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Beta Technologies Files for IPO Amid Record Equity Market

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

Electric aircraft developer Beta ​Technologies filed for an ‌initial public offering (IPO) on Wednesday, seeking to capitalize on growing investor interest in the emerging electric aviation sector.The South⁣ Burlington, Vermont-based company, backed by Amazon and​ Fidelity, aims​ to list on the New‌ York Stock Exchange under the ticker symbol “BETA,” according to⁢ a⁤ filing with the Securities and Exchange Commission.

Beta Technologies’ move comes as the IPO⁤ market begins to thaw after a prolonged slump, and as demand for sustainable transportation solutions‍ intensifies. The company is at the‍ forefront of developing electric vertical takeoff and landing (eVTOL) aircraft, targeting ‍both cargo ⁢and passenger transport. ⁣A accomplished IPO would provide ⁤Beta with crucial capital to accelerate production, ​expand‌ its charging infrastructure, and navigate the ‍complex regulatory landscape for electric air travel ⁣- a market projected to ‍reach $30 billion by 2030, according to⁢ industry estimates.

Founded ⁣in 2017 by Kyle ‌Clark,beta ‍has developed the Alia-250,a piloted eVTOL aircraft designed to‌ carry five passengers and travel up to 250 miles. The⁤ company has secured orders and letters of‌ intent ⁢from major players including United ⁣Parcel Service (UPS) and the‌ U.S. Air Force. Beta is​ also ‍building a⁤ nationwide network ⁢of charging stations to⁢ support its aircraft, with over 80 locations planned.

The company reported a net loss ‌of $40.6 million on revenue of $3.5 million for the year ended​ December ‍31, 2023, according ‍to the filing. Beta intends to use the proceeds from the⁣ IPO to fund continued​ research and⁣ advancement, expand its manufacturing capabilities, and support its commercialization ⁣efforts.The amount of⁢ capital Beta hopes to raise has not yet been disclosed.

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World

China-India Summit: Trade Ties, Border Talks, and Western Pressure | Reuters

by Lucas Fernandez – World Editor
written by Lucas Fernandez – World Editor

China and ⁤India Pledge to Enhance Ties Following Summit

BEIJING – China and India have agreed ⁤to hold another summit meeting to build upon recent progress in improving bilateral relations,​ signaling a potential thaw in ties marked by years of border disputes and trade imbalances.The commitment emerged following discussions between Chinese⁣ Premier⁢ Li Qiang and Indian Ambassador Pradeep Kumar Rawat⁤ in Beijing, according to a report by Reuters.

The move comes as both nations seek to stabilize a complex relationship crucial to regional stability ‍and ‍global economic growth. While notable challenges remain, including ongoing border tensions and trade barriers, the renewed dialog suggests ‌a willingness to address these issues and foster greater cooperation. this latest development builds on a series of high-level engagements initiated after a period of heightened friction,especially following clashes along the Line of Actual Control in 2020.

Reuters reported that discussions included a focus on tariffs, with both sides expressing a desire ​to find mutually beneficial solutions.While specific details regarding‍ tariff reductions were not disclosed, the acknowledgement of the issue represents⁤ a step forward. Trade between China and India totaled $135.95 billion in 2023, with a trade deficit of $76.1 billion in favor of China, according to Chinese customs data.

The Chinese Foreign Ministry stated that Li emphasized the importance of viewing each other’s development as an opportunity rather ​than a threat. He also urged both countries to manage their differences constructively and promote peace ⁣and stability​ along the border. Ambassador Rawat reportedly ‍conveyed India’s commitment to a stable and prosperous relationship with China, based on‍ mutual respect ⁢and understanding.

Laurie Chen, a China Correspondent at Reuters’ Beijing bureau, reported that this latest engagement follows⁢ six years of reporting on ​China for Agence france-Presse ⁤and the South China Morning Post in‍ Hong Kong. She speaks ⁤fluent Mandarin.

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Business

Japanese companies appeal to business in anticipation of Africa’s growth TICAD Expo begins | Reuters

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

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Japanese Businesses Eye ⁤African Expansion at TICAD9 Expo

Table of Contents

Yokohama, Japan – A business ⁤exposition opened August ⁢20th in Yokohama, serving as a key⁤ event alongside the 9th African Development ‍Conference⁣ (TICAD9). The ⁤expo showcases companies eager to capitalize⁣ on‌ Africa‘s robust economic and population growth, presenting a strategic shift for Japanese ⁢businesses ‌seeking new markets.

TICAD9: A Three-Decade Commitment to African ‌Development

TICAD, initiated by the Japanese‍ government in⁣ 1993, has evolved into‌ a triennial international conference​ focused on‌ fostering development across Africa. Prime⁤ Minister Shigeru Ishiba emphasized the importance of leveraging ⁤Africa’s resources and strengthening collaboration, stating, “It is indeed critically important to⁢ see how we can connect Japan’s growth and‍ world prosperity while ​making use of (Africa’s) human and physical resources as vitality.”

Africa’s population currently stands at approximately 1.5 billion, projected to reach ⁤2.5 billion by 2050-representing a quarter of the‌ global population. This ⁤demographic⁣ shift ​positions⁤ the continent as a critically⁣ important “last‍ frontier” for⁤ economic growth. As of year-end 2022, direct investment from ⁢Japan to Africa totaled⁤ 1.4232 trillion yen, a considerable 24.7% increase‌ from the previous year, with growing‌ investment in the⁤ financial and insurance sectors.

Key​ Japanese Companies Expand African Footprint

Toyota Tsusho ⁣ (8015.T), with a ​century-long presence in African trade dating ⁤back to 1922 cotton⁣ imports, is ‍actively expanding its operations. Beyond local business growth,‍ the company has acquired ​both a British‌ automobile‌ business‌ and CFAO, a⁤ major French trading ​firm, now encompassing shopping malls and ​supermarkets. Uni‌ Charm (8113.T) is collaborating to‌ introduce premium sanitary napkins in Kenya and plans a joint venture for broader business expansion.⁤

Did You Know?

TICAD is not merely a forum for investment; it also prioritizes human security, sustainable development, and peace and stability in‌ Africa.

Mitsui O.S. Lines (9104.T),a pioneer in Japan-East⁣ Africa shipping routes since 1926,has‌ diversified into land‍ transportation,warehousing,and startup investments‌ across South Africa,Mozambique,Kenya,and Mauritius. The company ‍is ⁣also launching an LNG (liquefied natural gas) power generation ⁣project off the coast of Senegal through a joint venture, offering a ⁤low-environmental-impact energy solution even in areas lacking LNG infrastructure.

Competition is also emerging from India,geographically closer to Africa. Companies based there are leveraging their proximity​ to expand their presence on the continent.

Daikin Industries (6367.T) is targeting⁤ the growing demand⁢ for air‌ conditioning in⁣ Africa, focusing on energy-efficient inverter technology.⁣ ⁣ The​ company is procuring air ‍conditioning ⁢parts from India for ⁣assembly⁤ in Nigeria ⁣and Algeria, while also investing in ‌local workforce​ training ⁢programs. Suzuki⁣ (7269.T), having ⁣withdrawn from ​four-wheel operations in‌ the US and China, is now prioritizing exports to Africa from its Indian manufacturing⁤ bases, adapting models⁤ developed for the Indian‍ market to suit African needs.

Pro Tip:

Understanding⁢ local market dynamics and consumer preferences​ is crucial for successful expansion into⁢ Africa.

India-Africa Economic‌ Zone Initiative

Prime Minister Ishiba announced the​ “Indian⁣ Ocean and Africa⁢ Economic Zone Initiative” at the yokohama forum, aiming to strengthen regional⁤ connectivity and establish a “free and​ fair​ economic zone.” He ⁤highlighted the contributions of⁤ daikin and Suzuki in transferring technology and empowering local communities, indicating plans to discuss the initiative further with Indian prime Minister Modi.

Norihiko Ishiguro, ‍Chairman of the ‍Japan External Trade Organization (JETRO), noted a recent shift ‍in investment preferences, ⁤with ​the US gaining ‍popularity while China’s appeal declines. He emphasized ⁤the importance of diversification, ​stating, “It’s​ not good to focus on the United States as a whole…we must seek ​a new frontier ⁢and take on a​ variety of different areas.”

Company Sector Key African Initiatives
Toyota⁤ Tsusho Trading, Automotive, ⁣Retail Acquisition of CFAO, expansion of retail ⁢network, cotton trade.
Uni Charm Consumer Goods Premium sanitary napkin launch in Kenya, joint venture development.
Mitsui O.S. Lines shipping, Logistics, energy LNG⁤ power ‌generation project in ‌Senegal, expansion of logistics network.
Daikin‌ Industries HVAC Local assembly in‌ Nigeria/Algeria,​ workforce training programs.
Suzuki Automotive Exports from India, adaptation of models for African markets.

The increasing Japanese investment in Africa ⁤reflects a⁢ broader⁣ trend⁢ of recognizing ‍the continent’s potential as a key driver ⁤of⁤ global economic​ growth. This strategic focus ⁤is underpinned by Africa’s demographic ⁤advantages and the growing need for sustainable development solutions. ‍ ⁣According to the United⁣ Nations, Africa is projected to‌ contribute⁣ more then half of the​ world’s population growth between now and 2050 (UN World Population Prospects, 2022).

The long-term trend of increasing investment in Africa is driven by several factors,including a​ young and rapidly ‍growing population,abundant natural resources,and increasing urbanization. Though, challenges ‍remain, including infrastructure deficits,​ political instability in⁢ some regions, and the⁢ need for⁤ improved ‍governance.Successful ⁢investment strategies will require a deep understanding‍ of local contexts and a commitment⁢ to‍ sustainable and inclusive development. ‍ The African Continental Free ⁣Trade ‌Area (AfCFTA), launched in 2021,⁢ is expected​ to further boost intra-African trade and attract foreign ⁤investment (African Union ‍- AfCFTA).

Frequently‍ Asked Questions about Japanese Investment‍ in Africa

  • What ‍is TICAD? TICAD (Tokyo International‌ Conference on African Development) is a ⁤triennial forum ​led by Japan to promote African development.
  • Why is Japan increasing ⁣investment in Africa? Japan sees africa as ‌a ⁢key growth market due to ⁢its expanding population ​and economy.
  • Which sectors are attracting the most⁤ Japanese investment? ‍ Key sectors include automotive, consumer goods, logistics, ⁢and energy.
  • What role does India⁢ play in ​African development? India ​is⁢ a ​significant competitor and partner in african development,leveraging its geographical proximity.
  • What are the main challenges to investment‍ in Africa? Challenges include infrastructure deficits, political instability, and‍ governance
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Business

Entrepreneurs revealed 150,000 people to be victims of layoffs, predicted to increase!

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

Indonesia Faces Soaring Layoffs, Exceeding Official Figures

Employers Warn of Continued Job Cuts Amidst Global Trade Headwinds

Jakarta, Indonesia – A stark increase in job terminations is significantly impacting Indonesia’s workforce, with the employers’ association reporting numbers nearly four times higher than official government data. The trend points to growing economic pressures affecting businesses across the nation.

Employers Association Highlights Alarming Layoff Data

According to **Shinta Kamdani**, Chairperson of the Indonesian Employers’ Association (Apindo), roughly 150,000 individuals faced termination of employment (PHK) between January and June 2025. Out of this substantial figure, **Shinta** noted that 100,000 have initiated benefit claims through BPJS Employment.

She elaborated on Apindo’s reliance on BPJS Employment data, stating, If we are in Apindo, we use the layoff data from the BPJS Employment, so we see those who come out of the BPJS, the layoffs until January to June 2025 are already 150 thousand. And the claims are 100 thousand.

Government Figures Contrast with Employer Reports

This alarming figure starkly contrasts with the Ministry of Manpower’s (Kemnaker) report, which documented 42,385 workers affected by layoffs during the same January to June period. This represents a 32.19% increase compared to the 32,064 workers laid off in the first half of the previous year.

**Shinta Kamdani** acknowledged the discrepancy but emphasized the undeniable trend of rising job losses. But of course we also see that in the Ministry of Manpower has a report from the Manpower Office and others. So that’s why I say we don’t have to argue about numbers, data. But clearly it seems that the increase was there, the government said 32%. That was a high number, high increase. And this was already felt also from the survey made by Apindo.

The Indonesian economy has seen a 0.5% increase in its unemployment rate in the first quarter of 2025, reaching 5.1% of the total workforce, according to Statistics Indonesia (BPS) (BPS February 2025).

Concerns Mount Over Export Industry and Tariffs

**Shinta** anticipates a continuation of layoff waves, partly due to potential trade disruptions. She specifically cited a hypothetical 19% tariff from the United States as a threat to export-oriented industries, particularly textiles and textile products (TPT).

So we both agree that this is not just ordinary layoffs, but this layoff is really running and is still rolling. So in terms of Trump tariffs and others it should not be increased again. Because the exports are hit there TPT (textiles and textile products), she stated.

She warned that if Indonesia faces unfavorable trade terms compared to competitors, resulting in order diversions, the domestic workforce will suffer, leading to further job cuts.

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Business

Indonesia Unemployment Rate Rises to 7.28 Million in February 2025

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

Indonesia Sees surge in Informal Employment,BPS Reports

Jakarta – Indonesia’s workforce is increasingly leaning towards informal employment,with the Central Statistics Agency (BPS) revealing a rise to 59.40% in Febuary 2025, up from 57.95% in August 2024. This shift coincides with an increase in the number of unemployed individuals, a trend highlighted in BPS’s latest employment data.

The Open Unemployment Rate (TPT) saw a decrease in February 2025 compared to August 2024. However, urban areas experienced an increase of 0.46 million people in underemployment during the same period. The BPS noted that the rise in informal work is occurring alongside this increase in unemployment figures.

Previously,data released on May 5,2025,indicated that Indonesia’s unemployment had reached 7.28 million people as of February 2025, an increase of 83.45 thousand people from the previous year. Head of BPS, Amalia Adinegar Widyasanti, stated that the growing number of unemployed individuals is attributed to an expanding labor force, which grew by 3.67 million to 153.05 million people. Despite an increase in the employed population to 145.77 million, a rise of 3.59 million from the prior year,not all new entrants were absorbed into the formal job market.

“Not all are absorbed in the work market so there are 7.28 million unemployed people,” Amalia explained at a press conference. “compared to February 2024, as of February 2025 the number of unemployed people increased 83.45 thousand people who rose about 1.11%.”

The overall TPT rate for February 2025 stood at 4.76%, a slight decrease from 4.82% in February 2024. This decline was especially noticeable in the female TPT, while the male TPT saw a marginal increase of 0.02 percentage points. The BPS confirmed that the reduction in TPT was consistent across both urban adn rural areas.(acd/acd)

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World

Red Sea cargo ship sinks, 4 people die, 15 people unknown Houthis rescue several people | Reuters

by Lucas Fernandez – World Editor
written by Lucas Fernandez – World Editor

[アテネ ９日 ロイター] – Six crew members of the cargo ship “Eternity C” that was attacked and sank in the Red Sea off Yemen were rescued on the 9th. The search for 15 missing people remains. Yemeni pro-Iranian armed group Houthis claimed responsibility for the attack.

According to sources,Eternity COn the afternoon of the 7th, the group was attacked by marine drones and rockets fired from a Houthi high-speed boat. Two security officials told Reuters that the ship was attacked again on the night of the 8th, forcing the crew to jump into the sea. Eternity C was home to 22 crew members and three armed guards, and four people were killed in the attack.

Officials say that the six sailors rescued spent more than 24 hours in the sea. One source said it was possible that some of the crew members had been abducted by the Houthis.

A Houthi spokesman later said in a television speech that “The Yemeni Navy rescued several of the ship’s crew, provided medical procedures and transferred them to a safe location.”

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