Arbitral Tribunal Reaffirms Korea’s Liability to Elliott for Corrupt Intervention in 2015 Samsung Merger

Elliott awarded approximately US $113 million

Elliott hopes the ROK will finally honor the Award as interest continues to accrue, adding to the Korean taxpayers’ bill

WEST PALM BEACH, Fla., Sept. 30, 2026 /PRNewswire/ — Elliott Investment Management L.P. (“Elliott”), today issued the following statement:

On Sept. 30, 2026, the arbitral tribunal (the “Tribunal”) constituted under the U.S.-Korea Free Trade Agreement (the “Treaty”) issued a supplemental award reaffirming that the Republic of Korea’s (“ROK”) corrupt manipulation of a shareholder vote to approve the controversial Samsung merger in 2015 breached the Treaty and caused Elliott’s losses. The Tribunal reinstated the relief previously awarded to Elliott in June 2023 and included the additional costs of the unnecessary proceedings caused by the ROK, granting Elliott a relief now amounting to approximately US $113 million representing damages, interest, and legal fees and costs. This represents an increase of US $18.9 million (including the ROK’s own legal costs) to the Korean taxpayers’ bill caused by the ROK’s non-substantive, not credible, dilatory challenges to the Award.

The Tribunal’s original award (the “Award”), issued in June 2023, found that the ROK breached the Treaty when its Presidential Blue House and the Ministry of Health and Welfare directed the National Pension Service’s (“NPS”) decision to approve the 2015 merger of Samsung C&T and Cheil Industries. As a result of the merger, Elliott suffered substantial damages as a minority shareholder of Samsung C&T.

The ROK challenged the Award in the English Court on a purely technical jurisdictional basis. The English Court in turn “with reluctance” remitted the case to the Tribunal to clarify whether the ROK had caused Elliott’s losses independently of the NPS’s legal status. In response, the Tribunal found that, but for the ROK’s unlawful intervention, the NPS would have voted against the merger of Samsung C&T and Cheil Industries. The ROK had indeed caused those losses regardless of the NPS’s legal status.

Elliott welcomes the Tribunal’s decision and hopes the ROK will finally honor the Award. Its numerous attempts to challenge and subvert the Award have now proven futile. More than 11 years have passed since the ROK’s breach and more than three since the Tribunal first found the ROK liable. Interest has been accruing for all these years and will continue to accrue at a rate of more than US $10,000 every day. Every further move of resistance, including reliance on evidence tainted by its own breach, which the Tribunal rejected, adds to the substantial burden already borne by Korean taxpayers for the conduct of government officials whom Korea’s own prosecutors investigated and Korea’s own courts convicted.

Korean shareholders and pension holders were also harmed by the same conduct that victimized Elliott, as the NPS’s coerced vote allowed the impoverishment of Korean citizens for the sake of the enrichment of the Lee family. Resolving this matter would allow the ROK to close a chapter of chaebol coddling that exemplifies why the ROK’s capital market suffers from the “Korea Discount.” Moving forward as a venue where shareholders’ rights are respected – which we believe is the path Korea is trying to take – will allow Korea to build a reputation as the fair, transparent, reliable and developed capital market that its citizens and market participants deserve.

More information regarding this matter can be found on the website of the Permanent Court of Arbitration by following the link below:

https://pca-cpa.org/en/cases/197/ 

About Elliott

Elliott Investment Management L.P. (together with its affiliates, “Elliott”) manages approximately $80.3 billion of assets as of June 30, 2026. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

Media Contacts:

London

Alice Best

Elliott Advisors (UK) Limited

T: +44 20 3009 1715

abest@elliottadvisors.co.uk 

Seoul

Jin Kim

Nine Crosby

T: +82 (2) 866 9455

jinkim@ninecrosby.com 

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ROYAL CARIBBEAN REVEALS 2028 SUMMER LINEUP OF ALASKA VACATIONS

Vacationers are in for unforgettable adventures to The Last Frontier with 7-night vacations across four Royal Caribbean ships and extended land Cruisetour experiences

MIAMI, Sept. 30, 2026 /PRNewswire/ — Royal Caribbean has unveiled its 2028 Alaska lineup, offering more ways for vacationers to experience the beauty of the Last Frontier on Anthem, the newly amplified Ovation, Serenade and Voyager of the Seas beginning in April 2028. Adventurers can explore Alaska’s majestic glaciers, diverse wildlife and coastal communities on 7-night vacations departing from Seattle, Seward and Vancouver, with ways to extend select journeys on multi-night Cruisetour land experiences. The 2028 lineup of Alaska vacations is now open to book on Royal Caribbean’s website for Crown & Anchor Society loyalty members, ahead of the official opening on Thursday, Oct. 1.

From visiting Mendenhall Glacier in Juneau and exploring the historic charm of Skagway to taking in the rugged landscapes of Icy Strait Point, adventurers can discover the state’s remarkable wildlife, rich heritage and awe-inspiring scenery on bold vacations for all ages. Guests can take in sweeping views of glaciers, mountains and fjords from the all-glass North Star observation capsule on Anthem and Ovation, while enjoying experiences in between destinations like the RipCord by iFly skydiving simulator, bumper cars and roller skating at SeaPlex, and live entertainment at the Royal Theater and Music Hall.  

Alaska Summer 2028 Highlights

• Anthem of the Seas – From Seward and Vancouver
  
  From May to September, Anthem will combine Alaska’s iconic coastlines with immersive inland experiences on 7-night vacations and 2- to 6-night Cruisetours that extend the journey before or after the vacation, including adventures to Denali National Park. Vacationers can marvel at one of Alaska’s most spectacular natural wonders at Hubbard Glacier and explore Ketchikan for fishing, kayaking, hiking and zip lining through forests. Back onboard, travelers can take in panoramic views from the North Star observation capsule, enjoy action-packed experiences at SeaPlex – the largest indoor activity space at sea – and refuel at Jamie’s Italian for Tuscan family-style dishes and Johnny Rockets for American classics.

• Ovation of the Seas – From Seattle
  
  The newly amplified Ovation will bring vacationers to Alaska’s natural wonders on 7-night adventures from Seattle between May and September. Vacationers can discover the lush landscapes and rich heritage of Sitka, Skagway and Juneau, along with the breathtaking waterfalls, valleys and mountain views at Endicott Arm and Dawes Glacier. On Ovation, vacationers can make memories between destinations with skydiving at the Ripcord by iFly simulator, dancing at the brand-new Sound Cellar and celebrating with tropical cocktails at the Pesky Parrot tiki bar. To refuel, there’s a variety of international cuisine to indulge in from Italian favorites at Giovanni’s Italian Kitchen, premium cuts at Chops Grille and hibachi at Izumi Teppanyaki.

• Serenade of the Seas – From Vancouver
  
  On Serenade, vacationers can explore Alaska’s rugged mountains, temperate rainforests and wildlife-rich coastline on 7-night getaways from Vancouver from May to September. Adventures await with the longest and highest zipline at Icy Strait Point, hiking in Prince Rupert, British Columbia, and browsing the historic district of Juneau. On deck, adventurers can take on the rock-climbing wall, kick back with poolside movie nights under the stars and enjoy live music at the Schooner Bar. Plus, with exteriors made from over three acres of glass, Serenade’s unique, light-filled design gives way to the grandeur of the Alaskan surroundings from the comfort of the ship.

• Voyager of the Seas – From Seattle
  
  From April to September, vacationers on Voyager can experience 7-night getaways from Seattle to Alaskan towns of Sitka, Juneau and Skagway and Canada’s Victoria, British Columbia. Adventurers can visit national historic sites of the Last Frontier and take in postcard-perfect views of the surrounding mountains and coastal landscapes, while keeping an eye out for wildlife like grizzly bears, harbor seals and bald eagles. Back on Voyager, families can stay active with ice skating and laser tag at Studio B, mini golf and arcade games, while adults can unwind at the Solarium fully climatized pool deck.

Vacationers traveling from Seward can enjoy a seamless beginning-to-end journey with Royal Caribbean Group and the Alaska Railroad’s new state-of-the-art terminal. Designed to elevate every step of the vacation experience, the facility offers stunning mountain views, an effortless arrival and embarkation process, and convenient access to the neighboring Alaska Railroad station, making it easier than ever to explore more of Alaska’s breathtaking destinations. The investment also advances Royal Caribbean Group’s corporate responsibility SEA the Future initiative by creating lasting benefits for the local community, from providing a year-round gathering space for sports, youth programs and other group activities, to hosting events such as the recent award ceremony held for local entrepreneurs who participated in the bespoke small business accelerator program Port Partners.

Vacationers can learn more about the upcoming Alaska adventures on Royal Caribbean’s website.

About Royal Caribbean

Royal Caribbean, part of Royal Caribbean Group (NYSE: RCL), has delivered memorable vacations for more than 50 years. The cruise line’s game-changing ships and signature destinations revolutionize vacations with industry-leading innovations and an all-encompassing combination of experiences, from thrills and ways to chill, to dining and entertainment, for every type of family and vacationer. Voted “Best Cruise Line Overall” for 23 consecutive years in the Travel Weekly Readers Choice Awards, Royal Caribbean makes memories with adventurers across more than 300 destinations in 80 countries on all seven continents, including Perfect Day CocoCay in The Bahamas and Royal Beach Clubs in Paradise Island and Santorini, plus Royal Beach Club Lelepa coming soon.

Media can stay up to date by following @RoyalCaribPR on X and visit www.RoyalCaribbeanPressCenter.com. For additional information or to book, vacationers can visit www.RoyalCaribbean.com, call (800) ROYAL-CARIBBEAN or contact their travel advisor.

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CJ 4DPLEX and Cinemark Announce Expansion of 20 New SCREENX Locations Across the U.S. and Latin America

Agreement adds 17 SCREENX auditoriums in the U.S. and three in South and Central America

Six U.S. locations slated to open in 2026, bringing Cinemark’s domestic SCREENX footprint to 30 in time for Avengers: Doomsday

BURBANK, Calif., Sept. 30, 2026 /PRNewswire/ — CJ 4DPLEX, the world’s leading producer of premium cinema formats and immersive theater experiences, and Cinemark, one of the world’s largest and most influential theatrical exhibition companies, today announced an agreement to add 20 new SCREENX auditoriums across Cinemark’s global circuit, including 17 in the U.S. and three in Latin America. The expansion builds on a partnership that began in 2022 and will further extend the immersive panoramic format to moviegoers throughout the Americas.

“As consumer demand for premium, immersive moviegoing experiences continues to grow, Cinemark remains focused on bringing our guests the most exciting and engaging ways to enjoy movies on the big screen,” said Sean Gamble, Cinemark’s President and CEO. “We are pleased to expand our SCREENX footprint to additional Cinemark locations across the U.S. and Latin America as part of our ongoing commitment to enhancing the theatrical experience through innovative entertainment options. This investment further strengthens our premium amenities portfolio, giving moviegoers even more reasons to choose Cinemark.”

“SCREENX continues to grow as more filmmakers and exhibitors embrace its creative possibilities,” said Jun Bang, CEO of CJ 4DPLEX. “The response to Spider-Man: Brand New Day, our first ‘Shot for SCREENX’ film, demonstrates the power of creating an experience specifically for the format. Our expansion with Cinemark will bring SCREENX to more audiences as we build on that success. We plan to release at least four ‘Shot for SCREENX’ films with major Hollywood studios in 2027.”

Six of the new U.S. auditoriums are scheduled to open in 2026, expanding Cinemark’s domestic SCREENX footprint to 30 in time for Avengers: Doomsday. The expansion will also introduce SCREENX’s panoramic viewing experience to audiences in new states.

“Cinemark has been a critically important partner in SCREENX’s growth since our first locations opened together in 2022,” said Don Savant, President and CEO of CJ 4DPLEX Americas. “This agreement reflects Cinemark’s continued investment in distinctive theatrical experiences. We are particularly excited to bring SCREENX to Cinemark’s Playa Vista theater, providing a convenient location for studio executives, filmmakers and talent on the Westside of Los Angeles to experience the format’s creative possibilities firsthand.”

About CJ 4DPLEX

CJ 4DPLEX is a proud subsidiary of CJ Group, Korea’s leading lifestyle and culture company. Headquartered in Sangam, Seoul, CJ 4DPLEX designs and develops immersive cinema technologies that inspire audiences worldwide. Guided by creativity, technology and cultural vision, the company is committed to redefining the future of cinema.

CJ 4DPLEX is redefining the moviegoing experience across markets worldwide, working with leading exhibitors to deliver SCREENX, 4DX and ULTRA 4DX to audiences everywhere. From the United States to Europe, Asia and the Middle East, its global presence continues to grow, driven by a mission to make immersive storytelling the standard in cinema.

About SCREENX

SCREENX is the world’s most immersive platform, breaking free from the boundaries of a single screen to place audiences at the heart of the story. With visuals flowing seamlessly across the walls, SCREENX connects film and space, creating moments of natural immersion. Every sequence is curated to reflect the director’s vision, turning each film into an experience only SCREENX can deliver.

About Cinemark Holdings, Inc.

Cinemark Holdings, Inc. (NYSE: CNK) provides extraordinary out-of-home entertainment experiences as one of the largest and most influential theatrical exhibition companies in the world. Based in Plano, Texas, Cinemark makes every day cinematic for moviegoers across nearly 500 theaters and more than 5,500 screens, operating in 42 states in the U.S. (301 theaters; 4,219 screens) and 13 South and Central American countries (194 theaters; 1,401 screens). Cinemark offers guests superior sight and sound technology, including Barco laser projection and Cinemark XD, the world’s No. 1 exhibitor-branded premium large format; industry-leading penetration of upscale amenities such as expanded food and beverage offerings, Luxury Lounger recliners and D-BOX motion seats; top-notch guest service; and award-winning loyalty programs such as Cinemark Movie Club. All of this creates an immersive environment for a shared, entertaining escape, underscoring that there is no place more cinematic than Cinemark. For more information, visit https://ir.cinemark.com.      

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Crisis • Resilience • Evolution — Building a Tourism Economy for a Shared Future

The 12^th Global Tourism Economy Forum • Macao 2026

To be held on 15 to 17 October

MACAO, Sept. 30, 2026 /PRNewswire/ — How does the global tourism economy turn its scale and reach into a force for lasting transformation? The 12^th Global Tourism Economy Forum (GTEF) will return to its founding city Macao, China, from 15 to 17 October 2026. Bringing together political and business leaders, academic elites, and representatives from international organisations across five continents, the Forum will revolve around the theme “Crisis • Resilience • Evolution – Building a Tourism Economy for a Shared Future” to collectively address defining questions of our era and chart a blueprint for shared progress.

The global landscape today sees international cooperation facing rigorous tests amid intersecting geopolitical tensions, climate pressures, and global economic uncertainties. Now more than ever, the world needs to break down barriers and foster connection, with the tourism economy serving as a powerful bond that unites communities across geographical divides. As the timeless wisdom observes, “A partnership forged with the right approach defies geographical distance.” According to the latest data from UN Tourism, international tourist arrivals reached a record 1.52 billion in 2025, vividly proving that tourism transcends its role as an economic sector to become a core driving force for mutual learning among civilizations, restoring global trust, and spurring sustainable growth. The decision by the United Nations to designate 2027 as the “International Year of Sustainable and Resilient Tourism” directly addresses this call of our time. 

As a premier flagship event in the global tourism economy sector, the Global Tourism Economy Forum was founded in 2012 and has successfully hosted eleven editions. Having brought together over 15,500 participants across 88 countries and regions, the Forum serves as a vital bridge connecting China with the international community to drive cultural tourism alignment, facilitate trade, and promote mutual learning among civilizations. The newly released 15^th Five-Year Plan for Cultural and Tourism Development by China’s Ministry of Culture and Tourism designates GTEF as a key national strategic platform, explicitly mandating the expansion of its global reach. Following its inclusion in the 14^th Five-Year Plan, being named once again in national strategic planning marks the Forum’s official transition from a Macao-born exchange platform into a key vehicle for China’s high-quality opening-up in cultural tourism, as well as a major contributor to global tourism rules and trends.

Standing at a new historical starting point, the 12^th Global Tourism Economy Forum • Macao 2026 will closely align with five core pillars, namely Resilient Governance, Technology and Innovation, The New Traveller, Culture and Identity, and Sustainable Growth, deeply integrating with Macao’s development strategies. The Forum will explore frontier topics such as global cultural tourism capital deployment, China-Europe and Asia-Pacific connectivity, mountain-dwelling tourism, and investment facilitation. It will also transcend traditional industry boundaries to explore emerging “Tourism+” business models such as AI empowerment, educational tourism, sports IP, cultural heritage revitalisation, and experiential retail, offering forward looking guidance for global industry transformation.

This edition features Spain as the Partner Country to share its mature experiences in destination refined governance, balanced regional development, and sustainable transformation as a model for the global cultural tourism industry. Hainan Province joins as the Featured Province to highlight China’s high-standard opening-up through the launch of island-wide special customs operations for the Free Trade Port alongside expanded visa-free policies. Leveraging the Forum, Hainan and Macao will drive substantive progress in policy complementarity and resource sharing while opening new avenues of cooperation in multi-destination tourism itineraries development, reciprocal visitor flows, and international MICE synergies.

In addition, the Forum features business matching, cultural tourism promotions, and themed dinners. Adopting an integrated “MICE + Delegation Visit” model, the event extends its programming to Macao world heritage culinary tours and wellness tourism site visits in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, opening concrete new channels for Guangdong-Hong Kong-Macao Greater Bay Area supply chain synergy and investment execution.

This edition of the Forum is supported by the Ministry of Culture and Tourism of the People’s Republic of China and the All-China Federation of Industry and Commerce, maintaining long-term strategic partnerships with UN Tourism and the World Travel & Tourism Council (WTTC). It also works closely with leading international tourism organisations, including the Pacific Asia Travel Association (PATA), European Travel Commission (ETC), World Tourism Cities Federation (WTCF), World Tourism Alliance (WTA), International Mountain Tourism Alliance (IMTA), and Sino-International Entrepreneurs Federation (SIEF), continuously building global governance synergy to write a new chapter in sustainable global cultural tourism development.

Reflecting on crises reveals shifting landscapes, building resilience unleashes collective strength, and aiming for breakthroughs drives transformation. The 12^th Global Tourism Economy Forum • Macao 2026 looks forward to joining hands with global stakeholders to navigate challenges with greater ecosystem resilience, forge stronger synergies through deeper cooperation, and lead industry breakthroughs with visionary innovation, shaping an open, inclusive, prosperous, and sustainable future for global cultural tourism.

– END –

About the Global Tourism Economy Forum

The Global Tourism Economy Forum (GTEF), established in Macao SAR in 2012, is a premier international platform dedicated to sustainable tourism development. Serving as an essential bridge between China and the global tourism community, the Forum convenes leaders from government, business, academia, and international organizations to address the sector’s most pressing opportunities and challenges, establishing itself as one of the most influential annual summits in the global tourism economy.

Since inception, GTEF has successfully hosted 11 editions, welcoming more than 15,500 participants from 88 countries and regions, and featuring over 780 internationally renowned speakers to build a high-level network for dialogue and practical cooperation across sectors.

For more details and the latest updates regarding the Forum, please visit https://www.gte-forum.com/en/ or follow the official GTEF social media accounts.

Media Enquiries

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Piramal Pharma Solutions and NP2 to Complete Cyclophosphamide Development Phase Next Month

• Piramal and NP2 are set to complete the drug development phase of the generic cancer drug cyclophosphamide this October.
• The development and manufacturing activities are being conducted at Piramal’s dedicated sterile injectable facility in Lexington, Kentucky.
• This partnership addresses ongoing cyclophosphamide shortages and supply chain risks, safeguarding access to this critical medicine for patients across the U.S.

MUMBAI, India, Sept. 30, 2026 /PRNewswire/ — Piramal Pharma Solutions (“PPS”), a leading global Contract Development and Manufacturing Organization (CDMO) and part of Piramal Pharma Ltd. (“PPL”) (NSE: PPLPHARMA) (BSE: 543635), and its partner NP2, a nonprofit generic drug manufacturer, today announced their plans to finish the drug development phase of the generic cancer drug cyclophosphamide in October. 

Cyclophosphamide, a widely prescribed generic, sterile injectable oncology medicine, is used to treat several cancers, including breast cancer and retinoblastoma, an eye cancer that occurs in young children.

“Advancing to the manufacturing stage is an exciting next step in NP2’s mission to manufacture a steady supply of the life-saving cancer-fighting medicine cyclophosphamide right here in the United States,” said Telly Athanasopoulos, NP2’s Head of Manufacturing. “Today’s announcement is good news for cancer patients and their doctors, who need a safe, reliable supply of cyclophosphamide at stable prices.”

According to a National Comprehensive Cancer Network (NCCN) survey conducted in late August of NCCN member institutions, 100% of respondents are experiencing a shortage of at least one anti-cancer agent and more than 20% of centers are currently in a shortage for five or more cancer medications. One such medicine is cyclophosphamide, which is currently in short supply in the EU and Canada. The top two cyclophosphamide manufacturers, both overseas, account for 92% of U.S. sales, and one currently serves nearly 70% of the U.S. 200 mg ready-to-use solution market., according to Q2 IQVIA sales data.

To combat this issue, NP2 has been conducting cyclophosphamide drug development at PPS’ Lexington site, where it will also manufacture cyclophosphamide, shortening and simplifying the supply chain between the manufacturing plant and cancer patients in the U.S. The Lexington site is currently undergoing an $85 million expansion to increase manufacturing capacity for drugs like cyclophosphamide.

“We are proud to partner with NP2 on this important initiative to strengthen the supply of critical oncology medicines for patients in the United States,” said Peter DeYoung, CEO of Piramal Global Pharma. “With the ongoing expansion of our Lexington facility, we are building a more resilient domestic supply chain and helping to support reliable access to this essential cancer therapy.”

“What we’re seeing with the cyclophosphamide shortages in the EU and Canada is clearly alarming,” said Terri Miller, Executive Director of NP2. “NP2 is committed to manufacturing a steady supply of cyclophosphamide, a life-saving cancer-fighting medicine, in the United States so it’s readily available to patients who need it to battle diseases like lymphoma and leukemia during one of the toughest times of their lives,” said Terri Miller, NP2’s Executive Director.

“The problem NP2 is committed to solve for patients isn’t about the science, it’s about the system,” Miller added. “Consolidation of cancer medicines’ manufacturing capacity overseas keeps cancer patients and their doctors up at night. A reliable U.S.-made supply of cyclophosphamide—a mainstay cancer-fighting medicine—does not exist today. NP2 is building it. We believe patients should be able to focus on fighting their cancer, not fretting about the availability of a life-saving drug they urgently need. That’s what motivates us to move forward,” Miller concluded.

This milestone in the PPS-NP2 partnership brings us closer to a future where patients in the U.S. have secure and reliable access to essential cancer medicines, regardless of geopolitical challenges or global supply chain disruptions. 

About Piramal Pharma Solutions

Piramal Pharma Solutions (PPS) is a Contract Development and Manufacturing Organization (CDMO) offering end-to-end development and manufacturing solutions across the drug life cycle. We serve our customers through a globally integrated network of facilities in North America, Europe, and Asia. This enables us to offer a comprehensive range of services including drug discovery solutions, process and pharmaceutical development services, clinical trial supplies, commercial supply of APIs, and finished dosage forms. We also offer specialized services such as the development and manufacture of highly potent APIs, antibody-drug conjugations, sterile fill/finish, peptide products and services, and potent solid oral drug products. PPS also offers development and manufacturing services for biologics including vaccines and gene therapies, made possible through Piramal Pharma Limited’s subsidiary, Yapan Bio Private Limited.

For more information visit: Piramal Pharma Solutions | LinkedIn | Facebook | X

About Piramal Pharma Limited

Piramal Pharma Limited (PPL) (NSE: PPLPHARMA) (BSE: 543635), offers a portfolio of differentiated products and services through its 17 global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and the Piramal Consumer Healthcare business, selling over-the-counter consumer and wellness products. In addition, one of PPL’s associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market.

For more information, visit: Piramal Pharma | LinkedIn

About NP2

NP2 is a non-profit generic drug manufacturer building a more reliable, affordable, and resilient supply of life-saving medicines starting with mainstay oncology drugs. Its first medicine, a ready-to-use sterile injectable form of cyclophosphamide, is being developed for manufacture in Lexington, Kentucky and is expected to reach market in mid-2028. www.np2.org

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CoW Swap Opens TWAP Orders to Every EOA Wallet, Removing the Safe-Only Barrier

The order type professional trading desks use to limit market impact is now available to any externally owned account (EOA) wallet – no Safe setup required.

LISBON, Portugal, Sept. 30, 2026 /PRNewswire/ — CoW DAO today announced that CoW Swap users can now place, edit, and cancel TWAP (time-weighted average price) orders directly from any externally owned account (EOA) wallet, closing a gap that previously restricted the feature to multisig wallet users.

Price impact is one of the least visible costs of trading – and one of the most expensive. Academic research analyzing over half a million real trades found that for swaps above $100,000, price impact and slippage together account for roughly 77% of the total cost of the trade. The effect isn’t limited to large trades. In the same study, on a thinner-liquidity pair, price impact and slippage made up more than a third of the total cost of trades between $1,000 and $100,000.

TWAP orders address this by splitting a large trade into smaller pieces that execute over set intervals, rather than filling all at once, helping to reduce the price impact a single large order can have. It’s a technique long used by professional trading desks and market makers; and is now available to all users of CoW Swap. 

The feature already counts some of Ethereum’s most closely watched wallets among its users. The Ethereum Foundation has used CoW Swap’s TWAP orders on multiple occasions to convert ETH into stablecoins to fund R&D, grants, and donations without disturbing ETH’s market price – including a 5,000 ETH conversion in April 2026.

Ethereum co-founder Vitalik Buterin has separately used CoW Swap’s TWAP feature for his own ETH-to-stablecoin conversions, including a transaction of more than 3,100 ETH.

Traders use TWAP orders for other reasons, too. TWAP can spread execution across time, giving traders an average execution price rather than relying on the market price at a single moment. And because trades can be scheduled at regular intervals, TWAP can automate recurring strategies – such as buying a fixed amount of an asset every week or month – without requiring the trader to return and place each order manually.

“TWAP has long been a preferred tool for our biggest users,” says Anna George, CoW DAO’s co-founder. “But our ambition was to be able to build tools that anyone can use – be they a big trader or small. Rolling out TWAP to every EOA wallet means millions can now split their trades and lower their price impact, effortlessly.”

With the update, CoW Swap handles the timing and execution automatically once an order is placed – funds remain in the trader’s own wallet for the duration, and every fill still respects the price protection the trader sets, so an order won’t execute outside the range they’ve defined.

The change is live now on swap.cow.fi for all supported EVM chains.

About CoW Protocol

CoW DAO develops the most user-protective products in DeFi. Its products, including CoW Swap are class leaders in intent-based DeFi, enabling gasless, MEV-protected swaps across major chains through solver competition and batch auctions – powered by CoW Protocol. Since launch, CoW Protocol has processed over $200B in user trades, and saved more than $1.5 billion in extracted value and returned it to users. Learn more at https://cow.fi.

Media Contact

Matt Hussey

Content Marketing Manager

matt@cow.fi

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Odisha Poll Panel Begins Groundwork For 2027 Panchayat, Urban Elections

Bhubaneswar, Sept. 30 (UDN): The Odisha State Election Commission has stepped up preparations for the 2027 Panchayat and Urban Local Body elections, organising a state-level training programme for officials involved in the electoral process.

The training programme was held under the chairmanship of State Election Commissioner Madhusudan Padhi, with senior officials from districts, blocks and urban local bodies taking part.

Additional District Collectors, Deputy District Collectors, District Panchayat Officers, Assistant and Deputy Commissioners, Executive Officers, Block Development Officers and BLO Supervisors attended the programme.

The sessions focused on key aspects of election preparedness, including preparation and revision of electoral rolls, field-level verification, election management and administrative procedures.

Addressing the officials, SEC Madhusudan Padhi stressed the need for accuracy, transparency and accountability throughout the election process. He also called for electoral services that are accessible and convenient for citizens.

Door-to-Door Verification Gets Special Focus

A major focus of the training was the door-to-door verification of electoral rolls. Field officials were instructed to ensure that eligible voters who may have been left out are included in the rolls and that errors relating to names, addresses and other voter details are corrected in accordance with the rules.

Officials were also directed to take appropriate action regarding voters who are found to be ineligible or absent during the verification exercise.

The Commission emphasised that accurate electoral rolls are essential for ensuring an inclusive election process and called for thorough house-to-house verification at the field level.

Officials Briefed On Panchayat, Municipal Poll Preparations

The programme also highlighted the importance of coordination among district, block and urban-level officials to complete election-related assignments within the prescribed timelines.

Municipal Director Arindam Dakua briefed participants on the door-to-door survey process for municipal elections, while Joint Secretary of the Panchayati Raj and Drinking Water Department Surya Narayan Dash discussed key aspects of preparations for Panchayat elections.

Officials involved in pilot surveys also shared their field experiences. Bhubaneswar Deputy Collector Minoranja Sahu, Balipatna GPDO Haraprasad Mohanty and BLO Supervisor Sudhakar Behera spoke about the practical challenges and experiences encountered during field-level verification.

A question-and-answer session was held at the end of the training, allowing participating officers to seek clarification on electoral surveys and voter-list preparation.

The State Election Commission said coordinated field-level action and accurate electoral rolls would remain central to preparations for the 2027 Panchayat and Urban elections in Odisha.

CAG Flags Land Management Gaps In Odisha, 12,393 Acres Of Industrial Land Remain Unused

Bhubaneswar, Sept. 30 (UDN): The Comptroller and Auditor General of India (CAG) has flagged significant shortcomings in Odisha’s land management, including the non-utilisation of thousands of acres allotted for industrial and allied activities.

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A performance audit covering eight districts found that 12,393.651 acres of land allotted between 1981 and 2021 had remained unused for the purposes for which they were sanctioned. Another 252.692 acres were found to have been used for activities other than those approved.

According to the audit, the Odisha Industrial Infrastructure Development Corporation (IDCO) had allotted 50,231.849 acres for industrial purposes as of March 2024. However, inadequate monitoring and weak lease provisions affected the authorities’ ability to enforce land-use conditions and recover plots that remained unutilised.

The CAG also pointed to gaps in the land-record monitoring system. The Revenue and Disaster Management Department did not maintain a comprehensive database to track acquired and allotted land, while regular surveys to assess actual land use were not being conducted by IDCO or district administrations.

Government Land Worth Nearly ₹598 Crore Under Encroachment

The audit further revealed that 668.893 acres of government land, estimated to be worth ₹597.87 crore, were under unauthorised occupation in the areas covered by the audit.

The report also identified instances of land-use violations involving agricultural and forest land.

As many as 504.768 acres of agricultural land were found to have been used for non-agricultural purposes without proper authorisation. In addition, 568.876 acres of forest land had reportedly been used for non-forest activities without the required approvals.

The CAG has recommended stronger mechanisms to monitor allotted land and ensure compliance with prescribed conditions.

Among the measures suggested are the creation of village-wise land banks, regular surveys to establish the status of land, recovery of unused industrial plots and stringent action against unauthorised occupation and land-use changes.

The audit findings highlight the need for closer coordination between IDCO, district administrations and the Revenue Department to improve oversight of industrial and government land across the state.