Hanoi is set to host the 16th Global CSR & ESG Summit and Awards 2024TM on April 25, 2024, at the Novotel Hotel Thai Ha, marking a significant event dedicated to promoting corporate social responsibility (CSR) and environmental, social, and governance (ESG) practices worldwide. Under the theme “Generating Meaningful Impact. Unlocking Value,” the summit aims to foster tangible, sustainable change through innovative strategies and collaborative efforts in the CSR and ESG arenas. The event will feature a comprehensive program, including a pre-summit Integrated Reporting Workshop led by sustainability expert Prof. Geoffrey Williams on April 24, designed to enhance integrated thinking…
Author: Michael Chen
Michael Chen
Based in Hong Kong, Michael Chen is expert in financial reporting, having worked for a business wire agency for at least five years. He currently works full time as Business News Asia’s Hong Kong / China correspondent.
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Adyen, the global financial technology platform of choice for leading businesses, announces that it is powering payments for global hospitality operator Frasers Hospitality in Singapore, Malaysia, Australia, and across Europe. An award-winning brand renowned for its service excellence, Frasers Hospitality understands that continuous innovation is key to providing its guests with memorable stays and in 2021, it introduced frictionless guest experiences across its web, check-in and food and beverage (F&B) powered by Adyen’s single platform offering. Through this partnership, guests arriving at Frasers Hospitality-owned properties can spend less time at reception during check-ins/check outs, and more time enjoying the quiet…
PH Resorts Group Holdings, Inc, the gaming and tourism holding company of the Udenna Group, announced that its subsidiaries, Lapulapu Leisure, Inc and Lapulapu Land Corp, have entered into a tentative agreement for an exclusive partnership with Tiger Resort Leisure & Entertainment, Inc to complete PH Resorts’ partially developed Emerald Bay Resort and Casino in Mactan, Cebu. TRLEI is the operator of the Okada Manila integrated casino, hotel and entertainment complex located in Entertainment City, Metro Manila. “This new venture is aligned with our strategy to increase our footprint in the Philippines, given our remarkable success with Okada Manila,” said…
VTEX (NYSE: VTEX), a global enterprise digital commerce platform, has partnered with Motorola India to enhance its direct-to-consumer (D2C) strategy and expand its digital-first approach. This collaboration has introduced various customer functionalities like affordability schemes and multiple payment options, including PayU’s integration offering over 100 payment methods. Motorola India, leveraging VTEX’s responsive and customizable platform, has seen significant improvements in customer experience, SEO, and analytics insights, allowing a deeper understanding of consumer feedback. This has enabled Motorola to double its business monthly for the first three months since going live in July 2022. Shivam Ranjan, Marketing Head at Motorola Asia…
DE-CIX Malaysia, a subsidiary of the global Internet Exchange (IX) leader DE-CIX Group, has announced a collaboration with Digital Penang, an innovative digital organization owned by the State of Penang, to establish the Penang Internet Exchange (PIX) powered by DE-CIX. This partnership is set to transform Penang’s interconnectivity landscape and elevate the region’s digital capabilities with enhanced internet connectivity. Wong Weng Yew, a member of DE-CIX Malaysia’s Board of Management, expressed excitement about the partnership, noting Penang’s potential as an upcoming interconnectivity hub in Southeast Asia. “This state-of-the-art interconnection platform will fuel the growth of Penang’s digital ecosystem and provide…
The Commonwealth of The Bahamas is developing a National Emissions and Bio Asset Registry, joining a cohort of nations such as Singapore, Ghana, Jordan, Chile, and Vanuatu in enhancing their carbon markets. This initiative aligns with their Nationally Determined Contributions (NDCs) under the Paris Climate Agreement. Recognizing the urgent need to address the severe impacts of climate change, particularly after experiencing devastating weather events, The Bahamas is embarking on this path to bolster confidence and growth in its emerging carbon market. The initiative also aims to support and preserve the country’s rich biodiversity. The Bahamian government has engaged Bioeconomy, a…
Global employment management platform, Employment Hero, announced today a Series F growth round, securing SGD229 million (about $167 million) to bolster its international expansion. This follows its 2022 Series E round, bringing the total raised capital to over SGD 572 million. These funds have facilitated the development of its comprehensive platform that aids both employers and employees in managing employment seamlessly. The platform enables streamlined recruitment, onboarding, and management processes for employers. Employees benefit from the Employment Hero super-app, ‘Swag’, assisting them in efficiently handling their work and finances, especially vital in the current economic climate. This investment round was…
Cryptocurrencies have forever altered the discourse around financial assets and have introduced a host of challenges and opportunities for regulators globally. The need for a reliable licensing framework for cryptocurrency-related activities is more crucial than ever. Here’s a deep dive into this intricate universe. 1. The Theoretical Underpinnings of Regulatory Frameworks Regulatory frameworks aren’t mere limitations but scaffolds that legitimize and structure emerging industries like cryptocurrency. These laws build an environment of trust that facilitates both consumer and business interactions. 2. Cryptocurrency: A Legal Quagmire Due to their decentralized nature, cryptocurrencies offer unique regulatory challenges. They exist in a liminal…
After reporting a record net income of US$250 million for the first half of 2023, Philippine Airlines (PAL) has announced plans to significantly invest in expanding its fleet and improving services. The airline’s H1 2023 net income, reflecting a massive jump from last year, has prompted this bold move. In a significant expansion strategy, PAL intends to purchase nine Airbus A350-1000 long-range jetliners, with an aggregate value surpassing US$3.2 billion. Alongside fleet expansion, the airline is intensifying its focus on customer experience by adding more customer service representatives, and introducing a new customer relations management system later this year. This…
Singapore-based Motion G, Inc. has closed a new round of funding led by Episteme, Inc., securing an additional US$16 million. By leveraging advancements in machine learning, AIGC, data science and digital twin technologies, the firm aims to revolutionize the engineering process to significantly drive productivity. Through its AI-powered generative engineering platform, Motion G delivers groundbreaking integrated solutions for industry applications including motion control and flexible transport, raising the bar for productivity by accelerating projects from concepts to reality with unparalleled speed and accuracy. The solutions have been applied rapidly in multiple industries. In its pursuit of transforming traditional testing practices,…
Subsea trenching and excavation innovator, Rotech Subsea, has completed key IRM operations at a major Dutch offshore wind farm in the North Sea. The leading provider of Controlled Flow Excavation and specialist IRM tools delivered the cable de-burial, grab, cut, recovery and post-lay trenching for a Netherlands-headquartered global subsea solutions provider. Deploying its TRS2 CFE / RS2-3 hybrid Jet Trenching tool and RSG-C Integrated grab, cut and recovery tool, Aberdeen-based Rotech Subsea completed the de-burial of the 0.4km of 118mm cable in two passes at water depths of between 35-40m. Operating at just 45-60% power – and progressing at 3m/min…
Indonesian digital investment platform Stockbit has teamed up with Fullerton Fund Management Company, a Singapore-based investment specialist, in a strategic partnership. This collaboration is designed to cater to the burgeoning wealth management demands of Indonesian investors. As a joint initiative, Stockbit and Fullerton have acquired PT Ayers Asia Asset Management, an Indonesian asset management firm headquartered in Jakarta. The acquisition paves the way for a united front in creating and distributing superior investment solutions to a broad range of investors, including retail clients, intermediaries, and institutions. CEO and Co-founder of Stockbit, Sigit Kouwagam, expressed gratitude towards the Financial Services Authority…
Cement decarbonization pioneer Fortera has teamed up with the Alliance for Low Carbon Cement and Concrete (ALCCC), ECOS, and ten other inaugural alliance members to advocate for low carbon cement. The ALCCC aims to hasten the decarbonization process in the cement and concrete industries. Its members encompass materials designers, producers, and start-ups specializing in biotechnology, carbon capture, materials technology, and sustainable construction. The ALCCC has released a study, “Fast Tracking Cement Decarbonization,” modeling carbon emissions mitigation scenarios utilizing available solutions. According to the study, by adopting suitable standards, policies, and financing instruments, CO2 emissions could be halved. Fortera’s CEO Ryan…
The Tourism Authority of Thailand (TAT) has unveiled the ‘Amazing Thailand Culinary City’ project, aimed at promoting Thailand as a global gastronomy tourism destination. This initiative aligns with the Thai government’s Bio-Circular-Green (BCG) Economy Model, aiming to fuel development under a creative economy. Chattan Kunjara Na Ayudhya, TAT Deputy Governor for Marketing Communications, expressed the project’s alignment with the BCG Economy Model. “The Amazing Thailand Culinary City project includes the AGFEC components: Agriculture, Gastronomy, Food Safety, Experience, and Creative Entrepreneur,” he said, emphasizing the initiative’s potential to stimulate a circular economy and national development towards economic, social, and environmental sustainability.…
Southeast Asian integrated property developer SM Prime Holdings, Inc. (SM Prime) has listed its Series S, T, and U fixed rate bond at the Philippine Dealing and Exchange Corp. (PDEx) via a virtual ceremony today. Raising over PHP30 billion from a base offer of PHP25 billion, this marks the fifth tranche of SM Prime’s PHP100-billion worth of Debt Securities. The bonds were offered between May 8 and 12, with interest rates ranging from 6.2069% to 6.3275%. “We are very grateful for the trust and support of the investing public, as well as to our bank partners, the PDEx, Philippine Depository…
Unitea, a Miami-based music platform that incentivizes fan engagement with blockchain-authenticated rewards, raised $7M in a funding round. The round was led by 1st Class Guernsey, Chaos Capital, TokenSociety, and Fuel Venture Capital. Unitea aims to strengthen the bond between artists and their fans by offering a platform that fosters meaningful interactions and innovative artist content. The platform’s unique “engage-to-earn” model encourages music fans to share their data, which they can exchange for rewards dubbed “Karma”. This data provides valuable insights for artists and opens up targeted advertising opportunities for brands. CEO Ketan Rahangdale leads the company, which is committed…
Filinvest Land, Inc. (FLI), one of the leading real estate developers in the Philippines, has announced positive financial results for the first quarter of 2023. The company reported a 9% increase in net income attributable to equity holders of the parent, amounting to Php741 million. Furthermore, total consolidated revenues and other income rose by Php386 million or 9% year-on-year, reaching Php4.69 billion, with all major business segments contributing to the growth. FLI President and Chief Executive Officer, Tristan Las Marias, expressed optimism despite challenges posed by high interest rates and inflation. Las Marias highlighted the company’s success in achieving growth…
Global private equity major KKR has announced its increased stake in Seiyu, a leading supermarket chain in Japan, through the purchase of Rakuten’s stake in the company. KKR’s stake in Seiyu will rise from 65% to 85% as a result of the transaction. The collaboration between KKR, Rakuten, and Walmart, Seiyu’s third shareholder, has been instrumental in supporting the growth and development of Seiyu since KKR and Rakuten initially invested in the company in 2021. The partnership has focused on various initiatives to enhance Seiyu’s offerings to customers. These initiatives include the implementation of cashless payment methods such as Rakuten…
Vinamilk, Vietnam’s leading dairy brand, has announced its plans to participate in several trade promotion events, including the Japan Foodex Fair, FHA Singapore Fair, and International SME Fair in Guangzhou, China, following its successful participation in Gulfood Dubai 2023. The company aims to seek new export opportunities and develop new sales channels in existing ones. Despite economic uncertainty, Vinamilk has shown its determination to expand its global reach by actively seeking new export markets. The company has secured a total value of $100 million for its six-month export plan, with 85% coming from the Middle Eastern region, where Vinamilk has…
Globe Stores and Easy Hubs across the country are ready to provide assistance to customers who may need help in registering their SIMs as the April 26, 2023 deadline approaches. Cleo Santos, Head of Globe Channel Marketing Group, said 147 Globe stores and 25 Easy Hubs in various locations around the country are open to mobile and broadband customers who would need help to have their SIMs registered in compliance with the SIM Registration Act. “We are pleased to see a steady increase in registered subscribers. However, we understand that some of our customers may still need assistance. So in…