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Yuexiu Transport proposes to acquire 55% equity interests in Henan Yuexiu Pinglin Expressway Company

Further enhance the Company’s earnings per share and maintain long-term financial stability


HONG KONG SAR – Media OutReach Newswire – 9 October 2024 – Yuexiu Transport Infrastructure Limited (“Yuexiu Transport” or the “Company”; stock code: 01052.HK) announced today that a wholly-owned subsidiary of the Company has entered into an agreement to acquire 55% equity interests in the target company which holds the toll collection rights of Henan Yuexiu Pinglin Expressway Company Limited (the “Target Company”) from Guangzhou Yue Xiu Holdings Limited (“Yue Xiu Group”), the controlling shareholder of the Company, for a total cash consideration of approximately RMB758.45 million. The acquisition is subject to approval by independent shareholders.

The Henan Pinglin Expressway, located in the core development area of the Zhongyuan city cluster, has a toll mileage of 106.45 km. It is an important component of the G36 Nanjing-Luoyang Expressway, one of the 18 east-west trunk lines of the national “71118” expressway network, and also one of the main logistics roads connecting the northwestern China and coastal region in southeastern China. The expressway has been in operation for over 18 years since it commenced operation in 2006, with a mature and stable surrounding expressway network.

Given its geographical advantage, Yuexiu Transport believes that the Henan Pinglin Expressway will continue to benefit from the national “Rise of Central China” regional development plan. The Company is optimistic about the long-term economic development in Central China, and the acquisition of the Henan Pinglin Expressway aligns with the Company’s strategy to expand its business footprint in the region and will help the Company further seize opportunities from the “Rise of Central China” plan. Additionally, as the Henan Pinglin Expressway is near the Weixu Expressway and the Lanwei Expressway, which are operated by the Company, a unified operation and management and a district management model would enable to achieve economies of scale and enhance management efficiency.

The Target Company is in good financial position and recorded a profit of RMB119.12 million in the first year after obtaining the toll collection rights of the Henan Pinglin Expressway in February 2023. For the seven months ended 31 July 2024, the Target Company’s revenue was RMB303.52 million and after-tax profit was RMB80.40 million. Upon completion of the acquisition, the Henan Pinglin Expressway is expected to bring enhanced cash flow and profits to the Yuexiu Transport, add momentum to the growth of the Company’s toll revenue and profit, and increase the Company’s earnings per share.

Yuexiu Transport believes that the acquisition of the Henan Pinglin Expressway aligns with the Company’s investment and development strategy of “focusing on the Guangdong-Hong Kong-Macao Greater Bay Area and Central China”. Meanwhile, the Henan Pinglin Expressway will create economies of scale with the Weixu Expressway and the Lanwei Expressway in Central China, directly contributing to the Company’s toll revenue and profit, expanding the Company’s operating scale and enhancing its sustainable development capabilities.

Looking ahead, Yuexiu Transport will continue to refine its integrated business strategy of “investment, financing, operation, and divestment”. By establishing an incubation platform to secure quality assets and leveraging the domestic infrastructure REITs platform, the Company aims to dynamically adjust and continuously optimize its asset portfolio through the synergistic interaction between the incubation platform, infrastructure REITs platform and listed company platform, and strives to create greater value for shareholders.

Hashtag: #YuexiuTransport

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

Grand Finale of BIGO’S Most Talented Showcases Best of Global Livestreamers

BIGO’S Most Talented redefines talent shows by utilizing engagement-driven judging, featuring celebrity judges Aubrey O’Day, Lyrica Anderson and Perez Hilton


LOS ANGELES, USA – Media OutReach Newswire – 9 October 2024 – Livestreaming platform Bigo Live brings Season 3 of its talent show, BIGO’s Most Talented, to its thrilling conclusion, with the grand finale set for October 16 in Los Angeles. This innovative virtual talent shows merges the competitive spirit of traditional reality TV with the immediacy and interactivity of live streaming by using engagement as a criteria, unique from other competitions in the market. BIGO’s Most Talented brings together creators from regions across the Americas, Europe, Africa, Oceania, and Southeast Asia.

Grand Finale of BIGO’S Most Talented
Grand Finale of BIGO’S Most Talented

  • The competition spans categories including Music, Dance, Beauty, and Special Talent, and will feature a panel of celebrity judges such as media personality Perez Hilton, singer and reality television personality Aubrey O’Day, and singer-songwriter Lyrica Anderson. Notable creators from the US and Canada –include ‘SmileyOfficial’ and ‘MJ.Meredores’ in Beauty, ‘DancerBoo2’ and ‘MrFinnesin’ in Dance, ‘NinjaJannine’ and ‘RoyalRoyce’ in Music.

“I’m thrilled to be part of BIGO’s Most Talented and witness firsthand the incredible creativity and passion of creators worldwide,” said Aubrey O’Day. “This competition unifies creators and allows them to connect with and reach audiences they otherwise wouldn’t be able to connect with. I can’t wait to see who will rise to the top this season.”

Engagement-Driven Judging

Livestreaming is one of the most engaging types of content on social media, with 37% of consumers finding it the most captivating (Sprout Social). What sets Season 3 of BIGO’s Most Talented apart from other competitions is its innovative judging metric. Unlike traditional formats, this competition leverages engagement metric as a central criterion for evaluation. Contestants will not only be judged by the celebrity panel, but by users at home, who will have opportunities to vote on their favorite performance in-app by purchasing virtual gifts via the Voting Box on the livestream.

Participants are thus assessed not only on their talent but also on their ability to captivate and connect with their live audience, allowing audiences to participate in the show’s outcome. By driving real-time community engagement, livestream watch hours, and gifts received, contestants have an opportunity to interact directly with the audience, boosting their chances of securing a top spot in the finale.

“At Bigo Live, we strive to continually enhance our user experience,” said Eric Kim, North America’s Senior Operations Director. “Season 3 of BIGO’s Most Talented exemplifies this commitment by integrating audience participation – a key component of livestreaming – into our search for BIGO’s Most Talented creator. We are thrilled to be creating a talent show that is unique as the livestreaming experience. It is inspiring to see how this approach highlights the performers’ skills and celebrates their ability to connect with viewers.”

Bigo Live serves as a monetization launch pad for creators across the globe, amplifying and connecting diverse voices with worldwide audiences. The platform’s commitment to positive social impact is evident in its support of communities including LGBTQ+, African Americans, Hispanic and Latinos and the everyday emerging individual creators who deserve celebration and the spotlight.

In fueling the creator economy, Bigo Live empowers creators to succeed on a global scale. Season 3 of BIGO’s Most Talented not only showcases individual talents but also highlights the far-reaching influence of Bigo Live’s robust community, with participants spanning the US, Canada, the UK, Australia, New Zealand, Nigeria and more.

Tune In to the Grand Finale: How to Experience and Vote Live

The Grand Final of Season 3 of BIGO’s Most Talented will broadcast live on Bigo Live’s USA and Global accounts. The top contestants will showcase their talents before the panel of celebrity judges and a specially selected studio audience. To join the excitement and watch the performances live, download the Bigo Live app from the App Store or Google Play or Microsoft App Store and tune in to the livestream.

The Season 3 winner will be awarded Cash Considerations and Virtual Currency, along with the Ultra Streaming Gift Box, which includes streaming-forward equipment like the latest iPhone 16, AirPods Pro Max, a streaming mic, and a BIGO Ring Light. All top 10 contestants will receive trophies, limited edition merchandise, and substantial in-app cash rewards.
Hashtag: #bigo




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

About Bigo Live

Bigo Live is one of the world’s fastest-growing social livestreaming platforms where users broadcast in real-time to share life moments, showcase their talents, and interact with people from around the world. Bigo Live has more than 400 million users in over 150 countries. Launched in March 2016, Bigo Live is owned by BIGO Technology, which is based in Singapore. For more information, the BIGO LIVE app can be downloaded on the Apple App Store or Google Play or Microsoft App Store.

“Waves of Wonder” – Taiwan Showcases Year-Round Charm in Paris


TAIPEI, TAIWAN – Media OutReach Newswire – 9 October 2024 – To strengthen Taiwan’s tourism brand in the European market, the Tourism Administration of the Ministry of Transportation and Communications (MOTC) is hosting a special exhibition in Paris, the global capital of art. Held in the wake of a similar exhibition in London during September, the all-new TAIWAN – Waves of Wonder: Journey through Taiwan’s Four Seasons special exhibition has moved to Paris, where it is being held for a 5-day period from October 9 to 13. During the exhibition, Taiwan’s enchanting four seasons are being shown at the famous Espace Thorigny – Le Marais, allowing the French to take an immersive journey to romantic Taiwan.

Hsieh Chang-ming, the director of the Tourism Administration's local office, representative Hao Pei-chih from the Taipei Representative Office in France, General Manager Howard Lu of Eva Airways Corp. French Branch, and Key Account Manager Sylvie Houles of China Airlines Passenger Sales Office France jointly attended the opening cocktail party.
Hsieh Chang-ming, the director of the Tourism Administration’s local office, representative Hao Pei-chih from the Taipei Representative Office in France, General Manager Howard Lu of Eva Airways Corp. French Branch, and Key Account Manager Sylvie Houles of China Airlines Passenger Sales Office France jointly attended the opening cocktail party.

The current TAIWAN – Waves of Wonder: Journey through Taiwan’s Four Seasons exhibition uses immersive display methods to create a “four seasons exhibition,” and employs graphic images, video, and sound effects to present Taiwan’s attractions during all four seasons. Viewers can start by seeing Taiwan’s spectacular Lantern Festival and the stunning pyrotechnics of Yanshui’s “Beehive Fireworks” in the spring video room; the summer area lets visitors see how Taiwan’s street foods are made via ASMR and appreciate the appeal of Taiwan’s cuisine. The immersive audiovisual projection theater in the fall area shows the beautiful panorama along Taiwan’s railways and bicycle paths. Apart from these features, the event also provides a chance to sample Taiwan’s teas and includes a workshop for making festive lanterns. This event is drawing throngs of Parisian visitors.

At the event’s October 8 opening night, Hsieh Chang-ming, the director of the Tourism Administration’s local office, representative Hao Pei-chih from the Taipei Representative Office in France, General Manager Howard Lu of Eva Airways Corp. French Branch, and Key Account Manager Sylvie Houles of China Airlines Passenger Sales Office France jointly attended the opening cocktail party and ribbon-cutting ceremony. According to Director Hsieh Chang-ming, the Taiwan Tourism Information Center (TTIC) was established on April 30, 2024, and is the first information center of its kind in Europe. TTIC is an important link in Taiwan’s campaign to open overseas markets. Data indicates that the number of visitors to Taiwan from France has been increasing significantly, and the mainstay 20-50 year-old French visitors are particularly fond of the cultural experience of travel. This immersive exhibition will show these travelers Taiwan’s various tourist activities and experiences, and we hope it will let French travelers see Taiwan from an all-new perspective.

Visitors enjoyed the Taiwan exhibits on site.
Visitors enjoyed the Taiwan exhibits on site.

Representative Hao Pei-chih from the Taipei Representative Office in France noted that promoting Taiwan’s travel charms can encourage cooperation and interchange between Taiwan and France. Furthermore, in the wake of the Cultural Olympiad, it is hoped that bringing Taiwan’s brand-new tourism brand to France, and giving the French a chance to appreciate Taiwan’s hospitality and appeal, will deepen future interaction between Taiwan and France, will give the French a better understanding of Taiwan, and encourage them to visit Taiwan.

Pleasant surprises abounded on the first day. One of these was the joint Eastern-Western performance of the pieces Red in All Four Seasons, Peach Blossom Takes the Ferry, and Malan Girl by French cellist Karsten Hochapfel and music festival staple and French resident Wang Yaping on the yangqin (hammered dulcimer). These pieces were highly evocative of Taiwan’s moods and landscape, and received thunderous applause from listeners. Michelin star chef Sean Kao was invited to offer up some exquisite Taiwan-style cuisine, which included Taiwanese braised dishes, Kaohsiung-style mullet roe, and Nantou-style cherry tomatoes with smoked plums. These dishes were accompanied by Taiwanese oolong tea cocktail, uniquely flavorful Taiwan whiskey, and globally-famous bubble tea. These delightful experiences ensured that all visitors experienced the visual, auditory, and gustatory beauty of Taiwan’s four seasons.

According to the Tourism Administration, this special exhibition is an all-new experiment in promoting tourism overseas, and it will extend the exhibition period to meet the needs of people who can only visit on weekends or weekdays. The gallery is close to the Centre Pompidou, and its location enabled the event to attract visitors from all over the world, so as to induce many more travelers to visit Taiwan.

Event information
TAIWAN – Waves of Wonder: Journey through Taiwan’s Four Seasons, Paris special exhibition
Date: October 9 – October 13, 2024
Location: Espace Thorigny – Le Marais (4 Pl. de Thorigny, 75003 Paris)
Time: 10:00 – 19:00

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

Celebrating the China-ASEAN Year of Cultural Exchange, A Special Documentary Series “Dialogue with ASEAN” will premiere in October


SHANGHAI, CHINA – Media OutReach Newswire – 9 October 2024 – The documentary series “Dialogue with ASEAN” is set against the backdrop of the United Nations’ 2030 Sustainable Development Agenda and the “Belt and Road Initiative.” Through real-life cases and compelling personal stories, it showcases the successful outcomes of connectivity, cooperation, and mutual exchanges between China and ASEAN countries across five key areas: society, economy, ecology, technology, and humanities.

Celebrating the China-ASEAN Year of Cultural Exchange, A Special Documentary Series

The upcoming special program of “Dialogue with ASEAN” (one episode, 45 minutes) features five stories across key areas of cooperation. The production team traveled to five ASEAN countries—Cambodia, Malaysia, Laos, Myanmar, and Thailand—to conduct interviews and filming, focusing on topics of mutual interest between China and ASEAN. The episode highlights the friendly collaboration between both sides through visually striking footage and compelling narratives, offering a powerful portrayal of their shared achievements and partnership.

https://www.youtube.com/watch?v=w1elDLGd9zQ

The episode not only highlights major initiatives like the New International Land-Sea Trade Corridor, China-ASEAN Week, and the ASEAN-China Young Leaders Scholarship, but also delves into practical examples of exchanges between China and ASEAN in civil society, NGOs, research institutions, and universities. Key moments include the Hong Kong GX Foundation’s collaboration with mainland medical teams to provide free cataract surgeries in Cambodia and Laos; experts from the Shaanxi Provincial Institute of Cultural Heritage aiding in the restoration of pagodas in Bagan, Myanmar; and young scholars from Shanghai Jiao Tong University working with the public health administration of Laos on schistosomiasis prevention and cure. These touching stories of cultural exchange provide a multi-dimensional perspective on the development of China-ASEAN relations over the past three decades, illustrating the building of a closer China-ASEAN community with a shared future through documentary footage.
Hashtag: #ShanghaiMediaGroup

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

De Beers and Landmark Present “Inspired By Nature” Exhibition Featuring The First Exclusive Display Of Rare Fancy Colour And White Diamonds In Hong Kong

A showcase of rare, fancy colour diamonds, a 126.92-carat natural rough diamond and High Jewellery Masterpieces will be on public view from 9 – 13 October at LANDMARK


HONG KONG SAR – Media OutReach Newswire – 9 October 2024 – De Beers Jewellers, the leading diamond Jewellery House, and LANDMARK, a world-class luxury shopping destination, are proud to announce a one-of-a-kind exhibition titled “Inspired by Nature” in Hong Kong. This exclusive showcase features a curated selection of the most exceptional diamonds, including rare, fancy-coloured and white diamonds and high jewellery masterpieces, with a total of 80 exhibits and an estimated value of US$100 million. Running from 9th to 13th October, the exhibition invites collectors and diamond enthusiasts to explore De Beers’ journey from rough to polished, highlighting the extraordinary beauty of natural diamonds as reflected in the jewellery house’s most treasured pieces.

Inspired by Nature 001

Highlights of the exhibition include a stunning 126.92-carat rough diamond mined by De Beers is rated D/E colour. Its exceptional white colour portrays the beauty of nature. The exhibition also features De Beers’ Heritage Masterpiece Diamonds from the Natural Works of Art Collection, a remarkable collection of extraordinary fancy colour diamonds in shades of pink, blue, orange, yellow, purple and green. Additionally, selected pieces from the 1888 Masterpiece Diamonds will be on display, paying homage to De Beers’ founding year and its discovery of nature’s ancient miracles since 1888, this is a curated selection of the world’s most exceptional natural diamonds, each discovered by De Beers in Botswana, Namibia, South Africa and Canada. As part of this exhibition, De Beers will undermine its unwavering commitment to responsible sourcing and creating a better future for people and the planet. Available onsite are also De Beers’ high jewellery collections including Soothing Lotus, Portrait of Nature and more, where an interplay of lights and diamonds will create a remarkable spectacle.

Inspired by Nature 002

Guests are also invited to join guided tours to view the exhibits, as well as a Design Atelier that show how artisans transform rough diamonds into polished, exquisite treasures. For those seeking a deeper appreciation of diamonds, a Diamond Masterclass led by President Emeritus of the De Beers Institute of Diamonds, Mr. Andrew Coxon will also be available.

Inspired by Nature 003

126cts Rough Diamond

The irregular shape of this 126.92cts rough diamond suggests that it was once part of a much larger rough diamond formed over 800 million years ago, separated during its 300 kilometre journey to the surface of the earth.

This rough diamond was mined by De Beers and is graded as a D/E colour diamond. Its exceptional white colour portrays the beauty of nature. The diamond exhibits an extremely rare transparency and is perfectly pure due to the lack of nitrogen molecules present. A pear shape in excess of 40 carats is one of the best possible polished outcomes.

Inspired by Nature 004

From Rough To Polished

A beautiful polished diamond always begins with a beautiful rough. Each rough diamond will experience a unique journey from the earth’s core to the surface and only one in a million diamonds weigh above 1 carat. They are formed over billions of years, under extremely high temperatures in the depths of the earth. The organic shape of the rough diamond determines the final polished shape. The emotional connection developed through the journey of the diamond from rough to polished is a mark of our mastery and knowledge as the Home of Diamonds since 1888.

DB Classic Oval-Shaped Diamond Ring

At 30.08 carats, this oval-shaped diamond is the biggest polished diamond produced from its original rough (110.44 cts). This diamond was awarded the highest colour grade, d, making it an outstanding example of rarity.

HK$70,650,000

Enchanted Lotus High Jewellery Ring

Set in the Enchanted Lotus setting, this emerald-cut is of the highest colourless grade D, weighing 24.08 cts and internally flawless.

HK$55,650,000

DB Classic Heart-shape Diamond Ring

This heart-shaped diamond (18.03 cts) with the highest colourless grade D and internally flawless is framed by micropavé-set diamonds.

HK$42,800,000

DB Classic Pear-shaped Fancy Intense Pink Diamond Ring with Pear Sides

This beautiful pear-shaped, fancy intense pink diamond weights 2.05 cts. The total carat weight of the ring including the pear sides is 2.73 cts.

HK$28,700,000

De Beers Aura Double Halo Pink Pear Ring

This pear-shaped, fancy intense purplish pink diamond weights 2.13 cts. The total carat weight of the ring is 2.96 cts.

HK$29,450,000

Ellesmere Treasure High Jewellery Cushion-cut Fancy Vivid Blue Diamond Ring

This beautiful cushion-cut, fancy vivid blue diamond weights 1.53 cts. The total carat weight of the ring is 4.19 cts.

HK$34,150,000

DB Classic Pave Fancy Green Radiant Cut Ring

This radiant cut, fancy vivid bluish green diamond weights 0.83 cts. The total carat weight of the ring is 1.03 cts.

HK$6,950,000

DB Classic Oval-Shaped Fancy Intense Yellow Diamond Ring

This oval-shaped intense yellow diamond weights 4.13 cts.

HK$1,455,000

De Beers Aura Fancy Vivid Orange Solitaire Diamond Ring

In this diamond and white gold ring, this radiant-cut fancy vivid orange diamond weights 1.26 cts. In this iconic Aura mount, each round brilliant diamond is aligned by hand to ensure a closely contoured frame, magnifying the central solitaire’s character, in turn.

HK$27,100,000

Soothing Lotus High Jewellery Collection

Inspired by the serene beauty of the lotus flower, the Lotus By De Beers High Jewellery collection captures the extraordinary lifecycle of this symbolic bloom in pristine diamond form. This High Jewellery collection explores De Beers Jewellers’ signature use of rough diamonds, set with our own precision technique. Each rough diamond is artfully placed among polished diamonds to recreate the hues of water, or the vision of hundreds of lily pads decorating the surface of a pond. The serene peacefulness of a pond draped with lotus flowers and lily pads can provide a rare opportunity for peaceful contemplation. This tranquil vision is channelled by the Soothing Lotus set, where rough and polished diamonds are artfully arranged, in a harmonious balance of colour, shape and texture.

Lotus by De Beers Soothing Lotus High Jewellery necklace in white gold, rose gold and yellow gold; with 227 diamonds (159.47 cts). Centre diamond weighs 6.06 cts.

HK$10,750,000

Lotus by De Beers Soothing Lotus High Jewellery earrings in white gold, rose gold and yellow gold; with 14 diamonds (13.55 cts). Centre diamond weighs 2.07 and 2.02 cts respectively.

HK$1,735,000

Portraits of Nature High Jewellery Collection

Sculptural pieces that redefine the mystical form of the butterfly and reflect the natural brilliance of each diamond. In the High Jewellery collection, the openwork wings sparkle with unexpected details, and in their delicate design, capture the way butterflies land but never stay still for long. Detachable elements offer the gift of transformation, while new colourways in fancy colour diamonds reflect the iridescence of their wings.

J1PN16Z00J51 / D83773

Portraits of Nature High Jewellery collection Butterfly cocktail ring in white gold, rose gold and yellow gold with fancy orange and pink diamonds, and white diamonds (5.94 cts).

HK$590,000

J4FS02D10W72 / D67135

De Beers Bezel-Set High Jewellery necklace and clip in white gold with diamonds (16.80 cts).

Centre diamond: 1.01 cts pear-shaped white diamond

HK$1,140,000

DE BEERS INSPIRED BY NATURE HIGH JEWELLERY EXHIBITION
Date: 9th – 13th October 2024 (Wednesday to Sunday)
Opening hours: 11:30AM – 6:30PM
Address: Centricity, LANDMARK, 2/F, LANDMARK CHATER, Chater Road, Central

Hashtag: #DeBeers #DeBeersHK #LANDMARKHK #LANDMARKJEWELLERY

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

About De Beers Jewellers

Founded in London, with a flagship store on Old Bond Street and a presence in the most exclusive locations around the world, De Beers Jewellers is the pinnacle of luxury diamond jewellery. Building on De Beers over 135 years of expertise, the House glorifies the world’s most beautiful diamonds through creativity and craftsmanship in bold, distinctive designs.

De Beers is invested in ensuring all the diamonds it discovers create a lasting positive impact for people and the places where they are found. This comes with a pledge to build a better future – one that is fairer, safer, cleaner and healthier, in which communities thrive, ethical practices are maintained, and the natural environment is protected. We call this long-term commitment Building Forever.

De Beers diamond jewellery is available in more than 30 stores worldwide, as well as online at .

About LANDMARK

LANDMARK represents the epitome of top-tier luxury shopping and lifestyle experiences. Drawing from a rich heritage which began in 1904 – LANDMARK today is the luxury shopping destination of Hongkong Land’s Central portfolio including 4 iconic connected buildings, LANDMARK ATRIUM, LANDMARK ALEXANDRA, LANDMARK CHATER and LANDMARK PRINCE’S. LANDMARK offers approximately 208 of the finest stores and restaurants, all seamlessly linked by pedestrian bridges. From high fashion and accessories to watches and jewellery, from luxury living to beauty and grooming, from international cuisine to authentic gourmet dining, LANDMARK brings the ultimate shopping experience to the discerning customer.

VT Markets Analysis: Navigating the Downward Trend of the Dollar Index


HONG KONG SAR – Media OutReach Newswire – 9 October 2024 – As the Federal Reserve adopts a more accommodative monetary policy, VT Markets emphasizes the importance for traders and investors to stay informed and proactive. The Federal Reserve’s recent decision to cut interest rates by 50 basis points on September 19, 2024, marks a significant shift from its previous aggressive rate-hiking regime to a strategy designed to preempt potential economic downturns while managing inflation carefully. This analysis provides a comprehensive look at the implications for the U.S. dollar and broader financial markets, offering strategic guidance to help investors navigate these uncertain times effectively.

The Federal Reserve’s Shift and Its Implications

The rate cut has sparked debate over whether it can prevent a looming recession in the US. This is the fourth time since 2000 that the Federal Reserve has entered a rate-cutting cycle.

In the past, rate cuts were triggered by sudden events leading to sharp economic downturns, forcing the Fed to adopt an accommodative monetary policy to rescue the economy. This time, however, the cut is pre-emptive, as a recession “cloud” is hanging over the US.

Economic Indicators and Fed’s Adjustments

The latest rate-hike cycle had a clear objective: to combat inflation. Through a series of intense and aggressive tightening measures, inflation in the US fell from a peak of 9% to the current 2.6%.

However, unemployment rose sharply from 3.7% at the start of the year to 4.3%, signaling an economic slowdown and reigniting recession fears.

With regard to inflation, the Fed’s statement on its rate decision did not change much, reiterating that inflation is close to the 2% target. However, its description of the job market shifted from “moderating” to “slowing”.

Dollar Index and Global Financial Markets

To balance the risks to economic growth caused by inflation control, the Fed has now started to lower its benchmark rate.

Although the rate cut was expected, the scale of the 50-basis-point reduction surprised some market participants. This has raised concerns about the possibility of a recession.

Fed Chair Jerome Powell explained that wage data from Q1 2024 and the payrolls survey may have been overestimated[1]. Cross-referencing with the Beige Book revealed that businesses are experiencing reduced wage pressure.

Powell stated that there is no current indication of heightened recession risks.

The Fed’s dovish stance is now firmly established, leading to speculation about the scale of rate cuts for the rest of the year. The latest dot plot shows a significant downward revision, with committee members now expecting rates to fall to the 4.25-4.5% range.

This indicates that there is still around 50 basis points of space for cuts, with a forecast of 25 basis points each in the November and December meetings.

For 2025, there is an expected 100 basis points of additional cuts, and in the long term, rates are predicted to remain below 3%, signaling the Fed’s dovish position for the foreseeable future.

However, rate cuts are, and have been a double-edged sword. While they can stimulate the economy, there are concerns that inflation could return. The latest Fed economic projections (SEP) show that GDP growth expectations have been revised from 2.1% to 2% for this year.

Despite this downward revision, confidence remains in economic growth for the next two years, with GDP still expected to hold at 2%. Meanwhile, the unemployment rate has been revised up to 4.4%.

The VT Markets Research Desk believes that when combined with growth expectations, the rise in unemployment is mainly due to a balance in labour supply and demand.

With no large-scale layoffs in sight, the rate cut should help alleviate downward risks in the job market.

On the inflation front, PCE inflation has been revised from 2.6% to 2.3%, while core PCE inflation has been revised from 2.8% to 2.6%.

Although this forecast appears more optimistic, the market’s focus on inflation is gradually waning. The Fed is now more concerned about the “stubborn” inflation in the housing market, where price declines have been slow, warranting close attention in the months ahead.

The Fed’s decision to cut rates will have broad and profound effects on global finance, especially the US dollar. A steep drop in the dollar index is one of the key concerns for traders.

Compared to other central banks, the Fed has been relatively slow in cutting rates. The European Central Bank and the Bank of Canada both initiated their rate cuts in June 2024, with the Bank of England following in August.

Other central banks are also expected to begin easing, which will help ease the downward pressure on the US dollar. As a result, a collapse is unlikely.

Recent Fed rate adjustments show that the dollar often reacts in advance. Since Q3 this year, the dollar index has fallen sharply from its peak of 105.7 to around 100, a substantial drop.

The VT Research team suggests that while a collapse appears unlikely, a gradual decline may be expected. However, it’s important to note that these forecasts involve inherent risks and uncertainties, and actual outcomes may differ. Investors should conduct their own due diligence before making any investment decisions. Past performance is not indicative of future results.

Trading Perspective and Strategic Outlook

VT Markets advises traders to adopt a bearish outlook on the dollar but to also be prepared for potential short-term recoveries triggered by new economic data or changes in Fed policy.

[1] https://www.federalreserve.gov/newsevents/speech/powell20240823a.htm

Hashtag: #VTMarkets #CFDs #CFDsbrokers #Forextrading #indices #FOMC #Trading

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

Malaysia Strengthens Its Position in Sustainable Development With IGEM 2024, Introducing Pioneering Exhibition & Conferences, Clean Energy Transition Asia (CETA) Summit And Mobilityx

MALAYSIA – Media OutReach Newswire – 9 October 2024 – The International Greentech and Eco Products Exhibition & Conference Malaysia (IGEM) 2024, the region’s longest-running green technology exhibition, officially opens today, reaffirming Malaysia’s leadership in sustainable development with this year’s theme “Race Towards Net Zero: Regional Leadership for Climate Urgency“.

Organised by the Ministry of Natural Resources and Environmental Sustainability (NRES) and co-organised by the Malaysian Green Technology and Climate Change Corporation (MGTC), with the Malaysian Investment Development Authority (MIDA) and The C0_LAB Pte Ltd as the strategic partner, IGEM 2024 sets an ambitious target of RM4.8 billion in business leads and drawing 48,000 visitors from over 48 countries.

Hosted for the 15th consecutive year at the Kuala Lumpur Convention Centre from 9 to 11 October 2024, IGEM promises to push the boundaries of green innovation and collaboration with the introduction of two new themed zones – Clean Energy Transition Asia (CETA) Summit and MobilityX Exhibition. These pioneering zones are set to captivate thought leaders, policymakers, industry innovators, and stakeholders from the global green technology community.

Minister of Natural Resources and Environmental Sustainability, YB Nik Nazmi Nik Ahmad said, “The significance of IGEM is in fostering global collaborations and accelerating the transition towards a sustainable future. IGEM 2024 is more than an exhibition; it is a catalyst for change, bringing together innovators, policymakers and industry leaders to shape the future of green technology”.


Themed Zones: CETA and Mobility X

This year, IGEM introduces two new themed zones, each focusing on vital pillars of the green transition:

  • Clean Energy Transition Asia (CETA) Summit: This zone will serve as a platform for discussing renewable energy ramp-up, low-carbon technologies, CCUS, hydrogen, transition fuels, and energy storage solutions. CETA will host leading companies in solar and wind power as well as emerging startups in hydrogen energy and carbon capture.
  • MobilityX Exhibition: As global industries shift toward sustainable transportation, the Mobility X zone will spotlight electric vehicles (EVs), Urban Mobility, Charging Infrastructure expansion, digitalisation, and EV component manufacturing that aim to revolutionise mobility while reducing carbon footprint
Milestones for IGEM 2024 Impacting Green Growth

A major highlight of IGEM 2024 Day 1 is the soft launch of the COP29 Malaysia Pavilion in Baku, Azerbaijan. This marks Malaysia’s continued dedication to ratifying the Paris Agreement by participating in COP, where the country has actively voiced climate change concerns, including the loss and damages fund for developing countries.

Day 1 will see the ribbon cutting ceremony by Deputy Minister of NRES, YB Dato’ Sri Huang Tiong Sii, accompanied by Chief Secretary of NRES, YBhg. Datuk Dr. Ching Thoo a/l Kim; and Deputy Chief Secretary (Nature Sustainability), YBhg. Datuk Nor Yahati binti Awang.

On Day 2, Minister of Economy YB Rafizi bin Ramli will launch the official opening ceremony of IGEM 2024. NRES Minister YB Nik Nazmi Nik Ahmad will also present the opening remarks.

Key Exhibitors Leading the Sustainability Agenda

With over 70 exhibitors participating this year, IGEM 2024 has brought together some of the biggest names in green technology. Key exhibitors leading this year’s initiatives include:

  • Petronas: Malaysia’s national energy company will spotlight its commitment to net-zero carbon emissions through hydrogen energy and carbon capture technologies.
  • Tenaga Nasional Berhad (TNB): The nation’s largest electricity utility company will showcase its large-scale solar initiatives and innovative grid technologies to enhance energy efficiency.
  • OCBC Bank: Highlighting green financing solutions that support the global transition toward a low-carbon economy.
  • Xiamen Solar First Energy Technology: A global leader in hi-tech enterprise specialised in solar energy, this enterprise will showcase its wide array of offerings and services for achieving green energy with renewable resources.
Other notable exhibitors include Solarvest, UOB, Samaiden Group, Itramas, Citaglobal, and Solax Power, which showcase innovations in renewable energy, circular economy practices, and intelligent technologies that can shape a sustainable future.

IGEM 2024 will also witness several Memoranda of Understanding (MoUs) signed between Malaysian and international companies, reinforcing regional collaboration in the green economy. Trade visitors will also have access to exclusive business networking sessions organised by the Malaysian Investment Development Authority (MIDA), the Malaysia External Trade Development Corporation (MATRADE), and MGTC to attract investments in green technology.

Throughout the three-day event, attendees at IGEM 2024 will witness the latest innovations from local and regional exhibitors, focusing on five key pillars:

  • Empowering Cities: Showcasing solutions that enhance urban sustainability, from smart infrastructure to resilient green spaces.
  • Electrifying Mobility: Exploring electric mobility solutions, promoting cleaner transportation options, and reducing carbon emissions.
  • Decarbonising Energy: Highlighting Malaysia’s advancements in renewable energy and low-carbon technologies, emphasising the transition towards a greener energy landscape.
  • Accelerating Circularity: Focusing on circular economy practices, waste reduction, and resource efficiency will reinforce Malaysia’s commitment to sustainable production and consumption.
  • Conserving Biodiversity: Recognising the critical role of biodiversity in climate resilience and exploring strategies for preserving natural heritage.
Join the Race Towards Net Zero

As IGEM 2024 continues to pave the way for green technology and innovation, the event underscores the importance of collaborative efforts in achieving Malaysia’s sustainability goals. Join us in this exhilarating Race Towards Net Zero and be part of Malaysia’s green transformation.

Register now at https://www.igem.my/ to participate in this landmark event and experience cutting-edge exhibitions and conferences. Together, we can turn the tide on climate change and build a sustainable, prosperous future for all.

Hashtag: #IGEM2024

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

Rhenus Launches New Warehouse in Kulim Hi-tech Park


SINGAPORE – Media OutReach Newswire – 9 October 2024 – A new temperature-controlled warehouse was recently launched by Rhenus Warehousing Solutions in Malaysia. This marks the company’s commitment to expand its local footprint, with plans to add almost 300,000 square meters of warehousing capacity to support businesses in Malaysia.

Leading global logistics service provider Rhenus Group launched its latest warehouse in Kulim, Malaysia. The strategic move is part of the expansion plans in the country. The new bonded warehouse, located within the Kulim Hi-tech Park, is 5,193 square meters and provides customized logistics solutions to high-technology companies.

With a proven track record in high quality control, the new warehouse is set up to provide premium warehousing services especially for industries in electronics, semiconductors and solar panels in and near the park. The warehouse has achieved ISO certifications in Quality Management System, Environmental Management System, and Health and Safety at Work Environment.

Services available on-site include warehouse management, distribution as well as value-added services such as labelling, repacking, break-bulk, crating and quality checks.

“With the grand opening of our state-of-the-art warehouse in Kulim, we are excited to elevate our commitment to delivering unparalleled logistics solutions across the region. This landmark expansion underscores our dedication to offering tailor-made and highly efficient warehousing services designed to meet the dynamic needs of our clients in Kulim. At Rhenus, we seamlessly integrate cutting-edge technology with the exceptional expertise of our experienced team to provide superior service. Our profound local insights and industry acumen cement our role as the logistics partner of choice, empowering us to drive transformative growth and achieve outstanding success for our clients and us as a company,” says Rathanakumar Palani, the Managing Director of Rhenus Warehousing Solution for Singapore & Malaysia.

Since setting up its first office at Port Klang in 1993, Rhenus Malaysia offers specialized logistics solutions for various verticals, namely automotive, semiconductors, pharmaceuticals, chemicals and fashion. With offices in Penang, Johor and Kuala Lumpur, the logistics provider offers a suite of supply chain solutions including cross border trucking, domestic distribution, and project cargo handling. It is also a licensed customs broker.

Hashtag: #rhenus

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

About Rhenus

The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 7.5 billion. 40,000 employees work at 1,320 business sites in more than 70 countries and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family-owned business pools its operations in various business units where the needs of customers are the major focus at all times.