CelcomDigi, U Mobile and ZTE deploy 360° cameras with remote virtual reality broadcast at SUKMA 2024

  • 360° devices in sports arenas offer Multimedia sets for enhanced gaming experiences.
  • By expanding the range of electronic fact, 5G-Advanced enhances the XR knowledge.

(left to right): Idham Nawawi, CEO, CelcomDigi; Fahmi Fadzil, Minister of Communications; Steven Ge, CEO, ZTE Malaysia; Wong Heang Tuck, CEO, U Mobile

From Petra Jaya to Putrajaya. While SUKMA 2024 kicked off in Sarawak on Aug 17 and will end today Aug 24, Minister of Communications, Fahmi Fadzil had the opportunity to immerse himself in the atmosphere of Stadium Sarawak, from the comfort of his office in Putrajaya on 20th Aug, via a Virtual Reality (VR ) headset, powered by 5G-Advanced (5G-A ).

This was made possible as a result of a partnership between CelcomDigi and U Mobile, in order to show the viability of 5G-A in enabling modern innovations. &nbsp, &nbsp,

The sports arena has a number of 360° cameras installed to enable VR headset users to experience Extended Reality (XR ). Viewers can experience a 360-degree interactive view of the stadium’s live wearing action in real-time. By extending the range of virtual reality, immersive virtual reality applications, and fog gaming experiences, the 5G-A enhances the XR encounter. It offers consumers a better Er have while on the move, enabling a high-data-rate knowledge.

The couple’s strategic partnership likewise employed 5G-A systems to transmit the world’s first-ever 5G-A live transmit from the Opening Ceremony of SUKMA 2024 to viewers across the country via Radio Televisyen Malaysia (RTM).

For broadcasters like RTM, this is the first day they can get the best video, all of which can be done wirelessly, giving them more flexibility and the ability to provide real-time protection. The Malaysia Book of Records also praised the business relationship for achieving the fastest cellular frequencies at 30.8Gbps with 5G-A during a life test conducted in Kuching, Sarawak. &nbsp,

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Thaksin”s vision to reshape Thailand

Past Thai Prime Minister Thaksin Shinawatra has returned after 17 years of being away from Thailand with ideas to create and handle the country’s issues.

His main goals for Thailand’s transformation were laid out at the Nation Group” Vision for Thailand” function:

    Restructuring and hair of family loan: To put these steps into effect, the finance minister must work with the Thai Bankers ‘ Association and the Bank of Thailand.

  1. Legalising the underwater economy: Thailand has a large underwater economy, now estimated to be about 50 % of the established economy. If this can be brought above ground, the GDP may increase by 50 %, especially by legalising online gaming, where Thais now lose 170 billion ringgit annually.
  2. Professional restructuring: By reducing electricity costs and promoting clean energy, Thailand had become a safe haven for industries exporting to different regions like United States, China, Europe, and others, as Thailand faces no considerable political issues.
  3. Entertainment compounds: This could include games that make up no more than 10 % of the area and require hundreds of billions of dollars in capital expenditures.
  4. Land profits to foreigners: Thais would be able to buy property to foreigners, but the title deed may get transferred to the Treasury Department, which would then rent the property to the foreign purchaser for 99 years.
  5. 20 Baht electric train survive: This could be achieved by the government reviving secret electric train tasks, lowering ticket costs, and introducing congestion fees for users of passenger cars to help pay for public transport.
  6. Agricultural transformation: Leveraging R&amp, D to increase value to agricultural goods, such as producing high-fiber, low-carbohydrate corn.
  7. Land Reclamation: Reclaiming property in areas like Bang Khun Thian and Pak Nam to produce new green places, tourist sights, and disaster protection for Bangkok.
  8. Negotiating maritime overlapping areas: Expelling negotiations with Cambodia to use fossil fuels in the sea together before the world transitions away from fossil fuels.
  9. Financial hub: Establishing operations in Thailand as a financial hub to draw in foreign banks.
  10. Tax restructuring: Implementing negative income tax to refund money to low-income earners, while also considering reductions in corporate and personal income taxes.
  11. Enhancing tourism potential: Expanding airports, developing man-made tourist attractions, and amending laws to facilitate private jet travel.
  12. Bureaucratic reform: Reducing the number of civil servants, curbing ballooning budgets, and increasingly using technology to replace manual processes.
  13. Promoting Soft Power in All Forms: Develop an ecosystem to support and enhance Muay Thai, Thai cuisine, fashion, and other cultural assets.
  14. Adopting protectionism: To ensure fair competition in the market, especially against low-quality, cheap imports, and to develop Thai SMEs into smart SMEs producing unique products, as they cannot compete with China’s economy of scale.

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Commentary: A 7-Eleven buyout would stretch Japan’s appetite for M&A

A CRUCIAL LIFELINE

However, accepting a acquisition of Seven &amp, document, a deal which had dwarf earlier foreign takeovers of Chinese firms, feels like a extend. This is no private maker of parts, but a pretty close-to-hand and favorite product that exists in every district in the country and is inhabited daily&nbsp, by some 20 million people, or&nbsp, a fifth of the population.

7-Eleven has also been the greatest pioneer in the convenience store space: It pioneered the sale of onigiri rice balls in the 1970s and built out a great range&nbsp, of inexpensive, clean and amazingly nutritious food with its just-in-time inventory management. The monopoly of banks that ended at 3 p.m. and on weekends was broken by allowing customers to withdraw money at any time.

From the introduction of affordable, fresh coffee to its recent plans to compete with Domino’s Pizza in meal delivery, Seven continues to make its stores more essential. &nbsp, In times of disaster, the conbini is now seen by locals and authorities alike as a crucial lifeline. &nbsp,

But none of this impresses investors. Since its initial tussle with activist shareholders when Third Point founder Dan Loeb took a stake in the business in 2015, the company has undergone a number of changes. It has reduced its supermarket footprint, sold the Sogo-Seibu department store chain, and instituted share buybacks, as well as appointed Ryuichi Isaka, the current CEO and Loeb favorite.

But even so, the stock still&nbsp, trades&nbsp, around &nbsp, the same level as before Loeb announced his stake. Dissatisfaction with the recent market performance&nbsp, led to ValueAct Capital Management’s attempting to oust Isaka. &nbsp, &nbsp,

The most recent move by management has been an aggressive expansion of its US convenience store business, where it believes it can make money with the roll-out of Japanese-style food options. With the takeover bid, the concern will be the opposite in its home country- whose conbini still make up more than 40 per cent of Seven &amp, i’s operating profit- that&nbsp, a Couche-Tard purchase will instead bring a subpar&nbsp, experience. &nbsp,

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Bangladesh to raise rates and seek assistance, says bank chief

The new central bank chief has told the BBC in an exclusive interview that Bangladesh will make a decision to increase interest rates from 8.5 % to 9 % in a day or two.

Dr. Ahsan H. Mansur promised to increase prices even further to 10 % or more in the upcoming times to tame inflation.

Bangladesh’s currency is under pressure due to remittances drying up, and social unrest has had a big impact on its exports. Soaring prices have also been a major concern.

Bangladesh was instructed by the International Monetary Fund ( IMF) to tighten its monetary policy and maintain a flexible exchange rate during the course of a$ 4.7 billion ( £3.6 billion ) bailout for the South Asian nation.

Dr. Mansur claimed to be talking about “augmenting” and “front loading” this sum by an additional$ 3 billion.

He stated that Bangladesh was also looking for an additional$ 1.5 billion from the World Bank and$ 1.3 billion from the Asian Development Bank and the Japan International Cooperation Agency.

Charges have also been impacted by the internet blackouts and restrictions that came before the expelling of Prime Minister Sheikh Hasina’s plan earlier this month.

Dr. Mansur, a former economist who worked for the IMF for three decades, was appointed chancellor of Bangladesh Bank by the time administration, led by Nobel laureate Muhammad Yunus, last week.

As part of a series of governmental departures following the recent downfall of the previous state, former government Abdur Rouf Talukder and two other assistant rulers resigned.

When Dr. Mansur addressed the BBC at the main company’s office in Dhaka’s business soul, he made the point that cleaning up the nation’s banking industry was his best concern.

According to him, there has been a “designed assault of the economic technique,” which has seriously impacted businesses and the property market and the economy as a whole.

Following failures by groups allegedly linked to the ousted Awami League state, Bangladesh’s lenders have seen a drop in payments and an alarming increase in non-performing property.

The non-performing property were” only robbery of the lenders. They took the money and put it in Singapore, Dubai, London and abroad. Therefore, Dr. Mansur said the first step would be to attempt to punish those who violate the law and recover the money.

” While doing this in parallel, we will have to recreate the finance program. So we are trying to establish a Banking Commission”.

The work of this percentage will be to do a thorough assessment of the banks and suggest remedies such as change of plank, modify of management, injection of capital, or in the case of some smaller banks, mergers.

Dr. Mansur anticipates that some of Bangladesh’s Islamic banks will need between$ 30 and$ 30 billion to recapitalize them, which could in turn result in their nationalization.

” We do not want it.. but]a ] lot of loans have been incurred by these people, and they are not going to pay it back… We have to at least cover the depositors ‘ money”, he added.

The governor anticipates a sharp reduction in spending despite the ongoing economic unrest along with reforms in monetary policy from Bangladesh’s new government.

Prime Minister Sheikh Hasina’s government had cut spending and lowered the country’s fiscal deficit target to 4.6 %- the lowest since 2015, according to Bloomberg.

However, there will need to be a further 9 to 10 % reduction in budgetary spending, according to Dr. Mansur,” so that more credit is made available for the private sector.”

Late last week, Muhammad Yunus, the Chief Adviser to Bangladesh’s interim government, is reported to have told a gathering of diplomats that his government will undertake” comprehensive reforms” before holding the next general election.

When questioned how long until the election could be called, Dr. Mansur said it might take another three years or more.

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Thai central bank holds its key rate at 2.50%

Bangkok: Following a court’s dismissal of the prime minister, the central bank of Thailand’s central bank left its key interest rate unchanged for a fifth straight meeting on Wednesday ( Aug 21 ), as was widely anticipated. The Bank of Thailand’s ( BOT ) monetary policy committee voted 6-1 toContinue Reading

Everest’s Sherpas fear their homeland is at risk of washing away

Laxman Adhikari Aerial view of a flood-affected village in a Himalayan valleyLaxman Adhikari

Sitting at an altitude of around 3, 800m ( 12, 467ft ) is Thame, a small Sherpa village in Nepal’s Everest region.

It is home to some record-holding Sherpa climbers, including Sherpa Tenzing Norgay, the first man to climb Mount Everest along with adventurer Edmund Hillary.

However, after a glacial lakes burst its banks on August 16, the town was engulfed by snowy flood waters, displacing around 60 people and destroying more than a few residences and hotels, as well as a university and medical facility.

Around 300 of the village’s residents are now asking themselves whether it is also safe to live there any more as a result of the event.

” We are also shocked,” the statement says.

No injuries or fatalities were reported, but Sherpa residents said they were fortunate that the flood occurred during the daytime, when everyone was alive and the alerts arrived immediately.

” If this had happened at night time, between 200 to 300 people would have lost their lives”, Ang Tshering Sherpa, past president of Nepal Mountaineering Association said.

” We are still in shock, and we are still crying when we (villagers ) talk to each other”, said Yangji Doma Sherpa, a native of Thame who was born in the village.

The bigger issue is whether this area is currently safe to live in. People do n’t feel safe because this flood has shown that we are currently in an even more dangerous situation.

Another rural residents have experienced similar hardship.

” Some components of our town were wiped away by the storm, but we managed to run up the hill,” said Pasang Sherpa at Tok Tok town, which is a walk downhill from Thame in about two days.

” Brochures and debris were swept down by the then watery and bubbly river, turning it into a dark brown.”

I am also shaken because the look and the tone were thus spooky. I’ve found refuge in a local village, and I’m considering whether or not I should always go back to Tok Tok.

Locals claim that a large portion of the risk may be reduced if proper monitoring were in place for glacial lake located inland of human settlements.

While a dozen rivers have drawn the attention of experts and authorities, they added, the rest are basically ignored.

Nevertheless, disaster planning is non-existent in many townships.

A few settlements downstream of the Imja glacial lakes have been taught how to operate in the event of a flood, according to Ms. Doma Sherpa.

” But there has been no instruction in our community anymore”.

Four incidents occurred in the Dudhkosi valley valley near Everest out of the more than a dozen glacial lake outbursts that have been documented in Nepal over the past 50 years.

One incident occurred upstream of Thame in 1985, when a big avalanche slammed into the Dig Tsho glacier river and created a storm that topped the bridge. A hydroelectricity plant downstream was destroyed by the flood, which also caused more than$ 3 million in damage.

Khumbu Pashanlhamu Rural Municipality People walk down a dirt road amid rubble and destroyed buildings beside a partially collapsed hillsideKhumbu Pashanlhamu Rural Municipality

Little lakes, great dangers

Not a problem that only affects Thame, the lack of checking is not one-sided by it.

In the Himalayas, there are hundreds of ice and glacial lakes, but only a small percentage of those in the Mountain region are monitored and equipped with premature flood warning systems.

Global warming is also accelerating glacier dissolving, which could cause lake to overflow.

A study conducted by the University of Leeds in 2021 found that over the past few decades Himalayan ice have lost snow ten times more quickly than the regular price since their development, which dates back 400 to 700 years.

According to a study that was published in the Nature book in 2022, South Col Glacier on Mount Everest may have lost half of its size since the 1990s as a result of heat.

Imja Lake, which is located below Mount Everest, was drained in 2016 after authorities discovered it was in risk of overflowing and flooding nearby communities, trekking trails, and roads.

However, according to experts, several new rivers have formed in recent years, while others have expanded and joined forces to be larger people.

The destabilization of the native scenery, which is caused by fast-retreating ice, adds to the risk by creating more floods and avalanches that you put into the lakes and cause them to burst, further aggravating the situation.

Officials claim to have monitored around 20 glacial rivers in the Nepali Himalayas and have listed them as dangerous, but the two that burst on August 16 were none mentioned in that list nor closely monitored by authorities.

The damage is so great, according to Mr. Tshering Sherpa,” but they were the smallest people, and no one cared about them.”

” Think what might occur if the great ones suddenly burst out. In the Mountain area, there are many of them.

A helicopter inspection by Nepal’s Disaster Risk Reduction and Management Authority ( NDRRMA ) revealed there were a total of five small glacial lakes close to the source of the flooding. One of them had half burst, another had burst fully.

Which means that the three different lakes at the same place was burst out at the same time, according to Ms. Doma Sherpa.

” Now that people know that, they do n’t feel safe anymore. We are mainly concerned about older people because of their accessibility issues.

Khumbu Pashanlhamu Rural Municipality An aerial view of a village in the Khumbu Valley where the hillside has been shorn away.Khumbu Pashanlhamu Rural Municipality

Cut off from the outside world, exactly?

Visitors claim that some damages caused by floods are then irreparable, and the effects of global warming on Himalayan glaciers and lakes have only grown worse since then.

The Thame River’s course changed as a result of Friday’s storm, which changed while it used to pass through the Khumbu valley’s left bank. It now flows right through the town, claiming nearly half of the land.

” Much of the remaining property today is full of dust and rock”, Ms Doma Sherpa said.

” This is not the same as rebuilding the homes that the earthquake destroyed.” What can you create on when you have no property left?

The only electricity station in the area that provides energy to the area has also been damaged by the storm.

After the catastrophe, which caused the place to stop working, mud and debris accumulated in the reservoir.

” As a result, energy source has been cut off, and because of that telecom techniques were also not functioning”, Mingma Sherpa, head of a junior team at Namche, a big tourist spot near Thame, said.

Since the crisis struck, the region has been completely disconnected from the outside world. This is quite frightening”.

” This catastrophe has shown how uncomfortable and vulnerable we are,” said one of the people who had been worried about slow commencement effects of climate change, such as dwindling water resources.

State leaders are aware of the concerns of the area.

The power is then assembling a team of experts to” studie the risks posed by the three remaining lakes downstream of Thame town and determine whether the upstream settlement places are safe to live in or not,” according to Anil Pokhrel, mind of NDRRMA.

” We are even working on disaster risk reduction in the region”, she added.

Members of native Sherpa areas, but, say they’ve seen more talk and less motion over the years when it comes to dealing with challenges from glacial lakes outbursts.

” We hear all great ideas, especially during meetings, and soon the ideas are forgotten”, Ms Doma Sherpa said.

” But we ca n’t forget what this flood has done,” he says, adding that there are lakes nearby that can cause disasters for us at any time.

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Myanmar massacre: ‘My family died in front of my eyes’

BBC/Aamir Peerzada Nasir sits on a log on the bank of a river looking out across the river. His face is turned away and is not visible. He is wearing a grey t-shirt, shorts, and sandals. The day is overcast, and a small boat is also visible on the bank of the river. BBC/Aamir Peerzada

Warning: This article contains facts some readers may find disconcerting.

When the weapons started falling, Fayaz and his family believed they were moments away from health, saying,” We were getting on the boat one after another; that’s when they started bombing us.”

Howls and shouts filled the air around 17: 00 local period on 5 August, Fayaz* says, as hundreds of terrified Rohingyas made their way to the bankers of the Naf valley in the area of Maungdaw.

Attacks on settlements earlier in the area meant this was what hundreds of families, including Fayaz’s, saw as their only choice- that to get to health, they had to leave from northern Myanmar to Bangladesh’s safer shores.

Fayaz carried sacks full of whatever they had gathered. His family was carrying their six-year-old girl, their eldest was running alongside them. His sister’s girl was walking ahead, with the child’s eight-month-old child in her arms.

The primary weapon killed his sister-in-law quickly. The child was terribly injured- but dead.

” I ran and carried him… But he passed away while we waited for the bombing to end.

Nisar* had even made it to the river by about 17: 00, having decided to leave with his family, spouse, son, daughter and girl. ” We heard robots behind and then the loud noise of an explosion”, he recalls. ” We were all thrown to the ground. They dropped bombs on us using robots”.

Only one of his household members survived, Nisar.

Fayaz, his partner, and child escaped and had finally cross the river. Despite his demands, the boatman resisted allowing Fayaz to take the baby’s body with them. He claimed that there was no purpose in bringing the dying, so I dug a tunnel by the river bank and quickly buried him.

They are currently all in Bangladesh’s comparative safety, but they could be sent back if they are apprehended by the government there. In a single moment, Nisar clutches a Quran, unable to comprehend how his entire world was destroyed.

” If I’d known what would happen, I would never have tried to leave that day”, Nisar says.

It is extremely challenging to part along the civil war in Myanmar. However, the BBC has been able to capture the events of August 5 through a number of exclusive interviews with more than a hundred Rohingya escaped to Bangladesh and the video they shared.

All of the survivors, who are armed Rohingya civilians, report experiencing numerous bomb explosions over the course of two hours. Some people claimed they were hit by cement and gunfire, while the majority of people described the drones being dropped, a tool that is extremely being used in Myanmar. In the days that followed, the MSF office working in Bangladesh reported that it saw a significant increase in Rohingya wounded in the days that followed; half of the injured were women and children.

The river lender is covered in bruised bodies, many of whom are children and women, according to survivors ‘ videos that BBC Verify analyzed. Numerous witnesses have reported seeing numerous body to the BBC despite there being no official count of how many people have been killed.

Victims reported to us that the Arakan Army, one of the strongest rebel groups in Myanmar, attacked them, which had recently forced the defense out of nearly all of Rakhine State. They claimed that as they ran away from their villages, the creek bank attacked them once more before they were forced to flee.

The AA declined to be interviewed, but Khaing Tukha, its spokeswoman, denied the charge and responded to the BBC’s inquiries with a speech that stated” the affair did not occur in areas controlled by us.” He even falsely accused the AA and accused Rohingya protesters of carrying out the massacre.

Nisar stands by his consideration, yet.

” The Arakan Army are lying”, he says. ” They carried out the attacks. On that day, it was only them in our neighborhood. And they’ve been kicking us in the face for days. They do n’t want to leave any Muslim alive”.

Most of Myanmar’s Rohingya Muslims live as a majority in Myanmar – a Buddhist-majority position, where the two areas have long had a fraught relationship. Local Rohingya men also participated in the problems in 2017, when the Myanmar military killed thousands of Rohingyas in what the UN referred to as” a textbook example of ethnic cleansing.” Rohingyas once more find themselves trapped in a spiraling conflict between the coup and the AA, which enjoys solid support from the cultural Rohingya population.

Handout Fayaz's son looks at the camera. The baby is lying on a wooden surface with a pillow behind his head, wearing a baby grow. Handout

Rohingya survivors told the BBC they wished to share details of the violence they experienced so it would n’t go undocumented, especially as it took place in an area that is no longer accessible to rights groups or journalists, despite the risk of being caught and returned to Myanmar by the Bangladeshi authorities.

” My heart is broken. Nowadays, I’ve lost anything. I do n’t know why I survived”, Nisar says.

As the shooting increased close to his Rakhine home, he sold his land and home. But the issue intensified faster than he expected, and on the morning of 5 August, the family decided to leave Myanmar.

He is crying as he points to his mother’s body in one of the movies:” My child died in my hands saying Allah’s title. She looks but calm, like she’s sleeping. She loved me but much”.

He also mentions his wife and sister, both of whom were seriously hurt but still alive when the picture was captured on camera. Because the weapons were also falling, he had to make the agonizing decision to leave them behind. They eventually passed away, he discovered.

BBC/Aamir Peerzada Three people are visible in a hut which appears to be made of bamboo. A child lies on the floor, covered by a colourful blanket, with a man and a woman sitting next to them on a green mat. The woman is wearing a head and face covering, and the ban has a medical face covering on. BBC/Aamir Peerzada

” There was nowhere left that was healthy, so we ran to the valley to cross over to Bangladesh”, Fayaz says. Fayaz gave all of his wealth to a fisherman to transport them across the valley after the gunfire and weapons had spread from village to village.

Devastated and unhappy, he holds up a picture of his father’s wounded brain.

” If the Arakan Army did n’t fire at us, then who did”? he asks. I am aware that the Arakan Army was present where the weapons came from. Or was it” torn falling from the sky”?

These charges raise serious questions about the Arakan Army, which claims to represent every member of Rakhine’s population in a revolutionary action.

The AA, a member of the larger Three Brotherhood Alliance of military militants in Myanmar, has made significant gains since late last year in opposition to the military.

However, the army’s costs have added new problems to Rohingyas, who have previously claimed they were being violently recruited by the junta to combat the AA.

This has strained now subpar relations between the two communities and made Rohingya civilians prone to punishment as a result of the Rohingya militant group ARSA’s decision to unite itself with the coup against the Rakhine insurgents.

One veteran of the 5 August attack claimed that ARSA extremists who had allied themselves with the coup had been among the frightened crowd, which might have led to the attack.

There was a significant usage of power, according to the statement. There were children, girls, the elderly that were killed that morning. It was also indiscriminate”, says John Quinley, a chairman of the human rights team Fortify Rights, which has been investigating the incident.

” So that would lead us to conclude that there are valid grounds to believe that the 5 August incident occurred. The Arakan Army may be subject to criminal justice, and top Arakan Army commanders may be held responsible.

A map showing an aerial image of where the attack happened, and the proximity of Myanmar to Bangladesh - the two countries share a border in the west of Myanmar and the south east of Bangladesh.

The Rohingya group is at a perilous time right now. More than a million of them fled to Bangladesh in 2017, where they continue to be restricted to densely-packed, dirty camps.

More people have been arriving in recent months as a result of the Rakhine combat, but it’s no longer 2017, when Bangladesh’s borders were opened. The government has stated that it is against the law to accept any more Rohingyas.

So survivors who can find the money to pay boatmen and traffickers must pass through Bangladeshi border guards and chance their luck with locals, or hide in Rohingya camps. The BBC was told it would cost$ 600,000 ($ 411 ) per person.

The frontier guards gave Fayaz and his family a meal when they arrived in Bangladesh on August 6 before loading them onto a vessel and returning them.

” We spent two days upright with no food or water”, he says. I pleaded with some of the others on the boat to provide my daughters a few cakes from the boxes they had and gave them water from the river to drink.

On their next test, they entered Bangladesh. But at least two canoes have capsized because of congestion. One person, a lady with 10 kids, said she had managed to hide her home during the attack, but five of her children drowned when their boat overturned.

” My spirit was surrounded by my kids,” I said. When I think of them, I want to die”, she says, weeping.

Her granddaughter, a wide-eyed eight-year-old child, sits beside her. Both his younger brother and parents passed away.

Handout The faces of the family who drowned as a split image, showing close ups of two women and a girl and a boy. Handout

What about those who were forgotten, though? Although the Maungdaw telephone and internet connections have been down for weeks, the BBC finally got in touch with one man who wanted to remain unnamed for safety.

He claimed that the Arakan Army has forced us to leave our homes and that they are keeping us in universities and temples. In a small apartment, I am being cared for by six different people.

In response to fighting between the military and the Arakan Army, the organization reported to the BBC that it had rescued 20, 000 residents from the area. It said it was providing them with foods and health care, and include that” these activities are conducted for the safety and security of these people, not as forced evictions”.

The caller rejected their assertions. The Arakan Army has promised to take us if we attempt to leave. We are running out of food and drugs. I am ill, my family is unwell. A lot of people have vomiting and are vomiting”.

He broke down, pleading for help:” Tens of thousands of Rohingya are under risk around. If you can, please preserve us”.

Across the river in Bangladesh, Nisar looks up at Myanmar. He can see the beach where the murderer’s community was killed.

” I never want to go back”.

Aamir Peerzada and Sanjay Ganguly provided extra monitoring.

* Brands have been changed on demand

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EQT Private Capital Asia agrees .1bn deal for PropertyGroup Guru; buys Korean recycler and seeks .5bn fundraise | FinanceAsia

PropertyGuru Group ( PropertyGuru), a leading property technology company in Southeast Asia ( SEA ), has been acquired by Hong Kong-based EQT Private Capital Asia for$ 1.1 billion in cash.

TPG ( through TPG Asia VI SF and TPG Asia VI SPV, in its capacity as general partners of TPG Asia VI Digs ), which owns around 26.5 %, and KKR ( through Epsilon Asia Holdings II ), which owns around 29.6 % of the business. In order to help the bargain, both companies have entered into voting and aid contracts with the business and EQT Private Capital Asia. &nbsp,

PropertyGuru’s board of directors, acting upon the advice of a particular commission, unanimously approved the deal and recommends acceptance of the acquisition by PropertyGuru’s owners, according to an August 16 news.

The offer is equal to$ 6.70 per share and represents a 52 % premium to PropertyGuru’s closing share price on May 21, 2024, the last unaffected trading day prior to media speculation regarding a potential transaction, and a 75 % and 86 % premium to the company’s 30-day and 90-day volume-weighted average share price, respectively, for the period ending May 21, 2024, the announcement said. &nbsp,

The deal is expected to close in Q4 2024 or Q1 2025, subject to final problems, including acceptance by PropertyGuru’s shareholders and certificate of regulatory approvals.

Upon completion of the transaction, PropertyGuru’s shares will no longer trade on the New York Stock Exchange ( NYSE), and PropertyGuru will become a private company. PropertyGuru’s office will be in Singapore.

 

Freshfields Bruckhaus Deringer acted as the unique committee’s legal counsel, and Moelis &amp, Company is its financial consultant. Ropes &amp, Gray serves as EQT Private Capital Asia’s legal advisor, and Morgan Stanley Asia ( Singapore ) serves as its financial advisor. Latham &amp, Watkin is KKR and TPG’s legal advisor, and JP Morgan Securities Asia Private is their financial director.

 

PropoertyGuru Group has a consolidation program with members of BPEA Private Equity VIII, a purpose-driven international investment company, in order to have the business acquired by EQT Private Capital Asia. &nbsp,

 

Development potential&nbsp,

 

The firm was founded in 2007 by Steve Melhuish and Jani Rautiainen, and provides online property markets for home seeking, real estate agents, home developers, banks and brokers across Singapore, Malaysia, Vietnam and Thailand. In a special purpose acquisition ( SPAC ) agreement with Bridgetown 2 Holdings, which Richard Li and Peter Thiel supported, PropertyGuru was listed on the NYSE in March 2022 and raised$ 254 million. &nbsp,

Hari Krishnan, chief executive officer &amp, managing director, PropertyGuru, said in a statement,” We are pleased to embark on this new chapter with EQT. This agreement comes after decades of transformative growth, which TPG and KKR have supported, making us the industry’s top proptech platform.

Krishnan added:” As we continue to innovate and provide value to our consumers, customers, and stakeholders across the place, EQT’s international experience in building marketplaces and commitment to sustainable development will further improve our perception to power communities to live, function, and thrive in tomorrow’s cities”.

” PropertyGuru has firmly established itself as the leading property market system in Lake, and we are deeply impressed by the strong base it has built over the past 17 years as well as with its brilliant team,” said Janice Leow, partner in the EQT Private Capital Asia consulting team and head of EQT Private Capital SEA.

Leow continued,” We think our offer strategically positions PropertyGuru to fully exploit its long-term growth potential while offering shareholders compelling value and certainty.” With EQT’s significant experience in the technology, online classifieds and marketplace sectors, we aim to further strengthen PropertyGuru’s platform, driving enhanced innovation and deeper engagement with its consumers, customers and stakeholders”.

Buys Korean recycler, seeks$ 12.5bn raise

For an undisclosed sum, EQT Infrastructure VI purchased a KJ Environment from Genesis Private Equity. According to a media release, the goal is to establish” a sclaed and diversified end-to-end waste treatment scheme platform focused on plastic recycling and waste-to-energy in South Korea.” &nbsp,

KJ Environment works across recyclable waste sorting, plastic recycling and waste-to-energy. It has locations in the Greater Seoul Metropolitan Area, which provide services to catchment areas that account for more than 50 % of the nation’s GDP and population.

The purchase is EQT’s second infrastructure investment in South Korea.

In the release, Sang Jun Suh, a partner in the EQT infrastructure advisory team, stated,” We look forward to using EQT’s extensive experience investing in sustainable waste and recycling solutions across geographies, combined with our strong local footprint and industrial network, to help KJ Environment become a true market leader in the waste treatment space.

The business strengthens EQT’s track record of supporting infrastructure companies in the Asia Pacific region by extending its global portfolio of businesses that engage in waste-related business. Since 2020, EQT Infrastructure has invested €5 billion ($ 5.52 billion ) of equity, including co-investment, in Asia Pacific companies. Around 11, 000 people work the portfolio managed by EQT’s infrastructure team in Asia Pacific.

The transaction is subject approvals and&nbsp, is expected to close in Q4 2024. EQT was advised by JP Morgan on financials, Kim &amp, Chang for legal, and PwC for financial and tax.

With this transaction, EQT Infrastructure VI is expected to be 45-50 % based on target fund size and subject to customary regulatory approvals.

Meanwhile, EQT is looking to raise around$ 12.5 billion for EQT Private Capital Asia’s BPEA Private Equity Fund IX.

 

¬ Haymarket Media Limited. All rights reserved.

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Nepal: Himalayan Sherpa village hit by freezing floods

According to officials, snowy flood waters have engulfed a Sherpa town in Nepal’s Mountain region.

Thame, which is located at an elevation of about 3,800m, is thought to have been flooded by a glacial river that has burst its banks. Experts have warned that the Himalayan ice are melting at an alarming rate due to climate change.

No fatalities or injuries have been reported, but more than a hundred structures, including buildings, a school, and a wellbeing center, have been completely destroyed by Friday’s flood.

Sherpa Tenzing Norgay, the first man to summit Mount Everest along with navigator Edmund Hillary, hailed from Thame, where some record-breaking Sherpa climbers reside.

In floods that have become colored due to mud and debris, videos of bubbly, milky waters flowing through the village.

Gaurav Kumar Houston, a spokeswoman for the Egyptian army, told AFP that 15 homes had been destroyed while save teams were rescuing those who had fallen.

Local officials claim that during their research, bad weather prevented the use of helicopters, and that they intend to take them to the mountains on Saturday night.

Arun Bhakta Shrestha, a climate change specialist at the International Centre for Integrated Mountain Development ( ICIMOD ), said there are “indications” that the flood was the result of a glacial lake outburst and that they were working to confirm it despite the fact that the cause is unknown.

Experts have warned that glacial lake in the Himalaya are becoming unstable and prone to burst their businesses as a result of climate change and glacial glaciers melting.

In the Himalayas, glacier melt has created hundreds of glacial lakes that have appeared inexplicably. According to a 2020 review by the ICIMOD, 2, 070 were documented in Nepal, of which 21 were ranked “potentially dangerous”.

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