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Tag: asia

  • Tesla Rolls Out FSD Beta V10 To Early Access Fleet

    Tesla Rolls Out FSD Beta V10 To Early Access Fleet

    Predictably, and for once on time, Tesla has rolled out the v10 of the full self-driving beta software which Elon Musk described as mind-blowing just a few weeks ago. Perhaps, as most have noticed, the most mind-blowing thing is that Tesla and Musk delivered.

    The software enables the self-driving capability for Tesla’s EVs that have the full self-driving package, but this capability is still adorned with astrix of level 2 autonomous capability, not level 4 which is the bare minimum number for self-driving cars that can operate in a hands-free manner.

    Elon Musk had indicated earlier that the full self-driving software will be deployed soon when it hits v10 which now it has at least for the early access fleet, but soon if it is bug-ridden, it could be deployed to a wider audience. Many users have started reporting that they have received the update and posted screenshots of the same on Twitter.

    One of the more notable changes is that the driver visualizations have been updated with a more modern and minimal look. Elon Musk has promised that it could be there for many other users by the end of the month with a download button in the offing but Musk has flattered to deceive not once but on numerous occasions.

    Tesla announced earlier in the year that will stop using radars on its cars and will have a vision-based self-driving system that will use algorithms trained on its Dojo supercomputer which are processed on the device on the FSD computer on the vehicle itself. This has led some authorities to downgrade the safety rating of Tesla vehicles.

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  • Citi Nets Ex-Goldman Southeast Asia Investment Banker

    Citi Nets Ex-Goldman Southeast Asia Investment Banker

    Citigroup has reportedly hired the former Southeast Asia head of investment banking from Goldman Sachs.

    Harry Naysmith will join Citi as its vice chairman of banking, capital markets and advisory for Southeast Asia.

    Naismith joined Goldman Sachs in 2013, last as its Southeast Asia head of investment banking. Previously, he also spent five years with ABN AMRO.

    Naysmith is the second Goldman head of Southeast Asia investment banking to join Citi in recent years.

    12-year Goldman executive and former Southeast Asia investment banking co-head Udhay Furtado left in September 2018 to join Citi as its co-head of equity capital markets.

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  • DBS Digital Exchange to Grow Security Token Offerings

    DBS Digital Exchange to Grow Security Token Offerings

    The platform plans to tap on the growing popularity of cryptocurrencies and digital assets among corporate investors, accredited individuals and family offices.

    DBS plans to list at least half a dozen security tokens by end-2022 on DDEx, the bank’s institutional-focused digital asset exchange, the exchange’s chairman said on Monday.

    According to Eng-Kwok Seat Moey, who is also head of capital markets, the bank’s position as one of the biggest wealth managers in Asia and its expertise in originating deals in capital markets would help it attract users and grow trading volume.

    The bank listed its first security token on the platform in May 2021, in the form of a S$15 million digital bond.

    Eng-Kwok repeated CEO Piyush Gupta’s target of growing the digital exchange’s investor base to about 1,000 customers this year, and said DBS wants to grow this number by 20-30 percent annually for the next three years as digital tokens gain acceptability.

    DDEx was launched in December 2020 with an initial offering that covered cryptocurrency trading. As of August 2021, it housed around 400 investors with close to S$130 million ($95.8 million) of digital assets in its custodial services.

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  • SGX Directors to Retire

    SGX Directors to Retire

    Singapore Exchange (SGX), has announced personnel changes to its board of directors.

    Jane Diplock, non-executive non-independent director, will be retiring from the board by rotation at the end of the bourse’s 22nd Annual General Meeting on 7 October, SGX said in a filing on Tuesday.

    Diplock, 72, was also a member of SGX’s audit and risk management committees. She was appointed to her role in 2011.

    Also retiring from office on 7 October is non-executive non-independent director Ng Wai Keng, who is being considered for an appointment that requires him to address any potential conflict of interest. Ng, 54, was appointed to the position in 2018, and was also a member of SGX’s remuneration and staff development committee.

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  • Apple Adds More Drivers For Testing Self Driving Cars In California

    Apple Adds More Drivers For Testing Self Driving Cars In California

    It is no secret that Apple is lagging behind the likes of Google, Aurora, Cruise, Tesla, and many more when it comes down to self-driving technology. It even lost its lead of project titan aka the Apple Car project – Doug Field – to Ford recently. But now there are signs that it is ramping up testing of its self-driving car software with it increasing the number of pilots it has for tests in the last month.

    In August, Apple’s autonomous driving program consisted of 69 vehicles and 92 pilots as per a filing with the California DMV. Now that number has risen to 114 registered drivers as of September 10 which is just last week. This number is still lower than the peak of 154 drivers which was achieved in October 2020. There are signs that Apple is increasing its fleet after almost halving it in 2020.

    Waymo and Cruise have the most vehicles with each having 616 and 201 autonomous cars on the prowl in California. Apple just has 69 cars and is yet to apply for a driverless permit. DMV filings also reveal that Apple’s vehicles were involved in two collisions since last August achieving a total of five in the year. It has been reported that Apple’s system for autonomy disengaged at the time of the accident and the other vehicle was to blame for the two recent incidents.

    Apple has been developing a self-driving system for the last couple of years and this system will be applied to a chassis that will be powered by an electric powertrain with unique battery technology. Recently, after the exit of Field, Apple elevated Apple Watch software boss and healthcare head, Kevin Lynch to being the head of the Apple Car project. Lynch himself reports to Apple COO Jeff Williams and the overall project is under Apple AI chief and senior VP, John Giannandrea.

    Apple has been also on the lookout for a manufacturing partner having had chats with Hyundai, Magna, Kia, Toyota and Nissan for a contract manufacturer agreement, something that’s yet to be closed. Many believe Apple could be launching its car by 2025, but many Apple watchers believe that may not be true and the project isn’t as further along as many believe. Regardless, this will like also be the last major product launch under CEO Tim Cook who has been at Apple since 1998 and recently completed a decade at the top of the Silicon Valley giant.

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  • Government fund subscribes to Vietnam Airlines right issue

    Government fund subscribes to Vietnam Airlines right issue

    Vietnam’s sovereign fund has subscribed to Vietnam Airlines’s rights offering amid its accumulating losses due to Covid-19.

    The State Capital Investment Corporation (SCIC) paid VND6.89 trillion ($303.56 million) to acquire 689.5 million shares and kept its ownership rate in the state-owned carrier at 31.08 percent.

    The airline’s HVN ticker rose by the maximum allowed 7 percent Monday, its sixth consecutive day of gain.

    HVN’s issued VND8 trillion worth of stocks to existing shareholders to increase its capital.

    Japan’s ANA Holdings, the operator of All Nippon Airways which owns an 8.77 percent stake in Vietnam Airlines, sold its rights to buy 70 million shares to Vietnam Airlines employees since it is itself facing financial difficulties.

    The carrier estimates its losses for the first half of 2021 at around VND10.79 trillion.

  • Experts warn of risks to premature economic reopening

    Experts warn of risks to premature economic reopening

    Reopening the economy is necessary but any untimely decision amid low vaccination rates and high contagion risks could stymie the country’s efforts to defeat Covid-19, experts warn.

    “The premature lifting of the lockdown and reopening the economy while the full vaccination rate remains low, new infections and fatality rates are still soaring and the health system is overburdened may even endanger the economy and people’s lives more badly,” Nguyen Minh Cuong, principal country economist at the Asian Development Bank said.

    But the country stands at a crossroads since lengthening strict social distancing is likely to inflict further socio-economic costs and endanger its medium- and long-term growth prospects, he told VnExpress International in an emailed statement.

    Prime Minister Pham Minh Chinh and Ho Chi Minh City leaders have spoken about letting economic activities resume gradually and how the lockdown “cannot go on forever.”

    Vietnam has been struggling in its Covid-19 fight since the end of April when a fourth wave began and infected nearly 609,000 people and killed over 15,000.

    HCMC, the largest city and major manufacturing and exporting hub, has imposed strict social distancing for over two months but still thousands of new cases are being found every day.

    This is why analysts are reluctant about resuming economic activities now.

    “It is complicated to find the perfect moment to reopen the economy,” Tim Evans, CEO of HSBC Vietnam, said.

    The risks of doing this too early at a time when vaccination is not up to optimum speed and the medical system is overwhelmed could lead to additional Covid cases resulting in a further increase in mortality rates, he said.

    Other experts concurred.

    “In our view, reopening the economy, especially in the epicenter HCMC, is a risky move,” Jason Yek, senior Asia country risk analyst at market research company Fitch Solutions, said.

    The rate of full vaccination in Vietnam is low, and reopening before the outbreak has been suppressed would possibly elicit a lukewarm response from consumers, he said.

    Vietnam has vaccinated 24 percent of its population, but only 5.2 percent have received two doses.

    The country has received 29.8 million doses of vaccine, or only one-fifth of its target of 150 million doses to vaccinate 70 percent of the population.

    This is why a premature opening risks a surge in infections which would overwhelm the healthcare system and could force the government to tighten restrictions again, Yek said.

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  • Vinamilk ramps up R&D to win big globally

    Vinamilk ramps up R&D to win big globally

    The Vietnam Dairy Products JSC is stepping up R&D to create innovative products enriched with local flavors to satisfy the diverse range of global tastes.

    With its strategic investment in product development, international expansion, and commitment to sustainability, Vinamilk has become the only Vietnamese dairy company in the top 50 global dairy producers. This year it is ranked 36th.

    Vinamilk’s R&D efforts have developed customized products tailored to the Asian, African, and Middle Eastern markets despite the challenges of limited research data in some of these regions.

    Starting with only one infant cereal SKU, the company has since successfully developed and established 66 SKUs in multiple markets. One of Vinamilk’s successful innovative products is the Ridielac infant cereal with banana and date flavors.

    Launched in the Middle East five years ago, this infant cereal with a distinctive local flavor has been well received, and it underpinned the subsequent penetration into North Africa.

    The dairy giant has also fortified its African products with vitamin A and minerals to help tackle the challenge of vitamin A deficiency. This problem threatens 42.4 percent of sub-Saharan African children with an increased risk of mortality.

    In the Middle East, which accounts for 80 percent of Vinamilk’s export revenues, the company’s localized Ridielac is a favorite among locals, especially for the variety in flavors that enables people to switch their babies’ daily diet regularly.

    In Asia, Vinamilk has introduced sweetened condensed coconut milk in Japan to address the demand for plant-based milk amid local consumers’ dairy allergies.

    “Our long-term relationship with Vinamilk was built upon accurate and flexible export services and high-quality products meeting all Japanese standards,” Jun Hamada, Vinamilk’s Japanese partner, said.

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  • 5 Reasons for Loyalty Program from Small Business

    5 Reasons for Loyalty Program from Small Business

    Several businesses have implemented a loyalty program, and for a healthy reason. They increase purchases volumes, improve customer loyalty, encourage repeat clients, and much more.

    According to studies, it costs five times as much to attract a new client than retain an existing one. That’s why small firms need to turn a one-time customer into a loyal, repeat customer.

    And yes, a loyalty program from small business is your secret weapon. According to statistics, 40 percent of customers are likely to buy again from businesses and brands that reward loyalty.

    Here are the main reasons why small businesses should invest in loyalty programs for their customers.

    1. Gather Customer Data

    Yes, a customer loyalty program gives you a high quality of data associated with having their purchases synched into an organized system. Rather than play a guessing game about how new and existing customers are spending money with your firm, the loyalty program provides insightful information on their shopping habits.

    The valuable data helps you make market-specific products or promotions to the existing clientele. All this will be based on their spending habits.

    1. Helps You Retain Existing Customers

    Yes, retaining an existing customer is exponentially easier, less costly, and more beneficial than attracting new ones. According to studies, increasing the retention rate by five percent increases profits by anywhere from 25 to 95 percent. But that’s not all, attracting a new customer will cost your firm 5 times more than retaining an existing one. And yes, existing customers are known to spread the gospel about the quality of your products, services, and loyalty program to their friends and relatives. All this helps grow your business.

    1. Increase in Sales

    A customer is always looking for a better deal in terms of quality and price or both. So, why would a customer pay more for a deal when they can pay less or get loyalty perks for buying the same products or services in your store?

    According to statistics, over 70 percent of buyers are likely to purchase products from a business that offers a loyalty reward program. Therefore, a loyalty program is a perfect tool to increase sales and revenue for a business.

    1. Increases Brand Awareness

    Yes, brand awareness is among the major factors driving customer’s buying decisions. Markets are extremely competitive and overcrowded, therefore, customers are likely to stick with a company or brand they know.

    The market instability –previous and current- makes the price a major factor when buying products. This creates a gap in the market for firms that give back to their customers allowing them to stand out from the rest.

    And yes, customers share their experiences with their friends and relatives, therefore don’t underestimate the power of referrals. If a client is receiving a discount or cashback from your purchase, there’s a probability they’ll share the information with their friends and relatives.

    1. Measure Customer Loyalty Value

    Other than gathering data for customer loyalty programs, it is also providing you an opportunity to measure how valuable an individual customer is to your firm. For instance, you can gather data on how much data they spend annually or how frequently they shop in your stores.

    All this information helps you connect and relate with your most engaged fans. The continuous data feed helps you refine the loyalty program to reach the repeat top customers as efficiently as possible.

    Conclusion

    As a small business owner, you want to grow your business to greater heights. Well, investing in loyalty programs may help you realize this dream. It does so by increasing your building customer loyalty, which in turn results in higher sales. And yes, you can use the program to measure the loyalty value and tailor your programs to reach the top customers as efficiently as possible.

     

     

  • Kellogg’s introduces mixed grain bar

    Kellogg’s introduces mixed grain bar

    Kellogg’s retailers are set for a boost this summer as Kellogg’s announces the launch of three new products. This July, Kellogg’s is introducing Kellogg’s Multi-grain Corn Flakes to the cereal category, a new product from its oldest brand.

    Kellogg’s retailers are set for a boost this summer as Kellogg’s announces the launch of three new products. This July, Kellogg’s is introducing Kellogg’s Multi-grain Corn Flakes to the cereal category, a new product from its oldest brand. Kellogg’s Multi-grain Corn Flakes contains the goodness of three grains; each golden flake is a combination of corn, wholegrain rice and wheat. Kellogg’s consumer research shows that Kellogg’s Corn Flakes are still a firm favorite.

    This new innovation offers fans of the Original the great taste of Kellogg’s Corn Flakes but with the added extra of the goodness of multi-grain.Kellogg’s Corn Flakes fits into the ‘everyday favourites’ sector of the cereal market which is currently worth £269m. Kellogg’s hopes that innovation from its best-loved cereal will enable retailers to maximise on this growing sector.

    Support will begin with TV advertising and promotional pricing beginning in August.

    UK Sales Director, Kevin Brownsey, comments, ”Kellogg’s Multi-grain Corn Flakes are the perfect product for retailers to make the most of the growing consumer interest in health. Consumers trust the Original and know it’s a good breakfast choice – the addition of multi-grain helps to strengthen its health credentials”.

    The snacks category will also be expanded with Nutri-Grain Chocolate Oat-Baked Bar and Special K Mini-Breaks.

    Kellogg’s is building upon the incredible success of Kellogg’s Nutri-Grain Oat Baked Bars with a new variant – Nutri-Grain Chocolate Oat Baked Bars. Launched last year, Nutri-Grain Oat Baked Bars proved a welcome addition to the portfolio and was the number one Kellogg’s snack innovation for 2006.

    The new variant has the same substantial flapjack texture of the original but the added chocolate also satisfies consumers’ sweet cravings.

    Research shows that new product development (NPD) is increasingly important to the total cereal bars category and is now worth over 10% of the total value. Nutri-Grain NPD has also consistently driven the brand growth.

    The entire Nutri-Grain Oat Baked Bars range will be supported with TV advertising in September and the new chocolate variant will be advertised on back of packs. In July, money-off vouchers will hit 2,000,000 households.

    Kellogg’s is also widening its snack offerings with a new bagged snack – new Special K Mini Breaks. At just 99 calories a bag, these new biscuity bites of baked golden oats, wheat, and rice are a controlled calorie solution for consumers with an attack of ‘the nibbles’. The bagged format is designed to fit a number of snacking needs such as snacking at the desk, sharing, and ‘boredom snacking’.

    Available in two variants – Original (multi-packs and singles) and Chocolate (multi-packs) – Special K Mini Breaks will help retailers to achieve incremental growth on the Special K snacking brand. Previous snack innovations for this brand have proved very successful, for example, Special K Chocolate Chip Bar was launched in 2005 and is now worth over £5m.

    Special K Mini Breaks will begin with a four-week burst of TV advertising in September and the product will appear on the back of packs of existing Special K snacks and cereal.

    UK Sales Director, Kevin Brownsey, comments,” With such a diverse number of snacking occasions, the snacks sector is an area of significant opportunities for retailers. The new Nutri-Grain Bar and Special K Mini Breaks help retailers to provide a product to fit these emerging occasions and fill as many consumer snacking needs as possible. The popularity of bagged snacks is growing and Special K Mini Breaks are just the first in a number of bagged snacks innovations planned by Kellogg’s over the next two years.”

  • Vietnam coffee exports to UK drops

    Vietnam coffee exports to UK drops

    Vietnam’s coffee exports to the U.K. have declined in H1 after its products failed to meet quality requirements and consumer preferences. The fourth wave of Covid-19 that hit the country also affected export activities.

    Coffee exports to Britain fell by 48.4 percent in volume terms and 49.3 percent in value to 16,400 tons and $29 million. Vietnam’s share of that coffee market decreased from 27.32 percent to 16.35 percent.

    The U.K.’s coffee imports from most of its suppliers increased during the period, except from Vietnam and Honduras. Vietnam’s exports to the country are in the form of raw or semi-processed coffee, while the British mainly consume instant coffee.

    Experts said the Vietnamese coffee industry should strive to meet its increasingly stringent requirements and British consumers’ tastes to boost exports.

    Vietnam is the second-biggest coffee producer globally behind Brazil. Last year, its exports fell marginally and were worth $2.74 billion.

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  • Spotify’s new Enhanced feature will upgrade your playlists

    Spotify’s new Enhanced feature will upgrade your playlists

    Spotify’s new Enhanced feature promises to further improve your playlists with personalized recommendations. The music streaming service announced the new feature is rolling out this week to all its Premium users, so if you don’t pay for a Spotify subscription, you won’t be getting this one sadly.

    So, how is this Enhanced feature going to work for your playlists? First off, you’d need to toggle the feature on by tapping the new Enhance button at the top of each playlist. Once that’s done, recommendations will be added to the track list. According to Spotify, one recommendation will appear after every two tracks, for a max of 30 recommendations.

    Of course, you can choose to not add a recommendation to your playlist, but if you want to include it on your tracklist, simply press the “+” icon next to each track. All songs added through this method will never be replaced, but you can turn off Enhance at any time just like you enabled it.

    Spotify’s Enhanced feature will be rolling out to Premium users on Android and iOS in the following markets: Andorra, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Cyprus Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Monaco, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland, Turkey, U.K., and the U.S.

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  • H&M plans showing its first Home concept store in Paris

    H&M plans showing its first Home concept store in Paris

    The Swedish giant is about to open an XXL store in Paris. Officially inaugurated on Thursday September 9, 2021, this H&M Home store is to open in the famous Madeleine area. Here is what we know about this spot already.

    Good news for home décor fans looking for bargains. H&M is opening this Fall 2021 a new store dedicated to home. Called H&M Home, this first 100% home décor store in France by the Swedish giant is to take over the Madeleine district – already housing the first IKEA store in Paris.

    It is at 14 boulevard des Capucines, a stone’s throw from Olympia, and not far from their flagship the concept-store is about to welcome Parisians and tourists looking for bargains to transform their indoors. This new spot, covering 724sqm, will feature different styles, also available in the H&M Home collection and collaborations with other brands.

    In addition to decoration for each room, you can find storage units, accessories, bedding, indoor clothing, crockery, toys for children, and even furniture to fit on small surfaces. This will be the occasion for small budgets to change their décor for a lesser cost.

    So, when will this new H&M concept store dedicated to indoor decoration open in Paris? The official opening is scheduled on Thursday September 9, 2021 with a special weekend including exclusive guest brands to enjoy on-site, and a never-before-seen digital experience.

    After the opening of an Ikea Décoration in Paris 1st arrondissement, and before the inauguration of Maxi Bazar in the 13th, stores dedicated to decoration are very trendy in town!

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  • LG, Samsung are hiring again in Vietnam

    LG, Samsung are hiring again in Vietnam

    Two Korean technology giants are seeking to hire thousands of people in Vietnam, including workers, engineers and IT staff. In September, Samsung announced it is looking to hire 1,000 production staff for its Bac Ninh factory. A month earlier it said it wanted to recruit 3,000 workers for its Thai Nguyen plant.

    The company plans to expand operations at the former to increase production of flagship phones Z Fold and Z Flip to 25 million units a year.

    It is also looking to recruit thousands of employees to work in R&D. It is building a $220-million R&D center in Hanoi with 2,200 – 3,000 researchers and other staff, and plans to open it in 2022.

    LG’s factory in Hai Phong is also hiring new laborers, including IT and R&D engineers.

    It is offering VND9,5-13 million for a technician’s position. The LG Display factory in Hai Phong also announced that it is in need of 5,000 more production workers.

    Due to Covid-19, the recruitment is only in Hai Phong and candidates from elsewhere cannot apply this time, an HR official said.

    LG has three large factories in Hai Phong, mainly producing phones, TVs, air conditioners, vacuum cleaners, washing machines, and refrigerators.

    Samsung has six production facilities in Ho Chi Minh City, Hanoi and Bac Ninh and Thai Nguyen provinces that make handheld devices and home electronics, and employ more than 160,000 workers.

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  • Alibaba-backed fund invests in retail chain Homefarm

    Alibaba-backed fund invests in retail chain Homefarm

    An Alibaba-backed fund has invested an undisclosed amount in Vietnamese retail chain Homefarm.

    The investment by eWTP Technology and Innovation Fund is a “seven-digit figure,” the company’s CEO Tran Van Truong said.

    Homefarm, which has around 150 stores that sell meat, fish and groceries imported from several countries including the U.S., Australia and South Korea, plans to have 1,000 by 2025, he said.

    The funding was through ReDefine Capital Fund, a Singapore-registered investment entity controlled by eWTP.

    The $600-million eWTP Technology and Innovation Fund was set up in 2018 with Chinese billionaire Jack Ma’s Alibaba and Ant Group as cornerstone investors.

    It reportedly invested recently in Vietnamese retail company Ficus Asia Investment and ed-tech firm Educa Corporation.

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