Day: June 12, 2024

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The Bazaar DC by José Andrés (JF33) Obtains USCIS Project Approval

WASHINGTON, June 12, 2024 (GLOBE NEWSWIRE) — EB5 Capital, a leading EB-5 Regional Center operator, is pleased to report that on May 30, 2024, its restaurant project, The Bazaar DC by José Andrés (JF33), was approved by the United States Citizenship and Immigration Services (USCIS). This Form I-956F approval signifies that USCIS has verified the compliance of JF33, and the individual foreign investors who invested in the project are now closer to obtaining conditional residency in the United States.

The Bazaar DC by José Andrés (JF33) is the development of a 227-seat, approximately 10,000 square-foot, high-end restaurant located in the historic Waldorf Astoria in Washington, DC. EB5 Capital provided a portion of the financing for JF33. The Bazaar DC by José Andrés opened to the public in 2023 and is among 20 EB5 Capital projects in the nation’s capital. In 2019, EB5 Capital also supported the financing of The Ritz-Carlton New York, NoMad, which includes another location of The Bazaar.

EB5 Capital’s JF33 project is owned and managed by José Andrés Group (JAG), a highly reputable and respected restaurant operator based in Washington, DC with nearly 40 restaurant concepts across the United States and internationally, including The Bazaar by José Andrés, barmini, Jaleo, Zaytinya, China Poblano, Oyamel, China Chilcano, in addition to an array of others in its fast-casual division. Sam Bakhshandehpour was recently promoted to Global CEO of the José Andrés Group (JAG), formerly he served as President, and world-famous chef and humanitarian José Andrés, will continue to serve as Founder and Executive Chairman of JAG.

“We would like to congratulate the investors who joined JF33, the first restaurant project in our 40-project portfolio,” said Patrick Rainey, Senior Vice President of Investments at EB5 Capital. “This approval is also a major milestone for our team as it marks our 10ᵗʰ project approved since the EB-5 Reform and Integrity Act of 2022 went into effect.”

EB5 Capital is looking forward to receiving individual I-526E petition approvals from USCIS soon and supporting its investors with the next steps in the immigration process. The firm will continue to identify and execute on EB-5 projects that not only meet the rigorous requirements of USCIS but contribute meaningfully to local communities and economies across the United States.

About EB5 Capital

EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across approximately 40 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.

Contact:
Katherine Willis
Director, Marketing & Communications
media@eb5capital.com

GlobeNewswire Distribution ID 9152932

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XTransfer and Banking Circle Announce Strategic Partnership

Collaboration Set to Boost Payment Capabilities for Importers/Exporters  in Europe and the Middle East

HONG KONG SAR – Media OutReach Newswire – 11 June 2024 – XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, and Banking Circle, the innovative tech-driven Payments Bank, have entered into a strategic partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer’s clients, particularly benefiting Chinese suppliers with significant markets in Europe and the Middle East.

Both XTransfer and Banking Circle are committed to minimising the cost associated with global trade payments. XTransfer focuses on providing SMEs with secure, compliant, fast, and cost-effective cross-border payment and fund collection solutions, thereby enhancing global competitiveness and facilitating international expansion. Banking Circle has established a comprehensive local clearing network for major currencies and an effective FX engine supporting 24 currencies, ensuring quick, low-cost payments without hidden fees.

Through the integration of Banking Circle’s infrastructure, XTransfer can now offer its clients a broader array of local payment and fund collection options. Clients will be able to receive payments not only in major currencies like the US Dollar, Euro, GBP, and Danish Krone, but also in six additional currencies in Europe and the Middle East. This partnership is expected to expand further, with plans to introduce even more currency options in the near future.

This development is particularly advantageous for businesses dealing with Chinese suppliers. Buyers in Europe and the Middle East will have the convenience of paying Chinese suppliers in a wider range of local currencies.

Bill Deng, Founder and CEO of XTransfer, commented on the partnership, “Our alliance with Banking Circle represents a significant step forward in our expansion into the European and Middle Eastern markets. This partnership not only accelerates XTransfer’s global ambitions but also promises to revolutionise the international trade landscape for businesses. We are eager to see the continued success of this collaboration.”

Laust Bertelsen, Co-Founder and CEO of Banking Circle added, “We are thrilled to support XTransfer’s vision for global trade. By leveraging Banking Circle’s accounts and payment rails, XTransfer can streamline the payment process for its clients, reducing both costs and transaction times.”

XTransfer

XTransfer, World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost foreign trade payment & fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, and Singapore. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 450,000 enterprise clients, XTransfer has become the industry No.1 in China.

By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, Internet-based and intelligent anti-money laundering risk control infrastructure centred on small and medium enterprises. XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.

XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.

For more information: https://www.xtransfer.com/

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Adaa Measures Pilgrim Satisfaction During Hajj Journey

Makkah: The National Center for Performance Measurement (Adaa) is gauging pilgrim satisfaction for the 1445 AH Hajj season. This initiative targets 81 services provided by 18 government agencies to understand pilgrim sentiment regarding the services they receive throughout their Hajj journey, including visits to the Prophet’s Mosque.

Adaa Director General Rashid bin Abdullah Al-Qaoud emphasized the Kingdom’s prioritization of serving pilgrims under the leadership of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. He noted that Adaa’s year-round efforts include measuring pilgrim satisfaction to improve the quality of services offered in Makkah.

The measurement process encompasses the entire Hajj experience, from permit application and travel arrangements to the performance of Hajj rituals, movement between holy sites, support services in Makkah, the visit to the Prophet’s Mosque in Ma
dinah, and the pilgrims’ departure journey.

Adaa’s work extends to evaluating services provided by a range of ministries, government agencies, and other entities.

Source: Saudi Press Agency

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General Directorate of Passports: 1,547,295 Pilgrims Have Arrived for Hajj Season 1445 AH

Makkah: The General Directorate of Passports announced yesterday the arrival of 1,547,295 pilgrims for the Hajj season of 1445 AH. This figure encompasses all pilgrims entering the Kingdom through air, land, and sea ports until the end of Monday, 4th of Dhu Al-Hijjah 1445 AH (June 10, 2024).

A breakdown of the arrival data revealed that 1,483,312 pilgrims arrived via air travel, while 59,273 pilgrims entered through land ports. Sea ports received a total of 4,710 pilgrims.

The directorate emphasized its commitment to facilitating the entry process for all pilgrims. This commitment is reflected in the deployment of the latest technological advancements at international ports alongside a team of highly qualified multilingual personnel to ensure a smooth experience for all arriving for Hajj.

Source: Saudi Press Agency

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Interior Ministry Showcases Makkah Route Initiative at Hajj Media Hub

Makkah: The Ministry of Interior, through its pavilion at the Hajj Media Hub, has shined a spotlight on its Makkah Route Initiative.

The initiative which is a part of the Pilgrim Experience Program under Saudi Vision 2030, aims to provide high-quality services to Hajj pilgrims from beneficiary countries in collaboration with various government entities.

The Hajj Media Hub, organized by the Ministry of Media, is taking place at the Makkah Chamber Exhibitions and Events Center from June 10 to 16.

The event seeks to raise awareness about the importance of adhering to Hajj regulations and instructions, ensuring the comfort and safety of the pilgrims.

Visitors to the Ministry of Interior’s pavilion have the opportunity to learn about the significant role played by the Makkah Route Initiative in facilitating the Hajj journey for pilgrims from several countries.

This year, the initiative is being implemented for the sixth time in the initiative’s lounges across 11 airports in seven countries: Pakistan, Malaysia
, Indonesia, Morocco, Bangladesh, Trkiye, and Ivory Coast.

The Ministry of Interior is participating in the Hajj Media Hub to showcase the services provided by the general security sectors, General Administration of Security Patrols, General Directorate of Civil Defense, and the National Center for Security Operations.

Source: Saudi Press Agency

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Israeli Warplanes Carry Out Several Raids on Southern Lebanese Border Villages

Israeli warplanes have carried out intense raids and artillery shelling on dozens of southern Lebanese border villages, causing massive destruction and fires without causing any casualties.

An Israeli drone bombed the towns of Markaba, Blida and Aitaroun, while the warplanes raided the area between Deir Saryan, Taybeh, and Zibqin, the National News Agency reported.

It added that Israeli artillery shelling targeted the towns of Naqoura, Tair Harfa, Al-Jabain, Beit Lev, Zibqin, Al-Adaysah, Yaroun, Maroun Al-Ras, Bint Jbeil, and Al-Tiri, in which incendiary phosphorus shells were used.

The Israeli warplanes also launched a raid on the town of Markaba, and another raid on the town of Yater, targeting a house in the Al-Kasara neighborhood, after which ambulances went to inspect it. The raid destructed the house completely.

Source: Qatar News Agency