News & Events

India’s Bajaj Auto announced plans to take control of Austrian motorcycle maker KTM AG through an €800 million ($906.2 million) debt package. The deal marks a significant shift for Bajaj, transforming its role from a minority investor to a strategic leader in KTM’s operations.

KTM AG, which manufactures KTM and Husqvarna motorcycles, filed for court restructuring in November due to severe financial difficulties. Under the rescue plan, Bajaj Auto has already invested €200 million and will contribute an additional €600 million to settle creditor claims and revive operations. Creditors are expected to receive 30% of their claims in cash by May 23. The Indian motorcycle manufacturer will gain control through its unit, Pierer Bajaj AG, leading to indirect control of KTM’s parent company, Pierer Mobility AG. Bajaj Auto holds a 37.5% stake in KTM through its subsidiary, though the final ownership percentage post-deal remains undisclosed.

The two companies have an existing partnership in India for joint product development. This strategic move aims to align governance and inject fresh capital to restore KTM’s operations.

Read the original article here: https://www.msn.com/en-us/money/companies/india-s-bajaj-auto-to-take-control-of-ktm-with-906-million-debt-deal/ar-AA1FfJV5?ocid=BingNewsBrowse

South African Rayno Nel has made history by becoming the first African champion and rookie winner since 1997 at the World’s Strongest Man competition in Sacramento, California. In a dramatic finale, the 30-year-old former rugby player clinched victory by just half a point over three-time champion Tom Stoltman.

Nel, standing 6’3″ and weighing 326 pounds, dominated the first day of finals but faced his biggest challenges in the final events – the 531-pound Flintstone Barbell and the Atlas Stones. Despite these being his weakest events, he secured a crucial third-place finish in the Atlas Stones to claim the title.

The victory marks the first time in the competition’s 48-year history that the title has gone to a competitor from outside Europe or North America. Nel, who only began competing in strongman events three years ago after his rugby career, credited his success to training at Terence Bosman’s facility near his home in South Africa.

Read the original article here: https://www.msn.com/en-us/sports/other/rayno-nel-wins-2025-worlds-strongest-man-becoming-first-champion-from-africa/ar-AA1F1ikj?ocid=BingNewsVerp

Malaysia has announced strategic partnerships with leading financial institutions to support its special economic zone in Johor, bordering Singapore. Economy Minister Rafizi Ramli revealed the initiative during the Johor-Singapore Special Economic Zone dialogue.

The project has secured letters of intent from major banks, including Bank of America, HSBC, Sumitomo Mitsui Banking Corp, CGS International Securities, Maybank, and CIMB Bank. Negotiations are ongoing with a European bank. These partnerships aim to stimulate private sector participation through capital pooling.

Established in January 2025, the Malaysia-Singapore initiative targets 50 projects and 20,000 skilled jobs within five years. A comprehensive blueprint is scheduled for release by year-end. Both countries will establish infrastructure funds to support businesses in the zone. Johor’s Chief Minister, Onn Hafiz Ghazi, reported impressive investment figures, with RM27.4 billion ($6.4 billion) secured in Q1 2025 and RM23 billion more anticipated. The state expects to exceed RM50- 60 billion in total investments this year, surpassing 2024’s RM48.5 billion.

Read the original article here: https://www.msn.com/en-us/money/economy/malaysia-partners-with-banks-to-boost-investments-in-johor-special-economic-zone/ar-AA1F1QYo?ocid=BingNewsBrowse