Author: Mei Ling Tan

  • Thailand’s Industrial Sector Takes a Leap Forward

    Thailand’s Industrial Sector Takes a Leap Forward

    The collaboration aims to support the IoT and AI Manufacturing Line Analysis Project through several key objectives. It focuses on advancing technology by promoting the integration and expansion of IoT and AI technologies within Thailand’s industrial sector.

    A core working group will be established to ensure the TGI stays ahead of technological advancements. The initiative will also create a knowledge transfer hub, serving as a central resource for sharing information on IoT and AI technologies related to production processes. Additionally, the partnership will organize seminars, training sessions, and educational activities to transfer specialized knowledge to industrial personnel and educational institutions.

    Under the terms of the MOU, Mobile Innovation Company Limited (MI) will provide significant support to the TGI, including offering training courses and technical education at no cost; supplying the necessary equipment, tools, and teaching materials; and co-organizing training sessions and educational activities aligned with the project’s objectives. In return, the TGI will develop and maintain the TGI Smart Factory room; assign dedicated staff to collaborate with MI in designing and implementing teaching content; and facilitate training, seminars, and consultations as part of the IoT & AI Manufacturing Line Analysis Project.

    Additionally, NTT Com will provide exhibits, educational materials, and services; implement related support activities such as exhibitions, training, seminars, and consultations; and promote understanding of the services and their details.

    This collaboration represents a significant advancement in Thailand’s industrial sector towards modernization and technological excellence. The partnership between TGI, MI, and NTT Com signifies a unified effort to equip Thailand’s workforce with the skills and knowledge needed to succeed in an increasingly automated and intelligent industrial environment.

  • Singapore’s Dyson disappoints union with 1-day notice layoff

    Singapore’s Dyson disappoints union with 1-day notice layoff

    A workers’ union in Singapore has expressed disappointment in household appliance maker Dyson for informing it of a layoff only one day in advance.

    The United Workers of Electronics and Electrical Industries (UWEEI) said in a Facebook post Wednesday that the company only gave it a one-day notice about the layoff on Tuesday, which was “unacceptable.”

    The move did not give sufficient time for the union, Dyson and the affected workers to discuss the matter to ensure employees’ interest and welfare are supported, it added.

    It has brought the matter to the attention of the Ministry of Manpower.

    Dyson, which did not disclose the number of workers it had let go, said that the company had “respectfully informed UWEEI in advance.”

    The company was following all prevailing guidelines from the Ministry of Manpower and providing employees with the support they need, including outplacement services and employment assistance programs, it added.

    The layoff came three months after it announced a global restructuring that involved about 1,000 job cuts in the U.K.

    The company said at the time that Singapore employees were “not directly impacted” by the plan.

    Some employees told Channel News Asia that the retrenchment exercise was done “very discreetly” and came as a surprise.

    “People are shocked and have low morale, as they are not sure when their turn might come,” a laid-off employee spoke on condition of anonymity.

    Dyson is known as a manufacturer of high-end vacuum cleaners, air purifiers and bladeless fans. It opened the first Singapore office in 2007 and chose the country as its global head office in 2019.

  • Philippines imposes 12% VAT on digital services by tech giants

    Philippines imposes 12% VAT on digital services by tech giants

    The Philippines will impose a 12% value-added tax on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet, in a move that aims to level the playing field with domestic players, the country’s Bureau of Internal Revenue (BIR) announced on Wednesday.

    Previously, on Tuesday, President of the Philippines Ferdinand Marcos Jr signed into law the imposition of VAT on non-resident providers of digital services such as streaming services and online search engines.

    Only domestic digital service providers are currently subject to the 12% VAT, BIR said.

    BIR Commissioner Romeo Lumagui said in a statement that the taxation will promote fair competition amongst businesses that are profiting from consumers in the Philippines. A level playing field produces better products and services.

    Tech companies like Netflix, Disney, Google and Amazon have not made any comments.

    The Philippines aims to collect 105 billion PHP (US$1.9 billion) from the VAT between 2025 and 2029. It plans to allocate 5% of this revenue to fund projects for creative industries, the presidential communications office noted.

    According to BIR, digital services provided by foreign firms are considered rendered in the Philippines if the services are consumed in the Southeast Asian nation.

    Since the Covid-19 pandemic, tech giants have experienced higher usage in Southeast Asia, but they also face increasingly stringent fiscal tax regimes.

  • Etihad Cargo reaches 10-year milestone in Vietnam

    Etihad Cargo reaches 10-year milestone in Vietnam

    Etihad Cargo, the cargo and logistics arm of Etihad Airways, is celebrating a decade of successful operations in Vietnam. This milestone highlights the carrier’s commitment to supporting Vietnam’s booming trade and economic growth, particularly in the high-tech and manufacturing sectors.

    Since the launch of freighter services in July 2014, Etihad Cargo has continuously expanded its operations in Vietnam. The airline began with two A330 freighter flights to Hanoi per week, offering 120 tonnes of cargo capacity. Today, Etihad Cargo operates four weekly Boeing 777F freighter flights, providing 400 tonnes of capacity to support the growing market demand. Etihad Cargo has played a crucial role in transporting high-tech goods for major global brands such as Samsung, Apple, Dell, and LG, alongside garments, textiles, footwear, and other products from Vietnam to Europe, the US, the Middle East, and Africa.

    In addition to its Hanoi operations, Etihad Cargo also serves Ho Chi Minh City, Vietnam’s second-largest air cargo market. The carrier offers two weekly charter flights between Ho Chi Minh City and Kuala Lumpur, effectively creating an online station to provide customers with a reliable solution for transporting cargo globally via Kuala Lumpur. Furthermore, Etihad Cargo leverages its interline partners to offer customers access to other key Asian hubs, including Denpasar, Singapore, Phuket, Bangkok, and Manila.

    Etihad Cargo’s SecureTech product, introduced to support the growing demand for electronics shipments, has seen significant growth in Vietnam. In 2024, SecureTech shipments from Hanoi saw a 43 per cent year-on-year increase, rising to 5,174 tonnes from 3,618 tonnes during the same period in 2023. This growth reflects Vietnam’s critical role in the global electronics supply chain and Etihad Cargo’s ability to provide reliable logistics solutions for sensitive high-tech goods.

    Vietnam, recognised as one of the fastest-growing economies in the world, remains a strategic market for Etihad Cargo. The carrier remains committed to increasing its frequencies and capacity in both Hanoi and Ho Chi Minh City to meet the ever-growing demand for airfreight services. This expansion aligns with Etihad Cargo’s goal of maintaining its position as the Air Cargo Partner of Choice for customers in Vietnam and beyond.

    Reflecting on the 10-year milestone, Stanislas Brun, Vice President Cargo, said: “Etihad Cargo’s decade of successful operations in Hanoi and across Vietnam demonstrates the carrier’s long-term commitment to this dynamic market. By continually enhancing its products and services, expanding capacity, and investing in digitalisation, Etihad Cargo ensures that customers receive the high-quality air cargo solutions they expect. Etihad Cargo looks forward to further strengthening its presence and meeting the evolving logistics needs of Vietnam.”

    Etihad Cargo has also made significant strides in digitalisation, with the majority of Vietnamese customers utilising the carrier’s online booking platform and track-and-trace capabilities. This has streamlined the shipping process, enabling greater efficiency and customer satisfaction. In 2021 and 2022, the Hanoi station achieved the highest revenue contribution across Etihad Cargo’s network, further cementing its importance in the airline’s global operations.

    As Etihad Cargo continues to support Vietnam’s economic growth, the airline is committed to providing reliable and innovative air cargo solutions that help drive the country’s expanding trade footprint.

  • Thailand: Crafting a Secure and Inclusive Future in the Global Digital Arena

    Thailand: Crafting a Secure and Inclusive Future in the Global Digital Arena

    The Thai government has taken significant strides towards fostering an inclusive digital environment. Recent initiatives aim to bridge the digital divide, ensuring that individuals with disabilities have access to technology that enhances their quality of life. Notably, the establishment of digital applications tailored for various disabilities underscores the government’s commitment to this cause. This focus was evident in a seminar led by Mr. Teerawut Thongphak, Deputy Secretary General of the National Digital Economy and Society Committee. The seminar focused on the use of digital applications for people with disabilities and attracted over 200 participants, showcasing a collective effort towards greater inclusivity.

    Thongphak articulated the government’s vision for leveraging technology to support national development. He emphasized the need for robust digital infrastructure that not only reduces social inequalities but also creates equal opportunities for all citizens, particularly those with disabilities. The emphasis on accessibility is pivotal in ensuring that every Thai citizen can utilize digital advancements to improve their lives and contribute to society.

    Thailand 4.0 is a national strategy designed to transform the country into an innovation-driven economy. Inclusivity is a key pillar, and aims to reduce social inequality, promote equal economic opportunities, and ensure that marginalized communities, such as rural populations, benefit from digital advancements.

    Thailand’s National e-Payment initiative aims to promote financial inclusion by providing access to financial services through digital channels. The plan includes the development of digital payment systems to reduce cash dependence and make transactions more accessible for all, including rural and low-income populations.

    The Village Fund is a microfinance initiative that provides small loans to rural communities to foster local development and entrepreneurship. The initiative is designed to promote inclusivity by giving low-income and rural citizens access to capital.

    The Net Pracharat Project has been a cornerstone in expanding broadband access to underserved areas, with over 24,700 rural villages receiving free public Wi-Fi, thus enhancing digital access for rural communities. Complementing this, the Digital Community Center Initiative has established centers in rural areas to provide free internet, digital literacy training, and access to e-commerce and government services, ensuring that even remote communities benefit from digital opportunities.

    In addition to expanding access, Thailand has prioritized digital literacy and workforce development. Programs like the Thailand Digital Workforce Development Program and the Coding Thailand Initiative aim to equip citizens, particularly in rural areas, with digital skills necessary for the modern economy. These initiatives provide free courses on coding, digital marketing, and entrepreneurship, targeting students and small businesses in underserved communities.

    Thailand’s e-government services and smart city initiatives also play a crucial role in bridging the digital divide. By digitalizing public services and integrating digital infrastructure in smart cities like Phuket and Chiang Mai, the government is ensuring that citizens can access essential services online, regardless of their location. These efforts, supported by the Universal Service Obligation Fund, which finances telecom expansion in remote areas, are helping to reduce the digital gap, promoting inclusivity, and empowering marginalized communities to participate in the country’s growing digital economy.

    With Thailand experiencing rapid advancements in mobile connectivity, telcos have become key partners in ensuring that digital services reach all corners of society, including underserved and marginalized populations.

    However, as Thailand undergoes a major digital transformation, senior citizens are at risk of being left behind due to a lack of digital literacy. With around 13 million people aged 60 years or older in a population of 66.05 million, the country is already grappling with the challenges of an aging society. According to the e-Conomy SEA Report 2022, Thailand’s digital economy is expected to reach USD 53 billion by 2025, with a 15% compounded annual growth rate (CAGR), and is projected to double from approximately USD 100 billion to USD 165 billion by 2030.

    Despite these advancements, less than 15% of people aged 75 years or older have internet access in Thailand, as reported by the International Telecommunication Union (ITU). In contrast, the internet access rate among seniors in more developed regions like Hong Kong and Japan is significantly higher. The National Statistical Office’s survey indicated that while 62.1% of the elderly aged 60 years or above have internet access, 37.9% still do not.

    Additionally, 84.3% of Thai seniors have access to smartphones, but those living in rural areas face greater challenges; 44.2% lack internet access, and 18% do not have access to smartphones. This digital divide underscores the need for targeted efforts to improve digital literacy among older adults, ensuring they can engage with the increasingly digital economy.

    Thai telecom companies are actively bridging the digital divide by expanding network infrastructure to rural areas, ensuring underserved communities have access to digital services. AIS, Thailand’s largest mobile operator, has led efforts in rural network expansion by installing mobile towers in remote areas and providing affordable data plans. These initiatives ensure that rural populations can benefit from high-speed internet, supporting online education, healthcare, and economic opportunities.

    True Corporation’s (True) initiatives focus on delivering affordable, high-quality internet to underprivileged schools and communities. True has donated high-speed internet to schools in remote regions, provided low-cost internet packages, and collaborated with the government to distribute digital devices.

    State-owned NT and dtac have also played a key role in fostering inclusivity. NT has expanded internet access through its involvement in smart city and village connectivity projects, ensuring that even remote villages can access government digital services. Meanwhile, dtac’s “Safe Internet” initiative focuses on educating young people in rural communities about responsible internet use, equipping them with essential digital skills. Together, these efforts have significantly contributed to reducing Thailand’s digital divide.

    At the core of Thailand’s inclusivity efforts are several innovative applications developed specifically for individuals with disabilities. These applications cater to a wide range of needs, addressing visual, hearing, mobility, learning, mental, intellectual, and autism-related challenges.

    Among these, the D4D APP PORTAL serves as a comprehensive application center that includes tools like InfoPage for All, which provides essential information on support centers; and My Mood for All, a mental health assessment system.

    Thai developers have created apps that use AI to translate sign language into text and speech in real-time. These tools help bridge the communication gap between hearing-impaired individuals and the wider population.

    Developed by the Department of Land Transport, the “Taxi OK” app includes accessibility features for passengers with disabilities. It allows users to book wheelchair-accessible taxis and provides drivers with instructions to assist passengers.

    Such initiatives highlight how technology can be harnessed to foster a more inclusive society, enabling individuals with disabilities to thrive in a digital-first world.

    The implications of Thailand’s inclusivity initiatives extend beyond individual empowerment; they have the potential to enhance the country’s overall sustainability. By ensuring equal access to digital resources, Thailand is tapping into the capabilities of all its citizens, fostering an environment where diverse talents can contribute to economic growth. This proactive approach not only improves the quality of life for people with disabilities but also enriches society as a whole.

    The economic empowerment of individuals with disabilities is another key benefit of these initiatives. As digital services become more accessible, people with disabilities can explore new avenues for income generation and employment. This shift is critical in reducing economic disparities and enhancing overall economic development in Thailand.

    Thailand’s commitment to creating an inclusive digital environment serves as a model for other nations. By demonstrating that tangible actions can lead to inclusivity, Thailand sets a precedent for global efforts aimed at creating a more equitable society. The country’s experience offers valuable lessons on how to integrate technology and inclusivity, proving that when everyone has the opportunity to contribute, the entire society benefits.

  • Gmail revamps summary cards to streamline email organization

    Gmail revamps summary cards to streamline email organization

    Google is making significant changes to its Gmail summary cards, aiming to make it easier for users to manage the constant flow of information that arrives in their inboxes. These updates are designed to provide a more streamlined and efficient way to access crucial details from emails related to purchases, events, bills, and travel.

    For many years, Gmail has used summary cards to display essential information at the top of emails. These cards have provided a quick snapshot of the content, but with the evolving nature of how people use email, Google recognized the need for a more dynamic and interactive system.

    The redesigned summary cards will feature a fresh look and offer more actionable functionalities. Users can now add events to their Google Calendar directly from the card, invite others, or set reminders for bill payments. The cards will also become more intelligent, organizing key information from related emails and providing real-time updates. This means users can track packages, see the latest status of their orders, and know precisely when to expect deliveries.

    In addition to the updated summary cards within individual emails, Gmail is introducing a new “Happening soon” section at the top of the inbox. This section will initially display purchase summary cards, particularly when a delivery is imminent. For instance, if an estimated delivery date is two days away, the “Happening soon” section will prominently show the purchase summary card, allowing users to see when their package is expected to arrive quickly. If multiple deliveries are scheduled around the same timeframe, the cards will be stacked, and users can expand, dismiss, or click on them to go directly to the corresponding email.

    The updated summary cards will be rolled out in phases. Initially, users will see the new purchase summary cards in individual emails on both Android and iOS devices. In the following months, event, bill, and travel summary cards, along with the “Happening soon” section, will be gradually introduced. Eventually, all four card categories will be available across individual emails, the “Happening soon” section, and Gmail search, ensuring that users can easily find the information they need regardless of how they use Gmail.

    As someone who relies heavily on email for both personal and professional communication, I find these updates to be quite promising. The ability to quickly access crucial information without having to sift through multiple emails is a welcome improvement. I’m particularly interested in the “Happening soon” section, as it seems like a convenient way to stay on top of upcoming deliveries and events. I believe these changes will make Gmail an even more valuable tool for managing my daily tasks and staying organized.

  • BYD recalls 97,000 EVs over fire risk error

    BYD recalls 97,000 EVs over fire risk error

    China’s largest electric vehicle manufacturer BYD is recalling 97,000 units due to a technical error that poses fire risks.

    The Chinese automaker is recalling Dolphin and Yuan Plus EVs produced in China between November 2022 and December 2023 for containing a faulty steering control unit, according to a statement from the State Administration for Market Regulation as reported by Reuters.

    BYD dealers will address the issue at no cost to customers.

    According to the China Association of Automobile Manufacturers, the recalled models were its best-selling in 2023 and accounted for a quarter of the 3 million cars it sold.

    BYD, backed by American investor Warren Buffett, has been rapidly expanding overseas since last year, with distribution outlets set up in Southeast Asia, the Middle East and Africa.

  • Pepper exports hit $1B in 2024, prices surge to 8-year high

    Pepper exports hit $1B in 2024, prices surge to 8-year high

    Pepper exports topped 203,000 tons, fetching US$1 billion, in the first nine months of 2024, with prices rising to their highest levels in eight years.

    This meant value was up 46.9% year-on-year despite a 1.5% drop in volumes, according to customs data. The average export price was $6,239 per ton in September, a 67.5% jump from a year ago.

    Businesses said prices have increased due to a decline in supply caused by weather conditions and farmers’ crop switching.

    Experts said domestic pepper prices are likely to rise further this year, especially with Tet (Lunar New Year) coming around in a few months.

    The Ministry of Industry and Trade’s import and export department forecast global prices to remain high as the country’s pepper production is expected to decrease next year due to drought.

    The Vietnam Pepper Association does not expect global production to meet demand in the next three to five years.

    Pepper is an important agricultural product for Vietnam, which is also the world’s largest exporter of the spice with a 60% market share. Its exports last year were worth $912 million.

  • Vietnam’s high-speed rail fares set at 75% of flight tickets

    Vietnam’s high-speed rail fares set at 75% of flight tickets

    High-speed rail tickets are expected to cost 75% of airfares or VND1.7-6.9 million (US$69-280), according to a pre-feasibility study the government has submitted to the National Assembly.

    The project, one of the most ambitious transport projects in this decade, is set to begin construction in 2026-2027 to link Hanoi and Ho Chi Minh City with a 350-kilometer-per-hour rail.

    First class fares will be VND6.9 million, and two lower tiers will cost VND2.9 million and VND1.7 million, according to the report.

    These are equivalent to 75% of Vietnam Airlines and Vietjet’s fares, and similar to those in other countries, it said, citing fares in Shanghai, Jakarta and Tohoku in Japan.

    The 1,500-kilometer high-speed railroad between Hanoi and HCMC is estimated to cost VND1.7 quadrillion (US$69 billion).

    At $43.7 million per kilometer, the cost would be in the medium range compared to other high-speed rail projects globally, the report said.

    The project comprises four sub-projects that will be developed simultaneously. It is expected to help add 0.97% to GDP annually.

    The 350-kph-maximum rail will pass through 20 provinces and have 23 passenger stations and five cargo stations.

    But it will mostly serve passengers with the current railroad network switching mainly to cargo transport.

  • Telkomsel Teams Up with Circles to Drive Digital Transformation in Southeast Asia

    Telkomsel Teams Up with Circles to Drive Digital Transformation in Southeast Asia

    By using Circles’ Software-as-a-Service (SaaS) platform and products, Telkomsel aims to offer advanced digital services and adopt new technologies quickly. These tools will improve the customer experience by providing better digital interactions and creating opportunities for growth and innovation. With Circles’ technology, Telkomsel can stay ahead of market trends, meet customer needs, and explore new possibilities in the digital world.

    Deepak Gulati, Senior Advisor and Chief Revenue Officer of Circles, is excited about partnering with Telkomsel, a major digital telecommunications company in Southeast Asia. This collaboration demonstrates the value of Circles’ SaaS offerings and migration capabilities on a global scale. It also shows the increasing interest from telecommunications companies worldwide in using Circles for digital transformation and innovation.

    Circles is dedicated to providing great value to Telkomsel, building strong references in the industry, and forming global partnerships that drive digital transformation. Derrick Heng, Director of Marketing at Telkomsel, emphasized the company’s commitment to innovation and meeting customer needs through the latest technologies.

    The partnership with Circles reflects Telkomsel’s dedication to offering cutting-edge solutions in today’s digital world. It aligns with Telkomsel’s vision to empower Indonesians and help individuals, households, and businesses achieve more. With Telkomsel now part of its client base through local partner, Phintraco Consulting, Circles continues to expand its list of major telecommunications partners globally, including KDDI and e&.

  • Thailand’s rice export prices dip to 14-month low

    Thailand’s rice export prices dip to 14-month low

    Thai rice export prices fell to a 14-month low this week due to weak demand and competition from other rice exporting countries.

    Thai 5% broken rice was priced at US$560 per ton, the lowest level since July 20, 2023 and down from $565 last week.

    A Bangkok-based trader said on Thursday that prices could fall further if the Thai baht depreciates. Another trader said the market was waiting to see changes in Indian rice policy in the coming months and that supply was in the harvesting stages.

    Meanwhile, Vietnamese 5% broken rice was exported at $565 per ton on Thursday, according to the Vietnam Food Association, also down from around $580 last week.

    “Prices fell on competition from other suppliers such as Thailand, Cambodia and Myanmar,” a trader based in Ho Chi Minh City said.

  • Durian prices drop up to 30%

    Durian prices drop up to 30%

    Farmers are now selling top-grade Monthong durians for VND65,000-70,000 (US$2.64-$2.84) per kilogram, down 25-30% compared to the prices at the start of the season in July.

    Grade B durians are priced at VND55,000-63,000 per kilogram, with a similar decrease from July and approximately 10% lower than the same period last year.

    Minh Thanh, a farmer in the Central Highlands province of Dak Lak, hopes that durian prices will recover by the season’s end. However, prolonged heavy rains have compromised the fruit’s quality, leading to low selling prices at the garden.

    Similarly, Hong Anh, owner of 0.5-hectare crop in the Central Highlands province of Gia Lai, encounters challenges as buyers rescind their offers of VND80,000 per kilogram, even forfeiting deposits, compelling her to sell at only VND65,000 due to poor quality.

    Anh attributes the price drop to the fruit’s diminished quality from excessive rainfall, particularly in new orchards that lack proper cultivation techniques. The hardened fruits complicate exports, with most being consumed domestically.

    Manh Hoang, a trader in the Central Highlands, observes that durian quality suffers when grown alongside pepper and coffee. As the prices for pepper and coffee increase, many farmers prioritize them and apply unregulated fertilization, which degrades the durian quality. Some buyers only purchase durian for use in ice cream or for extracting the pulp, further complicating the export of whole fruits.

    “I buy a few tons each day, but only 50% of the fruits meet export standards,” says Hoang. “The rest are sold in HCMC, Hanoi, and Da Nang.”

    The General Department of Vietnam Customs reports that in the first seven months of 2024, Vietnam exported 476,130 tons of durian, valued at US$1.6 billion, representing a 50.5% increase in volume and 49.4% increase in value compared to the same period last year.

    However, July saw a 30.8% decrease in both value and volume compared to June, totaling only US$280 million. Exports further declined to US$200 million in August.

    Despite weather-related slowdowns, businesses note that durian export demand from China is recovering due to festive occasions. Improved weather from October is anticipated to enhance the quality of durian. Additionally, the volume of off-season produce has increased potentially, increasing export turnover.

    Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, explains that the reduction in export volume during July and August is temporary. From September, durian export turnover is expected to surge, potentially reaching nearly US$3 billion this year.

    On Aug. 19, during a visit to China by Party General Secretary and State President To Lam, the two countries signed a protocol on exporting frozen durian, offering substantial opportunities for Vietnamese agriculture. Exports of frozen durian are anticipated to generate US$400-500 million this year.

    In 2023, Vietnam exported approximately 500,000 tons of fresh durian, valued at US$2.3 billion, with 90% destined for China. The area planted with durian encompassed 154,000 hectares, yielding nearly 1.2 million tons, an annual increase of 15%.

    Vietnam has around 151,000 hectares under durian, with the Central Highlands accounting for half of it. Other large growing areas include the southeast and the Mekong Delta regions with 25,000 ha and 42,000 ha.

  • Gasoline prices climb up 2 weeks in a row

    Gasoline prices climb up 2 weeks in a row

    Gasoline prices on Thursday afternoon went up for the second week after plunging non-stop since mid-August.

    The popular fuel RON95 rose 3.80% to VND20,510 (US$0.83) per liter.

    Diesel went up 2.7% to VND 17,500.

    Regulators said that fuel prices in the last seven days were affected by rising tension in the Middle East, China’s economic boost, and ongoing Russia-Ukraine military conflict.

    Gasolines rose 5% while oils added 2.3-4.6%. RON95 is now priced at $85.6 per barrel and diesel $84.4.

  • New Starbucks CEO shakes up China arm’s top management

    New Starbucks CEO shakes up China arm’s top management

    Brian Niccol, who became Starbucks’ CEO earlier this month, has named Molly Liu the sole chief of the coffee chain’s China operations after her one-year tenure as co-CEO.

    Bloomberg reported, citing a post on Starbucks’ WeChat channel, that the management shift aims to hand leadership to “a new generation of successors. ”

    Liu was named China co-CEO last year and had been working alongside Belinda Wong, the company said.

    Wong, who had been overseeing Starbucks’ business in China since 2011, will remain the chairwoman of that market, taking charge of innovation and China’s development strategy and boosting the brand’s social influence.

    The move came as the U.S. coffee chain is struggling with declining sales and growing local competition in China, its second-biggest market globally with over 7,300 locations, according to the trade magazine Restaurant Business.

    Revenues from Starbucks’ China stores dropped 11% year-on-year to US$734 million in the second quarter this year while comparable store sales declined by 14%, according to the South China Morning Post.

    Chinese coffee chains, meanwhile, have been offering customers drinks at much lower prices to compete with the U.S. giant, which has been in China since 1999.

    As CEO, Liu will have to stabilize the business while working toward the goal of opening about 1,700 more stores in that market.

    Her appointment is the second shift in executive management at Starbucks since the new CEO took the helm just over two weeks ago.

    The firm’s CEO for North America, Michael Conway, announced his retirement last week.

    Instead of filling his position, the company plans to hire a global chief brand officer to lead areas such as product and marketing.

  • Thailand approves budget for EV subsidy, offering buyers up to $3,000 per vehicle

    Thailand approves budget for EV subsidy, offering buyers up to $3,000 per vehicle

    The Thai cabinet has approved a budget allocation to fund a subsidy program’s second phase, which offers electric vehicle buyers up to 100,000 baht (US$3,070) per vehicle.

    Under the second phase of the subsidy program called EV 3.5, running from 2024 to 2027, EVs priced less than 2 million baht with batteries of 50 kWh or larger will receive a subsidy of 50,000-100,000 baht per vehicle, and those with smaller batteries will receive 20,000-50,000 baht per vehicle.

    Jirayu Huangsab, an advisor to the Prime Minister, said the budget allocation, amounting to 7.12 billion baht, will be used to subsidize buyers of electric vehicles and motorcycles who have already purchased their vehicles but not yet applied for the government EV subsidy under the EV promotion measures.

    Since the implementation of the EV promotion measures, subsidies have been disbursed for 55,000 EVs, totaling 6.87 billion baht. A budget of more than 5 billion baht is awaiting disbursement.

    In the previous first phase of the program, called EV 3.0, the Excise Department provided subsidies of up to 150,000 baht for EVs priced less than 2 million baht, and up to 18,000 baht for electric motorcycles priced less than 150,000 baht.

    The government provides these subsidies directly to car manufacturers. Once EV buyers register their vehicles, they can submit a request to the manufacturer to claim the subsidy.

    Based on these incentives, various manufacturers have invested to establish