UnionPay Under the guidance of The People's Bank of China (PBOC) and the National Bank of Cambodia (NBC), UnionPay has further strengthened the China-Cambodia cross-border QR payment interoperability, achieving positive progress. In the first quarter of 2025, the QR payment value via the UnionPay App and UnionPay's domestic partner wallets in Cambodia surged by over 200% year-on-year, reaching a record high. As an important achievement of the Belt and Road Initiative, the QR payment linkage between China and Cambodia is playing an increasingly significant role in facilitating people-to-people exchanges and strengthening economic and trade relations between the two countries. In November 2023, the PBOC and NBC inked the Memorandum of Understanding on Cooperation in the Area of Financial Innovation and Payment Systems , agreeing to collaborate on payment and settlement among other initiatives. The QR payment connectivity project was implemented by UnionPay and Cambodian partners within the cooperation framework established by the two central banks. In December 2023, UnionPay and the NBC jointly announced the enablement of payment acceptance on Cambodia's KHQR network for 200+ UnionPay partner wallets, including the UnionPay App and Chinese banking apps. Since its launch over a year ago, the service has expanded to more use cases and achieved sustained payment volume growth. The first quarter of 2025 saw the number of transactions grow by over 100% YOY, while the transaction value increased by over 200%. In March 2025, UnionPay and the NBC further announced the enablement of Cambodia's Bakong wallets on UnionPay's global QR acceptance network and on WeChat Pay's QR merchant network in China. This achievement establishes the first fully operational two-way QR payment linkage with Southeast Asia. Since March, Bakong e-wallets have recorded steady volume growth across various spending use cases in China, including food and beverage, department stores, and tourism ticketing, becoming a preferred cross-border payment tool for Cambodian residents. Since entering the Cambodian market in 2008, UnionPay has built a comprehensive payment service system in the country with extensive coverage and diverse product offerings. Nearly all merchant POS terminals and 80% of ATMs nationwide accept UnionPay cards. While continuously improving its acceptance network, UnionPay has enhanced its local business offerings in Cambodia, where mainstream local banks have issued hundreds of thousands of UnionPay cards in total. With the implementation of the QR payment corridor, Cambodian residents can use familiar payment products at home and abroad. Currently, UnionPay has either established or is advancing cross-border QR payment partnerships with payment switches in 19 countries and regions. As a result, over 10 million QR merchants overseas have been enabled for UnionPay QR, creating a cross-border payment ecosystem that services daily consumer needs -- from dining and retail to transportation. Moving forward, UnionPay will continue to collaborate with local stakeholders to optimize payment experience, expand the merchant and user adoption for the two-way service, and deliver greater value to consumers. Source: UnionPay
Positive consolidated net result despite fall in sales to EUR11.7 billion
Higher profitability of 3.6 percent (EBIT margin) thanks to cost and efficiency improvements
Debt reduced and liquidity ensured
Innovation power unbroken: focus remains on core products for electrification, thermal management and sustainable internal combustion engines
CEO Arnd Franz: "We have stayed on course. Our MAHLE 2030+ strategy is gaining traction and allows us to be profitable despite difficult market conditions."
MAHLE expects tougher conditions in 2025 and therefore remains cautious and cost-aware
The automotive supplier MAHLE closed the 2024 financial year with a positive consolidated net result, despite challenging market conditions. Operating profit (EBIT) increased from EUR304 million to EUR423 million, raising the EBIT margin to 3.6 percent. However, sales fell 5.6 percent organically to EUR11.7 billion, largely due to weak markets in Europe and North America and sluggish EV demand outside China. "It is only thanks to hard work that we were able to assert our position in terms of business operations," said Arnd Franz, Chairman of the Group Management Board and CEO, during the company's Annual Press Conference. "Our MAHLE 2030+ strategy is gaining traction and allows us to be profitable despite difficult market conditions." MAHLE has consistently improved its earnings through cost-saving initiatives and portfolio streamlining, focusing on electrification, thermal management, and sustainable internal combustion engines. These efforts enabled the company to reduce its debt by EUR186 million, ensuring liquidity through successful refinancing. Looking ahead, MAHLE remains cautious, expecting a tougher environment in 2025 due to factors including new U.S. import tariffs. Market developments and challenges "Despite the extremely adverse conditions and the fall in sales, we were able to stabilize our position. This is a success and the result of sustained, consistent transformation work," said Markus Kapaun, Member of the Group Management Board and CFO. Most business units were affected by the downturn. Thermal Management sales reached EUR4.1 billion, with an organic decline of 9.9 percent. The Electronics and Mechatronics Business Unit posted EUR1.3 billion, 5.7 percent below the prior-year figure. The Engine Systems and Components Business Unit recorded EUR2.4 billion, down 8 percent. The Aftermarket Business Unit, however, reported growth, with sales rising 6.2 percent to EUR1.3 billion, driven mainly by strong growth in Asia/Pacific. Profitability boosted by portfolio streamlining and efficiency measures Despite lower sales, MAHLE improved its EBIT margin to 3.6 percent. This was achieved through decisive portfolio adjustments, including the sale of its stake in Behr-Hella Thermocontrol (BHTC) and its OEM thermostat business. Additionally, MAHLE implemented a comprehensive package of process and efficiency measures, optimizing sales and administration structures, adjusting its production network, selling unneeded property, and aligning employee numbers with lower sales volumes. Debt reduced, equity ratio improved These efforts helped reduce MAHLE's debt by EUR186 million to EUR1.2 billion in 2024. The debt ratio improved from 1.5 to 1.2. With liquidity secured, the company can continue pursuing its transformation. The equity ratio also rose to 20.1 percent, its first increase in five years. Research and development In 2024, MAHLE invested EUR630 million in research and development, raising its R&D ratio to 5.4 percent of sales. The company filed 427 patent applications and reported 536 new inventions, underlining its commitment to innovation and its strong position as a driver of technological progress. Innovations and orders received A highlight of 2024 was the launch of MAHLE's new bionic high-performance fan, which significantly reduces noise in fuel cell and battery-electric vehicles. Additional breakthroughs included an evaporative cooling system for fuel cell trucks and the integration of a Superior Continuous Torque electric motor into a fully electrified drive axle for heavy trucks. MAHLE secured new orders worth EUR10.3 billion, including a record EUR1.2 billion order for a thermal management module and further major orders for battery cooling systems and electric compressors. MAHLE remains firmly on course with its MAHLE 2030+ strategy, with China identified as a key growth market. The company already partners with international and Chinese OEMs and sees further opportunities, especially in the New Energy Vehicles (NEV) segment. New group structure and new business fields MAHLE launched a new group organization at the end of 2024, merging business units to strengthen electrification and thermal management while streamlining its Management Board. The new structure aims to improve internal cooperation and speed up decision-making. MAHLE also sees growth potential beyond the automotive sector. Its Lifecycle and Mobility Business Unit is set to become a pillar of growth, driven by expertise in thermal management, electric motors, and innovative solutions for mobility and the vehicle life cycle. Sustainability strategy achieves successes MAHLE earned a place on the Carbon Disclosure Project's prestigious "A list" for the first time, recognizing its success in cutting carbon emissions across production, supply chains, and product lifecycles. With a 47 percent reduction in Scope 1 and 2 CO2 emissions already achieved, the company is well on track to meet its 2030 target of 49 percent. (Geo-) political and economic conditions must be right Looking ahead to 2025, MAHLE CEO Arnd Franz warned of tougher conditions, especially after the U.S. imposed new import tariffs on automotive goods. "As a globally active company committed to free and fair trade, we cannot understand this trade policy," Franz said, noting the impact on supply chains and consumer prices. Franz also welcomed the EU Commission's plan to review CO2 regulations and stressed the need for technological diversity. "Two-thirds of our jobs in Europe and Germany depend on the internal combustion engine, which supports five times more jobs than e-mobility," he explained, urging policymakers to consider climate, employment, and social policies when shaping the industry's future. He concluded that MAHLE's ability to create new jobs would depend on improved economic and political conditions, underlining the crucial role of clear and supportive policymaking. Key figures compared with the previous year
2023
2024
Sales (EUR million)
12,818
11,681
EBIT (EUR million)
304
423
EBIT margin (percent)
2.4
3.6
Consolidated net profit (EUR million)
26
22
Equity (EUR million)
1,611
1,548
Headcount1 (number of people)
72,373
67,708
1 as at December 31 About MAHLE MAHLE is a leading international development partner and supplier to the automotive industry with customers in both passenger car and commercial vehicle sectors. Founded in 1920, the technology group is working on the climate-neutral mobility of tomorrow, with a focus on the strategic areas of electrification and thermal management as well as further technologies to reduce carbon emissions, such as fuel cells or highly efficient, clean combustion engines that also run on renewable fuels, such as hydrogen. Today, one in every two vehicles globally is equipped with MAHLE components. MAHLE generated sales of EUR11.7 billion in 2024. Employing just under 68,000 people at 135 production locations and 11 technology centers, the company is represented in 28 countries. (as at: 12/31/2024)
Thailand's globally renowned festivals, Songkran and Loy Krathong, possess immense cultural and tourism potential—yet remain underleveraged in driving international travel. Despite high levels of global awareness, participation remains low due to concerns over safety, festival management, and infrastructure. A recent study by Sasin Management Consulting (SMC) reveals that only a fraction of international tourists visits Thailand specifically for these celebrations. To transform Songkran and Loy Krathong into world-class attractions, Thailand must enhance safety, improve infrastructure, and integrate deeper cultural storytelling with engaging experiences—positioning its festivals not just as spectacles, but as meaningful, must-see global events. Thailand's world-renowned cultural festivals—Songkran and Loy Krathong—are celebrated for their unique charm, spiritual depth, and vibrant traditions. Whether it's the exhilarating water fights of Songkran or the serene beauty of floating krathongs under the moonlight, these iconic events captivate global attention. Yet, despite their popularity, these festivals remain an underutilized asset in driving international tourism.
High Awareness, Low Participation According to recent research conducted by Sasin Management Consulting (SMC), there's a significant gap between awareness and actual visitation. The survey of 2,200 potential international tourists showed that while 75% were aware of Songkran, only 20% had traveled to Thailand to experience it firsthand. A similar trend appeared for Loy Krathong, with over 50% aware of the festival, yet only 16% had visited during the celebration.
Tourism data from 2018, 2019, and 2024 (excluding pandemic-impacted years) further supports this trend, showing no significant spike in arrivals during the festival months of April (Songkran) or November (Loy Krathong). Among tourists who did visit during these times, only one-third came specifically for the festivals; the majority were motivated by general interest in Thailand as a destination.
What's Holding Tourists Back? The study highlights several key deterrents affecting international participation in Thai cultural events.
Safety and Security: Cited by 24% of respondents as a concern, particularly regarding large public gatherings.
Lack of Festival Awareness: Nearly a quarter of respondents simply didn't know enough about the festivals to prioritize them.
Poor Festival Management: Tourists expressed dissatisfaction with the organization, crowd control, and accessibility of festival events.
Inadequate Infrastructure: 13% pointed to subpar facilities not meeting international expectations.
These issues create a disconnect between what tourists' value—safety, convenience, cultural authenticity—and what Thai festivals currently offer.
Bridging the Gap: Culture & Entertainment Thailand's cultural festivals are undeniably entertaining, but their deeper meaning and traditions often remain underrepresented in the global tourism narrative. While Songkran's joyful water fights are widely recognized, its Buddhist origins and cultural symbolism are rarely emphasized abroad. Yet the appetite for cultural experiences is strong. In fact, 70% of respondents praised Thailand's rich cultural value. This suggests an opportunity to reposition Thai festivals by integrating both entertainment and cultural depth, making them more meaningful for a broader spectrum of tourists. Turning Festivals into World-Class Attractions To fully capitalize on the tourism potential of Songkran and Loy Krathong, Thailand must:
Improve Festival Infrastructure- Ensure facilities, transportation, and public amenities meet global standards.
Enhance Safety and Security - Increase visible safety measures and provide clear guidelines for tourists.
Strengthen Festival Management - Develop more organized, accessible, and tourist-friendly festival experiences.
Promote Cultural Storytelling - Highlight the historical and spiritual roots of each festival through international campaigns.
Blend Culture with Experience - Create immersive cultural programs that enrich the entertainment value of the festivals.
The Road Ahead Songkran and Loy Krathong have the potential to be more than just beautiful cultural snapshots—they can become flagship events that draw millions of visitors, similar to Brazil's Carnival or Japan's Cherry Blossom season. By addressing current gaps and reimagining the festival experience, Thailand can transform its beloved traditions into world-class tourism magnets.
"Chulalongkorn University sets the standard as a university of
innovations for society and is listed in the World's Top 100 Universities for Academic Reputation, in the Quacquarelli Symonds (QS) World University Rankings 2021-2022."
Decorated general brings extensive leadership and policy development expertise to board role
Duck Creek Technologies , the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has announced the appointment of General Daniel Hokanson, USA, Ret. to the company's board of directors. He brings deep expertise and experience in leading organizations through the development and implementation of detailed strategic policy to Duck Creek's board. Hokanson is a retired 4-Star General who served as a member of the Joint Chiefs of Staff and the 29 th Chief of the National Guard Bureau. In this role, he was a military advisor to the President, Secretary of Defense, and National Security Council. He also served as the Department of Defense's channel of communications to the Governors and State Adjutants General. "Dan is an accomplished and decorated leader, and we are excited to have him join the Duck Creek Board of Directors," said Michael Jackowski, Chief Executive Officer, Duck Creek Technologies. "As we continue to expand globally and help insurance companies tackle tough challenges resulting from climate change and increasingly complex regulatory environments, his unique skill set will be instrumental in guiding Duck Creek." As Chief of the National Guard Bureau, Hokanson oversaw the Guard's historic response to the COVID-19 pandemic, civil disturbances, and numerous natural disasters, while simultaneously meeting every global military operations requirement. He also led the National Guard and Department of Defense's State Partnership Program, which includes over 100 member countries, regularly conducting senior government and military leader engagements worldwide. A graduate of the United States Military Academy at West Point with a degree in aerospace engineering, Hokanson also earned master's degrees in international security and civil-military relations from the Naval Postgraduate School in Monterey, California, and national security and strategic studies from the Naval War College in Newport, Rhode Island. He also completed the Department of Defense year-long National Security Fellowship at Harvard University. "I am honored to join Duck Creek Technologies' board of directors. The company's dedication to innovation and excellence in the insurance industry strongly aligns with my values and experience," said Hokanson. "I look forward to supporting Duck Creek's mission to shape the future of property and casualty insurance while helping the industry navigate its evolving challenges." Hokanson's role was sourced through the external board program operated by Vista Equity Partners , a global technology investor that specializes in enterprise software and a majority investor in Duck Creek . Launched in 2017, the board program leverages Vista's ecosystem and additional resources to identify, train, and appoint qualified board candidates for its portfolio companies. The program works to create a pipeline of highly talented board candidates through programs and partnerships that will drive results for the corporate world at large.
About Duck Creek Technologies Duck Creek Technologies is the global intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite , and all are available via Duck Creek OnDemand . Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information - LinkedIn and X .
The Publicity Department of Baise City Recently, at the 2025 Calendar Photography Contest hosted by the United Nations World Meteorological Organization (WMO), a photograph titled Electric Roasted Sea Bass, taken in Baise City, Guangxi Zhuang Autonomous Region, stood out among tens of thousands of global entries and was selected for inclusion in the WMO 2025 Meteorological Calendar. This marks the only Chinese photography work chosen this year. The photo Electric Roasted Sea Bass was captured by photography enthusiast Liang Ke. In this awe-inspiring image, multiple lightning bolts pierce through the clouds, illuminating the night sky. Below, the Youjiang River reflects a dazzling array of neon lights, creating a radiant scene. The photo has been widely shared on WMO's official platforms and global social media such as Facebook, Instagram, Flickr, and LinkedIn. This "vibrant and luminous" nighttime view of Baise has attracted significant attention from domestic and international netizens. The publicity department of Baise city introduces that in recent years, Baise has vigorously advanced the modernization of harmonious coexistence between humans and nature. In 2024, Baise was approved as Guangxi's sole national pilot for deepening climate-resilient city construction and was also included in the second batch of national pilot projects for new pollutant management. For multiple consecutive years, 14 national and 11 regional surface water monitoring sections in the city have maintained a 100% water quality compliance rate, ranking Baise 9th nationally in surface water quality. In 2024, the city's air quality excellent rate reached 98.4%. With the continuous improvement of Baise's ecological environment, rare animals such as leopard cats and Hainan partridges have been frequently spotted in the Chengbi River Nature Reserve. The Chinese merganser, known as the "panda of birds", has overwintered there for over a decade. Recently, the Oriental white stork, a nationally protected first-class wildlife species, was observed for the first time in Sihuang Town, Youjiang District. Last year, Baise also shared its achievements from the Guangxi Bangliang Gibbon National Nature Reserve and Guangxi Yachang Orchid National Nature Reserve with China's Ministry of Ecology and Environment. Dr. Wan Rong, an associate researcher at China Agricultural University, noted that Baise possesses unique ecological advantages. Moving forward, the city could focus on industries like health foods and medicinal-edible resources to build a full-chain consumer ecosystem spanning "ecological resources - deep processing - brand marketing", leveraging its "green potential" to drive "economic prosperity". Source: The Publicity Department of Baise City
Organizing Committee of the 2025 Fujian Provincial Conference on the Development of Cultural and Tourism Economy With the theme of "Cultivating Cultural Tourism as the Pillar Industry", the 2025 Fujian Provincial Conference on the Development of Cultural and Tourism Economy will be held in Nanping City, Fujian Province, from April 17th to 19th. Shortly before the conference opens, under the guidance of the Fujian Provincial Department of Culture and Tourism, six major 5A-level scenic areas -- Mt. Wuyi Scenic Area, Kulangsu Tourist Area, Fujian Tulou (Yongding) Scenic Area, Fujian Tulou (Nanjing) Scenic Area, Taining Scenic Tourist Area, and Quanzhou Mt. Qingyuan Scenic Area -- jointly initiated the establishment of the Fujian's World Heritage 5A Scenic Area Alliance. This initiative lays a solid foundation for Fujian to integrate its world heritage resources, further promoting the province's goal of becoming a world-renowned tourist destination. It also marks a significant step forward in the province's pursuit of coordinated and high-quality cultural tourism development. Mt. Wuyi, as the only World Cultural and Natural Heritage Site and National Park in Fujian Province, is also the distinguished symbol of Nanping, the host of this conference. In recent years, Nanping City has leveraged the strategic value of Mt. Wuyi National Park to enhance its "Greater Wuyi Cultural and Tourism Circle" brand and promote the development of the "Mt. Wuyi Protection and Development Belt". The city has pioneered the construction of China's first national park scenic road system and developed a range of themed tourism products, including biodiversity education tours and Danxia landscape photography experiences. These efforts have contributed to the creation of a "Nanping Model" that harmonizes ecological preservation with cultural and tourism development. In addition, utilizing the resources of Mt. Wuyi National Park, Fujian Province has actively engaged in international cooperation in areas such as cultural tourism, environmental conservation, and biodiversity research with countries along the Belt and Road Initiative, harvesting significant outcomes. World Heritage Sites are treasures shared by all humanity. Fujian continues to make exemplary use of these resources to create a "go phenomenal" effect for its cultural tourism, and generate higher appeal to an international audience. From Quanzhou, the "World Heritage City" known for its Maritime Silk Road heritage, to Kulangsu, the "Island of Music" decorated with diverse global architecture; from the Fujian Tulou, which embodies the wisdom and ingenuity of the local people, to the spectacular natural landscapes of Taining Danxia and the dual heritage status of Mt. Wuyi. Source: Organizing Committee of the 2025 Fujian Provincial Conference on the Development of Cultural and Tourism Economy
TOBU TOWER SKYTREE Co., Ltd., the operator of TOKYO SKYTREE, is holding "DETECTIVE CONAN x TOKYO SKYTREE The Dazzling SKYTREE," the first collaborative event between the tower and the TV anime series "Detective Conan." The event begins on Tuesday, April 15, and will last until Monday, July 14, 2025. Key visual of "DETECTIVE CONAN x TOKYO SKYTREE The Dazzling SKYTREE": https://cdn.kyodonewsprwire.jp/prwfile/release/M108036/202504087063/_prw_PI1fl_7Uf7eeXc.jpg Special website of "DETECTIVE CONAN x TOKYO SKYTREE The Dazzling SKYTREE" https://www.tokyo-skytree.jp/en/event/special/conan/ The 450-meter-high Tembo Galleria has an exhibition featuring the event's key visuals. Limited-edition goods that are only available at the event and special cafe menu items are offered on this floor. In addition, a photo shoot service is available to those who want a picture of themselves with their favorite "Detective Conan" characters of their choice. On the 350-meter-high Tembo Deck, exclusive videos are screened on the windows converted into a giant screen of SKYTREE ROUND THEATER every night of the event. Also taking place during the evening, the exterior of the tower will have a special "Detective Conan"-themed lighting inspired by various characters from the anime. Moreover, TOKYO SKYTREE's official character Sorakara-chan, dressed in the costume of Detective Conan, has four meet-and-greet sessions per day with visitors to pose for snapshots taken with them. Special admission tickets to these observation decks with a novelty card featuring "Detective Conan" are also available. TOBU TOWER SKYTREE hopes that those who come to Japan will visit and enjoy TOKYO SKYTREE on the occasion of the event. About TOKYO SKYTREE The 634-meter-high TOKYO SKYTREE is the world's tallest free-standing broadcasting tower. It has two observation decks, the Tembo Deck, 350 meters high, and the Tembo Galleria, 450 meters high, commanding a spectacular panoramic view of Tokyo. At night, TOKYO SKYTREE is colorfully lit up in three lighting styles -- "Iki," characterized by a pale blue, "Miyabi," featuring Edo purple, and the "Nobori" auspicious tangerine hue. Special lighting can be seen during seasonal and other events. Official website: https://www.tokyo-skytree.jp/en/ For more details, please check each social media account: Official Instagram: https://www.instagram.com/tokyoskytree_global/ Official X: https://twitter.com/skytreeofficial Official Facebook: https://www.facebook.com/TOKYOSKYTREE.official/ Source: TOBU TOWER SKYTREE Co., Ltd.
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