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  • HDBank reports $227 mln profit in first half

    HDBank reports $227 mln profit in first half

    Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has announced business results for the first half of 2022 with profit before tax of VND5.304 trillion ($227.25 million), up 26.5 percent year-on-year.

    First-half profit completed 54 percent of the annual budget. The parent bank’s fee income rose 113 percent year-on-year while the separate NPL ratio was 0.93 percent.

    In the second quarter, all key performance indicators rose significantly. Consolidated total operating income in the second quarter reached VND5.582 trillion ($239 million), up 31.2 percent year-on-year. Profit before tax reached VND2.776 trillion, up 32.6 percent year-on-year.

    Total operating income reached VND10.704 trillion, up 27.1 percent year-on-year, in which net interest income rose by 25.8 percent, and non-interest income, by 32.6 percent year-on-year. Bancassurance and other cashless payment services achieved growth with net fee income double that of the same period last year.

    HDBank has implemented technologies to improve productivity and enhance risk management, resulting in the modest increase of 19.4 percent year-on-year in operating expenses. Cost-income ratios improved to 37 percent from 39.4 percent a year earlier. Profitability ratios including ROAE and ROAA were 25.6 percent and 2.24 percent respectively, both higher than those last year.

    Prudential ratios are at healthy levels with CAR (under Basel II) reaching 14.9 percent – the market-leading level. The parent bank’s NPL ratio was 0.93 percent while its loan loss reserve ratio reached the comfortable level of 109 percent.

    HDBank is implementing a plan to raise charter capital as approved by AGM by issuing about 503 million shares to distribute 2021 dividend by stocks, at the payout ratio of 25 percent. Upon completion, charter capital will increase to VND25.303 trillion from VND20.273 trillion. The re-investment of retained earnings into the bank’s business activities will further strengthen the bank’s financial capability, preparing it for strong business growth and profit generation according to the strategy approved by shareholders.

    As of June 30, total mobilized funds exceeded VND340 trillion. Total consolidated lending reached over VND245 trillion, up 14.8 percent from that of Dec. 31, 2021. Customers including those in rural areas, exporters, supply chain clients, household businesses, micro-businesses and those eligible for green finance programs all enjoyed HDBank’s favorable lending programs.

    HDBank is also paying great attention to its corporate social responsibility. The bank collaborated with Tuoi Tre (Youth) Newspaper to launch a cashless payment fair for workers in industrial zones, providing them with the chance to experience cashless payment solutions and online account opening.

    HDBank also contributed to the financing of gratitude house construction to honor and show appreciation to families who made great contributions to the revolution, supported localities vulnerable to floods and storms in central Vietnam, and awarded scholarships to underprivileged students who achieved good performance at universities.

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  • Hypebeast opens its first Hypegolf store in Japan

    Hypebeast opens its first Hypegolf store in Japan

    Lifestyle brand Hypebeast has collaborated with Jun Co, an apparel and lifestyle creation company, to launch the first Hypegolf store in Sarugaku-Cho Shibuya-ku, Tokyo, Japan.

    With nearly 50 years of experience in the field of golf, Jun Co claims it was intrigued by the Hypebeast’s fresh viewpoint and cutting-edge capacity to convey a respect for traditional golf, through the introduction of Hypegolf’s Instagram.

    The Hypegolf Japan store, according to Hypebeast, is situated in the centre of Daikanyama and acts as a hub for learning about golf through the company’s cultural perspective.

    The store has two floors and has about 85sqm of retail space. It offers a variety of golf accessories from top sportswear and lifestyle companies like Hookedgolf, Cavy, No 33, and The Original Tee Pick, as well as the unisex Hypegolf line.

    Hypebeast says the location is a retail platform for up-and-coming golf brands that do not yet have a physical presence in Japan, providing an opportunity to display all aspects of the game.

    This will be also the home of the first Hypebeans cafe in Japan, which is a result of the friendship between Hypebeast’s founder and CEO Kevin Ma, and world-renowned barista Hiroshi Sawada.

    “Complementing our well-established Hypegolf online community and e-commerce platform, we want to bridge our online cultural hub with an immersive offline experience to discover the joy of golf at our newest Hypegolf and Hypebeans location in Japan,” said Kevin Ma, CEO and founder of Hypebeast.

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  • Banks hike mortgage interest rates

    Banks hike mortgage interest rates

    Several banks have increased mortgage interest rates by up to 1 percentage point amid credit tightening.

    In mid-June Vietcombank hiked its from 9.2 percent to 9.8 percent for the first three years.

    At least three other banks have increased its rates.

    United Overseas Bank has raised its rate from 6.49 percent to 7.69 percent.

    Vietnam International Bank has adjusted its rate up by 0.2 percentage points since last month to 8.7 percent.

    Bank managements said the pressure of rising deposit interest rates and tightened credit has forced them to hike loan interest rates.

    Trinh Bang Vu, head of retail lending at Shinhan Bank, said since there is little room left for lending this year and the State Bank of Vietnam has not increased quotas, banks have to be selective in their loans.

    Some lenders like Orient Commercial Bank have not yet increased their mortgage rates, but expect to do so by 0.1-0.2 percentage points in the next few months.

    SSI Securities analysts expect home loan interests to continue to rise even if new credit growth quotas are announced.

    KB Securities analysts forecast a 0.4-0.7 percentage point increase in rates this year due to inflation.

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  • Airfares soar on summertime travel demand, fuel price hikes

    Airfares soar on summertime travel demand, fuel price hikes

    Flight tickets to domestic destinations have become pricier than holiday fares, with rising global fuel prices adding fuel to high summer travel demand.

    For the past two weeks, Hoang Viet, who lives in Hanoi’s Ha Dong District, has been checking flight ticket prices constantly so he can fly to Ho Chi Minh City and visit his relatives.

    However, he hasn’t been able to find fares that he can afford.

    “If my family flies this month, it will take at least VND10 million ($426.35) for three people,” he said.

    A round trip between Hanoi and HCMC costs VND3.4-6.2 million for economy class, with the lowest price range offered by budget airlines like Vietjet. The low prices are usually for flights that leave or arrive very early in the morning or late at night. The base fares for Vietjet and Vietravel do not include check-in baggage.

    The higher fares on the route are charged by Vietnam Airlines.

    Current ticket prices are already higher than the VND2.5-4 million range during the Lunar New Year holiday earlier this year.

    Summertime travel demand has hiked fares to popular travel destinations including coastal towns. For example, a round trip between Hanoi and Nha Trang in the central coast costs VND3-6.7 million for the latter half of July.

    A round trip between Hanoi and Quy Nhon costs around VND2.7-5 million; while one between the capital city and Con Dao Island off the southern coast in the last week of July can cost as high as VND10 million.

    Ticket prices will tend to drop in August, industry insiders said.

    Tickets for international trips have also become expensive this summer. For the latter half of this month, a Hanoi-Bangkok round trip starts at VND5.5 million, and a Hanoi-Singapore round trip at VND5.3 million. Before the pandemic, passengers could easily purchase tickets for similar flights starting at VND3 million.

    Direct flights from Vietnam to Europe in September and October are also expensive, with a HCMC-Frankfurt trip starting at VND24 million, and a Hanoi-Paris trip starting at VND40 million.

    A representative for Vietravel Airlines said the high prices were necessary to cover costs.

    “Summertime is considered a time to make up for periods of low travel demand from August to November. It is simply a matter of revenue management and making sure our operations are stable,” the rep said.

    Despite a quick recovery by domestic aviation and ongoing high prices, some carriers still want price ceilings expanded, saying the current ones are no longer appropriate. This is needed also because of rising world fuel prices, they argue.

    A Vietnam Airlines representative said current price ceilings were based on fuel costing around $80 a barrel, but actual prices are at around $140 a barrel.

    A Bamboo Airways rep said the aviation industry should not be held back by price ceilings and it was better to allow the market to decide prices.

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  • Australia’s Venroy opens its first store in Europe

    Australia’s Venroy opens its first store in Europe

    In 2011, Venroy launched from Bondi Beach in Sydney with an offering of European-length swim shorts. It quickly garnered a cult following and has grown in the last decade to boast a seasonal offering of resort and leisurewear with stores also found in Melbourne and Brisbane. The printed staples, luxury knitwear and buttery linen is uniform in the eastern suburbs of Sydney so it comes as no surprise that the natural next step for the brand was Europe.

    Situated on the Mediterranean island of Capri, within Italy’s iconic Bay of Naples, Venroy has opened a seasonal concept store and its first international outpost. The beige concrete walls of the label’s local stores in Australia have been reimagined by the in-house architect, Sarah l’Anson. The store embodies the spirit of the Venroy hotel concept, playfully realised from room to room through curated furniture and objets d’art – selected for both aesthetic and function – to dynamically display product.

    Interiors are underpinned by natural materials and an understated colour palette: warm honey hues, soft whites and bold orange accents, tempered by cool, polished steel. Coir, raw canvas and timber create a sense of ease and comfort; layered for a raw, al fresco feel, these tactile and enduring textures will age well and develop character throughout the store’s lifespan.

    Coloured-glass lighting and stainless steel metalwork contrast the natural materials and elevate the space, bringing to mind the italo-disco clubs found across Italy and wider Europe during the ’70s. Meanwhile, ornate terracotta pots are featured en masse – a playful reference to the artisanal heritage of the beloved island.

    “Nostalgia is a key component of our spaces. When you walk into our stores, we want you to feel transported, we want to evoke a fond memory of somewhere you visited once and will never forget. For just a moment, we want to take you back there,” says brand founder Sean Venturi

    The space comprises of three connecting rooms. The first is an intimate, curtained dressing room featuring a mid-century modern Italian triptych dressing mirror and a linen-upholstered mannequin, lit by a vintage Harvey Guzzini Meblo chandelier lamp. Room two services retail, displaying current collections within a mid-century wardrobe, alongside a vintage hotel desk and Goffredo Reggiani table lamp. Lastly, Room three features the iconic Capri Collection, displayed in a beautiful 19th-century Austrian Biedermeier walnut display cabinet.

    In keeping with the resort theme, the building also features a secluded, sun-drenched terrace where visitors are invited to relax on lounges and enjoy an aperitif. Cin cin!

  • Odine and HORISEN Partner for SMS and Voice Solutions

    Odine and HORISEN Partner for SMS and Voice Solutions

    Odine, an award-winning global telecoms partner empowering network transformation with resilient, software-defined networks of the future, and HORISEN, a multi-award-winning SMS Platform provider specializing in feature-rich, vendor-neutral, cutting-edge messaging technology, have finalized a strategic “best-of-breed” alliance for operators worldwide.

    These two globally trusted organizations will be joining to provide their customers with a synergy of solutions and complementing expert technologies. This collaboration will result in Odine’s integration of HORISEN’s solutions for seamless billing, invoicing and reporting capabilities. The partnership will enable flexible contract management, fulfilling demands for swaps, bi-lateral deals and a more agile use of credit, ensuring a more holistic view of all traffic that encompasses both voice and SMS.

    This alliance achieves an important strategic evolution of services that effectively aligns with the changing demands of the market. As traffic trends fluctuate, operators need to adapt to accommodate the growing nature of SMS, encompassing wholesale and A2P as well as increasingly dynamic service demands.

    The technological partnership between Odine and HORISEN is truly a best-of-breed technology and service integration, facilitating the management of customers’ resources and risks. As SMS and voice markets converge, the collaboration will prove increasingly necessary in order to maintain a competitive edge in the global marketplace.

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  • India’s Lenskart buys Owndays

    India’s Lenskart buys Owndays

    India’s largest eyewear retailer Lenskart is buying an approximately 75% stake in Japanese eyewear chain Owndays.

    Lenskart will acquire all the shares held by a joint venture between an investment company affiliated with LVMH Moet Hennessy Louis Vuitton and a fund affiliated with Mitsui & co.

    The value of the deal is yet unknown.

    Owndays has around 460 stores in 13 countries and regions. Lenskart  has about 1,100 stores in India, Singapore, and other countries.

    “Under the deal terms, Owndays management will retain their stakes in the company. The management structure and store names will remain unchanged,” the report noted.

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  • Toku Steps Up Efforts to Eliminate Call Frauds in Singapore

    Toku Steps Up Efforts to Eliminate Call Frauds in Singapore

    Toku has become the first telco-service provider in Singapore, and Southeast Asia, to join the global AB Handshake Community. Asia Pacific’s cloud communications and Singapore-licenced telecom service provider, Toku is currently the leading provider of virtual numbers in Singapore, providing 60% coverage of all virtual numbers in the country.

    The Infocomm Media Development Authority (IMDA) welcomes Toku’s move to join the AB Handshake Community to proactively fight against fraudulent calls. It represents a timely intervention within the Singapore telco space. According to the Singapore Police Force, victims lost at least S$633.3 million to scams in 2021. Many of these scams relied on voice calls to dupe victims, such as banking-related phishing scams, fake friend call scams and impersonating foreign government officials.

    Findings in a new survey commissioned by Toku also revealed that out of the 1,000 respondents in Singapore, 87% have received a scam call recently, and 75% actually answered the call, with 10% of all the respondents have fallen prey and suffered monetary loss. These figures suggest that people in Singapore are still largely vulnerable to phone scams if they are not vigilant.

    “As a Singaporean company, we are committed to finding new ways of protecting the Singapore community from fraudulent calls that are affecting almost everyone. Call frauds are responsible for the loss of personal information, and the loss of billions of dollars for companies. As phone scammers are increasingly using sophisticated tactics to run their call scams, we strive to restore trust back in phone calls by eliminating fraudulent calls. As we gain momentum and work towards building a stronger, safer and fraud-free telco community, we strongly urge other telco players in Singapore to join in the ongoing efforts,” said Thomas Laboulle, Founder and CEO of Toku. “Looking beyond Singapore, we are prepared to take this initiative to the other countries in the region where we operate, starting with Malaysia and Vietnam. With the telco players in these countries on board, we would be able to ensure that 179.58 million numbers are protected from fraud calls by the end of 2024.”

    Nadejda Papernania, Founder of AB Handshake said, “We are pleased to be joining forces with Toku to expand the fraud-free global community to prevent fraudulent scam calls in the telecom industry, particularly in the Southeast Asia region. Our partnership with Toku will leverage the company’s industry expertise and in-market knowledge to encourage a growing community for other telecom players to join the community, which is an important step towards achieving a fraud-free community.”

    As the Asia Pacific region is a highly fragmented telco market, Toku is currently in discussions with other telco players and regulatory bodies to build a framework that will provide an additional layer of validation to prevent call frauds, and instil trust in the system for users and businesses to interact seamlessly without worry or concerns.

    Toku’s business in Singapore is already adhering to local telco regulations and licensing requirements. The InfoComm Media Development Authority (IMDA) of Singapore has recognised Toku as a Tier 1 Aggregator, which permits Toku to handle commercial SMS traffic. This includes anti-spoofing protocols for protected SMS.

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  • ZTE and IPMA partner for innovative project management in Philippines

    ZTE and IPMA partner for innovative project management in Philippines

    ZTE has signed an MOU (Memorandum of Understanding) on strategic cooperation with International Project Management Association (IPMA) Philippines in Manila. The strategic cooperation between IPMA Philippines and ZTE Philippines further recognizes ZTE’s mature corporate project management capability.

    This is ZTE’s first overseas IPMA corporate membership, and the company has become a corporate member simultaneously certificated by IPMA International and IPMA Philippines.

    IPMA is a non-profit international academic organization, with commitment to promoting professional development of international project management. IPMA, PMP and PRINCE2, are known as the three major international project management organizations. IPMA’s membership certification is widely recognized, representing the highest-level certification of project management across the globe.

    At the ceremony, IPMA Philippines and ZTE Philippines principally agreed on joint development and win-win collaboration. IPMA will invite ZTE to deeply participate in industry symposiums, industry forums and professional training meetings, as well as joint application for telecommunications-related awards and reviews of outstanding project management cases. In return, ZTE will give its priority to the interviewees who have passed the IPMA certification.

    “With the development of its business in the Philippines for more than 15 years, ZTE has extensive experience in project management and project delivery,” said Jin Zhichao, General Manager of ZTE Philippines. “ZTE is keen to explore and learn excellent experience and effective management approaches from different industries or IPMA corporate members, further improving the level of ZTE’s project management and corporate competitiveness. At the same time, we are willing to share our own experience with them.”

    “I am looking forward to the cooperation between the two parties. IPMA has been developing project management competencies for years, and regularly organized various symposiums and forums every year,” said Prof. Mariano Roque Senga, Chairman of IPMA Philippines. “I hope ZTE, as a leading enterprise in the field of telecommunication engineering, can participate in exploration and in-depth cooperation with other corporate members on project management approach.”

  • Mood Tea offers unique flavours with a purpose

    Mood Tea offers unique flavours with a purpose

    In times of stress or crisis, when things tend to go wrong, it’s important you let your mind relax and take it easy. So when time gets tough, may we suggest tea to rescue? It’s believed that in times of stress, a cup of tea can work wonders for your nerves. In countries like Japan and India, brewing and bonding over cups of tea is a usual practice and it ensures general well being of the family.

    It’s been quite a long journey for tea as a beverage. What started as a humble cup of regular chai has now ended up in elegantly packed designer boxes of flavored teas. Tea has become more of a lifestyle now. There’s a tea for every mood, flavor for every season. While your workout regime is incomplete without wellness and detox green teas, your winter evenings just cannot happen without a hot steaming cup of Kashmiri Kahwa or Darjeeling.

    Don’t you remember Mad Hatter from ‘Alice in Wonderland’? Even he seemed to agree that “it’s always tea-time”. A hearty breakfast with a cup of earl grey and late nights with Masala chai or Vanilla tea pretty much sums the day up. However, many of us aren’t much aware of the options of teas available. Here’s a comprehensive list of teas for all moods available with exclusive makers of flavored single origin teas.

    Tea for Moods:

    Kick-start flavours: For the times we drag ourselves out of bed and still don’t seem to be fully awake, let our good old strong black Assam tea wake you up every morning. With or without milk, it is a perfect good cup to start your day.

    Herbal De-stress: A long day at work, the fever and fret, leave you tired and stressed. Nothing can be more refreshing than a hot shower followed by a cup of warm de-stress relaxing tea. Jasmine tea and refreshing lemon -ginger herbal infusion work on stress and calm your nerves like magic!

    Mood Lifters: Didn’t have a good day at work? Upset over a job not done? Rejuvenate with tea and start anew! Spicy chilli tea, lemon tea and masala chai are great mood lifters. They give you just the right push to get things done.

    Weekend Detox: After a long hard week, a crazy weekend is the least you can ask for. But what about the Sunday morning hangover? Nevermind because we do have a tea solution for that as well. The goodness of organic green tea not only detoxes you but also increases your metabolism. The antioxidants found in herbal green tea play an important role in keeping your natural immunity in place.

    Post Workout: And ofcourse, for the fitness freaks. How can we forget that your workout ain’t complete without a cup of weight-loss tea to mark the finish! A cup of green tea with a tinge of honey can work wonders for your weight loss program.

    Sleep well: Last but not the least, when you go to bed, teas that ensure you sleep well. Try out sleepwell carrot orange multivitamin herbal infusion or relaxing pomegranate orange herbal infusion to relax you before going to bed.

    When nothing else seems to work, keep calm and settle down with a cup of steaming tea and let your mind figure out a way.

  • A Swiss Crypto Lender Partners with Major US Bank

    A Swiss Crypto Lender Partners with Major US Bank

    Zurigg-based crypto lender Nexo is looking to take advantage of the consolidation in the crypto world. With help from a US bank, it sees itself as financially well equipped to take over the assets of struggling competitors.

    In what is increasingly looking like a repeat of the consolidation of companies following the burst of the dot-com bubble,  quite a few crypto companies are unlikely to survive the current crash or at the very least have been severely hobbled in the wake of the collapse. Other companies, however, will emerge stronger from the crypto winter.

    Zug-domiciled crypto lending platform Nexo plans to provide liquidity during the current market turmoil by acquiring the assets of struggling crypto companies. In doing so, it intends to play a key role in the upcoming consolidation of the blockchain space.

    To that end, the crypto platform is enlisting support from a major US bank. In a blog post, Nexo announced that the company is being advised by banking giant Citigroup. Acquisitions are expected to help crypto investors regain access to blocked funds. Nexo is already in contact with a number of troubled crypto companies and has offered them various options for help.

    Celsius, which is threatened with insolvency and suffering from a huge liquidity crisis, recently froze withdrawals and transfers between accounts as a result of cryptocurrencies’ rapid downward slide. According to media reports, Celsius is also seeking help from Citigroup, last week having hired the bank to advise on possible financing.

    To paraphrase Shakespeare, for many firms this is the winter of their crypto discontent.

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  • New CarPlay Update Is Classic Apple Before It Invades A New Product Category

    New CarPlay Update Is Classic Apple Before It Invades A New Product Category

    The funny thing about Apple’s World Wide Developer Conference (WWDC) was that the most interesting piece of software the Cupertino-based giant showcased may not reach the hands of consumers till 2024. And no, it isn’t the much-talked-about VR and augmented reality headset it has been working on. It is the new expanded version of CarPlay it showed off which showcased a wild new interface for cars that extended beyond the infotainment screen to the instrument cluster.

    Apple says that this new CarPlay will show up in partner cars in late 2023. It lined up a show of force with brands like Mercedes Benz, Volvo, Volkswagen, Audi, Porsche,  Honda, Ford, Jaguar Land Rover and Renault. But when some of these brands were asked independently, it seemed that they didn’t know much about what Apple was doing and sounded cagey about confirming or denying that Apple’s new CarPlay would show up in their product line in the future.

    Apple’s gambit is also one that is predicated on the iPhone remaining the centre of the experience. The Volkswagen group on some level has made a tacit admission that its clientele is an iPhone crowd. That’s why the deep integration with Apple Music has been added to Porsche and Audi models while audio streaming services like Spotify and YouTube Music have been left behind in the dust. But this is also a scary proposition for auto companies as it creates a layer of dependence on a tech giant like Apple which seemingly has unlimited resources.

    Tesla has famously left both Apple and Google out of its infotainment experience. But then there is pragmatism at places like Ford and Volvo who have wholeheartedly adopted Google’s Android Automotive embedded OS for cars. They believe that Google is better at software and they could save the extra cash as they spend the next decade during a once-in-a-lifetime power train transition towards electric.

    However, in the case of Google, Android Automotive is at the heart of the car and is not beamed off an Android phone. OEMs get a say in what apps are being approved. For instance, the Vivaldi browser is on Renault and Polestar cars with Android Automotive but not in the Volvo XC40 Recharge.

    Apple’s interface doesn’t look just gorgeous and simple – more so than what Google has cooked up, but it will be also very private following one of the principles of the Tim Cook-led gadget-making titan. This would scare the bejesus out of an automaker as not a lot of data would be forthcoming. Apple could leverage the App Store on the iPhone to extend apps to the car via CarPlay which would help it create a bigger and better store faster. This would entrench a carmaker’s dependence on Apple.

    Already CarPlay and Android Auto have become table-stakes as phone beaming technologies. But they also visually break the experience one has in the car. Even with the latest lot that features digital instrument gauges – even on the best of the best – the Mercedes S-Class, you see MBUX that looks like something from the mid-2000s designed for Windows and then when you turn on CarPlay you see a simple and functional UI. Apple extends that elegance with the new CarPlay with gauge clusters designed using the ideas from the Apple Watch complications and widgets for iOS.

    Siri may not be as good as the Google Assistant but remains light years ahead of anything an automaker has including the “Hey Mercedes” voice command in the new C-Class and S-Class. Apple will certainly be able to enhance Siri and basically help decimate any of these software ventures that Mercedes and some of the European automakers are developing. No wonder, Mercedes hasn’t come out wholeheartedly and said that “we are adopting the new CarPlay”.

    Apple hasn’t revealed much about any specific hardware requirements. In fact, Apple says that this new system can scale to multiple screens and sizes seamlessly. Apple has shown a penchant for supporting multiple screen sizes and resolutions better than Google with less fragmentation in the user experience, but it will come with some strict hardware requirements something the company isn’t talking about right now. This is a technical eventuality.

    All of this also is also in line with how Apple enters a new product space. It does a taster. It launched iTunes before the iPod. It partnered with Motorola for the iPod phone before the iPhone. It spent more than a decade perfecting its own designed semiconductors before it added it to the Mac a year and a half ago. Likely, it will do the same with AR and VR with iOS and all of its platforms being ready for the technology for now more than five years since when AR Kit was launched.

    It is perhaps the auto industry’s worst-kept secret that Apple has been developing an electric self-driving car. It has been a rocky journey which has a number of executives coming in and leaving the tech giant. Now with operations of the Apple Car being under the care of John Giannandrea and Kevin Lynch – the leads for AI and Apple Watch, the new CarPlay shows signs of their touch quite succinctly.

    But with an actual Apple Car still, years away or perhaps a pipe dream like the so-called Apple TV that many expected after the death of Steve Jobs, this new CarPlay is certainly a way for Apple gets a hang of the auto industry – what works, what doesn’t. It also gets a consumer touch point and potentially it could be another hook for revenues either by licensing this interface to automakers or through App Store fees or both.

    It also flexes why Apple’s software chops are far beyond any automaker perhaps outside of Tesla. If this works – everyone wins – but in the long run, if Apple is able to get its self-driving car project off the rails, then this could also mean trouble for everyone who adopts it. But automakers also don’t have much choice here – they aren’t as good as Apple or Google with software and nor are remote as cash-rich as the two. At the same time, their lunch is being had by Tesla quarter by quarter as the world increasingly moves towards electric cars, so they can best hope – Apple doesn’t have their breakfast, lunch and dinner with this invasion via CarPlay.

    And oh, while this happens, Apple is continuing to develop the basic phone beaming CarPlay. So either way, Apple wins and the iPhone remains the centre of yet another experience.

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  • Vietnamese lychees aim to expand global footprint

    Vietnamese lychees aim to expand global footprint

    The “Vietnamese lychees go global” forum was held on June 16 to promote lychee exports and take the brand name of the Vietnamese fruit to the next level.

    Vietnamese lychees have made a name for itself in many international markets. According to Le Hoang Tai, deputy director of the Trade Promotion Department, Ministry of Industry and Trade, China accounts for 91 percent of Vietnam’s total lychee export volume. Other markets include Japan, Korea, Australia and the United Arab Emirates.

    Hai Duong, home to Thanh Ha lychees, currently has over 9,000 hectares under cultivation, producing 60,000 tons of lychees every year, of which 50 percent is consumed domestically, 40 percent is exported to traditional markets, and 10 percent to high-end markets including the U.S., Japan, and EU.

    “We aim to build a global brand of high-quality lychees,” Tran Van Quan, vice chairman of Hai Duong Province People’s Committee, said.

    Bac Giang, another leading area for lychee production, has 28,000 hectares of lychee-growing land, providing 25,000 tons of lychees exported to 30 countries. Most meet VietGAP and Global GAP standards.

    “The province will continue to boost lychee exports to high-end markets, and new markets including Canada and Thailand,” Phan The Tuan, vice chairman of Bac Giang, said.

    Palestinian Ambassador to Vietnam, Saadi Salama, said: “Lychees have gradually become the pride of Vietnam.”

    George Burchett, a journalist from Australia, said: “Lychees are both eye-catching and delicious, suitable for everyone’s taste, not only contributing to Vietnamese exports but also enhancing Vietnam’s image to the world.”

    Pham Van Dung, director of Hong Xuan Cooperative, Bac Giang, admitted that the preservation process is one of the challenges for Vietnamese lychees. “Ripe lychees that have not been consumed yet need more intensive solutions like freeze-drying or high-tech drying, so that there are still products for the market even when the harvest ends,” said Dung.

    Director of Toan Cau Company, Nguyen Duc Hung, admitted that Vietnamese enterprises focus on exporting fresh lychees, but fresh lychees can be preserved for 40 days at most, “so it is difficult for lychees to reach far-flung markets.”

    He suggested new products like frozen lychee, with long-term preservation capacity, should be offered so that the fruit could reach global customers with diverse tastes.

    The Palestinian ambassador noted Vietnamese lychees are facing difficulties in reaching far-flung markets because of logistics. “In a short time of two months, to export lychees to global markets in fresh conditions is a challenge.”

    He suggested agencies prepare in advance to facilitate lychee transportation.

    Tai of the Trade Promotion Department recommended that while aviation costs are high, lychees should be transported via railways to cut costs and avoid delays in shipment, which takes about only 15-21 days.

    Salama said that products on sale in the Middle East normally have Halal marks on their packages as a sign of a trustworthy or superior product. He hoped that more Vietnamese lychee products are Halal-labelled to reach consumers here.

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  • Bamboo Airways awarded best cabin crew, most improved airline in Asia

    Bamboo Airways awarded best cabin crew, most improved airline in Asia

    Bamboo Airways won the “Best Cabin Crew in Asia” and “Most Improved Airline in Asia” awards at the PAX Awards 2022 ceremony in Hamburg, Germany.

    PAX Awards 2022 was held on June 15 (Hanoi time) by the Canadian leading magazine covering cabin services industry PAX International.

    Truong Phuong Thanh, deputy general director of Bamboo Airways, said: “PAX Awards 2022 provides precious recognition by domestic and international customers and experts of Bamboo Airways’ efforts in upgrading service quality. We see this as a great motivation and encouragement to gear up our roadmap towards 5-star oriented services that we have determined to achieve since the earliest days.”

    PAX Awards is held annually by PAX International magazine based on online voting from around the world. PAX Awards is recognized among prestigious aviation awards honoring excellent service quality and development efforts of the world’s leading airlines and aviation service suppliers.

    This year’s ceremony was held within the framework of World Travel Catering and Onboard Services Expo – WTCE 2022 and Aircraft Interiors Expo – AIX 2022.

    At the previous PAX Awards ceremony, many prominent names in aviation including Qatar Airlines, Air Canada, Emirates Flight Catering… were honored for Outstanding Food Service by a Carrier, Airline Caterer of the year, Best Inflight Duty Free Program, Best Cabin Interior Experience and Best Lounge.

    Bamboo Airways has transported over 10 million passengers safely and led on-time performance across the Vietnamese aviation industry since its establishment.

    Adding to PAX awards, Bamboo Airways continues to grow its footprint in this key market with the launch of a second regular nonstop route to Germany from June 16, connecting Ho Chi Minh City and Frankfurt with one return flight per week.

    With this nonstop service, Bamboo Airways is showing determination in gearing up international network expansion in general and route operation to Europe like the U.K., Germany…in particular. The airline targets a network of 120 routes, including 40 international routes in 2022 to meet heavy travel demands after pandemic.

    The airline has been focusing on methodical training for cabin crew in 5-star service orientation. Bamboo Airways also constantly organizes many global events to recruit flight attendants, attracting a large number of potential candidates from many countries, thus adding qualified personnel and creating opportunities for passengers to experience 5-star oriented services.

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  • Apple supplier eyes Vietnam expansion

    Apple supplier eyes Vietnam expansion

    Apple iPhone assembler Pegatron Corp emphasizes its expansion in other countries, including Vietnam, to reduce its dependence on China following the strict Covid-19 lockdowns there.

    “We faced Covid controls for two months. We couldn’t have assessed that in advance, so that makes me emphasize our expansion in Vietnam, India, Indonesia, and North America, Liao Syh-jang, as saying at the company’s annual general meeting in Taipei Wednesday.

    The company is seeking to address labor shortages and the gap between peak and low seasons and increase capacity utilization, he said.

    Pegatron is one of Apple’s three iPhone suppliers along with Foxconn and Wistron.

    In April, the Taiwanese company suspended operations at its Shanghai and Kunshan plants in China due to strict Covid-19 protocols, impacting production and deliveries.

    China has since lifted the restrictions, but still faces a labor shortage that was sparked by the restrictions.

    Chairman T.H. Tung said the company’s customers had “different reasons” for setting up factories in Vietnam, India and Mexico.

    “But one shared factor is the ability to reduce concentration in Shanghai, Suzhou and Chongqing.”

    He added that hiring staff in China has become increasingly difficult over the past seven to eight years.

    Pegatron has mulled expanding to Vietnam since 2020, and is building a factory in the northern city of Hai Phong.

    Several Apple suppliers already have factories in Vietnam, including Foxconn, Luxshare and Goertek, and mainly make AirPods earbuds and HomePod speakers.

    Earlier in June, China’s BYD, one of the leading iPad assemblers, had helped Apple build production lines in Vietnam and could soon start to produce the tablet there.

    It attributed the move to China’s lockdown in and around Shanghai, which disrupted the supply chain for months.

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