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  • Huawei takes US government to court

    Huawei takes US government to court

    Huawei lost its trade mark reticence when it announced yesterday that it is suing the US government for banning federal agencies from buying its products.

    The complaint filed in a U.S. federal court challenges the constitutionality of Section 889 of the 2019 National Defense Authorization Act (NDAA). Through this action, Huawei seeks a declaratory judgment that the restrictions targeting Huawei are unconstitutional, and a permanent injunction against these restrictions.

    From Huawei’s perspective, the NDAA restrictions prevent the company from providing more advanced 5G technologies to U.S. consumers, which will delay the commercial application of 5G, in turn, impeding efforts to improve the performance of 5G networks in the U.S.

    “The U.S. Congress has repeatedly failed to produce any evidence to support its restrictions on Huawei products. We are compelled to take this legal action as a proper and last resort,” Guo Ping, Huawei rotating chairman said in a press conference held yesterday at company’s Shenzhen campus.

    “This ban not only is unlawful, but also restricts Huawei from engaging in fair competition, ultimately harming U.S. consumers,” he said.

    The lawsuit was filed in a U.S. District Court in Plano, Texas. According to the complaint, Section 889 of the 2019 NDAA not only bars all U.S. Government agencies from buying Huawei equipment and services, but also bars them from contracting with or awarding grants or loans to third parties who buy Huawei equipment or services, without any executive or judicial process.

    The Chinese telecoms and IT equipment vender claims this violates the Bill of Attainder Clause and the Due Process Clause. The Huawei lawsuit also claims the violation of the Separation-of-Powers principles enshrined in the U.S. Constitution, because Congress is both making the law, and attempting to adjudicate and execute it.

    “Section 889 is based on numerous false, unproven, and untested propositions,’ said Song Liuping, Huawei’s chief legal officer.” Contrary to the statute’s premise, Huawei is not owned, controlled, or influenced by the Chinese government.”

    He added: “Moreover, Huawei has an excellent security record and program. No contrary evidence has been offered.”

    Citing industry sources, Huawei claims that allowing them to compete would reduce the cost of wireless infrastructure by between 15% and 40%. This would save North America at least US$20 billion over the next four years.

    “If this law is set aside, as it should be, Huawei can bring more advanced technologies to the United States and help it build the best 5G networks,” Guo Ping said. “Huawei is willing to address the U.S. Government’s security concerns. Lifting the NDAA ban will give the U.S. Government the flexibility it needs to work with Huawei and solve real security issues.”

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  • Major aviation deals inked as US, Vietnam presidents meet

    Major aviation deals inked as US, Vietnam presidents meet

    Three major aviation deals were signed Wednesday in the presence of Vietnamese and U.S. presidents Nguyen Phu Trong and Donald Trump. Budget airline Vietjet signed with U.S. airplane manufacturer Boeing Company a deal to buy 100 new narrow-body 737 MAX airplanes worth $12.7 billion, according to the manufacturer’s list prices.

    “The deal is an important move for us to meet our international flight network expansion plan with a higher capacity,” Vietjet president and CEO Nguyen Thi Phuong Thao said.

    Vietjet also finalised a $5.3 billion long-term engine support agreement with General Electric for the LEAP-1B engines in its fleet.

    New airline Bamboo Airways also inked a deal with Boeing for 10 wide-body 787-9 Dreamliners worth almost $3 billion.

    The carrier, owned by property and leisure company FLC Group, had placed a provisional order last year for 20 Boeing 787 jets worth $5.6 billion at list prices.

    The new deal brings the total number of Boeing 787 that Bamboo Airways has ordered to 30, worth total value of almost $8.6 billion. First aircraft are expected to be delivered in the third quarter of next year.

    Bamboo Airways is preparing to launch flights to the U.S. from late 2019 or early 2020, after Vietnam earlier this month received a Category 1 rating from the U.S, allowing local airlines to operate direct flights to the U.S.

    “Direct flights between the two countries will not only push tourism activities, but also further facilitate bilateral trade and investment,” FLC president Trinh Van Quyet said in a statement.

    Bamboo Airways is also considering the purchase of 25 narrow-body Boeing 737 MAX worth $2.5 billion, the statement said.

    Vietnam Airlines signed a $300-million for strategic partnership deal in aviation information technology with U.S.-based technology company Sabre Corporation.

    The deal is expected to help the state-owned Vietnamese airline increase IT applications in flight management and passenger service.

    Sabre has been cooperating with Vietnam airlines for over 20 years. Last year, they had signed a $400-million aviation technology application deal.

    Vietnam’s aviation sector has been booming in recent years. Local airlines served almost 50 million passengers last year, up 10.1 percent from 2017, according to the Civil Aviation Authority of Vietnam.

  • Hanoi businesses do brisk business with Trump-Kim summit specials

    Hanoi businesses do brisk business with Trump-Kim summit specials

    Several enterprising businesses have cashed in on the Trump-Kim summit with signature products – craft beer, cocktails, haircuts and T-shirts. A standing bar on Tran Vu Street has already gained a lot of attention with a craft beer named Kim Jong Ale, a kimchi flavored beverage concocted in Saigon.

    Huong Anh, who manages the bar, has waxed lyrical about the beer for the occasion. “Kim Jong Ale is a customers’ favorite here. The inspiration behind this beer is the pure streams of Mount Paektu, which is located between North Korea and China,” she told reporters.

    Yet another bar on Hang Than Street brought out a cocktail called “Make the world great again”, mixing soju, bourbon and Fireball Cinnamon Whisky, pineapple juice, vanilla and grenadine.A wine bar in the capital city has also helped itself to some publicity and increased business with a cocktail called “Peace Negroniations,” a variation of the classic Negroni, made with pink-grapefruit soju, vermouth and bitters. We replaced gin with soju for this special cocktail,” bartender Chau said.

    It took two days to complete this recipe, said Ngo Dinh Tien, a bartender.

    A pizzeria has been offering free pizzas to people with names similar to that of Kim Jong-un and Donald Trump, and to those sporting the distinctive haircuts of both leaders, from February 20-28.

    To get such haircuts, the place to go to is the one on De La Thanh Street that has been offering these for free. The salon is even organizing a contest for people getting such haircuts, with the grand prize being free haircuts for three years.

    A South Korean restaurant in the My Dinh area has hung a banner on their door, featuring Kim Jong-un and Donald Trump and welcoming the summit. The owner said the poster has attracted a lot of attention with many customers taking selfies with it.

    An Old Quarter restaurant has hogged some attention for itself with hamburgers named after the two leaders – “Durty Donald” and “Kim Jong Yum,” served with U.S. and North Korean flags.


    Perhaps the hottest summit item has been souvenir T-shirts. Truong Thanh Duc’s small shop on Hang Bong Street has been operating at full capacity, making 500 shirts a day with a design that says peace and carries pictures of both leaders. Each T-shirt costs less than $5


    .

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  • Singapore’s VeganBurg plans US expansion with franchising

    Singapore’s VeganBurg plans US expansion with franchising

    Singapore-based burger chain VeganBurg is seeking new franchisees to expand its business in California. The company will hold a franchising conference in Las Vegas next month, expected to be attended by many Californian companies and individuals evaluating franchise concepts. “VeganBurg has developed a passionate following from customers in Singapore and internationally and we have spent the last few years refining operations and investing in what has made VeganBurg a winner — our juicy burgers, fantastic staff, and world-class customer service,” said Alex Tan, VeganBurg CEO and founder.

    “We are interested in meeting enthusiastic and dedicated people who are passionate about the environment and impeccable people support,” he added.

    VeganBurg’s franchisees can be assured of support from pre-opening and training. An operations team will help new partners establish supplies of proprietary ingredients and products, assist with site selection and interior design, initial training and ongoing training support, product research and development, branding and marketing assets, systems, tools and processes.

    Founded in 2010, VeganBurg has been redefining food pop culture and comfort food in Asia and North America with its 100-per-cent plant-based menu.

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  • Asia markets rally as Trump delays China tariffs

    Asia markets rally as Trump delays China tariffs

    Shanghai led a rally across Asian markets Monday after Donald Trump said he would delay a hike in tariffs on Chinese goods citing “substantial progress” in trade talks and fuelling hopes of an end to their long-running stand-off. Optimism over the negotiations had already provided support to global equities, spurring a rally in January and February, but the president’s comments gave extra ammunition to investors to ramp up the buying.

    The news also fired currency markets with the yuan extending gains to a seven-month high, while other high-yielding, riskier units were also up against the dollar.

    Trump said on Twitter that the US “has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues”.

    He added: “As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1.”

    The president also said he planned to hold a summit with his Chinese counterpart Xi Jinping at his Mar-a-Lago estate in Florida to sign a deal.

    China’s Xinhua news agency added that the two sides had “made substantial progress on specific issues” including on transfer of technology, intellectual property and agriculture.

    ‘Sigh of relief’

    In morning trade, Shanghai jumped 2.8% and Hong Kong added 0.4% while Tokyo ended the morning 0.7% higher.

    Sydney and Singapore each put on 0.1%, while Seoul was flat, Taipei added 0.4% and Jakarta rose 0.3%.

    The gains in Asia followed another positive lead from Wall Street, where the Dow enjoyed its ninth straight weekly gain – the longest streak since May 1995.

    “This is a sigh of relief,“ said Ben Emons, managing director for global macro strategy at Medley Global Advisors. “Markets will still keep a level of caution, but this news is encouraging,“ he said.

    The upbeat sentiment lifted high-risk currencies, with the yuan hitting its highest level against the dollar since July, while South Korea’s won, the Australian dollar and the Indonesia rupiah were also well up.

    Forex traders will be closely watching speeches this week from top Federal Reserve officials – including chairman Jerome Powell’s appearance in front of lawmakers – hoping for clues about the bank’s monetary policy plans.

    Wall Street “will be looking for soothing comments about the future size of the balance sheet – the bigger the better – and insights into future rate hikes”, said Jeffrey Halley, senior market analyst at OANDA.

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  • 6 Tips and Tricks to Boost your eCommerce Business

    6 Tips and Tricks to Boost your eCommerce Business

    We have heard it all before, eCommerce is the future of retail sales. In 2018 the worldwide online retail sales amounted to 2.84 trillion US dollars. By 2021, the market will evolve to 4.88 trillion US dollars in worldwide online retail sales. This is a growth rate of 72% in just three years!

    The big question now is, how can you be a part of this exponential growth and enjoy a piece of the cake? There are many different alternatives to exploit eCommerce sales. One is to sell through established marketplaces like Amazon, eBay and Walmart; the other option is to build your own eCommerce store. It is even possible to do both at the same time, thereby creating a truly omnichannel experience.

    Whatever online sales channels you pursue, one thing is clear – the eCommerce industry is marked by growth, also in terms of buyers. In 2017, 21.8% of the world’s population made an online purchase. By 2021 this figure is projected to increase to 28.2%. As more people buy online, there will be more businesses that will move their retail stores online. This will foster a competitive environment, where only the best will survive.

    To boost your eCommerce business and maintain a strong market position, there are a range of tips and tricks that can be applied. These will pave the way for success!

    Source the RIGHT products

    As you might assume, the specific products you sell have an effect on your sales. But how do you know which products to source in the first place?

    Well, products that are high in demand, low in competition and sell at a profitable margin. Of course, this is easier said than done. In fact, such analyses require in-depth product market research. However, manual estimations of product sales data are subject to human error and will require extensive effort.

    However, there is a solution to this problem! Product market research BI platforms like Algopix provide actionable data that sellers can leverage to identify the RIGHT products to sell. Algopix shows product specific profit analyses, demand levels, sales performances, average seller ratings, number of competitive offerings, keyword insights and product details.

    The platform services 16 international Amazon, eBay and Walmart marketplaces. This data can be exploited to either develop smart sales strategies in established marketplaces or get insights needed to build your own eCommerce store.

    The success of your eCommerce business starts with sourcing the RIGHT products: They are the foundation of your business and should be selected with careful consideration. Making use of BI platforms like Algopix will significantly improve your ability to source high demand and margin products that are low in competition. Naturally, your products will sell better.

    Generate high-quality traffic

    It is a number one priority to generate traffic! If there is no traffic to your online store, nobody will look at your products and your sales will be low or even close to zero.

    However, increased traffic is not enough! If the traffic to your website is not relevant to the offered product or service, customers will likely not engage on the website (i.e. sign-up, subscribe, etc.). The quality of the traffic also plays a critical role and companies should aim to concentrate their marketing efforts on targeted customer groups.

    So, how do you stimulate traffic and get buyers to your online store? The best ways to do this is to exploit a range of different marketing channels and improve SEO.

    The list of different marketing channels is long. Companies can make use of paid advertising, email campaigns, social media coverage, affiliate programs, influencer marketing and content creation (e.g. guest blogs). By harnessing these channels, online store owners can target specific audiences and draw them to their website. Of course, the importance of these channels depends on unique business needs.

    Marketing channels are not the only ways to attract buyers. In fact, 70%-80% of Google users are solely focused on organic search results. This shows that SEO is the most important factor in generating traffic. To position your company perfectly and allow your target audience to navigate to your online store easily, SEO is critical but not easy to master. In fact, SEO should be handled by professionals to promote an online store through effective channels, thereby organically navigating buyers to the online store.

    Content is king

    The content of an online store plays a fundamental role in customer acquisition and retention. The most important factor is that the content is targeted to the right audience and is relevant to them. Next to the written content, visual content is nearly as important and of course, should also be in high resolutions. Why should anybody buy a product that is not clearly described or displayed?

    To create exceptional content on your website, there are a couple of tips and tricks that can be applied. First, it is vital to have convincing landing pages! The first impression of a customer on your online store often determines if you are able to convert him or not. Also, good landing pages will lower your bounce rate and keep customers engaged, moving them down the sales funnel. It is also important to note that convincing landing pages will need to have effective Call to Action (CTA) buttons. Especially the UI and UX are critical for driving conversions.

    Another tip is to make use of videos to explain a complex service to customers. They don’t want to read long texts and be bothered by minor details. Instead, make a short video explaining the value of your product or service that can be accessed fast and understood easily.

    Businesses or online stores that have a blog are more likely to generate traffic towards their website. In fact, these companies will have improved SEO because Blog posts on selected topics will likely have high rankings in search results. It is also an excellent way to engage readers and inform them about news, developments or any other topic of interest.

    Foster trust among your customers

    Trust is one of the biggest hurdles in eCommerce. Due to the fact that online retail businesses find it hard to replicate an in-store customer experience, they have to convince their buyers in different ways.

    One such way is through customer reviews and testimonials: Inside knowledge on a product or service is valuable and a key decision maker in online purchases. According to a study, 77% of shoppers take the time to read product reviews before they make any purchases online. This shows that reviews and testimonials will make or break your online business. To avoid any negative reviews, make sure to offer exceptional customer service.

    This includes being available on phone, email and chat for any inquiries, no matter how superficial they are. Customers want immediate service as well. The longer you keep them waiting, the more likely they will feel irrelevant. In contrast, if you reply fast, customers will remember the outstanding experience they had and the capable company they were buying from.

    Good customer service can also be expressed by offering a free return policy and free shipping. These are like unspoken rules of eCommerce. In fact, 9 out of 10 customers say that free shipping is the top incentive to shop online. Return policies have a similar effect because it reduces the risk for the buyer. If the product does not fit or is broken, it can simply be returned at the expense of the seller.

    There are also other ways to signal trust to your customer base. One of them is to work with established brands and integrate them. For example, offering payment services such as PayPal signals to the buyer that there is a secure payment channel. This will improve your brand reputation because you have trusted companies in your ecosystem which customers probably have already had contact with. Similarly, quality badges or rewards from reputable institutions or organizations will signal trust.

    Drive conversions

    The average conversion rate for eCommerce websites is 2.86%, which is close to nothing! To get a different view, 97.14% of the customers visiting your landing page do not subscribe to the newsletter, do not sign-up and will not make a purchase. This shows how hard it is to move customers through the sales funnel and convert them. There are some tips and tricks though…

    Discounts are a great way to incentivize conversions. Everybody likes to shop at reduced prices and customers are willing to search for the best deal that they can find out there. 88% of online buyers compare different marketplaces and online stores to find the offer with the best price. Hence, discounts attract buyers and drive sales.

    Another effective way to drive conversions is to create a sense of urgency on your landing pages and website. A good example would be a discount that is restricted in time (e.g. get 30% discounts if you buy in the next hour). Subconsciously, this influences buyers to engage and convert quickly.

    The UX and UI of a landing page or website are also important to encourage conversions. Customers should not have to search for CTA buttons and the whole experience should be effortless. This will allow customers to navigate your online store intuitively and keep engaged until conversion. UX and UI are also not tasks that can be delivered in perfection. It is important to objectively evaluate the performance of different landing pages, CTA buttons and illustrations based on A/B testing. Only this will reliably show how effective they are and what preferences your customers have.

    Frictionless checkout process

    The checkout process or shopping cart on your website is the last step before completing a purchase. Buyers have come all the way through the sales funnel and are now finally ready to make a purchase! Or are they…? A study by the Baymard Institute shows that 27% of customers leave the customer checkout process because it is too long and complex.

    You, as an online seller, do not want to lose those sales! To avoid this, make your checkout process as smooth as possible. Most important is reducing the number of stages in the checkout process to the bare minimum. Get rid of anything that seems unnecessary, as it only annoys customers.

    To make this possible, online businesses will have to include the option to checkout without signing-up. Just enable them to make a purchase as a guest user. It will likely take customers 2-3 minutes to sign-up and they will feel unnecessary commitment. Therefore, enable the option to checkout directly and fast as a guest.

    Lastly, a progress bar in the checkout can be extremely helpful because it shows the buyer progress. It comes naturally that he will be less likely to abandon the shopping cart if he has already completed 80% of it. These are small details that can make a big difference in purchasing decisions.

    eCommerce success is not a piece of cake

    These six tips and tricks will boost your eCommerce business and empower your success. Of course, there are also other recommendations, but these are the most valuable ones along the sourcing and buying process. They often intersect and are dependent on each other, because online sellers need to create a completely integrated and fluid sales process that runs smoothly. To achieve this, sellers will most likely have to facilitate technology and BI as well. It is a journey and there is competition, but don’t forget: The market is huge and the opportunities are endless. Therefore, your effort will be rewarded!

    Company Description:

    Algopix is a comprehensive product market research platform that provides essential data to analyze market demand, possible margins and shipping costs for current and future inventory.

    By providing rapid actionable product insights, Algopix helps sellers save time on manual research, increase sales volume and reduce risks of buying low-demand or low margin inventory.

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  • US opens doors to Vietnamese mango after years of attempt

    US opens doors to Vietnamese mango after years of attempt

    The US’s Animal and Plant Health Inspection Service has given the green light for the import of mangoes from Vietnam. The license comes exactly 10 years after Vietnam applied for it. To export fresh mangoes to the U.S., farmers and business will need to meet stringent standards. APHIS will inspect each shipment thoroughly before granting phytosanitary certificates.

    Mango is Vietnam’s sixth fresh fruit licensed to be imported into the U.S. after dragon fruit, rambutan, longan, lychee, and star apple fruit.

    Some 96 percent of Vietnam’s mango production is consumed domestically, with the rest exported currently to 40 countries either as fresh fruit or in processed form.

    The main market is China. The other important ones are Europe, South Korea, Japan, Australia, and New Zealand.

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  • Ermenegildo Zegna Opens its Global Flagship Store in New York City

    Ermenegildo Zegna Opens its Global Flagship Store in New York City

    Italian luxury firm Ermenegildo Zegna has launched a new global store in New York. The new three-level 660sqm boutique, designed by prominent architect Peter Marino, is a luxury retail space with a facade composed of metallic threads. The store features a personalisation room on the third floor, offering high-end bespoke clothing fitted by a master tailor.

    A selection of fine leather footwear and other goods, couture collections and sneakers, and luxury leisurewear are also among product lines on sale in store.

    Exclusive to the New York global store is the newly released Taccuino capsule collection, featuring leatherwear goods inspired by Ermenegildo Zegna’s personal notebook and fine calligraphy.

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  • Samsung US stores opens door

    Samsung US stores opens door

    South Korea’s Samsung will launch the first three of a planned network of North American stores this coming week, timed to coincide with the expected release of its next-generation Galaxy smartphone. The smartphone-focused Samsung US stores will open in the Roosevelt Field mall in Garden City; the Americana at Brand in Los Angeles; and Galleria in Houston. The openings have been interpreted as a branding exercise more than a sales driver by some industry experts, given the predominance of Apple iPhones in America. Samsung currently has 24 per cent of the US market, as opposed to Apple’s 44 per cent, with both manufacturers selling most of their handsets through carrier-operated stores.

    “Our new Samsung Experience Stores are spaces to experience and see Samsung technology brought to life, to empower people to do what they never thought was possible before”, said president and CEO of Samsung Electronics America YH Eom.

    “We want to build a ‘playground’ for Samsung fans – a place to learn about and try out all of the amazing new products we have to offer.”

    The Samsung US stores will encourage visitors to linger in-store while experimenting with the brand’s 4D VR and immersive 4K gaming products.

    Samsung’s Galaxy Unpacked 2019 presentation, scheduled for San Francisco on Wednesday, is widely rumoured to serve as a launchpad for a new foldable phone.

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  • U.S. agency submits auto tariff probe report to White House

    U.S. agency submits auto tariff probe report to White House

    The U.S. Commerce Department sent a report on Sunday to U.S. President Donald Trump that could unleash steep tariffs on imported cars and auto parts, provoking a sharp backlash from the industry even before it is unveiled, the agency confirmed. Late on Sunday, a department spokeswoman said it would not disclose any details of the “Section 232” national security report submitted to Trump by Commerce Secretary Wilbur Ross. The disclosure of the submission came less than two hours before the end of a 270-day deadline.

    Trump has 90 days to decide whether to act upon the recommendations, which auto industry officials expect to include at least some tariffs on fully assembled vehicles or on technologies and components related to electric, automated, connected and shared vehicles.

    As the White House received the report, the industry unleashed what is expected to be a massive lobbying campaign against it.

    The industry has warned that feared tariffs of up to 25 percent on millions of imported cars and parts would add thousands of dollars to vehicle costs and potentially lead to hundreds of thousands of job losses throughout the U.S. economy.

    The Motor and Equipment Manufacturers Association, which represents auto parts suppliers, warned that tariffs will shrink investment in the United States at a time when the auto industry is already reeling from declining sales, Trump’s tariffs on steel and aluminum, and tariffs on auto parts from China.

    “These tariffs, if applied, could move the development and implementation of new automotive technologies offshore, leaving America behind,” it said in a statement. “Not a single company in the domestic auto industry requested this investigation.”

    The Commerce Department started its investigation in May 2018 at Trump’s request. Known as a Section 232 investigation, its purpose was to determine the effects of imports on national security and it had to be completed by Sunday.

    Automakers and parts suppliers are anticipating its recommendation options will include broad tariffs of up to 20 percent to 25 percent on assembled cars and parts, or narrower tariffs targeting components and technologies related to new energy cars, autonomous, internet-connected and shared vehicles.

    The Commerce Department alluded to a focus on emerging vehicle technologies when it opened the investigation.

    Administration officials have said tariff threats on autos are a way to win concessions from Japan and the EU. Last year, Trump agreed not to impose tariffs as long as talks with the two trading partners were proceeding in a productive manner.

    Trump said on Friday that tariffs protect industry and also help win trade agreements.

    “I love tariffs, but I also love them to negotiate,” he said.

    A report from the Center for Automotive Research in Ann Arbor, Michigan, published on Friday showed its worst-case scenario of a tariff of 25 percent would cost 366,900 U.S. jobs in the auto and related industries.

    U.S. light duty vehicle prices would increase by $2,750 on average, including U.S.-built vehicles, reducing annual U.S. sales by 1.3 million units and forcing many consumers to the used car market, the think tank’s report said.

    Major automaker groups said last year the cumulative effect for the United States would be an $83 billion annual price increase and argued there was no evidence auto imports posed a national security risk.

    Canada and Mexico each won duty-free access to 2.6 million vehicles as part of a new North American free trade deal even if the administration moves ahead with the tariffs.

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  • Alibaba Says China’s Slowdown Isn’t Hurting It All That Much

    Alibaba Says China’s Slowdown Isn’t Hurting It All That Much

    Alibaba Group VC Joseph Tsai says the firm is unperturbed by China’s economic slowdown. Quoted in a Bloomberg report, Tsai said Alibaba is “delinked” from a Chinese economy in which more and more business are moving online because “we’re in e-commerce and we’re digitising the whole sector”.

    He added that Alibaba’s growth is expected to continue to outpace the economy in general, as digital commerce grows at faster rates compared with more traditional retail business.

    The comments were made at the Goldman Sachs Group technology conference in San Francisco.

    According to the Bloomberg article, China’s economy expanded 6.4 per cent in the final three months of last year compared with a year earlier. Alibaba’s takings during the period rose 41 per cent to RMB117.3 billion (US$17.3 billion), representing its slowest pace of growth in more than two years. Its continued positive performance is buoyed by excursions into new business territories such as cloud services and entertainment, while assisting physical retailers with modernisation drives.

    According to the Alibaba Group VC, the situation is comparable to Amazon’s in terms of its consistent double-digit sales growth in the face of slowing economic growth within the US.

  • Tissot basketball concept store New York opens door

    Tissot basketball concept store New York opens door

    Swiss watch brand Tissot has opened a sports-themed store in New York City. The Tissot basketball concept store is the brand’s fourth boutique in the city, located at 112 W. 34th Street, a prime location in the Midtown neighbourhood. With a 2800sqft area, the boutique has a wall of multi-coloured basketballs, along with action-styled mannequins wearing uniforms of some of the brand’s nine NBA team partners.

    Hung on the walls are photos of the brand’s sponsored athletes, including three-time NBA Champion and five-time NBA All-Star Klay Thompson, four-time NBA Champion and six-time NBA All-Star Tony Parker and top rookie Trae Young.

    Besides shopping, fans can spend their time playing NBA 2K19, watch an NBA game on the large TV screens or try to beat the clock in a mixed-reality Tissot Buzzer Beater game set to debut at NBA All-Star 2019. A custom art installation debuting at NBA All-Star will then find its permanent home in the store.

    “This is a departure from our traditional merchandising strategy, but with our continued partnership growth and passion around the NBA, we wanted to harness that power to showcase our brand in a different light,” said Francois Thiebaud, president of Tissot.

    “We have seen a tremendous response so far from fans and we are excited to see what is to come.”

  • Guess announces new CEO

    Guess announces new CEO

    Iconic American fashion brand Guess Inc. announced that its chief executive officer and director, Victor Herrero, is leaving the company effective February 2, 2019. Carlos Alberini, who served as Guess’s president and chief operating officer more than ten years ago, will replace Herrero.

    “On behalf of the Board of Directors, I want to thank Victor for his contributions during his tenure and wish him well in his endeavors,” said Maurice Marciano, chairman of the board.

    Alberini has been appointed as the new CEO and a Director of the company, “effective upon his separation from his current employer,” said Guess in a press release detailing the new hire on January 28.

    Alberini served as COO for the Californian company from 2000 to 2010. He was co-CEO of Restoration Hardware until 2014, and a director on the board of Restoration Hardware from 2010 until present.

    More recently, Alberini has been the Chairman and CEO of Lucky Brand, a role he took on from 2014.

    “I am very excited to have Carlos coming back as CEO at Guess. He was instrumental in building the international business in Europe and Asia during his 10-year tenure with the company,” said Maurice Marciano.

    The company also announced that Marciano has agreed to remain as Chief Creative Officer. His employment will be “at will”, according to Guess.
    During the transition, Marciano will be acting as interim Chief Executive Officer.

    In 2017-2018 financial year, Guess witnessed a steady growth track in Asia, notably in China.

    In March last year, the brand said it planned to open 60 stores in Asia, after also opening its first subsidiary in Singapore.

    In same financial year, the group said it improved its gross margin in Asia by 470 base points, with sales up 40 percent.

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  • Malaysian banks to maintain earnings potential this year

    Malaysian banks to maintain earnings potential this year

    Analysts believe that the banking sector will be able to maintain its earnings potential this year, as margin pressure is expected to ease and continued loans growth with stable asset quality. MIDF Research said while the industry’s loans growth moderated to 5.6% year-on-year (y-o-y) as at December 2018 due to moderation in business loans and loans for the purchase of residential properties, the growth was still slightly above its expectations.

    “As for CY19, we expect a moderation in loans growth to 4.7% y-o-y due to the high base effect. We also believe that deposits growth will moderate to 5.3% y-o-y due to lower growth in fixed deposits growth this year,” the research house said in a note.

    “This also means that there will be accretion in value for banks’ book value. Hence, we maintain our ‘positive’ view on the sector,” it added.

    Overall, MIDF Research said it is cautiously optimistic of the banking sector continuing its solid performance in 2019.

    Given the current market conditions, the research house said its top picks for the sector are Maybank, CIMB and Public Bank.

    In a separate note, AmBank Research said it expects that the foreign fund inflows into emerging markets would benefit the share prices of the liquid banking stocks as the US Fed rate hike is tapering off.

    Therefore, the research house said it maintained its “overweight” stance for the sector with “buy” calls on RHB Bank, Public Bank, Alliance Bank, BIMB Holdings, Maybank as well as MBSB. Its tops picks include Maybank, Public and RHB Bank.

    AmBank Research noted that Maybank’s earnings are well diversified and the bank is still recording positive JAWs (a technical term that denotes income growth exceeding that of expenses) with growth in total income outpacing expenses.

    It added that Maybank’s net interest margins could also improve further ahead with the lowering of its funding cost as the group releases the excess liquidity built-up in the first half of financial year 2018 (1HFY18).

    “Meanwhile, dividend yield for the stock continues to be attractive relative to peers with its high payout ratio while potentially offering investors higher returns with the reinvestment of their dividends into additional shares under the DRS (dividend reinvestment scheme),” it added.

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  • DHL Expands Green Fleet With New Electric Delivery Vans

    DHL Expands Green Fleet With New Electric Delivery Vans

    DHL Express is rolling out a new fleet of 63 electric delivery vans in the United States as part of the German company’s goal to reduce logistics-related emissions to zero by 2050. Thirty battery-powered NGEN-1000 vehicles from Workhorse Group will be deployed in San Francisco with the remainder in other unspecified markets around the country later this year.

    The new vehicles have a range of 100 miles and 1,008 cubic feet of cargo capacity.

    DHL said its delivery fleet in the United States already includes electric, hybrid-electric, compressed natural gas and clean diesel-powered vehicles. The company has set a target of operating 70% of first- and last-mile delivery services with what it considers “clean transport” modes by 2025.

    “This year alone, nearly 30% of our new vehicles will be alternative fuel,” said Greg Hewitt, CEO of DHL Express U.S. in Plantation, Fla. “We’re excited about the technologies that continue to emerge in this area and how they are benefiting the logistics industry.”

    Workhorse Group launched commercial production of the NGEN-1000 and three smaller-capacity electric cargo vans in October 2018.

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