Vietnam Passes Law to Tackle Bank Crisis, Resolving Bad Debts
Under the legislation, which was approved by the National Assembly Friday and takes effect from Oct. 15, the State Bank of Vietnam is authorized to provide special unsecured loans with zero lending rates to troubled banks - a power previously held by the Prime Minister.
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Fluence and ACE Engineering Launch State-of-the-Art Automated Energy Storage Factory in Vietnam
ARLINGTON, Va., Aug. 20, 2025 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. ("Fluence") (NASDAQ: FLNC), a global market leader delivering intelligent energy storage, services, and asset optimization software, and ACE Engineering, today announced the completion and opening of a state-of-the-art, automated production facility in Bac Giang Province, Vietnam. The future-ready site is designed to manufacture Fluence's innovative energy storage solutions, including Gridstack Pro™ and Smartstack™. With projected annual manufacturing capacity of 35 GWh, the facility features a fully automated production process that is designed to enhance productivity and safety. We believe the opening of this facility marks a crucial milestone in meeting the increasing global demand for high-performance energy storage solutions. 'This facility builds on our deep strategic relationship with ACE Engineering, taking us to the next level of manufacturing excellence,' said Julian Nebreda, President and Chief Executive Officer, Fluence. 'By combining advanced automation with rigorous quality standards, we believe we are optimally situated to meet stringent customer requirements and deliver competitively at the speed and scale the market demands.' 'This state-of-the-art facility represents an expanding strategic partnership between Fluence and ACE,' said Danny You, Chief Executive Officer of ACE Engineering. 'With this initiative, Fluence and ACE will be positioned to provide customers with flexible manufacturing solutions, shorter lead times, and highest quality standards.' The investment underscores the shared vision of Fluence and ACE Engineering to drive innovation and execution in the energy storage sector, helping to advance the global shift towards sustainable energy Fluence Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. The Company's solutions and operational services are helping to create a more resilient grid and unlock the full potential of renewable portfolios. With gigawatts of projects successfully contracted, deployed, and under management across nearly 50 markets, the Company is transforming the way we power our world for a more sustainable future. For more information, visit our website, or follow us on Linkedln or X. To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog. Cautionary Note Regarding Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the anticipated operational performance of the new production facility, ability to meet requirements and timing for customers and the market, and other beliefs, assumptions, prospects, plans, and objectives of management. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as "may," "possible," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "commits", "believes," "estimates," "predicts," "potential," or "continue," or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, changes to the regulatory environment in Vietnam and United States, including relating to tariffs, general economic conditions, the potential for political, social, or economic unrest, terrorism, hostilities or war, unforeseen circumstances outside of Fluence's control which may cause the facility to not perform as anticipated, and such factors set forth under Item 1A."Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024, filed with the Securities and Exchange Commission ("SEC") on November 29, 2024, and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law. Media ContactShayla Ebsen, Director of CommunicationsEmail: Phone: +1 (605) 645-7486 Analyst ContactLexington May, Vice President of Investor Relations and SustainabilityEmail: investorrelations@ +1 (713) 909-5629Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
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ChatGPT Competitor Manus Reaches $90 million Run Rate
This article first appeared on GuruFocus. Butterfly Effect, the startup behind AI upstart Manus, just put a number on its growth and it's a big one. Co-founder Peak Ji said at an event in Singapore that the company has hit a $90 million annual revenue run rate, the first time it's given any kind of financial peek. Warning! GuruFocus has detected 5 Warning Signs with NVDA. Most of that money is coming from Manus, its flagship AI agent platform, though the company also counts older products like Monica in the mix. The figure shows Manus isn't just riding hype it's actually turning into a serious business. That kind of traction has investors and analysts drawing comparisons with the giants of the field OpenAI, backed by Microsoft (NASDAQ:MSFT), along with Google (NASDAQ:GOOG) and Anthropic. Butterfly Effect may not be a household name yet, but the revenue pace puts it firmly in the conversation with some of the most advanced players in AI.
Bloomberg
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Bullish Bets on Philippine Bonds Grow on Index Inclusion Hopes
The Philippines may soon rise from the bottom of Southeast Asia's government debt leaderboard, thanks to the prospect of entering a major global bond index and further local monetary easing. Goldman Sachs Group Inc. is bullish on peso government notes ahead of the latter's potential inclusion into JPMorgan Chase & Co.'s flagship emerging-market gauge — the GBI-EM Global Diversified index — in September. A local currency that's more insulated from US tariffs and domestic interest rate cuts are also supportive, Goldman strategists including Danny Suwanapruti and Xinquan Chen wrote in a recent note.
