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1. RBL becomes first private sector bank to open dedicated branch for startups.
The RBL Bank (formerly Ratnakar Bank) became the first private sector bank in India to open dedicated branch for startups.The dedicated branch was inaugurated at Koramangala, Bengaluru by Nandan Nilekani, noted entrepreneur and former chairman of UIDAI.The first exclusive bank branch for start-ups will offer a bouquet of banking products to service the end-to-end needs of the emerging entrepreneurial eco-system.The branch will assist entrepreneurs in setting up new enterprises or companies.It will offer them host of banking products including, foreign exchange services, remittances and cash management. The Branch will also provide a range of value added services including legal and tax formalities, registration etc. through its affiliates and partners.
2. India overtakes China as top FDI destination in 2015: FDI Intelligence Report
India has replaced China as top destination for foreign direct investment by attracting $63 billion worth FDI projects in 2015, says a report.According to FDI Intelligence, a division of The Financial Times Ltd. – “India was the highest ranked country by capital investment in 2015, with $63 billion-worth of FDI projects.There was an 8 per cent increase in project numbers to 697. The boost in FDI has resulted in a whopping increase in job creation from nearly 1 lakh in 2013 to over 2 lakh jobs in 2015.These high-value projects were specifically announced across the coal, oil and natural gas and renewable energy sectors India has replaced China as the top destination for FDI by capital investment following of high-value project announcements.
Note:Greenfield FDI inflow in India and China was followed by Indonesia ($38.5 billion), Mexico ($24.3 billion) and Brazil($17.3 billion).Top FDI State in India – Gujarat was on top which had attracted $12.4 billion.Maharashtra was second attracting $8.3 billion respectively in 2015.
3. PNB becomes top mobiliser under Gold Monetisation Scheme.
State-owned Punjab National Bank today said it has become the top mobiliser under Gold Monetisation Scheme, which was launched by Prime Minister Narendra Modi in November 2015.The bank has mobilised substantial gold deposit under Short Gold Bank Term Deposit (STGBD) for three years from one of the leading trusts of India – Tirumula Tirupati Devasthanam, Tirpuati (TTD), PNB said in a statement.The bank has mobilised 1,311 kg of gold since the launch of the scheme in November. It would continue to work actively for mobilization of gold deposit under GMS, it added.
Note:Under the GMS, banks are authorised to collect gold for up to 15 years to auction them off or lend to jewellers from time to time.Depositors will earn up to 2.50 per cent interest per annum, a rate lower than bank deposits.
GMS operates under three categories,
Short-term deposit (for one to three years with a rollout in multiples of one year),Medium term deposit (for five to seven years) andLong term deposit (for 12 to 15 years).
4. Govt. lowers EPF rate to 8.7% from 8.8% for FY16
The finance ministry has announced an interest rate of 8.7% for the subscribers of employees’ provident fund (EPF) for 2015-16, 10 percentage points lower than the rate prescribed by the EPF Organisation’s Central Board of Trustees (CBT).The CBT, at its meeting held in February 2016, had proposed an interim rate of interest at 8.8% to be credited to the accounts of EPF subscribers for 2015-16. The ministry of finance has, however, ratified an interest rate to 8.7%.This is probably the first time that the finance ministry has not given concurrence to the rate of interest on EPF as decided by CBT, which is headed by the labour minister.
5. Mahindra & Mahindra becomes first Indian company to join EP100 campaign
Automobile giant Mahindra & Mahindra has become the first Indian company to join a global energy campaign led by an international non-profit group that will work with the world’s most influential businesses in setting commitments to double their energy productivity.By signing up to ‘EP100’ campaign led by ‘The Climate Group‘, the world’s largest manufacturer of tractors has committed to doubling their energy productivity by 2030, a core requirement for any business signing on to the campaign.
6. Goldman Sachs launches online-only bank for the masses
Goldman Sachs has officially launched an online bank aimed at households and small businesses as it expands from its Wall Street base and aims for the masses.The online-only GS Bank permits consumers to open an account for as little as USD 1, a big shift for a financial powerhouse that has built itself around serving billionaires and giant companies undertaking mega-mergers.The move comes on the heels of Goldman’s acquisition of GE Capital’s online deposit platform, after which it assumed about USD 16 billion of deposits from some 145,000 customers.Goldman is offering savers a relatively robust interest rate of 1.05 per cent, much higher than the 0.01 per cent now available at JPMorgan Chase and other retail banks.Goldman Sachs is also offering a five-year certificate of deposit at 2.0 per cent, also much higher than the going rates at other large banks.
7. Govt. hikes minimum wage for contract workers to Rs 10,000
The minimum wage for contract workers has been increased to Rs 10,000 per month, Union minister Bandaru Dattatreya said on Monday.The minister of state for labour and employment informed Lok Sabha that the wage hike has been implemented based on a Supreme Court verdict.”Recently, we have increased minimum wage to Rs 10,000 at the national level taking into consideration the Consumer Price Index and Dearness Allowance. This was based on the verdict of the Supreme Court.
8. India, France launch $1 trillion potential solar programme for developing countries
India and France have launched a programme with $1 trillion potential to help developing countries harness fully their solar resources for a clean energy future to meet the “biggest challenge humanity has ever faced”.Power Minister Piyush Goyal and French Environment Minister Segolene Royal announced the solar finance programme that aims to lower the cost of finance and facilitate the flow of more than $1 trillion investment to members of the International Solar Alliance (ISA).A second programme they launched at the ISA meeting held during the signing ceremonies for the Paris Climate Change Agreement here aims to make available solar technology for farmers.The meeting was attended by representatives of over 25 countries including the US, Brazil, Bangladesh and Nigeria.
Note:The ISA, which was launched at the Paris Climate Change Summit last yearby Prime Minister Narendra Modi and French President Francois Hollande, seeks to empower solar-rich countries located between the tropic of Cancer and the tropic of Capricorn, many of which have at least 300 days of sunshine, and share common challenges and opportunities.During Hollande’s visit to India in January, the two leaders laid the foundation stone for the ISA headquarters in Gurgaon.
9. India ratifies WTO agreement to boost global economic integration
India has ratified the World Trade Organisation’s (WTO) Trade Facilitation Agreement (TFA), which could further “its integration into the global economy” by boosting trade through efficient movement of goods.India’s Permanent Representative to the WTO, Anjali Prasad, formally presented the instrument of acceptance ratifying the agreement to WTO Director General Roberto Azevedo on Friday in Geneva.
Note:India is the 76th WTO member to accept the TFA, which will enter into force once two-thirds of WTO 162 members formally accepted the Agreement.The TFA was agreed upon at the WTO Ministerial Conference in Bali in 2013.The agreement aims at – expediting the movement and clearance of goods, including goods in transit and establishing effective cooperation between customs and other authorities on trade facilitation and customs compliance issues.The implementation of the TFA has the potential to increase global merchandise exports by up to $1 trillion per year, according to the WTO’s 2015 flagship World Trade Report.
10. India’s first small finance bank starts operation
Capital Small Finance Bank, India’s first small finance bank starts operation on 24th April 2016. It opened 10 new branches in Punjab.It is among the 10 entities that were given the in-principle approval by RBI to set up small finance banks.
Key points –
Sarvjit Singh Samra is a Managing Director of Capital Small Finance Bank.The Jalandhar-headquartered bank had been operating as Capital Local Area Bank since January 2000It had been operating with 47 branches in five districts of Punjab.In the current financial year, the bank would consolidate its business in Punjab by adding 29 branchesOut of this, 10 were opened on 24thApril 2016
Note:RBI on September 15, 2015 grants in-principle approval to 10 Small Banks’ applicants.8 out of 10 companies are Micro Finance Institutions (MFIs) with established track records and significant presence among small borrowers. The selected Applicants are as follows:
(i) Au Financiers (India) Limited,
(ii) Capital Local Area Bank Limited,
(iii) Disha Microfin Private Limited,
(iv) Equitas Holdings P Limited,
(v) ESAF Microfinance and Investments Private Limited,
(vi) Janalakshmi Financial Services Private Limited,
(vii) RGVN (North East) Microfinance Limited,
(viii) Suryoday Micro Finance Private Limited,
(ix) Ujjivan Financial Services Private Limited and
(x) Utkarsh Micro Finance Private Limited.
Major Key points on Small Banks –The small bank shall be registered as a public limited company under theCompanies Act, 2013.The minimum paid-up capital requirement for small banks is Rs. 100 crore.The in-principle approval granted by RBI will be valid for a period of 18 months.As per the guidelines, the promoters’ initial minimum contribution will be at least 40 % of the minimum capital, to be locked in for a period of 5 years.Small banks will offer both deposits as well as loan products.They cannot set up subsidiaries to undertake non-banking financial services activities.The maximum loan size and investment limit exposure to single/group borrowers/issuers would be restricted to 15 percent of total capital funds.Loans and advances of up to Rs 25 lakhs, primarily to micro enterprises, should constitute at least 50 percent of the loan portfolio.
11. Punjab and Sind Bank has revised rate of interest on select domestic term deposits.
The Bank has revised the interest rate on domestic term deposits of less than Rs. 1 crores wit different maturity periods with effect from 28 April,2016.The interest rate on deposits has been reduced from to 7.80 % to 7.55 %. On deposits for more than two years and less than three years has been reduced from 7.5% to 7.30%.
12.Nandan Nilkeni Invests in Rail Yatri.
Co Founder of Infosys Mr. Nandan has invested an undisclosed amount in Train Travel app Railyatri.in .
13.Transportation app Ola will expand its micro services to 48 newer cities.
14.Foreign Direct Investment into India has increased 37% after the launch of Make In India.
15.DBS Bank, which is Singapore’s largest Bank has unveiled Digibank , India’s first-only bank,targeting five Million Retail customers.The Bank has said that customer authentication will be done by Aadhaar card only.There will be no paper work involved in the process.
16.Japanese Commercial Vehicle maker ISUZU Motors opened its first manufacturing facility in India at Sricity,Andhra Pradesh.The Production capacity of the plant is 50000 units per year.This will be scaled to 1,20,000 units per year.
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Myer stays in Fremantle
Myer boss Bernie Brookes says the country's biggest department store retailer is committed to its Fremantle store "at this stage", after visiting the port city to discuss redevelopment plans for the outdated shopping precinct.
Speaking after Myer posted a 3.6 per cent fall in full-year profit to $163 million yesterday, Mr Brookes sought to reassure Fremantle shoppers that the retailer was not planning to end its 39-year association with the city.
Myer's lease on its Fremantle store expires in six months and the company is weighing up its options for the site amid falling sales.
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Air Asia Does It Again, Gives One Way Air Tickets For As Low As Rs 699 As Part Of Its 'Big Sale'
Now, Air Asia has launched a week long sale on its entire flight network. One-way tickets are being given away at Rs 699 and this includes taxes. Yes, you read it right the ticket will cost you Just Rs 699 inclusive of taxes. People can pick these tickets on sectors such as
Over the domestic deal, the sale also includes some exciting overseas tickets. Indians can fly to
These are not bad deals at all. It will be interesting if Indigo and Spicejet give some exclusive offers as well, like they have done in the past. The Indian aviation sector is on fire and customers are in the driving rather flying seat.
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Dong Tao, the chief economist for Asia excluding Japan at Credit Suisse in Hong Kong, said the purchasing managers’ index for December, released by the China Federation of Logistics and Purchasing on Saturday, backs the view that the mainland economy peaked in the third quarter of last year.
Consumption is holding up — at least for now — while investment and exports have already slowed, signaling the looming slowdown, Tao said.
He said the recent round of increases in bank’s reserve requirement ratios, interest rates hikes and tighter controls over bank lending in December had been effective in instilling a more cautious sentiment among China companies.
The December headline PMI, softened to 53.9, a drop of 1.3 percentage points from November’s level.
Still, Tao expects a gradual cooling rather than a sharp slowdown, as cooling growth “should provide a reason for Beijing to tighten not too aggressively,” he said.
China’s growth this year is expected at 9.2%, compared to 2010’s forecasted growth 10.1%, according to Credit Suisse’s estimates.
Hutchison Whampoa boosts stake in Shenzhen, HK ports
Hutchison Whampoa Ltd HK:0013 , boosted its stake in Shenzhen and Hong Kong container ports, the world’s third- and fourth-busiest, sending its stock five percent higher.
Hutchison said on Monday it had agreed to buy port and property assets from partner China Resources (Holdings) Co Ltd, parent of China Resources Enterprise Ltd (0291), for HK$5.7 billion ($732 million).
Its shares closed up 5.25 percent at HK$84.20, the highest level since November 12, and outperforming a 1.7 percent gain on the broader market.
Hutchison, a ports-to-telecommunications conglomerate controlled by tycoon Li Ka-shing, has completed most of its investments in its third-generation (3G) mobile networks and is now seeing profits from its operations.
Shares of Hutchison surged about 50 percent in 2010 on optimism about its telecoms business and expectations of strong growth in its other core businesses, including property, ports and retail.
Hutchison said the acquisition included a 10 percent stake each in HIT Investments Ltd, Splendid Century Ltd, Eckstein Resources Ltd and Hutchison Ports Yantian Investments Ltd, representing all issued shares held by China Resources in these companies.
Brentwood, Tenn.-based OHL International announced on its website that has suspended the U.S. air export business of embattled Activair, one of OHL's freight forwarding units that operates out of the U.S. Midwest.
CBS News had reported that the TSA was investigating allegations that an air cargo company in the Midwest failed to screen for possible bombs and explosives in millions of pounds of cargo carried on international passenger flights over the last eight months.
OHL now says it will continue to ship cargo from the U.S. via air through its Barthco International subsidiary, a TSA-authorized indirect air carrier (IAC). OHL said Activair's ocean and other international shipping businesses would continue unaffected by the suspension. OHL also said Activair is “continuing to fully cooperate with the previously disclosed inquiry by the TSA.”
NAR predicts moderate commercial real estate rebound
For the commercial real estate industry, 2011 will look a lot like 2010 – at least for the first half of the year.
But as markets flatten out and stabilize throughout the year, modest growth is expected as fundamentals improve, predicts the National Association of Realtors.
“The basic fundamental of rising commercial leasing demand, resulting from a steadily improving economy, means overall vacancy rates have already peaked or will soon top out,” said Lawrence Yun, chief economist for the NAR.
“The outlook for the office and industrial markets has moderated, with modestly declining vacancy rates expected as 2011 progresses, while the retail sector should hold fairly steady. Still, high vacancy rates imply falling rents.”
The Port of Seattle announced that as of January 1, all drayage trucks servicing the port’s cargo terminals must adhere to its new clean truck program guidelines in order to gain entry.
The port said in a statement that to date, nearly all trucks have the required "Green Gateway" sticker, and terminals have not reported any unusual back-ups, or longer lines. The port said it had staff on hand to take any last minute registrations.
The clean truck program came out of the Northwest Ports Clean Air Strategy, and over 5,929 trucks and 1,100 trucking companies and truck owners are registered in the Drayage Truck Registry (DTR), the port said.
Drayage trucks with engines older than model-year 1994 may be eligible for a $5,000 incentive through the ScRAPS Program (Scrappage and Retrofits for Air in Puget Sound) which continues until the end of January, the port said.
Tesoro out to raise $230 mil for logistics unit
Tesoro Corp. on Tuesday disclosed plans to raise up to $230 million in an initial public offering of its Tesoro Logistics LP unit.
Tesoro Logistics plans to trade its common units on the New York Stock Exchange under the symbol TLLP.
Tesoro Logistics' assets include a crude oil gathering system in the Bakken Shale/Williston Basin area of North Dakota and Montana, eight refined products terminals in the midwestern and western U.S. and a crude oil and refined products storage facility and five related short-haul pipelines in Utah.
UPS to open four new healthcare distribution centers globally
United Parcel Service Inc. to open four new health-care distribution facilities around the world in 2011.
The Atlanta-based shipping giant said new facilities in Singapore; Venlo, the Netherlands; Burlington, Canada, and Louisville, Ky., will give it a total of 30 health-care-dedicated facilities set up to meet the needs of pharmaceutical, biotech and medical device companies.
UPS will open the facility in Singapore in the late first quarter. The facilities in Venlo and Burlington will come online in the second quarter, and the Louisville facility will open by the end of 2011.
U.S. companies have lost $2.4 billion in exports to Mexico annually since the U.S. shut down a U.S.-Mexican cross-border pilot trucking program in early 2009, according to Peter Friedmann, executive director of the Agricultural Transportation Coalition.
The shutdown violated a provision in the North American Free Trade Agreement, entitling Mexico to impose retaliatory tariffs on U.S. goods that previously entered the country duty-free.
Most of the products on the list are agricultural goods, including grapes from California, Christmas trees from Oregon and fresh fruits from the Pacific Northwest, Friedmann said. “They’re no longer affordable. A french fry plant in Washington state that employed 110 workers had to shut down. Now Mexico gets french fries from Canada.”
The tariffs range from 5 percent to 25 percent of the value of the goods.
The affected goods also include appliances such as refrigerators and consumer goods such as cosmetics.
Mexico imposed tariffs on 89 products in March 2009. It increased the list to 99 products last August, when it dropped 16 products from the original list, but added 26 others. At the same time, however, it dropped the tariffs on some products.
Companies affected by the tariffs include Mary Kay, the skin care and cosmetics producer, which ships three truckloads of its products from its Dallas headquarters to Mexico every week. Its products were initially subject to a 15 percent tariff, but the tariff was cut to 5 percent last August, according to Anne Crews, Mary Kay’s vice president of government relations.
Friedmann said much of the lost export business would come back in a heartbeat because it’s cheaper to buy from the U.S. But, he added, “that doesn’t apply in all cases. Once an importer shifts purchasing, it’s often hard to get it back – as importers establish relationships with different suppliers.”
Congress mandated the closure of the pilot project in response to heavy pressure from the Teamsters union, a strong supporter of the Democrats and Barack Obama during the 2008 presidential campaign. The union saw the program as a threat to its members. Some U.S. trucking companies also opposed the pilot project.
Critics argued that the Mexican trucks and drivers posed a threat to safety, but Friedmann said the Mexican trucks had better safety and emission standards than trucks driven in the United States. Selected U.S. trucking companies also participated in the pilot project.
FedEx adds direct India-China cargo route
FedEx Corp. has added a direct air-cargo route between India and China, a move it said is aimed at serving booming regional trade growth.
The new cargo flights, which began Tuesday, link Mumbai and New Delhi in India to Guangzhou in southern China and run five times a week using A310 aircraft. FedEx has been operating direct New Delhi-to-Shanghai cargo flights since 2005.
FedEx, based in Memphis, Tenn., called China and India "two of the fastest-growing economies in the world" and noted that average annual growth in the intra-Asia air-cargo market is estimated at 7.9% over the next 20 years.
The number of containers passing through Singapore grew 10 percent in 2010 from the previous year.
Throughput for 2010 was 28.4 million TEUs, according to advance estimates shared by Singapore's Minister of Transport Raymond Lim at the Singapore Maritime Foundation's New Year Cocktail reception on Thursday.
Recent reports out of China suggested that this would move Singapore off the top spot as the world's biggest container port.
According to the reports which cited unnamed city officials, Shanghai handled 29.05 million standard containers in 2010, edging past Singapore.
But as cargo volumes pick up and container freight rates stabilize, the outlook for port activities in Singapore is bright.
The Coast Guard says a nearly one-mile stretch of the Houston Ship Channel will be closed for at least four days as workers use pitchforks and fishnets to corral, pierce and remove 15,000 gallons of beef fat.
Coast Guard spokesman Richard Brahm says shipping has not been impacted. The refinery-lined waterway is one of the busiest marine thoroughfares in the country.
On Tuesday, about 250,000 gallons of beef fat leaked from a storage tank, and some reached the waterway through a storm drain. The fat solidified when it hit the colder water.
Seattle’s $1.1 bil waterfront tunnel project inked
The ink is dry on a nearly $1.1 billion contract to build what will be the world's largest diameter deep-bore highway tunnel beneath downtown Seattle.
At a ceremony Thursday at the Port of Seattle headquarters, state Transportation Secretary Paula Hammond signed the 154-page agreement with representatives from Seattle Tunnel Partners, a joint-venture that offered the winning bid to dig the planned 1.7 mile long tunnel to replace the Alaskan Way Viaduct.
Seattle Tunnel Partners outbid one other team, Seattle Tunneling Group, with a proposed price of $1.09 billion to build the tunnel itself. STP includes New York-based Dragados USA, whose parent company is ACS of Spain; and HNTB Corp., which is headquartered in Kansas City and has a Bellevue office; and Tutor-Perini of California.
The contract could be worth up to $1.42 billion, depending on whether the construction team can hit certain bonuses in the contract for things such as completing the tunnel ahead of schedule and successfully protecting downtown buildings from damage during construction.
Freight traffic on U.S. railroads increased last year from depressed 2009 levels, indicative of a "slow but broad-based" economic recovery, the rail industry's main trade group said, although it cautioned that the latest figures still trailed 2008.
Intermodal volume, comprised mostly of consumer and other finished goods shipped by more than one transport mode, was up 14.2% last year, according to the statistics compiled by the Association of American Railroads.
Rail carloadings, which include bulk shipments such as grain, coal and chemicals, climbed 7.3%.
Both percentage gains were the highest on record since the trade group began compiling them in 1988.
But they came in the wake of the biggest year-over-year percentage drops on record. Intermodal volume slumped 14.1% in 2009, compared to 2008, while carloadings fell 16%.
Pacer International, Inc. announced the appointment of Daniel L. Gardner as chief executive officer of its international business unit, which includes Ocean World Lines, the non-vessel operating common carrier, and RF International, the freight forwarding and customs house brokerage operations.
“Mr. Gardner’s role will be to aggressively expand Pacer’s global transportation footprint and capabilities and to deliver seamless integration with its portfolio of domestic intermodal, highway, and transload services,” the company said in a press release.
Gardner will report to Michael Killea, executive vice president, International Logistics. Alan Baer, president of the international business unit, will remain with the company through March 31, 2011 to provide transition assistance, the company said.
Gardner previously held executive level positions with ATC Logistics & Electronics, DHL Global Forwarding, Exel Global Logistics, GeoLogistics Americas, and Fritz Companies.
St. Clair in as new breakbulk chief at Port of Tacoma
Larry St. Clair was named by the Port of Tacoma to lead its breakbulk business, according to a press release.
St. Clair has been with the port since 2006, and has more than 30 years of experience in maritime business, transportation and management.
Prior to joining the port, St. Clair worked in a variety of marketing and business development positions at the Port of Seattle, GATX Terminal, Inc., CSX Corporation, Sea-Land, and P&O Containers.
U.S. corn and soybean export demand drops
Corn fell the most in six weeks and soybeans dropped as demand declined following price rallies to 29-month highs in the U.S., the world’s biggest exporter.
In the week ended Dec. 30, U.S. exporters sold 369,043 metric tons of corn for delivery before Sept. 1, down 47 percent from a week earlier and below estimates by analysts of 400,000 tons to 800,000 tons in a Bloomberg News survey, Department of Agriculture data showed today. Soybean sales fell 26 percent from a week earlier, the government said.
Corn futures for March delivery fell 17.25 cents, or 2.8 percent, to $6.02 a bushel on the Chicago Board of Trade, the biggest decline since Nov. 19. The most-active contract gained 52 percent in 2010. On Jan. 3, the price reached $6.34, the highest since July 2008.
Soybean futures for March delivery dropped 15.5 cents, or 1.1 percent, to close at $13.78 a bushel, heading for the first weekly decline in a month. On Jan. 3, the oilseed reached $14.09, the highest since August 2008, after advancing 34 percent in 2010.


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Industry insiders have told DroningON that DJI are about to launch a special edition ‘Black’ Phantom 4 Pro, this new model may be the focus of the IFA announcement tomorrow in Berlin. Continue reading DJI Phantom 4 Pro ‘Black Edition’ Rumoured For IFA Berlin Launch Tomorrow
[UPDATED 31-08-17] DroningON has official DJI photos confirming the launch of this new model, as well as confirmation from industry insiders. this model will be launched by DJI with extended and quieter flight time. Continue reading DJI Mavic Pro Platinum Edition Photos & Specification Leaked
Earlier this month, we reported on claims that a small number of DJI Spark drones were experiencing issues during flight. DJI have responded by releasing a mandatory firmware update. Continue reading DJI Spark Mandatory Firmware Update Released For Safety, Don’t Panic
Even leading drone manufacturers are struggling to keep their drones airborne, the latest being DJI and their new mini-drone named Spark which recently has been reported by some customers of suffering from mid-air power-loss and uncontrolled fly-aways. Continue reading DJI Respond To Spark Drone Crash/Power-Loss/Flyaway Reports
Following many months of speculation, DJI have finally revealed their latest product, the compact and impressive DJI Spark, but is the price-point overly optimistic for a drone capable of only 1080p. Continue reading DJI Spark Officially Announced, The Ultimate Selfie-Drone?


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Bitcoins Enthusiasts Pursue Tourist Destinations
Today, there are several tourist destinations that have already begun adopting the Bitcoin cash (BCH) as a ‘universal currency’—considering its low fees and instant transactions—with European country Slovenia already becoming a leader in BCH adoption.
Bitcoin cash is a global currency that facilitates numerous payments and businesses, particularly in the hospitality industry—where a lot of businesses are increasingly realizing its potential to transform the sector.
While the adoption of BCH is rising globally, some regions, in particular, are onboarding faster than most. Slovenia, a South-Eastern European country, is a small picturesque country with over 300 merchants accepting BCH and according to the Marco Coino app, Europe as a whole has 446
Other notable regions include Australia, with over 140, the U.S. with nearly 120, and Japan where around 70 businesses accept BCH.
In the U.S. Northeast, bitcoin cash can be used to buy goods and services, with 16 companies accepting the cryptocurrency in New Hampshire. The city of New York has at least 7 businesses accepting BCH payments.
According to Bitconmap.cash, you can eat at the La Sirene seafood restaurant in Manhattan or buy a coffee at the Mamacha Art Café paying with coins. Sites like bitcoinswin.com provide a safe platform for users to win online.
The support for Bitcoin cash is quite big in Northern America as they equally provide ATMs. According to Coinatmradar’s BCH Map, the number of ATMs available exceeds 1,350.
However, in South America, Venezuela has the biggest adoption of Bitcoin cash by miles. According to the Marco Coino map, it shows that over 190 businesses were accepting BCH there. Also, over 30 companies in neighbouring Colombia also welcomed bitcoin cash payments. However, unlike Venezuela, Colombia has numerous teller machines supporting BCH.
Europe is still the leader in bitcoin cash adoption, and asides Slovenia, where a large majority of businesses accepting BCH are based, there’s the United Kingdom—home to 21 companies accepting bitcoin cash, most of which are concentrated in and around London. There are also 18 BCH ATMs scattered across London.
Another country for bitcoin enthusiasts is Lithuania. The small European nation is home to around 30 firms accepting electronic cash. Though, quite a number of them are located in or close to the capital, Vilnius.
Nonetheless, crypto payments have been growing rapidly across the Baltic region in the past few years. Today, businesses from different sectors, such an as real estate, e-commerce, commerce, hospitality industry, and even healthcare, are now selling products and services in bitcoins. In neighbouring Latvia and Estonia, there are numerous bitcoin cash ATMs to give.
One tourist hot-spot, Spain, has numerous tourists trooping into the country all seasons and has 13 bars, restaurants and shops accepting BCH just in Barcelona, capital of Catalonia—one of its most developed areas. Spain has 15 BCH trading ATMs, one of which is in located in Madrid and another one on the Canary island of Tenerife.
In Gibraltar, there are various bitcoin-accepting businesses in Gibraltar, close to the Spanish city of Alicante, the Tunisian capital Tunis, and in Israel. You’d also find bitcoin cash ATMs in Palma de Mallorca, Napoli and Palermo in Italy, and close to the Old City of Jerusalem. There’s also a BCH trading teller machine in Jeddah, not too far from the holy city of Mecca in Saudi Arabia—which Like Jerusalem attracts millions of pilgrims every year.
Africa, on the other hand, has been relatively slow to adopt cryptocurrencies for numerous reasons. However, South Africa is as an exception, as at least three companies in the area of Johannesburg—the largest city—accept payments in bitcoin cash.
Durban. Uganda, also considered to be a crypto-friendly nation, has a bitcoin ATM that supports BCH withdrawals in its capital Kampala, close to Lake Victoria, the largest African lake and an exotic location worth seeing.
For tourists going to Southern Asia, there are numerous places to spend bitcoin cash. Lots of bars, restaurants and other businesses in the capital city of Bangkok—and countries like Singapore—alsoaccepts cryptocurrency. Hong Kong has a minimum of 4 companies while Japan has almost 70 businesses accepting bitcoin cash.
Quite a number of ATMs across the region allows purchases and sales of bitcoin cash, with the highest number in Malaysia—with nine devices, four of which have been installed in the capital, Kuala Lumpur.


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DESIGNER iPAD BAGS TO BE FEATURED AT NYC CONSUMER ELECTRONICS SHOW
Stylish ‘Kaboo Bag’ Set to Make a Splash at Tech Innovation Conference
for Kaboo Published On: 06.21.12 7.30 pm
SALT LAKE CITY, UT –June 21, 2012 –Kaboo, LLC will be in attendance at the prestigious Consumer Electronics Association (CEA) Line Show in New York City on June 27th and 28th, which will feature companies such as Sony, Intel, Hitachi, and other tech giants. The company, known for its stylish designer iPad bags, is slated to display its popular line of women tech purses, including the bestselling “Olivia” bag in turquoise.
A vacancy in technology trendiness has driven Kaboo to create its line of stylish, device-friendly purses and handbags for today's busy woman, highlighting the fashion-aware mother. Kaboo handbags offer convenient storage for all mobile devices, including iPads, Smartphones and eReaders. Each purse features a shock-absorbent 'Tech Pouch', which helps protect the device from everyday wear and tear.
On top of its regular bestselling purses, Kaboo is planning to release five new designer iPad bags in the latest fall fashion colors. Samples will be showcased at next week’s CEA show, and those interested in a glimpse can find Kaboo at CEA show location T54.
A wide array of other tech accessory producers will attend the show, but Kaboo emphasizes the uniqueness of its product line. “The key differentiator of the Kaboo brand purses is the Tech Pouch. The CEA show is a prime springboard to introduce Kaboo to the tech world in a huge way,” says Jeff Durham, President and CEO of Kaboo.
Kaboo plans to strategically broaden its tech accessory offerings every few months to cater to the latest trends in technology and fashion. The company’s most recent project is the development of a new Blue Tooth Wireless Speaker, which will complement the latest line of ear buds on the market.
For up-to-date company and product information, visit www.kaboobags.com <http://www.kaboobags.com> .
About Durham Brands™
Durham Brands™ is a leader in designing, building, and delivering innovative consumer products for women. Durham Brands houses 4 major brands: Imaginisce(R) (Craft & Hobby), Gimme Clips™ (Health & Beauty), Kaboo™ (Fashion Tech Accessories), and Durham Design & Manufacturing™ (Fashion & Organizational Jewelry). Please visit www.kaboobags.com <http://www.kaboobags.com/> for more information.
Contact: Don Lambson
- Key Messages
- Kaboo Bags - the fashionable purse choice for tech-savvy women
- Kaboo Bags' tech pouch™ provides added protection for your iPod, Kindle FIRE, Nook or other tablet device.
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LOS ANGELES - In a bizarre incident in Los Angeles, a Lamborghini Huracán driver took fast food to new heights by filling the luxury sports car's exhaust pipe with French fries, as revealed in a video by Storyful.
The unidentified man playfully served the Lambo a portion of greasy fries, capturing the attention of onlookers.
Despite concerns that the starchy stunt might lead to complications within the exhaust system, the video shows the fries shooting out of the car's exhaust pipe and soaring into the sky.
"We thought it was a bad idea since it might have gotten stuck in the exhaust system and not have gone out. But in the end, it all ended in a viral snowy French fry video," said Gabriel Fernandez.
- McDonald's offering free fries on Fridays for the rest of the year
- Mcdonald’s will upgrade its burgers, including the Big Mac, in 2024
- McDonald's to debut new spinoff restaurant concept called CosMc's next year
- McDonald's ditching one of its most recognizable utensils
The Lamborghini Huracán, a symbol of luxury and speed, typically commands a starting price of $212,000. This unexpected and amusing event has since gone viral on social media, adding a unique chapter to the car's legacy.
Storyful contributed to this report.


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The Swiss bank Credit Suisse is looking to do business with Israeli startups by identifying investment opportunities in companies for clients of its wealth management business. The bank, represented by senior bankers Chris Cottrell and Philippe Cerf, held a forum with high-tech companies this week as a way of building connections with them. The bank has done some business in Israeli tech in past, raising capital for Landa nanotechnology printing labs as well as acting as underwriters for companies like chip designer Mellanox and plant genomics company Evogene. In September, Credit Suisse invested $12 million in the Israeli cybersecurity startup Secure Islands. Credit Suisse’s move follows decisions by Bank Hapoalim and Bank Leumi over the past year to set up special units to provide startup finance.
Forter raises $15m for automated fraud detection
Forter, which provides fraud-prevention solutions for online merchants, said Tuesday it raised $15 million from venture capital firms New Enterprise Associates and Sequoia Capital. The funding round, which is the second since the startup was formed a year and a half ago, will be used to set up sales offices in the United States and add 25 employees to its Tel Aviv research and development center. Two of the most influential figures in venture capital — Sequoia’s Douglas Leone and New Enterprise’s Peter Barris — took part in the inauguration of the new R&D center this week, Forter said. Forter offers what it says is real-time, automated fraud detection for online retailers. Online merchants had $5 billion in losses in the last year from e-commerce, the company said.
NCR laying off 180 in Israel
NCR, the U.S. ATM and cash register maker that bought Israel’s Retalix two years ago as part of an expansion into software, is planning to lay off up to 180 employees from the Retalix R&D offices in Ra’anana. Retalix makes software for chain retailers to help manage sales, stores and logistics. NCR declined to comment, but sources said between 170 and 180 employees were called in for pre-dismissal hearings. It is the second round of layoffs by NCR Israel, which employs about 1,100 people, after 60 were let go over the summer. The earlier layoffs came after the company lost a key contract with the Canadian arm of U.S. retail giant Target. This time, the firings are part of a global cost-cutting move by NCR in the retail technology segment of its business.


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France fined Apple on Monday about $ 1.2 billion for alleged anti-competitive practices.
The French Competition Authority
It issued the € 1.1 billion fine, the largest ever to be imposed on a single company, after finding the culprit behind the cartels and abusing the financial dependency of its resellers. French officials also fined two Apple wholesalers for a total of € 139 million, or roughly $ 155 million.
"Apple and its two wholesalers agreed not to compete and prevent distributors from competing with each other, thus sterilizing the wholesale market for Apple products," Isabelle de Silva, president of the competition authority, said in a translated press release.
Tech Data and Ingram Micro, based in the United States, implemented the "Product and customer allocation mechanisms" Apple developed rather than set its own policy, according to French officials. The authority said it fined Tech Data 76.1 million euros, while Ingram Micro was fined 62.9 million euros.
Apple also caused supply problems and "Discriminatory treatment" for company resellers, according to the competition authority.
In your most recent quarterly report that "Strongly disagrees" with the allegations of the competition authority. A company spokesperson told him that he plans to appeal and called the decision of "Discouraging".
"It ties in with the practices of more than a decade ago and rules out thirty years of legal precedent in which all companies in France rely on an order that will cause chaos for companies in all industries," Apple spokesman said.
They also imposed a fine of € 25 million on Apple in February for software updates that would likely curb older iPhones.


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Exports of UK goods to the European Union dropped by more than forty per cent in January as Britain and Brussels began their post-Brexit trading relationship.
New data published this morning by the Office for National Statistics revealed that the overall export of goods fell by £5.3billion – some 19.3 per cent – in the first month of the year.
This was largely driven by a 40.7 per cent fall in exports to the EU, worth an estimated £5.6billion.
Meanwhile, imports of goods to the UK also suffered a significant hit, falling by £8.9billion overall, approximately 21.6 per cent.
This was largely as a result of a 28.8 per cent fall in imports from the EU, worth an estimated £6.6billion.
The ONS said the monthly fall in goods imports and exports in January represent the largest monthly falls since records began in January 1997.
Labour claimed the numbers illustrated ‘just how many British businesses have been struggling with the new reams of costly red tape and bureaucracy’ following the end of the Brexit transition period.
UK imports and exports to and from the EU fell significantly in January after the end of the post-Brexit transition period, according to data published by the Office for National Statistics
The overall exports of goods fell by £5.3billion – some 19.3 per cent – in the first month of the year, this was largely driven by a 40.7 per cent fall in exports to the EU, worth an estimated £5.6billion
The latest ONS numbers came one day after Michael Gove announced that Britain will delay the introduction of post-Brexit border controls on some imports from the EU because of coronavirus disruption.
The Government had agreed to phase in customs requirements for GB imports from the EU over a six-month period in the first half of 2021.
But the Government has now extended the timetable by a further six months after businesses said they needed more time to prepare.
Full border control processes will now be introduced on January 1 2022 – six months later than originally planned.
Total imports of goods from non-EU countries fell by £2.4 billion – some 12.7 per cent – in January while exports increased by £0.2 billion – some 1.7 per cent.
Suren Thiru, the head of economics at the British Chambers of Commerce, said the trade numbers showed ‘difficulties faced by businesses on the ground go well beyond just teething problems’.
He said: ‘While changes in data collection limit historic comparisons, the significant slump in UK exports of goods to the EU, particularly compared to non-EU trade, provides an ominous indication of the damage being done to post-Brexit trade with the EU by the current border disruption.
‘Continued coronavirus restrictions and the unwinding of Brexit stockpiling also added to downward pressure on trade between the UK and EU in January.
‘The practical difficulties faced by businesses on the ground go well beyond just teething problems and with disruption to UK-EU trade flows persisting, trade is likely to be a drag on UK economic growth in the first quarter of 2021.
‘Although the postponement of import checks will help avoid exacerbating the current disruption, there must be a greater focus on long-term solutions to improving the flow of UK-EU trade. Offering tax credits to support firms to adapt to the new arrangements would help many address new burdens and requirements better.’
The latest numbers published by the ONS do come with a health warning from the organisation.
The ONS said the monthly fall in goods imports and exports in January represent the largest monthly falls since records began in January 1997
Michael Gove yesterday announced Britain will delay the introduction of post-Brexit border controls on some imports from the European Union because of coronavirus disruption
It said that ‘monthly data are erratic and small movements in these series should be treated with caution’.
The ONS pointed out that January is the first post-Brexit month of trade after the end of the transition period on December 31 while the UK also faced another coronavirus lockdown at the same time as it rolled-out new border arrangements.
The ONS said that November and December last year had seen increasing imports and exports of goods ‘consistent with potential stockpiling of goods from the EU in preparation for the end of the EU exit transition period’.
It noted that UK imports from the EU had previously peaked in the weeks leading up to previous Brexit deadlines in March and October 2019.
‘All of these are potential contributing factors to the fall in January trade in goods,’ the ONS added.
Rachel Reeves, Labour’s shadow chancellor of the Duchy of Lancaster, said: ‘These figures make it clear just how many British businesses have been struggling with the new reams of costly red tape and bureaucracy this Government has wrapped them in.
‘Businesses have been appealing to the government to start listening to the problems they’ve been facing, but they’ve been left out in the cold.
‘The Government must up their ambition here, and take practical action, hand in hand with businesses, to build on the limited deal they negotiated with the EU.’
A Government spokesman said: ‘A unique combination of factors, including stockpiling last year, Covid lockdowns across Europe, and businesses adjusting to our new trading relationship, made it inevitable that exports to the EU would be lower this January than last.
‘This data does not reflect the overall EU – UK trading relationship post Brexit and, thanks to the hard work of hauliers and traders, overall freight volumes between the UK and the EU have been back to their normal levels since the start of February.
‘Many businesses have adapted well, and our focus now is on making sure that any business that is still facing challenges gets the support they need to trade effectively with the EU.’


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Here’s an update on the 13 1/2 year high for green coffee beans. This new milestone just happened on Friday. We at Bongo Billy’s are keeping a keen eye on the market to see when we can expect some relief. Stay tuned. An excerpt:
Arabica coffee has traded in a range since late December, with prices supported by a bullish macroeconomic picture of higher demand in emerging economies and a shortage of high-quality washed arabica beans from key producer Colombia.
Tight supplies of higher quality beans also pushed up physical coffee prices in top grower Brazil and in Tanzania, where top-grade coffee fetched an all-time high at this week’s auction, traders said on Friday.


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SAN FRANCISCO (CBS.MW) -- When it comes to nutritious eating, few consumers are putting their money where their minds are.
While many are more attuned to news about healthier foods and diets, they're still flocking to the fast-food drive-throughs, according to a new study.
Almost 40 percent of about 7,800 adults surveyed said they followed press coverage on healthy foods in the last month, according to BigResearch, a market research firm in Columbus, Ohio.
Many said they were monitoring their nutrition. Almost half said they were watching their fat intake, nearly 42 percent reported counting calories, a third were paying attention to their sodium and about 31 percent said carbohydrates were under scrutiny in the last 30 days, the study said.
Yet that didn't stop 80 percent from eating at a fast-food restaurant in the same time frame.
"Obviously there's a contradiction because people are busy but fast-food locations make sense," BigResearch president Gary Drenik said. "The new menu items being added like salad at Wendy's and McDonald's are also meeting a need for the busy consumer."
Awareness and favorites
Many were even familiar with what individual companies were doing to make their fare more diet-friendly, with nearly 35 percent aware of McDonald's
One in four people said they knew of Kraft Foods'
efforts in the last 30 days, which included a four-point plan to help Americans slim down. And Wal-Mart's
When asked to identify their favorite quick-serve restaurant, consumers using write-in votes named these five most frequently, according to the survey:
- McDonald's -- 14.5 percent
+1.13%-- 14.2 percent
- Burger King -- 9.7 percent
- Taco Bell
-0.35%-- 7.8 percent
- Subway -- 5.3 percent
The ranking doesn't necessarily reflect market share, Dresnik said. In some cases, it's a better indication of the number of locations a chain has, or the level of awareness among children who steer adults' fast-food decisions, he said.


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And along with the increased interest, and greater capex outlay on VOIP systems, comes wave after wave of vendor announcements. Those waves have grown into a tsunami in the past few days, so we've picked out a few of the more telling tidbits.
Session Controller Firms Spew News
These vendors, whose products interconnect multiple IP networks and manage IP sessions across those networks, are never short of something to say.
Take Kagoor Networks, for example. It announced a beefier product, the VoiceFlow 4000, which, it claims, will deliver 750 calls per second, five times more than its 3000 box (see Kagoor Boosts Its VoiceFlow).
The firm's marketing VP Jim Greenway says that, having launched their initial VOIP services, many carriers will need to scale up their VOIP systems in the next 12 to 18 months, "and we're getting ready for that." He adds that a key feature of the product, available from early 2005, is that the box is small, just a 4U-high chassis. "This means it's small enough to deploy at the edge of the network as well as at the core," claims Greenway.
One of Kagoor's chief rivals, Netrake Corp., also announced a product enhancement (see Netrake Upgrades Session Controllers). It is pushing its credentials in the residential VOIP system sector and talking up the ability of its nCite session controller to handle the flexible bandwidth requirements of multiple SIP-based applications, such as video conferencing.
NexTone Communications Inc., meanwhile, announced a new customer in the form of VeriSign Inc. (Nasdaq: VRSN), and a demo with an MPLS router vendor (see VeriSign Picks NexTone for VOIP and NexTone Demos MPLS Control). VP of marketing Dan Dearing says NexTone now has more than 150 users, and that it is experiencing about a 30 percent growth in the number of ports shipped quarter on quarter.
Dearing says the current challenge is to help carriers deliver services to their business customers. "It's a much more complex challenge than delivering VOIP to the residential market, as there are many more technologies, such as PBXs and video systems, to interconnect with, and the end users are much more mobile," says the NexToner.
Meanwhile, all these vendors are looking over their shoulders as other VOIP-related vendors, such as softswitch vendor Veraz Networks Inc., encroach on their territory as the market cranks up a few notches (see Veraz Gets More Controlling and Report: Session Controllers in Demand).
Now Network Equipment Technologies Inc. (net.com) (NYSE: NWK) is getting in on the act at the edge of the network by adding session control functions to its ShoutIP platform (see Net.com Offers SIP Session Control).
"And your host for this evening..."
Service providers are developing a taste for hosted IP services, if the news from a number of application server vendors is anything to go by. Sylantro Systems Corp., for example, has just announced another customer in the form of PowerNet Global Communications Inc., which has 500,000 residential and 50,000 business customers (see PowerNet Uses Sylantro for VOIP).
That follows last month's gig at Lightyear Network Solutions LLC, which will push hosted VOIP services at its 60,000 residential customer base (see Lightyear Uses Sylantro for VOIP).
A Lightyear spokesman says it chose Sylantro over main competitors BroadSoft Inc. and VocalData Inc., because "we felt Sylantro had a good track record of working with smaller organizations, and we were sure they could support us as we roll out the service."
Sylantro has also just announced support for WLAN handsets and SIP-based video telephony (see Sylantro Supports Video, WLAN Phones).
Not to be outdone, VocalData, now part of the growing Tekelec Inc. (Nasdaq: TKLC) empire, has also bagged a new customer, albeit one from the Tekelec stable (see Telekenex Uses VocalData for VOIP and Tekelec Connects With VocalData), while Broadsoft has announced a partnership with Microsoft Corp. (Nasdaq: MSFT) that will see the pair integrate their respective hosted VOIP and instant messaging and presence technologies (see BroadSoft, Microsoft Team Up).
Up and coming applications server startup Ubiquity Software Corp. has also been busy this week, launching its VOIP Plus service creation solution and some customers (see Ubiquity Launches VOIP Plus, Endavo Uses Ubiquity for VOIP, and SipStorm Offers VOIP With Ubiquity). And VOIP gear vendor Verso Technologies Inc. (Nasdaq: VRSO) launched itself into the IP Centrex market with a platform aimed at service providers that target SMBs (see Verso Launches Hosted Voice Software).
Alcatel and Verizon Cozy Up
Verizon Communications Inc. (NYSE: VZ) and Alcatel SA (NYSE: ALA; Paris: CGEP:PA) have launched a joint assault on medium-sized businesses, those with between eight and 100 voice lines, pushing a managed services package that includes the vendor's hybrid PBX, services, support, and maintenance (see Alcatel, Verizon Team for VOIP).
Verizon spokeswoman Catherine Lewis says that while the RBOC already has partnerships with other PBX vendors such as Cisco Systems Inc. (Nasdaq: CSCO) and NEC Corp. (Nasdaq: NIPNY; Tokyo: 6701), those deals involve the delivery and installation of the product but not any follow-on support.
"This is much more complex than a simple resale deal, and we're unaware of anyone else offering such a total package. This gives small and medium-sized businesses, which often don't have the resources to manage their communications systems themselves, one point of contact for services, support, and equipment," says Lewis.
The package is on offer in Boston and Phildelphia to begin with, and will be rolled out to other "key cities" during the next year, says the Verizonette.
And finally, a little test...
It's just as well for the environment that companies don't send their news releases by fax any more (or do they?), otherwise there'd be a few more trees reduced to pulp after the past week or so's flurry of announcements.
Empirix Inc. and Spirent Communications were most prominent (see Spirent Ups VOIP Test Ante and Empirix Hammers on Carriers' Doors), but to get all the news, check out our Testing Technology Channel.
— Ray Le Maistre, International News Editor, Light Reading
For more on this topic, check out:
- The coming Light Reading Webinar:
— VOIP Testers


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- Zero-emissions electric tractor manufacturer Solectrac recently announced that agriculture and construction industry veteran Mani Iyer will succeed the company’s founder as CEO as Solectrac enters an anticipated period of new growth
- Solectrac is a subsidiary of clean energy-focused company Ideanomics Inc., which announced its 100 percent acquisition of the EV tractor manufacturer and distributor last month
The electric vehicle (“EV”) market continues its push toward maturity as many of the world’s governments struggle to enact systemic change to their energy policies as a response to persistent concerns about the global climate (https://ibn.fm/9iw8G). New York-based EV company Ideanomics (NASDAQ: IDEX) is helping to advance clean energy enterprises in response to the established need for solutions.
Multinational accounting and professional services network Ernst & Young Global Limited (“EY”) has predicted EVs will become more popular than internal combustion engine (“ICE”) gas-powered vehicles by 2033 in the United States, Europe and China, just over a decade from now, while more conservative forecasts tack another five years onto the timeline but otherwise agree about the ascendance of EVs in the world’s auto industries, according to an analysis published July 6 by InsideEVs (https://ibn.fm/2kBxQ).
Ideanomics boosted its stake in Solectrac to 100 percent last month, acknowledging the importance of EV technology not only to transportation but to the agricultural industry as well (https://ibn.fm/450Tb). As such, Solectrac is advancing to a leading position in what is currently a limited field of competition within the specialized EV sector with a product that is fully scalable and able to generate revenue.
On July 1, the company announced Solectrac’s new CEO will be agriculture and construction industry veteran Mani Iyer, with expectations that his experience in international equipment sales and marketing, business strategy and development, channel development, supply chain management, product support and service, manufacturing, and quality assurance will help the company build manufacturing and distribution scale for its EV tractor products (https://ibn.fm/Vq5Fb).
Iyer is building on a record of delivering distribution and supply chain innovation that has granted him a reputation for proven results within the tractor industry and beyond.
“Through a relentless focus on reducing the total cost of ownership, creating a category-leading portfolio of best-in-class tractors and accessories, and driving the buildout of a world-class dealer network, Solectrac will be poised for rapid market share and revenue expansion,” Iyer stated. “We will also leverage lending and financial services from Ideanomics Capital to jumpstart sales through innovative financing and promotions in both our online and dealer channels for a simple and seamless buying experience.”
Solectrac’s founder and former CEO Steve Heckeroth led the search for his successor and will continue with the company as chairman of the board, according to the announcement.
“Mani brings a wealth of experience in supply chain and channel distribution, along with a stellar network of dealer relationships, all of which will be invaluable to the growth of the company as we continue to lead the zero-emission, regenerative farming movement,” he stated.
For more information, visit the company’s website at www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
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Xiaomi is launching its 11T series later this week. The company has already confirmed that the 11T pro is going to bring 120W wired charging, and I am not sure about you, but that is a lot of power being pushed to the phone at the same time, and this raises some concerns, especially when you are talking about the health of the battery. Thankfully, the company has stepped up and explained how this ultra-fast charging speed would affect battery health over time.
Xiaomi's 120W Charging Will Deteriorate Your Battery By 20% in About Two Years or 800 Charge Cycles.
Xiaomi's head of communications, Daniel Desjarlais, talked to The Verge and how we can expect 80% of the battery capacity after 800 charging cycles. Which is roughly two years, but your mileage may vary.
This is what Desjarlais had to say,
Now, that 20% might sound like ‘oh wow, I’m losing 20%,’ but that’s quite standard across basically all charging tech. 800 cycles, for most people, it’s going to be two years roughly. So that’s quite solid.
He also talked about "relatively minute differences" to battery degradation when using a slower charger instead of the 120W charge. He also said that it would be ideal if the users use a slower charger overnight because using the 120W charger overnight will result in the device being plugged in long after it has finished charging. In case you have forgotten, Xiaomi announced 200W HyperCharge earlier this year, and while this is not as absurd, it still is a lot, even for modern smartphones.
While a 20% battery drop over 2 years might not seem like a big issue, to be honest, but be honest, there are a lot of consumers who hold onto their devices for longer than that, especially after the fact that smartphones are receiving software updates for a long time now. So, it only makes sense to keep your device with you until it is completely obsolete.
The company is all set to reveal the Xiaomi 11T series, and we will be providing you with the complete coverage of both devices that the company is set to unveil. So stay tuned!


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The company told trade officials in a letter on Friday that the proposed tariffs would affect prices for a "wide range" of Apple products, including its Watch, but it did not mention the iPhone.
Apple did not respond to requests for comment. Apple's letter to the United States trade office named several company products that risk facing duties; they include the HomePod, the Apple Pencil, company chargers and adapters for Apple devices, and even the leather covers for iPhones and iPads.
USA trade officials are juggling a number of high-profile files, in addition to the China tariffs, at the same time as the president tries to tamp down reports of resistance to his agenda from within his own administration.
Apple does manufacture Mac Pros here in the U.S., but a majority of its products are produced in China. However, he said looking to tariffs as a solution is generally unwise because of the amount of imported materials American companies rely on and supply chains that crisscross borders. Now, the Trump administration "has begun to hit things clearly not processed in the US - consumer goods - and this is going to get people's attention".
Apple outlined how the company's operations and products will be affected by the tariffs.
Many anticipated the Trump administration would announce the tariffs going into effect Friday morning, although no announcement came from USTR or the Trump administration.
Apple generated $9.6 billion in sales in China in the fiscal third quarter, accounting for 18 percent of its total revenue in the period.
1-inch iPhone leaks in four colors, shows its dual SIM tray
It wouldn't be unreasonable to suggest a 512GB option might appear somewhere though, given Samsung introduced this on the Note 9 . As per Ming Chi Kuo, an Apple analyst, Apple will be sticking with the Face ID on the new iPhones as a security feature.
Thursday marked the final day for the public to comment on Trump's proposal to impose a 25 percent on $200 billion in Chinese goods. "China trade war has now become even more hard to discern as both sides step up their attacks and counter-attacks", said Cornell University economist Eswar Prasad, former head of the International Monetary Fund's China division.
Despite several rounds of talks between USA and Chinese officials, the two countries have made little progress toward resolving their differences. "There's an inescapable mutuality that serves the bring the USA and China together", said Cook. "Each country can only prosper if the other does", he said in the summer call with analysts.
Their trading partners complain those violate Beijing's free-trade commitments and USA officials worry they might erode American industrial leadership.
The U.S.in July began imposing tariffs on $50 billion in Chinese industrial imports.
That could help reignite US demands that Beijing narrow its trade gap, which has temporarily been overshadowed by their clash over complaints China steals or pressures foreign companies to hand over technology.
Jeffrey Frankel, a professor and economist at Harvard University, said some concerns American companies have raised about China are valid.
USA companies are joining forces to oppose a common threat-tariffs.


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The U.S. International Trade Commission ruled against awarding Motorola Mobility an import ban on Apple’s iPhone and iPad Friday afternoon. The agency said Apple didn’t violate three of the four patents included in the complaint, and called for an investigation on the fourth.
The three patents the ITC ruled Apple isn’t violating with its iOS devices are all considered standards essential, while the fourth, which describes a sensor controlled user interface for portable devices, is not.
ITC: No iPhone ban for Motorola
Administrative Law Judge Thomas B. Pender found “claim one of that patent indefinite and, as a result, not violated. The ITC has reversed his indefiniteness finding,” Florian Mueller of Foss Patents said. “As a result, there could (but need not) be a finding of a violation with respect to this patent, and an import ban.”
The end result is that, at least for now, Motorola Mobility isn’t going to be able to force Apple to stop selling the iPhone and iPad over these patent infringement claims.
Motorola Mobility filed a second ITC complaint against Apple several days ago over claims that the iPhone, iPad and Mac computers infringe on a voice control patent it holds. The electronics maker also claimed that Apple is infringing on its patents with its location-based reminders, mobile video players, and email notification systems. None of those patents are considered standards essential.
The ITC ruling comes on the heals of a big victory for Apple in its patent infringement lawsuit with Samsung. Jurors in that case awarded Apple over US$1 billion for infringing on Apple’s mobile device patents, while awarding Samsung nothing other than a kick in the pants.
The jurors ruled that nearly every Samsung device mentioned in the case violated Apple’s patents, except for the Galaxy Tab and Galaxy Tab 10.1 tablets.
Samsung will most likely appeal the ruling in hopes of getting a more favorable verdict.
The ITC’s investigation into the remaining patent infringement claim from Motorola Mobility could take up to a year before it is completed.


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Under the Competition Commission’s PPI order, from April 6 intermediaries will no longer be able to sell accident, sickness and unemployment style insurance products – including PPI and mortgage payment protection insurance – at the point of sale of a mortgage.
While advisers will still be able to provide a quote at any time, they will only be able to sell a policy seven days after either the date the lender formally makes the mortgage offer or the date the quote is provided, whichever is later.
A survey of 117 mortgage brokers carried out by LV= shows that 28% are not aware they will no longer be allowed to sell products of this kind at point of sale from April 6.
The poll reveals that while 72% know the ruling is coming into place, 52% are not fully aware of what the new rules mean.
Some 71% of respondents feel that there is not enough guidance on how the new changes should be implemented.
One in five brokers say they have already reviewed their processes to ensure they are compliant with the changes and a third say they have allocated time and resources to prepare.
Mark Jones, head of protection at LV=, says the changes will have a significant impact on the way protection products are discussed when consumers are taking out a mortgage.
He says: “It’s worrying that many mortgage advisers aren’t aware of what they need to review ahead of this ruling coming into force, or even that new rules will apply.
“Many advisers will now be looking at products to sell as an alternative to MPPI, and we hope they use this opportunity to discuss longer-term income protection products with their clients.”


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Maybe it is true that Australians never had it so good!!
18 August 2006 10:06 by Davedough (on After Dawn)
Apple admits to unfair labor in ChinaIn a press release earlier, Apple admitted that there has been unfair work environments in their factories in China which produce the iPod.
Apple has said that it's own investigation has shown the working conditions to be excessive, and is now only enforcing a "normal" 60 hour work week. They further went on to say that there was no report of enforced labor or the use of children in their factories.
A representative from Apple has said "Our investigation found that our top iPod manufacturing partner, Foxconn, complies with our supplier code of conduct in most areas and is taking steps to correct the violations we found."
Janek Kuczkiewicz, director of ICFTU (International Confederation of Free Trade Unions) has stated that he is not impressed by Apple's report.


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Score one for The Clinton Group.
The activist investor firm successfully forced change at ValueVision Media Inc., from new board members to a new chief executive officer: Mark Bozek.
The Clinton Group and the former board at ValueVision, which operates the TV and Internet shopping site ShopHQ, had been locked in a bitter battle for board change since November.
That battle included a proxy fight in which proxy-advisory firms Glass Lewis and ISS — in a rare move — supported either the majority or the entire slate of board nominees recommended by The Clinton Group.
That fight ended last week at the company’s annual meeting of shareholders in which investors voted in favor of four from the slate proposed by The Clinton Group. The final tally of all votes wasn’t immediately available.
Those four include Bozek, former ceo of HSN Inc., which operates Home Shopping Network, and cofounder of e-commerce platform Evine.com; Bob Rosenblatt, former interim president of flash-sales site Ideeli.com and former group president and chief operating officer of Tommy Hilfiger Corp.; Fred Siegel, former senior vice president and marketing head for QVC, and Tom Beers, ceo of Fremantle Media NA.
They join four existing ValueVision board members who were reelected: John Buck, non-executive chairman of Medica; Landel Hobbs, ceo of LCH Enterprises LL; Lowell W. Robinson, former chief financial officer and chief operating officer of MIVA Inc., and most recently a director of The Jones Group from 2005 until earlier this year when Sycamore Partners completed its acquisition of the apparel firm, and Keith Stewart, ceo.
Ousted board members include Jill Botway, William Evans, Sean Orr and Randy Ronning.
Upon Stewart’s resignationas ceo and board member, the reconstituted ValueVision board on Sunday unanimously elected Bozek as the company’s ceo. Rosenblatt was named non-executive chairman. They also voted for The Clinton Group’s nominee Ron Frasch to join the board. Frasch is the former president and chief merchandising officer of Saks Fifth Avenue. The five new members give The Clinton Group majority control of the eight-member ValueVision board.
Bozek said of his new position, “For anyone in retail that operates in the multichannel space, the opportunity to have access to over 87 million homes is a tremendous advantage, and one that I suspect many in the e-commerce space would relish. The opportunities are boundless, and I am especially thrilled to have Ron Frasch as a member of our board of directors.”
Bozek, who was also previously a senior vice president at QVC, was clear on his priority as the new ceo of ShopHQ: “In a business that’s completely on dollars per minute generated by the sale of merchandise, among the initial focuses will be generating as many brands and products that deliver more dollars per minute than ever before.”
The Clinton Group, like other activist investors, invests in public firms that aren’t managed optimally. ValueVision’s ShopHQ site was once known as Shop NBC. It sells merchandise in the fashion, accessories and beauty categories.
Gregory P. Taxin, managing director at The Clinton Group, said, “We thought [ValueVision] was a clear-cut case for change. The overwhelming number of professional investors who voted in this proxy fight voted for change. The vote was not a close call.”
Taxin noted that the old management team and board “fought very hard, and spent much of the company’s money to keep their tenure,” and said that in general, most companies tend to be more willing to listen to the ideas and criticisms of investors.
“This is unusual in that the company and the board flat-out refused to make the changes we were recommending, to the point where it made sense for us to go to fellow shareholders to determine whether they would support the changes we were looking for, and that’s what made this [become] a more public fight than usual,” Taxin said.
Taxin added that there’s a lesson to be learned in the case of ValueVision: “This is a warning to companies that are not performing well, and to management teams and boards that are not thinking objectively or independently about shareholder value. Shareholders, if you [companies, the management team and boards] don’t ensure that business is being run well, will vote against you.”
While activism isn’t new, it certainly seems to be in vogue as investors push for the creation of shareholder value. Earlier this year, activist investor Engaged Capital pushed for new board members at Abercrombie & Fitch.
Chairman Arthur Martinez said shortly after he was named to the A&F board, “We will propose a slate to our shareholders. What our activist friend chooses to do, he will do. We will continue to evolve and grow this board in terms of its capabilities.” Martinez also emphasized that he was having ongoing dialogues with all investors. A&F and Engage have since settled their issues and a mutually agreed-upon slate was presented to the shareholders at its annual meeting on Thursday.
Looking ahead, there’s some jockeying for position as unhappy founders at Lululemon Athletica Inc. and American Apparel Inc. are expressing their displeasure over decisions at the board level. While a different animal from an activist initiating the agitation for change, activists could get involved if either Lululemon’s Chip Wilson or American Apparel’s Dov Charney can muster support from investors who agree that they have the best vision for creating additional value at the company each has founded.


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Several Indian biopharma companies are eyeing a potential buy of Bharat Serums and Vaccines in a deal that could be worth $1 billion, according to The Economic Times, which cites two sources familiar with the talks. Price remains a key stumbling block.
Among potential buyers are Cipla, Zydus Cadila and Dr. Reddy’s Laboratories, plus private equity fund Baring Asia, according to the publication.
Two private equity funds—Kotak Private Equity and Orbimed Asia—hold 23% of the biologics company, while the Daftary family owns the rest. The owners have hired Jefferies to manage the sale, but the discussions are in early stages. Price is considered a hurdle to the deal, according to industry experts cited by TET.
Bharat Serums and Vaccines has more than 900 employees worldwide and operates in more than 45 countries. Founded in 1971, the company sells meds in gynecology, assistive reproductive technology, critical care, neurology, nephrology and more. The drugmaker owns two subsidiaries: BSV BioSciences, a California R&D outfit working on early-stage development of recombinant molecules, and a German branch that manufactures and markets biological APIs.
Last year Mylan entered talks for a potential purchase of Bharat Serums, but the deal didn’t materialize.


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A SIX-week art show called Tonbridge Creates was launched in a pop-up shop on Angel Walk on Friday (February 23) ‘to show off Tonbridge’s rich artistic and creative community’.
A variety of workshops and events will be held until April 8. The opening weekend saw a free puppet-making class with Tonbridge-based theatre company Strangeface.
“Over 60 children took part and the shop was buzzing,” said Louise Knight (right), the creative force behind the project and co-founder of The Wheels on Debussy, which offers classical music experiences for children.
“We had feedback forms in the shop and they all showed what a positive impact the hub is having to the high street,” she added. “More workshops are being added all the time.”
Tonbridge Creates will feature a parent-and-child choir every Friday morning, further drop-in craft sessions for children, crochet workshops, doodling for adults, a Linocut workshop and a pottery painting class.
Louise said: “We want to prove that if you support your creative community, you can bring vitality and people back to a town’s High Street.
“Tonbridge is a hotbed of artistic and creative talent. There are so many groups and societies to join and also artists and crafters creating beautiful work.
“My dream would be for landlords to allow more pop-up shops. It would revitalise the town.”


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Herbalife (NYSE: HLF) has been hit by a short seller again. Earlier this year it was David Einhorn simply asking questions about the business. This time it is Bill Ackman calling Herbalife a pyramid scheme and laying out his case.
Pyramid scheme allegations are nothing new. Each time, Herbalife vehemently denies it is a pyramid scheme, and says it’s a legitimate company, with legitimate products, and a legitimate business opportunity. It is this “business opportunity” that merits the pyramid scheme allegations.
Herb Greenberg of CNBC has been researching Herbalife for a long time. Back in May, Greeberg pointed out the reasons he thinks investors should worry about Herbalife:


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In most industries it’s almost impossible to topple the dominant player once they’ve become established.
IT however, is not like other sectors of the economy. It’s a sector where the largest and most powerful companies need to innovate constantly, to focus on customer expectations and emerging technologies in order to maintain their pre-eminent position.
Our own trajectory from total outsider to number one in the logistics software sector in the course of six years demonstrates that market dominance is of no particular advantage in an industry where the only way a company can add to its value is to constantly innovate. Even the most powerful companies, which in other industries would have established an unassailable lead in the market, become yesterday’s heroes unless they find a way to not simply do what others are doing but to stay ahead of the current.
Yesterday we announced that our revenues grew 63 percent in the last 12 months, and that our customer base increased by 33 percent. This means there are now more than 90,000 ediEnterprise software licenses live across a customer community of more than 4,500 sites, in over 85 countries. Last month alone we signed on 54 new customers of all sizes, and now 21 out of the top 25 largest global freight forwarding and logistics operators use our software.
In the next 12 months we’ll aim to get this growth over 100 percent annualized, something which others say cannot be done, but we can see a clear path to achieving. We have taken pains to establish our systems, brand, market presence, technology and people to grow even faster.
In most industries a dominant player arises and stays in that position, because market dominance itself is an advantage. But anyone who’s been around for the last couple of decades knows that dominance is not a particular advantage in the IT sector. It doesn’t matter whether it’s IBM, or Microsoft, Apple or Kodak, the company is only successful for as long as it can continue to add value, innovate and change, otherwise it will become yesterday’s hero.
IT is an environment with none of the traditional barriers to entry, and as a result it will continue to create massive wealth and opportunity for anyone who’s willing to challenge conventional wisdom and look for ways to do things differently.
We are succeeding because unlike our competitors we long ago realized that being a global company had nothing to do with where we were located, but with whether or not we could create software which could be sold over the net, and quickly and easily installed by customers all over the world.
We realized that the transition from a national provider of technology to a global company was in fact a design problem not a geographical problem, and that our business would only ever be limited by the speed at which light travels through glass. So what used to require days of travel time, huge cost, pain and jetlag is now reduced to an internet latency of 200 milliseconds between Australia, the US and the EU.
But what’s important to remember is that none of this growth is a mistake or the result of some happy coincidence. We’ve grown to number one because we were able to look at where our competitors were, and choose a much more innovative path. We rejected the conventional business model and the idea of “best practice”, because by its application “best practice” actually trends towards average, and we wanted to be much better than that.
We’ve rebuilt our license model, adopted and offered cloud hosted systems and we’re now rebuilding our training and delivery mechanisms so as to make it even easier for customers of all sizes all over the world to adopt our software.
The bottom line is there is enormous potential for us, and that potential is reflected not only in our current position but in the way we constantly innovate and embrace change.
This industry will be the major catalyst for growth and change across the entire economy, we have embraced that culture of change and innovation and growth, and as a result we will continue to grow, this year, next year, and well into the future.
Richard White is CEO and Founder of CargoWise®
Media Contact: Lisa Tree, firstname.lastname@example.org


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Earlier in June, the FIATA Headquarters shared information with members about the nominations and elections process for the Presidency, Extended Board, and Chairs of FIATA bodies during this year’s General Meeting – to be held online on 18 November. More details concerning deadlines, processes, and statutory requirements – such as nominations due on 1 July – were included in this information. If an Association Member has not received these emails, please contact [email protected].
Association Members are reminded that they can only nominate candidates for these positions and vote in the General Meeting, if their membership fees for 2021 have been paid by 1 July. For questions, please contact [email protected].
FIATA’s Advisory Body on Legal Matters has developed a guidance note on the Terms and conditions applicable to the FIATA Multimodal Transport Bill of Lading (FBL) and their interaction with standard trading conditions (STCs) developed by FIATA Association Members, to provide some clarification on the role of each of these governing terms. Their scope of application differs and the relation between one another can significantly vary from one jurisdiction to another.
The guidance note, available on the FIATA website, can provide valuable insights for the freight forwarding industry. FIATA members remain advised to enquire with their national associations whether they are potential conflicts between the STCs and FBL terms and conditions, and which rules should prevail.
On 2 June, FIATA took part in a webinar on disaster response management organized by the World Customs Organization (WCO) Academy as special guest speaker representing the voice of the private sector, alongside the WCO. Almost 300 participants were in attendance, approximately 70% of which were customs administrations around the world. FIATA Director General, Dr Stéphane Graber, recognized the key role played by customs in international trade and in disaster situations, as a key interface for essential goods. Drawing from lessons from COVID-19, he also stressed the crucial role of continuous dialogue between customs administrations and industry stakeholders at all times as an important prerequisite to readiness in times of disaster, and welcomed the WCO's efforts to ensure close and continuous engagement with the private sector through the WCO Private Sector Consultative Group in which FIATA actively participates.
The webinar provided a valuable opportunity for FIATA to directly represent the voice of the freight forwarding industry to customs administrations around the world. Crucially, it provided the occasion to underline the importance of inclusive and pragmatic AEO programmes for companies of all sizes, noting the value of trusted trading partners in being able to deal with times of crisis. In addition, the webinar addressed the importance of a number of WCO tools and instruments, experiences around the import and export of relief consignments globally, and the crucial need for coordinated border management and capacity building available for all relevant stakeholders.
On 8 June, FIATA participated in a panel at the Supply Chain + Logistics Forum to discuss ‘The Freight Markets: Latest Developments’. FIATA Director General, Dr Stéphane Graber, addressed the key developments taking place in today’s freight market, in the context of a severely disrupted maritime supply chain, with critical container imbalances, high levels of blank sailings, and rocketing freight rates, exacerbated by the COVID-19 pandemic. In particular, he highlighted that in this context freight forwarders and their SME customers are more exposed to high price volatility and unreliability and need to consider how these risks can be best managed.
The panel provided a valuable opportunity to underline how FIATA is currently working to drive greater stakeholder cooperation and dialogue in order to develop solutions to optimize the supply chain through digitalisation and more effective data exchange. In addition, Dr Graber noted that there is an increasing demand for rail freight from Asia to Europe. Silk Road train trips have increased exponentially while demand is also increasing in other parts of Asia such as Thailand and other countries in South East Asia. All this requires multilateral cooperation and a strong international legal framework. FIATA works at the international level towards the harmonisation and strengthening of the underlying legal framework and the international recognition of a multimodal transport document such as the FIATA Multimodal Transport Bill of Lading. Finally, the forum also addressed how emission controls would affect the freight market prices, the factors influencing the supply in freight markets, and the direction for markets in the short term and long term.
The eFBL proof of concept is almost done
The electronic FIATA Bill of Lading (eFBL) proof of concept has now entered its final stage. There are 6 software providers (AKANEA, CargoX, CargoWise, eCustoms, eDox Online and TradeWindow) currently testing the implementation of the eFBL solution, along with 20 participating freight forwarding companies. The tests will allow evaluation of the full eFBL lifecycle: from the creation of the document through the participating software providers, to the verification of the eFBL by the different stakeholders – accessing the document audit trail. The tests will continue running throughout June-July and the results from the proof of concept will be shared this summer.
Launching the FIATA Connect series
A new webinar series called FIATA Connect will provide far-reaching insights on cutting-edge practices to assist logistics professionals in better navigating the industry. FIATA Connect will be launched in July exclusively for members, with four editions planned over the year, and will feature leading experts in the logistics and supply chain sector.
The first FIATA Connect edition, organized under the auspices of the Working Group Sustainable Logistics, will take place on 1 July at 9:30-10:30 CEST and address ‘Greenhouse gas emission calculators and standardization processes: Perspectives for the freight forwarding sector’. Andrea Schoen, Head of Business Sustainability and Customer Consulting at DB Schenker, will speak about this process and what it means for the industry. Register for this event now.
FIATA and ICHCA will renew MoU
FIATA and the International Cargo Handling Coordination Association (ICHCA) will hold an online signing ceremony to renew their Memorandum of Understanding (MoU) on 29 June at 15:30 CEST. This MoU is an important step towards reinforcing the collaboration between the freight forwarding and logistics actors connected to cargo handling throughout international supply chains.
FIATA and ICHCA will accede to have a programme of cooperation, which will include agreed actions and initiatives (meetings, sharing of information, ad hoc task forces, etc.) to enhance their impact on issues where both organizations have common interests. Before the MoU signing ceremony, there will be a discussion with the presence of FIATA President, Basil Pietersen, and ICHCA Chair of the Board, John Beckett, and other interested stakeholders. The MoU signing ceremony is open to all interested FIATA members. To register, submit your interest at [email protected].


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Clariant showcases innovative solutions for food and beverage producers in China at FIC 2018
- Clariant will take part in Food Ingredients China (FIC) 2018, the largest annual fair representing the food industry in China
- VITIPURE® solutions tailored to local market needs will be officially launched in China
- Improved nutrition, stability and sensory can be achieved through Clariant's VITIPURE solutions
Shanghai, March 12, 2018 – Clariant, a world-leader in specialty chemicals, will take part in the Food Ingredients China (FIC) 2018 exhibition to be held at the National Exhibition and Convention Center (Shanghai) on March 22-24, 2018. Clariant will launch its VITIPURE solutions that are designed and developed to meet local needs of the Chinese food and beverage market.
The ever-improving living standard in China, coupled with a fast-expanding middle class has risen consumer expectations. Perceived quality is a combination of factors such as taste, texture, presentation in addition to safe and healthier products, therefore national food and beverage producers are called to respond fast to this transformation. This is where Clariants VITIPURE solutions can play a distinctive role.
Clariant will unveil for the first time to the Chinese market its first 9 VITIPURE solutions developed for the Chinese dairy- and dairy alternative-industry. Among the featured products at the show VITIPURE ST 1464 extends the shelf-life of low temperature fermented milks by assuring a homogeneous texture over time despite the temperature fluctuations occurring during the supply chain of these products. Low temperature fermented drinks with VITIPURE ST 1464 look and taste as fresh as the first day produced.
On the topic sugar reduction, two products branded under the VITIPURE SR will be showcased during FIC 2018. Being fully natural, both solutions enable food producers to remove sugar from their products while keeping sweetness without off-flavors.
"Having successfully helped the food and beverage producers in other countries to improve their products in nutrition, sensory and taste through a distinguished combination of food science and customer interaction – mixing science with creativity-, we are very motivated together with our partner Nantong Alchemy Biotech Development Co. Ltd to now support the Chinese food industry", said Despoina Ioannidi, Head of Business Development Food Ingredients China.
Organized by the China Food Additives & Ingredients Association (CFAA) and the CCPIT Sub-Council of Light Industry, Food Ingredients China (FIC) is an international annual trade show focusing on food additives and ingredients. During the three-day show from March 22-24, Clariant will exhibit its products and solutions at booth no. 52Q30/52R31 at the National Exhibition and Convention Center (Shanghai).
VITIPURE® IS A TRADEMARK OF CLARIANT REGISTERED IN MANY COUNTRIES.


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Ridgeview High School’s Annual Food Drive was HUGE SUCCESS!
On Friday December 14th, the Ridgeview High School students ended the Annual Food Drive with the Winter Wonder Can competition. Each of our mentoring classes have been preparing since before Thanksgiving to compete in this year’s event. We had 21 classes build a Winter Wonder Can Display with the items they donated for the Colfax Food Pantry. This year the students demolished last years’ item total by over 2100 items. They collected 5409 items this year. We would like to thank all that helped donate to this year’s food drive .
The winners of the Contest were as follows:
Most items from a High School Class : Mr. Owsley ( 304 items)
Most items from Junior High Class: Mr. Ruiz ( 844 items)
Best Creativity in building High School : Mr. Leinweber
Best Creativity in building Junior High: Mrs. Kennedy
Best Over All: Mr. Ruiz


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Tesla’s Autopilot Level 2 autonomous driving system has been out for about a week now, and you knew it was only a matter of time before drivers started posting their videos.
Autopilot uses radar and camera sensors to detect the distance to cars in front to judge speed and brake, while monitoring the white lane lines to guide it round corners. However, some early adopters have posted hair-raising videos of Model S cars veering into traffic while their hands were off the wheel.
Tesla stressed during the Autopilot press conference that drivers should remain in control of the cars at all times, and the videos below will show you why it’s important to keep your hands on the steering wheel.
Most of this first clip is uneventful, but a near-miss occurs towards the very end. The driver keeps Autopilot engaged while driving on an exit ramp, and it appears the Model S continues to drive straight instead of following the ramp to the left.
Maybe the turn was too sharp for Autopilot or the on-board cameras were confused because the white lines on the left side of the street come to an end, but the driver was heady enough to quickly grab the wheel to avoid an accident.
In this next clip below, which was uploaded to YouTube by user RockStarTree, the car begins to veer from its lane. Luckily there is no oncoming traffic, so nothing happens. But then another car comes and the driver almost hits it. RockStarTree says, had he not reacted quickly, a head-on collision would have occurred. Here’s his explanation:
“I can only guess at what happened next. My car apparently thought the oncoming car was supposed to be followed, and suddenly veered to the left, crossing the double-yellow road divider line right into its path. Shortly after that, another car was coming in my car’s direction from the opposite side of the road. I admit I started to ignore the warning to keep my hands on the wheel so that I could record the moment to share with friends. That’s when all hell broke loose.”
In this final clip, the incident starts at 2:42. The road bends to the right, but the Tesla Autopilot appears to be driving the car straight. The driver quickly takes control after a little scare.
Tesla founder Elon Musk has admitted Autopilot is still in a beta-testing phase, so some glitches are to be expected. These clips should also serve as a reminder to Tesla drivers that Autopilot isn’t intended to turn Tesla’s into self-driving cars, and that plenty of human intervention is still needed. It’s also confirmation that Tesla Autopilot has been overhyped.
Tesla Autopilot will soon be rolled out to markets outside the United States, including Europe and Asia, once regulatory approval takes place.