Category Archives: Business

LITILIT opens femtosecond laser factory in Vilnius with the world’s highest potential production capacity

 Nikolajus Gavrilinas, CEO and co-founder of LITILIT at the factory opening event in Vilnius. (Source: LITILIT)

LITILIT’s new factory covers 4,000 sq m and will produce around 3000 lasers a year at full capacity. The €6 million project includes a modern CNC metal machining shop, robotized femtosecond laser assembly and testing shops, and an ISO 5 cleanroom of about 2,500 sq m, one of the largest in the Baltics.

Vilnius, October 20. On Friday, October 16, femtosecond laser manufacturer LITILIT opened a new laser factory in Vilnius that, according to the company, has the world’s highest potential femtosecond laser capacity. LITILIT plans to scale capacity gradually, targeting 1 000 femtosecond lasers a year in the first year after launch and reaching 3 000 at full capacity. The majority of the factory’s lasers will be exported to Europe, North America and Asia.

Nikolajus Gavrilinas, co-founder and CEO of LITILIT, says that the new factory marks an important milestone both for the company, which has been developing its laser technology since 2014, and for the whole laser industry.

“The growing use of femtosecond lasers in semiconductor manufacturing, data center equipment, electronics, medicine and other fields is driving demand across Europe, North America and Asia. Our factory comes at exactly the right time and will serve businesses on all three continents. The Vilnius plant is only the first stop; later, we plan to replicate this model in other countries together with our international partners,” says Gavrilinas.

Construction of the factory began this June. Located in Sirin Park Gariūnai, a modern logistics park developed by SIRIN Development on Plungės Street in Vilnius, the factory covers over 4,000 sq m and houses a CNC metal machining shop, robotized assembly and testing shops, and an ISO 5 cleanroom of about 2,500 sq m, one of the largest in the Baltics. The total value of the project is €6 million.

Gavrilinas notes that femtosecond laser production remains limited worldwide because the technology evolved from scientific systems and is notoriously difficult to produce at scale. Last year, global femtosecond laser production capacity was an estimated 9,600 units, according to Reports and Markets.

LITILIT can scale laser production quickly because of its patented architecture based on modular design, reduced component complexity, and a high level of automation. At full capacity, the factory will employ about 150 people, several times fewer than conventional production would require. Besides scalability, the architecture also gives LITILIT’s lasers a performance edge. According to Gavrilinas, they reach around 20% electrical-to-optical efficiency and are up to half the size of the industry average, which makes them easier to integrate into production lines.

The company developed its technology based on two international patents, one of which was made in collaboration with the Center for Physical Sciences and Technology (FTMC) in Lithuania.

Ramūnas Skaudžius, director at FTMC, says the factory is a reminder that the value of scientific research is measured not only by publications or patents. It also confirms that in Lithuania it is possible to complete the entire journey from a scientific idea to a product serving global markets.

“The laser technology developed and patented at FTMC has now become the foundation of advanced industrial manufacturing. Yet the technology itself is not the most important part of the story. What matters most is that knowledge created in Lithuania has been transformed into a business capable of competing on the international stage. This is a long and demanding journey that requires not only scientific excellence, but also entrepreneurial courage, investors’ confidence, and perseverance,” Skaudžius says.

Femtosecond lasers use extremely short pulses that process materials with only minimal heat damage to surrounding structures. This quality, known as cold ablation, makes them indispensable in applications ranging from eye surgery and vascular stents to manufacturing computer chips and display screens.

AD Ports Group Reports Progress in Reducing the Emissions Intensity of Operations in 2025

Abu Dhabi, UAE – 19 October 2026: AD Ports Group, a leading global enabler of integrated trade, industry and logistics solutions, (ADX: ADPORTS), announced the release of its 2025 Sustainability Report, in which it highlights significant progress in its decarbonisation plans, including a 6% reduction in emissions intensity per unit of revenue.

The report reflects AD Ports Group’s gains in mitigating the environmental impact of its integrated global trade, transport, logistics, and economic development activities, through measures such as increased operating efficiencies and the use of solar electricity, lower-impact maritime fuels, and electric-powered vessels.

The Group’s total emissions intensity, which calculates tonnes of carbon dioxide equivalent (tCO₂e) per AED 1 million in revenue across emissions Scopes 1, 2 and 3, fell by 6% to 190.68 tCO₂e in 2025 from 203.06 tCO₂e in 2024. The reduction demonstrates the Group’s progress in decoupling emissions from its business operations, strengthening energy productivity whilst advancing its decarbonisation objectives.

The Group achieved this reduction in emissions intensity during a year in which revenue rose 20%, to AED 20.77 billion, amidst its ongoing global expansion. It also purchased 47,960 megawatt-hours (MWh) of renewable energy certificates (RECs), which lowered the emissions intensity of energy the company used for electricity, heating, and cooling.

In 2025, the Group adopted a decarbonisation pathway covering its operations and value chain, with 139 initiatives planned between 2025 and 2050. The pathway is aligned with the Paris Agreement goal of limiting global warming to 2°C and supports the UAE Net Zero 2050 strategic initiative. The initiatives are backed by a projected investment of USD 636 million over 25 years and target a cumulative reduction of 2.9 million tCO₂e. 

Captain Saif Al Mheiri, Abu Dhabi Maritime CEO and Group Chief Sustainability & Risk Officer of AD Ports Group, said: ” Defining a pathway to net zero across a global business of AD Ports Group’s scale is a significant achievement and reflects our commitment to sustainable growth and value creation. The Group continued to advance its decarbonisation journey as the business grew robustly in 2025, reducing the total emissions intensity of our business per AED 1 million of revenue by 6% from 2024 levels through greater efficiencies and the use of solar and alternative energy. This shows the substantial progress we are making in decoupling emissions from business expansion. By embedding decarbonisation into our business strategy, we are positioning the Group for lasting emissions reductions while strengthening operational resilience and competitiveness, and the progress achieved to date reinforces our conviction that sustainable growth is achievable at scale.” 

The Group is committed to successively leveraging solar energy, low-emissions fuels, CO₂ credits, and the large-scale electrification of its ports, logistics, and maritime and shipping businesses through 2050 to grow sustainably.

The Group’s decarbonisation strategy is integrated into its corporate decision-making matrix to drive emissions reduction. Decarbonisation targets focus on accelerating adoption of renewable energy, advancing fleet decarbonisation and fuel transition, and investing in low-carbon infrastructure to support a multi-fuel future. Executive compensation of the Group’s senior management is linked in part to achievement of sustainability targets.

In 2025, the Group introduced several initiatives that supported the reduction of emissions intensity, including the use of Liquefied Natural Gas (LNG)-powered Pure Car and Truck Carrier (PCTC) vessels in its United Global Ro-Ro venture, ship-to-ship LNG bunkering (fuelling), and the launch of plans with Nimex Terminals to develop LNG and liquefied petroleum gas (LPG) terminal hubs at Khalifa Port.

The Group’s Maritime & Shipping Cluster, which generated 51% of Group revenue during the year, generated 50% of the Group’s emissions in 2025, followed by Ports, 24%, Logistics, 21%, and Economic Cities & Free Zones, 5%.

The Group also diverted 10,303 tonnes of waste in 2025, up 24% from 8,341 tonnes in 2024, including 10,127 tonnes of non-hazardous waste, a 23% increase compared with 8,247 tonnes recycled in the previous year.

Amidst strong growth in Group revenue, total emissions, which includes Scope 1-3 emissions from the Group’s own activities and those of its entire value chain including suppliers and customers, rose 13% to 3,957,755 tCO₂e in 2025 from 3,510,131 tCO₂e in 2024, which was less than the 20% growth in Group revenue.

Boutique Hospitality Services Appoints Apat Salamone as Hospitality Partnership Manager

BANGKOK, THAILAND | Oct 19– Boutique Hospitality Services Limited, a wholly owned subsidiary of Boutique Corporation Public Company Limited (BC), has appointed Apat Salamone as Hospitality Partnership Manager as BC accelerates growth across its hotel management, third-party operating and hospitality technology businesses. Apat brings 12 years of hospitality experience spanning hotel operations, B2B business development and sales.

In his new role, Apat will lead business development for BC’s Hotel Management Services (HMS), Third-Party Operator (TPO) and upcoming hospitality technology (SaaS) offering. He will build the commercial pipeline, oversee owner and client relationships for properties under BC’s hotel management agreements, including JonoX Karon Phuket, and steer key milestones towards the planned launch of BC’s SaaS product by the end of 2026.

The appointment comes as BC sharpens its focus on operations and technology. A certified Third-Party Operator for Accor and Marriott, BC manages internationally branded and independent hotels on behalf of owners, and is developing technology solutions to help them run more efficient, better-performing hotels.

BC’s growing portfolio combines its own brands, Journeyhub Hotels and Jono Hotels, with internationally branded hotels including Novotel and ibis Chiang Mai Nimman Journeyhub, Mercure Phuket Patong Journeyhub and greet Bangkok Sukhumvit 16 Jono. Mövenpick Resort Phuket Kamala Beach and JonoX Sukhumvit 5 – Handwritten Collection are set to join.

Hotel owners and investors exploring TPO, Hotel Management Agreement (HMA) or Asset Management (AM) opportunities are invited to contact Apat at Apat.S@boutiquecorporation.com.

RAKEZ becomes first government authority in Ras Al Khaimah to achieve CIPS ethical procurement certification

FPSB Honors Steve Helmich, CFP and Cary List with 2026 Noel Maye Award for Outstanding Contribution to the Profession

Leaders from Australia and Canada recognized for their impact on the global financial planning profession

DENVER, COLO (U.S.) – 19 October 2026 – Financial Planning Standards Board Ltd. (FPSB), the standards-setting body for the global financial planning profession, is pleased to announce Steve Helmich, CFP and Cary List as recipients of the FPSB 2026 Noel Maye Award for Outstanding Contribution to the Profession. The award recognizes individuals whose leadership, advocacy and volunteer service have made a lasting impact on the advancement of financial planning and CFP certification worldwide.

Helmich was recognized for guiding FPSB through a transformative period and strengthening its strategic and governance foundations, while List was honored for advancing professional standards and collaboration across FPSB’s global network.

“Steve and Cary have each left a lasting mark on our profession,” said FPSB CEO Dante De Gori, CFP. “Steve’s leadership helped shape the direction and foundations we still build on today, while Cary set a high bar for the profession and enriched our global network. This award is a fitting tribute to the legacies they have both built.”

FPSB 2026 Noel Maye Award Recipients

• Steve Helmich, CFP (Australia): Helmich receives the FPSB 2026 Noel Maye Award for his principled leadership and long-standing commitment to the global financial planning profession. As FPSB Board Chairperson from 2013 to 2016, he guided the organization through a pivotal period. His leadership helped strengthen financial planning as a distinct global profession and supported governance reforms that continue to shape FPSB’s global network today. A tireless ambassador for CFP certification, Steve helped build a stronger, more connected financial planning profession around the world.
• Cary List (Canada): List receives the FPSB 2026 Noel Maye Award for his enduring contribution to FPSB and the global financial planning profession, spanning more than a decade from 2007. Through leadership roles including Chairperson of the FPSB Council and involvement in several committees, he helped strengthen governance, align professional standards and advance the consistency and recognition of CFP certification worldwide. His leadership of FP Canada (formerly the Financial Planning Standards Council) as President and CEO also brought valuable Canadian expertise to FPSB’s international work and helped elevate financial planning globally.

ASME Names Leah Putman as President, Engineering for Change

 NEW YORK | Oct 17–The American Society of Mechanical Engineers (ASME) has announced the appointment of Leah Putman as president of its Engineering for Change (E4C) LLC. She continues in her role as director of engineering for sustainable development at ASME, reporting to Iana Aranda, managing director of sustainability at ASME, and outgoing E4C president.

Across these roles, Putman leads strategy and growth for programs connecting engineering, innovation, and societal impact. Putman brings more than 15 years of experience spanning engineering, manufacturing, product development, sustainability, and social impact. She has spent her career helping organizations navigate uncertainty, make evidence-based decisions, and move promising ideas toward implementation.

“I’ve had the privilege of working closely with Leah and witnessing firsthand her ability to bring people, ideas, and expertise together in service of meaningful change. She approaches engineering not only as a technical discipline, but as a powerful tool for improving lives and strengthening communities,” says Aranda. “Leah is an innovative and thoughtful leader who recognizes the importance of ensuring that solutions are informed by a diversity of experiences and perspectives. As E4C president, she will help build a more connected, inclusive, and impact-oriented engineering community, while advancing ASME’s commitment to engineering for sustainable development.”

Since joining ASME in 2022, Putman has held leadership roles with both ASME and E4C. Previously, she worked as an independent strategy, engineering, and project management consultant and held technical and leadership positions with Sustainable Health Enterprises (SHE) in Rwanda and W. L. Gore & Associates in the United States. Putman holds a master’s degree in science from Technische Universiteit Delft in the Netherlands and a bachelor’s degree from the University of Delaware.

Tesla Unveils Flying Roadster That Performs Mid-Air Flip in Stunning Demonstration

Austin, Texas Oct 16: Electric vehicle giant Tesla has stunned audiences with a dramatic demonstration of its long-awaited next-generation Roadster, showcasing a vehicle that briefly takes flight, performs a mid-air flip and lands safely.

 Representational Image 

The demonstration took place on October 15 at a SpaceX test facility in McGregor, Texas, where Tesla CEO Elon Musk presented a glimpse of what could be a radical new direction for high-performance electric cars.

“Turns out the future does have flying cars,” Musk said, highlighting the vehicle’s extraordinary capabilities.

How does the flying Roadster work?

According to Tesla, the Roadster combines an advanced fan-based suction system with compressed-gas thrusters developed using technology associated with SpaceX. The suction system generates powerful downforce, allowing the vehicle to remain attached to a specially designed ramp—even when upside down.

The thrusters help the vehicle lift off briefly, adjust its position in the air and perform aerial manoeuvres. During the demonstration, the Roadster was also shown completing a mid-air flip before returning to the ground.

Tesla claims the vehicle can accelerate from zero to 60 miles per hour in less than a second in its most powerful configuration. However, this performance figure has not been independently verified.

Three versions, different capabilities

Tesla has outlined different configurations of the Roadster, including a performance-focused model and more advanced versions equipped with thruster technology. The most ambitious variant is designed to demonstrate short airborne movements, although it is not approved for ordinary public-road use.

Despite the spectacular showcase, the demonstration does not mean flying cars are ready for everyday travel. The technology remains experimental, and questions surrounding safety, certification and practical use still need to be addressed.

When will it reach the market?

The Roadster has been anticipated for years, with production plans repeatedly delayed since its original unveiling in 2017. Musk has indicated that production is expected to begin in 2028, although the timeline could change.

Tesla has yet to establish that all the capabilities demonstrated in the prototype will be available in a production vehicle.

The latest demonstration nevertheless puts the spotlight back on Tesla’s ambition to push the boundaries of electric vehicle engineering—and raises a fascinating question: could cars one day do more than simply drive on roads?

Reliance Responds to Elon Musk Over Starlink’s India Launch, Says Rules Apply to All

New Delhi, Oct 16: Reliance Industries has responded to the debate surrounding Starlink’s entry into India, stating that all satellite communication providers must comply with the country’s regulatory requirements before launching commercial services.

 Representational Image 

The response comes amid a public exchange involving SpaceX CEO Elon Musk and concerns over the approval process for foreign satellite internet operators. Musk had questioned whether powerful Indian business interests were creating obstacles to Starlink’s entry into the country.

Reliance maintained that it welcomes investment and technological innovation from global companies but stressed that the same rules must apply to every telecom operator, including its own subsidiary, Jio.

Jio’s satellite ambitions

Satellite broadband is emerging as a potential solution for extending internet connectivity to remote and underserved areas where conventional mobile networks and fibre infrastructure are difficult to deploy.

Jio is pursuing its own satellite connectivity plans, with the supplied report citing a proposed network of around 1,600 satellites and 23 ground stations. The company maintains that its project must undergo the same government approval procedures as competing services.

According to the report, Jio, Eutelsat OneWeb and Starlink are at comparable stages of security clearance and spectrum-related approvals. These regulatory steps are essential before satellite broadband services can be offered commercially.

Airtel also weighs in

The debate has also drawn attention to Bharti Airtel Chairman Sunil Bharti Mittal, who has challenged suggestions that Starlink is facing uniquely difficult treatment in India.

Mittal has pointed to the time his organisation has spent pursuing the necessary licences for its satellite venture with Eutelsat OneWeb, arguing that the regulatory process began years ago.

Starlink, meanwhile, has maintained that it has been engaging with Indian authorities for several years to prepare for its entry into the market.

Regulatory clearance remains key

India’s satellite internet market is attracting growing interest as companies compete to connect consumers, businesses and communities beyond the reach of traditional broadband infrastructure.

However, commercial launches depend on regulatory approvals, including security clearances and access to spectrum.

Reliance’s position is that all applicants should be assessed under a consistent framework, regardless of whether they are domestic companies or international technology providers.

As competition intensifies, the pace of regulatory approvals could play a significant role in determining when Starlink and rival satellite broadband services become available to Indian customers.

Pune’s Growth Story Needs a Planning Story to Match It

By Anil Pharande, Chairman, Pharande Spaces

A few weeks ago, I wrote about what Hinjewadi and Chakan are going through, and about Talegaon’s promise as a fresh canvas. Since then, I have watched the state machinery respond with a seriousness I genuinely want to acknowledge.
 
1. The Pune district collector has formed a dedicated high-level committee with PMRDA, MIDC, MSRDC, NHAI, PWD and traffic police to fix Chakan’s roads, and has ordered time-bound action plans this very month.
 
2. In Hinjewadi, Rs 426 crore has been sanctioned for road and last-mile connectivity improvements, and
 
3. PMRDA has drawn up a fresh plan for footpaths, cycle tracks, speed tables and safer pedestrian crossings near Metro stations.

These are not small gestures. They show real intent from the government to fix two of Maharashtra’s most important economic engines, and that intent deserves to be welcomed rather than taken for granted.

But as a developer who has watched this region grow for decades, I also know that fixing Hinjewadi and Chakan after the fact, even though it is obviously well-intentioned, is the harder and more expensive path. The real opportunity now is to use this momentum to ask a bigger question: why do our fastest-growing belts keep reaching crisis point before the system responds?

The answer, I believe, lies less in any one authority’s failure and more in the scale and structure of the planning challenge itself.

A Region the Size of a Small State

PMRDA was set up in 2015 to plan and coordinate growth across Pune and Pimpri-Chinchwad and the villages around them. Its jurisdiction spans somewhere between 6,000 and 7,250 square kilometres, covering over 800 villages across nine talukas.

To put that in perspective – most municipal corporations in India manage areas that are a fraction of this size, with far simpler administrative boundaries, and fewer competing land uses to reconcile. We are basically asking one authority to plan land use, roads, water, power and public transport – across an area this vast, with villages, farmland, industrial belts and urban clusters all mixed together.

This is an entirely different order of administrative challenge. It demands a scale of agility and long-range vision that conventional planning tools were never built for.

That mismatch has shown up clearly in PMRDA’s own planning history. Its draft Development Plan, published in August 2021, drew more than 67,000 objections and suggestions from citizens. The Bombay High Court stayed its implementation in October 2022 citing procedural concerns, and after years of legal back-and-forth, the state government formally cancelled the entire draft DP in September 2025, effectively resetting the process.

PMRDA has since been directed to prepare a Structure Plan instead, starting with the road network, before attempting a fresh Development Plan. This is not a story of neglect. It reflects, more than anything, the inherent limits of conventional master-planning processes, which routinely take 10-15 years to move from draft to ground reality.

By the time such plans are finalised, the real estate and population growth they were meant to guide has often already moved past them.

Learning From How Mumbai Is Tackling the Same Problem

Interestingly, Maharashtra is already testing a different approach elsewhere in the state. For its upcoming ‘Third Mumbai’ project, spanning over 320 square kilometres across 124 villages, the MMRDA has engaged Surbana Jurong, a leading Singapore-based planning agency, to prepare a complete vision document and master plan within a compressed 30-week timeline.

Whatever one’s view of importing outside expertise, the underlying idea is sound – when a region needs to plan decades ahead within months rather than years, it makes sense to bring in planners who have done this at scale before, rather than relying solely on conventional in-house processes which are already stretched thin by other responsibilities.

Pune and Pimpri-Chinchwad are rapidly becoming one continuous mega-region, pulled together by automotive, electronics and technology industries expanding in every direction, from Chakan in the north to Hinjewadi in the west – and now Talegaon further along the expressway. A region of this ambition deserves a structural plan built with the same urgency and global expertise, so that the next growth belt is planned with foresight rather than retrofitted under pressure.

Four Practical Shifts Worth Considering

1. PMRDA’s current move towards a Structure Plan is the right moment to bring in top-tier international planning expertise, on the Third Mumbai model, to help deliver a practical, implementable framework within a defined timeline rather than over another decade.

2. The fragmentation between MIDC, PMRDA, municipal corporations, PWD and gram panchayats, each controlling a different stretch of road or utility, needs to give way to a single coordinating platform. Chakan’s internal roads being 70 metres wide under MIDC while connecting roads remain 8 to 12 metres wide under other agencies shows exactly what this fragmentation produces .

3. Planning and execution should run in parallel rather than one after the other. Arterial roads, transit corridors and growth-centre reservations can be identified and built even as the larger structure plan is finalised, much as PMRDA’s phase-one focus on roads already suggests.

4. A dedicated task force modelled on how MMRDA drives execution for regional projects, with the authority to take fast decisions on land acquisition and inter-agency approvals, would help translate plans into built infrastructure far more quickly than routine bureaucratic channels allow.

Closing Thoughts

Unplanned and unregulated development does not wait for paperwork. When formal planning lags behind real-world growth, that vacuum tends to fill itself, often messily, which is exactly what unfolded in Hinjewadi and Chakan.

The good news is that the government’s recent actions show this gap is being recognised and addressed head-on. If that same urgency is now channelled into structural reform, through global planning expertise, unified coordination and parallel execution, Pune’s next decade of growth, in places like Talegaon and beyond, can finally match the ambition of the city it is meant to serve.
 

Anil Pharande is Chairman of Pharande Spaces, a leading real estate construction and development firm famous for its township projects in Greater Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces  and an ISO 9001-2000 certified company. Established in 1994, the company has built a substantial footprint of premium gated communities, massive integrated townships and high-grade commercial office and retail projects. Thjey are widely recognized for theirs focus on modern, green township living concepts and high-quality construction .

Jindal Steel Wins Global Steelie Award for Excellence in Workplace Safety

New Delhi, Oct 16: Jindal Steel has earned international recognition for its innovative workplace safety initiative, Dakshata Engineering Safety, winning the 2026 Steelie Award for Excellence in People presented by the World Steel Association.

 Representational Image 

The award recognises the company’s efforts to strengthen workforce capabilities by connecting safety knowledge with practical skills required on the factory floor. Jindal Steel was selected ahead of other finalists, including Tata Steel, InfraBuild, China Baowu and USIMINAS.

The Dakshata initiative moves beyond conventional safety training by assessing employees on the specific knowledge, emergency response capabilities and practical skills needed for their respective roles. Based on individual assessment results, the programme identifies gaps and provides targeted training before reassessing workers’ proficiency. These assessments also help management improve workforce deployment and supervision.

The initiative has assessed more than 27,100 executive and non-executive employees across six facilities. During the initial assessment of 11,639 non-executive employees, the average knowledge score stood at 0.81, compared with 0.71 for practical application.

To address the gap, 69 certified trainers delivered 372 health and safety training modules, achieving a 96 per cent completion rate. The company also recorded 16,539 formal assessments for incoming personnel.

Jindal Steel has further strengthened workplace protection through digital risk analytics, engineered hazard reduction, access controls and artificial intelligence-based monitoring at its Raipur Machinery Division.

During the 2025–26 financial year, the facility recorded 17,752 safety observations and mechanised or eliminated 379 high-risk tasks. These measures helped reduce emergency response time by 15 per cent to 5.25 minutes, while the facility reported a lost-time injury frequency rate of zero.

The global recognition highlights the growing importance of data-driven safety management, role-specific training and practical risk prevention in the steel industry, where protecting frontline workers remains a critical operational priority.