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Vientiane Launches Sustainable Tourism Initiative with Innovative Technology for Growth

Patuxai in Vientiane Capital (Photo: Passport the World)

The Lao government has announced plans to boost tourism in Vientiane Capital with the theme “Vientiane’s Sustainable Tourism,” The initiative aims to incorporate innovative technologies into tourism management and create new attractions for visitors.

This project is a collaboration between the Department of Information, Culture, and Tourism of Vientiane Capital and Packon Company Limited from Thailand. A Memorandum of Understanding (MOU) was signed on 28 January to formalize the partnership and pave the way for tourism development in the capital.

A key focus will be conducting research to explore opportunities for expanding activities at existing and potential new attractions within the city. This includes studying the feasibility of sustainable tourism practices and developing a viable business model.

In addition to tourism, the project will address infrastructure improvements. Plans include enhancing water and clean energy management to support the growing needs of the tourism industry. Efforts will focus on reliable electricity and oil supplies, as well as efficient water management systems for drinking water, drainage, and wastewater treatment.

The initiative will also advance communication technologies, such as the implementation of 5G networks and expanded Wi-Fi coverage, to improve data management for city services. This will contribute to safer urban areas and better health standards for residents.

Further improvements will target key aspects of city infrastructure, including road construction, traffic management, transportation systems, waste management, and flood control measures.

In addition, the project aims to enhance tourist satisfaction by integrating technology to create a more seamless experience. Mobile applications will be developed to assist tourists, service providers, and business owners in areas such as entry and exit systems, tour guides, transportation, restaurants, shopping, and accommodations. These innovations are intended to meet international quality standards while preserving the unique aspects of Vientiane’s tourism offerings.

The initiative will also focus on developing new attractions along the Mekong River and at That Luang Lake, including upgrading the night market along the river, creating pedestrian-friendly walking streets, and enhancing other popular tourist sites. Electric tour buses will be introduced as a new symbol of Vientiane Capital, contributing to a greener, more sustainable tourism experience.

SKF Year-end report Q4 2024: Strong execution supporting margin resilience

GOTHENBURG, Sweden, Jan. 31, 2025 /PRNewswire/ —

Q4 2024

Net sales: SEK 24,725 million (24,438)
Organic growth: −3.1% (−1.9%), driven by lower market demand mainly in Europe and China, while Americas and India & Southeast Asia are showing positive sales development.
Adjusted operating profit: SEK 2,735 million (2,929). Continued strong price/mix contribution was offset by negative currency effects as well as lower volumes, which also resulted in decreased cost efficiency.
Adjusted operating margin: 11.1% (12.0%)
Net cash flow from operating activities: SEK 3,283 million (3,937)

Rickard Gustafson, President and CEO:

In 2024, we showed resilience in challenging market conditions thanks to diligent strategic execution. In the fourth quarter, we maintained solid margins given low demand and currency headwind.

Solid margin in week markets 

I’m pleased that we successfully navigated the challenging market conditions that prevailed throughout 2024, initiated a separation process for our Automotive business and continued to strengthen our operational and innovation capabilities. This positions us well to capture profitable growth opportunities as demand recovers. For the full year 2024, we upheld a resilient adjusted operating margin of 12.3% in a market that shifted from organic growth in 2023 to organic decline of −5.4%. Cash flow from operations was solid at approximately SEK 11 billion.

The weak demand environment remained also in the fourth quarter, partly offset by a solid price/mix through effective pricing activities, diligent portfolio management, and strong aftermarket focus. The organic sales decline in the quarter was −3.1% with large variations between regions. Our Industrial business in Americas and India & Southeast Asia showed positive organic growth, partly due to favorable timing of deliveries before year-end. Demand in Europe and China remained weak, which also was the case for Automotive in general, except for our EV business in China that performed well.

Our adjusted operating margin in Q4 of 11.1% represents another proof point of our improved resilience given the negative volume development and a negative margin impact from currency of −0.9 percentage points.

We have continued to work hard on cost reduction activities and fully offset high wage inflation. The fourth quarter, however, was the first since the low demand environment started in mid-2023 where these activities were not able to fully offset the negative impact from low volumes. Due to the product mix, we also saw an increase in material cost. Our diligent cost reduction activities will continue, including looking at the set up for our Industrial and Automotive businesses to create a strong foundation for the future.

Our Automotive business had a challenging quarter with volatile demand, impacted by customers’ reduced factory output. It is therefore encouraging that its underlying business performance is on a positive trajectory entering new margin accretive businesses. Our new Hub Bearing Unit for EVs, for example, provides significant customer value through increased mileage per battery charge by being 10% lighter than conventional wheel bearings and reducing friction by 30%.

Cash flow from operations was robust in the quarter at SEK 3.3 billion, supported by margin resilience and working capital reduction.

Investing in creating a stronger SKF

Regionalization is a key element of our strategy. In 2024, we continued to invest in further optimizing our footprint and in creating competitive and resilient regional value chains. These efforts improved our regionalization rates during the year from 63% to 68% in Asia and from 66% to 69% in Americas. Increased regionalization brings several market- and operational benefits. In China for example, it has shortened lead times from order to delivery with 25% since 2019.

To position us to benefit from the electrification megatrend and the increasing demand for high-speed rotation, we are investing in our ceramic bearing capacity and capabilities. To strengthen our competitiveness and secure the full value chain, we are investing in increased access to raw material as well as in accelerating our manufacturing and R&D processes.

Separation update–Capital Markets Day on 11 November

Our work to create two fit for purpose businesses, Industrial and Automotive, is in an intensive phase. More information about the progress will be shared on our Capital Markets Day which will be held on 11 November 2025 in Stockholm.

Outlook

The world is rapidly changing, with markets affected by geopolitical uncertainty, and we expect continued volatility. For the first quarter of 2025, we expect organic sales to weaken somewhat, year-over-year.

In recognition of the Group’s solid financial position, the Board has decided to propose to the Annual General Meeting a dividend of SEK 7.75 per share.”

Financial overview, MSEK unless otherwise stated

Q4 2024

Q4 2023

2024

2023

Net sales

24,725

24,438

98,722

103,881

Organic growth, %

−3.1

−1.9

−5.4

3.7

Adjusted operating profit

2,735

2,929

12,183

12,977

Adjusted operating margin, %

11.1

12.0

12.3

12.5

Operating profit

2,331

1,925

10,339

11,084

Operating margin, %

9.4

7.9

10.5

10.7

Adjusted profit before taxes

2,418

2,220

10,933

11,074

Profit before taxes

2,014

1,216

9,089

9,181

Net cash flow from operating activities

3,283

3,937

10,792

13,783

Basic earnings per share

3.31

1.37

14.22

14.04

Adjusted earnings per share

4.20

3.57

18.27

18.20

Net sales, change y-o-y, %, Q4

Organic1)

Structure

Currency

Total

SKF Group

−3.1

0.3

3.9

1.1

Industrial

−2.7

0.5

3.1

0.9

Automotive

−4.0

0.0

5.8

1.8

1) Price, mix and volume

Net sales, change y-o-y, %, Full year 2024

Organic1)

Structure

Currency

Total

SKF Group

−5.4

0.1

0.4

−4.9

Industrial

−5.7

0.1

0.3

−5.3

Automotive

−4.9

0.0

0.8

−4.1

1) Price, mix and volume

Organic sales in local currencies, change y-o-y, %, Q4

Europe, Middle East & Africa

The Americas

China & Northeast Asia

India & Southeast Asia

SKF Group

−7.9

5.3

−9.9

9.9

Industrial

+++

+++

Automotive

++

+++

Organic sales in local currencies, changey-o-y, %,
Full year 2024

Europe, Middle East & Africa

The Americas

China & Northeast Asia

India & Southeast Asia

SKF Group

−6.0

−4.0

−10.6

3.4

Industrial

+/-

+/-

Automotive

+/-

++

Outlook and Guidance

Outlook

  • Q1 2025: We expect organic sales to weaken somewhat, year-over-year.
  • SKF has decided to discontinue issuing full-year organic sales outlook.

Guidance Q1 2025

  • Currency impact on the operating profit is expected to be around SEK 200 million positive compared with the first quarter 2024, based on exchange rates per 31 December 2024.

Guidance FY 2025

  • Tax level excluding effects related to divested businesses: around 26%.
  • Additions to property, plant and equipment: around SEK 4.5 billion excluding separation of the Automotive business.

A webcast will be held on 31 January 2025 at 08:00 (CET):
Sweden +46 (0)8 5051 0031
UK/International +44 (0)207 107 0613
https://investors.skf.com

Aktiebolaget SKF
(publ)

The financial information in this press release contains inside information that AB SKF is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below on 31 January 2025 at 07.00 CET.

For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com

INVESTOR RELATIONS: Sophie Arnius, Head of Investor Relations
tel: 46 31-337 8072; mobile: 46 705-908 072; e-mail: sophie.arnius@skf.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/skf-year-end-report-q4-2024–strong-execution-supporting-margin-resilience,c4098728

The following files are available for download:

Tokyo Unicorn Summit 2025: Uniting Asia’s Leading Startup Visionaries for Cross-Border Innovation

TOKYO, Jan. 31, 2025 /PRNewswire/ — Tokyo-based global media agency Pacific Bridge Media and Consulting Inc. (PBMC) is pleased to announce that the inaugural Tokyo Unicorn Summit will be held on May 7th, 2025 at Azabudai Hills in Tokyo, bringing together approximately 100 unicorn and soon-to-be-unicorn companies from across Asia. This exclusive, invitation-only event will feature networking opportunities, private sessions, and Asia’s top leaders as guest speakers.

PBMC, which runs solutions-focused multilingual news service J-Stories, will co-host the event with a major Korean-language newspaper, The Chosun Ilbo, with the support from various startup support organizations from Korea, Taiwan region, Japan and other Asian countries.

In a world increasingly fragmented by conflict and discord, the need for collaboration and unity has never been greater. The Tokyo Unicorn Summit seeks to transcend borders and bring together Asia’s most influential innovators and visionaries. This unprecedented event is a dynamic platform where diverse ideas converge, exploring ways for top decision-makers in the startup ecosystems across Asia to collaborate and together solve social and environmental issues throughout the region.

The Tokyo Unicorn Summit aims to serve as a catalyst for Asia’s top entrepreneurs to unite and make the region the world’s innovation hub for the next generation. By uniting visionary entrepreneurs, we aim to bridge divides, spark collaboration, and address today’s challenges while unlocking tomorrow’s opportunities.

[Event Overview]

https://tokyounicornsummit.peatix.com/view 

Date: Wednesday, May 7, 2025

Time: 12:00-21:00 JST (Tentative; Subject to change)

Venue: Azabudai Hills (Tokyo)

Language: English

Organizer: Tokyo Unicorn Summit 2025 Committee

Co-Hosts: The Chosun Ilbo, J-Stories/Pacific Bridge Media & Consulting (PBMC), Korea Startup Forum

Partners and Supporters: SusHI Tech Tokyo, Startup Island TAIWAN and more

Participating Startups:

CxOs of

  • Unicorns
  • Recently IPO’ed unicorns
  • Series B to pre-IPO

from Korea, Taiwan region, Japan, and other Asian countries

Financial-sector Participants:

  • Investment banks
  • Cross-border VCs / CVCs
  • M&A specialists

For Inquiries Regarding This Matter

Pacific Bridge Media & Consulting Inc.
Email:
jstories@pacificbridge.jp / info@pacificbridge.jp
Phone: +81-50-5527-0955

Tokyo office of The Chosun ilbo
Email:
tokyo_office@chosun.com
Phone: +81-3-3214-5256 

About J-Stories

J-Stories is a solutions-focused media platform dedicated to introducing Japan-origin innovations that address global challenges such as environmental issues and food shortages. Since its launch in April 2022, J-Stories has published over 500 articles and has been widely disseminating innovations and ideas from Japanese startups, NGOs, and university research institutions through articles and videos.

J-Stories Website:
(English)   https://jstories.media
(Japanese)  https://jstories.media/jp

Pacific Bridge Media and Consulting, Inc. (PBMC)

Founded in 2010 by experienced international journalist Toshi Maeda with the mission to “connect the world with trusted content and realize a rich and equitable human society,” PBMC specializes in creating diverse multilingual content that combines video, language, and technology. The company provides comprehensive services for enterprises looking to share information globally, including planning and producing articles, visual content such as videos and photos, CGI, website creation, and multilingual live event broadcasting. PBMC has a strong track record working with a wide range of clients—from major domestic and international corporations and media to startups and government agencies—establishing itself as a highly regarded international multimedia content provider.

Company Overview

Pacific Bridge Media and Consulting, Inc.

  • Main Fields of Business: Multilingual content strategy-building, production and distribution; Cross-border public, media and investor relations, Multilingual event planning, hosting and technical & editorial support; live-streaming and news/event conference support, News and media release production and distribution worldwide; Startup & corporate media platform management and content production
  • Headquarters: 22nd Floor, Shiroyama Trust Tower, 4-3-1 Toranomon, Minato-ku, Tokyo
  • CEO: Toshi Maeda
  • Founded: June 30, 2010
  • URL: https://pacificbridge.jp

CONTACT:

PACIFIC BRIDGE MEDIA AND CONSULTING

Editorial department: Toshi Maeda (Executive Editor)・Takanori Isshiki (Deputy Executive Editor)・Anita De Michele (Editorial Coordinator)
email: info@pacificbridge.jp 
phone: +81- 50-5527-0955

World Famous Snow Festival Held in Sapporo Strives for Sustainability amid “Unprecedented Challenges” Caused by Climate Change

SAPPORO, Japan, Jan. 31, 2025 /PRNewswire/ — The 75th Sapporo Snow Festival will be held on February 4 – 11, 2025, in the City of Sapporo, Japan’s Northern Capital. As one of the world’s largest snow sculpture festivals, the city will be transformed into a winter wonderland featuring over 200 snow sculptures, some towering over 12 meters tall. With 2 million people from around the globe attending each year, the festival has become one of the most anticipated events on Japan’s calendar.

Image1:
https://cdn.kyodonewsprwire.jp/prwfile/release/M107897/202501233278/_prw_PI1fl_7va6XTbR.jpg

However, the festival is currently facing a variety of unprecedented challenges. There are financial problems arising due to the increased operating costs and a decrease in advertising revenue, as well as a shortage of large sculpture production staff. Additionally, the festival is facing the ongoing threat of global warming. In recent years, increasingly irregular snowfall patterns have made it harder to gather the required amount of snow, and the rising temperatures are causing the sculptures to melt and lose their shape. Hidenori Takagi, a veteran snow sculpture maker reflects, “When I started (17 years ago), global warming wasn’t as terrible and the temperatures tended to be low. But these days, it can get up to 5 to 6 degrees, which melts the snow, and we lose all our progress.”

Image2:
https://cdn.kyodonewsprwire.jp/prwfile/release/M107897/202501233278/_prw_PI2fl_GKWSsuSZ.jpg

To address these impending issues, the city is currently exploring ways to create a more sustainable festival. As Tomonori Aoyama, Director General for Sapporo City Tourism & MICE Promotion Department, states, “To address the unprecedented challenges, we need to find imaginative solutions with the help of domestic and international co-operation.” This year, to limit carbon dioxide emissions, there are hydrogen energy trials and solar panels in some areas of the festival.

Image3:
https://cdn.kyodonewsprwire.jp/prwfile/release/M107897/202501233278/_prw_PI3fl_OI88o3Ey.jpg

The snow sculptors are not deterred by the challenges ahead. Takagi shares the profound effect of the experience, saying, “Creating large snow sculptures is a big challenge. There are more and more things we must think about every year, from designing the models to building the sculptures, it takes about three months of preparation, which is extremely tough. But when people from all around the world come to see what we’ve made and we see their reactions, I know that it is worth doing. To put it a little dramatically — it feels like we’re receiving energy to live.”

Despite the ongoing challenges, Sapporo is taking on the task to preserve the Snow Festival tradition, while adapting to new changes. The City welcomes those who come and witness firsthand its efforts towards the future of the Snow Festival.

Image4:
https://cdn.kyodonewsprwire.jp/prwfile/release/M107897/202501233278/_prw_PI4fl_NKUDrJ23.jpg

Please refer to the links below for additional information about the festival and Sapporo tourism.

Snow Festival’s official website: https://www.snowfes.com/en/
The Untold Story behind the Sculptures: https://visit.sapporo.travel/topics/2025/01/16/the-sapporo-snow-festival-the-untold-story-behind-the-sculptures/
Sapporo City official tourism website: https://visit.sapporo.travel/

Synpulse appoints Prasanna Venkatesan as Senior Partner

SINGAPORE, Jan. 31, 2025 /PRNewswire/ — Synpulse, a leading consultancy for the financial services industry, is pleased to announce the promotion of Prasanna Venkatesan to Senior Partner, while also promoting Thomas Schaffner to Managing Partner.

Prasanna Venkatesan, Senior Partner and Global Head of Private Banking and Wealth Management
Prasanna Venkatesan, Senior Partner and Global Head of Private Banking and Wealth Management

Prasanna Venkatesan has been a part of Synpulse’s growth over the past 14 years. He joined when the firm had close to only 100 employees and has been contributing to its evolution into a global organisation with over 1,000 professionals. He has played a pivotal role as the Global Head of Private Banking and Wealth Management and leads the firm’s Regulatory, Risk, and Compliance practice worldwide.

His expertise includes large scale transformation, post-merger integration, non-financial risk management, financial crime compliance amongst others with focus on both data, AI/ML and target operating model design and implementation. He has deep experience in PBWM and Regulatory Compliance and Risk has helped deliver impactful business transformations in the industry.

Reflecting on his promotion, Prasanna Venkatesan said: “I am deeply honoured by this recognition and grateful to have been part of Synpulse’s extraordinary journey. I look forward to continuing to work with our talented teams and clients as we navigate the dynamic landscape of financial services.”

Yves Roesti, Managing Partner and CEO of Synpulse, commented: Prasanna Venkatesan’s promotion to Senior Partner is a reflection of his outstanding contributions and leadership within Synpulse. His dedication, expertise, and ability to drive transformative solutions have been instrumental in our success. We are excited to see Prasanna continue shaping the future of the firm.”

With this promotion, Synpulse reaffirms its commitment to recognising talent and driving excellence in delivering value for its clients worldwide.

Prasanna Venkatesan’s promotion is announced alongside Thomas Schaffner’s appointment as Managing Partner, highlighting Synpulse’s commitment to nurturing top talent and expanding its global presence.

About Synpulse  

Synpulse is a global professional services company and a valued partner of leading players in the financial services and related industries. We optimise the proximity to our clients and deep domain expertise to create sustainable value using technology as a business driver. Leveraging our strong network of over 100 ecosystem partners, we accompany our clients throughout their transformation journey – from strategy and development to implementation and management. With our tech powerhouse, Synpulse8, we collaborate with our clients to co-create digital experiences with innovative technologies and proprietary methods. Synpulse is powered by the passion and commitment of its more than 1000 employees from 21 offices who come from over 30 countries.

More information: www.synpulse.com.  

Media Contact
Synpulse, Anginn May, Communications Lead APAC, anginn.may@synpulse.com, +65 9796 8316

Over 4800 Lao Nationals Set to Face Deportation from the United States

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

More than 4,000 Lao nationals are among the over 1.4 million individuals in the United States with final deportation orders but not currently detained, according to a November report by the United States’ Immigration and Customs Enforcement (ICE).

Ministry of Health pilots text message vaccine reminders for childhood immunizations

Launches text message vaccine reminders for childhood immunizations ceremony

On 30 January, the Ministry of Health celebrated the start of a 12-month pilot that will see text message (SMS) reminders sent to parents soon after their child turns 1-year-old.  

BRI Officially Launches BRI UMKM EXPO(RT) 2025 and Microfinance Outlook to Empower Indonesia’s MSMEs

TANGERANG, Indonesia, Jan. 31, 2025 /PRNewswire/ — PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) officially launched BRI UMKM EXPO(RT) 2025, held alongside BRI Microfinance Outlook 2025 at ICE BSD City, Tangerang. The event was attended by key government officials, including Chairman of the People’s Consultative Assembly (MPR) Ahmad Muzani, Coordinating Minister for Economic Affairs Airlangga Hartarto, Coordinating Minister for Community Empowerment Muhaimin Iskandar, Minister of Finance Sri Mulyani Indrawati, Minister of MSMEs Maman Abdurrahman, Deputy Minister of State-Owned Enterprises Kartika Wirjoatmodjo, and Deputy Minister of Trade Dyah Roro Esti.

Prominent government officials, including Finance Minister Sri Mulyani Indrawati and Coordinating Minister for Economic Affairs Airlangga Hartarto, join other esteemed leaders at the official launch of BRI UMKM EXPO(RT) 2025 and Microfinance Outlook
Prominent government officials, including Finance Minister Sri Mulyani Indrawati and Coordinating Minister for Economic Affairs Airlangga Hartarto, join other esteemed leaders at the official launch of BRI UMKM EXPO(RT) 2025 and Microfinance Outlook

“Presenting BRI UMKM EXPO(RT) 2025 alongside BRI Microfinance Outlook (MFO). We hope that the combination of these two events can support President Prabowo Subianto’s Asta Cita vision in creating inclusive, competitive, and sustainable economic growth,” said BRI President Director Sunarso.

On the same occasion, Coordinating Minister for Economic Affairs RI Airlangga Hartarto appreciated BRI UMKM EXPO(RT) 2025, stating that the event is a proof of BRI’s commitment to empowering MSMEs. “This initiative by BRI, involving 1,000 MSMEs, is in line with President Prabowo’s Asta Cita vision to create high-quality job opportunities,” he emphasized.

With theme “Broadening MSME’s Global Outreach”, BRI UMKM EXPO(RT) 2025 aims to expand the market reach of Indonesian MSMEs and enhance the global competitiveness of local entrepreneurs.

BRI remains optimistic about Indonesia’s MSME business potential, aiming for business matching deals worth US$ 89.4 million throughout 2025, exceeding the US$ 81.3 million recorded in 2023.

Additionally, BRI is collaborating with the Ministry of Trade to introduce business matching sessions twice a month in 2025.

For more details about the event, visit briumkmexport.com.

BRI Microfinance Outlook 2025

Held alongside the expo, BRI Microfinance Outlook 2025 serves as a strategic forum discussing economic development, themed “Empowering the People’s Economy: A Pillar for Achieving Inclusive & Sustainable Growth.” focusing on community empowerment as the driving force behind a grassroots-based economy.

In her speech, Finance Minister Sri Mulyani Indrawati emphasized the crucial role of MSMEs in Indonesia’s economic landscape, as well as BRI’s active role as a state-owned enterprise (BUMN) in supporting this sector.

The forum features renowned international speakers, including ADB Chief Economist Albert Francis Park, Nobel Laureate Paul Romer, and Women’s World Banking Head Harsha Rodrigues, discussing strategies for strengthening inclusive finance.

For more information about BANK BRI, visit www.bri.co.id.