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Tag: asia

  • Global Telecom Equipment Revenues Fell 11% in 2024

    Global Telecom Equipment Revenues Fell 11% in 2024

    This indicates the largest annual decline in over 20 years, with a decline of over 20% seen back in 2002. This has led to a total equipment revenue decrease of 14% over the past two years.

    The decline was widespread across telecom segments and was influenced by factors such as excess inventory, a challenging macro environment, and tough 5G comparisons. In the fourth quarter of 2024, growth in North America and Europe, the Middle East, and Africa (EMEA) helped stabilize the market, offsetting weak demand in the Asia Pacific, including China.

    The decline in 2024 varied across the six telecom segments. Optical transport, SP routers, and RAN experienced double-digit contractions, shrinking by 14% collectively. Microwave transport and MCN experienced a more moderate decline in the low single digits, while broadband access revenues remained relatively stable.

    Regional trends in 2024 were mixed. While all five regions—North America, EMEA, Asia Pacific, China, and the Caribbean and Latin America (CALA)—experienced slow growth, the decline was most significant in the broader Asia Pacific region due to challenging conditions in China and other parts of the Asia Pacific.

    Globally, supplier rankings remained mostly unchanged; however, revenue shares shifted slightly. For example, Huawei’s revenue share outside of China increased by 2-to-3 percentage points (PP) in 2024 compared to 2021.

    Market concentration remained stable, with the top eight suppliers making up around 80% of the global market in 2024. Market conditions are expected to stabilize in 2025, although it will still be a challenging year. Analysts predict that global telecom equipment revenues across the six sectors will remain flat.

  • Scaling Infrastructure to Support AI Growth in Japan, Indonesia, and Singapore

    Scaling Infrastructure to Support AI Growth in Japan, Indonesia, and Singapore

    Nationally, projections indicate that AI investments in APAC are expected to reach USD 110 billion by 2028, growing at a compound annual growth rate (CAGR) of 24.0% from 2023 to 2028.

    As AI technologies become integral to various sectors, the demand for scalable infrastructure has intensified. Organizations are increasingly investing in compute and storage hardware to facilitate AI deployments, with spending reaching USD 31.8 billion in the first half of 2024—a 37% year-over-year (YoY) increase. This trend highlights the necessity for robust infrastructure capable of supporting complex AI workloads.

    Developing AI-ready infrastructure in APAC presents unique challenges. Macroeconomic factors such as rising interest rates, supply chain constraints, and escalating construction material costs have made it increasingly difficult to bridge the funding gap necessary for building new data center capacity. Securing essential resources like land, power, and water supplies further complicates these efforts.

    As AI adoption accelerates worldwide, the need for powerful infrastructure to support AI-driven applications is becoming more pressing. Recognizing this demand, SoftBank has announced plans to repurpose a former Sharp LCD panel plant in Osaka, Japan, into a large-scale data center dedicated to AI operations. Developed in collaboration with OpenAI, the facility is expected to begin operations in 2026, with a robust power capacity of 150 megawatts, making it one of the largest AI-focused data centers in Japan.

    SoftBank’s decision to convert the defunct LCD panel plant into a data center aligns with its broader vision of positioning Japan as a hub for AI innovation. With an estimated initial investment of JPY 100 billion (USD 677.05 million) and a potential total investment nearing JPY 1 trillion yen (USD 6.77 billion), the project highlights the telecom giant’s commitment to scaling AI infrastructure.

    AI development requires immense computational power, with models like OpenAI’s GPT series relying on extensive data processing, high-performance graphics processing units (GPUs), and robust networking infrastructure. The Osaka data center is designed to meet these demands by offering a 150-megawatt power capacity to support high-density computing environments optimized for AI model training and inference. It will also enable businesses to leverage AI models tailored to their industry-specific needs, fostering AI adoption in Japan’s corporate sector. Additionally, given the growing concerns about AI’s energy consumption, the facility may incorporate advanced cooling and power efficiency solutions to ensure sustainable operations.

    Furthermore, Elon Musk’s xAI and Nvidia have joined the AI Infrastructure Partnership (AIP), a multibillion-dollar investment fund backed by BlackRock, Microsoft, and Abu Dhabi’s MGX, with an initial fundraising target of USD 30 billion and plans to secure up to USD 100 billion, including debt financing. This collaboration is driven by the growing need to scale AI infrastructure, as the development and deployment of generative AI (GenAI) models requires immense computational power and energy resources.

    According to Nvidia CEO, Jensen Huang, the demand for AI infrastructure is surging, with data centers and energy projects struggling to keep pace.

    “The global buildout of AI infrastructure will benefit every company and country that wants to achieve economic growth and unlock solutions to the world’s greatest challenges.”

    AI models consume far more power than previous technological innovations, prompting concerns over energy sustainability. According to the International Energy Agency, data centers’ global electricity consumption could surpass 1,000 terawatt-hours by 2026 (more than twice the amount used in 2022).

    The race to scale AI infrastructure has intensified, with Microsoft alone pledging USD 80 billion in capital expenditures (CapEx) this fiscal year to expand its data center footprint. This move follows the launch of SoftBank and OpenAI’s Stargate Project, which aims to spend up to USD 500 billion on AI infrastructure development over the next four years.

    Indonesia’s commitment to AI development took a significant step forward with the launch of its National Strategy for Artificial Intelligence (Strategi Nasional Kecerdasan Artifisial) in 2020. This long-term initiative, spanning 2020 to 2045, is designed to position Indonesia as a regional leader in AI innovation and application. President Joko Widodo’s strong stance on AI’s transformative potential—emphasizing that whichever country “controls AI can potentially control the world”—has driven the government’s proactive approach to fostering AI growth.

    A core element of Indonesia’s AI strategy is its emphasis on infrastructure development to support AI innovation and adoption across multiple sectors. Recognizing that AI thrives on robust digital infrastructure, the government has accelerated efforts to expand high-speed internet access, cloud computing capabilities, and data center availability. The Making Indonesia 4.0 initiative, which serves as a broader framework for the country’s digital transformation, integrates AI infrastructure expansion with industrial automation, biotechnology, and smart manufacturing. Furthermore, Indonesia’s push to roll out 5G networks, particularly in major urban centers, is playing a crucial role in facilitating AI-driven solutions such as smart cities, autonomous systems, and advanced analytics in governance and business.

    The Bukit Algoritma (Algorithm Hill) project in Sukabumi, West Java, further exemplifies Indonesia’s commitment to AI-driven infrastructure. This 888-hectare technology hub, inspired by Silicon Valley, aims to be a center for research and innovation in AI, quantum computing, neuroscience, and digital technology.

    Indonesia’s AI strategy has also facilitated partnerships between the public and private sectors, accelerating the integration of AI into real-world applications. The Jakarta Smart City initiative, which deploys AI-powered solutions for urban governance, mobility, and security, showcases Indonesia’s ability to leverage AI for improved public services.

    Singapore’s National AI Strategy 2.0 (NAIS 2.0), launched on December 4, 2023, has placed infrastructure development at the heart of its vision for AI-driven growth. Recognizing the critical role of high-performance computing (HPC), data centers, and cloud ecosystems, NAIS 2.0 lays the foundation for a sustainable and scalable AI infrastructure. A prime example of this initiative is the Singapore Cloud Region, which features cutting-edge, liquid-cooled, high-density data centers equipped with NVIDIA HGX H100 and L40S clusters.

    This advanced setup ensures that businesses and researchers have access to powerful, energy-efficient AI computing resources. Additionally, NAIS 2.0 aligns with Singapore’s goal of becoming a regional AI hub, emphasizing cross-border connectivity and AI-driven collaboration across Southeast Asia. With ST Telemedia Global Data Centres and Sustainable Metal Cloud (SMC) at the forefront of this infrastructure push, Singapore is not only expanding AI accessibility but also ensuring its AI ecosystem is cost-effective, energy-efficient, and globally competitive.

    Beyond Japanese, Indonesian, and Singaporean initiatives, the ASEAN Guideline on AI Governance and Ethics and the establishment of the ASEAN Working Group on AI (WG-AI), mark a significant step toward fostering cross-border collaboration and infrastructure development to support AI growth.

    The ASEAN Guide on AI Governance and Ethics, launched during the fourth ASEAN Digital Ministers’ Meeting on February 2, 2024, offers a structured framework to help organizations navigate AI integration while balancing innovation and regulation. The guide emphasizes the necessity of financial and capacity support for businesses, reinforcing ASEAN’s commitment to establishing a robust AI ecosystem.

    Complementing this initiative, the newly formed WG-AI aims to facilitate regional cooperation, ensuring interoperability among national AI frameworks and enabling a unified approach to AI governance.

    As AI adoption accelerates in Japan, Indonesia, and Singapore, scaling infrastructure is essential to sustain this momentum. Nations that foster collaboration between governments, tech firms, and research institutions will be well-equipped to build resilient, future-ready ecosystems that drive innovation and economic growth in the AI era.

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  • Synlait Milk returns to profitability as sales soar

    Synlait Milk returns to profitability as sales soar

    Synlait Milk swung back to profitability amid a double-digit increase in sales during the fiscal first half.

    The company’s revenue for the six months ended January 31 jumped 16 percent to NZ$916.8 million. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 217 percent to $63.1 million, and net profit after tax (NPAT) rose 105 percent to $4.8 million.

    Management attributed the improvements to an uplift in advanced nutrition demand, optimisation of North Island operations, higher commodity prices, and cost management.

    At the end of the half, the company reduced its net debt by 29 per cent to $391.9 million.

    “Given the position Synlait was in 12 months ago, this return to profitability is a considerable commercial achievement,” commented acting CEO Tim Carter.

    “Today’s result was delivered through a focus on getting the fundamentals of our operational performance right, seizing opportunities to deliver for customers, and continued cost control.”

    For the second half, Synlait expects financial progress to be slower as it balances opportunities and risks related to milk stream returns and foreign exchange. The company targets a closing net debt balance of $250 million to $300 million at the end of the year.

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  • Campari sells stake in whisky brand, Howler Head

    Campari sells stake in whisky brand, Howler Head

    Campari Group has sold its stake in the whisky brand Howler Head to Infinium Spirits, a US-based owner of premium spirits.

    Financial details of the transaction were not disclosed.

    Campari Group bought a 15 per cent stake in the banana-flavored Bourbon business for $15 million in August 2022.  According to the company, the acquisition of Howler Head is significant for Infinium Spirits, which is expanding its presence in more than 75 countries.

    “We are excited to welcome Howler Head to the Infinium family,” said Jan Tharp, president of Infinium Spirits.

    “Howler Head embodies the innovative spirit that Infinium represents, and we’re eager to take this incredible brand to new heights, both in the US and around the world.”

    Infinium Spirits, founded in 2005, is a family-owned spirits company situated in San Diego, California. Infinium concentrates on developing and expanding its premium and creative spirits portfolio through unrivalled sales, marketing, and distribution capabilities.

    Last year, former CEO of Campari Group Matteo Fantacchiotti resigned after five months in the role.

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  • Thailand to tax influencers and online sellers

    Thailand to tax influencers and online sellers

    The Thai Revenue Department has urged social media influencers and online sellers to file their annual income tax by the end of March to avoid fines and penalties.

    Director-General Pinsai Suraswadi expressed concern that many young earners, including e-commerce vendors, influencers, and product reviewers, have never filed income tax returns.

    Thailand’s e-commerce platforms, such as Shopee, Lazada, and TikTok, host around 3 million online sellers, while an estimated 2 million full-time influencers and content creators generate billions in revenue. A recent survey found that many in this group, particularly younger individuals, fail to report their earnings or pay taxes.

    Pinsai warned that the Revenue Department can audit records up to five years back and that failure to file tax documents will lead to penalties. However, he reassured earners that filing errors can be corrected.

    A study by Tellscore, FutureTales LAB, and the Thailand Institute for Mental Health Sustainability (Tims) estimated that Thailand’s content creator industry contributes at least THB45 billion (US$1.25 billion) annually to the economy.

    The country has around 2 million full-time content creators, rising to 9 million when part-time creators and “micro-influencers” are included.

  • Finnair and DB Schenker join forces in reducing GHG emissions for cargo transport

    Finnair and DB Schenker join forces in reducing GHG emissions for cargo transport

    Finnair and DB Schenker have initiated their sustainability collaboration by signing an agreement for DB Schenker to purchase nearly 400 tons of scope 3 CO2e reductions, equaling approximately 120 tons of sustainable aviation fuel (SAF) from Finnair. Both companies are committed to increasing the use of sustainable aviation fuel to reduce the greenhouse gas (GHG) emissions related to air cargo transport. Sustainable aviation fuel (SAF) is a safe, certified, and renewable alternative to fossil jet fuel that we can use today to reduce the climate impact of air cargo transport.  SAF can reduce greenhouse gas emissions by up to 80% over the fuel’s life cycle compared to using fossil jet fuel.

    Finnair has set a science-based target to reduce its carbon emissions intensity (CO2e/RTK) by 34.5% by 2033 from a 2023 baseline. The target has been validated by the Science Based Targets initiative (SBTi). Like others in the industry, Finnair is aiming towards net-zero emissions by 2050.

    “Our toolkit for reaching the target comprises investing in sustainable aviation fuels beyond regulatory requirements, further improving operational efficiency, optimizing our network, and investing in new aircraft technology. This agreement with DB Schenker marks an important milestone in our decarbonization efforts and we are thrilled to partner with such a pioneering company, placing key focus on this important matter. Air freight industry needs to address the climate challenge together, and partnering with like-minded stakeholders within the value chain is essential”, says Gabriela Hiitola, Senior Vice President, Finnair Cargo.

    By co-funding SAF with Finnair, DB Schenker receives a verified scope 3 emissions reduction certificate, proving its contribution to decreasing air cargo-related emissions.

    DB Schenker, one of the world’s leading logistics service providers, has been an early adopter of SAF since 2020 and seeks to steadily expand its portfolio of low-carbon air freight solutions to cargo shippers.

    “At DB Schenker, we recognize the urgency of decarbonizing air freight and are committed to driving meaningful change within the industry. Our collaboration with Finnair marks another step in scaling sustainable aviation fuel use to significantly reduce the industry’s carbon footprint. By investing in SAF, we are not only reducing our own carbon footprint but also empowering our customers with low-carbon air freight solutions”, says Björn Eckbauer, Senior Vice President of Global Operations & Procurement Air, DB Schenker.

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  • Thailand to lift 53-year ban on afternoon alcohol sales

    Thailand to lift 53-year ban on afternoon alcohol sales

    Thailand is set to ease its restrictions on alcohol sales and advertising in an effort to support the beverage industry and boost tourism.

    Lawmakers of the House of Representatives on Wednesday voted to approve an amended alcohol control bill, though it still requires Senate approval to become law.

    The bill is set to repeal a 1972 military decree that prohibits alcohol sales before 11 a.m. and between 2 p.m. and 5 p.m

    The new regulations will also ease advertising advertising restrictions, permitting the promotion of alcoholic beverages.

    Current laws prohibit displaying the names, trademarks, or images of alcoholic products for promotional purposes.

    Lawmaker Chanin Rungtanakiat, a deputy head of the house committee overseeing the Bill, stated that the amendments aim to reduce “unreasonable control” to encourage economic growth.

    These relaxed regulations follow a broader trend of loosening control over Thailand’s alcohol market, which has historically been dominated by a duopoly of Singapore-listed Thai Beverage Pcl and Boon Rawd Brewery Co.

    Earlier in 2025, legislation was passed to support liquor production by microbreweries and small distilleries.

    Thailand is implementing various measures to enhance its appeal as a key tourist destination. It is the only Asian country with legal marijuana and is also planning to legalize casinos.

    Prime Minister Paetongtarn Shinawatra announced in February that the government would review several alcohol-related restrictions that could impact tourism, such as the prohibition on alcohol sales on Buddhist holy days and through online platforms.

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  • Gasoline price up

    Gasoline price up

    Gasoline prices on Thursday increased after hitting a six-month low last week while diesel remained steady.

    The popular gasoline RON95 gained 2.24% to VND20,080 (US$0.79) per liter.

    Biofuel E5 RON92 added 2.13% to VND19,690.

    Diesel stayed at VND17,890, steady at the lowest since early October last year.

    Regulators said that fuel prices in the last seven days fluctuated due to a decline in U.S. gasoline and oil product inventories, renewed tensions in the Middle East, and uncertainty surrounding U.S. tax policies on goods from other countries.

    Gasolines dropped 2.7-2.8% while oils (except diesel) declined by 0.2-0.5%. RON95 is now at $80.8 per barrel and diesel at $84.1.

  • Dickey’s Barbecue Pit debuts in Manila

    Dickey’s Barbecue Pit debuts in Manila

    has opened its first location in the Philippines at Manila’s Parqal Mall.

    The two-story restaurant seats 90 guests and features a full bar and table service, blending Texas-style barbecue with Filipino flavours.

    The menu includes Dickey’s signature slow-smoked brisket, ribs, sausage, and locally inspired dishes such as pork belly, rice, and regional appetisers.

    Beyond Manila, the American barbecue chain is eyeing further expansion, with a second location planned for Clark, a former US Air Force base.

    “This is more than barbecue – it’s about sharing Texas culture and creating a gathering place for families and friends,” said Laura Rea Dickey, CEO of Dickey’s Barbecue Pit.

    “Barbecue is about bringing people together,” added the CEO. “We’re proud to share a true taste of Texas with the world – and Manila is just the start of something even bigger.”

    The Manila opening is part of Dickey’s broader expansion in Southeast Asia, following recent launches in Singapore, Japan, and Pakistan. Additional locations in Metro Manila are also in the pipeline.

    Since its launch in 1941, Dickey’s Barbecue Pit has expanded to more than 866 locations across the US and globally.

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  • Jollibee posts double-digit growth, boosted by coffee and tea brands

    Jollibee posts double-digit growth, boosted by coffee and tea brands

    Jollibee Foods Corporation (JFC) posted strong double-digit growth in 2024, with its coffee and tea brands playing a key role in driving revenue and profits.

    The company’s revenue rose 10.6 percent year-on-year (YoY) to US$4.7 billion, while EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased 17 percent to $295 million.

    JFC’s system-wide sales (SWS) climbed 13 percent YoY to $6.8 billion, supported by a 14 percent increase in the Jollibee brand.

    The Philippine market saw an 11.4 percent rise in SWS, with same-store sales growth (SSSG) of 7.9 percent. Internationally, Jollibee recorded 22 percent growth, led by Vietnam (16.8 percent), EMEA excluding Vietnam (11.6 percent), North America (8.1 percent), and China (13.2 percent).

    “The sustained growth of our business reflects the global strength of the Jollibee brand,” said Jollibee Group CEO Ernesto Tanmantiong

    “We also made significant progress in our coffee and tea segment, particularly with the acquisition of Compose Coffee, which expanded our store network to more than 5000 locations, 78 percent of which are franchised.”

    Meanwhile, JFC’s international SWS grew 17.6 percent, primarily driven by its coffee and tea brands.

    The Coffee Bean & Tea Leaf (CBTL) saw a 16 percent increase in sales, Highlands Coffee grew by 13 percent, and Compose Coffee—acquired in August last year—contributed 7.9 percent to international growth. Meanwhile, EMEA-based Philippine brands grew by 27 percent.

    Despite overall strong results, CFO Richard Shin said the company faced challenges in its China business, which declined 8.3 percent due to economic headwinds affecting consumer spending.

    “While same-store sales growth turned positive in the fourth quarter, we still need to strengthen daily sales and profitability in this segment,” he said.

    “Our focus remains on long-term growth and creating value for shareholders.”

    Looking ahead, JFC aims to accelerate its coffee and tea expansion, with plans to open 700 to 800 new stores this year.

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  • Costco is pressuring Mainland China suppliers to cut prices as tariffs loom

    Costco is pressuring Mainland China suppliers to cut prices as tariffs loom

    The Financial Times reported on Tuesday, citing two suppliers, that Costco Wholesale is pressuring mainland China suppliers to cut prices in response to US tariffs.

    This follows Beijing officials meeting with Walmart earlier this month to discuss media reports that the US retailer asked Chinese suppliers to slash prices to offset tariff impacts.

    Costco’s chief executive officer, Ron Vachris, said during their quarterly earnings call earlier this month that the company would consider modifying its international supply chain if tariffs result in significant price increases.

    According to Vachris, about one-third of Costco’s US sales come from products imported from other countries, with less than half of that originating from China, Mexico, and Canada.

    Costco did not immediately respond to a Reuters request for comment.

  • Underwear icon Hanes expands into the athleisure category

    Underwear icon Hanes expands into the athleisure category

    Hanes is expanding into athleisure with Hanes Moves, a new collection designed to bring the brand’s “signature comfort” into activewear.

    The range includes athletic-inspired innerwear and apparel for men, women and children.

    The collection features moisture-wicking fabrics, odour control, anti-chafing solutions and breathable stretch technology. Some styles also incorporate functional storage in leggings and shorts, while select women’s pieces include integrated leak protection.

    Jane Newman, chief design officer, global innerwear at HanesBrand, said launching the new collection was a “natural evolution” from the brand’s core basics.

    “We’ve progressed from classic essentials to fashion basics, then to loungewear,” she added. “Now, we’re entering athleisure with stylish, functional pieces designed to keep our customers comfortable throughout their day – no matter what they’re doing.”

    In June, HanesBrands sold the Champion business to Authentic Brands Group.

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  • Zara to open first cafe in South Korea

    Zara to open first cafe in South Korea

    Zara, the Spanish fashion giant, is set to open its first Zacaffe location in South Korea this May, launching inside the brand’s newly renovated flagship store in Myeong-dong, Seoul.

    The move reflects a growing trend among global fashion brands incorporating cafes into their retail spaces, offering customers a more immersive brand experience.Zara introduced Zacaffe in Madrid in November 2024, integrating a cafe space within select stores to serve coffee, desserts, and branded merchandise, including tumblers, hats, eco-bags, and t-shirts. Following its China debut in Nanjing this month, the Seoul location will be its third global outpost, with an Osaka store also in the pipeline.

    “Myeong-dong is a prime shopping and fashion district, attracting both locals and tourists, making it the perfect location for a flagship Zara store and our cafe experience,” a Zara representative said.

    Zara also plans to introduce Korean-inspired desserts and a cafe design that reflects local aesthetics, aiming to attract both domestic customers and international visitors. The company is considering further expansion within South Korea.Zara is not alone in blending retail and café culture. Luxury fashion brands have increasingly adopted coffeehouse ventures to strengthen their brand presence and enhance customer engagement.

    Ralph Lauren introduced Ralph’s Coffee to South Korea in September 2024, opening a cafe in Seoul’s Garosu-gil district, a decade after launching the brand in New York in 2014. The cafe, featuring classic green-and-white interiors and American-style menu offerings, has drawn long queues, even on weekdays. Ralph’s Coffee also opened a popular pop-up store at The Hyundai Seoul last month.
    Maison Kitsune, the Parisian-Japanese brand under Samsung C&T fashion division, launched cafe Kitsune in Seoul’s Garosu-gil in 2018. The brand has since expanded to Hyundai Department Store’s Mokdong and Pangyo locations, as well as Shinsegae’s Centum City branch, where the cafe welcomes over 400 customer groups daily on weekends.

    Gelato Pique, a Japanese homewear brand, entered the cafe scene in September 2024 by opening Pique cafe in Hannam-dong, Seoul. The cafe offers specialty crepes and gelato, aligning with the brand’s “comfortable luxury” ethos and attracting foot traffic to the store.The trend underscores a strategic shift in the fashion industry. With the rise of e-commerce reducing in-store foot traffic, brands are reinventing retail spaces as lifestyle destinations.

    “Online shopping has made it harder for brands to showcase their identity in physical stores,” a fashion industry insider noted. “By launching cafés and selling branded merchandise, fashion labels create a more tangible, memorable experience for customers.”

    As more brands adopt cafe-driven retail strategies, the industry’s shift toward experiential shopping is expected to accelerate, blurring the lines between fashion, lifestyle, and hospitality.

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  • Asia’s most prestigious university launches exchange program for Vietnamese students

    Asia’s most prestigious university launches exchange program for Vietnamese students

    For the first time ever, students at the Vietnam National University in Hanoi can apply for an exchange semester at China’s Tsinghua University, the nation’s top university and the most prestigious in Asia, for free.

    According to an announcement by Vietnam National University in Hanoi, starting this year, students from their second year onward at Vietnam National University-Hanoi with strong academic achievements and proficient foreign language skills, either an IELTS score of 7.0 for English or at least an HSK 5 level for Chinese, can apply for a tuition-free semester at Tsinghua.

    Applications for the fall semester (September 2025–January 2026) must be submitted by April 30, while applications for the spring semester (February–June 2026) are due by Nov. 30.

    Selected students will receive free tuition for the duration of their exchange at Tsinghua, but will be responsible for their own living expenses, insurance and visa fees.

    This program is part of a broader cooperation agreement signed between VNU and Tsinghua University on March 2. Similar agreements were also made with Vietnam National University in Ho Chi Minh City and Vietnam’s National Economics University.

    Tsinghua University has been recognized as the most prestigious institution in Asia by Times Higher Education. In the THE World Reputation Rankings 2025, it ranks eighth globally, surpassing both Yale University and the University of Tokyo.

    In THE World University Rankings 2025, it stands at number 12, the highest position of Chinese universities, followed by Peking University, another top-tier institution in the country.

    Tsinghua currently maintains exchange agreements with about 200 universities worldwide.

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  • PepsiCo to acquire Poppi for US$1.95 billion

    PepsiCo to acquire Poppi for US$1.95 billion

    PepsiCo has signed a definitive agreement to acquire probiotic soda brand Poppi for US$1.95 billion.

    The transaction amount includes $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion.

    “We’ve been evolving our food and beverage portfolio over many years, including by innovating with our brands in new spaces and through disciplined, strategic acquisitions that enable us to offer more positive choices to our consumers,” said Ramon Laguarta, PepsiCo chairman and CEO.

    “More than ever, consumers are looking for convenient and great-tasting options that fit their lifestyles and respond to their growing interest in health and wellness. Poppi is a great complement to our portfolio transformation efforts to meet these needs.”

    The agreement also includes a further potential earnout consideration subject to reaching certain performance milestones within a specified period after the transaction’s closing.

    Poppi, which combines apple cider vinegar with natural fruit flavours and probiotics, gained attention after appearing on the reality TV show Shark Tank in 2018.

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