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Tag: asia

  • Pepper exports rise in volume, fall in value

    Pepper exports rise in volume, fall in value

    While Vietnam’s pepper export volumes soared by 16.6% to 267,000 tons in 2023, the value dropped by 6% to US$912 million, according to the Vietnam Customs.

    The average export price of Vietnamese pepper, which constitutes 60% of global supply, dropped by 19.4% from the previous year, to US$3,420 per ton.

    Black pepper made up 71.2% of Vietnam’s exports, and white pepper comprised the remainder.

    The U.S. remained the top purchaser of Vietnamese pepper, accounting for 23.5% of the total export value, followed by China 14.1%, India 5.4% and Germany 4.3%.

    The U.S. decreased its pepper imports from India in favor of Vietnamese pepper, which is recognized for its favorable pricing and improving quality.

    The Vietnam Pepper and Spice Association notes that Vietnamese pepper holds a competitive edge over other pepper-exporting nations such as Indonesia and India, bolstered by the European Union-Vietnam Free Trade Agreement, which has slashed the import tax on ground and crushed pepper to the EU to zero.

    It is forecast Vietnam’s pepper export slow down because domestic supply is no longer abundant. The pepper inventory in 2024 will be at its lowest in many years.

    This year’s pepper crop is projected to decrease by 10-15% to around 165,000 tons due to smaller cultivation areas and unfavorable weather conditions.

  • Central bank reveals investor interest in restructuring troubled lender SCB

    Central bank reveals investor interest in restructuring troubled lender SCB

    The State Bank of Vietnam (SBV) is considering proposals from investors to restructure the Saigon Commercial Bank (SCB), a bank experiencing financial difficulties.

    After SCB faced a run in October 2022, the central bank put the private lender under special control to limit negative impacts on it and credit institutions in general.

    Historically, several banks under special control have successfully recovered and prospered.

    The SBV is also formulating plans to restructure other struggling banks, including CBBank, OceanBank, GP Bank, and DongABank.

    While plans to restructure these banks are being considered and prepared for approval, progress is lagging behind the anticipated schedule.

    The government has previously indicated the challenge of finding financially healthy commercial banks willing to merge with these ailing institutions.

    Additionally, banks require time to persuade shareholders, particularly major and foreign strategic shareholders, to agree to mandatory transfers.

    In mid-December, meeting with the leaders of Mizuho, one of the three largest banks in Japan, Prime Minister Pham Minh Chinh asked them to participate in restructuring Vietnam’s weak banks.

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  • Carmaker Thaco eyes $4.1B circular bauxite complex project

    Carmaker Thaco eyes $4.1B circular bauxite complex project

    Carmaker THACO has proposed a circular economy complex for mining and processing bauxite worth VND103 trillion (US$4.1 billion) in Lam Dong Province.

    The project, called Lam Dong 2 Aluminum Complex, will be carried out in Bao Lam, Da Huoai and Da Teh districts and Bao Loc City.

    It will encompass the entire process of mining bauxite ores, processing them into aluminum, restoring the surrounding environment, planting crops and developing ecotourism in the area.

    Almost one-third of the project’s capital will come from THACO while the remainder will come from loans.

    The complex is divided into three stages, which will be carried out over 10 years, and is expected to produce four tons of aluminum per year once it is put into operation in 2034.

    During the project’s 50-year duration, it will mine bauxite ores to manufacture aluminum in the first 20 years then switch to external bauxite supply in the remaining 30 years, says THACO.

    The carmaker is asking to have a meeting with Lam Dong People’s Committee this month to present its research results and implementation plan for the project.

    It aims to complete the report on the project’s feasibility quickly and submit it to regulators within the first quarter of 2024.

    THACO is a multi-industry corporation that currently operates in automobiles, agriculture, mechanics, logistics, construction, and commerce.

    The firm’s profit after tax was just over VND1 billion for the first six months of 2023, which is barely 25% of the profit it earned in the same period in 2022 when the car industry was mired in difficulties.

    Lam Dong Province has one of the largest bauxite reserves in the Central Highlands region, and there are currently two bauxite plants in the province.

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  • Metcash appoints Kylie Wallbridge as liquor division CEO

    Metcash appoints Kylie Wallbridge as liquor division CEO

    Wholesaler Metcash has appointed Kylie Wallbridge as the new CEO of its liquor division, effective in March.

    Metcash’s liquor segment includes the Cellarbrations, IGA Liquor, and The Bottle-O brands.

    Wallbridge will replace John Barakat, who has been the acting liquor CEO since the early retirement of Chris Baddock due to health reasons.

    Currently, Wallbridge serves as the MD of Diageo in the UK. She previously served as the MD of Diageo in Japan.

    “Kylie is a proven business leader with a track record for delivering results. Her alignment to our purpose of Championing Successful Independents and her passion for people is evident through her strong relationships with both retailers and suppliers,” said Metcash CEO Doug Jones.

    “I have no doubt Kylie will be a great asset to the Liquor pillar and Metcash more broadly. We warmly welcome her to Metcash. I would also like to sincerely thank John for acting in the role following the retirement of Chris last October.”

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  • Global energy drinks market reaches $62.89 billion in FY23

    Global energy drinks market reaches $62.89 billion in FY23

    The global energy drinks market’s value reached $62.89 billion in 2023, posting a 7.5 percent compound annual growth rate (CAGR), with the strategic addition of new flavours emerging as a key trend.

    According to The Business Research Company, the increased demand on emerging distribution channels, notably e-commerce, is driving the growth of the energy drinks market.

    The research firm forecasts that the market, dominated by Red Bull, Monster Beverage Corporation, PepsiCo, and Coca-Cola Company, will further increase to $83.83 billion in 2027 at a sustained CAGR of 7.5 per cent.

    It noted that introducing new flavours is an emerging trend, such as Red Bull’s launching of Coconut Edition Sugar-free energy drinks in 2021, a mix of coconut and B-group vitamins, taurine, and acesulfame-K as a sweetening agent.

    Such innovations, which seek to attract new customers and boost sales, demonstrate the dynamism of the energy drinks industry.

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  • Paradox Coffee unveils its first limited-edition single-origin coffee

    Paradox Coffee unveils its first limited-edition single-origin coffee

    Paradox Coffee Roasters has introduced Los Contares Panama Geisha Natural, the brand’s first limited edition single-origin coffee, with only 100 tins produced and roasted to order.

    But it is not for the budget-conscious: Los Cantares Panama Geisha Natural comes in a 100gm numbered tin and sells for $65. It is only available to purchase online at paradoxroasters.com.

    The specialty fine filter coffee originates from Panama, Central America, and Paradox says it boasts “complex-tasting notes of strawberries, soft floral jasmine, nashi pear’s sweet acidity, and a gentle clean finish”.

    “It is not every day you come across a coffee with such a symphony of flavours,” says Yogesh, head coffee roaster, Paradox Coffee Roasters.

    “Every sip highlights how precious this coffee is and I am sure you will enjoy it as much as I do.”

    The tins also contain information on the coffee estate owned by coffee producer Marie Jackie Mercer, a brew recipe, coffee tasting notes, and a personalised invitation to a virtual coffee tasting session led by the brand’s training managers and head roaster.

    “Our virtual tasting session is designed as a journey of discovery,” says Nicole Saleh, MD at Paradox Coffee Roasters.

    “People who purchase this exceptional coffee can join our Paradox team online for an interactive coffee experience to learn more about the coffee origin and farm, how the coffee is roasted, how to brew this exceptional filter coffee, a discussion of the characteristics in the cup and what makes this Los Cantres Natural Panama Geisha so special”.

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  • McDonald’s Malaysia files $1M lawsuit against Israel boycott movement

    McDonald’s Malaysia files $1M lawsuit against Israel boycott movement

    McDonald’s Malaysia has filed a lawsuit seeking US$1.31 million in damages from a movement promoting boycotts against Israel for “false and defamatory statements.”

    Gerbang Alaf Restaurants Sdn Bhd (GAR), which is the licensee of McDonald’s in Malaysia, is suing the Boycott, Divestment and Sanctions (BDS) Malaysia movement, claiming that BDS had made a series of social media posts linking the fast-food franchise with Israel’s military offensive in Gaza?

    It said the BDS campaign has encouraged a public boycott of McDonald’s Malaysia, resulting in financial losses, employment reductions and other adverse effects due to the shutdown and reduced operational hours of its establishments.

    In response, BDS Malaysia said it “categorically denies” defaming the fast-food company and would leave the matter to the court.

    “Boycotting companies like these is a personal choice and it is up to that individual consumer,quoted social media user Sheryl Ho as saying.

    “That being said, anyone in their right frame of mind who wasn’t boycotting [McDonald’s] before this, sure would be doing it now.

    “They terminated their staff to save cost and they are making other people pay for it?” X user Syafiq Fadli asked.

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  • Air India reveals new livery on its first A350

    Air India reveals new livery on its first A350

    Air India welcomed the first of 20 Airbus A350-900 aircraft on 23 December sporting the airline’s latest livery.

    The widebody aircraft, registered VT-JRA, arrived in New Delhi at 13:46 (local time) after the delivery flight from the Airbus facility in Toulouse.

    With the latest delivery, Air India is now the first carrier in the country to operate the A350. The aircraft will enter commercial service in January 2024 and will initially be operated domestically for crew familiarisation.

    Air India has 20 Airbus A350-900 on order, with five more scheduled for deliveries through March 2024. The airline’s firm orders with Airbus this year amounting to 250 aircraft also include 20 A350-1000.

    “This moment marks a red-letter day for all of us at Air India,” said Campbell Wilson, CEO and managing director at Air India.

    “The A350 is not just metal and engines; it’s the flying embodiment of the relentless efforts of all Air India employees towards our airline’s continuing transformation and of our commitment to setting new benchmarks. It is also, in many ways, a declaration of Indian aviation’s resurgence on the world stage.”

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  • Samsung Wallet rolls out mobile driver’s licenses

    Samsung Wallet rolls out mobile driver’s licenses

    Samsung Wallet, the app that lets users store and manage their cards, tickets, and coupons on their Samsung Galaxy smartphones, has added a new feature: mobile driver’s licenses and state IDs. The company announced back in October that it will bring this feature to Arizona and Iowa, however, other than “coming later this year,” no specific date was given for when it would exactly go live.

    Now, it looks like the wait is over as the feature is live in Arizona, according to the Arizona Department of Transportation announcement. Samsung Wallet users who are Arizona residents can now store a digital version of their physical cards on their phones and use them at places that accept digital IDs, such as TSA checkpoints at select airports.

    This feature offers more convenience and security for users, as they don’t have to carry their physical cards with them and risk losing or damaging them. The digital IDs are also encrypted and protected by fingerprint or PIN authentication, so only the authorized user can access them.

    To add a mobile driver’s license or state ID to Samsung Wallet, users just need to open the app, go to the Quick access tab, and click on the ‘+’ button. Select ‘Digital IDs’ from there, and click on the ‘Driver’s License/State ID’ option. At that point, users will need to scan the front and back of their ID card and verify their identity with a face scan.

    Samsung says the face scan is only for verification purposes and does not store any biometric data. After submitting the scan, users need to authenticate with their fingerprint or PIN to complete the process.

    This convenience isn’t just limited to air travel, though. Samsung envisions a future where digital IDs can be used for age verification, entering age-restricted establishments, and even renting a car. While Arizona is the first to experience this revolution, Samsung promises to add more states and functionalities in the near future.

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  • Amazon tells its Prime Video subscribers that ads are coming on January 29th

    Amazon tells its Prime Video subscribers that ads are coming on January 29th

    Get ready for a dose of reality (and advertisements) between your binge sessions: Amazon Prime Video officially joins the ad-fueled streaming party. After announcing what was coming a few months back, Amazon has now confirmed via an email sent to its Prime members, that their favorite movies and shows will be punctuated by ads starting January 29, 2024.

    This shift significantly departs from Prime Video’s ad-free haven, a perk previously bundled with the $139/year (or $14.99/month) Prime subscription, known primarily for its free two-day shipping. But for those averse to mid-episode interruptions, Amazon is offering an option that will cost you: an ad-free tier for an additional $2.99/month, plus applicable taxes.

    Justifying the move, Amazon cites the need to fuel its ever-expanding content library. “This will allow us to continue investing in compelling content and keep increasing that investment over a long time,” their email reads, assuring us of “meaningfully fewer ads” compared to traditional TV.

    Interestingly, Amazon is already pre-selling the ad-free tier, giving Prime members a head start on securing uninterrupted viewing. This change, of course, does not apply to rented or purchased content from the streaming service. However, note that certain types of content, such as sports or Freevee titles, will continue to include ads even when the viewer is subscribed to the ad-free tier.

    While some appreciate the “investment in compelling content” reasoning, reactions by long time Prime subscribers show that they feel betrayed by the broken promise of ad-free streaming. The price hike adds fuel to the fire, leaving members questioning the true value proposition of Prime Video.

    Will Amazon’s ad-spiked strategy pay off? Only time will tell. But one thing’s certain: the golden age of ad-free streaming seems to be fading, leaving viewers with a choice – pay more, pay less with ads, or seek greener (and ad-free) pastures elsewhere.

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  • Lowe’s finally adds support for Apple Pay

    Lowe’s finally adds support for Apple Pay

    The second-largest hardware chain in the U.S. has finally decided to support Apple Pay. For those who don’t know what Apple Pay is, it is the mobile payment service that allows an iPhone user to select a credit, debit, or prepaid card from the Wallet app and tap the phone against a POS machine to complete a transaction at a retail store.

    You don’t have to fumble for your wallet to grab your credit card, especially when you’re bundled up to stay warm in the bitter cold, and you don’t have to worry about your card’s information being stolen by a skimmer placed inside a card slot by a criminal. It’s just so darn convenient and it costs you nothing to use it. Apple collects .15% of the value of every transaction rung up with Apple Pay. That means that on a $100 transaction, Apple earns the princely total of 15 cents.

    But this is a volume business after all and with so many people using Apple Pay, the service is expected to generate $4 billion in revenue for Apple this year which is more than double the $1.9 billion that Apple Pay raked in for Apple in 2022. Earlier this year Apple promoted Apple Pay with a series of ads. And now, after a long absence, Lowe’s is adding Apple Pay support to its 2,100 retail locations in the U.S.

    This is a shrewd move by Lowe’s and an attempt to take some business away from the number one hardware chain in the U.S. since Home Depot does not support Apple Pay. Another huge retailer that doesn’t support Apple Pay is Walmart. Eight years ago we told you when the largest discount retailer in the states launched its own mobile payment service imaginatively titled Walmart Pay.

    Using Walmart Pay requires you to install the iOS or Android version of the Walmart app on your phone. Earlier this year Kroger tried to apply some pressure to competitor Walmart by accepting Apple Pay for the first time starting last April.

    It would be quite a big deal for Apple if Walmart were to add support for Apple Pay like Lowe’s did because, eventually, continued growth for Apple Pay will have to come from the addition of more retailers, especially those huge chains that previously held back support for the service.

    If you’re like me, there is that feeling when Face ID verifies you and that “ding” goes off indicating that your payment via Apple Pay has been accepted. And we have no doubt that Apple loves that sound too since it means more money, albeit in nickels and dimes, is being added to its coffers.

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  • Japan’s Nintendo store makes its debut in Hong Kong

    Japan’s Nintendo store makes its debut in Hong Kong

    Nintendo has made its solo store debut in Hong Kong just a month after stepping into Southeast Asia retail with a pop-up store in Singapore.

    The pop-up store is located at the K11 Art Mall and is open until January 28.

    The store will sell products based on the video games Super Mario, The Legend of Zelda, Splatoon, Animal Crossing, and Pikmin, as well as Nintendo Switch systems and game software.

    Elephant Mario and Pikmin – making their debut appearance at K11 Art Mall – will provide fans with photo opportunities, Super Mario Bros Wonder and limited-time Pikmin-themed decor. The venue will include trial zones for Super Mario Bros Wonder and Pikmin 4, allowing guests to immerse themselves in the world of the Nintendo Switch.

    Nintendo opened its online store in Hong Kong in 2019, allowing fans of the Japanese game platform to purchase software directly from the maker.

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  • WhatsApp working to bring audio sharing over video calls feature to Android users too

    WhatsApp working to bring audio sharing over video calls feature to Android users too

    WhatsApp is always working to add new features to its app, so it’s no surprise that beta users are already seeing some options that are not yet available to anyone else. The new feature that’s available for WhatsApp beta users on Android allows them to share audio content during a video call.

    This feature was originally released in a previous beta version of WhatsApp for iOS, so it’s safe to assume that the ability to share audio over video calls will eventually come to both iOS and Android platforms.

    With WhatsApp beta for Android 2.23.26.18, users can listen to video and music audio together. When the screen is shared, audio played on a device will also be shared with people in the call (via WaBetaInfo).

    Just like on iOS, this feature will not work during voice calls or video calls that have video disabled. Obviously, since this is still under development, it’s hard to say when it will be available for everyone, but if we were to guess, WhatsApp will not release it until next year.

    For those who want to try it out, enrolling in the beta program is easy and doesn’t require too much of your time. Be prepared to experience some bugs though.

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  • Vietnam Electricity eyes wind power import from Laos

    Vietnam Electricity eyes wind power import from Laos

    Vietnam Electricity wants to import wind power from Laos as it seeks to combat a looming shortage in the northern region.

    Several wind power investors in Laos with a combined capacity of 4,149 megawatts want to sell electricity to Vietnam, the national utility said in a report to the Ministry of Industry and Trade.

    The imports will help bridge a supply gap in the northern region between 2024 and 2030, especially in summer when water levels plummet in hydropower dams.

    Power Development Plan 8 focuses on the development of liquefied natural gas and renewable power sources, which are costly, and does not prioritize cheaper sources such as hydropower.

    This means importing power from Laos will help reduce costs somewhat.

    Laos’s maximum wind power feed-in tariff is 6.95 U.S. cents per kilowatt-hour for plants that become operational by the end of 2025, which is much more competitive than Vietnam’s 8.5 cents for onshore and 9.8 cents for offshore plants that went on stream before November 2021. But the Laos price is higher than for some plants in Vietnam that went on stream after that date. Their tariffs start at 6.42 cents.

    Some hydropower plants in Laos with whom it has signed purchase agreements would only begin generating power after 2025, meaning alternative sources are needed in the next two years, EVN said.

    It called on the government to install more transmission lines to increase imports from Laos.

    In the first 11 months of this year Vietnam’s electricity imports – from Laos but also China — accounted for 1.5% of total supply.

  • The delayed collaborative Apple Music playlist surfaces in iOS 17.3 beta 1

    The delayed collaborative Apple Music playlist surfaces in iOS 17.3 beta 1

    Worried about abuse and spam, Apple removed the collaborative Apple Music playlist feature from iOS 17.2. With the collaborative playlist, friends and family members can make changes to your playlist including the addition/deletion of songs, and the reordering of the list. In “Now Playing,” the same friends and family members can react to a particular song using an emoji. Apple reportedly pushed back the release of the feature to an unknown date next year.

    The collaborative Apple Music playlist still might not be available to all iPhone users with an eligible device until 2024 when the final version of iOS 17.3 is released. But for those who install iOS 17.3 beta 1, the feature is available now. Whether Apple keeps the collaborative Apple Music playlist on the final version of the update is unknown. Heck, Apple could even decide to remove it from iOS 17.3 beta 2.

    By default, only the person who created the playlist, which is the device owner, will be able to add songs to the playlist. However, the feature will allow the device owner to make a change in settings that will allow others to decide what the tunes on the playlist should be and in which order they should play. And if someone out there is sick of a particular tune on the playlist, it can be removed.

    Still, if you’d like to check it out while you can now, you can join the Apple Beta Program by going to beta.apple.com, or by clicking on this link. Sign up for the Beta program and once you do, go to Settings > General > Software Update and you’ll see a line on top of the screen for Beta Updates. Tap on that line and press on iOS 17 public beta to receive the update.

    Keep in mind that beta releases are not stable and if a feature you need every day is affected, you might have to erase the beta which will wipe your phone. If you have a backup saved, you can get your data back by installing the backup. Frankly, if having the collaborative Apple Music playlist is not important to you, you might as well wait to see if it survives to the final version of iOS 17.3 which will probably be sometime next month.