Retail News CRM

Author: Mei Ling Tan

  • Gold Prices in Vietnam Nudge Down After Early Rise: Exploring the Impact of Global Politics on Bullion Rates

    Gold Prices in Vietnam Nudge Down After Early Rise: Exploring the Impact of Global Politics on Bullion Rates

    After witnessing a 1.74% surge earlier in the session, the gold prices in Vietnam experienced a slight downturn on Wednesday afternoon. The price of the gold bar from the Saigon Jewelry Company decreased by 0.28% from its morning value, settling at VND175 million (US$6,646.04) per tael. Despite this dip, the daily gains were retained at 1.45%. Consequently, the difference between global and national gold rates diminished to VND22 million per tael.

    Gold Rings and Gold Bars

    Alongside the gold bars, gold ring prices also noted a slight reduction of 0.29%, closing at VND174.5 million per tael. However, this price still reflected a 1.45% increase from the previous day’s valuation. In Vietnam, a tael is a unit of weight measuring approximately 37.5 grams or 1.2 ounces.

    Global Gold Rates

    On an international scale, gold prices experienced an upturn on Monday due to the recent agreement between the U.S. President and Iran on a two-week truce. This ceasefire is geared towards concluding negotiations to end the prevalent war, which has caused significant disruption in global markets.

    As a result of this development, oil prices dipped below $100 a barrel, and the value of the dollar also declined. Such changes favor gold, which is priced in U.S. currency. Spot gold experienced a 2.5% increase, reaching $4,819.52 per ounce. During the session, the value of gold rose by over 3%, marking its highest level since March 19. Similarly, the U.S. gold futures for June delivery witnessed a 3.4% rise, reaching $4,845.30.

    The Appeal of Gold

    The announcement of the two-week truce disrupted expectations of escalation, which was a positive development for gold, according to Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery. However, gold has seen an approximately 8% decrease since the conflict began in late February. This is because the allure of the non-yielding metal typically decreases in a high-interest-rate environment.

    Nonetheless, prices have shown signs of recovery in recent days. This rebound is backed by optimism surrounding the ceasefire and the anticipation that slower global economic growth could offset predictions of stable or higher borrowing costs.

    Questions & Answers

    What caused the dip in Vietnam’s gold prices?
    The gold prices in Vietnam dipped slightly due to a reduction in global gold prices.

    What effect did the announcement of the U.S.-Iran truce have on gold prices?
    The truce sparked optimism, causing gold prices to increase on a global scale as investors sought safe-haven assets.

    How does the interest rate environment affect the appeal of gold?
    In a high-interest-rate environment, the appeal of the non-yielding metal, such as gold, typically decreases as investors turn to assets with higher yields.

  • Australian Spirits Industry Outraged as Tax Relief Measures Favor Beer Over Liquor

    Australian Spirits Industry Outraged as Tax Relief Measures Favor Beer Over Liquor

    In Australia, the spirits industry is set to miss out on tax relief measures currently extended to the beer industry, following a failed debate on alcohol taxation in the Senate.

    The Failed Amendment

    An amendment proposed to extend the excise freeze, currently applied to draught beer, to tap spirits was voted down by the Labor and Greens parties. In addition to this, the amendment suggested a review of the alcohol tax system. The proposed changes, which received support from the opposition and several independent senators, would have served as a cost-of-living measure for patrons of pubs and clubs if approved.

    Steven Fanner, executive director of Spirits & Cocktails Australia, expressed disappointment at the outcome, stating that the amendment had the backing of consumers and also encouraged a review of alcohol taxation in the country.

    He was quoted as saying, “To see the amendment voted down without its supporters even being provided the opportunity to debate it in the Senate is disappointing.” He found it perplexing that the Greens opposed a review of the alcohol tax, considering that tax reform has been part of their policy platform for years.

    Call for Tax System Review

    Industry representatives continue to advocate for a reevaluation of the tax system, highlighting the stark contrast in taxation between different types of alcohol. For instance, a consumer purchasing a gin and tonic is taxed almost three times more than a beer drinker, and up to eight times more than a wine drinker. Fanner believes this system reflects outdated consumption patterns and fails to align with the current market conditions.

    Spirits are increasingly becoming a significant part of the product mix offered in bars, clubs, and smaller venues. The excise on spirits is adjusted bi-annually, and after the most recent adjustment in February, the tax collected on a standard 700ml bottle of gin or whisky stands at about $32.

    During the promotion of the draught beer excise freeze, Government MPs stated that the policy was intended to alleviate cost-of-living pressures and support hospitality businesses. According to Fanner, however, the current measure is only applicable to beer, not all alcohol categories.

    Questions & Answers

    What was the proposed amendment to alcohol taxation in Australia?
    The amendment proposed to extend the excise freeze currently on draught beer to tap spirits. It also called for a review of the alcohol tax system.

    What was the outcome of the debate on the amendment?
    The amendment was voted down in the Senate, with the Labor and Greens parties opposing it.

    What is the current state of alcohol taxation in Australia?
    Currently, the excise freeze is applied only to beer. A gin and tonic consumer pays nearly three times the tax a beer drinker pays, and up to eight times more than a wine drinker. The excise on spirits, which is adjusted twice a year, currently stands at $32 on a standard 700ml bottle of gin or whisky. Industry representatives are calling for a review of this system.

  • A2 Milk Settles Shareholder Dispute for $62M, Affirms No Impact on FY26 Earnings

    A2 Milk Settles Shareholder Dispute for $62M, Affirms No Impact on FY26 Earnings

    The A2 Milk Company has come to a preliminary agreement to conclude the prolonged shareholder class actions regarding its purportedly deceptive financial predictions.

    Settlement Details

    The globally traded dairy firm announced that the settlement amount is $62 million, encompassing interest and costs. This total amount will be covered by the available insurance proceeds and it will not affect the company’s fiscal 2026 earnings. In reaching this settlement, the company underlined that it does not acknowledge any wrongdoing. The resolution will undergo finalization and execution of a settlement deed, followed by the approval of the Supreme Court of Victoria.

    Class Action Proceedings

    Two separate class action proceedings were initiated against A2 Milk in October and November of 2021. These actions were brought forward on behalf of shareholders who held an interest in fully paid ordinary shares from August 19, 2020, to May 9, 2021. These actions pertained to the company’s disclosures and guidance for fiscal year 2021.

    In 2022, these separate class actions were merged into a single action.

    Allegations

    The claimants alleged that A2 Milk made misleading representations and failed to comply with its ongoing disclosure responsibilities as a public company, contravening Australian and New Zealand regulations.

    The preliminary agreement was hailed as a significant step in the proceedings. If approved, over 70% of the settlement sum will be distributed among group members. It was noted that the settlement represents a fair resolution and mitigates the delay and uncertainty of a protracted court trial.

    Questions & Answers

    What is the settlement amount that the A2 Milk Company has agreed to?
    The A2 Milk Company has agreed to a settlement amount of $62 million, which includes interest and costs.

    Who initiated the class action proceedings against the A2 Milk Company?
    The class action proceedings were initiated on behalf of shareholders who held an interest in fully paid ordinary shares of the company from August 19, 2020, to May 9, 2021.

    What were the allegations against the A2 Milk Company?
    The company was alleged to have made misleading representations and failed to comply with its ongoing disclosure obligations as a public company, in violation of Australian and New Zealand laws.

  • Netflix Unleashes Free ‘Playground’ App: Fun and Learning with Favorite Characters at No Extra Cost!

    Netflix Unleashes Free ‘Playground’ App: Fun and Learning with Favorite Characters at No Extra Cost!

    While Christmas is several months away, Netflix has given its customers an early Easter gift in the form of a new, free app. The new Netflix Playground app, designed with kids in mind, is sure to be appreciated by many parents.

    The All-Inclusive App

    The Netflix Playground app is designed to be an all-inclusive platform. The concept is straightforward, offering games that feature favorite characters from various popular shows like Sesame Street, Dr. Seuss, Peppa Pig, StoryBots, and Bad Dinosaurs. Moreover, all the games are age-appropriate, ensuring a safe and relevant environment for the kids.

    The best thing is, Netflix Playground is free of charge. In a world where most things come with a high price tag, this is a welcome development. The app is included in every Netflix subscription, making it accessible for all subscribers.

    The primary goal of the app is to spark creativity, laughter, and fun amongst kids. Parents can feel safe handing over their mobile devices to their children when using this app as it has no ads, in-app purchases, or additional costs.

    The Available Games

    Netflix Playground is set to expand its game offerings in the future. However, presently, the app features a chosen team of well-loved characters.

    The initial lineup includes games inspired by Dr. Seuss titles, Sesame Street, Peppa Pig, StoryBots, and Bad Dinosaurs. These games offer a range of activities, including puzzles, music-based play, memory challenges, and light creative interaction. For instance, Dr. Seuss games engage kids in rhythmic and exploratory play, while Sesame Street emphasizes pattern and object recognition. Peppa Pig and StoryBots introduce more variety with activities like counting, decorating, and skill-building mini-games. Bad Dinosaurs combines puzzles with sticker-based creativity.

    With an intentionally simple and accessible design, the app focuses more on engagement than complexity. Netflix also hinted that this is just the beginning, with more titles and franchises expected to be added over time.

    Questions & Answers

    What is the Netflix Playground app?
    Netflix Playground is a free app for kids that features games with popular characters from shows like Sesame Street, Dr. Seuss, Peppa Pig, StoryBots, and Bad Dinosaurs.

    What type of games does the Netflix Playground app offer?
    The app offers a variety of games, including puzzles, music-based play, memory challenges, and light creative interaction. The games are inspired by popular characters and emphasize skills such as pattern and object recognition, counting, and creativity.

    Is the Netflix Playground app free?
    Yes, the Netflix Playground app is free and is included in all Netflix subscriptions. It contains no ads, in-app purchases, or additional costs.

  • Samsung’s Galaxy Watch Ultra 2 Set to Launch in Two Models: Unraveling the 4G and 5G Differences

    Samsung’s Galaxy Watch Ultra 2 Set to Launch in Two Models: Unraveling the 4G and 5G Differences

    Samsung is reportedly preparing to unveil the next version of the Galaxy Watch Ultra — the true successor to its previous model, which only received a memory upgrade. In response to its key competitor, the Apple Watch Ultra 3, the Galaxy Watch Ultra 2 had been rumored to feature a significant upgrade. However, it now appears that this anticipated change may not be guaranteed.

    Galaxy Watch Ultra 2: Potential 4G and 5G Variants

    A device thought to be the Galaxy Watch Ultra 2 recently appeared in the IMEI database bearing a model number that implies a 5G version. This development suggests Samsung is planning a second variant, potentially a 4G-only version of this forthcoming premium wearable.

    Software for a device with the model number SM-L715F was identified on Samsung’s servers. This is likely software for a version of the Galaxy Watch Ultra 2, which was listed under SM-L716 in the IMEI database.

    Samsung typically uses the number “6” to denote 5G models in its range, while “5” is usually assigned to devices with 4G/LTE connectivity. The number “0” is reserved to indicate a Wi-Fi-only device.

    Potential Dual Release

    It would not be surprising if Samsung decided to release two versions of the Galaxy Watch Ultra 2. It is probable that the 5G model will only be available in certain regions, with the 4G version being sold elsewhere.

    The more advanced model is likely to be made available to consumers in South Korea, the US, and a few other markets. It is unlikely that Samsung will release a Wi-Fi-only version of the Galaxy Watch Ultra 2.

    Pragmatic Choices

    Apple released the Apple Watch Series 11, Apple Watch SE 3, and the Apple Watch Ultra 3, all with 5G support, last autumn. Although all models sold globally have the technical capacity to connect to a 5G network, this feature is not supported in all markets where the watches are sold.

    Support for 5G connectivity depends on a variety of factors beyond a device’s technical capabilities, which may explain why Samsung has chosen to offer multiple versions of its upcoming watches.

    Expected Pricing

    The only reasonable explanation for a lower-spec version of a high-tier device would be to offer it at a reduced price. If Samsung were to charge the same for both versions of the Galaxy Watch Ultra 2, it would likely disappoint consumers.

    Questions & Answers

    What might be the key feature of the Galaxy Watch Ultra 2?

    An anticipated key feature of the Galaxy Watch Ultra 2 is its potential 5G connectivity. However, it’s also speculated that there may be a 4G-only version.

    Which markets might receive the more advanced model of the Galaxy Watch Ultra 2?

    The more advanced model, presumably the 5G version, would likely be offered to consumers in South Korea, the US, and several other markets.

    What could be Samsung’s rationale for potentially offering different versions of its upcoming watches?

    Support for 5G connectivity depends on a variety of factors beyond a device’s technical capabilities. This, in addition to market demand and network availability, could explain Samsung’s decision to offer multiple versions of its upcoming watches.

  • Omani Luxury Perfumer, Amouage, Unveils First Indian Boutique at Mall of Asia, Bangalore

    Omani Luxury Perfumer, Amouage, Unveils First Indian Boutique at Mall of Asia, Bangalore

    Amouage, a renowned perfume retailer originating from Oman, has made its first foray into the Indian market with a boutique outlet in the Mall of Asia located in Bangalore.

    Amouage’s Global Presence

    Founded in 1983, Amouage has significantly expanded its global footprint, boasting 25 boutiques worldwide following its retail expansion in 2025. The illustrious brand was established by Prince Sayyid Hamad bin Hamoud Al Busaidi as per the request of the Sultan at the time.

    The Petite Boutique Concept

    The petite boutique concept adopted by the company serves as a tangible manifestation of the retailer’s homeland. The boutique’s aesthetics draw inspiration from the natural landscapes and architectural principles of Oman. Sandstone textures reminiscent of the desert terrain, fluted concrete resembling the flow of dunes, and polished travertine symbolizing the geometric discipline inherent in Omani design collectively compose the unique ambiance of the store.

    The boutique also proudly showcases the Amouage logo in the Kannada script, which is the primary language of Bangalore, boasting a rich literary history of over 1500 years.

    Amouage’s Petite Boutique Locations

    The opening of the Bangalore outlet marks the addition of the fourth petite boutique to the Amouage portfolio, joining existing locations in Kuala Lumpur, London, and Muscat. In order to facilitate the successful launch of the Bangalore site, Amouage collaborated with LuxAsia, a distribution platform.

    Questions & Answers

    When was Amouage founded and by whom?
    Amouage was founded in 1983 by Prince Sayyid Hamad bin Hamoud Al Busaidi at the Sultan’s behest.

    What is the significance of the ‘petite boutique’ format adopted by Amouage?
    The petite boutique format serves as a direct translation of Amouage’s home country, Oman. The design elements inside the store reflect different aspects of Omani culture and environment.

    What are the other locations of Amouage’s petite boutiques?
    Prior to the opening of the Bangalore outlet, Amouage’s petite boutiques were located in Kuala Lumpur, London, and Muscat.

  • Google Chrome Enhances User Experience with Game-Changing Vertical Tabs and Full-Page Reading Mode

    Google Chrome Enhances User Experience with Game-Changing Vertical Tabs and Full-Page Reading Mode

    Google has introduced two new features to its Chrome browser, aiming to elevate the user experience. These additions, which include vertical tabs and a full-page reading mode, have been available on other browsers, but Chrome users can now avail of these options.

    Introduction of Vertical Tabs

    Google’s Chrome browser now supports vertical tabs, a feature that arranges open tabs in a sidebar format rather than a row at the top. While previously available through advanced settings in recent Chrome builds, the feature is now easily accessible to all users. The “Show Tabs Vertically” option can be activated by right-clicking on any Chrome window.

    This new perspective offers an organized list of tabs on the side, effectively moving the address bar higher up in the window. This adjustment allows for additional vertical space for browsing. Furthermore, this innovative feature makes navigating through tabs significantly easier, making it an appealing addition for power users.

    One can further customize their browsing experience by diminishing the tabs sidebar to display only the websites’ favicons. This option virtually eliminates the Chrome interface, thus promoting a minimalist user experience.

    Full-Page Reading Mode

    The second feature that Google has introduced is a comprehensive page reading mode. As the name suggests, this mode eliminates any unnecessary elements on a webpage, thus creating a more reader-friendly view.

    Users can activate this mode by right-clicking on a page and selecting the “Open in reading mode” option.

    Keeping Pace

    The concept of vertical tabs is not a novel one. They have gained popularity through other modern web browsers that adopt a more minimalist approach. However, Google’s introduction of this feature allows users to maximize their horizontal screen space more efficiently, providing more room for vertical scrolling.

    The vertical tabs feature has been a significant factor in retaining users for competing browsers. Its ease of navigation and efficiency are touted as major benefits.

    With these new additions, Google hopes to replicate this success and potentially re-attract users who have migrated to other browsers.

    Questions & Answers

    How can I activate vertical tabs on Google Chrome?
    You can activate vertical tabs by right-clicking on any Chrome window and selecting the “Show Tabs Vertically” option.

    What is the new reading mode feature on Google Chrome?
    The new reading mode feature eliminates unnecessary elements on a webpage, thus creating a more reader-friendly view. This mode can be activated by right-clicking on a page and selecting the “Open in reading mode” option.

    What benefits do vertical tabs offer?
    Vertical tabs offer a more organized, efficient browsing experience by providing a list of tabs on the side rather than the top. This adjustment allows for additional vertical space for browsing and promotes ease of navigation.

  • Daeil Kim Steps Up as New CEO to Fuel 7-Eleven’s Revival in Korea

    Daeil Kim Steps Up as New CEO to Fuel 7-Eleven’s Revival in Korea

    Korean Seven, the South Korean operator of the worldwide convenience store franchise 7-Eleven, has recently appointed Daeil Kim as its latest CEO. The move is aimed at driving growth and propelling a significant business transformation.

    Daeil Kim Steps Up

    Kim officially took the reins of the company on April 1. He brings along a robust portfolio of 28 years that spans across global business leadership, management consulting, and digital platforms.

    Kim expressed his dedication to his new role by articulating his focus on cooperating with the skilled team at Korea Seven. The goal is to rebuild the brand and steer it towards a period of renewed growth.

    A Wealth of Industry Experience

    Kim’s professional journey includes senior positions across various sectors, such as fintech, digital services, and marketing technology. His most recent role was as CEO of Secta9ine, the marketing and technology solutions division of SPC Group. The group operates globally recognized brands such as Paris Baguette and Baskin-Robbins.

    Prior to his tenure at Secta9ine, Kim held the position of MD and head of international business at Ascend Group. Here, he led the expansion of the ‘TrueMoney’ fintech platform across Southeast Asia.

    Revitalizing the Brand

    Kim’s appointment is a testament to Korea Seven’s dedication to rejuvenating its brand. The retail sector in Korea is witnessing rising competition and evolving consumer expectations. Korea Seven is focused on meeting these new challenges head-on and continuing to thrive in this dynamic market.

    Questions & Answers

    What is the focus of Daeil Kim in his new role as CEO of Korea Seven?
    Kim plans to work closely with the talented Korea Seven team to rebuild and boost the brand to a period of growth.

    What sectors does Kim’s professional experience span across?
    Kim has served in senior roles across fintech, digital services, and marketing technology sectors.

    What is Korea Seven’s commitment amidst the rising competition and changing consumer expectations in the Korean retail sector?
    Korea Seven is committed to revitalizing its brand to meet the increasing competition and shifting consumer preferences in the Korean retail sector.

  • Samsung’s Lee Family Wraps Up $7.95B Inheritance Tax Payment: Paves Way for Tech Investment Boom

    Samsung’s Lee Family Wraps Up $7.95B Inheritance Tax Payment: Paves Way for Tech Investment Boom

    The family of the late Chairman of the Samsung Group, Lee Kun-hee, is nearing the completion of a sizeable inheritance tax payment. The amount, approximately 12 trillion won ($7.95 billion USD), is expected to be settled later this month.

    Final Installment

    The heirs, including the Chairman’s widow Hong Ra-hee and their children Lee Jae-yong, Lee Boo-jin, and Lee Seo-hyun, will be making the sixth and concluding payment this month. This plan was initiated in 2021 after the Chairman’s passing in 2020.

    Estate Valuation

    Lee Kun-hee’s estate was estimated to be worth around 26 trillion won, comprising stocks, real estate, and art collections. Hong Ra-hee is shouldering the most significant proportion of the tax, around 3.1 trillion won. The children follow closely behind, each paying between 2.4 to 2.9 trillion won.

    Payment Strategies

    The family members navigated the tax payment through various strategies. Hong and her daughters allegedly sold shares in key Samsung affiliates like Samsung Electronics, Samsung SDS, and Samsung C&T. Hong also entered into a trust agreement earlier this year to sell 15 million Samsung Electronics in an apparent move to cover her portion of the tax.

    In contrast, Samsung Electronics Chairman Lee Jae-yong financed his share of the tax through dividends and personal loans. This approach is perceived as an attempt to maintain his influence over the group’s ownership structure, primarily centered on Samsung C&T.

    Investment Plans

    Over the past five years, the family is estimated to have received about 4 trillion won in dividends from affiliates following Lee Kun-hee’s death, and more than 6 trillion won when considering earlier dividends.

    With the tax nearly settled, the group is predicted to channel more investment into sectors like semiconductors, artificial intelligence, and biopharmaceuticals. The completion of the inheritance tax payments is significant as it coincides with improved earnings at Samsung Electronics and the resolution of legal risks.

    Questions & Answers

    What was the total worth of Lee Kun-hee’s estate?
    The estate, which comprised stocks, real estate, and art collections, was estimated to be worth around 26 trillion won.

    How did the Lee family manage to pay off the inheritance tax?
    The family used various strategies to pay the tax. This included selling shares in key Samsung affiliates and gaining dividends. Lee Jae-yong also utilized personal loans.

    What is the expected future investment direction of the Samsung Group?
    With the tax nearly settled, the Samsung Group is expected to increase investment in sectors like semiconductors, artificial intelligence, and biopharmaceuticals.

  • BNP Paribas Switzerland Pivots to Wealth Management, Targeting Swiss Entrepreneurs and High-Value Lending Market

    BNP Paribas Switzerland Pivots to Wealth Management, Targeting Swiss Entrepreneurs and High-Value Lending Market

    BNP Paribas, the French multinational bank, has recently finished the restructuring of its Swiss operations, with a primary emphasis on Wealth Management. From this point onwards, the bank’s primary concern will be to expand its wealth management sector, focusing especially on Swiss entrepreneurs. A key component of this strategy is the lending business.

    Aligning the Swiss Operations

    Over the years, BNP Paribas has been realigning its operations in Switzerland. Today, Wealth Management and entrepreneurial services form the bedrock of their strategy. Since May 2025, the Swiss unit has been operating as a branch of BNP Paribas Paris. As a result of this change, separate financial figures will no longer be made public. Enna Pariset, Swiss head of BNP Paribas, stated, “The retreat from commodity trade finance was finalized in 2022, and we concluded 2025 positively, intending to continue our growth.”

    Swiss Client Growth

    The bank intends to concentrate primarily on Swiss entrepreneurs. Pariset mentions that “Four years after the launch of the initiative, roughly 30% of the assets under management are from Swiss clients.”

    The Corporate and Investment Banking (CIB) unit is another important aspect of the company. In 2024, revenues from Swiss clients totaled €1 billion globally and saw further growth in 2025. According to the new growth plan, these figures are projected to increase to approximately €1.5 billion by 2030.

    Lending as a Key Strategy

    Lending forms a fundamental part of the Wealth Management strategy. BNP Paribas positions itself as a purveyor of intricate financing solutions for entrepreneurs and affluent private clients. Yusuf Savmaz, CEO of Wealth Management Switzerland, stated, “Not many banks offer a €150 million single-stock loan in Switzerland. Owing to our robust balance sheet and expertise, such transactions are integral to our core operations.”

    Another area of focus is the expansion of the mortgage franchise. Pariset explained, “This is a relatively new business for us. We see immense potential here, especially considering that our collaboration with AXA Investment Managers has enriched our knowledge of the real estate market in Switzerland.”

    AXA Investment Managers Integration

    BNP Paribas anticipates additional momentum from integrating AXA Investment Managers, which currently manages CHF 75.5 billion in assets for Swiss clients, including CHF 52.4 billion in Switzerland. The Swiss asset management business of AXA IM will maintain its independence, with its own CEO. However, Pariset assured that they will collaborate closely to offer clients a wider range of products.

    Private Banking Positioning

    In classic private banking, the entry threshold in Switzerland is approximately CHF 5 million. BNP Paribas adopts a tailored approach based on the client segment. For Swiss clients, the entry threshold is somewhat lower, while for new relationships with Middle Eastern clients, it’s higher due to increased regulatory requirements, explained Savmaz.

    Artificial Intelligence Initiatives

    A key aspect of BNP Paribas’ model is its integration with Corporate and Investment Banking. This deep understanding of firms through Corporate and Investment Banking helps them assess risks, noted Savmaz.

    While BNP Paribas utilizes traditional strategies in the investment management area, digital assets currently do not play an active role. Pariset stated, “We are not the right bank for that.” However, the bank is investing in new technologies and is working with Zurich fintech Unique on several AI projects.

    Questions & Answers

    What is the focus of BNP Paribas in Switzerland?
    BNP Paribas is focusing on expanding its Wealth Management sector, especially serving Swiss entrepreneurs.

    What is BNP Paribas’ approach to private banking in Switzerland?
    In private banking, BNP Paribas adopts a differentiated approach based on the client segment with an entry threshold of approximately CHF 5 million.

    Does BNP Paribas have plans to invest in digital assets?
    Currently, BNP Paribas does not see an active role for digital assets in its investment management area.

  • Qantas Freight Expands Asia Pacific Presence with New Singapore Stop, Boosting Changi Airport’s Air Cargo Network

    Qantas Freight Expands Asia Pacific Presence with New Singapore Stop, Boosting Changi Airport’s Air Cargo Network

    Qantas Freight, a subsidiary of the Australian airline Qantas, recently announced the launch of its dedicated freighter services to Singapore. These services, which are expected to begin on April 3, 2026, will operate twice a week and include stops in Sydney, Shanghai, and Singapore.

    New Freight Services

    Qantas Freight’s new services are expected to further bolster the cargo network at Changi Airport. The services will provide increased capacity, more routing options, and more flexible scheduling for shippers and freight forwarders. The services will be carried out through Qantas’ A330 freighter flights on Fridays and Sundays, delivering more than 50 tons of cargo capacity per flight.

    The Singapore stopover is a new addition to Qantas’ existing Sydney-Shanghai freighter operations, which is set to enhance connectivity across the Asia Pacific cargo network.

    First Dedicated Freighter Service

    This is the first time Qantas is offering a dedicated freighter service to Singapore. This service is expected to complement its existing belly-hold cargo capacity on scheduled passenger services. Moreover, this new routing reflects the growing demand for time-sensitive air cargo moving across Asia, Australia, and beyond.

    Singapore’s strategic location and significant global air cargo connectivity make Changi Airport an essential consolidation and transshipment hub for regional and intercontinental cargo flows.

    Statements from Qantas Freight and Changi Airport Group

    Lim Ching Kiat, Executive Vice President of Air Hub and Cargo Development at Changi Airport Group, stated that Qantas Group’s decision to expand its freighter operations to Singapore couldn’t have come at a better time. According to him, there has been an increase in air cargo demand in the Asia-Pacific region, and the region is playing a more significant role in global air cargo growth.

    Igor Kwiatkowski, Qantas Freight Executive Manager, also remarked on the importance of the new Singapore stop. He said that it would be a significant addition to the airline’s Asia Pacific presence and freight network. According to Kwiatkowski, Singapore’s status as one of the world’s major cargo hubs will play a crucial role in connecting shipments between Australia, China, and Southeast Asia. He added that the new stop would provide freight forwarders with more routing options and flexibility, especially for high-tech goods and e-commerce.

    Questions & Answers

    What is Qantas Freight’s new service?
    Qantas Freight’s new service is a dedicated freighter service to Singapore, with twice-weekly operations that include stops in Sydney, Shanghai and Singapore.

    What benefits does this new service bring to shippers and freight forwarders?
    The new service provides increased capacity, more routing options, and more flexible scheduling to shippers and freight forwarders.

    How will the new service impact Qantas Freight’s presence in the Asia Pacific region?
    The new Singapore stop is expected to significantly enhance Qantas Freight’s presence and freight network in the Asia Pacific region. It will connect shipments between Australia, China, Southeast Asia, and improve routing options and flexibility for freight forwarders.

  • DHL Express Elevates Herbert Vongpusanachai to Drive Commercial Growth in Asia Pacific

    DHL Express Elevates Herbert Vongpusanachai to Drive Commercial Growth in Asia Pacific

    Global express service giant, DHL Express, has recently announced the appointment of Herbert Vongpusanachai to the position of Senior Vice President, Commercial for Asia Pacific, effective April 1, 2026. Vongpusanachai, in his current role as Managing Director for DHL Express Thailand & Indochina, will relocate to Singapore to undertake his new responsibilities.

    Vongpusanachai’s vast experience within DHL Express spans over two decades, during which time he has effectively overseen several significant markets across the Asia Pacific region. Starting his career with the company in 2003 as Managing Director for Thailand & Indochina, he later assumed leadership of Singapore in 2008, and Hong Kong & Macau in 2016. Vongpusanachai’s return to Thailand & Indochina in 2020 saw him drive consistent profitability and growth year after year, establishing the cluster as a crucial catalyst for regional expansion.

    Exceptional Leadership

    Vongpusanachai’s exceptional track record of notable business performance, coupled with his effective team management across diverse markets, sets him apart from his peers. His deep comprehension of customer needs, his cooperative leadership style and his ability to identify opportunities in complex environments position him as the ideal leader to advance DHL Express’s commercial agenda for Asia Pacific. Ken Lee, CEO of Asia Pacific for DHL Express, expressed confidence that under Vongpusanachai’s stewardship, the region will continue to see a rise in sustainable growth.

    In his new role, Vongpusanachai will set the pace and accelerate the commercial strategy for DHL Express across the Asia Pacific. Collaborating with other departmental leaders, he will evaluate potential new sectors, routes and trade lanes for growth. His focus will remain on deepening customer engagement, supporting their expansion, driving sustainable volume growth, and promoting the integration of new technologies to improve commercial execution across markets. With an extensive understanding of regional nuances and an emphasis on people-first leadership, Vongpusanachai is expected to elevate the commercial performance of both regional and country teams.

    Commercial Success and Future Prospects

    Vongpusanachai commented that the Asia Pacific region’s vital role in global trade as highlighted in the latest DHL Global Connectedness Report underscores the importance of logistics in facilitating the movement of goods. With the introduction of the Heavyweight Express solution, which allows customers to ship heavyweight consignments promptly and reliably, Vongpusanachai anticipates working with the talented teams at DHL Express to help shape the company’s future commercial success.

    The latest DHL Global Connectedness Report reveals the Asia Pacific region’s continued importance in global commerce, with several economies rising in global connectedness rankings and Southeast Asia strengthening its position as a rapidly growing trade corridor. This aligns with DHL Groups’ strategy to enhance support for 20 markets globally to drive growth, with eight of these markets located in the Asia Pacific. This appointment fortifies DHL Express’s position in Asia Pacific, as trade flows diversify and intra-Asia integration deepens.

    Questions & Answers

    What significant experience does Herbert Vongpusanachai bring to his new role?
    Mr. Vongpusanachai brings more than two decades of leadership experience at DHL Express, having effectively managed multiple key markets across the region.

    What is the primary focus of his new role as Senior Vice President, Commercial for Asia Pacific?
    In his new role, Mr. Vongpusanachai will focus on shaping and accelerating the commercial strategy for DHL Express across the Asia Pacific. His responsibilities include identifying growth potential in new sectors, routes and trade lanes, deepening customer engagement, and promoting the adoption of new technologies.

    How does this appointment align with DHL’s overall strategy?
    This appointment supports the DHL Group’s strategy to enhance support for 20 global markets to accelerate growth. The role strengthens DHL Express’s position in the Asia Pacific, a region that plays a critical role in DHL’s global network.

  • DHL Supercharges Asia-Europe Trade Lanes with Expanded Air Freight Capacity

    DHL Supercharges Asia-Europe Trade Lanes with Expanded Air Freight Capacity

    DHL Global Forwarding, which is part of the DHL Group and specializes in air and ocean freight, is looking to increase its dedicated air capacity between Asia and Europe. This will be achieved through the introduction of new weekly flights that will connect the primary logistics centers of Shanghai-Leipzig and Liège-Hong Kong. The new service offering highlights the synergy between DHL Global Forwarding and DHL Express, thereby bolstering the Group’s capacity to cater to the burgeoning Asia-Europe trade routes.

    Launch of Weekly Boeing 777F Rotations

    Coinciding with the initiation of the summer flight schedule, DHL Global Forwarding will commence weekly Boeing 777F rotations. These rotations will connect Shanghai-Leipzig and Hong Kong-Liège, facilitating further distribution across Europe. These flights will significantly augment the uplift available for DHL Global Forwarding’s client base.

    Henk Venema, the Global Head of Air Freight at DHL Global Forwarding, stated that the expansion of their company’s controlled capacity on the Asia-Europe route underscores their commitment to delivering reliability, speed, and resilience for their clients. He mentioned that the demand on this specific trade lane is escalating at a remarkable rate, and bolstering their network will allow them to remain a step ahead of their customer’s needs.

    Enhancing DHL’s Asia-Europe Air Freight Capacity

    Leipzig was selected as it is a pivotal DHL Express aviation hub and boasts robust infrastructure for operational processing. It will act as a crucial gateway for shipments received from Shanghai. This move aligns with DHL’s larger strategy of utilizing its European hubs to optimize efficiency and cater to demand spikes during high season.

    The Liège-Hong Kong route will include a stop in Tel Aviv, which is crucial in maintaining market support and ensuring consistent service for clients. In collaboration with the operating airline partner, the flight may also accommodate limited cargo loading or offloading if necessary. The return trip from Hong Kong will feed directly into DHL’s European distribution network.

    Enhancements Across Intercontinental Air Network

    DHL is also planning to make further improvements to its intercontinental air network, alongside the new Asia-Europe capacities. This includes the planned increase in transpacific uplift between Southeast Asia and the United States later this year.

    Travis Cobb, EVP Global Operations and Aviation at DHL Express, commented on the cross-divisional collaboration, stating that it exemplifies their commitment to facilitating global trade flows. This collaboration between DHL Global Forwarding and DHL Express will allow customers to capitalize on their combined strength as the world’s premier logistics provider.

    By offering additional flight capacities, DHL Global Forwarding and DHL Express are closely aligning to provide customers with enhanced reliability, flexibility, and global reach across the supply chain. Leveraging shared assets and operational strengths within DHL, the divisions continuously deliver integrated solutions that complement each other.

    Questions & Answers

    Why is DHL Global Forwarding expanding its air capacity between Asia and Europe?
    DHL Global Forwarding is expanding its dedicated air capacity to cater to the increasing demand on the Asia-Europe trade lanes and to enhance the Group’s ability to serve this rapidly growing market.

    What role will Leipzig play in DHL’s expanded services?
    Leipzig will serve as a key gateway for shipments arriving from Shanghai, leveraging its status as a major DHL Express aviation hub with a strong operational processing infrastructure.

    How is DHL working to enhance its intercontinental air network?
    In addition to the new Asia-Europe capacities, DHL is preparing further enhancements across its intercontinental air network. Plans include increased transpacific uplift between Southeast Asia and the United States later in the year.

  • Vontobel Targets High-Net-Worth Market with New Düsseldorf Branch: Swiss Investment Firm Fortifies German Presence

    Vontobel Targets High-Net-Worth Market with New Düsseldorf Branch: Swiss Investment Firm Fortifies German Presence

    Swiss investment company, Vontobel, has announced its plan to establish a new office in Düsseldorf in 2026. This new branch will further assert their position in Germany, with a particular focus on high-net-worth individuals (HNWIs) and family offices in North Rhine-Westphalia.

    Consistent Growth Strategy

    Vontobel’s decision to extend its operations in Germany aligns with their ongoing selective growth strategy in prime European markets. The firm already views Germany as a core market where it provides services to private clients through its offices in Munich and Hamburg. Meanwhile, the firm’s institutional activities and European structured products businesses are primarily operated from Frankfurt.

    In a joint statement, Christel Rendu de Lint and Georg Schubiger, Co-CEOs of Vontobel, stated, “We are consistently pursuing our strategy of selective investment in growth. As one of Europe’s key markets, Germany, and particularly North Rhine-Westphalia, are crucial to our business strategy.”

    Targeting a Prime Wealth Region

    Düsseldorf is renowned for its well-established wealth management tradition and a thick web of industrial, commercial, and service-oriented businesses. As such, it is a logical next step for the Zurich-based firm. The new branch will concentrate on providing customized investment solutions to affluent private clients and family offices in the area.

    The company plans to make use of its global investment platform, backed by more than 300 investment professionals worldwide, to deliver local services while maintaining its international diversification capabilities.

    Jean-Pierre Stillhart, Head of Private Clients DACH and member of the Executive Management Board of Bank Vontobel, highlighted the strategic reasoning behind this move: “As an internationally active Swiss wealth manager, this expansion provides our clients in Germany with additional perspectives and diversification opportunities.”

    The firm has now begun the search for a prime Düsseldorf location and is actively seeking experienced advisers and teams who align with its long-term investment philosophy and conservative risk culture.

    Expansion of Cross-Border Wealth Model

    Vontobel’s expansion reinforces its cross-border wealth management model, which allows German clients to custody assets either domestically or in Switzerland. Currently, about 20 investment professionals in Munich and Hamburg, supported by specialists in Zurich, serve German-based clients.

    As of the end of 2025, Vontobel managed over EUR 130 billion in assets for private clients globally, illustrating the scope of its wealth management franchise.

    The Düsseldorf initiative reflects a more extensive industry trend where Swiss private banks are selectively extending their operations in Germany. This expansion seeks to tap into structurally attractive wealth pools, especially among entrepreneurial clients and family offices interested in international diversification and advisory-driven mandates.

    Questions & Answers

    What is Vontobel’s strategy for growth?
    Vontobel uses a selective growth strategy, specifically focusing on key markets in Europe. Germany, in particular, is a core market for the firm.

    How does Vontobel plan to serve clients in Düsseldorf?
    Vontobel plans to use its global investment platform, which is backed by more than 300 investment professionals worldwide. This approach allows the firm to deliver local services while maintaining international diversification capabilities.

    What is unique about Vontobel’s expansion to Düsseldorf?
    This expansion aligns with a broader industry trend where Swiss private banks are selectively extending their operations within Germany to tap into attractive wealth pools. As such, Vontobel’s move into Düsseldorf is part of a larger strategic move within the wealth management industry.

  • Chinese New Year Sparks Stellar 11.2% Surge in Singapore’s Retail Sales

    Chinese New Year Sparks Stellar 11.2% Surge in Singapore’s Retail Sales

    In February, retail sales in Singapore experienced a significant surge, partially attributed to the shifting timing of the Chinese New Year. According to data released by Singapore’s Department of Statistics, retail sales, excluding automobiles and related parts and accessories, skyrocketed by 11.2% in February. This marked a turnaround from a decrease of 2.9% in January.

    Details of Retail Growth

    The estimated total retail sales for February amounted to SG$3.6 billion (US$2.8 billion), with online sales accounting for 16.2% of the total. The significant growth seen in February was partially due to the Chinese New Year falling in February this year, compared to January the previous year.

    For the combined period of January and February, retail sales increased by 3.5% year-on-year.

    Sectoral Growth Patterns

    Most sectors reported year-on-year growth in February’s sales. Supermarkets and hypermarkets led the surge with a growth of 29.3%, followed by recreational goods which saw an increase of 26%. Department stores reported a rise of 16.8% in sales, while the food and alcohol, cosmetics, and watches and jewelry sectors each saw an approximate increase of 13%.

    However, not all sectors experienced growth. The petrol service stations and mini-marts and convenience stores sectors faced declines of 9.8% and 6.1% respectively.

    The food and beverage services sector saw a rise in sales of 5.5% in February, marking a recovery from the 3.2% decline recorded in January.

    Questions & Answers

    What were the estimated total retail sales for Singapore in February?
    The estimated total retail sales for Singapore in February were SG$3.6 billion (US$2.8 billion).

    What percentage of February’s retail sales were from online?
    Online sales made up 16.2% of the total retail sales in February.

    Which sectors saw the most significant growth in February?
    Supermarkets and hypermarkets experienced the most significant growth with a rise of 29.3%, closely followed by recreational goods with a 26% increase.