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CardinalStone Leads Listing of ?728.98 Billion Power Sector Bonds on NGX and FMDQ

CardinalStone Partners Limited is pleased to announce the listing of NBET Finance Company Plc’s ?402 billion Tranche A and ?326.979 billion Tranche B Bonds (the ‘Series 2 Bonds’) on the Nigerian Exchange Limited (NGX) and FMDQ Securities Exchange Limited (FMDQ Exchange).

The listing represents another milestone in the implementation of the Presidential Power Sector Debt Reduction Programme. It facilitates secondary market trading in the Series 2 Bonds, supports price discovery and broadens access to Federal Government-guaranteed securities within Nigeria’s domestic debt capital markets.

Commenting on the listing, Michael Nzewi, Group Managing Director, CardinalStone, said: ‘The listing of the Series 2 Bonds marks an important step in addressing legacy obligations in Nigeria’s power sector. It facilitates secondary market trading while supporting the broader effort to restore liquidity and enable sustained investment across the power value chain. We are pleased to have contributed our advisory and capital markets expertise to this landmark transaction.’

CardinalStone acted as Lead Financial Adviser and Lead Issuing House on the transaction, supporting the Programme’s objectives of restoring liquidity, strengthening investor confidence and enabling sustainable investment across Nigeria’s power value chain.

About CardinalStone

CardinalStone is Nigeria’s leading independent investment and multi-asset management firm, providing integrated solutions across advisory, capital markets, asset management, securities trading, trust services, financing, registrar services, and pensions.

With over ?7 trillion in capital markets and M and A transactions advised, CardinalStone has established itself as one of Africa’s premier financial institutions. The firm was the first securities house to surpass ?2 trillion in transaction value on the Nigerian Exchange and has ranked as the Exchange’s number-one securities firm by value for four consecutive years (2022-2025).

CardinalStone’s market leadership has been recognised through numerous industry awards, including Euromoney’s Awards for Excellence (2026), Euromoney’s Market Awards (2024 and 2025), and multiple DealMakers Africa Awards (2026) for excellence in equity advisory and capital markets execution.

Nuges Media marks second anniversary with Lagos office expansion

Nuges Media, an Abuja-based marketing and advertising agency, has opened a new office in Lagos to mark its second anniversary, extending its operations beyond the Federal Capital Territory.

The expansion, which took effect around the agency’s second anniversary in October 2026, follows its launch in Abuja in 2024.

The firm describes itself as a 360-degree agency that solves business problems through strategy, media, technology, Production, Impact and creative services for clients across sectors including real estate, e-commerce, hospitality, technology and financial services amongst many others.

Azerbaijan begins fuel exports to Kyrgyzstan as Bishkek diversifies supplies beyond Russia

Kyrgyzstan has begun receiving petroleum products from Azerbaijan and several other countries as part of efforts to diversify fuel imports and reduce its dependence on Russia, its traditionally dominant supplier.

Kanatbek Eshatov, President of the Association of Petroleum Product Traders of Kyrgyzstan, announced that initial fuel shipments had started arriving from Azerbaijan, Turkmenistan, Belarus, Trkiye, and China.

According to Eshatov, Kyrgyzstan is expanding its network of petroleum product suppliers to reduce the risks associated with relying heavily on a single source.

Russia has historically been the country’s primary supplier of petroleum products. However, Bishkek is now seeking to broaden its import options to strengthen the stability of domestic fuel supplies.

As part of this diversification, the first shipments of fuel from China have also begun arriving in Kyrgyzstan by rail.

Eshatov noted that the domestic diesel market remains stable, although some shortages persist in gasoline supplies.

Kyrgyzstan’s annual demand for petroleum products exceeds 1.5 million tonnes, making reliable imports an important factor in meeting domestic consumption needs.

The arrival of Azerbaijani petroleum products marks an expansion of the country’s fuel export destinations in Central Asia, while providing Kyrgyzstan with an additional source of supply.

The development also reflects Bishkek’s efforts to establish a more diversified fuel procurement system involving suppliers from the Caspian region and beyond.

However, Eshatov did not disclose the volume or value of the initial Azerbaijani shipments, nor did he specify whether additional deliveries had been agreed.

iCAUR steps into the spotlight at the International User Summit

THE recently concluded Chery International User Summit in Wuhu, China, was more than a gathering of global media, users, and brand partners. For delegates from the Philippines, it provided an immersive introduction to iCAUR, a lifestyle-focused new energy vehicle brand set to enter the local market with the V23 and V27. Held under the theme ‘Classic Never Fades | Make It Yours,’ the summit showcased the brand’s vision of blending retro-inspired SUV design, modern electrified technology, and user-driven creativity.

User-Driven Customization Carnival

ONE highlight of the Chery International User Summit was the iCAUR User-Driven Customization Carnival, an event that showcased the brand’s belief that ownership goes far beyond simply driving a vehicle. Designed as a platform for owners, designers, and enthusiasts, the carnival celebrated creativity and personalization through a wide range of customized models.

The V27 REEV AWD in action during the muddy off-road test drive

Around 20 modified vehicles were displayed alongside three factory-backed concepts: the V25 Game Changer, inspired by gaming culture; the V23 Forge, featuring a rugged wide-body off-road theme; and the V27 Sun Roam, a travel-inspired build that paid tribute to classic expedition vehicles.

The showcase extended beyond traditional vehicle modifications. User-created builds featured camping and overlanding gear, modular storage solutions, roof racks, and adventure accessories, while others were transformed into mobile coffee shops, bicycle repair stations, entertainment hubs, and social gathering spaces. One standout concept, called CYBER PARTY, reimagined the V23 as a mobile DJ booth complete with a deployable stage for outdoor events.

More importantly, the carnival demonstrated that these concepts are not merely show vehicles. It viewed customization as a key pillar of its future business strategy, with plans for dedicated personalization areas in showrooms, expansion of its Club Connect global community, and the introduction of official customized variants in international markets.

Rather than focusing solely on performance specifications or premium features, the brand is building an ecosystem centered on travel, outdoor recreation, gaming, photography, and lifestyle experiences. The carnival illustrated how a vehicle can become a canvas for self-expression and a reflection of its owner’s passions.

This approach could resonate strongly with Filipino buyers, who have long embraced SUV customization through lift kits, roof racks, aftermarket wheels, and adventure accessories. By integrating personalization into the ownership experience from the very beginning, it is turning customization from an aftermarket upgrade into a defining part of the brand’s identity.

V25’s global debut

THE festival’s centerpiece was the global launch of the all-new V25. Positioned between the compact V23 and the flagship V27, the V25 completes the brand’s growing V-Series lineup. It also sent a clearer picture of the expanding global portfolio.

Visually, the V25 remains faithful to the brand’s ‘Future Classic’ design philosophy. It combines upright proportions, a boxy silhouette, circular headlamps, and rugged styling cues with a thoroughly modern electrified platform underneath. The result is a vehicle that blends nostalgic SUV design with contemporary technology.

The V25 will be offered globally in two versions: a Battery Electric Vehicle (BEV) and a Range-Extended Electric Vehicle (REEV), making it the first model in the lineup to provide both fully electric and range-extended options.

The BEV version features an 80.16-kWh battery pack and is available in rear-wheel-drive and all-wheel-drive configurations. Output ranges from 185 kW in the rear-wheel-drive model to 335 kW in the dual-motor all-wheel-drive variant.

Depending on the configuration, driving range reaches up to 445 kilometers under the NEDC testing cycle, while DC fast charging from 30 to 80 percent can be completed in approximately 25.7 minutes.

Meanwhile, the REEV variant combines a dual-motor electric drivetrain with a 1.5-liter turbocharged engine that functions solely as a generator. Combined output reaches 335 kW and 505 Nm of torque, while pure electric range is rated at up to 150 kilometers. The vehicle also boasts a total range of more than 800 kilometers, addressing one of the most common concerns among potential EV buyers.

Other highlights include i-AWD intelligent all-wheel drive, more than 20 factory customization options, up to 1.8 tons of towing capacity, and vehicle-to-load functionality that can power outdoor equipment and appliances.

Although no official Philippine launch schedule has been announced, the V25 is widely expected to follow the local introduction of the V23 and V27.

A muddy first taste of the V27 REEV

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BEYOND static displays and presentations, summit participants could experience iCAUR’s capabilities firsthand on a muddy off-road driving course featuring the V27 REEV.

While the route was relatively short, it offered enough challenges to reveal the vehicle’s strengths. From the outset, the V27 projected a strong off-road presence. Its boxy bodywork, flared wheel arches, generous ground clearance, roof rails, side steps, large wheels, protective body cladding, and rear-mounted spare tire all contributed to its expedition-ready appearance.

Under the hood is a range-extended electric powertrain in which a 1.5-liter turbocharged engine serves as a generator while electric motors drive the wheels. In dual-motor all-wheel-drive form, the system produces approximately 335 kW and 505 Nm.

The benefits were immediately apparent on the muddy terrain. Electric torque arrived instantly, allowing the V27 to accelerate briskly through slippery sections without hesitation. Where conventional SUVs often need to build momentum, the V27 delivered immediate response and confident forward progress.

Its intelligent all-wheel-drive system proved equally impressive. Traction remained secure even through deep puddles and heavily churned-up surfaces, while wheelspin was effectively managed. Rather than overwhelming the driver, the system inspired confidence with smooth, predictable performance.

Perhaps the biggest surprise was the vehicle’s steering response. Despite its size, the V27 felt precise and easy to position. Even as the surface became increasingly slippery, the steering allowed accurate placement while maintaining stability when the rear of the vehicle began to rotate slightly through muddy turns.

Technology also played an important role. The V27’s camera and radar systems continuously displayed information about the surroundings, helping drivers identify obstacles, terrain changes, and potential hazards. Combined with the elevated seating position and excellent visibility, these features made even unfamiliar terrain feel manageable and less intimidating.

The next big disruptor in the SUV space?

THE Philippine SUV market has long been dominated by traditional formulas. Rugged off-roaders often rely on heritage and diesel power, while family SUVs prioritize comfort and practicality.

iCAUR appears determined to challenge both approaches. By combining retro-inspired styling, electrified powertrains, advanced technology, and factory-backed customization, the brand offers something genuinely different in a segment where many vehicles increasingly look and feel alike.

The V23, V25, and V27 are not merely niche adventure vehicles. Their blend of modern driver-assistance technologies, flexible powertrain options, practical interiors, and customization potential broadens their appeal beyond hardcore off-road enthusiasts.

For the Philippines, the timing could be ideal. Interest in electrified mobility continues to grow, yet concerns about charging infrastructure remain. The REEV technology found in models like the V25 and V27 offers a practical bridge between conventional internal combustion vehicles and full battery-electric vehicles.

Whether iCAUR can disrupt the established SUV hierarchy remains to be seen. However, after its strong showing at the Chery International User Summit, it is clear that the brand is bringing a fresh perspective to the market. With its unique mix of adventure, personalization, and electrified performance, iCAUR could appeal not only to enthusiasts but also to mainstream SUV buyers looking for something different.

If executed well, the brand could emerge as one of the more intriguing new players in the Philippine automotive landscape.

Lagos population to hit 16.2m by 2050 – World Bank

Lagos’ population is projected to rise by more than 25% to 16.2 million by 2050, intensifying the need for infrastructure investment, affordable housing and productive job creation as Nigeria’s commercial hub grapples with rapid urban growth, according to the World Bank.

The Bank, in its new report, Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation, said sub-Saharan Africa would add 748 million urban residents between 2025 and 2050, presenting an opportunity to expand economic activity and create jobs if governments adopt policies that make cities more productive.

The report projects that Lagos, which had an estimated population of 12.8 million in 2025, will remain one of the region’s most populous cities by 2050, although Angola’s capital, Luanda, is expected to overtake it.

Luanda’s population is projected to increase by 78%, from 11.4 million in 2025 to 20.3 million in 2050, making it sub-Saharan Africa’s most populous city.

Lagos’ population, meanwhile, is expected to reach 16.2 million, representing an increase of more than 25 perc over the 25-year period.

The projections underscore the scale of the planning challenge facing Lagos, where expanding population numbers will require governments to ensure that infrastructure, housing and transport systems support economic activity and improve access to employment.

The World Bank said the region’s urban transition could become a powerful driver of economic growth and job creation if governments direct investment towards locations where businesses can cluster and workers can easily reach employment opportunities.

‘Sub-Saharan Africa’s urban transition can transform the region’s jobs market,’ said Paschal Donohoe, World Bank Group managing director and chief knowledge officer.

He said the right investments and reforms in infrastructure, land, connectivity and financing could attract private capital, increase productivity and create formal jobs for millions of young Africans.

The report noted that urban households already spend considerably more per adult than equally educated rural households, reflecting stronger employment and earning opportunities in cities.

However, it warned that realising the economic benefits of urbanisation would require targeted interventions to address the different challenges facing major cities, their expanding peripheries and smaller towns.

For major cities such as Lagos, the bank recommended investing in transport, infrastructure and affordable housing to develop accessible, job-rich economic clusters. It also called for regulatory improvements that would enable businesses and workers to locate closer to economic opportunities.

On the outskirts of rapidly expanding cities, governments should establish road networks and reserve land for essential infrastructure before unplanned development becomes entrenched, the report said.

Beyond Lagos, the report projects significant population increases in other African cities, including Onitsha in Nigeria, whose population is expected to rise from 5.6 million in 2025 to 8.7 million in 2050.

Kano’s population is also projected to increase by 31 percent, although the city is expected to fall out of sub-Saharan Africa’s 15 most populous cities by 2050.

The report also identified opportunities in the region’s more than 15,000 towns, recommending that governments prioritise investment in locations with strong economic and geographic potential, particularly those along transport corridors and near other economic opportunities.

In towns with weaker economic prospects, investment in education and healthcare could help residents connect with stronger labour markets.

The World Bank further called for stronger urban governance and more reliable financing mechanisms to help cities manage expansion and attract private investment.

It recommended using low-cost technology to modernise property tax systems, improve local revenue collection and strengthen city creditworthiness. Better municipal finances could help attract private capital, including through public-private partnerships for infrastructure development.

‘Africa’s urban transformation will deliver on its promise only if cities have the institutions and resources to manage growth effectively,’ said Mark Roberts, World Bank senior urban economist and co-author of the report.

He said stronger urban governance, more predictable financing and greater accountability were essential to translating rapid urbanisation into better infrastructure, increased investment and more productive jobs.

The report stressed that decisions taken now would shape the region’s urban economies for generations, making early investment in infrastructure, effective planning and stronger institutions critical to ensuring that population growth translates into wider economic opportunities.

For Lagos, the projected increase to 16.2 million residents by 2050 reinforces the importance of aligning urban expansion with infrastructure development, business investment and job creation to sustain the city’s role as a major economic centre.

WHO warns of rising diabetes burden in Africa

Three in four persons living with diabetes in Africa are unaware they have the disease, the World Health Organisation (WHO) has warned, raising raising concerns about late treatment and preventable complications as the disease burden continues to rise across the continent.

Mohamed Janabi, the WHO Regional Director for Africa, disclosed this in a message to mark World Diabetes Day 2026, observed on November 14, under the theme ‘Early Action on Diabetes’.

According to Janabi, an estimated 24.6 million adults aged 20 to 79 are living with diabetes in the WHO African Region in 2024, with the figure projected to reach 59.5 million by 2050.

He said the proportion of people with diabetes who remain undiagnosed was the highest globally, leaving millions at risk of complications, including kidney failure, blindness, cardiovascular disease and lower-limb amputations.

‘Early diagnosis and timely treatment can prevent complications, reduce suffering and save lives,’ Janabi said, calling on individuals, communities, governments, healthcare workers and development partners to strengthen awareness, promote early diagnosis and expand access to affordable, quality diabetes care.

He urged people to recognise the warning signs of diabetes, including increased thirst, frequent urination, unexplained weight loss, persistent tiredness and blurred vision, and seek medical advice and testing promptly.

Janabi also advised people at increased risk of the condition to undergo screening, noting that diabetes could develop without obvious symptoms.

He called on communities to promote accurate information about the disease and challenge stigma and discrimination, while encouraging people living with diabetes to share their experiences and support others to seek care.

The WHO regional director also urged healthcare workers to recognise symptoms early, provide timely testing and ensure compassionate, person-centred care to improve disease management and prevent complications.

Janabi said the WHO was supporting African countries to strengthen diabetes services at primary healthcare and first-level referral facilities through initiatives including the WHO Package of Essential Noncommunicable Disease Interventions (WHO PEN), the HEARTS technical package for cardiovascular disease, HEARTS-D for the diagnosis and management of type 2 diabetes, and the PEN-Plus regional strategy for severe noncommunicable diseases.

He commended Rwanda for achieving nationwide district-level coverage of PEN-Plus, alongside other countries making progress in implementing the programme. However, he said significant gaps remained in access to trained healthcare workers, diagnostic services, essential medicines and continuous care.

The WHO regional director called on African governments to prioritise diabetes prevention, early diagnosis and continuous treatment within primary healthcare systems and universal health coverage.

He said this would require sustained investment in public awareness, affordable insulin and essential medicines, diagnostic services, trained health workers and reliable health systems.

He also urged development partners, civil society organisations and the private sector to support government-led efforts, particularly in underserved communities.

Janabi said the WHO remained committed to supporting member states in accelerating progress towards the 2030 targets of the Framework for the Implementation of the Global Diabetes Compact in the African Region.

He urged people across the continent to learn the symptoms of diabetes, seek testing and care early, and encourage family members and friends to do the same.

Anker soundcore AeroClip 2: Open-ear comfort for everyday life

Delivering clear call audio and music listening with maximum comfort on the go

Most people these days spend a good chunk of their time wearing earphones or headphones to listen to their favorite music, podcasts, audio books, and even take calls while on the go.

And while it’s great to have that convenience of being able to do that, you still have to make sure you’re completely aware of things going on in your surroundings as you go through your day.

It’s easy to get distracted by what you listen to for a quick moment, especially when it’s that final chorus in a song you love, or a good punchline from a podcast that makes you laugh hard. These small instances can easily turn from special moments to accidents, which could easily ruin your day.

One of the best ways to still be able to listen to what you want whenever and wherever is to get a solid pair of OWS (Open Wearable Stereo) devices, and one of the best ones out there right now is the Anker soundcore AeroClip 2.

All-day comfort without falling off

Long commutes or morning jogs can be made fun with a bit of music, so a pair that’s comfortable to wear for hours can make or break your day.

The Anker soundcore AeroClip 2’s open ear design clips onto the outer portion of the ear to hang and stay in place. Them falling off won’t be an issue having been precision-modeled using a database of over 2,000 ear profiles, as well as being tested on 1,000+ diverse users.

In addition, its material is durable yet lightweight, having been tested for over 10,000 flex tests and only weighing 6.2 grams per earbud, so you won’t even notice that it’s there while you wear it for hours, which mitigates any form of discomfort.

Enjoying your own little bubble without missing out on the world around you

Poor audio quality adds stress and can sour your mood, of course we don’t want that. Your favorite songs and podcasts should be there to lift you up to get through your day.

Sound-wise, the combination of the Anker soundcore AeroClip 2’s 12mm dual-magnetic drivers, LDAC support (for Android devices), Hi-Res certification, and Anker’s own customizable HearID 5.0 provide a worthwhile listening experience that’s both immersive, yet not too distracting that you’ll lack spatial awareness.

These are also great for fulfilling your fitness era, being able to wear them and set high volumes with hype music playing to pump you up for sprints when running, getting in the zone in padel or tennis, and just going all out.

Never missing a beat at work

When taking calls for work regardless of when you’re at the office, at home, a cafe, or outdoors, there’s bound to be those loud ambient noises that disrupt an ongoing meeting or make you miss important points discussed.

It also gets rough when all your colleagues hear from your end of the call is nothing but construction noises or road rage, so voice isolation in a pair of earbuds is important.

To solve that, the Anker soundcore AeroClip 2 comes with an advanced voice-calling system through its use of the brand’s own THUS AI Chip and 6-Sensor Call Technology to extract your voice and make it so the people you talk to only hear you and not the noisy environment around you.

This technology earned the device a Guinness World Records certification as the ‘World’s Clearest Open-Ear Clip-On Earbuds for Calls’.

A proper ambience for resting

No matter how strong or energetic a person you are, the daily hustling that you do to get the most out of life can be inevitably draining, so you’ll always need even just a few moments to relax.

Coming with built-in white noises, the Anker soundcore AeroClip 2 can enter something called ‘Nap Mode’ with just 3 clicks on the button of either earbud.

In this mode, you can choose from a wide selection of offline white noises that can be downloaded through the Anker app, from ‘rainy alley’ to ‘campfire crackle’, there’s going to be something there for that quick break to meditate or power nap right before getting back to work.

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Highly reliable, rain or shine

As human beings, endurance is a quality that’s truly looked up to given how chaotic or peaceful life can be given its unpredictability.

And the Anker soundcore AeroClip 2 is capable of tagging along with you in this adventure we call life.

It has ingress protection (IP) rating of IP57, the earbuds will be able to withstand potential damage against dust and other small particles, as well as splashes of water. Sweat and rain are also a few of the things it’s able to endure, making it a great partner to use at the gym, in the courts, and even outdoors during your morning run.

And with up to 8 hours of use per charge for each earbud, and up to 32 hours total with the charging case, these earbuds are ready to last a full week through your day to day grind.

The earbuds are also quick to charge, allowing up to 4 hours of use with just a 10-minute charge.

Seamless Apple integration

Great device compatibility also matters when choosing a pair of earphones to include in your EDC, and the Anker soundcore AeroClip 2 is ‘The World’s First Open-Ear Clip-On Earbuds with an MFi Certification’.

This allows a smoother, more reliable experience and connectivity with iOS devices, ensuring that there won’t be any technical issues that hold you back while going through your day.

A complete OWS package

Whether your day involves commuting, calls, workouts, a lot of moving around, or even taking quick breaks and staying still, the Anker soundcore AeroClip 2 is made to fit in without getting in the way. It lets you keep listening while your day keeps moving.

Price and Availability

The Anker soundcore AeroClip 2 comes in several colors including Burgundy Red, Midnight Black, Cloud White, and Mist Blue.

It retails for only P9,995 and is now available through Anker’s official e-commerce stores on Shopee, Lazada, and TikTok Shop and as well as at Anker authorized stores and retail partners nationwide and Authorized e-commerce stores in Anker Authorized Store PH on Shopee, Lazada, and TikTok Shop and Anker soundcore on TikTok Shop.

For more information on Anker’s latest products, promotions, and updates, follow Anker Philippines on Facebook, Instagram, and TikTok.

About Anker

Anker Innovations, known globally as Anker, is a consumer technology company founded in 2011 with a commitment to Ultimate Innovation. Its products span charging, power, audio and video, smart home, robotics, health and creative tools, serving more than 200 million customers across over 180 countries and regions. To learn more, visit Anker.com.

Young Pinoys geared up for Olympic test

The 4th Youth Olympic Games unfurl on Saturday night under a heartwarming ‘Africa welcomes, Dakar celebrates’ theme and with a handful nine-member Team Philippines hoping for the best in the two-week, 25-sport competition among the world’s best athletes aged 15 to 17 years old.

Unlike in the Summer Games where the Filipino athletes’ stock now belong to the world’s elite, the YOG has yet to produce the country’s best and brightest potentials who would someday become another Hidiyln Diaz-Naranjo or a Carlos Yulo.

It will be tough, according to Philippine Olympic Committee president Abraham ‘Bambol’ Tolentino, who has done the rounds with his secretary-general Atty. Wharton Chan, since arriving in this West African country last Wednesday.

‘They’re big and they look strong,’ said Tolentino of the American and European athletes who’re already in town ahead of Saturday’s two-hour Opening Ceremony set at the 55,000-seat Stade Abdoulaye Wade in Diamniadio, a new city about 30 kms from Dakar.

‘It will be very difficult,’ added Tolentino who welcomed on Thursday night here the first batch of Filipinos exhausted from their 30-hour flight from Manila via Istanbul at the Blaise Diagne International Airport also located in Diamniadio.

‘So it’s good luck to our athletes, although I’m sure they prepared hard for this once-in-a-lifetime experience,’ Tolentino added.

Already checked in at the Athletes’ Village were swimmers Riannah Chantelle Coleman and Jamesray Michael Ajido and wushu’s Angel Polo and their coaches Ramil Ilustre and Jensen Halili (swimming) and Chinese Li Jianfang (wushu).

Coleman and Ajido will bear the Philippine flag in the parade of nations during the opening ceremony and they will be joined by Polo, Chef de Mission Rocky Samson, Illustre and Li.

Flying to Dakar also via Istanbul on Saturday are gymnastics athletes Hillarion Palles III and Tchelcy Mei Maayo and coaches Reyland Capellan and Kazutaka Hakamada, and on November 4, it will be the turn of cycling’s Maritanya Krog and coaches Mark John Lexer Galedo and Marita Lucas and athletics’ Pi Wangkay and Naomi Cesar and coach Jasper Tanhueco.

Celebrations are already taking over Senegal’s capital, according to local reports, as the city prepares to welcome the rest of the world-primarily the more than 2,700 athletes-to the first Olympic event on African soil.

IOC President Kirsty Coventry said the first Olympic sporting event on African ‘soil offers the continent a chance to challenge low expectations and show the world what it can achieve.’

‘It feels like a long time coming,’ Coventry, a two-time Olympic swimming champion, told a press conference at the Main Press Center on Thursday. ‘The excitement of having the first-ever Olympic event here is a little bit surreal.’

A visit to the Youth Olympic Village in Diamniadio also caught the IOC chief’s enthusiasm.

‘It felt like you were walking in the village in Paris or in Milan,’ she said. ‘And I think that is something to be incredibly proud of.’

Senegal was awarded in 2018 to host the YOG originally scheduled in 2022, but was canceled by the Covid-19 pandemic and moved to 2026.

Dakar YOG Ceremonies Director Khady Niang said the Opening Ceremony will allow Africa to ‘tell the world who we are, where we come from and where we want to go.’

The production aims to showcase Senegalese identity and Africa’s cultural diversity, featuring around 11,000 performers, including 700 dancers.

Senegal President Bassirou Diomaye Faye will join Coventry in the ceremony.

Binance hit by $6.3bn security breach in biggest cryptocurrency heist

Binance, Cryptocurrency exchange, has suffered a security breach with an estimated $6.3 billion impact, in what TRM Labs, blockchain intelligence firm, describes as the largest cryptocurrency theft in history.

The incident, which occurred on October 29, involved the movement of approximately $6.36 billion from Binance-controlled wallets across 10 blockchain networks, according to TRM Labs.

The development has raised fresh concerns about cybersecurity risks facing centralised cryptocurrency exchanges and the protection of digital assets.

In a security update published on October 30, Binance said preliminary investigations suggested that an attacker gained access to its internal systems through a compromised laptop belonging to a DevOps engineer.

The attacker allegedly used the access to enter a service container and submit unauthorised withdrawal transactions.

The exchange said it had found no evidence that wallet private keys were leaked, adding that investigations were ongoing to establish the full circumstances of the breach.

As an immediate response, Binance temporarily suspended deposits and withdrawals while its security teams worked to contain the incident.

It also revoked authorisation for affected addresses and engaged law enforcement agencies, blockchain intelligence firms and industry partners to trace and recover the assets.

Binance said approximately $3 billion in affected assets had been frozen on-chain through collaboration with blockchain partners.

The exchange also assured customers that their funds remained safe and pledged to cover all losses through its Secure Asset Fund for Users (SAFU) and company reserves.

The scale of the incident has attracted attention from cybersecurity researchers, with TRM Labs attributing the attack, with high confidence, to TraderTraitor, a North Korean state-sponsored hacking group associated with previous major cryptocurrency thefts.

In its assessment published on October 29, TRM Labs said its attribution was based on on-chain and off-chain intelligence. The firm traced the movement of funds across multiple blockchain networks, including Ethereum, Bitcoin, Tron, Solana and the XRP Ledger.

The reported breach would surpass the $1.5 billion Bybit cryptocurrency exchange hack in February 2025, which was also attributed to North Korean-linked hackers, making the Binance incident the largest recorded cryptocurrency theft if the current estimates are confirmed.

The attack has also unsettled cryptocurrency markets. Bitcoin fell by more than 3 per cent following reports of the breach, while Ether and other digital assets also recorded declines as investors reacted to concerns about exchange security.

The incident comes amid growing scrutiny of cybersecurity vulnerabilities within the cryptocurrency industry, where exchanges remain important custodians and trading platforms for billions of dollars in digital assets.

Binance said it would publish a detailed technical post-mortem after completing its investigation and remediation efforts. The company also plans to provide an updated proof of reserves following the security review.

Kultura Atelier launches in SM Makati this Christmas Season

Parols light up homes, familiar holiday treats fill the table, and gatherings call for something special to wear. Across these traditions lies a shared appreciation for things that make Christmas undeniably Filipino, from the family traditions passed down through generations to the artistry woven into what we wear. In line with this spirit, Kultura kicked off Paskong Kumukutikutitap with the launch of Kultura Atelier, the new Filipino Luxury, in SM Makati. Amidst cascading parols, the new expanded store carries collections in collaboration with local designers, in a space where artisanal craft meets elevated design.

Last October 22, Kultura celebrated Kultura Atelier at SM Makati through Designers’ Conversations hosted by Issa Litton where emerging and established creatives shared their personal philosophies and creative processes as models walked the aisles featuring their new collections.

The runway pieces were anchored in tradition through classic materials like pina silk and silhouettes like the barong and mestiza tops, but also showed on the many ways they evolved for today’s modern Filipina and Gentleman. The show culminated in a final tableau, with models and designers gathering together for a defining snapshot of Kultura Atelier, reminding us that true luxury lies in the devotion to craft: the precision of an embroidered detail, the skill behind intricate beadwork, the choice of fabric or embellishment, and the imagination that turns these into the designer’s personal vision.

The festivities extended beyond the runway with a perfume bar by Tadhana Fragrance, and personalization booths by Bags in the City and jewelry customization by Nazrea Pearls. Guests enjoyed traditional treats and kakanin, including bibingka and puto bumbong from Manam, alongside beverages from Sarsa Cafe, and cocktails crafted with local ingredients by Destileria Limtuaco with music provided by DJ Noemi Kanomi.

Featured Designers

Daryl Maat

FAM PH

Goodluck Humans

Harold and Harry

Isla by Filippo

Jor-el Espina

Ken Samudio

Martin Uy

Rodolfo

Sari Lazaro

Tim Tam Ong

Wear Your Culture

Zarah Juan

Featured Food and Beverage Brands

Auro Chocolate

Bancharon

Chef Tony’s

Christian’s

Destileria Barako

Destileria Limtuaco and Co., Inc.

Kangkong King

Salbahe

Sarsa Cafe

Theo and Philo

Villa Socorro Farm Davana Chips

Discover the new Filipino Luxury at Kultura Atelier Level 2, Kultura, SM Makati.