Day: November 1, 2022

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Maait: Egyptian economy has become more attractive to investments

Minister of Finance, Mohamed Maait, confirmed that the Egyptian economy has become more attractive to foreign investments, as a result of perfect implementation of the economic reform program, which was praised by international financial and rating institutions.

 

Maait affirmed, during his meeting with Dominic Goh, the Singaporean ambassador in Cairo, that Egypt is keen to enhance joint cooperation and exchange experiences in port management and the development of the customs system, and to benefit from the Singaporean experience after Singapore has become a global center for logistics services, especially in light of the efforts made by the government in implementing the national project to develop and digitize the customs system.

 

 

 

Source: State Information Service Egypt

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Joint Egyptian-Jordanian military drill Aqaba 7 kicks off

Units from the Egyptian and Jordanian Armed Forces on Monday 31/10/2022 started conducting the Egyptian-Jordanian military drills, named “Aqaba 7”.

The exercise, carried out in Egypt’s Southern Military District, is held in continuation of a series of joint drills between the two countries’ armed forces to strengthen cooperation and raise military combat capabilities and readiness to face regional challenges.

“Aqaba 7” will last until November 9 with the participation of the Egyptian and Jordanian maritime, ground, and Special Forces. Several practical and theoretical lectures will also be held during the training.

The military drill is one of the most essential exercises held between the two countries with the aim to boost military cooperation between the armed forces.

 

 

 

Source: State Information Service Egypt

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Egypt condoles with Philippines over victims of tropical storm

Egypt has condoled with the Philippines over victims of the tropical cyclone, Paeng, and floods that hit the country.

The storm and floods left dozens of people dead, wounded and missing.

A statement by the Foreign Ministry on Tuesday said that the government and people of Egypt condole with the government and people of the Philippines.

Egypt wished the injured a speedy recovery and hoped the missing persons would be rescued very soon.

 

 

Source: State Information Service Egypt

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Sisi arrives at Arab Summit’s venue in Algeria

Egyptian President Abdel Fattah El Sisi on Tuesday evening  1/11/2022 arrived at the International Conference Center “Abdullatif Rahal” in Algiers, the venue of the 31st Arab Summit.

President Sisi was welcomed by his Algerian counterpart Abdelmadjid Tebboune upon his arrival at the summit’s venue.

 

 

Source: State Information Service Egypt

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VAPORESSO Readies XROS 3 for Early December Release

SHENZHEN, China, Nov. 1, 2022 /PRNewswire/ — VAPORESSO, a world-leading vaping brand, will launch its latest products, the XROS 3 and XROS 3 Mini, on 28th October on its official website, which is predicted to be sold in early December. The Company recently showcased the new model at the two-day Vapexpo in Paris.

The XROS series has built up a worldwide following as one of the most reliable and powerful vape products available on the market. The Company has sold in excess of 40 million units since launching the series in 2020. The XROS has also picked up multiple plaudits for its innovative and trendy design, including a prestigious Red Dot Award in 2022 and multiple Muse Design Awards.

“In keeping with our company spirit of ‘Cross the Limit’, the XROS series continues to push back the boundaries in terms of what a vaping product can bring to customers,” said Thalia Cheng, chief marketing officer of VAPORESSO. “We built the XROS 3 with our customers in mind, allowing them to enjoy our leading vape product performance and an aesthetic that is universally celebrated.

Packed with a 1,000 mAh high-density battery, the XROS 3 provides users with a solid and reliable vaping solution that can be used for 48 hours on a single charge. Type-C charging ensures greater convenience, while the draw activation ensures the product won’t malfunction in users’ pockets.

The product comes with a sleek rounded design that ensures the mouthpiece fits perfectly between the user’s lips, providing an accurate MTL experience. The round-edge bottom of the vape delivers a modern and timeless design. Additionally, the neon indicator to show how much battery power is left combines aesthetics with function to provide users with comfort and practicality.

The XROS 3 also features the COREX Heating technology for rapid and even heating, a precise adjustable airflow, and VAPORESSO’s SSS technology to prevent leakage. In addition to no leakage, the design means users can top-fill the vape without needing to remove the head, allowing them to easily switch between Tight MTL to Restricted DTL pods.

About VAPORESSO

VAPORESSO was created in 2015 and is dedicated to establishing a smoke-free world while raising the quality of life for its users. Based on its continuous innovation, strict quality control, and substantial commitment, VAPORESSO creates products that can fit all levels and styles of vapers.

[email protected]

Photo – https://mma.prnewswire.com/media/1934840/Xros3.jpg
Logo – https://mma.prnewswire.com/media/1847940/OV_1__2_Logo.jpg

 

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CGTN: China, Vietnam chart course for bilateral ties  

BEIJING, Nov. 1, 2022 /PRNewswire/ — China has welcomed the first foreign leader to visit the country since the conclusion of the 20th National Congress of the Communist Party of China (CPC) — General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong.

At the invitation of Xi Jinping, general secretary of the CPC Central Committee and Chinese president, Trong is on an official visit to China which began on October 30.

During their talks on Monday, the two leaders vowed to make joint efforts in promoting the China-Vietnam comprehensive strategic cooperative partnership in the new era to a new level.

A visit showing solid friendship

Noting that Trong is the first foreign leader he has met since the 20th CPC National Congress and this is Trong’s first trip abroad since the 13th National Congress of the CPV, Xi said that it fully shows the great importance the two sides attach to developing relations between the two countries and the two parties.

Xi also presented the Friendship Medal of the People’s Republic of China (PRC) to Trong, saying that the medal represents the profound friendship of “comrades plus brothers” between China and Vietnam.

The award is presented to those who support the country’s modernization, promote exchanges between China and the world and safeguard world peace.

Trong said that he has fulfilled his promise to Xi that he would visit China for his first international visit following his re-election as General Secretary of the CPV in January 2021.

Five years ago in November, Xi chose Vietnam as his first overseas destination after the 19th CPC National Congress.

The Vietnam News Agency said that Trong’s trip is a reciprocal visit, which aims to “affirm Vietnam’s consistent policy of attaching importance to relations with China as a top priority.”

A visit charting the course for bilateral relations

The two leaders agreed to continuously advance socialist modernization, align development strategies, and promote cooperation in various areas, such as medical and health care, green development, digital economy and climate change.

For the cause of socialism and China-Vietnam relations, adhering to the correct political direction is paramount, Xi said.

Highlighting the two sides should consolidate the socialist economic foundation, he said China is ready to synergize its development strategies with Vietnam.

China regards the Association of Southeast Asian Nations (ASEAN) as a priority in its neighborhood diplomacy and a key region in high-quality Belt and Road cooperation, and attaches importance to Vietnam’s role in the ASEAN, Xi said.

Trong said that Vietnam is willing to further synergize the “Two Corridors and One Economic Circle” and the Belt and Road Initiative (BRI).

Despite impacts of the COVID-19 pandemic and geopolitical upheavals in the world, Vietnam is China’s largest trading partner in the ASEAN and the sixth largest in the world, with bilateral trade exceeding $230 billion in 2021.

In July, China and Vietnam agreed to further strengthen the docking of development strategies and speed up cooperation under the BRI and the “Two Corridors and One Economic Circle” plan.

The “Two Corridors and One Economic Circle” plan is an initiative to boost regional economic cooperation between China and Vietnam. It involves several areas in southern and southwestern China and northern Vietnam.

During their talks, Trong also stressed that his country firmly adheres to one-China policy, firmly opposes any form of separatist activities seeking “Taiwan independence,” and will not develop any official relations with Taiwan.

Vietnam does not allow any country to establish a military base on its territory, does not join any military alliance, does not use force against any country, and does not unite with one country against another, he said.

Following the talks, the two leaders witnessed the signing of cooperation documents on political parties, economy and trade, environmental protection, culture and tourism, justice, customs and local affairs.

https://news.cgtn.com/news/2022-10-31/Xi-holds-talks-with-Vietnam-s-communist-party-chief-in-Beijing-1eAbvfKZw0E/index.html

Video – https://www.youtube.com/watch?v=ulBbFiEYwpA

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INDONESIA EFFORTS TO CREATE SUSTAINABLE AGRICULTURE ECOSYSTEM THROUGH MAKMUR PROGRAM

  • Makmur Program initiated to help farmers to increase their income and productivity through comprehensive and sustainable technical assistance and agriculture cultivation.
  • An ecosystem made up of a collaboration between state-owned companies to create full-service opportunities for farmers and agricultural stakeholders
  • A planting area of 250 thousand hectares targeted, with several priority commodities such as rice, corn, sugar cane, oil palm, and coffee

JAKARTA, Indonesia, Nov. 1, 2022 /PRNewswire/ —  The Minister of State Owned Enterprises (SOE) of the Republic of Indonesia, Erick Thohir, initiated the Makmur Program since 2021 to help farmers to increase their income and productivity in Indonesia through comprehensive and sustainable technical assistance and agriculture cultivation.

Makmur Program is a collaboration of Indonesian state-owned companies in the Food and Fertilizers, Plantation and Forestry, Financial Services, and Insurance clusters which provides on-farm and off-farm technical assistance.

Makmur is an agriculture ecosystem which connects farmers and agriculture stakeholders from upstream to downstream which aligns with the G20 agenda, specifically continuation of economic growth from the impact of the Covid-19 pandemic.

“The progression of the Makmur program is something we should keep our eyes on. As directed by the President, I will ensure that SOEs will play a role in supporting farmers and providing solutions, to level up their productivity and prosperity,” said Minister Thohir.

The ecosystem is a collaboration of state-owned companies in the Food and Fertilizers, Plantation and Forestry, Financial Services, and Insurance clusters. The Minister of SOEs supported Makmur by establishing a Project Management Office (PMO) led by Indonesia Food Holding Company (ID FOOD).

In addition to establish this ecosystem, Minister Thohir explained that Makmur also provides on-farm and off-farm technical assistance. On farm control consists of agro inputs such as fertilizers, seeds, pesticides. There is also support for soil analysis, fertilizer recommendations, agronomic and cultivation assistance, to the application of agricultural technology.

Off-farm assistance includes farmers receiving access to capital (banking loans to distributor financing), agricultural risk protection (insurance), licensing support and guidance from local governments, guarantees for buyers of crops from partners (off takers) with competitive prices, provision of training and capacity building.

This program is a comprehensive solution for the agricultural sector in Indonesia as previously, Indonesian farmers faced many problems, such as limited access to information, capital, markets, and technology required. In addition, some farmers have not implemented agricultural cultivation practices leading to low agricultural productivity and income.

The President Director of ID FOOD, Frans Marganda Tambunan, said that based on the combined data of state-owned companies until Semester I 2022, Makmur’s progress had been realized up to 60%. It has been implemented on areas of 184,305 hectares with a total of 84,431 farmers. This includes the realization of land expansion, supply of fertilizers, technical assistance, off-taking activity including the involvement of the private sector, and funding for People’s Business Credit from state-owned banks. Farmers experienced productivity and income improvement in all commodities.

This effort is intended to support the government in anticipating any potential food crisis. The program, a collaboration between ID FOOD as project leader with Pupuk Indonesia Holding Company (fertilizer sector), PTPN Holding Company (plantation sector), Perhutani (forestry sector), Bank Rakyat Indonesia and Bank Negara Indonesia (banking sector), Jasindo and Askrindo (insurance sector), Telkom Indonesia (telecommunication and media sector), and others stakeholders, provides access on-farm and off-farm assistances which will create a supportive ecosystem for agriculture stakeholders. “This synergy across SOEs is expected to mitigate a potential food crisis,” said Tambunan.

Meanwhile, President Director of Pupuk Indonesia Holding Company, Bakir Pasaman, revealed that the Makmur Program targets a number of agricultural crops, including rice, corn, sugar cane, oil palm, and coffee. This program has been implemented in many places across Indonesia, such as West Java, Central Java, East Java, South Sulawesi, Lampung, North Sumatra and West Nusa Tenggara. “We are targeting this program to cover 250,000 hectares in 2022,” said Pasaman.

Not only bringing benefits to farmers, Makmur also provides benefits to all stakeholders and partners involved. The government can also guarantee the availability of food commodities nationally.

Twitter : @pupuk_indonesia

YouTube : PT Pupuk Indonesia Official

Instagram : @pt.pupukindonesia

Photo – https://mma.prnewswire.com/media/1934684/JAR02233.jpg

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‫حصلت شركة رأس المال القيم المالية “Valuable Capital Financial Company” على الترخيص الأولي من هيئة السوق المالية بالمملكة العربية السعودية

الرياض، المملكة العربية السعودية – Media OutReach –  شركة Valuable Capital Financial (VCFC)، هي شركة تابعة للمؤسسة المالية الأولى التي تتخذ من هونغ كونغ مقرا لها (Valuable Capital Group Limited)، حصلت على الترخيص الأولي من هيئة السوق المالية (CMA) لتقديم خدمات التداول والمشورة والحفظ في المملكة العربية السعودية، مما يجعلها الشركة الأولى والوحيدة المرخصة في السعودية من آسيا.

ستبدأ شركة VCFC بممارسة العمل وتقديم الخدمات بمجرد الحصول على الترخيص النهائي.

تلتزم الشركة بتقديم خدمات التداول والاستشارات وحفظ الأصول لتعزيز المستثمرين السعوديين وتشجيعهم لبناء محافظ استثمارية عالمية. كما أنه تم التخطيط جيدًا للمزيد من الخدمات المالية مثل إدارة الأصول، واستشارات الطرح الأولي للاكتتاب العام، والإيرادات الثابتة، ومن المتوقع إطلاقها بعد وقت قصير من الحصول على موافقة من هيئة السوق المالية.

تعد شركة VCFC، المسجلة أوائل هذا العام بالرياض، بمثابة مشروع مشترك بين مجموعة Valuable Capital Group Limited (VCGL) وشركة eWTP Arabia Capital. ومن المتوقع أن تساعد هذه الخطوة الاستراتيجية كلا الجانبين على تحقيق استراتيجية أعمالهما العالمية وتوسيع نفوذهما في منطقة الشرق الأوسط وشمال أفريقيا.

كما أن المبادرات المتنوعة والمتقدمة التي تطرحها VCFC لا تقتصر على تقديم حلول مالية تركيبية فحسب، بل تعزز أيضًا النفوذ الجغرافي والوطني للمملكة، وهو ما يهدف إلى تمكين البلاد من الحفاظ على دورها الرائد على مستوى العالم.

وتماشيًا مع رؤية 2030، فإن الخدمات الموجودة والمتوقعة تهدف إلى لفت انتباه المستثمرين وأصحاب المصلحة العالميين وكسب اهتمامهم، وسد الفجوة أيضًا في السوق المالية المحلية.

صرح جيس تشونغ، المؤسس المشارك لمجموعة Valuable Capital Group Limited، قائلاً: “لقد شهدنا ابتكارًا مثيرًا للإعجاب في مجال التكنولوجيا المالية ونموًا قويًا في سوق رأس المال في منطقة الشرق الأوسط وشمال إفريقيا، خاصة في السوق السعودية، التي تتمتع بمواهب رائعة إلى جانب السيولة الوفيرة في السوق”.

Valuable Capital Group Limited هي مجموعة رائدة في تزويد الحلول المالية القائمة على التكنولوجيا والتي تأسست في هونغ كونغ، وتقدم خدمات مالية شاملة لملايين من أفراد التجزئة والعملاء من المؤسسات والشركات على مستوى العالم. تم تصنيف الشركة التابعة لها، Valuable Capital Limited، كثاني أفضل وسيط عبر الإنترنت في سوق الأسهم في هونج كونج حسب القيمة الافتراضية في عام 2020، وفقًا لتقارير CIC. كما رسخت المجموعة تواجدها في جميع الأسواق الرئيسية، بما في ذلك منطقة هونغ كونغ الإدارية الخاصة، وبر الصين الرئيسي، والولايات المتحدة، وسنغافورة، وأستراليا، ونيوزيلندا.

وفقًا لتقرير (EIU)، ستكون المملكة العربية السعودية الأسرع نموًا بين أكبر اقتصادات العالم في عام 2022. كما تحظى الأسواق المالية والتجارية للمملكة بشعبية متزايدة، مع زيادة النشاط التجاري داخل البلاد.

صرح جيري لي، الشريك الإداري لصندوق eWTP Arabia Capital، قائلاً: “تتمتع السوق المالية في المملكة العربية السعودية بإمكانات هائلة مع نموها السريع. وتتطلب انخراط مجموعة واسعة من المؤسسات والمنصات المالية ومشاركتها لتلبية الطلب بصورة كاملة. ونعتقد أن شركة VCFC مستعدة لتوفير عروض خدماتها القائمة على التكنولوجيا والبيانات الضخمة التي أثبتت جدواها من الأسواق الأخرى إلى المملكة، وخدمة القطاع المالي السعودي مع شركائها المحليين”.

صندوق eWTP Arabia Capital (“eWTPA”)، أحد المساهمين في شركة VCFC، هو عبارة عن صندوق استثماري في مرحلة النمو مقره في المملكة العربية السعودية والصين. وهو مدعوم من كبار المستثمرين – مثلeWTP Capital، وصندوق الثروة السيادية للمملكة العربية السعودية، وصندوق الاستثمارات العامة (PIF). ومن خلال صندوقه الأول الذي تبلغ قيمته 400 مليون دولار؛ استثمر eWTPA في 16 شركة في القطاع الرقمي، حيث أثبتت 13 شركة منها نجاحها بالفعل في المملكة العربية السعودية. وتشمل تلك الاستثمارات كلاً من الشركة السعودية للحوسبة السحابية الناجحة بشكل كبير، وهي المزود الرائد للخدمات السحابية في المملكة، وشركةJNT Express KSA، والتي تعد الآن المزود اللوجستي الأسرع نموًا في البلاد.

يجمع التعاون بين الخدمات المالية الرائدة لدى مجموعة VCGL وقاعدة رأس المال القوية لدى صندوق eWTPA، الأمر الذي يترتب عليه منح شركة VCFC مزايا تنافسية فريدة لإنشاء منصة قوية توفر خدمات استثمارية متكاملة ومتعددة الأسواق و الأصول وتساهم في استراتيجية التكنولوجيا المالية ضمن رؤية المملكة 2030.

للاتصالات الإعلامية:

Miya Chen

[email protected]

86-13713738704+

Xiaolei Ao

[email protected]

86-18520801105+