Bitget Introduces Open Custody Network, Redefining the Relationship Between Custody and Trading

VICTORIA, Seychelles, Nov 6 (Bernama-GLOBE NEWSWIRE) -- Bitget, the world's largest Universal Exchange (UEX), has announced the launch of the Open Custody Network (OCN), a new network connecting banks and institutional-grade custodians with Bitget’s trading infrastructure for all eligible users.

The initiative addresses a longstanding structural characteristic of the cryptocurrency exchange industry: the concentration of asset custody and trading activities within a single platform. Under the traditional centralized exchange model, users typically transfer their assets to an exchange to access the trading capabilities, concentrating custody and execution within the same venue.

Bitget OCN aims to address this shift by uniting custody independence, banking and institutional-grade security, integrated exchange trading, capital efficiency, and connected liquidity. Through Bitget OCN, users can maintain custody of their assets with participating external providers while accessing trading opportunities on Bitget, without requiring the underlying assets to be held directly in exchange custody. It also aims to provide traders with a more integrated experience, lower barriers to entry for everyone, and more equitable access to financial services.

OCN connects independent custody with Bitget’s spot, margin, and futures markets through asset mirroring, allowing eligible users to trade while keeping assets with their selected provider. For market makers, asset managers, and other institutions, the solutions offer a practical way to manage custody concentration risk while putting externally held assets to work across trading strategies. The result is greater custody flexibility and the ability to deploy externally held assets across trading strategies.

"We challenge the assumption that users must place their assets in an exchange’s custody to access its trading capabilities," said Gracy Chen, CEO of Bitget. "Our proposition, ‘Assets in Bank, Tradings on Bitget.’, puts custody choice at the centre of that approach. For the first time, users can leverage world-class liquidity and capital efficiency with lower barriers and zero compromise on custody.”

For more information, visit here.

About Bitget

Bitget is the world's largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 500+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships such as MotoGP™. Bitget currently leads in the tokenized TradFi market, providing the industry's lowest fees and highest liquidity across 150 regions worldwide.

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A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/490757e9-ea5c-475b-a728-6eebdcc4e3fe

SOURCE: Bitget Limited

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--BERNAMA

NINGBO MAYORS’ DIALOGUE YIELDS 14 COOPERATION AGREEMENTS - CGTN

KUALA LUMPUR, Nov 4 (Bernama) -- The 2026 Global Mayors Dialogue · Ningbo in China’s port city of Ningbo produced 14 cooperation agreements and a joint statement, the Ningbo Consensus on Cooperative Development, after the opening, China Global Television Network (CGTN) reported.

Themed "Openness and Connectivity for Shared Opportunities", the event brought together representatives from 15 countries and 20 international cities. The signed projects cover sister-city exchanges, trade and investment, science and education, and culture and tourism.

“The city’s opening up is not a one-way going out but a two-way embedding into global industrial and innovation chains,” said Ningbo Mayor, Shen Mingquan.

Meanwhile, Auckland Mayor Wayne Brown and Errachidia Mayor Karimi Said, from Morocco, were among the speakers, sharing how their cities have built links with global markets.

Ningbo, one of China’s first coastal cities to open up to foreign trade, maintains economic and trade ties with more than 220 countries and regions, according to CGTN in a statement.

In 2024, Ningbo-based Dashun Fur invested US$40 million in Egypt’s Suez Canal Economic Zone, expanding cooperation to modern logistics from traditional textiles. Products such as milk powder from New Zealand and Moroccan dates are popular among Ningbo residents, and the Maldives is one of their top 10 outbound tourist destinations. (US$1 = RM4.07)

According to CGTN, China’s goods trade reached 45.47 trillion Chinese yuan in 2025, up 3.8 per cent year-on-year, with trade with Belt and Road partners accounting for 51.9 per cent of the total, according to customs data.

The Ningbo Consensus commits participants to deeper industrial collaboration, open trade, and people-to-people exchange.

CGTN said the event showed that openness and connectivity, rather than isolation, remain the surest path to shared opportunity.

-- BERNAMA

UNIVAR SOLUTIONS BUYS LAVO BULK ASSETS TO EXPAND IN CANADA

KUALA LUMPUR, Nov 4 (Bernama) -- Univar Solutions LLC (Univar Solutions), a speciality ingredients and chemicals distributor, has completed the acquisition of certain assets of KIK Consumer Products’ Lavo Bulk (Lavo Bulk) business in Canada, strengthening its presence in Eastern Canada.

The deal expands the complementary chemical solutions and capabilities Univar Solutions can offer customers in the region. Lavo Bulk’s leadership and dedicated sales team have joined the company.

“The addition of Lavo Bulk is a strong strategic fit with our business and our commitment to growing with key customers and critical suppliers in Canada.

“We look forward to building on their established expertise, relationships and capabilities while continuing to deliver the safe, reliable service our customers expect,” said Univar Solutions Chief Executive Officer of Chemical Distribution and Services, Bob Craycraft in a statement.

Meanwhile, Univar Solutions Senior Regional Vice President of Chemical Distribution and Services for Canada and EMEA, Chris Halberg said the company’s immediate focus was on a smooth transition and maintaining service levels for customers.

He said Univar Solutions saw opportunities to deepen its relationships with customers and suppliers across the region.

-- BERNAMA

Vedanta Limited Delivers Highest-ever Half-yearly Profit of $1.21 bn, up 151% YoY

MUMBAI, India, Nov 4 (Bernama-BUSINESS WIRE) -- Indian multinational Vedanta Limited (BSE: 500295 & NSE: VEDL), a global leader in metals and critical minerals, announced its consolidated results for the second quarter and half year ended 30 September 2026, delivering its best-ever financial performance driven by operational excellence and disciplined execution.

Vedanta Limited achieved its highest-ever quarterly Profit of $649 mn, up 151% YoY, while half-yearly Profit reached a record $1.21 bn, up 151% YoY. Vedanta also declared its first interim dividend of INR 5 per share during the quarter, reinforcing its commitment to shareholder returns.

The Company delivered record quarterly revenue of $2.70 bn, up 57% YoY, taking half-yearly revenue to a record $5.18 bn, up 54% YoY. Quarterly EBITDA surged 106% YoY to $1.04 bn, while half-yearly EBITDA reached a record $1.94 bn, up 103% YoY. EBITDA margins expanded to 60% in Q2 and 58% in H1, improving by 1,055 bps and 1,023 bps YoY, respectively.

Vedanta further strengthened its balance sheet, with a best-in-industry Net Debt/EBITDA of 0.1x, from 0.3x in Q1 FY27. Net debt declined by $497 mn QoQ to $380 mn, from $877 mn in June 2026. The Company generated strong Q2 free cash flow (pre-capex) of $607 mn, taking cumulative H1 free cash flow to $1.07 bn. Cash and cash equivalents stood at $2.78 bn.

Underscoring improved financial strength, both ICRA and CRISIL reaffirmed Vedanta Limited’s AA+/Stable credit rating.

Key operational milestones included the commissioning of Gamsberg Phase II in South Africa, adding 200 KTPA of metal-in-concentrate capacity and taking Vedanta Zinc International's total capacity to 500 KTPA. FACOR successfully produced its first tonne of chromite ore from underground mines in Odisha, while Vedanta Limited's portfolio of critical mineral blocks expanded to 11, with five under exploration.

USD-INR exchange rate
Average: 95.57 (Q2), 95.08 (H1)
Closing: 95.92

View source version on businesswire.com:
https://www.businesswire.com/news/home/20261103287007/en/

Contact

For media queries, contact:
Sonal.Choithani@vedanta.co.in

Source : Vedanta Limited

GUOCOLAND NAMED BEST DEVELOPER, UOL TOPS PROPERTYGURU SINGAPORE AWARDS

KUALA LUMPUR, Nov 3 (Bernama) -- GuocoLand was named Best Developer at the 16th PropertyGuru Asia Property Awards (Singapore), while UOL Group Limited was the most awarded company of the night.

It was the fifth time GuocoLand has won the top honour in the awards’ history, with its Springleaf Residence, developed with Hong Leong Holdings, and River Modern projects also winning across design, development and sales categories. More than 40 awards were presented at a gala dinner at The St Regis Singapore.

“Singapore is unique. With limited land and fierce competition, this market demands precision, innovation, and foresight like nowhere else,” said PropertyGuru Asia Property Awards and Events general manager, Jules Kay in a statement.

UOL Group was named Best Residential Developer, Best Sustainable Developer and Best Hospitality Developer, and also won design and development awards for NoMad Hilton Singapore. Its joint ventures behind Skye at Holland and Thomson Reserve also won multiple awards.

Frasers Property Singapore won Best Luxury Developer, and Jean Yip Developments was named Best Landed Developer, while SingHaiyi Group won both Best Lifestyle Developer and Best Condo Developer. Soon Hock Enterprise Holding was named Best Industrial Developer, and The Assembly Place won Best Co Living Operator.

Wee Hur Holdings executive chairman and managing director, Goh Yeow Lian was named Real Estate Personality of the Year, while SingHaiyi Group and Tang Organization Group chief executive officer (CEO), Gallant Tang received the Rising Star award.

The new Best Selling Awards, based on sales data, went to City Developments Limited for Newport Residences, GuocoLand for River Modern and Sim Lian JV (Tampines 7) for Rivelle of Tampines, as well as the developers of Tengah Garden Residences and the Skye at Holland joint venture. Pinery Residences by Hoi Hup Sunway Tampines Residential won Best Selling Mixed Use Development.

The competitively judged categories were decided by an independent panel chaired by FollowTrade CEO, Roy Ling, with HLB supervising the judging. Top Singapore winners in eligible categories may advance to the Grand Final in Bangkok on Dec 11 to compete for the Best in Asia titles.

-- BERNAMA

UNI-FUELS TO CONSOLIDATE SHARES 1-FOR-10 FROM NOV 3

KUALA LUMPUR, Oct 30 (Bernama) -- Singapore-headquartered marine fuel solutions provider, Uni-Fuels Holdings Limited (Uni-Fuels) will consolidate its shares at a ratio of one-for-10, effective Nov 3, 2026.

The Nasdaq-listed company’s Class A ordinary shares are expected to begin trading on a post-consolidation basis when the market opens on Nov 3. They will continue to trade under the symbol “UFG”, with a new CUSIP number, G92Y4F134.

In a statement, Uni-Fuels said the consolidation will reduce the company’s issued Class A shares from 9,815,000 to about 981,500 and its Class B shares from 22,650,000 to about 2,265,000.

Every 10 shares, or part thereof, will be combined into one share, with fractional shares rounded up to the next whole share. All outstanding stock options, warrants and other rights to buy Class A shares will be adjusted proportionately.

The company is authorised to issue 500 million shares, comprising 450 million Class A and 50 million Class B ordinary shares.

Shareholders holding shares through a bank, broker or other nominee will have their holdings adjusted automatically to reflect the consolidation.

-- BERNAMA

SOUTH KOREA’S KB INSURANCE RATINGS AFFIRMED EXCELLENT - AM BEST

KUALA LUMPUR, Oct 30 (Bernama) -- Global credit rating agency, AM Best has affirmed South Korea’s KB Insurance Co Ltd (KBI) financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent), with a stable outlook.

These credit ratings (ratings) reflect KBI’s strong balance sheet, adequate operating performance, neutral business profile and appropriate enterprise risk management, as well as support from its parent, KB Financial Group Inc (KB Group), AM Best said in a statement.

KBI’s risk-adjusted capitalisation is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio, while its local solvency ratio is largely in line with the industry average and demonstrates an adequate buffer above the minimum regulatory requirements.

AM Best calculated KBI’s adjusted financial leverage at 8.2 per cent as of June 2026 and said the company has good access to capital markets and a conservative investment strategy.

KBI’s return on equity and combined ratios are broadly in line with domestic peers, but profitability in its main long-term insurance business remains under pressure from rising medical claims and competition. Its auto insurance business recorded underwriting losses in 2025 because of base rate cuts and stronger competition.

KBI is South Korea’s fourth-largest non-life insurer, with a stable market share of approximately 13 per cent, while its overseas operations remain modest, and it plans to explore further international opportunities with a measured approach to diversify earnings and sustain long-term growth.

As a wholly owned subsidiary and the only non-life insurer in KB Group, one of South Korea’s largest financial holding companies, KBI is strategically important to its parent and has received explicit capital support since joining the group in 2015.

AM Best said the ratings could be lowered if KBI’s balance sheet weakens significantly or if support from KB Group is reduced and could be raised if its operating performance consistently outperforms industry peers.

-- BERNAMA