Retail News CRM

Author: Mei Ling Tan

  • Intel denies new investment in Vietnam

    Intel denies new investment in Vietnam

    U.S. chip giant Intel has said that it had never announced any additional investment in Vietnam apart from the $1.5 billion investment it has already made so far.

    “After raising our investment to $1.5 billion in 2021, we have never made any official announcement of a new investment,” a representative said Wednesday.

    The U.S. chipmaker had shelved a plan to invest $1 billion more in Vietnam, citing anonymous sources. The news outlet first reported about the plan in February.

    Intel began its operation in Vietnam in 2006 with a chip manufacturing and testing factory in Ho Chi Minh City.

    The factory, Intel Products Vietnam, is one of 10 manufacturing hubs of the company globally.

    The facility, which employs 2,800 people, has shipped over 3 billion product units over 15 years of operation.
    Intel leaders committed to long-term investment in Vietnam in a meeting with Deputy Prime Minister Tran Luu Quang in October.

    Intel CEO Patrick Gelsinger told Prime Minister Pham Minh Chinh in May that the company would invest several more times in Vietnam in the future.

    The company is expanding its investment in chip packaging in Malaysia, one of Vietnam’s main competitors in attracting foreign direct investment.

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  • Waze launches new safety feature for drivers

    Waze launches new safety feature for drivers

    Waze announced this week that a new safety feature is now making its way to the navigation app’s users on both iOS and Android devices. The especially important new feature will allow drivers to see a road’s crash history before they start their journey.

    Unsurprisingly, the safety feature is powered by AI (artificial intelligence), but the Waze community does have a contribution in this too. According to Waze, the crash history alerts provided by its app combine historical crash data and important information about route.

    Depending on typical traffic levels, whether it’s a highway or local road, elevation, and more, a road can be more or less prone to crashes. Thankfully, Waze’s new feature takes into consideration all these aspects and provides you with an alert in case it decides that the road you are going to drive on is dangerous.

    The new safety feature has been implemented in a way that allows drivers to keep their eye on the road all the time, even when they receive an alert from the app. In fact, Waze announced that it has limited the number of alerts drivers see, and they aren’t shown at all on roads they regularly navigate.

    Crash history alerts should now be available for all Waze users on mobile, regardless of their location.

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  • SingPost’s Australian unit eyes purchase of Border Express

    SingPost’s Australian unit eyes purchase of Border Express

    Freight Management Holdings or FMH, a subsidiary of Singapore Post, has entered into a conditional sale and purchase agreement with the shareholders of Border Express, for a maximum purchase consideration of A$210 million, or approximately S$183 million.

    Border Express is considered the 6th largest national transport and distribution services company in Australia with comprehensive freight connectivity, warehouses and regional centres.

    It provides end-to-end interstate logistics services with a network of 16 facilities, a fleet of over 700 vehicles, a team of 1,300 employees, and over 3,000 clients across industries, including large retail and consumer brands.

    Upon completion, Border Express will join the transportation companies held under the FMH Group umbrella, which include GKR Transport, Niche Logistics, BagTrans, Formby Logistics and Spectrum Transport.

    Over the past three years, SingPost has expanded its operations in Australia with the FMH Group and CouriersPlease, and more recently, it reached agreement with the remaining minority shareholders of FMH to take its ownership to 100 percent.

    The Australian integrated logistics market is estimated at over A$120 billion. With the acquisition of Border Express, revenues of the wider FMH Group are expected to exceed S$1 billion.

    “Upon completion, the acquisition will support FMH Group to realise the vision of a new logistics ecosystem where people and physical assets are connected through a ubiquitous technology platform, enabling true supply chain efficiency,” said Simon Slagter, Group Chief Executive Officer at FMH Group,

    The transaction is subject to relevant statutory approvals and other closing conditions.

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  • Singapore Airlines to host AAPA’s 67th Assembly of Presidents

    Singapore Airlines to host AAPA’s 67th Assembly of Presidents

    Singapore Airlines (SIA) will host the 67th edition of the Association of Asia Pacific Airlines (AAPA) Assembly of Presidents on 9 and 10 November 2023.

    The AAPA, which has 14 member airlines, is the trade association for scheduled international carriers based in the Asia Pacific region1.

    More than 200 delegates, attendees, and members of the media from around the world are expected at the Assembly, which will be held at Singapore’s Mandarin Oriental Hotel.

    Delegates from member airlines, including Chief Executive Officers and senior management, will be joined by representatives from key stakeholders such as the International Air Transport Association (IATA), International Civil Aviation Organization (ICAO), Airports Council International (ACI), Singapore’s Ministry of Transport and the Civil Aviation Authority of Singapore, as well as the wider aerospace and aviation community.

    Mr Chee Hong Tat, Singapore’s Acting Minister for Transport, will be the guest of honour at the opening session on Friday, 10 November 2023.

    This year’s theme, Sustainable Air Transport Growth in the Asia Pacific, underscores the importance of international air transport and the industry’s commitment to sustainability. The Assembly provides a platform to discuss the opportunities and challenges in the airline industry, and focus on developing a strategy for sustainable growth in the region.

    The Asia Pacific airline industry has rebounded from the impact of the pandemic, with the region’s passenger capacity reaching 77% of pre-pandemic levels in August 2023. This has helped to meet the robust demand for air travel, with international passenger traffic in the Asia Pacific doubling from a year before in August 2023 and expected to reach 80% of pre-pandemic levels by the end of the year.

    Mr Goh Choon Phong, CEO of Singapore Airlines, commented: “Deeper collaboration between airlines, as well as with our partners and stakeholders in the ecosystem, is critical for sustainable growth. This will help to ensure that future generations continue to enjoy the many benefits that aviation brings. We look forward to meaningful discussions that will help to lay the groundwork for an even brighter future for the Asia Pacific’s airline industry.”

    Mr Subhas Menon, Director General of the AAPA, added: “2023 is a watershed year for Asia Pacific aviation. Air travel is again charging ahead even as the broader global economy comes off the boil. As it looks to return to growth, the industry must navigate challenging geopolitical, economic and climate realities. Against this backdrop, and with the line-up of influential speakers, no doubt that this year’sAssembly of Presidents will deliver many provoking yet inspiring conversations.”

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  • EV maker VinFast to invest $1.2B in Indonesia

    EV maker VinFast to invest $1.2B in Indonesia

    Vietnam’s first electric vehicle (EV) maker VinFast plans to build a plant with an investment capital of 18.6 trillion Rp (US$1.2 billion) in Indonesia, according to Presidential Chief of Staff of Indonesia Moeldoko.

    Moeldoko told a press on Nov. 6 that the construction will begin as soon as possible. He, however, did not reveal further details of the plan.

    Vinfast is one of the largest EV manufacturers in Southeast Asia, with its cars exported to Europe and America, the official said, adding its investment in Indonesia can help form an EV ecosystem in the country.

    Indonesia’s media reported that in early September, Vinfast leaders had a meeting with Indonesian Trade Minister Zulkifli Hasan who pledged to facilitate the automaker’s operation.

    Secretary General of the Association of Indonesia Automotive Industry (Gaikindo) Kukuh Kumara said in late October that Vinfast has discussed and expressed its willingness to join the association.

    The manufacturer is completing necessary procedures with the Indonesian government before officially entering the country’s auto market, he said.

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  • Shrinking Chinese exports halve dragon fruit prices

    Shrinking Chinese exports halve dragon fruit prices

    Vietnamese red-fleshed dragon fruit is selling for VND10,000-13,000 (US$0.41-0.53) per kilogram, down 50% against same period last year, due to reduced imports from China.

    Hoang, who sells fruits from a cart on Go Vap District’s Thong Nhat Road in Ho Chi Minh City, said this is the first time red-fleshed dragon fruit has been sold at stalls on roads and streets in the city.

    Thuan, another mobile fruit seller on Pham Van Dong Road in Thu Duc City, said: “Many dragon fruit growers in the Mekong Delta province of Tien Giang sell the fruit at such a low price that they barely want to harvest them anymore.”

    In the province’s Cho Gao District, traders are buying red-fleshed dragon fruit from orchards at prices of VND4,000-8,000 per kilogram.

    Huu, who grows 4,000 square meters of red-fleshed dragon fruit in the district, said he does not make a profit at current prices.

    If earnings from the fruit continue to decrease, his family may switch to other crops.

    According to the Long An Dragon Fruit Association, the province has 9,000 hectares of dragon fruit, down from the peak of 12,000 hectares some years ago.

    Fruit exporters said the prices have fallen because China has reduced imports, meanwhile, Vietnamese demand for the fruit is weak since many other tropical fruits with attractive prices are currently in season.

    Last year, Chinese authorities said the nation had grown the fruit on 67,000 hectares, producing 1.6 million tons. The figures exceeded Vietnam’s current output.

    Chinese newspaper The People’s Daily reported that farmers in Cixi, part of the eastern province of Zhejiang, worked all night to artificially pollinate dragon fruit, ensuring a bumper crop.

    Red-fleshed dragon fruit is selling for seven renminbi (nearly $1) per kilogram, while white-fleshed dragon fruit imported from Vietnam goes for around nine renminbi in Nanning, the capital of Guangxi Province.

    Vietnam’s dragon fruit exports in the first eight months declined 4.4% year-on-year to $442 million. Specifically, red-fleshed dragon fruit exports to China dropped by 36.5%.

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  • Chloe opens new boutique at Changi Airport

    Chloe opens new boutique at Changi Airport

    Chloe has partnered with Heinemann Asia Pacific to launch a new boutique in Changi Airport’s Terminal 2 transit area.

    The launch, which marks Chloe’s first entry into Changi Airport and Heinemann’s return to Changi after an eight-year absence, includes a wide selection of products ranging from leather goods to shoes and accessories, as well as the Fall – Winter 23 collection.

    According to the brand, the space is devoted to both Maison’s founder, Gaby Aghion, whose home of Egypt is mirrored in the warm desert palette, and to former creative director Gabriela Hearst – through earthy textured tones that remember her early years in Uruguay, South America.

    “We are delighted to be back at Changi Airport, as the retail partner of a brand as desired and as committed to their values as Chloé,” said Heinemann Asia Pacific CEO Marvin von Plato.

    Chloe collaborated with pre-loved clothes marketplace Vestiaire Collective and digital ID provider EON earlier this year to develop the Chloe Vertical, an innovative circular economy project with sustainability at its core.

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  • WhatsApp for Android brings back Muted Updates and Channel Polls

    WhatsApp for Android brings back Muted Updates and Channel Polls

    WhatsApp, one of the world’s most popular instant messaging apps, is constantly rolling out new features and updates in an effort to improve the user experience. In the past week alone, the app’s developers have released two new beta updates on Android that introduce a couple of interesting features, including the return of Muted updates and the ability to create and share polls within Channels.

    As reported by WaBetaInfo, WhatsApp brought back Muted updates in version v2.23.24.11 of the Android beta app, which had disappeared from the main Updates tab following the arrival of Channels. Previously, users could still access Muted updates by tapping the three-dot menu in the Updates tab, but this was not as convenient as having them directly displayed in the main tab.

    Shortly after, v2.23.24.12 was released, which introduces the ability to create and share polls within Channels. This feature is similar to the polls feature that is already available in one-on-one and group chats, but with a few key differences.

    In order to prevent spamming and ensure that poll results are accurate, the feature within Channels are limited to one choice per user. Additionally, in order to protect privacy, Channel polls are also anonymous — meaning that no one can see who voted for what.

    The ability to create and share polls within Channels is a useful new feature that can be used for a variety of purposes, such as gathering feedback from community members or running contests and giveaways. Similarly, the return of Muted updates is a welcome change for users who prefer to keep their status updates muted. With this feature, users can easily view all of their muted status updates in one place without having to navigate through multiple menus.

    Unfortunately, as both of these features are currently only showing up for a limited amount of users using the beta app, and the WhatsApp beta program is currently — and almost always — full to capacity, it might be a bit until we see then both show up on the stable public app.

  • Morgan Stanley Swiss Funds Business Gets New Head

    Morgan Stanley Swiss Funds Business Gets New Head

    US-based bank Morgan Stanley gives a former McKinseyan responsibility for funds distribution in German-speaking countries in Europe.

    Sebastian Roemer is the new distribution head for Morgan Stanley Investment Management in the German, Austrian, and Swiss markets. Based in Frankfurt, he will manage the regional activities of the bank’s fund subsidiary, the bank indicated in a release on Monday.

    The new appointee has more than 15 years of experience as an asset manager, with his last position being that of the head of Central and Eastern Europe for French-based institution Natixis Investment Managers (offices in Frankfurt, Munich, and Zurich). Before that, he was an investment specialist for Pimco and private markets investment company Apax Partners. Roemer started his career in 2005 with the McKinsey consultancy in Zurich. He holds an MBA from Harvard Business School and a Master of Science in Economics (MSc) from the London School of Economics.

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  • Apple might be working on a custom battery

    Apple might be working on a custom battery

    Battery life on the iPhone has been gradually improving since the iPhone 13 series, despite the latest iPhone 15 series not bringing significant upgrades in the battery department, as you can see in our dedicated piece about iPhone 15 and iPhone 15 Pro Max battery life and charging speeds. However, Apple might have something in mind, as new rumors suggest.

    Apple is rumored to be working on a custom in-house battery design. The company is exploring alternative cathode materials to enhance the overall performance of the battery module, to extend the battery life of its future products released after 2025.

    The report suggests that Apple is actively considering increasing the silicon content inside the battery, moving away from the conventional use of graphite as the anode material in lithium-ion batteries. Graphite’s unique properties make it an ideal choice, efficiently storing and releasing electrical energy, ensuring reliable and long-lasting battery performance in mobile devices.

    While a silicon-based approach could potentially improve overall battery capacity and reduce charging times, there is a challenge—silicon tends to expand during the charging process. However, Apple seems to have found a solution to mitigate this issue.

    Rumors about Apple developing its own next-gen batteries date back to 2019. In fact, even before that, the company has been collaborating with suppliers to introduce innovative battery solutions, such as the space-saving, L-shaped battery in the iPhone XS.

    By bringing battery development in-house, Apple gains more control over the design and construction of its products. The company claims that it regularly audits its suppliers to ensure they are meeting its high standards.

    And what are its high standards, you may wonder? Apple has ambitious environmental goals, aiming to make every Apple product with 100% clean energy by 2030. This commitment requires all suppliers to transition to electricity generated from solar, wind, and other renewable sources. Additionally, Apple envisions creating products using only recycled and renewable materials. In a recent pledge, the company aims to use 100% recycled cobalt in all ‘Apple-designed’ batteries by 2025.

    Whether the rumored custom Apple battery will actually happen and whether the company will stick to its goals is still up in the air.

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  • Singapore retail sales growth softens in September

    Singapore retail sales growth softens in September

    Singapore retail sales – excluding motor vehicles – were up only 0.5 percent year-on-year in September, a slowdown compared to the 4 per cent increase in August.

    According to the Department of Statistics Singapore, the total retail sales value was about US$2.5 billion, down 0.8 percent month over month on a seasonally adjusted basis. Online retail sales accounted for 15.2 percent of total sales value.

    By industry, sales of food & alcohol jumped 22.6 percent, followed by toiletries & medical goods (10.3 percent) and apparel & footwear (8.1 per cent).

    Retailers of computer & telecommunications equipment and furniture & household equipment recorded declines in sales of 12.7 percent and 4.8 percent, respectively.

    Sales of food & beverage services rose 6.9 percent yearly to US$726 million, following the 8.6 percent growth in August. Approximately 23 percent of this came from online sales.

    All industries within this sector posted sales growths, led by food caterers with a 24.1 percent increase.

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  • Starbucks launches plan to cut $3 billion in costs over three years

    Starbucks launches plan to cut $3 billion in costs over three years

    Starbucks Coffee Company has announced Triple Shot Reinvention with Two Pumps – a long-term growth plan for brand elevation, global expansion, and cost efficiency.

    The company described the strategy as the “next step in the re-founding of the company” to deliver significant value to partners, customers and shareholders.

    The plan includes three priorities – elevating the brand, strengthening and scaling digital, and becoming truly global – along with “two pumps” – unlocking efficiency and reinvigorating the partner culture.

    The firm expects to generate $3 billion in savings over three years, with $2 billion outside the store from the cost of goods sold. This will enable the company to reinvest in the business and deliver returns to shareholders through earnings growth.

    Regarding brand elevation, Starbucks will focus on running better stores, growing the portfolio with more purpose-defined stores and renovations, and driving product innovation.

    The company intends to double its 75 million global Starbucks Rewards Members within five years and expand digital and technology collaborations to elevate the partner and customer experience.

    To become a more global brand, it has a goal to reach 55,000 locations across the world by 2030. The company currently has over 38,000 stores, with about 9000 new openings in the past five years.

    Starbucks will also reinvigorate the partner culture through continued investments in the partner value proposition across the partner experience.

    For FY23, Starbucks recorded an 8 percent increase in global comparable store sales, with North America and the US up 9 percent and international up 5 percent.

    The company’s consolidated net revenues rose 12 percent to a record $36 billion, excluding a 2 percent unfavorable impact from foreign currency translation.

    CEO Laxman Narasimhan said the company achieved strong results for the fourth quarter and full fiscal year, which are on the higher end of its full-year guidance.

    “As we enter the current year, in the face of macro uncertainty, we remain confident in the momentum throughout our business and headroom globally,” Narasimhan added.

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  • FedEx speeds up Vietnam-Singapore service with B767F

    FedEx speeds up Vietnam-Singapore service with B767F

    FedEx Express is further enhancing its services between Vietnam and Singapore as well as the wider Asia, Middle East, Africa (AMEA) and Europe market, with the introduction of a new flight offering expedited delivery times.

    The new service will use a dedicated B767 freighter starting October 31 to fly four times a week in the evenings from Ho Chi Minh City to Asia and Europe through the FedEx hub in Guangzhou, China.

    Exporters shipping from Southern Vietnam will benefit from faster transit times for shipments to Singapore and major Asian markets in just one business day, and two business days to Europe.

    These new flights offer additional capacity on top of the current five flights to Asia, Europe, and the US. These include four daily morning services through the FedEx hub in Singapore and the existing evening flight through the Guangzhou hub.

    FedEx has been supporting cross-border trade to and from Vietnam since it established operations in the country in 1994.

  • More global digital platforms pay taxes in Vietnam

    More global digital platforms pay taxes in Vietnam

    Seven four cross-border digital platforms, including Meta, Google, Netflix, and TikTok, have paid taxes of VND8.02 trillion (US$334.1 million) this year, more than double the amount last year.

    The General Department of Taxation said as of June some 57 had paid taxes, and urged others who had yet to declare and pay taxes to do so.

    Since March 2022, when the department’s electronic information portal for foreign service providers to pay taxes online easily was set up, a total of VND11.5 trillion has been paid.

    Also, 375 e-commerce platforms have provided tax authorities with information about organizations and individuals that did business through them.

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  • Gold prices continue to fall

    Gold prices continue to fall

    SJC gold price dropped 1.2% to VND69.5 million ($2,847.19) per tael on Monday morning.

    Gold ring price gained 0.08% to VND59.9 million per tael. A tael equals 37.5 grams or 1.2 ounces.

    Globally, gold prices held steady near the key $2,000-per-ounce level on Monday after weak U.S. jobs data raised hopes that the Federal Reserve is done raising interest rates, sending the dollar and bond yields lower.

    Spot gold was little changed at $1,990.43 per ounce by 0100 GMT and U.S. gold futures were steady at $1,997.60.

    SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.20% to 863.24 tonnes on Friday from 861.51 tonnes on Thursday.

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