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Tag: asia

  • Qatar Airways Cargo and Unilode announce a major digitalisation partnership

    Qatar Airways Cargo and Unilode announce a major digitalisation partnership

    Qatar Airways Cargo, the leading air cargo carrier and Unilode Aviation Solutions, the market leader in outsourced Unit Load Device (ULD) management, repair and digital services, announce their partnership for the digitalisation of the airline’s fleet of over 42,000 ULDs.

    The partnership represents the largest ULD digitalisation programme undertaken by an airline. Qatar Airways Cargo will leverage Unilode’s advanced ULD digitalisation capabilities to gain data-driven insights and real-time visibility into ULD locations, sensory data, and asset utilisation rates. Through Unilode’s digital technologies Qatar Airways Cargo will continue to strengthen its position to be at the forefront when it comes to streamlining operations, optimising resources, increasing revenue opportunities, and boosting performance.

    The partnership with Qatar Airways Cargo will make sure Unilode’s tag and reader network is further extended to cover the carriage of ULDs on the airline’s global passenger and cargo network. The tag and reader network will be supported by E-ULD, Unilode’s in-house developed mobile app and web portal that enables real time visibility & tracking of ULDs, and Unilode’s Enterprise Data Warehouse and customer portal, which provide the airline with enhanced data analytics to improve ULD utilisation and further reduce costs.

    Qatar Airways Cargo’s Chief Officer Cargo, Mark Drusch said, “We are excited to join forces with Unilode to embark on this ground breaking transformative digital journey. Our shared vision for ULD digitalisation and innovation will undoubtedly set new benchmarks in the air cargo industry for operational excellence, enabling us to elevate our customer experience and further optimise our resources. By implementing Unilode’s innovative digital solutions, we are able to allocate ULDs more effectively across our vast network of destinations and this in turn will increase asset utilisation, reduce costs, and contribute to a more sustainable and environmentally-friendly operation.”

    Unilode, Chief Executive Officer, Ross Marino, said, “Our collaboration with Qatar Airways Cargo represents a major digital milestone in the industry. This reinforces our commitment to our digital journey and providing our customers with technology-based solutions for their own fleet, or as part of our full service ULD management solutions.

    With this partnership we are confident that it will reshape ULD digitalisation across the industry and contribute to a more connected, efficient, and sustainable aviation ecosystem. With Qatar Airways Cargo as our partner, we look forward to working together on developing and enhancing our digital solutions further.”

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  • Seafrigo opens in Vietnam and appoints Fabian Hautiere to head up the country

    Seafrigo opens in Vietnam and appoints Fabian Hautiere to head up the country

    Seafrigo, the cold chain logistics expert, specialising in food logistics has opened its first office in Vietnam. At the same time, it has appointed Fabian Hautiere to head up operations in the country as Managing Director.

    A new office in Vietnam aligns with the Seafrigo Group’s long-term growth strategy to develop its own operations in key locations around the globe.  The new office is located in Ho Chi Minh City, the economic capital of the country with easy access to the main ports and airports and also home to the leading exporters of seafood and fruit.

    Vietnam will be both an air and ocean operation and will cater to exports and imports. It is one of the most dynamic and fastest growing economies in South East Asia with an average GDP growth rate of +6% for the last 15 years (excluding the 2 years of COVID where the growth rate was +2.7%). The country also has Free Trade Agreements in place with trading partners including the EU and Asia-Pacific countries.

    Fabian Hautiere joins Seafrigo from Kuehne Nagel where he was National Key Account Manager specialising in consumer goods. He also has extensive experience on the operational side of the business where he worked as a Senior Supply Chain Manager for a leading fine food import company in Vietnam where he has lived for the last 12 years.

    Says Fabian Hautiere: “This is an exciting time to be setting up the Seafrigo business in Vietnam in its own right. There are many specialist products such as pangasius, shrimps, dragon fruit and mangoes etc, to name just a few, where we will be using our team’s cold chain logistics expertise to bring these goods to markets around the world both by air and ocean.  With my long-standing experience in Vietnam, I already knew Seafrigo well. I used and approved their services as an importer in the past, so I am well versed in the company’s passion for excellence and its commitment to the highly specialised chilled and fine foods business, joining them was a natural choice”.

  • Warning Signals from the Crypto Valley

    Warning Signals from the Crypto Valley

    As a Crypto-Nation, Switzerland has made headlines for many years. However, the tide may be turning now.

    On January 20, 2025, Donald Trump will move into the White House for the second term. By then, the Crypto Valley will be closely monitoring the US President’s policies. Trump’s plans could cause a major upheaval in Switzerland.

    In addition to introducing massive tariffs and tightening immigration policies, Trump has also announced his intention to overhaul the previously restrictive policy on Bitcoin and other cryptocurrencies, aiming to implement crypto-friendly regulations.

    Among other things, Trump wants to attract mining companies: Bitcoin made in the USA. This will involve massively expanding the energy-producing economy to ensure that enough cheap energy is available at all times.

    At the same time, Trump aims to promote stablecoins and bitcoins and establish a strategic national Bitcoin reserve.

    Trump’s promises have sparked a surge in cryptocurrency prices in recent months. In December, Bitcoin’s price briefly surpassed the magical threshold of $100,000.

    If the US President delivers on his promises, it would be a true game-changer. This would not go unnoticed in Crypto Valley», says a senior manager at a crypto company based in Zug. However, he does not want to be named publicly, as the matter is too sensitive.

    Cryptocurrencies and Switzerland have long been a success story. As early as 2013, Switzerland set up attractive conditions for the industry, ahead of many other nations. With over 1,000 blockchain companies, Switzerland became an international hub, with the canton of Zug at the forefront. The region came to be known as Crypto Valley.

    But the honeymoon is over. A sense of unease is spreading within the industry. Bitcoin pioneer Niklas Nikolajsen, a Danish national who moved to Switzerland in 2011 and now lives in Zug, recently told the Neue Zürcher Zeitung (NZZ) that Switzerland is no longer an attractive location for crypto businesses.

    Once, even a Federal Councilor visited the offices of crypto companies. In this politically favorable environment, the Financial Market Supervisory Authority (FINMA) even granted two crypto companies a banking license. That would be unthinkable today. When the political pressure faded, FINMA lost its nerve», Nikolajsen said.

    One point of contention is the treatment of stablecoins, which are crypto-assets pegged to a currency like the dollar, euro, or Swiss franc. FINMA now requires that all parties involved in stablecoin transactions be identified and has set concrete requirements for stablecoin issuers and the banks that provide backup guarantees. This has caused an outcry within crypto companies.

    Along with the developments in the US, this unease could quickly become toxic. If conditions for the crypto industry are relaxed under Trump while tightening in Switzerland, many companies are likely to leave the country. «No one is planning to move yet, but if Switzerland doesn’t take action soon, the decision will be made quickly», several crypto managers told finews.ch.

    One such move could be for the Swiss National Bank to be mandated to invest in Bitcoin, as proposed by a popular initiative. «If Switzerland only offers what everyone else does, we’re out of the picture. The Swiss market simply doesn’t offer enough», said one manager, putting it bluntly.

  • WhatsApp’s upcoming AI feature could be your new Google Lens

    WhatsApp’s upcoming AI feature could be your new Google Lens

    While Meta, the parent company of Facebook, Instagram, and WhatsApp, has been rolling back some of its policies lately, the push for AI seems to be going full steam ahead. The company is focused on making it even easier to access Meta AI, its AI-powered assistant, on Android phones.

    With the release of the latest WhatsApp beta for Android 2.25.1.27 update on the Google Play Store, it’s been discovered that WhatsApp is working on adding a widget for easy access to Meta AI

    It looks like, with an upcoming update, one of the most widely used messaging apps will let you access Meta AI right from your Home Screen. This new widget will be totally optional and will appear alongside other widgets WhatsApp offers.

    Just keep in mind that this feature will only be available to accounts that already have access to AI-powered chats. Since Meta AI is still limited to certain regions and users, not everyone will get this widget right off the bat. For example, it’s unavailable in the EU due to local laws and regulations.
    For those who do have access, though, the widget will make it super easy to start a conversation with Meta AI without needing to open WhatsApp or dig through its menus. It’ll be right there on your Home Screen, ready to go.
    With the widget, you’ll be able to ask questions, get help, or chat with Meta AI however you like. It’ll also include a quick shortcut to snap a photo and send it directly to Meta AI. Once that’s done, you’ll be able to ask the AI to edit the image, explain what’s in it, or answer any questions you might have about the photo.

    I think it’s kind of like how Google Lens works, offering more details about what’s in the image. However, WhatsApp’s feature is still in the works and will be rolled out in a future update.

    In other WhatsApp updates, the app could soon introduce a simpler, more streamlined way to create groups and communities. On top of that, it’s also working on a new “Chat with us” feature, which will make getting human support faster through its web app.
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  • Porsche Breaks Records in Switzerland

    Porsche Breaks Records in Switzerland

    Porsche set a new benchmark in Switzerland in 2024 with 5,042 new registrations, representing a 10.5 percent increase compared to the previous year. The brand also saw significant growth in electrified vehicles.

    Against the backdrop of an overall market decline in 2024, Porsche closed the year with a record performance in Switzerland and Liechtenstein, registering 5,042 vehicles—a 10.5 percent rise compared to 2023.

    Electrified vehicles (battery electric and plug-in hybrids) accounted for 31.2 percent of all Porsche registrations, also outpacing the market average of 28 percent. This translates to 1,574 vehicles—a 55.2 percent increase from the previous year.

    The all-electric Porsche Macan, introduced in 2024, set new standards for electric SUVs and contributed to a 36 percent growth in Porsche’s BEV segment.

    The Porsche Macan remained the best-selling model in Switzerland with 1,854 registrations, a 15.6 percent year-on-year increase. From September to December, 457 of these registrations were for the all-electric Macan.

    The iconic Porsche 911 saw 1,275 registrations in 2024, maintaining its status as a favorite among enthusiasts. Innovations such as the road-approved 911 GTS with its lightweight T-Hybrid system and the exclusive 911 GT3 RS Tribute to Jo Siffert enhanced the model’s appeal.

    Porsche continues to grow in a dynamic Swiss market,» said Holger Gerrmann, CEO of Porsche Schweiz AG. «With the youngest and most diverse product portfolio in our history, we are ideally positioned for the future, offering unmatched driving performance across various propulsion systems.

  • Nescafe USA launches coffee concentrate concept

    Nescafe USA launches coffee concentrate concept

    Nescafe USA has expanded its product range with the launch of its first-ever liquid coffee concentrate, Nescafe Espresso Concentrate.

    Made from 100 per cent Arabica beans, the coffee concentrate is available in two flavours: Black and Sweet Vanilla. It can be served over ice or mixed with milk or water.

    The Nescafe Espresso Concentrate was successfully launched last year in Australia and China.

    Felipe Acosta, the senior brand manager for Nescafe, said the new format is designed to provide consumers with an easier way to create cafe-style drinks at home.

    “While the tastes of Gen Z and millennial consumers are constantly evolving, the demand for cold, convenient, customisable, and cafe-quality coffee remains strong,” said Acosta.

    The company says two out of three youth globally regularly drink cold coffee drinks.

    “The brand’s first-ever liquid espresso empowers consumer creativity, allowing adventurous coffee lovers to make beverages in an instant – without the need for any extra machinery, all from the comfort of their own homes.”

    Nescafe Espresso Concentrate comes in a 300ml bottle – enough for about 20 cups of espresso when prepared as directed – and has an RRP of US$9.49.

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  • Rice export prices drop to 4-year low

    Rice export prices drop to 4-year low

    Vietnam’s 5% broken rice price has fallen to US$434 per ton, the lowest in four years, posing challenges for businesses and farmers.

    The price of the country’s 5% broken rice is now lower than that of its major competitors such as Thailand ($479), India ($440), and Pakistan ($448) per ton, according to the Vietnam Food Association.

    Hoang, a rice farmer in Can Tho City, expressed concerns about the winter-spring rice crop, which will be harvested after Lunar New Year (Tet) that peaks on Jan 29.

    He worries that continued price declines could result in losses for his family due to high input costs.

    “The sharp fall in rice prices has made traders hesitant to sign new contracts with farmers,” Hoang said.

    “Last year, at this time, traders were placing high deposits continuously, but now, no one is asking to buy rice. Many traders have already started their Tet holiday early.”

    A leader of a rice exporting enterprise in An Giang revealed that his company is focusing on fulfilling previously signed contracts. New contracts for the first and second quarters of 2025 have been delayed.

    “Rice prices are fluctuating continuously, and enterprises are wary of potential losses if they buy rice at high prices,” he explained. “We are closely monitoring the market and actual demand to make reasonable purchasing decisions.”

    The sharp decline in Vietnam’s rice export prices is attributed to several factors, including major rice-importing countries adopting policies to reduce imports, avoid high-priced purchases, and, in some cases, even announcing plans to halt rice imports in 2025.

    A representative of the food association, said the Philippines and Indonesia, two of Vietnam’s key rice buyers, increased their imports in 2024 to secure short-term inventories for food security. As a result, they are currently not rushing to buy Vietnam’s rice and are waiting for prices to drop further.

    India’s recent decision to resume rice exports, coupled with its abundant supply and competitive pricing, has also significantly impacted the global market, including Vietnam.

    Reports revealed that the Philippines is negotiating a contract to import more rice from India.

    Private buyers in the Philippines often purchase Vietnamese rice with limited quantities because of financial balance, capital turnover or bank debt repayment, further cooling down the market.

    In the coming time, as the 2024–2025 winter-spring crop reaches its peak harvest, rice prices are expected to face further downward pressure.

    According to the U.S. Department of Agriculture, global rice supply is expected to increase significantly this year, with production projected to hit a record high of over 530 million tons, up 3.1 million tons from the previous forecast.

    The rise in supply is largely attributed to India lifting its ban on non-Basmati white rice exports and expecting to export 21–22 million tons of rice in 2025, an increase of 5 million tons compared to 2024.

    In addition to India, other countries such as Egypt, Guyana, Japan, and Venezuela are also contributing to the increased production. However, the Philippines stands out as an exception, with its output forecast to decline.

    To maintain and expand market share, rice-exporting countries will need to adopt flexible market access strategies, focus on improving product quality, and explore new markets.

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  • DHL acquires reverse logistics leader, Inmar Supply Chain Solutions

    DHL acquires reverse logistics leader, Inmar Supply Chain Solutions

    DHL Supply Chain, the world’s leading contract logistics provider, announced the acquisition of Inmar Supply Chain Solutions, a division of Inmar Intelligence and a leading returns solutions provider for the retail e-commerce industry. The strategic acquisition will make DHL Supply Chain the largest provider of reverse logistics solutions in North America.

    The acquisition will result in 14 return centers and around 800 associates joining the DHL Supply Chain business expanding the company’s North American footprint which currently stands at over 520 warehouses supported by 52,000 associates. Additionally, DHL Supply Chain will now strengthen its returns capabilities to include product remarketing, recall management, and supply chain performance analytics. Inmar Intelligence will retain its pharmaceutical reverse distribution business.

    In the light of a rapidly growing e-commerce market and changing consumer behavior, returns are an increasingly important touchpoint for retail customers, both in store and online. These solutions will expand the value-added services available to DHL customers and create a more strategic delivery of holistic solutions for their most complex supply chain needs.

    “DHL Supply Chain’s market-leading logistics expertise and the addition of Inmar’s suite of returns services and its talented workforce will enable us to provide best-in-class logistics services to our industry customers. Together, we will create a returns business in North America that is unmatched in its depth, breadth, capabilities, and talent to fuel long-term growth,” said Oscar de Bok, Global CEO of DHL Supply Chain.

    “As companies strive to simplify their supply chain strategies and enhance their operational agility, DHL Supply Chain continues to innovate to provide comprehensive and integrated solutions. This acquisition strengthens our existing capabilities, allowing us to offer our customers a single-source solution for their entire supply chain, including the critical and complex area of returns management. This enhances the value we deliver to our customers by streamlining their operations, reducing complexity, and improving their overall supply chain efficiency,” said Patrick Kelleher, CEO of DHL Supply Chain, North America.

    He further added that, “The strategic growth opportunities that the returns market brings will enhance the success of DHL Supply Chain. It also puts us on the right path to support DHL Group’s plan to achieve 50% revenue growth by 2030 compared to 2023 as outlined in our recently announced Strategy 2030.”

    “Inmar Intelligence and DHL share a deep commitment to customer-focused innovation. Because of that, we are confident that DHL will build even greater things on top of the Inmar Supply Chain Solutions foundation that we developed over time. As well, we are thrilled that Inmar associates will have an even broader set of supply chain experiences available from which they can continue to learn and develop over time at DHL. For Inmar Intelligence, this deal sets the stage for us to apply an even deeper level of focus and investment into our core businesses that are expanding rapidly,” said Spencer Baird, CEO of Inmar Intelligence.

    Consumers expect retailers to provide a seamless returns process while retailers are faced with new challenges such as returns abuse and rising operational costs. Thus, the acquisition marks a logical step to foster DHL’s customer centric approach that involves collaboration, expertise, and integration to solve the greatest supply chain challenges.

    The acquisition of Inmar Supply Chain Solutions will also contribute to DHL’s strategic goal of decarbonizing its business by 2050. In the company’s recently announced Strategy 2030, sustainability is a strategic priority, recognizing its growing role as a key differentiator in the logistics sector. Assisting global customers to become carbon neutral is crucial, and DHL Group aims to achieve this by remaining the frontrunner in low-carbon logistics operations.

    At the core of returns management is the need to drive sustainability, and Inmar’s technology-driven reverse logistics solutions are recognized across the industry for reducing cost and eliminating the waste generated from returned consumer goods. Emphasis is placed on recommerce, which has diverted 99% of consumer returns from reaching a landfill; an approach that aligns with DHL’s commitment to make customers’ supply chains more sustainable.

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  • Indosat, ZTE Enhance Indonesia’s Connectivity with Advanced Microwave Technology

    Indosat, ZTE Enhance Indonesia’s Connectivity with Advanced Microwave Technology

    Utilizing ZTE’s microwave technology, the partnership aims to provide reliable, high-speed communication to remote islands and rural regions, granting more Indonesians access to IOH’s 4G network.

    Indonesia faces significant challenges in building communication infrastructure due to its rugged terrain and high costs. Traditional wired communication solutions often fall short, leaving many areas disconnected and limiting economic and social growth.

    To address this, Indosat and ZTE have deployed more than 550 ultra-capacity backbone microwave links nationwide, connecting nearly 80% of major cities and remote regions. ZTE’s innovative technology, designed for Indonesia’s specific needs, ensures long-distance, high-capacity transmission, providing previously isolated communities with reliable connectivity.

    Kevin Chen, Sales Director of PT., ZTE Indonesia, said, “ZTE are committed to seizing strategic opportunities in digitalization, intelligence, and low-carbon development. ZTE microwave backbone connects ZTE, IOH, and Indonesian residents together, [and] will explore more new possibilities in communication ways, contributing to the digital economic growth of Indonesia and the global community.”

    The solution incorporates advanced features tailored to Indonesia’s environmental conditions. ZTE’s multi-frequency Ultra Broadband Antennas (UBA) facilitate flexible frequency selection, reducing infrastructure costs. Customized branching units enhance efficiency and performance, while durable equipment withstands harsh weather conditions such as heavy rain, strong winds, and corrosion.

    Additionally, the integration of 4T4R modem boards and energy-saving technology ensures rapid deployment with minimal resources. The system’s scalable design supports future upgrades, enabling up to eight times the capacity and extended coverage to new areas.

    Indosat’s subscriber base has seen substantial growth, especially in remote regions, due to a strategic initiative that has expanded backhaul capacity in areas like Sumatra and Kalimantan to 2-3 Gbps, with peak speeds reaching up to 6 Gbps. This improved connectivity enables residents to access real-time information, online education, and digital entertainment seamlessly. Moreover, the initiative has spurred local economic development by generating employment opportunities, enhancing tourism, and encouraging knowledge exchange, while also driving progress in healthcare and education.

    Indosat and ZTE plan to strengthen their partnership to expand network coverage across Indonesia, focusing on improved communication infrastructure. Their joint efforts aim to enhance product capabilities, lower costs, and deliver innovative solutions to empower Indonesians in the digital age.

    Desmond Cheung, Director and Chief Technology Officer, Indosat Ooredoo Hutchison, commented, “This partnership with ZTE reflects our dedication to connecting communities across the nation, regardless of geographic challenges. By deploying advanced technology, we are not only improving digital experience but also unlocking opportunities for economic and social progress, creating a brighter digital future for Indonesia.”

  • YouTube TV simplifies 4K viewing with a simple pop up

    YouTube TV simplifies 4K viewing with a simple pop up

    YouTube TV just made it easier to find 4K content. Now, when you’re watching something that’s also available in ultra-high definition, a little notification will pop up on your screen to let you know.

    This is a great feature for people who want to watch the best possible picture quality whenever available. As we all know, 4K offers much sharper images and more vibrant colors than regular HD, making your viewing experience that much better.

    But why is this update necessary? Well, for some cord-cutters, YouTube TV has been a viable streaming service that lets you watch live TV channels over the internet. It is akin to having cable, but without the clunky box and the frustrating contracts.  Lots of people are choosing streaming services these days because they offer more flexibility and often cost less than traditional cable — in some cases, at least.

    The thing is, with so many streaming services and so much content, it can be hard to find what you want in the best possible quality. Before this update, YouTube TV made you dig through menus to see if something was available in 4K. That’s not exactly user-friendly. Now, they’ve simplified the process. If a 4K version is available, you’ll get a notification, and you can switch over with a simple click.

    Of course, there’s a bit of a trade-off. To watch 4K content on YouTube TV, you’ll need to subscribe to their “4K Plus add-on.” This add-on costs an extra $10 per month, on top of the regular YouTube TV subscription fee, which recently went up to $83 per month. So, you’ll end up paying a premium for that crisper, more detailed picture.

    That said, if you already have the 4K package with YouTube TV, it makes perfect sense to have this option available, so you can switch to watch the higher quality version that you are already paying for.

    Personally, I love the idea of easily finding 4K content, but I’m not a fan of the rising costs of streaming services these days. We thought we were cutting the cord, but what we actually found was that we could be paying the same, if not more, than we were paying before with traditional cable. It’s a tough situation for sure, as streaming is clearly the way to go these days for quality content that you can watch pretty much anywhere. I hope these price hikes have now reached their peak and do not continue to impact consumers.

  • TikTok confirms that it will shut down unless the Supreme Court blocks or delays the ban

    TikTok confirms that it will shut down unless the Supreme Court blocks or delays the ban

    It’s been a wild ride for the TikTok social media platform, as it faces a potential shutdown in the U.S. due to a law requiring its sale by its Chinese parent company, ByteDance. This legal battle has reached the Supreme Court, where arguments are being heard about the law’s impact on free speech and national security. Today, TikTok confirmed that it will indeed shut down its operations in the U.S. unless the Supreme Court blocks or delay the ban.

    The law, which passed with bipartisan support in Congress and was signed by President Biden, aims to address concerns about the Chinese government’s potential influence over TikTok. U.S. officials argue that Chinese authorities could compel ByteDance to share user data or manipulate content on the platform. However, TikTok maintains that there is no evidence of such actions and that the law infringes on free speech rights.

    The Supreme Court’s decision in this case could have significant implications for the millions of Americans who use TikTok for entertainment, information, and even their livelihoods. Content creators, in particular, are anxious about the potential disruption to their audience and income.

    According to a new report, TikTok has now said that unless the Supreme Court strikes down or delays the date this law is supposed to take effect, which is January 19th, the company will be forced to effectively shut down its site in the U.S. by the deadline. Keep in mind that an interruption of even a just month would cost the app one third of its daily U.S. users, not to mention a significant amount of advertising dollars.
    This case is not the first time the Supreme Court has been asked to rule on matters related to new media technologies. The justices have acknowledged their limited familiarity with these platforms, even as they grapple with complex issues of speech restrictions in the digital age.
    Adding to the urgency of the situation, the law is scheduled to take effect on January 19th, just days after the Supreme Court hears the arguments and a day before President-elect Donald Trump takes office. Trump has also asked for a delay in the case so that he could be involved in seeking a political resolution, but it remains to be seen if the judges will agree to that. The court’s decision could come down to the wire, leaving TikTok users and content creators in a state of uncertainty.

    This situation highlights the challenges of balancing national security concerns with the principles of free speech. The Supreme Court’s ruling will also undoubtedly set a precedent for how similar cases are handled in the future, so this case is definitely one for the ages.

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  • Indonesia raises retirement age to 59

    Indonesia raises retirement age to 59

    Indonesia will raise the retirement age for workers to 59, effective this year, in accordance with a government regulation on the Implementation of the Pension Guarantee Program.

    A regulation issued in 2015 set the retirement age at 56, with a provision for gradual increases. Starting Jan. 1, 2019, the retirement age was raised to 57, with plans for it to increase by one year every three years until reaching a maximum of 65.

    As outlined by the regulation, the retirement age will increase to 59 beginning in January 2025 and remain in effect until 2028.

    The updated retirement age also serves as a reference for workers registered with the Employment Social Security Administration Agency (BPJS TK) to claim their pension benefits.

    The gradual increase reflects Indonesia’s efforts to address demographic and economic changes, ensuring the sustainability of the pension system while promoting the financial security of the country’s aging workforce.

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  • Miniso opens first Thai flagship store in Bangkok

    Miniso opens first Thai flagship store in Bangkok

    Lifestyle brand Miniso is about to open its first theme park-style flagship store in Bangkok, Thailand.

    Located at Asiatique The Riverfront, the two-story, 600sqm space will feature more than 20 unique IP collections across various products, including plushies, toys, cosmetics, and stationery.

    The store will also introduce its Harry Potter collection to the country, showcased in a Hogwarts-inspired fireplace area. Additionally, themed zones and installations will feature characters such as Lotso Bear from Toy Story, Stitch, Winnie the Pooh, and a Minions zone.

    “By reimagining the shopping experience with IP collaboration at its core, we hope to capture the imaginations of shoppers around the world,” said the company.

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  • Shein scales up eco-friendly denim production

    Shein scales up eco-friendly denim production

    Shein is scaling its adoption of Cool Transfer Denim Printing technology by 90 per cent to boost sustainability in denim production.

    This method – implemented in 2021 in partnership with NTX – significantly reduces water and energy consumption while streamlining the manufacturing process.

    Last year, approximately 380,000 pieces of Shein denim apparel were made using Cool Transfer Denim Printing, saving more than 10,000 metric tonnes of water compared to traditional production methods.

    Traditional denim production is resource-intensive, requiring large amounts of water and energy for dyeing, bleaching, and washing.

    In contrast, Cool Transfer Denim Printing eliminates these high-consumption steps, using less water, dye, and energy. The method transfers designs from paper to fabric without heat, with a soft-hand feel.

    Aside from the method’s sustainability benefits, Shein said it also improves worker safety by reducing exposure to harmful chemicals like chlorine and caustic soda, commonly used in conventional processes.

  • Indonesia’s Bukalapak to scale down to virtual products

    Indonesia’s Bukalapak to scale down to virtual products

    Indonesian e-commerce firm Bukalapak said on Tuesday that it would stop selling physical items on its marketplace soon, amid tough competition from TikTok’s Tokopedia and Sea’s Shopee in Southeast Asia’s largest economy.

    Bukalapak, which went public in 2021, said in a statement that it later would only sell virtual products ranging from mobile phone credits to streaming vouchers. Customers have until February 9 to make last orders for certain items, Bukalapak added.

    “Bukalapak will undergo a transformation in an effort to increase focus on virtual products … we fully understand that these changes will impact the sellers and we are committed to making this transition as smooth as possible,” the company said.

    Shares of Bukalapak were down 4.1 percent to 117 rupiah on Wednesday as of 0519 GMT.

    On the day of its market debut in August 2021, Bukalapak shares had soared by the daily limit of 25 percent to 1,060 rupiah a piece as investors looked to get a piece of the company that raised $1.5 billion in its initial public offering.

    But over the three years since its listing, Bukalapak has faced fierce competition from Indonesia’s e-commerce market leader Shopee, which is owned by Southeast Asian technology firm Sea, and from Tokopedia.

    Tokopedia, another homegrown e-commerce company, is now majority owned by ByteDance’s TikTok, which acquired 75.01 percent of the shares from local tech conglomerate GoTo early last year.

    Bukalapak reported a loss of 593.23 billion rupiah ($36.62 million) in the first nine months of 2024, according to its latest financial results.

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