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Tag: asia

  • Philippines charges bankers for ignoring cyberheist

    Philippines charges bankers for ignoring cyberheist

    The Philippines has filed charges against five officials of RCBC bank and a former treasurer who “wilfully ignored” suspicious activity that led to tens of millions of dollars vanishing after a heist on Bangladesh’s central bank.

    Unknown cybercriminals tried to steal nearly $1 billion from the Bangladesh Bank in February in what was one of the biggest bank heists ever.

    They succeeded in transferring some $81 million via an account at the New York Federal Reserve to four accounts in fake names at a branch of Rizal Commercial Banking Corp. in Manila. Most of the cash was quickly withdrawn and laundered through multiple channels.

    In a 97-page complaint to the justice ministry, the Anti-Money Laundering Council (AMLC) said that former RCBC Treasurer Raul Tan, three retail banking officials and two workers at the branch where cash was withdrawn were guilty of money laundering because they should have noticed something was wrong and intervened immediately.

    Only about $15 million has been recovered and returned to Bangladesh, with a further $2.7 million frozen. The rest of the funds changed hands several times and vanished in the Philippines’ casino industry.

    No arrests have been made despite investigations by the U.S. Federal Bureau of Investigation, Interpol, Bangladesh police and authorities in the Philippines.

    Tan resigned as the bank’s treasurer in April.

    The AMLC complaint, filed on Nov. 18, covers three retail banking workers and two customer relations officers at the its Jupiter branch in Makati City. The complaint was based on evidence gathered from the bank.

    “Tan was in a position to order enhanced due diligence based on the red flags,” it said.

    “Tan could have convened the anti-money laundering committee to act on these red flags,” the AMLC said, adding Tan “wilfully ignored them and failed to conduct thorough investigation,” as required by law and the bank’s regulations.

    Tan’s actions showed he had “knowledge that the funds transacted represented the proceeds of an unlawful activity,” it said.

    RCBC in a statement said its own probe had found no official from the head office involved in the transaction, which was initiated and carried out by the Jupiter branch.

    “We welcome the charges as an opportunity to conclusively prove that our executives acted properly and had no knowledge or participation in any money laundering,” CEO and President Gil Buenaventura said.

    One longtime RCBC client, casino owner and agent Kim Wong, had admitted during a Philippine Senate inquiry that he received millions of the loot from two Chinese gamblers but did not know it was stolen. He denies involvement in the heist and has returned $15 million of around $35 million he said he received.

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  • BreadTalk to take Din Tai Fung into UK

    BreadTalk to take Din Tai Fung into UK

    BreadTalk Group has signed a franchise agreement with the parent of the Din Tai Fung brand of restaurants to take the Taiwanese concept into the UK.

    BreadTalk Group says the deal with Fairy Rise Development, the owner of Din Tai Fung, will see the first restaurant opened in London next year, followed by outlets in England, Ireland and Northern Ireland.  They will be run by a joint venture company TFUK, comprising BreadTalk subsidiary Together Inc as majority shareholder, Din Tai Fung Taiwan, Fairy Rise, a UK partner and Taiwanese investors.

    Cheng William, divisional CEO (restaurant) of BreadTalk Group says the deal will see the concept enter Europe for the first time.

    “With our experience in operating the brand for the last 13 years in both Singapore and Thailand, we hope to bring the much loved Din Tai Fung to new consumers who will appreciate this authentic Taiwanese cuisine,” he said.

    Din Tai Fung’s owner,  Chi-Hwa Yang, says the international recognition Din Tai Fung enjoys today “is in no small part attributable to our long-standing partnership with the BreadTalk Group. BreadTalk Group has played an integral role in our success by growing and exposing our Taiwanese brand to an international audience.”

    BreadTalk Group operates 21 Din Tai Fung restaurants in Singapore and three restaurants in Thailand with more planned.

    Globally, Din Tai Fung’s stores have won multiple awards, including a Michelin star in Hong Kong, and are favoured by celebrities and food critics alike with a total of 135 restaurants in 13 territories.

    BreadTalk Group won the franchise rights to operate Din Tai Fung in Singapore and Thailand, in 2003 and 2011 respectively. The Taiwanese brand also has branches in Australia, China, Hong Kong, Indonesia, Japan, Malaysia, the Philippines, South Korea, the UAE and the US.

    BreadTalk Group has nearly 1000 stores spread across 17 markets, its brand portfolio comprises BreadTalk, Toast Box, Food Republic, Din Tai Fung, Thye Moh Chan, Bread Society, The Icing Room and RamenPlay.

    BreadTalk Group has a network of owned bakery outlets in Singapore, China, Malaysia, Hong Kong, and Thailand, as well as franchised bakery outlets across Asia and the Middle East. It also owns the Food Republic food atria in Singapore, China, Taiwan, Hong Kong, and Malaysia.

  • Boom time for Korean convenience store sector

    Boom time for Korean convenience store sector

    The Korean convenience store sector is experiencing rapid growth as heavyweights battle for market share.

    The number of convenience stores in South Korea surpassed 33,000 as of the end of October this year, marking a rapid growth since the opening of the first store 27 years ago, according to industry data.

    That’s a significant increase from the 28,994 counted at the end of last year.

    CU had the most with 10,634, followed by GS25 with 10,486 and 7-Eleven with 8486. Japan-affiliated brand Mini Stop had 2326, and With Me, a chain operated by Shinsegae Group, had 1615. There are some 100 others that are not part of franchises, according to the Korea Association of Convenience Store Industry.

    South Korea’s first convenience store opened in southern Seoul in May 1989.

    The rising number of single-person households and aging society are funneling consumers to convenience stores that are near their homes and sell small portions, industry watchers say. Convenience stores have been quick to adapt to such a customer base, expanding from conventional shelf goods, such as snacks and beverages, to lunch boxes and other kinds of meals for singles who don’t want to cook, as well as services, including delivery and financial transactions.

    The sector grew 11.4 per cent last year, visibly comparable with 1.2 per cent growth in 2013 and 4.7 per cent in 2014. Sales increased from 12.8 trillion won (US$10.96 billion) in 2013 to 13.8 trillion won in 2014 and to 17.2 trillion won last year.

    Industry watchers expect sales this year to exceed 20 trillion won, with room for more growth until 2030, considering that South Korea’s per-store sales is only about one-fourth of that in Japan. Japan currently has about 55,600 convenience stores.

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  • Alibaba Cloud to open new data centers

    Alibaba Cloud to open new data centers

    Alibaba Cloud has announced plans to open four new data centers by the end of 2016 in the Middle East, Europe, Australia and Japan.

    The new centers are expected to boost its data center network to 14 locations, covering key economic centers around the world. The data center in the Middle East, located in Dubai in the United Arab Emirates, commenced initial operations today.

    Alibaba Cloud’s expansion aims to provide customers in Asia and worldwide with improved latency and greater access to diverse offerings, including data storage and analytics services, enterprise-level middleware, and cloud security services. The new data centers are expected to support Alibaba Cloud’s growing client base beyond the current 2.3 million.

    Extending its global footprint in the Asia-Pacific, Alibaba Cloud will open a new data center in Sydney, Australia by the end of 2016.

    Alibaba Cloud will bring its most popular cloud services in data storage and processing services, enterprise-level middleware, and cloud security services to the Australian market. A dedicated team will be based in Australia, and build up a cloud ecosystem with local technology partners to drive cloud and big-data business in the region.

    The planned new Japan Data Center, hosted by SB Cloud Corporation, a joint venture between Softbank and Alibaba Group, will meanwhile provide Japanese enterprises with public cloud computing services from Alibaba Cloud.

    With the joint venture, Alibaba Cloud will further expand its cloud computing service platform by leveraging SoftBank’s extensive enterprise customer base in Japan.

    “Alibaba Cloud has contributed significantly to China’s technology advancement, establishing critical commerce infrastructure to enable cross-border businesses, online marketplaces, payments, logistics, cloud computing and big data to work together seamlessly,” Alibaba Cloud president Simon Hu said.

    “We want to establish cloud computing as the digital foundation for the new global economy using the opportunities of cloud computing to empower businesses of all sizes across all markets.”

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  • Hong Kong International Airport Offers Deluxe Promotion – Instant Rebate of up to $15,000

    Hong Kong International Airport Offers Deluxe Promotion – Instant Rebate of up to $15,000

    Starting from 17 November, Hong Kong International Airport (HKIA) will launch a limited time deluxe promotion featuring instant cash coupons rebate to HKIA travellers. 

    From 17 November to 1 December 2016, travellers will be entitled to enjoy an instant cash coupon rebate worth up to HK$15,000 for spending by electronic payment. The November deluxe promotion is designed to enhance travellers’ shopping experience at HKIA.

    For details, please refer to the following table:

    Spending by Electronic Payment of

    HKIA Cash Coupons Redemption

    HK$20,000

    HK$1,200

    HK$50,000

    HK$5,000

    HK$150,000

    HK$15,000


    Shopping and Dining Offers

    During the promotion period, HKIA will also collaborate with retailers to provide an array of fabulous shopping and dining offers. Travellers can get more details by simply scanning the QR code on the promotion materials or visiting their website:

    https://www.hongkongairport.com/eng/shopping/special-offers.html

    Free Delivery Service

    Travellers spending HK$1,000 or more in a single transaction at HKIA can enjoy complimentary local delivery service. Free delivery service to Mainland (on clothing, bags and accessories only), Indonesia, Macao, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam is also offered to travellers who spend HK$2,500 or more in a single transaction. For details, please check with the staff at the retail outlets.

    For more details on the promotions, please visit the Facebook Page, www.facebook.com/hkairport.official, or on the website

     https://www.hongkongairport.com/eng/shopping/index.html. 

  • BRI Launches JCB Platinum Credit Card for Travelers

    BRI Launches JCB Platinum Credit Card for Travelers

    PT Bank Rakyat Indonesia (Persero) Tbk. (BRI) and PT JCB International Indonesia, a subsidiary of JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd. (collectively “JCB”), today announced the launch of the BRI JCB Platinum Credit Card in the BRI JCB Indonesia Open 2016. The card will be ready in the market in the next spring 2017.

    Bank BRI is a leading bank in Indonesia with an extended network of more than 10,000 outlets and more than 100,000 e-Channel outlets. JCB brand cards are currently issued in 21 countries and territories with 95 million cardmembers around the globe. BRI has cooperated with JCB for JCB card acceptance at BRI merchants with BRI EDC machines since April 2016. The launch of this new product is the next step of the partnership.

    BRI JCB Platinum Credit Card is a strategic complement to the BRI product line for the consumer segment, especially as a credit card product to tap the traveler segment.

    BRI JCB Platinum Cardmembers can enjoy special features such as:

    1. Double BRI points at all merchants such as restaurants, airlines, golf courses and car rental.

    2. Triple BRI points for transactions overseas.

    3. 0% installment conversion for all transactions overseas for the first 12 months.

    BRI points earned by BRI JCB Platinum Cardmembers can be converted into airline miles, exemptions of card annual fees and a variety of other exciting promos.

    “We are optimistic about issuing 50,000 cards from early Q1 2017 until Q4 2017,” said Sis Apik, Managing Director of BRI.

    “BRI believes that this JCB brand credit card will grab the travel segment, increase the BRI number of cards and card usage for travel, for both domestic and overseas destinations,” he added.

    To give extra convenience to BRI JCB Platinum Cardmembers who travel abroad, JCB provides a variety of features that support travel needs such as free access to 28 airport lounges in Japan, 26 lounges in China, 2 lounges in Korea, and 1 lounge each in Singapore, Thailand, and Hong Kong.

    Besides that JCB provides JCB Plaza Lounge in several world-class business and travel destinations: Tokyo, Paris, Honolulu, Hong Kong, Guam, and Singapore. Last but not the least JCB also provides free wifi hotspot access and discounts at many selected merchants in Japan.

    “JCB is very excited and proud to have a partnership with BRI for the issuance of BRI JCB Platinum Credit Card that means JCB market share expansion in the premium credit card segment in Indonesia. Our strategy to tap the premium segment has resulted in 60% growth in the number of JCB cards in the market since 2014,” said Koichiro Wada, Director PT. JCB International Indonesia.

    “As you may know traveling overseas is increasing year on year especially to Asian countries, therefore we are confident that the BRI JCB Platinum Credit Card with special features for travelers will be very interesting for Indonesians who love to travel, and increase the cashless society in Indonesia,” he added.

    The uniqueness of the BRI JCB Platinum Credit Card is not only the card features, there is also the card design of the Nuri Irian bird which is an exotic bird from the jungle of Papua, East of Indonesia. It expertly mimics diverse sounds and has charming feathers, ranging from blue, red, and green that dominate the whole body as well as black on the head, back and neck.

    In addition to beauty, the Nuri Irian bird also illustrates openness and freedom as the species loves being outdoors and singing beautifully. This is in line with the purpose of the BRI JCB Platinum Credit Card issuance for the traveler as well as the spirit of BRI and JCB to always develop and present new products and give the best service to their customers.

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  • GEOX Launches Women’s Footwear Collection Autumn/Winter 2016-2017

    GEOX Launches Women’s Footwear Collection Autumn/Winter 2016-2017

    A breath of air is a source of life – a line where well-being starts and a symbol of sublime beauty and perfect function. Research and technology are stalwart companions in what Geox does.

    Geox’s “cool comfort” range fuses creativity, lightness and flexibility – be it for urban days, classical events, sporty afternoons or glamorous evenings.

    With the upcoming Winter season, the traditional qualities of breathability, thermo-regulation and water-tightness are bonded into Geox’s vanguard membrane and soles — further enhanced by the German TÜV SÜD FOOTWEAR MARK: that vouches for a rigorous control procedure on quality during production. The aim is to ensure harmful substances are not released during production. A mark of quality assurance is only right given Geox’s unflagging attention to standards and commitment towards society and the environment.

    One of these models is Sfinge, engineered with a hive of spaces which exalts its springiness, grip and cushioning sole. Featuring 3D breathable technology and Inner Breathing Lining, it caters for a female desire for finesse with its eclectic mix of leather, suede and patent finishes, available in both total black version and in a colour-block version featuring cornflower blue, pillarbox red and metallic gold.

    Fall/Winter features ankle boots customised with special embossed details which add dimension to the black leather. Waterproof, lightweight, easy to slip on and comfortable, these shoes have a modern and pared-back look. The rubber soles include the Amphibiox technology which keeps wet weather conditions at bay: the breathable and waterproof inner membrane protects both sole and upper, stopping water from getting inside the shoes whilst ensuring amazing breathability – meaning your feet stay warm, dry and breathe naturally.

    Walking shoes couldn’t get better than this whether to tackle old- town cobblestones or moss-covered boulders. Nebula continues to amaze as it slips into new skins crossing boundaries and seasons on a carpet of clouds: the fabric and suede, both smooth and with quilt-stitching, feature a colour palette spanning from light dusty pink, teal and grey all designed to match the original colour contrast of the soles. Boasting Geox outstanding patents in one shoe, Nebula fuses the Inner Breathing System, Net Breathing System and an inner EVA sole with strategically placed soft rubber inlays to ensure added grip and stability. Easy to slip on and with elastic laces, its natural heat-balancing properties, lightness, flexibility and cushioning effect fuse effortlessly with the hi-tech design.

    One hot comeback is the good old moccasin, revisited in a modern-chic version, available in a wide range including pearly patent leather, brushed leather or crocodile print models as well as a preppy style with metal horsebits. Geox’s iconic loafers for men and women are crafted in the softest black and burgundy leather, with an ultralight, flexible rubber sole, these loafers combine the practicality of breathability with an upbeat urban feel.

    Last, the spotlight turns on a fashion-statement collection which includes boots, ankle boots, pumps, ballerina flats with tapered toes — all capturing the essence of the latest trends on the pret-a-porter catwalks. For the more sophisticated versions, the material mixture, such as smooth and laminated leather, creates eye-catching patterns of black & gold, lit up with small metallic buckle details. Fitted with inner memory foam soles, they are super soft, lightweight and flexible, specially designed for formal daytime looks or more glamorous evening engagements.

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  • Huawei launches cloud VPN integration service

    Huawei launches cloud VPN integration service

    Huawei has launched a new service which it says can resolve problems in enterprise leased line services that have affected telecoms operators, such as slow provisioning, lack of services, and difficult operation.

    According to Huawei, the CloudVPN Integration Service Solution can quickly meet the customized ICT needs of enterprise and enable operators to boost enterprise revenue by delivering a variety of value-added services.

    “A lot of operators are starting to think how to carry out CloudVPN business to market for their customers. But when they started this journey, they faced a lot of challenge,” said Bruce Xun, vice president of Global Technical Services Department at Huawei.

    By integrating a variety of value-added services, combining cloud, leased line, and value-added services, operators can provide one-stop CloudVPN for their enterprise customers, Xun noted.

    The CloudVPN Integration Service provides accurate network planning, helping carriers reduce time to market for new services over the overlay network architecture. Multi-vendor ICT resource orchestration allows enterprises to use cloud and network resources on demand and in real time, shortening the services provisioning time to minutes.

    Operators can reduce service delivery time from a month to 15 minutes with the CloudVPN Integration Service solution.

    The solution can meanwhile accurately identify the network bandwidth bottlenecks based on enterprise service prospects, optimizing networks accordingly to ensure services quality.

    At the launch, Huawei also announced it completed integration and certification with 20 ecosystem partners, including Fortinet, Check Point, Citrix, Red Hat, Riverbed and Infoblox, via its Cloud Open Labs. The company aims to expand the number of partners to 30 by the end of the year.

    Xun said Huawei’s Cloud Open Labs gives operators access to a range of third-party value-added services that have been pre-integrated by its partners.

    The agile integration capability of the CloudVPN Integration Service solution allows operators to add new VAS in just seven days.

    Huawei is planning to enhance its multi-vendor integration tool by increasing the development and testing team with 60 more senior engineers to support multi-level multi-vendor integration tool development.

    The service is expected to be commercially available by the end of the year.

  • Promotion, collaboration sought to boost tea exports

    Promotion, collaboration sought to boost tea exports

    The government should give more attention to Indonesia’s tea industry by intensifying promotional efforts and strengthening collaboration among ministries to reverse the trend of declining exports that started a few years ago, a public policy expert suggests.

    “The Trade Ministry, for example, can collaborate with Pak Arief Yahya [the tourism minister]. So while traveling overseas, they could promote Indonesian teas,” University of Indonesia’s public policy lecturer Riant Nugroho said on Monday.

    The declining tea exports, which was partly caused by there being limited land for tea plantations, could also be solved through better coordination with the Public Works and Public Housing (PUPR) Ministry, he added.

    “Talk to them and find out ways so they won’t use all the available area to build [the planned] Jakarta-Bandung high-speed railway, for example,” he said, referring to the megaproject designed to better connect Jakarta and the capital of West Java, Indonesia’s largest tea-producing region.

    Ranked as the seventh largest tea producer in the world, Indonesia’s tea exports dropped to 62,700 tons last year from 92,000 in 2009, with the value going down to US$128 million from $171 million in the same period.

    Only 6 percent of the 62,700 tons exported last year comprised value-added processed tea.

    “Tea production in the country still faces a lot of challenges, such as the limited area for plantations, outdated machinery and low tea prices at the farm level,” said the Trade Ministry’s director general for foreign trade, Dody Edward.

    Among the largest of Indonesia’s tea export destinations are Russia, Malaysia, Pakistan, Australia and Germany.

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  • BlackBerry launches branded smartphone in Hong Kong

    BlackBerry launches branded smartphone in Hong Kong

    BlackBerry has launched a new branded smartphone, the Android-based DTEK60, in Hong Kong.

    The DTEK60 is the second device in the DTEK series of Android smartphones. BlackBerry launched the DTEK50TM in Hong Kong in September.

    In line with BlackBerry’s decision to stop producing its own smartphone hardware, as announced in September, the device was manufactured and partly designed by China’s TCL. BlackBerry is providing its enterprise messaging and security software.

    The DTEK60 includes a fingerprint sensor for unlocking the devices and authorizing purchases, an intelligent keyboard designed to learn from users to increase accuracy and speed, the BlackBerry Hub for consolidating messages and a customizable convenience key providing quick access to commonly-used applications.

    The device has a 5.5” Quad HD display, an 8 megapix front and 21 megapixel rear camera and a battery life that supports up to 24 hours of mixed use.

    It comes preloaded with BlackBerry’s full suite of enterprise mobility management and secure productivity solutions, and supports advanced security features including a secure boot process, Android OS hardening and full disk encryption.

    “With the DTEK60, BlackBerry continues to focus on our strengths: state-of-the-art software and security solutions. When you see our logo it means security, from our class-leading enterprise software to devices secured by BlackBerry software,” BlackBerry COO Ralph Pini said.

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  • Asia’s Largest Logistics and Maritime Conference Opens

    Asia’s Largest Logistics and Maritime Conference Opens

    The sixth Asian Logistics and Maritime Conference (ALMC) today (22 November) launched its two-day run at the Hong Kong Convention and Exhibition Centre. More than 70 leaders from the logistics and maritime industries are speaking at the conference. Today’s activities included the plenary session “China’s Grand Initiatives: Where are the Opportunities?” The ALMC is the largest event of its kind in Asia, welcoming industry elites from some 30 countries and regions. The conference is jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Government of the Hong Kong Special Administrative Region (HKSAR).

    Speaking at the opening ceremony, Carrie Lam, Acting Chief Executive of the HKSAR, said, “Strategically located at the heart of Asia, Hong Kong has long been the gateway to southern China, and the bridge between the Mainland and the rest of the world. Our infrastructure is world-class, rated first in the World Economic Forum’s Global Competitiveness Report. Our robust economy, trade freedom, regulatory efficiency, and excellent logistics services have made Hong Kong one of the world’s busiest logistics hubs.”

    In her welcoming remarks, Margaret Fong, Executive Director of the HKTDC, said: “The ALMC aims to help the industry navigate choppy economic waters and chart a course towards new business opportunities. The three main themes of ALMC 2016 are the Belt and Road Initiative, China’s 13th Five-Year Plan and cross-border e-commerce. In each case, the logistics and maritime industries are front and centre. In just a few short years, the Belt and Road Initiative has moved from the drawing board into reality, with new ports, roads and railways linking markets along the Belt and Road routes from Asia to Europe via the Middle East and North Africa. In addition to infrastructure, world-class shipping and logistics services and know-how are required to fully realise the potential of the Initiative.”

    China’s grand initiatives

    A highlight of this year’s ALMC was this morning’s plenary session “China’s Grand Initiatives: Where are the Opportunities?” Three high-profile speakers examined key strategies of the Chinese mainland – the Belt and Road Initiative, “Internet Plus” and “Made in China 2025”. The three speakers were HE Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World; Zhao Huxiang, Vice Chairman, China Merchants Group; and Joseph Phi, President, LF Logistics.

    Addressing various topics, seven forums were also held today focusing on the Supply-chain Management, Logistics, Air Freight and Shipping sectors. As well as helping the logistics industry analyse the latest market trends, the forums also shed light on how the manufacturing and trading industries can capitalise on the latest logistics solutions to grow their business, lower costs and increase competitiveness.

    The first Supply-chain Management & Logistics Forum “Relocating Your Manufacturing Base – the Pros and Cons”, heard from speakers about the risks and opportunities from a supply-chain management perspective. Speakers included Dr Qu Jian, Vice President, China Development Institute; Dr John Cheh, Vice Chairman and CEO, Esquel Group; Takeshi Kondo, General Director, Yusen Logistics (Vietnam) Co, Ltd; and Tommy Lui, Director & Group Chief Representative – Southern China, Li & Fung Development (China) Ltd.

    Other forums today included “Changing Landscape of Asian Air Cargo”, “Expert Panel: What’s on the Horizon for Liner Shipping?”, “Staying Ahead in Temperature-controlled Cargo Handling”, “Expert Panel: Tanker and Gas Trade Outlook”, “Sustainability – Greening the Supply Chain” and “Expert Panel: Dry Bulk Market Outlook”.

    Cross-border E-commerce

    Tomorrow’s plenary session will be on the topic of “Cross-border E-commerce: Who Will Rule the Game?” The HKTDC has invited Dr Guo Dongbai, CTO, AliExpress; Zheng Changqing, Senior Director, eBay Inc; Andrey Zatsepin, Head of International Logistics, Ozon.ru; and Haruko Takachi, CEO, Japan Post International Logistics Co, Ltd. to discuss the latest developments in cross-border e-commerce.

    The rapid development of digital technology is disrupting the retail industry, prompting the HKTDC to enrich this year’s ALMC programme for supply chain management and logistics. Tomorrow’s forums include “Omni-channel Strategy: Navigating the Future of Retail”, which will showcase outstanding examples of multi-channel retailing and examine online-to-offline (O2O) integration and ways to improve the customer experience. Expert speakers include Pieter Paul Wittgen, Co-Founder and COO, Grana.com; Filippo Gori, Business Development Director, International Brands, Vip.com; and Malcolm Monteiro, CEO, Asia-Pacific, DHL eCommerce. The trio will discuss the impact of omni-channel retailing on supply chain management and logistics.

    Other forums tomorrow include “New Opportunities for Modern Logistics Industry in the PRD Region and Zhuhai from the completion of the Hong Kong-Zhuhai-Macau Bridge”, “Big Data, the Cloud and Your Business”, “Dalian Development Area – Core of Liaoning FTA, uprising International Financing, Logistics and Shipping Centre of Northeast Asia” and “Linking North America and Asia: Transpacific Trade back on Track”.

    Exhibition and business matching sessions

    To help industry professionals gather the latest market intelligence and services, and promote Hong Kong’s advantages in logistics, the HKTDC is once again organising an exhibition alongside the conference. Nearly 100 exhibitors are showcasing their e-logistics solutions and logistics, maritime and related services. The HKTDC is also arranging more than 150 one-on-one business matching sessions to help participants foster new business partnerships.

    This year’s ALMC is supported by the Hong Kong Logistics Development Council (LOGSCOUNCIL) and the Hong Kong Maritime and Port Board. It is also a flagship event of the Hong Kong Maritime Industry Week.

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  • Big year-end discounts on way

    Big year-end discounts on way

    The government seeks cooperation from retailers and wholesalers to cut product prices to help reduce consumers’ expenses and stimulate the economy in the final month of the year.

    The government is set to team up with wholesalers and retailers, which together have 13,500 branches nationwide, to cut product prices by 20%-80% to help reduce consumers’ expenses and stimulate the economy in the final month of the year.

    Commerce Minister Apiradi Tantraporn said the Internal Trade Department has been assigned to discuss with retailers and wholesalers, including hypermarket and supermarket operators, the possibility of holding special promotions to spur spending among Thais and tourists during December.

    “The ministry has cooperated with retailers and wholesalers to organise various activities to cut living costs since late 2015,” she said. “The campaign for this year-end promises special events with discounts as high as 80% for certain items.”

    Mrs Apiradi insisted the discounts will be given to brand-new products, not those currently on sale. Products that will feature in the campaign include food and beverages, consumer goods, electrical appliances, garments and accessories.

    The Business Development Department has also been instructed to talk with retail outlets under its supervision to participate in the year-end special discount programme, particularly for items like milled rice, instant noodles, vegetable oil, seasonings, detergent, dishwashing liquid, fabric softener, toothpaste and shampoo.

    She said the ministry has also asked for cooperation from department stores and retail outlets to hold special events or sales promotions to stimulate rice purchases to help local rice farmers.

    Retailers and wholesalers who are expected to participate in the scheme include the Thai Retailers Association, Siam Makro, the operator of Makro cash-and-carry store chain, Ek-chai Distribution System, the operator of Tesco Lotus hypermarkets, Big C Supercenter, Central Department Store, Robinson Department Store, Central Food Retail, the Mall Group, Tang Hua Seng, CP All, Foodland supermarket, Aeon (Thailand), Saha Lawson, Central FamilyMart, CPF Trading and TCC Logistics & Warehouse.

    In a separate development, the savings and credit cooperatives of employees of Thai Airways International Plc (THAI) will support direct sales of rice from farmers, said Mrs Apiradi.

    Flt Lt Kanok Thongpurk, vice-president of THAI, said farmers will be allowed to sell their products through all channels of THAI employees’ savings and credit cooperatives as well as THAI offices both in the provinces and Bangkok, including Don Mueang and Suvarnabhumi airports.

    Meanwhile, the Public Warehouse Organization and agricultural cooperatives have been instructed to open their spaces for farmers to sell their grain.

  • Nutmeg higher in demand in Europe

    Nutmeg higher in demand in Europe

    Exports of nutmeg from Indonesia to Italy has increased toward the end of the year, a North Sulawesi official said.

    “Orders have come more regularly from Italy for North Sulawesi nutmeg. Demand is growing toward the end of the year,” head of the provincial industry and trade office Jenny Karouw said here on Tuesday.

    Jenny said in the third week of November 2016 nutmeg exports to Italy totaled 15 tons worth US$112,500.

    She said nutmeg from the district of Sitaro Islands is high in demand in Europe especially in Italy for its high quality.

    “The quality of nutmeg from the district of Sitaro Islands has been internationally recognized. The exporters, therefore, should maintain the reputation,” she said.

    Buyers from Europe would look for other suppliers once they found the quality is not up yo their expectation, she added.

    Nutmeg from North Sulawesi has been exported to Europe and the United States, where quality is the priority.

  • Fujitsu develops technology to boost virtual networks

    Fujitsu develops technology to boost virtual networks

    Fujitsu Laboratories has developed automatic analysis technology to boost communications performance and quality in virtual networks.

    With the spread of virtualization technologies, such as the cloud, software defined networking (SDN), and network functions virtualization (NFV), there is demand for the ability to flexibly set up and operate high performance virtual infrastructure.

    In order to set up and operate virtual infrastructure for operations that require high performance, it is necessary for experts with knowledge of both hardware and software to take time to analyze bottlenecks and set up the virtual infrastructure appropriately. This results in high operating costs with frequent changes to the system structure or usage situation.

    To address this issue, Fujitsu Laboratories has developed a technology that, with a low load, captures communications packets passing through virtual infrastructures. The system uses this information to identify communication bottlenecks and automatically recommend configurations to improve communications speed and to reduce packet loss and other measures to raise virtual network quality.

    These technologies have been confirmed to roughly double communication speeds of virtual networks.

    Fujitsu said that with this technology, high communication performance and quality can be maintained, even in environments where the system structure and usage situation frequently change, such as virtual infrastructure for the cloud or telecommunications carriers.

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  • BNI President Addresses Rush Money Issue

    BNI President Addresses Rush Money Issue

    Bank Negara Indonesia (BNI) president director Achmad Baiquni asked customers not to panic and get affected by solicitations to withdrawal money en masse. The so called rush-money rumor has been circulating on social media in recent days.

    According to Baiquni, the rumor is baseless and irrelevant, considering Indonesia’s banking fundamentals are normal and healthy.

    “Banking conditions are very good, so there should be no reason to worry,” Baiquni told.

    Baiquni firmly stated that banks’ performance continues to grow, both in terms of assets, loans, deposits and third party funds. Baiquni also urged people to ignore the call to withdraw their savings from banks.

    “Let’s not over-blow the issue—especially in social media. There is no need to worry,” Baiquni said.

    In terms of macroeconomics, Baiquni said the rupiah is stable while the Jakarta Composite Index is slowly gaining. “Last week’s correction was only a brief Trump effect.”

    Baiquni said BNI is asking customers to remain calm and not be provoked by the issue. “If there are customers who want more information about this matter and require an explanation, we are ready.”

    Earlier, the Police Headquarters’ Director of Special Economic Crimes Brig. Gen. Agung Setya said the solicitation is prone to prone risks of greater crimes that can harm the public.

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