Shifting Tides in Phnom Penh – The Diplomat

Chinese smart EV manufacturer XPENG has entered the Indonesian market with plans for local production by the second half of 2025, focusing on the X9 and G6 models tailored for the right-hand drive market. The company aims to leverage local supply chains and partnerships to establish a strong presence in Indonesia and other APAC markets, showcasing AI-driven innovation and high-performance driving in its product lineup. XPENG, known for its advanced driver-assistance system technology, is expanding...

When South Korean soccer player Son Jun-ho signed with a Chinese club, he symbolized China's ambition in the sport, but after being detained by Chinese police and pressured into signing a confession for bribery and match-fixing, he became a victim of China's legal system. Son, who maintained his innocence, was coerced into admitting guilt under duress, showcasing the use of plea leniency in China's justice system, which has been criticized for being unfair and lacking...

Prada is in advanced talks to acquire Versace from Capri Holdings for around €1.5 billion, potentially combining two iconic Italian luxury fashion brands. The negotiations have been prolonged due to Capri's initial asking price of €3 billion and interest from other buyers, but a deal could be finalized soon. Prada, Italy's largest luxury fashion group, is open to acquisitions as it prepares for a generational shift, with the potential purchase of Versace adding a different...

South Korean flagship line HMM continues its expansion with the purchase of the 2014-built newcastlemax Oriental Dragon from Hebei Ocean Shipping Co for $49.2m, following previous acquisitions like the Global Enterprise and potential bids for SK Shipping's assets. Imabari Senpaku and Valhal Shipping are also parting with capesize vessels for $31m and $29.9m, respectively, as HMM aims to significantly increase its container, tanker, and dry bulk fleets by 2030 with a massive investment of KRW23.5trn....

Stagwell reported a strong performance in Q4 2024 with a 10% organic net revenue increase, totaling $629.6 million, and a net income of $15.8 million, down from the previous year. Despite a full-year net revenue increase of 5.2% to $2.3 billion, net income decreased to $25 million. The company's chairman and CEO, Mark Penn, highlighted 2024 as a breakthrough year, mentioning significant acquisitions, client wins, and leadership changes within their PR agencies. Full Article

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