a move that underscores mounting concerns about excess supply as global demand growth remains uneven. Allocations to buyers across Asia, Europe and North America are set to rise, according to trade and shipping data reviewed by market participants, pointing to a more assertive sales posture by the world’s largest exporter after months of […]
Ministry of Finance has announced Cabinet Decision No. 153 of 2025, setting out the application of the reverse charge mechanism on the trading of metal scrap between VAT-registered businesses in the UAE, with the framework scheduled to take effect on 14 January 2026. The move is positioned as a targeted adjustment to the country’s value-added tax regime, aimed at strengthening compliance and reducing tax leakage in a sector long regarded by authorities as vulnerable to misreporting and cash-based transactions.
The decision has been issued under the provisions of Federal Decree Law No. 8 of 2017 on Value Added Tax, along with its subsequent amendments, and Cabinet Resolution No. 52 of 2017 covering the Executive Regulations of the VAT law. Together, these instruments provide the legal basis for shifting VAT liability from the supplier to the recipient in specified transactions, a mechanism already familiar to many businesses operating in regulated or high-risk supply chains.
Under the reverse charge mechanism, the obligation to account for VAT on a transaction moves from the seller to the buyer, provided both parties are registered for VAT. In the context of metal scrap trading, this means suppliers will issue tax invoices without charging VAT, while purchasers will self-account for the tax in their VAT returns, subject to the normal rules on input tax recovery. Officials say the approach is designed to curb evasion practices that can arise where VAT is charged but not remitted to the tax authority.
The Ministry of Finance has framed the decision as part of a broader effort to fine-tune the VAT system since its introduction in 2018, responding to sector-specific risks identified through audits and market monitoring. Metal scrap trading, which often involves multiple intermediaries and fluctuating commodity prices, has been highlighted in several jurisdictions worldwide as an area where reverse charge measures can enhance transparency and simplify enforcement.
The cabinet decision on scrap VAT treatment reflects a policy choice already adopted in parts of Europe and Asia, where tax authorities have used reverse charge rules to counter carousel fraud and other forms of abuse linked to recyclable materials and metals. By aligning with these international practices, the UAE is seeking to balance ease of doing business with the need for robust revenue protection.
Industry participants are now assessing how the change will affect cash flow and contractual arrangements. For suppliers, the removal of VAT charging on eligible scrap transactions may reduce administrative burdens and the need to finance VAT amounts pending recovery. Buyers, on the other hand, will need to ensure their accounting systems can correctly self-assess VAT and reflect the entries accurately in periodic returns. Tax advisers note that while the mechanism is neutral in theory for fully compliant, fully taxable businesses, errors in classification or documentation could lead to penalties.
The decision applies specifically to transactions between registrants, underscoring the importance of verifying counterparties’ VAT registration status. Businesses involved in mixed supplies, or dealing with unregistered parties, will need to distinguish carefully between transactions subject to the reverse charge and those that remain under the standard VAT rules. This distinction is expected to be a focal point of guidance and compliance reviews ahead of the January 2026 effective date.
Officials have indicated that further clarification will be issued through administrative guidance to define the scope of “metal scrap” covered by the decision, drawing on existing definitions used in customs and commercial practice. Market participants expect this to include waste and scrap from metals such as iron, steel, aluminium and copper, though the final interpretation will determine how widely the measure applies across recycling and manufacturing chains.
The timing of the announcement gives businesses more than a year to prepare, adjust contracts and update systems. Tax specialists view this lead time as significant, allowing companies to conduct impact assessments and staff training without disrupting ongoing operations. It also provides an opportunity for the authorities to engage with industry bodies and address practical concerns before enforcement begins.
Arabian Post Staff -Dubai Abu Dhabi National Oil Company has finalised a $2 billion green financing facility backed by the Korea Trade Insurance Corporation, strengthening its funding base for lower-carbon projects as it seeks to align hydrocarbon operations with long-term energy transition goals. The facility, structured under ADNOC’s Sustainable Finance Framework, is earmarked for eligible investments across the company’s upstream, downstream and chemicals businesses, including emissions-reduction technologies, […]
Hong Kong and Macau Organisations Honoured for Outstanding Achievements ESG-led Business for a Sustainable Future
HONG KONG SAR – Media OutReach Newswire – 19 December 2025 – With global acceleration towards sustainable development and rising expectations from investors and stakeholders for responsible business practices, Hong Kong and Macau enterprises in recent years have been actively integrating Environmental, Social and Governance (ESG) vision into their business strategies to drive green transformation and high-quality growth. Organised by Television Broadcasts Limited (TVB) and co-organised by the Hong Kong Productivity Council, the TVB ESG Awards 2025 (the Awards) aim to recognise and commend enterprises and organisations that have demonstrated outstanding performance in ESG and sustainable development. Now in its fourth edition, this annual flagship event recognise outstanding organisations and their achievements in ESG practices over the past year.
The ceremony was officiated by Mr. Michael WONG, GBS, JP, Deputy Financial Secretary (2nd left); Dr. LAM Ching-choi, GBS, JP, Non-official Member of the Executive Council & Chairman of the Council for Carbon Neutrality & Sustainable Development (1st right); Mr. SIU Sai Wo, General Manager (Business Operations), Television Broadcasts Limited (2nd right); and Dr. Lawrence CHEUNG Chi-chong, Chief Technology Officer, Hong Kong Productivity Council (1st left).
The ceremony was officiated by Mr. Michael WONG, GBS, JP, Deputy Financial Secretary; Dr. LAM Ching-choi, GBS, JP, Non-official Member of the Executive Council & Chairman of the Council for Carbon Neutrality & Sustainable Development; Mr. SIU Sai Wo, General Manager (Business Operations), Television Broadcasts Limited; and Dr. Lawrence CHEUNG Chi-chong, Chief Technology Officer, Hong Kong Productivity Council. Following the Green Summit held in July this year, the presentation ceremony also featured sharing sessions, inviting industry leaders and experts to exchange the latest trends and practical experience. In addition, the enhanced matching sessions enabled enterprises to connect with numerous attendees through exhibition booths to promote cross-sector collaboration and knowledge sharing.
Diverse Award Categories Recognise ESG Efforts of Hong Kong and Macau Industries
This year’s Awards include the “Outstanding ESG Award”, “Best in ESG Practices”, “Best in ESG Report”, “ESG Environmental Innovative Technology Award” and “ESG Social Innovative Technology Award”. Entries were open to five groups, namely large, medium, small market capitalisation/ GEM listed companies, as well as non-listed companies and non-profit organisations, to recognise the achievements of enterprises of different scales in ESG practices, reporting and innovation. To identify outstanding performers, a cross-sector professional judging panel appointed by TVB were responsible for assessing entries, using clear and diversified selection criteria that mainly cover five areas: environment, social, corporate governance, sustainability strategy, corporate information disclosure and communication.
Additionally, a new “Greater Bay Area ESG Excellence Enterprise Award (Macau SAR)” has been introduced this year to recognise Macau enterprises and organisations with outstanding ESG performance that actively promote sustainable development in the Macau community. Furthermore, to enhance and recognise the excellent performance of small and medium-sized enterprises (SMEs) in ESG practices and innovation, TVB has collaborated with the “ESG One” platform of the Hong Kong Productivity Council to launch the “SME ESG Excellence Award” this year. The award covers five areas: “Business Decarbonisation”, “Employee Care”, “Supply Chain Partnership”, “Sustainable Governance” and “ESG Technology Enhancement”, helping SMEs to progressively enhance their ESG performance. Organisations that did not receive the above ESG category awards but have actively performed and implemented ESG initiatives in various aspects will be eligible for nomination of “ESG Special Recognition Award – with Merit” or “ESG Special Recognition Award” in acknowledgement of their contributions.
Mr. Michael WONG, GBS, JP, Deputy Financial Secretary, said in his keynote speech, “Hong Kong possesses significant advantages in green economy transformation. As the city’s two major innovation and technology flagships, Hong Kong Science Park and Cyberport have now brought together over 270 green technology companies, representing growth of more than 80% compared to 2023, reflecting remarkably rapid development in recent years. Hong Kong can provide diversified investment and financing channels, enabling international capital to match with quality green projects. As of the end of September this year, there are over 200 SFC-authorised ESG funds with assets under management exceeding HKD1.1 trillion, demonstrating that investors are increasingly prioritising investment in sustainable development. The Government looks forward to continued collaboration with all of you to jointly build our sustainable future and make outstanding contributions to Hong Kong’s green economic development.”
Mr. SIU Sai Wo, General Manager (Business Operations), Television Broadcasts Limited, said, “The TVB ESG Awards 2025 received over 250 corporate entries this year, reflecting the growing importance of ESG for enterprises. We are grateful to all award-winning organisations and partners for their continued support of this flagship award. This year’s awardees excelled in ESG performance and set forward-looking models for the industry. TVB is actively supporting enterprises to devote resources to ESG development, incorporate sustainability into business decision-making and operations, and strengthen their sense of social responsibility. The Awards also provide a professional exchange platform for enterprises of different industries and scales to share their ESG strategies and tangible outcomes with a wider range of stakeholders.”
To help the public gain a more comprehensive understanding of the vision, mission and innovative strategies of various enterprises, the presentation ceremony featured sharing sessions. The judge Dr. Lawrence CHEUNG Chi-chong, Chief Technology Officer, Hong Kong Productivity Council, together with representatives from enterprises receiving the Outstanding ESG Award, exchanged practical insights. As the highest honour of this year’s Awards, the Outstanding ESG Award is conferred upon top-tier organisations in each category that have achieved the best performance in both “ESG Practices” and “ESG Report”. The award-winning enterprises shared their insights in the session titled “Partnering Across Sectors to Co-create a Low-carbon Future”:
Ms. Jessica CHAN, Head of Sustainability of MTR Corporation, shared how MTR leverages its diversified business portfolio to drive carbon reduction and social inclusion in daily operations, thus encouraging business partners to enhance their ESG performance.
Ms. Angel SZE, Company Secretary and Head of ESG Management Committee, Fosun International Limited, who shared how Fosun is driving innovation and global development to create value, while highlighting effective ESG practices for cross‑industry and cross‑regional enterprises.
Ms. Connie LAU, Assistant General Manager, Legal Department, China State Construction Development Holdings Limited, who used examples of innovative applications to demonstrate the company’s breakthroughs and decarbonisation goals.
Mr. Jonathan CHIU, President, Schneider Electric Hong Kong, who highlighted the company’s commitment as a global energy technology leader to driving efficiency and sustainability by electrifying, automating and digitalising industries, businesses and homes, contributing to Hong Kong’s low-carbon transition.
Mr. Peter LEE, Chief Sustainability Officer, Airport Authority Hong Kong, elaborated on how the authority collaborates with business partners and extends the sustainability concept to the society and education sector.
Mr. Oswald AU, Managing Director, Riskory Consultancy Limited, shared how SMEs can drive ESG through innovative solutions and practical actions, while leveraging mega event economy development to create greater impact.
The judge Dr. Lawrence CHEUNG Chi-chong, Chief Technology Officer, Hong Kong Productivity Council (1st left), together with representatives from enterprises receiving the Outstanding ESG Award, Ms. Jessica CHAN, Head of Sustainability of MTR Corporation (2nd left); Ms. Angel SZE, Company Secretary and Head of ESG Management Committee, Fosun International Limited (3rd left); Ms. Connie LAU, Assistant General Manager, Legal Department, China State Construction Development Holdings Limited (4th left); Mr. Jonathan CHIU, President, Schneider Electric Hong Kong (3rd right) ; Mr. Peter LEE, Chief Sustainability Officer, Airport Authority Hong Kong (2nd right); Mr. Oswald AU, Managing Director, Riskory Consultancy Limited (1st right), exchanged practical insights in the session titled “Partnering Across Sectors to Co-create a Low-carbon Future”.
Building on these insights, another sharing session titled “Building a Green and Sustainable Pathway: Advancing Liveable, Inclusive Smart Cities” invited Mr. Andy WONG, Senior Manager, Advocacy, Our Hong Kong Foundation, as moderator. He was joined by Ir. Franco CHEUNG, Director (Projects), Hong Kong Housing Society, Mr. Samuel KWONG, Senior Associate Director – ESG, Chinachem Group and Mr. Jeffery LOK, Managing Director, Kwan On Chemical Enterprise Co. Ltd., for in-depth discussions on topics such as decarbonisation planning, the application of green building technologies including Modular Integrated Construction (MiC), kitchen and grease trap waste oil recycling, exploring the roadmap for Hong Kong and Macau’s sustainable urban development and environmental benefits.
The sharing session titled “Building a Green and Sustainable Pathway: Advancing Liveable, Inclusive Smart Cities” invited Mr. Andy WONG, Senior Manager, Advocacy, Our Hong Kong Foundation (1st left), as moderator. He was joined by Ir. Franco CHEUNG, Director (Projects), Hong Kong Housing Society (2nd left); Mr. Samuel KWONG, Senior Associate Director – ESG, Chinachem Group (2nd right); Mr. Jeffery LOK, Managing Director, Kwan On Chemical Enterprise Co. Ltd. (1st right) for in-depth discussions.
This year’s ceremony attracted enthusiastic participation from numerous enterprises and organisations, including listed companies, non-listed companies and non-profit organisations, signalling the local market’s increasing commitment to ESG. Enhanced matching sessions with exhibition booths were arranged before and after the ceremony, allowing participants to engage in in-depth exchanges on green technology solutions, sustainable development and eco-friendly materials, and to explore collaboration opportunities.
The issuer is solely responsible for the content of this announcement.
About TVB ESG
Since 2022, TVB ESG has been committed to building a professional exchange platform for local sustainable development, promoting a deeper understanding, implementation, and strategic development of Environmental, Social and Governance (ESG) issues among businesses and different sectors of society. TVB ESG works closely with various organisations to foster cross-sector collaboration, help enterprises expand their professional networks and strengthen industry connections, while enhancing their visibility in the market and industry through diverse channels, thereby amplifying their impact in the ESG field.
To enhance industry exchange and promote a culture of sustainability, TVB ESG organises three core events every year, the Green Forum, the Green Summit and the “TVB ESG Awards”. These events aim to focus on key environmental issues and emerging trends, bringing together industry leaders and experts to provide forward-looking insights for enterprises, promote knowledge sharing, and facilitate the exchange of best practices. Through the “TVB ESG Awards”, TVB ESG also recognises enterprises and organisations with outstanding achievements in sustainable development, encouraging the industry to continuously implement and elevate ESG standards.
HONG KONG SAR – Media OutReach Newswire -19 December 2025 – HKAccidentLawyers.com and the HKCivilClaim.com today released the 2025 Annual Claims Data Report, providing summaries for each key data point to enhance legal literacy among accident victims.
1. Work Injury Claims Data (Total: 1,032 Cases) Sick Leave Distribution:
0 – 30 Days: 279 cases
31 – 100 Days: 323 cases
101 – 300 Days: 261 cases
301 – 700 Days: 145 cases
701 – 1,000 Days: 18 cases
1,001 – 2,000 Days: 3 cases
Over 2,000 Days: 3 cases
Summary: Over 58% of cases involve fewer than 100 days of sick leave, indicating that minor injuries remain the norm. However, extreme cases exceeding 2,000 days highlight the dire need for long-term legal and financial support for severely injured workers.
Assessment of Earning Capacity:
0% – 4%: 745 cases
5% – 14%: 188 cases
15% – 34%: 52 cases
35% – 64%: 11 cases
65% – 94%: 10 cases
95% – 100%: 26 cases
Summary: A “pyramid” distribution is observed, with 72% involving minor impairments. Yet, the 26 cases of near-total disability (95-100%) underscore the catastrophic impact of high-risk workplace accidents on families.
Estimated Results:
HK$0 – $50,000: 381 cases
HK$50,001 – $100,000: 226 cases
HK$100,001 – $200,000: 147 cases
HK$200,001 – $500,000: 109 cases
HK$500,001 – $1,000,000: 125 cases
HK$1,000,001 – $2,000,000: 31 cases
HK$2,000,001 – $5,000,000: 13 cases
Summary: 16% of inquiries yield estimates above HK$500,000. These cases often involve complex future loss of earnings, signaling a high demand for specialized legal advocacy in high-value claims.
2. Traffic Accident Claims Data (Total: 868 Cases) Injured Body Parts:
Back / Spine: 176 cases
Lower Back / Hips: 118 cases
Head: 112 cases
Shoulder: 111 cases
Neck: 105 cases
Leg: 104 cases
Knee: 74 cases
Arm: 68 cases
Summary: Back and spine injuries are the most frequent, often resulting from whiplash in rear-end collisions. These injuries are critical for PSLA (Pain, Suffering, and Loss of Amenities) evaluations in civil court.
Nature of Injuries:
Sprain: 241 cases
Fracture: 180 cases
Contusion: 169 cases
Nerve / Brain: 139 cases
Internal: 74 cases
Dislocation: 65 cases
Summary: While sprains are most common, the high number of nerve and brain injuries (139 cases) is concerning, as these often lead to permanent functional impairment.
Estimated Results:
HK$0 – $100,000: 422 cases
HK$100,001 – $200,000: 162 cases
HK$200,001 – $500,000: 179 cases
HK$500,001 – $1,000,000: 98 cases
HK$1,000,001 – $2,000,000: 5 cases
HK$2,000,001 – $10,000,000: 0 cases
Over HK$10,000,000: 2 cases
Summary: Traffic claims show extreme polarization. While most stay below HK $100k, two cases exceeded HK$ 10 million, reflecting the massive social cost of life-altering road collisions.
Mandatory Disclaimer
IMPORTANT: All compensation figures are generated by the “AI Compensation Calculator” based on user input. These are preliminary estimates only and not final actual compensation amounts. Final payouts depend on court rulings, liability apportionment, and medical evidence. Victims must seek formal legal advice from practicing lawyers.
Denmark has begun a phased retreat from Microsoft software across parts of its public administration, signalling a broader reassessment of how governments manage dependence on dominant technology suppliers and safeguard digital sovereignty. The shift, confirmed by officials overseeing state IT procurement, starts with the transport and traffic administration but is framed as a test case for wider adoption across ministries and agencies. At the centre of the […]
A federal appeals court in the United States has breathed new life into a class-action lawsuit accusing Apple of running the App Store as an unlawful monopoly, a ruling that sharpens pressure on one of the world’s most valuable companies and adds momentum to antitrust scrutiny facing Big Tech across several jurisdictions. The Ninth U. S. Circuit Court of Appeals overturned a lower court decision that had […]
Canada faces another period of economic uncertainty as the U. S. Supreme Court weighs a case that could reshape the legal foundations of tariffs imposed during Donald Trump’s presidency, reviving questions about the stability of cross-border trade rules and the exposure of Canadian industries to abrupt policy shifts. The pending decision centres on the scope of presidential authority to levy tariffs under long-standing U. S. trade statutes, […]
Washington has approved an arms package for Taiwan valued at about $11.1 billion, a move described by officials as the largest single tranche of US military support for the island and one that has prompted a sharp diplomatic response from Beijing. The decision underscores a widening security rift across the Taiwan Strait as pressure on Taipei intensifies through military drills, air patrols and naval manoeuvres. The package, […]
Red Hat has acquired Chatterbox Labs, a specialist in artificial intelligence safety and security tooling, aiming to embed advanced risk-testing and guardrails into its enterprise AI platform to help organisations deploy trustworthy, production-grade AI at scale. The deal, announced this month by the hybrid cloud and open source software provider, expands Red Hat’s AI portfolio, which now includes bespoke safety capabilities designed to address vulnerabilities inherent in […]
South Korea’s central bank has unveiled temporary measures to increase the supply of US dollars in the onshore foreign exchange market, responding to renewed pressure on the won and heightened volatility driven by global monetary conditions and capital flows. The steps, announced in Seoul, are designed to stabilise market functioning rather than signal a shift in the broader policy stance, according to officials familiar with the decision.
The Bank of Korea said it would expand and fine-tune existing mechanisms that channel dollar liquidity to domestic banks, including adjustments to foreign exchange swap operations and closer coordination with financial institutions that rely on short-term dollar funding. The announcement followed sharp movements in the won that reflected a stronger dollar globally, shifting expectations over US interest rates and risk-averse sentiment among international investors.
Authorities stressed that the measures are temporary and targeted. Central bank officials indicated that the aim is to smooth excessive fluctuations and ensure that firms and banks can access foreign currency at reasonable costs, rather than to defend a specific exchange rate level. Market participants have long viewed this distinction as important, particularly after past episodes when heavy-handed intervention drew criticism from trading partners.
South Korea’s economy is deeply integrated into global trade and finance, making its currency sensitive to swings in the dollar. Exporters and importers alike depend on predictable access to foreign currency, while domestic banks hold sizeable short-term foreign liabilities that can become vulnerable during periods of stress. Episodes of dollar scarcity can amplify volatility, as companies rush to hedge exposures and banks scramble to secure funding.
The central bank’s move builds on a toolkit refined over the past decade. FX swap facilities allow banks to exchange won for dollars with the central bank for a set period, easing immediate shortages without depleting official reserves. By adjusting maturities, volumes and pricing, policymakers can influence conditions in the onshore market while signalling readiness to act if dislocations worsen.
Government officials, speaking separately, said fiscal and regulatory authorities were aligned with the central bank’s approach. The finance ministry has held regular consultations with the Bank of Korea and financial regulators to monitor cross-border capital movements, particularly as global investors rebalance portfolios in response to shifting yield differentials. Officials noted that South Korea’s foreign exchange reserves remain ample by international standards, offering a buffer against disorderly market moves.
Economists said the measures reflect a broader trend among Asian central banks grappling with a strong dollar environment. While many economies in the region maintain flexible exchange rates, policymakers have shown a willingness to step in when liquidity dries up or price action becomes detached from fundamentals. In South Korea’s case, analysts pointed to stable external balances and a manageable current account position as factors that give authorities room to act calmly.
Banks welcomed the announcement, saying predictable access to dollar liquidity helps reduce funding costs and limits the risk of knock-on effects to credit markets. A senior treasury executive at a major commercial bank said the adjustments would “help smooth day-to-day operations” at a time when global markets remain sensitive to policy signals from Washington and other major capitals.
Currency strategists cautioned, however, that temporary measures alone cannot offset sustained external pressures if global conditions remain unfavourable. They noted that the won’s performance will continue to be influenced by US monetary policy expectations, geopolitical developments and investor appetite for emerging market assets. Any prolonged mismatch between dollar demand and supply could require further action, though officials have signalled a preference for gradual, market-friendly steps.
The Bank of Korea has repeatedly emphasised that foreign exchange policy operates alongside, not in place of, its primary mandate of price stability. With inflation dynamics evolving and domestic growth facing headwinds from weaker external demand, policymakers are balancing multiple objectives. The central bank has avoided linking the FX measures directly to interest rate decisions, underscoring that liquidity management in currency markets serves a different purpose.
Two former employees of cybersecurity firms have pleaded guilty in a United States federal court to criminal charges after admitting they secretly carried out ransomware attacks against companies they were supposed to help protect, a case that has sent shockwaves through the cyber-security industry and reignited concerns about insider threats. Prosecutors said the defendants used their technical knowledge and access to professional tools to identify vulnerabilities in […]
Abu Dhabi Global Market has entered its second decade with a sharp acceleration in global financial activity, announcing the addition of 11 major international financial institutions whose combined assets under management exceed $9 trillion, a move that underscores the centre’s rapid ascent as a leading global hub for asset management. The influx lifts total assets managed within ADGM to about $1.27 trillion, a steep rise from $635 […]
ADQ and the Gates Foundation have announced a partnership aimed at scaling the responsible use of artificial intelligence and education technology to improve learning outcomes for children across sub-Saharan Africa, marking one of the most ambitious cross-sector efforts to apply advanced technology to foundational education systems in the region.
The agreement was unveiled on the sidelines of Abu Dhabi Finance Week during a visit to the UAE by Bill Gates, chair of the Gates Foundation, underscoring the growing role of Abu Dhabi-based sovereign investors in global development initiatives that extend beyond traditional infrastructure and capital deployment.
At its core, the partnership seeks to blend ADQ’s experience as a sovereign investor focused on critical infrastructure and global supply chains with the Gates Foundation’s long-standing work in education, health, and technology-driven development. The collaboration is designed to accelerate the deployment of AI-enabled tools that support teachers, personalise learning, and strengthen education systems while addressing concerns around data privacy, equity, and long-term sustainability.
ADQ–Gates alliance targets AI-powered learning systems as governments and development agencies look for scalable solutions to persistent gaps in literacy, numeracy, and teacher capacity across sub-Saharan Africa. Despite progress in school enrolment over the past two decades, learning outcomes across much of the region continue to lag global averages, with large disparities between urban and rural areas.
Officials familiar with the partnership say the focus will extend beyond hardware or software procurement. Programmes are expected to prioritise teacher support platforms, curriculum-aligned digital content, and AI-driven assessment tools that can function in low-bandwidth environments. Emphasis is also being placed on building local capacity so that education ministries and institutions can manage and adapt systems without long-term dependence on external providers.
The Gates Foundation has invested heavily in education technology across Africa, backing initiatives that use data analytics and adaptive learning models to improve classroom instruction. Its approach has increasingly shifted towards ensuring that digital tools complement teachers rather than replace them, a principle that is expected to guide the collaboration with ADQ.
For ADQ, the partnership aligns with a broader strategy of deploying capital and expertise into sectors that underpin economic resilience and human development. While the Abu Dhabi-based group is widely known for investments in ports, logistics, food security, and energy, it has expanded its scope to include technology-driven solutions with global impact, particularly in emerging markets.
Bill Gates, speaking during his visit to Abu Dhabi, highlighted the transformative potential of AI when applied responsibly to education systems under strain. He noted that advances in machine learning and language models can help teachers tailor lessons to individual students and identify learning gaps early, provided the technology is designed with clear safeguards and local realities in mind.
Education specialists caution that AI adoption in low-income settings carries risks if implemented without adequate oversight. Challenges include uneven access to electricity and connectivity, limited digital literacy among educators, and the potential for algorithmic bias when systems are trained on data that does not reflect local contexts. The partners say governance frameworks and pilot-based rollouts will be central to mitigating these risks.
The collaboration comes at a time when African governments are under pressure to modernise education systems while managing tight budgets and rapidly growing school-age populations. Multilateral lenders and philanthropic organisations have increasingly encouraged public–private partnerships to bridge funding and expertise gaps, particularly in technology deployment.
Abu Dhabi Finance Week has become a platform for such announcements, reflecting the emirate’s ambition to position itself as a hub for global capital addressing development challenges. ADQ’s involvement signals a model in which sovereign investors participate not only as financiers but as strategic partners shaping long-term outcomes.
People briefed on the initiative say initial programmes will focus on a select group of countries, working closely with education ministries to align AI tools with national curricula and policy objectives. Over time, successful models could be adapted across the region, with lessons shared among participating governments.
The Gates Foundation has previously stressed that technology alone cannot fix systemic issues in education, such as overcrowded classrooms or shortages of trained teachers. As a result, the partnership is expected to integrate AI solutions with broader reforms, including teacher training and data-informed policymaking.
Heavy rainfall across Dubai prompted authorities to urge residents to remain indoors as flooding alerts were activated across several neighbourhoods, disrupting transport, schooling and daily life while emergency teams moved to manage water accumulation on key roads.
Police and civil defence units said weather conditions had deteriorated rapidly overnight, with intense downpours leading to waterlogging in low-lying areas and reduced visibility on major arteries. Motorists were advised to avoid unnecessary travel, particularly near underpasses, tunnels and wadis, where runoff posed heightened risks. Schools in parts of the emirate shifted to remote learning, while several private institutions announced temporary closures after campus access became difficult.
The advisory underscored how Dubai urges residents indoors amid heavy rainfall, reflecting a coordinated response involving municipal services, transport authorities and utilities. Drainage pumps were deployed in multiple districts as crews worked to clear debris from stormwater grates. Electricity and water providers said services remained largely stable, though teams were on standby to address any outages caused by flooding or lightning strikes.
Meteorological officials attributed the rainfall to an active weather system drawing moist air across the region, producing prolonged showers and occasional thunderstorms. Forecasts indicated intermittent rain could persist through the day, with gusty winds and hail reported in isolated pockets. Authorities cautioned residents against venturing into flooded streets, stressing that even shallow water can conceal hazards and compromise vehicle control.
Public transport services adjusted schedules as a precaution. Portions of the road network experienced slow-moving traffic during peak hours, while ride-hailing operators reported higher demand as residents avoided driving. At the city’s airports, airlines warned of possible delays and advised passengers to check flight status before travelling. Ground handlers said operations were continuing with additional safety measures to manage wet runways and reduced visibility.
Dubai Municipality said its crisis management protocols had been activated, with field teams monitoring drainage performance and responding to citizen reports. The Roads and Transport Authority urged commuters to follow official updates and avoid sharing unverified information, noting that real-time advisories would be issued as conditions evolved. Health officials reminded residents to keep children indoors and to secure loose items on balconies and rooftops to prevent accidents during strong winds.
Urban planners and climate researchers note that extreme rainfall episodes are testing the resilience of cities built in arid environments. While Dubai has invested heavily in drainage infrastructure, the intensity and duration of storms can overwhelm systems designed for historically lower precipitation levels. Experts emphasise the importance of adaptive planning, including enhanced runoff capacity, permeable surfaces and improved forecasting integration to reduce disruption during severe weather.
Businesses across retail and hospitality sectors adjusted operations as footfall dipped in affected areas. Some malls delayed opening hours, while restaurants shifted to delivery-only service. Employers were encouraged to offer flexible work arrangements, particularly for staff commuting from flood-prone districts. Insurance providers reported an uptick in inquiries related to vehicle and property coverage, advising policyholders to document any damage once conditions allow safe inspection.
Matein Khalid I was sure the Medline IPO would be a winner since I have tracked this business since it was acquired in a $30 billion leveraged buyout by Blackstone, Carlyle and the San Fran private equity house Hellman & Friedman after the bankers priced the deal at 29, I even wrote a post several hours before the New York open, reiterating that the largest private equity […]
Greenlogue/AP AMEA Power has commissioned a 120 megawatts-peak solar photovoltaic plant in Tunisia’s Kairouan Governorate, adding one of the country’s largest utility-scale renewable assets to the national grid and strengthening North Africa’s push to diversify power generation. The project operates under a 20-year power purchase agreement with Société Tunisienne de l’Electricité et du Gaz, providing long-term offtake certainty for the state utility and stable revenues for the […]
Active Apparel Group Strengthens Lever Style’s Activewear Capabilities
HONG KONG SAR – Media OutReach Newswire – 17 December 2025 – Lever Style Corporation (HKEX: 1346, “Lever Style”), has acquired designated assets from Active Apparel Group (“AAG”) through an asset purchase agreement. This marks Lever Style’s seventh acquisition since its initial public offering in 2019. This transaction strengthens Lever Style’s activewear expertise.
Active Apparel Group is a well-established apparel specialist with 38 years of experience serving premium global brands, and deep expertise across activewear, outerwear, and swimwear. AAG’s activewear segment is the fastest growing one in the apparel industry, and it complements Lever Style’s existing strength in the fashion segment. AAG’s product sophistication and customer tier are also on par with Lever Style’s premium positioning, enabling cross-selling opportunities in other product categories and enhancing operating leverage.
Lever Style already has a strong foundation in activewear and performance apparel, serving leading global brands such as Arc’teryx, Columbia Sportswear, Helly Hansen, Spanx, Skims, and J.Lindeberg. The Group also works with a broad portfolio of premium and contemporary brands including Alexander Wang, Theory, Todd Snyder, and others, as well as digitally native brands such as Bonobos and Ministry of Supply.
Active Apparel Group is a production partner for leading technical and lifestyle apparel brands, including Greyson, Johnnie-O, Sun Day Red, Boggi, and Bandit Running.
With the US market rocked by tariffs and Europe still mired in war, 2025 has become a challenging year for the apparel industry. Given the increasing risk of a tariff-induced US recession in 2026, the Group has put more focus on pursuing inorganic growth.
“Bad times are the best times to buy” said Stanley Szeto, Executive Chairman of Lever Style. “This acquisition strengthens our activewear expertise and enables us to deliver greater value to our clients across an even broader range of product categories.”
The issuer is solely responsible for the content of this announcement.
About Lever Style
Listed on the Hong Kong Stock Exchange, Lever Style (HKEX 1346) is the world’s premier apparel production platform for premium contemporary and designer brands such as Alexander Wang, Theory, Todd Snyder, and Aimé Leon Dore; active and performance brands such as Arc’teryx, Columbia Sportswear, Helly Hansen, Spanx, Skims, and J.Lindeberg; and digitally native brands and platforms such as Bonobos and Ministry of Supply.
Our supply chain solutions encompass fashion design, prototype development, raw material procurement, production, quality control, and logistics. Our innovative, modularized multi-country platform delivers high-mix, low-volume orders and reduces excess inventory and stockouts. Our versatile approach is rooted in decades of technical expertise gained from working with many of the world’s highest-quality and most demanding brands. We support production for more than 150 brands through a network of more than 100 factories across seven countries: Vietnam, China, Cambodia, Indonesia, Bangladesh, Sri Lanka, and India. A certified B Corp, Lever Style is a committed ESG leader in the apparel production sector.
Apple is evaluating the assembly and packaging of iPhone chips in India as part of a broader effort to rebalance its global supply chain, with CG Semi emerging as a potential partner, according to people familiar with the matter and public disclosures by companies involved in India’s semiconductor push. The move would mark a deeper localisation step beyond final device assembly and signal confidence in India’s ability to host advanced backend semiconductor operations.
The discussions centre on outsourced semiconductor assembly and test, a critical stage that follows wafer fabrication and precedes integration into devices. Apple’s A-series and M-series chips are designed in California and fabricated by Taiwan Semiconductor Manufacturing Company. Packaging and testing have largely been concentrated in East Asia, with China playing a central role through specialised facilities. Shifting part of this work to India would reduce geographic concentration risk while aligning with policy incentives offered by New Delhi to attract high-value electronics manufacturing.
CG Semi, the semiconductor arm of CG Power and Industrial Solutions, has been positioning itself as a contender in this space through a joint venture with Japan’s Renesas Electronics and Thailand’s Stars Microelectronics. The consortium has outlined plans for an OSAT facility in Gujarat, supported by central and state incentives under the Semiconductor Mission. While timelines and customer commitments have not been formally disclosed, the venture has been presented by partners as targeting advanced packaging for automotive and consumer electronics chips, an overlap that fits Apple’s requirements.
People tracking the talks caution that Apple’s evaluation remains exploratory. The company typically subjects suppliers to multi-year qualification processes covering yield, reliability, intellectual-property safeguards and environmental standards. Any decision would depend on CG Semi’s ability to meet Apple’s exacting specifications at scale and to integrate with the existing manufacturing ecosystem that includes contract assemblers such as Foxconn and Tata Group entities already producing iPhones in India.
India’s pitch rests on a combination of incentives and momentum. Production-linked incentive schemes have helped lift smartphone assembly volumes, with Apple accounting for a growing share of exports. The government has since widened support to semiconductors, offering capital subsidies, infrastructure backing and fast-tracked approvals. Backend operations are viewed as a pragmatic entry point, requiring lower capital expenditure and shorter build times than wafer fabs, while still delivering skilled jobs and technology transfer.
Industry analysts say Apple’s interest reflects a global trend among chip designers to diversify OSAT footprints amid geopolitical tensions and supply disruptions. Packaging has become more complex as chips move to advanced nodes and heterogeneous integration, raising the strategic value of reliable partners. “Advanced packaging is no longer a commodity step; it’s a differentiator,” said one semiconductor consultant who advises multinational clients on Asia manufacturing strategies. “Design houses want redundancy without sacrificing quality.”
For CG Semi, an Apple engagement would be transformative. CG Power, part of the Murugappa Group, has roots in electrical equipment rather than semiconductors. Its partnership with Renesas brings process know-how and credibility, while Stars Microelectronics contributes OSAT experience from Thailand. Securing a marquee customer would accelerate learning curves and help anchor a local supplier network for substrates, testing equipment and specialised chemicals.
There are constraints. India’s semiconductor ecosystem remains nascent, with gaps in materials, talent depth and logistics that could challenge tight production schedules. Power reliability, water availability and customs efficiency are under scrutiny by global manufacturers. Apple has previously paused or redirected supplier plans when execution risks appeared elevated, underscoring the need for consistent policy implementation at the state level.
Apple has not commented publicly on specific supplier discussions. CG Power has also refrained from naming potential customers, reiterating in filings that its semiconductor venture is at a development stage. Officials involved in the Semiconductor Mission have said backend projects are progressing and that customer announcements will follow commissioning milestones.
By K Raveendran Oil prices slipping below $60 a barrel for the first time since February 2021 and a sharp easing in European gas prices mark more than a cyclical downturn in commodities. They signal a rapid repricing of geopolitical risk at a moment when diplomacy, rather than escalation, has begun to dominate market psychology. […]
Oman’s sovereign wealth fund arm ITHCA Group has entered a strategic investment partnership with Saudi Vision Venture Capital, marking a significant step in Muscat’s efforts to deepen the funding pool and regional reach available to start-ups based in the sultanate. The agreement is designed to give Omani founders structured access to the Saudi investment ecosystem, one of the largest and fastest-growing venture capital markets in the Middle […]
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