Home Blog Page 1400

Champasack Authorities Survey Phou Salao for Conservation, Tourism Development

By
Thongsavanh Souvannasane
-
Alounxay Sounnalath, Champasack’s governor, led local officiials to survey the Phou Salao area on 21 December to develop it into conservation site and toursm development. (Photo credit: Champamai Newspaper)

Champasack provincial authorities on 21 December conducted a field survey of Phou Salao as part of plans to develop the area into a provincial-level conservation site linked with tourism.

According to local media, the project will establish a provincial conservation area encompassing Phou Salao, Phou Bachiang, and Phou Malong, with an emphasis on participatory environmental protection. 

A 4-kilometer loop road around the mountain is also planned to serve as a fitness and exercise space, creating a new landmark for health-conscious residents.

In addition to infrastructure development, the project includes restoring natural ecosystems by releasing wildlife such as squirrels, wild chickens, and rabbits, as well as rehabilitating a sacred pond to enhance its appeal as a scenic tourist attraction.

Phou Salao, also known as Golden Buddha, is a hilltop temple located in Pakse City, the capital of Laos’s Southern province. The site is renowned for its large Buddha statue, visible for miles around. Perched atop a hill overlooking the city and the Mekong River, it offers panoramic views of the surrounding landscapes, in particular sunset,  and is easily accessible from Pakse.

Earlier in 2025, Champasack authorities also surveyed Phou Malong mountain in Phonthong district and announced plans to develop a 15.4-kilometer round-trip hiking trail.

Alounxay Sounnalath, Champasack’s governor emphasized that the initiative aims not only to promote tourism but also to preserve southern Laos’s identity, positioning Champascak as the “Pearl of the Mekong” while ensuring long-term environmental sustainability.

Champasack, the largest province in southern Laos, currently has 216 designated tourist sites, including 116 natural attractions, 60 cultural sites, and 40 historical places of interest. Among these is Vat Phou, a UNESCO World Heritage Site.

Rising Gold Prices Add to Household Costs in Laos

By
Phoudasack Vongsay
-
A picture to demonstrate the rising in costs of living and gold price.

Gold prices in Laos jumped sharply on 23 December, following a broader rise seen across neighbouring countries, as global prices climbed and local currency pressures pushed costs higher at gold shops nationwide.

In Laos, on 23 December, the selling price of gold ornaments rose by LAK 940,000 (USD 43) per baht in a single day. As of the morning of 24 December, prices had increased by a further LAK 50,000.

Similar increases have been reported elsewhere in Southeast Asia, where gold prices closely track global markets and exchange rates.

The selling price of gold ornaments climbed to LAK 46.71 million (USD 2,158) per gold baht (1 gold baht equals to 15.2 grams), up from LAK 45.77 million (USD 2,116) on 22 December. The increase followed a smaller rise of LAK 240,000 (USD 11) per baht the previous day, marking a significant acceleration in price growth.

While gold price movements often draw attention from investors, the impact in Laos has been felt mainly by ordinary families. In Lao society, as in much of Asia, gold remains closely tied to family traditions, particularly weddings, religious ceremonies, and long-term household savings. As prices rise, these purchases have become more costly for local buyers.

The increase came as global gold prices reached a new record of USD 4,497 per ounce, supported by market volatility and recent US monetary policy decisions. 

Earlier this month, the US Federal Reserve cut interest rates by 25 percent, its third reduction in 2025, bringing rates to their lowest level in three years. Lower interest rates typically support gold prices, as investors seek safe-haven assets during periods of economic uncertainty.

At the domestic level, higher gold prices are adding pressure for Lao consumers already facing rising living costs. According to the Lao Statistics Bureau, inflation rose to 4.8 percent in November, up from 4.3 percent in October, driven mainly by increases in electricity, water, health care, and education costs, alongside continued depreciation of the kip.

Housing, electricity, and cooking fuel prices rose by 18 percent, while health care costs increased by 13.5 percent and education expenses climbed 11.6 percent, further straining household budgets.

The Laotian Times has previously reported that fluctuations in the kip and rising inflation frequently translate into higher gold prices at local shops, increasing costs for jewellery buyers and small savers.

/C O R R E C T I O N — SI Group, Inc./

By
Advertorial Desk
-

In the news release, SI Group Announces Closing of Comprehensive Recapitalization, Positioning the Company for Accelerated Growth, issued 24-Dec-2025 by SI Group, Inc. over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

SI Group Announces Closing of Comprehensive Recapitalization, Positioning the Company for Accelerated Growth

Significant De-leveraging Transaction Resulting in Overall Debt Reduction of Approximately $1.7 Billion

THE WOODLANDS, Texas, Dec. 24, 2025 /PRNewswire/ — SI Group, a leading global developer and manufacturer of performance additives, process solutions and chemical intermediates, today announced the successful completion of a comprehensive recapitalization transaction supported by its lenders and equity partners. Through this transaction, SI Group has reduced its outstanding net indebtedness by approximately $1.7 billion (over 80% reduction) and made amendments to its revolving credit facility, both of which materially enhance SI Group’s financial and operational flexibility going forward. In addition, a new institutional ownership group, has injected $150 million of junior capital, demonstrating their confidence in the company’s long-term outlook. This investment will enable SI Group to fund the company’s working capital needs, invest in key operational initiatives, and accelerate growth to serve the needs of its customers and business partners.

“This recapitalization represents an important step for SI Group,” said David Bradley, President and CEO of SI Group. “By reducing our debt and securing new investment, we have strengthened our financial foundation, allowing us to continue investing in growth, improving operational capabilities, and supporting our customers worldwide. We appreciate the partnership of our new institutional investors, whose commitment reflects confidence in our strategy and positions us for long-term success.”

Advisors
Latham & Watkins LLP served as legal advisor, PJT Partners served as investment banker, AlixPartners LLP served as financial advisor to SI Group. 

Akin Gump Strauss Hauer & Feld LLP served as legal advisor and Lazard served as investment banker to an ad hoc group of the company’s second-out term loan lenders.

Baker Botts L.L.P. served as legal advisor to the company’s pre-transaction equity holders.

About SI Group
SI Group is a global leader in the innovative technology of performance additives, process solutions, and chemical intermediates. SI Group solutions are essential to enhancing the quality and performance of countless industrial and consumer goods within plastics, rubber & adhesives, fuels & lubricants, oilfield, and pharmaceutical industries. SI Group’s global manufacturing footprint includes 18 facilities on three continents, serving customers in 80 countries with approximately 1,600 employees worldwide. In 2025, SI Group received a bronze award for corporate social responsibility by EcoVadis and is ranked among the top 35 percent of the more than 150,000 companies worldwide. SI Group innovates and drives change to create value with a passion for safety, chemistry, sustainability, and extraordinary results. Learn more at www.siigroup.com.

Media Contact:
Joseph Grande
ph: + 1.413.684.2463
joe@jgrandecommunications.com

CLARIFICATION: An earlier version of this release was missing a period, and incorrectly described Baker Botts L.L.P. as the legal advisor to the company’s ‘current’ (rather than ‘pre-transaction’) equity holders.

HashMicro Showcases the Power of AI-Driven ERP at Singapore’s Leading Tech Forum

By
Advertorial Desk
-

SINGAPORE, Dec. 24, 2025 /PRNewswire/ — HashMicro attended the SME AI Growth Day 2025 on December 4th in Singapore. Organized by Alibaba Cloud, the event brought together more than 250 business leaders, technology players, and industry decision-makers to explore how artificial intelligence (AI) can be applied effectively to drive business growth.

The program was designed to help Southeast Asian businesses accelerate their digital transformation through AI solutions that are easy to adopt, secure, and scalable. The event also underscored Alibaba Cloud’s strengthened commitment to delivering enterprise-grade AI technologies that can be deployed across various sectors, including retail and distribution, manufacturing, and professional services.

At the forum, HashMicro participated as the largest ERP company in Southeast Asia, with a strong presence in Singapore. Trusted by over 2,000 companies across multiple industries, HashMicro is recognized as a digital transformation partner renowned for its innovation, scalability, and operational efficiency. Its reputation as an adaptive and AI-native ERP provider made its presence one of the most anticipated in discussions on AI implementation.

Delivering a session titled “Elevate Your Intelligent Enterprise with AI-driven ERP”, Assistant Chief Business Development of HashMicro, Felin, highlighted the fundamental shifts happening in the ERP landscape.

She emphasized that modern ERP is no longer just a tool for storing data or basic automation. It must evolve into a system that can understand the business’s context and support smarter decision-making.

Felin also noted that many businesses today face increasing operational complexity, driving the need for systems that are more intuitive and adaptable. As companies grow, ERP systems must evolve accordingly to keep pace with fast-moving and efficiency-driven operations.

“Today’s businesses need an ERP that can adapt, grow alongside the company, and offer intelligent support like a context-aware assistant,” Felin said during her presentation in Singapore (12/4/2025).

Addressing this need, HashMicro introduced Hashy, an AI assistant embedded directly into HashMicro’s ERP and accessible through chat without requiring users to log in. Built through the integration and customization of Qwen, Alibaba Cloud’s Large Language Model, Hashy delivers a faster, more interactive, and more intuitive ERP experience for users at all levels.

As an AI agent, Hashy has demonstrated real value, from enabling real-time data-driven decision-making across modules and executing end-to-end workflows through simple prompts to offering a conversational interface that makes ERP usage significantly more efficient. All interactions are logged to ensure governance and compliance remain intact.

“With Hashy handling repetitive administrative work, teams can redirect their time toward more strategic initiatives,” Felin shared. “Hashy functions as an always-on employee who never misses a task, and it reflects HashMicro’s mission to make ERP not just a system, but a smart partner in daily operations.”

HashMicro has deployed Hashy extensively across its ERP ecosystem. During the live demo at SME AI Growth Day, Felin showcased how Hashy can automate payment collection through phone calls, assist HR with daily administrative tasks, manage complex tenders by negotiating with vendors, and generate comprehensive business reports within seconds for sales, finance, and inventory teams.

Looking ahead, HashMicro is committed to expanding AI adoption within its ERP system by developing additional AI agents for other strategic functions, ensuring that every business, including small and medium-sized enterprises (SME), can access enterprise-grade technology without the complexity that has traditionally posed barriers.

In line with the event’s theme, AI for SME Growth, HashMicro views AI not as a mere add-on but as a foundational element for building a smarter, more agile, and more competitive future for businesses across Southeast Asia.

HashKey Capital Announces First Closing of US$250 Million Fund IV to Accelerate Global Blockchain Adoption

By
Advertorial Desk
-

SINGAPORE, Dec. 24, 2025 /PRNewswire/ — HashKey Capital, a leading global asset manager specializing in crypto and blockchain, announced the successful first closing of its fourth fund, HashKey Fintech Multi-Strategy Fund IV (“Fund IV”). The fund concluded with US$250 million in total commitments, exceeding initial expectations and drawing significant interest from a diverse group of global institutional investors. As previously announced, the final AUM is targeted at US$500 million.

Fund IV, whose general partner is HashKey Capital Investment (part of HashKey Capital, and together with its affiliates, the “HashKey Group”), include a sophisticated mix of institutional investors, prominent family offices, and high net-worth individuals. Fund I has achieved a DPI of over 10x, which signals a robust institutional appetite for high-conviction blockchain exposure despite shifting global market dynamics.

Fund IV will pursue a multi-strategy investment approach to advance outstanding digital asset initiatives with a focus on infrastructures, scalable, and mass-adoption use cases globally. The fund combines a public-market strategy with liquidity generating crossover opportunities to capture structural inefficiencies for the digital assets industry. It is also complemented by selective private-market investments in innovations to enhance alpha.

A Legacy of High-Conviction Investing

Since its inception in 2018, HashKey Capital has been a cornerstone of the global blockchain ecosystem. With over US$1 billion in assets under management (AUM), the firm has managed a portfolio of more than 400 projects worldwide.

As an early institutional backer of Ethereum, HashKey Capital has a proven track record of identifying industry-defining technologies. Based in Singapore with a presence in Hong Kong and Japan, HashKey Capital is a pioneer in regulated investment, being among the first in Hong Kong to receive licensed upgrades for Type1 (Dealing in Securities), Type 4 (Securities Advisory) and Type 9 (Asset Management) services. Through its role in launching Hong Kong’s first Spot Bitcoin and Ether ETFs and organizing the Hong Kong Web3 Festival, HashKey Capital continues to be the definitive bridge between Eastern and Western crypto ecosystems and communities.

“With US $250 million in new capital, we are uniquely positioned to capture the massive growth occurring in emerging markets. These regions are the true testing grounds for blockchain’s real world applications, and Fund IV will provide the essential fuel to scale those innovations globally.” said Deng Chao, CEO of HashKey Capital.

“As we look toward 2026, the convergence of AI, blockchain, and institutional finance is creating unprecedented opportunities. Fund IV ensures that HashKey remains at the epicenter of this evolution, empowering projects that demonstrate both technical excellence and commercial viability.” said Dr. Xiao Feng, Founder of HashKey Group.

Fund IV will provide investors with institutional-grade exposure to all facets of blockchain and crypto technologies. This new fund aims to invest with a multi-facet strategy in infrastructures, toolings, and applications that have potential for mass adoption.

About HashKey Capital

HashKey Capital is a global digital asset and blockchain leader helping institutions, founders and talents advance the blockchain industry.

As one of the largest crypto fund managers and being the earliest corporate investor in Ethereum, HashKey Capital has managed over US$1 billion in client assets since its inception. Leveraging its unparalleled expertise, HashKey Capital’s venture investments team oversees a diversified portfolio of over 400 pioneering projects across institutional services, infrastructure, data, AI, consumer services/technology and more.

On the liquid funds front, HashKey Capital manages a suite of digital asset products, including an actively managed fund and the Bosera HashKey Bitcoin (3008.HK) and Ether (3009.HK) spot ETFs, which are listed on the Hong Kong Stock Exchange (HKEX). HashKey has also launched HashKey Fintech Multi-Strategy Fund IV in September 2025, targeting over USD 500 million to bridge traditional financial capital with on-chain assets.

With our deep knowledge across the blockchain ecosystem, HashKey Capital has built a robust network connecting founders, investors, developers, and regulators.

Website: https://hashkey.capital/
X: https://x.com/HashKey_Capital

Vietnam Endorses To Lam to Stay in Top Job

By
Laotian Times
-
To Lam takes his oath as Vietnam's President during the National Assembly's summer session in Hanoi on May 22, 2024. Vietnam's rubber stamp parliament voted in public security minister To Lam as the country's new president on May 22, after a major anti-corruption campaign forced his predecessor to resign. (Photo by Dang ANH / AFP)

AFP – Vietnam’s Communist Party on 23 December endorsed General Secretary To Lam to remain in the top job for the next five years, according to two sources briefed on a meeting where senior officials agreed a slate of candidates to be announced at the party congress in January.

Lam, who became party chief after the death of his predecessor in August 2024, has enacted reforms described by officials as “a revolution”, slashing the bureaucracy and cracking down on corruption as he seeks to boost economic growth.

“No change. The party chief remains in his position to ensure stability,” a source briefed on the meeting told AFP.

A second source confirmed he will continue as general secretary and also be nominated to serve simultaneously as president, as Chinese President Xi Jinping has done.

“On behalf of those entrusted with the nomination to the (party) Central Committee and leadership positions for the next term… we would like to thank the Central Committee, the Politburo, and the Secretariat for their trust in assigning us this task,” Lam said in a speech Tuesday, appearing to thank delegates for nominating him.

“We will continue to work together in unity and with a high sense of responsibility and efficiency, meeting the expectations of the Party and the People.”

The leadership decisions must be finalized at the party congress which runs from 19 to 25 January, when key policy plans will also be outlined for the next five years.

Radical Reform

Lam, who served briefly as president in 2024, stepped up as the top leader two weeks after the death of former General Secretary Nguyen Phu Trong last year.

Lam’s rise to the top job followed a long career with the public security ministry, which deals with the monitoring of dissent and surveillance in Vietnam.

In his short tenure, he has accelerated administrative reforms and announced vast infrastructure investments, aiming to meet aggressive growth targets that underpin the party’s claim to legitimacy.

The reforms saw the number of government ministries and agencies slashed from 30 to 22.

State media, the civil service, the police and the military all faced cuts.

Roughly 147,000 people were made redundant or took early retirement as Hanoi sought to streamline bureaucracy and boost the economy.

Lam also pushed to reduce the country’s 63 provincial and city administrations to just 34.

The reforms to the structure of government follow a sprawling, high-profile anti-corruption campaign in recent years.

The drive has swept up dozens of business leaders and senior government figures, including two presidents and three deputy prime ministers since 2021.

The radical reforms piloted by Lam come after a long period in which change came slowly, with the government emphasising stability and calm to build a reputation for predictability and court foreign investors.

© Agence France-Presse

United States Reviews Ambassadorial Assignments, With Laos Among Affected Countries

By
Namfon Chanthavong
-
More than 4,000 Lao nationals are among the over 1.4 million individuals in the United States with final deportation orders but not currently detained
US President Donald Trump speaks to journalists in the Oval Office of the White House in Washington, DC, on January 30, 2025. (Photo by ROBERTO SCHMIDT / AFP)

The United States is recalling nearly 30 career diplomats from ambassadorial and senior embassy positions worldwide as part of a broader effort by the Trump administration to reshape Washington’s diplomatic presence abroad.

According to US media reports citing State Department officials, chiefs of mission in at least 29 countries were informed last week that their assignments would end in January. The diplomats were originally appointed during the previous US administration and had continued serving into President Donald Trump’s second term before receiving notice of their recall.

Laos is among six countries in Asia where ambassadorial positions are affected, alongside the Philippines and Vietnam in Southeast Asia. Africa has seen the largest number of changes, followed by Asia, Europe, the Middle East, South and Central Asia, and the Western Hemisphere.

US officials said the diplomats are not being dismissed from the foreign service but will return to Washington for reassignment if they choose. Ambassadors serve at the discretion of the US president, and while terms often last three to four years, changes can occur at any time.

Officials said the administration aims to ensure overseas missions align with President Trump’s “America First” policy priorities.

For Laos, the potential leadership change comes as the two countries continue cooperation across areas including development assistance, health, education, and people-to-people exchanges.

Any transition at the embassy level could temporarily affect diplomatic engagement as new appointments or interim arrangements are put in place.

The Laotian Times sought clarification from the US Embassy in Laos, which did not comment and directed inquiries to Washington.

At the time of publication, no official announcement had been made locally regarding the timing or scope of any changes at the US Embassy in Laos.

2025 China International Gold Market Annual Conference Highlights Sanya’s Growing Role in Global Gold Industry Development

By
Advertorial Desk
-

SANYA, China, Dec. 24, 2025 /PRNewswire/ — On December 11, the 2025 China International Gold Market Annual Conference convened in Sanya, Hainan, attracting more than 500 representatives from gold producers, retailers, trading enterprises, industry associations, financial institutions, research bodies, and international organizations. The event served as a high-level platform connecting government, industry, and enterprises to advance globally oriented development.

At the opening ceremony, Yan Diyong, Secretary of the Party Committee of the China Gold Association, noted that Sanya is rapidly emerging as a new frontier for investment and entrepreneurship in the gold industry. Leveraging distinctive policy advantages and strategic geographic positioning, the city is accelerating the development of key platforms such as the gold and jewelry industrial park, promoting deeper integration across industrial and supply chains, and enhancing overall industry capacity. These efforts position Sanya as an important gateway for the internationalization of China’s gold sector.

During the conference, Sanya implemented a series of targeted initiatives to translate event-driven engagement into tangible investment outcomes. Meanwhile, through policy briefings, thematic discussions, and on-site inspections, participating delegates were provided with a comprehensive view of Sanya’s investment environment and development prospects, fostering substantive connections between enterprises and the city.

During policy briefings, officials from the Sanya Investment Promotion Bureau outlined policy scope, application processes, and implementation mechanisms. The briefings clarified available investment incentives and reinforced market confidence, with participating companies noting strong alignment between the policy framework and their development needs.

Field visits further enhanced engagement. Delegates toured locations including the Sanya Yazhou Bay Science and Technology City and the Sanya Central Business District, gaining first-hand insights into the city’s business environment, industrial layout, and progress in platform and infrastructure development.

Industry leaders also shared strategic perspectives during the conference. Zou Laichang, Deputy Secretary of the Party Committee, Vice Chairman, and President of Zijin Mining Group Co., Ltd., stated that, supported by the policy advantages of the Hainan Free Trade Port, Zijin Mining is investing in the establishment of an international business headquarters in Sanya and developing a gold-themed park. He emphasized the company’s continued commitment to principles of openness, collaboration, and mutual benefit, alongside the promotion of green, low-carbon, safe, and sustainable development in the gold industry. Zijin Mining also plans to seize opportunities to expand gold deep-processing operations, trade, and international market activities in Hainan, deepening global cooperation and contributing to both industry advancement and the construction of the Hainan Free Trade Port.

As the Hainan Free Trade Port advances toward island-wide special customs operations, Sanya is increasingly positioned to serve global gold markets. Preferential tax policies and cross-border trade facilitation, combined with the city ‘ s established gold and jewelry industry base, are accelerating supply chain integration and attracting high-quality enterprises. The launch of the Shanghai Gold Exchange’s gold storage warehouse in Sanya marked a key milestone, filling a critical gap in Hainan’s gold infrastructure. Looking ahead, Sanya aims to better align domestic and international demand with local industry development, expand capabilities in gold research, design, and bonded processing, and leverage policies tied to international tourism consumption and offshore duty-free shopping to foster new consumption scenarios.

With an open and inclusive approach supported by efficient, pragmatic measures, Sanya continues to attract high-quality enterprises and contribute to the high-quality development of the Hainan Free Trade Port. The city is also set to host upcoming events, which are expected to further consolidate industry resources in Sanya and drive sustained, high-quality growth across related sectors.

 

1...1,3991,4001,401...6,463Page 1,400 of 6,463