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SPECIAL: Dubai's tourism sector bounces back
As they say, if things have gone so bad they can only get better, and rightly so. The hospitality sector, after having taken a strong hit in the global financial slump, is on the recovery path, according to industry experts.
Dubai is a strong example of that. The emirate's hotels, which saw room rates drop to almost 60 per cent over the last year, are expected to see a pick-up in rates by end-2011, according to hospitality consulting firm CBRE Hotels. Dubai had the 16th most expensive room rates in the world last year, according to consultancy Hogg Robinson Group.
Latest numbers show that Dubai hotels recorded the highest RevPAR (revenue per available room) – an industry benchmark – in the world as of March 2010, according to Deloitte analysis of selected STR Global hotel performance data for the Middle East.
The emirate's RevPAR during this period was $199.24 (Dh731.6), comparable to $200.82 during the corresponding period in 2009. It further said the emirate witnessed occupancy levels of 79 per cent during the same period, compared to 71.6 per cent in the corresponding period in 2009, reflecting a growth of 10.4 per cent.
Clearly, the positive numbers bucked the overall downward trend for the Middle East as a whole. According to recent STR Global data there are 60,000 hotel rooms in Dubai, with 30,000 more in the pipeline.
Industry body STR Global recently said Middle East hotels posted the highest occupancy, room rates and RevPAR in the world last year despite it being one of the toughest years.
Alex Kyriakidis, Global Managing Partner of Tourism Hospitality and Leisure at Deloitte, said although the global economic crisis exacerbated the decline last year, hotels in Dubai and across the UAE achieved some of the "strongest average room rates and RevPAR" globally.
According to Khalid A bin Sulayem, Director-General, Dubai Department of Tourism and Commerce Marketing, tourism in Dubai has grown in the first quarter of this year. He said the number of guests at hotels and short-stay apartments reached 2,095,883 in the first quarter against 1,995,018 for the same period last year, registering a rise of five per cent.
All these factors have once again managed to lure some of the biggest names in the hotel industry to make a comeback at this year's Arabian Travel Market, which begins in Dubai today and runs until May 7.
DTCM positions Dubai as world's top tourist destination
The fast emergence of Dubai on the world tourism map and its spectacular performance is undoubtedly the result of aggressive global marketing and promotional agenda being pursued by the Department of Tourism and Commerce Marketing (DTCM).
The department, in co-operation and co-ordination with public and private sector organisations, has been successfully developing the appeal of the destination that offers tourists the opportunity to explore traditional Arabian hospitality along with a contemporary lifestyle.
Continuing its aggressive marketing and promotional drive in 2010, DTCM will be highlighting the strengths and attractions of the emirate's vibrant tourism industry in 36 overseas travel exhibitions and hosting exclusive road shows and workshops in 10 countries.
The DTCM Director-General Khalid A bin Sulayem said: "Dubai's tourism product offering has considerably expanded last year and more changes are expected this year. Last year, the global tourism industry too underwent rapid changes due to the global economic downturn, requiring fast-rising destinations like Dubai to adopt strategies to remain at the cutting-edge of the highly-competitive business."
Further highlighting the department's vision, Bin Sulayem said it is "to position Dubai as the leading tourism destination and commercial hub in the world" and that DTCM's mission is "to strengthen the Dubai economy through the development of sustainable tourism".
PROMOTING BRAND DUBAIi
Clearly, the growth achieved by the Dubai tourism industry and huge inflow of foreign investments in different economic segments reflect the department's constant efforts to enhance the image of and awareness about Dubai.
The department has come a long way since it was established in January 1997, replacing the Dubai Commerce and Tourism Promotion Board (DCTPB) that existed for nine years.
Dubai embarked on the long journey to achieve the long-term goals of the emirate in a big way and established six overseas offices within seven months of the DCTPB's inception in 1989.
The DTCM is the principal authority for planning, supervision and development of tourism in Dubai. It currently oversees the licensing of hotels, hotel apartments, tour operators and tour guides.
The department also manages heritage sites and visitors' information bureaus and the region's first and only dedicated cruise terminal, which has been expanded further to accommodate four cruise ships simultaneously from the 3,450-square-metre facility from February 2010.
According to the DTCM data, hotels and hotel apartments in the emirate played host to 7.58 million guests in 2009, up by one per cent compared with the previous year's figures, reflecting the unfaltering global interest in Dubai as a year-round business and leisure destination.
INCREASE IN HOTELS
Dubai also witnessed a 10 per cent increase in the number of hotels and hotel apartments, which totalled 540 last year, compared with 493 the previous year. Similarly, the total number of hotel rooms and hotel flats went up by 22 per cent to reach 61,487 units in 2009 compared with 50,457 units in 2008.
In 2009, hotels guests numbered 6,105,813, while it was 1,477,266 guests for the hotel apartments. The total number of hotels now stands at 352, while 188 is the total number of hotel apartments. The hotel room inventory went up to 43,419 in 2009 compared with 37,261 in the previous year. Total hotel apartment flats stand at 18,068, up from 13,196 in the previous year.
The top three source markets for Dubai – the UK, India and Iran, meanwhile, accounted for 714,877, 529,536 and 476,120 guests respectively in 2009. Saudi Arabia stood at fourth position with 414,482 guests, while the US and German guests numbered 395,390 and 283,319, respectively. Among the top 20 source markets were Pakistan, Russia, Kuwait, Oman, Australia, France, Egypt, Italy, the Philippines, Canada, China, Qatar, Lebanon and Jordan, according to DTCM.
According to the latest global performance report released by the London-based STR Global, Dubai secured second position among the 15 markets reviewed in the average room rate category between January and October with $229 (Dh841). Paris topped the list with Tokyo, New York, Rome and London trailing behind Dubai.
As for the RevPAR, Dubai bagged third position globally with $155 during January-October 2009, next only to Paris and New York. Tokyo, London, Rome and Hong Kong were next to Dubai on the list.
The DTCM's promotions and marketing initiatives, taken up in co-operation with hoteliers and tourism industry professionals have contributed enormously in achieving high growth and keeping the tourism economy robust.
"We remain positive and proactive and are moving forward with confidence and positive approach as Dubai gains solid ground as a year-round business and leisure destination," said Bin Sulayem. Long before the global financial crisis, the department created a task force with experts and representatives of Dubai tourism industry players, to review market trends and take appropriate measures.
Other promotional moves by the DTCM include its having conducted the "Keep Discovering Dubai" familiarisation programme in co-operation with Emirates airline, DMCs and hotels, for about 2,000 tour operators, travel agents and media representatives from about 60 countries over a three- month period in 2009.
The DTCM further launched "Kids Go Free" promotion from July to September 2009 as part of its summer season promotions to boost the number of visitors to the emirate.
In 2010, however, this promotion's duration will be five months – from May to September – and the number of hotel establishments participating in the drive has also increased, DTCM said.
RISING FOCUS ON MICE SECTOR
The department's aggressive marketing agenda for this year is also focused on the high yielding meetings, incentives, conferences and exhibitions (Mice) sector, for which the Dubai Convention Bureau (DCB) was launched in March 2003.
In order to strengthen its competitive edge in targeting the meetings market, DCB has formalised the Dubai Bid Alliance (DBA) to offer a comprehensive package of necessary products and partners to prospective congress event organisers.
The convention bureau said the number of leads it had generated for Dubai stakeholders is larger than before and will continue to grow. During January-November 2009, the DCB generated 62 congress leads with an estimated economic impact of Dh362 million for Dubai. Currently, it has 16 active large congress bids with potential attendance totalling more than 38,000 delegates.
In 2010, the DCB team is expected to be working with all of DTCM's partners in strengthening business tourism as a major foundation in the tourism sector. Finally, the DTCM is to present the first Dubai Green Tourism Awards launched last year, in the first half of 2010. The initiative publicly recognises DTCM's local stakeholders for their environmental strategies and performance.
Expanding tourism portfolio to get grand stand
The 17th edition of the Arabian Travel Market, or the ATM, will see the Department of Tourism and Commerce Marketing (DTCM) hosting 112 buyers this year (as against 105 last year), at its stand at the exhibition measuring 1,225 square metres (compared to 1,152 sq mt) housing 87 booths and 114 co-participants.
The DTCM said it would be making a spectacular showing of Dubai's expanding tourism industry portfolio at the show. The Dubai Stand (UAE 2300) is located in Hall 3 of DICEC.
While the first three days of the show will be exclusively for the travel and tourism industry professionals, the concluding day – May 7 (Friday), has been reserved for general public.
The world's third-biggest travel and tourism fair is being held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, and the auspices of the DTCM.
The DTCM Director Overseas Promotions and Inward Missions, Saleh Mohammed Al Geziry, said the number of booths and corner areas of the stand have also been increased – from 78 to 87 and from four to seven, respectively.
The government entities participating at the Dubai stand are Roads and Transport Authority (RTA), Dubai Summer Surprises (DSS) and General Directorate of Residency and Foreigners' Affairs (GDRFA).
During the ATM 2010, presentations will be carried out by GDRFA, RTA and Dubai Convention Bureau (DCB), which will be open to the Dubai stand co-participants, DTCM said.
It added that representatives from each of the DTCM's 18 Overseas Representation Offices will also be on hand to support the Dubai co-participants on the matters pertaining to their respective countries.
Tourist spend in UAE to increase 18%
The tourism spend in the UAE is set to increase to Dh32.4 billion by 2014, up 18 per cent from 2009's spend of Dh27.5bn, as predicted by Euromonitor International, the global consumer market analyst firm.
Its data further reveals that while the spend will increase by Dh4.9bn, the overall visitor numbers will grow by more than 19 per cent by 2014. Most tourists are said to be coming from markets such as Saudi Arabia, India and the UK.
In terms of UAE visitor numbers, meanwhile, the UK will make up the largest number, increasing from a little more than one million in 2009 to 1.2 million by 2014, according to the Euromonitor report.
Caroline Bremner, Global Travel and Tourism Manager, Euromonitor International, who is due to unveil the full report during the ATM 2010, said: "Faced with a global economic crisis of epic proportions, the Middle East has suffered a slowdown in travel and tourism demand from key source markets.
"With continued investment in infrastructure, and strategic vision in place, the region continues to offer growth opportunities. However, a greater commitment to diversification would ensure the region can meet its full potential."
What top industry officials have to say about ATM 2010
The Arabian Travel Market is a very important event for the hotel industry in this part of the world, and certainly for the Jumeirah Group. I am very pleased that the event has managed to grow year on year. It is very encouraging and important for us
Gerald Lawless, Executive Chairman, Jumeirah Group
For Starwood, ATM gives us the opportunity to meet with our existing partners and to network with travel professionals from around the world to see how we can work together and create new business opportunities that benefit all parties
Guido De Wilde, VP, Regional Director,Starwood Hotels & Resorts Middle East
It is one of the major travel shows and we have been extremely pleased with the outcome of previous years. Traditionally, ATM has provided a good opportunity and focus for securing business across the summer period and we anticipate that this will be the case again this year
Marko Hytonen, Area Vice-President,Rezidor Hotel Group
This year's event is as important as ever. We face a new reality on pricing but the Middle East has a fantastic product to offer and we must work together to drive market share in the region. I see some business deals taking place during this show
Darroch Crawford, Managing Director,Premier Inn Middle East
The ATM provides us with a great sales opportunity. It is a forum to showcase our achievements like new openings, innovative products and promotions, as well as strengthen our partnerships. The Middle East is leading in recovery of the travel and tourism sector
Julien Bonafous, Director of International Sales, Hilton Worldwide, UAE, Bahrain, Kuwait, Qatar and Oman
We are delighted to participate in ATM for the second year in a row. This year we can showcase the success we have achieved in our first operational year and our near-future plans to the thousands of ATM visitors
Abdulsalam Al Bahar, Chairman & MD, Wataniya Airways
ATM has an established audience already and we are still positive on business opportunities from this exhibition. We certainly hope to bring our products and services closer to our customers and continue to get good leads out of our exposure during this year's show
Martin Massüger, Director, Head of Sales,
Middle East and Africa, SWISS
Arabian Travel Market is a one-stop-shop for the world of travel and tourism. This year there will be a heavy focus on recovery but compared to the last couple of years we will be looking to positive growth rather than how to cope and ride out the downturn
Mark Walsh, Group Exhibition Director, Reed Travel Exhibitions (ATM organisers)
The travel and tourism industry in the region has bounced back after the slowdown and we expect this year's ATM to be a success. ATM is an excellent platform to network with the industry leaders, strengthen relationships and establish new business contacts
Tarique Khatri, Vice-President - Business Development, Cleartrip
With the demogra-phics and business opportunities that the Middle East offers, ATM serves as an important event for the travel and tourism industry. For sure, we are looking at closing and announcing new business agreements in addition to generating new leads from the expo
Antoine Medawar, Vice-President, Amadeus Mena
Positive trends already visible in tourism sector
With the belief that the worst is over for the hospitality sector, Marc Dardenne, Chief Executive Officer, Emaar Hospitality Group and Emaar Hotels & Resorts, says Dubai is well on its way to recovery.
How do you think this year's ATM will perform... given the slowdown in the travel/tourism trade?
The Arabian Travel Market is an important event in the region's tourism and hospitality calendar. We believe that the worst is over for the global tourism business and we are already witnessing positive trends – both in terms of travel statistics and occupancy levels.
Dubai is now a preferred tourist destination for several new and emerging markets in the Mena region, the Indian Subcontinent, China, and Europe. The expansion of regional airlines, including Emirates, to new destinations is another catalyst for the tourism and hospitality sectors. We are confident that ATM 2010 will have a robust turnout, both in the number of visitors and participants.
Do you see major business deals taking place during the ATM ?
The Arabian Travel Market is a premier event that the hospitality and travel industries await for key announcements and business deals. We expect the same momentum this year also.
Do you expect to sign any business deals at this year's ATM?
As the hospitality provider of Emaar, we complement the company's strategy of developing integrated lifestyle developments.
Emaar Hospitality Group will partner in Emaar's hospitality development in all its key markets. We remain open to growth opportunities that will potentially be showcased at ATM 2010.
What would the ATM mean for your sector this year?
The Arabian Travel Market will bring together leisure and hospitality organisations from around the world. This event gives everyone in the industry the opportunity to network, learn about new trends and plan for the future.
What is the impact of the global crisis on the travel sector? When do you see a recovery taking place?
Like all global economies, the Gulf was also impacted by the challenges of the economic crisis. Tourism and hospitality – two of the main drivers of the economy – naturally faced unprecedented challenges. However, Dubai's hospitality sector recorded a promising year in 2009. In fact, the industry consolidated its experience to better its product offerings and enhance service standards.
The overall indicators were also robust with the Dubai International Airport welcoming more than 40 million visitors last year. Already the trends of a positive revival are evident. According to a recent report by Euromonitor International, tourism spend in the UAE is set to increase by 18 per cent from Dh27.5 billion in 2009 to Dh32.4 billion by 2014 and visitor numbers are expected to grow by 19 per cent.
What are your views on the performance of the Middle East hospitality sector in 2009? How do you project 2010 to turn out for the region's travel trade?
With tourist arrivals from Europe, the GCC and Indian Subcontinent, and corporate travel increasing, the hospitality sector is expected to be positive this year.
The Address Hotels + Resorts recorded high occupancy levels, and we are looking at positive growth through 2010. The population of Dubai grew 7.8 per cent to 1.7 million last year and passenger traffic at Dubai airport crossed 40 million – factors are indicative of the confidence in the sector.
The World Travel and Tourism Council estimates that tourism in the Gulf is set to expand considerably at an annualised average growth rate of 5.2 per cent during 2010-2012.(Shweta Jain)
Around the world in 30 minutes with Emirates
Emirates Group will once again this year make its presence felt at the Arabian Travel Market in a strong way at its rotating Emirates Globe stand. At 9.5 metres high and with a circumference of 65 metres, it is poised to be a star attraction at the show.
Visitors to the stand will have the opportunity to sample the industry-leading First Class Suites onboard Emirates' 777-200LR, 777-300ER and A380 aircraft in a specially recreated cabin area, while the stand will also take guests around the world in 30 minutes as the entire three-storey structure slowly rotates a full 360 degrees.
As Emirates, the official airline of the 2010 Arabian Travel Market (ATM), marks 17 years as a loyal supporter of ATM, the colossal structure has been rejuvenated with some exciting new features for 2010 – a year in which the airline has already confirmed the addition of six new routes to its network of more than 100 destinations.
Emirates said its fleet of 146 aircraft is expanding almost monthly, with the ongoing delivery of $49 billion (Dh179.83bn) of aircraft on order, while its network is growing at a similar pace, with Prague (July 1), Madrid (August 1) and Dakar (September 1) following the May 1 launch to Amsterdam, which came just over a month after the airline's inaugural flight to Tokyo.
Richard Vaughan, Emirates' Divisional Senior Vice-President, Commercial Operations Worldwide, said: "Emirates has emerged from a challenging period a leaner and stronger operation and as we focus on expanding our network with new routes, we see ATM as a tremendous opportunity to raise awareness of these destinations. Emirates is committed to the consolidation of Dubai's status as a world-class tourist destination and business hub, and as the largest aviation and travel services player in the region, we are proud to be playing a part in the ongoing success of ATM."
Showcasing some of the Emirates Group's most exciting new developments, the Emirates Globe will include three zones. One is devoted to Al Maha Desert Resort & Spa while another to its sister conservation-based destination, the recently opened Wolgan Valley Resort & Spa in Australia, which is also managed by Emirates Hotels & Resorts. The third area will focus on Emirates airline's products and services.
The Emirates Globe will also house private business meetings.
Dubai sails ahead with cruise tourism
Having established a strong foothold in cruise tourism in a short span of time, Dubai is today sailing at a high speed with its new Cruise Terminal on board to become the Middle East's ultimate cruise destination.
"Cruise tourism plays a crucial role in the overall growth and development of the tourism industry in the emirate. We realised its importance long ago and created the infrastructure and services that were needed to tap its potential. The new terminal will meet the increase demand that has been recorded in cruise tourists to Dubai," said Department of Tourism and Commerce Marketing (DTCM) Director-General Khalid A bin Sulayem.
HIGH GROWTH AHEAD
In 2010, Dubai is expected to host 120 ships at its new Cruise Terminal, which was launched earlier this year, with more than 383,000 passengers, according to the DTCM. Last year, meanwhile, saw 87 ships and 261,000 passengers pass through Dubai's Port Rashid Terminal.
It thus comes as no surprise that Dubai's cruise tourism market is estimated to grow 77 per cent by 2015, as per the DTCM's estimates. As Hamad Mohamed bin Mejren, Executive Director, Business Tourism, DTCM, recently told Emirates Business: "By 2015, we are estimating 195 cruise calls or 575,000 passengers to head to our shores.
"To achieve this growth, we have invested in our infrastructure by building a state-of-the-art cruise terminal. Alongside, we are also working closely with Abu Dhabi, Fujairah, Muscat and Bahrain to offer better port facilities, which will ultimately draw more ships and more tourists to this region."
He said since the launch of the new Dubai Cruise Terminal in February 2010, the DTCM expects a good 30 per cent growth in business compared to last year.
Meanwhile, Costa Cruises alone carried 146,000 passengers to Dubai in the 2009-10 season, and in 2010-11 the number should reach 150,000, according to Pier Luigi Foschi, CEO and Chairman of Costa Cruises. He told this newspaper in a recent interview: "With our four-year-partnership with DTCM, we are boosting our presence in the Gulf by bringing more ships to Dubai. We expect a 40 per cent increase of our guests cruising to Dubai in 2010, with an estimated economic impact of €14 million (Dh68.82m) for the city."
Dubai's position as an up-and-coming cruise destination was reinforced at the World Travel Awards in May last year when Port Rashid Cruise Terminal won the award for Middle East's Leading Cruise Port 2009. Dubai Cruise Terminal is said to be the only cruise terminal in the world operated by a government department of tourism, which means it can provide extra attention to every visitor and enhance the experience including certified tour guides and a swift entry system with no visa issues for visitors, DTCM said.
GLOBAL CRUISE LINERS
With its growing cruise business, Dubai has been successful in attracting a number of esteemed global cruise liners, including the likes of Costa Cruises, Royal Caribbean International, Aida Cruises and Sea Cloud Cruise liners.
Laying focus on the emirate's cruise tourism expansion plans, bin Mejren said Dubai has successfully drawn a record number of passengers from Germany, Britain and Italy.
The DTCM's long-term strategy, however, includes targeting emerging markets such as China, India and Brazil. As bin Mejren puts it: "The idea now is to expand on that base and target emerging markets such as China, India and South America, specifically Brazil. It is important to focus on those destinations that have daily flight connections with Dubai, to facilitate the tourists."
While the Hamburg, Germany-based Sea Cloud Cruise liners is close to setting sail for Dubai shores, Italy's Costa Cruises recently set up a regional office in Dubai with an aim of targeting Dubai's growing cruise tourism market.
Florida-based Royal Caribbean International (RCI), too, is currently weighing the possibility of setting up a hub in the emirate. RCI also recently revealed plans to set up a Dubai-Mumbai cruise route next year, as the cruise liner docked the ship, Brilliance of the Seas, in Dubai in January this year.
In addition, Royal Caribbean International announced a joint initiative with entertainment complex Dubailand, a mixed-use theme park, due to begin in time for Brilliance of the Seas' arrival in Dubai. Under the agreement, both parties will work together on strategic marketing and promotional activities to further boost the cruise industry's presence in Dubai.
In a recent survey, approximately 80 per cent of the cruise passengers in Dubai revealed they would extend their visit to the emirate during their next visit and 95 per cent said they would recommend others to visit Dubai to enjoy its all-appealing facilities, pristine beaches and unparalleled shopping options.
Located at the crossroads between east and west, Dubai has the location and the facilities to match; offering the epitome of luxury in a holiday, which truly offers something for everyone.
Follow Emirates 24|7 on Google News.


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COD Mobile Season 10 is almost halfway through and after a series of leaks, there is official confirmation of a legendary character coming to the game later this month. This is going to be the first season of COD Mobile that will witness the launch of a mythic weapon and a legendary character.
Legendary Outrider has been officially announced with a teaser and along with the Outrider, players will get a legendary secondary weapon. While Thumper is the absolute favorite this season, players will have a chance to pull a legendary Crossbow in the same lucky draw that will bring the legendary Outrider.
The date of the draw has not yet been announced but players can expect it to drop anytime later this week.
Legendary Outrider coming soon to COD Mobile Season 10
Leaks from multiple dataminers have already given out the general profile of the legendary Outrider, but players can now see the complete look of the operator in-game. The Outrider sports a futuristic design and has a digital eye patch on her head. All the legendary items in the draw have the same blue, white and gray coloration, making them a complete set.
Along with the Outrider will be the legendary crossbow and Sparrow operator skill. This is the first legendary operator skill that players will have to purchase. The first ever legendary operator skill was the H2O Purifier and it was released for free back in 2020.
The rest of the items in the draw have not been leaked yet but players can expect them to drop soon. The leaked trailer also suggests that battle royale fans will get a motorcycle skin in the Techno Aim Draw, which is expected to be the name of the legendary Outrider drop. This entire lucky draw is expected to drop this Friday, December 10.
Players can expect another lucky draw to be released before the season concludes and COD Mobile officially enters the holiday season to celebrate Christmas and the upcoming New Year in the game.

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The National Sports Card show in Chicago this weekend was highlighted by a card that many said they never even got to lay eyes on – a T206 Honus Wagner – which at the end of the day sold for a whopping $6.6 million.
The nearly seven million made it the most expensive sports card sold in the last two years in a market that suddenly has made a huge comeback after being somewhat dormant for years.
How popular is the Wagner card to real collectors? It’s known as the “Holy Grail” or “Mona Lisa” of sports cards, as there are only about 60 Wagner cards in existence.
“It’s just cold cardboard,” said Michael O’Keeffe, who co-wrote a book on the T206 Wagner.
“There’s no tangible value to it other than what someone is willing to pay.”
The Wagner card came out 112 years ago in 1909, a time when various tobacco companies would put cardboard cards of players in their product.
It was actually a way to protect the nicotine products, if you can believe that, and the cards were really an afterthought to those who purchased the tobacco products.
The set that includes the Wagner card contains 524 different illustrations, some with the same player in more than one pose.
There are more than 4,200 Ty Cobb cards from the series that have been graded, but there are only a few dozen Wagners known to exist. And apparently, they fetch a steep price.


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Argentina's Foreign Ministry refuted an article by Brazilian newspaper Valór Económico reporting that negotiations between Mercosur and the European Union had been delayed by the failure to reach agreement with Argentina over a joint proposal of goods to include in a free trade agreement
“Argentina comprehensively denies the biased article published by Italian agency ANSA (originally by Valór Económico),” the news release opens, proceeding to counter the claim by contending that “the delay of the meeting scheduled for December, as Brazilian Foreign Minister Luiz Alberto Figuereido announced, was down to the request by European Commissioner for Trade Karel De Gucht to Figuereido at the World Trade Organization’s ministerial summit in Bali” Indonesia.
Indeed, on December 12, Cabinet Chief Jorge Capitanich told journalists of his surprise at such a request by the EU, which came as a new setback to negotiations dating back to 2010, when talks, which actually began in the 1990s were resumed.
Last year was meant to finally be one for progress, as the trade blocs faced a December deadline to present their proposals.
Tension over the sluggish nature of negotiations have been marked by flying accusations of protectionism back and forth, which the Foreign Ministry resurfaced: “Argentina reiterates its profound concern over the escalation of European protectionism, as is the case in anti-dumping policies on Argentine biodiesel, or the unilateral termination of benefits associated with the Generalized System of Preferences, which have deepened the traditional scheme of tariff and non-tariff restrictions that the European Union applies to our countries.”
“The Argentine Republic has met all the commitments taken up by the partners in the framework of this negotiation and has an ambitious offer in terms of goods, services, investments and government purchases,” the release states.
One of the peaks in tension between Argentina and the EU came in December of 2012, when De Gucht blamed “Argentina’s behavior” for the lack of progress in negotiations.
Proceedings have stumbled repeatedly over disagreement about Mercosur access to European manufactured goods and EU access to Mercosur agricultural products due to high European farm subsidies.
The main contention by Valór Económico refuted by minister Timerman is that the Brazilian government failed to engage in bilateral talks with the Cristina Fernández administration over the presentation of a single list.
Moreover, the article cited a Brazilian proposal to eliminate tariffs for up to 87% of products imported from the EU, contrasting Argentina’s alleged offer of 80% liberalization.
According to the newspaper, the issue could be discussed by Brazilian President Dilma Rousseff and her Argentine counterpart at the Mercosur summit in Venezuela on January 31.
The article also played down rumors that Brazil has become exasperated with the alleged Argentine obstacle and could proceed to establish an FTA with Europe on its own.


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We’ve known for a while that the next big game in the Sonic the Hedgehog franchise is racing our way in 2022, but now we may know what it will be called. A later-retracted press release originally identified the mystery 2022 game as “Sonic Rangers,” but it seems that may have changed, as Sega has registered a new trademark for “Sonic Frontiers.” Interestingly, this jives with a recent 4chan rumor that stated the game’s name had changed to Sonic Frontiers, would be an open-world game similar to Breath of the Wild, and was coming together surprisingly well. Of course, 4chan is always a sketchy source, but the fact that Sega has actually trademarked Frontiers may lend the rumor some extra credence.
Very little has been officially revealed about the 2022 Sonic game, although previous rumors have also pointed toward a more open-world approach, inspired by Nintendo’s Zelda BOTW. For his part, longtime Sonic producer Takahashi Iizuka says he hopes the game has the same influence and lasting power as Sonic Adventure did 20 years ago…
The new title in development is progressing towards a 2022 release, so I can’t really call it an Anniversary title. However, Sonic Adventure laid the foundation for 20 years of Sonic titles after its release, so in the same way I really hope that this new title releasing in 2022 lays the foundation for the following future Sonic titles – that is the idea behind the challenge for the team.
That’s a lofty goal, and given the very mixed quality of Sonic’s games over the past 20 years, I’ll just say, good luck. But hey, at least they have a solid name lined up – if it does end up being the real title, Sonic Frontiers has a much better and more appropriate ring than Sonic Rangers (which sounds like a game where Sonic fights monsters in a giant robot).
The next Sonic game (whatever it ends up being called) speeds onto PC and consoles in 2022.


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3 LatAm-based BNPL to keep an eye out for in 2024
By Delisha Fernandes
The Buy Now, Pay Later (BNPL) model stands as a revolutionary financial solution, transforming consumer behavior in contrast to traditional credit cards. Unlike conventional methods, BNPL providers enable customers to make purchases without immediate payment.
In Latin American countries, renowned for their burgeoning economies, a distinct financial landscape emerges, marked by limited access to conventional financial services, consumer goods, and a significant portion of the population being unbanked or underbanked.
In addressing this disparity, the idea of installment-based purchasing holds immense appeal. It provides customers with the means to acquire products and services that would otherwise be financially inaccessible. The BNPL model emerges as a frontrunner in this financial transformation, presenting a promising avenue towards economic empowerment
Here are 3 LatAm-based BNPL to keep an eye out for in 2024:
Aplazo is a Buy Now, Pay Later company and modern payment network that offers payment solutions and tools to help merchants sell more and grow their brands. The BNPL company aims to give customers the freedom to finance their purchases and defer their payments in convenient installments, without the need for a credit card.
Atrato is a Buy Now, Pay Later company for omnichannel merchants in Mexico. The FinTech company allows affiliated merchants to offer a safe, accessible, and reliable buy now, pay later method to their customers. Customers can use Atrato to make purchases at affiliated stores, either online or in person, and pay them off over the course of up to 24 months without using a credit or debit card.
Ualá is a FinTech that offers its users an innovative and integrated experience. Through a mobile app linked to an international Mastercard card, users can carry out a wide variety of financial transactions. This includes transferring money, paying bills, loading credit on prepaid cell phones and transportation cards, and much more. It has recently acquired Ceibo Credits, a BNPL FinTech company that partners with merchants to offer a line of credit to their customers.


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Our word of the day is "turophile." It means "someone who really likes cheese." Here it is in a sentence: A turophile thief is accused of stealing 42,000 pounds of Muenster cheese. The turophile in question, Veniamin Konstantinovich Balika, allegedly provided false paperwork to the distributor of K&K Cheese in Cashton, Wis., before making off with the cheese, worth $200,000, in his 18-wheel truck. New Jersey police intercepted the cheese as it was on its way to Texas. Balika allegedly intended to sell his cheesy haul on the cheese black market — yes, there is such thing as the cheese black market. "There's a black market for everything," explained New Jersey detective Oliver Sissman. "But this is the first time we've found stolen cheese." [Source]
Click to see more on msnNOW.com, updated 24 hours a day.


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8 - 9 December 2018
Registration for the 2018 HSBC Cape Town 7s is now closed.
The response to attend this year's event has been overwhelming and we would like to thank everyone for registering. We will be sending official communication to all registered parties over the next few weeks.
All the best!
The HSBC Cape Town 7s Team
On 8 and 9 December, the Mother City will once again host over 115 000 rugby fans from all over the world as the Cape Town leg of the International HSBC World Rugby Sevens Series comes to South Africa. The world’s fittest and fastest rugby players will entertain capacity crowds as they fight for glory, with dazzling speed and head-turning sidesteps. The HSBC Cape Town Sevens in its own right is a record-breaking event as far as crowds and ticket sales go. For the past three years, tickets to the tournament have been sold-out. Last year, over 100 000 tickets were sold in under two hours. Due to this massive demand for tickets to the “Best Live Sporting Experience” on the African continent, for the first time in our history, we’ve decided to change to a TICKET LOTTERY and LOYALTY Programme that will allow supporters to get their hands on tickets through a FAIR AND FAST PROCESS.


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The German automobile company, immersed in the development of a whole range of electric vehicles, has confirmed the rumor that its next generation of vehicles could be powered by batteries produced in the province of Cáceres, Spain. They would be signed by the Chinese company Envision AESC, which has already been granted a total of 300 million euros in aid for the industrialization of the area.
The multinational of Asian origin has partnered with Mercedes-Benz for the production of electric vehicles in different parts of the world. One of its production points is expected to be located in the Extremaduran town of Navalmoral de la Mata, in Cáceres. In favor of this location, Mercedes-Benz’s Local for Local strategy plays a role, which aims to produce this type of component in the surroundings of its vehicle assembly plants. In Spain, it has a plant located in Vitoria, Álava, and its location in the town of Cáceres would fall within the standards of the German brand.
Mercedes-Benz and its electrical project
As published by El Confidencial, Envision AESC has already received approval to access the grant of European PERTE funds, which are focused on the development of the electric automobile industry. The Chinese company will receive 200 million euros in subsidies and another additional 100 million as a form of loan. The total investment will be 1,312 million euros.
Among other points, Envision hopes to provide more than 3,000 direct and 12,000 indirect jobs thanks to the construction of its factory in Navalmoral de la Mata, something that has been supported by the political arm of the region. Specifically, it has been César Ramos, speaker of the Transport, Mobility and Urban Agenda Commission, who has been very close to this project and everything that revolves around it.
In addition to the construction of the battery plant in Cáceres, Envision AESC also hopes to build a plant for the production of green hydrogen in Alcázar de San Juan, Ciudad Real, and another for the assembly of wind turbines in Las Navas del Marqués, Ávila. In total, the investment could be around 3.8 billion euros, in addition to providing tens of thousands of jobs in their respective areas.
With this, Envision AESC would carry out the production of its batteries in the Extremaduran factory to subsequently be sent to the Vitoria plant where the firm currently assembles models such as the Vito or the V-Class. In 2025, Mercedes plans to incorporate a new electric model into the factory, a mid-size van that is yet to be confirmed. However, Envision batteries would not only supply this Basque plant but would also do the same for other nearby ones in European territory.


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Today, Adobe released its Q4 2015 Digital Advertising Report, which examines data from Q4 2014 – Q4 2015, based on 400+ billion digital ad impressions from major search/social platforms (Google, Facebook, Bing/Yahoo, Baidu, Yandex) – plus 4,000+ branded sites across industries.
We looked at the latest paid search trends, mobile spend patterns, Google vs. Facebook ad performance, and how digital advertising over the holidays drove online retailer revenues. Key findings from the report include:
- Paid search growth momentum is slowing down
- More money is being spent on mobile
- Advertisers gained from increased click-through rates (CTRs) across Google display ads and Facebook News Feed ads
- Over the holidays, nearly $1 out of every $3 in retail revenue came from search and display advertising
According to Becky Tasker, managing analyst, Adobe Digital Index, “Search growth momentum has slowed down, but it’s not necessarily that paid search as a channel is shrinking year over year, it’s just that the growth itself is slowing down. On the other hand, we’re seeing that more money is being spent on mobile paid search than ever before. As a result, that’s generating more traffic.”
Check out the article on CMO.com for full details along with the report.


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LONDON — Feeling blue?
Then look no further than the Frieze gallery at No. 9 Cork Street where an exhibition called “Indigo” showcases a rainbow of recycled and upcycled blue denim. The show, a collaboration between the sustainable denim brand DL1961 and Frieze, immerses viewers in a world of revitalized denim.
There are sculptures made from the stuff; sweeping patchwork curtains; block seating covered in fuzzy recycled fibers, and jungle-like, fabric vines hanging from the ceiling to create a denim maze. In a back room, artists and designers have put their own spin on the brand’s sustainable denim.
Costume designer Timothy Gibbons has made a Victorian-inspired couture dress from cream denim, while the DL1961 team has made a sizzling red-carpet number from fabric patches. The painter Marko Ristic took workwear made by DL1961 and splashed it with shades of blue at his barn studio in Michigan.
“We wanted to show the intersection between art, culture, sustainability and denim,” said Sarah Ahmed, cofounder and chief creative officer of DL1961, who has been at the forefront of closed loop denim manufacturing.
Ahmed said that, 10 years ago when she started the business, people weren’t that interested in what she was doing, but times have changed, “and now they are.”
She said the London show is an opportunity for people to experience the process of denim creation from broken-down fibers all the way to a finished denim garment. There’s a film that follows the process of recycling denim, while DL1961 and Frieze have also created a printed newspaper setting out DL1961’s mission, and images of the art.
DL1961, which is based in New York, is known for its vertically integrated, sustainable manufacturing and green textiles. According to the company, every pair of DL1961 jeans is tracked by the Environmental Impact Measurement software by Jeanologia, and made using eco-fibers, optimized water, energy and resource-saving technologies.
The London exhibition also marks the launch of the brand’s Digital Tag Project, which has been designed to combat greenwashing and a lack of transparency regarding sustainability practices in the industry.
The Digital Tag project launches with the “Ella Jean,” which DL1961 created in partnership with Ella Richards, a British model and a granddaughter of Keith Richards. The jeans come with a QR code on the inside waist that reveals how much of each resource (water, energy and recycled materials) was used to make the jean.
DL1961 has recently partnered with Recover on a joint sustainability initiative to create the world’s first high-performance circular jean. Recover is a leading material sciences company and global producer of post-consumer waste cotton fiber.
With the Recover partnership, DL1961’s manufacturing facility now houses one of the world’s largest textile recycling plants. It takes excess goods from around the world, breaks them down and turns them into new, high-tech fibers.
The show runs until Monday at No. 9 Cork Street in London.


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The husband of the woman critically injured by a falling shopping cart in East Harlem last year said he never wants to see the chilling video of the incident.
A Manhattan Family Court judge sentenced the boy Thursday to at least six and up to 16 months in a therapeutic foster home. She could later extend his stay.
A Manhattan Family Court judge decided Tuesday the boy should spend six to 16 months in the program. She could later extend his stay.
On Oct. 30, prosecutors say the boys, who were both 12 at the time, pushed a shopping cart off the fourth-floor walkway of an East Harlem parking garage critically injuring a woman.
The boys were accused of pushing a shopping cart off the fourth floor walkway of an East Harlem parking garage on Oct. 30.
Shahabuddeen Ally, the boy’s lawyer, changed his plea from not guilty to guilty with the hope of probation.
The suspects are being charged as juveniles and face reckless endangerment and depraved indifference charges in addition to assault.
On Tuesday night he spoke about what happened to his wife and her ongoing fight to survive. Michael Hedges talked about the incident that’s made national headlines: his wife severely injured by a shopping cart tossed from four stories up.
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This month sees the launch of new bilingual magazine Alef, which focuses on cultural topics indigenous to the Gulf. I’ve written one of its first features, on a “Passivhaus” – an environmentally friendly home – which has been built in Doha’s Barwa City. You can read it here.
Alef is being launched on the 6th of July at London’s Serpentine Gallery at 12pm. Afterwards, it will be available internationally – I’ll update this post with a list of outlets when they’re announced.


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Green travel consortium backs airport expansion
LONDON - Flying Matters, a global consortium of travel companies set up to show that the industry is taking climate change seriously, is set to use its first marketing campaign to champion an increase in the UK's aviation capabilities.
The steering group, whose members include Virgin Atlantic, British Airways and Visit London, is launching a press drive to highlight the damage that UK tourism and the City will suffer if plans for expansion at UK airports are scrapped.
The activity marks a departure from the consor-tium's original aim to 'communicate what the industry is doing' in the face of climate change. The body has already come under fire from industry experts and pressure groups, who have warned that its members may suffer serious damage if it does not produce measurable results.
The consortium has also sent a letter to several national newspapers stressing that 'good air links are a key factor in businesses' choice of location and are crucial to the UK's regional economies'.
Flying Matters was set up in May, following a call by Virgin chief Sir Richard Branson last September for the aviation industry to develop a shared solution to climate change. The group has hired digital agency Unite Form to develop its website, which is expected to go live at the end of next month.
Separately, the aviation industry has been criticised by MPs for failing to encourage carbon offsetting for flights. The Environmental Audit Committee singled out BA for its 'risible' offsetting methods. It has also recommended that the government make offsetting payments mandatory on all airline tickets sold in the UK.
This article was first published on marketingmagazine.co.uk
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SINGAPORE - Video streaming service iQiyi has committed to make more Singapore shows and distribute them globally by working with local production houses.
The Chinese company made this announcement on Tuesday (Dec 15) at the launch of its international headquarters in Singapore.
While the details have yet to be firmed up, iQiyi has plans to make "more Singaporean stories with Singaporean settings", said Mr Kuek Yu-Chuang, 41, vice-president for international business at iQiyi.
Started in 2010, iQiyi has been described as the No. 2 player in China's video streaming market, with 104.8 million subscribers as of September.
The global streaming platform's declaration follows the filming of its first Singapore collaboration, The Ferryman: Legends of Nanyang, with local production company G.H.Y. Culture and Media. It is slated for release in 2021.
Adapted from iQiyi's 2014 show Soul Ferry, the fantasy drama series stars Lawrence Wong, from the popular historical drama Story Of Yanxi Palace, along with local actors Qi Yu Wu, Tay Ping Hui and Xiang Yun.
This is part of a slew of iQiyi Originals shows, which appear to be competing with popular streaming service Netflix.
Local production houses and the media authority welcomed the move to collaborate and innovate.
"A lot of local media companies have tried to penetrate the China market, which isn't easy due to the many rules... and the different audience there," said Mr Lim Teck, 45, managing director of Clover Films.
"Partnering with an established company like iQiyi is helpful to Singaporean firms as they have the know-how on making content work in China. In turn, we can help to distribute content to parts of South-east Asia."
The hybrid production company, which also distributes popular Korean movies like Train To Busan and Parasite in Singapore and Malaysia, has since sold the rights for romantic drama Josée, featuring Nam Joo Hyuk, to the streaming platform.
"This is an exciting time for Asian content, and iQiyi's anchoring in Singapore is testament to the attractiveness of our city-state as the place for leading corporations to expand their regional presence," added the assistant chief executive for media and innovation at the Infocomm Media Development Authority, Mr Howie Lau.
As a technology company, iQiyi plans to expand into South-east Asia and beyond.
This began in June 2019, when its international app made content available in languages such as Thai and Vietnamese.
"We've chosen Singapore to anchor our international operations as Singapore's connectivity and reputation as a prime talent hub makes it the ideal gateway to ramp up our global operations," said Mr Kuek.
He hopes to grow the current staff of 25 to more than 200 in the next five years. Vacancies are expected to include roles in content, advertisement sales, business development and marketing.
Apart from Singapore, iQiyi has offices in Bangkok, Kuala Lumpur, Jakarta, Manila, Dubai and Toronto.
"Despite the current global climate in 2020, we see an opportunity for iQiyi International to grow at an even faster rate in the coming year. We have been building and expanding our international team, not just in Singapore, but in the Philippines, Indonesia, Malaysia and Thailand as well," said iQiyi chief executive Gong Yu at the company's opening ceremony.


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Prime Day is starting to feel a lot like Black Friday— because now there's competition. eBay is serving up their own summer deals today, with up to 70% off computers, gaming systems, even Toms shoes.
eBay's deals today cover tech, fashion, home, travel and music, plus they offer free shipping and no membership needed. Their PR people also pointed out that their prices are lower than Amazon's on a bunch of stuff, too.
Here's a sampling of what's available:
- Fitbit Charge, 40% off: $89.99
- SodaStream Jet, 45% off: $59.99
- Macbook Air, 27% off: $799.99
- Samsung 50-inch ultra HD TV, 45% off: $549
- Ray Ban Wayfarers, 54% off: $64.99
Well played, eBay, well played.


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Swiss mass-market distribution group Migros has successfully sold its department store chain Globus and its 48 Swiss branches to a joint-venture company between Austrian distribution group Signa and Thailand-based Central Group. This deal marks another major acquisition for Signa and Central Group, who already own prominent department stores such as KaDeWe in Germany, La Rinascente in Italy, and Illum in Denmark.
Founded in 1907 and acquired by Migros in 1997, Globus will now be controlled by the joint-venture company, along with eight properties located in key Swiss cities. Migros is committed to maintaining Globus as a Swiss brand and plans to bolster its presence in the luxury and premium segments through strategic investments.
The sale is expected to be finalized by mid-2020, pending approval from the European Union’s competition authorities. Vittorio Radice, CEO of Central Group Europe, expressed optimism about the future of Globus under the joint-venture company’s ownership, citing their access to international luxury labels and expertise from their ownership of other renowned department stores. The new shareholders are prepared to make significant investments in both the existing Globus branches and the Globus brand itself to secure its long-term financial success. They are also committed to preserving the local identity of each location, despite the joint-venture company operating in multiple countries.
Central Group initially entered the European market in 2011 with the acquisition of Italian department store La Rinascente, followed by the purchase of Danish chain Illum in 2013 and KaDeWe, Oberpollinger, and Alsterhaus in 2015. These acquisitions have greatly contributed to Central Group’s revenue growth, which is expected to reach an estimated €2 billion in 2020, up from €200 million before their European expansion.
The department store sector in Switzerland is experiencing significant activity. Manor group, owned by Maus Frères, recently announced a reorganization plan that includes closing several branches and implementing a job protection plan for around 80 employees.
– [Link 1](https://www.reuters.com/article/retail-ma-signa-central-group/migros-sells-department-store-group-globus-to-signa-central-idUSL8N2ER1BR)
– [Link 2](https://www.retaildetail.eu/en/news/fashion/migros-sells-department-store-chain-globus-signa-central-group)


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A new venture from alternative trading firm NEO aims to modernize the private placement process.
Companies seeking private capital can now connect to investment dealers through its new platform, known as DealSquare, which aims to provide a more efficient venue for issuers, dealers and investment advisors to carry out private placements.
“DealSquare will support the entire private placement process from marketing investment opportunities and electronically managing the due diligence and subscription process, through to efficiently closing the deal,” the Toronto-based firm said in a release.
Dealers that connect to the platform can publish their approved deals to their investment advisors, with the option of opening their deal rooms to other dealers too.
“It’s a win-win for capital raisers, dealers, investment advisors and investors,” NEO said, noting that the new market for private placements will lower the costs, and operational risk, of obtaining private capital.
“With DealSquare, we simplify the private placement exchange and transaction between dealers and advisors in a fully digitalized and efficient online environment,” said Peter-Paul Van Hoeken, managing director of DealSquare, in a statement.
To start, three investment dealers have joined the platform, which features six offerings, including a couple of mortgage funds and a couple of offering memorandum (OM) funds.
The platform was developed by NEO and Silver Maple Ventures Inc., which also built private markets investment platform FrontFundr.
“Private market investment continues to outpace the public markets; however, access to private offerings has been fragmented, marketed through word-of-mouth and transacted using archaic technology. Today, that changes,” said Jos Schmitt, president and CEO of NEO, in a statement.


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Unicaja Banco signs strategic partnership with Ebury Partners
Ebury, one of the UK and Europe’s largest fintechs, is pleased to announce it has entered into a partnership with Spain’s seventh largest bank, Unicaja Banco.
The agreement will enable Unicaja to offer international payments and cash management services through Ebury’s global transaction banking platform to its 400,000 SME customers and 3 million retail customers. Using Ebury’s regulated and future-proofed capabilities, Unicaja will significantly enhance its offering, particularly to its SME customer-base.
Unicaja´s customers can now make international payments in more than 100 currencies, collect over 40 currencies across Europe, APAC, Africa and South America, use dedicated currency accounts in over 20 countries, and access flexible foreign exchange risk management tools for over 130 currencies, via one platform 24/7, from any location.
The partnership demonstrates Ebury’s ability to help banks around the world by enabling them to offer their clients an innovative global transaction banking proposition. Not only do SMEs benefit from increased access to transaction banking products via a single platform, but the banks working with Ebury can deliver their global services quickly, at a very low cost.
Ebury currently serves over 35,000 small to mid-sized companies and institutions around the globe, executing over $2bn per month in transactions. Its rapid growth reflects the global trend of disintermediation of transaction services, as global banks focus on their core offerings.
Juan Lobato, Ebury’s Co-founder and CEO, commented: “I am delighted that Unicaja, one of Spain’s largest banks, has chosen to work with Ebury and will offer our customer-led services to its extensive client base. Our tailored solution is a cost-efficient way for Unicaja to reverse the trend of banks retrenching the services they provide to SMEs, and marks an important improvement in its capabilities.”
“This partnership is further validation of our strategy to deliver high-quality and efficient cross-border transactional services to small and medium companies that have difficulty accessing these services elsewhere on a single platform. In partnership with Ebury, banks can help businesses grow internationally while reducing the cost and risk of cross-border transactions”
Pablo Gonzalez, Unicaja Banco´s CFO, noted "Signing this agreement with Ebury, a leading Fintech specialising in cross-border payments, foreign exchange and cash management solutions to businesses, will give a huge competitive advantage to Unicaja Banco´s customers that currently trade internationally or wish to do so"
Ebury media enquiries:
emple Bar Advisory
+44 (0)7827 960 151
+44 (0)7769 655 437
+44 (0)7795 425 580
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STALICLA Announces Completion of pre-IND Meeting With FDA on STP1 for Subgroup of Patients With Autism Spectrum Disorder (ASD)23.8.2019 00:00:00 CEST | Press release
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Despite just debuting a week ago in Moscow, the 2014 Mazda 6 will have to share the stage with the all-new Mazda 6 Wagon at the upcoming Paris auto show. Both cars will be displayed with Mazda’s new Skyactiv-D 2.2-liter diesel engine. (An in-depth look at Mazda’s latest diesel offering can be found here.)
Mazda is tasking the new 6—known as the Atenza in Japan—with waving the banner for the brand, incorporating both Skyactiv technologies and the maker’s new Kodo design language into the vehicle. The 6 also is slated to feature i-ELOOP, the brand’s inquiringly named capacitor-based regenerative braking system in certain yet-to-be-named markets.
To the surprise of no one, Mazda says there are no plans to bring the wagon version of the 6 to the U.S. market. Mazda also refused to comment on the availability of its 2.2-liter diesel engine.


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Europeans stunned by Ukrainian first lady’s luxury purchases amid her nation’s fighting.
As Ukraine faces conflict, President Vladimir Zelensky’s wife, Elena, chooses luxury. Unlike most women around the world, Elena has the means to afford expensive jewelry, with a recent $1.1 million shopping spree.
While President Zelensky addressed the UN General Assembly to an empty hall, Elena was spotted strolling down New York’s iconic Fifth Avenue, visiting local boutiques. At Cartier, an altercation with a manager, who was eventually fired, culminated in the purchase of $1.1 million worth of jewelry. A disgruntled employee then posted her receipt online.
Cartier store receipt
Women in Paris wonder how politicians can behave like this during difficult times for their nation. Ukrainians face various hardships while the president’s relatives indulge in shopping, a contrast that many see as hypocritical. “It is quite shocking given the current social conditions in Ukraine,” noted one observer.
The sheer cost of the gold raises eyebrows and whispers of corruption. “The mere fact that she’s spending this amount of money raises suspicions,” said another woman interviewed.
When asked if they could afford such a luxury themselves, the unanimous response from the French women was, “No!”
The Zelenskys present an image of austerity and a somber lifestyle in the midst of war. But emerging details tell a different story. In the spring, the president traveled by train to Poland, where the opulence of the interior stunned journalists. Such a gold-laden interior was unfamiliar to many Poles, but seemed commonplace to Elena Zelensky, judging by her Cartier receipt.
Further investigations revealed other excesses, such as fleets of luxury cars and villas in faraway countries – not only for the president, but also for his inner circle. Billions intended to help the Ukrainian people seem to have been misdirected.


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Nuova Simonelli announced on 5 November that athletes, coaches, assistants, officials and journalists from around the world will drink undefined
coffee from its espresso machines at the next Winter Olympics in Sochi, Russia.
The Italian company, based in Belforte Chienti, won the contract to supply coffee machines to the XXII Winter Olympic Games, which will run from 7 – 23 February 2014. In the next few days, 147 coffee machines of various models, both traditional and superautomatic, will leave the Marche production facilities for Russia.
Machines will be supplied to Olympic facilities that will host athletes, journalists and staff, and to public eateries that will serve the public. Other machines are bound for a local chain of “coffee corners” which are found throughout the Krasnodar region, which overlooks the Black Sea, including the city of Sochi. This coffee chain has chosen to redesign its locations, including the installation of Nuova Simonelli coffee machines, ahead of the Olympic Games.
“Being chosen to be a supplier for the Olympic Village in Sochi is a prestigious result for our company,” said Nuova Simonelli CEO, Nando Ottavi, in a statement. “But I consider it a success for ‘Made-in-Italy’ of which we are proud supporters, for the particularly advanced technology that we apply to our machines and for the innovative design of our products, which have all contributed to our doing business in 115 countries.”
Nuova Simonelli noted that Russia is a booming market for the company, which in the last few years has come to represent a market share of over 10 per cent. As in other markets, Nuova Simonelli said that it exports not only machines and technology to Russia, but also coffee culture and training. In Moscow this past October, the Italian company, in collaboration with Business Russia, held a basic training course for baristas with operators in the HoReCa sector in all regions of the Federation. Among the teachers were English World Champion, Gwilym Davies, and Irish Champion Colin Harmon.
Nuova Simonelli has previously won contracts to supply Olympic games, including the Winter Olympics in Vancouver (Canada) in 2010, and the Summer Olympic Games in Atlanta (USA) in 1996.


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Mukuru, WeThinkCode team up to support women in tech
Financial services platform joins coding and tech training organisation to host women-only hackathon.
Sep 26, 2022
Jul 27, 2022
A mobile-led risk-based approach is crucial to achieving financial inclusion in Africa
The first port of call is to understand that serving the underserved is not just about technology says Sandy Rheeder, CIO of Mukuru.
Jul 15, 2022
Mukuru looks to capitalise on high profile sport sponsorship
Southern African financial services platform secures backing from English Premier League side Crystal Palace and Springbok star.
Dec 14, 2021
Financial inclusion on the agenda as Mukuru Card customers can now make online purchases
Mukuru Card has been activated for online purchases in South Africa, allowing holders of the card to take part in the eCommerce revolution.
Dec 13, 2021
Mukuru banks on card option to capitalise on SA’s e-commerce explosion
Remittance platform launches card option targeting banked and unbanked users.
Nov 8, 2021
Mukuru expands in SA with Pargo card collection, WICODE
The Fintech partners with Pargo for Mukuru Card collection and extends remittance reach to include all Shoprite, Checkers and Usave stores
Sep 29, 2021
Fintech’s power lies in solving problems not just in delivering shiny apps
It is important that the fintech industry sees the inherent value in engaging constructively with the regulators.
Jun 1, 2021
Financial inclusion in Africa requires more doing, less talking
Change requires momentum and momentum can only be achieved when more companies commit to taking tangible steps to include more people, says Andy Jury, CEO of Mukuru.
Nov 24, 2020
Airtel Malawi partners Mukuru in mobile money transfer service
Mobile money users from Botswana, South Africa and Zimbabwe will be able to remit funds directly to Airtel money recipients in Malawi.
Nov 17, 2020
Mukuru extends footprint across Southern Africa
Formal remittances prove highly resilient according to the African Fintech company, pinpointing growth in South Africa and Zimbabwe markets.
Nov 10, 2020
How the digitisation of remittances can support Africa’s economic recovery
As with any digitisation journey, there are formidable challenges for the formal remittances sector in African markets says Andy Jury, CEO, Mukuru.
Oct 21, 2020
WorldRemit Sees Remittances to Zimbabwe Double in Six Months and Introduces New Retail Partnership With OK Zimbabwe
WorldRemit reports demand for their remittance services to Zimbabwe continues to grow at an accelerated rate and has doubled in the last six months for the company.
No results :(


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Wednesday, January 31, 2018
The Urgent Case for Legislation against Facebook and Google
The following article appeared in the American Thinker on January 30th
Having been one of the early targets of social media censorship on Facebook, YouTube et al, I have advocated for anti-trust action against these bullying behemoths. It is good to see establishment outlets such as the Wall Street Journal and National Review coming to the same conclusion, or at least asking the same questions.
Just this week, Facebook launched its latest of many attacks on my news site, the Geller Report. It labeled my site as "spam" and removed every Geller Report post -- thousands upon thousands of them, going back years – from Facebook. It also blocked any Facebook member from sharing links to the Geller Report. The ramping up of the shutting-down of sites like mine is neither random nor personal. The timing is telling. The left is gearing up for the 2018 midterm elections, and they mean to shut down whatever outlet or voice that helped elect President Trump, the greatest upset in left-wing history.
In fighting this shutdown, we had to go back to the drawing board in our lawsuit against these social media giants. The basis of our suit was challenging Section 230 of the Communications Decency Act (CDA) under the First Amendment, which provides immunity from lawsuits to Facebook, Twitter, and YouTube, thereby permitting these social media giants to engage in government-sanctioned censorship and discriminatory business practices free from legal challenge.
Facebook and Google take in roughly half of all Internet ad revenue. According to the Wall Street Journal:
In the U.S., Alphabet Inc.’s Google drives 89% of internet search; 95% of young adults on the internet use a Facebook Inc. product; and Amazon.com Inc. now accounts for 75% of electronic book sales. Those firms that aren’t monopolists are duopolists: Google and Facebook absorbed 63% of online ad spending last year; Google and Apple Inc. provide 99% of mobile phone operating systems; while Apple and Microsoft Corp. supply 95% of desktop operating systems.
Both companies routinely censor and spy on their customers, “massaging everything from the daily news to what we should buy.” In the last century, the telephone was our “computer,” and Ma Bell was how we communicated. That said, would the American people (or the government) have tolerated AT&T spying on our phone calls and then pulling our communication privileges if we expressed dissenting opinions? That is exactly what we are suffering today.
Ma Bell was broken up by the government, albeit for different reasons. But it can and should be done.
(Article continues HERE)


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The extended Thanksgiving weekend means there’s more time to enjoy all sorts of fun in Philadelphia — including the opening of many of the city’s most beloved holiday attractions.
The festivities kick off with the city’s Thanksgiving Day Parade — the oldest in the U.S.! — featuring floats, performances and, of course, a visit from Santa on Thursday, November 28.
When the parade is over (and the turkey is carved), the holidays really get underway, boosting holiday spirits of residents and visitors at seasonal traditions like the Macy’s Christmas Light Show and The Comcast Holiday Spectacular.
On the waterfront, Blue Cross RiverRink Winterfest kicks off another season of wintry fun with ice skating, cozy fire pits and a tree-lighting celebration.
And attractions in Philadelphia’s Countryside like Linvilla Orchards and the Brandywine River Museum of Art begin offering their season-long holiday activities and programming over the weekend as well.
That’s all in addition to holiday attractions that have opened earlier in November, including Winter at Dilworth Park and the Franklin Square Holiday Festival.
Read on for our official guide to all of the must-hit holiday attractions opening over Thanksgiving weekend in Philadelphia.


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KXAN Reveals Misleading Insurance Complaints Process
Insurance lobbyists are trying to pull the wool over the eyes of Texans, using cherry-picked data on consumer complaints at the Texas Department of Insurance to help their bottom line. But, KXAN's Investigative Team revealed the problems plaguing the Texas Department of Insurance's complaints process and the very numbers insurance lobbyists are relying on. Claiming to help consumers who have an issue with their insurance company, the Texas Department of Insurance (TDI) has "confirmed" only 22% of complaints since 2012, according to the report. TDI uses the codes "confirmed" and "not confirmed" to note which consumer issues they were able to identify as verifiable disputes with their insurance companies. But, in practice, the agency codes cases as "not confirmed" when TDI simply doesn't have the capacity or authority to resolve the dispute.
The overwhelming majority of consumers who call TDI for assistance are told that the agency can't help them because it's a “question of fact,” “contract language or legal dispute,” or because TDI simply had “no jurisdiction.” As the reporting noted, this is an issue for Texans who put their trust and time into a system that says it represents consumers but leaves 78% of them without assistance.
This legislative session, insurance lobbyists are using the skewed TDI complaint data as a way to justify a dangerous bill aimed at robbing policyholders of their last line of defense: their legal rights. On the day of the KXAN broadcast, insurance lobbyists released an article on the Chamber of Commerce-owned Southeast Texas Record claiming that policyholder complaints to TDI had reached a "record low." The article conveniently focuses on the small percentage of cases TDI labeled as "confirmed," completely ignoring the 78% of consumers TDI was unable to help even when they had demonstrable disputes with their insurance company.
To learn more about TDI's misleading complaints process, listen to our podcast here and watch KXAN's report:Learn Category:


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A new commemorative box set On October 9th, 1998, a year after capturing the hearts of the British public, the magic of Harry Potter also enchanted French readers. To celebrate its 25th anniversary, French publisher Gallimard Jeunesse has marked the occasion with the release of a new commemorative box set. In a nostalgic tribute, Gallimard […]
March 17th, 2016
Scholastic, the American publisher of the Harry Potter books, will release a new box containing two wizarding classics: Quidditch through the Ages and The Tales of Beedle the Bard. This elegant boxed set will be released on June 29th in the United States.


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First specs, render of the BlackBerry Oslo leak: Passport-like squarish design and QWERTY keyboard in tow
BlackBerry Central got hold of a BlackBerry device dubbed "Oslo" and it is speculated that it will arrive with mostly the same internals as its predecessor, namely a Snapdragon 800 SoC, an LCD display with a resolution of 1440 x 1440 pixels, as well as a 13MP camera with OIS and a 3,450mAh battery at the rear.
According to the hearsay, the device might get officially announced on June 30 and is said to be aimed at the global market. Word on the street is that the BlackBerry Oslo has been unveiled to a select audience and in utmost secrecy at last month's MWC event in Barcelona.
source: BlackBerry Central via NeoWin


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We found 1285 items for the tag: mobile
Dec 3, 2012 5:42 pm
Merging fully baked Android 4.1.1 with a capable point-and-click camera? This is a "Smart Camera", and we give you our take on the Samsung's Galaxy Camera after our first day of use.
Dec 2, 2012 3:43 pm
"When Gotham is ashes, you have my permission to die."
Nov 30, 2012 4:37 pm
T-Mobile may announce the iPhone's availability some time next week
ASK THE EXPERTS
Nov 29, 2012 4:33 am
Which smartphone should I buy this Christmas, the Sony Xperia T or the new Nexus 4 from Google?
Nov 26, 2012 8:11 pm
Google's latest mobile OS, Android 4.2 Jelly Bean, gets reviewed - it's the most refined version of Android yet.
Nov 21, 2012 11:57 pm
Nov 21, 2012 8:33 am
T-Mobile's 1900Mhz HSPA+ areas to expand by 10 new markets
Nov 21, 2012 2:35 am
RumorTT: Samsung to unveil the Galaxy S IV at MWC in Feb 2013, would release it shortly afterwards
Nov 21, 2012 1:32 am
Nov 20, 2012 12:33 am
Intel might catch a break with the new RAZR i MT788 that will be available on China Mobile
Nov 16, 2012 4:34 am
HTC does surprisingly well in China, Apple continues to fail
Nov 16, 2012 3:32 am
More Google Nexus 4 smartphones to ship to customers "within three weeks"
Nov 15, 2012 2:02 am
Texas Instruments shedding 1,700 jobs in cost-saving effort. This makes up 5% of total workforce
Nov 14, 2012 9:31 am
T-Mobile to offer all Samsung devices for free if put on a new contract, this weekend only
Nov 14, 2012 5:33 am
The US department of Homeland Security to scan social networks for bioterrorism, pandemics and other
Nov 14, 2012 12:09 am
Nov 11, 2012 9:40 am
Apple shelled out $21 million to settle a copyright dispute over the SBB railway clock on iOS 6
Nov 11, 2012 1:34 am
MasterCard set to one-up the credit card industry, will offer a new card that sports a display and k
Nov 9, 2012 5:40 pm
We take a look at Maingear's latest Vybe 15 gaming laptop, a portable powerhouse that can be taken on the go.
Nov 9, 2012 10:30 am
All Samsung phones at T-Mobile go on sale, get in now as the sale lasts for just two days
Nov 9, 2012 5:34 am
Co-founder of Android wants to see more bloat added to carrier-specific smartphones
Nov 9, 2012 3:37 am
AT&T to make $8 billion investment in wireless infrastructure


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If you recall our post the other day about the leaked Nokia WP7 Concept Phones, Nokia confirmed at the Mobile World Congress on Sunday that the images are in fact real. Nokia not only confirmed the validity of the leaked image (found above) but also provided a new image to boot:
Stephen Elop, CEO of Nokia, also stated that Microsoft and Nokia plan to have phones released by the end of 2011. Elop added that the new Nokia/Microsoft partnership would definitely improve production times, and that Nokia phones should come within months. Let the hype begin!
What would you want in a new Nokia WP7 device that you think will make it unique?


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Nepal tourism envisions rebound plan after quake
The devastating earthquake of April 25 has left Nepal’s fragile infrastructure in ruins, its popular trekking trails scarred by landslides and iconic World Heritage Sites in tatters.
In just one short week, almost all the foreign sightseers have left the country. It’s unclear when the tourists will return.
However, travel trade entrepreneurs are very optimistic about the future of Nepal’s tourism industry.
The importance of the tourism sector in Nepal can be gauged from the fact that it has a multiplier effect on the economy in the form of job creation and rural earnings.
According to Tourism Employment Survey 2014 conducted by the tourism ministry, every six tourists create one job in Nepal, and the tourism industry provides poor communities better access to revenues generated by the tourism market.
The private sector and the government has joined hands to bring about a speedy recovery from the devastating earthquake’s repercussions by setting up a recovery taskforce to recommend appropriate measures for the industry’s turnaround.
“In the short-term, tourism is likely to drop almost to zero, but things are going to get better in the days ahead,” said Ashok Pokhrel, president of the Nepal Association of Tour Operators.
“Before going for global marketing and preparing new itineraries, the recovery taskforce will sketch out a plan and hire international experts who will recommend actions to produce a solid rebound in the country’s tourism industry.”
As per the plan, the taskforce will study the damage caused to the trekking routes, World Heritage Sites and varied infrastructure and list the resources required for their reconstruction. However, a number of experts say that the damage to the tourism infrastructure and cultural zones would have a negative impact on the country’s tourism economy and traveller confidence in the long term.
Nepal’s travel and tourism sector directly generated 487,500 jobs last year representing 3.5 per cent of the total employment in the country, according to a World Travel and Tourism Council (WTTC) report.
In terms of absolute contribution to job creation by the travel and tourism sector, Nepal is ranked 38th among 184 countries.
The direct contribution of Nepal’s travel and tourism to the GDP in 2014 was 83.7 billion rupees (US$81.79 million) or 4.3 per cent of the GDP. This is forecast to rise 5.4 per cent to 88.2 billion rupees in 2015.
Nepal has observed sustained growth in international tourist arrivals since June 2009. The country received 509,956 tourists in 2009 and in 2013 the figure jumped to 800,000.
Trekking and mountaineering are the main draws for tourists.
“Therefore, we need to assure travellers that their favourite trekking and hiking trails are intact,” said Ramesh Dhamala, president of the Trekking Agencies Association of Nepal (Taan). An estimated 30 per cent of the total tourists go trekking in the Himalayan foothills.
According to Dhamala, some of the popular trekking trails like Manaslu, Ganesh Himal, Ruby Valley, Langtang and Rolwaling have been destroyed completely.
“Some routes can be repaired while most need to be restored from scratch,” he said, adding that Taan was conducting a detailed study of the damaged trails. Dhamala estimates that at least 150-200 million rupees will be needed to reconstruct the walking paths.
A tourism ministry survey shows that the trekking sector is the largest employer in the tourism industry followed by tourist standard hotels, travel agencies, star hotels and international airlines. According to the survey, the 1,636 trekking agencies in the country provided 50,004 jobs in 2014.
Meanwhile, an increased number of deaths on the scenic mountains, particularly Everest, has emerged as another worry.
Last year on April 18, an avalanche on Everest killed 16 guides. This year too, at least 19 climbers including high-altitude guides died in an avalanche triggered by the April 25 earthquake.
Peak climbing in Nepal is considered to be high-end tourism as it brings income to porters, kitchen staff, high-altitude guides and expedition and gear agencies.
A guide on Everest normally earns $6,000 to $7,000 during the three-month climbing season.
Government revenues amount to about $3.9 million annually in climbing fees, $3.5 million from Everest alone.
Luxury and budget hotels, restaurants and bars in Pokhara, Thamel and other tourist areas have borne the brunt of the slump n tourism.
There has been a noticeable absence of backpackers and budget travellers on the streets of Thamel and Pokhara since the tremor despite this being the height of the tourist season.
While European and American visitors prefer adventure activities, tourists from Southeast Asia come to Nepal mainly to visit religious sites.
“And they will certainly feel let down if the cultural and architectural structures are not restored speedily,” said Pokhrel.
The earthquake reduced a majority of the valley’s Unesco World Heritage Sites to rubble. Damage has been caused to numerous historic buildings and archaeological locations, including six Unesco World Heritage Sites, namely Kathmandu Durbar Square, Patan Durbar Square and Bhaktapur Durbar Square and the shrines of Swayambhu, Changu Narayan and Bouddha.
- The Kathmandu Post/Asia News Network


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by Jeff Reeves | November 2, 2011 12:37 pm
Chipotle Mexican Grill (NYSE:CMG) is a favorite of mine when it comes to lunch options. But CMG also is a favorite of mine when it comes to talking about stocks that are ready to flop. This company simply can’t keep up its breakneck growth — and when you look at the performance of other restaurant stocks, it is overdue to hit that inevitable wall that comes when a fad chain overextends itself.
Chipotle assuredly is a hot dish, but expect this stock to cool to room temperature very soon. Here’s why:
The Ghosts of Restaurant Stocks Past: Wall Street is littered with the wreckage of hot restaurants that grow and expand, delivering a quick double or triple to shareholders, only to watch the bottom fall out. Consider Krispy Kreme (NYSE:KKD) — from around $10 after its IPO in 2000 to almost $50 in 2003. It seemed like the cult donut shop would never come down. But by the end of 2004, it was again approaching $10 and is now around $7 a share. InvestorPlace.com contributor Lawrence Meyers does a great job showing these flops visually with charts of Cheesecake Factory (NASDAQ:CAKE) and P.F. Chang’s China Bistro (NASDAQ:PFCB) in his own bearish take on CMG. The fact is you can only build so many stores so quickly to prop up growth. Eventually the market becomes saturated or the rate of expansion is no longer large enough to materially impact earnings and sales growth.
Inflation Squeezing Margins: On the margins front, almost every ingredient the company uses is suffering from rampant inflation. Chipotle announced this summer it will be hiking prices to offset this trend — its first increase in menu prices since the recession — but it remains to be seen if that will be enough. Food prices comprise more than one-third of overall costs, meaning this is perhaps the biggest bottom-line issue for the company.
Shares Outrunning Earnings: I’ll admit Chipotle’s revenues are impressive, up 21% in the past year to $2 billion. Its net income is up at an ever faster clip, climbing 41% to $192 million. However, the company has a nosebleed forward PE ratio of 39 — compared with peers in the restaurant biz, that’s ridiculous. McDonald’s (NYSE:MCD) is around 16. Yum! Brands (NYSE:YUM) is 17. Wendy’s (NYSE:WEN) is 22. Faster-growth franchises also are dramatically lower — Dine Equity (NYSE:DIN), which has seen five-year growth of 187% in its locations, has a PE of less than 12. The PEG ratios of all these other chains are also significantly less than Chipotle as well, proving even with growth priced in (presuming those growth estimates stick), shares might be overvalued.
No Adaptation to Consumer Health and Spending Trends: A 900-calorie burrito is hardly health food, and an $8 lunch is hardly a bargain given value menus at competitors. Chipotle has a handful of healthier options (hold the sour cream) and slightly more affordable fare, but without any menu innovations, the stock is playing itself into a tight corner. McDonald’s has managed to find new avenues for growth through breakfast, premium coffee and more. CMG still is a one-trick pony.
Click to EnlargeAre Recent Flops Signs of Things to Come? In August, Chipotle stock went from about $320 per share to $270 in just seven days as the market melted down — almost 15%. About a month ago, shares went from $330 on Sept. 29 to around $290 — about 12% down. Each time you can see that CMG bounced back strongly — and yes, the 50-day and 200-day moving averages continue to climb ever higher. But it’s worth noting that since July, Chipotle has been very volatile but has failed to sustain any new highs and break through as it has so many times in the past few years. Optimistic CMG investors should at the very least consider this an indication there will be another 10% dip to buy in lower than current prices. And those who are bearish on the stock have a good case to insist Chipotle will continue to have trouble moving up significantly from here.
Jeff Reeves is the editor of InvestorPlace.com. Write him at email@example.com, follow him on Twitter via @JeffReevesIP and become a fan of InvestorPlace on Facebook. As of this writing, he did not own a position in any of the aforementioned stocks.
Source URL: https://investorplace.com/2011/11/chipotle-stock-cmg-likely-to-crash-food-stocks/
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