Monday, 4 May 2026

AM BEST AFFIRMS VIETNAM NATIONAL REINSURANCE CREDIT RATINGS

KUALA LUMPUR, May 4 (Bernama) -- AM Best has affirmed the financial strength rating of B++ (Good), the long-term issuer credit rating of “bbb+” (Good), and the Vietnam National Scale Rating of aaa.VN (Exceptional) of Vietnam National Reinsurance Corporation (VINARE).

The outlook of these credit ratings (ratings) is stable, reflecting VINARE’s very strong balance sheet strength, strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

VINARE’s balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which was at the strongest level at year-end 2025 and is expected to remain at this level over the medium term.

Offsetting factors include moderate investment risk driven by equity holdings, as well as reliance on retrocession for large commercial risks, although associated credit risks are partly mitigated by the sound quality of counterparties, according to AM Best in a statement.

The global credit rating agency assesses VINARE’s operating performance as strong, supported by its five-year average return-on-equity ratio of 10.8 per cent (fiscal years 2021 to 2025).

The company has generated robust underwriting profits, supported by favourable underwriting performance of its commercial businesses, although partially offset by a higher expense ratio. Investment income remains the key contributor to its overall earnings, with a net investment income ratio of 22.6 per cent in fiscal year 2025.

Prospectively, AM Best expects VINARE to maintain strong operating performance, supported by its core commercial business and stable investment income.

As Vietnam’s national reinsurer, VINARE benefits from long-standing relationships with local cedants and derives the majority of its premium from the domestic market. The company maintains a well-diversified underwriting portfolio across business lines, although it remains exposed to elevated product risk due to its sizable commercial and industrial risk exposure.

VINARE’s ERM is assessed as appropriate, supported by its risk management framework and technical expertise, including support from its second-largest shareholder, Swiss Reinsurance Company Ltd.

-- BERNAMA

ION EXCHANGE, MANN+HUMMEL PARTNER ON ADVANCED MEMBRANE SOLUTIONS

KUALA LUMPUR, May 4 (Bernama) -- Ion Exchange (India) Ltd, a global total water and environment management solutions provider, has entered into a strategic collaboration with MANN+HUMMEL to manufacture advanced membrane solutions and expand technology capabilities in India.

The companies will work together to produce advanced polyvinylidene fluoride (PVDF) ultrafiltration (UF) membranes with integrated UltraSKID systems and will also bring Membrane Bioreactor (MBR) technology to India.

The partnership combines MANN+HUMMEL Water & Membrane Solutions’ global expertise in membrane technology with Ion Exchange’s manufacturing capabilities, engineering strength and established global presence in water and wastewater treatment.

Ion Exchange Senior Vice President (SVP), Sridhar Padmanaban said the collaboration marked a significant milestone in advancing the company’s HYDRAMEM membrane solutions.

“It is an important step in our journey to deliver differentiated, high-performance and sustainable solutions to customers across global markets,” he said in a statement.

Meanwhile, MANN+HUMMEL Water & Membrane Solutions SVP and General Manager, Rohit Sathe said the partnership brings together complementary strengths to enhance the availability of high-performance filtration solutions, supporting evolving customer needs across markets.

Under the agreement, Ion Exchange will manufacture, integrate systems and commercialise PVDF hollow fibre ultrafiltration membranes with UltraSKID systems based on MANN+HUMMEL’s advanced technology.

Production will take place at Ion Exchange’s expanded state-of-the-art HYDRAMEM membrane manufacturing facility in Goa, India, supporting both domestic and international demand.

The collaboration is expected to improve supply resilience, reduce lead times and deliver advanced membrane solutions more efficiently through localised manufacturing.

-- BERNAMA

LyondellBasell completes sale of select European strategic assessment assets

 

Transaction with AEQUITA advances company’s portfolio realignment


ROTTERDAM, Netherlands, May 4 (Bernama-GLOBE NEWSWIRE) -- LyondellBasell (NYSE: LYB) today announced that it has successfully completed the sale of select European olefins and polyolefins assets, and the associated business and corporate functions, to AEQUITA as a key milestone in the company’s European strategic assessment. The transaction follows completion of required employee information and consultation processes and satisfaction of customary regulatory and closing conditions.

The divestiture supports the company’s strategy to grow and upgrade the core by further concentrating on assets and businesses with durable competitive advantages and stronger long-term returns, while enhancing financial flexibility and supporting disciplined capital allocation.

The assets sold in the transaction are located in Berre (France), Münchsmünster (Germany), Carrington (UK), and Tarragona (Spain). LYB will continue to operate its Advanced Polymer Solutions (APS) business in Tarragona.

“This transaction represents a pivotal achievement in our transformation,” said Peter Vanacker, chief executive officer of LyondellBasell. “By finalizing this sale, we have refined our portfolio and enhanced our capacity to allocate capital toward high-return opportunities that contribute to long-term value creation.” 

Vanacker added, “Europe remains an integral market for LYB; we will continue to invest where value creation is strong, reinforcing our leadership in specialty polymers, building a profitable Circular & Low Carbon Solutions business, and advancing our leadership in technology and innovation. We extend our gratitude to our colleagues transferring as part of this transaction for their contributions, professionalism, and resilience throughout the process. As they transition to a standalone business under AEQUITA ownership, we wish them and the new company success in the next chapter ahead.” 

Following today’s closing, the divested business will be named and operated as Velogy. 

“This closing marks an important step in building a scaled and competitive European polymers platform, a sector where we see strong fundamentals and attractive long-term value creation potential,” said Dr.-Ing. Axel Geuer, AEQUITA-Founder and Chairman. “We thank LyondellBasell for the constructive collaboration throughout the process and are excited to begin the next step of partnering with Velogy’s employees to reinforce and further enhance the Company’s leading services to customers and suppliers.”

LYB remains committed to operating its remaining assets safely and reliably and to continuing to serve customers and partners with the same high standards. 

Advisors 
Citi and J.P. Morgan Securities LLC acted as financial advisors, and Linklaters LLP acted as legal counsel to LyondellBasell.

About LyondellBasell 
We are LyondellBasell (NYSE: LYB) ― a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors, and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

About AEQUITA 
AEQUITA is a Munich-based industrial group investing in corporate carve-outs, succession situations, and transformational opportunities across Europe, North America, and Asia. Its portfolio companies generate more than EUR 10 billion in revenues across three segments — automotive, chemicals, and industrials — and employ over 19,000 people worldwide. Backed by a strong capital base and deep operational expertise, AEQUITA acquires and sustainably develops companies with long-term value creation potential. For more information, visit www.aequita.com.

Media Inquiries LYB Global 
LyondellBasell Media Relations 
Phone: +1-713-309-7575 
Email: mediarelations@lyondellbasell.com
Or: 
Media Inquiries LYB Europe 
Esther Clason, Communications EMEAI 
Phone: +31 6 388 269 30 
Email: Esther.Clason@lyondellbasell.com

Media Inquiries AEQUITA SE & Co. KGaA 
Kolja Hübner, Partner 
Gabrielenstr. 9, 80636 Munich 
Phone: +49 89 2620 4840-0
Email: contact@aequita.com 

Forward-Looking Statements LYB 
The statements in this release relating to matters that are not historical facts are forward-looking statements. Actual results could differ materially based on factors including, but not limited to, our ability to align our asset base with our strategic goals; our ability to create long-term value for our stakeholders; and our ability to build a profitable Circular & Low Carbon Solutions business. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2025, which can be found at www.LyondellBasell.com on the Investors page and on the Securities and Exchange Commission’s website at www.sec.gov. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change, except as required by law.  


SOURCE: LyondellBasell

MODON SELLS OUT TARA PARK PROJECT, NEARS 2 BLN EMIRATI DIRHAM IN SALES

 

Modon announces the sell-out of Tara Park on Reem Island, Abu Dhabi, generating nearing AED 2 billion in sales (Photo: AETOSWire)


KUALA LUMPUR, May 4 (Bernama) -- Modon, an Abu Dhabi-headquartered international holding company, has announced the sell-out of Tara Park on Reem Island, with the project generating nearly two billion Emirati dirham in sales. (100 Emirati dirham = RM107.65)

The development is located close to Abu Dhabi Global Market (ADGM), reflecting strong investor demand and reinforcing the emirate’s position as a global safe-haven investment destination, according to Modon in a statement.

Modon Holding Group Chief Executive Officer, Bill O’Regan said the project demonstrates sustained market confidence.

“Tara Park further validates Modon’s disciplined, market-driven approach, connecting a prime location and thoughtful placemaking to generate sustainable urban growth and long-term value.

“We continue to see strong demand across the market, which speaks to the confidence that local and international buyers continue to place in Abu Dhabi, particularly for projects where clear attention to quality of life supports future investment potential,” he said.

Tara Park comprises six residential towers with 834 apartments across one-, two-, and three-bedroom layouts that are interlinked by an active podium that connects residents to a wide range of amenities.

Connected to Reem Mall, Tara Park also offers easy access to Fay Park, Sorbonne University Abu Dhabi and Repton School, alongside proximity to Abu Dhabi’s international financial hub, ADGM, The Galleria Mall, and the wider city.

-- BERNAMA

Thursday, 30 April 2026

Estithmar Holding Reports 97% Surge YoY in Q1 2026 in Net Profit to QAR 333 Mn


Table

Estithmar Holding Reports 97% Surge YoY in Q1 2026 in Net Profit to QAR 333 Mn (Photo: AETOSWire) 
 
  • Strong performance reflects sustained upward momentum driven by international expansion and operational efficiency
  • Digital transformation initiatives in automation and artificial intelligence enhanced productivity, governance, and cost optimization

DOHA, Qatar, April 30 (Bernama-BUSINESS WIRE) -- Estithmar Holding Q.P.S.C. announced its financial results for the first quarter of 2026, reporting a net profit of QAR 333 million, marking a significant 97% increase compared to the same period last year. The results underscore the strength of the Company’s operating model and the successful execution of its expansion strategy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260429718889/en/ 

The company recorded revenues of QAR 1.455 billion, up from QAR 1.309 billion in Q1 2025. Gross profit rose to QAR 561 million compared to QAR 416 million, representing a year-on-year increase of 35%. EBITDA grew by 73% to reach QAR 473 million, while earnings per share increased by 90% to QAR 0.089.

These results reflect comprehensive growth across all key financial indicators, supported by a clear investment vision and the Company’s ability to balance geographic expansion, portfolio diversification, and operational efficiency. International investments announced in previous periods have begun to deliver tangible impact, contributing to revenue growth, enhanced profitability, and asset base expansion.

The strong growth in net profit is attributed to the Company’s disciplined approach to operational efficiency and value creation, alongside prudent capital management and effective risk management practices. In parallel, digital transformation initiatives, particularly in automation and artificial intelligence, have played a key role in improving productivity, strengthening governance, and optimizing costs.

The results also highlight a balanced contribution across the Company’s business Groups; healthcare, services, tourism and real estate development, and industries & specialized contracting, demonstrating each Group’s success in executing its growth strategy within an integrated strategic framework.

Commenting on the results, Juan Leon, CEO of Estithmar Holding, said:
“The Q1 results reflect the strength of our business model and our ability to deliver accelerated and sustainable growth simultaneously. This performance goes beyond achieving record figures, it demonstrates the quality of our investment decisions and disciplined execution across markets and sectors. The balance between revenue growth and improved profitability, supported by strong operational performance and healthy cash flows, highlights our efficiency and our ability to translate expansion into tangible shareholder value.”

Read More for the full Press Release

Source: AETOSWire

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20260429718889/en/

Contact

Nesrine Nacef
n.nacef@estithmarholding.com 

Source : Estithmar Holding Q.P.S.C. 

Wednesday, 29 April 2026

MAVENIR PACKET CORE GOES LIVE WITH JAPAN'S RAKUTEN MOBILE

KUALA LUMPUR, April 29 (Bernama) -- Mavenir, the software company building artificial intelligence (AI)-by-design mobile networks, announced that its Converged Packet Core is now live in Rakuten Mobile’s nationwide mobile network, deployed on Rakuten Cloud Platform.

Mavenir, in a statement said the deployment plays a key role in enabling Rakuten Mobile to deliver multi-carrier roaming via ‘JAPAN Roaming’, a nationwide emergency service launched by Japan’s leading mobile carriers on April 1.

Mavenir Executive Vice President and General Manager, Packet Core, Security and Messaging, Michael Cooper said the deployment demonstrates how cloud-native packet core technology can support resilient, large-scale connectivity under extreme network conditions, contributing to public safety and service continuity.

Meanwhile, Rakuten Mobile General Manager of the Core Network Department, Ryo Watanabe said Mavenir’s cloud-native packet core is central to the operator’s role in JAPAN Roaming, enabling flexible and reliable connectivity when it is needed most.

Mavenir’s cloud-native packet core provides the scalable, resilient data foundation required for Rakuten Mobile to support cross-carrier access under emergency conditions, demonstrating how cloud-based core networks can strengthen national communications infrastructure and support service continuity at scale.

JAPAN Roaming enables users to temporarily connect to another domestic carrier’s 4G LTE network if their primary service is disrupted by major outages or disasters. The service supports 4G LTE voice, SMS and data, alongside an emergency-calls-only mode to maintain access to critical services.

Mavenir added that its cloud-native core portfolio supports voice, data, messaging, fraud protection and security, and is designed to scale with operators’ evolving service and resilience requirements—enabling faster service deployment, increased automation and improved responsiveness to changing network conditions.

The company also noted its long-standing relationship with Rakuten Mobile, including earlier deployments of cloud-native voice and messaging capabilities for Rakuten Link, supporting ongoing service innovation within the operator’s fully virtualised network.

-- BERNAMA

Tuesday, 28 April 2026

Bitget Launches Blockchain4Youth Learning Hub to Strengthen the Future Web3 Workforce

VICTORIA, Seychelles, April 28 (Bernama-GLOBE NEWSWIRE) -- Bitget, the world’s largest Universal Exchange (UEX), has announced the launch of the Blockchain4Youth Learning Hub: Semester 1, a new education initiative designed to help young learners explore blockchain not only as a field of study, but as a viable career path in the digital economy.

As part of Bitget’s broader Blockchain4Youth initiative, the Learning Hub expands the program’s mission of making blockchain education more accessible and actionable for young people worldwide. Through recent initiatives such as the LALIGA Youth Tournament in Thailand, its partnership with Google Developer Group on Campus, and the Web3 Young Learners’ Encyclopedia, Blockchain4Youth has engaged more than 15,000 participants since launch, reflecting its ongoing commitment to youth development and the rising interest among students in finding clearer pathways into the Web3 industry.

The Blockchain4Youth Learning Hub combines structured learning with professional recognition and career-oriented support. Learners who complete the program and pass the assessments will receive a Certificate of Completion signed by Ignacio Aguirre Franco, Chief Marketing Officer of Bitget, giving them a credential they can present across their professional profiles.

The certificate is intended to serve as more than proof of participation. It offers verified recognition of Web3 competency and unlocks access to a broader network of opportunities. Certificate holders can benefit from priority review for opportunities at Bitget and gain entry to the Blockchain4Youth Talent Alliance, a core pillar of the program designed to connect certified learners with the wider Web3 industry. Through the alliance, participants can access priority opportunities, industry exposure, and networking channels, creating a clearer pathway between demonstrated knowledge and real-world professional roles.

As part of this effort, Bitget has confirmed a partnership with Bondex, the Web3 professional network behind web3.career, the largest job board in the industry. Through the partnership, Bitget and Bondex aim to make career entry points into Web3 more transparent and accessible for the next generation of builders and professionals

“Most young people trying to break into Web3 hit the same wall, they take a course, then have no network, no verified credentials, and no clear path to a job.” said Ignacio Palomera, Co-Founder of Bondex. “Blockchain4Youth and Bondex fix that. Finish the program, build a verified profile, be discovered in the Bondex trusted talent pool and apply directly to companies hiring on web3.career. It's the bridge the industry's been missing.

“A lot of young people are interested in Web3, but interest alone does not always show them where to begin,” said Ignacio Aguirre Franco, CMO of Bitget. “The Learning Hub is about making that first step feel more real by giving learners knowledge, recognition, and a better sense of where this path can lead. When young talent can see opportunity more clearly, they are more likely to believe they belong in the future of this industry.”

Ultimately, Blockchain4Youth Learning Hub reflects a broader commitment to building long-term infrastructure for Web3 education and talent development. More than a standalone campaign, the Learning Hub demonstrates how Blockchain4Youth is evolving into a sustained platform that supports learners as they move from discovery to skill-building, and from participation to contribution. Through this initiative, Bitget continues to position itself not only as a platform for digital assets, but also as an ecosystem builder helping shape the workforce that will define the next phase of Web3.

The B4Y Talent Alliance welcomes recruiting companies that want to connect with emerging talent, expand industry access, and create more pathways into Web3. Interested organizations can contact blockchain4youth@bitget.com.

About Bitget

Bitget is the world's largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 100+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships with LALIGA and MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry's lowest fees and highest liquidity across 150 regions worldwide.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b28d747f-7398-4f75-918b-9c886aeae023

SOURCE: Bitget Limited

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--BERNAMA