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Naina KhedekarDec 01, 2013 17:08:36 IST
The past week saw some major announcements in the tech space. If you haven't been able to catch up with the latest happenings over the past week, then here's a quick recap.
Amazon Kindle Paperwhite price slashed, now starts at Rs 9,999
Amazon has slashed the price of its popular Kindle Paperwhite, both 3G and Wi-Fi models, by Rs 1,000. Amazon.in is currently selling the Wi-Fi version of the Kindle Paperwhite for Rs 9,999 and 3G model for Rs 12,999. The company has also slashed the prices of the older 6-inch Kindle by Rs 1000, which is now selling for Rs 4,999.
Apple's iPhone 5c and 4s exchange scheme offers big discounts for your old smartphone
Apple has launched a buyback offer for the latest iPhone 5c and the iPhone 4S in India. The company is encouraging people to exchange their iPhone 4 for an iPhone 5c/4S. The company is offering minimum Rs 13,000 cashback for the iPhone 4, and one can enjoy an even greater discount if their phone is in great condition.
The iPhone 5S promises to be the best gaming smartphone available, but not because of the hardware
Hot on Apple's trail, HTC and Nokia roll out buyback schemes for high-end smartphones
Strikingly similar to the iPhone 4s and 5c buyback scheme, HTC promises that users will be able to get a certain minimum cashback offer for upgrading to the HTC One or One mini by exchanging their older smartphones. Nokia has also launched a similar buyback scheme for its Lumia series of handsets.
Nokia Asha 502 and Asha 503 to be available in India this month
The Nokia Asha 502 Dual SIM and Asha 503–unveiled at the Nokia event in Abu Dhabi –are all set to go on sale in select markets including India. Both devices will reportedly be available through online retailers and Nokia retail outlets within a week.
Major SMS vulnerability found in Nexus phones; here’s how you can stay safe
A new SMS vulnerability found in Nexus phones can force the phone to malfunction, restart, freeze or even lose network. The issue was first pointed out by a security researcher Bogdan Alecu, who has also built an app to avoid such an attack.
Mulally and Nadella in the lead to be next Microsoft CEO: Bloomberg
Microsoft’s board has placed Ford’s CEO Alan Mulally and internal executive Satya Nadella at the top of its potential CEO list, according to a report by Bloomberg. Quoting “people familiar with the matter”, the source says that internal candidate Tony Bates and former Nokia CEO Stephen Elop are still on the list, but are considered less likely to be offered the job.
HTC's flagship One now coming to users dipped in gold
Joining the gold brigade, smartphone manufacturer HTC has unveiled a golden-coloured version of the HTC One. This time around, the device does not come from Goldgenie or as a limited MOBO edition nor crafted from real “gold”. The company has simply added a new champagne gold colour option for the HTC One, which is already available in silver, blue, black and red.
HTC One dipped in champagne gold
WD's new Black2 dual drive combines 120GB SSD+1TB HDD in 2.5-inch form factor
WD has now announced the release of the world’s first SSD+HDD dual drive – Black2. The storage option fuses a 120GB SSD with a 1TB hard disk drive in a 2.5-inch form factor.
Geeksphone announces smartphone running Android and Firefox OS together
Open source phone maker Geeksphone seems to have quite a few plans for Firefox OS. It has recently announced that it is working on a smartphone that will not only run Firefox, but also run Android.
Micromax launches 5-inch Canvas A77 Juice with 3000 mAh battery for Rs 7,999
Micromax has yet another addition to its Canvas range of smartphones. The Indian company has released the A77 Canvas Juice. Priced at Rs 7,999, the highlight of the device is its 3000 mAh battery.
Gionee's 5.5-inch Elife E7 with Snapdragon 800 coming to India in January
Gionee has announced a new flagship smartphone and successor to its Elife E6—the Elife E7. Sporting a large 5.5-inch full HD display, the E6 is a camera-centric smartphone with 16 megapixel snapper on the back and an 8 megapixel front-facing camera.
ELife E7 with 16MP camera coming to India in January
NSA reportedly spied on porn habits to discredit suspected radicals
The National Security Agency has reportedly been gathering records of online activity, specifically visits to pornographic websites, of suspected radical elements according to the Huffington Post. According to a top-secret, but now leaked, NSA document, the security agency did this as part of a proposed plan “to harm the reputation of those whom the agency believes are radicalising other through incendiary speeches.”
Voice-based 'OK Google' hotword search comes to desktop Chrome
Chrome has got an extension that will let you perform a search simply by voice commands now. The “OK Google” command will now work on Google Chrome for performing search.
Google India launches elections portal as 'one-stop destination' for all ballot news
To bring a measure of sanity in the frenzy that is the election season, Google has launched an election portal that will help voters understand the electoral process, get access to all the news related to elections and politics. Users will also get detailed information on specific political parties and get linked to the official web presence of each party.
Sony's high-end Cyber-shot RX10 launched in India for Rs 84,990
Sony has expanded its RX series of cameras in India with the new Cyber-shot RX10 aimed at DSLR enthusiasts. The camera is priced at Rs 84,990 and will be available in India from the end of this year.
YouTube acknowledges issues with comments, rolling out fixes
The massive outrage over YouTube’s new comment system has not gone unheard. YouTube has acknowledged the presence of increased spam since the new comments system integrated with Google+ came into place and has made a few updates to address the issues.
Tablets to account for 50 percent of overall PC market by 2014
Tablets shipments are estimated to reach 285 million units by next year. This means that the mobile device will account for half the total PC shipments, including that for desktops, notebooks and tablets. Tablet shipments are expected to grow to 396 million units by 2017.
Flipkart finally launches native iOS app
Indian online retailer Flipkart has finally launched a native app for iOS. It is quite similar to the Android app. The e-tailer has tried keeping the desktop experience intact with its new mobile app. The interface comes with all products under “Shop by Departments”, which comes with options like fashion & accessories, electronics & appliances, books & entertainments as well as kids & baby care.
Flipkart finally makes it to iOS
Google Play Editions of Samsung Galaxy S4 and HTC One get Android 4.4 KitKat update
Through its Android Google+ page, Google has announced that the new Android 4.4 KitKat update will be reaching Play Editions of Samsung Galaxy S4 and HTC One starting today. The 300MB update is reportedly available as an over-the-air download.
Samsung's quad-core Galaxy Grand 2 with large 5.25-inch screen coming soon
Samsung has announced a successor to its Galaxy Grand - Grand 2. The Galaxy Grand 2 is a much-improved version of the earlier phone and brings some high-end features to what is hoped will be a mid-range phone. The Galaxy Grand 2 will feature a 5.25-inch display 16:9 720p display, 1.2GHz quad-core processor, 1.5GB RAM and 8 megapixel rear camera.
Want porn on your Xbox One? There's a new app for that
If the only thing holding you back from buying an Xbox One was the lack of porn, fret not! SugarDVD has announced that it has found a way to bring its content on to the next-gen console. According to Digital Trends, SugarDVD uses Internet Explorer in Xbox One to access content, and it requires a monthly subscription. The company couldn't make a native app since Microsoft, for obvious reasons, doesn't endorse it.
Age verification barrier to follow alcohol brands
Twitter puts age verification barrier between young users and booze brands
So you want to follow your favourite alcohol brand on Twitter and have a look at its updates and probably even take part in contests it hosts. Well, Twitter will let you do all of this, but first you need to confirm to the micro-blogging website that you’re old enough to do so.
Google Glass development kit now open to all
Google has finally made the Glassware development kit (GDK) open to everyone. Essentially anyone can now download the development kit and have a go at making some apps for the much-hyped Google Glass. Before this, developers would have to somehow be on a whitelist to get access to the GDK.


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Toronto based fitness professional, Andy Hvizd, along with Made to Sweat Co. will present Sweat Together Toronto on Saturday, February 20, 2021, at 9:30am ET, featuring Toronto’s Sweat and Tonic, Cambridge Group of Clubs, 10XTO, Totum Life Science and Barry’s Bootcamp, in support of Stella’s Place and Urban Squash Toronto.
With a target of 1000 participants, Sweat Together Toronto will unite the fitness community through a curated digital fitness experience delivered by instructors from Toronto’s top local fitness clubs.
“Events like Sweat Together TO are an opportunity to highlight the success that the industry has had with regards to pivoting their services to digital delivery during the pandemic,” says Hvizd. Operators have used various platforms to bring their digital offering to their respective communities. “Many businesses have made their programming accessible to the public, which has helped Canadians continue to live active lifestyles during the pandemic.”
Participants will enjoy a 90-minute Total Body Workout! All proceeds from the event will be donated to support youth education, activity and mental wellness.
Admission Cost is $15 per person and registration is available at sweattogether.eventbrite.ca
Connect. Sweat. Support.

domain: news


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Does Tumblr have an adequate GIF set to explain why iOS users now need to reset their passwords? Why is the Australian Computer Society even looking at a cloud consumer protocol? And how will NBN Co CEO Mike Quigley's decision to leave the company impact the National Broadband Network (NBN)?
On this week's Technolatte podcast, the Australian team discusses:
The Australian Computer Society's
NBN Co CEO, and what it means for the project.
You can subscribe to Technolatte on iTunes.
Running time: 22 minutes, 17 seconds


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‘Meat Free Week’ in Australia runs from 18-24th September and the campaign, which is run by Bowel Cancer Australia, raises awareness of the risks of eating meat by challenging people to have a meat free week. The Australian Bureau of Agricultural and Resource Economics has found that the average Australian consumes 27.9kg of pork per year and around 27.9kg of beef per person every year. The World Cancer Research Fund found that the risk of bowel cancer increases by 17% per 100g of red meat consumed each day and that risk of bowel cancer increases by 18% per 50g of processed meat consumed per day. As such this week long campaign hopes to raise awareness of the risks and get people eating less meat in the long term.
Even small amounts of meat present a risk, the WHO has classified red meat (beef, veal, pork, lamb, mutton, horse, and goat) as “probably carcinogenic” to human health and stated that processed meat (salami, hot dogs, burgers) as carcinogenic in the same health risk group as cigarettes and asbestos. The following pose a risk:
- ¼ cooked hamburger = 80g
- 8 oz steak = 170g
- 1 large sausage = 40g processed meat
- 3 slices of ham = 70g processed meat
“There are plenty of non-meat options such as legumes that provide many of the same nutrients as meat and are a great alternative,” Ms McMillan said.
Bowel Cancer Australia’s Community Engagement Manager, Claire Annear added:
Image credit: Nuclear Medicine Clinic


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Lex-Informatica is proud to announce the commencement and proceeding of its 12th Annual Cyberlaw / ICT Conference to be held on the 10th and 11th December 2020. In this 12th installment of the conference and amidst the continued lockdown regulations due to the COVID-19 pandemic as well as the persistence of civil society towards an increased digital activity as the new 4IR norm, various professionals gather in the comfort of their homes and offices to tackle pressing legal and technological concerns utilizing virtual meeting. The event boasts a panel of speakers from various disciplines within the field that has come to be commonly known as Cyberlaw.
The conference is a free-to-attend event with topics covered ranging from the protection of personal information, the right to privacy in the context of COVID-19 and technology private and public use of social media, cyber forensics, big data, surveillance, as well as regional and continental perspectives on domain name adjudication, online consumer protection, artificial intelligence, online privacy and defamation, intellectual property online, cryptocurrencies and child pornography.
Considering the global focus on data protection being the right to privacy, data breaches, and the use of artificial intelligence to conduct various activities aimed at defeating cybersecurity, the participation of law and tech students, as well as legal practitioners, information and compliance officers, company heads and support staff in law firms practicing in various fields, are encouraged.
The aim of the conference is therefore not only to survey the terrain of African Cyberlaws but also to engage with the solutions available to various professionals in ensuring that the cyber-related activities and existence of their companies, suppliers, and clients fall within the ambit of protection of national, regional and continental laws and legal instruments. The panel of speakers includes Cyberlaw / ICT Experts such as Judge Dr. Mohamed Chawki, Sizwe Lindelo Snail, Ms. Sophie Kwasny, Advocate Zanyiwe Asare, Ms. Melody Musoni, Neruska Bowan, Dr. Sebo Tladi, Dr. Enrico Colendro, Ms. Pria Chetty, Dr. Lee Swales, and Ms. Nomalanga Mashinini.
For more information and details:
- Sizwe Lindelo Snail ka Mtuze - [email protected]
- Asanda Snail - [email protected]
- Judge Dr Mahomed Chawki - [email protected]
- Tefo Mohapi - [email protected]


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The Dark Brotherhood Set To Darken The World Of Cyrodiil In The Elder Scrolls Online: Tamriel Unlimited
Arguably one of the most iconic elements of The Elder Scrolls franchise and easily one of the most anticipated updates for The Elder Scrolls Online: Tamriel Unlimited, the infamous story of The Dark Brotherhood. Developers Zenimax Online Studios today offers players their first opportunity to glimpse at the upcoming release of a brand new DLC pack for the Elder Scrolls MMO, showcasing the murderous intentions of The Dark Brotherhood.
The Elder Scrolls Online
Details surrounding the official release date and pricing of The Dark Brotherhood premium DLC pack will be announced in coming weeks.


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Fears of a recession are intensifying, and the murmurs coming from Wall Street to the White House are becoming too strong to ignore.
President Joe Biden recently said a recession is “not inevitable,” though private equity firms and a good portion of Americans beg to differ.
Consumer confidence has declined and prices and market sentiment have reflected this decline. The S&P 500 index plunged to its worst performance in the first half of the year since 1970 as a result of a number of factors including price increases and the Fed’s interest rate hikes.
Economists at Goldman Sachs Group Inc (NYSE:GS) estimate a 30% chance of a U.S. recession in the following year.
But, for many people it already feels like it has arrived; according to a CivicScience poll conducted in May, 44% of Americans think the country is already in a recession.
For additional data, in the spring and summer of 2022, a slew of tech and fintech companies are preparing for recession via layoffs. These companies are letting go of sizable portions of workforces, anywhere from 0.27%, to 85% of staff.
According to data from the Bureau of Labor Statistics, CNBC wrote that the manufacturing and construction industries saw significant declines in employment during the Great Recession, which ran from 2007 to 2009.
This is sector rotation as part of the economic cycle. The cycle can be simply defined as when the economy moves from a growth stage to a recession and back to growth.
For the Americans that have already been laid off or sense that layoffs are on their way; they’re left to ask themselves — what jobs will be in demand during a recession?
- Health Care
- Consumer Staples
Some sectors will outperform when the economy is in a recession, as noted above. These sectors can also benefit from being considered essential industries during a public health emergency such as the COVID-19 pandemic.
Some of the entry-level positions in these sectors include:
- Medical Records Processor
- Medical Billing
- Medical Receptionist
- Restaurant Team Member
- TSA Customer Service Rep.
- Customer Success Manager
- Quality Manager
- Associate Cell Tower Tech
- Corrosion Technician
- General Laborer
Whether there is a recession or not, Americans still require access to utilities, food, health care and other basic services. Although the aforementioned industries are less susceptible to changes in interest rates, they would probably increase retail prices to cover rising manufacturing costs and unanticipated supply chain disruptions.
Photo: Mark Umbrella via Shutterstock


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Vrbo, Expedia Group’s alternative accommodations brand, was
the lead contributor to the company’s improving booking trends in June.
According to Expedia, booking trends were starting to
improve last month after “a period of unprecedented declines” caused by the
In a Monday filing with the Securities and Exchange
Expedia said declines in gross lodging bookings moderated to around 45% in
June, compared to a decline of 85% in the second half of March and April.
Additionally, Expedia said cancellation rates -- which remain higher than
pre-pandemic levels -- moderated and remained stable through June.
Expedia attributed much of the positive booking trends to
“Vrbo’s gross bookings, excluding cancellations, increased
significantly year over year in May and June due to its strong inventory
position in whole-home alternative accommodations to drive-to destinations,
which has been one of the first segments of travel to recover,” Expedia said.
The company also warned that despite the positive news,
there are still risks going forward that could impact travel. That includes
further travel restrictions if the number of Covid-19 cases reaccelerates.


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The Ontario Securities Commission (OSC) has given its blessing to an initial coin offering set to launch at the start of next month.
In a decision posted online Oct. 23, the OSC approved the token sale organized by TokenFunder, which is developing a platform for projects aiming to raise funds through coin sales of their own. The company is aiming to raise roughly $10 million, with the sale set to commence on Nov. 1.
Though not the first ICO in Canada to receive the blessing of a regulator, it is the first for the province of Ontario. It’s also one that comes months after the OSC issued a public statement on the blockchain use case, declaring that that some offerings would trigger the agency’s oversight.
In a statement to CoinDesk, the agency struck an optimistic tone about the approval, remarking:
“It is important that we continue to foster innovative new ways to raise capital and invest, and this announcement is a testament to the dedicated support we are providing in this space.”
As part of the legal framework surrounding the campaign, TokenFunder will be treating its coin offering as a security. Similarly, the token management platform the company will launch will be classifying future offerings as securities.
TokenFunder follows Quebec-based Impak Finance as one of the first companies in Canada to launch an ICO under the oversight of a provincial regulator.


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National Bank of Kuwait (NBK) has extended its strategic partnership agreement with global digital payments leader, Visa for additional 7 years in order to enhance its ability to meet customers’ needs.
This comes as part of the bank’s endeavors to tie up with leading institutions across all sectors, which further enhances its capability to match up to the customers’ needs and expectations.
On this occasion, NBK announced that NBK KWT Visa Infinite Credit Cardholders can get 10 percent additional NBK KWT Points when using the card during FIFA World Cup Qatar 2022.
In the context of NBK’s partnership with Visa, the bank launched NBK KWT Visa Infinite Credit Card at the beginning of the year, with an exceptional package of rewards tailored to customers’ various needs and lifestyles.
The uniquely designed card, for the first time in Kuwait, can be activated through NBK Mobile Banking App, simply by tapping the card on the smartphone. It also gives customers the flexibility to choose the way they want to earn points based on their lifestyle, either the “Spends Tier” or “Merchant Category” option.
“We are delighted to renew our long-standing partnership with the National Bank of Kuwait. Over the years, we have closely worked together to develop several exclusive, tailored, and rewarding digital payment solutions that deliver seamless, and secure experiences to cardholders on their daily, retail, leisure and travel spends. As we renew our partnership for another seven-year term, we remain committed to growing digital commerce, bringing more innovative products to Kuwait, and delivering customer-centric solutions to benefit consumers and businesses in the country.”
Commenting on this, Mr. Salah Y. Al-Fulaij, Chief Executive Officer of NBK – Kuwait said that, “We are pleased to extend our partnership agreement with Visa, with whom we have a long-standing strategic relationship.”
“Over long years of cooperation, our partnership with Visa yielded a variety of impeccable banking products and campaigns that helped meet the needs of our customers from all segments, and saw remarkable interest from customers who relied on them in their daily life. Thanks to the rewards they offer, in addition to the related campaigns jointly launched with Visa, NBK Visa Credit Cards have become a key part of our endeavors to offer our customers an integrated and inclusive banking experience,” Mr. Al-Fulaij added.


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When the city's Board of Health ruled last fall that chain restaurants in NYC have to put an ominous salt icon next to menu items with exceptionally high sodium content, it was promptly hit with a lawsuit from the National Restaurant Association, which argued that the city was unfairly targeted chains. But a Manhattan State Supreme Court Justice Eileen Rakower ruled today that the city can go ahead and enforce the warning requirement, chains' complaints be damned.
“Some people just love salty foods, and they’re going to go ahead and eat those foods regardless of whether they have a salt icon next to them,” Rakower said today. “It’s not a ban. It’s information. It’s a warning.”
The CDC doesn't recommend consuming more than 2,300 milligrams of sodium per day—about a single teaspoon—but the average American consumes up to 1,000 milligrams more than that, and that's certainly not helped by the sodium content of many items at chain restaurants. Sodium content on fast food menus regularly tops 1,500 milligrams, and many items pack a single day's recommended sodium limit into one meal. A twelve-inch turkey, ranch, and swiss sub at Quizno's packs 2,950 milligrams of sodium, while an Italian Combo Sandwich at Panera has 2,850 milligrams, and a salt bagel at Dunkin Donuts has an astounding 3,380 milligrams (though you probably could have guessed as much from the name).
The Health Department’s ruling requires chain restaurants to indicate whenever a menu item exceeds the CDC’s recommended limit of 2,300, but plenty of chains just skirt the minimum that would require them to post a salt shaker graphic next to such items—at Taco Bell, for instance, a host of items are listed at 2,260 milligrams, and McDonald's has a number of foods well into the 2,000 range. According to health officials, the salt warning would apply to about 10 percent of menu items at city chains.
In its lawsuit filed in December, the National Restaurant Association argued that the warning would "confuse and mislead consumers into potentially making less healthy food choices," and accused the city of trying to "circumvent the legislative process." But history wasn't in the chains' favor: New York has led the nation on requiring menu calorie counts and banning trans fats, and will now be the first city to require salt warnings.
For the National Restaurant Association, however, it's not a done deal: a spokesperson said that "we will be exploring all of our legal options moving forward," calling the ruling an "arbitrary, onerous, and costly mandate."
As the New York Times notes, some chains, such as Subway, T.G.I. Friday’s, and Applebee’s, have already begun complying with the sodium-warning rule. Following the judge's ruling today, chains will have just six days to get their act together and post warnings on their menu, or face a fine. That fine was initially posted at $200, but appears to have since gone up to $600. We reached out to the Department of Health for confirmation, and will update when we hear back.


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Recently, an infographic titled “What happens one hour after drinking a can of Coke” went viral. Created by Niraj Naik of The Renegade Pharmacist website — and based on a 2010 post published at wellness site Bliss Tree — it made the rounds online, appearing in reputable news sources such as The London Telegraph, the Daily Mail, The International Business Times and Medical News Today. A Huffington Post U.K. article on it received 70,040 Facebook shares.
But the infographic makes some scientifically inaccurate statements. It also ignores the larger problem of the long-term health effects of sugar-sweetened beverage consumption, and doesn’t address other public health concerns that relate to the soda industry.
Its first claim is that within 10 minutes of drinking Coca-Cola, when 10 teaspoons of sugar hit your system, “You don’t vomit from the overwhelming sweetness … because phosphoric acid cuts the flavor, allowing you to keep it down.”
A Dunkin’ Donuts chocolate chip muffin delivers 50 grams (over 12 teaspoons) of sugar and phosphoric acid is nowhere to be found on the ingredient list. By the infographic’s logic, our bodies would reject the muffin before we were done eating it in its entirety, which is not the case.
Its second claim is that within 20 minutes, “Your blood sugar spikes, causing an insulin burst. Your liver responds to this by turning any sugar it can get its hands on into fat.”
It is correct that the higher our blood glucose, the more insulin our pancreas secretes. But insulin also signals our cells to absorb as much glucose as possible — for energy or storage — in order to lower the amount left in the bloodstream. Type 2 diabetes develops because cells can no longer efficiently absorb glucose in the blood, thereby leaving substantial amounts floating around. In healthy individuals, any remaining glucose is sent to the liver and stored as glycogen. When glycogen stores are full, the liver converts additional calories from carbohydrates (i.e., the calories in soda) into fat. While consistently high and frequent intakes of sugary foods and beverages can contribute to that development, one can of soda will not.
Its third claim is that within 40 minutes, “Caffeine absorption is complete. Your pupils dilate; your blood pressure rises; as a response, your liver dumps more sugar into your bloodstream.”
While it is true that caffeine is fully absorbed 45 minutes after ingestion, the liver doesn’t dump sugar into our bloodstream as a result of blood pressure rising. It’s actually the other way around: High blood sugar levels can damage nephrons, the filtering structures in the kidneys that help regulate blood pressure.
Its fourth claim is that within 45 minutes, “Dopamine production increases. This is the same way heroin works.”
But increased dopamine production is not in itself a problem. Dopamine production also increases after we exercise; it’s the reason we feel good after a workout.
Additionally, a can of Coca-Cola only contains 34 milligrams of caffeine, a low dose that studies have shown “significantly improves auditory vigilance and visual reaction time.” Only higher doses have been shown to lead to negative effects such as anxiety and nausea.
The bigger picture
Even putting aside the inaccuracies of the infographic, the immediate bodily reaction to one can of Coca-Cola isn’t as important as the well-documented negative health effects of long-term consumption.
Although soda consumption in the U.S. is declining, the average American still drinks 44 gallons — approximately 466 cans, or 18,640 grams of sugar — each year. Long-term consumption of sugar-sweetened beverages is associated with increased risk of metabolic syndrome and Type 2 diabetes. Epidemiological research also links consistent intake of sugar-sweetened beverages to increased heart disease risk. Tellingly, a 2013 systematic review published in the Public Libraries of Science found that 83 percent of studies with no soda industry ties found a link between sugar-sweetened beverage consumption and weight gain, while 83 percent of studies with industry ties did not.
Fatalistic pearl clutching about the negative health effects of certain foods and beverages gives industry a much-desired opportunity to lump all criticism as fearmongering.
The soda industry is adept at misdirection. On Aug. 10, The New York Times reported on the Coca-Cola-funded Global Energy Balance Network, “which promotes the argument that weight-conscious Americans are overly fixated on how much they eat and drink while not paying enough attention to exercise.”
Coca-Cola’s century-long history of sponsoring sporting events diverts health criticisms using the same argument. The most recent example is London’s 2015 Rugby World Cup, where marketing efforts include branded rugby balls, free cans of soda and — of course — promotion of physical activity. Physical activity is the soda industry’s perfect distractor, because it puts the focus on calories (which can be burned off) rather than on the damaging effects of sugar.
Health advocates should also be concerned with marketing to children. Coca-Cola boasts that it doesn’t target children under 12 in its ads. (Do the company’s branded stuffed animals get a pass because they are technically not ads?) Nevertheless, Australia’s Advertising Standards Bureau recently forced the soda giant to scrap a Fanta ad campaign because its television ads and an accompanying phone app were primarily directed at children.
Also worrying is rampant Coca-Cola consumption in developing markets. In Altos de Chiapas, Mexico, Coke is more affordable and accessible than water, and the average resident drinks over two liters of it daily. The area’s “Coca-Colonization” — largely due to the soda giant’s political maneuvering — is so widespread that Coke has replaced a traditional alcoholic Mayan beverage during religious ceremonies.
The downside of hyperbole
There is a final, important lesson in this infographic for health advocates: Steer clear of hyperbolic claims. Fatalistic pearl clutching about the negative health effects of certain foods and beverages gives industry a much-desired opportunity to lump all criticism as fearmongering and not address more important issues. Criticizing the high-fructose corn syrup in soda is a losing battle for health advocates because it simply results in products such as Throwback Pepsi, made with cane sugar, or sodas sweetened with agave nectar, which are not any healthier.
After the first infographic went viral, the same blogger produced a sequel infographic that examines what happens to the body within an hour of drinking diet soda. This one mentions that “the potentially deadly combination of caffeine and aspartame creates a short addictive high similar in the way cocaine works.” Again, this is an exaggeration; there is nothing potentially lethal about the combination of caffeine and aspartame.
As for artificial sweeteners, the most valid concerns are that they may negatively affect the microorganisms in our digestive tracts, called gut flora and may increase cravings for sweet foods by affecting our neurological reward system differently than sugar or other caloric sweeteners.
There are plenty of scientifically sound reasons soda — regular or diet — is best avoided and the soda industry is damaging to public health. But let’s leave the viral memes to cute cats.


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An Austrian Bank Goes Where Sanders, AOC Want the U.S. to Tread
(Bloomberg) -- In the Austrian Alps, the kind of affordable banking that Bernie Sanders and Alexandria Ocasio-Cortez envision for the U.S. is getting a vote of confidence.
While the two Democratic lawmakers are proposing that the U.S. Postal Service restart banking services to help counter payday lending, Georg Poelzl is putting actual money behind a local banking model that dates back 136 years to the Austro-Hungarian empire.
The chief executive officer of Austria’s state-owned postal service Oesterreichische Post AG is buying a bank to replace a departing partner that’s been offering financial services at many of the country’s roughly 1,800 post offices.
“Maybe it is a ‘sunset business,’ but so is our mail business, and we earn good money there, too,” Poelzl said in an interview at his office in Vienna.
Like USPS, Austria’s postal service faces the global challenge of replacing its delivery monopoly as online shopping boosts its parcel-service competitors.
Meanwhile, it runs branches nationwide, including in rural areas in a mountainous country. For Poelzl, banking is an option to get more out of his branches in a country where 20% of brick-and-mortar banks have closed since the turn of the century.
“We’re targeting customers that are no longer served by banks that are retrenching,” he said.
While USPS stopped offering banking services more than 50 years ago, the tradition has survived with varying degrees of success outside the U.S. The Austrian postal savings bank’s former headquarters, dating from 1906, is one of Vienna’s most famous Art Nouveau buildings.
Austria’s postal service sold its banking arm in 2000 to Bawag Group AG, which is bowing out by the end of 2020. It’s spending 80 million euros ($90 million) to acquire Bruell Kallmus Bank, a specialist firm it plans to turn into a traditional bank that’ll start with products such as savings, current accounts and payment services. Poelzl said he expects to generate less revenue but more profit with the new partner.
©2019 Bloomberg L.P.


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Ingenico announced on Monday an agreement Lyudia, a Japan-based subsidiary of Broadband Tower, to offer payment services in Japan.
Ingenico and Lyudia will provide a range of payment services to the Japanese market, including software development, certification, logistics, support and maintenance.
“We are delighted to work with Broadband Tower in their new payments initiatives through our innovative and efficient payment solutions,” Ingenico EMEA Executive Vice President Jacques Behr said. “This partnership reflects our strategy to expand our position in Japan with dedicated offer that answers to retail and mobile payment business segment needs.”
Igenico will showcase its retail and mobile solutions at the Retail Tech expo in Tokyo from March 4-7.
“We are more than proud of this partnership with a global leading payment solution provider such as Ingenico,” Lyudia CEO Takane Nakamura said. “We believe our mission is to provide the Japanese market with the best and most innovative payment solutions and help merchants to keep improving the ‘user experience.’”


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Richemont Group's sales in Q3 (the three month period ended 31 December 2019) increased by 4%, with growth in all regions except Japan, the luxury goods group announced last week. The Jewellery Maisons division recorded a 6% increase year-over-year at constant exchange rates versus the prior period and 9% at actual exchange rates. Sales in Europe during the period grew by 9% to €1.26 billion ($1.40 billion) benefiting from favourable comparative numbers and strong sales in most markets. European sales for the nine months of the fiscal year have risen 8% to €3.5 billion ($3.9).
Jewelry sales during the U.S. holiday season showed a modest increased compared to 2018, with higher-end independent jewelers performing particularly well, according to several surveys. Online buying surged, while foot traffic in retail stores slowed. The Mastercard SpendingPulse report shows that the jewelry sector experienced 1.8 percent growth in total retail sales, with online sales growing 8.8 percent – supporting eCommerce strength.
Chow Tai Fook, Hong Kong's leading diamond-jewelry retailer and the second largest jeweler in the world by market value after Tiffany & Co., intends to about 15 of its 86 stores in Hong Kong as anti-China protests in the city weigh on the retail market and deter tourists, according to multiple media outlets. Indications that it rather intends to focus on growing its presence in the mainland China market suggests the slump in retail sales is not about the reverse soon.
The Titan Company announced in its Q3 FY ’20 update that jewelry sales in December were were better than expected despite “the general economic slowdown in the economy leading to poor consumer sentimenthit." The company said its revenue growth was "possibly due to a good wedding season" and that the jewelry industry as a whole witnessed “reasonable growth” in the festive Diwali season this year. The company itself did better, the statement reads, while also gaining market share.
Retail sales in Hong Kong in general, and sales of luxury items and jewelry in particular, continued to fall sharply in November as local social unrest turned extremely violent, causing very severe disruptions to tourism- and consumption-related activities and further dampening consumption sentiment, writes the Census and Statistics Department of the Hong Kong Special Administrative Region.
Tiffany & Co. announced on Thursday Dec. 26 that its overall global sales during the holiday shopping season (from November 1 through Christmas Eve) rose about 1% to 3% compared with the same period last year, with the largest contribution coming from China, Europe and a recovery in the Americas. Mainland China drove the business during the holiday period, with Tiffany seeing a double-digit sales increase there, offset by declines in Hong Kong.
Forevermark, the diamond brand from De Beers Group, today announced it will launch in five jewelry stores in Belgium through a partnership with Gautam Diamonds. Forevermark jewelry will be available in Gautam stores in the historic Grand Place/Grote Markt and Galerie de la Reine/Koninginnegalerij in the city, as well as in three Antwerp Diamonds by Gautam stores in Brussels Airport.
Luxury jeweler Tiffany & Co fell short of investor expectations for profit and sales during the third quarter ended Oct. 31 2019, as weak demand in the U.S. and retail disruption in Hong Kong offset growth elsewhere in China. Tiffany's business in the Americas and Europe has struggled to generate growth in recent years as price-conscious younger customers gravitate to lower-priced competitors like Signet Jewelers - which last week released “better-than-expected” results for the third quarter of fiscal year 2020.
Barely a week after Jeweller Magazine reported Michael Hill (MHI), the jewelry retailer operating 312 stores in Australia, New Zealand, Canada as well as selling jewelry online, made misleading claims in its marketing by describing their lab-grown diamonds using terms as “real”, “genuine” and “authentic”, the company has changed its messaging.
According to several reports, LVMH's raised offer of 16.7 billion US dollar - from the 14.5 billion offered and declined earlier - might be convincing enough to persuade TIffany's and the deal could be concluded fast, insiders say. If so, Tiffany's would be joining LVMH's portfolio, which includes Bvlgari, Louis Vuitton and Dior and put the luxury conglomerate in a more interesting position to compete with rivals, such as the Swiss-based Richemont.
A significant decline in Swiss watch exports to Hong Kong in October put a dent in the otherwise positive month, as several of the leading markets recorded strong growth. According to figures from the Federation of the Swiss Watch Industry, Swiss watch exports passed the 2 billion francs (CHF2.03 billion/USD$2.04 billion) representing 1.5% growth compared to the same month last year.
Christie's Geneva Magnificent Jewels sale taking place tomorrow (Nov. 12) features a stunning collection of colored and colorless diamonds, led by a 7.03-carat, Fancy deep blue rectangular-cut diamond by London high jewelry house, Moussaieff. The VVS2 blue stone carries an estimate of $10,000,000 - $14,000,000.
Tiffany & Co. has asked luxury conglomerate LVMH to raise its $14.5 billion acquisition offer, arguing that it significantly undervalues the U.S. jewelry chain, Reuters reports, citing unnamed sources. Last week, it became known that LVMH Moët Hennessy Louis Vuitton is seeking to add the iconic U.S. jeweler to its portfolio of upscale brands.
The 4th International Jewelry & Diamond Conference 2019 – Guangzhou, jointly held by the Guangzhou Diamond Exchange and the Guangdong Gems & Jade Exchange (GDGJE) will take place on November 21-22. The conference will be held in Panyu, Guangzhou, the major cluster of the diamond and jewelry industry of China, and will welcome industry representatives, associations from around the world and delegates from local governments.
Tiffany & Co. has received a takeover approach from LVMH Moët Hennessy Louis Vuitton, which is seeking to add the iconic U.S. jeweler to its portfolio of upscale brands. The French company sent Tiffany officials a letter in the past couple of weeks outlining an all-cash takeover bid of about $120 a share, according to people familiar with the matter. That would value Tiffany at close to $14.5 billion, and represents a 22% premium over the stock’s closing price on Friday, according to the Financial Times.
Beginning this month, De Beers' lab-grown diamond brand Lightbox Jewelry will be available at two select Bloomingdale’s department stores (one in N.Y., one in San Francisco) and 30 Reeds Jewelers stores in a trial run to see whether their product and value proposal perform in traditional bricks-and-mortar retail environments, reports Forbes magazine. Until now, the only way to purchase Lightbox fashion jewelry was through its website or through an occasional pop-up promotion.
A 10.64-carat Fancy Vivid Purplish Pink diamond sold for US$19.9 million (155,831,000 HKD) earlier this week at Sotheby's Hong Kong auction. That's $1.9 million per carat.
The 10.65-carat, Internally Flawless Type IIa pink fell between its $19.1 to $25.5 million (150 million to 200 million HKD) pre-sale estimate. It is set between trapeze diamonds, mounted in 18 karat white and pink gold. The Magnificent Jewels and Jadeite sale totaled $300.8 million HKD, or $38.3 million.
The eldest daughter of the Duke and Duchess of York - Prince Andrew and Sarah Ferguson - granddaughter of Queen Elizabeth II and latest newsworthy royal millennial, Princess Beatrice of York, became engaged earlier this month to Edoardo Mapelli Mozzi. Mozzi enlisted contemporary British jewelry designer Shaun Leane to create the princess’ diamond and platinum engagement ring.
Richemont luxury group has acquired 100% of Buccellati Holding Italia S.p.A., the owner of renowned Italian jewelry Maison Buccellati, in a private transaction with Gangtai Group Corporation Ltd, a privately held conglomerate. The price of the acquisition is undisclosed. With the takeover, the luxury conglomerate adds to its brand portfolio that includes Cartier, Van Cleef & Arpels, Piaget, Montblanc, Vacheron Constantin, Jaeger-LeCoultre and Baume & Mercier.
Forevermark, the diamond brand from the De Beers Group, has launched its latest consumer campaign, #TrustForevermark, in India, aiming to help prospective buyers allay their doubts, fears and questions that arise when buying diamonds, according to a Forevermark press release. Forevermark is rolling out a multi-media campaign including events, PR, digital, print, television, radio, outdoor and social media content. The #TrustForevermark campaign the brand's largest yet in India and will be rolled out nationally over the next three months targeting nine Tier I and 41 Tier II cities.
The Plumb Club - one of the jewelry, diamond and watch industries' leading supplier organizations - today announced that its members have voted to require all new and existing Plumb Club members to become Certified Members of the Responsible Jewellery Council (RJC). The Plumb Club, a current RJC association member, is the first organization of its kind to require its members to follow the RJC Code of Practices.
Sales of jewelry at dedicated jewelry stores in the U.S. fell by nearly 5% (-4.6%) to $14.4 billion from $15.1 billion in the first half of 2019, according to figures from the US Census Bureau (see link). In June, the decline was the sharpest of the year, falling 10.5% to $2.31 billion from $2.58 billion in the same month a year ago. This would indicate a downturn in consumer confidence, although provisional figures from July show a 1.3% increase July 2018, at $2.41 billion.
The Women's Jewelry Association (WJA) has appointed a new executive director, Jennifer Markas, who begins work Sept. 10. Bernadette Mack, the outgoing executive director, will work with Markas during her transition until the end of the month.
Rare and exceptional fancy color diamonds, as well as a large flawless emerald diamond will be in the spotlight at this autumn’s Magnificent Jewels and Jadeite auction at Sotheby's Hong Kong. The October 7 sale presents three very remarkable stones: a superb 10.64-carat fancy vivid purplish-pink diamond of internally flawless clarity estimated at $19.1 million to $25.5 million, an important 6.01-carat fancy vivid blue diamond, and a magnificent 80.88-carat D-color, flawless diamond.
Signet Jewelers' sales for the second quarter of fiscal 2020 (ended Aug. 3) fell but did not decline as much as expected, and investors took notice. The company's stock, declining hard and fast since 2015 - and down over 60% year-to-date in 2019 - jumped by roughly 25% on the news and have held its gains. The world’s largest jewelry retailer announced reported that total sales fell 3.9% to $1.34 billion in Q2 and that comps for same-store-sales fell 1.5%, outpacing the forecasted 2–3% drop.
Tiffany & Co. earlier this month announced plans to enter the India market, and recently said they would be increasing their presence in China following a quarter in which they saw double-digit growth with local customers in Mainland China, together with a decline in tourist purchases which impacted their Q2 results.
Tiffany & Co. reported a decline in sales in the Americas and globally in the second quarter, with the company pointing to weak spending among tourists and locals in the Americas and Asia Pacific spurred by unrest in Hong Kong. Net sales in the second quarter tailed off by 3% to $1.05 billion in the three months ended July 31, in part due to a strong performance in the same quarter a year ago when they earned $1.08 billion. Worldwide same-stores sales were down 4 percent, the jeweler announced, while net income of $136.3m in the second quarter was down 6% from a year ago.
Signet Jewelers Limited claims to be the world's largest retailer of diamond jewelry and is clearly the largest specialty retail jeweler in the US, UK and Canada. It operates over 3,300 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com. Just over a year ago the company was among the S&P 500, but its share price and market cap have fallen hard.
President Donald Trump said Thursday that the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods, effective Sept. 1. This means that starting at the beginning of next month, every single good coming into the U.S. from China, except those with exemptions, will be subject to an import tax. Called the 'tranche four' tariffs, the list includes rough and polished diamonds (whether or not worked), loose 'synthetic ...
Chow Tai Fook Jewellery Group (CTF) has reported higher sales and continuing expansion of their POS (points of sale) during Q1 FY 2020 (three months ended 30 June 2019), as sales in mainland China stores continued to grow at a strong rate while those in Hong Kong and Macau declined for the second time in the past three quarters. Retail sales grew by 24% in mainland China during the period, with same-store sales (SSS) improving by 11%, the jeweler reported. Retail revenues in Hong Kong and Macau fell by 6%, while SSS dropped further, down 11%.
Russian diamond-mining giant Alrosa increased its rough-diamond output in Q2 and H1 2019, but the miner's sales have fallen to a low not seen since Alrosa started publishing monthly results in 2016 as rough and polished diamond market saw weak activity and very poor demand. Alrosa pointed to changing retail practices such as consolidation and increasing online sales as reasons for a reduction in polished diamond stocks across the retail sector. As businesses embrace more efficient stock management practices, cutters and polishers reduce the volumes of their rough diamond purchases.
Australian jewelry chain Michael Hill says it underpaid staff by as much as A$25 million (US$17.45 million) over the past six years, and will pay out a sum in the range of A$10-25 million (US$7-17.5 million) to redress its error. The Brisbane-based chain is the latest in a string of organisations to admit to staff underpayments, and will face questions from the Fair Work Ombudsman (FWO), writes the Australian Broadcasting Corporation (ABC). The jeweler discovered the discrepancy on its own but did not inform the FWO about it.
To the chagrin of the gem & jewelry industry in the county, the Indian government last Friday (July 5) announced it would increase the import duty on gold and precious metals to 12.5% from current level of 10%. The move will raise the price of gold, silver and other precious metals on the domestic market, with concerns that smuggling may rise and tourists may seek to purchase their gold elsewhere. India is one of the largest gold importers in the world, arising mainly from demand from the jewelry sector. India imported gold worth $32.8 billion during 2018-19.
Retailers and importers across the US - including those in the diamond and jewelry trade - breathed a collective sigh of relief this past weekend following the announcement of a temporary trade truce between the US and China, and an agreement to reopen negotiations. This past weekend at the Group of 20 summit in Osaka, Japan, U.S. President Trump and President Xi Jinping of China agreed to a ceasefire that will forestall another punishing round of of $300 billion in tariffs Mr.
Christie's Maharajas & Mughal Magnificence collection earned a total of $109,271,875 in New York, representing the highest amount taken in by any auction of Indian art and Mughal objects, and the second highest for a private jewelry collection - falling just short of the 2011 auction of Elizabeth Taylor’s jewelry, good for a nearly $116 million haul. Almost 400 lots were offered, ranging from legendary Golconda diamonds to dazzling coloured stones, jeweled objects used in the royal courts to swords and daggers once owned by Indian rulers.
Christie's will hold the landmark Maharajas & Mughal Magnificence sale this week Wednesday (June 19) in New York, and it is slated to be perhaps the highest earning jewelry sale in the auction house's history.
Hong Kong based jewelry retail and bellwether for the Chinese market Chow Tai Fook Group (CTF) has announced that its sales grew 13% to $8.5 billion (HK$66,661 million) for the year ending March 31 (FY2019), citing increased purchases of gold jewelry and an expansion of the company’s retail network in China. Retail sales in Mainland China rose by 8% to $3.88 billion, while revenue from Hong Kong and Macau increased 12% to $2.94 billion.
Signet Jewelers reported a decline in revenue during the first quarter of fiscal 2020 (ended May 4), as sales fell at all their banner stores except for Piercing Pagoda - the ear piercing and gold and sterling silver shop with roughly 780 kiosks in shopping malls across the United States and Puerto Rico - which gained 13.5%. Ecommerce sales also increased 5.3% year over year to $154.3 million.
Swarovski, famous for its glass and zirconia crystals and recognized as one of the world's leading jewelry and accessory brands, has announced its plans to enter into the diamond jewelry category. Avi Krawitz of Rapaport News gathered the scoop from Nadja Swarovski, head of corporate communications and design services, who made the announcement during a panel discussion at JCK Las Vegas last week.
Leading jewelry industry magazine JCK held two jewelry design competitions at this year's Las Vegas show: the annual Luxury Design Awards and JCK Design Center Editor’s Choice Awards (click "Read the full article" to see the designs).
Tiffany & Co. reported a modest decline in global sales in the first quarter, impacted by unfavorable foreign exchange rates and 'dramatically' lower worldlwide tourist spending, which was mitigated by strong local sales. The famous jeweler announced that in the first quarter, worldwide net sales declined 3% to $1.0 billion, down from $1.03 billion in Q1 2018, and comparable sales declined 5%; on a constant-exchange-rate basis, however, net sales were equal to the prior year and comparable sales declined 2%.
An annual tradition, industry veterans Chaim Even-Zohar and Pranay Narvekar present the 2018 iteration of The Tacy Diamond Pipeline, with an in-depth look at the impact that the rise and acceptance of laboratory-grown diamonds has had on the industry this past year.
An extremely rare, 3.43-carat internally flawless cushion cut diamond referred to as the 'Bubble Gum Pink' has sold for an impressive $7.5 million at Christie’s Hong Kong auction, or $2.2 million per carat. The ‘Superb Colored’ gem was the premier lot sold during the Magnificent Jewels event held by the famed auction house, which fetched a total of $44.6 million.The stone is mounted onto a ring designed by luxury London jewellers Moussaieff, alongside other pink diamonds and marquise shaped white diamonds.
Luxury group Richemont, owner of the Cartier and Van Cleef & Arpels jewelry brands, recorded a 10% rise in jewelry and watch sales for the year ended 31 March 2019. Jewelry sales saw progression in all regions and in all channels, with double digit increases in Asia Pacific - particularly in China - and the Americas, while watch sales increased in most regions with double-digit growth in retail, reflecting strong client demand. Jewelry and watches represent Richemont's two largest product lines at 36% and 35% of group sales, respectively.
The list of Chinese products to be hit by 25 percent tariffs imposed by the U.S. government at the behest of President Donald Trump is expansive and is potentially about to cover the entirety of consumer products from China, including a broad swath of jewelry products, as the trade war escalates rapidly. On May 9, the U.S.
The Antwerp World Diamond Centre (AWDC), the coordinating federation for the Antwerp diamond industry, is joining forces with Ars Nobilis, the umbrella organization for the Belgian jewelry sector, in an effort to streamline the Antwerp diamond trade with jewelry manufacturers and retailers in Belgium. The two representative bodies yesterday signed a memorandum of understanding stating that the members of Ars Nobilis will be able to call upon the services of the AWDC regarding legal advice, training, public relations and communication, advocacy and security.
Leading Hong Kong jeweler Chow Tai Fook is expanding in North America, this week announcing the establishment of a "business hub" in Boston to supply products and services - jewelry and technology - on a wholesale basis to US retailers. Chow Tai Fook North America (CTFNA) says it "will offer customized, specialty collections in the diamond and fine jewelry segments, as well as private label offerings, to address the evolving needs of jewelry consumers." CTFNA, which owns diamond jewelry brands Hearts on Fire and Mémoire, recently moved Hearts On Fire President Caryl Capeci into the role of
Jewelry maker Pandora, known for its charm bracelets, intends to make another 1,200 workers in Thailand redundant while speeding up its marketing spend as its new CEO looks to turn around the struggling jewelry maker after another disappointing quarter. The company already laid off 700 of their nearly 14,000 employees in Thailand, which is almost half of its 32,000 global workforce.
Global demand for gold jewelry rose 1% in Q1 2019 to 530.3 tonnes, driven by the Indian market, writes World Gold Council (WGC). A lower local rupee gold price in late February and early March coincided with the wedding season, which is the traditional time for significant gold purchases, lifting jewelry demand in India 5% higher than the same period last year. The 125.4 tonnes purchased makes last Q1 2019 the highest Q1 since 2015.
As of yesterday, May 1, Signet Jewelers' e-tailer James Allen will offer laboratory-created diamonds, becoming the first Signet-owned entity to do so, reports Rob Bates of JCK. "This is a test," says Oded Edelman, president of the James Allen site, which was Signet Jewelers purchased in 2017. "If consumers adopt it, then maybe it’s a sign for the rest of Signet to adopt it as well. We’ll wait and see how it goes.”
A spectacular and comprehensive trove of nearly 400 diamonds, colored stones and the finest jeweled objects from the Mughal Empire (1526-1857) to the present day, with provenance including the royal and noble families of India, will be offered in a landmark auction this June at Christie's in New York. Christie’s anticipates the Maharajas & Mughal Magnificence jewelry auction could rank as one of its most high-profile and high-value jewelry auctions ever, featuring some incredible dia
The Responsible Jewellery Council (RJC) today launched its new Code of Practices (COP). The COP defines responsible, social and environmental business practices for companies in the jewellery supply chain and commits members to adhere to a robust set of comprehensive auditable standards. This marks the third iteration of the COP since the RJC formed in 2005, and reflects the evolving needs of the industry and demands of consumers globally.
De Beers Group announced last week that Nancy Liu will become the new Forevermark CEO, stepping up from her current role as COO and taking over the day to day responsibility for the leading diamond brand. Stephen Lussier, Executive Vice-President of Consumer & Brands for De Beers Group, will continue to oversee the strategic role Forevermark plays within the Group’s brand portfolio as Forevermark Chairman. Lussier has been the brand’s CEO since 2009.
Earlier this year in a cost-cutting move, Signet Jewelers, which claims to be "the world's largest retailer of diamond jewelry," asked its employees in Akron, Ohio and Dallas, Texas to apply for a "Voluntary Transition Program" out of the company. “Based on participation," the company wrote, "we may need to take additional actions including an involuntary reduction-in-force.” The message wasclear enough: take the buyout or risk being fired without one. Not enough people took the severance package and assistance in finding a new job voluntarily, and the firings have arrived.
A twin-stone colored diamond ring featuring fancy vivid blue pear-modifiedbrilliant-cut diamonds of 3.06 and 2.61 carats was the headline item at Christie’s New York Magnificent Jewels auction on 16 April, selling for $6.7 million, or $1.2 million per carat. The hammer price fell right within its $6-$8 million pre-sale estimate.
Several diamond and jewelry industry sites are reporting that the U.S. State Department may be prepraring to strengthen and enforce disclosure requirements for all materials used in jewelry. State Department representaitives met with a coalition of industry leaders in New York to explain the new potential regulations. According to Rob Bates at JCK, "The United States believes that jewelry materials and other minerals are funding conflict and rogue regimes, specifically mentioning Iran, Venezuela, and certain countries in Africa, said attendees.
The Watches & Jewelry business group of LVMH Moët Hennessy Louis Vuitton recorded revenue growth in the first quarter of 2019, driven by the performance of its jewelry, though the group lagged behind other product categories. Bvlgari is said to have "made strong progress" in its own stores.
Signet Jewelers, North America's largest retail chain for diamond jewelry, endured an uninspiring fourth quarter as weak holiday sales weighed down revenues, sending the jewelry group to a combined 6% loss in Q4 and a 0.1% loss on Fiscal Year 2019. Signet's total Q4 sales (in the 13 weeks ended February 2, 2019) were $2.15 billion, down $138.4 million or 6.0% on a reported basis and 5.4% on a constant currency basis.
The Antwerp World Diamond Centre (AWDC), the umbrella organization of the Antwerp diamond industry, participated from 24 to 28 March in the Belgian State Visit to South Korea, where they co-organized an event to highlight a new partnership between Antwerp and Korea's leading jewelery brand, Golden dew. During the State Visit, and in honor of the jeweler's 30th anniversary, Golden dew launched three special cuts it developed together with three different Antwerp diamond companies.


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Google's Work In Digital Ad Tech Sector Under Investigation By EUThe European Union accused Google of stifling competition in digital advertising technology and regulators there announced they launched a fresh antitrust investigation tech giant Tuesday.
Facebook Loses Court Fight Over Halting European Union - US Data TransfersFacebook lost a legal battle Friday with Ireland's data privacy watchdog over a European Union privacy decision that could result in the social network being forced to stop transferring data to the U.S.
EU Accuses Apple Of Antitrust Breach Amid Spotify ComplaintEuropean Union regulators accused Cupertino-based Apple on Friday of violating the bloc's antitrust laws, alleging the iPhone maker distorts competition for music streaming.
Google's Fitbit Takeover Prompts EU Antitrust InvestigationGoogle's acquisition of fitness tracking company Fitbit hit a new snag on Tuesday.
Slack Files Antitrust Complaint Against Microsoft In EuropeSlack is ratcheting up its battle with Microsoft, filing an antitrust complaint in the European Union against its rival.
Netflix Slows Down In Europe Amid Concerns About Straining Internet During Coronavirus CrisisNetflix will reduce streaming quality in Europe for at least the next month to prevent the internet collapsing under the strain of unprecedented usage due to the coronavirus pandemic.
France Fines Apple $1.2 Billion For Anti-Competitive ActsFrench regulators fined Apple 1.1 billion euros ($1.2 billion) on Monday for striking deals to keep prices high.
Mark Zuckerberg Heads To Europe, Asks For More RegulationMark Zuckerberg has asked for more regulation of Big Tech companies. Europe is preparing to give him what he wants.
Top European Court Orders Facebook To Take Down Post, May Have Worldwide ImpactThe top European court has ruled Facebook and other internet companies can be forced to remove certain content worldwide.
UK Crackdown On Toxic, Violent Content Could Cost YouTube, Facebook, Instagram Huge FinesSocial media giants YouTube, Facebook and Instagram stand to lose millions of dollars in fines and even risk suspension in the UK, if they fail to remove toxic online videos.
Europe Passes Sweeping New Copyright Rules Opposed By Big TechLawmakers have approved a sweeping overhaul of copyright rules, dealing a blow to major tech companies that argued the changes will be costly and limit free expression.
EU Fines Google $1.7 Billion For Abusing Online Ads MarketEuropean Union regulators have fined Mountain View-based Google 1.49 billion euros ($1.7 billion) for abusing its dominant role in online advertising.
European Union To Demand Facebook Audit In Wake of ScandalEuropean Union lawmakers appear set this month to demand audits of Facebook by Europe's cybersecurity agency and data protection authority in the wake of the Cambridge Analytica scandal.
Europe Could Hit Tech Companies With Huge Fines Over Terrorist ContentTech companies that fail to remove terrorist content quickly could soon face major fines.
Europe Fines Google $5 Billion For Abusing Its Android DominanceThe company was ordered by the European Commission on Wednesday to pay €4.34 billion ($5 billion) for unfairly pushing its apps on smartphone users and thwarting competitors.


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CastForge – -New date: 21 to 23 June 2022
CastForge will not be held in 2021. Due to the continued lack of opening prospects for the trade fair industry, the risks relating to an event in June this year are no longer acceptable for the majority of exhibitors. However, a physical meeting is vital for the industry. The exhibitors at CastForge, around 62 per cent of whom travel to Stuttgart from countries outside Germany, therefore jointly agreed with Messe Stuttgart to postpone the trade fair by another year. The next Trade Fair for Castings and Forgings with Processing is therefore scheduled to take place at Messe Stuttgart from 21 to 23 June 2022.


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International Trade and Industry Minister Datuk Darell Leiking kicked start his trade and investment mission in the United States (US).
In his first stop in Washington DC, Darell met with Wilbur Ross, US Secretary of Commerce; Clete Willems, Deputy Assistant to the President for International Economic Affairs and Deputy Director of the National Economic Council; and Ambassador Robert Lighthizer, United States Trade Representative. The meetings provided opportunity in exchanging views to improve trade and investment relations, as well as understanding key concerns from both economies.
In his engagements with the US business community, Darell met with more than 26 companies in a roundtable discussion which was hosted by the US-ASEAN Business Council and the US Chamber of Commerce. Separate meetings with companies in the chemical and aerospace industry were also held. The US businesses were keen to understand about Malaysia’s trade and business policies, as well as Malaysia’s stand on various areas from free trade agreements, healthcare, digital economy, e-commerce to logistics.
In 2018, the US remained as Malaysia’s top trading nation in North America region and Malaysia’s third largest trading partner in the world at RM155.68 billion (USD38.57 billion, 8.3 percent share of Malaysia’s total trade). Exports to the US reached RM90.73 billion (USD22.48 billion), while imports from the US were RM64.94 billion (USD16.08 billion), both driven by manufactured goods.
In term of implemented projects, the US remains as the second largest investors in Malaysia in sectors such as electric and electronics, medical devices, renewable energy and aerospace valued at RM74.01 billion (USD21.86 billion). Malaysian companies have successfully ventured in the US in diverse sectors from entertainment and resort, oleo-chemical, industrial packaging, furniture to banking reaching over USD14 billion. — Bernama


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Standard Bank Group, the largest South African banking group, and GAIN Capital Holdings, a provider of online trading services, have partnered to launch a collateralised foreign exchange (FX) trading service, Standard FX Trader. Based on GAIN’s retail trading technology, Standard FX Trader marks the first time a broad based retail FX offering will be made available by a South African bank.
Glenn Stevens, chief executive officer (CEO) at GAIN Capital, said: “We are especially pleased to announce our partnership with Standard Bank, which represents GAIN’s first white label partnership with a major financial institution in the region. Together, we have brought to market what we feel is an exceptionally compelling offering, combining GAIN’s proven trading technology and experience in retail FX with Standard Bank’s leading position and expertise in trading in global markets as well as their solid reputation serving clients in South Africa, the African continent and other key emerging markets.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more


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New tools and materials to help payments system participants be consistent in how they classify fraudulent activity – in turn promoting consistency across the payments industry – were launched Thursday by the central bank.
The tools are encompassed in what is dubbed the FraudClassifier model. It was developed by the Fraud Definitions Work Group that the Fed established in March 2019. The work group includes Federal Reserve and payments industry fraud experts.
“The FraudClassifier model can help address the industrywide challenge of inconsistent classifications for fraud involving ACH, wire, or check payments,” said Jim Cunha, secure payments strategy leader and senior vice president at the Federal Reserve Bank of Boston, in a statement included with Thursday’s announcement.
The Fed says the FraudClassifier model allows organizations to classify fraud independently of payment type, payment channel, or other payment characteristics. It presents a series of questions, beginning with who initiated the payment in order to differentiate payments initiated by authorized or unauthorized parties. Each of the classifications is supported by definitions that allow for consistent application of the FraudClassifier model across the industry, it said.
The model is accessible online, along with an industry “roadmap” for advancing implementation that suggests widespread adoption of the model within organizations and integration in industry fraud studies by 2024.


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Hollywood actress Scarlett Johansson is all set to get into the beauty business.
The actress announced that she will be joining forces with the Najafi Companies, which will invest $5-$10million for her label. However, the details have yet to be revealed about the brand, including its name, or whether it would cater to cosmetic or skincare products.
The Avengers: Infinity War star has some experience in the area as she was previously the brand ambassador for L’Oreal Paris and also a celebrity model for Dolce & Gabbana’s fragrance line.
“Several years ago, I took a step back from my beauty deals with the goal of creating something true to me. The result is a clean, accessible approach to beauty,” said the actor in a statement quoted by Women’s Wear Daily.
The actor’s brand is expected to launch by the start of 2022. Former Juicy Couture executive Kate Foster has been roped in by Johansson as the chief executive.
Chief executive of Phoenix, Ariz.-based Najafi Companies, Jahm Najafi told WWD in a statement: “We are passionate about supporting ambitious and thoughtful founders and management teams who lead with integrity and vision.”
Moreover, Johansson once again shed light on how it feels to say goodbye to the role of iconic superspy Natasha Romanoff after ten years. The 36-year-old actress termed the departure as “bittersweet.”
“I think it’s bittersweet. I’ve had an incredible decade working with my Marvel family,” the actress said while virtually appearing on a talk show. “I’m going to miss not seeing them every 18 months or two years, like those kind of milestones I always really look forward to,” she asserted.


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Online nightlife and restaurant guide TimesCity, part of Times Internet Ltd, has entered into a partnership with Mobikon Asia Pte Ltd, a digital marketing startup located in India and Singapore to enable real-time table reservations for its customers on the site. For the same, Mobikon's 'Konekt' platform has been integrated into the TimesCity discovery tools for real-time match between consumer intent and availability at restaurants.
The platform will also serve as a customer relationship management (CRM) tool for restaurant owners to better understand consumer behaviour and provide greater engagement for consumers via customised couponing and directed digital marketing.
"The partnership will enable restaurants to do more by opening up new avenues in terms of customer acquisition, gain better consumer insights and at the same time provide a greater engagement for their customers," said Samir Khadepaun, Mobikon founder and CEO.
Set up by Khadepaun and Salil Khamkar in 2009, Mobikon is headquartered in Singapore and also has offices in Mumbai, Pune, Bengaluru. The startup's flagship product Konekt's cloud platform provides easy to deploy apps to capture customer feedback, profile, reservations, customer engagement in real time, analytics and multichannel campaign management. The company claims to be currently engaging 1.5 million customers, and powering over 50,000 reviews every month across 500+ outlets and for more than 60 brands in over 5 countries.
The startup had earlier raised $1.7 million in a Series A round led by Singapore-based Jungle Ventures. Super angel investors including Ravi Mantha, a member of the board of trustees at The Indus Entrepreneurs (TiE), and others also took part in the round.
Based on the popular Times Food Guide and Times Nightlife Guide, TimesCity is a comprehensive guide on food, nightlife, movies and event options in your city. It features reviews and ratings from a panel of food critics and foodies, latest movie trailers, reviews and theatre listings. It is currently available in 11 cities that include Delhi/NCR, Mumbai, Kolkata, Hyderabad, Bangalore, Chennai, Pune, Ahmadabad, Jaipur, Chandigarh and Goa.
Last month, the company had acquired location-based restaurant recommendation app Gawbl for an undisclosed amount. Gawbl was developed four months ago by a Pune-based team, led by Chiragh Kirpalani. Post the acquisition, Kirpalani joined TimesCity as head of mobile while his team is also part of the company.


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Tomorrow, Friday will see history come full circle when the business reopens its doors for the first time in four months under the name Sophie's Corner Shop.
Sophie, herself, who has run her own award-winning coffee shop and bistro just across the road on High Street for nearly ten years, said she could not let the village down.
She said: "The owner of the corner shop Joyce came to me two months ago and asked if I would consider running it.
"She had been running it with her husband Jimmy for 35 years but had had to close it in early March as the virus undermined footfall and the business.
"She was very excited when I said yes."
Since the pandemic put Britain into lockdown mode at the end of March, Sophie has carried on baking her own cakes for her popular coffee shop in the middle of Hamspthwaite which lies five miles from Harrogate.
At first it was takeaway only but, since the middle of June, the cafe has reopened properly for customers, blessed, as it it, with fabulous garden space at the back.
Perhaps surprisingly, Sophie is convinced running two businesses at the same time will make her life easier.
She said: "I will carry on doing the baking, especially the big sellers like fruit cake, chocolate cake, Bakewell tart and date and walnut scones.
"But I'm actually hoping to do less now. I've got a rota for the shop but I'm not on it!
"Although the cafe gets good footfall at the weekend, it's not quite the same as before, though the takeaway side of it is really busy.
"We've already got staff on furlough. Rather than make people redundant, they can now do a shift in the shop.
"We've got a great chef at Sophies who is going to make a range of meals such as curries, steak and ale pies and cottage pie to sell in the corner shop."
The shop may be freshly restocked, chef-made meals may be on their way and the shop's front door may have a new name above it but Sophie says she is happy to keep the business the way it has always been since she was a girl.
Sophie said: "I remember I used to love buying sweets and everything in the shop when I was 14 years old.
"It was really well run. The two ladies knew everything about running a good village shop.
"When I told them I had agreed to run the corner shop, they welled up with tears.
"They were so happy."
To mark the occasion tomorrow, Friday, of the opening or, rather, reopening of Sophie's Corner Shop, there was only one person Sophie could possibly ask to cut the ribbon.
Fortunately, Joyce also said 'yes'.
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Microsoft OneDrive is a cloud file hosting service that uses synchronization to allow users real-time access to saved information. OneDrive, is most associated with Office 365, to which it offers one terabyte of cloud storage (there is a free tier for consumers as well). Since OneDrive is often used to save Word, Excel, Powerpoint, and OneNote documents, having access to this information from your navigation pane inside of Windows 10 makes it simpler for users to get to files inside of OneDrive. Today, we’ll take a look at how to set the feature up to sync with OneDrive.
Integrated Business Technologies Blog
Microsoft is coming to the end of its support for the wildly popular Windows 7 operating system, but that doesn’t mean that they won’t make a contingency plan for those organizations that haven’t yet made the jump to new systems. It just won’t be cheap. We’ll break down the upcoming Windows 7 end of life event, and how Microsoft is offering an olive branch of sorts to organizations that simply haven’t upgraded away from this OS.
When it comes to technology, upgrading is part of the package. Despite this being a well-established fact, some business owners will delay upgrading for as long as possible, while others will upgrade as soon as the latest product is released. What’s behind a company’s motivation to upgrade or not? We can better understand this by looking at a study on why businesses upgrade their operating systems.
Microsoft’s most recent addition to the Windows family of operating systems, Windows 10, is full of new features, but when it comes to implementing it, many businesses are still dragging their heels. However, the primary reason for this seems to be the fact that organizations want to make sure Windows 10 won’t break their IT infrastructure. Despite this handicap, Windows 10 is still being tested on twice as many PCs as Windows 8 was following its release.
The hype is still strong for Windows 10, and it’s easy to see why. It’s a great operating system that has the potential to change the way your business performs its daily duties. However, the monthly desktop operating system usage statistics released by NetMarketShare hint that Windows 10 adoption is starting to slow down and that many users are simply opting to keep using Windows 7, Windows 8, and Windows 8.1. What gives?
In case you haven’t heard of her, Cortana is Microsoft’s voice assistant for Windows Phone and devices that utilize Windows 10. Just like Siri and Google Now, Cortana can be used for a lot more than simply performing a voice search. Here are six of the great new things Cortana can help you with.
We all know that Windows 10 is the hot new operating system released by Microsoft this past July, with slick new features and (gasp!) the Start menu. We’ve been writing a lot of articles about how great and functional the new operating system is. Keep in mind that Windows 10 is a great operating system, but you should also take note of these four shortcomings when considering whether you should immediately upgrade or not.
Microsoft’s latest PC operating system arrived with fanfare on July 29th, and has received overwhelmingly positive reviews so far, but is it ready for your business? Let’s take it for a spin and find out.
Just because something is brand new doesn’t mean that there’s a market for it. Just look at Windows 8 to see what we’re talking about. It might have been a brand new operating system when it first came out, but it didn’t really take to users, who preferred the familiar feel of Windows 7. How do business owners suspect Windows 10 will affect the business world?
Who’s excited about the release of Windows 10 on July 29th? We sure are! After all, Microsoft’s new OS provides features and improvements that have many users planning on upgrading as soon as possible. However, as cool as Windows 10 looks to be, we don’t recommend that businesses blindly upgrade.
A few weeks ago, Microsoft presented several of their latest projects at a live event. As expected, there was a lot of focus put on the new Windows operating system, Windows 10, in addition to their in-development browser Spartan; but what we didn’t expect Microsoft to show off was a slew of brand spanking new consumer technologies.
In addition to Microsoft’s upcoming new operating system, Windows 10, the software company has released that there is a new web browser in production. This new browser, code-named “Spartan,” is expected to have similar functionality to Mozilla’s Firefox and Google Chrome, and will be released alongside Windows 10.


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It’s a bold statement, and a bold new fragrance, for the retailer that’s just unveiled a new perfume for Justin Biebers signature scent.
Nordstrom, the world’s biggest luxury retailer, says it’s bringing in a new fragrance that is “more feminine and modern,” and will be available in a few months.
It’s called “Scent of a Lifetime,” and is the first fragrance to be created specifically for Justin.
The company says it started the project because Justin has been a huge fan of perfumes, particularly those that evoke his “pop culture icons,” including Beyonce, Beyoncé, Rihanna, and Lady Gaga.
The company says that Justin was so impressed with the product, he decided to donate it to a charity he supports called Love the Art.
That’s the same charity that donated his first fragrance, a “Gangnam Style” fragrance, to help victims of the recent Orlando nightclub massacre.
Justin Biebers first fragrance was called “Laughing Matter” and it was inspired by a song on a Justin Bieber concert tour, which the singer released in 2015.
That was followed by a second “Laughter Matter” fragrance called “Dancing with the Stars,” which Justin co-wrote.
The brand then released a third fragrance called Bieber’s Spice, which was inspired in part by his dance moves.


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Isaac Mizrahi is winning at total omnichannel by engaging with its customers.
Robert D’Loren, CEO and chairman of the parent company Xcel Brands and Isaac Mizrahi said during his keynote presentation at the IRCE Focus: Brands & B2B show earlier this week, that technology along with everything else in the retail industry is changing by the minute and being social is really what it is all about.
Retailers need to stay on top of the latest in technology and be where the customer is, whether it is on the website, in stores or on mobile, according to D’Loren.
“We must move to where things are going, at the end of the day it is about great products,” said D’Loren.
D’Loren raised the point that the evolution of shopping began as a single channel – store and customer. Today, there are multiple channels that are acting independently, however a follower sees the multiple touch points by the same brand.
Total omnichannel going forward is expected to be interactive TV, digital and bricks-and-mortar, the one thing that remains constant is the product.
“Everywhere we touch is about the product,” said D’Loren.
D’Loren said that interactive TV will converge with online and the two channels will become one in the same.


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• 6 minute read
The Asian Century? Or the ASEAN Century?
China will soon be the no. 1 economy, and ASEAN is its biggest trading partner. Close economic ties with Asia’s top economy brings benefits and concentration risks in equal measure, but geopolitical tensions will derail growth
This article is republished with permission from Perspectives@SMU, the online business journal of Singapore Management University. You may access the original article here.
In 2020, ASEAN overtook the United States to become China’s largest trading partner. The next year saw a 28 percent jump in trade volume to US$878 billion, with Vietnam, Malaysia and Thailand accounting for the lion’s share. Chinese exports to the region increased 26 percent year-on-year to US$483 billion, but imports rose even faster, up nearly 31 percent to US$394 billion.
“China is importing a lot of stuff, and the Chinese will be consuming a lot of our goods. That’s good because when trade between ASEAN and China increases, the neighbourhood will be more peaceful,” notes Don Lam, Chief Executive Officer and Co-Founder of VinaCapital, and Chair of SMU’s International Advisory Council (IAC) in Vietnam.
Lam made those comments at a panel discussion titled “The ‘Asian Century’” during the recent SMU Asia Summit 2022, which featured members of the IAC. Serge Pun, Executive Chairman of Yoma Strategic and Council Chair of IAC Myanmar, believes the garment industry presents a prime opportunity for ASEAN and China to build closer ties while creating even more economic benefit.
Pun cites a dearth of young Chinese workers to replace ageing seamstresses at garment factories, where many are approaching the blue-collar female retirement age of 50. Chinese factory owners would prefer to relocate to Vietnam but rising labour costs there have closed that option. Four countries are left to choose from: Myanmar, Cambodia, Laos, and Bangladesh.
“Cambodia and Laos have too small a population, while you have to incentivise somebody to live in Bangladesh. So that leaves Myanmar, but Myanmar needs more proactive policies to attract these factories,” Pun muses.
“How do we get a situation where all the requirements are met? Three factors are needed. One, the right policy – that’s how China became so successful. Two, adequate supply of labour. Three, logistics. If we can get all three in one place, we’re bound to succeed. But no single place like that exists.
“But is there a place where we can put all three requirements together? I’m thinking, if there is a place in Thailand where we can convince the government to set the necessary policies, and Myanmar can provide the labour, that might become the new manufacturing base for the garment industry.”
Arif Rachmat, Executive Director of PT Triputra Investido Arya, SMU Trustee, and a member if IAC Indonesia, attests to the benefit of Chinese manufacturing moving into ASEAN. Indonesia is one of the top three destinations for Chinese FDI, with Singapore and Malaysia being the other two.
Unlike the countries Pun mentioned as garment factory destinations, Indonesia’s GDP per capita is already higher than that of Vietnam’s, and Southeast Asia’s largest economy is focusing on developing higher value-added industries.
“I think Indonesia has progressed very quickly led by nickel production. Nickel is a key component in the production of EV batteries,” he observes. “Indonesia now has the largest global market share of nickel – 37 percent. Beyond nickel, solar and hydrogen energy are also abundant. I wouldn’t be surprised if some part of Singapore in the future will be electrified by solar energy from Batam.
“You may also know Indonesia is home to the world’s largest peatlands and mangroves. We plan to launch our own carbon exchange hub during the G20 summit in Bali in November this year.”
The ASEAN Century?
Chartsiri Sophonpanich, Chair of IAC Thailand and President of Bangkok Bank PCL, suggests the current era could be dubbed ‘The ASEAN century’ given the region’s average growth rate of some five percent.
“We are seeing more integration in the region,” Sophonpanich says. “We can see the increasing connectivity throughout the region, and China has been leveraging on that to build its supply chains in Southeast Asia, capitalising on the younger population in the region and the higher growth rates.”
Victor Fung, Chair of IAC China and Group Chairman of the Fung Group, echoes Sophonpanich on the integration effect of Chinese FDI even though it might have been driven by self-interest.
“If your goods are made in one country and shipped to another, such as made in China and shipped to the U.S., you’re subject to tariffs and, shall we say, political risk,” Fung explains. “If you look at the different stages of production, it’s the last stage under the WTO rules that defines the country of origin; it’s where the substantive transformation takes place.
“In the supply chain world, there is a massive search for the ‘right’ country of origin. That induces a huge integration effect. For the past decade – and intensifying recently – China has been trying to work with other countries and especially its near neighbours in Southeast Asia, to co-ordinate the final stage of production. That brings the region together.”
Initiatives like the ASEAN Economic Community (AEC) and Regional Comprehensive Economic Partnership (RCEP) showcase the region’s potential as a cohesive collective economic entity, but ASEAN’s disunity over South China Sea issues highlights the risks posed by geopolitical tensions. Don Lam believes the 10-nation grouping could explore deepening cultural ties within Southeast Asia.
“We’ve had a peaceful community in the last 50 years,” he says. “Right now I see economic integration, a little bit of political integration, but to be long-lasting there must be some form of common cultural identity within ASEAN. Should there be an ASEAN soccer league to pull everyone together? You have peace and prosperity when people feel that they are one.”
IAC China’s Fung thinks fixing the multilateral trading system might be the answer.
“The WTO has done an admirable job for us since the second world war, but over the past decade, everyone can see it is in serious need of repair. Given the current state of geopolitics I cannot imagine this to be a top-down, Bretton Woods type of realignment.
“Whether we like it or not, I think we will see a revitalised multilateral trading system and WTO building out from regional blocs. I’ve had an aversion to the word ‘bloc’ for a long time but believe it will happen that way. The global system, if you will, will be driven by the Asian bloc.”
Arif Rachmat, Chartsiri Sophonpanich, and Victor Fung were panelists in the discussion ‘The Asian Century’ at the SMU Asia Summit 2022 on 11 August 2022 that was moderated by SMU President Professor Lily Kong. Don Lam and Serge Pun were amongst the distinguished guests in attendance.


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Nintendo will launch red-colored Wii and DSi XL game consoles in Europe later this month in celebration of the 25th anniversary of Super Mario Bros., the classic video game that marked the beginning of Nintendo's journey to the top.
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There's no shortage of Nintendo DS accessories out there, but given that Sesame Street is making a splash online as of late, we thought you might be particularly interested in these Sesame Street-branded extras. The Elmo and Cookie Monster-themed styluses and cases bring it in the adorable department. The just-launched accessories are designed by a gaming gear company called dreamGEAR, and almost all of them are available from Best Buy and Toys 'R Us right now.
Nintendo has announced the successor to the Nintendo DS line of handheld gaming devices. It's called the Nintendo 3DS, and it will include 3D effects without the glasses you have to wear to watch Avatar or 3D TV. Nintendo's press release [PDF] wasn't sent to news outlets, but it's sitting undisturbed at Nintendo's website.
Japanese elementary and high school students are sure to make their American counterparts jealous this coming school year, when the popular Nintendo DS video game handheld makes its way into the classroom. Of course, the focus of using the device will be on education and learning as opposed to straight-up gaming, but as soon as teacher's head is turned we imagine a few of the wee tots will be surreptitiously firing up Mario Kart.
At E3, both Microsoft and Nintendo announced plans to utilize Facebook Connect on their console gaming platforms. Starting later today, the first such integration goes live, as Nintendo DSi owners will get the ability to upload photos from their device to Facebook. This is essentially exactly how Facebook’s applications for iPhone, BlackBerry, and other mobile devices work, integrating with the device’s camera to allow one-click photo uploads.


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Press release / Pallet company’s move to inspire keen recyclers
Press release issued for Somerlap, a Somerset-based pallet maker and seller of quality garden products
To celebrate the boom in its recycling service, Somerlap Pallets has launched a competition to inspire others to think more creatively about the humble pallet.
The Somerset business is encouraging people to take inspiration from keen pallet recycler Belinda-Jane Miers in Glastonbury and come up with their own home and garden creations.
Belinda has created a number of domestic furnishings using pallets from Somerlap, including a bed, shelves and reclining chairs.
For this year’s Glastonbury Festival revellers, she has also developed a small portable High & Dry toilet roll holder.
“Looking at the finished products, nobody need ever know that they were made using old pallets” commented Belinda-Jane Miers whose recycled works can be seen at woodworks-glastonbury.co.uk.
“People are always delighted to see the results of recycling or upcycling and this material can be of very good quality.”
Somerlap Pallets is keen to receive competition entries from others who have made or plan to produce their own products from old pallets.
Kevin Bond, managing director of Somerlap added:
“For our business the value attached to recycled pallets has presented a real opportunity. It’s great to see others taking the initiative and I hope Belinda’s ideas inspire others to have a go.”
Those wanting to try their hand at pallet recycling are invited to collect a broken pallet from Somerlap’s office in Mark. Entrants should then post videos or photos of their products on the company’s Facebook page, or email them to firstname.lastname@example.org. The overall winner will be announced in September and will receive £100 of vouchers to redeem at its garden furniture company in Mark.
Belinda advises fellow pallet recyclers to consider keeping the pallet close to its original form.
She explains: “Pallets can be hard to pull apart, so I’d recommend trying to work in a modular fashion. It is possible to use all of the components, as I’ve done with shelving units.”
The pallet arm of the Somerset business provides a reconditioning service to companies with factories and warehouses – collecting broken pallets, then repairing and reselling them. The growing popularity of this recycling scheme has generated employment at Somerlap, thanks an increase in demand generated by the increase in value of used pallets.
This initiative delivers revenue back to those who use it. An advantage recognised immediately by nearby Yeo Valley which sees a saving of between £30,000 and £40,000 a year from the recycling and resale of its used pallets.
The pallet recycling competition is open to all residents of Somerset until 31 August 2011. Entries will be judged on practicality and creative use of material.