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Tag: asia

  • Bamboo Airways launches ‘historic’ direct Vietnam-US flight

    Bamboo Airways launches ‘historic’ direct Vietnam-US flight

    Bamboo Airways conducted its first direct flight from Vietnam to the U.S. Thursday night. The QH9149 flight, using the Boeing 787-9 Dreamliner aircraft, took off at 7:55 p.m. from Hanoi’s Noi Bai Airport for San Francisco.

    The flight, the first of 12 direct flights between Vietnam and the U.S. that Bamboo Airways has won approval from the Transportation Security Administration (TSA), is expected to take over 14 hours.

    The flight crew included four pilots, 14 flight attendants, and several technicians and ground controllers to perform necessary functions at the San Francisco Airport.

    Before the flight took off, a commemoration ceremony was held at the airline’s headquarters on Cau Giay Street the same day.

    Nguyen Manh Quan, deputy general director of Bamboo Airways, said the flight was a historic one, not just for Bamboo Airways also for Vietnam’s aviation industry itself.

    “We will once again affirm the capability for operation, safety, security and infrastructure for Vietnamese airlines and the entire Vietnamese aviation industry in general,” he said at the meeting.

    Nguyen Ngoc Trong, another deputy general director of Bamboo Airways, said the flight’s goals were to serve tourists in both Vietnam and the U.S., foster commercial, diplomatic and cultural exchanges, and to affirm the status of Bamboo Airways, considering that direct flight to the U.S. is among the hardest flight paths to achieve.

    “In the last two years, we’ve managed to see opportunities in developing flights not just within Vietnam, but also in Southeast Asia and Northeast Asia like Japan, Taiwan, and even reaching towards Europe and Australia. And now, to the U.S.,” he said.

    “By introducing direct flights to the U.S. at this moment in time, we’re showing that we are ready to operate commercial flights once the pandemic dies down to meet customers’ demands in both countries,” he added.

    Bamboo Airways had earlier announced plans to organize three direct flights to the U.S. each week, gradually increasing the frequency to 5-7 flights, and then to daily flights.

    Vietnam Airlines has conducted several direct U.S. flights for Covid-19 repatriation purposes. The national carrier said this week it is set to receive its final permit from U.S. authorities.

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  • Nike’s Vietnam supply hurdles in focus ahead of quarterly results

    Nike’s Vietnam supply hurdles in focus ahead of quarterly results

    Nike’s updates to its full-year sales outlook on Thursday will likely answer that pressing question for Wall Street as the world’s largest sportswear maker deals with unprecedented supply challenges ahead of the holiday season.

    Three months ago, Nike gave a rosy outlook for the rest of the year as it benefited from consumers splurging on sneakers for running and hiking as they returned to their routines after over a year of staying at home.

    Still, some analysts have cut their outlook for Nike’s sales, predicting that lockdowns and factory closures in Vietnam, where about half of all Nike footwear is manufactured, will cause shortages during the crucial shopping season.

    “We believe the risk of significant cancellations beginning this holiday and running through at least next spring has risen materially for Nike as it is now facing at least two months of virtually no unit production at its Vietnamese factories,” BTIG analysts wrote in a note.

    Many factories in Vietnam’s manufacturing hubs have been shut or are operating with drastically fewer on-floor workers since mid-July as a surge in Delta variant cases forced the government to implement tight containment policies.

    Other apparel companies including Abercrombie & Fitch and Adidas AG have taken a hit to their businesses due to production issues in Vietnam. read more

    Some analysts, however, see Nike using its scale to offset the sales impact from Vietnam shutdowns.

    “The company should be able to mitigate some headwind by shifting production to other countries, like China, and prioritizing top sellers, key products, and its DTC (direct-to-consumer) channel,” Telsey Advisory Group analysts said.

    Since the start of September, analysts have cut their full-year sales expectations for Nike to $49.81 billion from $50.34 billion due to worries about supply shortages

    Full-year earnings per share estimates have also fallen to $4.24 from $4.33, according to IBES data from Refinitiv.

    Nike’s revenue for the reporting quarter is expected to have risen 17.7 percent to $12.46 billion from a year earlier.

    The blue-chip stock has gained 11 percent this year, but is down about 10 percent from its record high hit in August.

  • Crypto Exchange FTX Quits Hong Kong

    Crypto Exchange FTX Quits Hong Kong

    The digital assets derivatives exchange has moved its headquarters to Nassau, the Bahamas, citing friendlier regulation and no mandatory quarantine upon arrival in-country.

    The company’s chief executive officer, 29-year-old billionaire Sam Bankman-Fried told industry publication Blockworks that the proactive stance taken by The Bahamas and its regulatory bodies on cryptocurrencies» is one of the primary reasons FTX is moving to the Caribbean island.

    Ryan Salame, recently appointed CEO of FTX Digital Markets, will be responsible for leading its local initiatives in the Bahamas. In addition, FTX Digital Markets will be expanding its presence in the country to support transferred and local employees.

    Hong Kong authorities have been taking an increasingly hard stance towards cryptocurrencies, barring non-accredited investors from accessing the local crypto market.

    Blockworks experts also cited unclear regulations around custody and inconsistencies with how the city’s different regulatory bodies treat crypto as reasons why firms in this sector are finding it increasingly hard to operate in Hong Kong.

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  • Apple gives a $1000 bonus to its employees ahead of the shopping season

    Apple gives a $1000 bonus to its employees ahead of the shopping season

    Surprise surprise, Apple Store employees will receive a hefty $1000 bonus this year. The good news for Apple employees was first reported by Bloomberg. Those who joined the company before March of this year will receive a $1000 bonus. Newer employees will receive $500, which is still a pretty good sum. This information comes from reliable sources of both Bloomberg and 9to5Mac.

    “The bonuses will be an unusual perk since Apple rarely gives companywide payouts. The last major one was $2,500 worth of restricted stock units in 2018. That bonus followed tax changes allowing Apple to bring back cash from offshore accounts at a lower cost. The new bonuses will be issued via cash in paychecks, rather than as stock units, the people said.”

    Apple Store staff won’t be the only one to get a nice bonus this year. AppleCare and online sales employees are getting one grand as well, which means the company is serious about keeping its customer service happy.

    9to5Mac states that the reason the Cupertino company gives such bonuses is that it wants to retain its existing employees before and during the holiday season. As most of you know, the iPhone 13 series is the company’s biggest upcoming release, and it is set to be a big one. This means that Apple will need all the labor force it has to keep its customers happy.

    Plenty of stuff if you ask us. The first thing that comes to mind is buying a new iPhone 13 device. Yes, the iPhone 13 Pro Max costs more, but Apple staff can always go for the $999 iPhone 13 Pro or the even less expensive iPhone 13 and iPhone 13 mini.

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  • Airasia’s digitalisation to provide a solid foundation for future growth

    Airasia’s digitalisation to provide a solid foundation for future growth

    AirAsia Group Bhd is accelerating its digitalization by emphasizing new technologies and focusing on driving innovation across its entire portfolio of companies.

    The carrier’s engineering arm Asia Digital Engineering (ADE), ground handling division Ground Team Red (GTR) and logistics venture Teleport, are set to soar to new heights through digitization and data.

    “A silver lining of Covid-19 has caused a huge surge in demand for cargo and online shopping deliveries and this is driving many new business opportunities and revenue streams.

    “We see huge potential, not only in our super app and fintech solutions but also in our logistics, aircraft maintenance and ground services divisions,” AirAsia Group president Aireen Omar, who oversees digital operations, said in a statement today.

    Aireen said ADE is set to revolutionise the airline maintenance, repair and overhaul (MRO) industry in Asia.

    ADE performed and completed Teleport’s first A320 cargo plane conversion earlier this year and expects more aircraft modifications of the passenger to cargo aircraft in the future.

    “With an experienced workforce of more than 15 years managing AirAsia’s fleet, strong supplier, lessor and regulatory relationships and through automation and streamlined operations, we foresee that ADE will soon become the next major MRO player in Asean, delivering a significant new revenue stream for AirAsia Group.”

    Meanwhile, she said the company’s logistics venture Teleport is experiencing significant growth in line with the overwhelming demand for cargo and online deliveries.

    “With direct access to the unrivalled Airasia Group network in Southeast Asia, Teleport has put in place the right foundations to truly disrupt the cargo industry in ASEAN.

    “Furthermore, Teleport’s partnership with Freightchain, the world’s first digital air cargo network running on blockchain, is a game-changer for Teleport and the industry, making the online booking process as easy as buying a flight ticket on AirAsia.

    “Importantly it also links AirAsia airlines with other innovative interline partners to ensure maximum efficiency and lowest cost for clients,” she said.

    Similar to its super app ambitions, alongside ADE and Teleport, Aireen said GTR aims to be the ground handling services provider of choice in ASEAN.

    She said with the easing of movement restrictions and return of air travel globally, GTR is anticipating more business collaborations with foreign airlines in major airports across Malaysia.

    “GTR is preparing for strong regional expansion including with third party airlines as soon as travel restrictions ease and international borders reopen,” she said.

    According to Aireen, AirAsia Group has built a complete digital marketplace for travel and everyday lifestyle services on airasia Super App.

    “Logistics, aircraft maintenance, ground handling services and fintech are equally important to complete our ecosystem.

    “They all work in tandem symbiotically, to meet increasing demand in the e-commerce and distribution space,” she added.

  • Globe Telecom deploys Infinera’s Auto-Lamda for 5G network upgrades

    Globe Telecom deploys Infinera’s Auto-Lamda for 5G network upgrades

    Infinera announced that Globe Telecom, Inc. (Globe), a major provider of telecom services in the Philippines, deployed Infinera’s Auto-Lambda solution, featuring autotuneable optics, to upgrade its existing 4G access and aggregation networks and in anticipation of providing future 5G services. By upgrading its access network with Infinera’s autotuneable optics technology, Globe can deliver more capacity on its existing network and scale to address bandwidth growth within its current network architecture while reducing both capital and ongoing operational expenses.

    Globe is the leading mobile network operator in the Philippines and offers one of the largest fixed line and broadband networks in the country. With what is believed to be the industry’s first widescale deployment of autotuneable optics over sophisticated amplified ring architectures, Globe is advancing innovation in its access network to address growing capacity demands while evolving its previously deployed IP network to support the increasing demands in mobile backhaul capacity for 5G. Utilizing Infinera’s Auto-Lambda solution, Globe can easily plug autotuneable dense wavelength-division multiplexing (DWDM) optics directly into its existing aggregation and access nodes, allowing its network to automatically tune each of the optical signals to the appropriate wavelength, which significantly simplifies deployment while increasing capacity.

    “In today’s environment, our customers are always online and want unhindered access and capacity. As one of the leading telecom services in the Philippines, we seek the best technology to support our nation’s connectivity needs,” said Jaeson Evangelista, Head Transport Planning at Globe Telecom.

    “Our network requires a solution that is easy to deploy and scalable to meet the increasing capacity needs of our customers. We chose Infinera’s Auto-Lambda solution because it provides the innovation and benefits our network needs, from operational simplicity and ease of deployment to cost savings and eliminating the need for new networking hardware. Additionally, Infinera’s autotuneable optics provide a unique solution that enables DWDM upgrades directly into third-party devices in our network, making installation and deployment easy for our engineers.”

    “Globe has a rich legacy in the Philippines for its telecommunication services and providing the country with unmatched connectivity,” said Nick Walden, Senior Vice President, Worldwide Sales at Infinera. “Globe’s deployment of Infinera’s Auto-Lambda solution highlights the benefits provided by Infinera’s innovation, including autotuneable optics that provide high-capacity access and aggregation DWDM networks without an extensive overhaul to an operator’s existing network infrastructure.”

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  • B2B Payments Firm Spenmo Receives Funding for Regional Build-Out

    B2B Payments Firm Spenmo Receives Funding for Regional Build-Out

    The Singapore-based startup has secured one of the largest Series A funding rounds to date in the country, which will allow it to expand in Southeast Asia.

    Spenmo has announced a $34 million raise in a Series A investment round led by New York-based private equity and venture capital firm Insight Partners, according to a statement on Wednesday.

    The fundraising round, which was oversubscribed by a multiple of five, saw the participation of Lee Fixel’s Addition, Salesforce Ventures, Alpha JWC, Global Founders’ Capital, Broadhaven, Operator Partners and Commerce Ventures, alongside several high-profile angel investors.

    Spenmo helps businesses manage payments, and its products include smart corporate cards and automated bill payments. It graduated from the Y-combinator startup accelerator in 2020. Since its launch in Singapore last year, it has expanded across Southeast Asia, bringing on several thousand customers, Spenmo said.

    The company said it sees growth opportunities in the region, which has over 20 million small and medium sized businesses that  largely do not use any software to manage their payables other than piecemeal solutions such as spreadsheets or manpower.

    Our space has typically been thought of as a back-office function, but finance and accounts payables is a critical part of running a business, Mohandass Kalaichelvan, CEO and Founder of Spenmo, said.

  • Inmarsat launches new customer experience platform for airlines to monetise inflight connectivity

    Inmarsat launches new customer experience platform for airlines to monetise inflight connectivity

    Inmarsat announced the launch of its innovative new OneFi customer experience platform (CXP) for airlines. The first-of-its-kind solution will serve as a catalyst to monetise inflight connectivity by bringing a host of onboard services together within a single portal interface, which passengers can easily access using their own personal devices.

    OneFi delivers a rich airline-branded digital platform to enhance the passenger experience onboard flights. It allows passengers to order food and beverages, purchase seat upgrades, receive the latest flight and destination information, and sign-up to the airline’s frequent flyer programmes, all in real-time from the comfort of their seat. In addition, passengers can browse the internet, stream videos and audio, shop online and enjoy other ecommerce offerings, using high-speed inflight broadband that airlines could choose to offer free-of-charge, funded through OneFi’s sponsorship and advertising features.

    The launch of OneFi comes at a critical time for airlines, with the global pandemic having accelerated passenger demand for digital inflight experiences. Inmarsat’s recent 2021 Passenger Confidence Tracker, the largest and most comprehensive global survey of its kind since the pandemic began, found that digital solutions that keep passengers connected and minimise their contact with cabin crew and fellow passengers can go a long way in boosting confidence. In addition, out of the 10,000 respondents worldwide, 41% believed inflight Wi-Fi had increased in importance after the pandemic.

    Philip Balaam, President of Inmarsat Aviation, said: “For many years, Inmarsat has advocated the vast commercial opportunities of inflight connectivity. However, until now, airlines have struggled to realise the full potential of the business model. OneFi is a step change for those looking to monetise their Wi-Fi services and ensure they keep pace with evolving passenger needs. It will empower a digital transformation in the cabin, which is especially important at this critical time for the aviation industry.

    “OneFi allows airlines to improve their brand experience and secure passenger loyalty, with the flexibility to incorporate their own services and use existing and new partners, such as content providers, advertisers and retailers. We are in advanced discussions with leading airlines about adopting this innovative new platform and expect to see a rollout with our first OneFi customer by the end of this year.”

    In recent years, airlines have continued to increase their focus on unlocking new revenue streams through broadband-enabled ancillary services. The market for digital inflight advertising alone is forecast to grow from $266 million today to $3.3 billion by 2030, representing a 10-year compound annual growth rate (CAGR) of 42.9% between 2020 and 2030, according to Valour Consulting.

    The launch of OneFi is a significant step in turning that untapped commercial opportunity into a reality. OneFi promises industry grade targeting features, media inventory and calls-to-action that are made available to the airline and its partners. These ensure that content is contextual and relevant to the individual passenger. It also enables partners to engage in more meaningful ways with passengers and boost sales lead generation rates. The platform’s intuitive, user-friendly interface will enable airlines to boost passenger take-up rates and create a frictionless funnel to purchase.

    In addition, OneFi is network agnostic and uses open architecture, meaning it can integrate with any technology infrastructure and Internet Service Providers (ISPs) used by airlines, ensuring a uniform experience across mixed aircraft fleets. The platform is also scalable, giving airline customers the flexibility to add new third-party services over time and helping to future proof their onboard offering.

    Inmarsat is transforming global aviation by bringing complete connectivity to aircraft and flight paths across the world. It recently unveiled plans for ORCHESTRA to bring existing geosynchronous (GEO) satellites together with low earth orbit satellites (LEO) and terrestrial 5G to form an integrated, high-performance solution, unmatched by any existing or planned competitor offering. ORCHESTRA allows capacity to be boosted in high-density areas such as at airports, eliminating congested network ‘hot spots’ and ensuring the connectivity needs of aviation customers are met well into the future, with capacity scaled directly to match their requirements.

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  • Upset Tim Cook sends email to Apple employees about product leaks.

    Upset Tim Cook sends email to Apple employees about product leaks.

    Apple CEO Tim Cook once again made it clear that he is not happy with those who work at Apple and have a side hustle selling leaked information to those who pass these secrets on to Twitter tipsters and others. Cook wrote an email to employees last week and naturally, that missive leaked. Cook said in the email that Apple is doing “everything in our power to identify those who leaked” and he also stated that “people who leak confidential information do not belong” at Apple.

    Cook was upset to see details of a global employee meeting, held last Friday, September 17th, leak. During the internal meeting, the executive announced that Apple would demand frequent COVID testing for Apple employees who have yet to receive a vaccination, but that the company would not force workers to get the jab. He also was not happy that details of his response to the judge’s ruling in the Epic v. Apple bench trial were leaked.

    Cook wrote in his letter, “I want you to know that I share your frustration. These opportunities to connect as a team are really important. But they only work if we can trust that the content will stay within Apple. I want to reassure you that we are doing everything in our power to identify those who leaked. As you know, we do not tolerate disclosures of confidential information, whether it’s product IP or the details of a confidential meeting. We know that the leakers constitute a small number of people. We also know that people who leak confidential information do not belong here.”

    The executive added, “As we look forward, I want to thank you for all you’ve done to make our products a reality and all you will do to get them into customers’ hands. Yesterday we released iOS 15, iPadOS 15, and watchOS 8, and Friday marks the moment when we share some of our incredible new products with the world. There’s nothing better than that. We’ll continue to measure our contributions in the lives we change, the connections we foster, and the work we do to leave the world a better place.”

    Earlier this year, in an effort to stop leaks, Apple instructed its manufacturing partners Foxconn and Wistron, to conduct criminal background tests on all assembly line workers. Those found to have a criminal background would be banned from entering areas where unreleased Apple products are being developed and assembled. Additionally, all visitors to these factories must flash a government-issued ID, and guards must keep tabs on the movement of factory workers with possession of important components and products.

    There is a bit of inconsistency involved here. While Apple is promoting the privacy of its own employees by restricting the biometric information (like fingerprints) that Foxconn and Wistron can collect from Apple employees visiting these facilities, it still wants its manufacturing partners to collect this data from its own employees.

    The report that Apple held an internal meeting about leaks which itself leaked might have led you to experience deja vu. That’s because back in 2017 the company held an internal seminar called “Stopping Leakers – Keeping Confidential at Apple.” It was hosted by employees from Apple’s Global Security division. As you might have guessed, the seminar leaked.

    Arguably, the worse year for Apple iPhone leaks came in 2013 when images of the different colored rear shells for the more affordable iPhone 5c leaked. Many of these iPhone 5c leaks were traced to Australia’s Sonny Dickson, who at the time was a teenager.

    In 2017, Dickson told Reuters that he had 5 to 10 sources inside China who purchased prototype parts from assembly line workers paying $250-$500 a pop. The sources sent him videos of the parts and sometimes they sent him the parts themselves.

  • Ooredoo Group and CK Hutchison poised for US$6 billion telecom merger

    Ooredoo Group and CK Hutchison poised for US$6 billion telecom merger

    Ooredoo and CK Hutchison announced the signing of definitive transaction agreements for the proposed merger of their respective telecommunications businesses in Indonesia, PT Indosat Tbk (Indosat Ooredoo) and PT Hutchison 3 Indonesia (H3I). The merged company will be named PT Indosat Ooredoo Hutchison Tbk (Indosat Ooredoo Hutchison).

    The merger of Indosat Ooredoo and H3I will bring together two highly complementary businesses to create a larger, commercially stronger and more competitive world-class digital telecoms and internet company, well placed to deliver more value for all shareholders, customers and for Indonesia.

    Indosat Ooredoo Hutchison will be well-positioned to accelerate Indonesia’s economic growth and transformation into a digital society. It will be the second-largest mobile telecoms company in the country, with an estimated annual revenue of approximately US$3 billion.

    The combined company will have the scale, financial strength, and expertise to compete more effectively. Combining the highly complementary assets and products of Indosat Ooredoo and H3I will drive innovation and network improvements that will enable the delivery of outstanding digital services, as well as a broader product offering, to customers across Indonesia.

    Indosat Ooredoo and H3I own highly complementary infrastructure and the combination of these assets will also enable the merged company to benefit from cost and CAPEX synergies and provide accretive returns to all stakeholders. Annual run-rate pre-tax synergies of approximately US$300-400mm are expected to be realized over 3-5 years.

    In addition, Indosat Ooredoo Hutchison will be able to leverage the experience and expertise of Ooredoo Group and CK Hutchison in networks, technologies, products and services, and benefit from their multinational operations spanning major markets in Europe, the Middle East, North Africa, and Asia Pacific. The merged company will also benefit from their combined strength and economies of scale in functions such as procurement.

    Following the merger, the Indonesian mobile market is expected to retain a healthy level of competition, attractive to long-term investment across the industry.

    Ooredoo Group currently has a controlling 65.0% shareholding in Indosat Ooredoo through Ooredoo Asia, a wholly-owned holding company. The merger of Indosat and H3I will result in CK Hutchison receiving newly issued shares in Indosat Ooredoo amounting to 21.8% and PT Tiga Telekomunikasi Indonesia amounting to 10.8% of the merged Indosat Ooredoo Hutchison business.

    Concurrent with the merger, CK Hutchison will acquire a 50% shareholding in Ooredoo Asia by exchanging its 21.8% shareholdings in Indosat Ooredoo Hutchison for a 33.3% stake in Ooredoo Asia, and will acquire an additional 16.7% stake from Ooredoo Group for a cash consideration of US$387 million. Following the above transactions, the parties will each own 50.0% of Ooredoo Asia, to be renamed Ooredoo Hutchison Asia, which will retain a controlling 65.6% ownership stake in the merged company.

    Upon closing of the transactions, Indosat Ooredoo Hutchison will be jointly controlled by Ooredoo Group and CK Hutchison. It will remain listed on the Indonesian Stock Exchange, with the Government of Indonesia retaining a 9.6% shareholding, PT Tiga Telekomunikasi Indonesia holding a 10.8% shareholding, and other public shareholders holding approximately 14.0%.

    Subject to necessary Indosat Ooredoo shareholder approvals, the parties have agreed to nominate Vikram Sinha as CEO and Nicky Lee as CFO of Indosat Ooredoo Hutchison. Ahmad Al-Neama will remain President Director and CEO of Indosat Ooredoo and Cliff Woo will remain as CEO of H3I until completion of the merger. Upon completion, Ahmad Al-Neama and Cliff Woo will join the Board of Commissioners of the merged company, subject to the necessary Indosat Ooredoo approvals.

    The parties are committed to prioritizing employee welfare during the integration process in adherence with applicable laws and aligned with future business growth opportunities. The combined company is expected to create exciting growth opportunities for employees, as part of a larger, financially stronger, more competitive and innovative technology company.

    Aziz Aluthman Fakhroo, Managing Director of Ooredoo Group, said: “This agreement is a significant step towards our shared vision of creating outstanding value for our customers and shareholders by bringing together two of Indonesia’s leading telecoms brands to create a stronger number two player in Indonesia, backed by two highly committed partners in Ooredoo Group and CK Hutchison. With this agreement in place, we can now turn our attention to closing the transaction and then working closely with CK Hutchison to leverage the combined expertise of our respective global telecoms groups to build a world-class digital telco for Indonesia.

    This merged company will deliver significant value and benefits for all stakeholders including Indosat Ooredoo and Ooredoo Group shareholders, for customers, employees and Indonesia. Through economies of scale and the realization of synergies between these highly complementary businesses, the merged company will be well placed to deliver a higher return on investment for all shareholders and build on the outstanding growth momentum already achieved by Indosat Ooredoo. Importantly, the merger will create a company with the strength and scale to accelerate Indonesia’s digital transformation and improve network performance and customer experience across the country.

    Canning Fok, Group Co-Managing Director of CK Hutchison Holdings Limited, said: “This is a great opportunity to create a stronger and more innovative telco player in Indonesia and will be an accretive transaction for shareholders and other stakeholders alike. Indosat Ooredoo Hutchison will have a critical mass that will enable it to drive network expansion and improvements that will support the Government’s digital agenda and benefit customers and Indonesia as a whole.”

    “With greater scale, expanded spectrum, and a more efficient cost structure, Indosat Ooredoo Hutchison will also be better positioned to extend the rollout of its network and enhance service quality and speed. CK Hutchison invests in and operates telecom businesses in 12 markets around the world, many of which have successfully rolled out 5G networks, and we look forward to expanding innovative 5G services in Indonesia when the time is right.”

    H.E. Sheikh Faisal Bin Thani Al Thani, Chairman of the Board of Directors at Ooredoo Group, concluded: “This merger is a landmark deal for Asia and for Ooredoo Group. It furthers our strategy to drive more value from our portfolio and accelerate digitalization across our global footprint. I look forward to a long and successful partnership with CK Hutchison and to working together to build Indosat Ooredoo Hutchison into a digital champion for Indonesia.”

    Completion of the transaction will be subject to the approval of Ooredoo Group, CK Hutchison, Indosat Ooredoo shareholders, regulatory approvals and other customary terms and conditions. Assuming all approvals are received, the proposed combination is expected to be completed by the end of 2021.

    JP Morgan is acting as exclusive financial advisor to Ooredoo Group. Goldman Sachs & Co. and HSBC are acting as joint financial advisors to CK Hutchison. Barclays is acting as financial advisor to Indosat Ooredoo.

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  • ExxonMobil Launches Mobil Super TM SUV Pro Synthetic Engine Oil

    ExxonMobil Launches Mobil Super TM SUV Pro Synthetic Engine Oil

    ExxonMobil Lubricant has launched Mobil SuperTM SUV Pro synthetic engine oil for SUVs in India. Basically, the company is trying to tap into the growing demand for SUVs with the branding. The engine oil is based on ASTM D6891 (Seq. IVA) test results versus API SN engine test requirements. The company claims that it offers 79 percent better engine wear protection as well, especially in stop-and-go traffic conditions, and helps to improve fuel-economy.

    Deepankar Banerjee, Chief Executive Officer (CEO), ExxonMobil Lubricants Pvt Ltd. Said, “People are turning to SUVs to more easily maneuver through dense traffic, handle bad weather conditions, and drive over rugged terrain. To meet the needs of SUV owners, we are introducing Mobil Super SUV Pro which is specially formulated with active ingredients for SUV engines. Whether you use your SUV for daily commute or weekend drives, our new Mobil Super SUV Pro is packed with features to deliver All-in-One Protection for every terrain, making it easier for all SUV owners to care for their cars.”

    The engine oil has been developed to provide superior low-speed pre-ignition protection to prevent internal engine damage along with all-weather protection for longer engine life. It also provides heat-activated anti-wear protection. The Mobil Super SUV Pro is suitable for both diesel and petrol engines and meets American Petroleum Institute (API) SN Plus and European Automobile Manufacturers’ Association (ACEA) A3/B4 Standards. Mobil Super SUV Pro is available in 1, 3.5, and 5-litre pack sizes at Mobil Authorized Retail stores, Mobil Car Care stores and Amazon.

  • Singapore-Based Fintech Thunes Makes Strategic Appointments

    Singapore-Based Fintech Thunes Makes Strategic Appointments

    The fintech startup has made a pair of executive hires to support its global growth strategy. Thunes has appointed Irina Chuchkina as chief marketing officer and Babul Balakrishnan as head of customer care, who will both be based in Singapore, the global cross-border payments firm said on Tuesday.

    Fintech marketing leader Chuchkina, who is also an Executive Committee Member in the Singapore Fintech Association, brings over 15 years of experience in the payments and technology space in Europe and Asia, including at Rapyd, Grab and Visa. She will lead Thunes’ global marketing strategy.

    Balakrishnan has over two decades of experience across various industries with a focus on customer service and customer experience. He joins from telco StarHub, where he was AVP of customer experience operations. He will work with the various business units to elevate customer care into customer experience across Thunes’ partner network.

    The appointments follow the announcement of Thunes’ acquisition of Europe payments platform Limonetik, to complement its cross-border payments solutions. The company has also made several other strategic hires the last 12 months to support its expansion plans.

    Launched in 2016, Thunes is headquartered in Singapore and operates regional offices in London, Shanghai, New York, Dubai, and Nairobi. In September 2020, it raised $60 million in a Series B funding round led by Africa-focused Helios Investment Partners.

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  • Edtech startup CoderSchool bags $2.6M pre-seed fund

    Edtech startup CoderSchool bags $2.6M pre-seed fund

    CoderSchool, a Vietnam-based edtech startup offering online coding courses, has raised $2.6 million in a pre-seed funding round led by Monk’s Hill Ventures.

    Startup accelerator Iterative, investment network XA Network, and venture fund iSeed Ventures also took part in the funding round. CoderSchool plans to use the new capital to develop fresh educational content and build its technology infrastructure for technical training programs.

    Founded in 2015, the edtech startup offers courses in the fields of machine learning, data science, and web development to equip students with skills that can help them land jobs. The company automates much of the day-to-day teaching operations such as tracking student progress, grading, attendance, and personalization of courses.

    Simply put, CoderSchool provides programming courses for future engineers.

    “The need for good engineers and programmers in Southeast Asia has soared in a evolving technology and digital landscape,” said Michele Daoud, Monk’s Hill Ventures’ partner.

    According to CoderSchool, the number of students enrolling in the company’s online courses has surged every quarter since the beginning of 2020. CoderSchool has about 2,000 students and more than 80 percent of its full-time users have found jobs at big digital companies like MoMo, Tiki, Shopee, Microsoft, and FPT Software within six months after graduation.

    Alumni earn 30-40 percent higher than the average wage of inexperienced software engineers, according to the startup’s representatives.

    Currently, CoderSchool employs 15 instructional staff and plans to hire 35 employees more by Q4, 2022.

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  • India announces major telecoms reforms to boost industry

    India announces major telecoms reforms to boost industry

    The Union Cabinet approved on Wednesday several structural and process reforms in a relief package targeting the telecom sector to ensure its healthy growth in a digital era.

    In a move lauded by industry players as a positive step towards promoting the industry and addressing long-standing concerns, the reforms are expected to foster healthy competition, protect the interests of consumers, infuse liquidity, encourage foreign investment and reduce regulatory burden on telecom service providers (TSPs).

    These reformatory measures will fuel the proliferation and penetration of broadband and telecom connectivity, which has witnessed heightened demand against a pandemic backdrop, where activities such as work from home and remote learning have driven an unprecedented surge in data consumption.

    The measures comprise nine structural reforms and five procedural reforms plus relief measures for TSPs. Bringing respite to the industry, all TSPs have a four-year moratorium for payment of adjusted gross revenue (AGR) due. According to minister Ashwini Vaishaw, the moratorium will ensure significant cash flow for telecoms without affecting the government’s revenue. This will help India’s telecom giants address prevailing cash flow issues, enabling them to conserve capital to fund capital expenditure and invest in 5G. Vodafone Idea, for instance, will be able to defer payments of about Rs 96,000 crore.

    To encourage foreign investment, another structural reform includes 100% foreign direct investment (FDI) under automatic route permitted in the telecom sector, though neighbouring countries including Pakistan and China will not be allowed to invest under the automatic route. Previously, only 49% was under the automatic route.

    In addition, spectrum sharing will also be made free, with an additional spectrum usage charge (SUC) of 0.5% for spectrum sharing being scrapped. There will also be no SUC for spectrum required in future spectrum auctions.

    The Cabinet also announced that there is no need for separate KYC to switch from postpaid to prepaid, or vice versa.

    Currently, India is the world’s second-largest telecommunications market with a subscriber base of 1.16 billion. These reforms demonstrate the government’s commitment towards building the nation’s digital future.

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  • MTN, Smart extend 5G roaming of Philippines to South Africa

    MTN, Smart extend 5G roaming of Philippines to South Africa

    MTN South Africa network will be the first mobile operator in Africa to provide 5G access to customers from the Philippines through its international roaming agreement with the Philippines’ leading mobile services provider, Smart Communications.

    The agreement delivers on MTN’s and Smart’s commitment to keeping its travelers connected and providing them with access to 5G; both at home and when traveling as capable devices become available.

    “We’re excited to launch 5G roaming in South Africa with Smart’s network because of what it means for customers,” said Arne Casteleyn, general manager – international roaming, MTN GlobalConnect. “With MTN Y’ello Connect Roaming Hub and our central roaming team, we never stop innovating, developing and deploying faster roaming services to provide our customers with access to a next-generation network.”

    Casteleyn further explained that providing 5G services for visitors coming to Africa is crucial to get the same data speeds as at home and to harness trends such as the Internet of Things (IoT). “We continue to ramp up the roll-out of 4G, VoLTE, and 5G roaming with the world’s top operators which proves MTN’s commitment to provide excellent roaming services to its travelers as travel restrictions ease with mass vaccinations.”

    “This is part of Smart’s commitment to bring our world-class services anywhere in the world by expanding our 5G roaming coverage in Africa, after our successful rollout with 46 partners in Europe, USA, Middle East, and Asia,” said Ray Arsenal, AVP and head of roaming partnerships.

    Established in 2018, MTN GlobalConnect is based in Dubai and its team is made up of more than 25 nationalities.