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top 5 takeaways for entrepreneurs from Temasek’s e-Conomy SEA report
This year’s cornerstone industry report on Southeast Asia’s internet economy is out. Google and Temasek launched the report in 2016 as a multi-year research program, and this year Bain & Company have joined as lead research partner.
Didn’t get around to reading it? Don’t worry. We’ve summarised some of the key takeaways of the report for Southeast Asian entrepreneurs in the internet economy space.
1. The market size of the internet economy in Southeast Asia (in terms of gross merchandising value) remains huge – and will likely grow to $300B by 2025.
The report focuses on the online travel (flights, hotels, and vacation rentals), online media (advertising, gaming, subscription music, and video-on-demand), ride-hailing (transport and food delivery), e-commerce, and digital financial services (payments, remittance, lending, investment, and insurance).
In these pillars alone, the internet economy has exceeded $100B in GMV in 2019, and is projected to hit $300B by 2025.
This is great news for internet economy startups. Southeast Asians are now the world’s most engaged mobile Internet users, and about one out of two internet users in the region are involved in the internet economy. It’s clear the internet economy pie is huge enough for plenty of companies to grab a piece, and only continues to grow in size.
2. If you’re looking for where to grow in Southeast Asia, Indonesia and Vietnam are the pacesetters.
Growth of the region’s internet economy has accelerated in the past few years, but Indonesia and Vietnam are clearly ahead of the pack both in terms of potential market size and funding.
Indonesia’s internet economy is worth an estimated $40B, having expanded at an average growth rate of 49% a year since 2015. Indonesia is also home to many unicorn success stories such as Bukalapak, Gojek, Tokopedia, and Traveloka.
Vietnam is also emerging as a strong digital economy; the GMV of its internet economy is likely to account for over 5% of the entire country’s GDP in 2019. E-commerce is particularly strong in Vietnam. Startups in Vietnam raised over $1B in funding over the last 4 years, and 2019 is likely to be a record year.
Aside from these two superstars, Singapore remains a strong centre for well-funded startups and unicorns. Singapore’s strong spending power means that despite Singapore’s small size, its internet economy is comparable in size to the likes of its larger neighbours such as Indonesia.
On the flipside, funding for the internet economy in Thailand, Malaysia, and the Philippines lags behind. One reason may be regulatory uncertainties. In the ride-hailing sector for instance, the regulatory landscape in Indonesia, Singapore, and Vietnam has paved the way for unicorns like Grab and Gojek to flourish, whereas the same certainty is lacking in other Southeast Asian countries.
3. Focus on areas beyond metro centres, as growth in those areas will outpace growth in metro centres between now and 2025.
Up until now, the larger and more densely populated urban areas have dominated the internet economy in terms of active users and e-commerce orders, accounting for over 50% of the internet economy. These areas include Jabodetabek in Indonesia, Kuala Lumpur and Kluang Valley in Malaysia, Metro Manila in the Philippines, all of Singapore, Greater Bangkok in Thailand, and Hanoi and Ho Chi Minh City in Vietnam.
However, now that many internet economy businesses have established operations in these big cities, the focus has now shifted to the non-metro areas. Tokopedia, for example, intends to develop a “digital villages” initiative together with the West Java administration.
The internet economy in the beyond-metro areas is estimated to grow 4x between 2019 and 2025 – twice as fast as the projected growth in metro areas.
We are likely to see tech companies in the region take advantage of this, particularly the established unicorns and the “aspiring unicorns” valued between $100M and $1B which have already dominated the metro areas and are looking for further expansion.
4. Consumer behaviour has fundamentally changed, and internet companies need to get creative to attract and retain users.
Ten years ago, almost four out of five Southeast Asians had no access to the internet. Today, it has become the norm across the region to order goods and services online.
This means internet startups have had to shift tactics to hold users’ attention. The top e-commerce companies in the region have turned to a variety of strategies, from regular online promotions and shopping festivals, to using entertainment and gamification as a promotional strategy. Online shopping apps will live-stream “unboxing” videos inside their apps, and launch minigames which let online shoppers play together to unlock discounts.
Consumers no longer just use e-commerce for one-off big ticket items like electronics – they are daily users, with over 5 million orders being placed daily in the region.
5. Capital for internet economy startups continues to roll in, despite funding activity slowing down globally.
Although global venture funding in 2019 has weakened compared to the same period a year earlier, funding in Southeast Asia remains strong. In the first half of 2019, Southeast Asian internet companies raised $7.6B, around 7% more than in the first half of 2018. Funding for the internet economy in the region has grown beyond earlier predictions, which has attracted even stronger funding in a positive cycle.
The average early-stage deal size has doubled over the last three years – seed rounds have gone from $500k on average in 2016 to $800k in 2019, and series A deals have doubled from $2M to $4M in that same period.
The “funding gap” between series B and series C that was oft-talked about in recent years has largely been resolved, and the gap has now moved more to the series C and D stage. Many VCs are also raising growth funds to invest in this space.
The report’s findings in this area certainly mirrors what we’re seeing in our practice on the ground here in Singapore. We expect investment activity to remain strong regionally, bolstered also by the region’s successful unicorns pumping money back into the ecosystem.
Positive reports from industry heavyweights such as Bain and Google also affirms our own decision to have a presence in the Southeast Asia market. Do you have a budding startup and want to chat with one of our team? Book a time to talk to one of our technology and VC lawyers.


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According to Nokishita Camera, the new announced Sigma 70mm f/2.8 DG Macro Art Lens for Sony E-mount will be available for pre-order online on May 11. The US price for this lens is rumored to be $999, you can check price & pre-order option at B&H Photo Video.
Sigma China is going to have an event on March 30th, this event about Sigma E-mount lenses for Sony mirrorless cameras.
At CP+ Show, French website Focus-numerique interviewed the Sigma CEO about recently announced 9 Sigma FE lenses (Pre-order at B&H Photo Video and Adorama.com) and upcoming Sigma lens plan for Sony full frame mirrorless cameras. Sigma CEO confirmed that they will develop new lenses designed exclusively for Sony full frame mirrorless cameras.
Sigma today has officially announced two new art lenses: Sigma 105mm f/1.4 DG HSM Art Lens and Sigma 70mm f/2.8 DG Macro Art Lens. Both are available for Sony E-mount for Sony full frame mirrorless cameras. Currently these two lenses are still in development, price and release date is not available yet, stay tuned for more info.
As rumored before, Sigma will announce their FE lenses for Sony full frame mirrorless cameras around CP+ Show in early March. Now according to leaked weibo from Sigma China (Now deleted), they confirmed a lot of new lenses is coming very soon, Sigma already have many new lenses for Canon and Nikon DSLR cameras, so these upcoming lenses will probably Sigma FE lenses for Sony full frame mirrorless cameras.

domain: news


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5 August, update: this was great fun! Thanks to all who took part
Got a question about cheap travel? Join the first ever live Facebook Skyscanner chat: 1-2pm, UK time, Wednesday 3rd August on the Skyscanner Facebook page.
Recent media reports say that UK holidaymakers are squeezed for cash this year, but we’re seeing a 16% rise in flight searches on Skyscanner overall.
We at Skyscanner are a well-travelled bunch who know the secret to making money go as far (literally) as possible, so come and join our live Facebook chat – where our panel of travel experts will be on hand to answer your travel questions, with the help of our 12000+ strong community of likeminded travellers.
So come and ask a question, answer a question or just join the travel banter on our Skyscanner Facebook page, 1-2pm, (UK time) Wednesday 3rd of August.
See you there!


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An influx of rumors has prompted speculation as to when Modern Warfare 2 Remastered is coming out. Therefore, we’ve compiled everything we know so far regarding the MW2 Remastered release date, rumors, and more below.
MW2 Remastered Release Date
Ever since the release of Call of Duty Black Ops 4, the latest installment within the franchise, talks of MW2 Remastered have been merely discussions, with the exception of very recent rumors.
Theoretically, the MW2 Remastered release date could be sooner than many may think. If we completely eradicate recent rumors and leaks, 2019 still seems like the most likely option for when the game is coming out.
With the vast majority of games in the series releasing in November, and Black Ops 4 launching in October, it’s extremely hard to determine exactly when the MW2 Remastered release date is.
CoD 4 Remastered released on November 4, 2016. If Infinity Ward were to follow suit, MW2 Remastered will launch sometime in November. However, we must reiterate that there has been no official confirmation as of yet.
If Infinity Ward has any plans to bounce back from their latest release, Infinite Warfare, MW2 Remastered might just be the key to doing so.
Modern Warfare 2 Remastered Rumors & Leaks
Recently, a host of leaks have begun to circulate online. The latest and largest of which has indicated at MW2 Remastered being on the horizon.
According to an anonymous Reddit user, MW2 and MW3 Remastered will both be releasing alongside Modern Warfare 4 in 2019. In addition, the source also provided many other details. Allegedly, both of their initial launches will only feature a Campaign mode, with the possibility of Multiplayer being released throughout the year.
While this leak originated from an anonymous source on Reddit, it’s extremely hard to know how legitimate it is. Although it would be amazing, it would also seem very strange for Activision to publish three major Call of Duty titles all at once, even if two of them may not have MP.
Will MW2 Remastered Feature Multiplayer?
Back in March of 2018, many rumors began to surface online – indicating that a remaster of the all-time classic Modern Warfare 2 would be released. However, fans weren’t best pleased with the news, as the leak also pointed towards the direction of MW2 Remastered launching with the expectation of a key, fundamental aspect – Multiplayer!
In addition, as mentioned above, the latest rumor also excludes the arrival of Multiplayer. However, if the leak is anything to go by, players shouldn’t be too disappointed, because there is apparently the possibility of Multiplayer being released later on in the year.
With very little official word from Activision themselves, we cannot know for sure if an MW2 Remaster is on the cards, let alone the specifics.
Does MW2 Xbox One Backwards Compatibility Rule out a Remaster?
Back in August, Microsoft unveiled some of their upcoming major plans for the Xbox One Backwards Compatibility system. Prior to its introduction to the console, the all-time classic had received an astonishing number of requests, thus it came as no surprise to see it make a return on the beloved system.
The addition to Xbox One Backwards Compatibility also had a host of fans disappointed, however. Many believed that it would completely rule out a remaster. Although, if recent leaks among with speculation are anything to go by, that rightfully isn’t going to be the case.
It appears Modern Warfare 2 making its way to Xbox One was just to keep players happy short-term, although also leaving PS4 fans in envy.
How Much Will MW2 Remastered Cost?
In addition to the reports of MW2 Remastered only featuring a campaign back in March 2018, an Amazon listing also surfaced online – indicating that MW2 Remastered would only cost €19.99.
While this price seemed very cheap in comparison to other games, it’s extremely likely that it was only relevant to a Campaign-only release.
The price of MW2 Remastered will without a doubt depend on what’s included and whether Activision decides to bundle it alongside the upcoming installment within the franchise.
Previously, Call of Duty 4: Modern Warfare Remastered released alongside Infinite Warfare. While Infinite Warfare wasn’t widely acclaimed from fans, Infinity Ward forced users to buy both if they wanted to try MW Remastered.
It’s likely that if MW2 Remastered does launch alongside Call of Duty 2019, there will be several editions that players will be able to get their hands on. Their prices will all vary depending on what’s inside.
Who Is Making MW2 Remastered?
While Infinity Ward will have their hands tied with Call of Duty 2019, they’re going to need some assistance if they have plans to release MW2 Remastered.
Previously, Beenox Team has assisted the mainstream developers with CoD 4: MW Remastered, so there is a strong potential for them to follow suit this year.
Furthermore, Sledgehammer Games could also be a possibility. In addition to Beenox, they’ve also helped work alongside Infinity Ward with the installment of MW3.
While details of the developers are merely speculation, we are going to have to wait and see.
When Will It Be Announced?
Another frequently asked question, in addition to the array above, is when will it be announced.
Typically speaking, Call of Duty games are often announced between March-May, with a reveal surfacing several weeks (potentially months) later. MW2 Remastered is expected to be announced directly alongside the next entry to the series.


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KARACHI: The Union of Small and Medium Enterprises (Unisame) has expressed regret at the profiteering in the supply chains on ready stocks, giving excuse of imports becoming costly due to the devaluation of the rupee, a statement said on Thursday.
Unisame president Zulfikar Thaver said that the suppliers have increased the prices of goods in ready stocks and of goods imported at the old parity rate last year or several months ago.
This is evident from the fact that the goods now being sold at the new increased prices bear the old price tags. He said the goods under the new parity are yet to be imported but the traders are charging for goods calculating the selling price according to the current parity rate.
This has caused a hike in inflation and the consumers are helpless, as every single item is becoming expensive and even the locally-manufactured goods have become expensive, as they claim that their cost of production and distribution has increased due to a hike in fuel prices and their imported raw materials.
The Unisame Council is at a loss to understand the result of this state of affairs and if unchecked will cause the common man hardships, making survival difficult.
Thaver said that the rich are becoming richer and the poor are becoming poorer and the government seems helpless.
He urged the State Bank of Pakistan (SBP) to intervene and control the parity rate and the rupee from further depreciation and also monitoring of the prices of goods and commodities to control unfair profiteering.


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Google announced its new Android version, Android 9 Pie recently. It also stated that the update will be available exclusively for Pixel devices currently. Now, there is news which suggests that Google has released an OTA (over-the-air) update for Essential Phone. This is considered to be the first non-Google device to receive an OTA update. Essential phones have thrived all along for its software support with other updates and applications. The device has become well-known to be receiving very frequent updates and the recent one being Android Pie.
The best part is that Essential phones will receive Android 9 Pie on the same day as the Pixel devices will receive. Google released the OS which will be available to Essential, all credits to Project Treble. The team of Essential phones has their priority set, to bring out updates quickly, efficiently and make more compatible devices and software.
Essential Phone didn’t turn out to be what Andy Rubin envisioned, but if you own it, you sure will not repent all thanks to the Android Pie update that it will soon receive.


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(Computer World) – Ask any IT administrator about Microsoft’s licensing setup and they’ll hurl up a string of four-letter words that would incur an FCC fine if delivered on television. In a world where everyone wants to use everything — especially Microsoft Office — on tablets, phones, and oh yeah, computers, Microsoft’s customary one-license-per-device model means death by a thousand cuts for most enterprises.
That’s why it was a big deal in December when Microsoft rolled out the Enterprise Cloud Suite (ECS), an optional add-on to the Microsoft Enterprise Agreement that gives access to Microsoft Office 365; the Enterprise Mobility Suite for mobile management; and, for the first time ever, a per-user (not per-device) licensing model for Windows.
Even at the launch of ECS, Microsoft was vague on details. But the company has now confirmed that the suite costs between $7 and $12 per user per month and includes a Windows Enterprise Edition license for any x86 desktop/laptop or Windows tablet (as long as the screen is smaller than 10.1 inches). It also includes licenses to access Windows Enterprise via VDI or through the Windows To Go feature that lets users access a corporate pre-approved image of the OS from a USB drive.
Users not already under an Enterprise Agreement can just buy the cloud features directly for a comparable price.


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Smith's in Reno to sell antidote for opioid overdose
RENO, Nev. (News 4 & Fox 11) —
Smith's Food and Drug in Reno says it will now carry and sell without prescription an antidote for opioid overdose.
The grocery chain says it will carry Naloxone, which is approved by the U.S. Food and Drug Administration, at all of its Nevada pharmacies. It comes in either a nasal spray or injection, and it can block and reverse the effects of an overdose.
The stores' pharmacists have also been trained to help customers use the antidote and how to spot warning signs of an overdose.
"The opioid overdose death rate continues to grow, so it’s imperative that our pharmacies offer a drug that can help reduce this epidemic," Smith’s pharmacist Dan Heller said in a statement.
More than 50,000 people in the U.S. died from drug overdoses in 2016, according to statistics from the Centers for Disease Control and Prevention.
To learn more, visit smithsfoodanddrug.com.


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Operating Chabahar port will provide India with a foothold at the mouth of the strategic Straits of Hormuz, through which a third of all the world's sea-borne oil passes.
India's investment, development, and operation of Chabahar port will strengthen its relationship with Iran, its third largest oil supplier.
The port is a gateway to an overland trade corridor through Iran to Afghanistan. It will enable India to play a larger role in Afghan reconstruction.
This trade corridor could expand India's trade ties with the Central Asian Republics (CARs), which currently stands at a meager $1.5 billion, accounting for just 0.11 percent of India's overall trade.
Once Chabahar is linked to the multimodal International North-South Transport Corridor (INSTC), India hopes it will become a gateway for its trade with Eurasia as well.
It is estimated that with the operationalization of Chabahar port and INSTC, India's trade with Eurasia could touch $170 billion ($60.6 billion in exports and $107.4 billion in import).
India is developing the Shahid Beheshti terminal at Chabahar over five phases and on completion, the port's capacity will be around 82 million metric tons per annum. State-run Indian Ports Global Limited (IPGL) will be responsible for the port's management for a temporary period of 18 months and if the two sides agree on extending the lease, a 10-year period thereafter.
India has provided a capital investment of $85.21 million and annual revenue expenditure of $22.95 toward equipping two berths at Chabahar port for Phase I.
It is constructing a $1.6-billion railway line from Chabahar to Zahedan, near the Iran-Afghan border. Besides, Indian private and state-run petrochemical and fertilizer companies are planning investments worth $20 billion in Chabahar Free Trade Zone.
Chabahar's location gives the port immense economic and strategic significance. Situated at the mouth of the Gulf of Oman on Iran's Makran coast, it gives Iran direct access to the Indian Ocean.
Chabahar port is Iran's first deep-sea port. Hitherto, Iran's shipping industry was restricted by the absence of deep-sea ports in the country. Bandar Abbas, which handles the bulk of Iranian shipping, for instance, cannot receive ships exceeding 100,000 tons. Therefore, high tonnage ships dock at the United Arab Emirates, where the cargo is then loaded on to smaller ships better suited for Bandar Abbas port's more shallow waters. The deep-sea port at Chabahar will save Iran millions of dollars in fees to the UAE and reduce its dependence on that country.
Chabahar port will also reduce landlocked Afghanistan's dependence on Pakistan for access to the sea.
As for the landlocked CARs, which have been relying on ports in Turkey, Russia, the Baltic States, China, and Iran (via Bandar Abbas), the route through Chabahar will provide them with another option and the shortest overland route to conduct their maritime trade.
The plan is for Indian shipments to be offloaded at Chabahar port, where cargo would be loaded on to trucks and trains to Zahedan and onward to Zaranj in Afghanistan.
Goods can be transported then to any part of Afghanistan via the Ring Road, even beyond, to the CARs. Likewise, goods from Afghanistan and the CARs — the latter have trains that are already linked with the Iranian rail network — reaching Zahedan would be transported overland to Chabahar, from where ships would carry the cargo to India and other countries.
It was in 2013 that Iran first put forward to India its plan to develop Chabahar into a regional trade and transshipment hub. It has taken a long time for that plan to become a reality.
Key to the future of Chabahar is the frequency of traffic and volume of shipments the port will draw. At present, India is focusing on shipments to Afghanistan but this isn't enough to make Chabahar port economically viable.
To tap the Chabahar project's full potential, connectivity in the region needs to improve but capital deficit issues have kept the Chabahar-Zahedan railway project from gathering steam.
China could also participate in the Chabahar port project. Iran has made it clear several times that "it would like to invite more players, including China and Pakistan", to participate in the Chabahar project.
* Sudha Ramachandran is an independent journalist/researcher based in Bangalore, India.


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Teased at last year's budget tabling, the Malaysian government will officially start taxing digital services starting January 1, 2020.
The tax, which was passed last year at a rate of 6% per annum, covers: Paid digital services like Netflix and Spotify, digital advertising offered by Google and Facebook, and software and games distribution companies such as Steam.
The Digital Service Tax will start on January 1st:— BFM News (@NewsBFM) October 11, 2019
It covers streaming services like Netflix & Spotify, digital advertising such as Google & Facebook, as well as digital software and games distribution companies such as Steam. #Belanjawan2020 #Budget2020 pic.twitter.com/4ax6gfYSfY
The country's Finance Minister Lim Guan Eng gave the reminder at today's annual presentation for year 2020, which is currently ongoing in Parliament's Lower House.
Under this new law, digital tax defaulters can be fined up to RM50,000, imprisoned for a term of up to three years, or both, upon conviction.
Since October 1, foreign digital entities have been urged to register with the government and comply with the new tax structure, and they're fairly sure that responses will be prompt.
"Many are asking whether the foreign digital service provider companies will voluntarily register with us and pay the tax as required. Big names, without having to say who they are, will be facing bad publicity if they are not registered," said Deputy Finance Minister Datuk Ir Amiruddin Hamzah as quoted by New Straits Times.
You heard it, big boys. Start lining up.


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May 16, 2008SAN DIEGO and LONDON
Qualcomm products mentioned within this press release are offered by Qualcomm Technologies, Inc. and/or its subsidiaries.
Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies and data solutions, today announced that it has acquired 40 MHz (1452-1492 MHz) of L-Band radio spectrum recently auctioned by UK communications regulator Ofcom, at a cost of GPB 8,334,000. This acquisition will allow Qualcomm, in collaboration with its partners, to bring a variety of innovative wireless technologies to the UK market.
“Winning this license creates an opportunity for Qualcomm to explore emerging business models and advanced mobile technologies,” said John Caterer, managing director, UK, Qualcomm Europe, Inc. “If we can help the market to harness this potential, we will see additional opportunities for service providers using a variety of technologies. This will ultimately benefit consumers, offering them high quality services and a range of creative applications.”
“Qualcomm has a long history of innovation and creating new technology markets,” said Andrew Gilbert, executive vice president of Qualcomm and president of Qualcomm Internet Services, MediaFLO Technologies and Qualcomm Europe. “Acquiring this spectrum will enable us to develop, test and explore a variety of innovative wireless services and technologies that will benefit European consumers and the wireless industry as a whole.”
The L-Band spectrum license acquired by Qualcomm covers the entire United Kingdom and is technology neutral, thereby enabling Qualcomm to use the spectrum for innovative technologies, depending on its assessment of market needs in the United Kingdom.
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 500 Index and is a 2008 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.


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How much time do you think you spend at the grocery store? For many families, it can really add up every week, just to get the necessities. Walmart hopes its new program could change that.
Click, pay, drive and done. Walmart says its new Grocery Pickup really is that easy.
Customers simply select their items online from Walmart’s website, submit their orders and then set a pickup time.
When you arrive at the store, just make a call and Walmart brings the groceries to you.
The program first began in select stores in Denver, San Jose and Bentonville, Ark.
Now Walmart wants to focus on customers in the Arizona Valley, offering the free service at these three stores:
1175 S. Arizona Ave., Chandle, AZ
1710 S. Greenfield Road, Mesa, AZ
240 W. Baseline Road, Mesa, AZ
The testing officially began one week ago and already the corporate office is calling it a success.
“Even though it’s the first week, we’re really excited,” said Ravi Jariwala, Walmart’s director of public relations. “Our teams are fired up and trying to deliver a very good experience to customers.” But Walmart isn’t the only store changing things up.
While there are no immediate plans for the Valley, Kroger (which owns Fry’s) is testing a program that’s been successful in other parts of the country.
“Our Harris Teeter stores in the mid-Atlantic region of the country operate a successful ‘order online, pick up at the store’ program,” said Jo Lynn, Fry’s public affairs director. “Kroger is testing that model in Cincinnati with the intention of expanding it over time.” Safeway offers grocery delivery, for a fee. Bashas’ used to, but discontinued it, adding that there are no plans right now to revive that service.
“Home delivery and order-ahead programs aren’t for everyone,” said Bashas’ spokesman Rob Johnson. “When it comes to groceries — and particularly things like produce and meat — customers like to pick out their own items. They like to thump the watermelon, choose from several packages of steaks, look at date codes, read ingredients labels, etc.”
Walmart says its employees see customers who want options. “It’s a new way of serving customers and customer shopping behavior is changing,” said Jariwala. “So they’re really excited to be able to offer this to customers in Phoenix.”


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During the day, the first cryptocurrency has risen in price by 10%, and its capitalization has exceeded $ 1 trillion
The price of bitcoin on the Binance crypto exchange rose above $ 55.5 thousand. Over the past day, the first cryptocurrency has risen in price by 10%, and its capitalization has exceeded $ 1 trillion. The growth for the week was 36%.
The price of the cryptocurrency is moving towards the all-time high of $ 64.8 thousand, set on April 14. After that, the value of the asset fell several times to $ 30 thousand, then began to recover.
In early September, bitcoin was trading above $ 52.9 thousand, when the law on the recognition of the first cryptocurrency as a means of payment came into force in El Salvador. On the same day, the government of El Salvador bought 400 bitcoins. Later, the country's authorities bought another 300 bitcoins.
On October 6, Soros Fund Management CEO Don Fitzpatrick confirmed that the George Soros Foundation owns bitcoins. According to her, the fund invested a small amount in the first cryptocurrency.


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Earlier this yr, after we lined the information that Meta had signed on fast food giant McDonald’s as a buyer for Office, the B2B service that was initially conceived as a Fb for enterprises, we famous that Office the product had, curiously, been moved into a bigger “Reality Labs” division to convey it nearer to Meta’s VR enterprise. Right this moment the Meta is asserting some new developments that talk to this pivot: a raft of enterprise companies geared toward a brand new effort to get companies utilizing its new, high-spec Meta Quest Professional VR headsets within the office.
They embody a brand new model of the corporate’s Horizon Workrooms, and partnerships with Microsoft, Accenture, Adobe and Autodesk to construct out extra enterprise-ready and designer-ready VR companies.
The flip is just not out of the blue: it’s well-known that companies are prone to be among the most certainly (and when you’re skeptical possibly among the solely) and long-term prospects of VR expertise; and Meta itself had already been taking some steps to constructing functions and experiences for them. (Albeit, it’s positively not adopted by on all of them. Oculus For Enterprise was sunset with the substitute, Quest for Enterprise, as we speak nonetheless solely in a closed beta. “We learned a lot from that,” was the principle takeaway in accordance with
#Metas #enterprise #push #metaverse #TechCrunch


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On July August 22, 2018, National Association of Realtors® (NAR) reported that nationwide existing home sales declined 0.7% to annual rate of 5.34 million homes in July of 2018 from 5.38 million homes in June of 2018, and down 1.5% from July of 2017.
There were 1.92 million homes supplies of available inventory in July of 2018 declined 0.5% from June of 2018, but did not change 0.0% from 1.92 million homes in July of 2017; while, there were 4.3 months available inventory in July of 2018 same as compare to 4.3 months in July of 2017. On average it took 27 days to sell a home in July of 2018 higher from 26 days in June of 2018, but lower from 30 days in July 2017.
First time buyers acquired 32.0% of homes in July of 2018, gained from 31.0% in June of 2018, but decrease from 33.0% in July of 2017. Cash buyers purchased 20.0% of all sales in July of 2018, decreased from 22.0% in June of 2018, and rose from 19.0% in July of 2017. Investors purchased 13.0% of homes in July of 2018, same as from 13.0% in June of 2018, and from 13.0% in July of 2017, according to NAR on August 22, 2018.
Lawrence Yun, NAR chief economist, stated “Too many would-be buyers are either being priced out, or are deciding to postpone their search until more homes in their price range come onto the market.”
For more complete information on NAR's July of 2018 existing home sales report, please click HERE


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Publix Slammed for Stinginess
Pressure continues to mount on Publix Supermarket, the mega chain of supermakets that for three years has refused to pay Florida tomato growers just an extra penny per pound, for each bucket of tomatoes picked.
Beginning today, about 150 persons — faith leaders, students, community leaders and more than 60 farmworkers began a six-day fast outside Publix corporate headquarters in Lakeland. The group hopes to raise awareness of Publix’s role in blocking progress in the fields and expanding the rights of the farmworkers who harvest the nation’s food.
“Publix’s motivations for not signing the Fair Food Code of Conduct, is hard to fathom,” said Jordan Buckley of Interfaith Action of Southwest Florida, one of the organizers of the Fast. “They continue to say they don’t want to be involved in labor disputes.” Another excuse we hear is that, Publix will be happy to participate if the penny is in the price, but that’s precisely where it is, Buckley adds.
Over the last few years, the Coalition of Immokalee Workers from which the Fair Food Program emerged, has been successful in getting a number of fast food giants that purchase Florida tomatoes, to join the program. McDonald’s, Taco Bell, Burger King and Subway, among others, are all members of the Campaign for Fair Food. As well, supermarkets chains like Whole Foods and most recently Trader Joe’s, have signed on. Most have agreed to pay an extra 1.5 cents more per pound for tomatoes. Growers then pass on this increase to farmworkers.
But not Publix. Florida’s largest corporation, with $27 billion in sales last year and $1.5 billion in profits, remains indifferent to the Campaign for Fair Food.
“We want Publix to recognize our humanity,” said Nely Rodriguez of the CIW. “We want the people who run Publix to sit at the table with us and look us in the eye and tell us what good reason they have for not joining the Fair Food Program. We want Publix to explain to us how they can claim to be a responsible neighbor given the way they have behaved toward farmworkers and misled their customers for the past several years. I don’t believe they would be able to look us in the eye and justify these things. And if not, they need to come forward and do what is right.”
Buckley said he expects the six-day Fast outside Publix’s corporate headquarters, culminating in a three-mile march on Saturday, March 10, at Publix Supermarket, 3636 Harden Boulevard, Lakeland, will once more raise the public’s awareness of Publix’s unconscionable indifference and put pressure on the supermarket to sign on.
Several notable supporters are expected to visit the fasters over the course of the week-long campaign. These include: Kerry Kennedy, President of the Robert F. Kennedy Center for Justice and Human Rights, Brian McLaren, (author, A New Kind of Christianity) and Barry Estabrook (author, Tomatoland) are among the many civic, faith, student, and community leaders who will be visiting the fasters over the course of the week-long action. Rev. Michael Livingston, former President of the National Council of Churches and current Director of NCC’s Poverty Initiative will join the fasters for the six-day Fast.
The Campaign for Fair Food affirms the human rights of tomato workers and aims to end decades of farmworker poverty and degradation.
For more information on the Campaign for Fair Food, visit: ciw-online.org.


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Nokia yesterday announced that they during the first quarter of 2012 sold around 83 million mobile phones, 12 million smart phones and 71 million feature phones. Analysts calculate that Samsung now, been the number two for a long time now in the worldwide market share,the sold in that same quarter between 85 and 90 million mobile phones.
Nokia saw its sales of the first quarter sinking deeper than ever. Compared with the previous year (Q1 2011) the Finns sold over 35 million units less. This decrease was mainly due to a further decrease in the number of the sold Symbian smartphones, coupled with the still limited success of the new Windows Phone (Lumia) models.
Samsung’s sales grew by contrast, compared to Q1 in 2011, with 15 to 20 million devices, depending on which prediction (85 – 90 million) comes out. The Korean manufacturer has yet to present its quarterly results. The same goes for the final results of Nokia for the first quarter of 2012. Anyway, Samsung has overtaken Nokia
This is caused by Nokia not supporting SYMBIAN!! and instead trying to use obsoleto windowsphones which there are NO sales worldwide.
Hope Elop change immediately the strategy and keep supporting SYMBIAN.
Past 14 years Nokia was the undisputed number 1, but since some quarters the Finns lead heavy losses.
This is due to the problem of not supporting symbian!!!!


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Harris Williams & Co., an investment bank owned by PNC Financial Services Group Inc., Tuesday announced the sale of Water Pik Inc., developer and marketer of personal health care products.
Water Pik was sold to MidOcean Partners and Vulcan Capital. It had previously been a portfolio company of EG Capital Group LLC and the Carlyle Group. Financials were not disclosed for the transaction which closed Monday. Harris Williams served as exclusive financial adviser to Water Pik.
“The transaction highlights investors’ appetite for high-quality consumer product companies,” John Neuner, Harris Williams managing director, said in a prepared statement. “We expect the ongoing economic recovery will continue to drive M&A activity in the sector, especially acquisitions of strong brands with differentiated products and deep customer relationships.”
PNC (NYSE:PNC), Pittsburgh’s largest bank, acquired Harris Williams in 2005.
Patty Tascarella covers banking, finance and the legal industry. Contact her at firstname.lastname@example.org or 412-208-3832.


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EDITOR'S NOTE: Why would the Unions NOT want their workers working to produce food for the nation ( seriously, ask yourself these critical questions: Why, Cui Bono, For What Purpose, What is the End Goal, etc). This stance is a ridiculous as the Doctors and Nurses Union wanting to keep hospitals closed - because they might get sick. Keeping this nation fed is one of the MOST critical and essential industries - period. IF the Union folks don't like it and don't want to work - fine, they can picket all they want in this free country of ours ... there are MILLIONS of people across America that would love to take one of those jobs right now.
President Donald Trump signed an executive order Tuesday that compels slaughterhouses to remain open, setting up a showdown between the giant companies that produce America’s meat and the unions and activists who want to protect workers in a pandemic.
Meat processing plants around the U.S. have shut down because of the coronavirus, but Trump said in the order that “such closures threaten the continued functioning of the national meat and poultry supply chain, undermining critical infrastructure during the national emergency.”
Using the Defense Production Act, Trump is ordering plants to stay open as part of the critical infrastructure needed to keep people fed amid growing supply disruptions from the coronavirus outbreak. The government will provide additional protective gear for employees as well as guidance.
The move came just days after Tyson Foods Inc., the biggest U.S. meat processor, ran paid ads in national newspapers stating that the food supply chain was “broken.”
A handful of companies account for the majority of the nation’s meat, and as workers fell sick in March, plants initially continued to run. But pressure from local health officials and unions led to voluntary closures.
Companies have been pressing to reopen. The president himself has long agitated for Americans to return to work and restore an economy crippled by social distancing measures.
Read Original Article at bloomberg.com


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CNET News.com is reporting that Microsoft is set to make the new versions of its popular programs in Office – namely Word, Excel and PowerPoint, to be accessible online within a standard web browser. There will be two versions for the online suite; one for consumers via its Office Live, and another for business and enterprise consumers via its SharePoint services.
The development of these online versions will be developed with the next version of Office, Office 14 (why they skipped Office 13 is beyond me). As well, a beta version is expected to go online next year.
The new move to online applications comes after facing serious competition from Google; with its Google Docs product – which is able to create documents, spreadsheets and presentations online. All of the products are free.


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Microsoft’s Windows 10 has seen a great development by Windows Insiders program. In ever history of Windows, no one in public were able to test pre-builds for Windows XP, Windows 8 and so on.
Today, Microsoft launched their new website, and it allow us to view history development Windows 10 builds along with the changelog of all released builds. It is a very helpful site as previously we used to visit Wikipedia to get information about Windows 10 history. The company stated with the launch of the new website:
We’re committed to our customers and strive to incorporate their feedback, both in how we deliver Windows as a service and the info we provide about Windows 10. In response to this feedback, we’re providing more details about the Windows 10 updates we deliver through Windows Update. You’ll see a summary of important product developments included in each update, with links to more details. This page will be regularly refreshed, as new updates are released.
We’re currently delivering updates to two distinct Windows 10 branches. The July initial launch branch (build 10240), and the November update branch (build 10586). We introduced new operating system features in November after having previewed, or “flighted”, them with our Windows Insiders between July and November. Most customers have already been moved automatically from the July branch to the November branch.Windows 10 Professional, Enterprise, and Education edition customers can defer the update to the November branch and stay on the July feature set longer — as long as 10 years for some Enterprise customers. For more info, see Windows 10 servicing options.
To know more the website, visit it by clicking here, Do let us know what do you think about this website, in comments below:


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Singapore-headquartered Grab, Southeast Asia’s leading super app, announced Tuesday that it has raised over $850 million from Japanese investors, including Mitsubishi UFJ Financial Group Inc (MUFG) and TIS Inc.
Grab said MUFG, one of the world’s largest financial institutions, will invest $706 million while TIS, the leading provider of network solutions and system integration services, will chip in $150 million.
The fresh funding will be used to create accessible and affordable financial services for Southeast Asia to boost the region’s financial inclusion, Grab said.
The investment comes as reports surface about the possible merger of Grab and Indonesian ride-hailing giant Gojek. The Indonesian unicorn, however, denied the report while Grab declined to comment.
Under the partnership with MUFG, both the companies will co-develop next-generation financial products and services based on our combined customer insights to better cater to the financial needs of Grab’s users, driver-partners and merchant-partners.
“MUFG’s investment into Grab is a vote of confidence in our super app strategy and our ability to build a long-term, sustainable business,” Ming Maa, Grab’s president, said in a statement.
Grab Financial Group currently offers financial services across payments and remittance (GrabPay), rewards (GrabRewards), lending (GrabFinance), insurance (GrabInsure), and retail wealth management (GrabInvest) to our micro-entrepreneurs, small business owners, driver-partners, and users in Southeast Asia.
Under the partnership with MUFG, Grab will confer “First Choice Bank” status to MUFG and its partner banks in the region. Both companies will also co-develop innovative financial products and services based on their combined customer insights to better cater to the financial needs of Grab’s users.
“We are excited to be able to provide customers with next-generation financial services by combining Grab’s advanced technologies and data management expertise with our financial knowledge and know-how,” said MUFG Deputy President, Group COO & Group CDTO Hironori Kamezawa.
As part of the agreement between Grab and TIS, both of the companies will collaborate on enhancing the digital payment infrastructure in the region and in Japan to enable greater adoption of cashless payment options, such as GrabPay. Both companies will also collaborate on developing emerging payment technologies.
MUFG aims to provide next-generation financial services by combining its strengths in financial knowledge and know-how with Grab’s advanced technologies and data management expertise, said Nobutake Suzuki, president and CEO of MUFG Innovation Partners.
“Through the alliance, MUFG will also leverage its initiatives and experience Southeast Asia with Grab to accelerate both the evoluation of MUFG’s business model and the realisation of next-generation digital financial services, including in Japan,” Suzuki stressed.


text: I'm not going to say that Wendy's is stealing share from McDonald's and/or Chipotle, but the fact that gross margin advanced 50 basis points year over year to 23.7% is also an encouraging sign the company is outperforming its own expectations. The fact that Wendy's raised its prices, which helped offset the decline in its transactions, demonstrates good execution. In other words, although Wendy's is seeing less foot traffic, the customers it gets are paying more -- a sign the company is building leverage. If management can continue to capitalize on this performance, the stock should perform accordingly. In that regard, for the next quarter, the Street is looking for 6 cents in earnings per share on revenue of $664.4 million.


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Issa brothers are under scanner again as MPs have raised concerns that Asda’s ownership structure could be limiting the supermarket’s ability to support shoppers through the cost of living crisis.
In a letter to Mohsin Issa, one of the billionaire brothers who bought the supermarket with a private equity partner, TDR Capital, in 2020, Darren Jones, the chair of parliament’s business and trade select committee, has asked for details of the retailer’s corporate structure, capital investment and profit margins on petrol.
“The committee has concerns that the complex company structure within which Asda sits, and associated decisions on financing, may restrict your ability to help meet cost of living pressures on your customers,” Jones writes in the letter published on the committee’s website.
In the letter he also seeks details on loans from the Issas’ petrol forecourt operation, EG Group, which helped fund the buyout of Asda, the UK’s third-largest supermarket, and the purchase of two private jets for the brothers from Blackburn.
Scrutiny of the Issas’ finances has been prompted by concerns that the company’s complicated structure and high debts may leave Asda customers facing higher than necessary prices.
The Issas owned petrol station group EG before buying Asda. The supermarket subsequently bought the UK business of the Issa’s forecourt empire in a £2.3 billion deal earlier this year.
Jones has also asked for details of loans worth “tens of millions of euros” reportedly granted to the brothers by EG Group to purchase private jets, Telegraph reported. Jones asked Issa whether the interest-free loans were used to purchase the jets as reported, whether partners TDR Capital and EG bondholders were aware of the arrangements, whether interest was added to the loans at a later date and whether the debts were paid off following the sale of EG to Asda.
“These questions are to help us understand if you are enabling Asda to do all that it can to help keep costs down during a cost-of-living crisis,” stated the letter.
Asda and other supermarkets have been criticised for taking high profits on fuel. An investigation by the Competition & Markets Authority (CMA) earlier this year found Asda’s profit margin targets at the pumps had tripled since 2019.
There are fears that the structure of the Issa takeover, which has reportedly doubled Asda’s debts and increased interest payments from £90m in 2021 to more than £400m this year, is restricting the chain’s ability to invest in low prices.
An Asda spokesperson said: “Asda will continue to cooperate fully with the business and trade committee’s inquiry and will respond to its follow-up questions. Asda’s owners are committed to the long-term sustainable growth of the business and are investing in both supporting customers and colleagues during these challenging times.”


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Why Africa’s struggle for FinTech-friendly regulations is more important than ever
With only a handful of African markets boasting regulatory sandboxes, the continent may still have miles to go on FinTech frameworks even as the importance of conducive legislation is being brought into the limelight with Covid-19 forcing economies to go digital.
Like any new financial, technological and legal reality, FinTech is inherently disruptive for any system of law. In many cases, FinTech sits uneasily amid existing regulatory frameworks and challenges regulators to produce an appropriate and customised response. Such a legal response must be both adequate and timely for the FinTech solution to not only be viable but also effective in its potential impact and capacity to contribute to positive social change.
Needless to say, no discussion on social change and financial inclusion powered by FinTech is complete without talking about Africa. With the proliferation of mobile money service providers, following in the footsteps of Kenya’s M-Pesa, Africa’s financial services industry is rapidly evolving into a largely digitised space. Despite their varied starting points, priorities, and capabilities, African markets are ready to take advantage of new FinTech innovations.
It is then sobering to reflect that regulatory frameworks that are currently enacted in the region are not keeping up with the rapid pace of change. Regulatory convergence will also be important, as African markets and countries are fragmented and conflicting regulatory regimes could present difficulties for financial service providers.
Regulation and innovation: Reaching middle ground
Arriving at an optimal and comprehensive regulatory framework for FinTech in Africa poses several challenges. However, the absence of robust regulations could expose both end-users and FinTech service providers to a multitude of risks. At the other extreme, stringent regulations can discourage FinTech firms from bringing about the right innovations, thus hindering the development of these entities. Hence, the importance of striking a balance and reaching a sensible middle ground cannot be emphasised enough.
The middle ground might be provided by regulatory ‘sandboxes’, which are essentially safe and supervised environments created by regulators that allow innovative businesses to test new products and solutions prior to their full implementation. These sandboxes target a variety of entities and are generally not limited to a particular financial product. As a result, underlying sandbox rules tend to be broad enough to encompass most FinTech businesses.
Against this backdrop, Kenya, South Africa and Nigeria stand out as the region’s leaders in terms of serving as FinTech hubs that boast their own innovation sandboxes to promote the growth of the FinTech sector. It is also important to keep in sight emerging FinTech hubs such as Mauritius, which deserves attention as an international financial centre of note where the government has only recently affirmed its commitment to innovation by announcing in Budget 2020-21 that a new sandbox framework will be introduced to facilitate development of proof of concepts and pilot exercises to test the possibilities of innovative technologies.
The innovative trio: South Africa, Kenya and Nigeria
The Global FinTech Index 2020 identifies the four African cities of Johannesburg, Nairobi, Lagos and Cape Town among the top 100 FinTech ecosystems globally. The rankings reflect that these cities are home to Africa’s most valuable tech ecosystems and typically account for the most start-up investment received on the continent.
Home to some of Africa’s leading banks, financial institutions and FinTech start-ups, Johannesburg is the continent’s largest FinTech hub with a global ranking of 62. South Africa is the only African country on the list to boast two FinTech hubs, with Johannesburg followed by its sister city of Cape Town at fourth place in Africa and 87th place globally. On the regulatory front, the South Africa Reserve Bank has overseen several initiatives including Project Khoka, a proof-of-concept interbank payment and settlement system based on Distributed Ledger Technology, and the Inter-Governmental FinTech Working Group (IFWG). In April 2020, the IFWG rolled out an innovation hub with a three-pronged approach of regulatory guidance, testing products and services through the regulatory sandbox, and an innovation accelerator to give firms the opportunity to connect with others using the hub.
Nairobi is Africa’s second largest FinTech hub and ranked 63rd globally, with an estimated 20% of African FinTech firms and an emerging ecosystem of local investors and venture capital firms complemented by a steady rise of international investors and growing interest from global technology firms. The Central Bank of Kenya regulates the financial sector as a whole with the National Payment System Act, the National Payment System Regulations 2014, and the Regulatory Sandbox Police Guidance Note, governing the FinTech space. In August 2019, the country’s Capital Markets Authority (CMA) ran a regulatory sandbox under which three Kenyan FinTech start-ups were selected to take part and showcase their innovative offerings.
Lagos, based in Africa’s most-populous nation, is ranked third among African FinTech hubs and 71st globally, presenting as it does one of the region’s biggest opportunities for FinTech with nearly 40% of the population unbanked and close to two-thirds under 25. In March 2018, the Central Bank of Nigeria (CBN), in collaboration with the Nigerian Interbank Settlement System, introduced a regulatory sandbox even as the CBN is developing a set of regulations for FinTech firms. In December 2019, Financial Services Innovators (FSI), a leading Nigerian community of FinTech entrepreneurs, regulators, companies, incubators, and developers, launched the first FinTech industry innovation sandbox in Nigeria.
Mauritius: Rising star in the FinTech space
While Mauritius may not breathe the same rarefied air as a South Africa, Kenya or Nigeria, it is clear that the small island nation is punching above its weight in the FinTech space.
Incidentally, the Global FinTech Index 2020 highlights conducive regulation and small size as two ingredients of successful FinTech hubs. It notes that smaller cities tracked by the index do really well as “proof of the value of an ecosystem where people can connect easily.” On regulation, it stresses that conducive legislation top the chart of a successful FinTech hub as FinTech-friendly regulations incentivise entrepreneurship and encourage investment. Mauritius clearly has both factors going in its favour, as evidenced by the small size of the innovation ecosystem that facilitates networking and interactions among all members, and the focus on developing a regulatory framework that nurtures the growth of FinTech firms.
No wonder then that the island economy counts among the handful of countries in the continent that have implemented a regulatory sandbox regime, under which its Economic Development Board (EDB) has granted licences to at least 9 companies as of August 2019, including crowdfunding platforms, blockchain services and crypto-currency exchanges. With the new innovation sandbox announced in this year’s Budget, one can only expect an increase in the number of licences granted to innovative enterprises, including FinTech firms.
Last year, the Mauritian Financial Services Commission (FSC) enacted a sandbox licence recognising crypto currency as a digital asset as it seeks to develop and promote blockchain technology. The FSC then went on to establish a regulatory framework for digital asset custodian services following consultations with the Organisation for Economic Cooperation and Development on the governance and regulation of digital assets such as cryptocurrencies.
An African association for FinTech
Looking to the rest of the world, it is worth noting that the European Union established a FinTech task force to reshape its ability to respond to FinTech developments. Along the same lines, establishing a task force or federation for financial institutions and FinTech entities in African markets could be a good starting point as successful frameworks highlight issues of information sharing, transparency, cyber security, control standards, data outsourcing and offshoring, as well as regulatory barriers to the growth of FinTech.
In this context, the Africa FinTech Network deserves special mention. The idea to create the African FinTech Network came up in January 2018 in Lagos, Nigeria during the African FinTech enablers’ roundtable, attended by FinTech leaders from 7 African countries and partners from other countries on the eve of the National FinTech Conference. The network was formally inaugurated in Lagos, Nigeria in December 2018 during the first Africa FinTech Festival by the Vice President of the Federal Republic of Nigeria with the active participation of Country Heads of IMF, the African Development Bank, as well as representatives of UK-DFID, UNECA, Ecobank Group, Government of Ghana and other local and global corporations.
The AFN has since grown to encompass 29 member nations, including Mauritius, which is poised to host the next Africa FinTech Festival under the aegis of the Mauritius Africa FinTech Hub (MAFH).
With Covid-19 forcing economies to embrace e-commerce and digital payments at a faster pace than regulators could have imagined possible merely months ago, it is more important than ever to adopt an appropriate regulatory framework to mitigate the risks of FinTech services, while facilitating the development of the FinTech wave.
As Mauritius looks to the future with exciting developments announced in June’s budget speech such as a new framework for digital banking and a Central Bank Digital Currency set to be piloted by the Bank of Mauritius, it might be at the cusp of an unprecedented opportunity to support African markets by serving as a hub for FinTech innovation, and powering financial inclusion in the process.
The Mauritius Africa FinTech Hub is a fast-growing ecosystem where entrepreneurs, corporations, governments, tech experts, investors, financial service providers, universities and research institutions can collaborate to build cutting-edge solutions for the emerging African market.


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With an increasing demand for online content in Arabic, and the language seeing impressive growth rates on sites like Twitter and Wikipedia, a new project aims to do its part to bridge the gap between Arabic and English content in social media and technology, Gulf News reports.
2,500 volunteers from across 28 countries are in the process of putting together a dictionary of technological and social media-related terminology.
While Arabic content continues to grow, there are certain words, like ‘spam’, ‘retweet’ and ‘phishing’ that have emerged but have no equivalent in Arabic, and are often written either in Latin characters, or simply transliterated into Arabic.
The dictionary will be taking a standardized approach, avoiding the pitfalls of the many Arabic dialects spoken across the Middle East, by sticking to formal ‘classical Arabic.’
Sami Mubarak, co-founder of Taghreedat told Gulf News, “The glossary will break a big barrier because many users resort to combining English terminology with the Arabic text, so we want to change that and introduce the first Arabic technology and social media glossary.”
Despite impressive growth rates, the actual amount of online content in Arabic is minimal. On Wikipedia, Arabic content accounts only for 0.007% of its overall content, while across the Web, most estimates put Arabic content at around 2 to 3% at the very most.
With the wheels for the project set in motion by Taghreedat, an initiative founded with the aim of increasing Arabic digital content, support for the dictionary has been provided by investment group twofour54 ibtikar.
This is not the only initiative that Taghreedat is involved in, with the aim of changing the landscape of online Arabic content. The group is actively working towards increasing Wikipedia’s Arabic content and spearheaded the ‘Let’s Tweet in Arabic‘ project, encouraging Arabic speaking Twitter users to share updates in their native tongue.
Twitter itself also played an important role when it introduced support for right-to-left languages, including Arabic.
While this is the first large-scale dictionary of its kind, there are other tools available online aiming to make it easier for Arabic speakers to stick to their native language, from the incredibly useful transliteration tool Yamli, which we covered when it first launched to Arabic captchas.
As the Internet’s Arabic audience continues to grow, with over 77 million Internet users and a penetration rate of 35.6 % in the region, there is an increasing need for more of these kinds of initiatives, and a Web 2.0 dictionary is the perfect accompaniment to facilitate the process.
The dictionary will feature social media and cyber security terms, and the final product will be available online, and as a free downloadable application.


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EOS Price Slide Continues; 25% Weekly Loss; Blockchain Transactions Hit New Record
EOS (EOS) fell a further 25% in the last week en route to today’s coin price in the $2.50 range – a new yearly low for the coin, and a valuation not witnessed since November 2017.
Despite hitting a new thirteen-month low, EOS blockchain transactions soared to new heights on Monday, reaching 47,582,321 transactions over twenty-four hours. That’s a new record in the blockchain space, and equals around 550 transactions per second.
EOS Price – EOS/USD
From the weekly high of $3.37, EOS has fallen steadily, day-on-day, towards 25% losses and a coin price of $2.54. That’s another new low for ‘Ethereum On Steroids’ as EOS is jokingly known, and investors are now seeing their gains corrected following the coin’s ICO peak in Q2 this year.
EOS trade volume is down 20% since the start of the week, falling from $1 billion to $800,000. BTC and USDT trades have been the most common, with neither dominating the action for themselves.
What the crypto market giveth, the crypto market taketh away, and EOS was given a lot back in April. This correction is indicative of the fact that the $4 billion ICO may not have been worth as much as it seemed at the time.
EOS grew 400% back in April, rising from $4 to $20. That was on a different pace to the rest of the market, most of which doubled in price during the April surge. If it wasn’t for the EOS year-long ICO, the coin price would have been at $8 in April, and the 88% losses incurred since then would have placed the coin on a valuation of $0.89, all other things being equal.
As covered by Hacked last week, the EOS price may also have been rocked by CTO Dan Larimer’s decision to turn his attention to a new blockchain project – a move which has been greeted with skepticism thus far.
EOS Transactions Post New Record
According to the latest data from Blocktivity, EOS blockchain transactions just soared to new record highs. The coin’s +47 million transactions recorded on Monday is not just a new record for EOS, but for the blockchain space in general.
Those transactions represent close to 80% of the market-wide total, with only WAX coming anywhere near with its +5 million transactions across the day.
In terms of transactions per second, EOS averaged 550 tps at its busiest points today – a number far greater than Bitcoin and Ethereum are capable of at the moment, but not as high as many blockchain stress-tests have produced.
Former Dan Larimer projects, Bitshares (BTS) and Steem (STEEM) also saw their transactions surge on the same day. No logical explanation for the surge has presented itself as of yet.


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Three New Deadpool Pocket Pops Coming Soon
Funko have announced three new Marvel Pocket Pops featuring Deadpool, one with swords and another with a shower cap and rubber duck.
Hot Topic will also have a Pocket with a dressing gown, teddy and unicorn slippers.
These will be out in June and are priced at $5.99 each. You can pre-order them now from Entertainment Earth.


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At a Friday night graduation ceremony for new police officers, Michael Bloomberg announced that the number of murders in New York dropped to 414 in 2012 — the lowest homicide rate recorded since the city starting keeping track in 1963. To compare: 2011’s count was 515, and the previous record low was 2009’s 471. (And, as the New York Times notes, the city counted 475 suicides this year, which means that New Yorkers were more likely to kill themselves than they were each other in 2012.) Unsurprisingly, Bloomberg was eager to attribute the decline to his controversial stop-and-frisk policy. “Crime has continued to come down and the fact that when we stop and frisk today, you find fewer guns, that shows you that it’s working,” he said. (As some have pointed out in the past, that theory is debatable.) Either way, with just 3.8 murders per 100,000 residents, New York is officially the United States’ safest city.
Theft was a different story: 15,627 robberies, burglaries, and grand larcenies were recorded this year, which is 33 percent more than 2011’s rate of 11,737. The mayor blamed the increase on the thriving black market for Apple devices. “If you took out thefts of Apple products — not Galaxies, Samsungs — just Apple products, our total crime rate would be lower than it was last year,” he explained. (Later, police commissioner Ray Kelly pointed out that thefts of non-Apple stuff had actually declined.) In an effort to get those 2013 numbers down, the NYPD is encouraging New Yorkers to download the Find My iPhone app, register their Apple stuff, and is “prepared” to offer a serial number-engraving service at some station houses. Bloomberg also recommends putting your phone in the pocket of your “more body-fitting, tighter clothes that you can feel if somebody put their hand in your pocket, not just an outside coat pocket.” Alternately, you can go above and beyond your civic duty by buying a Droid.


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MIE Properties-LA Breaks Ground on Pelican Point Commerce Center in Gonzalez
GONZALES, LA (July 8, 2008) – MIE Properties-LA has initiated construction on
Pelican Point Commerce Center, a new 32-acre business community in Gonzales, LA that, when
completed, will consist of four buildings offering more than 200,000 square feet of flex/research and
development space. The park is situated near the intersection of Interstate 10 and LA Highway 44 and
features more than 1500 feet of frontage along the interstate.
The development company’s initial building is a 37,440 square foot flex/research and
development project that offers 30-foot wide spaces, 16-foot ceiling heights, rear dock loading capabilities
and generous parking on the adjacent surface lot. It is expected to be delivered by this fall and, pending the
pace of leasing activity, MIE Properties-LA intends to break ground on succeeding buildings. Pelican
Point Commerce Center is positioned virtually equidistant from Baton Rouge and New Orleans.
“The local market continues to embrace our flex/office product category, which gives us
the continued confidence to move forward with this new speculative development,” explained Todd Pevey,
Vice President of MIE Properties-LA. “Leasing activity is strong throughout our Louisiana portfolio and
we are keeping pace with this continued construction momentum. Our research points to sustained demand
among tenants in a variety of industry sectors, and we feel it is important to have product in-hand to
quickly respond to these requirements,” he added.
“A growing number of companies seek corporate identification opportunities to increase
their visibility and marketing, and Pelican Point Commerce Center will offer an excellent venue with its
available frontage along Interstate 10,” Pevey said.
“MIE Properties-LA has forged an excellent reputation as a commercial real estate
developer and manager and it is encouraging to see this continuation of activity to support the demand in
our marketplace,” said Tommy Kurtz, President and CEO of the Ascension Economic Development
Corporation. “This additional office space translates to increased options for corporate relocations or
expansions, and a growing economic development environment,” he added.
MIE Properties-Louisiana has developed more than 350,000 square feet of commercial
and retail office space including Barringer Foreman Technology Park, Barringer Crossing I and II and
Main Street Pelican Point.
MIE Properties-Louisiana is an affiliate of St. John Properties, Inc., a Baltimore,
Maryland-headquartered company that owns and has developed more than 13 million square feet of flex,
warehouse, office and retail space in Maryland, Colorado, Delaware, Louisiana, Virginia and Wisconsin.
For more information about the company, visit sjp.mu9b0uf9-liquidwebsites.com.
# # #
For additional information,
Contact: Larry Lichtenauer, Lawrence Howard and Associates, Inc.


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Internet users in China are hailing a student who claims to have thrown a shoe at the architect of the country's so-called "Great Firewall" of Internet controls during a university appearance.
Police in central China on Friday refused to comment on the alleged attack on Fang Binxing at Wuhan University by a student who identified himself online only as "hanunyi".Full Story
Online retail giant Amazon said Thursday that sales of digital books for the Kindle electronic reader have surpassed sales of print books.
"Customers are now choosing Kindle books more often than print books," Amazon founder and chief executive Jeff Bezos said in a statement.Full Story
Microsoft on Wednesday warned that hackers use mind tricks more often than software skills to get viruses into computers.
Feedback from globally popular Internet Explorer (IE) Web browser indicated that one of every 14 programs downloaded turned out to be malicious code, according to the U.S. software titan.Full Story
The tablet computers that compete with the iPad have mostly been uninspiring. The Eee Pad Transformer stands out with a design that isn't just copied from the iPad: It's a tablet that turns into a laptop.
For $399, $100 less than the cheapest iPad, you get a tablet computer with a 10-inch screen and hardware that doesn't cut corners. It's fully usable on its own. For another $149, you can buy a keyboard that connects to the tablet. Together, they look and open like a small laptop.Full Story
Times have changed in Bollywood from the days when all that was required to promote a film was a giant, hand-painted poster, a television or cinema trailer and the pulling power of a star actor.
Now, the popular Hindi-language film industry is harnessing the latest technology, hoping that the explosive increase in mobile phones and rapid take-up of the Internet will draw in much-needed audiences.Full Story
Microsoft on Monday began letting Bing search results reflect "likes" of people's friends at Facebook as the social networking star and the software colossus grew closer.
"The best decisions are not just fueled by facts, they require the opinions and emotions of your friends," Bing senior vice president Youssef Mehdi said in a release.Full Story
Two leading makers of lighting products are showcasing LED bulbs that are bright enough to replace energy-guzzling 100-watt light bulbs set to disappear from stores in January.
Their demonstrations at the LightFair trade show in Philadelphia this week mean that brighter LED bulbs will likely go on sale next year, but after a government ban takes effect.Full Story
Just a fifth of Iraqis have bank accounts, but 70 percent have mobile phones, so Baghdad is hoping to close the gap by getting people to open accounts, make payments and transfer cash -- all via mobile.
In a country that is one of the most corrupt and violent in the world, the initiative is aimed at securing Iraqis' funds, and strengthening the banking sector as higher revenues resulting from a greater number of transactions boost profits.Full Story
Is it worth life in a wheelchair to take a funny photo to impress somebody you don't know on the Internet?
This is the question police in Australia have posed after a man died on Sunday taking part in the latest craze going viral on the Internet -- "planking".Full Story
Yahoo Inc. and Chinese Internet company Alibaba Group tried to present a united front Sunday as they worked on a dispute that has caused tension in their already strained relationship.
But the two tech giants offered few details, releasing only a one-sentence statement saying they were in "productive negotiations" to resolve "outstanding issues related to Alipay," which is Alibaba's online payment service.Full Story


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Apple has acquired SnappyLabs, the company behind SnappyCam, an app for the iPhone that can take full-resolution photos at 20 to 30 frames per second.
TechCrunch first reported the deal, and it was later confirmed by Apple in the boilerplate statement it gives on acquisitions: "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans."
In typical form, an acquisition price wasn't revealed. Following the acquisition, the SnappyCam app has been removed from the App Store.
Presumably, the acquisition of SnappyCam will bring better burst mode capture to iOS, a feature introduced in iOS 7 last year. A camera full of features is one of the main selling points for a smartphone, and Apple will certainly want to use SnappyCam to improve on what it already has.
The acquisition of SnappyCam follows a string of other small acquisitions from Apple, including a slew of companies to better its Maps app. With its more than roughly $150 billion in cash, we suspect the acquisitions won't stop any time soon.


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Newsmakers: A 'seller's market' for business investment, acquisitions
It's a seller's market in 2017 as available money for investment continues to outpace the number of business owners seeking to sell or grow their businesses, according to a panel of finance experts at the Daily Herald Business Ledger's Newsmakers' Forum on banking and finance.
More than 60 suburban executives and entrepreneurs attending Thursday's event at the DoubleTree Hotel in Arlington Heights agreed that the current economic climate -- with interest rates still at low levels and available investment cash stockpiling -- provides great opportunities for small- and medium-sized businesses to grow.
"Everyone I've talked to is more optimistic about what's going to go on," said Trevor Morgan, president of Prairie Business Credit in Naperville. "We're seeing a lot more activity than we've seen in years."
Morgan, whose company finances small businesses that experience rapid growth, noted the optimism comes more from a general increase in business activity since the end of the Great Recession in 2013, although 2016 had been relatively stagnant.
"People were holding their breath during the election year," he said. "But since November ... people are beginning to breathe."
Eric Lundstrom, president of Focus Capital Advisors in Downers Grove, echoed that reflection in the area of mergers and acquisitions. While fewer business owners are wanting to sell now, the number of potential buyers is making it a seller's market, with purchase prices going for several times above the business' value.
"There are so few quality businesses coming into the market that the prices are as high as we've ever seen it," Lundstrom said. "There are hundreds of buyers for every seller."
Hugh McLean, a partner with Rock Island Capital of Oak Brook, said unfunded capital among private equity firms in the U.S. is around $565 million, but corporate balance sheets have $2 trillion that is not being spent. The corporate figure doubled in the last six years, he added.
"That's all just sitting there, and that much of it should go into investing into the businesses," he said. "And a natural outlet is mergers and acquisitions."
He noted that it's been almost eight years since the Standard & Poor's 500 average bottomed out, and since then has grown 345 percent.
"Even though it feels like growth had been sluggish, if you had invested during this time, you would've had a 15.5 percent compounded return," McHugh said.
Karen Lennon, founder and president of Wessex 504 Corp., a certified SBA loan company in Chicago, said the current climate is beneficial to small businesses that want to take advantage of the SBA's 504 loan program or the recent refinance program, which allows businesses that own a building with a conventional mortgage to use the program to lock in a fixed 20-year rate and opt to take cash out for business purposes, such as building repair.
"Every business owner should sit with a banker and say 'let's run those numbers,'" she said.
Lennon also rebuked the perception that SBA financing is not limited to minority or start-up businesses, noting the average business seeking SBA help has been in existence for five to six years.
The presenting sponsors for the Newsmakers' Forum were Focus Capital Advisors, Rock Island Capital, Prairie Business Credit aide Wessex 50 Corp. Marketing partners for the event were Arlington Heights and Rolling Meadows chambers of commerce, GOA Regional Business Association, The Management Association, MRA -- The Management Association, and the Small Business Advocacy Council.


text: August 19, 2014 | Israeli cyber security company GuardiCore announced that it closed a $11 million financing round led by Battery Ventures, with participation from Greylock Partners and other strategic investors. In addition to the investment, Battery Venture’s general partner Scott Tobin will join GuardiCore’s board. The company plans to use the investment to expand and develop its product and to sell its cyber security technology on a wider scale. GuardiCore’s product tracks and eliminates intruders inside data center networks. GuardiCore was founded in 2013 and is based out of Tel Aviv.


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Digital Manga Guild launches first title: "Digital’s strategy is to get a lot of manga onto the market quickly by using nonprofessional translators, editors, and letterers who don’t get paid up front but get a 12% cut of profits once the books start selling; Digital and the Japanese licensor also wait for their share until the profits start rolling in."
Should I Be Upset? and Rip Off, Harper Collins Publisher: "You can’t copyright an idea – but does this come too close to copying the execution?"
Bibliotastic.com Romance Author Lands Book Deal: "Heather’s new publisher Booktrope aims to be a new concept in publishing that combines what’s working in the publishing industry with what the indie authors are doing well to create a new model called ‘team publishing." [Has an publisher ever announced a new model that actually was new?]


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Cisco Flip Cam 2007 – 2011
When I first heard the announcment about the discontinuation of the Flip cams, I thought it was a joke! Why would anyone want to discontinue the sale of such a remarkable and functional gadget? Beyonce has one, so does Mariah Carey and Oprah, why would Cisco want to discontinue the “cool” cam to have? As you may remember, I’ve had a LOVE-LOVE relationship with the Flip cam since 2010 and it took me a while to figure out why I absolutely had to get this camera…
I finally bought a HD Flip Cam for myself on the busiest shopping day of the year “Black Friday” at Walmart…only to win an HD Mino months later courtesy of Concreteloop.com…
So when I learned that one of the quickest-selling startups was now in the process of becoming defunct, I had to ask why now? According the the New York Times, on Tuesday, Cisco announced it was shutting down its Flip video camera division. As newer and faster technologies beget newer and faster technologies, consumers move on to the next big thing with alacrity. In four years, Flip has gone from start-up, to dominant camcorder maker, to defunct. It took I.B.M. about four years just to reach dominance with its PC in the early 1980s. The iPad is only one year old.
Just when Flip Cam was reaching it’s peak (it was at the heart of many online contests and giveaways, remember – I just won my Mino last month) smartphones with better capabilities were on the rise as well. With the versatility, the smartphone has crushed the single-use gadgets like video cameras and GPS.
Although Cisco declined an elaborate reasoning for the discontinuation, it’s competitors Kodak and now Casio I’m sure will be there to pick up the pieces and offer comparable cameras that suit your needs. Until then, I guess the hype was fun while it lasted.
Read more from the New York Times HERE.
Do you have a Flip Cam? Would you prefer to use a flip cam over a smartphone cam? Let’s talk about it.


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For something proposed as a peace offering, this McWhopper idea from Burger King sure seems to be escalating the burger wars. Last night, Denny's blitzed its Twitter, Facebook and Instagram accounts with the proposal to partner withShow More Summary
Disney-owned Star Wars seems like such a cuddly, world-embracing brand these days, you'd hardly expect them to drop the occasional AT-AT stomp on a Facebook commenter. But that's what happened for a guy who questioned why Phasma, a character...Show More Summary
For years Carl's Jr.'s spots have had a consistent formula: Take one beautiful and scantily clad model that would probably never eat Carl's Jr., add a few double entendres that highlight the model's attributes, then mention the sandwich a few times. Show More Summary
KFC has rolled out the next phase of its campaign with the revamped Colonel Sanders, and despite Norm Macdonald's recent arrival, he's already feeling presidential. Earlier this month Wieden + Kennedy swapped one Saturday Night Live veteran (Darrell Hammond) for another (Macdonald) as part of its new take on Colonel Sanders for KFC. Show More Summary
The latest installment of MTV's "Look Different" anti-bias campaign looks a whole lot different than last month's showing, an over-the-top, multichannel satire about a Geek Squad-style team of uber-white corporate consultants eager to help people of color hail cabs, rent apartments and handle courtroom appearances. Show More Summary
McDonald’s France andBETC launched the famous “Come as You Are” signature in 2008. Recently they once again brought it to life through “EMOTICON CITY”, a new brand campaign that quickly went viral. Discover why the creative chose emoticons and how they were brought to life in the behind the scenes film.
As an alternative to meditation, The Rage Room at Battle Sports facility in Toronto will let you rent protective gear and break things in peace
Art Director Hedvig Astrom Kushner creates fun and healthy smoothie recipes based on Pantone color swatches
While it's not Barbie's house, Trulia has put a real-world real estate value on global toy manufacturer's Playmobil Modern Luxury Mansion
As a startup, you may not be able to afford a full-time, dedicated PR team quite yet, so you opt for contractors, outsourced agencies, or part-time PR pros. There is some great ad-hoc talent out there that you can add into the startup...Show More Summary
Thanks to the new TV viewing technology, the consumer can simply fast-forward commercials. Advertisers are searching for innovative ways of getting back into the viewer’s good graces. Communication agency These Days came up with a non-intrusive method of achieving just that: breakvertising. The concept caught the attention of Telenet and SBS.
To promote its ZPump shoes, Reebok Korea encouraged moviegoers to don a pair so as to keep their movie buffering
Summary: We enjoy knowing that sometimes it is not what is being said that is the important thing, but how it is being said. It is incredible to see that words have so much impact on how consumers perceive certain topics. For example:...Show More Summary
Sometimes an ad idea just doesn't get the reach it deserves, and this is certainly one of those times. Polish agency The Digitals created a little-seen banner/pop-up ad last year that asked site visitors, "Do you want to dissolve the...Show More Summary
As a wise Jeff Goldblum once put it, we were so busy wondering if we could, we didn't ask if we should. Well I'm here to tell you: No. No we should not. Burger King deserves credit for its masterful PR move this morning of running full-page...Show More Summary
Here's an unusual way to sell a consumer audio product: Stick a microphone inside an active beehive. In this three-minute (headphones recommended) ad for Bowers & Wilkins, sound recordist Sam Nightingale captures audio of bees at work,...Show More Summary
This is the soundtrack of our dry-weather lives in Southern California: TLC's "Waterfalls," Blind Melon's "No Rain," Bruce Springsteen's "The River" and about 100 more H2O-themed ditties playing on an endless loop. That should remind us to take shorter showers and stop washing the cars at home. Show More Summary
Dark chocolate? Yuck. That's the verdict of the kids who try the confection for the first time in this exceptionally cute, straightforward, and effective Israeli spot for Strauss Group's Splendid brand. The youngsters' reactions are priceless. Show More Summary
Summary: The marketing and advertising landscape is still trying to figure itself out. The business scene, with Corporate America and Wall Street, is not doing it any favors. With investors scared about what is going on in the Asian markets and clueless about what is going through the heads of the Chinese government...
With Sumry, companies can hire on the personality of their future employees as pooled from social media activity and web commentary


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The tremendous success of the Hyundai-Kia model in the Southern Auto Corridor
By Mike Randle
They share a corporate headquarters in Seoul, South Korea, and together they represent the world's fifth-largest automaker. Their engineering teams work long hours at the design studio they have built together in Southern California. But in North America, the only place where Hyundai and Kia build cars is in the Southern Auto Corridor.
Yes, Korean automakers' Hyundai and Kia are indeed joined at the hip in more ways than one, particularly in Alabama and Georgia. Hyundai's plant in Montgomery, Ala., is only 90 miles from Kia's facility in West Point, Ga. The two facilities share an extensive Korean-based supply chain that includes an engine plant in Montgomery and a transmission facility in West Point, a business model that no other two automakers enjoy in the South. The model is working so well that other automakers and experts in the field have definitely noticed.
It wasn't too long ago that all Hyundai and Kia cars and SUVs were relegated to cheap rental car fleets. Today, instead of a cheap car at a cheap price, Hyundai and Kia models are some of the most sought-after vehicles on the market. The Korean automakers' success has helped the economies of central and east Alabama, as well as west Georgia, during some trying times.
"I can tell you that when the economy crashed, there were no companies looking to add jobs here," said Jane Fryer, executive director of the Meriwether County, Ga., Industrial Development Authority. "But there was Kia bringing in suppliers right and left during the recession. It was a lifesaver. Had we not had Kia, this part of west Georgia wouldn't have weathered the recession."
Before moving over to neighboring Meriwether County, Fryer was the head honcho economic developer in Troup County, Ga., where the Kia plant is located, and was the local point person for the Kia project. "It was hard to believe; here we were in Troup County, Ga., working on a project of that size. At the time, there were no jobs in the West Point area. Everyone had worked in the textile mills, but by the time Kia arrived those had all closed. Kia gave this area the opportunity to keep its people here, their children and grandchildren here. I hear it all the time, 'What would we have done without Kia,' " Fryer said.
Kia and Hyundai are not just outstanding corporate citizens providing lots of good jobs at fair wages in Alabama and Georgia; they are very good at designing and manufacturing automobiles.
Ellen McNair -- like Jane Fryer in Georgia -- was at the Montgomery (Ala.) Area Chamber of Commerce when Hyundai announced its plant there in 2002. McNair continues to work for the Chamber and is Hyundai's primary economic development contact. "Their productivity is just unbelievable," McNair said of the Korean automaker. "Their stamping facility here in Montgomery has won top stamping plant in the world for four straight years," according to The Harbour Report. "Hyundai Motor Manufacturing of Alabama," McNair continued, "was named the most efficient and productive OEM in North America. The engine shop has won No. 1 engine plant two years in a row. JD Power just named the Sonata the most dependable car. It is just amazing what they have accomplished in a decade."
McNair continued. "My father was a Korean War veteran and he was in Seoul in the 1950s. He told me about the devastation in that city. In one lifetime, look at that city today. It is the most amazing city, and in one lifetime it has come up from the ashes. It is that culture that built Seoul back to one of the top cities in the world."
The Korean culture is obviously one that can assist in building pretty good cars, too. Yep, Hyundai and Kia are doing it right. The success of the two automakers is off the charts, posting strong sales growth even in the depths of the recession. Their success has been attributed to reasonably priced vehicles, above average fuel efficiency and improved quality year after year.
Hyundai's plant in Montgomery and Kia's in West Point are maxed out on the production front, with employees working three shifts seven days a week. In an AP story published in July, Hyundai's U.S. CEO John Krafcik said that both of the company's U.S. plants are on the maximum three shifts with workers topping out their overtimes, yet they still can't keep up with demand. "We have tapped everything at this point," Krafcik said. "There's nothing left."
When there is "nothing left" in terms of additional capacity, when every car you make is already purchased and sales growth lags because your facilities can't make enough vehicles to meet demand, most automakers simply start a site search -- one that experts have predicted would have started three years ago for Hyundai -- for another plant. Or, at the least, build additional lines at current facilities, which both the Montgomery and West Point sites can accommodate.
But what does Kia and Hyundai do? They cool the expansion talk and take a couple of years off to work on quality issues. How cool is that?
In a story published by Reuters in May, Hyundai Motor Group Chairman Chung Mong-koo shot down the ever present speculation that Hyundai and/or Kia will build new plants in the next couple of years in the Southern Auto Corridor or in Mexico. "We have no plan (for a new U.S. factory) for now," said Chung.
The Montgomery Chamber's Ellen McNair said, "Chairman Chung made the decision to improve the quality of the vehicles. He saw how some other automakers expanded and expanded and then they ended up with thousands of recalls. Hyundai has the capability of expanding the plant here in Montgomery on their tract and there are 2,000 acres across the Interstate (I-65) if they want it. But we have been told that they have made the decision to put off expansions for now," McNair said.
It's got to be difficult for Hyundai and Kia's leadership, after several years of remarkable growth, to stand pat from a production standpoint. Capacity limitations, not just in the U.S., but worldwide, have slowed growth to about two percent this year. Automakers in the U.S. are enjoying 10 percent growth rates so far in 2013, which has turned out to be an outstanding recovery year for vehicle sales.
Hyundai's U.S. CEO John Krafcik said in a recent article published by Automotive News, "We're building the whole business model around that constraint. It's a very different strategy than anyone has ever taken in the industry. It's going to be a very positive thing for us five to 10 years down the road," Krafcik said.
With Hyundai and Kia slowing expansion for a period, the importance of the automakers' facilities in West Point, Ga., and Montgomery, Ala., will be very positive things for those two communities as well five to 10 years down the road. In Georgia, there are about 3,000 workers housed at the Kia assembly plant and about 5,800 employees working at 20 parts suppliers to the facility. Most of those suppliers are located in Troup, Harris and Meriwether counties.
For tiny Meriwether County, Kia has been a blessing. "When I got here, there were only 1,200 manufacturing jobs in the entire county," said Fryer. Mando Meriwether (Korean supplier to Kia and Hyundai) will employ 1,000 manufacturing workers once its casting facility is completed. The company is bringing in casting work to west Georgia that it used to perform in Korea.
Located between Kia's plant in West Point and Hyundai's plant in Montgomery is the growing metro of Auburn-Opelika, Ala. It's been the best of both worlds for that east Alabama market in that it has landed companies that do work for both automakers. "Mando, Daewon, Hanwha, Seohan, they just keep on expanding," said Lori Huguley, director of economic development with the City of Opelika, about the Korean parts suppliers there. "The Koreans have a strong work ethic. They will outwork you and that's a big part of their success. They also do a tremendous job of forecasting."
Over in Montgomery, more than 70 companies have followed Hyundai from Korea to central Alabama, with Montgomery landing over 25 of them. Hyundai Motor Manufacturing Alabama is a $1.7 billion commitment to the U.S. market and more than 3,000 workers are housed at the assembly operation with an additional 5,500 jobs coming from suppliers to the plant.
"Hyundai's facility here is huge for us," said McNair. "We are blessed to have Hyundai here. I have tremendous respect for this company and the Korean culture they have brought to Montgomery."
A phone call to Jane Fryer in 2005
By Mike Randle
Here is a great story about Jane Fryer. In the fall of 2005 I was in Virginia on a sales trip. I got a call from Gray Swoope, then the executive director of the Mississippi Development Authority and he told me Kia's site search in Mississippi wasn't going well. I said to Gray, "I guess that means Kia's not going to Mississippi, huh Gray?" He confirmed that.
Knowing that Kia wouldn't venture far from the mother ship, which is Hyundai's plant in Montgomery, Ala., I pulled off the Interstate and took a look at the Road Atlas sitting in the passenger seat of my rental car. If Kia wasn't going to Mississippi -- and I knew they weren't going to Alabama -- then I figured it had to be Georgia.
I put my finger on Interstate 85 out of Montgomery as it ran it into Georgia. Once over the border, the first stop on I-85 was Troup County, Ga., and the county seat of LaGrange, Ga. That was the county my good friend Jane Fryer represented.
I immediately called Jane on my cell phone and she answered. I asked, "Jane, have you heard from Kia?" She was surprised and said that she had not heard from anyone representing the Korean automaker. I then said, "Well, you are about to." Five months later, Kia officials announced that Troup County, Ga., would be the location of its first North American plant.


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Duck Tape is getting "Ducked Out" for the 2014 Radio Disney Music Awards (RDMAs), and offering one person a chance to attend the event at Nokia Theatre L.A. April 26.
Tesco and Walmart’s Asda division are intense competitors in the U.K. and that was supposed to be the case in the U.S. when Tesco arrived in 2007 with its Fresh & Easy format.
Wounded retailers have a tendency to take irrational actions which means Walmart could have its hands full this holiday season as Best Buy is looking desperate and has a new CEO at the helm.
Barnes & Noble announced that it has expanded BN.com Marketplace, adding over one million new products to the catalog.
Motorola Solutions announced that it has introduced its first waterproof Talkabout branded two-way radios.