Day: September 30, 2022

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The 13th International Infrastructure Investment and Construction Forum Concludes in Macao with Aggregate Investment Value of US$15 billion Cooperation Agreements Signed

MACAO, Sept. 30, 2022 /PRNewswire/ — The two-day 13th International Infrastructure Investment and Construction Forum (“IIICF”, “the Forum”), co-organized by China International Contractors Association and Macao Trade and Investment Promotion Institute, successfully concluded in Macao on September 29. Forty-one events were held at this year’s Forum, attracting more than 1,300 leaders and executives from over 600 organizations including governmental agencies, financial institutions, contractors and companies on the industry chain from around the world who participated in the Forum onsite, as well as over 500,000 visitors who watched the live video stream of the Forum online.

The 13th International Infrastructure Investment Construction Forum Concludes in Macao.

As the most influential annual exhibition in the global infrastructure investment and construction sector, the Forum has achieved fruitful results in promoting international cooperation and business matchmaking. Some 210 business meetings and matchmaking activities were held during the Forum, which led to the signing of 19 cooperation agreements on housing and infrastructure projects in Hong Kong, iron ore projects in Kazakhstan, photovoltaic power plants in Argentina, and hydroelectric power plants and supporting transmission and substation projects in République démocratique du Congo, with an aggregate investment value of US$15 billion, an increase of 550 percent over last year. The exhibition area of the Forum was expanded by 20 percent compared with the previous edition, focusing on the exhibition of new technologies, products and services of the industry and leaders in related industries.

At the Forum, the Belt and Road Infrastructure Development Index (2022) and the Belt and Road Infrastructure Development Index Report (2022) were issued. The “Mechanism for International Sustainable Infrastructure Promotion” was launched, while Huawei released the “Smart Road Partner Go Global Program” and the Smart Highway White Paper, detailing Huawei’s comprehensive solutions to the international community for investment in as well as construction, operation and management of smart highways.

Fang Qiuchen, Chairman of the China International Contractors Association (CHINCA), said that the forum will further strengthen cooperation among all parties involved and expand the space for international cooperation, both of which are of great significance to the furthering of the Belt and Road initiative, the implementation global development initiatives and the facilitation of the build-out of a community of human destiny.

For more information, please visit http://en.iiicf.org/.

Photo – https://mma.prnewswire.com/media/1911840/image_5013326_30100716.jpg

 

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Madison Newbond Hotel Lending Platform Originates $20 Million Loan for the Balfour Hotel in Miami Beach

NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) — Madison Newbond, the institutional lending platform of Madison Realty Capital and Newbond Holdings that provides first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide, today announced that it has provided a $20 million loan to FullG Capital’s equity sponsorship group for the acquisition of the Balfour Hotel Miami Beach (the “Balfour”), an independent boutique hotel located at 350 Ocean Drive in Miami Beach, Florida.

Located within Miami’s famed South Beach Art Deco District and situated less than one block from the beach, the Balfour contains 82 guestrooms across two towers, as well as an upscale restaurant and bar, an outdoor plunge pool, complimentary beach services, and approximately 1,300 square feet of rooftop terrace space. The hotel is managed by Driftwood Hospitality Management under a third-party hotel management agreement.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “Miami is no longer just a top destination for domestic and international leisure travel, but has rapidly become a growing hub for corporations and financial firms seeking to relocate their headquarters. We are pleased to provide a flexible financing solution to facilitate the acquisition of a superbly well-located hotel in one of the most liquid and dynamic hospitality markets in the country.”

Drew Coles, President of FullG Capital said, “Madison Realty Capital is a highly experienced lender in the Miami hospitality market with a reputation for certainty of execution. We are thrilled to leverage Madison Newbond’s attractive financing capabilities to complete the acquisition of the Balfour.”

Neil Luthra, Founding Partner at Newbond, added, “Madison and Newbond’s extensive operating experience enables us to efficiently underwrite hospitality lending opportunities and provide borrowers with a reliable financing partner in today’s choppy credit environment.  The Balfour perfectly exemplifies this, and we are excited to work with the FullG Capital team to bring their business plan to life.”

Madison Realty Capital has significant experience investing in hotel and luxury condominium developments in Miami and across South Florida. Notable transactions include an $85 million loan to The Related Group, BH Group, Teddy Sagi’s Globe Invest, and Wanxiang Group Corporation for the acquisition and pre-development of a luxury condominium project on Fisher Island in Miami Beach, a $76 million loan to The Related Group for the development of District 225, a 343-unit luxury condominium project in Miami, a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale, and a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami.

Madison Newbond launched in November 2021 with approximately $500 million of initial lending capacity and has plans to add scale in line with existing opportunities.

 

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of August 31, 2022, manages approximately $9.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $21 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been named to Commercial Observer’s prestigious “Power 100” list of New York City real estate players. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

About Newbond Holdings

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms. The partners at Newbond have completed over $15 billion of debt and equity transactions. As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com
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Pakistan Railways decides to partially restore passenger train operation for Karachi

The Pakistan Railways has decided to partially restore passenger train operation for Karachi in phases from second of next month to minimize the difficulties of passengers.

This decision was taken in a meeting presided over by Railways Minister Khawaja Saad Rafique through video link from the Ministry of Railways today (Friday).

Three more trains including Karachi Express, Karakoram Express and Pak-Business Express trains will also restart journey between Lahore and Karachi from 5th of next month. These trains will complete journey in about 22 hours initially, however, these trains will run with additional coaches to facilitate the maximum possible passengers.

 

Source: Radio Pakistan

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PAF vigorously pursuing relief activities in flood-hit areas

Pakistan Air Force (PAF) is vigorously pursuing relief and rehabilitation activities in flood-affected areas of Khyber Pakhtunkhwa, Sindh, Balochistan and South Punjab.

According to PAF spokesperson, much needed medical assistance is being provided to flood victims at medical camps and through mobile medical teams.

PAF Medical Lab Collection Points are also actively involved in diagnosis of water-borne diseases amongst flood affectees.

The PAF personnel have also rescued people stranded at their flooded homes and shifted them to safer locations by utilizing transport fleet, helicopters and boats.

Dry ration, cooked food, fresh drinking water and other household items were also distributed amongst the flood-affected people.

 

Source: Radio Pakistan

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Soldier embraces martyrdom in terror attack from inside Afghanistan in Kharlachi Kurram

A soldier embraced martyrdom when terrorists from inside Afghanistan across the international border, opened fire on Pakistani troops in Kharlachi are of Kurram District on Thursday.

According to ISPR, Pakistani troops responded in a befitting manner and terrorists suffered heavy casualties.

However, during the fire exchange, Sepoy Jamshed Iqbal having fought gallantly, laid down his life in defence of the motherland.

Pakistan strongly condemns the use of Afghan soil by terrorists for activities against Pakistan and expects that the interim Afghan Government will not allow conduct of such activities, in future.

Pakistan Army is determined to defend Pakistan’s borders against the menace of terrorism and such sacrifices of our brave soldiers further strengthen our resolve.

 

Source: Radio Pakistan

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China announces over $90mln assistance so far for Pakistan: Nong Rong

China’s Ambassador to Pakistan Nong Rong has reaffirmed his government’s continued support to Pakistan to help flood affected people.

In a video statement on Friday, he said since the devastating floods occurred in Pakistan, among all countries, China has announced over 90 million dollars assistance for Pakistan.

He said the announced assistance is the biggest till dates. He said China stands with Pakistan.

 

Source: Radio Pakistan

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Bombardier Introduces Innovator, Investor and F1 Team Owner Toto Wolff as Worldwide Brand Ambassador

Bombardier Introduces Innovator, Investor and F1 Team Owner Toto Wolff as Worldwide Brand Ambassador

Bombardier Introduces Innovator, Investor and F1 Team Owner Toto Wolff as Worldwide Brand Ambassador

MONTREAL, Sept. 29, 2022 (GLOBE NEWSWIRE) — Bombardier today introduced Toto Wolff as its worldwide brand ambassador. For many years, Toto has turned to Bombardier jets to quickly, efficiently and smoothly travel between business and motorsport engagements around the world. With this longstanding experience in hand, Toto will support Bombardier through a range of activities and touchpoints.

“Toto is a visionary leader and entrepreneur who embodies the spirit of innovation, excellence, performance and competitiveness that have all become synonymous with Bombardier business jets around the world,” said Éric Martel, President and CEO, Bombardier. “We are particularly proud that Toto’s discerning eye and quality-driven mindset have led him to deepen his ties with Bombardier through this agreement. We look forward to showcasing our capabilities and continuing to promote the Bombardier brand around the world.”

“As a full-range Bombardier customer for over 15 years starting with the Learjet and Challenger Series through to the Global 6000, I appreciate and admire the exceptional level of quality and ceaseless innovation Bombardier stands for,” said Toto Wolff. “Bombardier shares my drive for high-performance, often facilitating it, and I’m looking forward to drawing on my experiences as I represent this fantastic brand around the world”.

Toto will support Challenger and Global business jet products—including the latest, sustainably designed, Challenger 3500 super midsize jet, and the performance leading Global 8000 flagship aircraft—as well as innovative initiatives, such as the recently unveiled Bombardier’s EcoJet Research Project. Toto will also serve to highlight Bombardier’s expanding worldwide service center network, which recently celebrated significant growth milestones in Singapore and Melbourne, Australia, and is poised for further inaugurations this year alone in London, UK and Miami, Florida. More specifically, Toto will focus ambassadorial duties around the service network’s turnkey refresh, refurbishment and upgrade offerings that are now available in more geographies, following facility openings and enhancements.

About Toto Wolff

Toto Wolff is Team Principal, CEO & co-owner of the Mercedes-AMG PETRONAS F1 Team. A former racing driver turned investor, Toto started his career by founding a tech-focused venture capital firm in Austria. He entered F1 with an ownership stake in the Williams F1 Team in 2009, before acquiring a 30% stake in the Mercedes-Benz works team in 2013. Toto has led the team, featuring the most successful F1 driver of all-time, Lewis Hamilton, to unprecedented heights, becoming the most successful sports team in the world based on consecutive world championships.

About Bombardier
Bombardier is a global leader in aviation, focused on designing, manufacturing, and servicing the world’s most exceptional business jets. Bombardier’s Challenger and Global aircraft families are renowned for their cutting-edge innovation, cabin design, performance, and reliability. Bombardier has a worldwide fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments, and private individuals. Bombardier aircraft are also trusted around the world in special-mission roles.

Headquartered in Montréal, Québec, Bombardier operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. The company’s robust customer support network includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Italy, Austria, the UAE, Singapore, China, and an Australian facility opening in 2022.

For corporate news and information, including Bombardier’s Environmental, Social and Governance report, visit bombardier.com. Learn more about Bombardier’s industry-leading products and customer service network at businessaircraft.bombardier.com. Follow us on Twitter @Bombardier.

Bombardier, Learjet, Challenger, Global and Global 8000 are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.

For Information
Mark Masluch
Senior Director, Communications
Bombardier
+1 514 855 7167

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13ccfb40-d1a3-440e-919e-655db79b4f68


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