HONG KONG, May 21 (Bernama-BUSINESS WIRE) — China Mobile International, Facebook, MTN GlobalConnect, Orange, stc, Telecom Egypt, Vodafone and WIOCC announced today that they will partner to build 2Africa, which will be the most comprehensive subsea cable to serve the African continent and Middle East region, and also connects via east Africa with other subsea cables for expanded connectivity to Asia. The parties have appointed Alcatel Submarine Networks (“ASN”) to build the cable in a fully funded project which will greatly enhance connectivity across Africa and the Middle East. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200514005389/en/ At 37,000km long, 2Africa will be one of the world’s largest subsea cable projects and will interconnect Europe (eastward via Egypt), the Middle East (via Saudi Arabia), and 21 landings in 16 countries in Africa. The system is expected to go live in 2023/4, delivering more than the total combined capacity of all subsea cables serving Africa today, with a design capacity of up to 180Tbps on key parts of the system. 2Africa will deliver much needed internet capacity and reliability across large parts of Africa, supplement the fast-growing capacity demand in the Middle East and underpin the further growth of 4G, 5G and fixed broadband access for hundreds of millions of people. In countries where the 2Africa cable will land, service providers will obtain capacity in carrier-neutral data centres or open-access cable landing stations on a fair and equitable basis. This will support healthy internet ecosystem development by facilitating greatly improved accessibility for businesses and consumers alike. The 2Africa cable has been designed to improve resilience and maximise performance, including the option of a seamless optical crossing between East Africa and Europe. The 2Africa parties and Airtel have signed an agreement with Telecom Egypt to provide a completely new crossing linking the Red Sea and the Mediterranean, the first in over a decade. This includes new cable landing stations and deployment of next-generation fibre on two new, diverse terrestrial routes parallel to the Suez Canal from Ras Ghareb to Port Said, and a new subsea link that will provide a third path between Ras Ghareb and Suez. The 2Africa cable will implement a new technology, SDM1 from ASN, allowing deployment of up to 16 fibre pairs instead of the eight fibre pairs supported by older technologies, bringing much greater and more cost-effective capacity. The cable will incorporate optical switching technology to enable flexible management of bandwidth. Cable burial depth has also been increased by 50% compared to older systems, and cable routing will avoid locations of known subsea disturbance, all helping to ensure the highest levels of availability. http://mrem.bernama.com/viewsm.php?idm=37410
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-- Demand Surges for Advance Class Gas Turbines -- YOKOHAMA, Japan, May 20 (Bernama-BUSINESS WIRE) -- Mitsubishi Hitachi Power Systems (MHPS) ranks first in market share by megawatts for gas turbine orders in 2020 according to data obtained from McCoy Power Reports. First quarter global orders of 2,638 MW brought MHPS’ market share to 28.5 percent globally. This increase in gas turbine market share was largely responsible for worldwide order booking increasing 19.7 percent during MHPS’ fiscal year ending March 31, 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200519005485/en/ “The extremely competitive global gas turbine market has moved in our direction with a clear preference for our JAC gas turbines, which are more reliable than competitor’s gas turbines while providing record-setting fuel efficiency and output,” said Ken Kawai, MHPS President and Chief Executive Officer. “Sales of MHPS’ gas turbines in both the advanced class and aero-derivative segments have gained momentum as utilities, independent power producers and municipalities around the world seek to lower their electricity cost through our unique combination of proven reliability and world class performance.” MHPS’ J-Series gas turbines first entered commercial operation in 2011 and hold world-record reliability at 99.5%. In addition, they deliver combined cycle efficiency greater than 64%. The installed fleet of J-Series gas turbines recently achieved one million hours of commercial operation worldwide, which is nearly double that of competitors’ similar sized gas turbines. Boosting MHPS’ first quarter 2020 market share was an order for the first two renewable-hydrogen-capable JAC gas turbines for the Intermountain Power Agency in Delta, Utah. Dan Eldredge of the Intermountain Power Agency said, "We chose MHPS' JAC power trains because they offered the best overall solution for our power generation equipment requirements, including the fuel flexibility that will enable us to meet our incremental goals toward 100% carbon-free power generation by 2045. With MHPS' tools and support, we expect to reliably provide cleaner power for decades to come." Forty-five J-Series gas turbines are in commercial operation, and total ordered capacity exceeds 25 GW globally. One hundred and four units have been technically selected in Brazil, Canada, Japan, Mexico, Peru, South Korea, Taiwan, Thailand, and the United States. “The marketplace has recognized our efforts through a wave of technical selections and orders placed,” said Junichiro Masada, Senior Vice President, Co-Chief Technology Officer, and Deputy Head of Turbomachinery Headquarters, MHPS. “And we continue to improve our technology. For example, we recently synced to the grid in Takasago, Japan, and reached full load with the latest 60 Hz enhancement of the JAC, demonstrating record-setting output and combined cycle efficiency. Competitors are years away from entering operation with a gas turbine of this size or efficiency. In addition, we recently demonstrated a significant performance enhancement of the FT4000 at our test facility in West Palm Beach, Florida.” The FT4000 aero-derivative gas turbine, with multiple active projects in North America and internationally, has tripled its global footprint in the past two years and captured significant market share in its class since the purchase of PW Power Systems (PWPS) in 2013. The PWPS FT4000 first entered commercial operation in 2015 and delivers industry-leading simple cycle efficiency, start time and ramp rate. “We are proud that our technology has launched us to global leadership in the competitive gas turbine market,” said Ken Kawai, President and Chief Executive Officer. “We value the contributions of our employees around the world who are focused on bringing advanced technologies and energy solutions to the marketplace for affordable and reliable power supplies. We remain committed to enabling a decarbonized economy and helping to resolve the challenges facing our global society.” About Mitsubishi Hitachi Power Systems, Ltd. Mitsubishi Hitachi Power Systems, Ltd. (MHPS), headquartered in Yokohama, Japan, is a joint venture formed in February 2014 by Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd. integrating their operations in thermal power generation systems and other related businesses. MHPS recently announced that its name will soon change to Mitsubishi Power. MHPS today ranks among the world’s leading suppliers of equipment and services to the power generation market, backed by 100 billion yen in capital and approximately 20,000 employees worldwide. The Company’s products include GTCC (gas turbine combined-cycle) and IGCC (integrated coal gasification combined-cycle) power plants, gas/coal/oil-fired (steam) power plants, boilers, generators, gas and steam turbines, geothermal power plants, AQCS (air quality control systems), power plant peripheral equipment and solid-oxide fuel cells (SOFC). For more information, please visit the Company's website at https://www.mhps.com. Follow us at https://twitter.com/MHPS_Global, or http://www.linkedin.com/showcase/mhps View source version on businesswire.com: https://www.businesswire.com/news/home/20200519005485/en/ Contact Naoya Kanamura Deputy Manager Corporate Communications Group Mitsubishi Hitachi Power Systems, Ltd. Mobile: +81-(0)80-9592-0069 E-mail: [email protected] Source : Mitsubishi Hitachi Power Systems, Ltd. --BERNAMA SINGAPORE, May 21 (Bernama-BUSINESS WIRE) -- Last mile delivery and social commerce are expected to revolutionise consumers’ interactions with brands in Asia Pacific (APAC) in 2020, according to global market research company Euromonitor International.
In its new whitepaper “Top 100 Retailers in Asia 2020” Euromonitor looks at how the APAC region continues to accelerate as an innovation hub for retailing. With 2 billion internet users solely in APAC in 2019, social commerce sales reached USD2 trillion and is expected to double by 2024. While Millennials and Generation Z mostly contributed to the rise of social commerce, digital marketplaces in APAC enabled companies to rapidly pivot onto omnichannel strategies. This acceleration amplified with the COVID-19 outbreak, allowed retailers to rapidly adapt in multiple innovative ways, such as contactless delivery. “With the heavy shift to e-commerce in the height of COVID-19, retailers with a stronger digital presence prior to the outbreak are likely to fare better as consumers lean more into that channel,” says Deepika Chandrasekar, senior research analyst at Euromonitor International. “Concepts like last mile delivery, omnichannel and click-and-collect were accelerated by the pandemic, and are likely to stay afterwards,” added Clare Lee, research analyst at Euromonitor International. Euromonitor downgraded the baseline for the global real GDP growth to a range of - 4% to -1.5% in 2020 due to COVID-19, where emerging economies such as China, India and Indonesia are predicted to be badly hit. This crisis underscores the importance technology and social commerce play in how consumers live, work, shop and play. To download the free report, visit: https://bit.ly/3dOdSYE. About Euromonitor International Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. From local to global and tactical to strategic, our research solutions support decisions on how, where and when to grow your business. Find the right report, database or custom solution to validate priorities, redirect assumptions and uncover new opportunities. With offices around the world, analysts in over 100 countries, the latest data science techniques and market research on every key trend and driver, we help you make sense of global markets. http://mrem.bernama.com/viewsm.php?idm=37411 JOHOR BAHRU, Malaysia, May 20 (Bernama-GLOBE NEWSWIRE) -- In March 2020, Country Garden Real Estate (CGRE) successfully issued three tranches of Islamic Sukuk for a total of MYR495 million, with the longest tenure among them being seven years. Following the recent crisis of global financial markets due to the COVID-19 outbreak. These issuances are the reflection of the positive reception of the Company's most significant project, “Forest City”, as well as the demonstration of confidence that Malaysian capital markets have in both Country Garden Group and CGRE’s long term growth in Malaysia.
This is also shown by RAM Ratings that in Sep 2019 reaffirmed the AA3/Stable rating of CGRE’s Islamic Medium-Term Note (IMTN) Program. Malaysia is currently one of the biggest markets for Islamic finance in the world. Sukuks are Islamic financial certificates (similar to a bond), that complies with Islamic religious law commonly known as Syariah. Sukuks had become extremely popular since 2000 when the first Sukuk was issued by Malaysia. CGRE’s IMTN Programme was set up in 2015, which was first ever Ringgit Sukuk issued by a China-related corporate entity. It was bestowed with the Triple-A Islamic Finance Awards 2016 by The Asset and the League Awards 2016 by RAM. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/56c601e4-cb10-49d1-b88c-82d956544843 Forest City Johor, which is located adjacent to Singapore and situated in the Iskandar Special Zone of Johor, is currently the Group’s largest overseas project. To this date, the basic infrastructure of the Forest City has already been developed in scales. At present, Forest City Johor has completed and has been starting to operate two hotels, a Commercial Street, a Water Theme Park, the American Shattuck St Mary International School, an Industrial Building System (IBS) factory, and two 18-hole international golf courses. Moving forward, Forest City will continue its focus on sustainability, creating greater economic vitality for the region, enhancing regional value, and introducing industries stable and healthy development for the city. The introduction of large scale high-tech and scientific research institutions will improve the potential of the city's sustainable development. Forest City Johor has won many awards and recognitions for promoting Malaysia's economic growth. In 2019, Forest City was granted with the CSR award by former Prime Minister of Malaysia Tun Dr. Mahathir Mohamad and with the National Community Contribution to Strategic Friendship and Collaboration for its PPR projects and past CSR contributions to the community. Country Garden Malaysia has considerable liquidity and a healthy balance. Sales have remained resilient across all projects, and they are in line with the Group’s encouraging recent announcement of its financial performance report. In 2019, the Group (including joint ventures and associates) achieved contracted sales attributable to shareholders of CNY552.2 billion, which represents a year-on-year increase of 10.03%. The Group's total revenue rose by 28.2% YoY to CNY485.91 billion. Moving forward, the Group confirms its positive long-term outlook, planning to explore more investment opportunities in Malaysia. About Country Garden Forest City Forest City was developed in collaboration with Country Garden. Located in the rapidly expanding Iskandar Malaysia Development Region, it adds another important source of economic growth in ASEAN. Forest City Johor focuses on the sustainable development of 8 industries: Tourism & MICE, Healthcare, Education & Training, Regional Headquarters, Coastal Finance, E-commerce, New Technology Development, and Green and Smart Technology. Designed to be a technology-driven living and working place, Forest City is the smart city model for the future. Media Contact Company Name: Forest City Telephone: +607 505 8888 Address: Jalan Forest City 1, Forest City, Pulau Satu, 81500 Johor Bahru, Johor, Malaysia Website: https://forestcitycgpv.com/ SOURCE : COUNTRY GARDEN PACIFICVIEW SDN. BHD. GREENWICH, Conn., May 19 (Bernama-BUSINESS WIRE) -- Interactive Brokers Group, Inc. (Nasdaq:IBKR) today announced the launch of its new Mutual Fund Marketplace, which offers availability to more than 25,000 mutual funds, including over 21,000 no load and 8,300 no transaction fee funds, from more than 290 fund families. The marketplace, which can be visited at ibkr.com/funds, is available to residents in over 200 countries and territories.
“The Interactive Brokers Mutual Fund Marketplace is now the largest, single source of no-load mutual funds,” said Steve Sanders, EVP of marketing and product development. “Our marketplace also has lower costs, if not the lowest, on our massive inventory of mutual funds.” Clients can select from thousands of free mutual funds or pay just € 4.95 (or equivalent) per trade.** Sanders also noted that, unlike many competitors, Interactive Brokers never charges a custody fee. Moreover, Interactive Brokers’ Mutual Funds Marketplace includes products exclusively from outside companies. “Instead of pushing proprietary funds like Fidelity, Vanguard, Schwab and others do, Interactive Brokers is product neutral,” Sanders said. “We have a fantastic variety of fund families available in our agnostic marketplace.” To facilitate searching the massive marketplace, this week Interactive Brokers also introduced a Mutual Fund Search Tool to let clients and non-clients search products and sort by their country of residence, commission charged, fund type and fund family. In addition to mutual funds, Interactive Brokers clients can invest in stocks, options, futures, forex, bonds, and ETFs in 135 markets in 31 countries from a single integrated account. “Interactive Brokers has always focused on providing advanced technology, superior pricing and breadth of product worldwide. We have now built the largest no-load mutual funds marketplace to help investors enjoy increased access to global markets and greater diversification,” Sanders said. Residents of Australia, Hong Kong, Japan, and Singapore will not have immediate access to the marketplace but should check back for availability. Access is not available to residents of sanctioned countries or territories. http://mrem.bernama.com/viewsm.php?idm=37384 SINGAPORE, May 19 (Bernama-BUSINESS WIRE) -- Multi-award-winning AI and Big Data technology leader Fusionex has clinched a contract with one of the region’s largest oil and gas companies to implement a data-driven digital platform to enhance customer experience.
The client is a global energy company, ranked amongst the largest corporations on Fortune Global 500 with over 1,000 gas stations. Known for their oil and gas ventures, their other portfolio includes conventional and unconventional resource exploration and production as well as a diverse range of fuel lubricant and petrochemical products. This initiative comes amidst the volatile landscape and economic shock the oil and gas industry is facing. As manual, physical and conventional means no longer suffice, the need for digital transformation never been greater. Digital innovations that are being put in place must be executed at an accelerated pace to meet the needs of the new normal, with operations, infrastructure and processes rethought, restrategized and reimagined. mrem.bernama.com/viewsm.php?idm=37380 KUALA LUMPUR, May 18 -- AKWEL, the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, has posted consolidated turnover of €273.5 million in the first quarter of 2020. (€1 = RM4.714).
The turnover was down by -6.6 per cent compared to the first quarter of 2019, and it was also down by 5.9 per cent when comparing like-for-like figures, including an exchange rate impact of €2.3 million, according to a statement. This quarterly performance reveals two very contrasting trends: significant growth in business in the first two months of the year (+4.0 per cent), followed by a sharp decline in March (-27.5 per cent) with steep falls in the automotive market as a result of the COVID-19 crisis. Under these exceptional conditions, AKWEL has largely outperformed its market (with global production down by 23.6 per cent over the same period) due to its dynamism at the start of the year and low level of exposure to the Chinese market. In addition, the net financial debt (excluding IFRS 16) has fallen by €24.2 million since Dec 31, 2019, due to record cash flow generation during this quarter. In this time of crisis, AKWEL attaches particular importance to preserving its financial resources and has succeeded in once again generating major cash surpluses during April. It already appears that the second quarter will be more difficult than the first, with more heightened and global exposure to the crisis except in China, where the group’s three sites have already resumed their activities since mid-March. With its capacity for fast decision-making and adaptation, its effective strategic model and a particular strong financial position, AKWEL is well placed to come through this unprecedented crisis in the automotive market. -- BERNAMA Part of $2.6 Billion Total Capital Raise for Specialized Direct Lending Strategy
Market-Leading Platform Focused on Senior Loans WASHINGTON, May 19 (Bernama-BUSINESS WIRE) -- EIG Global Energy Partners (EIG) announced today the successful final close of EIG Global Project Fund V (GPF V or the Fund) with total commitments of $1.1 billion, nearly 50% higher than the Fund’s $750 million target. EIG also raised an additional $1.5 billion of commitments in the form of separately managed accounts that will invest alongside GPF V. In total, since the first closing of GPF V in July 2019, EIG has raised $2.6 billion of commitments for its direct lending strategy. GPF V is a continuation of EIG’s platform for energy and infrastructure direct lending that invests across the full energy, midstream, power, renewable energy and infrastructure complex on a global basis. More than 70% of the strategy’s capital commitments are from investors domiciled outside of the U.S., reflective of the global nature of EIG’s business. EIG CEO R. Blair Thomas said, “We are pleased to close GPF V with continued support from our sophisticated global investor base. Our fundraising success in the current environment is a strong testament to our investors’ enduring trust in our ability to identify and execute on attractive opportunities across the global energy and infrastructure value chain. Capital is oxygen to the energy industry, and GPF V is poised to help meet the robust capital demand for energy and infrastructure projects. In a time of tremendous upheaval, our proven capital-raising and origination capabilities and our global platform position us well for the future.” EIG President Randy Wade said, “GPF V allows EIG to build on our 20-year track record in direct lending. With demand for capital high and many traditional sources of capital retreating, the Fund is seeking opportunities in the global transition away from traditional hydrocarbons toward more sustainable energy production. We believe our specialized approach and disciplined underwriting with a focus on sector diversity should position us to continue to generate strong returns through market cycles.” EIG’s placement agent for GPF V was Credit Suisse; Kirkland & Ellis served as legal counsel. About EIG Global Energy Partners EIG Global Energy Partners (EIG) is a leading institutional investor to the global energy sector with $22.4 billion under management as of March 31, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 38-year history, EIG has committed over $33.7 billion to the energy sector through 360 projects or companies in 36 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20200518005102/en/ Contact Sard Verbinnen & Co. Kelly Kimberly / Brandon Messina [email protected] Source : EIG Global Energy Partners BUTTERWORTH, May 18 (Bernama) -- The COVID-19 pandemic has proven to affect performance, communications and collaborations. Businesses, especially SMEs must adapt and leverage on technology in restarting their operations. Operion Ecommerce & Software Sdn Bhd is conducting free online workshop on e-commerce website to help companies affected by COVID-19 crisis to fast track recovery.
KUALA LUMPUR, May 19 -- Teledyne is supplying high performance charged coupled devices (CCDs) for COVID-19 diagnostic scientific instruments.
“The Coronavirus outbreak has triggered increased demand and interest for CCD and CMOS sensors. We expect to have manufactured several times the forecasted annual demand for the CCD77-358 devices by the end of this quarter alone,” said Teledyne e2v Space & Quantum President, Miles Adcock. These highly sensitive image sensors are used for low-light imaging applications such as microscopy and other scientific imaging techniques deployed for research and diagnostic testing of COVID-19. In the past few weeks, the UK CCD Fabrication team has been producing hundreds of CCD77-358 devices that will be designed into camera systems to support COVID-19 diagnostics. The CCD77-358 sensor is back-illuminated and has an image resolution of 512 x 512 pixels, a large pixel size of 24µm in size and high dynamic range, according to a statement. Testament to the resilience of CCD technology in the most demanding applications, Teledyne is committed to the provision of a long-term vertically integrated, dedicated CCD fab and continues to make technology developments to the design and production of CCDs. Teledyne e2v is a part of the Teledyne Imaging group. Their innovations lead developments in healthcare, life sciences, space, transportation, defence and security, and industrial markets. -- BERNAMA |
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