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The $10 Billion Mega-Airport Financing Partnership Between Ethiopian Airlines and African Development Bank Takes Off

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Airport

Ethiopia’s ambition to build a new international airport that will rival some of the world’s biggest, took off on Monday with a monumental signing ceremony marking the African Development Bank’s role (www.AfDB.org) as the initial mandated lead arranger, global coordinator and book runner to mobilize nearly $8 billion of the $10 billion needed for the mega project.

The Bank plans to provide financing of $500 million, subject to Board approval.

The mandate letter was signed by Ethiopian Airlines Group Chief Commercial Officer Lemma Yadecha and the President of the African Development Bank Group Dr. Akinwumi Adesina, in the presence of Ethiopia’s Minister of Finance, Hon. Ahmed Shide.

Other guests at the ceremony included Ethiopian Airlines Group Board Chair Hon. Lt General Yilma Merdessa, Malawi’s Minister of Finance and Economic Affairs Simplex Chithyola, South Sudan’s Ambassador to Ethiopia Boutros Thok Deng, the Democratic Republic of Congo’s Chargé d’affaires in Ethiopia Exkael Kabongo, his Togolese counterpart Thomas Deji, and Zambia’s Nawa Sibongo.

Located 40 kilometers south of Addis Ababa, the new greenfield Bishoftu International Airport (BIA) will have an initial capacity of 60 million passengers, eventually expanding to 110 million, and transport 3.73 million tons of cargo annually.

“The African Development Bank is proud to partner with Ethiopia in its vision to expand the operational and fleet capacity of the Ethiopian Airlines,” Adesina said, praising Ethiopia for putting “Africa at the top in global aviation.”

“With its 75 years of operational history, Ethiopian airlines is Africa’s oldest and best airline. It is critical for regional economic integration, connecting capitals, people and markets, with its globally rated cargo facilities,” the Bank Group chief said.

Ethiopian Airlines Group CEO Mesfin Tasew, who was represented at the signing ceremony by Chief Commercial Officer Yadecha said, “The signing of this mandate letter marks a decisive step toward realizing a world-class pan-African gateway that will boost intra-African trade, regional integration, tourism, and global connectivity.”

Groundworks are expected to begin late 2025, with Phase I expected to be completed by November 2029. The multi-billion-dollar project will include an airport city with facilities such as shopping malls, hotels, recreation areas, as well as direct rail and expressway links to Addis Ababa.

Adesina, making his last official visit to Ethiopia, praised the “visionary leadership” of Ethiopia’s Prime Minister, Abiy Ahmed, who he noted is transforming the country “every hour, every day, every week, at scale. Speed and scale are now the hallmarks of Ethiopia.”

The African Development Bank is proud to partner with Ethiopia in its vision to expand the operational and fleet capacity of the Ethiopian Airlines

He summed up the financing partnership between Ethiopian Airlines and the Bank as a fitting one between Africa’s largest airline—with an especially noteworthy record of supporting the global response to the Covid19 pandemic—and the continent’s biggest infrastructure financier, to deliver a “game changer” for African and global aviation.

“In the past ten years under my Presidency, the Bank has financed over $55 billion in infrastructure,” Adesina said, pledging to “do all we can to support Ethiopia to achieve its dream.” He noted that the African Development Bank in 2016 extended a $160 million corporate loan to support the modernization and expansion of Ethiopian Airline’s fleet.

“I wish to assure you that the African Development Bank will deliver, so that this project can be delivered by Ethiopia for its people,” said Adesina.

The Ethiopian Airlines Group and the African Development Bank signed a Letter of Intent on 24 March 2025 to partner for the financing of this flagship project.

The Bank has a track record of responsibly structuring and mobilizing financing from commercial banks, development finance institutions, and institutional investors for structured projects across the continent.

It supports several transformative infrastructure projects as a mandated lead arranger, including the Aysha Wind Power Project in Ethiopia and the Tanzania-Burundi-DR Congo Standard Gauge Railway Project.

Over the years, the Bank has successfully executed debt-raise mandates for limited-recourse infrastructure projects as well as state-owned transport companies such as Transnet, Portos e Caminhos de Ferro de Moçambique, and Ghana Airports Company.

The Bishoftu International Airport will serve international passenger and cargo traffic, complementing Bole International Airport, which will retain Ethiopian’s domestic operations.

Ethiopian Airlines hub-and-spoke network, with subregional hubs, is driving connectivity across Africa and with the rest of the world.  With the planned airport, the speed, frequency and scale of connections for people, goods, and services is set to increase significantly. The expansion is also in line with one of the African Development Bank’s High 5 priorities, which is to Integrate Africa by breaking down barriers, building cross-border links, and enabling African economies to trade, travel, and thrive together in a globally competitive environment.

Ethiopian Airlines Group, Africa’s most successful airline, with more than 75 years of operational history, is the seven-time consecutive winner of Skytrax’s ‘Best Airline’ in Africa’ award. In the fiscal year ending 30 June 2025, the airline reported record revenues of $7.6 billion, reflecting an 8% year-on-year growth. It transported 19.0 million passengers, with 15.1 million on international routes and 3.9 million within the country.

The company has allocated a total of $350 million for livelihood restoration and resettlement of communities that will be affected by the construction.

To read President Adesina’s speech, click here (https://apo-opa.co/3UtVYBL).

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Frasers Hospitality unveils Fraser Suites Reserve, a new luxury serviced living brand

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Fraser Suites Reserve Bangkok starts welcoming guests at One Bangkok in December 2026
SINGAPORE – Media OutReach Newswire – 22 September 2026 – Frasers Hospitality, a business unit of Frasers Property, today announced Fraser Suites Reserve, a new luxury serviced living brand created for discerning global travellers seeking the privacy, ease and familiarity of home while away, complemented by the service and standards of luxury hospitality.

Building on Frasers Hospitality’s longstanding expertise and established track record in extended stays, Fraser Suites Reserve addresses a distinct segment at the luxury end of the market. Its introduction further sharpens the company’s portfolio of clearly differentiated brands.

 




 
 

“Fraser Suites Reserve represents the next strategic step in strengthening our portfolio,” said Eu Chin Fen, Chief Executive Officer, Frasers Hospitality. “It draws on our experience in long stays, while responding to the evolving expectations of an increasingly sophisticated segment of travellers accustomed to the world’s finest hospitality.”

Time for what matters

Fraser Suites Reserve is anchored in the belief that time is the ultimate luxury for today’s global professionals. Each property brings together refined design, intuitive service, curated wellness and lifestyle experiences intended to make life away from home easier, leaving guests free to focus on what matters most, whether their work, wellbeing, relationships or personal pursuits.

Designed as private sanctuaries within the city, its rooms are designed to offer privacy and calm. Many feature integrated kitchenettes, allowing guests to maintain familiar routines of home while away, an independence that becomes particularly valuable during longer stays. The experience is complemented by the discreet yet highly personalised service of luxury hospitality.

Beyond the rooms, guests can enjoy distinctive dining concepts, wellness and leisure experiences on property, as well as Club Frasers, a private lounge designed for conversation, connection and curated experiences.

“For guests accustomed to the highest standards, luxury service gives the assurance that every detail has been carefully thought through and every need understood,” said Chew Hang Song, Chief Operating Officer, Frasers Hospitality. “With Fraser Suites Reserve, this means providing an experience that feels immediately familiar and deeply human, supported by service that is warm and intuitive, yet respectful of their privacy.”

Wellbeing, made part of everyday

Holistic wellbeing is integrated into the Fraser Suites Reserve experience. At Fraser Suites Reserve Bangkok, the House of Rejuvenation will offer a dedicated environment for recovery and renewal, pairing therapist-led treatments with advanced wellness facilities such as thermal pools, cold plunges, compression therapy, dry flotation and red-light therapy.

Guests will also have access to The Wellness Edit, Frasers Hospitality’s proprietary global wellness programme. Through simple, repeatable everyday rituals that can be incorporated naturally into a guest’s stay, the programme is designed to integrate wellbeing with simple gestures, making wellbeing easier to sustain even amid demanding schedules and frequent travel.

Global debut at One Bangkok

Fraser Suites Reserve Bangkok, the brand’s first property, will begin welcoming guests in December 2026 as part of a phased opening. Its grand opening is planned for March 2027 when the complete range of facilities and experiences will be available.

The 255-room property will occupy the top ten floors of a 45-storey premium office and retail tower at One Bangkok, located right in the heart of Bangkok at the intersection of Rama IV Road and Wireless Road, with panoramic views of the Bangkok skyline and Chao Phraya River with easy access to Bangkok’s dining, entertainment and cultural attractions. Further details to be announced in the coming months.

Find out more about Fraser Suites Reserve at frasershospitality.com/en/our-brands/fraser-suites-reserve/

NOTE:
For more information, please visit www.frasershospitality.com.

About Frasers Hospitality
Frasers Hospitality is a leading investor-operator within the lodging sector, backed by 28 years of proven expertise. Frasers Hospitality specialises in optimising and managing hospitality assets to deliver sustainable value for its stakeholders. As a business unit of Frasers Property Limited, its presence spans Asia Pacific, Europe, the Middle East and Africa.

With a diversified portfolio of over 100 lodging assets across geographies and segments, Frasers Hospitality offers a comprehensive end-to-end ecosystem of bespoke lodging expertise and solutions to maximise performance, value and growth for its partners across the real estate value chain. Frasers Hospitality is a trusted expert and preferred partner within the lodging sector with a proven track record and a business model optimised to deliver value.

Frasers Hospitality is distinguished by its style of hospitality from their progressive mindset that fosters innovation and matched with an award-winning brand portfolio tailored to new ways of travelling, living and socialising. Recognised globally for our commitment to hospitality excellence, Frasers Hospitality has earned numerous industry accolades and awards, showcasing its leadership in delivering exemplary, quality services, and curating memorable, life-enriching experiences for its guests and residents – by people, for people.

For more information on Frasers Hospitality, please visit www.frasershospitality.com or follow us on LinkedIn.

About Frasers Property Limited
Frasers Property Limited (“Frasers Property” and together with its subsidiaries, the “Frasers Property Group” or the “Group”) is an integrated investor-developer-operator of real estate products and services. Listed on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) and headquartered in Singapore, the Group has total assets of approximately S$40.0 billion as at 31 March 2026.

Frasers Property operates across five asset classes: industrial & logistics, retail, commercial & business parks, residential and hospitality. Its businesses span Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in 20 countries.

The Group is the sponsor of real estate investment trusts (“REITs”), Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust, listed on the SGX-ST, as well as Frasers Property Thailand Industrial Freehold & Leasehold REIT and Golden Ventures Leasehold Real Estate Investment Trust, listed on the Stock Exchange of Thailand.

Guided by its purpose of inspiring experiences and creating places for good, the Group promotes an ESG framework that supports long-term value creation through focus areas such as transparent governance, sustainable finance, inclusive communities and reducing its carbon emissions. Frasers Property aims to deliver lasting shared value for its customers, people, investors and communities, while fostering a progressive, collaborative and respectful culture.

For more information on Frasers Property, please visit frasersproperty.com or follow us on LinkedIn.
 




 

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Energy

Building a Knowledge Hub for China-ASEAN Energy Cooperation

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NANNING, CHINA – Media OutReach Newswire – 21 September 2026 – During the 23rd China-ASEAN Expo and the China-ASEAN Business and Investment Summit, China Southern Power Grid showcased a range of innovations designed to support energy cooperation between China and ASEAN. These included the DaWatt – Lao Language Large Language Model (LLM) for the Energy and Power Sector V2.0 and the Flexible Grayscale Intelligent Monitoring & Analysis Platform for power system cybersecurity, highlighting expanding opportunities for cooperation in digitalization, intelligent technologies and green energy.

The Lao-language LLM has been deployed at Electricité du Laos Transmission Company Limited (EDL-T), where it can automatically analyze thousands of inspection images within a short period of time. After its algorithms were optimized for Laos’ mountainous and rainforest terrain, the model completed intelligent inspection analysis for four transmission lines, processing 26,000 drone inspection images and identifying more than 3,600 equipment defects.

 




 
 

Liu Ying, general manager of the Digitalization Department at Guangxi Power Grid Co., Ltd., said the company has been building multilingual professional corpora for the power sector, covering ASEAN countries including Laos, Vietnam and Malaysia. Drawing on the capabilities of the DaWatt foundation model, the company is developing energy and power models tailored to ASEAN languages and real-world power industry applications.

Talent development is another focus of the cooperation. The China-ASEAN Institute of Energy, jointly established by Guangxi Power Grid Co., Ltd. and Guangxi University, is exploring an industry-university training model with a strong emphasis on practical experience. So far, two cohorts totaling 53 students from ASEAN countries have enrolled.

Cooperation is also evolving from one-way training toward joint innovation. Guangxi Power Grid Co., Ltd. and the Royal Academy of Cambodia have jointly established a laboratory for artificial intelligence and safety equipment, while the company has also launched peer-to-peer exchanges with Electricité du Laos on improving power supply reliability.

To address language barriers in cross-border technical exchanges, Guangxi Power Grid Co., Ltd. has developed an AI-powered translation platform backed by a specialized database containing terminology for more than 1,800 types of power equipment. The platform supports accurate translation between Chinese and English, Chinese and Lao, and Chinese and Vietnamese.

At a recent training program for Chinese and overseas engineers, the system supported one-click generation of bilingual course materials and real-time speech translation, helping participants navigate highly specialized power-sector terminology.

To support regular international exchanges, Guangxi Power Grid Co., Ltd. has also established an international talent pool covering management, technical and skilled personnel. It has developed 24 hours of courses on international affairs as well as 20 short-form video courses.

“This year, we will also explore joint postgraduate programs with universities in ASEAN countries,” said Sun Xiaohua, deputy director of the Human Resources Department at Guangxi Power Grid Co., Ltd.

Looking ahead, Guangxi Power Grid Co., Ltd. plans to further advance a development model featuring “R&D in Beijing, Shanghai and Guangdong, integration in Guangxi, and application in ASEAN.” The company will continue expanding its multilingual power-sector corpora and explore a “Token Goes Global” model for power-sector AI, with computing resources and models based in Guangxi while knowledge services are delivered overseas. The effort is aimed at creating new forms of China-ASEAN energy cooperation and supporting the green development of the China-ASEAN Free Trade Area 3.0.
 




 

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Events

24th Sichuan Guangwu Mountain International Red Leaf Festival to Showcase Asia’s Spectacular Autumn Colors

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BAZHONG, CHINA – Media OutReach Newswire – 21 September 2026 – The 24th Sichuan Guangwu Mountain International Red Leaf Festival will run from October 1 to November 18 at the Guangwu Mountain Tourism Area in Bazhong, Sichuan Province, China.

Located in southwest China, Guangwu Mountain boasts a forest coverage rate of 97%, earning its reputation as a “natural oxygen bar.” Each autumn, 680 square kilometers of mountain forests burst into a dazzling palette. Over 40 tree species, including Fagus pashanica, maples and lindens, weave the mountains into a stunning autumn landscape.

Known as “Asia’s longest natural red carpet,” the Mountain has become a top autumn destination for backpackers, photographers and travelers seeking immersive cultural and nature experiences, and is widely recognized as one of western China’s signature autumn attractions.

 




 
 

The tourism area caters to international visitors who prefer slower-paced, in-depth, off-the-beaten-path travel. The new Yanziling Loop Boardwalk, launched in May 2026, winds along mountain cliffs, with a sea of clouds rolling beneath visitors’ feet and brilliant foliage unfolding alongside the trail, creating the feeling of “stepping into a painting.”

Guangwu Mountain offers a wealth of outdoor attractions. Highlights include the 1,888-meter Red Leaf Coaster and a glass water slide certified by Guinness World Record, combining thrilling experiences with stunning natural scenery.

The large-scale immersive production “New Dream of Guangwu Mountain” integrates cutting-edge light and visual technology with Bashan folklore and traditions, transforming the forest into an atmospheric nighttime experience. Visitors can also enjoy welcome performances and interactive robot activities, which offer more ways to discover the mountain’s late-autumn charm.

A major highlight of this year’s festival is the newly completed Micang Avenue. Stretching 85 kilometers, the route connects seven core scenic spots, including Guangwu Mountain, Micang Mountain, and Nuoshui River, reducing a four-hour drive to just one hour. Lined with continuous stretches of colorful forest and layered peaks, the avenue brings brand-new travel experiences for autumn foliage enthusiasts.

The festival will also feature cultural, sports and international exchange activities, including the third season of the “Sending You a Red Leaf” campaign, the China Micang Avenue International Road Cycling Race, and the “World Red Leaf Landmark” global collection campaign.

In addition, 31 scenic attractions and 18 museums and cultural venues across Bazhong will provide special ticket offers and visitor benefits during the festival.

Across mountains and seas, Guangwu Mountain invites visitors from around the world to witness one of China’s most vibrant red-and-gold autumn displays.
The issuer is solely responsible for the content of this announcement.
 
 




 

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