JPMorgan Chase has launched its USD 3 billion, 60-story headquarters in Midtown Manhattan to strengthen employee recruitment and retention while setting a benchmark for global offices. The Park Avenue skyscraper can house 10,000 employees and features advanced technology, sustainable construction, and enhanced hospitality spaces, including a Michelin-starred vegan restaurant and an English-style pub. Over the past five years, the bank upgraded 125,000 workstations worldwide, with more planned. The project also underscores JPMorgan's economic contribution to New York City, Dimon's hands-on leadership, and the firm's focus on office-based work and employee experience.Read more

Malaysia's Energy Minister confirmed that the 2,000-MW offshore wind project connecting Vietnam, Malaysia, and Singapore aims to finish its first phase by 2034. The first phase will provide 700 MW for Malaysia's domestic use and export 1,300 MW to Singapore. The second phase will extend transmission lines from Vietnam to Peninsular Malaysia through Cambodia, Laos, and Thailand, but will be considered after evaluating energy needs and economic feasibility. The project reflects regional cooperation to expand renewable energy, strengthen cross-border electricity trade, and support Southeast Asia's growing power demand.Read more

Earlier this week, Uganda disclosed plans to borrow about USD 2.34 billion from multiple lenders, including the World Bank, Standard Chartered, and Citi, to fund crucial infrastructure projects. The financing will primarily support the construction of electricity transmission lines and roads in the oil-rich Albertine region. This large-scale borrowing aims to boost the country's energy and transport capacity but has triggered fresh debate over Uganda's rising public debt and its implications for economic stability and social spending.Read more

Dubai-based Property Finder has raised USD 250 million in debt financing from Ares Management to accelerate its growth in the Middle East. The funds will support product development, AI-driven solutions, marketing, and strategic partnerships, according to CEO Michael Lahyani. The platform, operating for nearly two decades, competes with Dubizzle and Bayut. The new funding comes after USD 90 million from Francisco Partners last year and a USD 525 million minority stake acquisition by Permira and Blackstone last month, highlighting ongoing investor confidence in Dubai's real estate sector.Read more

Beta Technologies, a Vermont-based electric aircraft manufacturer, is preparing for a US IPO with a valuation of around USD 7.22 billion. The company plans to issue 25 million shares priced between USD 27 and USD 33, aiming to raise up to USD 825 million. Despite reporting a net loss of USD 25.57 per share for the first half of the year, Beta has attracted strong interest from cornerstone investors, including Alliance Bernstein, BlackRock, Ellipse, GE Aerospace, and Federated, who may acquire up to USD 300 million in shares. The IPO will list on the NYSE under the ticker "BETA."Read more

Citi has appointed Roberto Costa and Federico Monguzzi as co-heads of its investment banking division in Italy. Costa, who currently heads Luxury Investment Banking at Citi, will expand his responsibilities to cover the overall investment banking business in the country. With 25 years of experience advising luxury and lifestyle sector clients, he joined Citi in 2017 from Mediobanca. Monguzzi, Head of Real Estate Investment Banking for the UK, Europe, and the Middle East, will now take on an additional role in Italy. He joined Citi in 2014 from Credit Suisse. Both will report to Patrick Frowein, Head of Europe Investment Banking at Citi.Read more

Hong Kong-based conglomerate Jardine Matheson recently announced that it would acquire the remaining shares of Mandarin Oriental that it does not already own, valuing the luxury hotel and management firm at about USD 4.2 billion. The 193-year-old group stated that full ownership would enable it to enhance Mandarin Oriental's growth and streamline its portfolio. The deal coincides with Mandarin Oriental's agreement to sell the top floors of its One Causeway Bay tower in Hong Kong to Alibaba Group and Ant Group for USD 925 million.Read more

Meta Platforms is finalizing a record-setting financing package of nearly USD 30 billion for its Hyperion data center in Richland Parish, Louisiana. The project will be co-owned with Blue Owl Capital, while Meta retains a 20% stake. Morgan Stanley has structured the deal through a special purpose vehicle, raising over USD 27 billion in debt and around USD 2.5 billion in equity. Meta will develop, operate, and occupy the facility, expected to be completed by 2029. Alongside this, Meta recently announced a USD 1.5 billion investment in a new data center in El Paso, Texas, further expanding its AI-focused infrastructure globally.Read more

First Industrial Realty reported a robust third-quarter profit, driven by active leasing and higher rental rates, even though revenue slightly fell short of analyst expectations. Funds from operations (FFO) per share rose to USD 0.76 from USD 0.68 year-over-year, prompting the company to raise its 2025 NAREIT FFO guidance to USD 2.94-2.98 per share/unit. Year-end occupancy is expected between 94% and 96%, with same-store net operating income projected to grow 7-7.5%. Leasing highlights included 772,000 sq. ft. of new agreements, strong rental rate increases, and growing tenant interest in key markets such as Phoenix and South Florida.Read more

China recently imposed sanctions on U.S. affiliates of South Korean shipbuilder Hanwha Ocean, aiming to influence South Korea's cooperation with Washington. The sanctions prohibit business transactions and partnerships with five U.S.-linked Hanwha entities, including Philly Shipyard, which repairs U.S. Navy ships and builds U.S.-flagged LNG carriers. The U.S. State Department described China's move as an attempt to interfere with private companies and disrupt U.S.-South Korea collaboration in shipbuilding and manufacturing. South Korea has committed up to USD 150 billion to support U.S. shipbuilding as part of trade negotiations to reduce import duties on South Korean goods.Read more