Latest news with #GCC
Globe and Mail
an hour ago
- Automotive
- Globe and Mail
SERES Invited to Attend ASEAN-China-GCC Economic Forum
CHONGQING, China and KUALA LUMPUR, Malaysia , May 30, 2025 /CNW/ -- On May 27 , the ASEAN-China-GCC Economic Forum officially opened in Kuala Lumpur , aiming to create development opportunities and shared prosperity by strengthening cooperation in economy, trade, investment, and other fields. SERES, as a representative of China's new energy vehicle (NEV) enterprises, was invited to attend the forum. John Zhang, Chairman and President of SERES Group stated that with the brand slogan of "Intelligence Redefining Luxury," SERES focuses on the high-end luxury vehicle market, exploring a development path for Chinese automakers. For the markets of ASEAN and GCC member countries participating in the forum, SERES will accelerate the localized development and certification of relevant models, especially the high-end AITO series, to swiftly introduce them into target markets and achieve full coverage in the future. SERES' vehicle export business began in 2005. After years of development, the company has exported over 550,000 vehicles cumulatively to more than 70 countries and regions, including Germany , France , the UK, and Italy . In 2018, SERES established and put into operation a highly automated manufacturing plant in Indonesia integrating four major processes - stamping, welding, painting, and assembly, which became the first pure electric vehicle manufacturer in Indonesia . With a foothold in Indonesia , SERES is expanding its reach across ASEAN and continuously growing its presence in the Southeast Asian market. By attending the ASEAN-China-GCC Economic Forum, SERES is expected to further strengthen exchanges and cooperation with ASEAN and GCC member countries, accelerating the materialization of its overseas market expansion. During the interview, John Zhang introduced that SERES was founded in 1986 and has undergone three entrepreneurial phases—transitioning from auto parts to complete vehicles, and now to intelligent electric vehicles—achieving leapfrog development each time. Now, AITO brand is redefining luxury with intelligence and pioneering a "New Luxury" concept combining Traditional Luxury and Technological Luxury. With leading product strength, AITO has won recognition from more than 600,000 users, establishing itself as the benchmark of "New Luxury" in China . As a technology-driven company, SERES is committed to innovations of core technologies in electrification and intelligence, having developed the SERES MF Platform, SERES Super Range Extender, SERES Intelligent Safety, and SERES Super Factory, building a robust technological moat. In the face of the opportunities and challenges brought by global economic integration, SERES will embrace a more open and inclusive mindset, working together with partners from all sectors to jointly write a new chapter in the development of China's new energy vehicle industry. About SERES Founded in 1986, SERES is a leading technology company specializing in new energy vehicles (NEVs). With a workforce of approximate 20,000 employees, SERES is publicly listed on the A-share market and ranks among the Fortune China 500. The company is dedicated to the research and development, manufacturing, sales and services of new energy vehicles and their core NEV components. The name SERES is inspired by the Greek word for "the land of silk", evoking the luxuries of heritage of the East. SERES offers two NEV brands for overseas markets: AITO and DFSK. These brands provide a diverse range of products tailored to different market segments, with AITO focusing primarily on the high-end luxury segment. To date, SERES has exported over 550,000 vehicles to more than 70 countries and regions, including Germany , France , the United Kingdom , Italy , and many more countries.
Yahoo
an hour ago
- Automotive
- Yahoo
SERES Invited to Attend ASEAN-China-GCC Economic Forum
CHONGQING, China and KUALA LUMPUR, Malaysia, May 30, 2025 /PRNewswire/ -- On May 27, the ASEAN-China-GCC Economic Forum officially opened in Kuala Lumpur, aiming to create development opportunities and shared prosperity by strengthening cooperation in economy, trade, investment, and other fields. SERES, as a representative of China's new energy vehicle (NEV) enterprises, was invited to attend the forum. John Zhang, Chairman and President of SERES Group stated that with the brand slogan of "Intelligence Redefining Luxury," SERES focuses on the high-end luxury vehicle market, exploring a development path for Chinese automakers. For the markets of ASEAN and GCC member countries participating in the forum, SERES will accelerate the localized development and certification of relevant models, especially the high-end AITO series, to swiftly introduce them into target markets and achieve full coverage in the future. SERES' vehicle export business began in 2005. After years of development, the company has exported over 550,000 vehicles cumulatively to more than 70 countries and regions, including Germany, France, the UK, and Italy. In 2018, SERES established and put into operation a highly automated manufacturing plant in Indonesia integrating four major processes - stamping, welding, painting, and assembly, which became the first pure electric vehicle manufacturer in Indonesia. With a foothold in Indonesia, SERES is expanding its reach across ASEAN and continuously growing its presence in the Southeast Asian market. By attending the ASEAN-China-GCC Economic Forum, SERES is expected to further strengthen exchanges and cooperation with ASEAN and GCC member countries, accelerating the materialization of its overseas market expansion. During the interview, John Zhang introduced that SERES was founded in 1986 and has undergone three entrepreneurial phases—transitioning from auto parts to complete vehicles, and now to intelligent electric vehicles—achieving leapfrog development each time. Now, AITO brand is redefining luxury with intelligence and pioneering a "New Luxury" concept combining Traditional Luxury and Technological Luxury. With leading product strength, AITO has won recognition from more than 600,000 users, establishing itself as the benchmark of "New Luxury" in China. As a technology-driven company, SERES is committed to innovations of core technologies in electrification and intelligence, having developed the SERES MF Platform, SERES Super Range Extender, SERES Intelligent Safety, and SERES Super Factory, building a robust technological moat. In the face of the opportunities and challenges brought by global economic integration, SERES will embrace a more open and inclusive mindset, working together with partners from all sectors to jointly write a new chapter in the development of China's new energy vehicle industry. About SERES Founded in 1986, SERES is a leading technology company specializing in new energy vehicles (NEVs). With a workforce of approximate 20,000 employees, SERES is publicly listed on the A-share market and ranks among the Fortune China 500. The company is dedicated to the research and development, manufacturing, sales and services of new energy vehicles and their core NEV components. The name SERES is inspired by the Greek word for "the land of silk", evoking the luxuries of heritage of the East. SERES offers two NEV brands for overseas markets: AITO and DFSK. These brands provide a diverse range of products tailored to different market segments, with AITO focusing primarily on the high-end luxury segment. To date, SERES has exported over 550,000 vehicles to more than 70 countries and regions, including Germany, France, the United Kingdom, Italy, and many more countries. View original content to download multimedia: SOURCE SERES Sign in to access your portfolio
Yomiuri Shimbun
an hour ago
- Business
- Yomiuri Shimbun
ASEAN: Trump's Tariff Measures Invite Trade Reorganization
The high tariff policy of U.S. President Donald Trump's administration is causing a global tectonic shift in economic blocs. Recent moves surrounding the Association of Southeast Asian Nations (ASEAN) can be said to be a new development that symbolically indicate this. ASEAN held its first joint summit with China and the Gulf Cooperation Council (GCC), a group of six Middle Eastern countries that includes Saudi Arabia, in Malaysia. The joint statement released after the summit included the importance of multilateralism and the cooperation of ASEAN, China and the GCC on promoting trade and investment. ASEAN has conventionally been wary of becoming embroiled in the U.S.-China confrontation, and it has spent a great deal of effort in striking a balance between the two countries. But Malaysian Prime Minister Anwar Ibrahim, who is ASEAN chair this year, invited China for the first time into the existing ASEAN summit framework with the GCC. The United States has indicated that it intends to impose high reciprocal tariffs on Cambodia and other countries, claiming that China is exporting Chinese products via Southeast Asia. In response, Anwar has criticized the move as 'unilateral,' expressing his willingness for ASEAN as a whole to unite in negotiations with the United States, while each member country continues its own individual negotiations with Washington. As part of this effort, ASEAN is apparently seeking to build a new economic bloc together with China, its largest trading partner, and oil-producing countries, to fill the gap in trade with the United States, which is expected to decline due to the U.S. tariff measures. Meanwhile, the administration of Chinese President Xi Jinping is trying to bring both regions into its camp and strengthen its countermeasures against the United States. Xi visited three Southeast Asian countries last month, and immediately after that, Premier Li Qiang attended the joint summit. This unprecedented approach indicates that Beijing sees the current situation as an opportunity to strengthen its ties with ASEAN. However, China is continuing its aggressive military maritime expansion in the East China Sea and the South China Sea and also threatens trade partners with 'economic coercion' by restricting trade. If China sees itself as a defender of multilateral cooperation and free trade, it should change this behavior. If ASEAN distances itself from the United States and China's influence grows too strong in the region, it could not only have a negative impact on the global economy, but it could also significantly alter the security environment in the region. Japan also needs to respond to the movement to build a new economic bloc centered on ASEAN. While utilizing existing frameworks, including one between the three countries of Japan, China and South Korea along with ASEAN and the Trans-Pacific Partnership agreement, Japan should promote economic cooperation with other countries and regions to maintain the free trade regime and strengthen regional stability. (From The Yomiuri Shimbun, May 30, 2025)
Al Bawaba
3 hours ago
- Business
- Al Bawaba
LG Enhances Home Entertainment Across the Region With 2025 Ai-powered Oled and Qned Tv Lineup
LG Electronics (LG) is revolutionizing the home entertainment landscape with the launch of its groundbreaking 2025 OLED and QNED TV lineup. Starting this May, consumers across the GCC and Caucasus regions can experience the future of television, powered by advanced AI technology and delivering unparalleled picture and sound year's flagship collection represents the evolution of LG's AI TV technology, integrating powerful AI processors to deliver truly immersive and personalized viewing experiences. The new OLED and QNED models captivate audiences with innovative features and seamless integration into the modern smart home latest TVs represent a significant technological leap forward, featuring AI Picture Pro technology that analyzes and optimizes content in real-time to enhance clarity, color, and contrast for truly lifelike pictures. LG's Dynamic Tone Mapping Pro further refines image quality by intelligently splitting scenes into blocks, delivering more vivid and realistic visuals than ever audio experience is equally impressive, with AI Sound Pro creating a virtual surround sound experience that delivers exceptional depth and spatial clarity through the TV's built-in speakers. By analyzing audio content and optimizing sound settings for different genres, the technology ensures an immersive audio experience, while AI Sound Tuning calibrates settings based on room acoustics and user preferences for perfectly tailored intuitive AI Concierge provides personalized content recommendations based on viewing habits, while AI Search, powered by large language models, helps users find content faster through natural language queries, delivering more relevant and personalized search results. The AI Picture Wizard analyzes user preferences and viewing environments to automatically optimize picture settings for the best possible convenience comes through multi-platform connectivity via ThinQ and Google Home integration, with the new webOS platform allowing users to effortlessly manage their smart home ecosystem. Built-in support for Apple AirPlay and Google Cast ensures easy content sharing from any device, making these TVs true entertainment and connectivity 2025 AI-powered television collection represents the perfect fusion of cutting-edge innovation and thoughtful design, crafted for discerning viewers who refuse to compromise on quality. Whether you're a technology enthusiast seeking the latest AI-driven features or someone who values how premium entertainment seamlessly integrates into your lifestyle, these TVs deliver exceptional performance at accessible price points. With LG's commitment to making advanced technology available to more consumers, the 2025 OLED and QNED lineup invites everyone to transform their home into a sophisticated entertainment sanctuary where intelligent features work intuitively, allowing you to focus on what matters most – enjoying extraordinary content with the people you love.
Al Bawaba
3 hours ago
- Business
- Al Bawaba
Sharjah Islamic Bank Strengthens Global Standing with Successful Pricing of USD 500 Million Perpetual Sukuk
In a move that reaffirms its strong appeal in regional and global capital markets, Sharjah Islamic Bank (SIB) has successfully priced USD 500 million perpetual Additional Tier 1 sukuk with a fixed profit rate of 6.125% and a six-year non-call period, making a mark as the tightest set AT1 Issuance in 2025 globally. With a reset spread of 195.6 bps, the issuance also marks a reduction in the Spread achieved in 2019 by 125.7 issuance drew robust and was oversubscribed by more than 2.0x from a wide spectrum of investors across the GCC, Europe, and Asia, reflecting the high level of confidence the Bank enjoys among international financial institutions and investment transaction further demonstrates the Bank's strategic use of capital markets as an effective tool to support its growth trajectory and strengthen its capital Mohamed Abdalla, CEO of Sharjah Islamic Bank, commented: 'This latest sukuk issuance reflects the continued success of our strategy to leverage capital markets in supporting the SIB's financial position and long-term expansion. Since our first sukuk in 2006, we have built a solid track record as a trusted and consistent issuer in the global Islamic finance space. This marks our tenth sukuk issuance, reaffirming SIB's leadership in the international sukuk market.'The transaction attracted exceptional interest, far exceeding expectations, and securing demand from a highly diversified investor Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, added: 'The overwhelming interest from international investors in this issuance underscores growing trust in our performance, strategy, and future vision. The strong pricing outcome is a testament to SIB's position as a robust Islamic banking institution offering innovative, Sharia-compliant financial solutions and maintaining deep engagement with global investors.'This latest issuance builds on the Bank's successful track record in the sukuk space. In February 2025, SIB priced a USD 500 million sukuk at a profit rate of 5.20%, representing a margin of 89.8 basis points over 5-year US Treasury notes. Despite market volatility, that deal attracted over USD 1.7 billion in orders, more than 3.4 times the issuance size, with strong participation from investors across the Middle East, North Africa, Europe, and joint lead managers and bookrunners for the issuance were: Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq Bank, and Standard Chartered Bank. This transaction forms part of a broader capital strategy aimed at strengthening SIB's capital structure, supporting business expansion across key markets while maintaining a commitment to financial governance, resilience, and sustainability.
