Tag: asia

  • Thai AirAsia back flying to Colombo

    Thai AirAsia back flying to Colombo

    AirAsia Thailand (FD) celebrated its inaugural flight, Sunday, flying from Bangkok (Don Mueang) to Colombo, the capital city of Sri Lanka.

    Operating the direct flight four times a week (Monday, Wednesday, Friday and Sunday) the low-cost airline uses an A320 on the route with 180 seats.

    FD140 de departs Bangkok Don Mueng Airport (DMK) and 1945 and arrives in Colombo at 2200. FD141 departs Colombo at 2300 and arrives in DMK at 04005 on the following morning.

    Booking website Kayak quotes a one-way Bangkok (DMK)-Colombo (CMB) on AirAsia at USD107. Roundtrip fares between the two cities average USD470 based on prices quoted by Thai Airways International and SriLankan flying between Bangkok (BKK) and Colombo (CMB) is more than double AirAsia’s roundtrip fares (DMK-CMB).

    Sri Lanka is a major destination for Buddhist faithful from across the globe as it is home to numerous well-known religious locations, many registered as World Heritage Sites, the best known of which is the Temple of the Sacred Tooth Relic in the city of Kandy.

    Other attractions include the forest-enveloped Sigiriya, often called the Machu Picchu of Asia due to its remote location. For other leisure seekers, Sri Lanka offers pristine nature experiences along the train route from Kandy to Ella, considered one of the most scenic train rides worldwide as it carves through valleys and tea fields. Tourists are usually drawn to the Ceylon tea plantation to learn about the process and enjoy a cuppa. Dimah is the most famous tea brand and offers tours with a tasting session at the plantation’s estate in the hill country of Nuwara Eliya.

    Marking the resumption of the route post-pandemic, AirAsia offers a promotional fare from Bangkok (Don Mueang) to Colombo, Sri Lanka, pegged a THB2,990 one-way (USD85). Bookings are open until 16 July 2023 for travel from 9 July to 28 October 2023 via the AirAsia Superapp.

  • Middle-aged workers struggle finding new jobs after layoffs

    Middle-aged workers struggle finding new jobs after layoffs

    Thanh Tung thought his job interview went well and his unemployment would finally end, but he was eventually turned down for the position because he was “too old.”

    The 37-year-old game artist in Go Vap District, HCMC was laid off at the beginning of the year, only a few months after he started working for a game design company.

    He was disappointed, but he didn’t feel rushed and pressured because he still had savings and income from his freelancing jobs, which he thought would be enough to cover his living expenses until he found a new job.

    But finding work was not as easy as he thought.

    After three months of job searching, he’d been able to land only a few screening calls and no potential employer had wanted to make an interview appointment with him. Compared to that, around 60% of the companies he applied to last year scheduled interviews with him.

    When he eventually got an interview with a game company, he was turned down because of his age. The chief marketing officer of the company, who was 27, said people of Tung’s age might “be stubborn and find it hard to adapt.”

    He disagreed with this comment, explaining that he was always willing to improve himself, and he could prove that during a probationary period, to which the interviewer said: “You seem to disagree with a lot of things we have discussed throughout our interview. I’m afraid that if we work together, you will not follow my orders.”

    Tung gave up. He now believed in age discrimination at the workplace. And future experience only confirmed things further.

    “Then I got a phone call from a friend of mine who was working as a headhunter,” he says. “That friend saw my profile and confirmed that my age was preventing me from getting called for interviews.”

    Many middle-aged workers are struggling to find jobs. Tra My, a former construction engineer, said she felt hopeless as she had been unemployed for over six months and had to attend a job fair as one of her many efforts to find a career opportunity. She also said she was learning a foreign language and studying software at age 45, hoping that doing so would increase her chances of finding a job.

    Van Quang, 53, was working as a delivery man for a third the salary of his previous job as a warehouse supervisor at a Hanoi-based supermarket. He chose the path after repeated failed attempts looking for vacancies similar to his former positions.

    Thanh Hien, 45, said that all of the job announcements she came across were looking for applicants under 35 only.

    Hien had never thought she would have to search for a job, as she had always worked at a state-owned company. But in March, her employer’s business problems forced Hien to get laid off.

    Hien tried to bargain by offering to cut her salary down to VND5.6 million (around $237), a third of what it had been.

    “But the company insisted on cutting down on middle-aged workers,” she recalls. “They asked me to sign another contract, in which my position was changed from an accountant to housekeeping staff.”

    Hien told the company she would consider the offer. She hadn’t even given her final decision yet when the company informed her they would lower her salary from VND5.6 million to VND4.9 million. She had no other choice than to quit.

    Age is one of the strongest barriers for those working in Vietnam. Among the job announcements by the 36 companies at the fair, 41% of them targeted the 18-25 age group and 35% targeted the 26-35 age group, compared to 24% targeting the 36 and over age group.

    There have been ongoing factory workers layoff in southern Vietnam, starting late-2022. According to data, the majority of the workers laid off were middle-aged females. For example, over 50% of those laid off at the HCMC-based company Pouyuen were over 40 and around 60% of them had worked at the company for at least 10 years.

    Responding to a survey conducted late-June, as many as 90% of the respondents answered “Yes” to the question: “Do you think workers aged between 35 and 40 in Vietnam struggle to get a job?”

    Pham Minh Huan, former deputy minister of Labor, Invalids and Social Affairs, considers age discrimination at workplaces a downside of the market-oriented economy, in which businesses have to optimize their human resources to maximize their productivity and minimize their costs, which in turn makes aged low-skilled workers the first target to be laid off.

    “Aged workers tend to have lower productivity while requiring higher salaries,” Huan explains. “Businesses that revolve around financial reward are likely to lay this group of workers off, even if they have contributed to the company for a long time.”

    Nguyen Phuong Mai, former CEO of Navigos Search, a recruiting service in Vietnam, says employing middle-aged workers has both strengths and challenges. On the one hand, employers don’t have to spend too much on training costs and could be able to make use of these workers’ experience. On the other hand, middle-aged employees may be less creative, less flexible, less familiar with technologies, and less likely to blend in with co-workers of younger generations.

    Mai says a story which she will never forget: “I once worked with an outstanding applicant who met all of the requirements that the company was looking for.”

    “But he still got turned down, as throughout his whole career up until that moment, he had worked for one company only, which was considered a sign that it may be hard for him to adjust and adapt.”

    Experts suggest that workers have to constantly improve their skills and be ready for every possible scenario regardless of their age, in order to be able to grab opportunities that come to them.

    Huan also says the government should create a varied labor market, so that middle-aged people could change their jobs more easily if they are laid off.

    He suggests businesses appreciate workers that have dedicated their youths to the companies and treat them with respect, including avoiding sudden layoffs without any kind of compensation.

    “Middle-aged people may find it challenging to start over, but that doesn’t mean it’s impossible,” he says.

    Tung’s recruiter friend pointed out things he needed to change in his Curriculum Vitae, including removing his year of birth and irrelevant degrees while emphasizing more his practical skills.

    He was also suggested to reply “I want to be an employee till I retire” when interviewers asked about his career goal, instead of showing his determination to achieve a leading position.

    Tung indeed got more calls for interviews after adapting his application documents based on his friend’s suggestions. His unemployment period ended in May. He now works for a foreign company that he says “values skills over age.”

    Hien is still looking for a new job. She says if things do not work out, she will consider lowering her requirements regarding salaries and benefits.

  • Australia, Germany replace Japan as Vietnamese’s labor hot spot

    Australia, Germany replace Japan as Vietnamese’s labor hot spot

    Tu worked in Japan for two years but left when the devaluing yen lowered the value of his savings, which he intended to use back home in Vietnam

    He eventually set his eyes on Germany.

    The reasons were quite simple: Germany was experiencing a lack of labor resources and was employing measures to attract more foreign workers, including more open visa policies and attractive salaries.

    As Germany’s labor minister Hubertus Heil said earlier this year, the country would lack around 7 million workers by 2035 “if we don’t do something.”

    So Tu was there ready to answer the call. “This time I want to challenge myself in Europe,” he said.

    The 30-year-old man was one of many Vietnamese workers who left Japan after finding their earnings there not attractive anymore. It was essentially a double consequence of the dropping value of the yen and rising inflation.

    Inflation in Japan hit a 40-year-high last October, and consequently, the price of everything from fuel to food rose, and many people could not afford essentials in their daily lives, reported Reuters.

    But rarely are workers who’ve returned home from Japan satisfied with their earnings in Vietnam either. Instead, they are now often opting to relocate to Europe or Australia, which are both taking bold government steps to compensate for their lack of workers

    Tu didn’t allow any delays in his plan. He started learning German as soon as he returned to Vietnam from Japan.

    He spent around eight hours a day studying the language and managed to acquire a German B1 certificate, then a German training visa, which allowed him to enroll in a three-year vocational training course in the country, as well as be eligible to stay for another two years after his course completion.

    He relocated and became one among about 1.25 million foreigners with such a visa in Germany, according to data provided by the German Federal Statistical Office.

    According to him, the agency he hired to assist him in his visa application procedure told him that they had assisted 100 Vietnamese people relocate to Germany this year, an increase from only around 20 last year.

    After working in Germany for a while, Tu said that it wasn’t only the financial earnings, but also the benefits offered to migrant workers that are more attractive in Germany compared to Japan.

    “I had to work between 11 and 12 hours a day when I was in Japan, compared to only eight hours a day, five days a week here,” he explained, adding that he could arrange his schedule and work in other restaurants during his days off to make extra money.

    Similar to Germany, Australia is a destination that many Vietnamese workers are interested in. Businesses in Australia are receiving hundreds of applications from Vietnam and other Asian countries a day.

    Duy Nam, a manager at a meat processing company in the Australian town of Broome, said he received hundreds of emails and text messages a day asking about the Australian visa application procedure. His own younger brother was contemplating immigrating to Australia as a migrant worker as well.

    He attributed the growing popularity of Australia among Vietnamese workers to the shortage of domestic workers, which was partly caused by the country’s lockdown during the peak of the pandemic.

    Now that the pandemic is under control, the Australian government is doing its best to attract foreign workers. It now grants the subclass 462 visa (also known as the Work and Holiday visa), which allows its holders to work during their stay in Australia, to up to 1,500 people a year. And the visa application procedure has shortened from a year to a couple of months or even weeks.

    Lightening immigration policies is not the only recent boon for migrant workers in Australia. Workers’ average hourly rate in Australia was A$27 (around $19) before the lockdown, but rose to A$55 during the peak of the pandemic. Because of that, earning an attractive income of as much as A$10,000 a month became possible for Vietnamese migrant workers.

    Compared to that, Vietnamese workers in Japan can only save “between VND12-16 million (around $507-$677) a month, compared to VND20-25 million before,” said Tien Thanh, 24, initially planned to migrate to Japan and work as an electrical appliances technician, but was discouraged by his friends.

    He then changed his mind and moved to Australia, which took him six months and four failed attempts to finally do.

    After reaching the country, he started looking for jobs with the help of social media, and was offered work on a farm in northern Australia a week after arriving in the country.

    “There are a total of around 200 people working in my farm, of which as many as 47 are Vietnamese.”

    Thanh is satisfied with his current monthly income in Australia. He earned the equivalent of VND24 million his first month, but after getting more familiar with the work, now he can earn more and save around VND70 million a month.

    Based on his calculations, he’ll be able to pay back the VND300 million his family borrowed to help send him to Australia, in half a year, and then save enough money to get his own house in Vietnam after three years.

    As attractive as the idea of working in Australia and European countries is, both Tu and Thanh warned those who are interested in it about the risk of being scammed.

    “I know this guy from Ha Tinh province who sold his house for $30,000 to pay an agent,” Thanh said. “Only after arriving here did he know he had only obtained a travel visa, and was not eligible to work.”

    Tu added that the German visa application procedure consists of many phases and requires a lot of documents, so applicants should be cautious if agencies they work with treat it lightly.

    “There are agencies that send people to remote areas without helping them find jobs, so you should be careful,” he said.

    Still, those who managed to leave Japan and come to countries that offer more competitive rewards seem optimistic about their future.

    “Even if I don’t get a permanent residence, I can still come back to Vietnam and work well with the experience and knowledge I gained here [in Germany],” Tu said.

  • Rice export prices reach 10-year high

    Rice export prices reach 10-year high

    The global decline of the rice supply and the impact of El Nino climate pattern have led to a sharp increase in the price of rice for export.

    Latest data from General Department of Vietnam Customs shows that in the first half of the year, rice exports reached more than 4.2 million tons and are valued at $2.26 billion, up over 21% in volume and 32% in value over the same period last year.

    The export price of rice in June reached an average of $650 per ton, up 9.4% compared to May and 20.8% higher than the same period last year.

    In the first six months of 2023, the export price of rice is estimated at $539 per ton, up more than 10% over the same period in 2022 and the highest of the past 10 years.

    According to the Ministry of Agriculture and Rural Development, the reason for the sharp increase is the decrease in supply. The emergence of El Nino has also forced many countries to increase rice purchases to stock up.

    The Philippines’ Department of Agriculture forecasts that El Nino will return and severely affect their domestic food production. Indonesia predicts that it may cause widespread drought in the country, so the July-August harvest for agricultural products may drop significantly.

    In the first five months of the year, rice exports to the main markets – Philippines and China, both grew strongly at double digits. In addition, rice exports to new markets such as Indonesia, Chile, Turkey, and Senegal recorded a surge from 1,100-16,000% over the same period last year.

    Bloomberg reported this week that the Indian government is banning the export of all rice that is not Basmati (a popular rice in South Asia), as prices have been on the rise and they want to control inflation.

    Retail rice prices in New Delhi have increased by 15% this year, while the domestic average price has increased by 8%, according to India’s Ministry of Consumer Affairs, Food and Public Distribution.

    Vietnam Food Association and enterprises believe that if this ban is implemented, global rice prices will increase. In the near future, Vietnamese rice will not only benefit in price but also be favorable for exports.

    An enterprise based in Can Tho in Vietnam’s Mekong Delta said that export orders were abundant and the price of fragrant rice was increasing the most. This enterprise does not even have enough supply to meet the orders. It is forecast that the rice export market in the second half of the year will reach a peak value.

    To ensure domestic and export demand, the agriculture ministry has directed key rice production areas, especially the Mekong Delta, to actively cultivate and prioritize short-duration rice varieties as well as high-quality and fragrant rice varieties suitable for market demand.

    Vietnamese rice has been exported to 156 countries and territories, including many high-end rice markets.

  • Pomina Steel to sell stake to Japanese firm

    Pomina Steel to sell stake to Japanese firm

    Pomina Steel has agreed to sell nearly 70.2 million shares, a 20% stake, to Japan’s Nansei steel.

    The company will sell at VND10,000 ($0.42) per share, 35% higher than its market price. The deal, to be conducted in August this year and September next year, is estimated to fetch Pomina nearly VND702 billion.

    Nansei Steel is based in Japan’s Chiba. It first established a Vietnam entity around six months ago. Pomina’s announcement has seen its shares shoot up from VND6,900 to around VND7,390.

    Currently Vietnam Steel Corp is the biggest shareholder in Pomina with a 53.3% stake.

    Pomina, based in Ho Chi Minh City, has been facing financial difficulties. It posted a loss of VND1.1 trillion last year and another VND186 billion in the first six months of this year.

    Its CEO Do Tien Si said that the frozen property market had caused steel demand to plunge, and the high costs of its new blast furnace, were the main reasons for the losses .

    The company expects a loss of VND150 billion this year.

  • Lavazza launches its first collection of locally-roasted coffee

    Lavazza launches its first collection of locally-roasted coffee

    Italy’s biggest coffee roaster Lavazza, has announced the launch of Il Mattino Vivace its first pure filter coffee blend to be sourced and processed in India for the domestic market.

    Coffee is being sourced from Chikmagalur and Coorg in Karnataka and processed in Lavazza’a manufacturing facility at Sri City in Andhra Pradesh.

    The facility at Sri City in Tada began its commercial operations a few weeks ago, Fresh and Honest Cafe Ltd Managing Director Silvio Zaccareo said.

    Fresh and Honest Cafe Ltd is a 100 percent subsidiary of Lavazza.

    Zaccareo declined to reveal the size of investment made at the factory or the number of employees working in it.

    II Mattino Vivace meaning ‘lively morning’ is made from Arabica and Robusta beans roasted for the “at home” segment.

    “Lavazza is known the world over for its expertise in art of blending for over four generations. II Mattino Vivace is a result of combining that expertise and our understanding of the unique consumer preferences in Indian market”, he said.

    To a query, he said the coffee powder would be available in retail outlets across the country. “We are planning to complete first stage distribution by end of this month”.

    Zaccareo said the company inaugurated Coffee Training Centre last year which was the first largest centre outside Italy.

    The centre trains professionals, carries out research and explores new forms of taste. “We have trained more than 1,000 people,” he said.

  • PepsiCo has no plans to change portfolio after WHO aspartame warning

    PepsiCo has no plans to change portfolio after WHO aspartame warning

    The World Health Organization reaffirmed its recommended intake of aspartame Thursday, but the agency’s classification of the sweetener as a possible carcinogen could still scare away diet soda drinkers and lead to new beverage formulas.

    Soda consumption has fallen over the past two decades as consumers have switched to drinking more water or picking beverages with less sugar. However, diet sodas have been a bright spot for the category in recent years.

    Although full-calorie options still dominate the soda segment, diet sodas now represent more than a quarter of sales. Coca Cola’s and Pepsi Co’s bets on zero-sugar versions of their namesake sodas have been paying off for both companies. Diet Coke, Coke Zero, Pepsi Zero Sugar and Diet Mountain Dew all contain aspartame.

    On Thursday, the International Agency for Research on Cancer, a WHO agency, identified a possible link between aspartame and a type of liver cancer called hepatocellular carcinoma. WHO officials said more research on the potential connection is needed.

    A separate body, the Joint Expert Committee on Food Additives, said in its own report that the acceptable daily intake of the sweetener is under 40 milligrams per kilogram of body weight, reaffirming prior recommendations. For most adults, that means drinking less than nine to 14 cans of diet soda every day.

    While the findings on possible links to cancer may not deter consumers who drink smaller amounts of diet soda, the announcement could at least temporarily hurt sales.

    Diet sodas are at least 50% more popular with higher-income consumers than with lower-income people, according to TD Cowen data. Those consumers could be concerned by the WHO’s report, TD Cowen analyst Vivien Azer wrote in a research note last week.

    The biggest risk for soda makers is how much attention the announcement garners. CFRA analyst Garrett Nelson wrote in a June 29 note that the news could hurt sales volumes of low-calorie sodas if enough consumers see the headlines.

    Likewise, Wedbush analyst Gerald Pascarelli told CNBC he thinks the report could hit sales in the category. But the dip might not last long.

    “These companies are quick to pivot and to do what’s necessary to maintain momentum for their brands, and we suspect they’ll do the same thing,” he said.

    Dr. Francesco Branca, head of the WHO’s nutrition and food safety division, said manufacturers who use aspartame in their food and drinks should consider making their products without the sweetener.

    But PepsiCo Chief Financial Officer Hugh Johnston said on Thursday that the company has no plans to change its use of aspartame. He added that the company doesn’t include the sweetener in much of its portfolio.

    Aspartame was used in Diet Pepsi until 2015, when the company tweaked the formula. After backlash from customers, PepsiCo brought it back a year later. But the change didn’t last long — the beverage giant got rid of aspartame in Diet Pepsi in 2020. It still uses it in Pepsi Zero Sugar.

    Coke faces more risk of losing out on sales over aspartame concerns, according to CFRA’s Nelson. The beverage giant currently uses the sweetener in both its Diet Coke and Coke Zero, but could swap it out for another, such as stevia, in the future.

    Even so, Edward Jones analyst Brittany Quatrochi said she isn’t expecting a big hit to diet soda sales.

    “Consumers may trade into a different sugar-free offering, but this isn’t the first kind of food or beverage product to be labeled a carcinogen,” she said.

    For example, the IARC classified red meat as a probable carcinogen in 2018.

    Makers of diet sodas aren’t fretting over lost sales yet. The American Beverage Association, which lobbies on behalf of Coke, PepsiCo, and Dr. Pepper’s took the WHO announcement as further confirmation of the sweetener’s safety.

    “With more than 40 years of science and this definitive conclusion from the WHO, consumers can move forward with confidence that aspartame is a safe choice, especially for people looking to reduce sugar and calories in their diets,” ABA interim CEO Kevin Keane said in a statement.

    Besides diet sodas, aspartame can also be found in a variety of foods, including breakfast cereals, chewing gum and ice cream. It’s widely used as a sugar substitute because it is 200 times sweeter, meaning it can be used in much lower concentrations.

  • Singapore company to buy out Vietnam’s FV Hospital

    Singapore company to buy out Vietnam’s FV Hospital

    Singapore-based Thomson Medical Group has agreed to buy FV Hospital in Ho Chi Minh City for US$381.4 million in what will be Vietnam’s biggest ever healthcare industry deal.

    The company, which has operations in Singapore and Malaysia, said in a press release Wednesday that it would acquire 100% of Far East Medical Vietnam Ltd, which owns the hospital.

    “The acquisition of FV Hospital deepens our commitment to the Southeast Asian healthcare sector, expanding our group’s presence across three of the region’s most important geographies in healthcare,” Kiat Lim, TMG’s executive vice chairman, said.

    FV Hospital provides the group with a strategic foothold in Vietnam and a gateway to future investments in the fast-growing market, he added.

    FV was founded by Dr Jean-Marcel Guillon in 2003 with a group of French physicians.

    Located in District 7, it has evolved into a full-service, one-stop provider of healthcare, including for people from Cambodia.

    It offers over 30 specialties and has over 1,600 staff, who include more than 200 Vietnamese and expatriate doctors.

    It also operates the FV Saigon Clinic in District 1.

    TMG said that the accelerating healthcare demand in Vietnam is fueled by a rising middle class, an aging population and growing expatriate numbers.

    It also sees Vietnam as a potential medical tourism destination, thanks to solid demand from neighboring countries like Cambodia, Laos and Myanmar.

    Thomson Medical Group was established in 1979 and is one of the largest private providers of healthcare services for women and children in Singapore.

  • Spotify and Calm collaborate to bring transformative content to users worldwide

    Spotify and Calm collaborate to bring transformative content to users worldwide

    Calm, the meditation and sleep app with over 4 million users worldwide, has joined forces with Spotify in an unprecedented collaboration. This partnership aims to provide a range of transformative content from Calm to support individuals on their mental health journey. The content is now accessible on Spotify’s platform.

    The collaboration between Calm and Spotify is made possible through Spotify Open Access (SOA), an initiative introduced in 2021. SOA enables companies to offer paid content on Spotify, catering to different subscriber tiers. This means that users can access and enjoy paid content from other platforms, such as books or articles they have purchased, directly on Spotify.

    It is important to note that a Premium subscription to Calm is required to gain access to all its content on Spotify. Otherwise, only a limited set of stories and music is available for streaming on Spotify.

    Recognizing the challenge of finding time for mindfulness amidst daily life’s busy demands, Calm has partnered with Spotify, making some of its finest content readily available in the Spotify podcast catalog.

    With eleven Calm shows now on Spotify, individuals can benefit from a range of mental well-being support. The content includes some of the most popular sleep stories, meditations, mindfulness exercises, and more, all designed to facilitate better sleep, reduce stress and anxiety, and cultivate mindful habits.

    The strategic collaboration between Calm and Spotify brings significant advantages for both parties. Calm’s esteemed content gains access to Spotify’s vast user base of approximately 515 million monthly active users, amplifying its reach and impact.

    The partnership between Calm and Spotify provides an exciting opportunity for users to conveniently enhance their mental well-being. By leveraging the power of Spotify Open Access, Calm’s transformative content is now just a click away for individuals seeking relaxation, stress reduction, and better sleep.

  • Volvo Cars India Records 33% Growth In First Half Of 2023

    Volvo Cars India Records 33% Growth In First Half Of 2023

    Volvo Cars India has reported a significant growth of 33 percent in its sales for the first half of 2023 in India. During the period from January to June, the company delivered 1,089 cars, a notable increase from the 818 units delivered in the same period last year.

    The driving force behind this impressive growth can be attributed to the XC60, one of Volvo’s most popular models, which experienced a substantial 35 percent surge in deliveries. This particular model contributed to a total of 376 cars being delivered during the first half of the year.

    Another notable highlight is the strong performance of the locally assembled all-electric XC40 Recharge, which garnered good demand. With a total of 289 units sold during this period, the XC40 Recharge accounted for 27 percent of the overall sales volume. This success further demonstrates the growing demand for electric vehicles in the Indian market.

    “The first half has been highly successful, with the XC40 Recharge representing 27 percent of the sales volume. The impressive 33 percent growth reaffirms the positive feedback from customers regarding our luxurious mobility options and their strong trust in the Volvo brand. The performance in the first half serves as a promising indicator, instilling confidence that the upcoming months will yield even better outcomes. With the upcoming launch of our Born Electric model C40 Recharge in August, we aim to surpass our best-ever year.” said Jyoti Malhotra, Managing Director, Volvo Car India.

    Volvo Car India recently unveiled its latest addition to the electric vehicle lineup, the C40 Recharge. This marks their second offering in the electric car segment, following the XC40 Recharge. The new EV will also be assembled locally at Volvo’s manufacturing plant located in Hoskote, near Bengaluru. Bookings for the C40 Recharge will start in August, with deliveries scheduled to commence in September 2023.

  • Apple paying TSMC special rate for 3nm A17 Bionic

    Apple paying TSMC special rate for 3nm A17 Bionic

    TSMC’s yield rate on its 3nm production is said to be at 55%. At that rate, a bit less than half of the silicon wafers used to produce Apple’s A17 Bionic and M3 chips are frisbees or extra-large drink coasters. Remember, the iPhone 15 Pro and iPhone 15 Pro Max will be the only smartphones powered by a 3nm chipset this year due to the high price of the wafers.
    But Apple reportedly has worked out a deal with TSMC and will pay only for known good die rather than the $17,000 per wafer price. But Brett Simpson, senior analyst at Arete Research, provided EE Times with a report in which he said that once yields get to 70%, TSMC will put its most lucrative client back on standard wafer prices.
    Simpson wrote, “We think TSMC will move to normal wafer-based pricing on N3 with Apple during the first half of 2024, at around $16-17K average selling prices. At present, we believe N3 yields at TSMC for A17 and M3 processors are at around 55% [a healthy level at this stage in N3 development], and TSMC looks on schedule to boost yields by around 5+ points each quarter.”
    The report from Arete Research says that the A17 Bionic requires 82 mask layers and with a die size in the range of 100-110 square mm, each wafer can yield 620 chips with a wafer cycle time of four months. That’s the time it takes a wafer lot (usually 25 wafers) to move from start to finish in a fab. The report added that the M3 chip is likely to be around 135-150 mm square die size and yield up to 450 chips per wafer.

    The first generation 3nm chips from the foundry are using the N3B process node for the A17 Bionic. In 2024, Apple might switch to the N3E node for the A17 Bionic which will have lower production costs and higher yields. The only downside, according to one tipster, is that it supposedly delivers less of a performance increase than the N3B node delivers.

    This is a rumor, but even so, it isn’t clear whether Apple would stick with the N3B node to manufacture the A17 Bionic and M3, or switch to the less-expensive but slightly less impressive N3E node. If Apple decides to go with the N3E node, you might see prospective iPhone 15 Pro and iPhone 15 Pro Max buyers trying to figure out which variant of the A17 Bionic SoC is inside the phone they are about to buy.
    TSMC CEO C.C. Wei said during a conference call with analysts, “Our 3-nm technology is the first in the semiconductor industry to high-volume production with good yield. As our customers’ demand for N3 (3nm) exceeds our ability to supply, we expect N3 to be fully utilized in 2023, supported by both HPC and smartphone applications. Sizable N3 revenue contribution is expected to start in the third quarter, and N3 will contribute a mid-single–digit percentage of our total wafer revenue in 2023.”

    TSMC will start 2nm production in 2025

    Mehdi Hosseini, senior equity research analyst with Susquehanna International Group, says that in the battle between TSMC and Samsung Foundry, TSMC remains on top. “TSMC, in our view, remains the preferred foundry choice for leading-edge nodes as Samsung Foundry has yet to demonstrate a stable leading-edge process technology, all while IFS [Intel Foundry Services] is years away from offering a competitive solution,” he wrote.
    In the foundry business, you don’t get a second to look back at your accomplishments. TSMC says that N2 production will start in 2025. TSMC’s Wei states, “At N2, we are observing a high level of customer interest and engagement. Our 2-nm technology will be the most advanced semiconductor technology in the industry in both density and energy efficiency when it is introduced and will further extend our technology leadership well into the future.”
    The recent chip inventory correction has been worse than TSMC expected and the company said that it might report a drop in annual revenue (for 2023) which would be the first drop in a decade. The average inventory holdings for TSMC’s fabless clients (chip designers that don’t own a factory and turn to TSMC to make their chips) is 92 days. During Q4 of 2022, Nvidia had over 200 days of inventory with Marvell around 180 days and Qualcomm with about 160 days of inventory.
  • Uncle Tobys rolls out limited edition muesli bar

    Uncle Tobys rolls out limited edition muesli bar

    Uncle Tobys is celebrating 130 years of production with the release of limited-edition box designs and new recipes by chef Hayden Quinn.

    The oat brand was first milled in Wahgunyah, Victoria in 1893, and has played a significant role in the lives of many Australian families, from its cereals, snacks, oats, and muesli bars.

    Uncle Tobys is still 100 per cent Australian with all oats grown and harvested within a few hundred kilometres from its Wahgunyah factory.

    To commemorate the milestone, Uncle Tobys has enlisted the help of chef Hayden Quinn to release a series of new recipes that will bring a nostalgic and birthday-themed twist to iconic oat dishes that celebrate Australian flavours and the brand’s heritage.

    “I am thrilled to be a part of the 130th birthday celebrations for Uncle Tobys. Having worked closely with the brand for over five years, and as someone who has grown up with the iconic red box in my pantry, it’s an honour to be able to contribute to the brand’s legacy through the creation of these new recipes.”

    Recipes by Quinn include a lamington oat swirl, green and gold Aussie bowl, and fairy bread oats, all designed to show the versatility and creativity of Uncle Tobys oats.

    The limited edition boxes of Uncle Tobys traditional rolled oats are available from supermarkets and Quinn’s recipes can be found through Uncle Tobys and Quinn’s Instagram pages.

  • Auto sales plunge in Vietnam

    Auto sales plunge in Vietnam

    Auto sales in Vietnam plunged by 37% to 137,300 units in the first six months as demand dropped amid economic challenges.

    Sales reached the monthly highest this year in March at over 30,000, but fell the following two months before recovering slightly last month at 23,800 units, according to the Vietnam Automobile Manufacturers Association, which does not incorporate data from TC Motor and VinFast.

    Most major brands saw a double-digit decline in sales in the first six months.

    Truong Hai Auto Corporation led sales at over 41,600 units, down 44% year-on-year.

    It was followed by Toyota with 26,600 units, down 38%.

    Ford came third at 17,400 units. It was the only brand in the top five sellers with a growth rate of 80%.

    Mitsubishi sold 12,800 units, and Honda nearly 9,500.

    The government in May deferred the special consumption tax payable by carmakers for June-September until November 20.

    It has also cut car registration fees in half starting from July 1 until the end of the year for locally-made or locally-assembled cars to boost sales.

  • Passenger, goods transport volume sees strong surge in H1

    Passenger, goods transport volume sees strong surge in H1

    The transport sector carried over 2.17 billion passengers in the first half of 2023, up 15.9% year-on-year, heard a conference hosted by the Ministry of Transport in Hanoi.

    In the review period, about 1.10 billion tonnes of goods were transported, up 15.9% compared to the same period last year.

    The volume of railway passengers has experienced a strong increase in the period, recording a revenue growth of 138.92% compared to the same period last year.

    The aviation sector has basically met the demand. Some international routes have gradually recovered to the pre-pandemic level. The Ministry of Transport has also implemented various solutions to reduce flight delays and cancellations, and better the quality of air transportation services.

    The maritime sector has paid attention to implementing a project to develop Vietnam’s shipping fleet; simplifying administrative procedures, strongly applying information technology and the national one-stop-shop mechanism for 11 administrative procedures at 22 maritime port authorities nationwide.

  • Intel to pour more investment in Vietnam

    Intel to pour more investment in Vietnam

    Intel Corporation will continue to invest in Vietnam, Kim Huat Ooi, Vice President in Manufacturing, Supply Chain and Operations, and General Manager of Intel Products Vietnam told Tuoi Tre (Youth) Newspaper.

    The year 2022 has affirmed the importance of Vietnam to the U.S. semiconductor giant and vice versa, he said, adding that these performance and efficiency results underpin the need to inject more capital into the Southeast Asian country.

    By the end of 2021, the Intel Corporation had injected a total of $1.5 billion in Vietnam and it wants to keep investing and that is certainly what Intel will do, he said.

    Intel Products Vietnam (IPV) is now the largest of the four factories in terms of assembly and testing, he noted.

    Regarding the possibility that IPV will be upgraded to participate in more stages of the chip production process, he said that their current plan is to focus on packaging and testing.

    To attract more investors, it is necessary for the Vietnamese government to review the current business support programmes, especially the preferential tax rates, he said, elaborating that other countries such as the Philippines, Malaysia and Indonesia are making similar moves.

    These countries and Vietnam have focused on using corporate income tax programmes to support and attract investors. He cited the U.S. and European chip laws that have been approved as typical examples.

    The modernisation of incentive programmes to support businesses will be an essential action that the Government of Vietnam needs to adopt to assist businesses, along with the advantages of labour costs and political stability.

    According to Kim, the number of foreign companies in the Southeast Asian country will increase in the future. He also highlighted the necessity of solving such problems as government incentives and streamlining administrative procedures.

    The current model that businesses are moving towards must be resilient and geographically balanced, he added.