Retail News CRM

Author: Mei Ling Tan

  • Indonesian Fashion Brand Buttonscarves Debuts in Singapore with Exclusive Jewel Changi Boutique Launch

    Indonesian Fashion Brand Buttonscarves Debuts in Singapore with Exclusive Jewel Changi Boutique Launch

    Indonesia-based fashion brand, Buttonscarves, has recently established its premiere standalone store in Singapore. The new outlet is conveniently situated in the bustling Jewel Changi Airport.

    Store Overview

    Located on Basement 1 of the complex, this boutique showcases the label’s renowned scarves and brooches. Each item is elegantly displayed in packaging that is perfect for gift-giving. Additionally, the establishment carries exclusive Jacquard Voile scarves, a unique product line that can only be found at this Jewel location.

    Linda Anggrea, CEO of Buttonscarves, commented on the brand’s new venture. She noted that Singapore’s position as a regional hub with significant global reach permits the brand to interact with both local communities and international tourists. This strategic location places Buttonscarves at the center of Southeast Asia’s dynamic fashion scene.

    New Collection Launch

    To coincide with the store’s opening, Buttonscarves has launched the Singapore 2 Series. This novel line is a joint collaboration with the Singapore Tourism Board. The collection, featuring 16 different color variations, is an ode to the city’s cultural diversity and contemporary energy. Two color shades are exclusive to the Jewel Changi Airport store, enhancing the uniqueness of the collection.

    Buttonscarves was established in 2016 and is recognized as a modest fashion and lifestyle brand under the Modinity Group. The brand currently operates over 50 stores spread across Indonesia, Malaysia, and Singapore.

    Questions & Answers

    What products does Buttonscarves sell in its new Singapore store?
    The store showcases the brand’s signature scarves and brooches. It also offers exclusive Jacquard Voile scarves only available at this location.

    What is special about the new Singapore 2 Series collection?
    The Singapore 2 Series, created in collaboration with the Singapore Tourism Board, reflects the city’s cultural diversity and modern energy. It features 16 different color variations, including two shades exclusive to the new store.

    How many stores does Buttonscarves operate?
    Buttonscarves, under the Modinity Group, operates more than 50 stores across Indonesia, Malaysia, and Singapore.

  • Kopi Kenangan Brews Global Expansion Plan After Tasting Success in Malaysia

    Kopi Kenangan Brews Global Expansion Plan After Tasting Success in Malaysia

    Kopi Kenangan, an Indonesian coffee chain, is broadening its presence in Asia, subsequent to achieving profitability in Malaysia, three years after its market launch. Edward Tirtanata, the co-founder and CEO of the company, anticipates closing the current year with 150 branches in Malaysia, before broadening that number to 200 venues next year.

    Tirtanata shared that the company has been persistently opening more than one location per day this year, with approximately 70 new stores expected to launch within the next month.

    Continuing its regional expansion, Kopi Kenangan is planning to penetrate the markets of Taiwan and a Gulf Cooperation Council (GCC) country by mid-next year. Earlier this year, the brand made its first appearance in Australia and anticipates having four stores in operation by the end of the year. Meanwhile, roughly 20 additional outlets are scheduled to open in the Philippines in the latter part of this year and early next year.

    The third quarter of this year saw the company’s revenue increase by 40% year-on-year, a growth attributed to its strategy of adapting flavors, recipes, and prices to accommodate local markets. Tirtanata stated, “If you drink our coffee in Singapore, Jakarta, Malaysia, or New Delhi, it will taste different.” He further emphasized the company’s readiness to innovate and revise their recipes to cater to their diverse customer base.

    Questions & Answers

    What is the planned expansion of Kopi Kenangan within the next year?
    Kopi Kenangan aims to increase its Malaysian outlets to 200 stores. Also planned is the opening of approximately 70 new stores within the next month. Furthermore, the company is set to launch in Taiwan and a Gulf Cooperation Council (GCC) country by mid-next year.

    What contributes to Kopi Kenangan’s revenue growth?
    The company’s strategy of adapting its coffee flavors, recipes, and pricing to fit local markets has played a significant role in its revenue increase of 40% year-on-year in the third quarter.

    What differentiates Kopi Kenangan’s coffee in various locations?
    Kopi Kenangan’s coffee taste differs in various locations such as Singapore, Jakarta, Malaysia, and New Delhi. This is due to the company’s strategy of innovating and revising their recipes to cater to local tastes and preferences.

  • Revolutionizing Tunes: Spotify Unveils Massive Upgrade for Apple TV App Experience

    Revolutionizing Tunes: Spotify Unveils Massive Upgrade for Apple TV App Experience

    Spotify has decided to give some much-needed attention to its Apple TV application by conducting a comprehensive revamp. The upgraded experience boasts improved speed, a significantly better aesthetic, and incorporates vital features that have been absent for a considerable amount of time.

    Revamping Spotify on Apple TV

    Previously, using Spotify on an Apple TV could be described as adequate at best. It functioned, but it seemed more like an afterthought and an awkward adaptation of the original. Spotify is now changing the narrative.

    The company has unveiled a freshly enhanced experience, totally reconstructed from scratch exclusively for tvOS. The reconstruction is not merely a superficial makeover. It’s a fundamental refurbishment based on user feedback, primarily criticisms. The aim is to provide a “faster, smarter, and more visually appealing experience.” The update is currently being rolled out worldwide via the App Store and is expected to reach all users with automatic updates by mid-November.

    What’s New in the Upgraded Spotify Apple TV App

    The revamped app comes with several new features:

    Smarter listening: Users will experience uninterrupted playback, superior remote control via Spotify Connect, and recommendations from an AI-powered DJ.

    Designed for the big screen: A modern interface that genuinely seems at home on tvOS, rather than a magnified phone app.

    Video improvements: Music videos and video podcasts can now be viewed directly on the TV.

    Additional notable features: At last, proper queue management is available. Users can also see lyrics and adjust the playback speed for podcasts.

    The primary motive behind the revamp is to catch up with the competition. The older version of Spotify’s app was not just awkward; it was subpar compared to native rivals. Apple Music on Apple TV is deeply integrated, visually appealing, and comes with features such as Apple Music Sing (the karaoke mode), which maximizes the use of the large screen.

    For quite some time, Spotify subscribers who also used Apple TV were subjected to a substandard experience. It seemed like Spotify had disregarded the platform. This update signifies Spotify’s commitment to improving the user experience and not conceding its position in the market.

    This is particularly relevant for the large number of users who are part of Spotify’s ecosystem but prefer Apple’s hardware. Users no longer have to feel disadvantaged for not using Apple Music.

    Spotify users who primarily use Apple TV for streaming have been eagerly waiting for this upgrade. The old app was reportedly quite poor, slow, unattractive, and lacked basic features such as queue management. Hopefully, this update will elevate the app to a satisfying status.

    Questions & Answers

    What is the goal of the Spotify Apple TV app revamp?
    The goal is to provide a “faster, smarter, more visually appealing experience” for Apple TV users.

    What are the new features in the revamped Spotify Apple TV app?
    The new features include smarter listening, a modern interface designed for a big screen, video improvements, and additional features such as proper queue management, viewing lyrics, and adjustable playback speed for podcasts.

    Why was this update necessary?
    The previous version of the Spotify Apple TV app provided a substandard user experience compared to native apps like Apple Music. The update aims to improve the user experience and make the app competitive in the market.

  • Amazon’s Massive Restructure: 30,000 Corporate Jobs on the Chopping Block

    Amazon’s Massive Restructure: 30,000 Corporate Jobs on the Chopping Block

    Amazon is reportedly planning to eliminate around 30,000 jobs in its corporate division, a move that one analyst referred to as a ‘deep cleaning’ of the organization’s workforce. This reduction would affect about 10% of Amazon’s nearly 350,000 corporate employees. Overall, the company has approximately 1.55 million workers, including non-corporate roles.

    Trimming to Improve Efficiency

    Sources indicate that the primary goal of these layoffs is to reduce costs and rectify a situation of overstaffing that occurred during the height of the pandemic. The spokesperson for Amazon declined to comment on this matter. It is anticipated that these cuts could impact a range of divisions, including human resources, operations, devices and services, and Amazon Web Services. It is also suggested that the specific number of layoffs could fluctuate over time, in line with shifts in the company’s financial priorities.

    In terms of scale, this would be Amazon’s most substantial job reduction since late 2022 when it cut roughly 27,000 roles.

    Analyzing Amazon’s Decision

    Neil Saunders, the Managing Director of GlobalData, commented on the situation, characterizing the impending layoffs as a ‘deep cleaning’ of Amazon’s corporate workforce. He suggested this is part of a broader pattern of efficiency initiatives within the company, aimed at refining the focus of its corporate divisions.

    “Although Amazon could never be described as a flabby organization, it has become more complex and layered over time, and there is scope for some simplification,” Saunders said.

    He drew a distinction between Amazon’s situation and that of other companies, such as Target. According to Saunders, Amazon operates from a position of strength, with positive growth and room for further expansion. However, he warned that even a successful company like Amazon is not immune to the pressures of tight markets and rising fundamental costs. To maintain a robust bottom-line performance, Saunders believes it is necessary for the company to take decisive steps.

    He emphasized that these actions are particularly crucial given the high level of investment Amazon is making in areas like logistics and artificial intelligence. Saunders interpreted these layoffs as a move away from human capital towards technological infrastructure.

    In June, Amazon CEO Andy Jassy hinted at a possible reduction in the company’s corporate workforce due to the increased use of AI tools, particularly for automating repetitive and routine tasks.

    Hiring and Firing

    Despite these layoffs, the retail giant recently announced plans to hire 250,000 temporary workers across its fulfillment and transportation networks in the US in preparation for the upcoming holiday season.

    Questions & Answers

    Why is Amazon planning to lay off up to 30,000 corporate employees?
    Amazon is reportedly planning these layoffs to reduce costs and correct a situation of overstaffing that was exacerbated during the pandemic.

    Which divisions could be affected by Amazon’s layoffs?
    The layoffs could impact a variety of divisions, including human resources, operations, devices and services, and Amazon Web Services.

    Is Amazon hiring new employees despite the layoffs?
    Yes, Amazon recently announced plans to hire 250,000 temporary workers across its fulfillment and transportation networks in the US to prepare for the holiday season.

  • Le Saunda in Red: Unsteady Chinese Market Influences Major Losses for Hong Kong Footwear Retailer

    Le Saunda in Red: Unsteady Chinese Market Influences Major Losses for Hong Kong Footwear Retailer

    Le Saunda, a prominent footwear retailer in Hong Kong, recently revealed disappointing financial results for the first half of the fiscal year. The company’s performance reflects a troubling trend, marked by widespread losses across its operations.

    Significant Revenue Drop

    During the six months ending on August 31, Le Saunda’s revenue slumped by 36 per cent. The figures dwindled from RMB146.9 million ($20.66 million USD) to RMB95.8 million ($13.47 million USD).

    Gross Profit and Shareholder Returns Decrease

    The retailer’s gross profit also bore the brunt of financial instability, experiencing a 30 per cent reduction. It plunged from RMB79.4 million ($11.2 million USD) to RMB55.6 million ($7.8 million USD). Meanwhile, shareholder returns nose-dived to a significant loss of RMB31.4 million ($4.4 million USD).

    Reduction in Physical Stores

    The adversity further reflected in the company’s physical presence, with Le Saunda reporting a net reduction of 133 stores in Mainland China, its primary retail market, by the end of the period. This leaves the retailer with only 91 operational stores as against a markedly higher number in the same period from the previous year.

    Global Economic Uncertainties

    Le Saunda attributed its underperformance to a number of factors. The first half of 2025 witnessed frequent fluctuations in international trade relations. Coupled with a sluggish retail environment and low consumer confidence, these developments fostered global economic uncertainties. The company indicated that these conditions have undermined its future growth prospects.

    Questions & Answers

    What was Le Saunda’s revenue for the six months ending August 31?
    Le Saunda’s revenue for this period was RMB95.8 million ($13.47 million USD), marking a 36% drop from the previous year.

    What is the extent of Le Saunda’s gross profit reduction?
    Le Saunda experienced a significant 30% reduction in gross profit, going from RMB79.4 million ($11.2 million USD) to RMB55.6 million ($7.8 million USD).

    How has Le Saunda’s physical store presence been affected?
    Le Saunda reported a net reduction of 133 stores in its key market, Mainland China, leaving it with 91 operational outlets.

  • Revolutionize Your Fitness Journey with Fitbit’s Innovative AI-Powered Personal Health Coach

    Revolutionize Your Fitness Journey with Fitbit’s Innovative AI-Powered Personal Health Coach

    Fitbit Introduces Public Preview of Gemini-Powered Personal Health Coach

    The wearable device company, Fitbit, is unveiling a public preview of its new, Gemini-powered personalized health coach. This rollout serves as an intriguing introduction to the future of personalized fitness, and it will be available for eligible users to test from this week.

    The Launch of Fitbit’s AI-Powered Personal Coach

    Fitbit’s new artificial intelligence (AI)-powered coach, developed using Google’s Gemini technology, is set to revolutionize health and wellness practices. This AI coach is designed to function as a comprehensive fitness trainer, sleep counselor, and health advisor. Users can interact with the coach to establish goals or seek advice on their health-related queries. Examples of prompts that can be used include “Devise a 30-minute upper body workout I can do in my hotel room” or “Why did I wake up tired today?”. This AI can even assist you in framing questions for your next doctor’s consultation.

    However, it’s important to note that this AI coach is currently in its “preview” stage. It is being developed and modified based on active public feedback to improve its efficacy and user experience.

    Missing Features and Workarounds

    Since the AI coach is in its preview phase, it currently lacks some features that are standard in the traditional Fitbit app. Important elements such as health logging (including menstrual health, nutrition, and water logging), key metrics (the stress management score and cardio fitness score), and social features (friends, groups, leaderboards, and badges) are not included in the preview version.

    Recognizing these limitations, Google has designed a mechanism that allows users to switch between the new preview and the standard Fitbit app experience, providing the opportunity to test the AI coach while still being able to access the complete features of the traditional app.

    The Future of Health and Wellness

    This preview stands as a significant step towards Google’s grand vision of AI-driven health and wellness. The potential of a Gemini-powered coach to analyze user data and yield profound, actionable insights is phenomenal. Google emphasizes that the development of this AI coach is being conducted responsibly, backed by scientific evidence, and ensuring user data security and personalization. Early access for dedicated Premium users will enable them to test these potent features and provide valuable feedback.

    This development indicates the direction health and fitness technology is taking, with competitors such as Apple also rumored to be heading in a similar direction with their Health application. While it cannot replace professional medical advice or personalized gym training, this technology can assist in addressing quick health-related queries.

    The current version may be lacking some core features, but the objective of this preview is to provide a hands-on experience of the future of fitness technology, inviting users to be part of this exciting journey.

    Fitbit Premium users are encouraged to explore this new feature. Its easily toggled nature means users can try it with no downside. The updated experience will be available for Fitbit tracker and Pixel Watch owners, starting from October 28th.

    Questions & Answers

    What is the new Fitbit AI coach?
    The AI coach is a new personalized health guide developed by Fitbit, powered by Google’s Gemini technology. It acts as a fitness trainer, sleep counselor, and wellness advisor.

    What features are missing in the AI coach’s preview version?
    The preview version currently lacks certain features such as health logging (including menstrual health, nutrition, and water logging), key metrics, and social features.

    When will the updated experience be available?
    The updated experience will be available for Fitbit tracker and Pixel Watch owners from October 28th.

  • Revolutionizing User Interaction: Google Messages Gears Up for Context-Dependent Menus

    Revolutionizing User Interaction: Google Messages Gears Up for Context-Dependent Menus

    In 2009, the HTC HD2 was launched with a 4.3-inch display, which at the time was considered to be the maximum size for a smartphone screen. The HD2 was powered by the Windows Mobile 6.5 operating system and was applauded for its visually-appealing home screen. For its time, the 4.3-inch screen was considered enormous, with many analysts predicting that smartphone displays would not get any larger.

    Rise of the Phablet

    However, by 2011, Samsung shattered this belief with the introduction of the Samsung Galaxy Note. The device was equipped with a 5.3-inch screen, effectively creating a new category of phones known as “phablets”. The term phablet, a portmanteau of phone and tablet, was coined to describe these larger devices. As the size of Android screens continued to grow, it became increasingly challenging to operate certain apps single-handedly due to the positioning of the app’s elements on a larger screen. Google Messages is one such app.

    The Problem with Large Screens

    Operating these larger phones with one hand can be a struggle, unless, perhaps, one has hands as large as those of NBA Hall of Famer Shaquille O’Neal. In particular, reaching the hamburger menu in the upper right corner of the screen can be quite a stretch. This inconvenient design left many users at risk of straining their hands.

    A New Solution from Google

    In response, Google seems to be ready to replace the hamburger menu on Google Messages with a more user-friendly context menu. This new feature will allow users to access any critical aspect of the app from anywhere in the chat. At present, users must reach the top of the screen to access essential buttons, such as the delete button, by long-pressing a message.

    With the proposed change, a long press on an open chat will show reactions, and tapping the hamburger icon will provide access to options such as Reply, Share, Forward, and View Details. Furthermore, the context menu will dynamically adjust depending on the selected message.

    Enhanced User Experience

    The positioning of these options right under the chat will make it easier for users to select an option without needing to stretch their fingers too far. The new user interface will also make it clearer which chats have been selected. When multiple messages are chosen, a checkmark will appear on the selected messages, simplifying the selection and deselection process.

    Questions & Answers

    What was the screen size of the HTC HD2 launched in 2009?
    The HTC HD2 had a screen size of 4.3 inches.

    What is a phablet?
    A phablet is a category of phones that are larger than traditional smartphones but smaller than tablets. The term is a portmanteau of ‘phone’ and ‘tablet’.

    What changes is Google planning to make to Google Messages?
    Google is planning to replace the hamburger menu in Google Messages with a context menu, making it easier for users to access critical features of the app from anywhere within a chat.

  • Bangkok Tops List as World’s Most Expensive City for Renters, Reveals DWS Housing Affordability Review 2025

    Bangkok Tops List as World’s Most Expensive City for Renters, Reveals DWS Housing Affordability Review 2025

    Bangkok, Thailand’s capital city, has distinguished itself as the least affordable city in the world for renters, as per the Housing Affordability Review 2025. The report, compiled by Germany’s DWS, indicates that the average middle-class family in Bangkok spends nearly 79% of their disposable income on renting a two-bedroom apartment.

    The Root of High Rental Rates

    The city’s inflated rental prices are primarily due to a scarcity of condominiums. The second quarter saw condo availability drop to a 16-year low, a situation exacerbated by climbing construction costs and high-interest rates.

    Global Ranking of Affordability

    Following Bangkok, Mumbai and Mexico City were ranked second and third as the least affordable cities, with renters spending 66% of their disposable income on rent. Hong Kong came in fourth at just over 60%, and Johannesburg, South Africa, was in fifth place at approximately 58%. These cities are part of a group of 24 global cities with the most challenging rental markets. Other Asian cities on this list include Manila, Beijing, Hanoi, and Singapore.

    The study analyzed the rent to median disposable income ratio in 80 cities. A lower ratio signifies more affordable rent, with the worldwide average ratio standing at 38%.

    Cities with More Affordability

    On the other end of the spectrum, Salt Lake City was deemed the most affordable city, with a ratio of 20%. Leipzig and Austin followed closely, both featuring a ratio of 23%.

    Cities that ranked lower in affordability experienced a more significant decrease in affordability ratios compared to those ranking higher. Additionally, these cities saw their remaining spending power increase at a slower rate compared to cities demonstrating more economic resilience.

    Disposable Income After Rent

    The report also calculated the disposable income households have left after paying their monthly rent. Singapore topped the list globally with approximately $8,000 of leftover income, which is twice the global average. San Francisco followed with $7,650, and Abu Dhabi was third with $7,000.

    According to the report, wealthier cities typically benefit from high-income levels and balanced housing costs, which allows residents to retain robust purchasing power even after paying rent.

    Questions & Answers

    What factors contribute to Bangkok’s high rental rates?
    A lack of available condos, heightened construction costs, and high-interest rates are all factors that contribute to Bangkok’s high rental rates.

    Which city has the most affordable rental market?
    Salt Lake City is considered the most affordable city for renters, with a rent to disposable income ratio of 20%.

    Which cities have the highest disposable income after rent payments?
    Singapore, San Francisco, and Abu Dhabi lead the world in terms of disposable income after rent, with Singapore households having an average of $8,000 left over.

  • Dollar Dips Against Dong, Soars to Two-Week High Against Yen Amid Global Trade Talks

    Dollar Dips Against Dong, Soars to Two-Week High Against Yen Amid Global Trade Talks

    The US Dollar’s Fluctuating Performance Against Foreign Currencies

    The US dollar experienced a decline against the Vietnamese dong on Monday morning, while it simultaneously reached its most robust position in over two weeks against the Japanese yen. The greenback was sold by Vietcombank at a rate of VND26,351, marking a 0.004% dip from the weekend. However, the currency witnessed an increase of 0.18% on the black market, bringing it to VND27,750.

    Rate Adjustments by the State Bank of Vietnam

    The State Bank of Vietnam responded to these shifts by lowering its reference rate by 0.004% to VND25,097.

    Global Performance of the US Dollar

    Globally, the US dollar climbed to a high that hasn’t been seen in over two weeks against the yen on Monday, as critical worldwide trade negotiations and central bank meetings commenced. The dollar experienced a 0.15% increase against the yen, bringing it to 153.07 and hitting a peak of 153.17, the highest since October 10th. The dollar index, which assesses the greenback against a select group of peers, rose by 0.05% to reach 98.97.

    Performance Against Other Currencies

    Apart from the yen, the US dollar’s performance against other currencies remained steady. The euro remained at $1.1622 while sterling saw a slight boost of 0.04% to $1.3314. The Australian dollar also gained 0.2% against the greenback, reaching $0.6528.

    Mahjabeen Zaman, head of foreign exchange research at ANZ, suggested in a recent podcast that the strength of the dollar would likely continue in the near term. She stated: “Fed cuts are fully priced in for October and December meetings. So if anything, any cautious communication from the Fed would likely be more supportive for the U.S. dollar.”

    Questions & Answers

    What was the performance of the US dollar against the Vietnamese dong and Japanese yen recently?
    The US dollar declined against the Vietnamese dong, but it reached a more than two-week high against the Japanese yen.

    How did other currencies perform against the US dollar?
    The euro and sterling remained steady against the US dollar, while the Australian dollar saw a slight increase.

    What are the predictions for the near-term performance of the US dollar?
    According to Mahjabeen Zaman, head of foreign exchange research at ANZ, the dollar’s robust performance is expected to persist in the near term.

  • Overnight Race for Affordable Housing: Hanoi Residents Brave the Cold for a Shot at Social Accommodation”

    Overnight Race for Affordable Housing: Hanoi Residents Brave the Cold for a Shot at Social Accommodation”

    In a show of high demand for affordable housing in Hanoi, individuals queued overnight during the past weekend to submit their applications for the social housing project, Calyx Residence. With the limited quantity of 466 apartments available in the development, applicants arrived well before the submission start time at 8:30 am on Sunday, in hopes of securing their chance at purchasing a home.

    Braving the Cold for a Chance at a New Home

    Applicants prepared for a long wait, bringing along food and water to endure the overnight queue in Hanoi’s chilly weather that dipped to 18-19 degrees Celsius. Among those was Tuan, a freelance worker, who arrived as early as 11 pm on Saturday to secure his place in line. Reflecting on the experience, he noted that just a few minutes could have been the difference between his application being accepted or rejected, making the overnight wait a necessary hardship.

    By 6 am on Sunday, the queue had significantly grown. Bich, a resident of Phuc Thinh Commune, arrived at 7 am with her husband, only to find a considerably long line already formed. Despite the high demand that exceeded morning application numbers, those unable to submit their applications were allowed to register and apply the next day.

    Providing Comfort in the Wait

    The Ministry of National Defense’s 319 Corporation, the project developer, acknowledged the situation and provided amenities such as tarps for shelter, drinking water, and dry rations for the people waiting in line.

    The Calyx Residence project, which started construction late last year, is set on a 1.5-hectare plot. It will consist of four nine-story buildings and is projected to be completed by the end of 2026. The majority of the apartments, 419 units, will be sold directly, while 47 others will be subject to rent-to-own agreements. The prices range from VND824 million to VND1.5 billion, translating to approximately VND20.6 million per square meter, significantly less than Hanoi’s average apartment price of VND85.6 million per square meter.

    Rising Demand Meets Limited Supply

    Given the project’s prime location near Co Loa Road, a main artery in Dong Anh, and the rising prices of social housing, it is expected that the competition for securing an apartment in this development will be fierce.

    Despite the launch of several social housing projects in Hanoi, the market remains dominated by commercial developments. This has led to an increase in prices for social housing units, which have risen from VND20 million to VND25-29 million per square meter over the past three years.

    As part of a national plan to build at least one million social housing units, Hanoi is expected to contribute 56,200 units by 2030. The city has set a target to complete 4,670 units this year alone.

    Questions & Answers

    How many apartments are being built in the Calyx Residence project?
    There are 466 apartments being built in the Calyx Residence project.

    What measures were taken to accommodate the people waiting in line to submit their housing applications?
    The project developer, the Ministry of National Defense’s 319 Corporation, provided amenities such as tarps for shelter, drinking water, and dry rations for the people waiting in line.

    Who gets priority for purchasing the housing units?
    Priority is given to those who do not own a house, people in low-income groups, and employees of defense and security agencies.

  • Dak Lak Durian Crisis: Testing Halt Triggers Heavy Losses for Farmers and Exporters

    Dak Lak Durian Crisis: Testing Halt Triggers Heavy Losses for Farmers and Exporters

    Durian orchards in Dak Lak Province are suffering significant losses as export activities have halted and demand has plummeted due to delays in chemical residue testing. Doan Thi Thuy, an orchard owner in Krong Pak District, has experienced the harsh realities of this situation with fruits beginning to fall from her over 100 durian trees in recent days.

    Failed Deals and Falling Prices

    Thuy mentioned that several large-scale traders had shown interest in purchasing her durians for VND82,000 (US$3.12) per kilogram, even going so far as to put down deposits. Unfortunately, these deals fell through, forcing her to sell the now overripe fruits to smaller traders at a significantly reduced price of VND20,000-25,000 per kilogram.

    Impacts of Testing Delays

    The Dak Lak Durian Association recently highlighted that almost 2,000 containers of fruits have been stuck at various locations including warehouses, packing facilities, and border checkpoints since October 11. This bottleneck has occurred due to the halt in chemical residue testing, which is a critical step in obtaining the necessary certifications for export.

    The peak durian harvesting season in Dak Lak, a key producing province in the Central Highlands, is currently underway. However, the paused testing has resulted in significant losses for farmers.

    Orchard Owners Bearing the Brunt

    Doan Kiem, a durian farmer, has resorted to selling his durians, originally intended for export, at just a quarter of the agreed-upon price to anyone willing to buy. Kiem spends approximately VND600 million annually to maintain his 500-tree orchard and estimates his losses in the hundreds of millions due to this predicament.

    The pause in testing has not only affected farmers but also exporters who are left with no other option but to wait for the test results. Some businesses, fearing their fruits will spoil, have tried to sell in the domestic market or have processed them. Delays in testing have even caused several shipments of durians to crack and spoil, leading to losses amounting to billions of dong.

    The Path Forward

    A testing center in northern Vietnam expects to resume operations shortly. The temporary halt was to ensure the stability and accuracy of the equipment after its heavy use during the peak season. Vietnam has 24 labs that have been approved by Chinese customs to test a total of 3,200 samples per day. However, the heavy workload has led to equipment breakdowns at many labs, while others have had to pause operations due to license renewal processes.

    The Ministry of Agriculture and Environment has instructed relevant agencies to review all labs and provide necessary assistance. It has also advised the Plant Protection Department to cooperate with Chinese authorities to get more testing facilities approved.

    The Vietnam Fruit and Vegetable Association has suggested that testing facilities should plan their maintenance schedules in advance and notify businesses sooner to avoid further bottlenecks. It also encourages exporters to keep a close eye on market trends and adjust their shipping schedules to avoid congestion during peak seasons.

    Despite the current challenges, Vietnam managed to export $1.8 billion worth of durians in the first eight months of 2025. Fresh fruit shipments accounted for $1.52 billion of this total, marking a 25% decline from the previous year. However, frozen durian exports saw an impressive increase, up 127% to $265 million.

    Questions & Answers

    What is the main reason for the current losses in Dak Lak’s durian industry?
    The primary reason is the delay in chemical residue testing, which has halted exports and led to a significant drop in demand.

    How have testing delays affected durian farmers and exporters?
    Testing delays have resulted in massive losses for durian farmers, with fruits falling from trees and deals with traders falling through. Exporters are also in a bind as they can’t export their produce without the necessary certifications.

    What measures are being taken to resolve this issue?
    A testing center in northern Vietnam expects to resume operations shortly. Additionally, the Ministry of Agriculture and Environment has instructed relevant agencies to review all labs, provide necessary assistance, and work with Chinese authorities to get more testing facilities approved.

  • Despite Shipping 7 Million Tonnes, Vietnam Rice Exports Witness Slump Amid Falling Prices and Weak Global Demand

    Despite Shipping 7 Million Tonnes, Vietnam Rice Exports Witness Slump Amid Falling Prices and Weak Global Demand

    From the start of the year through October 15, Vietnam exported more than 7 million tonnes of rice. Despite this significant export volume, domestic paddy and rice prices have seen a decline due to reduced purchases from exporters.

    Rice Export Data

    The cumulative rice exports from Vietnam for the mentioned period were 7.02 million tonnes. These exports were valued at approximately $3.59 billion. When compared to the same time frame from the previous year, there was a 4.4% decrease in volume and a 21.9% reduction in value, according to data from the Vietnam Food Association (VFA).

    Last week, the cost of 5% broken jasmine rice was between $420 and $435 per tonne, which is close to a two-month low. A trader based in Ho Chi Minh City reported that domestic trading activity has been relatively stagnant. This is primarily due to many exporters slowing their paddy purchases from farmers as a result of weak overseas demand.

    Domestic Market Performance

    In the domestic market, jasmine paddy was trading at approximately $0.20 per kilogram, reflecting a decrease from the previous week. Conversely, the price of ordinary paddy saw an increase to an average of $0.20 per kilogram, as reported by the VFA.

    In Can Tho, a city in the Mekong Delta region, prices for various types of paddy remained steady. For instance, jasmine paddy was priced at $0.36 per kilogram, OM 18 at $0.29, IR 5451 at $0.27, and ST25 at $0.40, as per the data shared by the Institute of Policy and Strategy for Agriculture and Environment.

    In An Giang province, the Department of Agriculture and Environment reported that fresh paddy prices ranged from $0.21 to $0.25 per kilogram, depending on the variety. Retail rice prices within the province were observed to range between $0.52 and $0.95 per kilogram.

    Production Updates

    Regarding production, the Ministry of Agriculture and Environment stated that by October 20, nearly 1.24 million hectares of the 2025 summer-autumn crop were sown across the Mekong Delta provinces. Harvesting has been completed with an average yield of approximately 6.06 tonnes per hectare, or an estimated total of 7.51 million tonnes of paddy.

    For the autumn-winter crop, 763,000 hectares were planted, surpassing the planned area by 102.8%. Of this, 263,000 hectares have been harvested with an average yield of 5.68 tonnes per hectare.

    Questions & Answers

    What is the total volume of rice that Vietnam exported from the beginning of the year through October 15?
    Vietnam exported more than 7 million tonnes of rice during this period.

    How have domestic paddy and rice prices in Vietnam been affected?
    Domestic paddy and rice prices have seen a decline due to reduced purchases by exporters.

    What has been the impact on domestic trading?
    Domestic trading activity has been relatively stagnant due to many exporters slowing their paddy purchases from farmers because of weak overseas demand.

  • United Airlines Reconnects US and HCMC: Daily Flights Resume After Eight-Year Break

    United Airlines Reconnects US and HCMC: Daily Flights Resume After Eight-Year Break

    After an eight-year pause, United Airlines, one of the top three largest American carriers, has restarted its flight operations between two U.S. cities and Ho Chi Minh City (HCMC). As of this week, the airline has begun operating daily flights from HCMC to Hong Kong, which will then connect passengers to Los Angeles or San Francisco, both located in the state of California. For each of these flights, the airline will utilize its wide-body Boeing 787-9 Dreamliner aircraft, which has a seating capacity of 257.

    Historical Precedent

    United Airlines has a distinctive history of being the first U.S. airline to conduct direct flights to Vietnam, following the bilateral air transport agreement in 2003. It maintained its operations between 2007 and 2012, flying to HCMC’s Tan Son Nhat International Airport.

    Fleet and Competition

    Boasting a fleet of over 1,000 aircraft, United Airlines remains a significant player in the American aviation sector, sitting alongside Delta Air Lines and American Airlines in competition for the top spot.

    Up until recently, Vietnam Airlines was the sole carrier providing commercial services between the U.S. and Vietnam. It operated three weekly round-trip flights between HCMC and San Francisco.

    Strategy and Expansion

    In discussing the airline’s decision to resume flights to HCMC, Patrick Quayle, the senior vice president of global network and alliances at United Airlines, stated that this move is a part of the carrier’s expansion strategy in the Pacific region.

    The airline has ambitious plans for growth. By the end of this year, United Airlines expects to serve 32 destinations in the Pacific region. On a worldwide scale, it aims to operate more than 850 daily flights to over 150 international destinations by next year.

    Questions & Answers

    What are United Airlines’ plans for expansion in the Pacific region?
    United Airlines aims to serve 32 destinations in the Pacific region by the end of this year.

    What is the seating capacity of United Airlines’ Boeing 787-9 Dreamliner aircraft used for these flights?
    The Boeing 787-9 Dreamliner aircraft used by United Airlines for these flights has a seating capacity of 257.

    When did United Airlines first operate direct flights to Vietnam?
    United Airlines first operated direct flights to Vietnam following the bilateral air transport agreement in 2003, and continued these operations from 2007 to 2012.

  • UBS Eyes Nationwide Expansion in US: A Game-Changer in Wealth Management Services

    UBS Eyes Nationwide Expansion in US: A Game-Changer in Wealth Management Services

    UBS, a Swiss multinational investment bank and financial services company, has signaled its plans to significantly expand its footprint in the United States’ financial market. This move demonstrates UBS’s dedication to deepening its presence across the American financial landscape.

    Existing Limitations and Expansion Plans

    With its current state-level charter, UBS has been able to offer its wealth management clients in the US a variety of banking services, including cash management, credit cards, and securities-based lending. However, the state-level charter also imposes certain limitations on the range of services the bank can offer.

    To expand its wealth management arsenal, UBS Bank USA, a subsidiary of UBS, has applied to the Office of the Comptroller of the Currency (OCC). The approval of this application would allow UBS to provide a more comprehensive portfolio of banking and lending services, including traditional checking and savings accounts.

    In essence, UBS is striving to deliver a full suite of banking services to its wealth management clients in the United States. This will make it easier for these clients to manage their finances in one location. The license is expected to facilitate a gradual expansion of the bank’s current range of services.

    A Testament to Long-Term Commitment

    UBS anticipates gaining regulatory approval in 2026, a process which is subject to review by the US authorities. This strategic move comes at a time when UBS is strengthening its status as the world’s largest wealth manager. This followed its acquisition of Credit Suisse and reflects its effort to balance its global scale with a deeper penetration in key markets, including the United States.

    Questions & Answers

    What does UBS’s application to the OCC imply?
    It signifies the bank’s intent to offer a broader range of banking and lending services, including traditional checking and savings accounts, to its wealth management clients in the US.

    What factors have provoked UBS’s decision to expand its services in the US?
    The decision is a reflection of UBS’s strategy to strengthen its position as the world’s largest wealth manager, following its acquisition of Credit Suisse, and to deepen its roots in key markets such as the US.

    When does UBS anticipate gaining regulatory approval for the expansion?
    UBS expects to gain regulatory approval by 2026, a process that is subject to a review by the US authorities.

  • Vietjet Partners with Airways Aviation to Train EASA-Certified Pilots

    Vietjet Partners with Airways Aviation to Train EASA-Certified Pilots

    Vietjet and global aviation education leader Airways Aviation have announced a strategic partnership to train the next generation of aviation professionals. The partnership will enhance its readiness for further global network expansion and meet rising travel demand. The airline has actively expanded its international services, including the frequency increase for Singapore – Da Nang and Singapore – Phu Quoc routes.

    The signing ceremony took place in Finland, witnessed by Vietnam’s General Secretary To Lam during his official visit to Finland.

    Under this partnership, Airways Aviation will collaborate with Vietjet Aviation Academy (VJAA) to deliver international-standard pilot training programs in Europe. These programs will adhere to regulations set by the International Civil Aviation Organization (ICAO), the European Union Aviation Safety Agency (EASA), and the Civil Aviation Authority of Vietnam (CAAV).

    The collaboration will include specialised MPL (Multi-crew Pilot Licence) and CPL (Commercial Pilot Licence) courses designed to cultivate high-calibre pilots for Vietjet’s expanding international network, including routes across Asia-Pacific, Europe, and beyond.

    Vietjet currently employs over 9,000 staff from more than 60 nationalities and operates one of Asia’s youngest fleets. The airline continues to expand its network across key regional hubs such as Singapore, with four direct routes to Vietnam, enhancing connectivity, and creating opportunities for aviation professionals across Asia.

    As an IATA-accredited training partner in Vietnam, VJAA has trained thousands of aviation professionals, including pilots, flight attendants, engineers, and dispatchers, empowering the dream of conquering the skies and driving the industry’s growth.

    Airways Aviation, with over 45 years of experience, operates a network of aviation academies across Europe, the Middle East, Asia, and Australia, offering students access to internationally recognised flight training pathways.