Home Blog Page 36

Liangshan, China: 300,000 People Celebrate a Torch Carnival Night

By
Advertorial Desk
-

XICHANG, CHINA – Media OutReach Newswire – 11 August 2026 – At 8 p.m. local time on August 8, along the eastern extension of Hangtian Avenue in Xichang City, Liangshan Yi Autonomous Prefecture, China, 86 bonfires were lit, and tens of thousands of torches were raised in unison, turning the 3.2-kilometer-long street instantly into an ocean of joy. The lively Yi ethnic music set the 300,000-strong crowd ablaze with excitement at the scene, as people of all ages joined hands, performed traditional Yi folk dances around the bonfires, and revelled in the fiery carnival.

Performances at the Torch Carnival Night
Performances at the Torch Carnival Night

That night’s carnival was the centerpiece of the 2026 Liangshan Yi Torch Festival and marked the climax of the entire celebration. This year’s edition featured 98 distinctive cultural tourism events held simultaneously across all 17 counties and cities of Liangshan, creating a spectacular midsummer celebration.

Yi Ethnic Costume Fashion Show at the Torch Festival
Yi Ethnic Costume Fashion Show at the Torch Festival

On July 19, Puge County, serving as the “first stop” of the 2026 Liangshan Yi Torch Festival’s cultural tourism program, presented the traditional fire-lighting ceremony in its entirety alongside folk performances that offered visitors an authentic glimpse into the rich heritage of Yi culture. The celebrations then continued in Butuo County, Yuexi County, Huidong County, Huili City, and Dechang County, among others, featuring traditional costume showcases, intangible cultural heritage workshops, Yi ethnic music days, and other cultural tourism activities. The events will run through the end of August.

Liangshan Prefecture is home to the largest Yi ethnic community in China. Among the many traditional festivals of the Yi people, the Torch Festival stands out as the grandest, richest, and most vibrant celebration, drawing the largest crowds and showcasing the most distinctive Yi traditions.

During the height of summer, Liangshan enjoys a pleasant temperature averaging around 20°C. The prefecture is home to 20 ICH items at the national level and boasts 81 officially rated tourist attractions, including Qionghai Lake–Lushan Mountain, Lugu Lake, and Luoji Mountain. Here, breathtaking natural landscapes blend harmoniously with the profound cultural heritage of the Yi people. During the 2026 Spring Festival, May Day, and Dragon Boat Festival holidays, Liangshan recorded a year-on-year growth of over 10% in both tourist arrivals and total tourism consumption.

Hashtag: #LiangshanYiTorchFestival #TorchFestival #Liangshan

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

Payment delays continue to strain UAE businesses as trade credit expands

By
Advertorial Desk
-

DUBAI, UAE – Media OutReach Newswire – 11 August 2026 – Trade credit remains essential for driving growth and strengthening customer relationships in the UAE. However, the latest Atradius Payment Practices Barometer reveals that persistent payment delays and rising default concerns are putting increasing pressure on liquidity and cash flow management.

UAE businesses are leaning more heavily on trade credit to stay competitive. Nearly half of respondents report extending more credit in recent months, with credit sales now making up an average of 47% of B2B transactions. While greater payment flexibility supports sales and relationships, it also heightens payment risk.

Payment performance remains challenging. Around two in five B2B invoices are paid late, and substantially more businesses report a deterioration in payment behaviour than an improvement. Industrial and construction sectors are the most affected, due to the longer and more complex payment cycles typical of these industries.

Customer cash flow constraints are the leading cause of delays (49%), followed by banking processes, internal approvals, and goods or services not being delivered as agreed. As a result, 47% of companies face higher financing needs, 46% report reduced liquidity headroom, and 38% struggle with cash flow planning. Concerns are also growing that overdue receivables will turn into bad debt.

Looking ahead, customer default risk remains a major concern. Nearly half (46%) of respondents expect default risk to rise further, while 39% anticipate it will stay elevated. This cautious outlook highlights the need for continued vigilance.

“Trade credit continues to play a vital role in supporting business growth across the UAE, but companies are having to balance expanding trade opportunities with a more challenging payment environment,” said Roeland Punt, CEO of Atradius Middle East. “Payment delays remain widespread and concerns about customer default are increasing, placing greater pressure on liquidity and cash flow planning. As a result, many businesses are strengthening their approach to credit risk management, combining closer customer monitoring with measures that help safeguard cash flow and support resilience.”

To address these pressures, companies are stepping up credit controls and increasing their use of risk mitigation tools. This includes more rigorous customer assessments, close monitoring of payment behaviour, stronger collections processes, and the use of credit insurance. Credit insurance is particularly common among larger industrial businesses.

Businesses are also mindful of broader macroeconomic risks. Slower economic growth, inflation, cost pressures, and rising interest rates are expected to continue influencing B2B payment behaviour. Despite these headwinds, profitability expectations remain resilient, with a strong majority of businesses reporting rising profit margins even amid ongoing payment risks and elevated credit pressures.

Atradius conducted the annual survey during the second half of Q2 2026. Results should be interpreted with this timing in mind, as market conditions may have evolved. Responses were gathered from businesses across the UAE across the industrial, construction, trade, and services sectors.

Hashtag: #Atradius #CreditInsurance #B2BPayment #CreditRisk #NonPayment #BadDebt


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

About Atradius

Atradius is a global provider of credit insurance, surety, collections and information services, with a strategic presence in over 50 countries. The products offered by Atradius protect companies around the world against the default risks associated with selling goods and services on credit. Atradius is a member of GCO, one of the leading companies in the Spanish insurance sector and one of the largest credit insurers in the world. You can find more information online at

Seven-Year-Old Becomes Laos’ Youngest Internationally Rated Chess Player

By
Phoudasack Vongsay
-
A picture of Bounthiengtham “Jayson” Sengphachan during the youth tournament in Australia. (Photo by Vientiane Chess Academy)

Seven-year-old Bounthiengtham “Jayson” Sengphachan has already done something no Lao chess player his age has done before.

A picture of Jayson’s rating in FIDE International Chess Federation.

The young player from Vientiane Chess Academy recently became the youngest Lao player to receive an official FIDE Rapid rating, a ranking based on performance in faster-paced chess games, scoring 1503 after a series of strong performances in youth tournaments in Australia.

Now, Jayson is in Singapore representing Laos at the 24th ASEAN+ Age Group Chess Championships, which runs from 7 to 17 August.

His latest run of tournaments came during the school holidays. In Sydney, he picked up Best U8 honors at tournaments in Epping and Pymble, as well as a second-place finish in another competition.

“A rating jump like that doesn’t happen by accident,” said his coach, Robert Suelo Jr. “It reflects the hours he’s put in studying, the discipline of showing up to classes consistently, and how well he applies pattern recognition under real tournament pressure.”

Laos Youth Chess team at Wattay airport heading to Singapore for the 24th ASEAN+ Age Group Chess Championships

Suelo, a Philippine National Master and FIDE Instructor, has been coaching in Laos since 2023. He said the 1503 rating is only part of what makes Jayson stand out.

“For me, the rating number is really just a marker of something deeper,” he said. “What excites me about Jayson is that you can see his own personality coming through in how he plays. That’s what strong chess is really about, not just memorizing lines, but developing your own way of seeing the board.”

Jayson has developed a particularly sharp eye for patterns on the board.

“It’s how he finds chances other players might miss,” Suelo said. “We don’t want this to be the end. Our goal is to develop quality players for the Lao national team and one day help them compete in Asia and on the international stage.”

More than a game

Suelo also sees chess as something that can bring people together, regardless of age or background.

And while ratings and tournament results matter, Suelo hopes people watching the young Lao players in Singapore will pay attention to the players’ personalities beyong their playing abillities.

For now, Jayson is still only seven. But he has already earned an international rating, competed abroad and taken his place among Laos’ young chess players on the regional stage.

But Jayson is not the only young player in the family.

A picture of William’s chess rating in all three major formats.
A picture of Bounthengnoy “William” Sengphachan.

His older brother, Bounthengnoy “William” Sengphachan, is FIDE-rated in all three major formats, Standard, Rapid and Blitz, and is currently ranked among Laos’ top active players. He is also competing in Singapore.

William earned all three ratings in just over a year of learning and playing chess. During the family’s school holidays in Australia, he competed in several Sydney tournaments, winning Champion titles, a Best U12 award and other trophies.

The two brothers are part of a growing group of young Lao players getting more opportunities to train, compete and play against stronger opponents outside the country.

Cambodia, Vietnam, Belarus, Others Mourn Death of Lao NA President Xaysomphone

By
Thongsavanh Souvannasane
-
Lao National Assembly President Xaysomphone Phomvihane, who died on 8 August 2026 in Vientiane, Laos. (Photo: Lao National Assembly).

Foreign leaders and diplomatic missions are paying tribute to Xaysomphone Phomvihane, President of the Lao National Assembly (NA) who died on 8 August at age 69.

In Laos itself, the Department of Culture and Tourism of Vientiane Capital ordered entertainment venues and karaoke bars in the capital to close temporarily five days from 8 to 12 August, to cooperate in paying tribute to Xasomphone’s passing.

Cambodian NA President Khuon Sudary opened the wave of condolences, sending a letter on 10 August to Sounthone Xayyachak, Laos’ NA Vice-President in which she called Xaysomphone’s death a profound loss and expressed deep sadness on learning of his passing. 

She praised his leadership, wisdom and lifelong dedication to public service, noting his contribution to national development and modernisation in Laos. Khuon also highlighted his role in strengthening Cambodia-Laos relations, saying his efforts had deepened inter-parliamentary cooperation between the two countries and that Cambodia would always remember his contribution with respect and gratitude.

Vietnam followed with a formal show of national mourning, declaring two days of observance on 10 and 11 August. During that period, offices and agencies nationwide, along with Vietnamese missions abroad, flew flags at half-mast and suspended public entertainment activities. 

Also, Vietnamese Party, State, National Assembly and Government delegations visited the Lao Embassy in Hanoi to sign a condolence book, while Vietnam’s NA observed a minute of silence before opening its first extraordinary session. NA Chairman Tran Thanh Man also travelled to Vientiane to lay a wreath in person.

Belarus extended its own condolences soon after, with President Aleksandr Lukashenko writing to Lao President Thongloun Sisoulith to describe Xaysonophone as a devoted son of Laos who dedicated his life to serving his homeland. 

Lukashenko said Belarus shared the Lao people’s grief over an irreplaceable loss and pledged that Belarusians would always remember Xaysomphone’s contribution to strengthening bilateral relations and inter-parliamentary cooperation, while also extending support to his family and colleagues

Thailand added its voice through its Thai Embassy in Vientiane, which sent condolences over Xaysomphone’s passing.

The United States joined the tributes as well, with its embassy in Vientiane extending condolences to Xaysomphone’s family, friends and the people of Laos as the country entered a period of mourning.

The United Nations in Laos also sent its condolences, reaching out to Xaysomphone’s family, the government and the Lao people, and pledged to hold his contributions and years of service in high regard.

The European Union in Laos echoed that message, offering sympathy to the Phomvihane family, the NA and the Lao people, and said it would look back on his years of dedication to the country with deep respect.

Further afield, the Lao Embassy in China’s Beijing marked the loss with a memorial ceremony on 10 August, led by Ambassador Somphone Silachaleun and attended by embassy staff, Lao workers and Lao students living in China. 

Xaysomphone was born in December 1956, the eldest of four sons of Kaysone Phomvihane, Laos’ first prime minister and a central figure in the country’s revolutionary era, who led the transformation of Laos into the Lao People’s Democratic Republic in 1975.

His younger brothers are Thongsavanh, Sanyahak and Santiphab. 

Xaysomphone led the Lao Front for National Construction from 2016 before returning to the NA, where he served as president from 2021 until his death, winning re-election in March 2026.

VinSpace Announces Launch Contract with SpaceX, Marking a New Milestone for Vietnam’s Space Industry

By
Advertorial Desk
-

HANOI, VIETNAM – Media OutReach Newswire – 11 August 2026 – VinSpace Joint Stock Company (“VinSpace”) announced the signing of a launch contract with U.S.-basedSpaceX. The agreement marks a significant milestone in VinSpace’s roadmap to build comprehensive aerospace capabilities, advancing its mission to foster the development of Vietnam’s space industry.

VinSpace's satellites will launch aboard a Transporter rideshare mission in 2027 as part of SpaceX's rideshare program.
VinSpace’s satellites will launch aboard a Transporter rideshare mission in 2027 as part of SpaceX’s rideshare program.

Under the agreement, VinSpace’s satellites will launch aboard a Transporter rideshare mission in 2027 as part of SpaceX’s rideshare program, which enables multiple customers to share a single launch. VinSpace is responsible for the research, development, manufacturing and on-orbit operation of its satellites. The satellites will support the on-orbit demonstration of in-house developed technologies, strengthen VinSpace’s satellite engineering capabilities, and pave the way for future commercial space applications.

The agreement provides an important foundation for VinSpace’s first satellite missions. In April 2026, the company announced its plan to develop and launch its first satellites into orbit in 2027.

The agreement represents another important step in VinSpace’s long-term vision to become a full-stack aerospace company, developing capabilities across the entire space value chain – from satellite design and manufacturing to Assembly, Integration and Testing (AIT), launch mission management, satellite operations, and downstream space data products and services.

Selecting SpaceX as its launch service provider reflects VinSpace’s strategy of working with the world’s leading technology companies to realise its first space missions.

Mr. Thu Vu, Chief Executive Officer of VinSpace, shared that:“Reliable access to space is fundamental to turning satellite innovation into operational missions. This contract with SpaceX is an important milestone in VinSpace’s long-term strategy to help build Vietnam’s space ecosystem and strengthen the country’s position within the global space economy.”

VinSpace’s upcoming satellite missions are expected to provide an important platform for in-orbit technology validation, accelerate the development of Vietnam’s aerospace talent, deepen international collaboration, and support the commercialisation of space technologies. As satellites, low Earth orbit (LEO) constellations and other space technologies become increasingly important to economic growth, infrastructure resilience and national technological competitiveness, VinSpace is committed to strengthening Vietnam’s sovereign space capabilities while delivering commercially sustainable solutions for customers across Vietnam, Southeast Asia and international markets.

Hashtag: #VinSpace

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

About VinSpace

VinSpace, a member of the Vingroup ecosystem, is building towards becoming Vietnam’s leading full-stack aerospace company. Our ambition is to develop capabilities across the entire space value chain, from satellite systems and ground infrastructure to geospatial intelligence, satellite connectivity and downstream applications.

Through strategic partnerships with leading global technology providers, alongside long-term investment in research, development and commercialisation, VinSpace delivers space-enabled solutions for infrastructure, energy, environmental management, logistics and smart cities.

Vield Announces Strategic Cyber Security Partnership with Revio to Bolster Defence-in-Depth Infrastructure

By
Advertorial Desk
-

SYDNEY, Aug. 11, 2026 /PRNewswire/ — To address the growing need for institutional-grade security and independent oversight in the digital asset sector, Vield, an Australian Bitcoin-backed finance company, today announced a strategic partnership with Revio Cyber Security. Through this collaboration, Revio will serve as Vield’s dedicated cyber security partner, providing independent security oversight to further deepen the company’s defensive posture.

As clients increasingly seek secure avenues for Bitcoin-collateralised credit and safekeeping, navigating the complexities of digital asset security requires a rigorous, multi-layered approach. Revio addresses this critical need by helping senior business leaders implement a risk-based cyber security strategy that spans people, roles, processes, and technology. This partnership directly extends Vield’s security infrastructure across the core pillars central to its brand: Safety, Security, and Transparency.

Revio joins Vield’s existing security relationships, namely institutional custody provided by Zodia Custody and security audit work by Hashlock. Together, these integrations reinforce Vield’s layered, defence-in-depth approach to protecting client assets and infrastructure.

“For a Bitcoin-backed lender, robust cyber security leadership is not just an operational requirement; it is the foundation of client trust,” said Johnny Phan, CEO of Vield. “By integrating Revio’s independent oversight into our ecosystem, we are actively reinforcing our core pillars of Safety, Security, and Transparency, ensuring our clients’ assets are protected by a comprehensive, defence-in-depth strategy.”

John Baird, Founder and CEO of Revio, added: “Taking a comprehensive, risk-based approach to cyber security is critical in the digital finance space. Drawing on my background in banking technology and cyber governance, our focus is to provide Vield with rigorous, independent oversight that strengthens their defensive posture and supports their commitment to safeguarding client assets.”

For more information about Vield’s Bitcoin-backed financial products and security infrastructure, visit [vield.io]. To learn more about Revio’s cybersecurity consulting services, visit [revio.tech].

About Vield

Vield is an Australian Bitcoin-backed finance company offering Bitcoin-collateralised credit and safekeeping products. It is an AUSTRAC-registered digital currency exchange provider (Vield Pty Ltd). This partnership with Revio extends Vield’s security infrastructure across the “Safety, Security, and Transparency” pillars central to its brand.

About Revio

Revio (Revio Cyber Security) is an independent cyber security consulting specialising in readiness, response and recovery. Revio helps senior business leaders take a risk-based approach to their organisation’s cyber security, spanning people, roles and responsibilities, process and technology when building a security strategy. Its founder and CEO, John Baird, is a former Chief Technology Officer for Asia/Pacific at Deutsche Bank, former Chairman of the NSW Government Cyber Security Advisory Council, and an Adjunct Fellow at Macquarie University.

LX Pantos Strengthens Global ESG Leadership Through Its 2026 Sustainability Report

By
Advertorial Desk
-
  • Completes calculation and third-party verification of Scope 1 and 2 GHG emissions across Korea and key overseas operations
  • Expands ESG disclosures to cover human rights, safety, working conditions, and training for global employees

SEOUL, South Korea, Aug. 11, 2026 /PRNewswire/ — LX Pantos (President & CEO: Lee Yong-ho) has released its 2026 Sustainability Report, highlighting progress in advancing ESG management across its domestic and global operations.

LX Pantos recently released its 2026 Sustainability Report.
LX Pantos recently released its 2026 Sustainability Report.

The report covers nine material ESG issues identified through a double materiality assessment, including climate change adaptation and mitigation, energy, eco-friendly logistics services, customer value management, human resources management, information security, risk management, business conduct, and new growth engines and business diversification.

A key highlight of this year’s report is the expanded reporting scope, which now includes global worksites. The expansion reflects LX Pantos’s strong international footprint and the growing scale of its overseas operations.

On the environmental front, the company calculated Scope 1 direct greenhouse gas emissions and Scope 2 indirect greenhouse gas emissions from its domestic operations and key overseas sites. Third-party verification further strengthened the reliability of its environmental disclosures.

In the social area, LX Pantos collected and analyzed employee data from nine subsidiaries in Europe, covering human rights and labor, occupational health and safety, working conditions, education, and career development.

In governance, the report highlights progress in Jeong-do Management, the company’s ethics- and compliance-based management philosophy. LX Pantos recorded zero significant legal violations related to anti-corruption and fair trade rules and achieved a 100% completion rate for Jeong-do Management training in 2025.

The report was prepared in accordance with the GRI Standards 2021 and references global ESG frameworks including SASB, the UN SDGs, the UNGC, and the TCFD. An independent third-party assurance agency verified the report for accuracy and reliability.

In 2025, LX Pantos also earned a Bronze rating from EcoVadis, a B rating from the Carbon Disclosure Project (CDP), LEED Gold certification for the MegaWise Cheongna Center, and an A+ rating under the Regional Social Contribution Recognition System administered by the Korean Ministry of Health and Welfare.

Commenting on the release of this report, Lee Yong-ho, President & CEO of LX Pantos said, “LX Pantos is further advancing its sustainability management by expanding the scope of ESG management beyond Korea to our overseas operations. Under our ESG vision, ‘Value Deliverer for People and the Planet,’ we will continue to communicate with stakeholders in a transparent manner.”

■ About LX Pantos
Established in 1977, LX Pantos is a leading global logistics provider headquartered in Korea. It delivers comprehensive logistics solutions across sea, air, rail, and contract logistics through a worldwide network spanning more than 40 countries.
Learn more about LX Pantos online and follow it on LinkedIn.

GreenCore Solutions Corp. (GSC) Appoints Former Walmart Director Julia Turley to Board of Directors

By
Advertorial Desk
-

US$2 billion annual P&L buyer expertise, now paired with the sustainability edge of GSC’s AI Agents for Beauty & Personal Care (BPC) with the CPG Knowledge Graph

VANCOUVER, BC and SYDNEY, Aug. 11, 2026 /PRNewswire/ — GreenCore Solutions Corp. (“GSC” or the “Company”), AI Agents that sell Consumer Packaged Goods (CPG) and Beauty & Personal Care (BPC) brands into retail grocery procurement, today announced the appointment of Julia Turley to its Board of Directors.

Across the world’s ten largest retailers, only a handful of executives at any time hold a Beauty & Personal Care buying P&L at the director level. Turley held one — at the largest of them all — for years. She spent more than 20 years at Walmart U.S. — Bentonville, Arkansas, inside a retailer with fiscal 2026 global revenues of US$713 billion — in Beauty & Personal Care buying and merchandising leadership, most recently as Director of Merchandising — Beauty, running a US$2 billion P&L. She made the decision GSC’s AI Agents are built for: what gets bought.

Only a handful of executives across the world’s largest retailers hold Beauty & Personal Care buying expertise at the level Turley brings — more than 20 years at Walmart U.S. (fiscal 2026 revenues US$713 billion), most recently as Director of Merchandising — Beauty, running a US$2 billion P&L. She now pairs that expertise with the fastest-scaling AI Agent procurement platform in CPG — GSC’s AI Agents and the CPG Knowledge Graph, carrying brands into retail procurement at 11.5 million+ transactions a month. Her buyer judgment lands on an AI Agent stack already engineered for the buy side — deterministic, procurement-ready, and sustainable by design, resolving answers once instead of burning compute guessing.

“Everyone wins. GSC’s makers get AI Agents built against real buyer judgment. Retail buyers get a sell side engineered for their gates — deterministic, procurement-ready, and sustainable by design, resolving answers once instead of burning compute guessing. And the GSC board gains a leader and a mentor — two decades of building winning categories and developing top merchant talent, now guiding the company that sells to the desk she ran. GSC is the first AI Agent company in CPG to appoint a Walmart U.S. merchandising leader to its Board of Directors,” said Matthew Keddy, CEO, GreenCore Solutions Corp.

“For more than 20 years at Walmart, I evaluated brands through the lens of the customer, the category and the business—what earns distribution, what creates incremental growth and what ultimately deserves space on the shelf. AI is changing how brands and retailers find, evaluate and transact with one another, but strong retail decisions still require sound merchant judgment. I’m excited to bring that perspective to GSC as it builds technology designed around how retailers actually buy,” said Julia Turley.

GSC supplies AI Agents to CPG makers, mounting a maker’s SKUs onto GSC AI Agent infrastructure so those products become machine-discoverable, machine-orderable and procurement-ready for retailer, ERP and AI procurement systems. The Company’s architecture combines its proprietary CPG Knowledge Graph powered by SPARKS with deterministic classification, sovereign resolution and commerce execution infrastructure — with a human in the loop on every purchase order.

About Julia Turley
Julia Turley is Founder of JT Retail Solutions LLC (Bentonville, Arkansas) and an Independent Director of GreenCore Solutions Corp. A retail and CPG executive with more than 20 years of experience at Walmart U.S., Turley has led merchandising, category strategy, assortment and supplier partnerships across major consumer categories. Most recently, she served as Director of Merchandising — Beauty, with responsibility for a US$2 billion business. Today, through JT Retail Solutions, she brings that merchant perspective to companies with AI orderability seeking to better understand retail strategy, consumer and category opportunities, product commercialization and scalable retail growth.

About GreenCore Solutions Corp. (GSC)
GreenCore Solutions Corp. (GSC) builds AI Agents that sell Beauty & Personal Care (BPC) brands into retail grocery procurement, powered by the CPG Knowledge Graph with SPARKS and delivered on MCP + A2A + ACM-68000. GSC carries 11.5 million+ inbound AI Agent transactions a month — 4.2 every second — across the CPG Knowledge Graph’s 2 billion datapoints spanning 38,350 BPC brands, 15,688 retail grocery banners and 3.29 million points of sale in 50 global markets. GSC AI Agents run sustainable, transact safe, human in the loop, and live on Microsoft Azure and Google Cloud. GSC is a Microsoft AI Cloud Partner — Crunchbase Global Rank #151 of 5 million companies. D-U-N-S 24-336-6774.

About GSC Agentic Pty. Ltd.
GSC Agentic Pty. Ltd., headquartered in Sydney, Australia, is the Asia-Pacific joint venture delivering the GSC AI Agent Stack across APAC markets.

1...353637...6,440Page 36 of 6,440