Retail News CRM

Tag: asia

  • Singapore Banks Refuse Entry to Customers Without Masks

    Singapore Banks Refuse Entry to Customers Without Masks

    As the number of unlinked Covid-19 cases in Singapore continues to climb, ABS is advising customers of the additional measures taken by the banks to reduce the risk of transmission.

    The Association of Banks in Singapore (ABS) on Tuesday announced that all customers who do not wear face masks when visiting bank branches will be refused entry, and has advised customers to wear a face mask when lining up to use ATMs.

    These measures were adopted in light of the elevated safe distancing measures announced by the Ministry of Health. Banks have also put in place crowd management systems at their branches to ensure safe distancing between customers and staff, and have increased the frequency of cleaning and disinfection of their branches, ABS noted in a circular.

    The use of face masks was previously discouraged by the Singapore government, but its position on the matter changed with evidence that an asymptomatic person can still pass on the virus to others. Addressing the public on 3 April, Singapore Prime Minister Lee Hsien Loong to «keep your droplets to yourself.»

    Banks across Singapore have closed up to half of their branches due to the reduced traffic as a result of enhanced social distancing measures. Non-essential businesses have been ordered to close, and all companies have been instructed to transition to working from home.

    At the same time, the Monetary Authority of Singapore (MAS) affirmed that financial services would remain open and available to all customers and counterparties in Singapore and globally.

  • Apple could use powerful 5nm A14X Bionic chipset for 5G iPad Pro in 2020-2021

    Apple could use powerful 5nm A14X Bionic chipset for 5G iPad Pro in 2020-2021

    When Apple introduced the new 2020 iPad Pro tablets last month, we were surprised to find that instead of an A13X Bionic chipset, both the 11-inch and 12.9-inch models were equipped with the A12Z Bionic SoC. Apple quickly stated that the new slates deliver the “highest performance ever in an iPad.” And that may be true, but a tweet disseminated the other day by TechInsights states that the GPU architecture used on the A12Z Bionic is the same as the one used on the A12X Bionic found inside the 2018 iPad Pro units.

    The A12X Bionic and A12Z Bionic are both built with the same 7nm process node by TSMC and have the same octa-core configuration (four high-performance CPU cores and four energy efficient-cores) and memory. The only difference is that seven of the eight GPU cores on the A12X Bionic were activated while all eight are activated on the A12Z Bionic. Both chips have a maximum CPU clock speed of 2.49GHz.

    >Perhaps we will see an A13 Bionic chipset on a new iPad mini that might surface later this year. TF International’s Ming-Chi-Kuo says that in 2020, Apple will unveil a 7.9-inch iPad mini tablet sporting a mini-LED display. The latter will be used as Apple slowly transitions to micro-LED screens; mini-LED screens are similar to AMOLED displays in that they offer a wide color gamut and do not require the use of a backlight. This means that like OLED panels, the color black is created by turning off pixels in the appropriate area. Dark Mode reverses the look of the UI from black text on a white background to white text on a black background; this prevents the blinding white background from hurting and irritating eyes in a dark room or at night. Those using Dark Mode will see a slight improvement in the battery life of their tablet since pixels turned off do not draw on the device’s battery.

    If Apple decides to introduce a new iPad mini this fall, it would probably be equipped with the same A13 Bionic that currently powers the iPhone 11 family. After all, Apple equipped last year’s iPad mini with the A12 Bionic.

    There is speculation that Apple decided not to create an A13X Bionic for the new iPad Pro units because outside of adding the LiDar depth sensor and the improved camera setup on the back, nothing on the updated units require additional heavy lifting by the processor. It also gives Apple the chance to design its first chipsets for the iPad that will be produced using TSMC’s 5nm process node (the A14X Bionic).

    The 2020 iPhone 12 series will be powered by the 5nm A14 Bionic. With an 84% increase in transistor density, the A14 Bionic could contain as many as 15 billion transistors each compared to the 8.5 billion shoehorned into the A13 Bionic and the 10 billion transistors found in the A12X Bionic. While this much power would seem to be overkill for a new iPad mini, it would be perfect for the next variant of the iPad Pro. And the latter could be coming later this year if Apple decides to ship a 5G version of its top-of-the-line tablet. The A14X Bionic could make its debut on 5G versions of the 11-inch  and 12.9-inch iPad Pro tablets.

    While tablet sales have been struggling for years, the iPad had a couple of good quarters during the second half of fiscal 2019. And thanks to the coronavirus outbreak, game-playing teens, those taking classes or working from home, and people who enjoy viewing streamed content are now in the market to buy their first tablet or to upgrade an older model.

    Lees ook:

    Lees ook:

    Lees ook:

  • True Religion back in bankruptcy as Covid-19 cripples sales

    True Religion back in bankruptcy as Covid-19 cripples sales

    Denim apparel retailer True Religion has filed for bankruptcy for the second time within three years.

    The brand’s latest crisis was brought on by the coronavirus outbreak, which has seen more than 95 percent of the American market under lockdown. In a statement, True Religion said it had found itself unable to wait out the pause in trading.

    The firm’s foremost lenders ABL and Term Loan are investing in the brand’s reorganization efforts under Chapter 11 bankruptcy proceedings, according to CEO Michael Buckley. The firm registered US$100 million in assets against $500 million in liabilities in its court filing this week.

    The firm emerged with a streamlined store network and a stronger financial position after its last bankruptcy, which had the support of lenders and came with an exit strategy pre-mapped out.

    “In the near term, and until our stores open up, we will be continuing as we have,” said Buckley, “to run our e-commerce businesses in the same way we did prior to filing for Chapter 11”.

  • Toyota Plans Limited Operations In France

    Toyota Plans Limited Operations In France

    Toyota Motor  on Monday said it plans to restart limited production at vehicle plants in France and Poland from April 22 after closing them due to the

    Automakers make a push to reopen plants. Global automakers reeling from the COVID-19 pandemic are accelerating efforts to restart factories from Wuhan to Maranello to Michigan, using safety protocols developed for China and U.S. ventilator production operations launched in recent weeks. Cia

    Most other plants in Europe, North America, Latin America, and Asia will remain closed for now, it said in a news release

    Lees ook:

    Lees ook:

  • Siam Commercial Bank Set to Launch Myanmar Unit

    Siam Commercial Bank Set to Launch Myanmar Unit

    Thailand’s third-largest lender has received preliminary approval to operate in the Southeast Asian nation of 54 million people.

    SCB will be allowed to open up to 10 branches in the business area with an initial focus on Thai clients with investments in the country, according to Reuters report citing chief executive Arthid Nanthawithaya, who said the bank already had over 100 existing business clients across consumer goods, energy and agricultural sectors.

    Nanthawithaya said the bank will aim to boost its loan assets to 7 billion baht ($210 million) by 2024. After 2021, SCB will also be able to enter the retail market in Myanmar, offering personal loans and wealth management services.

    Not unlike to its Thai banking rivals, SCB has been expanding to widen its regional network with a presence in six other markets including Laos, Shanghai and Singapore. The move to launch in Myanmar follows recent news of Bangkok Bank’s acquisition of a controlling stake in Indonesia’s PT Bank Permata for $2.7 billion in December last year.

  • Shopee Malaysia launching additional support package for Etailers

    Shopee Malaysia launching additional support package for Etailers

    Shopee Malaysia has announced an RM15 million (US$3.5 million) support package for sellers on its network.

    The online retail platform’s package aims to assist around 70,000 SMEs in the territory trading in a range of sectors and is an outcome of engagements between itself, retail associations, business owners and chambers of commerce.

    “These SMEs need assistance or a partner that can provide them a clear instruction set to ensure they succeed with online selling,” said Shopee’s regional MD Ian Ho, who expressed concern that smaller businesses lack knowledge critical to digitalization.

    Benefits in the package include discounts for sellers in promotional programs to help lower operating expenses for business owners.

    “Shopee has allocated RM6 million ($1.4 million) in the form of vouchers and free paid advertising credits,” said Ho. “Sellers stand to benefit from RM100,000 ($23,000) worth of dedicated campaign vouchers every week and receive up to RM400 ($92) each in free paid advertising credits to get more exposure for their products and stores.

    “Shopee wants to drive the digitalization of traditional businesses and bring them online,” he said.

    “The package will support all its sellers by creating sales and growth opportunities, reducing operational costs and facilitating sustainable development through funding, subsidies and education.”

  • YouTube Music gains new Explore tab in latest update

    YouTube Music gains new Explore tab in latest update

    YouTube Music is getting a new Explore tab on Android and iOS devices, Google announced earlier today. The new feature makes it easier for users to discover new music, including albums, singles, and videos, as well as browse through the service’s catalog of playlists via the Moods & Genre section.

    Those who’ve been using YouTube Music will notice that the new Explore tab replaces the Hotlist tab. Starting today, the new feature will be rolled out to Android and iOS devices, but the complete deployment may take several weeks.

    The Explore tab should be featured as the second tab in YouTube Music and, aside from enabling access to new releases, it will include a new section: Moods & Genres. The new section is meant to help YouTube Music users identify their favorite playlist or genre for different moments.

    Besides Android and iOS, YouTube Music plans to add the new Explore tab to the web player, although no ETA has been provided yet. Also, additional features and enhancements might be added as YouTube is looking for ways to make the new Explore tab the main source for music discovery in YouTube Music.

  • KFC Singapore launches contactless takeaway service

    KFC Singapore launches contactless takeaway service

    KFC Singapore has launched a contactless takeaway service, allowing customers to purchase safely during the circuit breaker period in the city.

    According to KFC, it is the first fast-food restaurant brand in Singapore to launch such a service. With “Contactless Takeaway”, customers can place orders via KFC Singapore’s app or its website and pick up the food at contactless pick-up tables in the chosen store.

    These contactless pick-up tables will be sanitised after each order is completed, the company said in the statement.

    “With the ‘Contactless Takeaway’ and ‘Contactless Delivery’ options, we are doing our very best to ensure that our famous fried chicken will be as accessible as always even during these trying times,” said Lynette Lee, GM at KFC Singapore.

    The ‘Contactless Takeaway’ service follows the ‘Contactless Delivery” option launched early last month.

  • What Filipinos are craving for online

    What Filipinos are craving for online

    Meta-search website iPrice Group has released data insights on the online behavior of Filipino consumers during the coronavirus lockdown.

    The firm’s e-commerce aggregator compared impressions of products on its platform between November last year (a month before the outbreak) and this March, when sudden strict restrictions on physical mobility that went into effect on March 12 left Filipinos searching for alternative ways of shopping.

    Impressions on kids’ outdoor pools increased by about 518 percent during the period, as thousands of Filipinos searched for alternative ways to keep their kids active and under the sun during the quarantine.

    While an increase in the consumption of medical face masks is expected and ubiquitous worldwide, the demand for skin care face masks in the territory grew by 236 percent, suggesting Filipinos may be pampering themselves more at home during the lockdown.

    As consumers in the Philippines seek ways to keep active and fit at home, interest in bicycles increased by about 97 percent, and searches for gym dumbbells also increased by 80 percent.

    With internet access critical at this time, searches for ways to make internet connections faster, reachable, and more stable went up as impressions on wifi adapters grew about 597 percent while LAN cables grew about 150 percent in the Philippines market.

    Restrictions on movement have affected in-person shopping, resulting in search hits for alternative ways to purchase essential home goods. Impressions on canned food grew

    by 412 percent, with the most-searched-for brands being Delimondo, Purefoods, 555, and Century Tuna. Impression on biscuits increased by 310 percent as well.

    Many Filipinos conducted searches for disinfecting multipurpose cleaner Domex, with impressions on this product surging by 1097 percent. Impressions on disinfectant spray Lysol grew by 721 percent, while products with bleach, such as Clorox, Ariel, and Tide, grew by 172 percent.

    Searches for Covid-19 essentials such as medical face masks grew from zero to 100 percent during the affected period, during which time the average price rose by nearly 86 percent. Impressions on thermometers grew by 1295 percent, while vitamin searches grew by about 123 percent. Search impressions for hand sanitizers increased by 2207 percent, while those on hand soaps increased by 989 percent.

    Impressions on Corona beer grew immensely by 2084 percent – however, this is likely caused by searches on the coronavirus instead of the beer brand itself.

  • Walmart China to invest US$425 million in Wuhan

    Walmart China to invest US$425 million in Wuhan

    Walmart China is to invest US$425 million over the next five years to expand its presence in Wuhan, the origin of the coronavirus pandemic.

    The US-headquartered retail giant will open at least four Sam’s Club membership stores as well as 15 new malls in the territory within the period. It will also set up additional community stores around the provincial capital, to add to its existing 34 outlets and two distribution centers within Wuhan.

    “The framework marks a new milestone between the two parties and a new beginning for a win-win situation,” said Walmart China CEO Wern-Yuen Tan of the firm’s collaboration with Wuhan’s municipal government.

    Wuhan’s 76-day lockdown period was brought to a close last Wednesday with an official final death toll of around 2500 cases caused by the virus – although international observers have cast doubt on that figure.

    According to data released by the American Chamber of Commerce in China, 40 percent of polled companies planned to maintain current levels of investment in China this year, as opposed to 24 percent who were planning cuts, with the remainder saying it is still too early to judge.

    Lees ook:

  • Tesla’s China Car Registrations Surge In March As Shanghai Factory Back Up

    Tesla’s China Car Registrations Surge In March As Shanghai Factory Back Up

    U.S. electric vehicle maker Tesla Inc’s China car registrations jumped 450% in March, month on month, data from auto consultancy LMC Automotive showed.

    Tesla’s China registrations rose to 12,709 units in March from 2,314 in February.

    Overall auto sales in China plunged 43.4% in March, as a coronavirus pandemic continued to depress demand, industry data showed.

    Tesla told employees on Tuesday the company will furlough all non-essential workers and implement salary cuts as part of a continued shutdown of the company’s U.S. production facilities.

    Tesla, which started delivering cars from its Shanghai factory last year, said last week it has started China sales of two more Model 3 variants built at its Shanghai plant.

    Lees ook:

    Lees ook:

    Lees ook:

  • Gold Is Set to Jump

    Gold Is Set to Jump

    The monetary policy measures taken by the world’s main central banks in response to the outbreak of the coronavirus has paved the way for higher gold prices. Nevertheless, the precious metals’ business as a whole has come under severe stress recently.

    The price of an ounce of gold has shot past the $1,700 mark for the first time since 2012 – extending its ascent in sync with equity markets. Less than a month ago, gold stood at $1,450 per ounce. The increase is almost 20 percent for this short period of time.

    Now, the path is open for a valuation of $1,800 or more,» said Alberto Tocchio at Colombo Wealth in an interview. Gold reached a record of $1,920 per ounce in the fall of 2011.

    Gold is riding on a wave following the extremely expansive monetary policy of the U.S. Federal Reserve (Fed). With the liquidity that the Fed is pumping into markets, equities have risen and some investors will have decided to hedge against another crash by adding gold to their portfolio. Gold is a typical safe haven in times of crisis.

    The surge of the gold price will keep the precious metals business busy for some time, analysts said. Two of the Swiss gold refineries have resumed their production on Monday, starting at 30 to 40 percent of capacity.

    The refineries are concentrating on gold bars because that’s where demand is highest. The two companies have orders for dozens of tons of gold for delivery by the end of May, according to experts.

    The orders were placed by private gold trading firms, commercial banks, and central banks. The surge in demand for gold meant that these companies can’t produce any silver, platinum or palladium before June. This will cause further stress to the business, said Andreas Habluetzel, CEO of Degussa Goldhandel, a gold trader.

    Numerous mints around the globe have been closed for business – one of which being the Rand Refinery in South Africa. It makes the world-famous Krugerrand coins. «There’s some indication pointing to a longer-term closure because the Covid-19-crisis has yet to reach large areas of Africa and as the continent isn’t as well prepared for the problem as Europe,» Habluetzel said.

    A group of politicians and businessmen have joined hands to lead the fight against the virus in Africa – with ex-Credit Suisse boss Tidjane Thiam, former South African Finance Minister Trevor Manuel, and Donald Kaberuka, ex-president of the African Development Bank among them.

    The key indicator for the future development of the gold price will be inflation. Inflation is due to accelerate once the financial and monetary policy measures taken by governments and central banks take effect.

    That, in turn, is likely to give gold a boost, because the precious metal is known as a safe haven for investors that fear inflation. A price of as much as $3,500 for an ounce is theoretically on the table under these circumstances, according to Christian Kaemmerer, a technical analyst. He put his estimate, which he deemed conservative, on his online service platform TA4YOU on Tuesday.

    Lees ook:

    Lees ook:

  • Videoconferencing Apps Under Scrutiny by Banks

    Videoconferencing Apps Under Scrutiny by Banks

    Video chat and conferencing apps have surged in popularity amid the shutdown caused by the Covid-19 pandemic, but they are facing renewed safety and privacy concerns.

    Standard Chartered bank has instructed its employees not to use videoconferencing app Zoom over privacy and security concerns, according to «Reuters,» which viewed an internal memo sent by chief executive Bill Withers, which also warned against using Google Hangouts for virtual gatherings.

    Among the security concerns, Zoom is facing is the lack of end-to-end encryption of meeting sessions, routing of traffic through China and zoombombing, when uninvited guests crash meetings.

    According to experts quoted in the report, these apps offer less encryption than Cisco’ Webex, Microsoft’s Teams, or Blue Jeans, which are typically used in the financial services industry.

    Standard Chartered is the first major global bank to ban the use of Zoom, as the use of digital communications tools surged after lockdowns were enforced to slow the spread of the Covid-19 virus.

    According to Zoom CEO Eric Yuan, its daily users reach 200 million in March, a twenty-fold increase over the previous maximum

    Among its measures to quell the global backlash against its perceived flaws, Zoom appointed former Facebook security chief Alex Stamos to advise it on safety and privacy matters.

    Singapore schools, which have moved to home-based learning, suspended the use of Zoom last week after hackers posted obscene images on screens. This follows Taiwanese and German governments’ curbs, as well as the New York public schools system, of the videoconferencing app.

    The Ministry of Education has since resumed the use of the app, after implementing enhanced security protocols, including centrally managing default security settings and consolidating security settings so they can be more easily activated.

  • Starbucks disclosing financial support for its staff in Asia

    Starbucks disclosing financial support for its staff in Asia

    Global coffee giant Starbucks has announced a US$10 million fund to support its partners (employees) around the world impacted by the coronavirus outbreak.

    The Starbucks Global Partner Emergency Relief Programme marks the first time both company-operated and international licensed market store partners across Starbucks will be able to access hardship grants.

    In company-operated markets such as China and Japan, the grants will be made available to partners through the existing Caring Unites Partners Fund – while in the rest of Asia, where Starbucks operates with local licensed businesses, they will be available to partners through the Emergency Assistance Foundation.

    “During this very difficult time, we believe it is our responsibility to create additional support for partners facing unexpected financial hardship wherever they are,” said Starbucks’ chief partner officer Lucy Helm. “We are proud to be a catalyst for a first-of-its-kind global funding initiative to further demonstrate to our Starbucks partners that we are in this together.”

    Starbucks’ commitment will also create a pathway for international licensed markets to set up their own funds, with Starbucks contributing an initial investment – a first for the company.

    Qualified categories for fund grants include (but are not limited to) housing and utilities, sudden loss of home, death of a family member or partner, and related funeral expenses.

    Lees ook:

  • Permanent home opens for OnTheList Shanghai

    Permanent home opens for OnTheList Shanghai

    OnTheList Shanghai is about to open a permanent showroom in downtown Shanghai, just seven months after the flash-sale pioneer made its debut in the Chinese city.

    After launching its first event last September, OnTheList Shanghai has been working on developing a more long-term presence and building brand awareness through pop-up events there, as part of a region-wide expansion program.

    The new 1000sqm OnTheList Shanghai store will open at Jiangning Road 293 in Shanghai’s famed Jing’an district.

    Co-founder & CFO Diego Dultzin Lacoste describes the store as “a luminous space with an exclusive design which places the customer experience at the heart of its strategy”.

    Given consumers are opting to stay home during the coronavirus pandemic, OnTheList will also hold flash-sale events online, via its WeChat mini program.

    Last September, OnTheList Shanghai debuted with a flash sale on behalf of fashion distributor ImagineX, featuring the brands Club Monaco and Juicy Couture. Products were discounted by up to 90 percent.

    OnTheList turned four in January and during that time has expanded from running short-term sales in pop-up spaces to having its own permanent stores in Hong Kong’s Central, and expanding into Singapore and Taiwan.

    Lees ook:

    Lees ook: