Global Business Magazine Business news, opinion, reviews, interviews 2026-11-05T02:15:34Z https://thegbm.com/feed/atom/ WordPress https://thegbm.com/wp-content/uploads/2021/07/Bizmag-logo.png BusinessMagazine https://thegbm.com <![CDATA[Tamchy SFIT Calls for Cooperation to Build the Next Generation of Financial Centres]]> https://thegbm.com/tamchy-sfit-calls-for-cooperation-to-build-the-next-generation-of-financial-centres 2026-11-05T02:15:34Z 2026-11-05T02:15:34Z Hong Kong, 4 November 2026 — The Tamchy Special Financial Investment Territory (Tamchy SFIT) proposed the NextFinance Initiative at Hong Kong FinTech Week 2026 to advance international cooperation on developing next-generation financial centres. The initiative aims to bring financial centres across Asia together through knowledge exchange and joint projects, helping them become more adaptive, technologically advanced and responsive to the changing needs of the global economy.

The proposal was presented by Ayaz Baetov, Special Representative of the President of the Kyrgyz Republic, Permanent Representative of the Kyrgyz Republic to the United Nations and First Deputy Chairman of the Tamchy SFIT Management Council.

NextFinance Initiative seeks to strengthen cooperation among financial centres

“The future of financial centres depends on their ability to adapt to technological change, embrace digital solutions and create an environment where businesses and investors can thrive,” said Baetov. “But no jurisdiction can meet these demands alone. That is why joining forces is essential for developing a shared vision and practical approaches to addressing the challenges of tomorrow.”

Kyrgyzstan and Hong Kong discuss potential financial-sector cooperation

On the sidelines of Hong Kong FinTech Week 2026, Ayaz Baetov met with Joseph Chan, Under Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region. 

The two officials discussed opportunities for cooperation between Kyrgyzstan and Hong Kong in the financial sector. These included strengthening ties between financial institutions and exchanging expertise in financial regulation and technology. 

Joseph Chan also invited Tamchy SFIT to participate in the Asian Financial Forum, scheduled to take place in Hong Kong on 26–27 January 2027.

“We stand ready to partner with Tamchy SFIT in building a financial environment that is well-equipped to meet the challenges of tomorrow,” said Chan. “Hong Kong is committed to sharing its knowledge and expertise, and to strengthening cooperation with Kyrgyzstan and Tamchy SFIT, in the areas of financial services and digital innovation. I am confident that closer collaboration will bring new opportunities for both sides.”

Tamchy SFIT expands its visibility in Hong Kong

As part of its efforts to raise international awareness, around 1,500 Tamchy SFIT-branded taxis will operate across the streets of Hong Kong. The campaign aims to raise the financial centre’s profile in one of Asia’s largest business hubs, home to approximately 7.5 million people.

Contact:

Azat Asambayev, Tamchy SFIT Press Office Representative
tamchysfit.com | + 996 (224) 111116 | press@tamchysfit.com

——————————–

About Tamchy SFIT

Tamchy Special Financial Investment Territory (Tamchy SFIT) is an international financial jurisdiction in the Kyrgyz Republic, operating under a legal framework based on the principles of English common law. 

Resident companies benefit from a special legal and tax regime, including a 0% tax rate for 49 years.  Its institutional framework includes independent financial regulation, an International Dispute Resolution Centre and a fully digital platform for company registration and support. 

The territory spans approximately 6,000 hectares on the northern shore of Lake Issyk-Kul, within walking distance of Issyk-Kul International Airport.

In October 2026, Tamchy SFIT was named the Asia-Pacific winner and global runner-up in the Rising Star category of the Financial Times’ fDi Intelligence Global Free Zones of the Year Awards 2026.

]]> BusinessMagazine https://thegbm.com <![CDATA[Record-Breaking Number of No Corporate PAC Members Headed to the 120th Congress]]> https://thegbm.com/record-breaking-number-of-no-corporate-pac-members-headed-to-the-120th-congress 2026-11-04T20:01:00Z 2026-11-04T20:01:00Z At least 100 members will be rejecting corporate PAC money in 2027; less than 10 members rejected corporate PAC money in 2017

Washington, DC, Nov. 04, 2026 (GLOBE NEWSWIRE) — End Citizens United (ECU), a leading national anti-corruption organization, today announced a historic milestone in its nearly decade-long fight to change the way campaigns are financed. At least 100 members of the incoming 120th Congress will be rejecting corporate PAC money, shattering the previous record and marking the largest coalition of lawmakers to ever make that commitment.

When ECU first launched its No Corporate PAC pledge in 2017, fewer than 10 members of Congress across both chambers refused corporate PAC money. With the addition of this year’s incoming class, that number will grow to 100, the largest group of lawmakers to ever make that commitment. The previous high was 73 in the 118th Congress.

“The conventional wisdom in Washington has always been that candidates need corporate PAC money to win elections. It turns out that thinking was more conventional than wisdom,” said End Citizens United President Tiffany Muller. “These leaders have challenged a longstanding assumption about what it takes to win, and they’re entering the new Congress with a mandate to make government more accountable to the people. That commitment matters more than ever to voters who are watching their costs keep climbing while powerful corporations face no accountability. This is no longer a handful of members taking a stand. It’s a growing force on Capitol Hill, with the potential to fundamentally change the relationship between elected officials and corporate special interests. That’s the kind of change we set out to make when we started this movement in 2017.”

ECU has been building a coalition of members who refuse corporate contributions since launching the No Corporate PAC Pledge in 2017. This year’s Unrig Washington program, which grew to over 300 candidates this cycle, expanded on that pledge by calling on candidates to support a ban on congressional stock trading and commit to help crack down on dark money in elections, on top of rejecting corporate PAC money.

As incoming and sitting members prepare to be sworn into the 120th Congress, ECU will work with them to make anti-corruption reform the top priority. ECU looks forward to helping put power back with everyday Americans and out of the hands of big donors.

###

CONTACT: Bawadden Sayed End Citizens United bawadden@endcitizensunited.org

]]> 0 BusinessMagazine https://thegbm.com <![CDATA[Students in Ontario prepare to walk out of classes and rally against attacks on postsecondary education]]> https://thegbm.com/students-in-ontario-prepare-to-walk-out-of-classes-and-rally-against-attacks-on-postsecondary-education 2026-11-04T20:00:00Z 2026-11-04T20:00:00Z For Immediate Release – November 4, 2026

TORONTO, ON, Nov. 04, 2026 (GLOBE NEWSWIRE) — The Canadian Federation of Students-Ontario will comment on the conclusion of its 2026 Ontario Lobby Week and the coordinated province-wide campus walk outs taking place on November 5th under the Hands Off Our Education campaign. The Federation’s campaign demands a reversal of the OSAP changes, the 2% tuition fee increases, and the underfunding of education.

When: November 5th, 2026

Where: Queen’s Park Media Studio, 111 Wellesley St. W, Toronto, ON, M7A 1A2

Who:

  • Cyrielle Ngeleka, Canadian Federation of Students-Ontario, Chairperson;
  • Omar Mousa, Canadian Federation of Students-Ontario, National Executive Representative;
  • Leah St. Germain, Canadian Federation of Students-Ontario, Circle of First Nations, Métis, and Inuit Students Representative and OCAD Student;
  • Nicholas Silver, University of Toronto Graduate Students’ Union, Vice-President External and PhD Student 

This day is an escalation of the CFS-Ontario’s Hands Off Our Education campaign. Students continue to demand: 

  • Grants not loans; remove all interest on OSAP loans; 
  • An end to the tuition hikes; 
  • Cessation of government interference on admissions, research security plans and student fees.

Quick Facts:

  • In February, MCURES announced a 2% increase to tuition fees and major changes to OSAP, capping the available grants to a maximum of 25%, while opening up to a minimum of 75% loans. 
  • From 2023-2025, the province spent $465 million more on OSAP grants, in which 95% of that went to private career college students.
  • The Federation met with MPP’s across parties from November 1st to 4th, presenting lobby recommendations For the Future of Students 
  • 15+ walkouts are planned on various campuses in regions across Ontario. Students will be rallying, picketing, and gathering to emphasize their demands and highlight student power. Many sector partners, including faculty and campus labour unions, will be present on many campuses – lending their support and solidarity. 

The Canadian Federation of Students-Ontario is the oldest and largest student organization in Ontario, representing over 350,000 college and university students in every region of the province.

-30-

For further information on the campaign or to set up an interview, contact:
Adaeze Mbalaja, Campaigns and Communications Coordinator, at 647-608-4074 or  a.mbalaja@cfsontario.ca
Cyrielle Ngeleka, CFS-Ontario Chairperson, at c.ngeleka@cfsontario.ca

]]> 0 BusinessMagazine https://thegbm.com <![CDATA[China expands overseas mining stakes, tightening grip on critical minerals]]> https://thegbm.com/china-expands-overseas-mining-stakes-tightening-grip-on-critical-minerals 2026-11-04T13:00:01Z 2026-11-04T13:00:01Z

SHENZHEN, CHINA – SEPTEMBER 25: In this photo illustration, a metal cube model labeled with yttrium’s chemical symbol, atomic number and atomic weight rests on a mirrored surface, with reflections of the model and a Chinese national flag visible in the mirror, on September 25, 2026, in Shenzhen, Guangdong Province, China.
Cheng Xin | Getty Images News | Getty Images

China is mobilizing state-linked companies to take bigger ownership stakes in mines overseas, seeking to strengthen its stranglehold over the metals vital for electric vehicles, semiconductors and jet engines

The state-led push could give Beijing greater leverage over global supplies of critical minerals and who gets access to them, analysts say.

“China is rolling out a state-coordinated global mining strategy” to replace firm-level decision-making, said Dan Wang, China director at Eurasia, adding that the model would allow for larger, better-aligned global mining investments.

In April, a dedicated overseas bureau was set up to oversee investments abroad by central state-owned enterprises. Several government agencies, ministries and policy banks have been mobilized to steer overseas mining deals.

Later in July, a mining investment vehicle was created to coordinate overseas deals, advising Chinese companies on compliance, risk management, and market conditions as they face growing geopolitical tensions and regulatory hurdles abroad.

The push for greater centralization could curb disorderly competition among Chinese firms and strengthen their hand against Western competitors and newer entrants, such as Saudi Arabia and India, Wang said, though a longer review and approval process could also raise corruption risks and weigh on investment returns.

Chinese firms have invested heavily in overseas mining for two decades, making big bets in places avoided by Western miners, from Tajikistan to the Democratic Republic of Congo. The push has gained urgency as governments increasingly view critical minerals as a source of geopolitical leverage.

Chinese mineral acquisitions abroad reached $8.8 billion in the first three quarters this year — already the highest annual total since at least 2018, according to a Rhodium Group report released Wednesday.

“Acquisitions have mostly been concentrated in minerals that China lacks domestically,” said Armand Meyer, senior research analyst at Rhodium, naming lithium, nickel and cobalt during the electric-vehicle boom in the mid-2010s and gold in recent years.

Safe range

Outbound investment in upstream critical minerals will likely roughly double from the 2021-2025 period, according to Eurasia, as China doubles down on overseas push to secure access and reserves that it lacks domestically.

Beijing treats 70% import dependence as an implicit red line – which puts copper, lithium, cobalt, nickel, bauxite and iron ore under a hard national security constraint to expand supply abroad, Wang said.

Even where reliance is lower, Beijing wants more. For gold, which sits within the 50% “safe” range, the government still seeks additional access to high-grade resources, Wang said. That pursuit of scale and “ultimately geopolitical strength” could override decisions over investment risk and profitability, she added.

Processing ‘monopoly’

But the push is facing growing resistance as host governments demand more local processing, a stage China dominates and has turned into a key supply-chain chokepoint. More resource-rich countries are restricting exports of unprocessed minerals and requiring foreign partners to refine them locally.

Countries have long shipped rare earths to China for processing because refining carries high environmental costs, allowing Beijing to build out massive processing capacity across the country. The U.S. has abundant supplies of rare earths, but it relies on China to refine them.

China now produces about 92% of the world’s refined rare earths, according to the International Energy Agency.

If a rival builds a new [mineral] refinery, China can produce more, oversupply the market and push prices below economic levels
Brad Handler
Director, Energy Finance Lab at the Payne Institute

That gives Beijing the ability to withhold supply or flood the market to influence prices and project power, said Brad Handler, director of Energy Finance Lab at the Payne Institute. “If a rival builds a new refinery, China can produce more, oversupply the market and push prices below economic levels,” he said.

China has curbed exports of seven medium and heavy rare earths since last year, requiring exporters to obtain licenses.

Japan has been among the hardest hit, reportedly coming within months of running out of yttrium. The element, used for screen displays and semiconductors, is produced as a byproduct during the extraction of other rare earth metals.

China’s exports of yttrium oxide to Japan collapsed to 4,000 kilograms in September from 51,000 kilograms a year earlier, according to Chinese customs data. And the oxide’s price reportedly surged to about $1,150 a kilogram outside China — roughly 179 times its level two years earlier — compared with about $9 a kilogram inside the country.

Japan spent 16 years building stockpiles after China’s 2010 restrictions, yet “there is virtually no yttrium or lutetium separation capacity outside of China,” Bedford said.

But Chinese companies have adapted in recent years, ramping up greenfield investment and setting up processing capacity near the mines, instead of outright acquisitions, according to Rhodium.

“That is most visible where host governments require local processing,” said Meyer, pointing to Indonesia’s ban on nickel ore exports that has led Chinese firms to build smelting and refining capacity in the Southeast Asian country, instead of shipping them back to China.

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By CNBC

]]> BusinessMagazine https://thegbm.com <![CDATA[German hospital introduces miscarriage care device]]> https://thegbm.com/german-hospital-introduces-miscarriage-care-device 2026-11-04T06:25:00Z 2026-11-04T06:25:00Z New device offers dignified support for early pregnancy loss

Miscarriage Collection Cradle – Essential Care Kit

Miscarriage Collection Cradle - Essential Care Kit
Miscarriage Collection Cradle – Essential Care Kit

HAMBURG, Nov. 04, 2026 (GLOBE NEWSWIRE) — A HOSPITAL in northern Germany has become the first in mainland Europe to offer an innovative medical device providing more dignified and compassionate care to those experiencing early pregnancy loss.

Klinikum Pinneberg, part of Sana Regio Kliniken, northwest of Hamburg, is now offering the Miscarriage Collection Cradle to patients, making it the first hospital in mainland Europe to do so.

The Collection Cradle, designed in the UK, fits beneath a toilet seat, offers individuals experiencing miscarriage a respectful way to manage their loss at home or in hospital. It helps preserve the baby for burial, cremation and pregnancy tissue for genetic testing. With features intended to reduce contamination and distress, it replaces a process many families have previously faced in facilities not designed for this purpose.

The device was created by the team at Dignity Care, a grassroots social enterprise led by Laura Corcoran, a former engineer at the UK’s National Health Service whose own experience of recurrent pregnancy loss inspired its design.

Klinikum Pinneberg belongs to the Sana Kliniken group, which operates around 50 hospitals across Germany, and it is hoped the launch will lead to wider adoption.

Laura Corcoran, Director of Dignity Care, said: “When I experienced miscarriage at home, I faced an incredibly difficult situation without the right support my only option was to use a kitchen sieve. That experience led me to design something that could help others navigate the practical and emotional challenges with greater care and dignity.

“Mothers in Germany face the same difficulty in this situation, even they stay in hospital. So, it is incredibly encouraging to see this hospital take the lead. This is about ensuring people feel cared for, respected and supported at one of the most difficult moments they may face.”

Sven Salzmann, Chaplain at Klinikum Pinneberg said: “Early pregnancy loss is a deeply painful experience and families deserve practical support as well as compassion. We are pleased to be introducing the Collection Cradle and hope it can make a real difference for patients here and in time at other hospitals too.”

Since launching in the UK, the Collection Cradle has been introduced in hospitals across the UK and Ireland and is now appearing in hospitals internationally. It is also used by universities in 14 countries to educate midwifery students.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/56469881-87e9-4b74-9016-0abe1fc7493f

CONTACT: Contact: rachelw@holyroodpr.co.uk

]]> 0 BusinessMagazine https://thegbm.com <![CDATA[Solvay third quarter 2026 results]]> https://thegbm.com/solvay-third-quarter-2026-results 2026-11-04T06:00:00Z 2026-11-04T06:00:00Z Press release  Regulated information published on November 4, 2026, at 7:00 a.m. CET

Solvay advances its strategic transformation, while navigating the challenging environment

Highlights

  • New step to support the growth of Solvay’s rare earths business, with long-term feedstock supply agreement with Viridis, while discussions with OneIM continue to progress.
  • Underlying net sales in Q3 2026 reached €1,031 million, down -3.3% organically versus Q3 2025, reflecting the negative impact of the Middle East conflict on Solvay’s operations and the continued weakness in the soda ash market.
  • Underlying EBITDA amounted to €173 million with a margin of 16.8%, down -26.6% organically versus Q3 2025. The year-on-year decline is driven by a c. €-25 million impact from the conflict in the Middle East and by the c. €40 million proceeds from the sale of CO2 emissions rights in Q3 2025.
  • Structural cost savings initiatives delivered another €25 million in Q3 2026, bringing savings since the start of the program to €283 million, on track to reach the target of €300 million by end of 2026.
  • Underlying net profit from continuing operations was €35 million in Q3 2026 vs. €90 million in Q3 2025.
  • Free cash flow1 for the first nine months of 2026 amounted to €70 million (€54 million in Q3 2026). Capex for 9M reached €203 million.
  • The Board of Directors approved the payment of an interim dividend of €0.97 gross per share, stable compared to last year, payable on Jan. 20, 2027.
  • Underlying Net Debt at €1.8 billion, implying a leverage ratio of 2.4x at the end of September 2026.
  • 2026 outlook: as revised on October 19th, Solvay now expects its underlying EBITDA to be between €720 million and €740 million and its Free Cash Flow1 to be between €120 million and €150 million (net of transformation expenses).
Underlying key figures        
(in € million) Q3 2026 Q3 2025 % yoy % organic 9M 2026 9M 2025 % yoy % organic
Net sales 1,031 1,044 -1.3% -3.3% 3,059 3,267 -6.4% -6.4%
EBITDA 173 232 -25.3% -26.6% 579 712 -18.7% -18.6%
EBITDA margin 16.8% 22.2% -5.4pp   18.9% 21.8% -2.9pp  
FCF1 54 117 -53.7%   70 214 -67.5%  
ROCE         11.0% 15.4% -4.4pp  

1 Free Cash Flow (FCF) is the free cash flow to Solvay shareholders from continuing operations.

Philippe Kehren, Solvay CEO

“We continue to navigate a challenging economic environment. The conflict in the Middle East is having a significant impact on Solvay operations, with the temporary shutdown of our Peroxides plant in Jubail materially affecting the company’s short-term performance, as reflected in our updated guidance. In this context, Solvay remains focused on executing its transformation, actively managing and strengthening its portfolio to position the company for long-term growth.

With our long-term supply agreement with Viridis, we strengthen our position in rare earths separation and establish a new value chain down to the customers. This is a concrete step that will allow our plant in La Rochelle to unlock future growth opportunities.”

2026 Outlook

The conflict in the Middle East continues to weigh on the underlying EBITDA of the company, with an impact of
€-20 million in Q2 2026 and €-25 million in Q3 2026. This is primarily driven by the continued suspension of the Peroxide plant operations at the Sadara complex in Jubail, Saudi Arabia, which accounted for close to €-15 million both in Q2 and in Q3 2026.

As communicated on October 19, 2026, excluding potential revenue or recovery measures from Sadara for the remainder of 2026, the guidance for 2026 is:

  • Underlying EBITDA between €720 million and €740 million
  • Free Cash Flow from continuing operations to Solvay shareholders between €120 million and €150 million, net of c. €90 million of transformation expenses
  • Capital expenditure below €300 million, including the strategic investments of €15-20 million announced in July to expand rare earth separation capacity at the La Rochelle site
  • Cumulated structural cost savings on track to reach €300 million at the end of 2026

Solvay’s operations in Jubail are conducted through a joint venture with Sadara (which is a joint venture majority-owned by Saudi Aramco). Solvay is exploring all available avenues to mitigate the financial impact of the temporary shutdown, as the joint venture contractual framework includes mechanisms designed to recover lost profitability.

Rare earths developments

As previously disclosed, Solvay continues to progress its discussions with OneIM, a global investment fund with critical mineral investments. If such discussions lead to a definitive agreement, Solvay would contribute its rare earths activities to a newly formed joint venture while retaining a significant minority ownership interest. The Solvay perimeter under consideration generates approximately €80 million of underlying EBITDA on an annual basis.

Separately, Solvay signed a long-term supply agreement with Viridis, securing strategic rare earth feedstock beginning in 2028 and reinforcing the resilience and integration of its future rare earths supply chain.

Dividend

The Board has decided to pay an interim gross dividend of €0.97 gross per share. This represents 40% of the 2025 total dividend (€2.43 per share), which is in line with its dividend policy and historical practices.

Financial calendar

  • January 18, 2027: Interim dividend ex-date
  • January 20, 2027: Interim payment date
  • March 4, 2027: Fourth quarter and full year 2026 earnings
  • March 2027: Investor event
  • May 5, 2027: First quarter earnings
  • May 11, 2027: Ordinary General Shareholder’s Meeting
  • July 29, 2027: Second quarter and first half year 2027 earnings
  • November 4, 2027: Third quarter and first nine months 2027 earnings
  • Link to Solvay’s financial calendar

Details of analysts and investors conference call

  • Time: November 4, 2026 – 2pm CET
  • Register to the webcast here.

Contacts 

Investor relations 
Geoffroy d’Oultremont: +32 478 88 32 96 
Vincent Toussaint: +33 6 74 87 85 65 
Charlotte Vandevenne: +32 471 68 01 66
Investor.relations@solvay.com

Media relations 
Peter Boelaert: +32 479 30 91 59 
Laetitia Van Minnenbruggen: +32 484 65 30 47 
media.relations@solvay.com 

About Solvay

Solvay, a pioneering chemical company with a legacy rooted in founder Ernest Solvay’s pivotal innovations in the soda ash process, is dedicated to delivering essential solutions globally through its workforce of around 8,400 employees. Since 1863, Solvay has harnessed the power of chemistry to create innovative, sustainable solutions that answer the world’s most essential needs such as purifying the air we breathe and the water we use, preserving our food supplies, protecting our health and well-being, creating eco-friendly clothing, making the tires of our cars more sustainable and cleaning and protecting our homes. Solvay’s unwavering commitment drives the transition to a carbon-neutral future by 2050, underscoring its dedication to sustainability and a fair and just transition. As a world-leading company with €4.3 billion in underlying net sales in 2025, Solvay is listed on Euronext Brussels and Paris (SOLB). For more information about Solvay, please visit solvay.com or follow Solvay on Linkedin.

Safe harbor

This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. Discussions with One IM described in this press release remain ongoing and there can be no assurance that these discussions will result in a definitive agreement or that any transaction will be consummated. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

Ce communiqué de presse est également disponible en français.
Dit persbericht is ook in het Nederlands beschikbaar.

Attachments

]]> 0 BusinessMagazine https://thegbm.com <![CDATA[GHD strengthens building engineering presence in Quebec with acquisition of ÉQIP Solutions Experts-Conseils]]> https://thegbm.com/ghd-strengthens-building-engineering-presence-in-quebec-with-acquisition-of-eqip-solutions-experts-conseils 2026-11-03T17:00:00Z 2026-11-03T17:00:00Z LÉVIS, Quebec, Nov. 03, 2026 (GLOBE NEWSWIRE) — GHD, a global professional services company, has acquired ÉQIP Solutions Experts-Conseils, a Quebec-based integrated building engineering firm with offices in Lévis and Saint-Georges, strengthening its building engineering presence in the region.

Founded in 2013, ÉQIP specializes in structural, mechanical, civil and electrical engineering, with over 4,000 projects delivered for clients across commercial, multi-residential, institutional, industrial and healthcare sectors throughout Quebec and beyond. The firm operates from offices in Lévis and Saint-Georges with a team of approximately 50 engineers, technicians and support staff.

This acquisition deepens GHD’s building engineering presence in the region and expands its capacity to pursue opportunities across institutional, industrial, defence and energy sectors in Quebec and Eastern Canada.

Isabel Piraux, Regional General Manager for GHD Canada East, said, “ÉQIP has spent more than a decade building deep technical knowledge, trusted client relationships and a strong presence in the Quebec market. Joining forces with them advances our growth in the region and gives us the people and capabilities to take on work we have been working toward.”

Érick Pépin, founding principal and incoming Business Group Leader for Property & Buildings at GHD, said, “Joining GHD gives our team access to a broader, global network and resources that will open new doors for our clients and our people. We are proud of what we have built and we are confident that being part of GHD will allow us to continue that work at greater scale. Our clients will continue to work with the same people they know, now backed by GHD’s broader capabilities.”

The addition of ÉQIP’s team and capabilities marks a significant step in GHD’s Canadian growth strategy. Both organizations share a commitment to technical excellence, strong client relationships and the communities they serve, a foundation that positions the combined team well for what comes next.

About GHD
GHD is a leading professional services company operating in the global markets of water, energy and resources, environment, property and buildings, and transportation. Committed to making water, energy, and communities sustainable for generations to come, GHD delivers advisory, digital, engineering, architecture, environmental, and construction solutions to public and private sector clients. Established in 1928 and privately owned by its people, GHD’s network of 12,000+ professionals is connected across 160 offices on five continents. www.ghd.com

Contacts:
Melissa Sullivan
GHD
+1-281-657-0818
 melissa.sullivan@ghd.com

Rose-Marie Ménard
Pilot PMR
+1-579-622-9925
rosemarie.menard@pilotpmr.com

]]> 0 BusinessMagazine https://thegbm.com <![CDATA[Vencora Expands Its Insurance Technology Portfolio and Presence in Latin America with the Acquisition of CT InsureTech]]> https://thegbm.com/vencora-expands-its-insurance-technology-portfolio-and-presence-in-latin-america-with-the-acquisition-of-ct-insuretech 2026-11-03T17:00:00Z 2026-11-03T17:00:00Z TORONTO, Nov. 03, 2026 (GLOBE NEWSWIRE) — Today, Vencora – a global buy-and-hold-forever acquirer of banking, financial services, and insurance technology companies – announced the acquisition of CT InsureTech (CTI), formerly Charles Taylor InsureTech, a leading provider of insurance technology, software, and services to global insurers and brokers. With offices in London, Buenos Aires, and Mexico City, CTI combines decades of insurance knowledge with forward-thinking technology to provide software and deliver enterprise services to the global insurance market, shaped by a deep understanding of the complex realities of insurance and the genuine needs of the people working within it.

“Our focus at Vencora is on building enduring technology businesses that customers can rely on for decades. CT InsureTech is exactly the kind of high-quality, mission-critical platform Vencora is built for – with deep domain expertise, strong customer relationships, and a clear path for continued growth,” said Vencora CEO Kevin Bradley. “We are committed to supporting the business to enhance its products, develop its people, and help ensure customers continue to benefit from stable, innovative solutions.”

CTI will continue to serve existing and new customers through three distinct operating units, each with a clearly defined focus and target market:

CTI Insurance Modernization builds on nearly 40 years of insurance technology experience to help insurers, brokers, banks, and affinity partners unlock potential and capture sustainable value. Its adaptable platforms and services support insurance products across all lines of business, distribution, and operations, with capabilities in pricing, risk selection, and fraud detection. The unit enables clients to build on existing investments and expand their capabilities, with optional outsourcing services. CTI Insurance Modernization will continue to be overseen by Lautaro Mon.

CTI Digital Transformation specializes in the implementation of core insurance platforms, supporting insurers through complex, end-to-end transformation programs. Its services encompass core system implementation, legacy system migration, data transformation, and cloud migration, enabling insurers to transition to modern, scalable, and API-driven platforms. CTI and Vencora look forward to deepening their partnership with Fadata, an important strategic partner to the Digital Transformation business, and working closely together to support customers undertaking complex core platform and digital transformation programs. CTI Digital Transformation will be overseen by Gonzalo Geijo.

CTI London Market & Managed Services provides solutions designed for participants in the London Market – including bordereaux management, document and process management, delegated authorities control, and claims process optimization – and managed services including end-to-end outsourced technology, enhanced customer experience, and risk management and compliance. CTI London Market & Managed Services will continue to be overseen by Kieran Maloney.

“I am excited about the addition of CT InsureTech to the Vencora portfolio of companies,” said Nathan Partington, Portfolio Manager for Vencora. “As the dedicated platform for insurance software and services within Constellation Software, Vencora is uniquely qualified to support CTI’s continued success and future growth. We are confident that Vencora is the right permanent home for CTI’s employees, customers, and products, and we look forward to continuing to expand Vencora’s presence in the United Kingdom, Europe, and Latin America.”

About Vencora

Vencora acquires mission-critical software businesses serving banking, financial services, and insurance customers and holds them forever. Vencora is an independent portfolio within Volaris Group, an operating group of Constellation Software. Vencora offers its businesses a community that understands their industry, customers, regulatory environment, product challenges, and the pressure of building software financial institutions rely on every day.

For more information, visit vencora.com

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]]> 0 BusinessMagazine https://thegbm.com <![CDATA[The Cat Economy and the Isolated Modern Soul]]> https://thegbm.com/the-cat-economy-and-the-isolated-modern-soul 2026-11-03T15:31:58Z 2026-11-03T15:31:58Z Japan is home to nearly 16 million domesticated dogs and cats—surpassing the country’s population of children under 15. This phenomenon mirrors deep demographic disruptions: protracted declining birthrates, shrinking family units, escalating child-rearing expenses, and the relentless pressures of metropolitan existence.

Yet the innate human yearning for emotional connection has not withered.

In that hollowed-out space, companion animals—cats in particular—emerge as an ideal emotional fit: intimate, steady, and undemanding. According to research by Professor Katsuhiro Miyamoto of Kansai University, this “cat economy,” or catnomics, is projected to generate roughly 3 trillion yen (around 19 billion USD) for Japan in 2026. Still, feline commerce represents only the visible crest of a far broader social reality.

The Burgeoning Industry of Emotional Substitutes

Economists have coined a term for this expansive commercial terrain: the loneliness economy. It encompasses every commodity and platform engineered to bridge human separation: matchmaking apps, remote teletherapy portals, companionship-for-hire agencies across Japan and South Korea, and conversational AI companions. The AI companion market alone was valued at 37 billion USD in 2025 and is projected by Precedence Research to hit 552 billion USD by 2035.

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Isolation has evolved into a dual economic force, producing staggering social overhead while simultaneously driving immense commercial revenues. The two realities sustain each other in a closed loop.

The deeper concern lies in how society reacts to this shift. Pervasive solitude is no longer treated merely as an unintended byproduct of modernization. The modern market has adapted to monetize disconnection, turning human detachment into a reliable consumer baseline.

Vietnam offers clear evidence of this urban transition. The urban population grew at an annual rate of 3.06% from 2019 to 2024, half again as fast as the preceding period. In 2024, the national total fertility rate dropped to a historic low of 1.91 children per woman. Citizens are clustering into metropolises at unprecedented rates. Yet the organic architecture of community life—accessible civic squares, tight neighborhood networks, and informal community anchors—has lagged far behind. Urban density draws bodies closer geographically while driving them further apart emotionally.

Across high-rise developments in Hanoi and Ho Chi Minh City, residents rarely know their immediate neighbors. An entire generation is coming of age in packed high-rises devoid of the default social ties that once sustained traditional alleyways and older collective residential blocks. For many young urbanites, particularly Gen Z, dating platforms have quietly replaced civic gathering spaces. People use them to seek romance, but also to find casual conversation, visibility, or simply a glowing screen to wind down the night.

Systemic Isolation as a Public Health Crisis

This estrangement spans far beyond national borders. The World Health Organization confirmed in 2025 that one in six people worldwide experiences persistent loneliness. The United Kingdom appointed a Minister for Loneliness in 2018 after reports showed more than 9 million citizens felt chronically isolated. Japan instituted a similar ministerial post in 2021 following the first rise in national suicide figures in over a decade. These public offices are not tasked with comforting individual sorrow; they coordinate systemic public policy to treat chronic isolation as an urgent societal and public health challenge.

Formalizing the problem as the UK and Japan have done marks critical progress. Many global initiatives still rely heavily on supplemental support programs, which simply layer on more paid services.

Such measures can soothe immediate emotional distress, yet they rarely touch the deeper roots: fractured historical communities, fragmented workdays, and living setups that discourage lasting bonds.

Here lies the fundamental paradox: an industry that monetizes solitude has little incentive to cure it. Its business model requires managing symptoms just enough to keep consumers returning to the checkout counter. Professional counseling, community hubs for migrant workers, and eldercare services offer undeniable value. Yet the prevailing corporate framework prioritizes user retention over human resolution. The moment genuine human connection is cataloged as a billable item on an invoice, social life shifts onto perilous ground.

Reclaiming Bonds Beyond the Checkout Counter

Are we willing to seek out the things that cannot be packaged or sold?

Modern psychological research offers a clarifying insight: profound isolation rarely begins with a lack of surrounding people. It starts with self-alienation—losing touch with our own interior needs, emotions, and aspirations beyond algorithmic recommendations. Adding another app or attending another superficial meetup merely multiplies interactions; it does not build authentic communion.

The moments that cultivate enduring relationships carry no commercial barcodes. They live in quiet shared meals free from glowing phone screens, unrecorded personal stories shared without an audience, and calm pauses spent sitting together without needing digital entertainment. No corporate entity gains financially by prompting us toward those quiet spaces. For that precise reason, no algorithmic feed will ever recommend them.

The four-legged pet coats flying off retail shelves in Tokyo are not popular because of an eccentric subculture. The market is simply performing its assigned function: locating the emotional vacuums carved out by modern life and converting them into consumer stock-keeping units.

We must ask whether humanity is letting isolation become the easiest desire to fulfill simply because it carries a retail price tag, while neglecting the unmonetized practices that actually bring us together.

Source: vnexpress.net

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]]> BusinessMagazine https://thegbm.com <![CDATA[Eatery in 640,000-VND Meal Case Fined Over 8.2 Million VND]]> https://thegbm.com/eatery-in-640000-vnd-meal-case-fined-over-8-2-million-vnd 2026-11-03T13:50:07Z 2026-11-03T13:50:07Z

On November 3, the People’s Committee of Nghia Giang Commune issued an administrative fine against the owner of Ba Chin eatery, located on the access road to the Da Nang–Quang Ngai expressway, for two violations: failing to list prices and selling goods above listed prices.

Specifically, the mustard greens soup was sold 10,000 VND higher than the declared price, while boiled chicken was not listed on the price board. In addition to paying the fine, the eatery must display prices fully and refund the excess amount charged to the customer.

This enforcement action was taken after local police stepped in to clarify the violations.

(The 300,000-VND chicken portion criticized by the driver for its high price)

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The Meal Dispute

The incident stemmed from a meal on October 22 involving driver Nguyen Van Duc and three companions. The group ordered half a boiled chicken, boiled sweet potato greens, braised pork with eggs, minced meat mustard greens soup, and rice, and was billed a total of 640,000 VND.

Within that total, half a chicken cost 300,000 VND, braised pork with eggs was 150,000 VND, mustard greens soup was 80,000 VND, sweet potato greens were 60,000 VND, and rice was 50,000 VND. Believing the price was excessively high, Mr. Duc questioned the charges, leading to an argument with the staff. Afterward, the eatery reduced the chicken portion to 250,000 VND, bringing the total bill down to 590,000 VND.

Mr. Duc said the eatery neither listed nor announced the price of each dish before serving. The incident was posted on social media, sparking considerable debate.

Mrs. Tran Thi Minh Trinh, the eatery’s owner, later explained that a whole chicken costs 500,000 VND. When the customer ordered half a chicken but requested extra cuts from the remaining chicken, the staff charged 300,000 VND instead of the customary 250,000 VND. She admitted that the eatery did not notify the customer of the price beforehand and apologized to the guest.

Land Use Violations and Public Apology

During the inspection, local authorities also determined that several facilities on the eatery’s premises had been built by the landowner on agricultural land without permission, with a total violating area of 1,747 square meters. The landowner was fined 15 million VND in May but has not yet rectified the situation; the commune is continuing to urge compliance.

On the morning of November 3, Ba Chin eatery published an apology to customers, transport companies, and the people of Quang Ngai, stating that it would not dispute right or wrong and hoped to prove its change through food quality and service attitude.

Source: vnexpress.net

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