Merger with and into Iveco Group N.V. of New Business Netherlands Holding B.V.

Turin, 4th July 2022. Iveco Group N.V. (IVG) announces the beginning of the merger procedure (pursuant to Sections 2:309 of the Dutch Civil Code) with and into IVG of its fully owned subsidiary New Business Netherlands Holding B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid), having its official seat in Andelst, the Netherlands, and its office address at Wanraaij 9, 6673DM Andelst, the Netherlands, and registered with the trade register of the Netherlands Chamber of Commerce under number 76507203.

According to applicable law, the merger documentation has been filed with and is available for inspection at the Netherlands Chamber of Commerce, as well as posted at the corporate website Subject to its creditors’ and shareholders’ rights, IVG – as absorbing company – intends to resolve upon the statutory merger by way of decision of the board of directors, instead of resolution by the general meeting. The completion of the merger is foreseen by the end of the year.

Iveco Group N.V. (MI: IVG) is a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain, and related Financial Services arenas. Each of its eight brands is a major force in its specific business: IVECO, a pioneering commercial vehicles brand that designs, manufactures, and markets heavy, medium, and light-duty trucks; FPT Industrial, a global leader in a vast array of advanced powertrain technologies in the agriculture, construction, marine, power generation, and commercial vehicles sectors; IVECO BUS and HEULIEZ, mass-transit and premium bus and coach brands; IDV, for highly-specialised defence and civil protection equipment; ASTRA, a leader in large-scale heavy-duty quarry and construction vehicles; MAGIRUS, the industry-reputed firefighting vehicle and equipment manufacturer; and IVECO CAPITAL, the financing arm which supports them all. Iveco Group employs approximately 34,000 people around the world and has 28 manufacturing plants and 29 R&D centres. Further information is available on the Company’s website

Media Contacts:
Francesco Polsinelli, Tel: +39 335 1776091
Fabio Lepore, Tel: +39 335 7469007

Investor Relations:
Federico Donati, Tel: +39 011 0073539


Prince Albert of Monaco: Boating Evolves and Is an Engine of Change

The Monaco Smart & Sustainable Marina Rendezvous Will Help Support Solutions to Climate Change in the World of Boating

Yacht Club of Monaco

A party held for the Yacht Club of Monaco. Around 40 new members have joined the club, including British sailor Saskia Clark and former NBA basketball player Tony Parker. About a thousand people attended the party.

MONACO, July 04, 2022 (GLOBE NEWSWIRE) — “The world of yachting must change to meet the challenges of a warming planet,” said Prince Albert II of Monaco, who is also president of the Yacht Club of Monaco.

“Faced with the climatic emergency that we are witnessing more and more every day, it is the entire yachting ecosystem that is concerned and must evolve: both the yachts and the port infrastructures. We must be agents of change and contribute to this transformation. It is for these reasons that I wanted our Yacht Club and My Foundation to support the Monaco Smart & Sustainable Marina Rendezvous. The aim is to present innovative solutions and encourage their implementation for the development of virtuous tourist ports,” said Prince Albert, speaking at the annual cocktail of the members of the Yacht Club of Monaco.

Some 40 new members have joined the club, including British sailor Saskia Clark and former NBA basketball player Tony Parker. About a thousand people attended the party. Prince Albert II also recalled that the club is organizing the Monaco Energy Boat Challenge from 4 to 9 July. All these initiatives are part of the Monaco Capital of Advanced Yachting, a project born in 2012 with the name of “Monaco Capital of Yachting,” a network brand whose aim is to consolidate the position of the Principality as a center of excellence in the yachting sector.

For more information:
LaPresse SpA Communication and Press Office Director
Barbara Sanicola

A photo accompanying this announcement is available at

The photo is also available at Newscom,, and via AP PhotoExpress.

Philips completes cancellation of 8.8 million shares

July 4, 2022

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that it has completed the cancellation of 8,758,455 of its shares. The cancelled shares were acquired as part of the EUR 1.5 billion share repurchase program for capital reduction purposes that was announced on July 26, 2021.

Philips’ current issued share capital amounts to EUR 177,863,016.40 representing 889,315,082 common shares. As communicated earlier, Philips intends to have 19,571,218 shares delivered through the early settlement of forward contracts (entered into as part of the same share repurchase program) and to cancel those as well, which would result in 869,743,864 issued common shares at year-end 2022 (2021: 883,898,969).

More information is available here.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15213446

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

1.7 Million Locked Down in China’s Anhui Province

China placed 1.7 million people under lockdown in central Anhui province, where authorities reported nearly 300 new cases Monday in the latest of a string of outbreaks testing Beijing’s no-tolerance approach to COVID-19.

The country is the last major economy wedded to a zero-COVID strategy, responding to all cases with strict isolation orders and tough testing campaigns.

The outbreak in Anhui — where officials first found hundreds of cases last week — comes as the Chinese economy begins to rebound from a months-long lockdown in Shanghai and disruptive COVID restrictions in the capital Beijing.

Two counties in the province — Sixian and Lingbi — announced lockdowns last week, with more than 1.7 million residents only permitted to leave their homes if they are getting tested.

Footage from state broadcaster CCTV showed empty streets in Sixian over the weekend and people lining up for their sixth round of mass testing in recent days.

The province reported 287 new infections on Monday, including 258 people who had no symptoms, according to China’s National Health Commission, bringing the total cases found to just over 1,000.

Provincial governor Wang Qingxian urged local authorities to “seize every minute and earnestly implement quick screening” as well as rapid quarantine and reporting of cases, in a statement published by the Anhui government on Monday.

Neighboring Jiangsu province also reported 56 new local infections across four cities on Monday.

Photos shared widely online, verified by AFP Fact Check, showed hundreds of people in hazmat suits lining up in the city of Wuxi in Jiangsu, appearing to be waiting for buses to quarantine facilities.

Some of the shots showed babies in blue protective clothing carried by people with suitcases waiting outside a hospital in sweltering heat.

Temperatures in Wuxi have recently reached up to 36° C (97° F).

While cases remain low relative to China’s vast population, officials insist the zero-COVID policy is necessary to prevent a healthcare calamity, pointing to unevenly distributed medical resources and low vaccination rates among the elderly.

But the strategy has hammered the world’s second-largest economy and heavy-handed enforcement has triggered rare protests in the tightly controlled country.

China’s international isolation has also prompted some foreign businesses and families with the financial means to make exit plans.

National authorities announced a reduced quarantine requirement for international arrivals last month, rallying most Asian markets as investors hoped the move could provide a boost for Beijing’s COVID-slumped economy.

But health official Lei Zhenglong has insisted the new quarantine policy was “absolutely not a loosening of (COVID) prevention and control.”

Source: Voice of America

Saudi Arabia Welcomes Largest Hajj Pilgrimage Since Pandemic

White-robed worshippers from around the world have packed the streets of Islam’s holiest city ahead of the biggest hajj pilgrimage since the coronavirus pandemic began.

Banners welcoming the faithful, including the first international visitors since 2019, adorned squares and alleys, while armed security forces patrolled the ancient city, birthplace of the Prophet Mohammed.

“This is pure joy,” Sudanese pilgrim Abdel Qader Kheder told AFP in Mecca, before the event that officially starts Wednesday. “I almost can’t believe I am here. I am enjoying every moment.”

One million people, including 850,000 from abroad, are allowed at this year’s hajj after two years of drastically curtailed numbers due to the pandemic. The pilgrimage is one of five pillars of Islam, which all able-bodied Muslims with the means are required to perform at least once.

On Monday afternoon, pilgrims carrying umbrellas to shield themselves from the scorching sun flocked to souvenir and barber shops in Mecca, while others shared meals under palm trees on streets close to the Grand Mosque.

Many new arrivals had already begun performing the first ritual, which requires walking seven times around the Kaaba, the large black cubic structure at the center of the Grand Mosque.

A picture taken on July 4, 2022 shows a general view of the Kaaba (C) at the Grand Mosque, in the holy city of Mecca.

A picture taken on July 4, 2022 shows a general view of the Kaaba (C) at the Grand Mosque, in the holy city of Mecca.

Made from granite and draped in a cloth featuring verses from the Koran, the Kaaba stands nearly 15 meters (50 feet) tall. It is the structure all Muslims turn toward to pray, no matter where they are in the world.

“When I first saw the Kaaba I felt something weird and started crying,” Egyptian pilgrim Mohammed Lotfi told AFP.

At least 650,000 overseas pilgrims have arrived so far in Saudi Arabia, authorities said on Sunday.

In 2019, about 2.5 million people took part in the rituals, which also include gathering at Mount Arafat and “stoning the devil” in Mina.

The following year, when the pandemic took hold, foreigners were barred and worshippers were restricted to just 10,000 to stop the hajj from turning into a global super-spreader.

That figure rose to 60,000 fully vaccinated Saudi citizens and residents in 2021.

FILE – Muslim pilgrims circumambulate the Kaaba, the cubic building at the Grand Mosque, as they wear masks and keep social distancing, a day before the annual hajj pilgrimage in Mecca, Saudi Arabia, July 17, 2021.

FILE – Muslim pilgrims circumambulate the Kaaba, the cubic building at the Grand Mosque, as they wear masks and keep social distancing, a day before the annual hajj pilgrimage in Mecca, Saudi Arabia, July 17, 2021.

Pilgrims this year — only those younger than 65 are allowed — will participate in the hajj under strict sanitary conditions.

The hajj has seen numerous disasters over the years, including a 2015 stampede that killed up to 2,300 people and a 1979 attack by hundreds of gunmen that, according to the official toll, left 153 dead.

Unaccompanied women

The pilgrimage is a powerful source of prestige for the conservative desert kingdom and its de facto ruler, Crown Prince Mohammed bin Salman, who is returning from the diplomatic wilderness.

Days after the hajj, Prince Mohammed will welcome U.S. President Joe Biden who, with oil prices soaring following Russia’s invasion of Ukraine, has reneged on a vow to turn Saudi Arabia into a “pariah” over the 2018 murder of journalist Jamal Khashoggi by Saudi agents.

The hajj, which costs at least $5,000 per person, is a money-spinner for the world’s biggest oil exporter trying to diversify its economy. In normal years the pilgrimage brings in billions of dollars.

It is also a chance to showcase the kingdom’s rapid social transformation, despite persistent complaints about human rights abuses and limits on personal freedoms.

Saudi Arabia — which has under recent reforms permitted raves in Riyadh and mixed-gender beaches in Jeddah — now allows women to attend the hajj unaccompanied by male relatives, a requirement that was dropped last year.


Masks are no longer compulsory in most enclosed spaces in Saudi Arabia but they will be mandatory at the Grand Mosque, the holiest site in Islam. Pilgrims from abroad will have to submit a negative PCR test result.

Muslim pilgrims visit Mount Al-Noor, where Muslims believe Prophet Mohammad received the first words of the Koran through Gabriel in the Hira cave, in the holy city of Mecca, Saudi Arabia, July 4, 2022.

Muslim pilgrims visit Mount Al-Noor, where Muslims believe Prophet Mohammad received the first words of the Koran through Gabriel in the Hira cave, in the holy city of Mecca, Saudi Arabia, July 4, 2022.

The Grand Mosque will be “washed 10 times a day … by more than 4,000 male and female workers,” with more than 130,000 liters (34,000 gallons) of disinfectant used each time, authorities said.

Since the start of the pandemic, Saudi Arabia has registered more than 795,000 coronavirus cases, 9,000 of them fatal, in a population of about 34 million.

Aside from COVID, another challenge is the scorching sun in one of the world’s hottest and driest regions, which is becoming even more extreme through the effects of climate change. Although summer has only just begun, temperatures have already topped 50 degrees Celsius (122 Fahrenheit) in parts of Saudi Arabia.

But Iraqi pilgrim Ahmed Abdul-Hassan al-Fatlawi said the heat is the last thing he thinks of when in Mecca.

“I am 60 years old, so it’s normal if I get physically tired because of the hot weather, but I am in a state of serenity, and that’s all that matters to me,” he told AFP.

Source: Voice of America