Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

International Islamic Trade Finance Corporation (ITFC) launches landmark Trade Connect Central Asia+ (TCCA+) Program at the 3rd Tashkent International Investment Forum



TCCA+ is a pioneering regional economic cooperation initiative spanning Azerbaijan, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan

The Program aims to contribute, through trade and investment development, to the achievement of inclusive economic growth, regional economic cooperation and promote trade, among the OIC member countries in the Central Asia OIC member countries and Azerbaijan, and with the rest of the world

TASHKENT, Uzbekistan, May 2, 2024 /PRNewswire/ — The International Islamic Trade Finance Corporation (ITFC), member of Islamic Development Bank Group, is delighted to announce the launch of its newest flagship Trade Connect Central Asia+ (TCCA+) Program at the 3rd Tashkent International Investment Forum.

The aim of the Program is to facilitate economic growth and regional economic integration amongst the six Organisation of Islamic Cooperation (OIC) member countries in the Central Asia region, namely Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan plus Azerbaijan.

The region boasts one of the world’s largest energy resources and significant production capacities in energy and agriculture. However, current regional trade among these markets has not yet reached its full potential. With a focus on increasing regional trade and diversifying the export base towards higher value-added products, the TCCA+ Program is expected to contribute to inclusive and sustainable economic growth, as well as regional economic integration among the six targeted countries. This will be achieved by boosting export and investment capacities, enhancing competitiveness, and promoting trade initiatives and regional value chains, thus unlocking intra-regional trade and investment potential. Additionally, the Program seeks to promote increased trade among the OIC member countries in the region and with the rest of the world.

The TCCA+ Program was unveiled during a prestigious roundtable event, in the presence of esteemed ministerial representatives from beneficiary countries. Eng, Hani Salem Sonbol, CEO ITFC and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD) was joined by esteemed dignitaries including H.E. Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan; H.E. Serik Zhumangarin, Deputy Prime Minister of Kazakhstan; Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan; Serdar Jorayev, Minister of Finance and Economy of Turkmenistan; Solehzoda Ashurboy, First Deputy Minister, Ministry of Economic Development and Trade of the Republic of Tajikistan; Dr. Rupa Chanda, Director of the Trade, Investment and Innovation Division of ESCAP; Ibrahim Shoukry, Head of IsDB Regional Hub Almaty, Kazakhstan; and Sanzharbek Bolotov, Deputy Minister, Ministry of Economy and Commerce of the Kyrgyz Republic. Simon Quijano-Evans, Chief Economist at Gencorp Capital, moderated the event, attended by multilateral financial institutions, international development agencies, international and regional organisations and agencies active in the region, and senior representatives from key public and private institutions in OIC member countries.

The TCCA+ Program was explicitly designed for the region and tailored to the specific needs of the six targeted countries. Prior to the launching, a focal points meeting and program validation workshops were held in Istanbul, Türkiye, and Baku, Azerbaijan, in October and December 2022, respectively, to align with and validate the objectives of the Program with the needs of the 6 targeted countries. At last year’s Tashkent International Investment Forum, ITFC also organised the TCCA+ Program Development Partners Roundtable to ensure the active involvement, engagement and collaboration of all development partners and relevant stakeholders.

As a key partner and sponsor of the Tashkent International Investment Forum 2024, ITFC has further demonstrated its commitment to supporting economic growth and fostering regional cooperation.

In his statement at the launching, Eng, Hani Salem Sonbol, CEO of ITFC and Acting CEO of ICD, said:

“We are immensely proud to launch the TCCA+ Program, which represents a significant step forward in enhancing economic cooperation and boosting trade across the Central Asia region and beyond. This initiative is designed to unlock the vast economic potential of the region by facilitating increased regional trade and investment. With a focus on the energy and agriculture sectors, we are committed to fostering sustainable economic growth and regional integration that benefits all member countries involved.”

The Minister of Investments, Industry and Trade of the Republic of Uzbekistan, Laziz Kudratov, was quoted saying:

“We are honoured to host the launch of this transformative economic initiative, following the development and progress made at last year’s Forum. We are united with ITFC in our shared goal to unlock the immense investment potential in Uzbekistan, and strongly support their efforts to drive economic prosperity across the wider region.”

About the International Islamic Trade Finance Corporation (ITFC)

The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$75 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.



Cision View original content to download multimedia:

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Tan Xuguang: Driving Strategic Collaboration with Leading Global Industry Enterprises



MUNICH, May 24, 2024 /PRNewswire/ — From May 22nd to 23rd, 2024, Tan Xuguang, along with a delegation, convened in Munich, Germany, to conduct a visit and engagement with prominent entities including Germany’s TÜV Süd Group, FEV GmbH, and MAN Truck & Bus Group, a subsidiary of the Volkswagen Group. The primary objective of this initiative was to tackle the challenges posed by the advent of the new technological landscape. Central to this endeavor was the establishment of a succession of strategic cooperation agreements aimed at harmonizing global cooperation frameworks.

On May 23rd, 2024, Tan Xuguang and his delegation paid a visit to the MAN Truck & Bus Group, operating under the Volkswagen Commercial Vehicles Traton Group. During this visit, they engaged in comprehensive discussions with Christian Levin, who serves as both the Chairman and CEO of the Volkswagen Commercial Vehicles Traton Group and as the President and CEO of the Scania Commercial Vehicles Group. The focal point of these discussions revolved around the anticipated competitive dynamics and technological trajectories within the global commercial vehicle industry.

Christian Levin articulated, “Throughout the past year, our management teams have participated in numerous efficient and pragmatic visits and exchanges, resulting in the elevation of our cooperative relationship to unprecedented heights. We hold deep admiration for the accomplishments of the Sinotruk Group within the global heavy-duty truck market in recent years. The alignment of our industrial chain layouts presents mutually beneficial synergies, paving the way for extensive strategic cooperation opportunities. We eagerly anticipate the deepening of exchanges and collaboration within the realm of new technologies, with the overarching goal of achieving development that is mutually advantageous.”

Tan Xuguang asserted, “The Volkswagen Commercial Vehicles Traton Group has consistently served as a benchmark from which we derive invaluable insights. The longstanding successful collaboration between the Sinotruk Group and the MAN Truck & Bus Group in Germany spanning 15 years underscores our status as close strategic partners. Irrespective of past, present, or future, our alliance remains steadfast. We are resolutely committed to broadening cooperation across the comprehensive spectrum of ‘traditional energy + new energy’ and dual industrial chains, thereby facilitating win-win outcomes in the global arena of cooperation and competition.”

Tan Xuguang and his delegation conducted a tour of the intelligent heavy truck factory operated by the MAN Truck & Bus Group. Throughout the duration of the visit and ensuing discussions, Alexander Vlaskamp, Chairman and CEO of the MAN Truck & Bus Group, provided continuous accompaniment, offering insights and facilitating exchanges.

On May 22nd, 2024, Tan Xuguang presided over a strategic technology seminar held in Munich, facilitating collaboration between Weichai and the German engine technology consulting company, FEV. The seminar brought together experts from both FEV and Weichai headquarters, fostering extensive exchanges and discussions pertaining to product enhancements, competitive benchmarking, and future strategic planning.

Photo –
Photo –

Cision View original content:

Continue Reading

Latest News

2024 Blockchain Critical Trend: Unveiling New Financial and Development Opportunities in Southeast Asia




None Group, a leading blockchain group, today released its 2024 Blockchain Critical Trend report, providing a comprehensive overview of the blockchain ecosystem in Taiwan and Southeast Asia. The report highlights key trends, regulatory frameworks, and emerging opportunities for businesses, investors, policymakers, and technology enthusiasts.

Blockchain Critical Trend” released by None Group is now available for download.

Southeast Asia Emerges as a Global Financial Hub with Blockchain at the Forefront

Southeast Asia, with its unique financial landscape and over 400 million active internet users, has become a global financial hotspot, especially in the wake of the pandemic. Recognizing this opportunity, None Group has collaborated with strategy partners such as the Taiwan FinTech Association, Bitcoin Addict (Thailand), Coin98 (Vietnam), Coinvestasi (Indonesia), and Malaysia Blockchain Week to bring together 14 industry leaders to share their market insights and unveil exclusive investment opportunities.

To further promote cross-border collaboration between Southeast Asia and Taiwan, None Group will host blockchain trend release events in Vietnam and Taiwan. The Vietnam event will be held on June 5, while the Taiwan event is scheduled for July 10. These events will focus on industry trends and related blockchain topics.

Key Highlights of the 2024 Blockchain Critical Trend

The 2024 Blockchain Critical Trend report unveils the Southeast Asia blockchain landscape, covering various segments and project details. The report highlights three key takeaways:

  • Focus and Attitudes of Southeast Asian Governments
  • Expert Insights into the Industry Ecosystem
  • Cross-Border Collaboration Opportunities and Potential Explosion Points

Read the full 2024 Blockchain Critical Trend (TaiwanThailandVietnamIndonesiaMalaysiaSingaporePhilippines)

The post 2024 Blockchain Critical Trend: Unveiling New Financial and Development Opportunities in Southeast Asia appeared first on HIPTHER Alerts.

Continue Reading

Latest News




Operation aims to strengthen the Company’s financial position and maintain growth strategy

SAO PAULO, May 23, 2024 /PRNewswire/ — Oncoclínicas&Co (B3: ONCO3), a leading oncology company headquartered in Latin America, has announced that the enterprise has approved a capital increase of R$ 1.5 billion at a Board of Directors meeting held on May 22, 2024.

This capital increase complies with the ceiling established within the company’s Articles of Association and does not require any statutory change. The capital increase will be carried out through the issuance of 115.4 million new registered ordinary shares with no par value.

With this issuance, Oncoclínicas&Co strengthens its capital structure, significantly reduces leverage, and increases liquidity to continue to provide better access to advanced oncology treatments to cancer patients, achieve economies of scale, and optimize the costs associated,

Investors of the Quíron Multi-Strategy Equity Investment Fund (“Quíron”) and the Tessália Multi-Strategy Equity Investment Fund (“Tessália”), investment vehicles anchored by Banco Master, entered into an investment agreement with the company and committed to subscribe up to R$ 1 billion of new shares, to be issued by Oncoclínicas&Co.

In addition, founding shareholder and CEO Bruno Lemos Ferrari announced his intention to subscribe up to R$ 500 million worth of new shares.

“The capital increase significantly strengthens our capital structure and makes us even better equipped to take advantage of future growth opportunities, while continuing to provide exceptional quality care with an acute focus on our patients and their families,” emphasized Ferrari.

The terms of the capital increase provide for the issuance of new shares at a price of R$ 13.00 per share, representing a premium of 89% over the market value, based on a recent valuation by XP Finanças Assessoria Financeira Ltda. The funds raised will be used to reduce the company’s consolidated debt, improve its cash position, maintain its growth strategy, continue its organic expansion plans, and for general corporate use.

Josephina Multi-Strategy Equity Investment Fund and Josephina II Multi-Strategy Equity Investment Fund (together the “FIPs”), investment vehicles of Goldman Sachs, have agreed to transfer their respective preferential rights to the investors of Quíron and Tessália as part of the capital increase.

Daniel Vorcaro, President of Banco Master, emphasized that “…Healthcare is one of the markets with the greatest growth potential in Brazil in the coming years, whether in the pharmaceutical industry, primary care or high value-added services, arenas where Oncoclínicas&Co occupies a prominent position in Latin America. Being part of a company that is revolutionizing access to oncology treatments in the country, alongside Goldman Sachs, is a great opportunity and indeed a privilege for our company to undertake.”

According to João Padin, Vice President of Corporate Equity Investments at Goldman Sachs Asset Management, the transaction demonstrates the attractiveness and strength of Oncoclínicas&Co’s business model.

“The funds raised are important for continuing the growth strategy and strengthening the Group’s capital structure. In this way, Oncoclínicas&Co underlines the solidity of its business and its commitment to the quality of the services offered to patients,” he added.

The notice to shareholders is available on the Investor Relations website of Oncoclínicas&Co, the CVM website and the B3 S.A. website.

Oncoclínicas&Co reaffirms its commitment to transparency and corporate governance and will keep its shareholders and the market informed of the next steps in this capital increase process.

Note To Editors:

Last year alone, the company carried out more than 600,000 procedures and has expanded its service capacity in recent years to meet the growing demand for cancer treatment. Forecasts from cancer institutes around the world and in Brazil point to a significant increase in the disease over the next two decades, mainly due to an aging population. In Brazil, the National Cancer Institute expects more than 700,000 new cases per year in the period 2023-2025.

For further information, visit

View original content:

Continue Reading