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Tag: asia

  • Apple closes 30 more U.S. Apple Stores including all locations in Florida

    Apple closes 30 more U.S. Apple Stores including all locations in Florida

    As the number of coronavirus cases reported daily in several states starts to shoot back up, Apple is beginning to close more of its physical Apple Stores. Just a week ago, we told you that Apple was temporarily turning the lights off in 14 additional locations in Florida. We posted that article on June 25th and two days later the state hit a peak of 9,585 new cases announced.

    Other states are hitting the pause button on reopening plans and today Apple said that 30 more brick and mortar stores in the U.S. will be closed. 77 Apple Stores have reclosed over the last few weeks. With the remaining two Florida-based Apple Stores turning the lights off and locking the doors today, all physical Apple Stores in the Sunshine State have now been shuttered.

    Besides the stores in Florida, locations near Los Angeles have also been closed. On Wednesday, the company said that Apple Stores in Florida, Mississippi, Texas, and Utah were closed immediately. Stores in other states such as Alabama, California, Georgia, Idaho, Louisiana, Nevada, and Oklahoma will close on Thursday. By tomorrow, 77 or 28% of the 271 U.S. Apple Stores in the country will not be open. An Apple spokesman says, “Due to current COVID-19 conditions in some of the communities we serve, we are temporarily closing stores in these areas. We take this step with an abundance of caution as we closely monitor the situation and we look forward to having our teams and customers back as soon as possible.”

    Apple is taking precautions even in stores that remain open. At some stores, all business is being conducted curbside while at other locations customers need to make an appointment to go inside. At the latter stores, when customers arrive for their appointment. they will have their temperature checked and will be forced to wear a mask; social distancing is practiced as each customer must be separated by at least six feet.

    The Apple Stores that closed today include St. Johns Town Center, University Town Center in Florida; Renaissance at Colony Park in Mississippi; Barton Creek, Domain Northside, La Cantera, North Star, Knox Street, Northpark Center, Galleria Dallas, Ciello Vista Mall, Southlake Town Square, University Park Village in Texas.

    The Apple Stores that will close Thursday include The Summit in Alabama; Glendale Galleria, Northridge, Pasadena, The Grove, Third St. Promenade, Century City, Manhattan Village, Beverly Center, Sherman Oaks, Topanga, Los Cerritos, The Americana at Brand, Valencia Town Center, Victoria Gardens, The Oaks, The Summit in California; Cumberland Mall, Perimeter, Lenox Square, Avalon, Mall of Georgia in Georgia; Boise Towne Square in Idaho; Baton Rouge, Lakeside Shopping Center in Louisiana; Fashion Show, The Forum Shops, Town Square, Summerlin in Nevada; Penn Square, Woodland Hills in Oklahoma.

    So what can a consumer expect when visiting an Apple Store in the U.S. that has been reopened and remains so? Apple explains that “Before you enter an Apple Store, we will take your temperature using a thermometer that does not touch the skin to ensure that it measures below 37.5° C (99.5° F). No data from this procedure will be recorded. Prior to your store visit, please ask yourself the following health-related questions: Do I currently have a fever, chills, muscle or body aches? Do I currently have a cough or am I experiencing any respiratory issues? Do I have a headache, sore throat, runny nose, or congestion? Am I experiencing any nausea, vomiting, or diarrhea? Have I been in contact with any suspected or confirmed cases of COVID-19 in the last 14 days? If you answered YES to any of these please visit at a later date. You can get all the same great products and services from our online store with free no-contact delivery, and one-on-one shopping help from a Specialist via Chat, or by calling 1‑800‑MY‑APPLE. Shop Apple Store online.”

    Overseas where the coronavirus isn’t making a comeback, Apple is able to keep its stores open in most countries.

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  • Gold climbs to four-month high

    Gold climbs to four-month high

    Gold prices hit a four-month high of VND49.5 million ($2,137) per tael Wednesday as global prices surged due to a resurgence in coronavirus cases.

    Vietnam’s largest jewelry company DOJI sold its SJC gold at VND49.5 million per tael on Monday morning, up 0.4 percent from Monday. A tael equals 1.3 ounces.

    Saigon Jewelry Company Ltd also sold at VND49.5 million per tael, up 0.3 percent. SJC gold had reached an eight-year high of VND49.7 million ($2,146) in February.

    Global prices rose by 1.7 percent to $1,804 per ounce on Tuesday, the highest rate since November 2011. Analysts said the rising number of Covid-19 cases globally means investors are turning to gold as a safe haven.

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  • Sharp to launch new solar power plant in central Vietnam

    Sharp to launch new solar power plant in central Vietnam

    Japanese electronics giant Sharp Corporation will begin operating a 45 MW solar power plant in the central province of Ninh Thuan in July. The plant is a joint venture between Sharp Energy Solutions Corp., a subsidiary of Sharp Corporation, Vietnam’s T&T Group JSC, and its affiliate Ninh Thuan Energy Industry JSC.

    The new solar plant is expected to generate 76,373 MWh of electricity per year, enough to meet the average annual demand of 40,500 Vietnamese households. It can offset the equivalent of 25,458 tons of carbon dioxide (CO2) emissions a year, Sharp said in a recent statement.

    Japanese news agency Kyodo News quoted a spokesman of the giant as saying that Sharp has been pushing its solar power business in Asia, having built plants in Thailand, Indonesia, and Mongolia, on the back of expected growth in consumption of electricity.

    Solar power currently accounts for 0.01 percent of Vietnam’s total power output, but the government plans to increase the ratio to 3.3 percent by 2030 and 20 percent by 2050.

    Vietnam currently relies largely on hydropower and thermal power for its electricity needs, but its hydropower potential is almost fully exploited and oil and gas reserves are running low.

    Under its energy development plan, Vietnam aims to have renewables, mainly solar and wind, account for 10.7 percent of total energy production by 2030.

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  • VF Corporation to boost Greater China management ranks

    VF Corporation to boost Greater China management ranks

    Apparel, footwear and accessories firm VF Corporation is making a series of organizational changes it says will “strengthen and accelerate” its business strategy in Asia Pacific, with a particular focus on China.

    The company, which owns a portfolio of outdoor and activity-based lifestyle and workwear brands, including Vans, The North Face, Timberland, and Dickies, expects China to account for 80 percent of its global sales by 2024, up from 65 percent now.

    VF is establishing a new position of president, Greater China, expecting to make the appointment later this summer. The person will be responsible for operations in Mainland China, Hong Kong, and Taiwan.

    “When we introduced our new global business strategy in 2017, we declared our commitment to invest in our Apac region and accelerate growth for our brands, all with a particular emphasis on China,” said VF Corporation chairman, president and CEO Steve Rendle.

    “By creating the new position of president, Greater China, we’re leaning even further into the many opportunities we see to elevate our business and brands in this fast-moving, digitally-driven marketplace. We look forward to announcing our appointment later this summer.”

    VF Corporation’s current group president Asia Pacific Kevin Bailey (right) will continue in his role but relocate to Colorado, where he will add the firm’s Emerging Brands portfolio to his responsibilities.

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  • Maxim set to open 15 Shake Shacks in Southern China

    Maxim set to open 15 Shake Shacks in Southern China

    American fast-casual restaurant chain Shake Shack is planning to open at least 15 new venues in South China by 2030.

    The chain, working through local licensee Maxim’s Caterers, a company controlled by Hong Kong’s Dairy Farm Group, will open restaurants in cities including Shenzhen, Guangzhou, Fuzhou, and Xiamen, with a goal of 55 Shake Shacks nationwide by 2030.

    Maxim’s currently operates Shake Shacks in Shanghai and Hong Kong, with Beijing and Macau under development and due to open later this year.

    “We remain humbled by our fans in China and continue to be encouraged by the performance of our Chinese business through this recovery,” said Shake Shack chief global licensing officer Michael Kark.

    “It’s a great time to deepen our roots in this market.”

    “Maxim’s partnership with Shake Shack has taken the brand on an exciting journey to Hong Kong in 2018 and Shanghai in 2019, with Beijing and Macau on the horizon,” said Maxim’s Caterers chairman and MD Michael Wu.

    “We look forward to bringing our boundless hospitality to more guests across South China in 2021 with our new expansion plans.”

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  • Sephora Asia appoints Alia Gogi as its new president

    Sephora Asia appoints Alia Gogi as its new president

    Alia Gogi has been appointed as the new president of Sephora Asia, succeeding Benjamin Vuchot who will move to a new, yet-to-be-announced role with parent company LVMH.

    “Alia joined Sephora China as chief merchant nine years ago and has been key to transforming our SEA business,” said Chris de Lapuente, CEO of Sephora.

    “She brings to Sephora Asia a wealth of experience acquired from working at Sephora China and Sephora SEA, proven leadership skills, a true passion and intuition for prestige beauty products, as well as a tremendous hunger for driving the business above and beyond.”

    Alia Gogi joined Sephora China as a chief merchant in 2011 and has served as MD Southeast Asia since 2018. Sarah Boyd, currently Southeast Asia VP of markets, will take over Alia Gogi’s former role to oversee Sephora Southeast Asia.

    Under Benjamin Vuchot’s leadership, Sephora’s business has almost doubled in the region within three years, according to the company.

    “He leaves Sephora with the strongest Sephora Asia organization we ever had,” said de Lapuente.

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  • Centara donates 10,000 room nights to medical heroes

    Centara donates 10,000 room nights to medical heroes

    Centara Hotels & Resorts, Thailand’s leading hotel operator, continues its support of the country’s medical workers with the launch of its “10,000 Thanks” campaign dedicated to the heroes working tirelessly for the wellbeing of the people. 

    As a token of heartfelt gratitude for the healthcare heroes in the ongoing fight against COVID-19, Centara is donating 10,000 room nights for doctors and nurses to enjoy a complimentary one-night stay for two guests at any Centara Hotels & Resorts property in Thailand or overseas. 

    In recognition of their continuing hard work and the challenging circumstances in which doctors and nurses have been working, Centara is offering frontline medical staff across the country a chance to take a much-deserved break, completely free of charge, to recharge and reconnect with their loved ones.

    “10,000 Thanks” can be redeemed across the group’s five existing brands – Centara Grand, Centara, Centara Boutique Collection, Centra by Centara, and COSI – in destinations across Thailand and overseas, including a number of resort destinations such as Pattaya, Hua Hin, Phuket, Krabi and Samui as well as urban destinations such as Bangkok, Chiang Mai, Udon Thani and Hat Yai.

    The free night offer is reserved for medical front line professionals who are doctors and nurses with Thai nationality or currently residing in Thailand only.

    Coinciding with Thailand’s lifting of all restrictions in July following months of phased re-opening, the “10,000 Thanks” offer can be booked between 1stJuly – 30th December 2020 for stays within the same period. 

    Centara is also extending appreciation to all other workers across the medical industry with an offer of 25% off every rate across the group’s entire portfolio spanning 18 destinations. “25 for heroes” bookings can be made on www.centarahotelsresorts.com between 1st July – 30th  December 2020with no restrictions on travel period. 

    The “10,000 Thanks” and “25 for heroes” medical personnel campaigns are the latest in a series of initiatives launched by Centara Hotels & Resorts to help communities and individuals affected by the COVID-19 pandemic. 

    Since April 2020, the group has partnered with charities and government organisations to provide 1,500 food boxes to support at-risk communities, and offered hotel rooms in Centara Grand at CentralWorld and Centara Muscat Hotel Oman to host healthcare staff and people in need. Centara’s Help the Heroes’ campaign also aims to support those in need with donations going to the Chaipattana Covid-19 Aid Fund (and other pandemics) and Thai Red Cross Society.

    “Thailand has not seen community transmission of COVID-19 for over a month now, and there’s no question of the importance the role our country’s healthcare heroes play in keeping us healthy and safe. As restrictions in the country start to ease, we invite doctors and nurses to enjoy a much-needed holiday on us, as a humble token of our immeasurable appreciation of their selfless efforts,” said Thirayuth Chirathivat, CEO of Centara Hotels & Resorts.

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  • Alibaba Cloud and Unilever to Usher in Next-Generation Digital Marketing Initiatives

    Alibaba Cloud and Unilever to Usher in Next-Generation Digital Marketing Initiatives

    Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group – is partnering with Unilever, one of the biggest multinational consumer goods companies, in a pioneering strategic initiative that will enable Unilever to action on next-generation digital marketing campaigns.

    In the partnership, Unilever will be able to utilize Alibaba Cloud’s trusted artificial intelligence (AI) and cloud-based technologies to optimize its omni-channel, online and offline demand generation activities. With intelligent analysis, Alibaba Cloud’s solutions can help to unlock detailed insights into Unilever’s customers buying patterns and behaviors. The data-driven business intelligence could help Unilever accelerate the creation of new and precisely targeted digital marketing campaigns. It could also enable Unilever to predict more precisely and quickly respond to changing customer buying habits across multiple platforms.

    Taking Unilever’s digital marketing to the next level, Alibaba Cloud’s solution can support optimized brand experience for consumers’ purchasing journey through Unilever’s online stores in Taobao and Tmall. The data intelligence provided by Alibaba Cloud can be easily translated into consumer insight, pivotal in enabling Unilever to expand its current and future product offerings in line with customer needs.

    The insights into anticipated and current customer demand, will also benefit Unilever’s supply chain, as well as optimize its route to market. A range of technologies from Alibaba Cloud underpin the data intelligence analysis, which include machine learning and AI to spot customer and market patterns:

    Dataphin, a unified PaaS platform for intelligent information processing and management; Analytic DB, Online Analytical Processing (OLAP) managed database cloud service that can process enormous amounts of information in realtime; and Quick BI, an intelligent business analysis suite that generate business insights for enterprise users. With the strategic partnership, Alibaba Cloud will empower Unilever to leverage these technologies in the future.

    Fang Jun, VP Data and Digital, Unilever China: “Customer buying patterns are ever changing; when and where they buy has caused marketing to become even more agile and precise in order to stay relevant and reduce marketing waste. The use of Alibaba Cloud’s cutting-edge technology will ensure that our customers enjoy even more value from their relationship with the Unilever brand, through relevant campaigns and activities based on true insights into their buying preference.”

    “In the online, always connected world, getting customers’ attention is an ongoing challenge for marketers, so understanding what their customers want has never been more important. For marketers to keep on top of customers’ ever-changing needs and habits, the ability to understand their shopping habits is essential for keeping the brand messaging relevant for each customer,” said Selina Yuan, president of international business, Alibaba Cloud Intelligence. “Alibaba Cloud’s solutions have the ability to unlock the customer insights needed, and are set to ensure Unilever continues to succeed and build brand loyalty with its customers amid a constantly evolving and complex market place.”

    The Unilever and Alibaba Cloud collaboration was announced at the Alibaba Cloud Global Summit, in which “China Gateway 2.0” was also launched. The program, that Unilever is part of, hopes to help Alibaba Cloud’s partners and customers to accelerate their growth in China by capitalizing Alibaba Cloud’s local business expertise, technologies and matured ecosystem.

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  • NYX shutting down all of its Malaysian stores

    NYX shutting down all of its Malaysian stores

    NYX Cosmetics is to close its retail operations in Malaysia after three years in the market. According to a report by Marketing-Interactive, the US cosmetics firm – a L’Oreal subsidiary – has permanently closed outlets in Suria KLCC, Sunway Pyramid, and Midvalley Megamall as of last month, three years after opening its flagship store at IOI City Mall Putrajaya. That outlet, as well as those in Fahrenheit 88 and Genting, will be shuttered by the end of this month.

    The NYX flagship featured interactive beauty bars and a digital community wall. It also displayed digital images and social media content throughout the store.

    “We sincerely thank you for all the love, energy, passion, and enthusiasm from our fierce beauty junkies community,” read the brand’s Facebook post announcing the departure from the Malaysian market. “There were many incredible moments with lots of glitters, color, and amazing makeup artistry.”

    The store will continue its e-commerce operations in the territory through to the end of September.

    However, the brand will not exit the market completely. It is understood it will still be available in Sephora stores and potentially other multi-brand channels.

  • Government to sell its shares in Vietnam’s largest brewer

    Government to sell its shares in Vietnam’s largest brewer

    The government plans to sell its 36 percent stake in the country’s largest brewer, Sabeco, this year. The Saigon Beer Alcohol Beverage Corp (Sabeco) is one of 139 enterprises in a new list in which the government’s stakes will be sold by sovereign fund State Capital Investment Corporation.

    The Ministry of Industry and Trade (MoIT) has been instructed to transfer the government’s stakes in these enterprises to the SCIC by August 31. The government had sold a 53.59 percent stake in Sabeco to ThaiBev for over $5 billion in 2017.

    The news puts paid to speculative claims made by some media outlets in early June that MoIT was seeking to reacquire Sabeco shares from ThaiBev due to “unexpected pandemic effects.”

    At the end of 2019 the maker of Saigon Beer had assets estimated at VND 26.96 trillion ($1.2 billion) and owner’s equity of VND20.07 trillion ($870 million).Sabeco recently scaled down its revenue target for this year by 37 percent to VND23.8 trillion ($1 billion) and post-tax profit target by 39 percent to VND3.2 trillion ($138 million), the lowest in six years.

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  • Axa IM Adds Japan Assets to Portfolio

    Axa IM Adds Japan Assets to Portfolio

    The acquisition forms part of the firm’s wider long term strategy on behalf of clients to invest in residential asset classes it believes are supported by strong demographic drivers.

    Axa Investment Managers (IM) – Real Assets has added to its €20 billion portfolios of residential assets under management spread across 15 countries, with the purchase of a multi-generational and multi-sector residential tower in Nagoya, Japan for ¥20 billion ($186 million).

    The newly built Grade A residential tower is located within walking distance of Nagoya’s central business district in a newly redeveloped area. It comprises 430 residential units and 130 co-living units, as well as 66 units comprising a mix of pure residential for the elderly together with care or nursing service options.

    Laurent Jacquemin, head of Asia-Pacific at Axa IM – Real Assets, said the deal «proved particularly attractive given the city’s continued investment in improving local infrastructure coupled with its growing population, both of which underpin the potential for us to generate stable income.»

    The acquisition is the firm’s fourth residential investment in Nagoya and its 12th in Japan, where it has invested more than ¥16 billion in residential assets on behalf of clients. Its previous deal was also for a residential tower in Nagoya, completed in November.

    Axa IM said the Nagoya residential market lacks affordable residential stock for rent that’s suitable for families, while demand is likely to continue to rise in line with robust economic growth and infrastructure investment.

     

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  • Gobear Taps Cloud Banking Platform

    Gobear Taps Cloud Banking Platform

    The financial services start-up with big regional ambitions is collaborating with both Mambu as it accelerates its lending business across Asia.

    Cloud banking service provider Mambu’s lending architecture will form the core system of Gobear as it expands to the Philippines in 2020, with additional markets to follow, it announced in a statement on Monday.

    Mambu’s partnership with Gobear was established after a recommendation from long-term Mambu partner CredoLab, which provides Gobear with alternative credit scores based on smartphone metadata, the announcement said.

    Having access to responsible credit should be a financial right for all. Tapping into fintech solutions like Mambu’s and CredoLab’s brings us one step closer to making this a reality for the region’s 296 million unbanked or underbanked, Mike Singh, GoBear’s chief lending officer, said.

    Founded in 2015, Gobear operates a platform for insurance, banking and lending products. It operates in seven markets in Southeast Asia and has registered more than 55 million site visitors.

    In May, Gobear acquired Singapore-based AsiaKredit, which provides financial products to the underserved in the Philippines with a mobile app that boasts over 1 million loan applications

    Earlier this month, Gobear added $17 million from long-term investors Walvis Participaties and Aegon, bringing its total funding to $97 million.

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  • SGX to Offer Taiwan Index Futures

    SGX to Offer Taiwan Index Futures

    The bourse said this will help global investors to gain exposure to a broad representation of large and mid-cap Taiwan stocks, while meeting fund managers’ diversification objectives.

    Singapore Exchange (SGX) will launch a futures contract based on the FTSE Taiwan RIC Capped Index (FTSE Taiwan) on July 20, it announced on Wednesday.

    The index is broad-based and diversified, and covers nearly 80 percent of Taiwan’s listed companies by market capitalization, providing strong correlation with other major Taiwan benchmark indices, SGX said.

    Michael Syn, Head of Equities at SGX, said that the future contract aims to cater to the rising demand from U.S. and European investors for access and investment exposure to Taiwan.

    Taiwan is the seventh-largest economy in Asia and occupies a key position in the global industrial and technology value chain.

    SGX expects to receive certification from the Commodity Futures Trading Commission to offer the contract in the U.S. shortly after launch.

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  • Wirecard Assessing Singapore Services

    Wirecard Assessing Singapore Services

    The firm is at the center of one of the region’s biggest corporate accounting scandals in recent years, having admitted that €1.9 billion is missing from its financial accounts. Wirecard has informed the Monetary Authority of Singapore (MAS) that it is assessing if it can continue providing its services in Singapore, which include credit card payments and usage of its pre-paid cards, following its parent company’s insolvency filing in Germany.

    MAS is closely monitoring the operations of Wirecard, the regulator said in a statement on Tuesday, noting that the company has complied with directions to hold customers’ funds in segregated accounts with banks here.

    DBS is seeking details from Wirecard if it can continue to use its services, and will transition to other service providers if necessary, while UOB and OCBC merchant partners use payment gateways by Mastercard and Visa and not Wirecard.

    The German payments processor, once seen as a rising star in the fintech world, has come under intense scrutiny over its alleged improper accounting conduct, which came to a head on June 18, when it was supposed to report its full-year-2019 and first-quarter-2020 results after three delays.

    However, auditor EY said it could not find sufficient audit evidence of the missing €1.9 billion in the firm’s balance sheet.

    This led to the resignation of CEO and largest shareholder Markus Braun on June 19, and his arrest several days later by German authorities on suspicion of market manipulation and false data.

    The Singapore Police Force’s (SPF) Commercial Affairs Department (CAD), which deals with white-collar crimes, started criminal investigations into Wirecard’s operations in the country in February 2019.

    MAS said on Monday that it was working with the Accounting and Corporate Regulatory Authority (ACRA) and CAD to scrutinize other possible aspects of the case.

  • MSC Mediterranean Shipping has upgraded myMSC with a new online Instant Quote function

    MSC Mediterranean Shipping has upgraded myMSC with a new online Instant Quote function

    MSC Mediterranean Shipping Company has upgraded its e-business platform myMSC with the addition of a new online Instant Quote function. Customers wishing to use this tool will be able to quickly and easily get shipping rates for container bookings.

    Currently, the majority of MSC’s bookings are carried out offline, and it can take some time to complete a booking. Using Instant Quote, customers can generate an online quote in seconds, with just a few simple clicks, 24/7 online.

    They then have the option to instantly complete the booking with the generated quote on myMSC. Alternatively, they can save the quote or forward it to multiple contacts for booking at a later stage. The automated quote generation also reduces room for human error, further improving the efficiency of the process.

    The Instant Quote function is currently only available for shipping trade routes from North America to Europe and from Asia to Europe, with plans for the addition of more trades over the course of 2020.

    “The COVID-19 pandemic has accelerated the trend towards digitalization within the industry and the importance of engaging customers through multiple platforms, including through e-business. As such, this upgrade of myMSC is a clear illustration of our continuing efforts to invest in digital business transformation with the aim to improve efficiency and transparency, and to give our customers more options,” said Andre Simha, Chief Digital & Information Officer at MSC.

    The launch of Instant Quote is expected to significantly boost the number of MSC’s online bookings, and further unlock the value of myMSC as an e-business platform for customers.

    Using Instant Quote

    Customers will first need to login to myMSC at myMSC.com, or to sign up for an account if they do not have one yet. Upon login either through the desktop version or the myMSC iOS/Android app, customers can access the Instant Quote function.

    By selecting the starting and ending points of the shipment and the equipment size, customers can see the options for shipping rates. Details such as the shipping window, estimated transit time, routing and the charges included in the quotation will be clearly displayed.

    The tool can be used for bookings of standard-sized (20 and 40 feet) and High Cube (40 and 45 feet) dry containers. For locations where intermodal services are available, customers can opt for end-to-end rates from the origin to destination.

    MSC has ensured a seamless integration of the Instant Quote function into myMSC, and a smooth overall user experience for customers. This new function adds on to the list of e-business tools available in myMSC, such as ability to do e-bookings, retrieval of documents such as booking confirmations and arrival notices, oversight of bookings via a dashboard, creation and submission of Shipping Instructions, submission of Verified Gross Mass (VGM), tracking of shipments and receiving of notifications.

     

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