Tag: asia

  • Nespresso launches Maple Pecan flavour capsule

    Nespresso launches Maple Pecan flavour capsule

    Nespresso has launched a Maple Pecan flavour capsule for its Vertuo coffee machine.

    Described as having a rich caramel flavour balanced with notes of maple syrup and nuttiness, the coffee is served in a 230ml cup size and can be enjoyed with milk, hot, frothed, or chilled over ice.

    Nespresso coffee ambassador Mitch Monaghan recommends extracting this coffee using Expert Mode to brew a double espresso, perfect for a strong iced latte or cappuccino, then topping the coffee with maple syrup and crushed pecans to enhance the flavours of the blend.

    “We’ve had many coffee lovers who’ve seen the hype overseas reaching out to ask us when Maple Pecan will come to Australia,” said Monaghan. “I’m happy to say the wait is over!”

    Maple Pecan joins the brand’s permanent collection of flavoured coffees from the Vertuo Barista Creations range and is available to purchase in Nespresso boutiques and online.

  • Lychee farmers suffer losses despite 50% price increase

    A poor lychee harvest in Vietnam’s lychee production hub, northern Bac Giang Province, has led to financial losses for farmers, despite a 50% increase in the fruit’s price.

    Last year, the 40 lychee trees of Oanh’s family were full of fruit, earning them revenues of VND150 million ($5,900). But fewer fruit this year dropped earnings to only VND100 million.

    “I’ve been growing lychees for seven years, but I’ve never seen a year with such a poor harvest,” Oanh said. Anh Huy, also from Bac Giang, said all the lychee flowers were ruined following a period of rain. Production declined by over 90%, he added.

    “This lychee season is entirely lost. No matter how high the prices might be, I will still lose money,” he said.

    Giang, from Thanh Son Commune, said his family’s 5 ha of lychee would also see production dropping by 30% from last year. Even with prices increased 1.5 times higher than normal, the revenue would only be at around 80% compared to last year.

    Lychee gardens are faring well in other localities like Hung Yen, Hai Duong and the Central Highlands, with production dropping to 50-60% of the same period last year.

    Dong Thi Thu Huong, director of Minh Tien agriculture cooperative in Hung Yen, said the cooperative’s 400 ha of lychee production declined by half this year. While a kilogram of lychee was sold at VND15,000 last year, this year, it could be VND25,000, she added.

    “The estimated revenue this year of the cooperative would see a 20-30% drop compared to the same period last year, due to low production despite rising prices,” Huong said.

    The Hung Yen Department of Agriculture said lychee production in the province would see a 30% drop from last year, while Bac Giang said it would see a 50% drop.

    According to the Department of Agriculture and Rural Development, unstable weather patterns have contributed to poor harvest. In winter last year, average temperatures were around 1.5 degrees Celsius higher than the previous year, affecting the development of lychee trees. Short cold periods and long-lasting rains in January and February this year also affected production.

    Le Ba Thanh, vice director of the agriculture department of Bac Giang, said due to abundant harvests last year, there is not enough strength to guarantee a similarly strong harvest this year.

    However Nguyen Nhu Cuong, head of the Department of Crop Production, said rising prices may help offset low production, allowing farmers to net profits.

    Export businesses said they are adjusting their plans due to low lychee production and rising prices. Mai Xuan Thin, director of the Red Dragon production, commerce and service company, said the firm is worried about potentially low supply as it plans to export to several countries this year.

    “Besides Australia, we would export products to the U.S., Japan and Canada as well,” he said.

    Businesses said low supply and high demand may make it more difficult for Vietnamese lychees to be exported, as they would have to compete with lychees from other regions, like China or Mexico.

  • Gold prices inch up

    Gold prices inch up

    Saigon Jewelry Company gold bar price rose 0.22% to VND89.7 million ($3,522.76) per tael Monday morning.

    Gold ring price increased by 0.07% to VND76.45 million per tael. A tael equals 37.5 grams or 1.2 ounces.

    Globally, gold prices on Monday drifted higher from a two-week low hit in the previous session as traders gauged fading hopes of U.S. interest rate cuts ahead of a key inflation report due later this week.

    Spot gold was up 0.5% at $2,346.31 per ounce, having touched its lowest since May 9 at $2,325.19 on Friday.

    U.S. gold futures rose 0.6% to $2,347.60.

    Bullion hit a record high of $2,449.89 earlier last week, but has shed more than $100 since then.

    “I suspect gold can manage a small bounce from current levels before retesting the $2,280-$2,300 zone, which could see losses extended if U.S. data continues to outperform,” said City Index senior analyst Matt Simpson.

    The core personal consumption expenditures price index (PCE), the U.S. Federal Reserve’s preferred inflation measure, is due on Friday.

    Bullion is known as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding gold.

  • Thailand heatwave gives Vietnam edge in durian exports to China

    Thailand heatwave gives Vietnam edge in durian exports to China

    Thai industry insiders say the ongoing heatwave in Thailand might reduce durian production, allowing Vietnam to increase its supply to China.

    A heatwave in April and May reduced Thailand’s harvest, which normally commands higher prices than its Vietnamese peers.

    In April the country recorded a temperature of 44.2 degrees Celsius, compared to the all-time record of 44.6 degrees last year. So far this year Thailand has recorded 61 people dying over heatstroke, higher than the total number in 2023.

    High heat causes the skin to crack or the fibers to dry out in some durians, Sam Sin, development director at S&F Produce Group, a Thai firm that exports durian to China said.

    In China’s Zhejiang province, fruit importer Huang Dapeng mentioned in a WeChat forum that some durians were becoming “overheated,” leading to their sale at prices below the market rate.

    Farmers reported that the heat is causing durians to ripen more quickly, preventing them from reaching their full size and reducing their market value.

    According to China’s General Administration of Customs, in April, China’s import price for Thai durians was US$5.80 per kilogram, marginally higher than the overall average of US$5.38 per kilogram. In contrast, Vietnamese durians were priced at US$4.22 per kilogram.

    Thai durians exported to China in the first four months of 2024 had lost 49% of their value over the same period last year.

    Another concern for Thai durian growers is drought, which could reduce the yields.

    The serve weather condition may reduce Thailand’s durian production this year by 42%, or around 540,000 tons, the Nation quoted Aat Pisanwanich, an expert on international economics and adviser to Intelligent Research Consultancy as saying.

    Vietnam gains on Thailand

    Drought and heatwaves increase durian production costs in Thailand, as farmers face additional expenses to transport water to their farms to sustain their durian trees.

    Conversely, Vietnamese exporters, who gained permission to sell fresh durians in China about three years ago, benefit from cost savings by shipping the fruit across a single land border.

    This logistical advantage results in lower prices for Vietnamese durians. In April, China’s import price for Vietnamese durians was 27% lower than that of Thai durians, at $4.22 per kilogram, according to data from China’s General Administration of Custom

    In the first quarter of this year, Vietnam exported 36,800 tonnes of durian to China, compared to just 17,900 tonnes from Thailand, official data show.

    Thailand maintained a 66% market share in China during the first four months of this year. However, according to Chinese customs data, Vietnam’s share by value rose by 82% in the period.

    Dang Phuc Nguyen, general secretary of Vietnam Fruits & Vegetables Association, said that farmers in the southern region have successfully applied new techniques in growing durian.

    “Durian is a strong advantage for Vietnam in competing for the China market. There are times when Vietnamese sellers are the only ones with supply”, he said.

    Last year China bought $2.1 billion worth of durian from Vietnam, but the figure can reach as high as $3 billion this year, he added.

  • Google starts rolling out password sharing for family members in Password Manager

    Google starts rolling out password sharing for family members in Password Manager

    The introduction of password-sharing to Google Password Manager has been on our radar for some time. Leaks hinted at it, and Google officially confirmed it back in February 2024. Now, three months down the line, the feature is finally beginning to roll out.

    In its May 2024 Google Play Services update (v24.20), Google unveiled the inclusion of password-sharing within Google Password Manager. Just a heads up, though: you can only share your passwords with folks in your family group, not just anyone with a Google account. According to Google’s support document:

    With this new feature, you can now securely share your passwords with your family group in Google Password Manager. When you share a password, your family members will receive a copy of it in their Google Password Manager, ready to be used.

    Google had previously given a couple of examples of how this password-sharing feature could come in handy. The tech giant mentioned managing daycare through a single account or a child giving their parents access to school assignments. However, the feature can also be useful for sharing access to streaming services, for instance.

    With the latest Google Play Services update, Google also introduces new functionality to App Activity, enabling parents to keep tabs on children’s app usage across various time limit settings.

    By default, Google System services automatically update your device, but if you want to check if the May 2024 Play system update is already on your phone, follow these steps:

    1. Head to Settings
    2. Choose Security & Privacy
    3. Select System & Updates
    4. Tap Google Play System Update.

    After that, open Google Password Manager and check if you receive a prompt about family sharing. Just a heads up, it appears that Google is rolling out this feature in phases, so don’t be surprised if it doesn’t show up immediately after installing the latest Play system update.

  • Singapore tops Asia-Pacific with highest private home prices

    Singapore tops Asia-Pacific with highest private home prices

    For the second year in a row, Singapore’s private residential homes were the most expensive in the Asia-Pacific region, with a median price of US$1.3 million in 2023.

    The price is the highest out of the 48 cities in 11 countries in the report published Tuesday by global non-profit research organization Urban Land Institute (ULI).

    Hong Kong, with a median home price of US$1.15 million, and Sydney, Australia, at US$1.06 million, followed closely.

    As for rental housing, the median monthly rent for two-bedroom private apartments in Singapore was also the highest at US$2,897, far surpassing Hong Kong (US$1,725) and Japan’s Tokyo (US$613) in the second and third spots, respectively.

    The city-state was also rated by ULI in last year’s report as the region’s most expensive private housing market, with a median price of US$1.2 million and a median rent of US$2,596.

    However, Singapore has the “most attainable” public housing in this year’s ranking list.

    The report showed that the country has a homeownership rate of nearly 90%.

    Affordability in home ownership is defined by a median home price to median annual household income ratio below 5.

    The median price of Housing & Development Board flats, which make up 90% of the city-state’s housing stock, has a ratio of 4.7, according to the report.

    Among the cities studied by ULI, Singapore boasts the highest median annual household income at US$97,124.

    The average private home price in Singapore has been rising in recent years. It went up 1.5% in the first quarter of this year after increasing 2.8% in the last quarter of 2023. It has jumped 34.5% since the first quarter of 2020.

  • Rubber export value rises 14%

    Rubber export value rises 14%

    Vietnam exported 499,000 tons of rubber for $743 million in the first 4 months of this year, up 6.4% in volume and 14% in value.

    China remained the largest consumer of Vietnamese rubber, accounting for 80% of the country’s total export volume, followed by India.

    The association said that with the recovery of the global automobile and tyre industries, especially in China, Vietnam’s rubber exports will likely enjoy favorable conditions and are expected to surge in the second quarter.

    The association’s general secretary Vo Hoang An said there remained room for Vietnam to increase its exports of rubber materials, as the country can produce 1.3 million tons of rubber latex annually but the local rubber processing sector only needs over 300,000 tons.

    Under a strategy to develop plant cultivation through 2030, rubber yield will be raised to 1.8-2 tons per hectare.

    According to figures from the General Department of Customs, Vietnam exported 2.14 million tons of rubber last year, earning $2.89 billion. The figures represented a year-on-year increase of 0.04% in volume but a decline of 12.7% in value.

    Rubber exports are forecast to reach US$3.3-3.5 billion this year, said the Vietnam Rubber Association.

  • Waze launches feature that alerts you to a back-breaking, butt-flying change to the road you’re on

    Waze launches feature that alerts you to a back-breaking, butt-flying change to the road you’re on

    One of the reasons to use Waze for navigation is the community that is quick to share their recent driving experience over the same roads that you travel on. So if there is a pothole causing an issue on a road, you’ll know about it thanks to those who already suffered from driving over it.  The best way to understand Waze is to look at Google Maps and Apple Maps as the apps to use for the all-around experience of driving to a location, finding places to eat, where to stay, and how you can be entertained.

    Waze is more focused on the actual journey taking you from point “A” to point “B.” Once you get to “B,” Google Maps and Apple Maps can take it from there until you start on the journey back home. And now, according to autoevolution, Waze has started pushing out a new feature that we first mentioned to you a little over a year ago. This feature was one of the most requested features by Waze users back in 2020: Speed Bump alerts.

    If you’ve ever had the privilege of driving full speed over a speed bump, you’ll know the “thrill” of having the “law” of gravity briefly repealed as your rear end takes flight. In February 2023, a member of the Waze team said that Speed Bump warnings were coming to the platform in the near future. Last month, Waze said that it would soon inform users about “sharp curves, speed bumps, toll booths, and more.”

    Now that fellow Waze users’ Speed Bump warnings are being passed along to those using the app, I should be able to read the warnings and slow down as my car approaches a speed bump. This should save me from feeling the pain as my back, damaged with multiple levels of “severe” spinal stenosis, is jostled by the speed bump. And even if you do see a speed bump at the last minute saving you from speeding over it, that last second braking could result in the car right behind you plowing into the rear bumper of your vehicle.

    Not all speed bumps are showing up, but the feature is still in its early days. As we said, the speed bump alerts are part of a new update that includes sharp curves and toll booths. Waze also allows you to choose from a wide selection of voices to guide you over the roadways and you can even choose your own voice to guide you. If you use a phone running iOS, you can install Waze by tapping on this link. If you use an Android device, you can install Waze by tapping on this link which will take you to the Play Store.

  • Update to Shazam allows users to multitask while the app does its thing

    Update to Shazam allows users to multitask while the app does its thing

    Music discovery app Shazam has been updated to version 17.11 today for the Apple iPhone and Apple iPad Shazam apps. Thanks to the update, Shazam will now continue to multitask and run even if you’re using another app. In other words, Shazam will continue to work in the background finding information about a song even while you’re running another app. You can even use Shazam to identify a song playing on another app.

    While Shazam is listening in the background, you’ll see the Shazam icon appear in the Dynamic Island and the results will be displayed via Live Activities on the iPhone. Among other improvements, Shazam now will listen longer before it decides that it cannot name a specific tune, and, with the update, Shazam can now identify classical music. The new features are available for iPhones running iOS 15 or later, and iPads running iPadOS 15 or later. The Apple Vision Pro spatial computer uses the iPad version of the app.

    The Shazam app is available for free from the App Store. You might not have realized that the app is owned by Apple which announced a $400 million deal to buy it in December 2017 although the deal did not close for another nine months. At the time it announced the transaction, Apple said that it had “exciting plans in store” for Shazam. For the most part, iPhone users are still waiting.

    To make sure that your Shazam app is toggled on for Live Activities, go to Settings > Shazam (you must have the app installed first!) and toggle on Live Activities. When you get a notification about a song via Shazam’s Live Activities, tap on the notification and you’ll get the full Shazam page for the song which shows you the name of the album the tune is on, allows you to listen to the full song, view videos related to the song, and hear audio of songs that are similar to the one you had Shazam discover.

    Here’s how this works. Let’s say you hear a tune you want to know more about, but you’re also in the middle of reading an important story for work on a news app. You open the Shazam app, tap on the Shazam icon, and return to the app for work. The Dynamic Island will alert you that Shazam is on the job and will notify you via Live Activities when it has come up with the name of the song.

  • Google Photos opens up Magic Editor and other AI image-editing tools to everyone

    Google Photos opens up Magic Editor and other AI image-editing tools to everyone

    Google Photos is expanding the availability of its powerful photo editing tools, including the popular Magic Editor, to a wider audience. This move, which was initially announced last month, is now gradually becoming a reality for many users of Pixel smartphones.

    Google Photos users can now access an array of AI-powered tools, including Magic Editor, Magic Eraser, Unblur, and various photo and video enhancements, without requiring a Google One subscription. This development is part of Google’s broader effort to democratize advanced photo editing capabilities and make them accessible to a larger user base.

    Magic Editor, which was originally introduced with the Pixel 8 and 8 Pro, allows users to easily modify photos by moving, resizing, or erasing elements, as well as applying different styles and effects. With a simple tap, circle, or brush selection, users can make precise adjustments to their images, and the zoom function enhances this capability further. The tool also offers contextual presets like Sky, Golden hour, and Stylized to provide a range of creative options.

    While Google is extending access to these tools to all Android and iOS users, there are some limitations in place. Users will be able to save up to 10 edited photos per month using Magic Editor. To exceed this limit, a Google One Premium (2+TB) plan or a Pixel smartphone is required. Additionally, Android users will need to meet specific hardware requirements, including Android OS 8.0 or higher, 4GB of RAM, and a 64-bit chipset.

    This expansion of access is great news for those with older Google phones or non-Google phones who would like to try out these AI editing features without having to sign up for Google One. By removing the subscription requirement for these tools, Google is empowering users to enhance their photos and videos with ease, irrespective of their technical expertise or subscription status. This move is expected to be well-received by users who seek to elevate their content without investing in additional subscriptions or complex software.

  • Tumi expands travel retail footprint in Asia

    Tumi expands travel retail footprint in Asia

    Travel accessories brand Tumi is expanding in Asia with a redesigned presence at major airports across the region.

    The stores at South Korea’s Incheon International Airport and Thailand’s Suvarnabhumi Airport opened on earlier this month.

    The new 50sqm store at Incheon International Airport in Seoul contains a large-scale architectural facade. The approximately 19-foot-tall exterior, designed by CJ2 and local South Korean company Design Poom, features a T-icon pattern with 3D aluminium panels accented by a logo-inspired lighting effect.

    The store at Suvarnabhumi Airport in Bangkok also greets customers with an illuminated exterior and a T-icon design.

    Both sites have sleek and modern interiors and offer a wide choice of products tailored to the demands of tourists.

    “With more launches coming soon at Soekarno–Hatto International Airport in Jakarta and Chhatrapati Shivaji Maharaj International Airport in Mumbai, which are also among the busiest in the region, travel retail will continue to be a key focus through thoughtfully planned and skilfully executed designs that bring customers into our world and speak to the way they travel today,” said Aris Maroulis, VP of Asia-Pacific and the Middle East at Tumi.

    The new store at Soekarno-Hatto International Airport is set to open late this month and will join the airport’s other duty-free shops and restaurants in Terminal 3. The location at Chhatrapati Shivaji Maharaj International Airport will open in mid-June and will have a similar design.

  • WhatsApp will soon allow you to preview photos and videos within pinned messages

    WhatsApp will soon allow you to preview photos and videos within pinned messages

    WhatsApp, the popular messaging app, is continuously testing new features for its large user base, and it usually does that by pushing them first to its beta app available through the Google Play Store. Recently, according to WABetaInfo, the company has been testing a new preview feature for pinned messages that can be found in the latest beta version 2.24.11.12. This new update aims to make it easier for users to manage and access important messages within their chats.

    This feature was first spotted in a previous beta version, 2.24.7.27, and it has now progressed to public testing. By incorporating a thumbnail preview for pinned messages, WhatsApp is taking another step towards enhancing user interaction and organization within chats. This means users will be able to quickly identify the content of a pinned message without having to open it fully, streamlining their messaging experience.

    The thumbnail preview will be particularly useful for media messages, including photos and videos. Users can now instantly recognize the media content directly within the pinned message preview area, saving time and effort. Whether it’s a funny meme, an important document, or a memorable video, the new preview feature is designed to make navigating through pinned messages a breeze.

    This enhancement builds upon previous updates, such as the ability to pin multiple messages and the 24-hour, 7-day, and 30-day pinning durations. While the preview feature is currently available to select beta testers, it is expected to roll out to more users in the coming days. If you’re eager to try it out, you can join the WhatsApp beta program on the Google Play Store and install the latest update. However, do note that availability for this program is almost always full to capacity, however, your mileage may vary.

    WhatsApp continues to innovate and refine its features to cater to the needs of its vast user base. The new preview feature for pinned messages is a testament to the company’s commitment to making messaging more seamless and efficient.

  • Temu moves closer to Brazil debut after securing tax benefit from government

    Temu moves closer to Brazil debut after securing tax benefit from government

    Chinese e-commerce retailer Temu has been certified for a tax benefit program by Brazil’s government that exempts goods up to $50 from import fees, according to the country’s federal revenue office’s website on Monday, bringing the company closer to expanding its business to Latin America’s largest economy.

    Why it’s important

    Inclusion in Brazil’s tax exemption program “Remessa Conforme” is an advantage most cross-border retailers have in the country. Local media have reported Temu has been preparing the groundwork to enter Brazilian markets for a few months, although little detail is known so far.

    Context

    Temu is a popular shopping app from China’s Pinduoduo. Its rivals Shein, from China, and Shopee, owned by Singapore’s Sea, are already huge online shopping platforms in Brazil.

    The response

    Temu did not immediately respond to a Reuters request for comment. Its Brazilian website address said on Monday that Temu’s services should be available “soon” in the South American country.

  • Garuda Indonesia and Singapore Airlines strengthen commercial partnership

    Garuda Indonesia and Singapore Airlines strengthen commercial partnership

    Garuda Indonesia (GA) and Singapore Airlines (SIA) today committed to deepen their commercial partnership, with the aim of offering reciprocal benefits for their frequent flyer programme members, and to explore revenue sharing arrangements for flights between Indonesia and Singapore, subject to regulatory approvals.

    The frequent flyer programme agreement was inked by Garuda Indonesia Chief Executive Officer (CEO) Mr Irfan Setiaputra and SIA CEO Mr Goh Choon Phong in Jakarta today, while the joint venture revenue share agreement was signed by Garuda Indonesia Director of Service and Commercial Mr Ade R. Susardi and SIA Chief Commercial Officer Mr Lee Lik Hsin.

    When launched, the frequent flyer partnership will allow GarudaMiles and KrisFlyer members to earn and redeem miles on codeshare flights operated by both airlines. The revenue sharing agreement, when implemented, will support joint capacity growth, marking a significant step in the plans for a proposed commercial joint venture arrangement that covers Garuda Indonesia and Singapore Airlines flights between Singapore and Indonesia.

    Both carriers are continuing with joint marketing activities to promote tourism. This potentially includes joint activities to promote tourist traffic to Indonesia, including familiarisation trips for travel trade and media.

    Singapore Airlines and Garuda Indonesia have a strong codeshare partnership that has expanded in recent months. Today, Garuda Indonesia codeshares on Singapore Airlines flights between Singapore and the Indonesian cities of Bali, Jakarta, Medan, and Surabaya, as well as long-haul routes between Singapore and Johannesburg, London (Heathrow), and Mumbai. SIA codeshares on Garuda Indonesia flights between Singapore and Bali, Jakarta, and Surabaya.

    Mr Irfan Setiaputra, President and CEO of Garuda Indonesia, said that this partnership is part of Garuda Indonesia’s efforts to improve the Company’s performance through a strategic commercial partnership, especially in providing added value to customers. “Having the same mission in optimising the potential of the aviation business ecosystem in South East Asia after the pandemic, this initiative is certainly an important manifestation of both airlines’ commitment to continue strengthening our well-established cooperation,” Mr Irfan explained.

    He added: “This partnership is a special moment for us, which also marks the 58 years of Garuda Indonesia’s journey in connecting Indonesia and Singapore. In the future, we hope that this partnership will continue to enhance social, cultural, and tourism relations between Indonesia and Singapore whilst offering seamless access for customers to enjoy various destinations served by both airlines.”

    “We hope that the expansion of this partnership will bring added value for Singapore and Indonesia, which are served by both airlines. Furthermore, this collaboration is also expected to not only provide added value for both airlines’ customers, especially through the ease of earning and redeeming miles for tickets and other exclusive benefits, but the hope is that it will strengthen Garuda Indonesia’s support for national tourism by providing more access to points in Indonesia for foreign tourists who will visit Indonesia via Singapore in the future,” Mr Irfan said.

    Mr Goh Choon Phong, Chief Executive Officer, Singapore Airlines, said: “Our win-win partnership with Garuda Indonesia will improve the connectivity between Indonesia and Singapore for our customers. This will help to meet the increasing demand for air travel between the two countries and beyond, as well as facilitate the growth of tourism and economic activities. Furthermore, by deepening the synergies between our frequent flyer programmes, we can enhance the benefits for our loyal customers, offering them more opportunities to earn and redeem miles when travelling with both airlines.”

  • JD’s first-quarter revenue beats estimates

    JD’s first-quarter revenue beats estimates

    Chinese online retailer JD.com on Thursday reported first-quarter revenue that beat market estimates, as deep price cuts helped boost sales that had been hit hard by cautious customer sentiment.

    US listed shares of the company rose about 3.5 per cent in premarket trading.

    JD.com and bigger rival Alibaba Group have been lowering prices and offering discounts to maintain market share in the world’s second largest economy where consumers are gravitating toward low-cost, discount-focused platforms. JD.com has also been growing its logistics, electronics and home appliances divisions. On Tuesday, Alibaba reported an 86% drop in quarterly profit, primarily due to valuation change from equity investment, though it beat revenue estimates.

    Net revenue rose 7 per cent to US$36.02 billion in January-March, versus the $35.662 billion average of 21 analyst estimates compiled by LSEG. Analysts see full-year sales growing 6.7 per cent.

    JD.com reported net income attributable to shareholders of $986.6 million, up nearly 14 per cent from $866.2 million a year earlier.