Home Blog Page 6

Umm Al Qura bets on a platform model as it launches a five-year strategy and unveils Makkah’s next urban frontier

Developer of Masar Destination announces 2026–2030 roadmap and secures 1.2mn sq m Masar Gardens award — signaling a structural shift from single-asset operator to multi-city development platform in the western region


MAKKAH, SAUDI ARABIA – Media OutReach Newswire – 9 June 2026 – Umm Al Qura for Development & Construction has drawn a sharp line under one chapter of its corporate history and opened another, announcing a new five-year strategy and, in the same breath, securing the development rights to a 1.2 million square metre site adjacent to its flagship Masar Destination in Makkah — a juxtaposition that appeared carefully choreographed to demonstrate that the new plan was already in motion before the ink on it had dried.

Masar Gardens
Masar Gardens

The company, which owns, develops, and operates Masar Destination and has been listed on the Saudi Exchange (Tadawul) since completing its institutional transformation over the previous strategy cycle, said on Tuesday that its 2026–2030 plan marks a transition from managing a single flagship project to operating what it described as a “multi-destination urban development platform” across Makkah, Madinah, and Jeddah.

The new site — awarded to a consortium of Umm Al Qura, Makkah Construction and Development Company, and Rajhi United Real Estate Company — will be developed under the name Masar Gardens and encompass the Hindawiya West and Hindawiya South plots. The choice of branding is deliberate: by extending the Masar name to an adjacent precinct rather than launching a standalone product, the company is signaling that its expansion logic begins with deepening what already exists before it spreads outward.

KEY NUMBERS

>60% compound annual revenue growth, 2021–2026
>45% compound annual net profit growth
SAR 2bn+ operating cash flow, most recent fiscal year
SAR 40bn development investment attracted to Masar Destination
30+ strategic partnerships forged
SAR 50bn+ targeted new development pipeline, 2026–2030
SAR 3–5bn incremental capital to be deployed over the strategy period

The financial backdrop to the announcement is striking. Over the five years to 2026, Umm Al Qura posted compound annual revenue growth of more than 60 per cent and net profit growth exceeding 45 per cent, while generating operating cash flows of over SAR 2 billion in its most recent fiscal year. Those are numbers that, in most markets, would attract a longer queue of investors than the company would need — and indeed, it reports attracting approximately SAR 40 billion in total development investment to Masar Destination over the period, alongside more than 30 strategic partnerships.

The question that the 2026–2030 strategy must answer is whether a management team that built one destination on time and on budget can simultaneously direct a portfolio of projects across three cities while maintaining the operational discipline that generated those returns. It is, by any measure, a more complex undertaking — and the company’s chosen answer is structural.

‘The achievements of the past years have provided us with the confidence, expertise, and readiness to advance toward managing a fully integrated portfolio of urban destinations.’ — Yasser Abdulaziz Abuateek, Chief Executive

The strategy adopts what the company terms a “flexible operating model,” enabling it to function either as master developer or as partner and development manager depending on project-specific investment criteria. This architecture — in which Umm Al Qura deploys expertise and brand as much as balance-sheet capital — is central to understanding why it believes it can manage a SAR 50 billion-plus development portfolio while committing only SAR 3–5 billion of incremental capital over the strategy period. The mathematics only work if co-investors and consortium partners carry a substantial share of project-level financing, which places premium value on the company’s governance framework, track record, and institutional relationships.

Yasser Abdulaziz Abuateek, chief executive, framed the moment in terms of sequencing rather than scale alone. “The launch of our new strategy represents a pivotal turning point,” he said, “as we move from a phase of capability building to one of considered expansion.” The word “considered” appeared to be doing some deliberate work: a reminder, perhaps, that the strategy is explicitly not designed to maximize the number of projects, but to concentrate development activity within a geographically coherent and operationally integrated footprint.

That geographic logic — a tight focus on the western region — is one of the strategy’s more analytically interesting features. Makkah, Madinah, and Jeddah together constitute a demand catchment unlike any other in the Kingdom: structurally underpinned by the Hajj and Umrah pilgrimage economy, the subject of sustained Vision 2030-aligned public investment, and the locus of the country’s most significant cultural and commercial infrastructure. For a company whose institutional identity is inseparable from Makkah, the western region is not a constraint but a concentration of competitive advantage.

The company also reaffirmed that Masar Destination would remain the “central cornerstone” of its portfolio, with development of approved extensions continuing in parallel with new initiatives. For investors, that commitment matters: it confirms that the platform expansion is additive rather than a dilution of the asset that underpins the company’s listed value, and that management is not proposing to harvest the flagship in order to fund growth elsewhere.

The strategy’s formal alignment with Vision 2030 objectives — which the company cited explicitly in connection with enhancing quality of life, stimulating investment, and strengthening economic integration — positions Umm Al Qura as a natural counterparty for government-adjacent development mandates across its target cities. In a market where the allocation of major urban development sites is closely connected to institutional credibility and track record, that positioning carries tangible commercial value.

What the strategy does not offer, at least in its public articulation, is a timeline for when the new destinations beyond Masar Gardens will be identified, announced, or initiated. The company’s language — “planned and selective expansion” in the service of “sustainable value” — suggests a deliberate pace that prioritizes return quality over speed of deployment. Whether that restraint holds as opportunities emerge will be among the more closely watched questions in Saudi real estate development over the coming years.

Further information: www.ummalqura.com.sa/en/new-strategy-2030

Hashtag: #Development #SaudiArabia

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

Atomicwork Launches the First Governed AI Workforce for Enterprise IT

Enterprises can onboard, deploy, and govern AI Coworkers the way they already run their human teams.

PALO ALTO, Calif., June 9, 2026 /PRNewswire/ — Atomicwork today announced the general availability of its AI Workforce Platform, purpose-built for enterprise IT, HR, Finance, and Workplace teams. The platform lets organizations deploy and govern AI Coworkers with defined job roles, skills, budgets and scoped permissions — going from zero to a fully operational AI Workforce in days.

Atomicwork launches the AI workforce management platform for modern IT teams that gives enterprises the infrastructure to deploy, govern, and scale AI coworkers alongside their human workforce.
Atomicwork launches the AI workforce management platform for modern IT teams that gives enterprises the infrastructure to deploy, govern, and scale AI coworkers alongside their human workforce.

The platform moves enterprises beyond brittle workflows and task-driven service management to an adaptive AI Workforce that owns enterprise service management end-to-end. Each AI Coworker operates with live enterprise context to handle real service issues like provisioning access, responding to incidents, onboarding employees, troubleshooting hardware and handling business service operations, without requiring human involvement at every step.

Until now, IT teams have only had legacy ITSM platforms built to automate workflows at the task level. These systems are designed to track tickets, not resolve them; every meaningful action still falls to a human. They help companies manage volume but never escape it, leaving service teams buried in work and the business waiting on strategic initiatives that are long overdue. Atomicwork closes that gap — turning service delivery from a bottleneck into the engine that powers the business.

“Every AI story in this market ends up being a better interface on top of the same broken model. What Atomicwork does is different — it replaces the workflow model underneath IT. The AI Workforce Platform gives enterprises a governed workforce of AI Coworkers: each one with a job role, a budget, scoped permissions and an audit trail. It’s not a better candle. It’s the lightbulb. IT runs the AI Workforce the same way HR runs human teams,” said Vijay Rayapati, co-founder and CEO of Atomicwork.

Atomicwork customers get a team of ready-to-deploy AI Coworkers on day one. Atom, the Universal AI Coworker, handles frontline queries from employees across Microsoft Teams, Slack, MCP clients, email, browser, and portal — through chat, voice and vision. Purpose-built AI Coworkers across IT, HR, Finance, Legal and Workplace take on high-volume service work, from incident management and access provisioning to employee onboarding — resolving requests and issues, bringing down the manual work queue. They delegate to one another based on defined scope and hand off to a human when required, with full context attached.

Business teams can also onboard, fine-tune and deploy custom AI Coworkers for any role within days, not quarters. Governing it all is a full workforce control plane that gives enterprise IT teams the same oversight of digital workers that they have for human teams: complete visibility into every AI Coworker in operation, including spend limits, scoped access and an audit trail for every action taken.

“Most AI deployments struggle in production because there’s no defined governance structure. That’s exactly the gap Atomicwork closes. Fifty percent fewer tickets and a fraction of the manual coordination work: that’s what two years on the platform looks like for Zuora. The AI Workforce Platform will help us take that further by handing service operations to AI Coworkers that operate within defined job role boundaries, escalate cleanly and leave a full audit trail. That’s what makes it something you can actually put into production, and adopt a new operating model,” said Karthik Chakkarapani, Chief Information Officer & Head of Enterprise AI & Corporate Operations of Zuora, a global enterprise that deployed Atomicwork.

The Atomicwork AI Workforce Platform is available today to all customers and partners. Existing customers can go live immediately — no migration, no reimplementation. And teams still running legacy ITSM solutions like ServiceNow or Jira Service Management don’t have to wait or replace existing systems. The Atomicwork AI Workforce Platform layers on top of their existing ITSM and ESM setup, putting AI Coworkers to work on day one — with a clean path to Atomicwork when they’re ready to make the move.

To see how AI Coworkers can transform service delivery for your team, request a demo at www.atomicwork.com.

About Atomicwork

Atomicwork is an AI-native ITSM and ESM platform that comes with an AI Workforce to run it — purpose-built for companies scaling through intelligence, not just headcount. Its governed AI Coworkers run access management, incident response, onboarding, and other enterprise service delivery initiatives end-to-end. From AI-native scaleups to global enterprises, organizations of all shapes and sizes run on Atomicwork. The company is headquartered in Palo Alto, CA, and backed by leading investors including Khosla Ventures, Battery Ventures and Peak XV.

Credit Bureau Singapore and Experian Malaysia Sign MOU to Enable Cross-Border Credit Reporting


SINGAPORE – Media OutReach Newswire – 9 June 2026 – Credit Bureau (Singapore) Pte Ltd (CBS) and Experian Information Services (Malaysia) Sdn. Bhd. (Experian Malaysia) have signed a Memorandum of Understanding (MOU) to develop a two-way cross-border credit reporting service between Singapore and Malaysia.

From left to right: Ms. Dawn Lai, Chief Executive Officer of Experian Information Services Malaysia and Mr. William Lim, Executive Director of Credit Bureau Singapore
From left to right: Ms. Dawn Lai, Chief Executive Officer of Experian Information Services Malaysia and Mr. William Lim, Executive Director of Credit Bureau Singapore

The MOU establishes a framework for collaboration to facilitate consented cross-border credit report applications for individuals with financial footprints in either country. The initiative aims to enhance financial inclusion, strengthen credit risk assessment, and support the growing economic integration between the two neighbouring markets.

Singapore and Malaysia share one of ASEAN’s most dynamic economic relationships, with bilateral trade regularly exceeding SGD 100 billion annually. Both countries maintain deep labour, education and business linkages, supported by strong digital infrastructure and rapidly growing digital financial services ecosystems.

The collaboration is strategically aligned with the Johor-Singapore Special Economic Zone (JS-SEZ), which places strong emphasis on digital industries, data-driven enterprises and technology-enabled services. As the digital economy accelerates cross-border business models, including fintech, e-commerce, digital banking and platform-based SMEs, trusted cross-border credit infrastructure will be critical to enabling secure digital onboarding, responsible lending and seamless access to capital across both markets.

Under the MOU, CBS and Experian Malaysia intend to collaborate on a cross-border initiative that enables the structured and secure exchange of individual credit information between the two markets.

The proposed framework will define:

  • The operational roles of the “Source Bureau” and “Processing Bureau” in generating and facilitating cross-border credit data applications
  • Secure mechanisms for obtaining and managing consumer consent for a one-time release of the credit report
  • Personal data protection and compliance safeguards in accordance with applicable laws
  • Commercial and governance models to support sustainable implementation

For consumers, the initiative is expected to improve access to financial products by enabling lenders to consider verified credit histories of individuals from across the border. This may particularly benefit digital-native workers, entrepreneurs and professionals whose financial footprints span both jurisdictions. As more individuals build financial footprints on both sides of the Causeway, the ability to securely and responsibly reflect their credit history across borders becomes increasingly important. A structured cross-border credit reporting framework can help ensure that consumers are assessed more fairly and comprehensively, rather than being treated as “new-to-credit” applicants when they move between Singapore and Malaysia.

For financial institutions, access to cross-border credit data can provide a more holistic view of an applicant’s financial obligations, supporting stronger digital underwriting, reduced cross-border fraud risk and more confident expansion into adjacent markets. Improved cross-border data transparency may also enhance operational efficiency and portfolio resilience in increasingly digital lending environments.

CBS and Experian Malaysia emphasised that data protection, regulatory compliance, and consumer consent are foundational to the initiative. Both parties are committed to working within their respective legal and regulatory frameworks and engaging relevant authorities to facilitate responsible implementation. The MOU also contains confidentiality provisions governing information exchanged in the course of collaboration.

Mr. William Lim, Executive Director of Credit Bureau Singapore, said:

“As individuals and businesses operate more seamlessly across Singapore and Malaysia, credit information systems must evolve to reflect cross-border realities. This collaboration represents an important step towards enabling more seamless and responsible access to credit for consumers.”

Ms. Dawn Lai, Chief Executive Officer of Experian Information Services Malaysia, added: “Trusted data collaboration is key to strengthening digital financial ecosystems. By working together, we aim to enhance financial inclusion, improve risk transparency and support sustainable growth across both markets.”

Mr. Vincent Yap, CBS Board Chairman & Group Chief Credit Officer, Consumer Credit Risk Management of Oversea-Chinese Banking Corporation, said “The access to cross-border credit data can provide a more comprehensive view of an individual applicant’s financial obligations, supporting more accurate risk assessment outcomes, reduced cross-border fraud risk and promote seamless access to capital across both markets.”

Hashtag: #Experian

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

About Credit Bureau (Singapore) Pte Ltd (www.creditbureau.com.sg)

Credit Bureau (Singapore) Pte Ltd (CBS), a subsidiary of Credit Bureau Asia Limited (CBA), is Singapore’s most comprehensive consumer credit bureau that has full-industry uploads from financial institutions such as retail banks, merchant banks, finance companies and credit card issuers licensed by the Monetary Authority of Singapore (MAS). CBS is a joint venture between The Association of Banks in Singapore (ABS) and Infocredit Holdings Pte Ltd.

The setting up of a consumer credit bureau in Singapore is a significant addition to enhance the Republic’s risk management capability. Since 2002, the Banking Act, administered by the Monetary Authority of Singapore, has allowed CBS members to disclose and obtain credit-related information to mitigate consumer credit risk through information pooling from CBS. From 2021, credit bureaus that conduct consumer credit reporting businesses in Singapore, such as CBS, are regulated under the Credit Bureau Act 2016.

As part of consumer credit reporting business, CBS aggregates credit-related information amongst participating members and presents a more complete risk profile of a customer to credit providers. This helps credit providers to determine the likelihood of the customer repaying, thus enhancing their risk assessment capabilities. Our goal is to also educate and reach out to the wider community on the importance of credit reputation.

CBS has also been designated by the Ministry of Law as the operator of the Moneylenders Credit Bureau (MLCB) under Section 56 of the Moneylenders Act.

MLCB is a central repository of data on borrowers’ loans and repayment records with all licensed moneylenders (LMLs) in Singapore. It will allow LMLs to assess the creditworthiness of borrowers and make informed decisions when granting loan applications. MLCB will also help borrowers to understand their loan information report so as to work towards achieving better financial health.

About Credit Bureau Asia Limited
(www.creditbureauasia.com)
Credit Bureau Asia Limited (CBA) is a leading player in the credit and risk information solutions market in Southeast Asia. CBA provides credit and risk information solutions to an extensive client base of financial institutions (“FI”), multinational corporations, telecommunication companies, government bodies and public agencies, local enterprises and individuals across Singapore, Malaysia, Cambodia and Myanmar. CBA’s business has two core segments, the FI Data Business and the Non-FI Data Business, covering both consumer and commercial credit risk information.

As at 31 December 2024, the Group has more than 255 financial institution members across Singapore, Cambodia and Myanmar, including banks, microfinance institutions, leasing companies and rural credit operators.

For its Non-FI Data Business, the Group has more than 6,000 enterprise customers, ranging from multinational corporations to small and medium-sized enterprises. CBA’s Non-FI Data Business operates in Singapore and Malaysia, where enterprise customers can access a wide range of business information and risk management services, sales and marketing solutions, and commercial insights. CBA combines data sourced from a variety of publicly accessible registries, Dun & Bradstreet’s extensive international network, as well as information contributed by businesses which subscribe to CBA’s payment bureau services. The Group has access to a database of more than 580 million business records globally.

CBA was named in Forbes Asia’s 2025 “Best Under A Billion” list, marking the second consecutive year that CBA has been named among the top 200 top-performing publicly listed small and mid-sized companies across the Asia-Pacific region.

About Experian (www.experianplc.com)

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and platforms. We also assist millions of people to realise their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and to innovate. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 25,200 people across 33 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

For media enquiries please contact:
Credit Bureau (Singapore) Pte Ltd
Laura Chia
Marketing Manager
Email: laura.chia@creditbureau.com.sg
Experian
April Ng
Head of Marketing, Southeast Asia & Greater China
Email: april.ng@experian.com
PRecious Communications (for Experian)
Tanaya Chakraborty (Singapore)
Email: tanaya@preciouscomms.com
Ainur Faqihah (Malaysia)
Email: ainur.faqihah@preciouscomms.com

Vinrobotics Partners with Infineon to Advance Core Technologies For Next-Generation Robotics


HANOI, VIETNAM – Media OutReach Newswire – 9 June 2026 – VinRobotics, Vingroup’s pioneering robotics company, today announced the signing of a Memorandum of Understanding (MoU) with Infineon Technologies AG, a global semiconductor leader in power systems and IoT, to explore collaboration opportunities in building next-generation robotics applications based on advanced semiconductor technology. The partnership marks a strategic milestone in VinRobotics’ journey to build internationally competitive core technology capabilities, while further reinforcing the growing role of Vietnamese enterprises within the global technology collaboration ecosystem.

From left to right: Mr. Ngo Quoc Hung – Chief Executive Officer of VinRobotics, and Mr. Lim Kenneth – Senior Vice President, Automotive, Infineon Technologies Asia Pacific; at the MoU signing ceremony between the two parties.
From left to right: Mr. Ngo Quoc Hung – Chief Executive Officer of VinRobotics, and Mr. Lim Kenneth – Senior Vice President, Automotive, Infineon Technologies Asia Pacific; at the MoU signing ceremony between the two parties.

At the center of the collaboration is the planned establishment of the VinRobotics-Infineon Competency Center (VRICC) within VinRobotics’ facilities. The initiative will create an effective platform for technical exchange and co-innovation to build next-generation intelligent robots. Infineon will participate in VinRobotics’ robotics projects from the early stages of development, thereby bringing together the strengths of both engineering teams and connecting with the global robotics ecosystem.

Under the VRICC framework, VinRobotics will prioritize the evaluation of Infineon’s advanced semiconductor solutions across robotics platforms developed by VinRobotics. Through these activities, Infineon will share its semiconductor expertise and contribute to training programs for VinRobotics’ R&D personnel, while both parties jointly identify areas of mutual interest for potential future engagement.

As robotics and automation technologies continue to accelerate worldwide, the partnership with Infineon Technologies represents an important step in VinRobotics’ strategy to expand its research and development capabilities while strengthening ties with leading global technology partners.

Mr. Ngo Quoc Hung, Chief Executive Officer, VinRobotics, said: “We highly value the opportunity to engage with Infineon, a global technology leader with world-class semiconductor expertise and a strong technology ecosystem. The VRICC is intended to provide a meaningful platform for our teams to learn from Infineon’s expertise, evaluate emerging semiconductor technologies, and explore areas of mutual interest. As VinRobotics continues to build core technology capabilities through engagement with a diverse range of world-class technology partners, we believe initiatives such as this one will help lay the foundation for a new generation of robotics solutions developed in Vietnam, serving both the domestic market and gradually expanding into international markets.”

Philipp von Schiersteadt, Chief Sales Officer Compute, Consumer & Communication, Infineon Technologies AG, said: “As a global semiconductor leader and trusted partner to the robotics market, we support our customers from idea to mass production, helping them tackle critical deployment requirements such as efficient power flow, balanced movement, dexterity, robustness and fulfilling safety requirements. We provide the electronics foundation for physical AI at scale, built on profound system competency across the stack as well as on our industry‑leading safety and security expertise. Our collaboration with VinRobotics will focus on accelerating the development of next-generation humanoid robots for deployment in various sectors, from industry to services and the home.”

Established in November 2024, VinRobotics is a technology company under Vingroup and a pioneer in Vietnam’s robotics industry, with the vision of becoming a world-leading robotics technology enterprise. The company focuses on researching and developing next-generation robotics platforms designed for broad applications across industrial and daily life settings, helping improve productivity, enhance quality of life, and contribute to a more sustainable future.

Hashtag: #Vinrobotics

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

About VinRobotics

VinRobotics is a technology company under Vingroup, specializing in the research, development, and application of next-generation robotics and automation platforms. With the vision of becoming a world-leading robotics company, VinRobotics is committed to developing advanced technology solutions that enhance productivity, improve work quality, elevate quality of life, and contribute to building a prosperous and sustainable future.

About Infineon

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The Company had around 57,000 employees worldwide (end of September 2025) and generated revenue of about €14.7 billion in the 2025 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

KGI 2026 Mid-Year Global Market Outlook: Beyond the Mist, First Light Appears


HONG KONG SAR – Media OutReach Newswire – 9 June 2026 – Today, KGI has released its 2026 Mid-Year Global Market Outlook, covering markets in the US, Mainland China, Hong Kong and Taiwan.

(From left) James Chu, Chairman at KGI Investment Advisory; James Wey, Head of International Wealth Management at KGI; Cusson Leung, Chief Investment Officer, International Wealth Management at KGI.
(From left) James Chu, Chairman at KGI Investment Advisory; James Wey, Head of International Wealth Management at KGI; Cusson Leung, Chief Investment Officer, International Wealth Management at KGI.

Amid US-Iran geopolitical tensions and persistent inflation, the US economy in 2H 2026 is projected to leverage AI investment to drive growth across sectors, even as the Federal Reserve holds rates steady, potentially pushing Treasury yields above 4.8%. Concurrently, mainland China and Hong Kong markets are undergoing a structural transition, with high-tech exports showing notable resilience. Against a backdrop of shifting macroeconomic policies in both nations, coupled with historically low valuations in China-Hong Kong equities, economic growth targets are expected to catalyze a market realignment.

Under this backdrop, we maintain the “LEAD” strategy for the second half of 2026:

  1. Liquidity Shift
  2. Earnings Focused
  3. Adding Credit
  4. Diversified Assets

James Wey, Head of International Wealth Management at KGI, says: “In a fragmented macroeconomic environment where interest rates are plateauing and traditional asset correlations are breaking down, investors cannot afford to sit on passive cash. Our ‘LEAD’ framework is an active, high-conviction playbook designed for this exact environment. By transitioning liquidity into the structural growth lifecycle of AI infrastructure and unlocking predictable, institutional-grade yields in highly rated corporate credit, we are helping clients construct resilient, multi-asset portfolios. True wealth management goes beyond vanilla advisory; it requires seamlessly mobilizing resources across our fixed income, asset management, and global markets capabilities to institutionalize how private wealth navigates macro realignments.”

Macro & US Markets
The US economy should remain resilient in 2H26F. Although consumption faces headwinds from elevated oil prices and inflation resulting from the US-Iran war, investment is the current growth driver of the US economy, in particular AI‑driven capex, rather than the consumption seen in the past. As a result, the US economy has not seen the usual effects from a softening of consumer demand. Moreover, both the US and the global economy have become less dependent on crude oil, and with the US being a net oil exporter, its vulnerability to oil‑price shocks is greatly reduced compared to other economies. We therefore maintain our forecast for US GDP growth of 2.2% in 2026F.

In the eurozone, economic growth is soft amid ongoing energy price pressures and tightening credit conditions as a result of cautious policies. In Japan, domestic demand is losing steam, but external demand remains resilient, supported by the semiconductor sector. Inflation in Japan has yet to stabilize near the targeted level, prompting policymakers to maintain a steady and cautious approach toward normalization. In China, domestic demand and the property sector remain anemic. However, global AI investment is supporting external demand and emerging industries, mitigating the risk of a sharp economic slowdown.

With oil prices elevated and contributing to a rising CPI in the US, and as the unemployment rate is stable, the Federal Reserve (Fed) has kept policy rates unchanged over the past three FOMC meetings. We expect the Fed to keep interest rate changes on hold through the end of this year. That said, should medium‑to long‑term inflation expectations get out of control, or should wage growth pick up pace again, the Fed could face renewed pressure to raise interest rates.

As far as US stock markets are concerned, strong AI‑related capex and productivity gains have driven earnings upgrades, which now point to almost 20% YoY growth. As these benefits begin to spread beyond the tech sector, non-tech sectors will also be supported, resulting in extremely solid fundamentals. On the valuation front, although US 10‑year Treasury yields have risen alongside inflation expectations, increased profit margin has helped to keep equity risk premia at low levels. As a result, discount rates have been relatively stable, limiting the negative impact on stock valuations. Overall, with fundamentals being revised upward while valuation headwinds are contained, we raise our 2026F target for the S&P 500 index to 8,000 points.

Sector-wise, in addition to AI‑driven growth stocks, cyclical sectors benefiting from the spillover effects of AI are also likely to perform well, leading to a more diversified market boom. Regarding fixed income assets, as inflationary pressure rise and rate hike expectations intensify, US 10‑year Treasury yields could potentially rise to 4.8% or higher in 2Q-3Q26F. Investors are advised to engage medium‑and long‑term US Treasuries and investment‑grade US corporate bonds with higher credit ratings during periods of yield spikes. At the same time, given the deteriorating fundamentals of poorly-rated US issuers and their vulnerability to elevated oil prices, we advise against US high‑yield corporate bonds rated CCC/Caa or below.

James Chu, Chairman at KGI Investment Advisory, says: “Although the US economy continues to face pressure from higher oil prices and inflation, AI-related capital expenditure has become the primary growth driver, reducing the economy’s reliance on consumer spending and energy demand while supporting resilience in both economic activity and corporate earnings. We maintain our 2026 US GDP growth forecast of 2.2% and raise our S&P 500 target to 8,000, as we expect the benefits of AI investment to continue spreading across a broader range of industries.”

Mainland China and Hong Kong Markets
Market focus has shifted from “growth magnitude” to “policy and earnings visibility.” Despite tepid PMIs, positive signals are emerging: easing deflation, narrowing housing price drops, recovering consumer confidence, and a robust trade surplus supporting the RMB despite U.S. tariffs. Bolstered by monetary easing, accelerating corporate profits, and RMB 1.3 trillion in special government bonds, China’s economy is stabilizing. In this “tepid yet highly visible” environment, we recommend focusing on structural growth across four key themes:

Theme 1: U.S.-China Trade Volatility Offers Accumulation Opportunities
Tariff negotiations will peak between September and November. Initial aggressive tactics will likely yield to partial agreements, as full decoupling remains unfeasible. The resulting market volatility creates excellent long-term accumulation opportunities.

Theme 2: AI Monetization Highlights High-Tech and Robotics
With Q1 high-tech exports up 39.2% and AI token consumption surging, we favor downstream AI applications, cloud computing, and humanoid robotics. LLM-capable tech giants and core robotics manufacturers will be the primary beneficiaries.

Theme 3: Green Supply Chain Thrives Amid Energy Crisis
Geopolitics and elevated oil prices continue to drive global renewable energy demand. Avoid the saturated solar sector; instead, target wind energy for its expanding margins and tier-one lithium battery makers with next-gen technology and overseas growth.

Theme 4: State-Owned Banks Offer Defensive and Dividend Value
Slower rate cuts have eased net interest margin (NIM) pressures. Supported by economic stabilization and falling NPL ratios, large state-owned banks with high CET1 ratios and growing non-interest income are poised for robust earnings recovery.

Cusson Leung, Chief Investment Officer, International Wealth Management at KGI, says: “As China’s economy bottoms out, investors should capitalize on four core opportunities driven by policy support and easing deflation: (1) Accumulate during trade negotiation volatility, (2) Invest in AI-driven tech giants and robotics innovators, (3) Favor wind energy and lithium battery leaders over solar, (4) Leverage large state-owned banks for defensive yield. In summary, investors should utilize “technological innovation” and “green energy” as growth engines, anchored by “stable financials” to navigate volatility and achieve resilient returns.”

Taiwan Market
Benefiting from the continued acceleration of the AI infrastructure race and upward revisions to supply chain earnings momentum, we currently set our peak target for Taiex at 50,000 points this year, implying approximately 25% upside from current levels. This target is derived based on a 21x forward P/E multiple on next year’s earnings.

Taiex has delivered strong performance year-to-date, particularly since April. Despite rising geopolitical risks in the Middle East and potential supply disruptions in the Strait of Hormuz, the market has demonstrated notable resilience. The key driver behind this strength lies in the AI supercycle, which has effectively overshadowed short-term negative factors and supported market sentiment.

The latest global technology earnings season reinforces a critical message: AI is no longer merely a valuation narrative, but has evolved into a tangible driver of corporate earnings growth and capital expenditure expansion. For Taiwan’s supply chain, as AI applications extend from the cloud to edge devices and agentic AI, major cloud service providers (CSPs) are facing increasingly urgent compute demand, leading to broad-based upward revisions in capex guidance during this earnings cycle.

Supported by continued order expansion, earnings expectations for Taiwanese corporates have been revised upward accordingly. We now forecast overall Taiwan market earnings growth of 40% this year, significantly higher than our earlier estimate of 20% at the start of the year and 30% prior to the earnings season. Despite the high base, earnings growth is expected to remain solid at around 25% next year, suggesting the AI-driven earnings cycle remains durable.

Overall, we maintain a positive view on Taiex, with the structural bull trend intact. However, in the near term, two key risks warrant attention: first, escalating geopolitical tensions may push up oil prices and disrupt market confidence; second, any resurgence in inflation could alter the Federal Reserve’s policy trajectory. Given that Taiex are currently trading at elevated levels, a materialization of these risks could lead to increased volatility and potential technical corrections.

James Chu, Chairman at KGI Investment Advisory, says: “Driven by the surge in computing demand from the rise of agentic AI applications, global computing capacity remains in a clear state of undersupply. Major cloud service providers continue to raise capital expenditure, further driving upward revisions to earnings expectations across the AI infrastructure supply chain. At the same time, spillover effects from capacity constraints are broadening the range of beneficiaries. This AI investment cycle-driven bull market in Taiwanese equities represents a structural growth trend, rather than a traditional consumer electronics replacement cycle, and is likely to extend through 2027.”

Hashtag: #KGI #MarketOutlook




Wechat: KGI 凯基

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

About KGI

KGI* has been a leading financial institution in Asia since 1997. Our scope of business encompasses Wealth Management, Global Markets, Asset Management and Global Sales & Prime Services. We are committed to offering a comprehensive range of financial products and services to corporate, institutional, and individual clients throughout Asia. Backed by KGI Financial Group, we have a robust footprint in Asia, covering Taiwan, Hong Kong, Singapore, Indonesia, and Thailand^.

*KGI refers to KGI Asia Limited and its affiliates
^an investee enterprise of KGI Securities, not a subsidiary

Disclaimer
All the information contained in this document is not intended for use by persons or entities located in or residing in jurisdictions which restrict the distribution of this document by KGI Asia Limited (“KGI”), or any other affiliates of KGI. Such information shall not constitute investment advice, or an offer to sell, or an invitation, solicitation or recommendation to subscribe for or invest in any securities, insurance or other investment products or services nor a distribution of information for any such purpose in any jurisdiction. In particular, the information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America, or to or for the benefit of United States persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof). All the information contained in this document is for general information and reference purpose only without taking into account of any particular investor’s objectives, financial situation or needs and may not be redistributed, reproduced or published (in whole or in part) by any means or for any purpose without the prior written consent of KGI. Such information is not intended to provide any legal, financial, tax or other professional advice and should not be relied upon in that regard.

All investments involve risks. The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.

Bond investment is NOT equivalent to a time deposit. It is NOT protected under the Hong Kong Deposit Protection Scheme. Bondholders are exposed to a variety of risks, including but not limited to: (i) Credit risk – The issuer is responsible for payment of interest and repayment of principal of bonds. If the issuer defaults, the holder of bonds may not be able to receive interest and get back the principal. It should also be noted that credit ratings assigned by credit rating agencies do not guarantee the creditworthiness of the issuer; (ii) Liquidity risk – some bonds may not have active secondary markets and it would be difficult or impossible for investors to sell the bond before its maturity; (iii) Interest rate risk – When the interest rate rises, the price of a fixed rate bond will normally drop, and vice versa. If you want to sell your bond before it matures, you may get less than your purchase price. Do not invest in bond unless you fully understand and are willing to assume the risks associated with it. Please seek independent advice if you are unsure.

You are advised to exercise caution and undertake your own independent review, and you should seek independent professional advice before making any investment decision. You should carefully consider whether investment is suitable in light of your own risk tolerance, financial situation, investment experience, investment objectives, investment horizon and investment knowledge.

No representation or warranty is given, whether express or implied, on the accuracy, adequacy or completeness of information provided herein. In all cases, anyone proposing to rely on or use the information contained herein should independently verify and check the accuracy, completeness, reliability and suitability of the information. Simulations, past and projected performance may not necessarily be indicative of future results.

Information including the figures stated herein may not necessarily have been independently verified, and such information should not be relied upon in making investment decisions. None of KGI, its affiliates or their respective directors, officers, employees and representatives will be liable for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered or incurred by any person or entity due to any omission, error, inaccuracy, incompleteness or otherwise, or any reliance on such information. Furthermore, none of KGI, its affiliates or their respective directors, officers, employees and representatives shall be liable for the content of information provided by or quoted from third parties.

Members of the KGI group and their affiliates may provide services to any companies and affiliates of such companies mentioned herein. Members of the KGI group, their affiliates and their directors, officers, employees and representatives may from time to time have a position in any securities mentioned herein.

FanRuan Unveils DATA & AI SUMMIT 2026 in Hong Kong

Focus on Data Governance to Help Hong Kong Enterprises Build Trusted AI Decision-Making Capabilities


HONG KONG SAR – Media OutReach Newswire – 9 June 2026 – FanRuan Software, a leading business intelligence (BI) software brand in the Asia-Pacific region, today held the “FANRUAN DATA & AI SUMMIT 2026” at the Kowloon Shangri-La Hotel. Themed “Data Shapes AI, AI Redefines Decisions,” the summit brought together enterprise representatives and technology experts from industries including finance, construction, retail, and manufacturing to explore practical pathways for enterprise data governance, BI applications, and intelligent decision-making in the AI era.

FANRUAN DATA & AI SUMMIT 2026 Data Shapes Al, Al Redefines Decisions
FANRUAN DATA & AI SUMMIT 2026 Data Shapes Al, Al Redefines Decisions

At the event, FanRuan highlighted that as generative AI and intelligent analytics tools accelerate their entry into enterprise scenarios, the focus of Hong Kong businesses has shifted from “whether to adopt AI” to “whether AI can truly support business judgment and management decisions.” In an environment characterized by multiple coexisting systems, complex cross-departmental collaboration, and heightened compliance and access control requirements, enterprises lacking a consistent, accurate, and traceable data foundation will find it difficult for AI to produce analytical results trusted by management.

Therefore, FanRuan proposed an enterprise AI implementation pathway of “Governance First, Intelligence Second,” emphasizing that AI’s value stems not only from model capabilities but also depends on whether enterprises possess a governable, verifiable, and sustainably usable data foundation.

AI Applications Enter Deep Waters: Data Governance Becomes a Critical Prerequisite

In recent years, Hong Kong enterprises have actively explored AI applications in operational management, financial analysis, procurement decisions, customer engagement, and risk control. However, in actual implementation, many companies still face challenges such as data fragmentation, inconsistent metrics, system silos, and complex access controls.

For enterprises, the true value of AI lies not merely in generating answers, but in its ability to help managers faster understand business changes, diagnose problems, and take action based on trusted data. If underlying data sources are untraceable, metric definitions are inconsistent, or different departments maintain separate versions of data for the same business issues, even advanced AI tools will struggle to form analytical bases credible to decision-makers.

FanRuan believes that enterprise AI applications are moving from tool experimentation into the deep waters of business operations. In the future, the key to successful AI adoption within enterprises hinges on whether they can first establish a clear, stable, and manageable data governance foundation.

From Standardization to Intelligent Analytics: FanRuan Presents an Enterprise AI Implementation Pathway

Addressing enterprise needs to progress from data governance to intelligent decision-making, FanRuan showcased its “Governance First, Intelligence Second” implementation approach at the summit, helping enterprises sequentially build comprehensive capabilities from data standardization and BI applications to AI analytics.

First, at the data standardization level, FanRuan provides standardized analytics templates across multiple industries through Fine Gallery (App Marketplace), assisting enterprises in rapidly establishing consistent metric definitions and analytical frameworks. For companies whose data architectures still require refinement, standardized analytics scenarios serve as a starting point for building a Single Source of Truth (SSOT), reducing cross-departmental communication costs and enhancing the reusability of data applications.

Second, at the BI application level, FanRuan helps enterprises transform data scattered across ERP, finance, procurement, project management, CRM, and other systems into reports, dashboards, and analytical charts usable by both management and business teams. Through consistent data presentation and access control management, enterprises can more effectively grasp operational conditions, transforming data from backend records into daily management tools.

Building on this foundation, FanRuan further demonstrated Dora Data Agent, an AI-powered data analytics assistant designed for enterprise management and business analysis scenarios. Based on governed enterprise business data, Dora assists users in conducting multi-dimensional root-cause analysis, anomaly interpretation, and issue diagnosis. When enterprises face performance fluctuations, cost variations, procurement anomalies, or deviations in operational metrics, Dora helps managers shorten the time from “problem discovery” to “cause diagnosis,” making AI analytics more aligned with actual business objectives and decision-making contexts.

Deepening Presence in Hong Kong Market to Drive AI Data Analytics Adoption

FanRuan stated that for AI applications to deliver long-term value within enterprises, reliance on single tools is insufficient; supporting data governance methodologies, talent training, and localized service support are equally essential. For the Hong Kong market, FanRuan will continue to advance its digital talent certification system, helping enterprises reduce dependence on individual technical staff experience, enabling more business and management personnel to acquire data analytics capabilities, and gradually fostering an organizational culture where “everyone can understand data and use data for decision-making.”

As Hong Kong enterprises accelerate their digital transformation, the key to successful AI adoption will be how to transform data scattered across different systems, departments, and processes into decision-making assets trusted by management and routinely used by frontline business operations. Moving forward, FanRuan will continue to center on the “Governance First, Intelligence Second” core pathway, helping Hong Kong enterprises lay a solid data foundation for the AI era and establish more robust decision-making advantages.
Hashtag: #FanRuan #DataGovernance #ArtificialIntelligence #BusinessIntelligence #DoraDataAgent #DigitalTransformation #HongKongTech #TrustedAI #DataAnalytics


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

About FanRuan Software

As the leading all-in-one Data Analytics & BI platform, FanRuan empowers enterprises worldwide to bridge the gap between raw data and strategic action. Founded in 2006, FanRuan serves over 43,000 clients globally through 50 strategic branches, combining international leadership with localized expertise to help organizations transform information into lasting business value. With over 5 million daily users across industries including finance, construction, manufacturing and retail, FanRuan provides the future-ready foundation for sustainable growth. For more information, please visit

Forbes Travel Guide Unveils 2026 Hotel Star Bars List

37 of the world’s most exceptional hotel bars recognized based on in-person inspections

ATLANTA, June 9, 2026 /PRNewswire/ — Forbes Travel Guide (“FTG”), the global authority on luxury hospitality, today announced its 2026 Hotel Star Bars, recognizing 37 of the world’s most exceptional hotel bars for their cocktail artistry, elevated service and memorable guest experiences.

Spanning 18 countries, this year’s honorees were identified through data gathered as part of FTG’s Star Ratings, based on exacting incognito inspections conducted globally. The bars selected for the list excelled in scores related to their beverage program and presentation, as well as providing seamless, luxurious service and an exceptional guest experience.

“The 2026 Hotel Star Bars showcase extraordinary hotel bar experiences that create lasting impressions with guests,” said Hermann Elger, CEO of Forbes Travel Guide. “From inventive cocktail programs to thoughtful hospitality and distinctive settings, these hotel bars deliver experiences that resonate long after the final sip.”

This year’s 37 honorees include both storied icons and emerging standouts redefining the modern hotel bar experience.

Shanghai and Tokyo led this year’s list with three winning bars each. Five bars earned repeat recognition: Le Bar at Capella Shanghai, Jian Ye Li; Le Bar Américain at Hôtel de Paris Monte-Carlo; Le Bar Botaniste at Shangri-La Paris; Library by the Sea at Kimpton Seafire Resort + Spa; and The St. Regis Bar at The St. Regis Macao.

Some notable new standouts include:

  • The Champagne Bar at Four Seasons Hotel at The Surf Club, a palm-filled hot spot with Miami’s largest collection of champagne.
  • The Bvlgari Bar at Bvlgari Hotel Tokyo, a 45th-floor Mediterranean garden in the sky.
  • Vault Bar at Waldorf Astoria Amsterdam, a cozy former bank vault serving innovative drinks.
  • Don Manuel’s at Waldorf Astoria Los Cabos Pedregal, an open-air oasis with distinctly Mexican cocktails.

To view the full list of 2026 Hotel Star Bars, visit ForbesTravelGuide.com.

Connect with Forbes Travel Guide:

Instagram: @ForbesTravelGuide

X: @ForbesInspector

Facebook: ForbesTravelGuide

About Forbes Travel Guide:

Forbes Travel Guide is the only independent, global rating system for luxury hotels, restaurants, spas and cruises. Our anonymous inspectors visit every property we rate, evaluating hundreds of objective standards with an emphasis on exceptional service. Our Star Ratings are built on integrity; no one can buy a rating, and no fees, commissions or commercial relationships are required. For more information, visit ForbesTravelGuide.com.

Uxin to Report First Quarter 2026 Financial Results on June 16, 2026

BEIJING, June 9, 2026 /PRNewswire/ — Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), China’s leading used car retailer, today announced that it will release its financial results for the first quarter 2026 ended March 31, 2026, before the U.S. market opens on June 16, 2026.

Uxin’s management team will host a conference call on Tuesday, June 16, 2026, at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Beijing/Hong Kong time on the same day) to discuss the financial results. In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive access details for this conference including an event passcode, a unique access PIN, dial-in numbers, and an e-mail with detailed instructions to join the conference call.

Conference Call Preregistration: https://dpregister.com/sreg/10209737/1042ec49cec

A telephone replay of the call will be available after the conclusion of the conference call until June 23, 2026. The dial-in details for the replay are as follows:

U.S.:  

+ 1-855-669-9658

International:  

+1 412 317 0088

Replay PIN: 

3285335

A live webcast and archive of the conference call will be available on the Investor Relations section of Uxin’s website at http://ir.xin.com/.

About Uxin

Uxin is China’s leading used car retailer, pioneering industry transformation with advanced production, new retail experiences, and digital empowerment. We offer high-quality and value-for-money vehicles as well as superior after-sales services through a reliable, one-stop, and hassle-free transaction experience. Under our omni-channel strategy, we are able to leverage our pioneering online platform to serve customers nationwide and establish market leadership in selected regions through offline inspection and reconditioning centers. Leveraging our extensive industry data and continuous technology innovation throughout more than ten years of operation, we have established strong used car management and operation capabilities. We are committed to upholding our customer-centric approach and driving the healthy development of the used car industry.

For investor and media enquiries, please contact:
Uxin Limited Investor Relations
Uxin Limited
Email: ir@xin.com

The Blueshirt Group
Mr. Jack Wang
Phone: +86 166-0115-0429
Email: Jack@blueshirtgroup.co