Tag: asia

  • McDonald’s China launches its first zero-carbon restaurant

    McDonald’s China launches its first zero-carbon restaurant

    Leading fast-food chain McDonald’s China opened the company’s first zero carbon restaurant in the Shougang Park in Beijing recently part of its upcoming move to open more new green outlets in the country.

    The McDonald’s Shougang Park restaurant is designed and constructed in line with LEED (Leadership in Energy and Environmental Design) net zero carbon and net zero energy certification standards.

    For a building to be net-zero it must remove as much carbon dioxide from the atmosphere as it emits throughout its lifespan, both in the form of embodied carbon and operational carbon associated with construction, occupation, and eventual demolition.

    Powered by on-site solar panels of over 2,000 square meters, the new restaurant is a milestone for the company’s China unit to achieve net zero carbon emission in the country by 2050. There are about 5000 McDonald restaurants in China.

    “With the scaling up of our business, we are determined to take up more social responsibilities to feed and foster our communities,” said Phyllis Cheung, CEO of McDonald’s China.

    “We will continue to drive high speed and sustainable growth by creating a future where people and the planet will thrive. We will focus on opening more green restaurants and embed green experience throughout consumer journey.”

    McDonald’s China will offer a series of green experience activities to consumers nationwide to advocate low carbon lifestyle, which includes the sealing sticker on the paper bags turning into green colors, or discounted Filet-O-Fish, which uses 100 percent Marine Stewardship Council certified codfish.

    Collaborating with Amap, McDonald’s will provide a cup of free coca cola to the customers who use Amap navigation app and arrive at McDonald’s restaurants by bike or on foot from Sep 20 to Oct 4.

    About 1,600 LEED certified McDonald’s green restaurants will change the color of their location icon on McDonald’s app, enabling over 200 million registered members to find their nearest green restaurant easily.

  • Yonyou Rolls Out the Next-Gen Cloud ERP

    Yonyou Rolls Out the Next-Gen Cloud ERP

    With more and more organizations realizing the benefits of digital transformation, enterprise management software solutions and cloud service providers, Yonyou is also quickly expanding its digital ecosystem amid increasing business partnerships within various public and private sectors.

    Telecom Review Asia interviews Bowen Guo, general manager, Overseas Business Unit of Yonyou Network Technology Co., Ltd. and Yonyou (Hong Kong) Co., Ltd. on the vital role of high-quality and secure cloud services to maximize its business capabilities, especially amid its global expansion.

    Yonyou has been recognized by Gartner as one of the global top 10 ERP providers and is ranked by the International Data Corporation as the largest enterprise management software provider in China. Yonyou has over 230 branches and 10,000 ecosystem partners worldwide, providing best practices for cross-border enterprises.

    And to further strengthen its capabilities, the company is leveraging cloud-native technology. Yonyou sees the need for strong technical support and high global accessibility, such as what Huawei Cloud delivers.

    Secure and High-Quality Cloud Technologies

    As the largest B2B SaaS vendor in China, Yonyou is quickly building up a thriving digital ecosystem, prompting the need for more secure and high-quality services. And to provide secure technologies and support, the company continues to partner with Huawei Cloud for its strong technical support and high global accessibility.

    Guo stresses that the Huawei Cloud focuses on the IaaS and PaaS layers, while Yonyou focuses on the SaaS layer. And Huawei cloud mostly deals with the bottom layer or underlying technologies, thereby delivering high-quality services to Yonyou to help them serve their customers.

    As Guo explains, “Huawei cloud mainly focuses on the IaaS and PaaS layers. IaaS means the infrastructure, and I think Huawei is a leading player in providing a wide range of cloud infrastructure. It offers diversified infrastructure products, including cloud infrastructures, databases, middleware and security technologies. I think they can provide all-rounded businesses and technologies in these domains, and Huawei plans to develop the operating systems further. Thus, I believe that is also one of their advantages with the all-rounded infrastructure of Huawei cloud. Yonyou is actually growing with Huawei cloud.”

    As the ecosystem partner of Huawei, Yonyou is also maximizing the resources shared by Huawei Cloud, including customer resources and partner resources, as well as technological advantages in this domain.

    Yonyou’s New Product Lines 

    Yonyou has also launched its latest business innovation platform, the Yonyou BIP, or business innovation platform. The company boasts that this is its next-gen cloud ERP product for overseas users.

    Yonyou BIP is the company’s new generation cloud product platform. BIP consists of two business lines: the first one is YonBIP, which mainly aims at larger-sized customers; and the second is YonSuite, which primarily serves small and medium-sized customers. With these new product offerings, the company is working with Huawei to provide personalized and customized services to its customers.

    “So Yonyou BIP is our new generation cloud product platform. It follows the 1+3+X architecture. 1 indicates the technological platform, and 3 indicates the application in 3 domains, including human resources, financial services and supply chain. And X actually indicates our ecosystem, and it includes more than 10,000 ecosystem partners who work together with Yonyou to provide services to customers,” Guo.

    Guo stresses that their latest product developments allow for the acceleration of digital transformation of their partners and customers.

    Furthermore, Yonyou has also built a new data center in Singapore to support the business development of Yonyou BIP and help the company respond to some issues or challenges in Southeast Asia.

    Guo explains, “And now, we can provide better, localized cloud services to serve our customer segments in this region better. And then, we can better link or work with our ISV partners. These ISV partners can provide better-localized services. So, in addition to globalization, we must focus on localization. So, with the joint collaboration with the ISV partners, we can better comply with the local accounting rules or the human resources policies like the labor laws in the regions.”

    With 11 certifications from worldwide security authorities such as ISO 27001, EAL3+ and CSA STAR, Yonyou has largely enhanced data security and strengthened data storage capability by data deployment overseas. And Yonyou says that this, with the help of Huawei Cloud, will deliver reliable and secure cloud service to global customers.

  • Telin and Zenlayer to Deliver On-Demand Subsea Cable Services to Indo-Pacific

    Telin and Zenlayer to Deliver On-Demand Subsea Cable Services to Indo-Pacific

    PT Telekomunikasi Indonesia International (Telin), the largest telecommunications company in Southeast Asia, and Zenlayer, a massively distributed edge cloud service provider, signed a memorandum of understanding for joint development of a digital connectivity platform that provides on-demand subsea cable services.

    The joint development will combine the strong capabilities of both parties. As Telin continues to invest heavily in global subsea cable services, especially in the Indo-Pacific, Zenlayer’s platform will further digitize the service delivery for carriers, hyperscalers and global enterprises.

    “The fast-growing internet economy in the Indo-Pacific area has made the need for connectivity stronger than ever before. Here at Telin, we’re committed to optimizing our global infrastructure and enhancing our products and solutions to meet the rising market demands,” said Budi Satria Dharma Purba, CEO of Telin. “Zenlayer’s massive global scale and advanced technology to build on-demand, easy-to-use edge cloud platform makes them a perfect partner for our digital transformation. We look forward to helping more businesses connect into Southeast Asia and local companies expand globally.”

    “We are thrilled to power Telin’s digital transformation with our technology,” added Joe Zhu, CEO and founder of Zenlayer. “Through deep product integrations, we will bring a full suite of on-demand cloud networking services to mutual customers and take their user experience to an entire new level.”

    The partnership is a new milestone in the long-lasting relationship between the two companies. Since 2017, Telin and Zenlayer have had collaborations over edge data center and cloud networking services. Earlier this year, MDI Ventures, the investment arm of Telkom Indonesia, led the C+ round of investment in Zenlayer, further solidifying the latter’s position as the number one edge cloud service provider in the region.

    A leader in edge cloud, Zenlayer has the most robust infrastructure presence in the world’s fastest growing economic regions. The company has a strong commitment to Southeast Asia, with 62 edge nodes and extensive partnerships built in the region. It has helped numerous global businesses tap into the massive potential of the area with its high-performance compute and networking services.

  • Samsung launches a duo of rugged devices in the US

    Samsung launches a duo of rugged devices in the US

    Samsung introduced two rugged devices a few months ago, the Galaxy XCover6 smartphone and the Galaxy Tab Active4 Pro tablet, but they were not available in the United States at launch. Today, the South Korean giant announced both devices are now available for purchase in the US.

    These products have their own niche target, which seems large enough to convince Samsung to continue expand its offering of rugged phones and tablets. Since we previously reported about the Galaxy XCover6 and Galaxy Tab Active4 Pro, here is a short recap in case you need a reminder.

    If you’re looking for a durable smartphone, the Galaxy XCover6 definitely delivers. It’s Samsung’s most advanced rugged phone, but don’t expect the same level of power as the company’s top-tier lineups. It’s safe to say that the Galaxy XCover6 is a standard mid-range phone in a very solid, durable body.

    Under the hood, the Galaxy XCover6 packs a 2.4GHz octa-core Qualcomm Snapdragon 778G 5G processor, paired with 6GB RAM and 128GB internal storage. It’s a fairly standard specs list for an above average mid-tier phone, so the Galaxy XCover6 might appeal to other types of customers too.

    The massive 6.6-inch PLS LCD display supports FHD+ resolution and features Corning Gorilla Glass Victus+, the latest type of panel protection in the industry. The latter should provide enough scratch and damage resistance to save your phone from being destroyed in some extreme cases.

    According to Samsung, the phone is MIL-STD-810H compliant to withstand extreme altitudes, temperatures, vibration and humidity. The Galaxy XCover6 can also withstand drops of up to 1.5m and is IP68 rated for dust and water resistance.

    Long gone are the days when every rugged phone looked like a brick. The Galaxy XCover6 isn’t the thinnest phone on the market, but it’s pretty sleep at just 9.9mm. However, this is a pretty heavy device, at least in comparison with Samsung’s flagships.

    The XCover6 weighs in at 235g, whereas the Galaxy S21 is much lighter at 167g. On the bright side, in case of extreme conditions, your Galaxy XCover6 is more prone to survive rather than the much more expensive Galaxy S21, so each has its strengths and weaknesses.
    When it comes to camera, let’s say the Galaxy XCover6 is pretty decent. The phone sports a dual camera setup (50MP+8MP) and a 13-megapixel selfie snapper. A 4,000 mAh keeps the lights up, which should provide enough juice for a few days of average usage.

    Moving on to the Galaxy Tab Active4 Pro, this feels like the tablet version of the Galaxy XCover6, at least on paper. Obviously, the tablet is going to have a larger display and battery, but much of the other specs will be the same.

    For starters, the tablet is powered by the same Qualcomm Snapdragon 778G 5G CPU and has the same memory configuration, 6GB RAM and 128GB storage. However, the Galaxy Tab Active4 Pro is also available in a cheaper 64GB version if you can’t afford the 128GB model.

    As far as the display goes, the Galaxy Tab Active4 Pro’s 10.1-inch TFT LCD display with FHD resolution is protected with Corning Gorilla Glass 5, a slightly weaker type of glass than the one protecting the Galaxy XCover6.

    On the back, the rugged tablet features a 13-megapixel main camera, while in the front there’s a secondary 8-megapixel sensor. The large 7,600 mAh battery benefits from 15W fast charging, but that’s about all we know so far about its capabilities.

    Samsung Galaxy Tab Active4 Pro shares the same rugged features as the Galaxy XCover6, including MIL-STD-810H compliance and IP68 rating. However, since the Galaxy Tab Active4 Pro features Corning Gorilla Glass 5 instead of Victus+, it can “only” withstand drops of up to 1m, or 1.2m when using the included protective cover.

    If you haven’t guessed yet based on the name of the chipset powering these rugged devices, then we can confirm that they support 5G. Also, they ship with Android 12 out of the box and can be purchased in the US through Samsung’s Business store, Amazon Business, and Samsung’s tier one and two IT channel partners.

    Pricing for the Samsung Galaxy Tab Active4 Pro begins at $649, while the Galaxy XCover6 Pro does not have a price yet, but we do know it will be available in the US on October 20, through select carrier.

  • Berluti makes its Vietnam debut

    Berluti makes its Vietnam debut

    LVMH-owned Parisian shoemaker Berluti has expanded its footprint into Vietnam, opening its first store in Hanoi in partnership with local partner S&S Group.

    Located in the heart of Hoan Kiem district across from the famous Metropole Hotel, the Berluti Vietnam boutique follows the brand’s signature simple design dominated by wood and leather elements.

    After passing through the stripe pattern glass facade, customers are welcomed with a leather wall highlighting the brand’s ‘art of patina’ and a designed chandelier inspired by Vietnam’s tiered ‘rice ladder fields’.

    The store offers a full selection of Berluti’s men’s accessories, including shoes and leather goods.

    Founded in 1895 by Alessandro Berluti, the brand is known for its elegant craftsmanship and deep understanding of producing men’s footwear and accessories. Berluti has more than 60 boutiques across several markets, including South Korea, Mainland China, Hong Kong, Singapore and Japan.

  • Foodpanda starts delivering Lego kitsets in Asia in quickcommerce move

    Foodpanda starts delivering Lego kitsets in Asia in quickcommerce move

    Singapore-based e-commerce platform Foodpanda has partnered with the toy giant Lego to expand the region’s q-commerce marketplace.

    Lego says the partnership signifies the company’s entry into the q-commerce sector, which enables users to purchase Lego sets and have them delivered to their doorstep within 30 minutes.

    Customers in Malaysia and Singapore can buy Lego products through Foodpanda in the initial phase, with other markets likely to follow.

    “Entering the quick commerce market will make it more convenient for our customers to get Lego products and bring new opportunities for people to build and play together whenever and wherever they feel like,” said U-Fong Chua, SEA e-commerce head at Lego.

    With its own custom in-app storefront in Singapore, the Lego store will be highlighted on Foodpanda shops. At the same time, buyers in Malaysia can purchase Lego sets at a few Pandamart Cloud locations in Klang Valley and Seremban.

    Foodpanda stated that it had reached the milestone of digitalising 50,000 merchants around Asia, including supermarket chains, quick-service restaurants, drug stores, and fashion retailers. Through this agreement, Foodpand has opportunities for non-grocery categories to better meet the needs of customers for their everyday needs.

  • Electricity company Trungnam Group plans $500-mln bond issuance

    Electricity company Trungnam Group plans $500-mln bond issuance

    Energy developer Trungnam Group plans to issue US$500 million worth of bonds in the next three years to fund a number of projects until 2030.

    It is planning onshore and near-shore wind power plants that will almost triple its renewable energy capacity by 2026 from the current 1.6 gigawatts of mostly wind and solar energy, its management said.

    It will also bid for a 1,500-megawatt liquefied natural gas power project in the central province of Ninh Thuan next year.

    One of Vietnam’s largest renewable energy developers is mulling setting up a pilot green hydrogen plant with a capacity of 120-200 megawatts by 2025.

    Trungnam became the first private company to build a 500-kilovolt transmission grid in Ninh Thuan, and planned to donate it to the country, but the lack of legal provisions to support the transfer of a private asset to the government has put the deal on hold.

  • Asia Coffee-Vietnam market tepid ahead of new crop season, low supplies in Indonesia

    Asia Coffee-Vietnam market tepid ahead of new crop season, low supplies in Indonesia

    Coffee trading remained subdued in Vietnam this week due to a lack of beans, with traders awaiting the new crop season that starts next month.

  • UBS Partners With a US Investment Network

    UBS Partners With a US Investment Network

    UBS is teaming up with a network of alternative investment firms in the US that manages more than $300 billion in institutional assets.

    The US National Association of Investment Companies (NAIC), the nation’s largest network of diversely owned alternative investment firms, has signed up UBS as a partner. UBS will become a platinum sponsor of the Washington-domiciled NAIC to support its inclusive investing offering.

    Founded in 1971, the association counts more than 170 alternative investment firms that collectively manage more than $300 billion in institutional assets. NAIC member firms invest in more than 1028 portfolio companies worldwide, according to the association. As part of the sponsorship, UBS will support and participate in the NAIC’s virtual and in-person events and programs with NAIC member firms, partners, and investment plan and institutional decision makers.

    At UBS, we’re focused on driving more capital and investment to support diversity, equity, and inclusion, said Tom Naratil, president of UBS Americas and co-president of global wealth management at the firm. UBS and NAIC seek to build long-standing relationships with member firms, including high-performing diverse-owned alternative investment managers, the statement added.

    NAIC will introduce UBS to its member firms through virtual and in-person roadshows that will support UBS’ recently launched Inclusive Investing offering.

    Naratil will soon be ending his long career at the bank, retiring from UBS on October 3, when Iqbal Khan will take over as sole head of UBS’ flagship Global Wealth Management unit.

  • Rising Inflation and the Risk of Recession

    Rising Inflation and the Risk of Recession

    While various stimulus packages got the global economy through the short-term challenges of COVID-19, they were always going to cause difficulties in the medium term. Inflation has risen and recessions look likely, so how can investors respond effectively?

    The global economic system appeared to cope with the COVID-19 pandemic and its associated lockdowns. Individual policymakers took different approaches to their economies, each of which had different impacts at a micro level and there were winners and losers throughout the process, but, broadly speaking, the wind kept filling the economic sails and countries kept moving forward.

    Inflationary Risk

    Keeping economies buoyant was economically and politically expedient in the short term, but it carried a significant medium-term inflationary risk. The complications created by the events in Ukraine have piled further pressure onto an already fragile structure and as we approach the final quarter of 2022, many countries face levels of inflation not seen since the 1990s.

    There is a very real threat of a global recession in 2023. Traditionally, economic policymakers have used interest rates to bring down inflation, raising them to make it more attractive to hold money in the bank or invest in government bonds rather than keep spending.

    Interest rates have been at historically low levels for the best part of a decade, so there is plenty of scope for them to rise and this is likely to have a significant impact on investment decisions.

    Why is Inflation Important?

    The aim of investment is to either create or preserve wealth, which means that during periods of high inflation, investors need to ensure that their portfolios work harder to stop value from being eroded. The challenge is that inflation impacts different asset classes in different ways.

    Inflation has been very tightly controlled in the developed markets over the last couple of decades, so there is relatively little experience of dealing with it in the markets. Understanding how individual asset classes have responded to periods of high inflation can offer a good gauge for what might be expected to happen during what is set to be a very challenging couple of years.

    How Should Investors React?

    At the same time though, even if it doesn’t evolve into a full-blown recession, smaller companies struggle with cash flow during a downturn no matter how innovative their idea and flexible their setup. In many ways though, it is in the difficult times that ideas are tested, teams are forged and world-beating companies are built.

    This makes investment during challenging times all the more important and can make the potential returns all the more tantalizing.

    Making losses More Manageable

    Most investors have experience with the 60/40 (equity/bond) portfolios but this asset allocation is struggling in 2022. As of August 2022, a balanced portfolio is down close to -15 percent in dollar. When the markets become challenging, it is no secret that diversifying an investment portfolio tends to help spread the risk and potentially make losses more manageable.

    Asset managers such as the team at Petiole Asset Management tend to have access and for many years expertise in a wide array of asset classes in the private markets which can give them a broader view of potential investment opportunities to improve the risk-return profile of their whole portfolio.

    Change, Flexibility and Transparency

    The investment space has obviously changed significantly over the last 15 years, with new digital tools that offer a level of transparency and of reporting that would have been inconceivable a generation ago. These tools enable investors of all sizes to be far more inventive and flexible in their approach to their private asset portfolios.

    In a lot of ways, investing is like sailing a yacht: with a little practice, most people can quite happily take a boat around a calm bay on a clear day with a light wind and get something positive from the experience. If conditions change though, the skies darken and the wind picks up, then the inexperienced can quickly find themselves in trouble.

    And it doesn’t take years of experience to see that going into the financial markets is likely to be very challenging for at least the next year.

  • Vietnam crypto trading second highest in ASEAN

    Vietnam crypto trading second highest in ASEAN

    Vietnam is the second biggest cryptocurrency market in ASEAN behind Thailand with a transaction value exceeding $100 million a year, a new report has found.

    It was followed by Singapore, the Philippines, and Indonesia, according to a report by cryptocurrency data provider Chainalysis.

    Vietnam, along with Thailand and the Philippines, also record high web traffic to non-fungible token marketplaces, which could be explained by the large number of blockchain gamers, it added.

    An estimated 25% of Filipinos and 23% of Vietnamese have played a play-to-earn game, and at one point, players based in the Philippines made up 40% of Vietnam-based Axie Infinity’s playerbase.

    In an earlier report, Chainalysis said that this is the second year that Vietnam ranks highest in its cryptocurrency adoption index.

  • DHL allots €500m to boost contract logistics in India

    DHL allots €500m to boost contract logistics in India

    DHL Supply Chain (DHL) plans to invest €500 million in India over the next five years as it looks to grow its warehousing capacity, workforce and sustainability initiatives in the country.

    The company plans to own and operate large multi-client sites in India, adding 12 million square feet of warehousing space, to cater to growing sectors like e-commerce, retail, consumer, life sciences, technology, engineering and manufacturing as well as automotive.

    These warehouses will feature tech solutions like assisted picking robots, indoor robotic transport, intelligent process automation, wearable devices, voice picking, inventory management robots and algorithmic optimization..

    DHL will add 12 million square feet of capacity across wholly owned sites in key cities like Bangalore, Chennai, Kolkata, Mumbai, National Capital Region (NCR) and Pune. The company said multi-client sites are also being built in fast-growing state capitals and tier 2 cities like Ambala, Baddi, Cochin, Coimbatore, Guwahati, Sanand, Hyderabad, Jaipur, Indore, Lucknow, Bhubaneshwar, Hosur, and Visakhapatnam.

    DHL Supply Chain India will also open two new business support centers (BSC) in Bangalore and Pune within the next 12-18 months to support customer demand. The company runs three BSCs in Mumbai, Gurgaon and Chennai, providing 24/7 value-added services.

    “Asia Pacific currently accounts for about 15 percent of DHL Supply Chain’s global revenue but is among the fastest growing regions, with India being a key contributor to this growth. The Indian logistics market, worth over US$200 billion now, is expected to grow at about 10% per year in the next five years to reach around US$330 billion. We take a long-term view in India with businesses here having reasons to be optimistic,” said Terry Ryan, CEO, DHL Supply Chain Asia Pacific.

  • Changi knows it takes a community to be sustainable

    Changi knows it takes a community to be sustainable

    Lim Ching Kiat, managing director for air hub development at Changi Airport Group, shares his insights on sustainability as the airport looks to renew its commitment to making a sustainable Changi a reality.

    Can you share how the Changi Airport Group is contributing in making sustainable air transport a reality?
    Although airports account for only about 2 percent of global aviation emissions, we form the common platform upon which a multitude of aviation partners operate—from airlines and ground handlers to airport tenants and concessionaires. Apart from reducing Changi Airport Group’s own emissions by optimising the energy consumption of our terminal buildings, we actively engage the airport community in efforts towards a more sustainable Changi.

    To realise our common goals of making air transport (passenger and freight) sustainable, we need cleaner fuels to power aircraft, equipment on the ground, as well as to cool and light our terminal buildings. In this journey which will require innovation and effort, we focus on two broad thrusts.

    One is reinventing how our partners power their businesses, by supporting airlines’ and ground handlers’ transition away from fossil-based jet fuel and diesel respectively. We work closely with industry and regulatory partners on stakeholder engagement, as well as facilitate trials and studies on infrastructural needs to enable the adoption of sustainable aviation fuel (SAF), renewable diesel and electric ground service equipment. These include the conversion of internal combustion ground service equipment such as baggage tractors and forklifts to electric variants and provision of common-use charging ports.

    Then there’s reinventing how we power ourselves. Over 99 percent of CAG’s Scope 1 and Scope 2 emissions come from the use of electricity in operating our terminals. As such, we concentrate our efforts on raising building energy efficiencies through constant upgrading of our systems to the best-in-class energy efficient models. We also seek to expand on-site generation of solar energy, as well as tap potential renewable sources beyond the airport.

    There are also similar efforts by our air cargo partners. For example, dnata recently launched a 3.5 megawatt-peak rooftop solar power system across dnata’s cargo and catering facilities at Changi Airport. Some of our partners have started trialing solar-powered equipment at their premises. Specific to the cargo business, we are also facilitating closer industry collaboration through higher end-to-end supply chain visibility. We have put in place processes and protocols that could help improve the overall quality of the supply chain, which prevent degradation of products and reduce wastage. We have also launched initiatives to that attempt to reduce carbon emissions. One such example is the truck dock slot booking (TDSB) application introduced under the Changi Air Cargo Community System (ACCS). By evening out cargo lodgment and collection at the air freight terminals, the application provides greater insights to landside freight movement activities and lead to lesser truck waiting time, hence reducing carbon emissions.

    How important is the buy-in of cargo shippers and passengers to push forth with initiatives that will help reach a sustainable future for aviation?
    Global organisations are increasingly looking at sustainability factors when making business and supply chain decisions, and they are integrating these considerations into their business operations. Many have also pledged net zero carbon-emission commitments. To this end, they require the support of their suppliers and key stakeholders in the supply chain.

    The aviation industry will need a suite of solutions to address different aspects of our business and supply chain. Technology is a crucial enabler. The good news is that there are many solutions being developed, including carbon capture, which is the process of converting carbon dioxide in the atmosphere into feedstock for renewable energy, hydrogen produced in a sustainable manner, SAF etc. The challenge is ensuring scalability and commercial viability. To unlock the full potential of such emerging technologies, partnerships and collaboration across the supply chain stakeholders and among public and private stakeholders are critical. We will also need effective policies to balance the supply and demand of such emerging technologies.

    What are the recent developments that would lead to air cargo growth?
    Notwithstanding the current disruptive global events such as the Russia-Ukraine war and Covid-19 resurgences, we see some traditional and new business sectors driving positive long-term air cargo growth, especially in the Asia Pacific region. The drivers include pharmaceuticals, high-tech shipments and cross-border e-commerce. With the Regional Comprehensive Economic Partnership (RCEP) coming into effect, we can also expect a boost in regional trade, as well as logistics and distribution activities.

  • Shell Philippines to open Adidas and Starbucks stores in its gas stations

    Shell Philippines to open Adidas and Starbucks stores in its gas stations

    Pilipinas Shell Petroleum, the publicly listed Philippine arm of Shell Plc, plans to have retail shops and restaurants in a third of its gasoline refilling stations by 2025 as its seeks to boost revenues beyond fuel.

    That could drive non-fuel retail earnings to grow at least 15% a year and build an income stream that provides a quarter of sales, CEO Lorelie Quiambao Osial said in a Bloomberg interview. Shell wants 550 of its 1,300 to 1,400 stations in the Philippines in 2025 to have retail offerings that range from convenience stores to restaurants and shops like Jollibee, McDonald’s, Starbucks and Adidas.

    “We are transforming what you’d normally call petro retail stations into mobility destinations,” said Osial. “Before it’s motorists-driven. Now, it’s something for the passengers to enjoy as well.”

    Pilipinas Shell’s push to grow its non-fuel revenue while aggressively expanding its gas stations gained focus after it closed its refinery in 2020 and shifted to buy fuel supplies from abroad. The refinery’s closure made earnings more predictable and freed up resources to fund projects with higher yields, like building up its gas station footprint. Currently, a quarter of revenue is from non-fuel retail, Osial said.

    The five-year strategy, which started in 2021, costs about 3 billion pesos ($52.3 million) to 4 billion pesos annually. It calls for adding between 40 to 60 stations a year, to bring Pilipinas Shell’s network to up to 1,400 outlets and five mid-range oil terminals by 2025. The plan is a bet on rising personal income and petroleum demand in the Philippines, and expectations that the country’s “low motorization rate” will catch up with other markets, Osial said.

    Pilipinas Shell has also added electric-vehicle charging points at some of its stations in anticipation of a growth in EV use in the Philippines.

    Among the country’s biggest gasoline retailers, which also include Chevron Corp.’s local unit and the nation’s sole refiner Petron Corp., Shell Pilipinas has been making the biggest push into diversifying away from fuel in its gasoline stations since 2021, said Astro del Castillo, managing director at First Grade Finance Inc., an investment advisor and consultancy firm.

    “It could double this segment by 2025 considering that it’s just starting to aggressively penetrate this market,” he said.

    To further diversify income from fuel, Pilipinas Shell also plans to have 900 of its gas stations in 2025 provide oil change and car maintenance services, said Osial, who helped build Shell’s gas business when the global oil company returned to Iraq in 2013 and was tapped in 2021 to take charge of its Philippine retail operations.

    “There will be more offers on the non-fuel space,” Osial said. “Customer behavior is changing and it’s still evolving.”

  • Reliance Retail in talks to secure rights for Sephora

    Reliance Retail in talks to secure rights for Sephora

    Reliance Retail, run by Indian billionaire Mukesh Ambani’s conglomerate Reliance Industries Ltd, is in advanced talks to get the rights for beauty retailer Sephora in India, the Mint newspaper reported on Wednesday, citing two people familiar with the matter.

    Sephora’s operations will transfer from Arvind Fashions Ltd to Reliance Retail if an agreement is reached, according to the report. On Wednesday, Arvind Fashions’ shares on BSE rose 11% to Rs 327.55 apiece.

    Reliance, Arvind Fashions and Sephora did not immediately respond to Reuters’ requests for comment.

    Sephora, owned by French luxury goods group LVMH, has 25 stores in 13 cities in India with brands in categories such as cosmetics, fragrances, skincare, makeup and hair care, according to Arvind Fashions’ annual report for the financial year 2021-22.

    Reliance plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months and is hiring an army of distributors to take them to mom-and-pop stores and bigger retail outlets across the nation, sources had told Reuters in May.

    Earlier this year, Reliance had signed a long-term franchise deal with French fashion house Balenciaga and partnered with Gap Inc to sell the U.S. clothing retailer’s brands locally.