Category: 3. Business

The ASEAN+3 Economic Cooperation and Financial Stability Forum, or AMRO Forum, is a platform for regional and global exchange of knowledge and ideas on economic cooperation and financial stability.

In its fourth edition, AMRO will co-organize the forum with the Hong Kong Monetary Authority (HKMA) and Bank for International Settlements (BIS), with a common goal of achieving macroeconomic and financial resilience and stability for the region.

This year’s theme is Fragmentation to Resilience: Macro-financial Stability and Regional Integration in ASEAN+3. The ASEAN+3 region is faced with challenge of safeguarding financial stability and strengthening macro-financial resilience while sustaining long-term prosperity. Although ASEAN+3 has made substantial progress in economic and financial cooperation over recent decades, the current global transformation demands even higher degree of collective action to navigate the changing international order.

The forum will discuss the near-term risks and challenges to the region’s macro-financial stability and outlook, and present solutions and initiatives to promote its medium to long-term economic growth journey. There will be two sessions, comprising keynote speeches and panel discussions.

Join us online on November 25, 2025!

REGISTER NOW

102.3 million in 2024, 37 offices and a £200 million target by 2030: Écija’s rise amid AI and investors

by mercedes galán

The legal sector is experiencing a moment of accelerated transformation, driven by digitalization, artificial intelligence and the entry of external capital in some firms. In this context, Hugo Écija, founder and chairman of Écija Abogados, sets out his model: business structure with separation between capital, management and service provision, intensive adoption of technology and an internal culture oriented towards continuous adaptation.

“I started my firm at 26, and today I am 53. I have dedicated more than half of my life to this project, which has been vital, with vision and always evolving,” recalls Écija, who founded his firm in Madrid in 1997.

ORIGIN
With the start of the new century, Écija decided to structure the firm as a limited company, separating capital, management and service provision, and focused on then-emerging areas such as audiovisual law and intellectual property. “Lawyers were at once owners, managers and those who contributed capital. Everything was mixed. I came from doing an MBA, from working in the U.S., and I asked myself: why did lawyers have to do everything?” he explains.
That business approach, unusual in Spanish legal practice in the late 1990s, made a difference. “Innovation is not only technological: law firms are companies that must adapt to the social, cultural and technological environment. Those that do not, die. And the speed of adaptation today is vital,” he comments.

ARTIFICIAL INTELLIGENCE

…

I booked a Tui river cruise package in Switzerland with flights provided by British Airways.

On the day we were to return home, we discovered our flight had been cancelled. There were about 40 people affected.

BA eventually booked us on to a flight leaving 36 hours later, but has refused to pay us the £220 compensation each due under EC regulations.

It says adverse weather was to blame and is exempted from compensation rules.

I requested a formal confirmation of the cancellation to submit to my travel insurer and, on that form, BA claims “operational reasons” were the cause. Unlike adverse weather, this is not covered by the insurance policy.

AC, Alfreton, Derbyshire

This is outrageous behaviour from a company that once considered itself “the world’s favourite airline”. You can’t get compensation from BA because, it says, bad weather grounded the flight, and you can’t get compensation from the insurer because the airline claims it was an operational issue.

The difference is critical. Airlines are obliged to pay set sums of compensation for delayed or cancelled flights under regulation EC 261/2004. They can only get out of it if the disruption was caused by “extraordinary circumstances”.

The regulation is vague on what these circumstances might be, but years of court rulings have honed the list down. Undefined “operational issues” would not be considered an excuse to avoid a payout; weather sometimes is, but only if it is exceptional and unexpected.

So which was the cause? Both, says BA, hedging its bets. It claims bad weather that had disrupted previous flights had displaced crew, and that had had a knock-on effect on your journey.

It ignored my questions about the whens, wheres and hows but that’s immaterial. “Knock-on” effects of bad weather are not an excuse to withhold compensation, according to the law firm Bott & Co.

BA insisted it couldn’t comment further because, by then, your case was in the hands of its dispute resolution service, CEDR.

This sounded to me like stalling tactics. I pointed this out and suddenly it stumped up. Since the money had to be prised out of it, I fear the other affected passengers may still be empty-handed.

We welcome letters but cannot answer individually. Email us at consumer.champions@theguardian.com or write to Consumer Champions, Money, the Guardian, 90 York Way, London N1 9GU. Please include a daytime phone number. Submission and publication of all letters is subject to our terms and conditions.

By Maitane Sardon

   Fairfax Financial said it agreed to sell its 80% stake in the insurance business of Eurolife FFH Insurance Group to Eurobank Ergasias for 813 million euros ($944.7 million) in cash. 

  As part of the deal, Fairfax  will buy a 45% stake in ERB Asfalistiki--Eurobank's Cyprus-based property and casualty insurance business--for 59 million euros in cash, the Canadian insurance company said Monday. It will have the right to acquire the remaining 55% equity interest in ERBA over time, it said. 

  Following the transaction, Fairfax will keep its 80% stake in Eurolife's property and casualty insurance business, while Eurobank will fully own Eurolife's life insurance operations. 

  "We are very pleased to be able to maintain the focus of our insurance operations on property and casualty insurance and reinsurance, while still benefiting from the continued success of the Eurolife life insurance business through our ownership stake in Eurobank," Fairfax Chief executive Officer Prem Watsa said. 

  The deal is expected to close in the first quarter of 2026, Fairfax said. 

  Write to Maitane Sardon at maitane.sardon@wsj.com 

  (END) Dow Jones Newswires

  October 13, 2025 02:59 ET (06:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.

The key to lasting partnerships is to treat the customer’s business as if it were your own—because their success is ultimately ours too.

The integration of powerful HENSOLDT sensors – including a high-performance electro-optical system, AMPS-M and the ‘PrecISR’ radar – with the innovative ‘MissMarvin’ mission operating system will result in scalable UAV platforms that meet both military and civilian requirements.

“With AVILUS, we have an agile UAV specialist at our side who can optimally leverage our state-of-the-art sensor solutions. Together, we are focusing on technological sovereignty and short paths from development to operational readiness – for powerful and resilient UAV expertise in Germany,” says Christina Canitz, Head of Division Optronics at HENSOLDT.

“AVILUS closes specific capability gaps in casualty evacuation, logistics and reconnaissance with robust, unmanned aerial systems. The focus is on operational proximity, reliability and rapid availability. Through close cooperation with HENSOLDT, we combine our platforms with state-of-the-art sensor technology, thus creating immediate added value for forces in the field,” says AVILUS CEO Ernst Rittinghaus.

The electro-optical system enables the detection, classification and tracking of objects thanks to multispectral sensor technology and AI-supported real-time processing. It combines HD thermal imaging, colour/low-light, SWIR and wide-angle cameras for comprehensive situation assessment – all sensors are available simultaneously and can be controlled via a high-precision 4-axis gimbal.

AMPS-M combines a self-protection system with up to 16 intelligent decoy launchers and integrates various warning sensors and protective measures against missile, laser and radar threats. The platform benefits from high modularity, minimal maintenance and more than 700 systems in use worldwide with thousands of flight hours – tested in cooperation with NATO partners.

PrecISR, a software-defined X-band radar with active electronically scanned array (AESA), detects and tracks more than 1,000 objects simultaneously, including ground, sea and air targets, regardless of weather conditions and at great distances. The system is easy to integrate, ITAR-free and, thanks to its scalability, suitable for a wide range of UAV platforms.

With the Federal Aviation Authority’s approval for civil flights already granted and the ‘company owned, company operated’ operating model, the partners are addressing a wide range of application scenarios – from disaster control and critical infrastructure monitoring to national border security.

The cooperation is part of HENSOLDT’s strategy to create innovative solutions in line with ‘software-defined defence’ through targeted partnerships. Initial demonstrations and pilot projects are already in preparation. The aim is to set new standards for ISR capabilities in unmanned aviation, both nationally and internationally.

By Billy Gray

  PSI Software agreed to be acquired by private-equity group Warburg Pincus in a deal valued at over 700 million euros ($813.4 million). 

  The companies signed a deal under which the U.S.-based Warburg Pincus will launch a voluntary public takeover offer for all outstanding shares of the German software-solutions group at 45 euros a share in cash, the companies said Monday. PSI currently has 15.7 million outstanding shares, according to its website. 

  As part of the agreement, Warburg Pincus signed share-purchase agreements and irrevocable undertakings with PSI shareholders that own about 28.5% of the company's total share capital, the companies said. One anchor shareholder will reinvest parts of its proceeds alongside Warburg Pincus into the holding structure, they added. 

  German utility E.ON, the second largest PSI shareholder and a customer of the software company, will retain its 17.77% stake, PSI said. It will also act jointly with Warburg Pincus on the deal. 

  PSI said Warburg Pincus will support its current growth strategy, maintain the existing management team and protect employee roles. The group said its headquarters will remain in Berlin, and that neither party would enter into a domination or profit and loss transfer deal for two years after closing the offer, which is expected in the first half of 2026. 

  Write to Billy Gray at william.gray@wsj.com 

  (END) Dow Jones Newswires

  October 13, 2025 02:20 ET (06:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.

MTN is proud to once again be part of MWC Kigali, Africa’s leading technology event, taking place from 21 – 23 October 2025 at the Kigali Convention Centre, Rwanda. Hosted by the GSMA, the gathering brings together government, industry and technology leaders to explore how digital innovation can unlock inclusive growth across the continent.

For MTN, MWC Kigali is an opportunity to showcase progress across our networks, fintech, digital services and skills initiatives, while engaging with policymakers and partners to secure an inclusive and sustainable digital future for Africa.

Advancing Africa’s Digital Agenda

As a founding partner of MWC Africa, MTN continues to value the platform’s role in listening, learning and sharing ideas to accelerate Africa’s digital transformation.

This year, our participation will be headlined by Ralph Mupita in Keynote 1: Africa’s Future First – Determining the Path to a Digital Future. The session will explore Africa’s digital transformation journey, with unique mobile subscribers projected to surpass 700 million by 2030, and examine how technologies such as AI, fintech, 5G and green innovation are reshaping industries and driving inclusive growth.

Beyond the keynote, MTN leaders will join panels and roundtables on infrastructure investment, FinTech, AI adoption, online safety, and Africa’s connected future.

An Immersive MTN Stand

Visitors to the MTN stand will experience how our platforms and innovations translate into real value for Africa’s digital future.

Together, these platforms highlight MTN’s commitment to equipping Africa for the digital economy and creating pathways to employment and innovation.

In collaboration with Ericsson, MTN will also showcase 5G-enabled applications that demonstrate the impact of real-time connectivity:

• HADO – an augmented reality game debuting in Africa, showing how low latency supports interactive learning, health and skills training
• 5G-enabled robotic dog – illustrating how connected tech enhances safety and efficiency in mining, utilities and energy
• Ray-Ban Display smart glasses – featuring neural gesture control for future possibilities in accessibility, workforce productivity and digital interactions