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Liangshan, China: 300,000 People Celebrate a Torch Carnival Night

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XICHANG, CHINA – Media OutReach Newswire – 11 August 2026 – At 8 p.m. local time on August 8, along the eastern extension of Hangtian Avenue in Xichang City, Liangshan Yi Autonomous Prefecture, China, 86 bonfires were lit, and tens of thousands of torches were raised in unison, turning the 3.2-kilometer-long street instantly into an ocean of joy. The lively Yi ethnic music set the 300,000-strong crowd ablaze with excitement at the scene, as people of all ages joined hands, performed traditional Yi folk dances around the bonfires, and revelled in the fiery carnival.

Performances at the Torch Carnival Night

That night’s carnival was the centerpiece of the 2026 Liangshan Yi Torch Festival and marked the climax of the entire celebration. This year’s edition featured 98 distinctive cultural tourism events held simultaneously across all 17 counties and cities of Liangshan, creating a spectacular midsummer celebration.

Yi Ethnic Costume Fashion Show at the Torch Festival
Yi Ethnic Costume Fashion Show at the Torch Festival

On July 19, Puge County, serving as the “first stop” of the 2026 Liangshan Yi Torch Festival’s cultural tourism program, presented the traditional fire-lighting ceremony in its entirety alongside folk performances that offered visitors an authentic glimpse into the rich heritage of Yi culture. The celebrations then continued in Butuo County, Yuexi County, Huidong County, Huili City, and Dechang County, among others, featuring traditional costume showcases, intangible cultural heritage workshops, Yi ethnic music days, and other cultural tourism activities. The events will run through the end of August.

Liangshan Prefecture is home to the largest Yi ethnic community in China. Among the many traditional festivals of the Yi people, the Torch Festival stands out as the grandest, richest, and most vibrant celebration, drawing the largest crowds and showcasing the most distinctive Yi traditions.

During the height of summer, Liangshan enjoys a pleasant temperature averaging around 20°C. The prefecture is home to 20 ICH items at the national level and boasts 81 officially rated tourist attractions, including Qionghai Lake–Lushan Mountain, Lugu Lake, and Luoji Mountain. Here, breathtaking natural landscapes blend harmoniously with the profound cultural heritage of the Yi people. During the 2026 Spring Festival, May Day, and Dragon Boat Festival holidays, Liangshan recorded a year-on-year growth of over 10% in both tourist arrivals and total tourism consumption.

Hashtag: #LiangshanYiTorchFestival #TorchFestival #Liangshan

The issuer is solely responsible for the content of this announcement.

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Payment delays continue to strain UAE businesses as trade credit expands

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DUBAI, UAE – Media OutReach Newswire – 11 August 2026 – Trade credit remains essential for driving growth and strengthening customer relationships in the UAE. However, the latest Atradius Payment Practices Barometer reveals that persistent payment delays and rising default concerns are putting increasing pressure on liquidity and cash flow management.

UAE businesses are leaning more heavily on trade credit to stay competitive. Nearly half of respondents report extending more credit in recent months, with credit sales now making up an average of 47% of B2B transactions. While greater payment flexibility supports sales and relationships, it also heightens payment risk.

Payment performance remains challenging. Around two in five B2B invoices are paid late, and substantially more businesses report a deterioration in payment behaviour than an improvement. Industrial and construction sectors are the most affected, due to the longer and more complex payment cycles typical of these industries.

Customer cash flow constraints are the leading cause of delays (49%), followed by banking processes, internal approvals, and goods or services not being delivered as agreed. As a result, 47% of companies face higher financing needs, 46% report reduced liquidity headroom, and 38% struggle with cash flow planning. Concerns are also growing that overdue receivables will turn into bad debt.

Looking ahead, customer default risk remains a major concern. Nearly half (46%) of respondents expect default risk to rise further, while 39% anticipate it will stay elevated. This cautious outlook highlights the need for continued vigilance.

“Trade credit continues to play a vital role in supporting business growth across the UAE, but companies are having to balance expanding trade opportunities with a more challenging payment environment,” said Roeland Punt, CEO of Atradius Middle East. “Payment delays remain widespread and concerns about customer default are increasing, placing greater pressure on liquidity and cash flow planning. As a result, many businesses are strengthening their approach to credit risk management, combining closer customer monitoring with measures that help safeguard cash flow and support resilience.”

To address these pressures, companies are stepping up credit controls and increasing their use of risk mitigation tools. This includes more rigorous customer assessments, close monitoring of payment behaviour, stronger collections processes, and the use of credit insurance. Credit insurance is particularly common among larger industrial businesses.

Businesses are also mindful of broader macroeconomic risks. Slower economic growth, inflation, cost pressures, and rising interest rates are expected to continue influencing B2B payment behaviour. Despite these headwinds, profitability expectations remain resilient, with a strong majority of businesses reporting rising profit margins even amid ongoing payment risks and elevated credit pressures.

Atradius conducted the annual survey during the second half of Q2 2026. Results should be interpreted with this timing in mind, as market conditions may have evolved. Responses were gathered from businesses across the UAE across the industrial, construction, trade, and services sectors.

Hashtag: #Atradius #CreditInsurance #B2BPayment #CreditRisk #NonPayment #BadDebt


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VinSpace Announces Launch Contract with SpaceX, Marking a New Milestone for Vietnam’s Space Industry

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HANOI, VIETNAM – Media OutReach Newswire – 11 August 2026 – VinSpace Joint Stock Company (“VinSpace”) announced the signing of a launch contract with U.S.-basedSpaceX. The agreement marks a significant milestone in VinSpace’s roadmap to build comprehensive aerospace capabilities, advancing its mission to foster the development of Vietnam’s space industry.

VinSpace’s satellites will launch aboard a Transporter rideshare mission in 2027 as part of SpaceX’s rideshare program.

Under the agreement, VinSpace’s satellites will launch aboard a Transporter rideshare mission in 2027 as part of SpaceX’s rideshare program, which enables multiple customers to share a single launch. VinSpace is responsible for the research, development, manufacturing and on-orbit operation of its satellites. The satellites will support the on-orbit demonstration of in-house developed technologies, strengthen VinSpace’s satellite engineering capabilities, and pave the way for future commercial space applications.

The agreement provides an important foundation for VinSpace’s first satellite missions. In April 2026, the company announced its plan to develop and launch its first satellites into orbit in 2027.

The agreement represents another important step in VinSpace’s long-term vision to become a full-stack aerospace company, developing capabilities across the entire space value chain – from satellite design and manufacturing to Assembly, Integration and Testing (AIT), launch mission management, satellite operations, and downstream space data products and services.

Selecting SpaceX as its launch service provider reflects VinSpace’s strategy of working with the world’s leading technology companies to realise its first space missions.

Mr. Thu Vu, Chief Executive Officer of VinSpace, shared that:“Reliable access to space is fundamental to turning satellite innovation into operational missions. This contract with SpaceX is an important milestone in VinSpace’s long-term strategy to help build Vietnam’s space ecosystem and strengthen the country’s position within the global space economy.”

VinSpace’s upcoming satellite missions are expected to provide an important platform for in-orbit technology validation, accelerate the development of Vietnam’s aerospace talent, deepen international collaboration, and support the commercialisation of space technologies. As satellites, low Earth orbit (LEO) constellations and other space technologies become increasingly important to economic growth, infrastructure resilience and national technological competitiveness, VinSpace is committed to strengthening Vietnam’s sovereign space capabilities while delivering commercially sustainable solutions for customers across Vietnam, Southeast Asia and international markets.

Hashtag: #VinSpace

The issuer is solely responsible for the content of this announcement.

About VinSpace

VinSpace, a member of the Vingroup ecosystem, is building towards becoming Vietnam’s leading full-stack aerospace company. Our ambition is to develop capabilities across the entire space value chain, from satellite systems and ground infrastructure to geospatial intelligence, satellite connectivity and downstream applications.

Through strategic partnerships with leading global technology providers, alongside long-term investment in research, development and commercialisation, VinSpace delivers space-enabled solutions for infrastructure, energy, environmental management, logistics and smart cities.

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“Boundless Creativity, Connecting Youth” China–Indonesia Youth Cultural Exchange Series Held in Jakarta

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JAKARTA, INDONESIA – Media OutReach Newswire – 10 August 2026 – On August 6, the “Boundless Creativity, Connecting Youth” China–Indonesia Youth Cultural Exchange Series was held in Jakarta, Indonesia. The event was jointly hosted by the China Intercontinental Communication Center (CICC) and Indonesia’s GARUDA TV, with co-organized by Luoyang Radio and Television Media Group Co., Ltd. and Coocaa, a brand under Skyworth Group. More than 800 people attended the opening ceremony. Among them were representatives from government agencies, cultural circles, news media, and creative industries, as well as youth delegates from higher education institutions across both nations.

At the event, the exhibitions Her Bloom: A Digital Cultural Heritage Exhibition on Luoyang, the Divine Capital and the Indonesian leg of Emerging Forces, Boundless Horizons: A Global Touring Exhibition Series Featuring Young Chinese Artists officially opened. The event also launched a China–Indonesia media organization, FAST Media Alliance, the Indonesian broadcast of the micro-drama Her Bloom, and the China–Indonesia Visual Project—Nanyang Film Festival, among other collaborative initiatives.

In her remarks, Anindita Kusuma Listya, Special Advisor to the Minister of Culture for Cultural Diplomacy and Cultural Industries at Ministry of Culture of Indonesia, expressed her strong appreciation for the event’s focus on youth connectivity, digital innovation, and media co-creation. She noted that Indonesia has consistently attached great importance to cultural exchanges and cooperation with China, encouraging young people, arts professionals, media organizations, and cultural and creative enterprises from both countries to engage in regular, in-depth, and multidimensional collaboration. As nations with diverse civilizations, Indonesia and China enjoy vast potential for cooperation and closely aligned development needs in cultural heritage preservation, digital cultural and creative industries, film and television production, and youth innovation.

Wang Siping, Counsellor at the Chinese Embassy in Indonesia, said in his remarks that cultural exchanges and cooperation between China and Indonesia have yielded fruitful results in recent years, while people-to-people exchanges have continued to gain momentum. He expressed the hope that young people from both countries would engage more frequently and that more events such as “Boundless Creativity, Connecting Youth” would be organized and widely attended. China is ready to pursue more cooperation with Indonesia and share more opportunities. China also stands ready to work hand in hand with Indonesia to cultivate the fertile ground of people-to-people exchanges, expand channels for youth engagement, strengthen the “people-to-people pillar” of bilateral relations, and advance the high-quality building of a China–Indonesia community with a shared future.

Al Busyra Basnur, Chairman of the Indonesia–China Friendship Association, noted in his remarks that both China and Indonesia possess abundant pools of young talent. Cooperation among outstanding young people from the two countries, he said, will not only deepen bilateral relations but also inject fresh momentum into regional prosperity, technological progress, and the building of a more peaceful and closely connected world. He expressed his hope of holding in-depth discussions with all parties during the subsequent activities on such issues as advancing China–Indonesia relations, talent development, and educational exchanges, with a view to identifying practical avenues for cooperation.

Arianto Surojo, Consul General of Indonesia in Guangzhou, said that the event was innovative in concept and far-reaching in significance, providing a high-level platform for cultural exchanges between Indonesia and China in the new era. Youth-oriented, digital, and innovative forms of exchange such as this, he noted, enable people—especially young people—in both countries to gain a more direct understanding of one another and forge deeper connections. They also help elevate cultural exchanges between Indonesia and China from the superficial to the substantive, enriching the content of bilateral people-to-people cooperation. “When young people thrive, nations thrive; when young people are strong, nations are strong,” he said. “Let us embrace the spirit of exploration and innovation and jointly write a new chapter in the friendship between our two countries.”

Li Mian, Deputy President of CICC, said that CICC has long worked with media organizations in Southeast Asia to promote cultural exchanges. Over the years, CICC has actively advanced audiovisual cooperation with mainstream media outlets in Indonesia and elsewhere in Southeast Asia through the television program UPanda Cinema. Through this event, CICC has launched such collaborative projects as the China–Indonesia media organization, FAST Media Alliance, the broadcast of the micro-drama Her Bloom, and the China–Indonesia Visual Project. These initiatives aim to tell the story of China–Indonesia friendship, share digital technologies and high-quality resources, and promote deeper, more substantive cooperation between the two countries.

Atika Suri, Editor-in-Chief of Indonesia’s GARUDA TV, said that the event, focusing on youth exchange and cultural empowerment, carried out a rich array of activities, including digital cultural heritage exhibitions, joint visual exhibitions, and touring exhibitions of young artists. It not only carries forward the traditional friendship between Indonesia and China, she said, but also represents an active exploration of new models and pathways for people-to-people cooperation in the new era.

Li Jing, Vice President of Coocaa, a Skyworth Group company, and CEO of Coolita, said that emerging technologies such as artificial intelligence, smart television, and FAST are driving the global media industry into a new digital era, creating fresh opportunities for cultural communication and international media cooperation. During the event, Coolita and CICC jointly launched the China–Indonesia media organization, FAST Media Alliance. Going forward, they will work with Indonesian media organizations and partners such as Tencent Cloud to explore innovative models in artificial intelligence, FAST, and digital content distribution; drive the digital transformation of traditional media; and promote innovation in the digital cultural industries of both countries.

The event also featured themed roundtable discussions bringing together esteemed institutions and figures. Participants included China National Archives of Publications and Culture, Tencent Cloud, “Honor of Kings”, the acting head of the Institute of Social Sciences and Humanities (ISSH) at Indonesia’s National Research and Innovation Agency, the University of Indonesia, LSPR Institute of Communication and Business, the Jakarta Film Commission, the renowned game studio Anantarupa Studios, and the visual creative studio Mono Studio. They were joined by Indonesian contemporary painting master Sidik Martowidjojo (Ma Yongqiang) and Chinese young artist Ren Zhe.

The issuer is solely responsible for the content of this announcement.

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