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  • The Relevance Of Customer Sentiment Analysis In Business

    The Relevance Of Customer Sentiment Analysis In Business

    Perception often becomes a reality in the business world. Perception has a habit of spreading like a forest fire through word of mouth. Therefore, it becomes essential to ensure that the perception of the customers and even non-customers towards your business is good. It has a direct impact on the credibility and reputation of the business. Even though perception is important, the real question is how can a business analyse customers’ perception of a business? The answer lies in customer sentiment analysis. 

    Just like we know, if someone has uploaded a Sad Status on their WhatsApp Status, the user is sad. Customer sentiment analysis allows the business to analyse how the customers feel about the business. With the analysis, a business can find whether the customer feels positively or negatively about the brand. 

    The Importance Of Customer Sentiment Analysis

    Customers are king for a reason. Their happiness and satisfaction matter for the growth of a business and there is no doubt about it. Research has indicated that a customer who has experienced a positive feeling while purchasing will tell an average of nine people about the experience. On the other hand, a customer who had a negative experience with a brand will tell 16 people about it. 

    In addition, customers with a positive experience will stay loyal to the business for more than five years compared to those with a negative experience. Further, the cost to serve a customer reduces by 33% when the customer experiences a positive feeling. It is why it is important to keep customer sentiment in check. 

    Customer sentiment analysis also throws light on customer loyalty and the customer lifetime value, which is essential to growing the business. 

    How To Do Customer Sentiment Analysis?

    If you are running a huge business, it is manually not possible to engage in customer sentiment analysis. Thankfully, there are software and tools that can automatically detect the customers’ sentiments through Natural Language Processing. 

    With the help of Natural Language Processing, it is possible to detect whether the customer’s sentiment is positive, negative or neutral. 

    The Benefits Of Customer Sentiment Analysis 

    The ultimate aim of any process involved in a business is to increase the profit for business. The same truth goes for customer sentiment analysis too. Here are a few benefits of customer sentiment analysis. 

    1. Better customer service 

    After experiencing bad service, most of the customers complained about it. There is a high probability that they will stop associating with the brand after the negative experience. However, it can be taken care of through customer sentiment analysis. After identifying the customers who have had negative experiences, the businesses can go ahead and provide them with better customer service by solving their business. Through this method, you can eliminate the negative experience of the customer. 

    2. Brand reputation management 

    Brand monitoring is essential, especially on social media platforms where everyone can view the comments. Through customer sentiment analysis, it is possible to monitor the mentions that a brand receives and is associated with negative emotions. Quick action towards it can help the brand to maintain its reputation. 

    3. Provides room for improvement 

    Customer sentiment analysis on the features of the product or services that require improvement. A sudden rise of negative mentions indicates a sudden need to fix an issue. Further, it helps the business better understand the customer’s requirements. 

    4. Hyper-personalized experience for the customer 

    Customer sentiment analysis can also be used to segment customers of your business based on their emotions towards the brand. It allows businesses to create hyper-personalized experiences and allows them to bring more sales. 

    5. Improved marketing and sales plan 

    With a new launch in the market, through customer sentiment analysis, it is possible to check whether the customers are experiencing any issues or not. Further, the reaction of the target audience can be measured. It gives the necessary data to the business for making any adjustment in the marketing or sales plan for the good. 

    Customer sentiment analysis is invaluable for any company. Every customer interaction provides room for growth for the business. The valuable information it provides makes it possible to improve the business and maximise profit. It is always wise to analyse customer sentiments and keep the brand’s image positive. 

     

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  • Why A Team Of IT Consultants Is Important For Your Business?

    Why A Team Of IT Consultants Is Important For Your Business?

    If you are not very familiar with the field of the internet and technology, it can be difficult to keep up with the latest trends and developments in the world of technology. Having a knowledgeable expert on your side can help your team stay ahead of the competition. By having an IT consultant team on your team, your team can gain access to all the important information that can help to beat the competition.

    An expert IT team that has a broad knowledge of various platforms and technologies in your field will provide your team with solutions that will help your business succeed. If you are getting double-minded about whether to hire an IT consultant team or not then these reasons might help you refine your decision:

    Integration Of Technologies

    A major benefit or reason for having an IT consulting team on your side is they can help with the integration of new and old technologies. Technology is becoming more and more complex due to which it is becoming difficult for many businesses to handle, integrate, and coordinate everything on their own.

    A team of IT consultants can help with the integration, upgradation, and usage of existing applications and systems. They can provide solutions to all of the compatibility and integration problems that may arise with new technologies. The team will most likely consist of IT experts who are familiar with the technologies and applications that are being used in the industry, so integrating new and existing technologies won’t be a problem for your company anymore.

    Cost-Savings

    Hiring a team of IT consultants also helps with cost savings. To stay up with the competition, an investment in new technologies and applications is required after every few years. Upgrading technologies and implementing new applications required specialized knowledge of different types of software and hardware along with familiarity with how these applications and technology work.

    An expert IT consultant team who has knowledge about the latest technologies being used in the industry will be able to help with everything, right from upgrading the technologies to training the staff members. There also won’t be any need to hire additional IT staff or hire an IT consulting firm as you will already have an expert IT team on your side.

    Prevention Of Loss In Employee Productivity

    You can also prevent a loss in employee productivity by having a team of IT experts on your team. If there isn’t a team of IT experts on your team then it can take only a computer crash or a network disruption to cause a major dip in the productivity of the entire office and these issues can happen at any time, sometimes in the mornings resulting in loss of productivity throughout the day.

    Even a problem with a PC program like Excel to PDF editor can cause a huge dip in the productivity of employees who have to work with digital documents. Without an IT firm, these problems can take hours to be resolved where you will need to call an IT consulting firm, ask them to come over, and resolve the problems, whereas, with an in-house team of IT consultants, these problems will be fixed in a few minutes. Whether it is a computer crash, a network issue, or a problem with the JPG to PDF Converter, these issues will be resolved quickly by an in-house team of IT consultants preventing a decrease in workplace productivity.

    Customer Satisfaction

    Having a team of IT experts on your side can also help with customer satisfaction. Often it is seen that when customers encounter a problem and no one in the company knows the fix to it or resolves it then they can get very frustrated. Customers don’t like doing business with companies that can’t even resolve their problems.

    By having an IT consulting firm on your side, all your technological needs will be taken care of and the problems that your customers will face will be taken care of. The reason why you will be hiring a team of consultants is to provide solutions for different technological problems and in this way, if your customers ever face any problem with technology at your company then it will be taken care of which will result in happy customers.

    New Business Strategies

    A team of IT consultants will also help with the growth of your business. Since they will be familiar with the technologies being used in the market, they will give suggestions to implement new technologies into your business operations. They will come up with new marketing strategies and how you can beat your competitors by using technology. Just having a team of IT consultants on your side, you gain a clear-cut advantage over your competitors. 

     

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  • How Can Your Business Reach A Larger Audience?

    How Can Your Business Reach A Larger Audience?

    Every business out there wants to reach a larger audience as it adds value to a company and helps to maximize profits. It is one of the ways by which businesses can increase their profits easily. Reaching a larger audience isn’t easy because you not only have to keep in touch with your already existing customers and provide them value but also provide value to potential customers. 

    Reaching a larger audience is all about playing your cards right and employing different techniques and strategies that will help you in achieving this goal. Mentioned below are some of the ways that can help your business reach a larger audience:

    Analyze Your Target Audience

    The first thing that you have to do in order to reach a larger audience is to analyze your audience first. This includes analyzing the age, occupation, and interests of your audience. After you have made an analysis of your audience, you would have to come up with different marketing tactics.

    After analysis, it is important to understand how you can attract your customers. If your audience involves both young and older people then you would have to come up with different marketing strategies because what might work for younger customers might not work for older customers. 

    Remember that while analyzing your target audience, you should never target everyone because not everyone will become your customer but you should reach out to as many people as possible to gather more data as it will help to get a better analysis report.

    Come Up With Unique Marketing Tactics

    The next way by which you can reach a larger audience is by adopting new marketing techniques and tactics that your competitors haven’t yet adopted. Every year new marketing tactics and techniques are developed due to new social media platforms. We are seeing new marketing techniques that are employed on different social platforms like Facebook, Instagram, TikTok, Omegle, etc. If your target audience consists mostly of the younger generation then social media is a great way to target them as you would find them more on social media platforms.

    But social media marketing has become so popular that everyone is using it. So how can you beat your competitors? Well, you can come up with unique strategies such as creating unique content for your social media handles that your competitors aren’t doing and coming up with a unique way that increases the user engagement with your social media handles. 

    Social media marketing is just one of the various ways to reach a larger audience. You can do your research and come up with unique ways of marketing that are not being used in your industry as it will help you to beat your competitors.

    Work With Social Media Influencers

    Another way of reaching a larger audience is working with social media influencers. Social media has actually become a very big deal and you can utilize the power of social media influencers to easily reach out to a larger audience. It is a widely used digital marketing technique where businesses pair up with influencers and ask them to promote their products or brand. It is an effective way of creating brand awareness, generating qualified leads, and converting those leads into sales.

    Although it is considered a bit expensive method of marketing, it has proven to be highly impactful. Keep in mind that before pairing up with an influencer, it is suggested that you determine the ROI of the influencer which can be hard to find but is not impossible. You can execute and manage your influencer marketing campaign on different social platforms like Instagram, Snapchat, Ometv, etc to reach a wider and larger audience.

    Run Giveaways And Organize Competitions

    Running giveaways and hosting competitions is also a way to reach a larger audience. Mostly online giveaways and competitions are known to be effective in creating brand awareness and boosting brand visibility, although a giveaway or competition doesn’t just have to be online, you can run offline fun competitions and giveaways too.

    Online giveaways will help create brand awareness for your business on the internet while offline competitions will help you to create a name for your brand in the local community where your business is based. Organizing giveaways and competitions give a huge boost to the visibility of your brand as it is exposed to more and more people.

     

  • What Are The Advantages Of Having A Web Portal For Business?

    What Are The Advantages Of Having A Web Portal For Business?

    In the world that we are living in, a business not having a web portal seems odd because the internet is an essential part of everyone’s lives. Some business owners still think having a web portal isn’t a rxquirement and these people can’t be more wrong. Having a strong web portal has become a requirement for the business industry where employees, customers, and partners can check their relevant data.

    A professional web portal can make a huge difference for your businesses and make it easier for customers to check up on their orders and for your staff members to work from anywhere and upload important files and documents at any time. So what edge does having a web portal give to your business and what are the advantages of having a web portal? Let’s find out:

    Improved Communication

    The first advantage that you get by having a professionally built and responsive web portal is that the communication is improved. Whether it is the communication between your employees, different departments, or between customers and staff members, it becomes easier with a web portal. A web portal becomes the go-to tool for communication instead of using any third-party solutions which aren’t as efficient as a portal built according to your company’s requirements. 

     

    A web portal that is usable by all your team members and customers makes communications easier for everyone just as the admin portal of a wireless router, accessible through 192.168.254.254 makes it easier for everyone to configure their network. In this age, communication holds utmost importance because proper communication can be the difference between a properly managed project and a poorly managed project.

    Faster Exchange Of Information

    Improved communication also means that through a properly built web portal the exchange of information occurs at a faster rate. A business can have multiple employees working in different roles who need quick access to the market data, special reports, and important company data. If your company has got a properly built web portal where employees can access the information on the go then it would be helpful for your business as they will be able to make quick decisions because of the faster exchange of information through the portal.

    This portal can also be beneficial for customers who can get access to their orders and the related information at a faster rate. In addition, if your customers happen to encounter any problem or need help regarding your products or services, it will be resolved at a much faster rate.

    Easy Accessibility

    One of the best features of a web portal is that it can be accessed from anywhere. Whether it is a staff member, a partner, or a client looking to access the portal, they can do it from anywhere in the world, from any device using the internet. This makes it easier for anyone to access the portal, make changes, see important information, and make changes accordingly.

    Flexibility

    A web portal also gives a specific advantage to the customer support staff. One of the biggest issues faced by the customer support staff is constantly switching between different applications to access the relevant information. This can sometimes make the customers angry as they don’t want to wait for such long times. As it wastes the time of the support staff too, in the long run, it isn’t productive and efficient.

    A web portal makes things easier for the customer support team as it provides the flexibility to access multiple applications from a single portal just as you can access multiple settings of your web router through the 10.0.0.1 web portal. No need of switching back and forth between multiple applications if you have got a properly developed web portal that provides flexibility.

    Tighter Security

    The safety and security of any company’s data are one of the top concerns and a properly, well-built web portal offers a high level of security to prevent any cyber attack or data breach. The safety and security of a company’s data is a major concern for its leaders because a security vulnerability or data breach can cause damage in millions. Spending once on a web portal will help you avoid these damages and not fall victim to any data breach.

    Staff Training Made Easier And Simpler

    A web portal also makes the training of new staff members easier. When all of the applications are available on a single platform and workflows are channeled through a single portal, it becomes easier to train new staff members since they will only have to master a single platform in order to get accompanied to the workflows. With a web portal, the whole process of new staff learning and training becomes a much simpler process.

    It is much easier to train people on a single platform than having to train people across different software and different applications. 

     

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  • AirAsia signs partnership with Skyports to explore air taxi feasibility

    AirAsia signs partnership with Skyports to explore air taxi feasibility

    AirAsia has announced that its Advanced Air Mobility division has signed a letter of intent with Skyports Infrastructure to explore the development of air taxi infrastructure in Malaysia. This is a development of a report from last March, where AirAsia Group CEO Tony Fernandes said that the company has plans to launch a flying taxi service by 2022.

    AirAsia’s Advanced Air Mobility is a dedicated unit of AirAsia Aviation Group, which is the aviation arm of Capital A. Meanwhile, Skyports is a developer of infrastructure for advanced air mobility (AAM), and the newly established partnership between both companies is seen as an important next step in setting up a fully operation vertiport network in the country.

    Unlike conventional airports used by traditional airline operators, a vertiport is dedicated to aircrafts that land and take off vertically. VTOL (vertical take-off and landing) aircraft, as they are called, require less room to operate, and AirAsia already announced last year that one of its future plans is to lease 100 Vertical Aerospace VX4 eVTOL (electric powered) from Avolon. The company also has its drone training program which has been extended to high-technology-related sectors.

    The VX4 features a powertrain with 1 MW of output and is said to be 100 times quieter than a helicopter. It’s capable of traveling at speeds of up to 325 km/h (202 mph), has a range of over 161 km (100 miles) and can carry five passengers (including one pilot).

    During the one-year partnership, both parties will focus on joint feasibility studies for the integration of air taxi vertiport infrastructure, the identification of potential vertiport sites, and the development of operational requirements and frameworks to ultimately implement a vertiport network in Malaysia – initial assessments will prioritise Kuala Lumpur.

    “Following the announcement of our venture into the urban air taxi service earlier this year, we have been working around the clock to explore its feasibility in Malaysia. This partnership with Skyports will accelerate the review of the infrastructure including vertical take-off and landing platforms in the country as well as strengthen our potential as a zero-emissions ultra-short-haul air travel provider in Southeast Asia,” said AirAsia Aviation Group chief safety officer and head of AAM Ling Liong Tien.

    “We are excited to be partnering with AirAsia, a powerhouse airline operator that brings great synergy to our work at Skyports. This partnership highlights the steady progress of AAM development and interest in Malaysia and the wider APAC region. With innovative and forward-looking partners like AirAsia, we will be able to take concrete steps towards the realisation of a safe, efficient and fully-integrated air taxi network which brings real benefits to the people and communities it serves,” commented Yun-Yuan Tay, head of Asia Pacific, Skyports.

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  • Apple forecasts faster sales growth, despite glum economy

    Apple forecasts faster sales growth, despite glum economy

    Apple on Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending, helping it top Wall Street expectations and forecast faster sales growth ahead.

    The Silicon Valley giant’s shares rose 3.5% after hours following the release of the results.

    Though macroeconomic indicators around the world are turning negative, Chief Financial Officer Luca Maestri told Reuters there had been no slowdown in demand for iPhones, the company’s biggest source of revenue.

    Phone sales in the fiscal third quarter rose 3% to $40.7 billion, when Wall Street had braced for a 3% decline. By contrast, the overall global smartphone market dropped 9% during the just-ended quarter, according to Canalys data.

    Apple’s loyal and relatively affluent customer base has enabled it to weather consumer spending dips better than other brands in the past, and the company’s latest quarterly results suggest a similar pattern emerging.

    Canalys Research analyst Runar Bjorhovde said, “Apple in that sense has a certain robustness that will allow it to be impacted less than a lot of its competitors.”

    The slumping economy is hurting sales of advertising, accessories and home products, Apple’s Maestri said in an interview, calling the units “pockets of weakness.”

    “Fortunately, we have a very broad portfolio, so we know we’re going to be able to navigate that,” he added.

    The results show Apple’s advertising business, which includes selling ads alongside news articles and app store search results, is vulnerable to marketing cuts just the same as rivals Snap and Meta Platforms.

    Parts shortages will continue to hamper Mac and iPad sales, Maestri said, though the impact has been easing. They cost Apple under $4 billion in sales in the quarter ended June 25, less than it had forecast. Maestri said the company expects the hit to diminish further in the current quarter.

    But Apple risks joining rivals in amassing an unsellable stockpile of tablets and PCs if more customers than expected hold off purchases due to rising inflation and interest rates.

    “In terms of testing the demand, you can’t really test the demand unless you have the supply,” Apple Chief Executive Tim Cook told analysts on Thursday. “And we were so far from that last quarter that we have an estimate of what we believe demand was. But it is an estimate.”

  • Accolade Wines named Supplier of the Year in Australian Drinks Awards

    Accolade Wines named Supplier of the Year in Australian Drinks Awards

    At the Endeavour Group Supplier of the Year Awards in Melbourne, Accolade Wines was named Supplier of the Year and Supply Chain of the Year.

    This award recognises the supplier that has demonstrated the agility and ability to problem solve and innovate in partnership with us across the supply chain.

    Like no year before, 2021 produced a spotlight on supply chain management. Building resilience into the supply chain and partnering with Endeavour, Accolade showed great capacity to persist, adapt and transform in the face of change.

    Andrew Clarke, MD Accolade Wines ANZ said: “Our number one imperative at Accolade is to be customer centric. We put the customer at the core of everything we do and, in a time, when a global pandemic has impacted the supply chain more than ever before, achieving this award means so much to us.

    “It has been a huge effort across every function of our business, right through the entire supply chain. From our world class winemakers creating amazing wines, to leading in category and consumer insights, being at the forefront of innovation, bold in our brand support and shopper initiatives, and progressive with our digital activation.

    “I am hugely proud of our team, and it is our promise to our customers that we will continue to create value in the way we partner and continue to deliver world-class products for consumers to enjoy.

    “We are building something special here at Accolade and I am proud to see what else we can achieve with our outstanding teams.”

    “The calibre of winners across a broad spectrum of areas – including sustainability, product development and brand activation – reflects the innovative and creative spirit of the broader drinks industry,” Endeavour Group’s Director – Buying & Merchandising Tim Carroll said.

    “After a two year break, it was fantastic to see our supply partners in person. We are already planning next year’s event and we can’t wait to do it all again,” he added.

    Accolade was also awarded Supply Chain of the Year Awards for its “great capacity to persist, adapt and transform in the face of change”.

  • Netflix has some great mobile games coming to Android and iOS in July

    Netflix has some great mobile games coming to Android and iOS in July

    Started more like an experiment late last year, Netflix’s mobile games program is slowly turning into a very appealing iniative. However, if you’re not into mobile gaming, nothing Netflix will add to its fast-growing collection of titles will convince you to play.

    But if you do play games on your phone, even if it’s just casually, and you’re also subscribed to Netflix, you’ll definitely want to check out the new games the streaming company added this month.

    Before Your Eyes promises to offer players an emotional ride in a fictional world where they must locate souls who have lived extraordinary lives and transporting them to the afterlife using the phone’s camera. It’s a much lighter take on Charon’s legend, Hades’ ferryman who carries souls of the newly deceased over the river Styx.

    For those who love casual games, Mahjong Solitaire is here to offer that respite that we all need after a long day of hard work. With more than 300 tile-matching puzzles, this table-top game is likely to offer players hundreds of hours of entertainment.

    Finally, Into The Breach is the perfect game for fans of the strategy genre. One of the best indie tactical strategy games, Into The Breach has players assemble of squad of pilots and mechs, each with unique traits and abilities, and take on alien enemies in turn-based battles.

    All three games are already available for free for all Netflix subscribers. They can be downloaded directly from within the Netflix app if you want to try them out.

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  • How the Philippines Is Heading Towards a Digital Future

    How the Philippines Is Heading Towards a Digital Future

    In the next three years, 5G connections across the globe will reach 400 million, according to a recent study by the Global Systems of Mobile Communications Association (GSMA).

    Its Mobile Economy Asia Pacific 2022 report suggests that 148 million of these connections will include the Asia Pacific, with 333 million new mobile internet users in the region.

    While among the countries that are still lagging behind its regional neighbors in terms of fast internet connectivity, the Philippines is now gearing up for large-scale projects supporting what its new leader envisions to be a Digital Philippines.

    Most recent data provided by GSMA indicates that the Philippines has been advancing on 5G technology compared to its regional neighbors. Using Speedtest Intelligence data, Singapore stood ahead of its regional neighbors on median 5G upload speeds, recording 246.01 in the first quarter of this year, while the Philippines logged a median download speed of 163.51 Mbps. It also showed that LTE performance in the country has improved, from 11.15 Mbps in the first quarter of 2021 to 15.53 Mbps in the same period of 2022.

    Despite the improvements in internet connectivity, the country still sees some crucial challenges, including the growing digital divide among Filipinos.

    In light of the recent political transition in the country, how does it plan to bridge this gap as it moves forward towards a more innovative future?

    President’s Goal to Digitalize the Philippines, Bridge Digital Divide

    During his first State of the Nation Address, Philippine President Ferdinand Marcos Jr. stressed his goal to digitalize the country including government processes, as well as to enable universal connectivity. These are part of his plans to boost the development of the digital economy as a way to stimulate economic recovery from the pandemic.

    Latest data from Statista.com shows that, as of February this year, the Philippines has 79.6 million internet users, a 72.7% internet users penetration.

    The President stated in his speech, “As the world moves into rapid digitalization, the digital divide will be more pronounced. The depth and breadth at which these technologies will be transformative in our lives is fully expected.”

    He said that he sought the help of the country’s ICT chief to deploy digital connectivity across various islands in the country.

    In response, DICT Secretary Ivan John Uy told a local news agency that areas underserved by telecoms companies will be covered by a satellite-based internet to be provided by SpaceX’s Starlink, with availability expected by the end of this year.

    President Marcos further noted, “All relevant modes of digital transport should be utilized. These may be through a combination of terrestrial or submarine fiber optics, wireless, and even satellite technology.”

    Marcos added that they will address connectivity challenges by implementing two of the government’s priority measures, including the common tower plan that will allow telecom and internet service providers to share towers. And another is the National Broadband Plan that aims to fast-track the development of the Philippines’ network infrastructure.

    He said that the Philippines cannot just “stand idly by” amid the scale and speed at which all these technological changes are happening across the globe.

    Local Telecom and ICT Operators Pledge To Support Government’s Plans

    President Marcos’ plans were welcomed by major telecom operators and those from the information and communications technology (ICT) sector, who have expressed their support and commitment to the new administration’s goal to have a more innovative and technologically advanced economy.

    Among them is the PLDT Group, who expressed their willingness to cooperate with the President’s roadmap towards economic growth. In a statement, PLDT and Smart President and CEO Alfredo S. Panlilio said, “We support the government’s thrust to connect our countrymen and make sure that no Filipino is left behind as the world becomes more digital.”

    He added, “We are also prepared to assist in the government’s digitalization efforts, empowering its vision of an agile bureaucracy that is responsive to the needs of the public.”

    With President Marcos’ aim to employ digital solutions in order to streamline public services across government agencies nationwide, PLDT Group also said that it has continued to broaden the reach and capacity of its fiber infrastructure, which now allows its fiber-to-the-home services to be extended to upland areas in the country.

    It also continues to invest in its network, with 518.5 billion pesos spent in the last decade up to 2021.  Network-related projects accounted for the bulk of the 89 billion pesos spent for 2021. Capex guidance for this year is 85 billion pesos.

    Meanwhile, PLDT Group’s major industry competitor, Globe Telecoms, has also echoed the same response to the new Philippine leader’s call for a digital economy.

    The company affirmed its support of the government’s goal to digitalize government processes and deliver universal connectivity nationwide.

    Globe’s President and CEO, Ernest Cu said, “The administration can count on the universe of Globe’s digital solutions– from new technologies our core telco business offers to our portfolio companies in fintech healthtech, edutech and more– to provide innovative services to make its digitalization and connectivity goals a reality.”

    The CEO and Co-Founder of Converge ICT Solutions also pledged support to the government’s plans for universal connectivity. Dennis Uy said in his statement, “We’re pleased that the new administration is prioritizing universal connectivity, especially at this critical time when digitalization is at the heart of everything that we do. Converge is supportive of this initiative, as we push for digital democracy in the Philippines.”

    Converge boasts its nationwide rollout of fiber network, which has now reached 12 million homes as of the first four months of this year. As of March, 645,000 fiber ports were installed in the country.

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  • US becomes biggest buyer of Vietnam smartphones

    US becomes biggest buyer of Vietnam smartphones

    The U.S. has surpassed China to become the biggest buyer of smartphones and parts from Vietnam in the first six months with a purchase value of $6.61 billion, up nearly 54 percent year-on-year.

    It was followed by China at $6.45 billion, up nearly 17 percent, according to Vietnam Customs.

    Exports of smartphones and parts to the EU fell 7.7 percent to $3.3 billion.

    Vietnam’s top import market of smartphones and parts was South Korea at $5.1 billion, up 28 percent year-on-year.

    It was followed by China at $4.2 billion, down 0.1 percent.

    Vietnam’s exports of these items to all markets reached $29.17 billion in the first six months, up 16.4 percent year-on-year.

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  • Sabeco posts biggest quarterly profit since acquisition by Thai firm

    Sabeco posts biggest quarterly profit since acquisition by Thai firm

    Vietnam’s largest brewer Sabeco reported post-tax profits of VND1.79 trillion ($76.6 million) for the second quarter, the highest since ThaiBev acquired it in 2017.

    It represented a 67 percent increase year-on-year, while revenues were up 25 percent to VND9 trillion.

    The management said the lifting of social distancing restrictions, resumption of tourism and a general rise in consumption helped boost sales.

    Profits for the first six months were VND3.03 trillion, 66 percent of the full-year target.

    Thailand’s largest beverage company bought a 54 percent stake in Sabeco, the maker of Saigon Beer, five years ago.

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  • Remove 14,100 MW of coal plants from plan

    Remove 14,100 MW of coal plants from plan

    The Ministry of Industry and Trade wants coal-fired plants with a capacity of 14,120 megawatts scrapped from electricity production plans for Vietnam to achieve net-zero emissions by 2050.

    The plants were included in Power Development Plan 7 (for 2011-20) and have not been built due to delays. Now, the ministry does not want them to be part of Power Development Plan 8 (for 2021-30), which is being drafted.

    The ministry also wants to reduce the ratio of coal-fired power sources from 25-31 percent in 2030 to around 10 percent in 2045.

    No new coal-fired plant should be built after 2030, it said.

    It wants to increase output from LNG-fueled and renewable plants to offset the cut in coal use.

    It targets having 12,000-15,000 MW of renewables and 14,000 MW of liquefied natural gas plants in PDP 8.

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  • Vietnam main securities exchange continues to use FPT trading system

    Vietnam main securities exchange continues to use FPT trading system

    The Ho Chi Minh Stock Exchange will continue to use the trading system developed by FPT while waiting for a replacement from South Korea, Ministry of Finance and bourse officials said.

    The system developed by FPT Information System, a subsidiary of the tech giant, in July last year helped cope with the trading load that had become unsustainable for around half a year.

    It increased the capacity of Vietnam’s main exchange from 900,000 transactions a day to five million.

    On November 19 last year the largest ever number of transactions of 1.84 million was recorded, or just a third of what the system could handle, Dang Truong Thach, deputy director of FPT IS, pointed out.

    Deputy Minister of Finance Nguyen Duc Chi said its replacement, KRX, is being developed in South Korea and seen rapid progress.

    “It will be ready within months.”

    It is being developed under a VND600-billion (US$25.69 million) deal signed in 2012 between HoSE and the Korea Exchange.

    It will allow odd-lot trading and a T+0 settlement cycle (meaning investors will receive their shares or money on the day of trade instead of two days later).

    For the last 10 years HoSE has repeatedly been missing deadlines for installing a new system.

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  • Japanese retailer Yoshitsu buys Tokyo Lifestyle

    Japanese retailer Yoshitsu buys Tokyo Lifestyle

    Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, as well as other products in Japan, today announced that on July 20, 2022, the Company entered into a definitive agreement (the “Agreement”) with All Seas Global Limited to acquire 100% equity interests in Tokyo Lifestyle Limited (“TL”), a company principally engaged in the import and retail of Japanese beauty and cosmetic products in Hong Kong and engaged in the live e-commerce business through its wholly-owned subsidiary, Shenzhen Qingzhiliangpin Network Technology Co., Ltd. (“SQNT”). This acquisition is a critical initiative of the Company’s business strategy to boost the Company’s business expansion in the Southeast Asia market and advance the digital transformation of live streaming e-commerce in its retail business.

    Pursuant to the Agreement, Yoshitsu agrees to acquire 100% of the equity interests in TL in consideration of the sum of JPY392,000,000 in cash (approximately US$2,805,192), subject to certain terms. The transaction contemplated by the Agreement was approved by the Company’s board of directors at a meeting on June 27, 2022, with the closing expected to occur by the end of July 2022.

    Mr. Mei Kanayama, the Principal Executive Officer of Yoshitsu, commented, “We are extremely pleased to take another initiative in Yoshitsu’s global business expansion. The capabilities of TL and SQNT and our expansion and digital transformation strategy are well matched. With the acquisition of TL, we expect to improve our operational efficiency and establish a solid foundation in Hong Kong to develop the Southeast Asian market further and strengthen our brand awareness in the region. SQNT is dedicated to cultivating key opinion leaders (“KOLs”), who are frequently approached by brands in the hopes that these KOLs will actively promote their products via online channels. The foregoing strategy is expected to improve our customers’ shopping experience and meet new market demands. We expect the acquisition of TL to strengthen our position in the marketplace and deliver higher value to our shareholders.”

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  • Google Maps unveils three new features, two are rolling out now

    Google Maps unveils three new features, two are rolling out now

    Google released a blog post today explaining how three updates are coming to Google Maps just in time for the warmer months. As the gang in Mountain View wrote, “If the warmer months have you feeling extra inspired — and excited — to get outside and explore with friends, Google Maps can help you transform the way you coordinate plans and stay connected this summer and beyond. Whether you’re checking out top landmarks in a new city, planning to hop on your bike, or hanging out with friends around town, these updates have you covered.”
    To help you plan your summer trips, Google Maps is adding what it calls “photorealistic aerial views of nearly 100 of the world’s most popular landmarks in cities like Barcelona, London, New York, San Francisco and Tokyo.” This is the first step, Google says, toward launching Immersive View which combines AI with Street View, aerial, and satellite images.
    Google previously wrote about Immersive View back in May and explained how it allows users to “fly” above an area to see what it looks like at different times of the day. You can then “glide” down to street level and “peek” inside bars and restaurants to get a look at the atmosphere inside. It’s an exciting new technology that Google is bringing to its iconic app.

    Google says that worldwide, bicycling is up 40% which it notes is no surprise given the warmer weather and the higher gas prices. For over 12 years, Google has provided Maps users with cycling directions based on data from cities combined with AI. With Google Maps’ new bicycle route information, you’ll be able to compare different paths. The data will show you the elevation of the road or trail along your route and you’ll also know in advance if you will encounter heavy car traffic, stairs, or steep hills.

    The third and last of the three new updates is about location sharing notifications. Google explains how this works with a realistic scenario. “Say you’re headed to a concert with a group of friends. If they’ve already chosen to share their location with you, you can set a notification for the concert venue’s address so you can see when they’ve arrived and meet up quickly. You could also set a notification to see when they’ve left the venue — just in case you get split up.”
    To protect users’ privacy, these notifications can only be set for those who have agreed to share their location with you. As Google said, “The person who’s shared their location with you will receive multiple reminders to let them know — including both a push notification in the Maps app and an email, along with recurring monthly emails. As always, you’re in control: you choose to stop sharing your location or block someone from setting notifications altogether.”
    Two of the three new features are rolling out now on the iOS and Android versions of the Google Maps app. Those are the aerial view of landmarks, and the location-sharing notifications. The cycling route information will start rolling out in weeks in the hundreds of cities where cycling directions are made available.
    Google Maps is the default mapping and navigation app on Android and while Apple has its own Apple Maps app, Google Maps can be installed from the App Store for the iPhone. If for some reason you don’t have the app on your Android device, you can get it from the Google Play Store by clicking on this link.
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