Category: General

Retail News Asia is committed to providing both local and global retailers with the latest General Retail news throughout the Asian market. This on a daily base.

Apple’s plan to allow alternative payment platforms for Dutch dating apps is reportedly rejected

Apple could be fined this coming week by the Netherlands’ ACM (Authority for Consumers and Markets) for continuing to take a cut of 15% to 30% of in-app payments for dating apps in the country that are downloaded from Apple’s App Store. Apple does not allow developers to offer alternative payment platforms for their apps and any developer that does faces expulsion, along with their related apps, from the App Store.

By failing to fully comply with the ACM, Apple currently owes over 45 million euros ($49 million) in penalties. The watchdog agency has charged Apple 5 million euros weekly since January for continuing to block alternative payment platforms for dating apps from the App Store. This past week was the ninth that saw Apple fined for failing to follow the order and once the amount Apple owes reaches 50 million euros, subsequent fines could be higher.

Reuters reports that Apple submitted a new proposal to the ACM last week hoping to get the weekly fines halted. However, an unnamed official at the ACM told the news agency that Apple’s proposal does not comply with its order. Earlier this month Apple told the agency that it was following the agency’s request by telling developers of Dutch dating apps that they could provide users with a third-party in-app payment platform.

However, Apple wants the developers to essentially create a separate app for the Dutch App Store and another for the App Stores used in other countries. Apple felt that this request was fair and would make sure “that Apple complies with its legal obligations in the Netherlands while at the same time having the ability to maintain its standard terms and conditions in the rest of the world.”

The ACM begged to differ responding that Apple’s plan created an unnecessary barrier. Back in 2019, the watchdog agency started an investigation to determine whether Apple was abusing its dominant market position. That investigation was later reduced in scope to cover dating apps only, including Tinder.

Apple, according to the agency, abuses its domination of the market and has been ordered to revise its ban on third-party App Store payment platforms. Apple says that it does not abuse its position in the marketplace.

Last week we told you that if the Digital Markets Act (DMA) becomes law in the EU, Apple may be forced to allow iPhone users to sideload apps from third-party app stores which is a practice it currently does not allow anywhere due to security concerns.

If the DMA does become law in the EU, Apple will also have to allow alternative payment platforms to collect in-app payments in the App Stores found in member countries. EU’s antitrust chief, Margrethe Vestager says that the Act could become law as soon as this coming October, or it could take until 2023 to pass.

Apple is also caught up in Epic’s appeal of the aforementioned court case that saw Judge Yvonne Gonzalez Rogers release a 185-page decision that said Apple is not a monopoly, and that the company cannot be punished for being successful. The judge did order an injunction that prevents Apple from blocking the use of third-party app payment platforms, but the tech giant won a last second stay blocking that injunction from the Ninth U.S. Circuit Court of Appeals.

So for now, at least in the U.S., Apple can continue to block alternative app payment platforms from entering the walled garden. In other regions of the world, Apple might have to make some changes.
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March 28, 2022

Google watches over Maps to protect bad actors from contributing fake reviews

A few days ago Google published a blog post about how it keeps information on Google Maps “reliable.” Google writes, “In a world that’s constantly changing, it’s important for Google Maps to give you the freshest, most up-to-date information possible — so you can know whether the restaurant down the street from you reopened or if your neighborhood grocery store has curbside pickup. One way we do this is through contributed content.”

Every day, Google receives 20 million contributions from Maps users who are willing and eager to tell Google about changes to businesses’ hours of operations, phone numbers, and other important information that helps Maps users find out when they can visit a particular business and how to get in touch with the company. Google also receives photos and reviews among the contributions that Maps users send it daily.

Of course, Google needs to be alert to make sure that the contributions being received are accurate. After all, 20 million contributions a day is a logistics nightmare and one incorrect phone number or bogus review posted on Google Maps could negatively impact a company. And some of the 20 million contributions that Google receives daily are bogus or faked on purpose, possibly by a company’s competitors, or by some malicious users.

Google wrote, “As with any platform that accepts contributed content, we have to stay vigilant in our efforts to fight abuse and make sure this information is accurate. Thanks to a combination of machine learning and human operators, we continue to decrease the amount of content seen on Maps that is fraudulent or abusive – in fact, it’s less than one percent of all the content that is viewed on Maps.”

Last year, Google was able to update information for 30% more business than the number it revised the year before. Using Machine Learning tools it blocked over 100 million fraudulent edits from going live by using ML technology to find malicious bots and abusive edits.

That includes 7 million totally fake business profiles it removed and 12 million fake Business Profiles it took down. In addition, it stopped 8 million bad actors (and we don’t just mean those that didn’t win an Oscar) from claiming Business Profiles that weren’t theirs. Google added, “Thanks to continued improvements in our machine learning, our technologies and teams disabled more than 1 million user accounts due to policy-violating activity, such as online vandalism or fraud.”

Earlier in this article, we mentioned how competitors could potentially post negative comments and reviews to damage a targeted store or business. Google itself alludes to this in his blog post by stating, “We also saw individuals and groups attempt to use fake reviews as a tactic to hurt local businesses — oftentimes spurred by public attention on differences in opinions.” So after detecting abuse and suspicious activity, Google protected 100,000 business from getting attacked on Google Business Profiles.

Google also blocked or removed more than 95 million reviews that violated its policies. It also took down 1 million reviews that were reported to it and blocked over 190 million photos and 5 million videos that were blurry, low-quality, or violated Google’s content policies.

As Google notes, “Local knowledge that our global community contributes is a huge part of what makes Google Maps more than a navigation tool. We’ll continue to invest in keeping this information fresh and reliable so you can discover information about the world around you.

An app like Google Maps attracts bad actors because of its reach and the number of people that use it. For example, more than one billion people use Google Maps each month. And some companies that demanded that customers wear masks were the recipient of fake reviews posted by anti-maskers as a way to get back at them. Luckily, Google stands guard to make sure that these fake commends and ads are taken down.

March 28, 2022

Dyson to invest US$1.1 billion in Singapore as part of global plan

Dyson, the inventor of the bagless vacuum cleaner, said on Friday it would invest S$1.5 billion ($1.1 billion) in Singapore over the next four years, the newest phase of a S$4.9 billion global investment plan.

When Dyson announced the global investment plan in 2020, it said the money would be divided between the company’s global head office in Singapore, its two campuses in Wiltshire, southern England, and the Philippines.

On Friday, it launched its new global headquarters in a restored power station in the Southeast Asian city-state, where it plans to hire more than 250 additional engineers and scientists.

The positions will span robotics, machine learning, high-speed electric digital motors, energy storage, and more.

Singapore is a hub for Dyson’s research and engineering teams, as well as commercial, advanced manufacturing, and supply chain operations. It has more than 1,400 staff in the country, including 560 engineers and scientists.

Singapore, a low-tax global business centre, has been ramping up efforts to lure technology and research firms.

“This is the future for technology companies – to go wherever talent is available and made welcome,” its prime minister, Lee Hsien Loong, said at the opening of the headquarters.

“It is also the future for Singapore – to welcome companies and talent, which can help make us a hub of new ideas and scientific progress.”

Founded by British entrepreneur James Dyson in the 1990s, the company became a household name by developing sleekly designed products ranging from hand driers and air purifiers to hair care tools and vacuums.

Dyson, a billionaire Brexit supporter, announced plans in 2019 to move his company’s head office to Singapore to be closer to its fastest-growing markets, sparking a backlash at home.

The company has other sites in Singapore, including an engineering hub, a motor manufacturing facility and a new battery factory.

Southeast Asia is a major production base for Dyson with Malaysia counting as its second-biggest global hub.

Last year, Dyson split with its supplier ATA IMS Bhd following an audit of the Malaysian company’s labour practices and allegations by a whistleblower.

ATA made parts for Dyson’s vacuum cleaners and air purifiers.

March 28, 2022

FujiMart to expand its footprint in Vietnam

Sumitomo Corporation is accelerating its expansion plan for its FujiMart grocery supermarket chain in Vietnam, eyeing about 50 new stores by 2028 through its extended partnership with BRG Group.

The retail chain aims to open five to 10 stores per year from FY2022, including new stores in Ho Chi Minh City. FujiMart offers a product range, sales floor design, and freshness management tailored to local needs that are based on Japanese-style supermarket operations.

“In recent years, the overall grocery retail market in Vietnam has been expanding rapidly due to rising personal incomes and improved living standards bolstered by economic growth,” Sumitomo said in a statement.

“Growing consumer awareness in areas of food security and safety, including hygiene measures taken to fight Covid-19 infections, has led to a shift from traditional retail outlets run by individual proprietors to modern stores, such as supermarkets and convenience stores which offer superior levels of safety and convenience.”

Launched in 2018 in Hanoi, FujiMart Vietnam currently operates three stores in the city. Under the partnership, BRG group owns 51 per cent of FujiMart while Sumitomo holds the remaining stake.

March 28, 2022

Ways To Have Fun And Win At Online Casinos

Because of greater accessibility and an enormous selection of online games available on various platforms, gambling sites now provide world-class and better gameplay than land-based casinos.

When you start a game at an online casino, you’re guaranteed to have fun, feel comfortable, and make money. online casino sites can be accessed from anywhere in the world. Every day, both novice and veteran gamblers ate, joining various online gaming platforms to play online casino games.

Are you a newcomer to online casinos? Here are some ideas for having fun at an online gaming site and choosing the types of games. You can try out all these solid Online Casino Strategies for beginners at bingo online real money philippines Casino.

Take advantage of new promotions

Today’s online gambling industry is rife with competition. Every day, hundreds of online gambling sites compete for the hearts of users. Because the online market is worldwide, online websites employ marketing strategies to attract new customers and retain current ones. One of the most popular methods is to use free spins and promotional offers.

You can take advantage of these offers to increase your winnings in online casinos in the Philippines. Use the free spins as well as bonuses to give yourself an advantage when trying to play at your favourite casino.

Once you’ve used up your rewards in one casino, you can always join a new one and take advantage of their new player welcome bonus.

Enter the chat rooms

Joining chat rooms allows online gamers to interact with other gamers while still playing their favourite games and having a strategy. You can meet someone new and exchange ideas on how to improve as a player here.

Whether you’re lucky, you might even meet professional gamers who can help you improve your gaming abilities. Live dealer games also allow players to interact with a true dealer via webcam.

Take part in tourneys

Tournaments are available at reputable online gambling sites. You can participate in these tournaments and compete against the finest punters. It’s a great way to put your online gambling knowledge to the test, and you might even get a chance to win big.

Experiment with some entertaining titles

Since all online casinos offer digital, you can play a variety of slots with different features and themes. To Win At Online Casinos and provide a diverse range of games, online casinos collaborate with some of the best software vendors, including Netent, Evolution Gaming, and many others.

Some of these development companies create new games every month. There are currently literally thousands of online slots to keep you occupied for years. There is something and someone for everyone, whether you prefer slots or table games.

Examine guide books as well as reviews

Understanding online players’ favourite titles is the best approach for having fun at a gaming site. Reading reviews as well as guidebooks is an excellent way to accomplish this.

They assist you in fully comprehending the fun and devising a great strategy to increase your winnings. Before you begin gaming, make sure you have read the types of bonuses. You can also play games for free.

Set spending restrictions

The right approach to bet is to bet in a responsible way. Most online casinos will gladly assist you with this. Setting limits is a prevalent tool for assisting players. As a casino customer, you can set a loss as well as a win limit. These limits are clever ways to keep track of how much you end up losing or win over time.

The best part is that you can set these limits myself, and they can be rebooted daily, weekly, or monthly. Once you’ve reached your limit, you won’t be able to place any more wagers until the limit is reset. A win cap works on the same principle, but with a player’s account.

Final Thoughts

In conclusion, Gambling Fun is quickly becoming popular among individuals from different walks of life and with a wide range of financial means. Trying to incorporate our top tips into your casino style will help you ensure that you enjoy and also have fun while gambling online.

March 26, 2022

Meta seals partnership for 3D ads in step toward the metaverse

Meta Platforms will make it easier for brands to run three-dimensional ads on its Facebook and Instagram social media platforms through a new partnership with an eCommerce technology firm.

The integration with VNTANA will allow brands to upload the 3D models of their products to Facebook and Instagram and easily convert them into ads, VNTANA said on Thursday in a press release.

The move is a stepping stone into advertising in the metaverse, said VNTANA Chief Executive Ashley Crowder, referring to the futuristic idea of a collection of virtual worlds that can be accessed through devices such as headsets.

Meta has staked its future on contributing to the building of the metaverse, which it has said could take up to a decade to be realized.

Meta previously partnered with augmented reality (AR) companies Modiface and PerfectCorp to help beauty and cosmetic brands more easily run 3D and AR advertising.

“The metaverse is basically the spatial internet,” Crowder said. “It is a whole world of possibility that starts with having the right 3D models of your products.”

Facebook and Instagram users who see a 3D ad while browsing on their desktop or phone can interact with an image of a handbag, for instance, and move it around to view the item from all angles.

“In a way, this offers a glimpse of what you might expect on future devices like AR glasses,” said Chris Barbour, director of augmented reality partnerships at Meta’s Reality Labs unit.

Before VNTANA’s integration with Meta, advertisers would need to reformat 3D files to be compatible with Meta’s ad systems. Now, brands can use VNTANA to easily upload and convert the files into ads without technical expertise in working with 3D images, Crowder said.

March 25, 2022

AirAsia boosts domestic and international flights

AirAsia gears up for the nation’s reopening by adding more international routes to cater for significant pent-up demand ahead of Malaysia reopening borders to international travel 1 April.

With the continued easing of travel restrictions, the airline group increased domestic flight capacity in Malaysia by 156% since October 2021, when it kickstarted the Langkawi travel bubble scheme.

It has also increased international flights by 50% since the Malaysian government’s 8 March announcement confirming the reopening of borders on 1 April.

Currently, the airline has 75 aircraft operating flights across the group serving Thailand, the Philippines, Indonesia, Cambodia, Singapore and Vietnam.

AirAsia Aviation Group CEO Bo Lingam said: We’re thrilled to be resuming more flights in all of our core markets in Malaysia, Thailand, the Philippines and Indonesia and to be adding additional services to some of AirAsia’s most popular international destinations, including Bali, Manila, Bangkok, Ho Chi Minh City, Phuket and more, starting in April. Domestic flying also continues to soar across the group. We have recently launched four new domestic routes in Malaysia from Kuching to Langkawi, Penang to Sibu, Johor Bahru to Bintulu and Kota Kinabalu to Kuala Terengganu this year.

“While our domestic services across the group have grown by 156% in recent months due to significant consumer demand, and by 50% for international, we expect to return to 100% or more of pre-Covid domestic and international flying by the end of this year.”

To spur travel demand and bookings to destinations such as Singapore, Vietnam, the Philippines, India, Thailand, Indonesia, the Maldives, Brunei, Cambodia, Sri Lanka, Laos, Bangladesh, the airline group is pegging fares as low as MYRM89 one-way, while domestic routes are on sale from just MYR39 one-way.

Travelers can book cheap fares through the ‘Flights’ option in the AirAsia Super App from now until 27 March 2022 for travel between 1 April and 25 March 2023.

March 25, 2022

Google Meet update adds important audio capabilities

Google Meet is getting a small yet important update this week, which adds noise cancellation capabilities to the app. The new feature is available to all Google Meet users starting today and there’s no need to make any adjustments to the app’s settings to benefit from noise cancellation.

Google Meet users can take advantage of noise cancellation if they join a meeting using any Google Meet hardware devices. Also, the feature is available for the meeting organizer’s Google Workspace edition. It’s important to mention that if a user has noise cancellation, the feature will be active in all meetings regardless of whether the meeting organizer has noise cancellation or not.

Google Workspace accounts that have noise cancellation enabled by default for their organizations in meetings with other people outside, they can also use the feature, but only during that meeting.

The new feature is enabled by default for Google Workspace Business Standard, Business Plus, Enterprise Essentials, Enterprise Standard, Frontline, Enterprise Plus, and Workspace Individual Subscriber accounts. However, noise cancellation will not be on by default for Education Plus, and Teaching and Learning Upgrade accounts.

March 25, 2022

EMERALD 101 : ALL YOU NEED TO KNOW ABOUT THE GREEN GEMSTONE

A number of gemstones occur in shades of green, but none comes close to the deep green emerald. Emeralds are very popular in jewellery fashion and closely follow after diamonds in terms of demand. This article contains all the basics that need to be known about emeralds, including their origin, significance, and characteristic features.

What is an Emerald?

The emerald is one of the four most sought after gemstones. Alongside sapphire, ruby and diamond, it is considered the most beautiful, rarest, and hardest of all gemstones.

The rich beautiful green colour is what makes emeralds desirable among coloured gemstones. Emeralds do not have a universal specific colour and may occur in colour hues ranging from yellowish green to lemon and then bluish-green. An emerald stone may also tend to exhibit both green and blue colour hues at one. This is due to the double refractive nature of emeralds.

Emeralds can be cut into various shapes, but the most fitting ones are the octagon, princess, oval, round, pear and baguette. The octagon shape is most known with emerald jewellery and the shape itself has come to be regarded in jewellery production as the ’emerald shape’.

Emeralds are produced from Beryllium silicate crystals and have the chemical formula Be₃Al₂(SiO₃)₆. The formation process of emerald crystals is very extensive and takes years to complete. Nowadays, emeralds can be created in laboratories, like the ones from BIRON® Gems, to have exact physical and chemical characteristics as natural ones.

As May’s birthstone, emerald is believed to trigger traits of peace and friendliness. Emeralds are also thought to be a symbol of loyalty and commitment. The deep green colour of emerald which is characteristic of plants makes it also strongly believed to be the gemstone of fertility and growth.

The History of Emerald

Emerald deposits are found in areas which were active volcanic site millions of years ago. Erosion and major shifts in the earth crust brought the precious stones near the surface from where they are mined.

The origin of emerald is often traced to Egyptians who first discovered the gemstone around 1500BC. According to history, the Egyptians found huge deposits of the unique gemstone and called the area ‘emerald mountain’. They began to use the gemstone to appease their gods for fertility and positive growth.

It is also believed that Queen Cleopatra of Egypt played a unique role in increasing the popularity of emerald gemstones. Cleopatra was reported to have been very obsessed with the green stone, so much that she amassed them and displayed them to dignitaries who visited her palace. In no time, emeralds became popular in the Asian continent and the ‘emerald mountain’ was soon mined to rubbles by Arabs and reportedly, Romans.

Emeralds are solidified crystals of beryllium silicate. The crystals are formed in hydrothermal veins and pegmatites deep within the earth crust. These are brought about by the channels of escape created by molten magma. If the magma contains elements such as beryllium and silicon, it may begin to form emerald crystals in the channels as it cools. Later on, these deposits are brought to the surface through major land shifts and geographic changes that occur over time.

Where are Emeralds Found?

Emeralds are mined in Colombia, Brazil, Zambia, India, Ethiopia, and America. Due to the varying conditions that led to the formation of the crystals in each location, the gemstone occurs in varying quality and colour tone.

Colombia is home to the finest emeralds ever discovered. They have the richest green colour caused by the presence of chromium deposits in the crystals. Emeralds mined from Brazil contain vanadium deposits, adding a characteristic dull grey or brown colour to them. On the other hand, emerald crystals mined from Zambia contain iron inclusions and therefore have colours that tend towards a blue hue.

There are three major mining zones for emeralds in Colombia. These are found in Chivor, Coscuez, and Muzo. Emeralds have been extensively mined from these regions and surveillance provide that the emerald deposits may not be exhausted in many years to come.

Laboratory production of emeralds reduces some recurring issues associated with natural mining and also protects the environment from the adverse effects of mining such as destruction of landscapes and air pollution.

Conclusion

Emeralds make stunning pieces of jewellery at all times. Durable and best worn as engagement rings, pendants, and bracelets, the precious stone will be the perfect gift, for your precious one.

March 25, 2022

Pinduoduo named top logistics company for farm-to-fork innovation

Chinese agriculture platform Pinduoduo was named one of the top 10 innovative logistics companies in Fast Company’s 2022 annual rankings for its work on a new logistics system for handling agricultural products.

Pinduoduo operates an e-commerce platform that serves more than 850 million buyers and over 16 million agricultural producers. Its Duo Duo Grocery service matches orders and producers in the same geographical region to cut down on transportation time.

“Pinduoduo has re-architected China’s hub-and-spoke-style delivery infrastructure, with the help of third-party logistics providers, and built out new cold-chain transportation routes to eliminate unnecessary transit points, which slow down delivery, diminish freshness, and increase food waste,” Fast Company wrote in its citation.

The company has also been proactively investing in research and development to benefit China’s rural population and farmers, the publication noted.

Pinduoduo’s journey to becoming a leader in logistics has its roots in an early setback in 2015, back when it was an online fruit seller. Back then, the lack of a comprehensive front-to-end order fulfillment system led to the team missing most of its deliveries after an unexpected surge in orders and resulted in many customers receiving rotten fruits.

That episode highlighted the inadequacies of the fledgling company at that point in its development. It also laid bare the limitations of the logistics infrastructure, which was built to funnel parcels from tens of thousands of collection points to a centralized distribution system to maximize efficiency. However, what worked for transporting durable goods was also less suited for fragile agricultural products.

About half of China’s annual food loss and waste takes place soon after harvest when the agricultural produce is being processed, stored and transported, according to a study published in Nature. Minimizing the loss not only reduces the environmental footprint of agriculture, but it also boosts farmer livelihoods and improves consumer welfare through fresher food.

Since then, Pinduoduo has taken upon itself to develop a more flexible logistics infosystem and agriculture-focused infrastructure that reduces the need for multiple transshipments and enables more point-to-point deliveries.

The new agri-friendly logistics system is built on the back of advanced calculations that take into consideration multiple factors such as the timing of truck deliveries, warehouse location and route planning. Computing power has also advanced to the point where making sense of the vast amounts of real-time supply chain information is now technologically possible.

March 25, 2022

Diptyque unveils its largest flagship yet, in South Korea

Diptyque’s new flagship store in Seoul is its largest yet, anywhere in the world, reflecting its confidence in the South Korean perfume market which is showing rapid growth. Located in the upscale shopping street Garorugil, the Diptyque flagship’s design was inspired by the French brand’s original space on 34th Avenue Saint-Germain in Paris, resembling a cozy apartment with a dining room, kitchen, living room and bathroom. The ground floor houses Diptyque’s full collection of

The ground floor houses Diptyque’s full collection of perfumes and home fragrances, including limited editions and boutique-exclusive products. The 260sqm store offers customization services such as engraving, perfume message ribbon, embossing, and candle message capsules.

A large marble staircase leads to the upper floor, which was designed with a layout of an up-market Paris apartment. While the cozy living room is decorated with a counter “reminiscent of a herbalist”, the kitchen is inspired by the one in the “magnificent private residence of Moise de Camondo” built in the 18th-century style, a space for olfactory experiments and workshop.

The living room is a space where customers can rest and see artwork and decoration items that pay a tribute to the craftsmanship of Korea. The bathroom features a black and white checkered tiled floor and a large retro-styled bathtub. The room is highlighted with traditional Korean pottery.

Diptyque said it has seen double-digit sales growth in South Korea annually since Shinsegae International secured the domestic sales rights in 2017. According to Euromonitor, South Korea’s perfume market reached US$491.6 million in 2019 and is expected to exceed $532 million next year.

March 24, 2022

Tencent posts slowest-ever sales rise; regulation impact set to ease

Chinese social media and gaming giant posted its slowest ever growth since going public in 2004. The company grew just 8 percent in the fourth quarter. This is reflecting regulatory scrutiny which has affected has hurt its gaming and advertising sales.

China has frozen game approvals since August last year and curtailed gaming time for under-18s, part of Beijing’s move to strengthen control over its society and industries including technology, after years of unbridled growth.

This has also led to a slowdown in advertising as businesses have cut spending.

Tencent Holdings, which gets much of its revenue from gaming and develops games such as ‘Honour of Kings’ and ‘Call of Duty Mobile’, said domestic gaming sales grew 1% in the quarter ended Dec. 31.

The restrictions on minors were effective as the total time spent by minors on its games sank 88%, Tencent said, adding that the impact of this factor on revenue growth would ease later in the year.

“As we move into the latter half of 2022 it should cease to impact the revenue growth rate,” Chief Strategy Officer James Mitchell told reporters on a call on Wednesday, referring to the minor-protection measures.

Tencent President Martin Lau said regulators were still supportive of the gaming industry, adding that the company had a ready pipeline of games for when approvals resumed.

The company, which also posted its slowest ever annual revenue growth at 16%, said revenue in its online advertising business fell 13% in the fourth quarter.

It expects its ad business to resume growth in late 2022 after companies adjust to regulatory requirements.

Total revenue rose to 144.2 billion yuan ($22.63 billion) in the quarter, below an average of 147.6 billion yuan expected by 17 analysts, Refinitiv data showed.

March 24, 2022

Leading miner fears coal shortage may affect power plants

Vietnam’s biggest coal miner Vinacomin is struggling to provide enough coal to thermal power plants due to shortage of workers and surging costs.

The state-owned company provided 6.3 million tons of coal to power plants from the beginning of the year to March 14, 31 percent short of what it promised.

One of the reasons is that half of its miners contracted Covid-19 in the first two months, and some mines saw only 20 percent of workers showing up at the end of last month.

Another reason is import value so far has met only 7 percent of that planned for the first three months, which has led to the company’s delivery of coal mixed between foreign and domestic sources falling 69 percent short of target.

The delay of the national utility Vietnam Electricity (EVN) in approving price tags for mixed coal also made Vinacomin miss opportunities to import more coal.

Now that EVN has approved the price tags, the miner has struggled to import due to surging prices globally amid the Russia-Ukraine crisis.

Vinacomin also said that many thermal plants tend to buy coal from other sources when their prices are low, and only buy from it in surging amounts when its competitors raise prices, which make the miner struggle to fulfill its commitments.

It requested the Ministry of Industry and Trade to order thermal plants to purchase according to contracts.

The company also proposed that the government increase coal prices, as dwindling resources has made mining more costly, while coal prices for power plants have remained unchanged for the past two years, dragging the company’s profit down.

Vinacomin estimates that it would lose VND1.39 trillion ($60.76 million) in coal mining this year.

Coal-fired plants accounted for 43.6 percent of total power generation in February, according to EVN.

March 24, 2022

The Technologies that Changed Online Casino Gaming

According to Statista, the global online gambling market is expected to grow to more than $92.9 billion by 2023. As of 2021, the total market size is valued at $59 billion, meaning the industry’s size will double in the next few years. So, what sustains the popularity and growth of the online casino industry? Aside from the growing interest from experienced and casual players, the casino’s popularity is due to new technologies and innovations. With new technology and innovations, players enjoy better, lucrative, and more immersive games. Here’s a look at the best technologies that redefine the online gambling landscape.

Mobile gambling and mobile casino apps

The use of smartphones to play online casino games is not new. But the current generation of casino apps offers players a more immersive mobile casino experience. Using these apps, players can enjoy a wide range of games from slots, table games to live dealer selections. Also, players can now choose between native apps and web apps. Both work on phones that run on the latest iOS and Android operating systems.

AR and VR technologies that improve players’ engagement

Augmented Reality (AR) and Virtual Reality (VR) are popular technologies that improve the overall casino experience. With these technologies, players enjoy ultra-realistic images and sounds for an immersive experience. A VR allows a player to enter a virtual casino, navigate the virtual game landscape or even enjoy the games with other players.

Netent is one of the pioneers in the industry that invested in technology through its Gonzo’s Quest VR. Introduced in ICE Totally Gaming in London in 2017, this VR-powered game is an improvement on the classic Gonzo’s Quest online slot. Instead of a passive player, this game lets a player enter the virtual world and join the playful Gonzo in search of the lost gold. Aside from slots, these technologies are now used in designing poker and blackjack tables.

Blockchain technology and the rise of cryptocurrencies

If there’s one technology that’s been dominating the internet right now, then it’s cryptocurrency. Whether it’s in investing or in business transactions, these digital currencies reshape online payments. Blockchain technology is a distributed database that’s shared among nodes in a computer network. It stores information in digital format and serves as the backbone of the most popular cryptocurrencies today such as Bitcoin and Ethereum.

With blockchain technology, digital currencies enjoy a secure and decentralized record of transactions. These are the primary reasons why many casinos today welcome and accept cryptocurrencies. By using Bitcoin, Ethereum, or other cryptocurrencies, players can enjoy fast, secure, and instant transactions in an online casino. Thanks to its utility, you players can now find crypto-focused casinos. Its adoption also gives rise to the popularity of provably fair online casino games. These are casino games that run on blockchain and guarantees players the transparency of results.

Numerous safe and reliable payment methods

Another development in casinos is the introduction of safe and reliable payment methods. Players can still rely on traditional payments like credit and debit cards and bank transfers, but newer ways to send cash are changing the dynamics. In top online casinos, it’s now common to find several leading e-wallets like Skrill, Neteller, and PayPal. As mentioned, another important innovation is the blockchain technology that paves the way for Bitcoin, Ethereum, and Litecoin. These digital currencies rely on peer-to-peer networks and not influenced by governments and Central Banks. Digital currencies like Bitcoin are known for their fast, instant, and secure casino transactions.

New technologies mean improved user experience

Online casino gambling becomes more entertaining with the use of new technologies and innovation. The games’ graphics and visuals are improved, and the math is solid. Also, these new technologies improve the players’ access to games, allowing them to enjoy these in different ways. It’s now possible to enjoy these casino games across devices and playing against a human dealer in real-time is now a reality.

In short, both the casino players and operators are the winners in an industry that’s dominated and improved by new technologies. Casinos can leverage these technologies to boost their bottom-line, and players enjoy an improved user experience while playing for jackpots!

March 23, 2022

CompAsia Opens Latest E-Store In Singapore As It Champions The Recommerce of Mobile Gadgets in Southeast Asia

There is a new global movement in recommerce, which celebrates the trading of preloved items that extend the lifecycle of these items thus promoting sustainable and responsible consumerism.

CompAsia, which is championing the recommerce of mobile gadgets in Southeast Asia with unrivalled success in Malaysia, is inviting more customers to consider purchasing second-hand gadgets such as smartphones, laptops, and smartwatches with the opening of new e-stores in Singapore and Thailand, and the promise of high-quality products at affordable prices.

“We have seen an exponential growth of 2,500% in our e-store business in Malaysia over the last two years largely driven by movement restrictions that amplified the convenience of doing business on the CompAsia platform, and the assurance that we only trade in original products and we offer the highest quality second-hand gadgets,” said Julius Lim, Founder and CEO of CompAsia, which currently operates in nine markets in the region.

“Customers trust that we are giving them excellent prices both when buying back their devices and selling them preowned ones on our e-stores,” he said, adding that CompAsia’s 32-step quality check that every device goes through, along with the secure data erasure to protect both buyers and sellers alike have also proven to be leading reasons for its growing customer base.

With deep expertise in the device business, CompAsia provides access to high-quality devices that are backed by responsive after-sales service support, unlike anything you’ll find in regular C2C platforms or second-hand phone retailers. To date, CompAsia has sold over 500,000 devices globally and continues to ramp up sales at a blazing pace.

“The network upgrading from 4G to 5G is further pushing the sales of smartphones and customers are actively looking for the best deals and reliable trade-in options, which is why we are already seeing increased traffic to our new e-store in Singapore,” Julius said.

CompAsia.sg, which promises always affordable prices, is offering customers in Singapore an additional 5% discount on all devices as an opening special till 30 April 2022 that translates to almost S$300 off on its highest priced items. Customers will also enjoy CompAsia’s three-month free warranty (extendable up to 24 months) and next day shipping. Payment options in Singapore are supported by GrabPay, MasterCard, Google Pay, Zip, PayNow and Visa.

“CompAsia is changing customers’ mindsets in buying second-hand gadgets as we are giving them the very best quality in each item and making every brand accessible to everyone,” Julius said. “When you buy on a recommerce site, you are not only extending the lifespan of the item, but you are also diverting waste from landfills, which means a healthier planet.”

March 23, 2022