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Tag: asia

  • Microsoft Office for Android updated with option to capture voice recordings

    Microsoft Office for Android updated with option to capture voice recordings

    Microsoft rolled out important new features to Office Mobile in the last month. After getting full-fledged dark mode support back in May, the Android version of Office Mobile is now gaining yet another new feature: the ability to capture voice recordings.

    As the name suggests, the new feature lets Android users go beyond simple voice memos, with live speech-to-text transcription. The implementation includes additional benefits like synced text highlighting during playback and the ability to share content by exporting it to other Microsoft 365 apps and services.

    Only for Microsoft 365 subscribers, the new feature allows for partition and transcription of the input from different speakers based on their identity. Here is how the new feature works:

    • In the Microsoft Office app on your Android device, tap the “+” button at the bottom of the Home tab.
    • Under Quick capture, tap Voice to launch the voice capture experience.
    • Start speaking to record and tap the Done button when finished. Your recording will be saved as a voice card. You can view all your voice captures in a list view.
    • To review your recording, select the voice card for playback with synced text highlighting. Your voice recordings are also available on your Home tab for easy access.

    Microsoft announced that the ability to capture voice recordings is now rolling out to users of the Office Mobile for Android with English (US) selected as their language and country/region.

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  • Coles doubles down on payments with launch of Flypay for grocery

    Coles doubles down on payments with launch of Flypay for grocery

    By using Flypay, Coles customers will no longer need to enter their payment and delivery information separately when shopping at Coles group retailers online.

    Once customers set up their Flypay account, all they do is select ‘Flypay’ when completing the transaction.

    This new way to pay also includes the Flybuys reward card, so customers can collect points.

    Coles chief of emerging businesses George Saoud said the new system makes shopping online faster, easier and more secure.

    “Coles is committed to helping our customers shop more easily anytime, anywhere, and we are thrilled to introduce Flypay as a payment option for customers shopping at any of our online liquor retailers,” he said.

    The payments system was co-developed by Coles and Bell Identification, a Visa solution.

    Visa head of merchant sales and acquiring Dan Parsons said speedy and secure ways to pay are “more important than ever”.

    Eligible retail outlets include:

    • Coles online
    • Coles Liquor
    • Liquorland
    • First Choice Liquor and Liquor Market

    More Coles-branded retailers will be added in the coming months, according to the group.

    The Foundation for Alcohol Research and Education (FARE) has flagged concern about easy online ordering of alcohol during COVID-19.

    FARE chief Caterina Giorgi said it would be “seriously worrying” if it were easier for retailers to sell alcohol to people who are intoxicated or who are underage.

    “Even now, fundamental community standards around the way alcohol is sold are not upheld by online alcohol retailers and there is not enough alcohol industry accountability,” she said.

    “Alcohol companies have been taking advantage of people’s fear and anxiety by urging us to drink to cope with the COVID-19 pandemic.

    “This is concerning because the evidence shows that drinking alcohol can make people’s stress, anxiety and depression worse.”

    There are also concerns around alcohol-fuelled harm according to Ms Giorgi.

    “Alcohol-fuelled harm in the home is often invisible and there are strong indications of family and intimate-partner violence escalating,” Ms Giorgi said.

    “As online alcohol retailing increases and expands across platforms we need common sense controls in place to keep families and communities healthy and safe, including ending rapid and late-night delivery and requiring age verification at point of sale and delivery.”

    “We are most concerned about children and young people, and people who are intoxicated being sold alcohol well into the night by online alcohol retailers who aren’t even required by law to verify proof of age.”

    However, a Coles spokesperson told Savings.com.au that Flypay does not make it any easier to pay for alcohol than other ways to pay.

    “We take our responsible service of alcohol obligations seriously,” they said.

    “While Flypay makes it easier for customers to complete their transaction, it does not make it any easier to purchase alcohol than using any other form of payment.

    “For online alcohol purchases, customers need to show ID when they have it delivered.

    “This is the same process for card purchases or Paypal, which we already offer on these websites.”

    In the past week, FARE released a study in conjunction with Women’s Safety NSW that found 51% of family violence specialists across that state have seen an increase in the involvement of alcohol in cases since the COVID-19 restrictions were introduced.

    Earlier in May, FARE also released a report that found in just one hour on a Friday night, 107 sponsored alcohol advertisements were displayed on a person’s Facebook and Instagram accounts – one alcohol advertisement every 35 seconds.

    The report found 58% of the ads’ main message was getting easy access to alcohol without leaving the home.

  • Taxes on securities up 320 pct

    Taxes on securities up 320 pct

    Capital gains taxes on securities surged 320 percent year-on-year in the first five months as new investors flocked to the stock market.

    They were one of the major contributors to personal income tax collection in the first five months, which rose by nearly 13 percent, Cao Anh Tuan, head of the General Department of Taxation, said.

    Vietnam imposes a flat 0.1 percent capital tax on every stock sale.

    Other contributors were real estate (up 183 percent) and personal investment (up 169 percent), Tuan added.

    In May, an average of 3,600 individual stock trading accounts was opened each day, the highest ever. The number of accounts now has risen 11-fold since January 2020 to 3.2 million, or one each for 3.26 percent of the population.

    In the first five months of this year, 480,000 accounts were opened.

    In the period, the benchmark VN-Index gained over 20 percent, the highest in Asia.

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  • StanChart Partners Templeton for Retirement Planning App

    StanChart Partners Templeton for Retirement Planning App

    Available on Google Play and Apple’s App Store, «Autumn» integrates wellness with wealth management on an independent and bank agnostic platform.

    SC Ventures, the innovation and ventures unit of Standard Chartered, has launched «Autumn», a digital wealth, health, and lifestyle solution that provides users with tools, products, and services to plan and manage their financial and physical wellbeing.

    As a strategic partner, Franklin Templeton will provide users with access to financial literacy content and investment insights, which can be customized based on risk profile and financial data. Autumn will also be bringing lifestyle partners on board, including travel services and volunteering opportunities.

    Standard Chartered highlighted that 15 percent of Asia’s population will be over the age of 65 by 2040, citing UN data, and the need for a bundled offering to address all their needs in a holistic and personalized manner.

    By combining digital wealth technology with health, lifestyle, and financial wellness, we’ll help users adopt healthier habits and create a retirement that is personalized for them, Mike Kruger, Autumn CEO, said in the announcement.

    Banks have been quick to capitalize on Asia’s greying population and heightened interest in wealth planning. Launches of similar platforms this year have included Julius Baer, which launched its digital wealth advisory platform in Asia in April, while DBS also rolled out a personal digital advisory to its financial planner.

    Standard Chartered itself debuted a free, do-it-yourself online financial planning app this year.

    Autumn is now available in Singapore, with plans underway to roll out the platform progressively in Hong Kong and other markets in Asia, Standard Chartered said.

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  • Hong Kong Explores Central Bank Digital Currency

    Hong Kong Explores Central Bank Digital Currency

    The Hong Kong Monetary Authority is exploring the feasibility of issuing a digital currency for the city, joining central banking efforts worldwide to create electronic money.

    A paper exploring the feasibility of issuing a retail-focused central bank digital currency (CBDC) will be delivered within 12 months, according to the HKMA at a recent media briefing.

    Issues that will be considered in the paper include potential use cases, data privacy, anti-money laundering standards, and more.

    In addition, HKMA officials also announced a new trial to explore how Hong Kong residents can top up a digital yuan wallet using the city’s local payment system.

    People are now a lot more used to digital payments and if other central banks are exploring possible use cases for CBDCs you have to try out to see whether you can make it successful, said HKMA chief executive Eddie Yue at the briefing.

    This marks the second stage of e-CNY trials in Hong Kong following a smaller scale trial also focused on the usage of digital yuan wallets in Hong Kong.

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  • OmniFoods introduces faux fish range

    OmniFoods introduces faux fish range

    Green Monday, the founder of the OmniFoods plant-based meat alternative products, has expanded into seafood unveiling six plant-based alternative fish products Tuesday, with more to follow.

    “Now, we can enjoy fish and chips without harming the ocean,” said Green Monday co-founder and CEO David Yeung.

    The initial products include precooked battered deep-fried fillets, classic fillets, and burger-shaped fillets and OmniTuna. Faux salmon and crab meat products will join the range soon, while the tuna product marks the first Omni product that can be stored in ambient conditions with no need for chilling or freezing.

    OmniFoods products are distributed in Australia by partners but details of when the seafood replacements will go on sale have yet to be revealed.

    Yeung said the new products can be used in almost any type of cuisine including Thai, Japanese and Korean dishes. They have zero cholesterol, 9gm of protein and have Omega-3, a naturally occurring ingredient of fish, added.

    Researched by Green Monday staff since 2018, the products will be produced in Thailand and soon China as well.

    Since launching in 2012, Green Monday has grown to include advocacy and investment arms as well as producing pork substitutes and investing in Beyond Meat. Today, OmniFoods products are sold in 40,000 points of sale in more than 20 global markets.

    Yeung told the launch event that it is essential the world’s population reduces its consumption of seafood due to depleting resources resulting from overfishing. Global seafood consumption has exploded nine-fold in just 70 year.

    “Ninety percent of the big fish have been wiped out. We are not even talking about dropping supply, we are talking about extinction.”

    With 73 percent of the world’s fish consumption in Asia, OmniFoods is looking to target Asian markets with the new products and engaging chefs around the region to adapt traditional recipes with OmniFoods’ seafood substitutes.

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  • Chow Tai Fook profit rebounds as Mainland China focus pays off

    Chow Tai Fook profit rebounds as Mainland China focus pays off

    Hong Kong-listed Chow Tai Fook Jewellery Group Ltd reported a forecast-beating 108% jump in annual profit on Tuesday, thanks to one-off COVID-19 related rent concessions, an unrealised gain on gold loans and foreign exchange gains.

    China’s largest jeweller by market value said net profit surged to HK$6.03 billion ($777 million) from HK$2.9 billion in fiscal 2020. That compared to a forecast of HK$5.23 billion profit by 14 analysts, Refinitiv SmartEstimate data showed.

    It was the highest annual profit since 2014.

    A COVID-19 related rent concession amounted to HK$127.6 million as compared to HK$16.2 million in fiscal 2020, while net foreign exchange gain amounted to HK$336.4 million against HK$234 million loss in a year ago period.

    Revenue for the year to March 31 rose 23.6% to HK$70.16 billion from HK$56.75 billion a year earlier, driven by retail expansion amid improving consumer sentiment in mainland China and a softer gold price in the second half of the fiscal year.

    “As we are optimistic about the mid- to long-term growth in the mainland China market, we will focus on our mainland China’s business development in the coming future,” Chairman Henry Cheng said in a statement to the Hong Kong Stock Exchange.

    “We will continue our retail expansion strategy through penetrating into lower tier cities and leveraging franchisees’ local knowledge,” he added.

    The retail network expanded to 4,591 point-of-sales (POS) by the end of March, with a net addition of 741 POS. The company plans to add at least 700 POS in mainland China in fiscal 2022 but may close 10-15 POS in Hong Kong and Macau.

    Same-store sales surged 31.9% in mainland China but plunged 41.3% in Hong Kong and Macau as major border crossings remained closed during the period.

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  • Guardian Singapore cuts prices for 500 articles

    Guardian Singapore cuts prices for 500 articles

    The Guardian pharmacy chain said that it is reducing prices on more than 500 health and beauty products for the rest of the year, given that customers are “more value-conscious in the face of increasing financial challenges” of the Covid-19 pandemic.

    Guardian said that the initiative, involving reductions of up to 25 percent, would cost the company S$6 million.

    In a press statement on Thursday (June 3), it said that it is embarking on these longer-term price reductions because it wants to help customers save more and make a meaningful impact by making health and beauty essential accessible to everyone.

    The price reductions apply from Thursday.

    The items that will see their prices reduced include:

    1. All products under the Guardian brand
    2. Listerine mouthwash
    3. Dove body wash
    4. Darlie toothpaste
    5. Pantene shampoo

    The selection of products follows Guardian’s research, which looked at what products customers buy the most, and it showed that they prioritized affordability. Giant invests S$4 million more to extend discounts on products till end-2021

    Mr. James McCoy, director of commercial and operations at Guardian Singapore, said: “We want to support our customers in managing their health and well-being in an affordable way, especially during this time. We are ensuring that our customers can get their daily essentials at low prices that are locked for the rest of the year”.

    This initiative by Guardian came after a similar move by supermarket chain Giant. Both chains are part of conglomerate Dairy Farm International Holdings.

    The supermarket chain announced in March that it would extend its discounts on hundreds of products until the end of the year, which will set it back by an extra S$4 million, and add more than 100 discounted products.

    The move was to help ease the financial hardship faced by customers during the pandemic.

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  • Michelin To Hike Tyre Prices In India, Africa And Middle East

    Michelin To Hike Tyre Prices In India, Africa And Middle East

    Michelin today announced that it will be hiking tire prices in India, Africa & the Middle East region. The increase in price is effective from June 18 in India and July 1 for the Middle East region and is applicable to all Michelin Group brands. This is the second price hike this year by Michelin as the first one was made very recently in March 2021, where tire prices were hiked by 8 percent.

    In a statement by the company, it said, that it will increase its tyre prices by up to 6 per cent on passenger car, light truck and motorcycle tyres as well as up to 8 per cent on both on- and off-road commercial tyre. The hike in price has been attributed to the increase of raw material cost, global transportation cost and prevailing market dynamics

    Price changes may vary across specific products within each brand portfolio.

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  • Apple In Talks With CATL And BYD For Batteries

    Apple In Talks With CATL And BYD For Batteries

    The Apple Car project or as it is called internally at Cupertino – Project Titan has been in the works for now 7 years. But in the last year, work on it has progressed and Apple has been actively courting potential suppliers, but this process has been a struggle. Now a fresh report comes via Reuters, which claims that the Cupertino-based giant is courting Chinese battery maker CATL which has become the world’s largest supplier of EV batteries. In addition to this, Apple is also engaging BYD which is the fourth largest manufacturer of batteries. The Cupertino-based company is said to be in the early stage of discussions with the Chinese majors.

    Reportedly, Apple has moved so far ahead that it has started making battery factories but it needs suppliers to run them -this is similar to how Tesla has Panasonic running a big chunk of the Nevada Gigafactory. Apple is working on lithium-ion phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt. It has also been working on self-driving technology and has targeted 2024 as the production year for the Apple Car.

    Apple has been developing its own battery technology but it is not known if these discussions involve CATL or BYD using Apple’s battery designs. Likely, this will be the case as that’s how Apple has historically operated and this is becoming a common practice in the EV space with Tesla also adopting such tactics with its custom battery chemistry.

    President Joe Biden has proposed a $174 billion budget for attracting EV manufacturers in the US. Apple wants to cash in on this. Many battery makers are also ramping up production in the US thanks to the incentives being offered by the newly minted Biden government, reversing the anti-environment trend of the Trump government.

    China’s rise as the world’s biggest EV market has also given a boost to its local suppliers which have elevated players like CATL and BYD. Apple previously was also in talks with LG Chem, so there is a possibility that it will use a combination of Chinese manufacturers and South Korean manufactures. In China, the government has given subsidies to companies like CATL which makes it an ideal partner especially if a facility is to be set up in China.

    Apple has been in talks with Foxconn and even traditional companies like Magna for manufacturing the car. It could also use BYD as a manufacturing partner for the Apple Car. Apple will likely need a mix of different players to make the Apple Car project come to life.

  • Facebook takes another shot at Apple

    Facebook takes another shot at Apple

    Facebook continues to take aim at Apple for the latter’s introduction of the App Tracking Transparency (ATT) feature in iOS 14.5. With the majority of iPhone users in the U.S. (94%) and globally (84%) opting out of being tracked, Facebook says that damage is being done to small businesses who depended on the tracking to promote their wares to consumers.

    Since Facebook generated approximately $84 billion of its revenue last year from ads, it naturally was against Apple’s ATT feature. CEO and co-founder Mark Zuckerberg was so upset about it that he wrote two full-page newspaper ads blasting Apple. However, it turns out that some companies are doing the same amount of data tracking as they were before ATT launched.

    As we told you yesterday, marketing strategy consultant Eric Seufert says that third-party apps are still able to collect data from 95% of its iOS users by using IP addresses obtained from their phones and the networks they employ. A technique called “fingerprinting,” banned by Apple, is employed. Zuckerberg yesterday took a shot at the 30% cut of in-app payments that Apple collects in the App Store by forcing developers to use its in-app payment platform for such transactions.

    The beleaguered executive said in a Facebook post-Monday, “To help more creators make a living on our platforms, we’re going to keep paid online events, fan subscriptions, badges, and our upcoming independent news products free for creators until 2023. And when we do introduce a revenue share, it will be less than the 30% that Apple and others take.” Zuckerberg added that “We’re also launching a new payout interface so creators can see how different companies’ fees and taxes are impacting their earnings,” another shot at Apple.

    But Apple was able to get some revenge by announcing new features yesterday for iOS 15 that will interfere with Facebook’s own app assets. Take the Messages app for iOS which is receiving new features that will allow users to share photos, tunes from Apple Music, articles from Apple News, weblinks and more. These are things that Instagram, Facebook, and WhatsApp users would be more apt to share (all three of those apps are owned by Facebook).

    Zuckerberg has called Apple a major competitor because of apps like FaceTime and Messages which come pre-installed on the 1 million+ active Apple devices in use today. And with that in mind, Apple previewed some new features for FaceTime that will start working with the release of iOS 15 this coming fall. For example, Android and Windows users will be able to tap into FaceTime videos for the first time.

    SharePlay will allow a user to host a FaceTime call while sharing with his buddies a streaming video, streaming audio and more. Apple is trying to take the features that you otherwise might find on Instagram, WhatsApp and Facebook and place them on iOS 15 with additional privacy features.

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  • Apple supplier Pegatron to expand Vietnam operations

    Apple supplier Pegatron to expand Vietnam operations

    Pegatron Corp, an assembler for Apple, Microsoft and Sony, plans to increase its investment in Vietnam for electronics production by $101 million.

    Taiwan’s Ministry of Economic Affairs, which has to approve overseas investments by local companies, as saying Pegatron’s investment in Vietnam would be for the production of computers and peripherals, communications equipment and electronic components.

    The company has not disclosed details of the investment.

    It invested $19 million to build its first plant at the Dinh Vu Industrial Zone in Hai Phong City in March last year to produce computers, communications equipment and consumer electronic products.

    It plans to build its second and third plants at a cost of $481 million and $500 million and also move its research and development center from China to Vietnam.

  • HSBC Singapore Strengthens Board

    HSBC Singapore Strengthens Board

    HSBC Singapore has named a new executive director to its board, while Winston Ngan, who retired as a partner of EY Singapore, joins as an independent non-executive director.

    Wong Kee Joo, who was appointed as Singapore CEO on 1 June 2021, brings more than 26 years of banking experience across markets like the U.K., Thailand, Hong Kong and China. He was previously HSBC’s regional head of global payments and cash management (GLCM) for the Asia Pacific region since January 2015.

    Ngan brings 26 years of professional services experience, including stints with Ernst & Young (EY) in Singapore and Canada. Before retiring, he led EY’s Financial Services Assurance practice, overseeing 1,300 audit professionals across Asean, including Singapore.

    HSBC reiterated its commitment to Singapore as a strategic priority market and said it aims to double the total wealth balances of its Wealth and Personal Banking business in the next five years.

    Among the bank’s priorities are growing frontline wealth teams to support high net worth (HNW) and ultra-high net worth (UHNW) customer segments; accelerating growth in offshore customer segments, in particular overseas Chinese and Indians, and UHNW market share; and ramping up digital banking capabilities and expanding its product and solution suite, including adding more ESG-themed investments.

    As we head into our next phase of growth, Kee Joo’s extensive regional experience in wholesale banking will further strengthen our ability to tap HSBC corporate clients’ personal banking and wealth needs for growth, while Winston’s deep knowledge of Singapore’s banking regulatory requirements will ensure that we have a robust audit framework and the necessary internal controls in place, Mukhtar Hussain, HSBC Singapore chairman, said in the announcement.

  • Huawei Eyes Digital Finance Expansion

    Huawei Eyes Digital Finance Expansion

    Huawei is eyeing opportunities in digital finance to diversify its revenue mix amid ongoing U.S. sanction pressure against its smartphone and telecom equipment business.

    Huawei is the latest major Chinese player to make an entry into the global digital finance market, eyeing growth opportunities from Southeast Asia, the Middle East, Latin America, and Africa where financial inclusiveness is underdeveloped.

    Intelligent finance itself has a market valued at several hundreds of billions of dollars, but the potential is bigger because there will be cross-sector opportunities,» said Huawei’s global financial services business unit president Jason Cao in a report.

    Digitalized financial services have already penetrated into various commercial fields, and a cross-industry, full-scenario eco-system can be built by us to serve the clients.

    Huawei will look to leverage various capabilities, including facial recognition and big data technology, to develop innovative solutions.

    It recently formed an alliance with 25 partners including software developers, fintech companies, and risk managers to create an ecosystem of digital financial solutions.

    You do not just offer what financial firms demand in the new era, Cao said. The key to staying ahead is developing innovative scenario-based solutions.

    Huawei will look to be less reliant on its smartphone and telecom equipment business amid ongoing pressure from U.S. sanctions such as export controls to cut access to high-end chip suppliers.

    In addition, Meng Wanzhou, Huawei’s chief financial officer and daughter of founder Ren Zheng Fei, is currently in a legal battle to fight extradition to the U.S. over accusations that she deceived HSBC to bypass sanctions against Iran.

    Meng’s lawyers are scheduled this month to convince a Canada-based judge to allow them to rely on newly discovered evidence that supposedly proves that HSBC was aware of the sanctions risks. The evidence is believed to be sourced from documents in a recent agreement between Meng, Huawei and HSBC which resulted from a court ruling in Hong Kong.

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  • South Korean retail firms Lotte and Shinsegae bid for EBay Korea

    South Korean retail firms Lotte and Shinsegae bid for EBay Korea

    South Korean retailers Lotte Shopping and Shinsegae Group entered separate binding bids for eBay’s South Korean business, the retailers’ spokesmen said on Monday.

    eBay Korea – South Korea’s third-largest e-commerce firm with a 12.8% market share in 2020, according to Euromonitor – is on sale for what eBay hopes could be up to 5 trillion won ($4.5 billion), analysts said.

    The retailers’ spokesmen declined to comment on the terms of their bids. An eBay Korea spokeswoman also declined to comment.

    Local retail giants Lotte and Shinsegae have struggled to catch up to leading competitors like South Korea’s No. 1 e-commerce firm Coupang in the fast-growing online shopping sector, especially after the onset of COVID-19.

    South Korea’s online shopping transactions were worth 161 trillion won in 2020, accounting for a record 27.2% of total retail transactions, up from 21.4% in 2019.

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