Fintech PR

CGTN: Booming consumption during Spring Festival off to a roaring start

Published

9 months ago

February 26, 2024

BEIJING, Feb. 26, 2024 /PRNewswire/ — The Chinese people across the country celebrated the Lantern Festival on Saturday, which is not only a traditional Chinese festival celebrated on the fifteenth day of the first month on the lunar calendar but also marks the end of the annual Spring Festival.

Gorgeous lantern shows, traditional dragon dance and guessing lantern riddles are among the activities that people join to greet the festival. The lantern shows across the country are ready to bring another big volume of tourists as the Spring Festival of the Year of Dragon comes to an end.

The number of searches related to “Lantern Festival” on travel portal LY.com increased by three times, and short-distance cross-city tours are among the mainstream tourism consumption at the festival, according to data from the travel portal.

Specifically speaking, more than 60 percent of the visitors to the Shanghai Yuyuan Garden Lantern Show are estimated to come from other cities, according to LY.com.

Tourism is one of the best performers during the Chinese New Year holidays, which has witnessed multiple records in areas ranging from transportation to online sales and entertainment.

A total of 474 million trips were made across China during the eight-day holiday, up 34.3 percent year on year, data from the Ministry of Culture and Tourism showed.

The data also showed that China’s domestic tourism spending hit 632.69 billion yuan ($87.93 billion), up 47.3 percent year on year.

China is estimated to embrace a record high of 9 billion passenger trips during the forty-day Spring Festival travel rush, which began on January 26.

The country had registered over 3.5 billion passenger trips during the first 17 days of this year’s Spring Festival travel rush, according to data from transport authorities.

The national box office during the Spring Festival is also a big winner thanks to the Chinese people’s growing spending power.

Bolstered by a string of blockbuster films, the country’s box office revenue during the festival exceeded 8 billion yuan, marking a new record high, according to data released by the State Film Administration.

What cannot be ignored is another fact: the proportion of box office in third- and fourth-tier cities during the festival has increased to 58.0 percent, marking a five-year high, according to a data report released by Maoyan Research Institute, which tracks box-office trade.

Online consumption showed a strong kickoff with striking results. Data from the Ministry of Commerce indicated that the online retail sales during the Spring Festival shopping season, from January 18 to February 17, reached at least 800 billion yuan, up 8.9 percent from the same period last year.

During the Spring Festival this year, the number of small program orders on Wechat for food and beverage, as well as wine and travel, increased by 36 percent and 19 percent, respectively, compared with last year, according to the data.

https://news.cgtn.com/news/2024-02-24/Booming-consumption-during-Spring-Festival-off-to-a-roaring-start-1rswYhDTxAI/p.html

View original content:https://www.prnewswire.co.uk/news-releases/cgtn-booming-consumption-during-spring-festival-off-to-a-roaring-start-302070947.html

Fintech PR

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

Published

1 day ago

November 24, 2024

CISION (PR Newswire)

wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region

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

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

Photo – https://mma.prnewswire.com/media/2566076/Wahed_MENA_Khalid_Al_Jassim.jpg

View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html

Fintech PR

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

Published

1 day ago

November 24, 2024

CISION (PR Newswire)

qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech,-wahed

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

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/

Photo – https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg

View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

2 days ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.