Tourism ‘worth billions’ to Oceania

PERTH: A new report by the World Travel and Tourism Council (WTTC) says Oceania’s travel and tourism sector could inject an additional $US112 billion ($A166 billion) into the region’s economy by 2034.

According to the report, released at the WTTC’s Global Summit, this boost could also support an extra 1.1 million jobs, raising the total employment in the region supported by travel and tourism to 3.5 million over the next decade.

The report, Unlocking Opportunities for Travel and Tourism Growth in Oceania, outlined the transformative potential of the region’s sector if strategic investments are made.

It said Oceania could become a global leader in sustainable travel, while significantly boosting its economy. However, this would require targeted action in a number of key areas.

The WTTC called for greater investment in sustainable infrastructure to mitigate and adapt to the impacts of climate change; the enhancement of air travel connectivity; a streamlining of visa processes, and the promotion of eco-friendly tourism practices that protected Indigenous communities.

WTTC President, Julia Simpson said Oceania had an unparalleled opportunity to grow its travel and tourism sector in a way that not only drove economic growth but set the standard for sustainability.

“By investing in climate-resilient infrastructure and supporting Indigenous communities, the region could become a global leader in eco-conscious, inclusive tourism,” Ms Simpson (pictured) said.

“By the end of this year, travel and tourism in Oceania is forecast to grow by 16.5 per cent above pre-pandemic levels to reach $US224 billion ($A332 billion), and employment supported by the sector is expected to exceed pre-pandemic figures by 4.8 per cent, employing 2.3 million people.”

However, she noted that international visitor spending was projected to remain four per cent below 2019 levels, with a full recovery not expected until 2025.

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Cloudera expansion boosts business AI

NEW YORK: Cloudera, a hybrid platform for data, analytics, and artificial intelligence, has expanded its enterprise AI ecosystem with EVOLVE24 New York.

The initiative brings together a diverse group of industry-leading AI providers to deliver comprehensive, end-to-end AI solutions for customers, helping to maximise the value of AI.

Chief Strategy Officer at Cloudera, Abhas Ricky said the new partners included Anthropic, Google Cloud, and Snowflake.

“This ecosystem of technology providers makes it easier, more economical, and safer for enterprises to maximise the value of AI initiatives,” Mr Ricky said.

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Vantage platform now available to all

TORONTO: Vantage has announced that its retail media platform, previously available in limited release, will now be available to all retailers looking to enhance their businesses in this sector.

The Vantage platform allows retail partners to unlock high-margin revenue opportunities and drive growth in today’s fast-evolving media landscape.

Chief Executive, Aran Hamilton said retail media was not just the latest fad in the industry; rather it was an opportunity to transform the relationship between retailers and their vendor partners.

“Vantage helps retailers launch and scale retail media networks to their full potential. This isn’t just a technology play. Vantage’s orchestration layer integrates the teams and the technologies that are often disjointed and fragmented,” Mr Hamilton said.

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V-Gallant increases range of AI solutions

KUALA LUMPUR: VCI Global Limited, through its subsidiary, V-Gallant, is now offering end-to-end AI computing solutions to enterprises by integrating next-generation AI servers with updated software and automated machine-learning platforms.

Group Executive Chair of VCI Global, Victor Hoo said V-Gallant was collaborating with leading server manufacturers and solution providers to empower organisations to fully leverage the latest advancements in generative AI.

“Ultimately, these collaborations enable enterprises to enhance their capabilities, transforming innovative ideas into fully-functional systems that allow businesses to tackle even the most demanding AI workloads across various use cases,” Mr Hoo said.

“Recent data suggests a significant surge in AI adoption among enterprises, and now is the opportune moment for V-Gallant to capitalise on this AI boom.”

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ATFX sparks fintech move into Asia

LONDON: Fintech broker ATFX has made a strategic investment in Spark Systems, a next generation, institutional-grade e-FX trading platform based in Singapore and serving clients in Asia and globally.

Group Chair of ATFX, Joe Li said the investment built on the Group’s commitment to enhance its trading infrastructure.

“This and other initiatives have positioned ATFX as a leading player in the industry, providing clients with cutting-edge trading solutions and improved market access,” Mr Li said.

“Investing in Spark Systems aligns with our strategic vision to enhance our institutional offerings and drive innovation in the e-FX space.”

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Philippines solar project moves ahead

MANILA: Nexif Ratch Energy, a leading independent power producer focused on renewable energy solutions, has secured finance for its 145MWp Bacolod Solar Power Project, its second in the Philippines.

The Bacolod Solar Power Project, developed by Negros PH Solar Inc., will serve Bacolod City and Bago City in the Negros Occidental Province.

It will be a ground-mounted solar photovoltaic facility that can potentially power to up to 52,600 households.

Construction will begin this month with the goal of achieving commercial operations by the fourth quarter of 2025.

An occasional round-up of international business stories

 

 

 

Lebanon — a paradise lost

Lebanon is a country ruined beyond repair. Its capital, Beirut, was once known as the Paris of the Middle East, and locals boasted it was the only place in the world where it was possible to snow-ski in the morning and water-ski in the afternoon.

That was in what is now nostalgically called Lebanon’s Golden Age (pictured), in the years following World War II after the end of French colonialism until 1975 and the beginning of a devastating civil war.

It was a time rich culture, food, fashion and art, graceful hotels, lively clubs and glamorous beachfronts.

Tourists came to goggle at the numerous celebrities, some just soaking up the atmosphere, others there to appear in a series of James Bond-style movies that used the cosmopolitan setting as a backdrop, where traditional markets lived side-by-side with fashionable boutiques.

All that ended in 1975 when the influx of Palestine refugees following the following the wars of 1968 and 1972 upset the ethnic balance and the Maronite Christian majority began to feel overwhelmed.

The civil war between Christian militias and various Muslim factions dragged on for 15 years and in the decades since little has been done to try and repair the deep-seated hatreds which have built up on both sides.

Today Lebanon is a sovereign nation in name only, at the mercy of the Hezbollah political group and its powerful armed militia, backed by Iran and dedicated to the destruction of Israel.

What is left of the Government in Beirut is powerless to restrain Hezbollah; civilians throughout the country can only watch and pray as Israeli missiles and armed drones rain down upon them.

This is not a war most Lebanese wanted, yet they have no way to stop it. Soon they will be joining the ever-increasing flood of refugees, peoples on the move, pushing at the borders of Europe.

That will no doubt delight the new Russian Czar in the Kremlin who has stirred the Middle East pot several times in recent years to his obvious advantage.         

 

 

Honcho’s AI boost for small business

SYDNEY: Business service provider, Honcho has developed new artificial intelligence (AI) tools aimed at simplifying the creation and launch of business websites.

This new suite of enhanced tools will make website building more accessible to start-up and small business owners who lack technical, creative, or marketing skills.

Chief Executive, Matt Abrahams said Honcho’s goal was to remove the barriers many small business owners faced when trying to establish an online presence, namely a lack of creative and technical skills.

“With Honcho, users can easily create and launch a professional website in minutes without any prior experience,” Mr Abrahams (pictured) said.

“AI streamlines the website-creation process. Users can input minimal information, often just a business name and industry, and the AI will automatically generate a customised website complete with text, images, and optimised design elements.”

He said most small business owners just wanted a fully-functioning website up and running quickly.

“Using our platform, business owners can begin marketing their business, and in turn, start adding to their bottom line, much faster,” Mr Abrahams said.

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Dark Horse rides to new levels

BOSTON: Dark Horse Consulting (DHC), which specialises in the field of cell and gene therapy (CGT), has acquired BioTechLogic Inc., a forerunner in technical operations, manufacturing, quality, and regulatory consulting.

DHC Chief Executive, Anthony Davies said the strategic acquisition marked a significant milestone in DHC’s growth, combining the complementary strengths of both teams.

“DHC, with operations in North America, Europe, and the Asia Pacific, is recognised for its depth of CGT expertise worldwide, while BioTechLogic has earned its stellar reputation by offering specialised consulting in process development and manufacturing, technical operations and quality systems,” Mr Davies said.

“This acquisition allows us to extend our client base into the domains of traditional biologics and vaccine development, while further optimising efficiencies of cost, timeline, and resources for our CGT customers.”

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BTCC calls for crypto ambassadors

VILNIUS: Crypto-currency trader, BTCC Exchange has launched its Ambassador Program, an initiative that invites crypto enthusiasts and influencers worldwide to become advocates for BTCC, helping to drive its mission and expand its reach.

In a statement, the Lithuanian-based company said the Ambassador Program consisted of four categories:

BTCC Citizens would simply promote BTCC’s online presence through likes and comments.

BTCC Creators would promote the company with original comment such as guides, reviews, and tutorials across social media.

BTCC Champions would showcase trading strategies and highlight BTCC Exchange’s key features on social media.

Finally, BTCC Connectors would organise local offline events and represent BTCC within regions.

Interested individuals can apply to multiple categories that fit their skills and experience. Ambassadors will enjoy tailored incentives, including branded merchandise, tickets to global crypto events and, in some cases, financial rewards.

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International scientist joins EnGeneIC board

NEW YORK: Biopharmaceutical company, EnGeneIC has appointed Daniel Von Hoff to its Scientific-Clinical Advisory Board to advise on EnGeneIC’s trial in metastatic pancreatic cancer.

Professor Von Hoff is an internationally recognised physician and scientist, currently Distinguished Professor at the Translational Genomics Research Institute (TGEN) in Phoenix, Arizona.

EnGeneIC Chief Executive, Jennifer MacDiarmid said Professor Von Hoff’s extensive knowledge and experience in pancreatic cancer, along with his clinical trial experience, would be valuable in advising on the development of the company’s oncology clinical programs.

“A pioneer and world leader in translational medicine, Professor Von Hoff’s major interest is in the development of new anticancer agents. He has been involved in more than 300 clinical studies,” Dr MacDiarmid said.

“His research at TGEN has focused on the development of therapies for patients with advanced pancreatic cancer.”

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Institutional investment expert joins Intech

WEST PALM BEACH: Quantitative Equity Manager, Intech has appointed Rosalind (Roz) M. Hewsenian to its Board of Directors.

Chair of Intech’s Board of Directors, Churchill Franklin said Ms Hewsenian, who recently retired as Chief Investment Officer of the Leona M. and Harry B. Helmsley Charitable Trust, brought more than 40 years of institutional investment experience to Intech during a pivotal moment in the firm’s next phase of growth.

“Roz brings a unique combination of institutional experience and strategic insight to the board,” Mr Franklin said.

“As we transition into our next phase of growth, her hands-on experience in both investing and governance will be instrumental in shaping Intech’s future.”

An occasional round-up of international business stories