Global Business Magazine https://thegbm.com Business news, opinion, reviews, interviews Thu, 03 Sep 2026 04:44:31 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://thegbm.com/wp-content/uploads/2021/07/Bizmag-logo.png Global Business Magazine https://thegbm.com 32 32 195744517 China’s slowdown pushes New Zealand exporters to diversify away from their top buyer, RBNZ official tells CNBC https://thegbm.com/chinas-slowdown-pushes-new-zealand-exporters-to-diversify-away-from-their-top-buyer-rbnz-official-tells-cnbc/ Thu, 03 Sep 2026 04:44:31 +0000 https://thegbm.com/chinas-slowdown-pushes-new-zealand-exporters-to-diversify-away-from-their-top-buyer-rbnz-official-tells-cnbc

BEIJING, CHINA – JUNE 19: The national flags of China and New Zealand flutter at Tian’anmen Square on June 19, 2025 in Beijing, China. Prime Minister of New Zealand Christopher Luxon pays an official visit to China from June 17 to 20.
Wang Xin | Visual China Group | Getty Images

New Zealand’s exporters are diverting shipments originally bound for China into other markets as demand from the country’s biggest trading partner cools, an official from the antipodean country’s central bank said Thursday.

“We’ve certainly seen many of our exporters looking at, and actively diverting, product that they would have been looking to put into China, into other markets as well,” said Karen Silk, assistant governor at the Reserve Bank of New Zealand. “It is not the only export market.”

Silk’s remarks reflect how the slowdown in China’s economy has rippled through to businesses elsewhere. Growth in the world’s second-largest economy slowed to multi-year lows in the second quarter, weighed down by tepid domestic demand and a prolonged real estate slump. She spoke to CNBC’s “Squawk Box Asia” on Thursday, a day after the central bank delivered its second consecutive interest rate hike to curb inflation.

China has been New Zealand’s largest trading partner and top market, buying roughly a quarter of New Zealand’s total exports over the 12 months ending in July. New Zealand’s China-bound goods in 2025 were close to double that of the next two biggest export markets — the U.S. and Australia — combined, according to the New Zealand China Council.

New Zealand supplies more than half of China’s dairy imports, a dominance built under a bilateral trade agreement since 2008, that later granted duty-free access for all its dairy products in 2024. Any sustained pullback in Chinese demand tests how quickly that trade can be diversified.

The Middle East war and the resulting shipping disruption through the Strait of Hormuz drove up global commodity costs, further squeezing Beijing’s own appetite for commodity imports.

Elevated global commodity prices, including for wheat, have handed New Zealand’s pasture-based farmers a relative cost advantage even as China-bound volumes soften, Silk said.

“In some ways, New Zealand actually benefits from a price perspective when we have those supply factors going on globally,” she said.

The RBNZ raised its key interest rate by a quarter percentage point to 2.75% on Wednesday to combat inflation, and signaled another increase could follow by year’s end.

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By CNBC

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Sigenergy Ranks #1 Globally in S&P Global Energy H1 2026 Residential Energy Storage Market Tracker https://thegbm.com/sigenergy-ranks-1-globally-in-sp-global-energy-h1-2026-residential-energy-storage-market-tracker/ https://thegbm.com/sigenergy-ranks-1-globally-in-sp-global-energy-h1-2026-residential-energy-storage-market-tracker/#respond Thu, 03 Sep 2026 03:54:00 +0000 https://thegbm.com/sigenergy-ranks-1-globally-in-sp-global-energy-h1-2026-residential-energy-storage-market-tracker SHANGHAI, Sept. 02, 2026 (GLOBE NEWSWIRE) — Sigenergy has just secured the No. 1 global ranking by MWh shipments in S&P Global Energy’s Residential Energy Storage Market Tracker (H1 2026), capturing a leading 14% market share. This top-tier global recognition validates the company’s rapid worldwide expansion and user-led innovation across the residential energy storage sector.

Sigenergy

Multi-Regional Growth and Global Market Footprint
Sigenergy’s global leadership is propelled by balanced growth across key international territories rather than a single region. Backed by strong traction in Europe, resilient momentum in Oceania, and rebounding markets in Africa, the company secured top market positions across multiple countries.

To date, Sigenergy supports its worldwide customer base through a robust global network comprising over 170 distributors and 25,000+ registered installers spanning more than 120 countries.

Amid an accelerating global energy transition, Sigenergy capitalized on surging demand for distributed energy by executing its visionary “AI in All” strategy. During the first half of 2026, this strategy propelled the introduction of four major product breakthroughs: the next-generation SigenStor Neo all-in-one ESS, SigenFlux heat pumps, Sigen EVAC 2 smart EV chargers, and SigenMate micro energy storage systems.

Together, these innovations form a unified powerhouse capable of seamlessly generating, storing, optimizing, and protecting household energy.

AI Empowers Energy: Advancing the “AI in All” Global Strategy
In the first half, Sigenergy launched SigenAgent, the industry’s first full-domain AI agent designed to redefine AI-powered energy management. Its AI agent squad—Energy Manager, System Doctor, Power Trader and Business Assistant—supports key applications across home energy, power station O&M, power trading and enterprise energy management, making complex energy tasks simpler and more efficient.

Furthermore, the company globally rolled out mySigen App 4.0 powered with SigenAgent, enhancing intelligent energy management capabilities through AI algorithms and energy data analytics.

Continuous investment in R&D and technological accumulation further strengthens Sigenergy’s competitive foundation and supports sustainable long-term growth.

Smart Manufacturing Strengthens Global Delivery Capability
Following its Main Board listing on the Hong Kong Stock Exchange in April 2026, Sigenergy significantly strengthened its supply chain infrastructure:

The Nantong Smart Energy Hub, officially commissioned in March 2026, represents a major milestone in Sigenergy’s global intelligent manufacturing strategy. The facility supports annual production capacity exceeding 300,000 units of inverters and energy storage PACKs, integrating R&D, manufacturing and digital management capabilities.

In June 2026, construction kicked off for Phase II of the Nantong Smart Energy Hub as well as a joint-venture project for energy storage system structural components. Upon completion, these projects will further boost the company’s manufacturing strength, industrial chain synergy and global delivery capability.

Driven by its visionary “AI in All” blueprint and flexible modular product architecture, Sigenergy is leveraging its market-leading momentum to scale its global footprint across the entire energy spectrum—seamlessly expanding its advanced, AI-driven portfolio from household solutions to commercial and industrial (C&I) enterprises and utility-scale infrastructure.

About Sigenergy
Founded in 2022 and headquartered in Shanghai, Sigenergy (6656.HK) is a technology-driven company focused on innovation in the new energy sector. Leveraging advanced digital intelligence and a highly skilled talent base, the company has expanded across photovoltaic(PV)generation, smart energy storage and high-efficiency electric vehicle (EV) charging solutions.

Guided by its “AI in All” strategy, Sigenergy integrates artificial intelligence across its product ecosystem to deliver safer, smarter and more efficient energy solutions for households and businesses worldwide.

For more information, visit: www.sigenergy.com

Media Contact
Tracy Li Email: tracy.li@sigenergy.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2837cdb1-aa8d-4dfc-9034-8034d853ca2b.

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CGTN:From desert to opportunity: China-Egypt ties deepen across sectors https://thegbm.com/cgtn%ef%bc%9afrom-desert-to-opportunity-china-egypt-ties-deepen-across-sectors/ https://thegbm.com/cgtn%ef%bc%9afrom-desert-to-opportunity-china-egypt-ties-deepen-across-sectors/#respond Thu, 03 Sep 2026 03:53:00 +0000 https://thegbm.com/cgtn%ef%bc%9afrom-desert-to-opportunity-china-egypt-ties-deepen-across-sectors BEIJING, Sept. 02, 2026 (GLOBE NEWSWIRE) — CGTN publishes an article highlighting how China-Egypt cooperation has grown beyond industrial projects to encompass broader economic and strategic ties. The article spotlights the Suez Economic and Trade Cooperation Zone, growing Egyptian agricultural exports to China and the broader significance of the two countries’ 70-year relationship.

A decade after China and Egypt launched the second phase of their joint economic and trade cooperation zone in the desert along the Suez Canal, the area has grown into an industrial cluster of nearly 200 companies, creating about 10,000 jobs and becoming a tangible example of how bilateral cooperation can translate into local development.

The China-Egypt TEDA Suez Economic and Trade Cooperation Zone has attracted companies in building materials, petroleum equipment, electrical equipment and machinery, with cumulative investment exceeding $4.7 billion, according to the reports by People’s Daily. What was once undeveloped desert has become an industrial platform linking China’s Belt and Road Initiative with Egypt’s development strategy for the Suez Canal Corridor.

The transformation reflects a broader shift in China-Egypt ties, from individual infrastructure projects toward cooperation that connects investment, employment and markets. During talks with Egyptian President Abdel Fattah El-Sisi on Wednesday, Chinese President Xi Jinping said the two countries should deepen cooperation and continue advancing the building of a China-Egypt community with a shared future.

New engine of local development

The Suez zone has increasingly moved beyond conventional manufacturing, with solar projects and an emerging circular economy pointing toward greener and lower-carbon development. The expansion into new sectors has also brought more direct benefits to Egypt’s economy and workforce.

Chinese-invested projects have helped strengthen Egypt’s power supply, with a solar park substation project providing about 16,000 gigawatt-hours of electricity since completion, while Chinese companies have trained local engineers and workers, with some Egyptian employees moving into technical and management positions. At a joint venture between China XD Electric and Egyptian-owned EGEMAC, local employees account for 97% of the workforce.

Such cooperation is part of a broader model of mutually beneficial development. In a signed article published in Egyptian media ahead of Xi’s visit, he said China and Egypt should “pursue mutual benefit and win-win cooperation and set a benchmark for joint development.”

Egyptian products find a growing market in China

The relationship is increasingly running in both directions, with Egyptian products gaining greater access to China’s large consumer market.

China’s trade with Egypt reached 95.19 billion yuan ($14.16 billion) in the first seven months of 2026, up 18.7% year on year, Chinese official data shows. Chinese exports to Egypt rose 17.5%, while imports from Egypt jumped 49.4%.

Agricultural trade has been a particular growth area. China’s imports of Egyptian agricultural products rose 82.6% in the first seven months, accounting for 41.7% of China’s total imports from Egypt. Egypt was China’s largest source of frozen strawberries and third-largest source of flax, with the two products accounting for 96.7% and 7.7% of China’s respective imports.

Egypt, one of the world’s leading orange exporters, shipped fresh oranges worth about $26 million to China in 2025. An agricultural exporter who travels to China several times a year said strong demand for Egyptian oranges among Chinese consumers has encouraged producers to improve quality.

In an article, Egypt’s Al-Ahram newspaper said China’s zero-tariff measures for African products had opened access to a market of more than 1.4 billion people, while noting that lower tariffs alone would not guarantee success. Product quality, stable supply and localized marketing would remain important for Egyptian companies seeking to expand in China, the newspaper said.

Beyond bilateral ties

The significance of the relationship goes beyond trade and investment as China and Egypt mark 70 years of diplomatic ties. Egypt was the first Arab and African country to establish diplomatic relations with the People’s Republic of China, and the two countries have since expanded cooperation into culture, education, science and technology, health and other fields.

Xi has said China and Egypt set an example of friendship, solidarity and coordination between developing countries, noting that both are important members of the Global South.

Egypt’s position gives that partnership a wider regional dimension. As a major Arab and African country, it serves as a link between the Arab world and Africa, while China and Egypt coordinate in multilateral frameworks including the United Nations and BRICS.

At a time of persistent instability in the Middle East, Xi has also called for greater regional autonomy in security, comprehensive approaches to hotspot issues, development to underpin security and stronger international coordination.

https://news.cgtn.com/news/2026-09-02/From-desert-to-opportunity-China-Egypt-ties-deepen-across-sectors-1Q7mph80npS/p.html

CONTACT: Contact: CGTN Digital jiang.simin@cgtn.com

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Visure Solutions Delivers Purpose-Built EU Cyber Resilience Act Compliance for Regulated Manufacturers https://thegbm.com/visure-solutions-delivers-purpose-built-eu-cyber-resilience-act-compliance-for-regulated-manufacturers/ https://thegbm.com/visure-solutions-delivers-purpose-built-eu-cyber-resilience-act-compliance-for-regulated-manufacturers/#respond Wed, 02 Sep 2026 15:00:00 +0000 https://thegbm.com/visure-solutions-delivers-purpose-built-eu-cyber-resilience-act-compliance-for-regulated-manufacturers Visure provides the traceability, SBOM management, and signed baseline infrastructure for CRA compliance demands

SAN FRANCISCO, Sept. 02, 2026 (GLOBE NEWSWIRE) — Visure Solutions today announced its EU Cyber Resilience Act (CRA) compliance solution, enabling manufacturers of products with digital elements to meet every CRA obligation, from Annex I essential cybersecurity requirements and Article 14 vulnerability reporting through 10-year Annex VII documentation retention. The launch coincides with Article 14 reporting obligations activating on 11 September 2026, requiring manufacturers to report actively exploited vulnerabilities to the European Union Agency for Cybersecurity (ENISA) and national Computer Security Incident Response Teams (CSIRTs) within 24 hours.

“CRA compliance is not a one-time documentation exercise. It is a structured engineering process that runs from Day 1 of product design through the end of the support period,” said Fernando Valera, CTO at Visure Solutions. “Manufacturers who treat it as a documentation task will find themselves unable to respond to Article 14 incidents in time, unable to reproduce a historical baseline for a market surveillance audit, and unable to demonstrate a governed process to notified bodies.”

Transforming Fragmented Compliance into Governed Engineering

CRA obligations, from tracing each Annex I clause to a verified design decision and maintaining a machine-readable SBOM, to retaining evidence for 10 years and responding to vulnerabilities in 24 hours, are engineering process obligations, not documentation tasks. Without live traceability across the product lifecycle, compliance becomes a costly retrospective effort market surveillance authorities are unlikely to accept.

Displays end-to-end traceability across engineering disciplines and domain-specific toolchains for CRA obligations.

Visure ALM Integrated CRA Compliance Workflow: Displays end-to-end traceability across engineering disciplines and domain-specific toolchains for CRA obligations.

Visure’s platform maps directly to each CRA obligation, replacing fragmented tools with a single governed engineering environment. Through Visure, manufacturers can:

  • Trace Every Requirement to Evidence: Annex I clauses imported as structured items, linked to risks, design decisions, and verified tests via a live Traceability Matrix. Suspect links fire automatically on any upstream change.
  • Respond to Vulnerabilities with SBOM-Driven Traceability: When a Common Vulnerabilities and Exposures (CVE) entry is reported, blast-radius analysis surfaces every affected requirement, baseline, and product version instantly. Article 14 SLA deadlines of 24 hours, 72 hours, and 14 days are tracked live.
  • Generate Technical Audit Packs on Demand: The Annex VII evidence pack built continuously from engineering work and exported from a signed baseline in minutes via Word or ReqIF.
  • Sign Baselines, Freeze and Reproduce Any Release: Requirements pass through governed review workflows before entering electronically signed, immutable baselines, fully restorable years later for any market surveillance request.
  • Define Security Requirements with AI: Vivia (Visure Virtual Assistance), Visure’s on-premise AI engine, generates CRA-aligned requirement drafts from Annex I clauses in hours. Human sign-off is required before any baseline entry. Zero data leaves the customer environment.

“As manufacturers move toward operational CRA compliance, Visure provides the engineering foundation required to meet every obligation as a governed, repeatable process, not a documentation exercise,” Moustapha Tadlaoui, CEO at Visure Solutions, added. “Live traceability. Signed baselines. On-premise AI. All in one platform.”

Illustrates live requirement-to-evidence mapping, suspect-link flags, and real-time CVE impact analysis across releases.

Governed Traceability Architecture: Illustrates live requirement-to-evidence mapping, suspect-link flags, and real-time CVE impact analysis across releases.

Webinar September 24th: Ensuring CRA Compliance Across the Product Lifecycle

Join Fernando Valera, CTO of Visure Solutions, for Ensuring Cyber Resilience Act (CRA) Compliance Across the Product Lifecycle: Embedding Cybersecurity, Traceability, and Compliance from Design to Deployment. The webinar will cover Article 14 response workflows, Annex VII evidence pack generation, and AI requirements generation with Vivia.

Date/Times: September 24th, 2026 | 8:00 AM PST • 11:00 AM EST • 17:00 CEST

Register Now: https://visuresolutions.com/webinars/cra-compliance-product-lifecycle/

About Visure Solutions

Visure Solutions is a leading provider of AI-driven requirements management and ALM solutions, helping regulated manufacturers improve quality, ensure compliance, and accelerate time-to-market across safety-critical industries.

For more information, visit: www.visuresolutions.com

Media Contact

Marcelo Zegarra
Visure Solutions
+1 415 745-3304
marketing@visuresolutions.com

Photos accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/24d14e3e-1c55-4dc1-945a-31db94cbf23a

https://www.globenewswire.com/NewsRoom/AttachmentNg/aaadc1d7-09b0-4bfe-9395-d8775bd3afd1

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Hankook Tire Honored by International Motors with 2026 Diamond Supplier Award During Tennessee Plant Ceremony https://thegbm.com/hankook-tire-honored-by-international-motors-with-2026-diamond-supplier-award-during-tennessee-plant-ceremony/ https://thegbm.com/hankook-tire-honored-by-international-motors-with-2026-diamond-supplier-award-during-tennessee-plant-ceremony/#respond Wed, 02 Sep 2026 15:00:00 +0000 https://thegbm.com/hankook-tire-honored-by-international-motors-with-2026-diamond-supplier-award-during-tennessee-plant-ceremony

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Nashville, Tennessee, USA, Sept. 02, 2026 (GLOBE NEWSWIRE) — A leading global tire company Hankook Tire & Technology (Hankook Tire) was honored with the prestigious ‘2026 Diamond Supplier Award’ by leading American commercial vehicle manufacturer International Motors, LLC (“International”) during a ceremony held on August 19 (local time) at Hankook Tire’s Tennessee Plant in Clarksville, Tennessee.

The ‘Diamond Supplier Award’ represents the highest tier of distinction bestowed by International, recognizing top-performing suppliers that demonstrate exceptional performance across critical criteria, including technology, quality, delivery, and sustainability. Working with approximately 1,500 suppliers globally, International selects only about 10 companies each year to receive this top award.

This achievement holds significant value as it validates Hankook Tire’s world-class engineering capabilities, quality competitiveness, and deeply rooted partnership with International in the commercial vehicle tire sector. The award ceremony was held in the presence of key executives from both companies, who also toured the Tennessee Plant and highlighted their strong, long-standing collaboration.

“We are proud to receive this prestigious recognition from International, which is a testament to our shared dedication to excellence in commercial trucking, and we look forward to many more years of continued partnership,” said Mark Roe, Vice President of TB Sales, Hankook Tire America Corp.“Hankook is deserving of the International Diamond Supplier Award because of their consistent communication, adaptability, and strong commitment to quality,” said Sanjay Goel, Vice President of Global Strategic Sourcing, Cabin & Electronics, International.

Key products supplied to International include the ‘Smart AH37’ for regional and long-haul transport and the ‘Smart DH37’ for drive axle applications, both belonging to Hankook Tire’s Truck and Bus Radial (TBR) brand ‘Smart.’ Both tires deliver high mileage and superior durability required in regional and long-distance transport environments, supporting stable fleet operations and enhanced operational efficiency.

Furthermore, Hankook Tire continues to supply SmartWay-verified tire solutions certified by the U.S. Environmental Protection Agency (EPA), helping commercial fleet operators lower operating costs and reduce emissions through enhanced fuel economy and transport efficiency.

Through this recognition, Hankook Tire once again proves its technological edge and quality leadership in the global TBR market. Leveraging its extensive OE supply capabilities, Hankook Tire will continue expanding strategic partnerships with global commercial vehicle manufacturers to further solidify its market leadership in North America.

About Hankook Tire America Corp.

Hankook Tire America Corp. is a growing leader in the U.S. tire market, leveraging investments in technology, manufacturing, and marketing to deliver high-quality, reliable products that are safer for consumers and the environment. Headquartered in Nashville, Tenn., Hankook Tire America Corp. markets and distributes a complete line of high-performance and ultra-high-performance passenger tires, light truck and SUV tires as well as medium truck and bus tires in the United States. Hankook Tire America Corp. is a subsidiary of Hankook Tire & Technology Co., Ltd., a Forbes Global 2000 company headquartered in Seoul, Korea.

Hankook Contacts

Van-Nessa Hagans / Hankook Tire

731-571-6446

vannessa.hagans@hankookn.com

Hannah Wilson

205-614-0638

hannah.wilson@hankookn.com

Attachments

CONTACT: Account Director Taylor Vincent Brodeur Partners for Hankook Tire tvincent@brodeur.com 

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Thousands of Miles from Home: How Young Vietnamese Abroad Celebrate National Day https://thegbm.com/thousands-of-miles-from-home-how-young-vietnamese-abroad-celebrate-national-day/ Wed, 02 Sep 2026 10:00:32 +0000 https://thegbm.com/thousands-of-miles-from-home-how-young-vietnamese-abroad-celebrate-national-day Turning Toward Home from Any Corner of the World

Currently pursuing her studies at Ningxia University in China, 22-year-old Mai Ngoc Linh faces a regular routine of classes and personal commitments this September 2. Unable to immerse herself in the festive holiday crowds back in Vietnam, Linh embraces a quieter way to remember her roots.

“Living and studying overseas, I feel a pang of regret missing out on the joy and excitement of this major national holiday,” Linh said. “This year, I plan to write in my journal, reflecting on what Independence Day means to me and expressing my gratitude to our national heroes, especially our beloved Uncle Ho.”

Cách Việt Nam hàng nghìn km, người trẻ đón Quốc khánh 2.9 như thế nào? - Ảnh 1.

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Far from home, Linh reflects on her heritage through her own quiet rituals on Independence Day. Photo: Courtesy of interviewee

What Linh misses most while abroad is the sight of the national flag—the yellow star against a field of red—draping streetscapes back home. Linh recalled that last year, during Vietnam’s 80th National Day milestone, she watched live broadcasts of the national military parade from afar.

“My heart swelled with pride watching those moments unfold,” she said.

Cách Việt Nam hàng nghìn km, người trẻ đón Quốc khánh 2.9 như thế nào? - Ảnh 2.

Young overseas students find meaningful ways to keep their cultural roots alive. Photo: Provided by Khanh

In South Korea, 25-year-old Nguyen Yen Quyen, a student at Myongji University, finds alternative ways alongside other Vietnamese peers to craft an authentic holiday atmosphere. Together, they stream commemorative festivities and follow updates from Vietnam.

“When you are so far away, small comforts—speaking our mother tongue, reminiscing about home, or sharing photos of Vietnam on September 2—make us feel instantly closer,” Quyen shared. “We often gather at Vietnamese-owned coffee shops or restaurants to talk, share a meal, and bridge the distance. Everyone has their own way of celebrating, but the common thread is a shared pride in our identity.”

Keeping the Name “Vietnam” Close at Heart

For Nguyen Quoc Khanh, a 24-year-old student at Inje University in South Korea, this marks his second Independence Day spent away from home. While September 2 remains an ordinary school day, Khanh carves out time to follow domestic news, call his family, and reflect on his heritage.

Cách Việt Nam hàng nghìn km, người trẻ đón Quốc khánh 2.9 như thế nào? - Ảnh 3.

Quoc Khanh carries his love for his homeland throughout his academic journey abroad. Photo: Courtesy of interviewee

“What stays with me most is the sea of red flags fluttering along every road,” Khanh noted. “When living in Vietnam, it was such a familiar sight that I took it for granted. But living abroad, seeing those images across my phone screen makes me feel the sacred weight and pride of our homeland much more deeply.”

Khanh added that he often meets up with fellow Vietnamese friends after class to share home-cooked Vietnamese meals, discuss their lives as expatriates, and trade stories about home.

“No matter how far I travel, whenever someone asks ‘Where are you from?’, I feel immense pride answering, ‘I am from Vietnam,’” Khanh said. “Living abroad taught me that your homeland is not merely where you were born; it is a permanent piece of your identity.”

Further east, in Japan’s Aichi Prefecture, 26-year-old worker Nguyen Dinh Nhat maintains his usual work shift, as the holiday lands on a regular weekday. Over his five years in Japan, almost every September 2 has unfolded as a standard workday.

“Even so, I always look toward home during major holidays by following social media updates and reading the news to stay connected with the celebrations back home,” Nhat remarked.

Living overseas, Nhat realized that patriotism often surfaces in the simplest acts: speaking Vietnamese, bonding with fellow countrymen abroad, learning more about national history, and proudly declaring his Vietnamese heritage wherever he goes.

(Source: Thanh Nien Newspaper)


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Zelenskyy says airlines should avoid Russian airspace as Ukraine expands drone operations https://thegbm.com/zelenskyy-says-airlines-should-avoid-russian-airspace-as-ukraine-expands-drone-operations/ Wed, 02 Sep 2026 09:56:26 +0000 https://thegbm.com/zelenskyy-says-airlines-should-avoid-russian-airspace-as-ukraine-expands-drone-operations

Ukrainian President Volodymyr Zelensky speaks during the reburial ceremony for Colonel Yevhen Konovalets on August 18, 2026 in Kyiv, Ukraine.
Diego Fedele | Getty Images News | Getty Images

Ukrainian President Volodymyr Zelenskyy has urged airlines to avoid Russian airspace as Kyiv expands its drone operations.

“We want to warn every airline that uses Russian airspace, every insurer, and everyone who still uses Russia’s key airports: Russian airspace is becoming completely unsafe,” Zelenskyy said Tuesday in his evening address.

His warning follows Ukraine stepping up its long-range drone strikes on Russian oil refineries and logistics hubs, as it seeks to raise the cost of the war for Moscow.

Ukraine’s president said it is important that airlines currently flying into airports in Moscow, St. Petersburg and other key destinations in Russia take note of the elevated airspace risk.

Zelenskyy insisted that civilian aviation would not be in danger, before adding: “There will simply be drones in Russia’s skies on a scale that has to be taken into account.”

Most Western commercial airlines do not fly into Russian airspace due to Moscow’s full-scale invasion of Ukraine in February 2022.

Some Chinese and Gulf state carriers, including Qatar and the United Arab Emirates, continue to use Russian airspace, however.

In response to Zelenskyy’s comments, Russian President Vladimir Putin said the threat amounted to a declaration of “state terrorism.” He added that the Kremlin would continue intensifying its own attacks on Ukraine.

Speaking to reporters at the Shanghai Cooperation Organisation summit in Kyrgyzstan on Tuesday, Putin also dismissed the idea of resuming negotiations, saying: “You don’t negotiate with terrorists.”

‘Massive strikes’

Ukraine closed its airspace to civilian aircraft after Russia launched its full-scale invasion.

“The Ministry of Foreign Affairs of Ukraine and our other institutions will provide international organizations with full information about the dangers in Russian airspace. Drone-infested skies are no place for civilian aviation,” Zelenskyy said.

Earlier in the week, Russia’s Defense Ministry said it is planning “massive strikes” on Ukraine’s energy infrastructure, amplifying fears of another winter assault.

Russian forces have ramped up missile strikes on Ukrainian cities as Kyiv faces a shortage of air defense equipment.

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By CNBC

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Nepal’s mountain tourism industry faces ‘serious warning’ after Himalayan flood disaster https://thegbm.com/nepals-mountain-tourism-industry-faces-serious-warning-after-himalayan-flood-disaster/ Wed, 02 Sep 2026 09:23:18 +0000 https://thegbm.com/nepals-mountain-tourism-industry-faces-serious-warning-after-himalayan-flood-disaster

An aerial view shows houses lying deluged in sludge after flash floods at Devighat, Bidur Municipality in Nepal’s Nuwakot district on August 27, 2026.
Prabin Ranabhat | Afp | Getty Images

Nepal’s renowned adventure tourism industry faces a sobering reality check, according to local mountain tourist associations and hostel owners, following devastating flooding on Nepal’s border with China.

The death toll from last week’s disaster, which tore through villages along the Nepal-Tibet border, stood at 987, authorities said Tuesday. Nearly 4,250 people were missing, they added.

The catastrophe began on Aug. 26 in the Himalayas, a mountain range that contains some of the world’s highest peaks, including the highest, Mount Everest.

A massive glacial collapse in northern Nepal triggered a landslide of ice and rock and meltwater into the valleys below, with powerful floods sweeping away or cutting off entire communities and damaging roads, bridges and hydropower facilities.

The tragedy, which prompted Nepali Prime Minister Balendra Shah to push for international climate action, underscores the growing impact of climate change on adventure tourism.

Rajendra Bahadur Lama, general secretary of the Nepal Mountaineering Association, described the floods as a “serious warning” for Nepal’s tourism industry.

“This disaster should not be seen as the end of Nepal’s adventure tourism; it should be a wake-up call,” Lama told CNBC in an email. “Climate change is changing the Himalayas, and Nepal must now build a tourism industry that is not only adventurous, but safer, smarter and climate-resilient.”

Tourism infrastructure, routes and destinations will need to be assessed and redesigned with better protection for floods, landslides and other extreme events, Lama said, noting that international tourists are “increasingly conscious” of climate change and safety.

Counting the cost

To rebuild from the catastrophe, Nepal, one of the least developed countries in South Asia, has reportedly estimated a cost of between $4 billion and $5 billion, equivalent to nearly one-tenth of its economy.

The tourism industry is a core tenet of the Nepalese economy and serves as a major source of foreign exchange and revenue. The country of nearly 30 million is world-renowned as a hotspot for trekking and mountaineering, as well as a premier global destination for spiritual travel.

Tourists have cancelled bookings in the last several days, however, just as Nepal heads into its most popular travel season from Sept. 15 to Nov. 15, said Saroj Bhandari, owner of the Wander Thirst hostel in the capital city of Kathmandu, more than five hours’ drive from the flood site.

The aerial view shows Swayambhunath Stupa in Kathmandu, Nepal, on October 21, 2025.
Nurphoto | Nurphoto | Getty Images

Bhandari expects that, at best, his 122-bed hostel will reach 60% occupancy during that peak tourist season this year, down from 100% last year. Most of the cancellations have come from European tourists, he said.

“This time only the one part of Nepal is little damaged by the flood and a lot of the tourists think it’s not safe to go to Nepal because of that,” he said, noting the country does not only consist of mountains but also flatland.

Bhandari said Nepal is nearing the end of its rainy monsoon season. He emphasized the government’s system for landslide alerts and road closures, noting the state typically shares warnings about floods and landslides with the hostel every day, which the hostel then passes on to guests.

While he was not aware whether China had sent an alert, Bhandari said people who first saw the flood had warned those living downstream of it, but that those downstream had underestimated its size.

A spokesperson for Nepal’s government was not immediately available to respond when contacted by CNBC. China’s Foreign Ministry, meanwhile, has said it is preparing a third batch of emergency aid for Nepal and will continue to “stand firmly together” with its neighboring country.

Tibet Vista, a regional tour organizer with offices in Nepal and China, meanwhile, said in a statement to CNBC that all its travelers and team members were safe.

“None of our guests were at Gyirong Port when the flooding occurred, and no travelers with Tibet Vista were affected by the disaster,” Tibet Vista said Monday. “We are deeply saddened by what happened, and our thoughts are with the victims, their families, and everyone affected by this tragedy.”

Severe glacial flood risks

The U.S. embassy in China on Aug. 30 noted the risk of further landslides and flooding due to additional rainfall through Sept. 1. Beijing had sent Premier Li Qiang to visit the flood site on Aug. 27 and focused a regular month-end meeting of top leaders on response to the catastrophe, with a readout noting the disaster occurred in a cold plateau region surrounded by glaciers and potential hazards.

An assistant secretary-general at the United Nations on Tuesday warned that millions of people in the Himalayan region were at risk from glacial floods, with fears that entire riverbanks might become effectively uninhabitable.

“Technology cannot move fast enough to prevent loss along these massive river systems that catch the overflow of the glacier lakes,” Kanni Wignaraja, an assistant secretary-general at the U.N., told Reuters in an interview.

Researchers have previously identified 47 dangerous glacial lakes in Nepal, China and India, although the real number has since been estimated to be far higher.

This photograph taken on May 20, 2026, shows mountaineers climbing a slope lined up during their ascent from the Hillary Step to summit Mount Everest in Nepal.
Furte Sherpa | Afp | Getty Images

“The devastating impacts of the Nepal floods cannot be understated,” Carlo Buontempo, director of the European Union’s Copernicus Climate Change Service (CS3), told CNBC by email.

“While the precise chain of events that led to this disaster will take time to reconstruct, the wider picture is already clear: the world’s frozen regions are losing mass, and as they do, they are becoming less stable.”

Indeed, as the climate warms, Buontempo said the loss of glacial ice around the world would have important consequences for mountainous landscapes.

“Glaciers buttress the slopes around them; frozen ground holds fractured rock in place; meltwater collects in lakes behind fragile natural dams. As the ice thins and the permafrost thaws, mountains that were held together for millennia begin to loosen their grip,” he added.

This photograph shows the small village of Blatten, in the Bietschhorn mountain of the Swiss Alps, destroyed by a landslide after part of the huge Birch Glacier collapsed and swallowed up by the river Lonza the day before, in Blatten on May 29, 2025.
Alexandre Agrusti | Afp | Getty Images

This process typically happens slowly, but sometimes it can happen suddenly — such as when a massive ice and rock collapse onto Switzerland’s Birch Glacier buried the Alpine village of Blatten in May last year.

“The Nepal floods underscore the importance of continued satellite monitoring for early-warning signs, to inform future risk planning and be able to save villages, as in the case of Blatten where residents were evacuated before the landslide. It is evident that the climate of the past has shifted – we must redouble our efforts in preparing for the future,” Buontempo said.

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Japanese green tea giant Ito En surges 8%, defying a broad market sell-off https://thegbm.com/japanese-green-tea-giant-ito-en-surges-8-defying-a-broad-market-sell-off/ Wed, 02 Sep 2026 02:24:30 +0000 https://thegbm.com/japanese-green-tea-giant-ito-en-surges-8-defying-a-broad-market-sell-off

In this article

A close up view of a bottle of Oi Ocha unsweetened green tea with an image of Japanese professional baseball pitcher and designated hitter for the Los Angeles Dodgers, Shohei Ohtani. Ohtani is a Global Ambassador of ITO EN’s green tea brand, ‘Oi Ocha’. (Photo by Erica Denhoff/Icon Sportswire via Getty Images)
Icon Sportswire | Icon Sportswire | Getty Images

Shares of Japanese beverage maker Ito En surged more than 8% Wednesday, following its fiscal first-quarter results, bucking a broader drop in the country’s stocks.

The maker of Oi Ocha green tea on Tuesday reported operating profit of 10.2 billion yen ($63.7 million) for the three months from May through July, up 22% from a year earlier. Revenue rose 3.3% to 135.18 billion yen over the same period.

Operating profit came in well above Citi’s forecast of 7.7 billion yen. The bank had expected profit to decline on the back of higher raw material and tea leaf costs, as well as expenses related to the company’s vending machine business.

More than half of the 2.5 billion yen profit beat was powered by the company’s vending machine business, which posted a 4% operating profit margin compared to the bank’s expectations for a loss. The company said it integrated its vending machine-related businesses in May to improve profitability and business efficiency. 

Citi called the first-quarter results “positive” for the shares, adding that the May-to-July period is the peak demand season for soft drinks. The bank said that the vending machine business’ profitability was “impressive,” given it had been loss-making until last year. 

The company reported that tea leaves and beverages segment’s operating profit rose 23.5% to 8.99 billion yen, while sales rose 2.7%. It attributed the improved profitability to lower promotional expenses and reduced depreciation, which helped offset rising costs. 

Ito En, whose Oi Ocha brand is marketed globally with baseball star Shohei Ohtani, said it aims to expand its overseas business to more than 60 countries and regions by the fiscal year ending April 2029, from 52 currently. It said sales volumes of beverages and tea bags were increasing in markets where it already operates. 

Ito En held the leading share of Japan’s green tea beverage market in 2025 and accounts for about 25% of crude tea transaction volumes in the country, according to the company. 

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By CNBC

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PLS Exploration Delivers New High-Grade Results https://thegbm.com/pls-exploration-delivers-new-high-grade-results/ https://thegbm.com/pls-exploration-delivers-new-high-grade-results/#respond Wed, 02 Sep 2026 01:41:00 +0000 https://thegbm.com/pls-exploration-delivers-new-high-grade-results PERTH, Australia, Sept. 01, 2026 (GLOBE NEWSWIRE) — Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (“Paladin” or the “Company”) is pleased to advise that it has released an update on exploration drilling completed at the Patterson Lake South (PLS) Project in Saskatchewan, Canada.

The announcement is available on the Company’s website (https://www.paladinenergy.com/investors/asx-announcements/).

This announcement has been authorised for release by the Board of Directors of Paladin Energy Ltd.

Contacts
 
Investor Relations
Paula Raffo
T: +61 8 9423 8100
E: paula.raffo@paladinenergy.com.au
Media
Anthony Hasluck
T: +61 438 522 194
E: anthony.hasluck@paladinenergy.com.au
   

About Paladin

Paladin Energy Ltd (ASX:PDN TSX: PDN OTCQX:PALAF) is a globally significant independent uranium producer with a 75% ownership of the world-class long-life Langer Heinrich Mine in Namibia. In Canada, Paladin is progressing development of the Tier-1, high grade and shallow Patterson Lake South (PLS) Project in northern Saskatchewan and has an extensive portfolio of exploration assets within the province’s highly prospective Athabasca Basin and also at the Michelin project in Newfoundland and Labrador. In Australia, Paladin owns uranium exploration assets in Queensland and Western Australia. Paladin is committed to a sustainability framework that ensures responsible, accountable and transparent management of uranium resources – now and in the future. The Langer Heinrich Mine is delivering reliable uranium supplies to major nuclear utilities around the world, positioning Paladin as a meaningful contributor to baseload energy provision in multiple countries and global decarbonisation, whilst unlocking the PLS Project to support future global nuclear energy expansion.

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