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Tag: Peak

  • Vietjet and Bamboo Airways Hike Checked Baggage Fees Prior to Peak Summer Travel Rush

    Vietjet and Bamboo Airways Hike Checked Baggage Fees Prior to Peak Summer Travel Rush

    Vietjet Air and Bamboo Airways, two leading airline companies, have recently increased their rates for checked luggage by 15-25%. This price surge has come into effect just before the beginning of the high-demand summer travel season.

    Revised Baggage Prices

    According to a recently released pricing schedule, checking in 20 kg on Vietjet’s domestic flights has become 25% more expensive, now costing VND250,000 (equivalent to US$9.5) plus tax. For 30 and 40 kg luggage, the prices have risen by 20%, costing VND360,000 and VND480,000 respectively. Furthermore, the pricing for oversized bags and extra carry-on allowance has also seen an increase of approximately 20%.

    The price adjustments also apply to various international routes. For instance, the price for checked baggage weighing 20 kg on Southeast Asia flights has increased by 21%, amounting to VND580,000. Meanwhile, on flights to Hong Kong, Taiwan, and mainland China, the rate has similarly increased to VND700,000.

    Bamboo Airways has also implemented an approximate 15% increase on their domestic flights during peak seasons such as Tet (the Lunar New Year) and summer. The summer fees are set to be applicable from May 20 to August 15 as well as from August 27 to September 2.

    Implications of Rising Costs

    A flight booking agency in Ho Chi Minh City noted that several airlines have been increasing fares and other prices, such as checked baggage, seat selection, and in-flight meals, in response to the escalating fuel costs. It has been observed that customers, who previously focused solely on ticket prices, are now showing heightened awareness of baggage fees when planning their travel expenses, particularly families and long-term travelers who may end up adding millions of dong to each trip due to these charges.

    According to a report by the Civil Aviation Authority of Vietnam, the prices of Jet A1 aviation fuel have consistently remained high in Asia, occasionally reaching US$214-216, as a result of Middle East tensions. This fluctuation in fuel prices has significantly impacted airlines’ operating costs and airfares in recent years.

    Questions & Answers

    What is the percentage increase in Vietjet Air and Bamboo Airways’ checked baggage prices?
    Answer: Their checked baggage prices have increased by 15-25%.

    How is the increase in baggage prices affecting customers’ travel planning?
    Answer: Customers are now more conscious of baggage fees when planning their travel expenses.

    What has contributed to the increasing operating costs for airlines in recent years?
    Answer: Fluctuating fuel prices, particularly of Jet A1 aviation fuel, have significantly impacted airlines’ operating costs and airfares in recent years.

  • Starbucks Reaches New Heights: Unveils Asia’s Highest Coffeehouse on Vietnam’s Fansipan Peak

    Starbucks Reaches New Heights: Unveils Asia’s Highest Coffeehouse on Vietnam’s Fansipan Peak

    Starbucks has inaugurated a new outlet at the peak of Fansipan, making it the highest Starbucks branch in Asia.

    Location and Significance

    Positioned 3063 meters above sea level, the store is a part of the Sun World Fansipan Legend tourism complex in Sa Pa, located in the northern region of Vietnam. This new Starbucks outlet not only broadens the company’s presence in popular tourist destinations, but also signifies another milestone in its market expansion.

    Regarding this notable accomplishment, Chi Nguyen, Starbucks Vietnam’s Public Affairs Manager, stated, “This achievement signifies the unwavering support from our customers and partners. The store, with its stunning location and design that embraces both the local culture and Starbucks’ craftsmanship, will unquestionably become a must-visit spot for travelers from Vietnam and from around the globe.”

    Design and Décor

    The design of the outlet draws inspiration from architectural elements typical of Sapa. The exterior showcases a sage-green facade and integrates local textiles. In contrast, the interior utilizes wood textures, neutral tones, and greenery to replicate the surrounding highland scenery.

    Additionally, a personalized sandblasted glass artwork positioned above the bar illustrates the contours of Fansipan and Vietnam’s coffee-growing regions. The seating areas are purposefully arranged to provide visitors with a panoramic view of the surrounding mountains.

    New Beverage Introduction

    To celebrate the inauguration, Starbucks Vietnam has launched a limited-time Cloud Macchiato beverage series. These beverages will be available in both hot and iced versions at Starbucks outlets throughout the nation.

    Starbucks made its first entry into Vietnam in 2013, opening in Ho Chi Minh City. The brand now boasts over 150 stores spread over 25 cities and provinces in the country.

    Questions & Answers

    Where is the highest Starbucks store in Asia?
    The highest Starbucks store in Asia is located at the peak of Fansipan in northern Vietnam.

    What unique design elements does the Fansipan Starbucks store feature?
    The Fansipan Starbucks store embraces local architectural influences, featuring a sage-green exterior that incorporates local textiles. The interior uses wood textures, neutral tones, and greenery to reflect the surrounding highland landscape.

    What special beverage series has Starbucks Vietnam introduced to celebrate the new store opening?
    To commemorate the opening of the new store, Starbucks Vietnam has introduced a limited-time Cloud Macchiato beverage series, available in both hot and iced versions.

  • US Dollar Soars to Year’s Peak Against Major Currencies, Dodging Inflation Threats”

    US Dollar Soars to Year’s Peak Against Major Currencies, Dodging Inflation Threats”

    The U.S. dollar experienced a surge against the Vietnamese dong on Thursday morning, while oscillating around its apex value against significant international currencies this year.

    Vietcombank, a prominent banking institution, reported a minor increase of 0.01% in the value of the dollar, selling it at a rate of VND26,314.

    Contrarily, the U.S. dollar dipped slightly by 0.18% to VND27,910 in the unofficial currency exchange market, also known as the black market.

    Thursday witnessed the U.S. dollar, a popular refuge during periods of financial instability, hovering near its most robust position for the year. This trend was driven by the rising oil prices, which are predicted to escalate inflation and compel central banks around the world to espouse more assertive monetary policies.

    In early Asian trading, the euro experienced a slight decline of 0.1% against the dollar, going down to $1.1549. This brought the euro close to its lowest value since November of the previous year.

    Similarly, the Japanese yen saw a momentary fall, surpassing the 159-per-dollar mark. It depreciated as much as 0.2%, reaching 159.23. This puts the yen on the brink of its most diminished value since July 2024.

    The Australian dollar and the New Zealand dollar also observed declines, both slipping by 0.1%, with the former valued at $0.7148 and the latter at $0.5907.

    Questions & Answers

    What factors influenced the rise in the value of the U.S. dollar?
    The uptick in the value of the U.S. dollar can be attributed to the increasing oil prices, which are expected to instigate inflation and cause global central banks to adopt a more aggressive policy stance.

    How did the rise in the U.S dollar affect other major international currencies?
    The rise of the U.S dollar resulted in a slight depreciation of several international currencies such as the Vietnamese dong, the euro, the Japanese yen, the Australian dollar, and the New Zealand dollar.

    What was the selling rate of the U.S. dollar in the black market?
    In the black market, the U.S. dollar saw a nominal decline, with its rate recorded at VND27,910.

  • Russia Strikes Gold: Historic Peak of $310.72 Billion Shakes Up Global Rankings

    Russia Strikes Gold: Historic Peak of $310.72 Billion Shakes Up Global Rankings

    Russia’s gold reserves have reached a record-breaking value of US$310.72 billion, a significant increase of 57% from the previous year. According to data released by the Central Bank of Russia as of November 30th, this marks the fourth consecutive month of growth.

    Gold’s Role in Russia’s International Reserves

    Gold now represents over 42% of Russia’s international reserves, a percentage that has not been seen in the past 30 years. The total reserves, which include gold and foreign exchange, have seen a 19% year-on-year increase to $734.59 billion.

    Russia’s Position in Global Gold Investing

    According to the World Gold Council, Russia stands as the fifth-largest gold investor globally in the third quarter, with 2,329 tonnes in its reserves. The only nations that are ahead of Russia in terms of gold investment are the United States, Germany, Italy, and France.

    Meanwhile, China, holding the sixth position, has 2,303 tonnes of gold. However, interestingly, the value of gold only represents 7.68% of its total reserves.

    On the other hand, the United States continues to maintain the most significant gold reserves globally. Its 8,133 tonnes of gold account for a whopping 80% of the country’s reserves.

    Questions & Answers

    What is the current value of Russia’s gold reserves?
    The current value of Russia’s gold reserves is a record-breaking US$310.72 billion.

    What percentage of Russia’s international reserves is made up by gold?
    Gold now represents over 42% of Russia’s international reserves.

    Where does Russia rank worldwide in terms of gold investment?
    According to the World Gold Council, Russia is the fifth-largest gold investor in the world.

  • Dollar Soars to Monthly Peak Against Vietnamese Dong Amid Anticipated US Shutdown End

    Dollar Soars to Monthly Peak Against Vietnamese Dong Amid Anticipated US Shutdown End

    A 49-year-old Singaporean has triumphed over 700 competitors to secure the opportunity to manage Chick-fil-A’s first restaurant in Asia.

    In a turn of events, Cambodian magnate Chen Zhi was tricked by an executive from his own Singapore family office.

    The spotlight is now on the world’s largest creditor, a status that has become the focus of attention globally.

    The bodies of missing Russian cryptocurrency millionaire Roman Novak and his wife have been discovered in the Dubai desert.

    Over 230 individuals fell sick in Ho Chi Minh City due to suspected Salmonella poisoning from consuming banh mi.

    Confusion Over New Vietnamese Education Laws

    Parents in Vietnam are grappling with the recent introduction of fines for compelling children to study, leading to widespread confusion.

    In a tragic incident in northern Vietnam, a woman caused a fatal accident by obstructing the road to dry rice.

    Seven footballers who were naturalized in Malaysia are now seeking compensation from the Football Association of Malaysia (FAM) following a FIFA ban.

    Interestingly, a Vietnamese individual is found to consume 81 packs of instant noodles annually, surpassing Koreans.

    Thailand has issued a new law where daytime drinking could be penalized with a $300 fine.

    The U.S. Dollar and Vietnamese Dong

    The U.S. dollar has reached a one-month high against the Vietnamese dong. On a Tuesday morning, Vietcombank sold the greenback at a 0.05% higher rate, pegging it at VND26,373.

    However, on the black market, the dollar saw a 0.36% fall, trading at VND27,650.

    Globally, the yen, seen as a safe-haven, reached its lowest since February on the same Tuesday. Riskier currencies held firm against the dollar, as traders predicted an end to the U.S. government shutdown in the coming days.

    The euro maintained stability at $1.1555, while sterling gradually edged higher to $1.3165.

    A deal that would restore U.S. federal funding and conclude the longest shutdown was passed by the U.S. Senate late on Monday. It now awaits the approval of the House, where Speaker Mike Johnson has expressed his intent to pass it by Wednesday and forward it to President Donald Trump for his signature.

    Questions & Answers

    Who is the Singaporean that emerged victorious over 700 competitors to run Chick-fil-A’s first restaurant in Asia?
    Details about this individual are yet to be disclosed.

    What law has recently been introduced in Vietnam in relation to children’s education?
    A new law has been enacted in Vietnam that imposes fines on parents who force their children to study.

    What is the current situation of the U.S. dollar against the Vietnamese dong?
    The U.S. dollar recently hit a one-month high against the Vietnamese dong, being sold 0.05% higher at VND26,373 by Vietcombank. However, it experienced a 0.36% drop on the black market, being traded at VND27,650.

  • VN-Index Soars as Trading Activity Reaches Two-Week Peak

    VN-Index Soars as Trading Activity Reaches Two-Week Peak

    In an exciting turn of events for investors, Vietnam’s benchmark VN-Index soared by 1.26% to close at 1,283.26 points on Monday, marking the highest trading activity the market has seen in the last two weeks. The index rebounded 15.96 points after a dip in the previous session, signaling a renewed vigor among traders.

    Trading volumes on the Ho Chi Minh Stock Exchange saw a remarkable 25% uptick, reaching VND21.64 trillion (approximately US$833.4 million). This surge reflects a growing confidence in the market as investors gravitate towards promising opportunities.

    Among the standout performers, the VN-30 basket, which tracks the 30 largest stocks by market capitalization, saw an impressive 27 of its members gain ground. Techcombank (TCB) led the charge with a remarkable leap of 6.52%, while TPBank (TPB) and Vietnam Rubber Group (GVR) followed closely with increases of 4.98% and 4.88%, respectively. However, not all stocks sang the same tune; the Masan Group (MSN) slid by 1.27%, and steel manufacturer Hoa Phat Group (HPG) fell 0.97%.

    Despite the rally, foreign investors took a cautious stance, selling off over VND293 billion worth of stocks, predominantly involving Vietcombank (VCB) and HPG. In contrast, the HNX-Index—representing stocks on the Hanoi Stock Exchange—rose by 1.71%, and the UPCoM-Index for Unlisted Public Companies climbed a modest 0.2%. Clearly, the market is bouncing back, reminding everyone why we love the thrill of investing.

    Questions & Answers

    What drove the VN-Index’s surge on Monday?
    A wave of investor confidence, coupled with a significant increase in trading volume, sparked the VN-Index’s rise, showcasing a renewed interest in Vietnamese stocks.

    Which stocks performed the best?
    Techcombank (TCB) led the pack with a remarkable 6.52% increase, joined by TPBank (TPB) and Vietnam Rubber Group (GVR), which also made notable gains.

    Was there any negative activity in the market?
    Yes, foreign investors were net sellers, offloading over VND293 billion in shares, particularly focusing on Vietcombank (VCB) and Hoa Phat Group (HPG).

  • ZTE provides wireless coverage to the second highest peak in the world

    ZTE provides wireless coverage to the second highest peak in the world

    ZTE Corporation, a major international provider of telecommunications, enterprise and consumer technology solutions for the mobile internet, together with a local operator in Pakistan, has built a base station and completed several kilometers of wireless coverage around the station at the K2 base camp for the world’s second-highest peak on the border between China and Pakistan, with the aim of building a strong communication network for climbers.

    The altitude of K2, the second-highest peak in the world after Mount Qomolangma, is 8611 meters. It’s about 200 kilometers from the villages at the foot of the mountain in northern Pakistan to the K2 base camp. On the way to the K2 base camp, the mountain is steep and the environment is harsh. Compared with Mount Qomolangma, its difficulty and risk for climbers are higher and more challenging. It is one of the most popular peaks that climbers hope to conquer. However, there was no signal coverage along the K2 before April 2020, so it was very difficult for climbers to communicate in case of an emergency. The death rate of the climbers, who trek toward the K2’s summit, is as high as 25%.

    In order to fill the signal gap along the climbing route of K2, ZTE assisted the local operator in completing the construction and provisioning of the base station at the K2 base camp with an altitude of 5100 meters before the peak climbing season in 2021, so as to provide 24×7 stable network services for climbers in the area.

    The signal strength, speed rate, effective coverage distance, and other technical indicators of the base station have reached the desired level, providing stable and high-speed communication experiences for climbers, and effectively guaranteeing high-quality communication and timely information transmission for climbers.

    Since the establishment, the base station has provided communication services for hundreds of climbers. ZTE and the local operator will continue to work together to ensure the communication quality of the station, so as to protect the life security of climbers in this harsh environment.

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  • Peak Philippines launches concept store

    Peak Philippines launches concept store

    After 10 years in the market, activewear brand Peak Philippines has opened its first concept store, at Robinsons Place Manila.

    Fuelled internationally with collaborations with such entities as the US National Basketball Association and world basketball governing body FIBA, the Chinese brand has widened its product offering to include training, running and women’s gear, all of which are featured in the new concept store.

    “As Peak is competing with the big brands, it is time to position ourselves,” says store owner Jonathan Chenglay, who also owns the Peak outlet store at Riverbanks Center in Marikina City.

    “Some of the items in the concept store you will not find in shopping malls carrying the Peak brand, like Gaisano, Robinsons and SM, or sports shops like Olympic Village and Toby’s.”

    To mark the opening of the store, Peak brought in NBA player and brand ambassador Matthew Dellavedova of the Milwaukee Bucks, who also promoted his first signature Peak shoes, the Delly 1. Featuring Peak’s latest technology in design and cushioning, it is available in different colors.

    Chenglay says more Peak concept stores will be added down the line. “There is definitely still room for expansion.”

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  • Planning for peak is a marathon not a sprint

    Planning for peak is a marathon not a sprint

    Peak 2016 seems a distant memory and you are now relaxing back into your normal routine until next Q3 when planning for 2017 peak can start afresh. But is this really the best approach? Waiting until peak is almost upon you could spell disaster for your stress levels. So why not start now?

    Planning for peak should be a marathon, not a sprint. Now is the perfect time to reflect on what did and didn’t work in 2016 and start putting plans in place to make 2017 peak the best yet. The steps below will help shape your peak planning; so instead of stumbling out of the blocks and falling at the first hurdle you’ll be able to set the pace to get you through the finish line as seamlessly as possible.

    Step one: what did you learn?

    Why not conduct a lessons learned session for the whole team. Why not evaluate what made peak 2016 such a success and of course, what didn’t. Think back to Q4 2016, how much did volume spike? Which items were most popular? Where did issues arise? Having this baseline will help to project anticipated volume in 2017 and will provide a better idea of potential problem areas in the system that should receive extra attention and testing.

    Step two: create a plan

    Once you have reviewed the do’s and don’ts from last year it is time to come up with an action plan for 2017. Do you need to re-evaluate staff training? Put new systems in place? Be more flexible with fulfilment? One key thing to remember about the plan is that it might change. Flexibility is a must have when it comes to conquering the unpredictability of omnichannel shopping, and poor planning will no longer be an acceptable scapegoat for inventory shortages. And remember, initiatives like ship from store can be your new best friend when it comes to keeping up with demand!

    Step three – review your resource and take action

    So you’ve analysed 2016 within an inch of its life and come up with a (flexible) action plan for 2017. Now you need to assemble the best team to execute it. Reviewing your current talent-pool and calling in new resource from other areas of the business could just be the shake-up you need. Just because it’s how you’ve always done it, doesn’t mean it can’t be done differently. Allocating additional or fresh resource to your peak planning working group has the potential to introduce new ideas and can also help to get the whole organisation on board.

    Step four: don’t underestimate the store, keep it connected

    Despite the year on year rise in online purchasing, brick-and-mortar stores remain the biggest revenue driver for retailers. But what will the store of the future look like? By the time peak 2017 comes around technology could be a huge driver for customers when it comes to which stores they visit, as they crave a seamless omni-channel experience. And, don’t underestimate the importance of returns! In-store returns of online purchases during peak, will always prove its worth by getting bodies into stores, which means opportunities for ‘upselling’ and impulse buying that just don’t exist online. Those who bear this in mind will thrive during peak, and those who don’t will come in a slow second.

    Step five: have a test run(s)

    If your distribution and order management systems includes software from various vendors, engage with those concerned and set up a test (or a series of tests) that simulates peak shopping times. If possible, plan to test the system several times throughout the year in the run up to the peak times. If you can start this testing now then you will be in a great position when it comes to Christmas preparations. In order to run your marathon at pace, you need to practice at pace!

    So now you have all the steps to get a head start on the race to peak 2017, don’t get left behind. Keep ahead of the game and by doing so, you’ll have the vision to steer towards a healthy growth and sustained performance for many peak seasons to come.

     

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  • Peak Sport first Chinese firm to release 3D sneakers

    Peak Sport first Chinese firm to release 3D sneakers

    Sports brand Peak has released its first 3D printed running shoes in Beijing, the first-ever Chinese firm to successfully launch the innovative sneakers.

    Dubbed ‘Future I’, the sneakers are being sold on local e-commerce platform Tmall for RMB1299 (US$188).

    The 3D printed running shoes are based on the most popular Peak FLY V, with 3D printed technology applied to achieve technological innovation. Promoting comfort and breathability, the shoes are made with a special lattice structure insole made via 3D technology.

    In a press release, Peak said its “SLS laser sintering technology shapes the shoes with the more elastic TPU, to ensure the lightness and flexibility… bringing an extraordinary and excellent wearing experience.”

    Peak brought in 3D printing technology in 2013, and over the past 5 years, the firm has used 3D printing technology to produce shoe molds to make 3D printed versions to create exclusive design for athletes such as NBA player Dwight Howard.

    This latest design feat crowns Peak’s design efforts, and harks a promising future in innovative sportswear.

    “This pair of 3D printed shoes is Peak’s latest outcome of Peak Innovation Strategy, our goal is to build Peak as the most international, professional and innovative sports brand in China,” said Zhihua Xu, general manger of Peak Sport.

    Peak owns five research and technology centres in Beijing, Guangzhou, Quanzhou, Xiamen and Los Angeles, with 200 staff across all campuses.

    Based on 3D printed technology, Peak’s ‘Longji’ running shoes were awarded first prize in the first China Industrial Design Competition.

    “In the future, Peak will insist on technological innovation research and release more professional sports products to meet the mass requirements, and become the leading sports brand,” added Zhihua Xu.

    Peak is the third sports brand to release and sell 3D printed running shoes after Adidas and Under Armour.

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