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Australia’s Macquarie sells 7.73mn shares, generates A$1.5bn

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Macquarie Group, an Australian investment bank and financial services company, has reportedly generated A$1.5 billion after fixing its share price at A$194.

On Friday, the firm launched the deal to sell up to 7.9 million shares. The Sydney-based company has posted more than doubled its first-half profit to A$2.04 billion.

The sources said that the firm sold 7.73 million shares at the price of A$194 in the bookbuild to meet its targeted amount of A$1.5 billion.

Macquarie chief executive Shemara Wikramanayake said with raising A$1.5 billion, Australia’s largest asset manager and the world’s biggest infrastructure investor’s stack of surplus capital will surge to almost A$10 billion.

According to Macquarie, it will also carry out a retail investor share purchase plan to generate an unspecified amount of funds.

According to a note published on the weekend, Citigroup increased Macquarie’s rating to a buy and enhance its target price for the stock by 13 percent following its first-half profit result.

The bank also said it would increase its forecasts for Macquarie’s earnings by 17 percent for 2022 and about 10 percent for the following two financial periods.

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What’s this WhatsApp feature everyone is talking about? Find out now

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WhatsApp has introduced an innovative new feature: voice message transcripts. This addition allows users to convert voice messages into text, making it easier to keep up with conversations no matter where you are or what you’re doing.

The feature is rolling out globally over the next few weeks, initially supporting a few select languages, with plans to expand language options in the coming months. In a blog post, WhatsApp highlighted the personal touch of voice messages, stating, “There’s something special about hearing your loved one’s voice even when you’re far away.” However, the company acknowledged that there are times when listening isn’t feasible, such as being in a noisy environment or receiving a lengthy message that’s difficult to hear.For those moments, WhatsApp now offers voice message transcripts.

These transcripts are generated directly on your device, ensuring that no one else — not even WhatsApp — can access your messages.To activate this feature, go to Settings > Chats > Voice Message Transcripts, where you can toggle transcriptions on or off and select your preferred language. Transcribing a message is simple: long-press the voice message and tap “Transcribe.”WhatsApp expressed enthusiasm about enhancing this experience further, promising to make it even more intuitive and user-friendly.

This update follows the introduction of the Message Drafts feature, which addresses a common issue: forgetting to send unfinished messages. WhatsApp now marks incomplete messages with a clear “Draft” label and moves the chat to the top of your list, ensuring you can quickly find and complete them without searching through multiple conversations.With these updates, WhatsApp continues to innovate and make communication more seamless and efficient for its users worldwide.

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Zimbabwe Partners with T Ten Global to Boost Business Opportunities

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The Government of Zimbabwe has entered into a strategic partnership with T Ten Global Sports to enhance the nation’s global profile and attract significant foreign investment. This initiative aligns with President Emmerson Mnangagwa’s vision of showcasing Zimbabwe as ‘Open for Business’ and leverages international platforms to highlight the country’s substantial economic potential.

With a viewership exceeding 500 million on television and OTT platforms, and a social media reach of 2.5 billion across 100 countries, T Ten’s cricket leagues offer Zimbabwe an unparalleled opportunity to promote its investment prospects. The partnership will officially be launched at the 2024 Abu Dhabi T10 in Abu Dhabi, positioning Zimbabwe as a premier destination for international business.

Speaking on the partnership, Zimbabwe President Emmerson Mnangagwa said“Zimbabwe is open for business, and this partnership with T Ten Global Sports is a testament to our commitment to engaging with the world. Through T Ten’s extensive reach, we will showcase Zimbabwe as a thriving hub for investment and innovation. This collaboration marks a significant step forward in building our nation’s global reputation and economic future.”

Under President Mnangagwa’s leadership, Zimbabwe has experienced notable economic growth. In 2023, Zimbabwe’s GDP was valued at $26.54 billion, reflecting a 4.5% growth rate from the previous year. The nation has also attracted significant investments across various sectors including the beverage industry, mining sector, real estate and infrastructure, renewable energy and agriculture modernization.

Varun Beverages, the bottling partner of PepsiCo, has invested over $40 million, creating employment opportunities and bolstering the manufacturing sector.  Zimbabwe is endowed with vast mineral resources, including lithium, platinum, gold, and diamonds. Investments from companies such as Zhejiang Huayou Cobalt and Prospect Resources are positioning Zimbabwe as a key player in the global green energy revolution.

UAE-based conglomerate Mulk International is developing the $500 million Zim Cyber City in Mount Hampden, Harare. This state-of-the-art mixed-use development is set to transform Zimbabwe’s real estate landscape, offering high-end residential and commercial spaces. Collaborations with international firms are underway to harness Zimbabwe’s abundant solar and hydropower resources, supporting sustainable energy solutions and reducing reliance on non-renewable sources. Partnerships with global agribusinesses have enhanced Zimbabwe’s agricultural output, ensuring food security and creating export opportunities.

Shaji Ul Mulk, Chairman of T Ten Global Sports further said“We are honored to partner with Zimbabwe to deliver this transformative vision. Through T Ten’s five global leagues, we will ensure that Zimbabwe’s message reaches key markets, connecting the nation with influential investors and creating new opportunities for growth and collaboration.”

There are numerous unparalleled opportunities for global investors in Zimbabwe across various sectors. The country is home to vast reserves of lithium, platinum, gold, nickel, and rare earth minerals, essential for the global renewable energy and technology industries. With a growing industrial base and favorable policies, Zimbabwe provides opportunities in food processing, automotive assembly, and consumer goods production.

Abundant sunshine and river systems make Zimbabwe ideal for large-scale solar and hydropower projects, attracting renewable energy investors globally. Rapid urbanization and modernization efforts create lucrative opportunities in construction, transport, and logistics.

Paul Tungwarara, Special Presidential Investment Advisor, UAE further said, “This partnership reflects Zimbabwe’s forward-looking strategy for international outreach. By leveraging T Ten’s global media presence, we will amplify the message that Zimbabwe is ready for business and global partnerships. It has been a privilege to contribute to this historic initiative.”

Through its collaboration with T Ten Global, Zimbabwe will gain exposure across the five cricket leagues’ (Abu Dhabi T10, US Masters T10, Lanka T10 Super League, African T10, Sri Lanka T10) influential markets. It allows the nation to engage audiences in the Middle East and Asia, and also target North America’s business leaders. The partnership further helps Zimbabwe in strengthening their presence in South Asia’s thriving markets and highlighting Zimbabwe’s leadership in Africa.

This partnership represents a bold step toward economic reform, global engagement, and solidifying Zimbabwe’s position as a premier investment destination.

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Resorts World Cruises Celebrates Maiden Sailing from Dubai

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Resorts World Cruises, the World-Class Cruise Line that Knows the Gulf Best had arrived in Dubai with the Resorts World One commencing her first sailing from 1 November 2024 onwards. The 1800-passenger cruise ship departs from the Port Rashid Cruise Terminal 2 in Dubai three times a week to the Gulf destinations.

A special celebratory event was held on the ship today with close to 600 invitees to commemorate this milestone event. Resorts World Cruises’ President, Mr. Michael Goh and its senior management welcomed onboard regional dignitaries, authorities, members of the press and key influencers. The port-stay event included a series of special memento presentations with invitees having the chance to experience the onboard LIVE performances, the wide array of cuisines and a guided ship tour of the ship’s accommodations, facilities and offerings.

As part of the inaugural sailing celebration, guests can look forward to special added-value promotions. This includes receiving complimentary Food & Beverage Onboard Credits valued at AED 700 or US$190 per cabin for sailings in November for both the 3-Night Oman Cruise and the 2-Night Qatar Cruise. During the deployment, the Resorts World One will provide exciting new vacation options from Dubai for the weekend with the 2-Night Sir Bani Yas Weekend Cruise departing Fridays. Guests can also look forward to the 2-Night Doha (Qatar) Cruise departing Wednesdays and the 3-Night Muscat-Khasab (Oman) Cruise departing Sundays. For longer cruises, guests may combine the itineraries to become a 4-, 5- and 7-Night cruise.

“We have been counting down the days and we are delighted that the Resorts World One has arrived in Dubai and is ready to sail. We would like to extend our sincere thanks to the local and regional governments, authorities, travel business partners, media and our guests for the support. We are looking forward to bringing unique experiences to the Gulf region and we are excited to launch our first cruise with a special onboard Diwali celebration for the entire week,” said Mr. Michael Goh, President, Resorts World Cruises.

Mr. Saud Hareb Almheiri, Cruise Tourism & Yachting Lead at the Dubai Department of Economy and Tourism (DET), said: “Dubai extends its warmest congratulations to Resorts World Cruises on the successful launch of its new services, which it is proud to be the homeport for. This significant development underscores Dubai’s ongoing growth as a premier cruise destination, attracting world-class operators, and providing exceptional experiences for global travellers seeking to explore the region, as envisioned by our leadership, and in line with the goals of the Dubai Economic Agenda, D33, to further consolidate Dubai’s position as a leading global city for business and leisure. As we embark on an exciting new season, we would like to extend our gratitude to our partners and stakeholders, whose unwavering support has made this possible. Together, we look forward to further reinforcing Dubai’s position as the cruise hub of the region.”

The Resorts World One is certified by the highly reputable Organisation of Islamic Cooperation and The Standards and Metrology Institute with the ship offering certified Halal cuisines, including vegetarian / Jain cuisine; and Muslim-friendly onboard offerings, which will provide peace of mind for Muslim guests from the Gulf and across the region.

For more information or bookings, please visit www.rwcruises.com or email to enquire@rwcruises.com or contact your local travel agent.

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