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Higher for longer interest rate environment continues to benefit banks’ profitability in 2024, KPMG report finds

Banks must stay ahead of technology development and climate risks to thrive in fast-changing


HONG KONG SAR – Media OutReach Newswire – 11 July 2024 – Banks in Hong Kong saw moderate balance sheet growth last year with notable increases in net interest margins (NIM) and operating profit amid higher interest rates. In line with KPMG’s prediction in its 2023 Hong Kong Banking Report, the higher interest rate environment continued to benefit banks in improving profitability with a notable increase in NIM. In 2024, the firm expects banks in Hong Kong will lay the groundwork for the sector’s future development, despite the challenging conditions.

KPMG’s report Getting Set for the Future of Banking: Hong Kong Banking Report 2024 includes key statistics and analysis of the performance of banks in 2023, as well as expert insights into some of the major trends and key topics affecting banks, from the advance of new technology to evolving climate risk.

Paul McSheaffrey, Senior Banking Partner, Hong Kong, KPMG China, says, “Despite the uncertain external environment, the banking sector saw strong performance on margins and moderate growth in its overall balance sheet during the year. Looking ahead, banks will continue to benefit as interest rates may stay at higher levels than forecast. However, the timing and pace of a rate cut are still subject to uncertainties, so banks should plan their strategies accordingly.”

In 2023, the total assets of all licensed banks expanded by 2.7% to HKD 23 trillion. In line with KPMG’s prediction, the higher interest rate environment continued to benefit banks in improving profitability with a notable increase in NIM. The NIM for all licensed banks increased by 30 bps in 2023 to 1.84%, while operating profit before impairment charges for all licensed banks increased by 34.7% to HKD 295 billion.

For banks with more exposure to capital markets, KPMG sees that a shift to a lower interest rate environment will provide supporting tailwinds as it would benefit those with investment banking and wealth management operations as equities become more attractive. Capital market activities, equity risk premiums, businesses leveraged to cost of funding as well as the inevitable cash risk premium ‘opportunity cost’ are additional factors that will impact each bank differently as the interest rate cycle shifts.

Jia Ning Song, Head of Banking and Capital Markets, Hong Kong, KPMG China, says: “While Generative AI is the trending topic in 2024, it will likely take some time for use cases to emerge, and true adoption and productivity gains from GenAI will probably become the story of 2025 and beyond. Many banks in Hong Kong are now exploring ways to leverage GenAI while also balancing the risks involved. Banks will need to take steps to ensure the responsible use of GenAl and take into account the regulator’s expectations around the use of this type of technology. Hong Kong is also well placed to make use of advances in technology to help banking clients to manage the risks related to climate change.”

Climate risk is a major ESG-related concern for banks in Hong Kong, and the unprecedented extreme weather in the city last year highlighted the urgency of climate change. The financial services sector plays a crucial role in mitigating climate-related risks and helping Hong Kong achieve its goal of carbon neutrality by 2050. Over the past year, banks have been preparing for the HKMA’s Climate Risk Stress Test, due in June 2024. This aims to provide the regulator with a comprehensive understanding of banks’ climate resilience, focusing on both physical risk and transition risk.

Cost optimisation is another key area of focus. KPMG expects that in the next few years banks will be focused on consolidating common capabilities, the elimination of non-value add activities, digitising key functions, reducing labour costs, critically linking process metrics to customer outcomes, and managing credit risk.

Simon Shum, Partner, Financial Services, KPMG China, says: “As higher interest rates will continue to improve profitability, banks need to be vigilant in managing the credit risk in their loan portfolios. The anticipated reductions in rates along with a continued increase in cost, means that the challenge for managing costs and creating headroom for continued investment has become an imperative.”

Going forward, the key focus for the credit quality outlook will be the exposures to the Chinese Mainland real estate sector and Hong Kong’s SMEs. Any further measures taken by the Chinese Mainland authorities to contain and manage the issues arising from the real estate sector will be crucial in stabilising the market and limiting defaults among borrowers. Separately, the pace and strength of Hong Kong’s economic recovery from the lingering impacts of Covid will be another key factor, as a robust rebound in the city’s economy will contribute to improved credit conditions, especially for SMEs.

Talent retention and acquisition remained challenging for the banking industry in general, the total staff costs of the surveyed banks stayed broadly consistent with a slight increase of 3.2% in 2023. Talent schemes under the Fintech 2025 platform include the Fintech Career Accelerator Scheme, which has a variety of programmes for students and graduates, and the Industry Project Masters Network for post-graduates, which should help ease the talent shortage in this key area.

Hashtag: #KPMG

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

About KPMG China

KPMG China has offices located in 31 cities with over 14,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.

KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organisation or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multidisciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.

Vientiane Works to Compensate Families Affected by 230kV Transmission Line

230kV transmission line (Photo: Global Times)

The Vientiane Department of Energy and Mines is working to compensate residents affected by the construction of a new 230kV transmission line. This line connects the Phialath and Naxaithong power stations and has impacted a total of 253 families.

DHL Global Forwarding announces new President Director for Indonesia

  • Nicholas Bongsosartono takes on the leadership role at DHL Global Forwarding Indonesia

JAKARTA, INDONESIA – Media OutReach Newswire – 11 July 2024 – DHL Global Forwarding, the freight specialist of DHL Group, has appointed Nicholas Bongsosartono as the new President Director of DHL Global Forwarding Indonesia. Based in Jakarta, Bongsosartono will report to Thomas Tieber, CEO of DHL Global Forwarding, Southeast Asia and South Pacific.

Nicholas Bongsosartono takes on the leadership role at DHL Global Forwarding Indonesia
Nicholas Bongsosartono takes on the leadership role at DHL Global Forwarding Indonesia

In this new position, Bongsosartono will drive growth, improve operational efficiency, and deliver service excellence to customers in the Indonesia market.

“Indonesia represents one of the dynamic markets in the region, with an expected GDP growth of 5.1%1 this year. We are delighted that we have managed to promote internally, a testament to our dedication to nurturing talent and providing opportunities for our employees to thrive and excel in their roles.

Nicholas’s knowledge of the market and our business will play a pivotal role in strengthening our position in Indonesia, and delivering reliable and sustainable logistics solutions to our customers. His extensive experience across various aspects of the logistics industry, including air and ocean freight, inland transpiration, customs brokerage, as well as contract logistics, makes him well-suited for this leadership position,” says Thomas Tieber, CEO of DHL Global Forwarding Southeast Asia and South Pacific.

Bongsosartono joined DHL Global Forwarding Indonesia in May 2023 as Head of Airfreight. Before this, he was the Head of Product Management at AP Moller-Maersk for Indonesia and the Philippines, where he designed and managed a comprehensive portfolio of commercial products and services.

Bongsosartono also brings valuable expertise from his previous roles, where his responsibilities included health, safety, security, and environment, as well as procurement of goods and services such as warehousing, trucking, and customs clearance services. Additionally, he gained a wealth of experience in information technology as the IT manager of a logistics company in the early stages of his career.

“Indonesia is a very exciting market with stable growth expected from growing investments and consumer spending. I am optimistic about the thriving freight industry in Indonesia and confident that my experiences, combined with the exceptional team at DHL Global Forwarding Indonesia, will be instrumental as we enhance DHL’s footprint and foster regional connectivity,” said Bongsosartono.

DHL Global Forwarding Indonesia has been expanding its presence and enhancing its service offerings to respond to customers’ evolving needs. In March 2024, the company launched its first EV logistics Hub in Batam, Indonesia to contribute to the country’s integrated EV supply chain development. It was also at the forefront of electric last-mile delivery in Jakarta, being the first freight forwarder to deploy an electric van in the city. Recently, DHL Global Forwarding Indonesia has also been certified as a Great Place to Work®, achieving exceptional scores above 90 percent.

Hashtag: #DHL #DHLGlobalForwarding



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

DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 395,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.​

DHL is part of DHL Group. The Group generated revenues of more than 81.8 billion euros in 2023. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.

Prime Day Returns with Amazing Deals for Amazon Singapore Prime Members from 16 to 21 July

  • Prime members can expect incredible savings including up to 70% off books for all ages, and deep discounts of at least 50% off on brands like Acer, Lenovo and Owala.
  • Look out for Amazon Prime Day on the Go roving truck to experience the excitement of Prime Day and discover amazing deals.
  • Prepare your Wishlist, shop early deals, and stay up to date with the latest Prime Day news at Amazon.sg/primeday

SINGAPORE – Media OutReach Newswire – 11 July 2024 – (NASDAQ: AMZN) Get ready for Amazon Singapore’s annual deal event as Prime Day returns with the longest event ever to Singapore, spanning six days from 16 to 21 July at Amazon.sg/primeday. Prime members can look forward to exclusive access to thousands of deals across popular categories like Books, Toys, Electronics, Household & Kitchen and Baby.

Prime Day Returns with Amazing Deals for Amazon Singapore Prime Members from 16 to 21 July

Beyond deals and exclusive offers for Prime customers, members of the public can experience the excitement at Amazon’s Prime Day on the Go roving truck from 12 to 14 July, and 16 July at Bugis+ in Singapore. Simply show your Amazon.sg app to participate. Visitors can get a sneak peek at the exciting deals and products available on Prime Day through engaging interactive games and activities at this free public event. Local artist, Ee Shaun, will also be present on 13 and 14 July from 6pm to 8pm at Bugis+ to customise items at the live artist booth.

Date & Time Location Activities
12 – 14 July, 4pm to 9pm (last entry at 8.30pm) Bugis+, Level 1, Outdoor event space, Outside MEOW BBQ Take part in activities to redeem a free slice of cake and exclusive merchandise*, featuring artwork by local artist, Ee Shaun.

Live artist activity available from 6-8pm on 13 & 14 July only.

16 July, 4pm to 9pm

(last entry at 8.30pm)

Bugis+, Level 1, Outdoor event space, Outside MEOW BBQ Scan the QR codes in the truck to start shopping on Amazon.sg/primeday and redeem a free ice cream*!

*While stocks last

Experience the Biggest Prime Day with Incredible Deals

From 16 to 21 July, Prime members can enjoy an extended window to grab amazing deals and savings on products from Amazon.sg. Shoppers can also enjoy fast and free shipping on a wide range of eligible products across popular categories. Terms and conditions apply.

A preview of the top Prime Day deals that Prime members can expect include:

    • Toys, Books & Baby
      • Save up to 70% off selected books for book lovers of all ages
      • Save up to 50% off Children books
      • Save up to 50% off selected toy brand boxes from LEGO, Transformers, Playdoh, Hot Wheels and Paw Patrol
      • Save up to 40% off selected baby toys from Leapfrog and Skiphop
      • Save up to 40% off selected baby products from Ride Safer, Cybex, Joovy and Lovevery
      • Save up to 40% off Toys from Ravensburger, Funko, Playmobil, LOL Surprise
      • Save up to 30% off selected nursing and feeding essentials from Spectra and Haenim
    • PC & Electronics
      • Save up to 60% off selected laptops from brands including Lenovo, MSI and LG
      • Save up to 50% off selected headphones and earbuds from brands including Bose, Sennheiser, Sony and Jabra
      • Save up to 45% off on Sennheiser products, and additional $5 off with $200 min. spend
      • Save up to 40% off selected TV, soundbar and speakers from LG, Sonos, JBL and Marshall
      • Save up to 40% off selected items from Fitbit and Google
      • Save up to 40% off selected mobile phones from Google, Samsung, Apple and OPPO
      • Save up to 30% off smartwatches and activity trackers from brands including Garmin, Google and Fitbit
      • Save up to 30% off on LG products and additional $25 off with $200 min. spend.
      • Save up to 30% off Nintendo and Playstation games
    • Home & Kitchen
      • Save up to 50% off selected home products such as vacuums, irons and humidifiers
      • Save up to 50% off selected kitchen products such as coffee machines, cookware, cookers and fryers
      • Save up to 50% off selected items from popular home and kitchen brands including Owala, Oxo and Lodge
      • Save up to 30% off products from popular home brands including SharkNinja, Tefal, Philips and Muji
      • Save up to 45% off selected products from Cricut
      • Save up to 60% off selected bedsheets and covers from Epitex
      • Save up to 45% off Sk hynix solid state drives
      • Save up to 45% off Braun & Oral B
      • Save up to 40% off selected UGREEN chargers and USB hubs
      • Save up to 40% off selected massagers and weighing scales from Renpho
      • Save up to 40% off selected phone cases and accessories from Spigen
      • Save up to 30% off PicassoTiles Magnet Building Tiles
    • Selections from Amazon Fresh & Fast
      • Save up to 30% off selected grocery staples from brands including San Pellegrino, Acqua Panna, and Frenz
      • Save up to 30% off selected snacks from KIND’s, Remedy, and more
      • Save up to 30% off selected fresh seafood from Serve by Hai Sia
      • Save up to 30% off selected items from brands including Colgate, Softlan and Ajax
      • Save up to 30% off selected beers from brands including Asahi, Peroni Pure Blonde Low Carb

Additional Prime Day perks:

Promotions: Enjoy greater savings when shopping on Amazon.sg and Amazon Fresh. From 16 July, visit amazon.sg/bankpromotions for more information.

  • Bank promotions
    • DBS cardholders can get S$12 off S$150 or S$18 off S$200 when they spend on Amazon.sg and S$10 off S$170 when they spend on Amazon Fresh
    • HSBC cardholders can get S$8 off S$120 when they spend on Amazon.sg and S$8 off S$150 when they spend on Amazon Fresh.
    • Citibank MasterCard cardholders can get S$15 off S$150 or more when they spend on Amazon.sg.
  • Buy Now, Pay Later with Grab and Atome on Amazon.sg
    • Get S$15 off S$200 min spend with PayLater by Grab
    • Get S$12 off S$150 min spend with Atome
  • Looking for more payment promotions? Get 2% off your purchase, capped at S$50 when you use PayNow, with no minimum spend from 25 June till 21 July.

Amazon Fresh

  • Get 20% off your first order with minimum spending of S$40 on Amazon Fresh. Existing Prime members can enjoy S$18 off with a minimum spending of S$150, and S$25 off with a minimum spending of S$200 on Amazon Fresh.

Watsons on Amazon.sg

  • New Prime customers on Watsons on Amazon.sg can enjoy S$10 off your first order with minimum spending of S$60. Existing Watsons customers on Amazon.sg can enjoy S$12 off with a minimum spending of S$100 on Watsons on Amazon.sg.

Little Farms on Amazon.sg

  • New Prime customers on Little Farms on Amazon.sg can enjoy S$15 off your first order with minimum spending of S$80. Existing Little Farms customers on Amazon.sg can enjoy S$15 off with a minimum spending of S$100 on Watsons on Amazon.sg.

Prepare for Prime Day

  1. Not a Prime member yet? This is the best time to join Prime! Sign up for a Prime membership ahead of Amazon Prime Day event to shop exclusive deals, and get the most out of Amazon.sg including fast, free shipping across a wide selection of eligible products, quality entertainment, and exclusive savings. Start a 30-day free trial at amazon.sg/prime. Terms and conditions apply.
  2. Set up deal alerts: Prime members can subscribe to receive deal alert notifications related to their recent Amazon searches and recently viewed items. All they have to do is visit the Prime Day event page on the Amazon app between now and Prime Day to create deal alerts. Once Prime Day arrives, members will receive push notifications on any available deals.
  3. New “For You” Feature: Customers who are logged on to their Amazon.sg account can see recommended deals across all deals based on shopping history, wishlist, and more.
  4. Enjoy convenient Delivery and Return options: Prime members can enjoy fast and free shipping on millions of eligible items across domestic selection, Amazon Fresh as well as Amazon International Store. Need to return an item from US or Japan? Easy – customers can now experience hassle-free and faster returns, including pick-up from your address or via a drop-off center. More information here.

Shop for Good this Prime Day
Amazon makes it easier for customers to give back through the Amazon x Shop for Good Wishlist. While shopping during Prime Day, customers can also support local non-profit organizations (NPOs) and their causes by purchasing items off their Amazon wishlist – a depository of items they need the most. Shoppers keen to do good can donate through the wishlist.

Shop Deals from Small and Medium-Sized Businesses
Prime Day provides small and medium-sized businesses with the opportunity to promote their products to more than 200 million Prime members around the world. Visit Amazon.sg/smallbusinesses to start shopping from small business sellers and visit Amazon.sg/primeday for the latest Prime Day news.

* Terms and Conditions apply to all promotions and offers listed in this article.
Hashtag: #Amazon #primeday

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

Find Prime Day Around the World

Prime Day will kick off on July 16 in Australia, Austria, Belgium, Brazil, Canada, Egypt, France, Germany, Italy, Japan, Luxembourg, Mexico, the Netherlands, Poland, Portugal, Saudi Arabia, Singapore, Spain, Sweden, Turkey, the United Arab Emirates, the U.S., and the UK. Prime members in India can shop Prime Day later this summer.

Every Day Made Better with Amazon Prime

Amazon Prime was designed to make your life better every single day. Over 200 million paid members around the world enjoy the many benefits of Prime, including the best of shopping and entertainment. In Singapore, Prime membership includes unlimited access to award-winning movies and TV episodes with Prime Video, free gaming benefits with Prime Gaming, Prime Day, and more. Prime was built on the foundation of unlimited fast, free shipping. Prime members enjoy access to free one-day delivery on eligible domestic items, free international delivery with no minimum spending on eligible items, free delivery on selected delivery windows for orders of S$100 and above on Amazon Fresh and free 2-hour scheduled delivery for orders of S$60 and above on Watsons and Little Farms on . Prime is S$2.99 per month. Start a 30-day free trial of Prime at

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, personalized recommendations, Prime, Fulfillment by Amazon, AWS, and Kindle are some of the products and services pioneered by Amazon. For more information, visit .

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The 13th Canon x McDull Inter-school Ink Cartridge Recycling Award Presentation Ceremony


HONG KONG SAR – Media OutReach Newswire – 11 July 2024 – Canon Hongkong Company Limited (Canon Hong Kong) successfully held the “13th Canon x McDull Inter-school Ink Cartridge Recycling Award Presentation Ceremony cum Green Carnival” at the Canon Business Experience Center on 6 July 2024. Aiming at commending the winning schools for their outstanding performance in ink cartridge recycling, various green recycling booths and fun workshops were set up in addition to awards presentation, providing interesting environmental education activities to the participants.

The 13th Canon x McDull Inter-school Ink Cartridge Recycling Award Presentation Ceremony

Adhering to Canon’s corporate philosophy “Kyosei”, Canon Hong Kong has spared no effort to promote environmental conservation over the years and injected green elements into different kinds of corporate activities. Since the launch of “Ink Cartridge Recycling Program” in 2009, McDull, a local cartoon icon, has been invited to serve as the program ambassador. With the ambition of cultivating the environmental awareness of the next generation, the program was extended to the education sector in 2011, calling on support from primary and secondary schools. Now in its 13th year, the annual “Inter-school Ink Cartridge Recycling Competition” has received overwhelming responses from different sectors of the society. More than 300 organizations and schools have set up recycling boxes to encourage the public to recycle used inkjet printer cartridges. At the same time, Canon Hong Kong has organized over 200 sessions of “Environmental Seminar” for participating schools, reaching over 69,000 students to promote the importance of recycling. As of June 2024, over 276,000 ink cartridges were collected, with more than 6.3 tons of plastics recycled and over 9.5 tons of CO2 emissions reduced, equivalent to the amount absorbed by 414 trees annually. Recycled ink cartridges were dismantled, while the metals and plastics were being recycled into raw materials for other products.

In the keynote speech at the ceremony, Mr. Kazuhiro Ozawa, President and CEO of Canon Hong Kong, affirmed the winning schools for their exemplar dedication in promoting recycling. A total of 10 schools were recognized in the aspect of “Highest No. of Recycled Ink Cartridges” and “Highest No. of Recycled Ink Cartridges Per Head” respectively. Mr. Kazuhiro Ozawa expressed gratitude for the active support from the academic sector. He emphasized the importance of promoting environmental protection to the young generation and urged schools to build a better and sustainable society together by continuously responding to green initiatives.

After the ceremony, Canon Hong Kong arranged an array of green recycling booths and workshops for teachers, students and parents. These included the “Banner Upcycling Workshop” hosted by Canon Hong Kong’s green partner “The Green Earth”, turning discarded advertising banners into multi-functional handicrafts such as Octopus cardholders or name cardholders. Green Earth volunteers also shared different waste problems currently facing Hong Kong and hoped to raise students’ concerns about recycling. The “Green Education Corner and Recycling Activity” held by Baguio iRecycle Limited allowed students to understand better the 7 classifications of plastics and the correct recycling methods through interactive games; participants were also encouraged to bring along items such as clean clothes for on-site recycling. Apart from that, students brought alive exquisite 3D paper crafts using Canon branded paper during the “Creative Park Workshop”. The “Instant Photo Shoot and Print with McDull” and “Face Painting” were also highlights of the event.
Hashtag: #CanonHongkong

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

About Canon Hongkong Company Limited

Canon Inc. (TSE:7751 / NYSE:CAJ) was founded in 1937 in Japan. Its predecessor, Precision Optical Instruments Laboratory, produced Japan’s first 35 mm focal-plane-shutter camera “Kwanon” in 1934. From there, Canon Inc. expanded into the photocopying and printing industries, launching Japan’s first plain-paper copier NP-1100 in 1970 and the world’s first inkjet printer BJ-80 in 1985. Through the years, Canon Inc. has acquired in-depth experience in digital imaging product manufacturing, research and development. Pioneering in innovative product development, Canon Inc. holds the most technology patents in the imaging industry. Canon Inc. also makes significant contributions to promote photography. Today, Canon Inc. has a strong global presence, representing one of the most important market players in the imaging, office and industrial product categories. As of 31 December 2023, Canon’s global revenue was US$29.44 billion.

In 1971, Canon Hongkong Co., Ltd. (Canon Hong Kong) was established as one of the first Canon offices in Asia. Canon Hong Kong is a Total Imaging Solution provider, providing professional pre-sales, marketing and after-sales services for all Canon products and solutions in Hong Kong and Macau. With the solely owned subsidiary Canon Business Solutions (Guangdong) Co., Ltd. established in 2018; the company continues to deliver intelligent total business solutions and professional services to Greater Bay Area. Canon Hong Kong adheres to Canon’s corporate philosophy of “Kyosei”, encouraging the company and staff to engage in social, charitable and environmental activities for the community. Implementing an internationally recognized management system, Canon Hong Kong has achieved ISO 9001, ISO 14001, ISO 45001 and ISO 27001 (Canon Digital Production Center) certifications.

For more information about Canon Hong Kong, please visit our website: .

Nishan Forum bridges civilizations through dialogue and exchange


QUFU, SHANDONG – Media OutReach Newswire – 11 July 2024 – In 2021, during the China-Greece Year of Culture and Tourism, a sculpture titled “Divine Encounter” was placed at the foot of the Parthenon on Acropolis Hill in Athens, Greece. It depicts a dialogue between Socrates and Confucius, symbolizing the profound exchanges between Chinese and Greek civilizations. The timeless conversation between these two sages portrayed in the artwork illuminates the historical bonds that bridge Eastern and Western cultures.

PressReleaseTMPvmElri.jpg

Building on the spirit of cross-cultural dialogue, the 10th Nishan Forum on World Civilizations begins on Wednesday in Qufu City in east China’s Shandong Province. The forum, themed “Traditional Cultures and Modern Civilizations,” continues to promote mutual learning and common development among different civilizations.

The forum is named after the Nishan Mountain, formerly known as the Ni Qiu Hill, about 30 kilometers southeast of Qufu – the birthplace of the great Chinese thinker and educator Confucius.

Nishan is a major platform for exchanges and mutual learning between Chinese and foreign civilizations. It promotes cultural inheritance and development while sharing China’s stories with the world, Xi Yanchun, deputy head of the Publicity Department of the CPC Shandong Provincial Committee, told CGTN.

“Today, Nishan, which is confident, open and inclusive, has become an important platform for dialogues among diverse civilizations around the globe. It is an important window for countries around the world to gain insights into Chinese culture, ” she said.

The opening ceremony of the Tenth Nishan Forum on World Civilizations is held in Qufu City, east China's Shandong Province, July 10, 2024/CFP
The opening ceremony of the Tenth Nishan Forum on World Civilizations is held in Qufu City, east China’s Shandong Province, July 10, 2024/CFP

This year’s forum brings together nearly 400 international guests, including foreign dignitaries, representatives from international organizations, ambassadors to China and global experts to explore ways to integrate diverse cultural perspectives and find solutions to common global challenges. The 2024 edition, featuring keynote speeches, high-level interviews, sub-topic discussions and parallel forums, will see the largest number of participants in the forum’s history and be hosted on the largest scale to date as it welcomes attendees from 63 countries, over 50 percent of whom are international scholars.

“Even in today’s highly technological society in Japan, Confucianism still exists and continues to develop,” said Yasuo Fukuda, chairman of the International Confucian Association and former Japanese Prime Minister, during the opening ceremony.

“The essence of Confucianism lies in its focus on societal and national stability, guiding us on how to live. Its principles are universal, applicable across the world and in any era. This demonstrates that Confucianism can become a globally popular philosophy and way of thinking,” he said.

Confucius is believed to have lived from 551 to 479 BCE. Throughout his life, he emphasized morality, social harmony and education. His teachings, recorded in the “Analects,” laid the foundation for Confucianism and continue to inspire people worldwide.

This year’s forum discussions highlight Confucianism’s deep connections with human civilization and its relevance in addressing modern challenges. For instance, there will be an in-depth dialogue between the classical civilizations of China and Italy and discussions on how ancient Chinese wisdom and the ideas of contemporaneous Western philosophers can help address contemporary issues.

“The Confucian notion of harmony without uniformity is the best interpretation of the current era,” said Jeffrey D. Sachs, a professor of economics at Columbia University and president of the UN Sustainable Development Solutions Network. “No country is supreme on its own. We are bound together and share the world’s oceans, air, biodiversity, fuel supply and food. That is why harmony is essential.”

“Ancient Chinese and Western philosophers both addressed ethical issues in their respective regions and sought the best ways to govern. In today’s interconnected world, we need to jointly explore a global ethical framework,” he said.

“Chinese traditional civilization, including Confucianism, offers solutions to modern problems,” said Minister of Culture and Tourism Sun Yeli. “We are committed to deepen exchanges and mutual learning with civilizations from around the world through Nishan Forum and to continuously enhance our cultural cooperation.”

In addition to discussions on exchanges among civilizations amid global challenges, other discussion topics include the ethical integration of AI into society and the modernization of traditional medicine by combining ancient practices with modern scientific research, potentially leading to breakthroughs in healthcare.

This year’s forum will also include sessions on sports and family culture for the first time. The sports forum focuses on the connection between traditional Chinese culture and the Olympic spirit, emphasizing shared values like moral excellence, respect and harmony.

“The Olympics aim to build bridges and foster understanding among different cultures. The Nishan Forum shares this goal, deepening understanding through respectful dialogues and exchanges,” said International Olympic Committee President Thomas Bach at the opening ceremony.

“Civilization needs to adapt to new circumstances as times, lifestyles and production methods change. It must continually reflect and evolve,” noted Dong Ping, a professor at the School of Philosophy, Zhejiang University.

In line with this, the Nishan Forum continually broadens the scope of cultural exchanges, prioritizing dialogue on major issues, such as religion, ecology and societal change. Established 14 years ago in response to a United Nations initiative, it continues to serve as a vital platform for fostering international dialogue and cultural understanding.

Hashtag: #CGTN

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

French Embassy Backs Eight Gender Equality Projects in Laos

French Embassy Backs Eight Gender Equality Projects in Laos
French Ambassador to Laos Siv-Leng Chhuor gives a speech during the event (photo supplied)

The French Embassy is bolstering its commitment to gender equality in Laos by funding eight innovative civil society projects through the Equipe France Fund – Civil Society Organizations (FEF-OSC) program. Ambassador Siv-Leng Chhuor formalized the grant agreements with the selected Lao organizations at a ceremony held at the Residence of France.

NetApp Expands Intelligent Data Infrastructure Capabilities to Power Strategic Cloud Workloads

New capabilities empower customers to run data-intensive workloads like GenAI and VMware environments more easily


SINGAPORE – Media OutReach Newswire – 11 July 2024 – NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced the introduction of new capabilities designed for strategic cloud workloads including GenAI and VMware. These enhancements to NetApp data and storage services reduce the resources and risks for customers to manage these strategic workloads across increasingly complex hybrid multicloud environments.

“Strategic workloads, including GenAI and virtualized environments, are driving business innovation and have increasingly complex and resource-intensive infrastructure requirements that are pushing IT teams to the limit,” said Pravjit Tiwana, Senior Vice President and General Manager, Cloud Storage at NetApp. “NetApp is helping customers take back control of their data with intelligent data infrastructure that leverages unified data storage, integrated data services, and automated cloud operations. Even when they are up against specific and nuanced technology requirements for modern workloads, NetApp gives them the tools they need to optimize and simplify their data operations in their environments across the hybrid multicloud.”

“Enterprises in APAC are eager to tap the innovative power of GenAI and virtualized environments. Yet they are often held back by complexity, security and cost constraints,” said Matthew Swinbourne, CTO Cloud Architecture at NetApp Asia Pacific. “The range of enhancements announced by NetApp today aims to address challenges like these. With a robust, intelligent data infrastructure, APAC organizations will be able to harness their entire data estate, maximize their GenAI investments, and usher in a new era of innovation.”

To advance intelligent data infrastructure deployments that better support strategic workloads like GenAI and VMware environments, NetApp is announcing new capabilities, including:

  • NetApp BlueXP Workload Factory – for AWS: This intelligent data infrastructure service uses defined industry best-practices to automate the planning, provisioning, and management of cloud resources and services for key workloads, including GenAI, VMware cloud environments, and enterprise databases. Customers can use BlueXP workload factory to optimize deployment time, cost, performance, and protection of resources for strategic workloads as well as their associated data. To simplify workload migrations to the cloud, BlueXP workload factory allows users to profile infrastructure requirements for target workloads and compare different resource options for cost and performance needs. Then, the service can provision the selected resources, move any existing workload data to these newly provisioned cloud deployments, and continually optimize the entire environment to ensure the required cost and performance targets. AWS users can read guidance on how to deploy this capability on the AWS Solutions Library.
  • NetApp GenAI Toolkit – Microsoft Azure NetApp Files Version: Customers can now include private enterprise data stored in Azure NetApp Files in their retrieval-augmented generation (RAG) workflows in a secure, programmatic manner. The result is an enhanced ability to generate unique, high-quality, and ultra-relevant results from GenAI projects by combining their proprietary data with pre-trained, foundational models (FMs). The integration of the NetApp GenAI Toolkit with Azure NetApp Files represents a powerful synergy that empowers customers to harness advanced language generation capabilities.
  • Amazon Bedrock with Amazon FSx for NetApp ONTAP Reference Architecture: Amazon Web Services, Inc. (AWS) and NetApp have released a joint reference architecture which provides guidance for customers on implementing RAG-enabled workflows that bring proprietary data stored on Amazon FSx for ONTAP into their GenAI data pipelines. Amazon FSx makes it easy and cost effective to launch, run, and scale feature-rich, high-performance file systems in the cloud. The reference architecture allows developers to use APIs for Amazon Bedrock to connect with Amazon FSx for ONTAP data stores, enabling the secure use of proprietary data with a choice of high-performing FMs that can be customized to unlock new insights and capabilities.
  • Amazon FSx for NetApp ONTAP Enhancements: AWS announced the next-generation Amazon FSx for ONTAP cloud storage service with enhanced capabilities to boost scalability and flexibility to provide up to 6 GB per second of throughput for a single highly-available (HA) pair from 512 TiB of SSD storage. Next-gen file systems offer virtualized workloads more room to grow with a 300 percent increase in network burst throughput and a 150 percent boost in disk burst throughput. For large-scale, high-performance workloads like GenAI, second-generation Amazon FSx for ONTAP systems support dynamic scalability by adding HA pairs as needed, up to 24 nodes. This delivers up to 72 GB per second of throughput from 1 PiB of SSD storage, providing greater flexibility and performance for evolving business needs.
  • NetApp BlueXP Disaster Recovery Support for VMFS: The BlueXP disaster recovery service, which provides guided workflows to design and execute automated disaster recovery plans for VMware workloads across both on-premises and cloud environments, has been expanded to support VMFS datastores for on-premises to on-premises disaster recovery.

These updates build on NetApp’s existing offerings that support storage and data operations for customers that need to implement and manage high-powered, strategic workloads such as GenAI and VMware environments. For example, NetApp recently announced that its unique BlueXP data classification capability, which automatically classifies and categorizes data for enhanced governance and secure ingest into GenAI and RAG data pipelines, has become a core control plane capability now available free of charge to all NetApp customers.

“When it comes to GenAI, the prime focus for organizations is to adapt their data strategies to ensure they can balance data security, cost efficiency and innovation as they leverage pre-built LLMs to surface relevant, useful insights from their proprietary, business-relevant data,” said Archana Venkatraman, Senior Research Director, Cloud Data Management at IDC. “NetApp’s intelligent data infrastructure capabilities can help customers overcome the data challenges and offer specific guidance to automate workflows that can securely feed private data directly into public cloud providers’ LLMs. In addition, NetApp’s BlueXP data classification capability has the potential to mitigate the risks in data operations for AI because it allows users to discover and categorize data so that the right data is fed into the right model without exposing confidential, personal or restricted information.”

“Organizations are now facing different economic realities with regards to virtualized environments, and we all need to move quickly to address recent industry shifts,” said Derek Elbert, Solutions Architect at WWT. “Optimizing the cost versus performance equation of VMware workloads has become a primary initiative for us, with the objective of continuing to provide scalability and performance while reducing unnecessary system and software resources. NetApp’s offerings, such as the BlueXP disaster recovery service and the optimization metrics from Cloud Insights, help us better ensure the right levels of resource allocation and protection schemes for virtual environments, allowing us to focus on putting our infrastructure to work without killing the FinOps metrics.”

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About NetApp

NetApp is the intelligent data infrastructure company, combining unified data storage, integrated data services, and CloudOps solutions to turn a world of disruption into opportunity for every customer. NetApp creates silo-free infrastructure, harnessing observability and AI to enable the industry’s best data management. As the only enterprise-grade storage service natively embedded in the world’s biggest clouds, our data storage delivers seamless flexibility. In addition, our data services create a data advantage through superior cyber resilience, governance, and application agility. Our CloudOps solutions provide continuous optimization of performance and efficiency through observability and AI. No matter the data type, workload, or environment, with NetApp you can transform your data infrastructure to realize your business possibilities. Learn more at or follow us on , , , and .

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