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Since the vote to leave the European Union, the future of British business has been the subject of extensive and heated debate. Peter Hargreaves, the billionaire donor to the Leave.EU campaign, was one of many leading business people to suggest that the best model for Britain, post Brexit, was that of Singapore, where there were few barriers to companies who wanted to move there and, in some cases, huge state incentives for those that did.
But claims that in order to survive after Brexit, the UK shipping sector will have to follow the Singaporean model by pandering to businesses can be readily dismissed. Unlike Singapore, the UK has numerous advantages that have allowed British shipping to flourish. In spite of the doom and gloom surrounding Brexit, the UK’s shipping will be the backbone of a truly “global Britain” once we eventually leave the European Union.
This global Britain will be defined by new trade agreements and greater attention, in diplomatic and economic terms, paid to the Commonwealth and emerging markets. It will reprise Britain’s position as an international trading hub.
And while it’s true that Singapore has grabbed a large market share of international shipping in recent years, it has not been a one-way street: over the past year, a number of shipping companies have moved operations away from it. The UK doesn’t have to share the same fate. It has more to offer than low financial barriers and less red tape, and the success of the sector must not be underestimated: it supports almost a million UK jobs and delivers 95pc of international trade.
Britain, it bears remembering, has a rich seafaring history and continues to be an influential maritime power. The International Maritime Organisation, the regulator of global shipping, is based in London. English language and law are universally respected in global business. More than that, in fact – English law serves as the de facto law for the majority of global businesses. And when you consider Britain’s location geographically, its language and its time zone, it’s clear to see that it is almost uniquely placed to trade goods seamlessly around the globe.
London remains a much sought-after business and industrial centre, and contributes greatly to making British shipping profitable. The Menon report on Leading Maritime Capitals of the World 2017 placed London fifth. A cluster of financial, insurance and legal services in the City makes it an attractive base that allows companies to conduct all their affairs in one location.
But the UK’s position as a world-leading shipping hub doesn’t just hinge on the prosperity of London. The country is home to many world-class clusters of maritime services, strengthening its overall offering on the global stage. As an island nation, we are accessible and well-equipped to send and receive goods at several points along our vast shoreline – the longest of all EU member states.
Ports including Felixstowe, Glasgow, Liverpool and Southampton all have enviable facilities for international shipping. Extensive infrastructure throughout the UK allows the swift delivery of international goods. Few countries in the world can boast of having the same logistical power that the UK has.
Few countries, too, can compete with British tonnage tax: a versatile tax system that encourages enterprise in the shipping sector. In Britain, the tax levied on shipping companies depends on the total tonnage of the shipping fleet and not the company’s profits. It isn’t unique to the UK, but British tonnage tax is hugely competitive, and represents a very attractive incentive.
The UK also continues to have a strong voice within the international community. Just as its diplomatic, political and economic power remains undented by Brexit, so does the future of its growing shipping industry.
We are told on an almost daily basis that our post-Brexit future looks bleak, and we are on a sure path to global insignificance. But far from facing a period of decline, the UK will thrive in the post-Brexit world.
And what’s more, it is British shipping that will be the very foundation on which we build our post-Brexit success as a nation.
Guy Platten is the chief executive of the UK Chamber of Shipping


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What is the Trump administration’s objective with Iran? We’ve all been watching its efforts for months now—including National Security Advisor John Bolton’s announcement on Sunday that the United States had sent an aircraft carrier to the Middle East in response to “a number of troubling a
Archives for May 21, 2019
The Easter bombings in Sri Lanka last month were a massive human tragedy for a country that has already experienced too much violence. Prior to the attacks on Christian churches and luxury hotels, Sri Lanka was already a deeply divided nation.
It all began about a year ago. At CES 2018 in Las Vegas, the US President of Huawei’s consumer business, Richard Yu, went off-script in his presentation to lament that the Chinese smartphone giant had been unable to consummate a deal to sell its smartphones at any large US-based cell carrier.
The focus should be on prosperity and good government, not perpetual resistance.

domain: news


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Bitcoin of America virtual currency exchange company increased The number of ATMs has increased by more than 30% since May.
In March, Bitcoin of America had about 1,800 Bitcoin ATMs. Within two months, that number had increased to over 2,500 BTM at over 250 locations across the US.
Until March, Bitcoin ATMs offered the ability to buy Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH). With the expansion of the network, America’s Bitcoin has expanded its ecosystem in terms of integrated coins. It started offering Dogecoin (DOGE) in March and added Shiba Inu (SHIB) in April. Users can now purchase all five currencies at Bitcoin ATMs using their debit cards or PayPal accounts.
Shiba Inu and Dogecoin in payments
Recently added coins to the bitcoin ATM network, Shiba Inu and Dogecoin, have become increasingly useful for payments lately. In April, American film company AMC announced that it was accepting payments in Dogecoin and Shiba Inu.
After announcing their roadmap for 2022 in April, the Dogecoin team set out to make Dogecoin the “currency of the internet.”
The project team stated that instead of remaining a meme coin, they will focus more on utility and turn Dogecoin into a valid payment method for everyone in the world. The group has developed a step-by-step roadmap to improve Dogecoin technology and payment capabilities.
Elon Musk has been promoting Dogecoin for years and accepting Dogecoin payments for Tesla. He recently announced that he was accepting payments in Dogecoin and for SpaceX goods, after which the price jumped by 5%.
On June 3, U.S. Senate candidate Timothy Ursrich expressed his desire to make Dogecoin legal tender in California. To support his efforts, he asked Elon Musk and Dogecoin co-founder Billy Markus to help with his campaign.
In May, Shiba Inu announced an upgrade and introduced the SHI stablecoin. SHI stablecoin is in the final testing stage before launch.
The anonymous founder of Shiba Inu Riyoshi wrote about Shiba Inu’s goal of becoming a means of payment and said:
“The ultimate goal is for SHI (powered by both ETH and Shibarium) to become a global stablecoin that plebs in all countries can use both as a store of value and as a payment method.”
Credit : cryptoslate.com


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And Ferrari doesn't make them for just anyone.
Ferrari's Special Projects Division has created some truly special one-off supercars over the years for some extremely wealthy clients. Some of Ferrari's latest one-off creations include the track-only P80/C and the F12-based SP3JC. But how long is the waiting list for these prestigious projects, you may be wondering?
Speaking to Autocar, Ferrari's commercial and marketing boss, Enrico Galliera, said these unique models are in such high demand that they "have the longest waiting list of all our product lines," at four to five years. "The client has not only a unique car but a unique experience working with the designer in the process. It's the pinnacle of Ferrari," he said.
Unsurprisingly, these exclusive one-off models aren't available to just anyone, and are reserved for "top clients only" according to Galliera: "We receive requests from clients, and it won't be considered unless they are in a pool of our top 250 clients or so."
But despite the increasing demand, Ferrari will only produce two or three one-off models a year to make them more desirable. Ferrari's latest one-off, the P80/C, is based on the 488 GT3 race car and has the longest development time of any Ferrari one-off model to date. According to Galliera, a typical one-off takes 18 to 24 months to complete, but this project took between two and a half and three years. "This car was never going to be a road-legal car, so there were no limitations on what we could do," he explained.
This is evident when you look at the P80/C's bespoke body, which is heavily inspired by Ferrari's legendary Sports Prototype racing cars from the 1960s, such as the 330 P3/P4, Dino 206 S, and 250 LM. Ferrari still won't say how much power the P80/C has, but being based on the 488 GT3 means it most likely uses a 3.9-liter twin-turbo V8. Since the car doesn't need to adhere to category restrictions, it should have at least 660 hp on tap to match the 488 GTB road car.
Photo credit: Brian Smith (www.bms-photo.com; Instagram @bms_photo)
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Foodborne illness outbreak in fall 2006 linked to spinach caused consumers to seek substitutes
In January 2011, Congress passed the Food Safety Modernization Act, which included a set of mandatory food safety practices for U.S. produce growers. Produce imports would need to provide the same level of public health protection. The new regulations, designed to reduce the risk of foodborne illnesses, followed several major foodborne illness outbreaks traced to produce. In 2006, an outbreak traced to spinach contaminated with E. coli O157:H7 resulted in over 300 illnesses and 3 deaths. For about 2 weeks, most of the spinach in the United States was off the market following Government warnings not to eat bagged or fresh spinach. But even after the warnings were lifted, consumers were slow to return to their previous spinach purchases. ERS researchers analyzed retail scanner data and found that lost consumer expenditures at U.S. grocery stores totaled $60.6 million for all fresh leafy greens (spinach and lettuces) between the September 2006 outbreak and December 2007. Spinach sales fell by $202.5 million, while sales of lettuce grew by $141.9 million as some consumers switched from spinach to other leafy greens that were not implicated in the outbreak. The data for this chart appeared in "Consumers' Response to the 2006 Foodborne Illness Outbreak Linked to Spinach" in ERS’s Amber Waves, March 2010.
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Amazon quietly signed a $5.5 billion deal to sell its products to American cities — here are some of the biggest spenders
- In 2017, Amazon signed a national contract with a co-op that buys products (e.g. school and office supplies, electronics, and library books) for 1,500 cities, counties, and school districts across the US. Public funds, often through taxes, pay for these Amazon products.
- The co-op says that Amazon could receive up to $5.5 billion over the next 11 years.
- A new report from the Institute of Self Reliance looks at purchasing totals from 60 cities, counties, and school districts in 2016.
- The report's authors argue that relying on Amazon to buy public goods undermines local retailers or national chains with local stores.
When cities, counties, and public school districts need to buy office and classroom supplies, computers, musical instruments, and library books, they often consult purchasing co-ops. One of the largest of these co-ops is US Communities, which negotiates contracts with retailers. Cities then use public funding to buy the products.
In 2017, Amazon signed a contract with US Communities to provide its products to 1,500 public agencies, ranging from Atlanta Public Schools to the Mesa, Arizona police department. According to the co-op, Amazon could receive up to $5.5 billion over the next 11 years (or $500 million a year) as a result. While not every Amazon product is available through the deal, it includes a range of categories for products from Amazon Basics and various brands.
What does this have to do with the Jan/San market? It is just a matter of time till Amazon does the same thing with cleaning supplies. What are you doing to prepare for that?
Do This 1 Thing During Vacation to Come Back Recharged
Americans forfeit roughly half of their earned vacation days--this despite the fact that working in high-stress jobs can increase the number of health ailments that one faces. A 2014 American Psychology Association report found that stress is linked to an array of psychological symptoms that include irritability, anxiety, and decreased motivation. According to the APA’s report, 60 percent of stress is reportedly caused by work.
Steven Kadoch, managing partner at Ultimate Jet Vacations, a 2017 Inc. 5000 company, says that getting out of the office can help you think of the big picture and what’s next for your professional or business life. Kadoch emphasizes the importance of building a personalized vacation. Whether it’s a trip to an all-inclusive resort in Cabo or a safari in Tanzania, Kadoch suggests not rushing through the process, but instead planning your vacation in a very individualized way. “Think about what you and your family enjoy, not just that hot spot where your friend went and how much they spent.”
When we are on vacation and feel some sense of distance from the hustle and bustle of our daily routine, Kadoch says, life feels good again and gives us the chance to come back to work with more energy and focus. And seeing vacations as Ross does--as a non-negotiable requirement that we need to “grow, expand, recharge, and renew”--can lead to improved outcomes for your clients, your employees, and your personal relationships.
Summer is almost over, book some vacation days.
Have a great day and an even better sales week!


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HARRIS COUNTY, Texas -- Small businesses throughout Harris County that have been affected by the COVID-19 pandemic will soon be able to apply for grants ranging from $5,000 to $25,000. The new $30 million relief fund is subsidized by the American Rescue Plan Act Local Fiscal Recovery Funds.
County commissioners unanimously approved Aug. 10 a partnership with LiftFund, an independent nonprofit that provides loans for entrepreneurs. This organization will help manage the program and help business owners apply, according to Harris County Judge Lina Hidalgo. She said at a press conference that small-business revenue is down 38% since January 2020, according to a U.S. Census Bureau survey.
"Running a small business is a huge challenge even during the good times," she said. "The personal sacrifices that small-business owners make day in and day out for their community are huge, and we owe it to them to support them as they make it through the COVID-19 crisis and the associated economic challenges."
Hidalgo said the selection process will be randomized but prioritized based on need. Social vulnerability index factors such as the location of businesses as well as the ethnicity and gender of business owners will be considered. Funds can be allocated to pay workers, suppliers and rent, among other needs.
The application window will open on Sept. 20.


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A new Javelin Strategy & Research report reveals layers of paradox involving mobile banking. The first is that what consumers most fear most should not concern them: security. Turns out that mobile banking is not widespread enough to attract the attention of serious fraudsters. The second is that the industry, since it does not yet face a serious threat is not preparing for what is sure to come. They are not gaining the real-world experience necessary for the time when mobile transactions burst into the mainstream. "It's going to happen at the point where it's not just tech geeks like me" using mobile banking, says Tom Wills, a senior analyst with Javelin Strategy & Research. "When my aunts, uncles and grandparents use it, that's when the crooks go after the money."
In its banking safety scorecard compiled in November, Javelin found that just a fraction of the 30 million potential mobile banking customers have signed up for the service, with 47 percent of non-participants holding back because of security concerns - nearly twice the number who demure due to fees or other costs.


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Blockbuster Inc. said Wednesday that it had reached a deal for exclusive United States rental rights to movies from the Weinstein Company, whose founders created the Miramax studio and sold it to Disney.
The deal will keep all movies from Bob and Harvey Weinstein’s new production company out of the hands of Netflix, the online service that competes with Blockbuster, the nation’s largest movie-rental chain.
I’m really not sure I understand how this is possible. Doesn’t the First Sale doctrine make it possible for Netflix to buy DVDs through any legal channel and rent them to anyone it wants without having to get permission from the copyright holder?
(via Ezra Klein)


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Ctrip Launches Tourist Transport Center in Shanghai
China's leading travel service enterprise Ctrip has announced that it has opened a transport center in Shanghai for short-haul individual tourists, allowing them to take bus trips for more than 300 tourist destinations in Zhejiang province, Shanghai, Anhui province, and Jiangxi province.
The center, which is the first in China to be established by Ctrip, is expected to transport as many as 5,000 tourists per day and will offer consulting services and space for tourists to wait and take a rest.
According to Chen Yanyi, the deputy general manager of Ctrip's travel business, the opening of the center shows that online travel reservation has become the most popular option among local residents who want to take short-haul trips, and it is also an important step for Ctrip to improve its offline services.
Chen added that Ctrip also plans to launch tourism products sales and interactive activities with tourists.
In recent years, Ctrip has independently developed over 300 tourism products around Shanghai, covering most destinations in Zhejiang province, Shanghai, Anhui province, and Jiangxi province.
Recommended China Guide:


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“I am excited to quickly follow through on last year’s funding round with our Series B to finalize the construction of a pilot facility where Finless will produce its first marketable cell culture bluefin tuna, which is expected to open in the Bay Area. this year,” said Michael Selden, CEO and co-founder of endless foodin a press release.
“We are also preparing to launch our Plant-Based Tuna into foodservice nationwide this year, which will generate revenue for the business, a key milestone for Finless and the industry,” he said. added.
The company says it aims to use the investment to:
- Launch its plant-based tuna nationally in foodservice, explore international distribution in Asia, and expand its plant-based seafood portfolio.
- Expand its team, deepen the technical research and development personnel, and further strengthen the business capacity to develop the company from R&D to a food business.
- Obtain regulatory approval for its cell cultured bluefin tuna, allowing it to be sold and consumed.
- Lead the industry in reducing the price of cell cultured bluefin tuna to achieve price parity with its conventional equivalent.
The funding round was led by Hanwha Solutions and brings the startup’s total raised to nearly $48 million since 2017. Other investors include Japanese seafood company Dainichi Corp, At One Ventures, Olive Tree Capital, Justin Kan, Humboldt, Gaingels, Draper Associates , Sustainable Ocean Alliance and SOSV.
After learning of the increasing pressure on the ocean and global fisheries, particularly on key species of concern like bluefin tuna, Selden and Brian Wyrwas founded the company around a single guiding mission: to create a future for seafood where the ocean thrives. .
“We instinctively identified bluefin tuna as Finless’ first species of interest and priority, both for its conservation opportunity and its business strategy,” Selden explained.
To ensure that we are informed by the expertise, Finless has created an “impact table”. This currently includes: Mike Sutton, who helped create the Marine Stewardship Council; Dick Jones, who oversaw seafood operations at Whole Foods Market and HEB Grocery; and Jack Kittinger, who currently leads Conservation International’s global fisheries and aquaculture program.
“Given the climate change that our planet is facing, we believe that cellular agriculture will become the future of food production. For this, we are excited to embark on the adventure with Finless,” said a holder. Hanwha Solutions says, “With its bold vision and innovative technology, we are confident that our partnership with Finless will accelerate the food revolution and deliver a better future for humanity.”
*Finless Foods is part of Hatch’s investment portfolio, but The Fish Site retains editorial independence.


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Tucked away in a quiet corner of downtown Charleston’s Elliotsborough neighborhood lies chef Ken Vedrinski’s charming Italian eatery, Trattoria Lucca. Inspired by the ancient Tuscan city of Lucca, a place renowned for its olive oils, Trattoria Lucca brings the essence of Italian cuisine to the Lowcountry.
More often than not, tipsters, readers, friends and family of Eater have one question: Where should I eat right now? What are the new restaurants? What’s everyone talking about? While the Eater 18 is a crucial resource covering old standbys and neighborhood essentials across the city, it is not a chronicle of the ‘it’ places of the moment. Here’s theEater Heat Map, which will change continually to always highlight where the crowds are flocking to at the moment.
Every Day with Rachel Ray magazine features Chef Ken Vedrinski’s recipe.
The United States is distinguished by the diversity of culinary options it offers adventurous diners, with restaurants serving the food of nearly every nation. But amid this diversity, the cuisine of Italy stands alone for its popularity, its abundance, and the range of its offerings, both on the plate and in the glass. This year, our annual Wine Spectator food issue is devoted to Italy, focusing on American interpretations of some of that country’s most exciting regional specialties.
For the full article, check out the new issue of Wine Spectator, on newsstands August 20, 2013.
Chef Ken Vedrinski of Trattoria Lucca and Coda del Pesce will be profiled in the September issue of Wine Spectator magazine in a piece on the country’s top Italian chefs.
He joins other notables like Michael White (Marea, New York), Dena Marino (MC Kitchen, Miami), Celestino Drago (Drago Centro, Los Angeles), Jonathan Benno (Lincoln Ristorante, New York), and Matthew Accarrino (SPQR, San Francisco).
In the piece, he shares a recipe and a wine pairing. Keep an eye out for the issue, which should hit newstands this week.
It begins with small delicate slivers of local sea bass. The smell is sweet with a hint of the sea, its hue a translucent pink, and the texture smooth, eventually dissolving on your tongue. Preserved lemons add zest and color to a plate dressed with the finest olive oil and slices of Calabrese chiles — a perfectly balanced dish.
After the crudo ($12), big lumps of fresh blue crab mingle with a crowd of al dente gemelli that’s tossed in a vibrant, citrusy pistachio pesto ($24). A perfectly seared triggerfish dressed with roasted tomatoes sits on a bed of vermicelli in a beautiful pool of lavender lambrusco Vidalia onion crema ($27).
Charleston uber-chef, Ken Vedrinski, of Trattoria Lucca fame, recently opened Coda del Pesce, a new Italian influenced restaurant on Isle of Palms, South Carolina. Located 25 miles south of downtown Charleston, the restaurant, underwent a complete renovation paying particular attention to design elements to highlight the impressive seaside backdrop.
In a food-focused city surrounded by water, the list of restaurants with a view in Charleston, South Carolina, is surprisingly small—the list of waterside fine-dining establishments is even smaller. So when space opened up on front-beach Isle of Palms—a ten-minute drive from downtown—chef Ken Vedrinski of Charleston’s Trattoria Lucca jumped at the chance to help fill that void with his new Italian-inspired seafood restaurant Coda del Pesce (Italian for: “Tail of the Fish”), which officially began accepting reservations earlier this month.
New South Carolina restaurant. Chef and owner Ken Vedrinski’s newest venture, Coda del Pesce, opens officially today on Isle of Palms. The restaurant’s menu takes its cues from the sea but (like his other spots) still retains Ken’s signature Italian slant: dishes include octopus bolognese and grilled calamari with tomato and eggplant. You’ll want to eat the fresh catch and house-made pastas at a table near the floor-to-ceiling windows–we hear the the views are incredible.
Chef and owner Ken Vedrinski’s highly-anticipated IOP masterpiece Coda del Pesce is almost here, and the early look at the space proves it’s quite a sight. There are huge windows, brick archways, plenty of reclaimed wood and just a few nautical accents to punctuate the seaside locale. And then, there’s the view. They’re still working on some of the details, but the public should be able to take it all in next week. Stay tuned for the exact date.


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When Prenetics went public on the Nasdaq last month, there was a cause for celebration – not just for the Hong Kong-based genetics and diagnostics health testing start-up, but for start-ups in Hong Kong. It offered renewed hope for the city’s position as a start-up hub, and for its start-up community, which have been rocked by uncertainty in recent years.
One of the main challenges has been the COVID-19 pandemic and resultant travel restrictions, which has made it difficult to raise funds and bring in overseas talent, and prompting some to reconsider whether start-ups can still truly thrive in the city. “Hong Kong has a strong start-up community and a large number of start-ups – but very few have actually reached a stage when they can go public. There are currently challenges, given the COVID situation and volatile global capital markets,” highlights Prenetics’ Chief Financial Officer, Stephen Lo FCPA.
Prenetics is also Hong Kong’s first “unicorn,” which refers to a start-up worth upwards of US$1 billion, to be listed in the United States. Lo hopes the listing inspires entrepreneurs to persevere and proves to young people that they, too, can succeed in the innovation and technology (I&T) sector. “They should know that they can also be disruptors who use their knowledge to bring about positive change and make an impact on society.”
The company is one of thousands of tech start-ups capitalizing on the opportunities for growth in Hong Kong. Despite pandemic-related challenges and border closures, there are more start-ups than ever before in the city – with upwards of 3,700 start-ups in Hong Kong compared with just over 2,200 in 2017 – according to InvestHK’s 2021 Startup Survey. Increased government funding, such as more than HK$16 billion that will be allocated to I&T projects announced as part of Hong Kong’s Budget 2022-23, and upwards of HK$130 billion that has been invested in I&T development over recent years, has accelerated development in the I&T sector. This, coupled with long-existing factors such as the city’s strategic geographic location, diverse pool of talent, simple tax system and low tax rate, and ease in raising funds, continue to attract entrepreneurs worldwide.
These advantages make Hong Kong a prime breeding ground for start-ups in I&T in particular. According to the survey, the majority of start-ups in Hong Kong specialize in technology, including fintech, IT, data analytics, hardware, robotics, biotechnology and sustainable technology.
A strong starting point
Lo says start-ups are drawn to Hong Kong’s status as an international financial centre and availability of talent. “People don’t recognize the diversity of Hong Kong’s talent pool – we have people from around the world,” he says. “We have both a Chinese and English speaking community, and people who are educated locally and internationally. This is something unique.” This city’s talent, combined with its geographic location, present another key advantage, he adds. “Because Hong Kong is in the centre of East Asia, it makes it convenient for companies to cover the whole region in terms of time zones,” he says.
Stephen Phillips, Director-General of Investment Promotion at InvestHK, agrees, noting that Hong Kong’s proximity to Mainland China and its location within Asia Pacific provide a distinct advantage. “Hong Kong is a great place to headquarter a start-up – you’ve got the Hong Kong market, the scale of the Greater Bay Area (GBA) and wider China market, and access to ASEAN countries,” he says. “Through Hong Kong, start-ups are able to access different markets, capital and talent.”
Hong Kong is also home to more than 60 start-up incubators and accelerators, according to data from Tracxn Technologies Limited, an IT services company. Cyberport Hong Kong, which is managed by a company wholly-owned by the Hong Kong government, is home to the city’s largest fintech hub and provides tech start-ups with the boost needed to bring their products or services to the market through benefits such as seed funding, exposure to investors and customers, and office space.
Tech hubs like Cyberport are key to Hong Kong’s start-up ecosystem, and start-ups should utilize them, says its Chief Public Mission Officer Eric Chan, as they also have the premises to test, support and invest in a company’s products. “With over 1,800 companies in our community, Cyberport is an I&T hub. We have our own hotel, office buildings, co-working spaces, and a shopping arcade. Start-ups can also meet our needs as a community and business,” he says, explaining how Cyberport adopts start-up solutions for its infrastructure. “This allows us to be reference customers for start-ups. We also help connect start-ups to large enterprises, corporates or conglomerates.”
Another hub supporting the growth of start-ups is managed by statutory body, Hong Kong Science and Technology Parks Corporation, which as of April, has helped to nurture over 1,100 start-ups in I&T. It has seen two start-ups become unicorns, and one start-up successfully list on the Hong Kong Stock Exchange.
Chan says that Hong Kong’s start-up landscape has thrived over the years as a result of its support system of incubators and accelerators. “Back in 2014, there were no unicorns in Hong Kong,” he says. “Now, there are roughly 18 in the city, and six of them come from Cyberport. Over the past 18 years, we’ve supported over 1,000 tech start-ups with our entrepreneurship programmes.”
William Lam, Chief Executive Officer of iFinGate, a Cyberport-incubated start-up, says that by headquartering in the city, his company has been able to tap into talent and clients from around the region. “Being in Hong Kong has helped us to easily build our regional footprint,” Lam says. “Though we’re based in Hong Kong, we have clients in the GBA, Singapore, South Korea, Taiwan, Australia and the United Kingdom.”
Lam is aware that his start-up, which specializes in regulatory technology or RegTech, is operating in a niche field, but says that the city’s existing regulations and openness to tech solutions have helped the company to thrive. “Hong Kong is a very well-regulated economy and financial centre, and the market is well aware of compliance requirements,” he says, noting that initiatives from regulators such as the Hong Kong Monetary Authority (HKMA) have helped to boost the adoption of RegTech in recent years. For example, in June 2021, the HKMA launched the Regtech Adoption Practice Guide series, to provide banks with guidance on how to implement RegTech solutions. “This has helped us to grow our products more easily in Hong Kong,” he adds.
Honnus Cheung CPA, Founder of Mojodomo, a Cyberport-based fintech company with offices in Taiwan, Singapore and Ireland, says Hong Kong’s low tax rate and legal framework provide entrepreneurs with another incentive to set up in the city. “Hong Kong has always been a very business-friendly environment, and has maintained its low tax rate for many years,” says Cheung. The city’s corporate tax rate of 16.5 percent – which is lower than that of Mainland China, Singapore and Taiwan, for example – has indeed remained unchanged for almost 15 years. “Hong Kong’s simple tax system makes it easy for start-ups to understand what tax they need to pay,” she adds.
“Hong Kong is a great place to headquarter a start-up – you’ve got the Hong Kong market, the scale of the Greater Bay Area and wider China market, and access to ASEAN countries.”
Tapping into talent
Recent announcements seek to fortify Hong Kong’s status as an I&T hub within the GBA. In February, the government announced that as part of its Budget 2022-23, HK$100 billion will be set aside for its Northern Metropolis Plan. The project will see the development of a large metropolis near the Mainland China border over the next 15 years and, within it, a 240-hectare plot of land dedicated to a technology hub called the San Tin Technopole, which hopes to create some 150,000 jobs in the I&T sector.
Lam welcomes the idea, noting that the development will allow start-ups to access talent across the border and better leverage the vast opportunities for business expansion within the Mainland. “By hiring talent from the GBA, who may have a better understanding of the GBA market and connections in the Mainland, start-ups will be able to roll out products and services in the GBA more effectively,” he adds.
The potential for growth within the GBA is immense, adds Chan, noting that start-ups need to leverage Hong Kong’s proximity to the Mainland to access more opportunities. “Though many start-ups may think Hong Kong is too small for them to grow or become a unicorn, the GBA will provide them with more potential to expand and tap into its population of 86 million people and a slice of its GDP, which was 12 trillion yuan in 2021. This presents a huge market for start-ups.”
Attracting and retaining the best talent is especially important, says Cheung, who notes that Hong Kong is experiencing a talent shortage in the tech sector. “People with technical skills in digitalization and tech are in demand globally – not just in Hong Kong,” she says.
To cope with the lack of supply, Cheung’s start-up decided to look beyond the city and tap into the availability of remote workers elsewhere. “I know a lot of companies that are considering outsourcing their tech or research and development (R&D) functions,” she says, noting that her start-up ended up outsourcing its IT function to Taiwan. “There is more IT talent in places like Taiwan and Vietnam; more students choose to become developers in those places.”
In addition to providing more robust facilities, Phillips believes that the San Tin Technopole will see Hong Kong act as a key connector between start-ups in the GBA and international markets. “It will provide start-ups with more space, high quality facilities such as labs, and also housing for key talent,” he says. “The Northern Metropolis is inextricably linked with the development of the GBA as a whole. This means it will provide more start-ups with the space to continue growing; they’ll be able to leverage the international status of Hong Kong and grow and scale within the GBA.”
Lo believes the development of the San Tin Technopole will ultimately help to diversify Hong Kong’s economy. “The city can’t simply focus on its real estate or financial services sector forever. We need different jobs and opportunities for people today and the next generation,” he says. “Tech and transformation is very important for the overall economy. If you fail to innovate and fail to drive progress, you’ll lose out in this global competition.”
A need to adapt
Cheung says that the main impediment Hong Kong’s businesses and start-ups still face is the city’s mandatory seven-day quarantine for all incoming residents and travellers. This, she says, makes it difficult for entrepreneurs to meet potential investors or partners in person. “Travelling in and around Asia Pacific was very easy before the pandemic, making it easy for businesses to raise funds and conclude business deals in an effective and productive manner,” she says.
Though meetings can take place virtually, they lack the personal touch that comes with in-person meetings, which Cheung stresses is key to building long-term trust with investors and partners who may be interested in a start-up’s products or services. “Say a start-up needs to demonstrate a new product, conduct an on-site company visit, or meet investors in person for a deal. Though it’s possible to meet via Zoom, it will never replace a face-to-face meeting,” she says. “It’s not a major disadvantage, but definitely a hindrance when it comes to networking or knowledge exchange. As a start-up founder myself, it’s important that I’m able to set up or oversee things in person.”
Start-ups are also operating in unprecedented times, which presents additional risks, notes Phillips. “Clearly, the world is facing geopolitical challenges now, whether it’s in this region or the Russia-Ukraine conflict and the wider ramifications that they bring,” he points out. Some younger entrepreneurs may not have developed the skills and knowledge in effectively navigating complex environments the way larger corporations may be accustomed to, he adds. “Inflation is rising sharply in many places and interest rates have been going up. Very few people in the start-up environment will have experienced such a complex and inflationary environment like this before.”
The economic slump is having a knock-on effect on start-ups, Lam explains, which is leading to dampened investor sentiment. “The world is going through a period of ‘stagflation’ now,” he says, referring to an economy with high unemployment and little to no growth even as prices are rising faster than normal. “Under this situation, start-ups have to be aware that investors and clients may be more sceptical and want to know that they are investing in a company that will guarantee returns.”
However, Lam points out the global economic slowdown may create opportunities for start-ups in the I&T sector. “The need for efficiency and automation may also create more demand. Clients and investors may seek products that are efficient, able to automate tasks, and could potentially reduce their headcount or processes.”
Despite the current challenges, Phillips says start-ups tend to be better at dealing with uncertainty due to their smaller size and higher degree of flexibility to pivot the business. “For example, many start-ups have been able to cope with the challenges brought about by COVID in a much swifter way than some of the larger companies,” he says. “Of course, this has meant changing their strategies, focus and priorities in a proactive and agile way to cope with and, indeed, leverage disruption and change.”
“Start-ups have to be aware that investors and clients may be more sceptical and want to know that they are investing in a company that will guarantee returns.”
With the pandemic changing employees’ attitudes towards where, when and how to work, start-ups should embrace flexible working arrangements and in doing so, provide the right tools to facilitate it, says Lam. “Start-ups should have the right infrastructure in place in order to support remote work so that tasks can safely be done anywhere. This will help start-ups to attract more talent,” he says.
Lo agrees, adding that the pandemic has opened up a new “global” talent pool, which entrepreneurs should utilize. “The pandemic has accelerated digital transformation and forced leaders to rethink how they should manage their talent,” he says, quoting Brian Chesky, the Chief Executive Officer of Airbnb, Inc, who in April tweeted: “Companies will be at a significant disadvantage if they limit their talent pool to a commuting radius around their offices. The best people live everywhere.” Though Lo says Prenetics doesn’t plan on having a fully remote team just yet, he notes that it is up to start-ups to reconsider how they source talent and leverage the situation to their advantage.
However, Phillips strikes a note of caution and says that start-ups should aim to strike a balance between flexible working and in-person teamwork. “Building an innovation-led business requires an extraordinary amount of collaboration and commitment. People are so critical and still need to speak and bounce ideas off each other in person,” he says. Though there are online collaboration tools to support this, Phillips draws on his own start-up experience and says it won’t be the same as in-person collaboration. “I can see why entrepreneurs are facing a bit of a conundrum now between working trends and building a successful business.”
To retain talent, Chan says entrepreneurs need to find new ways to build a sense of loyalty among their staff as they continue working remotely. “Young people want to invest their time in companies that invest in them,” he says. “By introducing a training and development programme, start-ups can demonstrate this commitment to their staff. They could also consider supporting employees who are pursuing or furthering their education.” Chan adds that Cyberport also provides relevant training to start-ups through its Cyberport Academy.
“Young people want to invest their time in companies that invest in them.”
All’s well that starts well
As Hong Kong continues to pique the interest of entrepreneurs and talent globally, it is important that start-up leaders perform the relevant research and planning before setting up a business in the city. Doing so will help to ensure long-term growth and future relevance, says Phillips. “Entrepreneurs need to prepare well. This involves testing the market. There is a wealth of support and advice available, including from InvestHK. I encourage entrepreneurs to use it.”
Start-ups need to have a solid “go-to-market” strategy, an action plan that specifies how a company will reach target customers and achieve a competitive advantage. This involves a well-thought-out marketing plan and sales strategy. “Some start-ups have really good technologies and ideas, as well as strong R&D and tech teams, but they may not have the right go-to-market strategy. Or, their products thrive in the market for only one or two years before becoming obsolete,” he says. To prevent this from happening, start-ups should constantly be testing their products on select customers during the development stage. “So when the products eventually roll out, they’ll be able to meet market needs.”
Lo believes Hong Kong’s tech start-ups and start-up communities will continue flourishing. Pursuing and pushing for innovation, he says, will help the city maintain its relevance and continue attracting only the best talent for generations to come. “A city is a sum of its industries and its people. With great talent and industries, it will thrive. But if the city doesn’t innovate or change, it will eventually become irrelevant,” he cautions. “The pace of digital disruption has increased, and Hong Kong has to be at the cutting edge of innovation – this will ensure that it remains competitive on a global scale and maintains its role as an international city in Asia.”
There are more than 3,700 start-ups in Hong Kong compared with just over 2,200 in 2017, according to InvestHK’s 2021 Startup Survey. The majority of them specialize in technology, including fintech, IT, data analytics, hardware, robotics, biotechnology and sustainable technology.


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Uber is said to mull major layoffs as CTO exits
As people continue to stay home amid the coronavirus pandemic, leadership at Uber is discussing potentially laying off as much as 20% of the company's workforce, according to The Information. The company's chief technology officer, Thuan Pham, has also recently resigned, Uber confirms.
The big picture: Though Uber's food delivery business is experiencing a boom as restaurants seek to remain afloat, much of its ride-hailing business has dissipated — dipping 60–70% in Seattle during the height of the city's outbreak, for example.
- The company also recently withdrew its financial forecast for the rest of the year, signaling it anticipates its business to be affected for months to come.
Per a spokesperson: "As you would expect, the company is looking at every possible scenario to ensure we get to the other side of this crisis in a stronger position than ever."
Go deeper: The gig economy's coronavirus test


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Guitar weapons? Check.
Games taking place in apocalyptic wastelands is not a particularly new idea, but this latest effort from publisher Atari and developer Sneakybox certainly looks intriguing.
Launching “later this year” on Nintendo Switch, Days of Doom is a tactical RPG in which you’ll be roaming a colourful yet deadly wasteland filled to the brim with zombies, raiders, zombie raiders, and mutant lizards. You take command of a group of survivors and must utilise their unique abilities to survive against ever-increasing odds.
Read the full article on nintendolife.com


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Samsung may be well known for the Galaxy S, Edge, and Note flagship smartphone series, but it was the Galaxy A series that started Samsung’s new tradition of using premium materials such as metal.
The Galaxy A series isn’t as well known as the other phones, but the Korean giant has released a number of models, including the Galaxy Alpha, Galaxy A3, Galaxy A5, Galaxy A7, and Galaxy A8. Apparently, Samsung believes there is still a market for the A series, because the company officially unveiled the rumored Galaxy A9.
Updated on 12-23-2015 by Williams Pelegrin: Added official information from Samsung about the Galaxy A9.
With a 6-inch, 1,920 x 1,080 resolution display, the Galaxy A9 is easily one of Samsung’s biggest smartphones currently available. Under the hood lies an octa-core Qualcomm Snapdragon 652 processor, which used to be the Snapdragon 620 before Qualcomm weirdly decided to rename it. Regardless, the chipset is paired with 3GB of
Elsewhere, the Galaxy A9 packs a 13-megapixel camera on the back and an 8-megapixel camera on the front, which should make selfie lovers everywhere quite happy. In addition, the large 4,000mAh battery should keep the lights on all day long.
As previously mentioned, the Galaxy A series is Samsung’s line of smartphones that finally introduced premium materials like metal. The Galaxy A9 evolves on that achievement by featuring an all-aluminum build, a welcome departure from the front and rear glass panels found on Samsung’s latest flagship smartphones if you’re not fond of your phone being smothered by fingerprints.
Much like the Galaxy A5 and A7 before it, the Galaxy A9 packs support for Samsung Pay. As such, the handset also adds a fingerprint scanner that doubles as the home button, a security feature initially implemented in Samsung’s flagship smartphones.
Finally, and most disappointingly, the Galaxy A9 will ship with Android 5.1 Lollipop installed. It could be a matter of Samsung still tweaking TouchWiz to play nice with
Samsung did not reveal pricing or availability information, though we suspect that, much like the previously-announced Galaxy A smartphones, the Galaxy A9 will initially be available in China sometime in the near future.
Next page: All the previous rumors about the Samsung Galaxy A9
Mix of mid-range and high-end specs
Samsung traditionally includes mid-range specs on the A series phones, even though they feel as premium as any of the company’s flagship phones. However, the most recent Galaxy A8 model did get a decent mix of higher-end and mid-range specs to satisfy a wide range of consumers. The Galaxy A9 will most likely follow this same path.
What may be an official infographic from Samsung has supposedly leaked online, and it compares the recently announced Galaxy A5 and Galaxy A7 with the Galaxy A9. According to the infographic, The Galaxy A9 will feature a 6-inch Super AMOLED display with a resolution of 1080p (1,920 x 1,080 pixels). It will be powered by a 1.8GHz quad-core Qualcomm Snapdragon 620 processor and sport 3GB of
The rear camera will be 13 megapixels, while the front selfie camera will come in at 8 megapixels.
The battery will be a whopping 4,000mAh, and the rest of the specs include a fingerprint scanner, support for Samsung Pay, and
Both benchmarks showed a phone with a model number of SM-A9000, which is an indication that it’s the Galaxy A9. They revealed a 5.5-inch Super AMOLED screen with a resolution of 1080p (1,920 x 1,080 pixels), which is smaller than the Galaxy A8’s 5.7-inch display. According to the benchmarks, the phone is powered by a Qualcomm Snapdragon 620 chip, which is a 64-bit octa-core processor consisting of a quad-core Cortex-A72 and a quad-core Cortex-A53. It will also have an Adreno 510 GPU, 3GB of
The benchmarks didn’t reveal anything about the cameras on the Galaxy A9
Bear in mind that although these benchmarks give us a good indication of specs, the devices tested are usually early models, so things can change. For example, this test unit is running
Nothing has been revealed yet in terms of the design, but we’re expecting the Galaxy A9 to continue the Galaxy A series tradition of using premium materials such as an aluminum frame. We also won’t be surprised if the Galaxy A9 is super thin, since the Galaxy A8 was only 5.9mm thick. It’s hard to believe that Samsung could go much thinner than that, but each Galaxy A phone has been thinner than its predecessor.
Availability and pricing
The Galaxy A8 was just announced in July, so we are probably a few months away from an official Galaxy A9 launch. In early October, the components of the Galaxy A9 were shipped to India for testing, according to a Zauba manifest. Since it was just the components, it’s clear Samsung isn’t quite ready to release the Galaxy A9 just yet. It will more than likely arrive early next year. Perhaps we will see it at the
As to pricing, it may to cost about the same as the Galaxy A8. Currently that phone is selling in India for Rs 32,500, which translates to about $500.
Updated on 11-24-2015 by Kyle Wiggers: Added a recent Geekbench upload which corroborates earlier leaked benchmarks.
Updated on 12-14-2015 by Robert Nazarian: Added what could be official specs based on a leaked marketing materials.
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Apple Inc. develops Ping as a way to enter the social media market
Ping, a music social network, has Apple Inc entering the social media market with its announcement on September 1. Ping which is an addition to Apple's iTunes, allows users to see what songs friends are buying and allows users to recommend favorites reported the Associated Press. Apple hopes Ping will increase music sales as Sony attempts to compete with Apple. Sony will release their system Qriocity, which will rival iTunes the Minnesota Daily reported. Ping users will have access to features such as ticket updates and join in worldwide conversations. According to the Minnesota Daily, users of Ping have increased steadily but many have yet to try it.


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Since 2011, a group of enthusiasts and collectors have been obsessed with the physical manifestation of Bitcoin. On the face of it, physical Bitcoin seems like a contradiction to the key terms that define it, so a trustless, instantly transferable virtual currency becomes a real world coin that has all the disadvantages of Earth-bound cash.
An offline mobile map for travelers has raised $50 million in a seed-funding round led by Alameda Research. Announced Monday, the funding will go toward the launch of a multi-currency wallet on Maps.me and enable a decentralized finance (DeFi) ecosystem on the offline mobile map platform. Cryptocurrency lender Genesis Capital and institutional cryptocurrency firm CMS
XRP’s woes continue, as its recovery on the cryptocurrency market seems unattainable in the near future. While XRP has been losing in value, other cryptocurrencies have been stamping in their worth. Polkadot has been performing well, surging by about 60% in the past week. Meanwhile, XRP has lost by more than 9% and has once
A third of Indian households use digital payments, with usage spread across income groups, according to a survey. The National Payments Corporation of India (NPCI) and People Research on India’s Consumer Economy (Price) surveyed more than 5000 households across 25 states on their use of digital payments. Around half of the country’s richest 20% of
To think that such a festive concept, one that evokes both sophistication and childlike wonder, could become so financially charged … Last week, Bank of America Securities chief investment strategist Michael Hartnett said in a note that bitcoin looks like “the mother of all bubbles.” Harnett seems to be using the strength and speed of
China’s Blockchain-based Service Network (BSN) – a permissioned blockchain network for building decentralized applications and tokens – plans on releasing a beta central bank digital currency (CBDC) as early as the second half of 2021, according to a Jan. 15 blog.
Bitcoin has seen some choppy price action throughout the past couple of days, with buyers and sellers largely reaching an impasse Following a swift overnight decline, Bitcoin has posted a strong rebound that has allowed it to surge back to $36,000 Where it trends next will undoubtedly depend on whether or not buyers can flip
David Schwartz, current chief technical officer at Ripple, is responding to reports his predecessor had lost access to hundreds of millions of dollars in Bitcoin. In a Quora post on Thursday, Schwartz said recent reports about former Ripple CTO Stefan Thomas forgetting the password to an encrypted hard drive containing thousands of Bitcoin (BTC) were
On Jan 16, 2020, the parent company of K-pop sensation girl band Mamamoo revealed that it would release non-fungible tokens (NFT) on Hong Kong-based exchange Xeno. K-pop Merch Going Digital The move by RBW (Rainbowbridge World), a South Korean entertainment company that represents top K-pop bands, will enable music fans to purchase digital merchandise associated
The cryptocurrency market is trending once again, thanks to Bitcoin’s big breakout and rally beyond $40,000. Altcoins are also following the BTC’s lead, which in turn has sparked massive FOMO amongst retail investors, alongside institutions. Investors are flooding eToro like never before, causing new user registrations to grow 25 times the number the company was


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On August 4, 2015, the CFPB announced that it filed a lawsuit in federal district court against NDG Enterprise (NDG), a complex web of commonly controlled companies, for collecting money consumers did not owe. The complaint alleges that NDG violated the Dodd-Frank Wall Street Reform and Consumer Protection Act's prohibition on unfair, deceptive, and abusive acts and practices.
NDG originates and collects payday loans over the Internet to consumers in all 50 states. The complaint alleges that NDG originated, serviced, and collected payday loans that were void in whole or in part under state law in seventeen states under state licensing regulations or usury caps. NDG's unfair, deceptive, and abusive practices were numerous, and included, according to the complaint:
- Making false threats to consumers by threatening lawsuits, arrest, imprisonment, or wage garnishment, without legal authority to take those actions.
- Deceiving consumers about their debts by telling the consumer to repay a loan that, under state law, the consumer had no obligation to pay.
- Using illegal wage-assignment clauses in the loan agreements that allowed NDG to take payments directly from consumers' employers' payroll accounts.
Under the Dodd-Frank Act, the CFPB may seek monetary relief and damages, and a prohibition on unfair, deceptive, and abusive acts and practices.
For more information, please contact Venable's CFPB Task Force.


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NEW YORK (CBS.MW) -- Blue chips tumbled Thursday after Dow component Merck hit an eight-year low following its decision to pull Vioxx, its arthritis drug, off the market, while gains in the semiconductor sector limited the pullback on the Nasdaq. See full story.
Merck hits 8-yr. low on worldwide withdrawal of Vioxx
NEW YORK (CBS.MW) -- Shares of Merck & Co. lost more than a quarter of their value Thursday after the company pulled its arthritis drug Vioxx from the market, saying it could increase a patient's chance of having a heart attack or stroke. See full story.
Bond Report: Treasurys thud lower after U.S. economic data
CHICAGO (CBS.MW) - U.S. Treasurys wiped away early gains, with prices thudding lower after a collection of U.S. economic data had some analysts raising third-quarter growth forecasts. See full story.
Economic Report: U.S. Aug. incomes rise 0.4% while spending is flat
WASHINGTON (CBS.MW) -- A key gauge of consumer price inflation was unchanged for the second month in a row in August, the Commerce Department said Thursday. See full story.
PepsiCo shares gain after Q3 results beat Street
CHICAGO (CBS.MW) -- Shares of PepsiCo rose Thursday after the food and beverage giant nosed past Wall Street's profit target on strength in its international and Frito-Lay units. See full story.
John Dvorak's Second Opinion: The coming LCD glut
BERKELEY, Calif. (CBS.MW) -- Analyst and CEO Malcom Penn, of Future Horizons, writing in EETimes outlines in interesting future for the LCD industry as it attempts to push LCD TV's into the home. See full story.
Retailers crack down on 'repeat returners'
SAN FRANCISCO (CBS.MW) -- Shoppers who habitually return or exchange clothes or other products could be in for a rude awakening: Some stores now track customers' habits and deny returns to those who too often seek to trade in merchandise. See full story.


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Back in January we heard that BlackBerry had filed a lawsuit against the company that makes the Typo Case for the iPhone.
The case was launched by TV personality Ryan Seacrest, who is known for being a judge on American Idol in the US, and as soon as the case was launched, BlackBerry decided to take them to court.
The Typo Case is placed over the display of the iPhone, and it basically gives the handset a similar appearance to a BlalckBerry smartphone.
BlackBerry were less than impressed with this case, and obviously thought that taking the company that created it to court would be in their interest.
The judge dealing with the case, William H Orrick thinks that BlackBerry will be successful with their claim against the Typo Case, and has issued a preliminary ruling that will halt sales of the device in the US.
“While we are flattered by the desire to graft our keyboard onto other smartphones, we will not tolerate the deliberate use of our iconic design without proper permission,” BlackBerry said in an email sent late on Friday. “We are proud of our keyboard and will vigorously protect our intellectual property.”
In order for the ban to come into place, BlackBerry has to post a bond to cover any potential damages that Typo Products could be awarded in BlackBerry looses the court case.
It would appear that the Typo Case has not been very popular,the device launched back in January, and it retails for $99, although only 4,000 units of the case have apparently been sold since launch.
Image Credit Digital Trends
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Mercedes has debuted the 250 mile, eight-seat EQV van
By Nicholas Yekikian
Mercedes plans on seriously bolstering is electric vehicle lineup over the course of the next few years. They’re already integrating mild-hybrid systems on some of their performance cars (the straight six E43 AMG coupé, to be specific) and the EQC, a fully electric crossover, is already on its way.
Now, Mercedes is electrifying another segment with the new eight-seat EQV van. Announced earlier this year and promised to be ready for production before the year’s end, the EQV made its official debut this week.
The new EQV isn’t the first electric van in the Mercedes Benz fleet, the new van joins the eSprinter and the eVito in that regard, but it is the first people carrier that will be made available to the masses.
It will pack a 10inch MBUX infotainment setup with voice commands. There are also a series of driving modes. Eco mode combines navigation data, road traffic sign recognition and information provided by the intelligent safety assistance systems (radar and camera), and adjusts the level of recuperation itself to ensure the maximum in effeciency.
A 201hp electric motor buried somewhere behind the front bumper powers the front wheels from the 90-kWh battery mounted in the floor. The EQV’s range hasn’t been certified, but Mercedes’ estimate puts it at 253 miles of EV range – 33 more miles of range than the EQC. Oh, and if you really want, the EQV will do 99 mph – that’s it though.
Using a standard wall outlet and Merc’s Wallbox Home charger or a standard charging station will grant you a full charge in 10 hours. Hook the EQV up to a DC fast charger though, and the time for a flat to 80 percent dives to just 45 minutes. Not bad. Here’s to hoping Mercedes brings the new EQV stateside.
What is Borrow?
Borrow is an electric vehicle subscription company with one goal: to make driving an EV as simple and accessible as possible. It’s the only vehicle subscription service of its kind and is bringing the future of car ownership to its customers today.


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3D Printing is making inroads into our daily lives in a big way. Every now and then, we have been hearing about 3D printed body parts, prototypes, houses, food and so on. With the recent initiative think3D has taken and with the kind of response the event received, it is proven that 3D Printing has a major role to play in Art in days to come. think3D has partnered with Oakridge International School, one of the top K12 schools in India to come up with 3D Printing Art exhibition as a part of the school’s founders day celebrations conducted on 17th December, 2014.
Various art work by primary school kids at Oakridge International School were converted into 3D models by the think3D technical team and these models were printed using 3D printers. Selected students from 5th standard of Oakridge International School, assisted by the think3D team gave a run through of the technology, gave a demo of the machine and showed these 3D printed art exhibits.
Mr. Reddy, co-founder of think3D shares that “With the advent of 3D Printing, we can now visualize your child’s imagination in a three dimensional space. In the education sector, apart from art and creativity, 3D printing can help the teachers a lot in situations where students are expected to visualize complex shapes and mechanisms.”
According to one of the art teachers, “Drawing is a form of expression of your imagination, your creativity and the way you envision the world. It’s a completely different feeling if we can give shape to our dreams, thoughts and creativity, which these 3D printed models are able to achieve.”
Response to this exercise from parents has been fabulous. Among various stalls, this stall stood out due to the unique idea of creating physical shapes from the 2D drawings of students. One of the parents who visited the stall was very excited, and feels that, the childrens’ be unleashed freely and they will be able to take creativity to an entirely new and exciting level.


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The star producer reveals the eight shows she plans to make for the streaming service, which wooed her away from ABC with a nine-figure deal.
Two decades ago, a new approach to power delivery led to blackouts. Now the state is considering another energy makeover: a regional electric grid.
Elon Musk apologized for calling a Thailand cave diving rescuer a pedophile, while Mark Zuckerberg was tongue-tied by Holocaust deniers.
Christie’s inaugural Art & Tech Summit in London showed what blockchain can (and can’t) do for the market.
Mozilla’s overhaul of its flagship browser is incompatible with certain add-ons, but you can still rescue your saved passwords with a little extra effort.
The company, which reported a 30 percent decline in net profit to $615 million, has set about shrinking its business to focus on three major operations.
Transit advocates fear that unrealistic hopes for new technology — and how soon it’ll get here — could lead cities down the wrong path.
As it prepares to list shares on the Nasdaq, the fast-growing online marketplace has been hit by a complaint that it allows sales of knockoff diapers.
Asked about the kind of content Facebook keeps up and the kind it removes, company executives from Mark Zuckerberg on down have been comically tripped up in their responses.
The cloud computing market is booming, but companies are leery of relying on one tech giant. That is helping Microsoft.
The European Union fined Google a record $5.1 billion. But the ruling will probably have little effect on current Android users.
Radio Free Europe/Radio Liberty is mostly restricted by law from promoting its content in the United States except on request.
President Trump has repeatedly criticized the European Union for what he insists are its unfair trading practices.
If the thought of saving a huge folder of photo files in a different format makes you tired, perk up. You can do them all at once, and you may not even need expensive software.
Qualcomm’s chief executive, Steve Mollenkopf, needs Beijing’s regulatory approval to buy another chip maker, NXP. But a prolonged deal review by China is widely seen as retaliation for U.S. tariffs.
The City Council voted unanimously to significantly regulate Airbnb and its peers, taking aim at landlords renting apartments a few nights at a time.
Critics say the company has not done enough to block false posts that have led to attacks in countries including Sri Lanka, Myanmar and India.
The tech billionaire had faced mounting criticism from investors for calling the British diver a pedophile after the man criticized Mr. Musk’s submarine.
Facebook’s chief executive had said in an interview that false and “deeply offensive” conspiracy theories alone were not enough to get someone barred from the site.
Our newly engaged tech columnist tried to use tech to plan his wedding. He was immediately overwhelmed by the complexity of the process.


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In a challenging holiday season, appealing merchandise at an attractive price point is the key to salvaging gross margins.
More than any other factor, financial experts said holiday results this year will come down to product. Industry experts differ in their expectations for fourth-quarter margins because of a season marked by macroeconomics that squeezed consumers, as well as stormy weather that disrupted shopping across large swaths of the U.S. Some predicted that final numbers will defy expectations, while others caution that being promotional too early in the season will adversely affect fourth-quarter margins.
There is consensus, however, that the quarter is likely to shape up to be a retailer-by-retailer story.
“No one has the perfect crystal ball,” said Craig Johnson, president of Customer Growth Partners. “You never know what’s hot from one week to the next. If you have a nimble supply chain, you can get it right.”
There are headwinds for consumers this year that could be a factor for some — although not all — retailers, analysts said. Economic pressures have made holiday shopping even more competitive.
“In this type of environment, it is more important for the retailer to have something new and exciting and interesting,” said Howard Tubin, director of equity research at RBC Capital Markets. “If you don’t give them a reason to shop, they won’t shop.”
“The customer has to want what you’re offering,” said Richard Jaffe, analyst at Stifel Nicolaus & Co. Inc. “There are issues about attractiveness of product, competitiveness in the marketplace and the willingness of the consumer to spend.”
If consumers are not excited by what is in a store, little else matters.
“If you have the right product, margins should be fine,” said Christine Chen, analyst and vice president equity research at Needham & Co. “The big unknown is how promotional the environment will get and the percentage of planned promotions versus unplanned promotions.”
The fallout from high gas prices, the housing slowdown and tight credit makes consumers more attuned to the lure of discounted product.
“Shoppers are more keenly aware of discounts this year than in past years,” said Stanley Officina, president of Ultimate Financial Solutions. “We don’t expect substantial gross margins at retail.”
It doesn’t matter how good an inventory position is, he said. Whatever price is paid for an item if it has to be marked down, it affects margins.
Not all retailers are expecting a poor showing for the quarter. Customer Growth Partners’ Johnson said he expects retail margins in all sectors to be better than anticipated based on strong top-line sales growth. In the apparel sphere, however, results could be more mixed, he said. Individual store performances are varied, with some in the ditch and some showing signs of a comeback. In general, mainline women’s apparel is not doing well, but youth stores are, he said.
In the specialty sector, American Eagle Outfitters and J. Crew could post improving gross margins because they have had the right product and have tightly controlled inventory, some analysts said. Aéropostale also could do very well in the fourth quarter, sources said.
“Aéropostale is in, and as the kids would say, ‘American Eagle is so over,'” said Johnson. The margins of well-run companies will follow the top line, he said.
Broad-line retailers could face pressures as well, with tough comparisons year-over-year.
“A lot of retailers planned their inventories more conservatively. There is more of a gross margin risk this year versus last year, with slow top-line growth and the promotional environment. A lot more business is being done around promotion events. More customers are also buying closer to need, so we have no idea how promotional stores are going to get. But no one is overreacting yet, there are still no aggressive unplanned markdowns,” said Deborah Weinswig, analyst at Citigroup, of the broad-lines sector.
Saks, Kohl’s, J.C. Penney and Nordstrom all are expected to report negative margins partly due to tough comparisons year-over-year, Weinswig said. Macy’s is expected to be flat. For some retailers the fourth quarter will not be a good one for gross margins, which could have an impact since it is usually considered a good period, she said.
On the supply side, manufacturers and suppliers are also not immune to margin pressures.
“Most wholesale companies, if they were prudent, should have started to cut back or source more selectively coming into the fourth quarter. What has happened is that retailers in select cases have deferred and canceled certain orders,” said Michael Stanley, managing director, Rosenthal & Rosenthal. There were earlier indications that things were softer in the first two quarters of the year, he said.
Excess inventory at this stage could be more problematic than last year because the retail sources to dispose of that inventory have narrowed, Stanley said. For wholesalers, holding excess inventory could prove to be very problematic.
There is also the issue of markdowns, sources said. One financial source pointed out that, historically, certain retailers have used markdown allowances to fix their gross margins. “Retailers try to survive any way they can and it comes home to roost with importer or manufacturer, and they pass it on to their suppliers. It moves down the food chain. When things are tight, it affects everyone,” said one financial executive.
No matter what happens during the holiday season, the long-range impact of the period could be felt long after the fourth quarter closes.
“People save up for the holidays. The question is, what will happen to spending in 2008? Fourth-quarter expectations are so low,” said Chen.


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(CBS) -- There's a new recall affecting hundreds of thousands of air fryers that were sold by Best Buy. About 635,000 Insignia Air Fryers and Air Fryer Ovens are being recalled.
The recall notice posted by the Consumer Product Safety Commission says the appliances "can overheat, posing fire and burn hazards."
So far there have been more than 100 reports from customers about the air fryers "catching fire, burning or melting." The incidents have resulted in seven cases of minor property damage and two injuries to people, including a child.
The recalled air fryers were sold at Best Buy stores across the country and online from Nov. 2018 to Feb. 2022 for between $30 and $150. They have cooking chamber capacities between 3.4 and 10 quarts.
The recalled digital and analog air fryers have model numbers NS-AF32DBK9, NS-AF32MBK9, NS-AF50MBK9, NS-AF53DSS0, NS-AF53MSS0, NS-AF55DBK9, NS-AFO6DBK1 and NS-AFO6DSS1.
Anyone who bought a recalled air fryer can return it for a refund. Click here to read the full recall notice.
for more features.


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17th ExpoHoReCa was held in Saint Petersburg at the end of February. It was the first time the hospitality event has taken place at a new location – ExpoForum Convention and Exhibition Centre. TOHOLOGY visited the exhibition and prepared a photo coverage of the upgraded event in the HoReCa sphere. Photos of the exhibition and business section of ExpoHoReCa 2019 are available in the photo slider (please see below).
Photo gallery of the ExpoHoReCa 2019 at the ExpoForum Convention & Exhibition Centre
Photography: Andrey Ivanov / TOHOLOGY Production
Amadeus announced that it has completed the acquisition of TravelClick. The transaction has now received all necessary regulatory approvals, including competition clearance in all relevant markets.
Tourism leaders from across the public and private sectors came together at the World Travel Market in London for a high-level discussion on tourism’s role in rural development, the challenges and the opportunities. The Ministers’ Summit, hosted by the World Tourism Organization, focused on tourism innovation and technology and their place in empowering rural communities.
What are the candidate requirements at luxury hotels at the Canadian chain Four Seasons? What is more important, specialised education or experience?
St. Petersburg hosted the festival of short fashion films “A Shaded View on Fashion Film”. We were attracted by the fact that the director's movie was shot at the hotel.


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As if the Internet advertising industry needed any more indicators of hard times, two advertising infrastructure firms set layoffs Thursday morning as part of cost-cutting efforts.
Coming on the heels of a
disappointing quarter for
, the news makes it perfectly clear that the advertising downturn hurting the ad revenues of Internet content companies like
is also hurting the companies supplying services and technology to advertising.
, developer of technology that lets advertisers modify ad campaigns automatically in response to internal data, says it's laying off 28% of its staff. That would amount to about 83 employees out of 297, as of Sept. 30. The company had nearly tripled in size from a year earlier, when it had 109 employees. In early afternoon trading Thursday, Mediaplex shares fell 44 cents to $1.31. Engage shares were up 3 pennies to $1.38.
Mediaplex says it's tracking the low end of fourth-quarter earnings estimates, and per-share results will be worse than expected, due in part to a one-time restructuring charge. The company says it expects to cut expenses by about $10 million during 2001 as a result of staff and operating cost reductions.
Analysts had been expecting Mediaplex to lose 16 cents a share in the fourth quarter, according to the consensus figure from
. Mediaplex, which had an operating loss of $8.3 million on revenue of $13.5 million in the third quarter, is expected to have revenue of $15.5 million to $16.2 million in the fourth quarter, according to First Call's three-analyst estimate.
Meanwhile, permission-based email marketing firm
says it's cutting 100 positions domestically and embarking on other cost reductions that are estimated to save $3.5 million to $4 million per quarter. The company had 498 employees, including 417 domestic workers, as of Wednesday. MessageMedia was off a half dollar to 94 cents.
The company says it expects to make money before interest, taxes, depreciation and amortization in the third quarter of 2001, and positive earnings one quarter later. In the quarter ended Sept. 30, the company reported revenue of $10.2 million and a net loss, excluding amortization of goodwill, of $6.3 million, or 11 cents a share.
The single-broker First Call estimate for fourth-quarter revenue was for $12.2 million, but the company says it expects fourth-quarter revenue will range between $7 million and $8 million. MessageMedia says the revenue hit is due to a lower number of large application service provider, or ASP, software contracts and the adoption of more conservative revenue recognition policies, in itself cutting revenue by $800,000. Fourth-quarter per-share losses, which analysts had expected to amount to 13 cents, will amount to 43 cents to 44 cents, according to MessageMedia, before a one-time restructuring charge.
On Tuesday, Engage, a subsidiary of
( CMGI), reported revenue of $41 million for its fiscal first quarter that ended Oct. 31. That figure hit the target Engage set on Nov. 8, when it preannounced that revenue would fall from $66.7 million the prior quarter to between $40 million and $42 million. At the same time, Engage had said, a week after the quarter had closed, that cash earnings per share -- excluding amortization of goodwill and other intangible assets, stock compensation, in-process R&D and acquisition costs -- were expected to be a loss of "no greater than $0.25." On Tuesday, the company reported, before amortization, stock compensation, in-process research & development and restructuring costs, a loss of 26 cents a share.


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As the coronavirus began to grip the world just over a year ago, the designer Patrick Henry, known professionally as Fresh, saw it as a call to action. “I was like, ‘Damn, everyone right now is really having a rough time,’” Fresh tells Variety of those early days. “The question was ‘What can we do with our success to move in a direction to help people?’”
Going from homelessness in 2017 to becoming the founder and creative director of the Los Angeles-based luxury fashion house Richfresh, the designer is perhaps best known as the mastermind behind the Weeknd’s red suit for his “After Hours” campaign. Most recently, RichFresh created the peach-colored suit that Justin Bieber flaunts in his video for “Peaches.”
With major buzz behind them, Fresh and his brother Chase were ready to grow the brand. But as the pandemic spread, they recalibrated and began making face masks under the name Henry.
“We took the money we had to go all in and start Henry,” says Fresh, who initially churned out masks simply to keep his tailors employed. “My design theory is to create products for myself. I also just knew that most masks suck. I’m huge on aesthetics and thought, ‘What can I do that’s better than what’s out there?’ And this is it.”
In addition, the team set a benchmark to give away 1 million masks, a lofty goal it’s chipping away at by fielding requests from organizations across the country. “We’re really happy that we already gave away several hundred thousand units,” Fresh says. “We’ll get messages from food drives, hospitals and fire stations saying, ‘Hey, we can really use these.’ Say no more. If you’re telling us you need some, we’ll send you some masks.”
To bolster their goal, the team is launching a multicity giveaway tour with stops in Fresh’s native Memphis, as well as Nashville, Atlanta and Houston. The masks also have become a favorite of A-listers including Jennifer Lopez and Michael B. Jordan.
“I think it’s a testament to what my brother and I built over a period of time,” says Fresh, who also has designed special-edition masks to raise awareness for charities. To mark World Autism Month, the brand is contributing partial proceeds to The Miracle Project.
“We took something that’s a health care device and merged it with pop culture. It feels like we found a purpose and a mission.”
Pictured above: Fresh (second from right) with Gabrielle Union, Zaya Wade and Dwyane Wade in Richfresh before the Truth Awards in Los Angeles in March 2020.


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Bob Bob Ricard, best known for its “press for champagne” button, is moving to adopt a new pricing strategy tailored to weekly footfall and consumer demand. Bloomberg reports that rather than keeping prices flat across the week, Bob Bob and its soon-to-open City sister site, Bob Bob Cité, will adopt a three-tier pricing system:
- Peak (Friday night): full price.
- Mid-peak (Sunday dinner): 15 per cent off full price.
- Off-peak (Monday lunchtime): 25 per cent off full price.
In practice this means, as Bloomberg states, lobster macaroni and cheese will cost £20.50 off-peak instead of full price £26.50. While 20 grams of Russian Oscietra caviar would come down to £36 from £49.
The strategy is designed to reflect known patterns in London hospitality and restaurant culture more widely: early week nights are quiet, weekends are rammed, and midweek sits somewhere in between, and varies. The hope is also that it spreads the demand: If a customer can have the same menu with a 15 or 25 per cent discount at a different time slot, might they consider removing themselves from a waiting list on which they do nothing but wait? Some won’t, but some might, and, in theory, the strategy would mean more covers for the restaurant.
It’s a bold move from an institution clearly aware of its status, willing to compromise something of its exclusivity, as owner Leonid Shutov notes: “To stay competitive, we need to be able to serve people a fantastic lunch without charging ridiculous prices ... One of the ways of doing that is ensuring a more even occupancy throughout the week so that we are not subsidising our Monday lunch with a Saturday dinner.”
It’s not the first time Shutov has ruffled industry feathers: his wine lists included price comparisons with competitors in the restaurant’s early days, which riled many restaurateurs.
That being said, dynamic pricing might not be as novel as it may appear. The Alinea restaurant group (Alinea, Next, The Aviary, Roister in the U.S.) has been running a similar program since as early as 2011, a whole seven years ago, and has offered a hyper-detailed report on its effectiveness to boot. Meanwhile, Tock, the ticketing system now used by Alinea, has been offering London restaurants the flexibility of variable pricing with little uptake. Isaac McHale, Daniel Willis and Johnny Smith’s two restaurants were the capital’s earliest adopter of Tock, with The Clove Club the only in the capital using tickets — Luca, their second opening, uses only a reservation system. There are a handful of other London restaurants of varying price and style using the reservations.
It’s notable that regional destination restaurants in the UK — examples including The Man Behind The Curtain (Leeds), The Fat Duck (Bray), Where The Light Gets In (Stockport) and Casamia (Bristol) — have been much quicker to adopt than restaurants in the capital, possibly reflecting the difficulty of absorbing no-shows with walk-ins in less populous areas.
Soho and, recently, the City are two areas of London where competition is fierce. Shutov’s move could precipitate a new trend for restaurants across the capital — especially in increasingly challenging times — as businesses look to attract new customers and retain regulars whose pound is worth a lot less than it was just eighteen months ago.
- A Novel Approach Comes to Restaurant Pricing [Bloomberg]


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With the Government providing backing for the Bounce Back Loan Scheme, a huge volume of small businesses will now have access to cheap money, but leading business growth speaker, Dean Seddon, warns that it will take more than loans to help small businesses recover. “Customers attitudes have changed. If you are an online business, to some degree you will return to normal in time and so you need money just to get through. But for the businesses that need customers to show up, it is going to be a very challenging year ahead.”
Whilst the Government is slowly reducing the lockdown measures on society, peoples’ fear of COVID-19 hasn’t shown any signs of abating. In recent polls, the public have felt the easing is coming too soon.
“We have hundreds of thousands of small businesses – from caterers, event managers, training companies through to hair and beauty salons – all of which may be able to open in the coming weeks. But will the custom be there? It’s unlikely. We are not seeing widespread confidence from the public that they would quickly return to events and visiting businesses. It is likely the case that being ‘open for business’ may mean ‘open but not trading’.”
Dean is not alone in his concern. Thousands of businesses across social media are saying similar things, concerned that it may take six months before they return to normal.
In a recent survey, conducted by Maverrik, 39% of respondents believed their business would not get back to full operation until September, with 14% saying 2020 had been effectively written off.
The majority of the UK workforce is employed in small businesses. Whilst major retailers and brands get all the headlines, as much as 84% of the private sector workforce is employed in a SME.
“What’s worrying here is that effectively for most small businesses the Bounce Back Loan Scheme may just be funding their losses. This means in 2021, when the loan payments become due, not only do they have to be back to 2019 levels, they now have to find the money to pay down their debt.”
In the early stages of the COVID-19 outbreak, many economists believed the UK would bounce back from the pandemic by early 2021. If the economy doesn’t bounce back as expected, the Bounce Back Loan Scheme may see higher defaults and, ultimately, the Government may have only delayed the inevitable for many small businesses.
“What would be good to see from the Government would be another targeted injection of grants. It is very costly but, in the long run, will prevent unemployment rising and will speed up the pace of the recovery. If the Business Interruption Grants were given a second lease of life, this would massively change the small business landscape. I just hope Boris Johnson meant it when he said the Government would stand behind business.”
Dean believes there is still a need for bold action from central government to make sure that the virus doesn’t create a contagion of failure in the UK’s small businesses.


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VLADIVOSTOK, December 11. /TASS/. A cat sneaked into a shop at the airport in Vladivostok, Russia's Far East, eating and spoiling seafood worth some 60,000 rubles ($1,100), a shop assistant said on Thursday.
The intruder ate some vacuum-packed smoked fish and squid, he said.
The airport's press service said that the airport's safety rules allowed no cats to be kept there but the feline could have run away from one of the passengers.
"The animal was caught on CCTV sneaking into the shop when it was open. The cat was locked there after the shop's closure," the press service said.


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Providing bikes for kids in foster care!
Green Mountain Foster Bikes, the brainchild of Tim Matthewson of Little City Cycles in Vergennes, VT, is getting bikes into the hands of as many foster youth as possible. He got the idea after a foster parent came into his shop to get a bike fixed for a youth in their home.
Tim and his work partner Tanya Bashaw are rebuilding used, donated bikes and converting them into single-speed coaster bikes using new and used parts. Every part of the bike is retouched or replaced. After being rebuilt, these bikes need little-to-no maintenance, ensuring countless hours of riding fun!
Every child that gets a bike also gets a new helmet, an air pump, and oil for the chain.
They currently have 22 bicycles ready to be donated, and they are working with bike shops across the state to help as many kids as possible to get bikes of their own.


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After bringing out specialised insurance cover for the Covid-19 pandemic, the Insurance Regulatory and Development Authority of India (Irdai) is planning to come out with standardised insurance schemes for dwelling units and Covid-hit micro, small and medium enterprise (MSME) segment.
Irdai Chairman Subhash C Khuntia said two standard schemes are being worked out for MSMEs. One is for micro units and another one for small units. As of now, only 5 per cent of MSMEs are covered by insurance. India has 6.33 crore MSMEs, majority of which are micro-enterprises. “Another standard product is being worked out for dwelling units,” he said.
In India, only 0.9 per cent of the dwelling units are insured whereas in the US, it is around 90 per cent. People suffer huge economic losses when some catastrophe happens. This risk can be covered by insuring the property, as per the insurance regulator.
“Irdai is keen on a standard product for dwelling units as the same product will be sold by all the companies. It will become easier for policyholders to pick such products as they don’t have to go through voluminous policy documents to find out terms and conditions. Hopefully, more and more people will protect their homes,” Khuntia said at the CII Insurance and Pensions Summit.
According to Irdai data, insurance companies shelled out an average of Rs 96,621 per person on claims made by insured Covid-19 patients. Khuntia said that 2.38 lakh claims for coronavirus have been filed by the policyholders as of now. Of these, 1.48 lakh claims amounting to Rs 1,430 crore have been settled by the insurers.
The insurance watchdog had come out with standard health products called Arogya Sanjeevani and Covid-19 specific products — Corona Rakshak and Corona Kavach — two months ago. Under the Corona Kavach plan, around 28 lakh lives have been covered since its launch on July 10, 2020.
“We will consider extending the tenure for Covid policies from March 2021,” Khuntia said.
Irdai said standard products are launched by the regulator to further increase penetration of insurance in India, which is just 3.76 per cent of the gross domestic products (GDP) compared to the world average of around 7 per cent. The regulator is also looking to introduce risk-based solvency for insurance companies in the next three years and allow video-based KYC process. Irdai also wants insurers to improve the persistency ratio — or continuation of policies — for the 13th month and five years.


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Business News›volkswagen virtus
Skoda Auto exports from Chakan plant crosses 600,000 units mark
Skoda Auto Volkswagen India Pvt Ltd (SAVWIPL) on Thursday said export of its cars produced at the company's Chakan facility in Pune has crossed 600,000 units mark. SAVWIPL is the Indian subsidiary of German automotive manufacturing giant Volkswagen Group.
Volkswagen introduces new variations of Virtus, Taigun
"With its strong legacy of fun-to-drive, the GT badge was introduced on the Performance Line (1.5l TSI EVO engine) variants of Taigun and Virtus. Today, we are taking a step further and democratizing the GT badge by introducing newer variants for customers to choose from," Volkswagen Passenger Cars India Brand Director Ashish Gupta said in a statement.
Maruti WagonR, Alto K10 score low safety rating in Global NCAP crash test
Maruti Suzuki WagonR, Alto K10 scored zero stars for child occupant protection as per the Global NCAP's latest round of crash tests. Maruti, however, said its vehicles meet India's crash safety regulations which are almost similar to the standards in Europe.
GNCAP crash test: Skoda Slavia and VW Virtus bags 5 stars; here's how Alto K-10 and Wagon R fared
The latest Global NCAP ratings are here and it's good news for Volkswagen and Skoda and its bad news for Maruti Suzuki, India's largest car manufacturer. The Volkswagen Virtus and Skoda Slavia bagged 5 stars in the latest crash tests while Maruti Suzuki...
Volkswagen's focus on India stronger now amid global turmoil: Thomas Schäfer, global CEO, Passenger Cars
Volkswagen plans to focus on emerging markets such as India due to tensions between America and China, which make it complicated to operate between the two markets, according to Thomas Schafer, CEO of Volkswagen Passenger Cars. The company's India 2.0 strategy, implemented in 2020, is set to expand through fresh investments, product interventions and capacity, he said.
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In a market with a predilection for SUVs, sedans look to make comebackAfter Skoda took a bet with the Slavia in the premium sedan market last year and Volkswagen with the Virtus, it is now the turn of Korean Hyundai to show its muscle with the new-gen Verna sedan. The new Verna, which is a stylised version of its previous avatars, hits the market with an entry price of Rs 10.9 lakh (ex-showroom Delhi) for the base variant, and the top-end of the car costs Rs 17.4 lakh
Hyundai plans to discontinue sales of diesel sedans in IndiaSales of diesel vehicles in the passenger car segment, which comprises hatchbacks and sedans, currently stand at 1.4% (April-February FY23), down from 11.4% in FY20, shows data from industry body Society of Indian Automobile Manufacturers (SIAM). Among peers, Maruti Suzuki, Skoda-VW, Renault-Nissan completely exited the diesel vehicle segment in the local market during the transition to BS-VI standards in April 2020. Hyundai, however, said it will continue to produce diesel variants for its SUV range.
Hyundai drives in new Verna starting at Rs 10.89 lakh; hots up competition in mid-size sedan segmentThe Hyundai Verna is a midsize sedan that competes with the likes of the Honda City, Skoda Slavia, Volkswagen Virtus, and Maruti Suzuki Ciaz in the domestic market. The 1.5 litre trims of the 6th generation Verna are priced between Rs 10.89 lakh and Rs 16.19 lakh while the 1.5 litre turbo petrol variants, which come with enhanced power, are priced between Rs 14.83 lakh and Rs 17.
Skoda Auto Volkswagen commences export of SUV Kushaq"The Skoda Kushaq is the third made-in-India car to be exported this year...the market acceptance and success of all our exports highlight our global quality standards," SAVWIPL Managing Director Piyush Arora said in a statement.
Volkswagen passenger cars India sales jump 60 pc to 4,103 units in SeptemberThe growth was driven by rising demand for Volkswagen Taigun and Virtus models, it added.
Volkswagen to hike prices by up to 2 per cent from Oct 1"Effective October 1, 2022, Volkswagen Passenger Cars India will be increasing prices by up to 2 per cent across its product portfolio owing to rising input costs," a Volkswagen Passenger Cars India spokesperson said in a statement.
Skoda Auto Volkswagen begins export of its sedan VirtusThe European carmaker commenced vehicle exports from India in 2011 with 6,256 units of the India-built Vento for the South African market. Virtus is the second product under the Group's India 2.0 project that is developed on the MQB-A0-IN platform with up to 95 per cent localisation level.
Volkswagen inaugurates all women store to promote diversity, inclusivity"At Volkswagen, we strongly believe in the development of our 'People' and who other than women are the driving force of our business...it is our endeavour to champion women talent in the automotive workforce and promote diversity, inclusivity across the organisation," Volkswagen Passenger Cars India Brand Director Ashish Gupta said.
Volkswagen sales rise two-fold in Jan-Jun"Amidst the industry challenges that are impacting the supply chain, we are witnessing a high demand for our youngest and freshest product portfolio in the Indian market," Volkswagen Passenger Cars India Brand Director Ashish Gupta said.
Volkswagen bets on new models to boost sales of midsize sedansVolkswagen, which is working at turning around its operations locally, said demand for sedans was subdued the last few years due to lack of new models. With the launch of VW Virtus and Skoda Slavia, the company expects sales in the midsize sedan segment to expand more than 50% to 140,000-150,000 units in 2022.
Mid-size sedan sales to increase in 2022: VolkswagenVolkswagen, which is working at turning around its operations locally, said demand for sedans was subdued the last few years due to lack of new models. With the launch of VW Virtus and Skoda Slavia, the company expects sales in the midsize sedan segment to expand more than 50% to 140,000-150,000 units in 2022.
Volkswagen drives in mid-sized sedan 'Virtus' tagged at Rs 11.21 lakhThe company's new offering would compete with the likes of Honda City, Maruti Ciaz, Hyundai Verna and the recently-launched Skoda Slavia in the mid-sized sedan segment. Developed on the company's MQB A0 IN platform, Virtus is manufactured at the Chakan plant in Pune and comes with up to 95 per cent localisation levels.
Volkswagen to unveil premium Virtus on June 9, sedan to come in 6 coloursThe price of the car will be announced on the launch date.
Volkswagen group crosses cumulative production of 15 lakh units in IndiaSAVWIPL Managing Director Piyush Arora said, "The production milestone is a significant achievement and a testament to the success of our products in the domestic as well as export market."
Skoda Auto Volkswagen studying small car EV for India, considering an EV factory post 2025The company expects the semi-conductor supplies to improve from the second half of 2022. Speaking to the media post 2021 earnings call, Schaefer said Skoda is on course for success outside of Europe in countries like India.
Volkswagen may introduce mass market electric model in India post 2025"If you look at how the brand is transforming globally, we in India will also have to make a transformation to the battery electric vehicles and that is what we have to start preparing for now," Volkswagen Passenger Cars India Brand Director Ashish Gupta told PTI in an interaction.Load More
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