Markets, not savings, powering the gain

Global financial assets increased by 8.6% in 2025 to a record EUR268.4trn, despite a challenging geopolitical and economic backdrop. Markets did the heavy lifting in 2025, as rising asset prices accounted for roughly 4 out of every 5 euros of new household wealth. Fresh savings fell 5.4% to EUR4.1trn. “Global wealth set another record in 2025, but that only tells half of the story,” said Ludovic Subran, Chief Economist and Chief Investment Officer at Allianz. “Since 2019, nominal financial assets are up 50%, but in real terms, stripped of inflation, they only grew 23%. The situation is worse in Western Europe where financial assets in real terms are up 0.5% compared to 2019. It is 21% in North America and 70% in China.”

Portfolios set the tone

Portfolio composition increasingly determines who captures the gains from wealth creation. Securities increased by 12.4% in 2025, more than twice as fast as deposits (5.7%) or insurance and pensions (5.0%), pushing their share of global financial assets to a record 46.9%. North American households, with 60.7% of their portfolios invested in securities, benefited particularly strongly from rising markets; their region generated 51.4% of the global increase in financial assets. Over the past decade, valuation gains accounted for 71% of North American financial-asset growth, compared with only 36% in Western Europe, reflecting the importance of investing savings over holding them in low-earning accounts.

2026-27: AI as a swing factor amid slowing GDP growth

We estimate that global financial assets could grow by a solid 9% in 2026, but the medium-term backdrop is turning tougher as slower growth, persistent inflation, fragmentation and high public debt weigh on returns. Going forward, AI is therefore the key swing factor: stronger productivity and earnings could sustain asset returns, but the growing reliance on AI-powered markets to drive household wealth also creates vulnerability. With the S&P 500 up around 95% since end-2022, much of the recent wealth boost rests on elevated market valuations and AI expectations. We find that a 25% correction in the S&P 500 would erase around USD27trn of US household wealth in the year of the shock, equivalent to almost 14% of total net worth, weighing on confidence and consumption, and pushing the US economy into recession.

But the AI wealth story is not only about how much wealth is created, it is also about who captures the gains. “AI could become the next great wealth engine, but the key question is who gets a stake in it,” said Katharina Utermöhl, Head of Thematic & Policy Research at Allianz Research. “As AI potentially shifts more value creation towards capital, broader participation in capital returns and policies that help workers adjust will be key to making the AI wealth dividend more widely shared.”

Singapore: The world’s 4th-richest country by net wealth per capita

Gross financial assets of Singapore’s private households increased by 9.1% in 2025 to EUR1.4trn, up from 8.5% growth in 2024, modestly above the global average (8.6%) though just below the average for the surveyed Asian countries excluding Japan and China (9.8%).

Securities grew fastest among all asset classes, up 12.7%, ahead of insurance and pensions (9.3%) and deposits (6.8%). However, due to Singapore’s strong capital-funded pension system, insurance and pension remained the dominant asset class in the average private household’s portfolio, with a share of 47.2%, followed by deposits with 33.2%. Securities accounted for just 19.6% of Singaporean portfolios – well below both the regional average of 30.8% and the global figure of 46.9%.

Adjusted for inflation, Singaporean financial assets grew by 8.1% in real terms in 2025, up from 6.0% in 2024. They have increased by a cumulative 33.3% since 2019 – below the regional average of 39.6%, though well above the global average of 22.9%.

Private households’ liabilities rose by 7.4% to EUR269.9bn, growing more slowly than gross financial assets. As a result, net financial assets increased by 9.5% to EUR1.1trn. With net financial assets of EUR192,840 per capita, Singapore ranked 4th among the world’s richest countries in 2025.

Net financial assets per capita in 2025

The interactive “Allianz Global Wealth Map” can be found here on our homepage:
https://www.allianz.com/en/economic_research/research-data/interactive-wealth-map.html

You can find the study here on our homepage:
https://www.allianz.com/en/economic_research/insights/publications/global-wealth-report-2026.html

Hashtag: #AllianzResearch

About Allianz

Reimagining A Diamond Is Forever for a New Era, Redefining Natural Diamond Storytelling

BEIJING, CHINA – Media OutReach Newswire – 29 September 2026 – De Beers Group unveils the campaign film for Desert diamonds. Following the Desert diamonds Asian launch in Shanghai on 29 July, the campaign extends across 25 key cities in China, timed to Jewellery & Gem WORLD Hong Kong (JGW) and the Golden Week. Blending classical Chinese poetry with contemporary aesthetics, the film reinterprets A Diamond Is Forever for a new era and places natural diamonds within a register of cultural resonance and inner narrative.

Desert diamonds are De Beers Group’s contemporary expression of natural diamonds, honouring the rarity of each stone and the brilliance forged by nature under immense heat and pressure over billions of years. The category answers a younger generation’s wish to resist definition by convention, to embrace the authentic self and to speak in its own voice. It carries natural diamonds beyond the bridal occasion into a lasting choice whether given to someone else or kept for oneself.

The soul of the campaign traces back to the landscape evoked by the Tang Dynasty poet Wang Wei in the lines: “In the great desert, a single smoke rises straight; over the long river, the setting sun is round.” Through an exceptionally concise visual language, the film distils the rawness, vastness and stillness of the desert into the essence of its narrative, conveying to a younger generation the deeper core of Desert diamonds — authenticity, individuality and inner radiance. Through the lens, “straight,” “long” and “round” are no longer simply poetic images, but the truest forms of all things once every ornament has fallen away. In the desert, artifice is stripped away by wind and sand, leaving heaven and earth revealed in their purest geometric contours. This untouched, elemental state evokes an almost Zen-like sense of completeness. It is in such an extreme environment that natural diamonds take shape, and each refracted ray of light echoes the silent rhythm of the deep desert—brilliant and untamed.

Working in a minimalist visual language and an understated narrative, the film presents its four models in their most authentic state. Every frame is pared back to its essence, capturing the most unadorned dialogue between a person and a natural diamond. Throughout, the rhythm of the gong, a traditional Chinese instrument, provides a continuous thread. Its resonant Eastern tones answer the imagery of the desert, evoking a distinctive sense of freedom and ease.

Lü Mo, Director, said: “Young people today move between tradition and modernity, with classical Chinese aesthetics and global culture coexisting in their inner world. At its core, Wang Wei’s poetry embodies a distinctly Eastern form of minimalism — ‘straight,’ ‘long’ and ’round’ reveal the original forms of all things once everything superfluous has been stripped away, reflecting an independent spirit that neither follows trends nor caters to popular taste. This resonates with the younger generation’s refusal to be defined by external expectations. Through this film, I hope to convey that your sharpness, your edges, and even all the ‘imperfections’ that others may never see are precisely the irreplaceable marks that make you who you are.”

De Beers Group’s consumer research places figures to this: 95% of Chinese respondents said they would like to own a Desert diamond, 94% agreed that Desert diamonds are distinctive, and 96% viewed them as an innovative departure from tradition. As authenticity and individuality increasingly shape contemporary values, the natural beauty of Desert diamonds—and the uniqueness found in their imperfections—speaks to the radiance of a generation unwilling to be tamed, whether the occasion is a personal milestone or a feeling for someone cherished that words cannot fully convey.

The campaign runs across 25 key cities, among them Beijing, Shanghai and Guangzhou, reaching audiences through digital television and social media platforms and through an integrated online and offline approach. De Beers Group continues to work with its three strategic retail partners—Chow Tai Fook, Chow Sang Sang and TSL | Tse Sui Luen—extending the campaign onto the jewellery floor, where the rich natural colours and distinctive character of Desert diamonds can be seen at close range.

Building on the spirit of A Diamond Is Forever, the new campaign film offers a contemporary reading of an idea now nearly 80 years old. Since its creation in 1947, the line has embodied the lasting, rare and timeless qualities of natural diamonds. Drawing on Chinese culture, the film opens a dialogue with a younger generation around the authentic self, taking the idea beyond traditional expressions of emotional commitment towards individuality, personal expression and inner radiance.

Shaped entirely by nature, Desert diamonds hold a radiance that comes from within. What lasts is not only the rarity of a natural diamond through the passage of time, but the strength to stay true to oneself and shine boldly. And what is carried forward is more than the value held in a stone: it is a spirit of authenticity and individuality that stays with a younger generation through the years.

For more information on natural diamonds, please follow and visit the official channels below:

De Beers Group official website www.debeersgroup.com
Natural Diamonds Instagram @ADiamondisForeverhk
Website: www.adiamondisforever.com/zh-hk

Hashtag: #DeBeersGroup #ADiamondIsForever #NaturalDiamonds #Desertdiamonds #Diamonds

About De Beers Group

About Building Forever

Building confidence in the natural diamond category with industry partners, guided by the Building Forever and diamond traceability strategies

HONG KONG SAR – Media OutReach Newswire – 24 September 2026 – 16 to 19 September, De Beers Group participated in Jewellery & Gem WORLD Hong Kong (JGW), presenting an immersive experience centred on Desert diamonds. Drawing inspiration from the wonders of nature and the artistry of human craftsmanship, the showcase created a captivating space that brought the story of natural diamonds to life.

Following its successful Asian debut in Shanghai in July, Desert diamonds returned to Hong Kong as De Beers Group’s first major beacon initiative in more than a decade and its largest category-marketing investment in 15 years. The activation reaffirmed the Group’s commitment to strengthening long-term confidence in the natural diamond category, working alongside strategic partners across the value chain and guided by its Building Forever sustainability framework and diamond traceability strategy.

Industry leaders convene to shape the future

De Beers Group Chief Executive Officer Al Cook, Executive Vice President of Diamond Trading Paul Rowley, General Manager of Natural Diamonds Lynn Serfaty and Vice President of Natural Diamonds APAC Loletta Lai attended the Group’s breakfast meeting, where they exchanged views with industry partners from around the world.

Distinguished guests included Lekoko S. Kenosi, Ambassador of Botswana to China; Lin Qiang, President of the Shanghai Diamond Exchange; Nosiphiwo Mzamo, Chief Executive Officer of the State Diamond Trader of South Africa; Amber Pepper, Chief Executive Officer of the Natural Diamond Council; Jillian Wolk, Chief Executive Officer of Tracr and Annie Wong, Chief Operating Officer of Chow Tai Fook Jewellery Group. Together with De Beers Group leadership and other attendees, they discussed future opportunities and areas for collaboration across the natural diamond industry.

“We firmly believe that natural diamonds have an enduring future, and we remain confident in the long-term opportunity presented by the Chinese market. China has always been one of De Beers Group’s most important markets. For more than half a century, we have built deep and enduring relationships with retailers, consumers, governments and industry partners. We continue to invest in China and launched our Desert diamonds category-marketing initiative in July this year. The campaign has already delivered encouraging results in the US market and is showing strong momentum in China. Looking ahead, we invite our industry colleagues to work together to strengthen consumer confidence in the long-term value of natural diamonds,” said Al Cook, Chief Executive Officer of De Beers Group.

“The natural diamond market is gradually stabilising. Supply and demand are moving towards equilibrium, while diamond prices are showing signs of recovery. The US market remains resilient and the Chinese market is also beginning to stabilise, while India, Europe, Japan and the Gulf markets are providing further momentum for industry growth. Global annual natural diamond production has declined from a peak of approximately 170 million carats to around 100 million carats. Effective supply management is essential to restoring market balance. Looking ahead, the industry must continue to invest in detection, grading and traceability systems, enabling consumers to distinguish clearly between natural and laboratory-grown diamonds, while advancing collective category marketing and industry collaboration.” said Paul Rowley, Executive Vice President of Diamond Trading at De Beers Group.

“Desert diamonds are such a gift. They resonate with Chinese philosophies of resilience, transcendence and harmony between humanity and nature, while building a bridge between southern Africa and China. Through the Asian launch of Desert diamonds, retailer partnerships, social media communications and media engagement, we aim to further support China’s focus on quality consumption and help more consumers understand and appreciate the enduring value of natural diamonds,” says Lynn Serfaty, Managing Director of Natural Diamonds at De Beers Group shared her perspective on the emotional and cultural resonance of natural diamonds in China.

An immersive journey from earth to adornment

Following the breakfast meeting, De Beers Group officially unveiled its Show & Tell experience, inviting global industry guests on an immersive journey that combined visual, tactile and emotional storytelling.

Visitors entering the space were transported through the changing light of a vast desert landscape. Exterior screens depicted rolling sand dunes, while the interior brought together contemporary exhibition design and traditional Chinese bamboo-weaving craftsmanship, an element of China’s intangible cultural heritage.

Artist Xu Mingyu created sharply faceted geometric display cases inspired by the precision of natural diamond cuts. The woven textures echoed the intricate patterns formed on desert surfaces by the passage of time. Through this dialogue between ancient Eastern craftsmanship and the untamed poetry of natural diamonds, the installation connected heritage, nature and contemporary design.

The Show & Tell experience unfolded across five narrative chapters, creating a sensory journey from the earth to the wearer’s hand.

At the Desert diamonds display, loose natural diamonds were presented along a spectrum of warm, earthy hues, recalling the layered tones of the desert landscape. The distinctive colours of Desert diamonds arise naturally from subtle variations in nitrogen content and plastic deformation, giving every stone an entirely individual appearance and personality. No two Desert diamonds are alike, just as every person’s story is unique.

In a rapidly changing digital age, younger consumers are increasingly drawn to authenticity and permanence. Formed over billions of years, natural diamonds embody this pursuit through their inherent rarity and individuality. At the exhibition, retail partners presented Desert diamonds jewellery collections including Chow Tai Fook’s Desert Rose collection, Kashikey, represented by Chow Sang Sang, and alongside classic three-stone and five-stone designs.

Guests then moved to the Tracr area to explore the digital identity of a registered natural diamond. From mine to retail, the origin and journey of each diamond can be recorded and traced. A dedicated science and technology zone featured a range of De Beers Group’s detection instruments, enabling guests to see first-hand how natural diamonds can be differentiated from laboratory-grown diamonds.

The journey also highlighted De Beers Group’s long-standing conservation work. A dedicated rhino conservation area showcased decades of commitment to habitat protection, species breeding and relocation, bringing the Group’s Building Forever sustainability commitment to life in a tangible and meaningful way.

The experience concluded with a multi-sensory exploration of Desert diamonds. A fragrance experience inspired by the vast desert landscape evoked the interplay between the beauty of the desert and the brilliance of diamonds, while interactive quizzes invited guests to discover their own natural diamond aura.

Advancing trust through collaboration and traceability

During the exhibition, De Beers Group also participated actively in a series of industry exchange activities, engaging with value-chain partners to explore the opportunities and future direction of the natural diamond industry.

At the Natural Diamond Value Chain Repositioning and Outlook Forum, jointly organised by the Natural Diamond Council and the Hong Kong Diamond Federation, participants from across the industry exchanged insights on the evolution of the natural diamond value chain and its future prospects. Meanwhile, at the Brilliant Convergence: Envisioning the Future of Jewellery Design seminar hosted by the Hong Kong Diamond Federation, Loletta Lai, Vice President of Natural Diamonds APAC at De Beers Group, joined jewellery designers and industry representatives to discuss how natural diamonds can continue to inspire contemporary jewellery design and sustain their appeal in an evolving market landscape.

In addition, the Gemological Institute of America (GIA) presented “The Beauty of Natural Diamonds” exhibition during the show, inviting visitors to explore the formation and unique beauty of natural diamonds through a scientific lens. Through diamond fluorescence, microscopic images of inclusions and growth features, as well as GIA Diamond Grading Reports, the exhibition revealed the unique “natural fingerprint” of every natural diamond. Notably, ahead of this year’s exhibition, GIA completed its acquisition of a 30% shareholding in the Tracr diamond traceability blockchain platform, an important milestone for the natural diamond industry. This strategic collaboration supports Tracr’s evolution into independent industry infrastructure, providing dual assurance through diamond grading and origin traceability, and laying a strong foundation for a more transparent and trusted future for the natural diamond industry.

Extending the industry conversation into a jewellery experience, De Beers Group also invited members of the media and fashion community to visit the De Beers London Hong Kong flagship boutique, where they experienced the beauty and distinctive appeal of natural diamond jewellery through an immersive journey. Behind the brilliance of every natural diamond lies a traceable journey, from its origin at the mine to the careful craftsmanship applied through sustainable practices. Every stage reflects De Beers Group’s unwavering commitment to exceptional quality and sustainability. Through jewellery try-ons and expert-led guidance, guests experienced first-hand how natural diamonds are being reinterpreted in a contemporary fashion context, deepening their emotional connection with appreciation of the category.

Guided by the enduring belief that “A Diamond Is Forever,” De Beers Group’s presence at this year’s Jewellery & Gem WORLD Hong Kong not only demonstrated the continuing vitality and broad potential of natural diamonds in the global market but also created an emotionally resonant natural diamond journey for industry partners and consumers through the storytelling platform of Desert diamonds. The initiative brought new depth and warmth to natural diamond category education.

Looking ahead, De Beers Group will continue to work with industry partners worldwide, with its Building Forever sustainability framework and diamond traceability strategy serving as two key pillars in advancing the natural diamond industry towards a more transparent and sustainable new era. Through the interplay of art and culture, every natural diamond formed deep within the earth can shine ever more brightly in its time, continuing a timeless story of enduring beauty.

For more information on natural diamonds, please follow and visit the official channels below:

Hashtag: #DeBeersGroup #ADiamondIsForever #NaturalDiamonds #Desertdiamonds #Diamonds

About De Beers Group

A New Chapter in Toblerone Innovation

In 2024, Toblerone introduced its distinctive diamond-shaped truffles to the market, marking a bold step beyond the brand’s legendary triangular bar. The launch proved a resounding category success, redefining what consumers expect from premium boxed chocolates. Now, Toblerone takes this innovation further with a partnership that is set to captivate chocolate lovers worldwide: Toblerone Diamond Truffles with Biscoff^®.

Each diamond-shaped truffle is individually crafted from smooth Toblerone milk chocolate, filled with smooth Biscoff^® spread and finished with crunchy nougat pieces. The result: the unmistakable caramelised taste and crunchy texture of Biscoff^®, elevated by Toblerone’s signature chocolate craftsmanship.

When Two Global Icons Unite

Biscoff^® has become one of the world’s most sought-after biscuits, transcending categories and cultures. This collaboration between Toblerone and Biscoff^® represents a strategic partnership that unites two iconic brands to create something truly new in the premium chocolate category – a product that meets growing consumer demand for innovative, indulgent experiences.

Iain Livingston, President Toblerone & World Travel Retail at Mondelēz International, proudly says: “Toblerone has always stood for being never square, and celebrating unapologetic indulgence. With our diamond-shaped truffles already proving a category success, combining them with globally loved Biscoff^®, was a natural next step. People look for surprising combinations of familiar tastes, and this is a collaboration that only two icons could bring to life. We couldn’t be more excited to share it with the world.”

The excitement is shared by Lotus Bakeries as Isabelle Maes, Chief Marketing Officer at Lotus Bakeries, emphasizes: “Biscoff^®‘s unique caramelised taste and crunchy texture have become a global phenomenon, loved across cultures and age groups. Partnering with Toblerone – a brand synonymous with quality and indulgence – allows us to bring our iconic Biscoff ^® biscuit and spread experience to consumers in an entirely new and exciting format.”

The Perfect Treat – Available in Two Formats Across Key Global Markets

Toblerone Diamond Truffles with Biscoff^® are available in two pack sizes to meet different consumer occasions – perfect for gifting, sharing, or an indulgent treat:

• 495g premium box – an exclusive format launching with retailer Costco across the United States, Canada, Taiwan, Australia, United Kingdom, Spain, France, Sweden, Iceland as well as New Zealand.
• 180g sharing box – available in the United Kingdom, Ireland, Switzerland, and Australia. More to follow.

The exclusive Costco deal represents a landmark moment for Mondelēz International and its Toblerone brand, marking the first time the company has partnered with Costco to launch a product range on a global scale. Another testament to the strength of both the Toblerone brand and the universal appeal of Biscoff^®.
https://www.mondelezinternational.com/our-brands/toblerone/
https://www.linkedin.com/company/mondelezinternational/
https://www.instagram.com/toblerone

Hashtag: #Toblerone #Biscoff #NeverSquare

Toblerone

Biscoff®

Since 1932, Biscoff® has been delighting consumers’ taste buds with its delicious caramelised taste and crunchy texture. Originally from Belgium but now loved all over the world, Lotus Biscoff® cookies were first brought to market by Jan Boone Sr., who created a caramelised cookie using only natural ingredients. This unique recipe and cookie remain the basis of our three hero products: the original Lotus® Biscoff® cookie, the Lotus® Biscoff® sandwich cookie and the Lotus® Biscoff spread. Whether they are enjoyed at home, on the go, at the office or on a flight, Biscoff® provides everyone around the world with a unique moment to truly enjoy!

An immersive journey through dreams, gratitude and love, complemented by new lifestyle experiences at Galaxy Promenade

MACAU SAR – Media OutReach Newswire – 22 September 2026 -Founded upon its commitment to enriching Macau’s cultural landscape and curating world-class lifestyle experiences, Galaxy Macau proudly collaborates with acclaimed Chinese contemporary sculptor Gao Xiaowu to present Dream Voyage @ Galaxy Resort: Gao Xiaowu’s Art Exhibition at Galaxy Promenade, the integrated resort’s immersive luxury shopping destination. Art Exhibition at Galaxy Promenade, the integrated resort’s premier luxury shopping destination.

Running from now until 17 November, the exhibition showcases six groups of Gao’s representative works across five thematic chapters, inviting guests to reflect on dreams, personal growth, gratitude and love while embarking on an inspirational journey of self-discovery.

The exhibition unfolds in five chapters that explore different stages of life and the pursuit of dreams. From the hope and imagination embodied in “Dreams Begin”, to the celebration of individuality in “Breaking the Mold”; to “Dreams Return”, which encourages visitors to reconnect with their original aspirations and re-examine their dreams, and “Gratitude Shared”, a tribute to sincere appreciation; the journey culminates in “Love Expressed”, illustrating how love serves as a powerful force that sustains dreams and strengthens meaningful connection.

The opening ceremony was held yesterday afternoon and officiated by distinguished guests including Mr Cheng Wai Tong, Acting Director of the Macao Government Tourism Office; Mr Ho Hong Pan, Head of Department for Promoting Cultural and Creative Industries of the Cultural Affairs Bureau of the Macau SAR Government; Mr Philip Cheng, Director of Galaxy Entertainment Group; Ms Eileen Lui, Group Director of Human Resources and Administration of Galaxy Entertainment Group and the title feature artist, Mr Gao Xiaowu.

Adding a distinctive, authentic local dimension to the exhibition, Galaxy Macau has partnered with the Macau Artist Society to invite six emerging Macau artists, alongside participating fashion and lifestyle brands from Galaxy Promenade, to reinterpret Gao Xiaowu’s iconic Future Dreams’ in mini sculpture. Through their own artistic expression, each collaborator imbues the work with unique colours, creativity and perspectives. In addition, guests are invited to express their talent at the Colour Your Angel Workshop, where they can personalise a Future Dreams mini sculpture with their own creative touch, transforming it into a one-of-a-kind artistic keepsake and bringing home a treasured memory from their dream voyage.

One of China’s most recognised contemporary sculptors who is widely recognised for the philosophy of “the moment that is” and the practice of “popular arts”, Gao Xiaowu seeks inspiration from the experiences, emotions and aspirations of ordinary people. Through a visual language characterised by humour, warmth and accessibility, Gao explores urban life, social issues and human connection, while conveying a strong sense of empathy and public engagement.

Through this exhibition, Galaxy Macau invites guests, visitors and art enthusiasts alike to embark on a dream voyage, rediscovering the significance of aspiration, the value of gratitude and the warmth and connection that love brings.

A Larger-than-Life Dream Friend Arrives at Pearl Lobby

Extending the exhibition’s spirit of imagination, art and wonder beyond the gallery space, Galaxy Macau will welcome Dream Friend, a large-scale sculptural installation of a mechanical plush cat at Pearl Lobby from 1 October to 19 November.

Nestled inside a giant suitcase, the larger-than-life feline will delight guests with playful movements and lifelike interactions throughout the day. Dream Friend brings to life a whimsical world where art and fantasy intertwine, creating an unforgettably immersive and highly shareable experience for guests of all ages.

Guests who fall in love with Dream Friend can also take the experience home. Galaxy Promenade will launch a collection of three limited-edition Dream Friend blind-box figurines, available for redemption with qualifying purchases, allowing visitors to relive the joy of their dream-filled journey with this treasured keepsake.

Extend the Fun and Immersive Journey at Galaxy Promenade with New Discoveries

Beyond the exciting exhibitions, guests are invited to discover Galaxy Promenade’s latest luxury, dining and lifestyle offerings, creating a multifaceted journey that seamlessly blends art, fashion, gastronomy and contemporary living.

Recently unveiled at Pearl Lobby, Ralph Lauren‘s new boutique at Galaxy Macau brings the signature brand of American sophistication to the award-winning integrated resort. Guests can discover Purple Label and Collection, both available exclusively in Macau at the Galaxy Macau boutique. Complementing the retail experience is Ralph’s Coffee, the first and only location in Macau, where visitors can enjoy Ralph Lauren’s signature coffee blends, specialty beverages and exquisite, freshly made desserts in an elegant and welcoming setting.

Moose Knuckles’ first standalone store in Hong Kong and Macau is now officially open at Galaxy Promenade. Celebrated for its bold design aesthetic, exceptional craftsmanship and fusion of luxury and performance, the brand has garnered a loyal global following among fashion enthusiasts and trendsetters alike. The arrival of the Canadian luxury lifestyle brand further enriches Galaxy Promenade’s fashion forward, international portfolio. Guests will receive an exclusive inaugural store opening gift with any purchase from now until 30 September, while stocks last.

From 26 September, Galaxy Promenade visitors can also visit the newly opened Starbucks Reserve Coffee Experience Store, located along Promenade Central and just moments away from Dream Voyage @Galaxy Resort: Gao Xiaowu’s Art Exhibition. Here, the aroma of expertly crafted coffee complements the surrounding artistic atmosphere, adding another layer of inspiration and sensory enjoyment to the dream voyage.

In addition, a roster of renowned international luxury and contemporary brands have already established at Galaxy Promenade, with more set to arrive soon, including a new Loro Piana boutique, Scents Library, APM Monaco, vinavast, a refreshed On store and a Versace pop-up boutique adding to the cutting-edge and immersive experiential brand showcase.

As the world-class integrated resort destination encompassing art, culture, entertainment, luxury retail and exceptional dining experiences, Galaxy Macau continues to enrich Macau’s tourism offerings through innovative and inspiring experiences. Dream Voyage @Galaxy Resort: Gao Xiaowu’s Art Exhibition represents another milestone in Galaxy Macau’s commitment to advancing cultural and artistic development while supporting Macau’s vision as a World Centre of Tourism and Leisure.

By bringing together internationally acclaimed contemporary art, local creative talent and enriching lifestyle experiences, the exhibition offers visitors from around the world a meaningful and inspiring artistic journey.

The brand-new Galaxy Resort App and Galaxy Rewards membership programme transform shopping at Galaxy Macau, connecting guests to over 200 luxury and lifestyle brands through exclusive rewards, member privileges and personalised offers. Designed to inspire discovery and enhance every visit, the platform makes each shopping journey more rewarding than ever. Download today at www.galaxymacau.com/galaxy-resort-app/.

Hashtag: #GalaxyMacau

ABOUT GALAXY MACAU INTEGRATED RESORT

Galaxy Macau, world-class luxury integrated resort, delivers the “Most Spectacular Entertainment and Leisure Destination in the World”. Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meter of unique entertainment and leisure attractions that are unlike anything else in Macau. Nine award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, Raffles at Galaxy Macau, Andaz Macau, and Capella at Galaxy Macau. Unique to Galaxy Macau, the 75,000-square-meter Grand Resort Deck features the world’s longest Skytop Adventure Rapids at 575 metres, the largest Skytop Wave Pool with waves up to 1.5-metre high and 150-metre pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz- Carlton Spa, Macau help guests relax and rejuvenate.

As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies; Galaxy Promenade is the hottest shopping destination featuring the latest in fashion and curated experiences in Macau. Spanning over 100,000-square-meter, luxury flagship stores, lifestyle boutiques and our selection of labels are among the more than 200 world-renowned brands for a world-class shopping journey; Galaxy Cinemas, immersive thrills and luxurious comfort go hand in hand at Galaxy Cinemas. All 10 theatres are equipped with the latest audio-visual technology; CHINA ROUGE, one-of-a-kind deluxe lounge that evokes the glitz and glamor of Shanghai’s golden era with entertainment in luxury and style; and Foot Hub presents the traditional art of reflexology to make you feel more relaxed and revitalized. For Authentic Macau Flavours & Vibrant Asian Experiences, Broadway Macau – just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavours at its Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events. Meeting, incentive and banquet groups are also well looked after with a portfolio of unique venues in Galaxy Macau and a professional service staff.

Galaxy International Convention Center (GICC) is the latest addition to the Group’s ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world- class event venue featuring 40,000-square-meter of total flexible MICE, and a 16,000-seat Galaxy Arena – the largest indoor arena in Macau.

For more details, please visit www.galaxymacau.com, www.broadwaymacau.com.mo and www.galaxyicc.com.

Source: Whole Earth Farming

18 September 2026

At full maturity, regenerative “whole earth farming” practices could also offset CO2 emissions equal to the entire airline industry’s

NEW YORK – Hundreds of millions of smallholder farmers could play an outsized role in feeding humanity’s growing population while restoring nature, but a new book underlines that they are the least supported producers in global agriculture.

Whole Earth Farming: Smallholders and the Great Regenerative Transformation says there are roughly 475 million smallholder farms in the Global South, typically operating on less than two hectares (five acres). Together, these farmers already produce about 30% of the world’s food, despite severely limited access to finance, markets, technical and practical education support.

In his book, development expert Hugh Locke says helping just half of the smallholders farmers worldwide – about 240 million farming families – to adopt regenerative agriculture and agroforestry could yield all the additional food required by population growth through 2050 while improving rather than degrading nature.

And those farms would occupy only about 12% of the world’s arable land.

“The world’s smallholder farmers are too often treated as beneficiaries of development assistance when they should be recognized as architects of the next agricultural transformation,” says Locke, co-founder of the Smallholder Farmers Alliance in Haiti.

The world population is expected to increase by roughly 1.5 billion by 2050, he notes, with that growth concentrated in developing countries. Locke’s central proposition is that meeting that additional food does not have to come at the cost of further soil degradation, biodiversity loss and climate change.

Instead, he argues, the same investment needed to increase smallholder productivity could help turn agriculture into a regenerative force.

Haiti: a working laboratory

Many of the insights in Whole Earth Farming are based on Locke’s experience with the Smallholder Farmers Alliance (SFA), which he co-founded with Haitian agronomist Timote Georges in 2010.

The organization now works with roughly 10,000 member farmers in Haiti.

When participating smallholders receive basic agricultural support based on sustainable practices, their yields increase by an average of about 40%, he notes, while household incomes rise between 50 – 100%, depending on local conditions.

SFA members also plant an average of approximately 1 million trees a year.

With SFA’s leadership and help, Haiti’s farmers began transitioning production to a regenerative approach that combines agroforestry with what the SFA calls “tree currency”: farmers plant and care for trees in exchange for agricultural services, training, seeds and other inputs. The model connects increased farm productivity directly with environmental restoration.

The Haiti experience helped shape one of the book’s central conclusions: hundreds of millions of smallholder farmers are producing below their potential because agricultural policies, research, financing and extension systems have disproportionately supported large-scale agriculture for decades.

“This is not about nostalgia or returning agriculture to the past,” Locke says. “It is about recognizing where one of the greatest opportunities for the future now exists.”

Farming that restores instead of extracting from nature

Rather than simply reduce the damage farming causes, regenerative agriculture is a holistic approach to farming that aims to improve the natural systems on which agriculture depends.

It draws on three streams of knowledge: Indigenous and ancestral farming traditions; decades of experience with organic farming, agroecology, permaculture and other sustainable approaches; and contemporary science, including advances in soil biology, ecosystem science and impact measurement.

Depending on local conditions, regenerative farmers can employ techniques including crop rotation, cover crops, intercropping and diverse cropping systems, composting and other methods of building soil organic matter, reduced tillage, agroforestry and integration of livestock.

The objective is not adherence to a universal checklist. It is measurable improvement in outcomes such as soil health, biodiversity, water quality and availability, carbon storage, food production, farmer livelihoods and community resilience.

Locke describes this as regenerative agriculture’s “dual revolution”: a farming methodology and a framework for determining whether farming is actually producing regenerative results.

This distinction is important because practices appropriate to a smallholder in Haiti, India or Kenya may be very different from those suitable for a farm in Canada or the United States.

“The question is not simply, ‘Are you using regenerative practices?’” says Locke. “The more important question is, ‘Is the land, the ecosystem and the farming community measurably better as a result?’”

The approach represents a shift, he says, from shifting agricultural practices to “do less harm” to practices designed to produce net positive outcomes.

Climate dividend

The book also examines how such a transformation could affect climate change.

Healthy soils and growing plants remove carbon dioxide from the atmosphere and store carbon in soil and biomass. Regenerative systems can also reduce emissions associated with the manufacture and transportation of synthetic fertilizers.

Drawing on peer-reviewed research, Locke says approximately 240 million smallholder farms making the transition to regenerative agriculture across an estimated 480 million hectares could eventually remove every year up to 0.72 gigatons of CO2 from the atmosphere annually during the period in which soil carbon is actively accumulating.

Furthermore, reduced reliance on synthetic fertilizer could provide an additional climate benefit of roughly 0.1 gigaton of CO2 equivalent annually, bringing the estimated combined benefit to approximately 0.6 to 0.85 gigatons per year at mature adoption.

That is roughly comparable in scale to the annual CO2 emissions of global aviation.

Locke stresses that soils cannot absorb carbon indefinitely. Soil carbon generally accumulates over one to three decades before approaching a new equilibrium, and outcomes vary substantially with soils, climate, farming practices and farmers’ starting conditions.

“Regenerative agriculture is not a license to keep emitting carbon elsewhere,” says Locke. “Its climate potential is important precisely because it comes alongside other benefits we urgently need anyway: healthier soil, greater biodiversity, more resilient farms, increased food production and stronger rural communities.”

Measuring what “regenerative” actually means

The book arrives as regenerative agriculture is moving rapidly into the mainstream but still lacks a universally agreed definition.

Locke argues that this makes credible measurement especially important.

Rather than allowing a farm or company to be considered regenerative because it has adopted one favoured technique, Whole Earth Farming advocates assessing a broad range of environmental and social outcomes.

The book highlights the emerging “Regen10 Outcomes Framework,” developed through more than two years of global consultation, as an important step toward establishing a common reference for assessing regenerative agriculture while allowing farmers to choose methods appropriate to local circumstances.

The framework encompasses ecological health, farmer livelihoods, food quality, community resilience and other outcomes.

The distinction also guards against reducing regenerative agriculture to carbon alone.

A farming system that sequesters carbon while degrading biodiversity, water resources or farmer livelihoods, Locke argues, cannot meaningfully be called regenerative.

A great regenerative transformation

Locke calls the opportunity a “Great Regenerative Transformation,” comparable in ambition to the Green Revolution that dramatically increased agricultural production during the second half of the 20th century.

But there is a fundamental difference. Where the Green Revolution relied heavily on improved crop varieties, irrigation, synthetic fertilizers, pesticides and increasing standardization, Locke envisions a transformation that combines traditional agricultural knowledge with ecological science, locally adapted practices and modern systems for measuring outcomes.

The goal is not simply more food per hectare. Success would instead be measured by what agriculture produces and what it leaves behind: healthier soils, restored ecosystems, greater biodiversity, improved water systems, climate resilience and viable farming communities.

Locke argues that smallholders are particularly well positioned to lead such a transformation because many retain traditional agricultural knowledge, operate diversified farms and have not adopted industrial farming systems as extensively as producers in wealthier countries.

The challenge is giving them access to the training, finance, research, markets, data and extension services needed to make that potential real.

Alongside its practical exploration of smallholder farming and regenerative agriculture, Whole Earth Farming makes a less expected case: that the Bahá’í Faith offers principles relevant to agriculture’s future; its teachings connect farming with humanity’s spiritual, social and economic development.

Locke focuses particularly on ‘Abdu’l-Bahá, who from 1901 to 1921 directed the farming community of ‘Adasíyyih in the Jordan Valley. He argues that practices used there anticipated many now associated with regenerative agriculture, including crop rotation, agroforestry, integrated livestock and soil-building, while applying broader principles of equality, consultation and justice.

Locke extends these ideas globally, arguing that the faith’s principle that “the earth is but one country, and mankind its citizens” provides a framework for treating farmers, governments, companies and international institutions as parts of an interdependent agricultural system. He stresses that the principles require no religious belief, describing them as “open-source foundational truths” that could help regenerative agriculture scale across cultures, continents and generations without fragmenting into competing definitions.

“Not a measure of the problem, but a measure of the possibility”

The book carries a foreword by Roy Steiner, Senior Vice President, Food Initiative, The Rockefeller Foundation, who describes the world’s 475 million smallholder farming households as “not a measure of the problem, but as a measure of the possibility.”

Steiner writes that regenerative transformation cannot be reduced to carbon or measured by crop yield alone, and that it cannot succeed without farmers themselves being active agents of change.

The book has also drawn endorsements from leaders spanning agriculture, humanitarian action, conservation, development and public policy.

Former U.S. President Bill Clinton says Locke shares lessons from his work with smallholders “with both rigorous evidence and genuine humanity.”

Chef and humanitarian José Andrés writes that farmers have the power not only to produce food but to strengthen local economies and nourish the future, concluding: “Read this book. Then do something.”

Other contributions and endorsements have been provided by

• Elizabeth Dowdeswell, former UN Environment Programme Executive Director and Lieutenant Governor of Ontario;
• Danielle Nierenberg, Food Tank President;
• Rainn Wilson, actor and environmental advocate, who wrote the introduction;
• Paula Caldwell St-Onge, former Canadian Ambassador to Haiti;
• Tara Shyam, Executive Director of Regen10; and
• Leaders from organizations working in agriculture, food security, reforestation and international development.

The book includes 21 stories from 18 countries illustrating regenerative agriculture through the experiences of farmers and farming communities rather than presenting it solely as an abstract global model.

Its examples range from Colombia and Thailand to Canada, the Netherlands and farming communities across Africa, Asia and Latin America.

Launched during Climate Week NYC, Whole Earth Farming offers a deceptively simple proposition: The world need not choose between feeding more people and restoring the planet. It’s possible to do both if hundreds of millions of farmers who have long operated at the margins of agricultural policy are finally given the means.

By the numbers

• 570 million – Approximate number of farms worldwide.
• 475 million – Smallholder farms in the Global South with less than two hectares (five acres).
• ~2 billion – People living and working on those smallholder farms, approximately one-quarter of humanity.
• 30% – Approximate share of the world’s food already produced by smallholders.
• 1.5 billion – Approximate increase in world population expected by 2050, concentrated in developing countries.
• 240 million – Smallholder farming families the book proposes supporting in a global regenerative transition.
• 12% – Approximate share of global arable land those farms would cultivate.
• 0.48–0.72 gigatons CO2/year – Estimated potential annual soil carbon removal at mature adoption during the active accumulation period.
• 0.6–0.85 gigatons CO2e/year – Estimated combined mature annual climate benefit when avoided emissions associated with reduced synthetic fertilizer use are included.
• 10,000 – Approximate number of Smallholder Farmers Alliance members in Haiti.
• 1 million – Approximate number of trees planted annually by SFA members.
• 21 stories / 18 countries – Farmer and regenerative agriculture stories featured in Whole Earth Farming .

About the author

Hugh Locke has spent his career working at the intersection of environmental conservation, international development, humanitarian service and interfaith collaboration. Since co-founding the Smallholder Farmers Alliance in Haiti in 2010, he has focused much of his work on smallholder agriculture and regenerative farming. He is President of the Impact Farming Foundation and serves on the board of the global reforestation nonprofit One Tree Planted.

Whole Earth Farming: Smallholders and the Great Regenerative Transformation

September 2026

George Ronald Publisher

ISBN 978-0-85398-688-1

Official release

As one of the outbound missions under the supervision of the Secretary for Commerce and Economic Development, Associate Director-General of Investment Promotion at InvestHK Ms Loretta Lee will lead the delegation comprising Chinese Mainland companies in sustainability and life and health sciences on a visit to Vancouver, Calgary and Edmonton. The visit aims to help Chinese Mainland enterprises understand the local ecosystems and precisely align their go-global needs, while attracting Canadian businesses in these strategic sectors to invest in Hong Kong, thereby driving new growth impetus.

Ms Lee said, “Canada is globally recognised for its exceptional research talent, clean technology leadership, and established life sciences ecosystem. As more Mainland green technology and life and health sciences enterprises pursue international growth through Hong Kong, they bring not only capital and access to one of the world’s largest markets, but also serve as ideal partners for Canadian companies seeking to explore Asia and beyond. We are keen to build fresh synergies with Canadian businesses to strengthen innovation, collaboration, and investment flows.”

During the visit, the delegation will meet with local institutions, chambers of commerce, and industry associations. They will also hold targeted discussions with leading Canadian green tech and healthcare enterprises, visit universities and research parks, and take part in sector-specific roundtables and business networking sessions.

Hashtag: #InvestHK

Drawing inspiration from desert rose formations and the resilience of succulent plants thriving in arid landscapes, the collection translates the beauty and vitality of desert life into contemporary jewellery design. Comprising 20 pieces, the Desert Rose collection is now available at selected Chow Tai Fook stores across 25 cities in China.

Al Cook, CEO of De Beers Group, commented: “Chow Tai Fook has been a key partner since becoming a De Beers Group Sightholder in 1973. With this new Desert Rose collection, we are delighted to continue working closely together to grow consumer desire in China. Chow Tai Fook and De Beers are both passionate about consumer trust. We are committed to protect and promote the enduring value of natural diamonds.“

Annie Wong, Chief Operating Officer of Chow Tai Fook Jewellery Group, added: “The Desert Rose collection celebrates the resilience and individuality of today’s women, with designs inspired by the beauty and vitality of desert life. Through our joint effortswith De Beers Group, we are confident in bringing the distinctive character of Desert diamonds to more consumers and inspiring a deeper appreciation of their lasting value.”

Over the past few years, De Beers Group and Chow Tai Fook have worked closely on natural diamond campaigns, staff training, and in-store activations across China. Looking ahead, the two parties will build on their established ties with a new initiative focused on strengthening consumer confidence in the long-term value of natural diamonds. This initiative also aligns with the Chinese government’s advocacy for consumption upgrading, reinforcing the positive role of natural diamonds in the country’s broader economic and lifestyle evolution.

Beyond the Desert Rose collection, De Beers Group’s immersive JGW exhibition space showcases Desert diamond loose stones and jewellery against bamboo-weave showcases created by artist Xu Mingyu. Recognised as a Chinese intangible cultural heritage, the bamboo installation draws inspiration from desert dunes and diamond facets, embodying the Building Forever commitment by bridging traditional craftsmanship with natural diamonds. The space also features Tracr, diamond verification technologies, and rhino conservation initiatives.

Together, these initiatives reaffirm the significance of natural diamonds in contemporary life and culture—and stand as a powerful testament to the deep-rooted ties between De Beers Group and Chow Tai Fook. United by a shared vision, the two companies continue to champion the heritage, artistry, and timeless value of natural diamonds, carrying forward a message that resonates across generations: A Diamond Is Forever.

Please follow the official accounts to find more information regarding natural diamonds.

Hashtag: #Naturaldiamonds #Diamonds #Desertdiamonds #DeBeersGroup #ADiamondisForever

About De Beers Group

Following strong turnouts in Malaysia and Taiwan, tantan brings its fitness-led community experiences to Bangkok and Taichung in the coming months

SINGAPORE – Media OutReach Newswire – 17 September 2026 – tantan, one of APAC’s largest dating platforms, is taking its fitness, fun and dating offline across the region with its community fitness initiative, bringing singles together through running, workouts and lifestyle experiences designed to spark genuine connections beyond the screen.

Since launching its fitness and lifestyle event series in Q3 2025, tantan has seen consistent demand for offline experiences. Across recent events, including its Singapore Halloween activation and the fitness gatherings that followed, approximately 80 per cent of available spots were filled within the first two days of registration, with the latest events reaching capacity within a day. Turnout has also remained high, with close to 90 per cent of registered participants attending.

The events have drawn a broad mix of participants, with recent registrations comprising approximately 60 per cent men and 40 per cent women. Female participation continues to climb, with female app sign-ups rising by around five per cent in the seven days following each offline event.

“We have always believed that meaningful connections can start online, but what we are seeing now is that offline can be a powerful driver of community growth. Our events are not only attracting strong participation, they are bringing new people into the tantan community, with female app sign-ups rising after each event. For us, the numbers show that giving people a reason to meet in real life can create momentum that lasts beyond the event itself. Offline is becoming an important part of how we build our communities, not simply an extension of what happens on the app,” said Willynn Ng, Regional Head of International Markets at tantan.

The growing appetite for interest-led social experiences also reflects a wider shift in how people are looking to meet. According to Eventbrite data, experiences using “meet-cute” language grew by 117 per cent in the first half of 2026, while hobby-based events centred around meeting people, going solo and finding a community are gaining momentum across wellness, nature, crafting and other lifestyle categories.

For tantan, the appeal of offline fitness lies in giving people a natural reason to connect. Rather than meeting with the sole intention of dating, participants bond over a shared activity, challenge or interest, making interactions feel more organic and less transactional.

Bringing the Initiative to More Communities across APAC

tantan is adapting the format to local communities and interests as it rolls out across the region.

In Malaysia, tantan hosted Run & Mingle on 6 September in collaboration with RSS Run Club, a Malaysian community-driven running and fitness group, bringing together 43 participants. Women made up 80 per cent of attendees, while around 80 per cent of participants were single. The strong female turnout is particularly notable given that female participation has traditionally been harder to drive at offline dating events, highlighting the growing appeal of fitness-led social experiences as a more approachable way to meet.

In Thailand, tantan will be the Official Dating App Partner of the BREW Vertical Fun Run on 20 September at ICONSIAM in Bangkok, held as part of the Iconic Coffee Festival. Organised with ICONSIAM and Brew Run Club, the event transforms the destination into a vertical running experience across seven levels, with each floor offering a different coffee, pastry, brand or social moment. Around 300 participants are expected to take part, with games and challenges planned at the end of the run to create natural opportunities to interact.

In Taiwan, tantan is taking its fitness community beyond Taipeiwith Taichung’s first ever “Bar Run” from 23 to 24 October. Organised in collaboration with a local pub 龍蛇酒雜 (LONG SER 9 ZA), the event is expected to attract approximately 3,000 to 3,500 participants, combining fitness, socialising and nightlife in a city-wide experience. Participants can roam the neighbourhood, visit partner bars for exclusive drinks, collect stamps and play games, turning the city into a social playground to explore, connect and have fun.

Across these markets, tantan’s approach is simple: fitness creates the common ground, while connections happen naturally along the way.

With more fitness and lifestyle experiences planned across APAC, tantan aims to build a community where digital discovery and real-world experiences work together, turning shared interests into shared experiences and, ultimately, more opportunities for meaningful connections offline.

https://thetantanapp.com/
https://www.instagram.com/tantanapp/

Hashtag: #tantan

tantan

TCMA received the Thai Climate Partnership: DCCE Climate Partner Award from the Department of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment, in recognition of its continued collaboration to advance climate action in Thailand. TCMA also received the Trade Prestige Award 2026 at the Excellent Level from the Department of Business Development (DBD), Ministry of Commerce, for the fourth consecutive year, recognizing its contribution to industry competitiveness and Thailand’s economic development.

“These recognitions reflect the power of collective action. The transition to Net Zero cannot be achieved by any single organization or sector. It requires collaboration that connects policy, technology, investment and implementation, both within Thailand and internationally,” said Mr. Surachai Nimla-or, Chairman of TCMA.

A key framework guiding the industry’s transition is the Thailand 2050 Net Zero Cement and Concrete Roadmap, which brings together technology, innovation, standards, energy transition and economic mechanisms to reduce emissions across the cement and concrete value chain.

One of the most significant areas of progress has been the broad adoption of hydraulic cement, a lower-carbon cement that has become mainstream in Thailand and is increasingly used across infrastructure, public buildings, industrial facilities and housing. The transition has contributed to cumulative greenhouse gas emissions reductions of more than 3.8 million tonnes of CO₂ equivalent since 2019. In parallel, the industry is advancing energy transition and energy efficiency, including greater use of alternative fuels and renewable energy, together with efforts to improve energy performance across cement production.

At the local level, the Saraburi Sandbox is providing a practical environment to connect policy, technology, investment and implementation, with the aim of testing solutions that can be replicated and scaled.

International cooperation and financing are supporting the transition from ambition to implementation. TCMA has worked with international partners through the Decarbonization of Cement and Concrete Sectors in Thailand initiative, supported by Environment and Climate Change Canada (ECCC), UNIDO and the Global Cement and Concrete Association (GCCA). The programme supports technology development, standards and certification, capacity building and practical pathways for low-carbon cement and concrete. It also includes the development and demonstration of innovative solutions, including a Mobile Carbon Capture Unit (MCCU) pilot, providing a platform to explore carbon capture technologies under real industrial conditions and build knowledge for future scale-up.

At the regional level, TCMA is supporting the development of the 2035 AFCM Decarbonization Roadmap, helping cement producers across ASEAN move towards a common direction on decarbonization while strengthening regional cooperation and knowledge exchange.

The transition to a low-carbon cement sector requires more than technology alone. It depends on an enabling ecosystem that brings together policy and regulatory frameworks, technology and innovation, finance and investment, standards and certification, and effective governance and implementation. These elements are increasingly important to strengthen industrial competitiveness and support Thailand’s transition towards a low-carbon economy.

“The next stage is about moving from individual initiatives and pilots to wider implementation and scale. We need an environment where technology providers, investors, governments, academia and industry can work together to develop solutions that are technically viable, economically meaningful and scalable,” Mr. Surachai said.

“For Thailand, the Net Zero transition is also an opportunity to strengthen industrial competitiveness and create new opportunities for innovation, investment and international cooperation. Continued collaboration across sectors and across borders will be essential to turn shared ambitions into practical solutions and lasting value for Thailand and the region,” he added.

Building on these achievements, Thailand’s cement industry is entering “The NEXT Chapter to Net Zero 2050,” with a focus on scaling technology and innovation, accelerating energy and circular economy transitions, and strengthening the enabling conditions for long-term, collaborative action across Thailand and the region.

Hashtag: #TCMA #TCMAtoNetZero2050 #NextChapterToNetZero2050 #CementDecarbonization #ClimateSolutionsPartner #InternationalCollaboration #ClimateFinance #CleanTechnology

Mr. Irwin founded Rosseau Asset Management Ltd. in 1998, following several successful years in proprietary investing at Deutsche Bank Canada. Rosseau’s flagship fund, Rosseau LP, was established on December 31, 1998 and has earned a strong reputation for investment performance and disciplined, research-driven decision-making. In his time at Rosseau, Mr. Irwin has had extensive experience investing in offshore oil projects off the coasts of South America and Africa, and onshore projects throughout the world.

Prior to founding Rosseau, Mr. Irwin’s experience also includes corporate finance and mergers and acquisitions at CIBC Wood Gundy, credit analysis and fixed-income management at Scotia Capital Markets, and proprietary trading at Deutsche Bank Canada. Mr. Irwin holds a Bachelor of Mathematics from the University of Waterloo, is a Chartered Financial Analyst (CFA) and holds a Masters of Business Administration from the University of Western Ontario.

“Warren’s extensive financial, investment and capital-markets background along with his passion for offshore oil exploration will be a significant asset to Colossal Energy Fields,” said Curtis Cohen, Chairman of the Board of Directors of Colossal Energy.

“His analytical mindset, discipline, governance and professionalism will greatly strengthen funding resource opportunities, as well as capital allocation and long-term shareholder value.”

Colossal Energy’s commitment to sustainable, inclusive growth shines brightest in nations where its investments in energy access, community empowerment, and equitable development directly advance energy equity for all.

Hashtag: #ColossalEnergyFieldsCorp.

About Colossal Energy Fields Corp.

According to the report – based on the European Berggruen Governance Index (EBGI), which analyses states’ governance performance according to the quality of democracy, government, and lives of citizens – European states’ years-long dominance is stagnating. Over time, this could undermine democratic accountability and raise questions about the region’s long-term stability.

The findings of the report, titled “Sustaining and Expanding Europe’s High Governance Performance“, show that complacency, what researchers refer to as the “silent killer of governance”, is a cause for concern that must be addressed by a renewed focus on bolstering democracy and engaging citizens.

The report was produced by researchers at the University of California Los Angeles (UCLA), the Los Angeles-based Berggruen Institute, and Berlin’s Hertie School.

Europe still leads the way

At first glance, Europe remains the envy of democracies around the world. Overall, Europe dominates the global index’s category of “Consolidated Democratic States” with 15 European countries ranked among the top 20. When it comes to the quality of government, the European average is a whopping 56 percent higher than the non-European average, while quality of democracy enjoys a 40 percent lead.

With such high scores, Europe appears well placed for the future. In fact, the 39 European countries surveyed scored almost 78 per cent in the overall assessment of governance, whilst the non-European countries lagged behind at 54 per cent. Though a closer look at Europe from 2000 to 2023 tells a more nuanced story, one that researchers say needs greater attention.

A tale of three factors

Around the world, quality of life has improved almost everywhere, with the provision of public goods increasing in all 39 European states. However, those gains were not matched by Europe’s institutions, which have seen state capacity stall and democratic accountability decline since 2010, according to the report.

Although the report shows that this trend of better lives and worsening democratic structures is a global issue, in Europe the problem is more pronounced.

The report found that democratic accountability, or quality of democracy, has come to a global standstill, with many countries, including those in Europe, on the decline. At the same time, even as the quality of government has held steady throughout the world, the fortunes of citizens have improved. In Europe, the increased quality of life mirrors that of non-European countries, but the quality of governance has stalled.

Europe’s shifting landscape

To gain a better understanding of Europe’s governance fortunes, the report sorted countries into three clusters, or “worlds”. The first cluster identified those with strong institutions and high governance performance. The second cluster groups post-communist EU members, along with aspiring and candidate states. The third cluster is composed of Europe’s weakest performers of democratic accountability.

Through examining the “worlds” between 2000 and 2023, researchers found what they refer to as a “convergence from below”, an upward shift that saw 12 countries move into a higher governance cluster, a discernible improvement. These countries are Albania, Armenia, Cyprus, Czechia, Estonia, Georgia, Italy, Malta, Moldova, Portugal, Romania, and Slovenia. But the move was largely the result of better public services, not a stronger democracy, which the report says does not bode well for the future.

The clusters were ranked according to economic, social, technological, and climate factors. Research shows that the top cluster is best placed to deal with future challenges in the decades to come. While the findings show that quality of life alone cannot ensure the democratic accountability and state capacity provided by robust institutions, the report details how the allure of EU membership does result in reforms among accession countries that help fuel governance progress.

Estonia as an example of a success story

Among the success stories, the report highlights Estonia, which was able to combine EU accession, fiscal discipline, low corruption, and extensive digital government, all key governance indicators, to move into the top cluster of countries.

By comparison, Greece was an example of what the report called a “distinctly European pathway of decline”, whose weakened state capacity and democratic accountability have been undermined by economic crisis and external conditionality brought on by loans, austerity measures, and forced reforms.

The report also outlines how the increase in the provision of public goods is not always domestically driven. Countries in Central and Eastern Europe and the Balkans have partially relied on funding from Brussels, while other parts of Europe have amassed debt to improve quality of life, which can lead to limited growth among poorer countries.

Strengthening the weakest links

The authors make it clear that while Europe has succeeded at boosting the quality of life through better provision of public goods, it has struggled to maintain democratic accountability and sustain a high level of state capacity needed to navigate the decades ahead.

To begin addressing the governance gap that exists between Europe’s core and peripheral countries, in addition to administrative reform and democratic renewal, the report recommends that building a stronger democracy depends on social accountability, an area largely beyond EU influence.

Specifically, researchers point to attacks on freedom of the press and a shrinking civil society as greater threats to democratic accountability than “rigged elections or captured courts”. In their view, media pluralism and civic space need to be treated as “governance infrastructure” to not only help “reinvigorate democracy and make citizens feel that they are represented”, but also to prevent the “silent killer” of complacency from taking hold.

The full report, “European Berggruen Governance Index – Sustaining and Expanding Europe’s High Governance Performance” can be viewed and downloaded from the website of the UCLA’s Luskin School.

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Strong international sales momentum, disciplined pricing, and margin recovery helped drive the Jollibee Group’s record-high quarterly earnings.

Key Highlights:

• Record enterprise performance: Jollibee Group delivered record quarterly NIAT of Php3.4 billion, up 5.7% year-on-year, with consolidated revenues rising 10.7% and system-wide sales increasing 14.2%, supported by improving margins and continued business momentum.
• International business drives growth: International system-wide sales grew 25.4%, reflecting broad-based momentum across the Group’s Asian and global restaurant portfolio, including Highlands Coffee, Compose Coffee, Tim Ho Wan, Jollibee North America, and Milksha.
• Asia remains a key growth platform: Strong same-store sales growth in Vietnam, Highlands Coffee, and Compose Coffee highlights the continued strength of the Group’s core Asian growth markets.
• Vietnam emerges as a major growth engine: Jollibee Vietnam delivered 47.6% system-wide sales growth in Q2 and opened 19 new stores in the first half, supported by strong unit economics and continued network expansion.
• Global footprint continues to expand: The Jollibee Group increased its store network by 6.4% year-on-year to 10,767 stores across 33 countries, with franchised stores comprising approximately 70% of the network.

METRO MANILA, PHILIPPINES – Media OutRech Newswire – 8 September 2026 – Jollibee Foods Corporation (PSE: JFC) and its subsidiaries (the “Jollibee Group”), today reported record second-quarter earnings for 2026, reflecting a clear margin recovery from first-quarter cost pressures, resilient consumer demand, and continued momentum across its international restaurant portfolio.

The Jollibee Group’s International segment grew 25.4% in system-wide sales in Q2, led by strong performances from Highlands Coffee (+46.7%), Jolli-K’s Compose Coffee (+39.7%), Europe, Middle East, Asia, and Australia (EMEAA) brands Jollibee and Chowking (+25.3%), Tim Ho Wan (+23.0%), Jollibee NA (+21.6%), and Milksha (+12.4%).

Growth across key Asian markets was particularly notable. Jollibee Vietnam delivered 17.9% same-store sales growth, while Highlands Coffee grew 11.5% and Compose Coffee grew 12.4%, contributing to the broader momentum of the Group’s International segment.

The Group’s Philippine business also continued to provide a strong foundation for overall performance, with system-wide sales increasing 5.7%, supported by strong contributions from Mang Inasal (+10.7%) and Jollibee (+6.6%).

The Jollibee Group recorded Php3.4 billion (approx. US$55 million) in net income attributable to equity holders of the parent company (NIAT), up 5.7% year-on-year and the highest quarterly NIAT on record. Consolidated revenues increased 10.7% year-on-year, while system-wide sales grew 14.2%.

“Our second-quarter results demonstrate the continued strength of the Jollibee Group’s global brand portfolio and the resilience of consumer demand across our key markets,” said Ernesto Tanmantiong, Global Chief Executive Officer of JFC. “We delivered healthy system-wide sales growth across all regions, supported by strong contributions from both our Philippine and international businesses, continued same-store sales growth, and ongoing expansion of our global store network.

“The breadth of our growth reflects the relevance of our brands, the strength of our value offerings, and the trust that customers continue to place in us. As we expand our presence in key markets and build a stronger global platform, we remain focused on serving more customers, strengthening our brands, and creating sustainable long-term value for our stakeholders.”

Second Quarter Performance: Sequential Recovery and Sustained Growth

The Jollibee Group’s second-quarter performance is best understood by first looking at the sequential recovery from Q1 cost pressures, followed by the year-on-year growth that demonstrates the continued strength of the business.

The discussion below first presents the quarter-on-quarter improvement in revenues, margins, and earnings, then places that recovery in the context of the Jollibee Group’s sustained year-on-year growth across its global portfolio.

Sequential Recovery: Quarter-on-Quarter Profitability Improvement

Quarter-on-quarter comparisons demonstrate the strength of the Jollibee Group’s recovery from the first quarter. Consolidated revenues increased by 12.2% versus Q1 2026, supporting a 25.3% increase in gross profit, a 56.1% increase in operating income, and a 130.5% increase in NIAT.

The margin recovery was also visible within the quarter. Gross profit margin improved to 18.5% in Q2 from 16.5% in Q1 and strengthened from 17.3% in April to 19.0% in June, indicating that the Group’s pricing and recovery actions are gaining traction even as the operating environment remains affected by elevated commodity, logistics, and other supply chain-related costs.

Operating leverage improved as the quarter progressed. Operating income margin increased to 7.2% in Q2 from 5.2% in Q1, while NIAT margin nearly doubled to 4.0% from 1.9%. By June, operating income margin had reached 9.1% and NIAT margin had reached 6.2%, providing a stronger exit rate entering the second half of 2026.

Reported profitability for the quarter was affected by Php239.0 million (approx. US$3.9 million) in transition-related costs, covering store closure and lease termination costs associated with the ongoing turnaround of Yonghe King and Smashburger toward predominantly franchised business models. These costs are aligned with the Jollibee Group’s continuing efforts to strengthen the long-term quality, scalability, and profitability of its portfolio.

Commenting on the Group’s sequential margin recovery and second-quarter earnings momentum, Richard Shin, Global Chief Financial and Risk Officer of JFC and Chief Executive Officer of Jollibee Group International Business, said:

“The second quarter represents an important step forward in our earnings momentum. Pricing actions implemented beginning in April, together with productivity, sourcing, and cost discipline initiatives, contributed to the recovery in gross profit margins and supported stronger operating income and NIAT margins.

“Sequentially, gross profit increased by 25.3%, operating income rose by 56.1%, and NIAT more than doubled versus Q1 2026, reflecting both cost recovery and stronger operating leverage from sustained topline growth.

“These portfolio actions involve near-term transition costs but are expected to support stronger long-term profitability, scalability, and overall portfolio quality.

“While the operating environment remains dynamic, our second-quarter performance demonstrates our ability to respond decisively, improve profitability, and continue investing for long-term growth. We enter the second half with stronger momentum, a continued focus on sustaining margin recovery, and continued confidence in the long-term growth prospects.”

Sustained Growth: Year-on-Year Business Momentum

On a year-on-year basis, consolidated revenues increased 10.7%, while system-wide sales grew 14.2%, underscoring sustained demand across the Jollibee Group’s global brand portfolio.

Note: (1) Amounts in Million Pesos except for per-share data
(2) Systemwide sales (SWS) is a management metric and is not part of the audited financial statements
(3) US$ amounts are presented for informational purposes using the exchange rate of PHP 61.36/US$1, applied consistently to comparative periods for comparability.

The International segment expanded by 25.4% in system-wide sales, reflecting broad-based growth across the Jollibee Group’s international portfolio. Shabu All Day, the Jollibee Group’s newest Korea-based brand under Jolli-K, contributed 5% to the International business’ SWS.

Asian markets continued to deliver strong performance during the quarter. Jollibee Vietnam grew 17.9% in same-store sales, while Highlands Coffee grew 11.5% and Compose Coffee grew 12.4%. These results contributed to the broader momentum of the Group’s International segment.

The Philippine business also delivered continued growth, with system-wide sales increasing 5.7%, supported by strong contributions from Mang Inasal (+10.7%) and Jollibee (+6.6%).

SSSG for the quarter grew 2.7%, with the Philippine business up 1.3% and the international business up 4.4%. In the Philippines, SSSG growth was mainly supported by higher spend per transaction. While traffic was affected by a strong prior-year base that benefited from election-related spending, trends improved over the course of the quarter, reaching broadly flat levels in June.

Several international markets delivered positive performance during the quarter, particularly North America, where Jollibee grew 8.6% and Smashburger grew 7.0%; Vietnam, where Jollibee grew 17.9% and Highlands Coffee grew 11.5%; and Korea, where Compose Coffee grew 12.4%.

Operating income increased year-on-year, supported by higher revenues and the initial benefits of pricing and margin recovery actions implemented during the quarter. NIAT rose by 5.7% to Php3.4 billion (approx. US$55 million), the highest quarterly NIAT on record, while earnings per share increased by 5.8% to Php2.949 (approx. US$0.048), reflecting the Group’s stronger bottom-line performance.

EBITDA increased by 7.3% year-on-year, driven by the Philippine business, where EBITDA grew by 12.8%, partly offset by a 0.4% decline in International EBITDA. The decline in International EBITDA was impacted by store closure and lease termination costs related to Smashburger and Yonghe King.

JFC increased its global store network by 6.4% year-on-year to 10,767 stores. This reflected 461 gross new store openings and the addition of 172 stores from the acquisition of Shabu All Day, partly offset by 207 store closures during the first half.

Of the gross new store openings, 323 stores, or approximately 70%, were franchised, keeping the Group’s franchised ratio at 70%. The total store network comprised 3,516 stores in the Philippines and 7,251 stores internationally, including 602 in China, 340 in North America, 455 in EMEAA, 1,062 under Highlands Coffee mainly in Vietnam, 1,097 under CBTL, 358 under Milksha, 3,098 under Compose Coffee, 156 under Shabu All Day, and 83 under Tim Ho Wan.

Full Year 2026 Guidance

The Jollibee Group’s confidence is supported by growth catalysts that provide a stronger foundation for sustained performance over the medium term, including continued international expansion, a growing base of committed franchisees in key markets such as North America, and ongoing portfolio optimization initiatives. Recent developments in Vietnam and China illustrate the Group’s ability to pursue high-quality growth across markets with different growth profiles and strategic priorities.

Jollibee Vietnam has emerged as one of the Jollibee Group’s strongest international growth engines, leading the category in sales and ranked as the No. 1 quick-service restaurant brand in Vietnam by Euromonitor International in its Consumer Foodservice 2026 study. In Q2 2026, Jollibee achieved 47.6% system-wide sales growth and 17.9% same-store sales growth, supported by disciplined execution and continued network expansion, with 19 new stores opened in the first half of the year. Attractive unit economics, with store payback of less than four years, reinforce confidence in the sustainability of future growth.

In North America, Jollibee recently signed its first multi-unit development agreement in British Columbia, following a 10-store development agreement for the Edmonton market. Together, these agreements add 26 committed franchise locations to Jollibee’s existing Canadian network and are expected to nearly double the brand’s Canadian footprint over the next five years if completed as planned. The developments also provide a foundation for further expansion across the country.

In China, Jollibee Group’s franchise ratio, comprising Yonghe King, Hong Zhuang Yuan, Jollibee Hong Kong, and Jollibee Macau, has increased significantly to 62% today from 14% in 2016, reflecting continued progress toward a more scalable and asset-light operating model. Its largest brand, Yonghe King, has achieved a franchise ratio of 65% and is targeting 70% by the end of 2026, with a medium-term target of up to 95%. Yonghe King’s new stores typically achieve payback in approximately two years.

The Jollibee Group remains focused on pursuing high-quality growth opportunities that generate attractive returns on invested capital, with disciplined capital allocation and capital-light expansion continuing to guide its growth strategy.

Other Developments

Recognition for Global Brand Influence

The Jollibee Group was named to TIME’s 100 Most Influential Companies of 2026, where it was recognized as a “fried chicken phenom.” The Company was also included in the inaugural TIME100 Companies: Industry Leaders list as one of the Top 10 companies in the Food & Drink category.

In July, the Jollibee Group was included in Fortune’s Southeast Asia 500 list, reinforcing its position among the region’s leading companies. Jollibee was also recognized by USA Today as having the Best Fast Food Fried Chicken, further strengthening the brand’s global consumer relevance and reinforcing its leadership in great-tasting food.

Sustainability and ESG Progress

The Jollibee Group continued to advance its sustainability agenda and strengthen its ESG initiatives. For the second consecutive year, the Company received the 3G Excellence in Sustainability Reporting Award 2026, recognizing its commitment to transparent and meaningful sustainability disclosures.

The Company’s Danao commissary was also awarded LEED Gold certification under LEED v4.1 ID+C: Commercial Interiors, becoming the first manufacturing facility in the Philippines to achieve LEED certification for interior design and construction. The recognition reflects the Jollibee Group’s ongoing investment in more sustainable and future-ready operations.

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Forward-Looking Statement Disclaimer

The foregoing disclosure contains forward-looking statements that are based on certain assumptions of Management and are subject to risks, opportunities, and unforeseen events. Actual results could differ materially from those contemplated in the relevant forward-looking statement, and JFC gives no assurance that such forward-looking statements will prove to be correct, or that such intentions will not change. This press release discloses important factors that could cause actual results to differ materially from JFC’s expectations. All subsequent written and oral forward-looking statements attributable to JFC, or any person acting on behalf of JFC, are expressly qualified in their entirety by the above cautionary statements.

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Strengthens Trade Connectivity Across the Middle East and Africa

DUBAI, UAE – Media OutReach Newswire – 3 September 2026 – XTransfer, World’s Leading B2B Cross-Border Trade Payment Platform, is pleased to announce that it has secured in-principle approval for a Retail Payment Services Licence from the Central Bank of the UAE, marking another important milestone in the company’s global regulatory expansion and growing presence in the Middle East.

Upon completing the pre-issuance conditions, the licence will enable XTransfer to serve mainland UAE clients and further expand its regulated B2B payment services in the country. Through this licence, XTransfer aims to support businesses engaged in international trade with compliant, secure and efficient payment solutions tailored to cross-border transactions.

The UAE is a key market in XTransfer’s Middle East and Africa strategy. As a major regional trade and re-export hub, the UAE plays an important role in connecting Chinese trade with Africa and wider emerging markets. XTransfer’s presence in the UAE will further strengthen its ability to support trade flows between China, the Middle East, and Africa, providing businesses with more accessible and reliable cross-border payment services.

“Receiving conditional approval from the Central Bank of the UAE is a key milestone for XTransfer’s global regulatory expansion,” said Bill Deng, Founder and CEO of XTransfer. “The UAE is one of the world’s most important trade hubs and an essential gateway between Asia, the Middle East and Africa. This approval reinforces our confidence in the UAE market and its long-term growth potential across the region.”

Following successful licensing across major trade hubs in Asia and Europe, the UAE licence marks another important milestone in XTransfer’s international regulatory roadmap and reflects the company’s growing presence in the Middle East. XTransfer will continue to invest in regulated markets and strengthen its payment infrastructure to support SMEs and trading businesses participating in cross-border commerce.
https://www.xtransfer.com
https://www.linkedin.com/company/xtransfer.cn

Hashtag: #XTransfer #UAE #PaymentLicence #Crossborder #Payment #SMEs

XTransfer