Technology

CGTN: An up-close and personal look at China’s opening up and globalization

Published

2 years ago

November 8, 2022

BEIJING, Nov. 7, 2022 /CNW/ — In his report to the 20th National Congress of the Communist Party of China, General Secretary Xi Jinping emphasized “opening up” 29 times. He stresses that China adheres to the right course of economic globalization. It strives to promote trade and investment liberalization and facilitation; advance bilateral, regional and multilateral cooperation; and boost international macroeconomic policy coordination. It is committed to working with other countries to foster an international environment conducive to development and create new drivers for global growth.

Wang Huiyao, the Director of the Center for China and Globalization, said that for those who have lived through the past half century, globalization is the physical reality that keeps changing the people’s lifestyle, a momentum for individuals to change the trajectory of their lives.

From his personal experience, he believes that had there not been China’s integration of globalization with reform and opening up, he would have missed all the opportunities towards self-realization, and China have also remained in limbo, without achieving all the progress. He says that overseas studies contributed lifelong values both to his global knowledge and career, given him skills and professional knowledge on how to work internationally, while seeking to collaborate with people of diverse cultural backgrounds.

China’s integration into the global system has created great benefits. China’s opening-up laid the foundation for poverty alleviation. Since 1978, 770 million rural residents living below the poverty line have been lifted out of poverty. The country realized its poverty reduction goal from the UN 2030 Agenda for Sustainable Development a decade ahead of the schedule. It has become the second largest economy in the world and, over the past decade, contributed over 30 percent of global GDP growth.

Today, globalization faces many challenges. Social inequalities, climate change, the pandemics — all of the intricate problems embedded in the process of globalization have transformed into a mighty force to stand against it. Some have blamed China as the saboteur of international order.

But data shows a different story. China is one of the largest contributors to the UN Peace-keeping mission among P5 countries. Since joining the World Trade Organization, China has significantly relaxed market access and reduced the overall level of import tariffs from 15.3 percent to 7.4 percent, fulfilling the “TWO accession” commitments. China has been active in multilateral institutions like the BRICS and the Shanghai Cooperation Organization.

The 20th CPC National Congress report has emphasized again and again that China’s door will be opened wider and wider, and China will keep on promoting economic globalization. Wang strongly believe that China will continue to open up and to champion globalization.

https://news.cgtn.com/news/2022-11-07/Openness-enables-us-to-move-forward-1ex0zIbKRvG/index.html

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SOURCE CGTN

Technology

Max Stock Limited Announces Change in Shares Held by an Interested Party

Published

36 minutes ago

November 24, 2024

CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

Technology

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

5 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

SOURCE Wahed

Technology

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

5 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

For more information, visit: www.wahed.com

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